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 05/01/1995
Fund without Sales Charge (%) (NAV) 8.43 4.54 3.34 4.58 4.60
Fund with Sales Charge (%) (POP) 7.43 4.54 3.34 4.58 4.60
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 4.77 3.52 4.85
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 8.43 4.54 3.34 4.58 4.60
Fund with Sales Charge (%) (POP) 7.43 4.54 3.34 4.58 4.60
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 7.67 4.77 3.52 4.85

After-Tax 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
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.43 4.54 3.34 4.58
Fund without Sales Charge (%) (NAV) After Shares Sold 6.22 4.18 3.27 4.38
Fund with Sales Charge (%) (POP) Before Shares Sold 7.43 4.54 3.34 4.58
Fund with Sales Charge (%) (POP) After Shares Sold 5.62 4.18 3.27 4.38
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.43 4.54 3.34 4.58
Fund without Sales Charge (%) (NAV) After Shares Sold 6.22 4.18 3.27 4.38
Fund with Sales Charge (%) (POP) Before Shares Sold 7.43 4.54 3.34 4.58
Fund with Sales Charge (%) (POP) After Shares Sold 5.62 4.18 3.27 4.38

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 12/31/2019

Month EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.22 8.43 8.43 14.24 17.84 56.42 203.00
Fund with Sales Charge (%) (POP) -0.77 7.43 7.43 14.24 17.84 56.42 203.00
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 0.69 7.67 7.67 14.99 18.87 60.56
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.22 8.43 8.43 14.24 17.84 56.42 203.00
Fund with Sales Charge (%) (POP) -0.77 7.43 7.43 14.24 17.84 56.42 203.00
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 0.69 7.67 7.67 14.99 18.87 60.56

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.08 3.89 4.48
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 2.51 3.10 3.75
Sharpe Ratio 0.95 0.59 0.90
Information Ratio -0.24 -0.16 -0.20
Tracking Error 0.93 1.10 1.29

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

3 YR 5 YR 10 YR
Beta Bull 1.28 1.29 1.06
Beta Bear 1.06 1.20 1.19
Bull Bear Capture Ratio 0.84 0.86 0.85
% of Positive Months 63.89 65.00 67.50
Gains/Losses 2.87 1.98 2.19
Maximum Drawdown
2.28 6.65 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 12/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.95
Standard Deviation 3.08

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