Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.35 2.47 2.97 3.48 5.44
Fund with Sales Charge (%) (POP) 3.33 1.17 2.19 3.08 5.31
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.35 2.47 2.97 3.48 5.44
Fund with Sales Charge (%) (POP) 3.33 1.17 2.19 3.08 5.31
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.36 2.46 2.97 3.48
Fund without Sales Charge (%) (NAV) After Shares Sold 5.60 2.61 3.05 3.52
Fund with Sales Charge (%) (POP) Before Shares Sold 3.33 1.17 2.19 3.08
Fund with Sales Charge (%) (POP) After Shares Sold 3.17 1.60 2.43 3.20
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.36 2.46 2.97 3.48
Fund without Sales Charge (%) (NAV) After Shares Sold 5.60 2.61 3.05 3.52
Fund with Sales Charge (%) (POP) Before Shares Sold 3.33 1.17 2.19 3.08
Fund with Sales Charge (%) (POP) After Shares Sold 3.17 1.60 2.43 3.20

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.40
Fund with Sales Charge (%) (POP) -2.91
Bloomberg Barclays Municipal Bond Index (%) 1.28

Cumulative Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.53 6.36 7.35 7.58 15.76 40.75 446.79
Fund with Sales Charge (%) (POP) -2.28 2.38 3.33 3.55 11.42 35.47 426.28
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.53 6.36 7.35 7.58 15.76 40.75 446.79
Fund with Sales Charge (%) (POP) -2.28 2.38 3.33 3.55 11.42 35.47 426.28
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.60 2.42 3.57
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.44 -0.03 -0.64
Beta 0.71 0.74 0.98
Sharpe Ratio 0.39 0.78 0.88
Information Ratio -0.84 -0.60 -0.61
Tracking Error 1.24 1.15 1.22
R-Squared 0.91 0.88 0.88

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.72 0.81 1.03
Beta Bear 0.61 0.62 0.90
Bull Bear Capture Ratio 0.94 1.02 0.87
% of Positive Months 63.89 68.33 68.33
Gains/Losses 2.02 2.43 2.19
Maximum Drawdown
1.60 3.09 8.35

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 0.84%
Net Expense Ratio [further-information] 0.84%
Max Initial Sales Charge 3.75%
CDSC 0.75%

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.71
Sharpe Ratio 0.39
Standard Deviation 2.60

Benchmarks

A benchmark is a comparable broad-based index that can be used to evaluate a fund's performance.

  • Bloomberg Barclays Municipal Bond Index