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) 5.61 3.04 2.59 3.44 5.43
Fund with Sales Charge (%) (POP) 1.65 1.74 1.81 3.05 5.30
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) 5.61 3.04 2.59 3.44 5.43
Fund with Sales Charge (%) (POP) 1.65 1.74 1.81 3.05 5.30
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) 5.61 1.84
Fund with Sales Charge (%) (POP) 1.65 -2.49
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) 0.12 5.61 5.61 9.41 13.62 40.31 452.16
Fund with Sales Charge (%) (POP) -3.64 1.65 1.65 5.30 9.36 35.05 431.45
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) 0.12 5.61 5.61 9.41 13.62 40.31 452.16
Fund with Sales Charge (%) (POP) -3.64 1.65 1.65 5.30 9.36 35.05 431.45
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) 1.82 2.38 3.45
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.64 -0.23 -0.62
Beta 0.67 0.72 0.94
Sharpe Ratio 0.78 0.65 0.84
Information Ratio -1.57 -0.74 -0.68
Tracking Error 1.07 1.27 1.32
R-Squared 0.83 0.84 0.86

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

3 YR 5 YR 10 YR
Beta Bull 0.64 0.79 0.96
Beta Bear 0.23 0.61 0.88
Bull Bear Capture Ratio 0.87 0.98 0.87
% of Positive Months 66.67 66.67 70.00
Gains/Losses 3.04 2.32 2.18
Maximum Drawdown
1.40 3.33 9.31

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

Gross Expense Ratio 0.85%
Net Expense Ratio [further-information] 0.85%
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 0.67
Sharpe Ratio 0.78
Standard Deviation 1.82

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index