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) 4.36 3.27 3.06 3.35 4.15
Fund with Sales Charge (%) (POP) 3.36 3.27 3.06 3.35 4.15
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) 4.33 3.36 2.52 3.32 4.11
Fund with Sales Charge (%) (POP) 3.33 3.36 2.52 3.32 4.11
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 4.36 3.27 3.06 3.35
Fund without Sales Charge (%) (NAV) After Shares Sold 3.50 3.06 2.93 3.25
Fund with Sales Charge (%) (POP) Before Shares Sold 3.36 3.27 3.06 3.35
Fund with Sales Charge (%) (POP) After Shares Sold 2.91 3.06 2.93 3.25
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.33 3.36 2.52 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 3.53 3.14 2.52 3.24
Fund with Sales Charge (%) (POP) Before Shares Sold 3.33 3.36 2.52 3.32
Fund with Sales Charge (%) (POP) After Shares Sold 2.94 3.14 2.52 3.24

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.23 0.09 4.09 0.37 2.78 9.61 -4.98 6.85 10.15 -1.01
Fund with Sales Charge (%) (POP) 5.23 -0.89 3.09 -0.61 1.79 8.61 -5.90 5.85 9.15 -1.97
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) -0.59 2.20 4.36 10.12 16.26 38.97 177.29
Fund with Sales Charge (%) (POP) -1.57 1.20 3.36 10.12 16.26 38.97 177.29
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) 0.54 0.54 4.33 10.41 13.26 38.65 172.78
Fund with Sales Charge (%) (POP) -0.46 -0.46 3.33 10.41 13.26 38.65 172.78
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) 3.15 3.04 3.93
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.57 0.67 0.71
Information Ratio -0.74 -0.78 -0.79
Tracking Error 1.05 0.99 1.06

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

3 YR 5 YR 10 YR
Beta Bull 0.89 0.89 1.08
Beta Bear 0.54 0.63 0.83
Bull Bear Capture Ratio 0.97 0.97 0.85
Gains/Losses 2.24 2.23 1.94

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

Gross Expense Ratio 1.21%
Net Expense Ratio [further-information] 1.21%
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 0.57
Standard Deviation 3.15

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index