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 05/12/1988
Fund without Sales Charge (%) (NAV) 6.36 3.53 2.70 3.45 5.35
Fund with Sales Charge (%) (POP) 2.38 2.22 1.91 3.05 5.22
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.89
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/12/1988
Fund without Sales Charge (%) (NAV) 6.36 3.53 2.70 3.45 5.35
Fund with Sales Charge (%) (POP) 2.38 2.22 1.91 3.05 5.22
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.89

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) 6.36 1.66
Fund with Sales Charge (%) (POP) 2.38 -2.66
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 05/12/1988
Fund without Sales Charge (%) (NAV) 0.29 6.36 6.36 10.97 14.22 40.32 419.86
Fund with Sales Charge (%) (POP) -3.47 2.38 2.38 6.81 9.94 35.06 400.37
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 510.74
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/12/1988
Fund without Sales Charge (%) (NAV) 0.29 6.36 6.36 10.97 14.22 40.32 419.86
Fund with Sales Charge (%) (POP) -3.47 2.38 2.38 6.81 9.94 35.06 400.37
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 510.74

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.89 2.32 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.27 -0.11 -0.73
Beta 0.71 0.71 0.97
Sharpe Ratio 1.01 0.71 0.82
Information Ratio -1.22 -0.70 -0.71
Tracking Error 0.97 1.18 1.26
R-Squared 0.87 0.88 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.69 0.71 0.98
Beta Bear 0.74 0.64 0.89
Bull Bear Capture Ratio 1.03 1.00 0.85
% of Positive Months 69.44 66.67 67.50
Gains/Losses 3.67 2.40 2.11
Maximum Drawdown
1.10 3.18 8.52

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

Beta 0.71
Sharpe Ratio 1.01
Standard Deviation 1.89

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index