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) 8.16 2.58 2.83 3.39 4.14
Fund with Sales Charge (%) (POP) 7.16 2.58 2.83 3.39 4.14
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) 7.47 2.36 2.98 3.21 4.16
Fund with Sales Charge (%) (POP) 6.47 2.36 2.98 3.21 4.16
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 8.16 2.58 2.83 3.39
Fund without Sales Charge (%) (NAV) After Shares Sold 5.87 2.54 2.77 3.31
Fund with Sales Charge (%) (POP) Before Shares Sold 7.16 2.58 2.83 3.39
Fund with Sales Charge (%) (POP) After Shares Sold 5.28 2.54 2.77 3.31
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.47 2.36 2.98 3.21
Fund without Sales Charge (%) (NAV) After Shares Sold 5.45 2.37 2.90 3.15
Fund with Sales Charge (%) (POP) Before Shares Sold 6.47 2.36 2.98 3.21
Fund with Sales Charge (%) (POP) After Shares Sold 4.86 2.37 2.90 3.15

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.09 4.09 0.37 2.78 9.61 -4.98 6.85 10.15 -1.01 9.71
Fund with Sales Charge (%) (POP) -0.89 3.09 -0.61 1.79 8.61 -5.90 5.85 9.15 -1.97 8.71
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) 0.80 5.84 8.16 7.95 14.95 39.61 170.31
Fund with Sales Charge (%) (POP) -0.20 4.84 7.16 7.95 14.95 39.61 170.31
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) 1.44 5.88 7.47 7.23 15.83 37.13 170.42
Fund with Sales Charge (%) (POP) 0.44 4.88 6.47 7.23 15.83 37.13 170.42
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) 2.91 2.73 3.73
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.35 0.68 0.77
Information Ratio -1.37 -1.02 -1.06
Tracking Error 0.75 0.71 0.95

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

3 YR 5 YR 10 YR
Beta Bull 0.90 0.98 1.12
Beta Bear 0.73 0.73 0.98
Bull Bear Capture Ratio 0.87 0.91 0.80
% of Positive Months 69.44 66.67 65.83
Gains/Losses 1.93 2.19 2.04
Maximum Drawdown
2.06 4.16 9.02

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

Gross Expense Ratio 1.20%
Net Expense Ratio [further-information] 1.20%
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 0.35
Standard Deviation 2.91

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index