Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.57 3.46 2.74 4.21 4.49
Fund with Sales Charge (%) (POP) 2.57 3.46 2.74 4.21 4.49
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.21 4.05 3.19 4.61
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.57 3.46 2.74 4.21 4.49
Fund with Sales Charge (%) (POP) 2.57 3.46 2.74 4.21 4.49
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) 4.21 4.05 3.19 4.61

After-Tax Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.57 3.46 2.74 4.21
Fund without Sales Charge (%) (NAV) After Shares Sold 3.26 3.35 2.80 4.08
Fund with Sales Charge (%) (POP) Before Shares Sold 2.57 3.46 2.74 4.21
Fund with Sales Charge (%) (POP) After Shares Sold 2.67 3.35 2.80 4.08
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.57 3.46 2.74 4.21
Fund without Sales Charge (%) (NAV) After Shares Sold 3.26 3.35 2.80 4.08
Fund with Sales Charge (%) (POP) Before Shares Sold 2.57 3.46 2.74 4.21
Fund with Sales Charge (%) (POP) After Shares Sold 2.67 3.35 2.80 4.08

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 03/31/2020

Month EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -1.51 -1.51 3.57 10.75 14.47 50.98 198.44
Fund with Sales Charge (%) (POP) -2.49 -2.49 2.57 10.75 14.47 50.98 198.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -0.49 -0.49 4.21 12.66 16.99 56.91
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -1.51 -1.51 3.57 10.75 14.47 50.98 198.44
Fund with Sales Charge (%) (POP) -2.49 -2.49 2.57 10.75 14.47 50.98 198.44
Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index (%) -0.49 -0.49 4.21 12.66 16.99 56.91

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.81 4.71 4.92
Standard Deviation (Linked Bloomberg Barclays Muni Bond California Exempt/Muni Bond Index) 3.49 3.52 3.97
Sharpe Ratio 0.37 0.35 0.74
Information Ratio -0.37 -0.30 -0.27
Tracking Error 1.56 1.47 1.47

ADDITIONAL RISK STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.34 1.31 1.08
Beta Bear 1.63 1.39 1.30
Bull Bear Capture Ratio 0.80 0.84 0.84
% of Positive Months 63.89 65.00 66.67
Gains/Losses 1.83 1.65 1.96
Maximum Drawdown
5.59 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 03/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.37
Standard Deviation 4.81

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