Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 2.74 2.29 1.89 2.85 4.76
Fund with Sales Charge (%) (POP) -1.11 1.00 1.11 2.45 4.63
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 2.74 2.29 1.89 2.85 4.76
Fund with Sales Charge (%) (POP) -1.11 1.00 1.11 2.45 4.63

After-Tax Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.74 2.29 1.89 2.85
Fund without Sales Charge (%) (NAV) After Shares Sold 2.88 2.50 2.21 3.02
Fund with Sales Charge (%) (POP) Before Shares Sold -1.11 1.00 1.11 2.45
Fund with Sales Charge (%) (POP) After Shares Sold 0.55 1.49 1.60 2.70
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.74 2.29 1.89 2.85
Fund without Sales Charge (%) (NAV) After Shares Sold 2.88 2.50 2.21 3.02
Fund with Sales Charge (%) (POP) Before Shares Sold -1.11 1.00 1.11 2.45
Fund with Sales Charge (%) (POP) After Shares Sold 0.55 1.49 1.60 2.70

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 4.97 0.92
Fund with Sales Charge (%) (POP) 1.04 -2.86
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -0.41 -0.41 2.74 7.03 9.80 32.41 332.38
Fund with Sales Charge (%) (POP) -4.15 -4.15 -1.11 3.02 5.68 27.45 316.16
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -0.41 -0.41 2.74 7.03 9.80 32.41 332.38
Fund with Sales Charge (%) (POP) -4.15 -4.15 -1.11 3.02 5.68 27.45 316.16

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.44 2.57 3.67
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.48 3.48 3.68
Alpha -0.91 -0.65 -1.04
Beta 0.67 0.69 0.94
Sharpe Ratio 0.24 0.30 0.62
Information Ratio -1.31 -0.96 -1.01
Tracking Error 1.27 1.36 1.28
R-Squared 0.94 0.89 0.88

ADDITIONAL RISK STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.59 0.62 0.97
Beta Bear 0.76 0.71 0.88
Bull Bear Capture Ratio 0.88 0.87 0.80
Gains/Losses 2.10 1.79 1.84

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

Gross Expense Ratio 0.92%
Net Expense Ratio [further-information] 0.92%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 03/31/2020 Updated Monthly, based on a 3-year period

Beta 0.67
Sharpe Ratio 0.24
Standard Deviation 2.44

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index