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) 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
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) 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 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 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
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 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) 1.37 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
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 09/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.88 2.63 3.82
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.50 3.04 3.51
Alpha -0.68 -0.35 -0.90
Beta 0.78 0.80 1.03
Sharpe Ratio 0.21 0.69 0.74
Information Ratio -0.97 -0.80 -0.67
Tracking Error 1.09 1.11 1.26
R-Squared 0.92 0.87 0.89

ADDITIONAL RISK STATISTICSAs of 09/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.61 0.66 1.00
Beta Bear 0.80 0.78 1.04
Bull Bear Capture Ratio 0.88 0.89 0.83
% of Positive Months 66.67 70.00 67.50
Gains/Losses 1.72 2.15 1.94
Maximum Drawdown
3.14 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 09/30/2019 Updated Monthly, based on a 3-year period

Beta 0.78
Sharpe Ratio 0.21
Standard Deviation 2.88

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index