Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 7.05 3.45 2.55 3.52 5.10
Fund with Sales Charge (%) (POP) 3.03 2.14 1.77 3.12 4.97
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.83
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 7.22 2.13 2.77 3.32 5.13
Fund with Sales Charge (%) (POP) 3.20 0.84 1.98 2.93 5.00
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 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.05 3.45 2.55 3.52
Fund without Sales Charge (%) (NAV) After Shares Sold 5.43 3.37 2.72 3.55
Fund with Sales Charge (%) (POP) Before Shares Sold 3.03 2.14 1.77 3.12
Fund with Sales Charge (%) (POP) After Shares Sold 3.01 2.35 2.10 3.22
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.21 2.13 2.77 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 5.55 2.35 2.89 3.39
Fund with Sales Charge (%) (POP) Before Shares Sold 3.20 0.84 1.98 2.93
Fund with Sales Charge (%) (POP) After Shares Sold 3.12 1.35 2.27 3.07

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.15
Fund with Sales Charge (%) (POP) -3.15
Bloomberg Barclays Municipal Bond Index (%) 1.28

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -0.53 5.99 7.05 10.70 13.43 41.32 371.16
Fund with Sales Charge (%) (POP) -4.26 2.01 3.03 6.54 9.17 36.02 353.49
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 485.14
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) 1.37 5.92 7.22 6.52 14.62 38.67 370.87
Fund with Sales Charge (%) (POP) -2.43 1.95 3.20 2.53 10.32 33.47 353.21
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 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.07 2.62 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha -0.74 -0.50 -0.95
Beta 0.77 0.80 1.05
Sharpe Ratio 0.89 0.59 0.79
Information Ratio -1.63 -0.92 -0.68
Tracking Error 0.97 1.10 1.21
R-Squared 0.86 0.87 0.90

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.65 0.70 1.01
Beta Bear 0.52 0.78 1.07
Bull Bear Capture Ratio 0.80 0.87 0.82
Gains/Losses 2.91 2.05 2.04

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

Gross Expense Ratio 0.88%
Net Expense Ratio [further-information] 0.88%
Max Initial Sales Charge 3.75%
CDSC 0.75%

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Beta 0.77
Sharpe Ratio 0.89
Standard Deviation 2.07

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index