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) 7.25 2.29 3.01 3.43 5.26
Fund with Sales Charge (%) (POP) 3.23 1.00 2.23 3.04 5.13
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) 7.25 2.29 3.01 3.43 5.26
Fund with Sales Charge (%) (POP) 3.23 1.00 2.23 3.04 5.13
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 7.26 2.29 3.01 3.43
Fund without Sales Charge (%) (NAV) After Shares Sold 5.52 2.47 3.08 3.49
Fund with Sales Charge (%) (POP) Before Shares Sold 3.23 1.00 2.23 3.04
Fund with Sales Charge (%) (POP) After Shares Sold 3.09 1.47 2.46 3.16
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.26 2.29 3.01 3.43
Fund without Sales Charge (%) (NAV) After Shares Sold 5.52 2.47 3.08 3.49
Fund with Sales Charge (%) (POP) Before Shares Sold 3.23 1.00 2.23 3.04
Fund with Sales Charge (%) (POP) After Shares Sold 3.09 1.47 2.46 3.16

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.67
Fund with Sales Charge (%) (POP) -3.61
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) 1.69 5.88 7.25 7.03 15.99 40.17 417.73
Fund with Sales Charge (%) (POP) -2.12 1.91 3.23 3.02 11.64 34.91 398.31
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) 1.69 5.88 7.25 7.03 15.99 40.17 417.73
Fund with Sales Charge (%) (POP) -2.12 1.91 3.23 3.02 11.64 34.91 398.31
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) 2.90 2.70 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.73 -0.32 -0.94
Beta 0.83 0.87 1.05
Sharpe Ratio 0.33 0.71 0.83
Information Ratio -1.49 -0.97 -0.86
Tracking Error 0.73 0.69 0.92
R-Squared 0.97 0.96 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.85 0.91 1.08
Beta Bear 0.85 0.83 1.05
Bull Bear Capture Ratio 0.88 0.94 0.84
% of Positive Months 66.67 70.00 66.67
Gains/Losses 1.97 2.28 2.13
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.83
Sharpe Ratio 0.33
Standard Deviation 2.90

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index