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 09/01/1987
Fund without Sales Charge (%) (NAV) 6.68 1.95 2.43 3.03 5.32
Fund with Sales Charge (%) (POP) 2.68 0.66 1.65 2.64 5.19
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.68 1.95 2.43 3.03 5.32
Fund with Sales Charge (%) (POP) 2.68 0.66 1.65 2.64 5.19
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 6.69 1.95 2.43 3.03
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 2.20 2.61 3.16
Fund with Sales Charge (%) (POP) Before Shares Sold 2.68 0.66 1.65 2.64
Fund with Sales Charge (%) (POP) After Shares Sold 2.72 1.20 2.00 2.83
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.69 1.95 2.43 3.03
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 2.20 2.61 3.16
Fund with Sales Charge (%) (POP) Before Shares Sold 2.68 0.66 1.65 2.64
Fund with Sales Charge (%) (POP) After Shares Sold 2.72 1.20 2.00 2.83

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.21
Fund with Sales Charge (%) (POP) -3.09
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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.33 5.71 6.68 5.97 12.73 34.82 426.95
Fund with Sales Charge (%) (POP) -2.47 1.74 2.68 2.00 8.50 29.76 407.18
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.33 5.71 6.68 5.97 12.73 34.82 426.95
Fund with Sales Charge (%) (POP) -2.47 1.74 2.68 2.00 8.50 29.76 407.18
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.47 2.24 3.50
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.83 -0.38 -0.98
Beta 0.67 0.68 0.95
Sharpe Ratio 0.21 0.61 0.76
Information Ratio -1.13 -0.96 -0.93
Tracking Error 1.35 1.25 1.30
R-Squared 0.89 0.87 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.63 0.65 0.97
Beta Bear 0.61 0.62 0.94
Bull Bear Capture Ratio 0.85 0.92 0.81
% of Positive Months 63.89 70.00 70.00
Gains/Losses 1.85 2.17 2.03
Maximum Drawdown
1.55 3.21 9.03

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

Gross Expense Ratio 0.83%
Net Expense Ratio [further-information] 0.83%
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 0.67
Sharpe Ratio 0.21
Standard Deviation 2.47

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index