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) 3.31 2.96 2.64 3.47 4.22
Fund with Sales Charge (%) (POP) 2.31 2.96 2.64 3.47 4.22
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.31 2.96 2.64 3.47 4.22
Fund with Sales Charge (%) (POP) 2.31 2.96 2.64 3.47 4.22
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

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 3.31 2.96 2.64 3.47
Fund without Sales Charge (%) (NAV) After Shares Sold 3.00 2.95 2.73 3.45
Fund with Sales Charge (%) (POP) Before Shares Sold 2.31 2.96 2.64 3.47
Fund with Sales Charge (%) (POP) After Shares Sold 2.41 2.95 2.73 3.45
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.31 2.96 2.64 3.47
Fund without Sales Charge (%) (NAV) After Shares Sold 3.00 2.95 2.73 3.45
Fund with Sales Charge (%) (POP) Before Shares Sold 2.31 2.96 2.64 3.47
Fund with Sales Charge (%) (POP) After Shares Sold 2.41 2.95 2.73 3.45

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.27 0.05 3.03 0.14 1.88 10.51 -4.91 8.44 11.51 0.30
Fund with Sales Charge (%) (POP) 5.27 -0.92 2.03 -0.83 0.89 9.51 -5.83 7.44 10.51 -0.67
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

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) 2.14 1.56 3.31 9.13 13.90 40.64 183.28
Fund with Sales Charge (%) (POP) 1.14 0.56 2.31 9.13 13.90 40.64 183.28
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
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) 2.14 1.56 3.31 9.13 13.90 40.64 183.28
Fund with Sales Charge (%) (POP) 1.14 0.56 2.31 9.13 13.90 40.64 183.28
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.94 3.50 4.12
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.34 0.44 0.70
Information Ratio -1.86 -1.53 -0.78
Tracking Error 0.68 0.84 0.95

SALES CHARGE, EXPENSES & FEES As of 09/01/2019 (updated annually)

Gross Expense Ratio 1.18%
Net Expense Ratio [further-information] 1.18%
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 0.34
Standard Deviation 3.94

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index