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 10/03/1988
Fund without Sales Charge (%) (NAV) 4.97 2.59 1.99 3.03 4.81
Fund with Sales Charge (%) (POP) 1.04 1.30 1.21 2.64 4.68
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.83
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 4.97 2.59 1.99 3.03 4.81
Fund with Sales Charge (%) (POP) 1.04 1.30 1.21 2.64 4.68
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.83

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) 4.97 0.92
Fund with Sales Charge (%) (POP) 1.04 -3.37
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 10/03/1988
Fund without Sales Charge (%) (NAV) 0.37 4.97 4.97 7.99 10.36 34.84 334.17
Fund with Sales Charge (%) (POP) -3.39 1.04 1.04 3.94 6.22 29.79 317.88
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 486.92
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 0.37 4.97 4.97 7.99 10.36 34.84 334.17
Fund with Sales Charge (%) (POP) -3.39 1.04 1.04 3.94 6.22 29.79 317.88
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 486.92

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.58 2.25 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.84 -0.73 -1.13
Beta 0.59 0.68 0.97
Sharpe Ratio 0.61 0.42 0.70
Information Ratio -1.88 -1.19 -1.04
Tracking Error 1.13 1.29 1.25
R-Squared 0.86 0.85 0.88

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

3 YR 5 YR 10 YR
Beta Bull 0.56 0.62 0.98
Beta Bear 0.52 0.67 0.98
Bull Bear Capture Ratio 0.86 0.83 0.79
% of Positive Months 72.22 70.00 68.33
Gains/Losses 2.98 1.95 1.97
Maximum Drawdown
1.02 3.72 9.14

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 0.75%

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.59
Sharpe Ratio 0.61
Standard Deviation 1.58

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index