Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 8.45 2.39 2.63 3.28 4.02
Fund with Sales Charge (%) (POP) 7.45 2.39 2.63 3.28 4.02
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.21
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.51 2.09 2.79 3.07 4.03
Fund with Sales Charge (%) (POP) 6.51 2.09 2.79 3.07 4.03
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.22

After-Tax Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.45 2.39 2.62 3.27
Fund without Sales Charge (%) (NAV) After Shares Sold 6.06 2.40 2.61 3.20
Fund with Sales Charge (%) (POP) Before Shares Sold 7.45 2.39 2.62 3.27
Fund with Sales Charge (%) (POP) After Shares Sold 5.47 2.40 2.61 3.20
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.51 2.09 2.79 3.07
Fund without Sales Charge (%) (NAV) After Shares Sold 5.50 2.17 2.75 3.03
Fund with Sales Charge (%) (POP) Before Shares Sold 6.51 2.09 2.79 3.07
Fund with Sales Charge (%) (POP) After Shares Sold 4.90 2.17 2.75 3.03

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) -0.66 4.00 0.46 2.15 10.73 -5.85 6.62 10.45 -1.11 13.40
Fund with Sales Charge (%) (POP) -1.63 3.00 -0.52 1.16 9.73 -6.77 5.62 9.45 -2.07 12.40
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.89 6.14 8.45 7.33 13.83 38.02 162.70
Fund with Sales Charge (%) (POP) -0.11 5.14 7.45 7.33 13.83 38.02 162.70
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 246.70
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.50 6.12 7.51 6.39 14.75 35.29 162.65
Fund with Sales Charge (%) (POP) 0.50 5.12 6.51 6.39 14.75 35.29 162.65
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 246.08

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.04 2.81 4.00
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.27 0.58 0.69
Information Ratio -1.39 -1.17 -0.94
Tracking Error 0.88 0.79 1.19

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.01 0.98 1.16
Beta Bear 0.68 0.71 1.06
Bull Bear Capture Ratio 0.82 0.84 0.75
% of Positive Months 66.67 66.67 66.67
Gains/Losses 1.80 2.01 1.90
Maximum Drawdown
2.78 4.12 10.40

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 1.26%
Net Expense Ratio [further-information] 1.26%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.27
Standard Deviation 3.04

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index