Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.84 2.87 2.01 2.94 3.84
Fund with Sales Charge (%) (POP) 2.84 2.87 2.01 2.94 3.84
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.11
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.84 2.87 2.01 2.94 3.84
Fund with Sales Charge (%) (POP) 2.84 2.87 2.01 2.94 3.84
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 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.84 2.87 2.01 2.94
Fund without Sales Charge (%) (NAV) After Shares Sold 3.11 2.72 2.08 2.88
Fund with Sales Charge (%) (POP) Before Shares Sold 2.84 2.87 2.01 2.94
Fund with Sales Charge (%) (POP) After Shares Sold 2.52 2.72 2.08 2.88
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.84 2.87 2.01 2.94
Fund without Sales Charge (%) (NAV) After Shares Sold 3.11 2.72 2.08 2.88
Fund with Sales Charge (%) (POP) Before Shares Sold 2.84 2.87 2.01 2.94
Fund with Sales Charge (%) (POP) After Shares Sold 2.52 2.72 2.08 2.88

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.12 -0.24 3.40 -0.29 1.57 7.59 -4.26 6.04 10.31 0.63
Fund with Sales Charge (%) (POP) 5.12 -1.22 2.40 -1.27 0.58 6.59 -5.20 5.04 9.31 -0.34
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 03/31/2020

Month 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) 0.36 0.36 3.84 8.85 10.46 33.67 155.83
Fund with Sales Charge (%) (POP) -0.64 -0.64 2.84 8.85 10.46 33.67 155.83
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 246.43
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) 0.36 0.36 3.84 8.85 10.46 33.67 155.83
Fund with Sales Charge (%) (POP) -0.64 -0.64 2.84 8.85 10.46 33.67 155.83
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 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.03 2.87 3.52
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.48 3.48 3.68
Sharpe Ratio 0.39 0.32 0.67
Information Ratio -1.35 -1.37 -1.60
Tracking Error 0.80 0.86 0.75

ADDITIONAL RISK STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.01 0.95 1.06
Beta Bear 0.64 0.69 0.82
Bull Bear Capture Ratio 0.86 0.85 0.83
% of Positive Months 63.89 65.00 62.50
Gains/Losses 2.02 1.76 1.92
Maximum Drawdown
2.54 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 03/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.39
Standard Deviation 3.03

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index