Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 4.35 3.50 3.28 3.45 5.22
Fund with Sales Charge (%) (POP) 0.44 2.19 2.50 3.06 5.10
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 4.35 3.50 3.28 3.45 5.22
Fund with Sales Charge (%) (POP) 0.44 2.19 2.50 3.06 5.10

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.35 3.50 3.28 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 3.60 3.36 3.25 3.47
Fund with Sales Charge (%) (POP) Before Shares Sold 0.44 2.19 2.49 3.06
Fund with Sales Charge (%) (POP) After Shares Sold 1.25 2.34 2.62 3.15
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.35 3.50 3.28 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 3.60 3.36 3.25 3.47
Fund with Sales Charge (%) (POP) Before Shares Sold 0.44 2.19 2.49 3.06
Fund with Sales Charge (%) (POP) After Shares Sold 1.25 2.34 2.62 3.15

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.19 0.67
Fund with Sales Charge (%) (POP) 2.21 -3.11
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.06 2.32 4.35 10.86 17.52 40.43 431.25
Fund with Sales Charge (%) (POP) -1.77 -1.52 0.44 6.71 13.12 35.16 411.33
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.06 2.32 4.35 10.86 17.52 40.43 431.25
Fund with Sales Charge (%) (POP) -1.77 -1.52 0.44 6.71 13.12 35.16 411.33

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.55 3.33 4.01
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -0.44 -0.28 -0.81
Beta 0.90 0.87 1.02
Sharpe Ratio 0.52 0.65 0.72
Information Ratio -0.93 -0.82 -0.79
Tracking Error 0.77 0.79 0.96
R-Squared 0.97 0.97 0.94

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.02 0.97 1.08
Beta Bear 0.76 0.81 0.94
Bull Bear Capture Ratio 0.95 0.97 0.86
Gains/Losses 2.18 2.23 1.95

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.80%
Net Expense Ratio [further-information] 0.80%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.90
Sharpe Ratio 0.52
Standard Deviation 3.55

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index