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 05/12/1988
Fund without Sales Charge (%) (NAV) 7.17 2.52 2.87 3.30 5.38
Fund with Sales Charge (%) (POP) 3.15 1.23 2.08 2.90 5.25
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/12/1988
Fund without Sales Charge (%) (NAV) 7.17 2.52 2.87 3.30 5.38
Fund with Sales Charge (%) (POP) 3.15 1.23 2.08 2.90 5.25
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.91

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 7.17 2.52 2.87 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 5.55 2.73 3.04 3.42
Fund with Sales Charge (%) (POP) Before Shares Sold 3.15 1.23 2.08 2.90
Fund with Sales Charge (%) (POP) After Shares Sold 3.13 1.72 2.41 3.09
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.17 2.52 2.87 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 5.55 2.73 3.04 3.42
Fund with Sales Charge (%) (POP) Before Shares Sold 3.15 1.23 2.08 2.90
Fund with Sales Charge (%) (POP) After Shares Sold 3.13 1.72 2.41 3.09

Calendar Year Returns

2018
Fund without Sales Charge (%) (NAV) 1.66
Fund with Sales Charge (%) (POP) -2.66
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 05/12/1988
Fund without Sales Charge (%) (NAV) 1.64 6.06 7.17 7.77 15.19 38.30 418.36
Fund with Sales Charge (%) (POP) -2.17 2.08 3.15 3.73 10.87 33.11 398.92
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/12/1988
Fund without Sales Charge (%) (NAV) 1.64 6.06 7.17 7.77 15.19 38.30 418.36
Fund with Sales Charge (%) (POP) -2.17 2.08 3.15 3.73 10.87 33.11 398.92
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 506.28

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.46 2.33 3.54
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.26 -0.02 -0.75
Beta 0.68 0.71 0.96
Sharpe Ratio 0.46 0.78 0.83
Information Ratio -0.71 -0.64 -0.73
Tracking Error 1.30 1.18 1.29
R-Squared 0.91 0.88 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.64 0.69 0.97
Beta Bear 0.66 0.64 0.89
Bull Bear Capture Ratio 1.02 1.02 0.84
% of Positive Months 66.67 66.67 66.67
Gains/Losses 2.26 2.45 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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.68
Sharpe Ratio 0.46
Standard Deviation 2.46

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index