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 10/03/1988
Fund without Sales Charge (%) (NAV) 5.90 1.43 2.14 2.91 4.84
Fund with Sales Charge (%) (POP) 1.93 0.15 1.36 2.51 4.71
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/03/1988
Fund without Sales Charge (%) (NAV) 5.90 1.43 2.14 2.91 4.84
Fund with Sales Charge (%) (POP) 1.93 0.15 1.36 2.51 4.71
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.85

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 5.90 1.43 2.14 2.91
Fund without Sales Charge (%) (NAV) After Shares Sold 4.82 1.85 2.42 3.08
Fund with Sales Charge (%) (POP) Before Shares Sold 1.93 0.15 1.36 2.51
Fund with Sales Charge (%) (POP) After Shares Sold 2.42 0.85 1.81 2.75
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.90 1.43 2.14 2.91
Fund without Sales Charge (%) (NAV) After Shares Sold 4.82 1.85 2.42 3.08
Fund with Sales Charge (%) (POP) Before Shares Sold 1.93 0.15 1.36 2.51
Fund with Sales Charge (%) (POP) After Shares Sold 2.42 0.85 1.81 2.75

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 0.92
Fund with Sales Charge (%) (POP) -3.37
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 10/03/1988
Fund without Sales Charge (%) (NAV) 1.03 4.58 5.90 4.36 11.16 33.17 332.56
Fund with Sales Charge (%) (POP) -2.76 0.66 1.93 0.45 6.99 28.17 316.33
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.03 4.58 5.90 4.36 11.16 33.17 332.56
Fund with Sales Charge (%) (POP) -2.76 0.66 1.93 0.45 6.99 28.17 316.33
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 482.63

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.27 2.26 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -1.09 -0.66 -1.13
Beta 0.63 0.68 0.96
Sharpe Ratio 0.08 0.48 0.72
Information Ratio -1.35 -1.15 -1.03
Tracking Error 1.40 1.29 1.28
R-Squared 0.92 0.85 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.52 0.61 0.97
Beta Bear 0.69 0.67 0.98
Bull Bear Capture Ratio 0.82 0.84 0.79
% of Positive Months 69.44 70.00 67.50
Gains/Losses 1.80 1.98 1.99
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.63
Sharpe Ratio 0.08
Standard Deviation 2.27

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index