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) 8.32 2.32 2.19 3.06 3.89
Fund with Sales Charge (%) (POP) 7.32 2.32 2.19 3.06 3.89
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) 7.54 2.07 2.31 2.86 3.90
Fund with Sales Charge (%) (POP) 6.54 2.07 2.31 2.86 3.90
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 8.32 2.32 2.19 3.06
Fund without Sales Charge (%) (NAV) After Shares Sold 5.88 2.31 2.23 2.98
Fund with Sales Charge (%) (POP) Before Shares Sold 7.32 2.32 2.19 3.06
Fund with Sales Charge (%) (POP) After Shares Sold 5.29 2.31 2.23 2.98
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.54 2.07 2.31 2.86
Fund without Sales Charge (%) (NAV) After Shares Sold 5.42 2.11 2.33 2.82
Fund with Sales Charge (%) (POP) Before Shares Sold 6.54 2.07 2.31 2.86
Fund with Sales Charge (%) (POP) After Shares Sold 4.83 2.11 2.33 2.82

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) -0.24 3.40 -0.29 1.57 7.59 -4.26 6.04 10.31 0.63 10.03
Fund with Sales Charge (%) (POP) -1.22 2.40 -1.27 0.58 6.59 -5.20 5.04 9.31 -0.34 9.03
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) 0.82 5.94 8.32 7.13 11.41 35.15 154.51
Fund with Sales Charge (%) (POP) -0.18 4.94 7.32 7.13 11.41 35.15 154.51
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) 1.48 5.93 7.54 6.33 12.08 32.58 154.49
Fund with Sales Charge (%) (POP) 0.48 4.93 6.54 6.33 12.08 32.58 154.49
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) 2.95 2.60 3.38
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.26 0.46 0.75
Information Ratio -1.74 -2.01 -2.06
Tracking Error 0.74 0.68 0.65

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

3 YR 5 YR 10 YR
Beta Bull 0.96 0.92 1.06
Beta Bear 0.70 0.73 0.90
Bull Bear Capture Ratio 0.81 0.79 0.79
% of Positive Months 66.67 66.67 62.50
Gains/Losses 1.80 1.92 2.02
Maximum Drawdown
2.44 3.93 7.50

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

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
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 0.26
Standard Deviation 2.95

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index