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) 6.13 3.36 2.45 3.51 5.09
Fund with Sales Charge (%) (POP) 2.15 2.05 1.67 3.11 4.96
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) 6.13 3.36 2.45 3.51 5.09
Fund with Sales Charge (%) (POP) 2.15 2.05 1.67 3.11 4.96
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) 6.13 1.15
Fund with Sales Charge (%) (POP) 2.15 -3.15
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) 0.20 6.13 6.13 10.43 12.86 41.13 371.81
Fund with Sales Charge (%) (POP) -3.56 2.15 2.15 6.29 8.63 35.84 354.12
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) 0.20 6.13 6.13 10.43 12.86 41.13 371.81
Fund with Sales Charge (%) (POP) -3.56 2.15 2.15 6.29 8.63 35.84 354.12
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) 2.07 2.62 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.67 -0.57 -0.96
Beta 0.79 0.80 1.05
Sharpe Ratio 0.84 0.54 0.78
Information Ratio -1.54 -0.98 -0.69
Tracking Error 0.88 1.10 1.21
R-Squared 0.88 0.87 0.90

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

3 YR 5 YR 10 YR
Beta Bull 0.71 0.71 1.01
Beta Bear 0.52 0.78 1.07
Bull Bear Capture Ratio 0.82 0.85 0.82
% of Positive Months 69.44 68.33 68.33
Gains/Losses 2.87 2.01 2.04
Maximum Drawdown
1.31 3.94 9.28

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 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.79
Sharpe Ratio 0.84
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