Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.43 2.74 2.77 3.08 3.99
Fund with Sales Charge (%) (POP) 2.43 2.74 2.77 3.08 3.99
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.16
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.78 2.90 2.30 3.09 3.96
Fund with Sales Charge (%) (POP) 2.78 2.90 2.30 3.09 3.96
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.11

After-Tax Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.43 2.74 2.77 3.07
Fund without Sales Charge (%) (NAV) After Shares Sold 2.91 2.65 2.71 3.02
Fund with Sales Charge (%) (POP) Before Shares Sold 2.43 2.74 2.77 3.07
Fund with Sales Charge (%) (POP) After Shares Sold 2.32 2.65 2.71 3.02
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.79 2.90 2.30 3.09
Fund without Sales Charge (%) (NAV) After Shares Sold 3.20 2.78 2.35 3.05
Fund with Sales Charge (%) (POP) Before Shares Sold 2.79 2.90 2.30 3.09
Fund with Sales Charge (%) (POP) After Shares Sold 2.61 2.78 2.35 3.05

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.25 -0.66 4.00 0.46 2.15 10.73 -5.85 6.62 10.45 -1.11
Fund with Sales Charge (%) (POP) 5.25 -1.63 3.00 -0.52 1.16 9.73 -6.77 5.62 9.45 -2.07
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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -1.93 1.42 3.43 8.45 14.65 35.41 166.72
Fund with Sales Charge (%) (POP) -2.91 0.42 2.43 8.45 14.65 35.41 166.72
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 252.96
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) 0.08 0.08 3.78 8.95 12.06 35.63 163.20
Fund with Sales Charge (%) (POP) -0.91 -0.91 2.78 8.95 12.06 35.63 163.20
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 246.43

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.87 3.50 4.33
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.33 0.51 0.58
Information Ratio -1.84 -1.25 -0.93
Tracking Error 0.70 0.83 1.19

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.07 1.02 1.14
Beta Bear 0.85 0.77 0.97
Bull Bear Capture Ratio 0.80 0.86 0.78
Gains/Losses 1.82 1.95 1.76

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 1.27%
Net Expense Ratio [further-information] 1.27%
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 0.33
Standard Deviation 3.87

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index