Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.19 3.50 2.76 3.54 5.23
Fund with Sales Charge (%) (POP) 2.21 2.19 1.97 3.15 5.10
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.19 3.50 2.76 3.54 5.23
Fund with Sales Charge (%) (POP) 2.21 2.19 1.97 3.15 5.10
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 6.19 0.67
Fund with Sales Charge (%) (POP) 2.21 -3.61
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.29 6.19 6.19 10.88 14.56 41.61 419.23
Fund with Sales Charge (%) (POP) -3.47 2.21 2.21 6.72 10.27 36.30 399.76
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.29 6.19 6.19 10.88 14.56 41.61 419.23
Fund with Sales Charge (%) (POP) -3.47 2.21 2.21 6.72 10.27 36.30 399.76
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.11 2.69 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.70 -0.43 -0.95
Beta 0.84 0.87 1.05
Sharpe Ratio 0.89 0.64 0.81
Information Ratio -2.06 -1.14 -0.87
Tracking Error 0.59 0.68 0.92
R-Squared 0.95 0.96 0.94

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.88 0.93 1.08
Beta Bear 0.89 0.83 1.05
Bull Bear Capture Ratio 0.88 0.92 0.84
% of Positive Months 69.44 70.00 66.67
Gains/Losses 3.21 2.22 2.10
Maximum Drawdown
1.38 4.17 9.55

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

Gross Expense Ratio 0.80%
Net Expense Ratio [further-information] 0.80%
Max Initial Sales Charge 3.75%
CDSC 0.75%

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.84
Sharpe Ratio 0.89
Standard Deviation 2.11

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index