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) 6.53 2.12 2.84 3.37 5.47
Fund with Sales Charge (%) (POP) 2.53 0.83 2.05 2.98 5.34
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) 6.53 2.12 2.84 3.37 5.47
Fund with Sales Charge (%) (POP) 2.53 0.83 2.05 2.98 5.34
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 6.53 2.12 2.84 3.36
Fund without Sales Charge (%) (NAV) After Shares Sold 5.33 2.46 3.06 3.53
Fund with Sales Charge (%) (POP) Before Shares Sold 2.53 0.82 2.05 2.97
Fund with Sales Charge (%) (POP) After Shares Sold 2.91 1.46 2.44 3.21
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.53 2.12 2.84 3.36
Fund without Sales Charge (%) (NAV) After Shares Sold 5.33 2.46 3.06 3.53
Fund with Sales Charge (%) (POP) Before Shares Sold 2.53 0.82 2.05 2.97
Fund with Sales Charge (%) (POP) After Shares Sold 2.91 1.46 2.44 3.21

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.84
Fund with Sales Charge (%) (POP) -2.49
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) 1.28 5.48 6.53 6.49 15.01 39.35 451.50
Fund with Sales Charge (%) (POP) -2.52 1.53 2.53 2.50 10.70 34.12 430.81
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) 1.28 5.48 6.53 6.49 15.01 39.35 451.50
Fund with Sales Charge (%) (POP) -2.52 1.53 2.53 2.50 10.70 34.12 430.81
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) 2.43 2.39 3.45
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.67 -0.10 -0.61
Beta 0.67 0.72 0.93
Sharpe Ratio 0.28 0.73 0.86
Information Ratio -1.02 -0.64 -0.68
Tracking Error 1.34 1.29 1.33
R-Squared 0.90 0.83 0.86

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

3 YR 5 YR 10 YR
Beta Bull 0.60 0.77 0.96
Beta Bear 0.63 0.61 0.88
Bull Bear Capture Ratio 0.90 1.00 0.87
% of Positive Months 63.89 66.67 70.00
Gains/Losses 1.97 2.39 2.20
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.67
Sharpe Ratio 0.28
Standard Deviation 2.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index