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) 8.95 4.08 3.04 3.46 4.11
Fund with Sales Charge (%) (POP) 7.95 4.08 3.04 3.46 4.11
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) 6.25 3.16 2.41 3.18 4.00
Fund with Sales Charge (%) (POP) 5.25 3.16 2.41 3.18 4.00
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 8.95 4.08 3.04 3.46
Fund without Sales Charge (%) (NAV) After Shares Sold 6.28 3.68 2.91 3.33
Fund with Sales Charge (%) (POP) Before Shares Sold 7.95 4.08 3.04 3.46
Fund with Sales Charge (%) (POP) After Shares Sold 5.69 3.68 2.91 3.33
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.25 3.16 2.41 3.18
Fund without Sales Charge (%) (NAV) After Shares Sold 4.72 2.99 2.44 3.12
Fund with Sales Charge (%) (POP) Before Shares Sold 5.25 3.16 2.41 3.18
Fund with Sales Charge (%) (POP) After Shares Sold 4.13 2.99 2.44 3.12

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 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) 3.61 3.42 8.95 12.74 16.16 40.50 171.97
Fund with Sales Charge (%) (POP) 2.61 2.42 7.95 12.74 16.16 40.50 171.97
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) 0.13 6.25 6.25 9.77 12.65 36.75 162.98
Fund with Sales Charge (%) (POP) -0.87 5.25 5.25 9.77 12.65 36.75 162.98
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) 2.74 2.80 4.05
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.87 0.70 0.71
Information Ratio -2.18 -1.26 -0.88
Tracking Error 0.57 0.77 1.19

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.11 1.05 1.17
Beta Bear 1.03 0.70 1.06
Bull Bear Capture Ratio 0.76 0.85 0.76
% of Positive Months 66.67 66.67 65.83
Gains/Losses 2.92 2.29 1.95
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.87
Standard Deviation 2.74

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index