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) 3.06 2.76 1.99 3.26 3.97
Fund with Sales Charge (%) (POP) 2.06 2.76 1.99 3.26 3.97
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) 3.06 2.76 1.99 3.26 3.97
Fund with Sales Charge (%) (POP) 2.06 2.76 1.99 3.26 3.97
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 3.06 2.76 1.99 3.26
Fund without Sales Charge (%) (NAV) After Shares Sold 2.81 2.74 2.17 3.25
Fund with Sales Charge (%) (POP) Before Shares Sold 2.06 2.76 1.99 3.26
Fund with Sales Charge (%) (POP) After Shares Sold 2.22 2.74 2.17 3.25
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.06 2.76 1.99 3.26
Fund without Sales Charge (%) (NAV) After Shares Sold 2.81 2.74 2.17 3.25
Fund with Sales Charge (%) (POP) Before Shares Sold 2.06 2.76 1.99 3.26
Fund with Sales Charge (%) (POP) After Shares Sold 2.22 2.74 2.17 3.25

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.44 0.15 3.50 0.43 1.36 10.42 -5.52 8.20 10.27 0.25
Fund with Sales Charge (%) (POP) 5.44 -0.83 2.50 -0.55 0.38 9.42 -6.44 7.20 9.27 -0.72
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) -0.82 -0.82 3.06 8.52 10.37 37.78 163.79
Fund with Sales Charge (%) (POP) -1.80 -1.80 2.06 8.52 10.37 37.78 163.79
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) -0.82 -0.82 3.06 8.52 10.37 37.78 163.79
Fund with Sales Charge (%) (POP) -1.80 -1.80 2.06 8.52 10.37 37.78 163.79
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) 3.36 3.20 4.07
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.48 3.48 3.68
Sharpe Ratio 0.32 0.28 0.66
Information Ratio -1.82 -1.37 -0.80
Tracking Error 0.65 0.87 1.10

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

3 YR 5 YR 10 YR
Beta Bull 0.93 0.91 1.13
Beta Bear 1.08 0.92 1.06
Bull Bear Capture Ratio 0.84 0.82 0.83
Gains/Losses 1.97 1.70 1.89

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (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 03/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.32
Standard Deviation 3.36

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index