Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.87 3.81 3.76 4.34 4.56
Fund with Sales Charge (%) (POP) 2.87 3.81 3.76 4.34 4.56
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.83 4.33 3.95 4.67
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.87 3.81 3.76 4.34 4.56
Fund with Sales Charge (%) (POP) 2.87 3.81 3.76 4.34 4.56
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.83 4.33 3.95 4.67

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.87 3.81 3.76 4.34
Fund without Sales Charge (%) (NAV) After Shares Sold 3.33 3.59 3.59 4.16
Fund with Sales Charge (%) (POP) Before Shares Sold 2.87 3.81 3.76 4.34
Fund with Sales Charge (%) (POP) After Shares Sold 2.74 3.59 3.59 4.16
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.87 3.81 3.76 4.34
Fund without Sales Charge (%) (NAV) After Shares Sold 3.33 3.59 3.59 4.16
Fund with Sales Charge (%) (POP) Before Shares Sold 2.87 3.81 3.76 4.34
Fund with Sales Charge (%) (POP) After Shares Sold 2.74 3.59 3.59 4.16

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 8.43 -0.12 5.50 0.11 3.04 12.94 -4.39 9.72 10.58 1.42
Fund with Sales Charge (%) (POP) 7.43 -1.09 4.50 -0.86 2.04 11.94 -5.31 8.72 9.58 0.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 1.11 5.63 -0.14 3.51 9.96 -1.76 8.15 12.28 2.97

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 3.04 1.49 3.87 11.88 20.29 52.92 207.51
Fund with Sales Charge (%) (POP) 2.04 0.49 2.87 11.88 20.29 52.92 207.51
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 2.87 2.36 4.83 13.57 21.39 57.79
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 3.04 1.49 3.87 11.88 20.29 52.92 207.51
Fund with Sales Charge (%) (POP) 2.04 0.49 2.87 11.88 20.29 52.92 207.51
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 2.87 2.36 4.83 13.57 21.39 57.79

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.25 4.97 5.05
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.89 3.81 4.07
Sharpe Ratio 0.41 0.53 0.75
Information Ratio -0.31 -0.12 -0.21
Tracking Error 1.64 1.49 1.49

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.21 1.20 1.08
Beta Bear 1.62 1.44 1.30
Bull Bear Capture Ratio 0.81 0.87 0.85
% of Positive Months 63.89 68.33 66.67
Gains/Losses 1.82 1.90 1.96
Maximum Drawdown
7.17 7.17 8.81

SALES CHARGE, EXPENSES & FEES As of 08/01/2019 (updated annually)

Gross Expense Ratio 1.16%
Net Expense Ratio [further-information] 1.16%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.41
Standard Deviation 5.25

Benchmarks

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

  • Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index