Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 8.86 3.87 2.76 3.82 4.35
Fund with Sales Charge (%) (POP) 7.86 3.87 2.76 3.82 4.35
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.29
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.27 3.08 2.25 3.59 4.25
Fund with Sales Charge (%) (POP) 5.27 3.08 2.25 3.59 4.25
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19

After-Tax Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.85 3.87 2.76 3.82
Fund without Sales Charge (%) (NAV) After Shares Sold 6.37 3.66 2.82 3.73
Fund with Sales Charge (%) (POP) Before Shares Sold 7.85 3.87 2.76 3.82
Fund with Sales Charge (%) (POP) After Shares Sold 5.78 3.66 2.82 3.73
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.27 3.08 2.25 3.59
Fund without Sales Charge (%) (NAV) After Shares Sold 4.89 3.08 2.44 3.56
Fund with Sales Charge (%) (POP) Before Shares Sold 5.27 3.08 2.25 3.59
Fund with Sales Charge (%) (POP) After Shares Sold 4.30 3.08 2.44 3.56

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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 3.45 3.31 8.86 12.07 14.58 45.47 188.17
Fund with Sales Charge (%) (POP) 2.45 2.31 7.86 12.07 14.58 45.47 188.17
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 259.47
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) 0.21 6.27 6.27 9.54 11.75 42.32 178.93
Fund with Sales Charge (%) (POP) -0.78 5.27 5.27 9.54 11.75 42.32 178.93
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.38 2.56 3.74
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.92 0.65 0.87
Information Ratio -2.07 -1.59 -0.73
Tracking Error 0.70 0.79 0.93

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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.92
Standard Deviation 2.38

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index