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) 7.13 2.22 2.80 3.54 5.31
Fund with Sales Charge (%) (POP) 3.11 0.92 2.01 3.14 5.19
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) 7.13 2.22 2.80 3.54 5.31
Fund with Sales Charge (%) (POP) 3.11 0.92 2.01 3.14 5.19
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 7.13 2.22 2.80 3.54
Fund without Sales Charge (%) (NAV) After Shares Sold 5.47 2.42 2.92 3.58
Fund with Sales Charge (%) (POP) Before Shares Sold 3.11 0.92 2.01 3.14
Fund with Sales Charge (%) (POP) After Shares Sold 3.04 1.41 2.30 3.25
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.13 2.22 2.80 3.54
Fund without Sales Charge (%) (NAV) After Shares Sold 5.47 2.42 2.92 3.58
Fund with Sales Charge (%) (POP) Before Shares Sold 3.11 0.92 2.01 3.14
Fund with Sales Charge (%) (POP) After Shares Sold 3.04 1.41 2.30 3.25

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.59
Fund with Sales Charge (%) (POP) -3.68
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) 1.41 5.75 7.13 6.80 14.79 41.59 426.37
Fund with Sales Charge (%) (POP) -2.39 1.78 3.11 2.79 10.48 36.28 406.63
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) 1.41 5.75 7.13 6.80 14.79 41.59 426.37
Fund with Sales Charge (%) (POP) -2.39 1.78 3.11 2.79 10.48 36.28 406.63
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) 2.56 2.41 3.58
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.59 -0.21 -0.56
Beta 0.72 0.75 0.98
Sharpe Ratio 0.34 0.71 0.89
Information Ratio -1.05 -0.78 -0.53
Tracking Error 1.12 1.10 1.27
R-Squared 0.94 0.89 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.77 0.99
Beta Bear 0.60 0.63 0.94
Bull Bear Capture Ratio 0.90 0.95 0.89
% of Positive Months 69.44 71.67 71.67
Gains/Losses 2.01 2.27 2.22
Maximum Drawdown
1.39 3.35 7.94

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

Gross Expense Ratio 0.91%
Net Expense Ratio [further-information] 0.91%
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 0.72
Sharpe Ratio 0.34
Standard Deviation 2.56

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index