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) 4.33 3.38 2.62 2.87 3.95
Fund with Sales Charge (%) (POP) 3.33 3.38 2.62 2.87 3.95
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.35 3.15 2.17 2.84 3.91
Fund with Sales Charge (%) (POP) 3.35 3.15 2.17 2.84 3.91

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 4.34 3.38 2.62 2.87
Fund without Sales Charge (%) (NAV) After Shares Sold 3.43 3.15 2.60 2.88
Fund with Sales Charge (%) (POP) Before Shares Sold 3.34 3.38 2.62 2.87
Fund with Sales Charge (%) (POP) After Shares Sold 2.83 3.15 2.60 2.88
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.35 3.15 2.17 2.84
Fund without Sales Charge (%) (NAV) After Shares Sold 3.51 2.98 2.26 2.87
Fund with Sales Charge (%) (POP) Before Shares Sold 3.35 3.15 2.17 2.84
Fund with Sales Charge (%) (POP) After Shares Sold 2.92 2.98 2.26 2.87

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.69 0.27 2.78 0.59 0.33 10.38 -5.69 5.52 9.24 -0.24
Fund with Sales Charge (%) (POP) 5.69 -0.71 1.78 -0.38 -0.64 9.38 -6.60 4.52 8.24 -1.20
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) -0.89 2.11 4.33 10.49 13.80 32.71 164.48
Fund with Sales Charge (%) (POP) -1.88 1.11 3.33 10.49 13.80 32.71 164.48
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) 0.42 0.42 4.35 9.74 11.35 32.37 160.12
Fund with Sales Charge (%) (POP) -0.57 -0.57 3.35 9.74 11.35 32.37 160.12

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.44 3.16 3.64
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.55 0.53 0.64
Information Ratio -0.77 -0.95 -1.07
Tracking Error 0.87 1.20 1.23

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

3 YR 5 YR 10 YR
Beta Bull 1.02 0.93 0.94
Beta Bear 0.65 0.67 0.83
Bull Bear Capture Ratio 0.97 0.91 0.82
Gains/Losses 2.22 2.03 1.86

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

Gross Expense Ratio 1.22%
Net Expense Ratio [further-information] 1.22%
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 0.55
Standard Deviation 3.44

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index