Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 8.16 4.17 3.05 3.54 4.22
Fund with Sales Charge (%) (POP) 7.16 4.17 3.05 3.54 4.22
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.29
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.23 3.44 2.69 3.31 4.13
Fund with Sales Charge (%) (POP) 5.23 3.44 2.69 3.31 4.13
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19

After-Tax Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.16 4.17 3.05 3.54
Fund without Sales Charge (%) (NAV) After Shares Sold 5.82 3.76 2.92 3.40
Fund with Sales Charge (%) (POP) Before Shares Sold 7.16 4.17 3.05 3.54
Fund with Sales Charge (%) (POP) After Shares Sold 5.22 3.76 2.92 3.40
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.23 3.44 2.69 3.32
Fund without Sales Charge (%) (NAV) After Shares Sold 4.70 3.21 2.66 3.24
Fund with Sales Charge (%) (POP) Before Shares Sold 5.23 3.44 2.69 3.32
Fund with Sales Charge (%) (POP) After Shares Sold 4.11 3.21 2.66 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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 3.01 2.80 8.16 13.05 16.18 41.55 178.93
Fund with Sales Charge (%) (POP) 2.01 1.80 7.16 13.05 16.18 41.55 178.93
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 259.47
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.33 6.23 6.23 10.68 14.17 38.55 171.32
Fund with Sales Charge (%) (POP) -0.66 5.23 5.23 10.68 14.17 38.55 171.32
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.43 2.62 3.76
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.02 0.75 0.79
Information Ratio -2.66 -1.45 -1.04
Tracking Error 0.43 0.66 0.93

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.93 0.93 1.12
Beta Bear 0.93 0.73 0.98
Bull Bear Capture Ratio 0.83 0.88 0.81
% of Positive Months 72.22 68.33 65.83
Gains/Losses 3.27 2.40 2.08
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.02
Standard Deviation 2.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index