Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.99 3.01 2.66 3.29 4.01
Fund with Sales Charge (%) (POP) 1.99 3.01 2.66 3.29 4.01
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.99 3.01 2.66 3.29 4.01
Fund with Sales Charge (%) (POP) 1.99 3.01 2.66 3.29 4.01
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.99 3.01 2.66 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.91 2.67 3.26
Fund with Sales Charge (%) (POP) Before Shares Sold 1.99 3.01 2.66 3.29
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.91 2.67 3.26
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.99 3.01 2.66 3.29
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.91 2.67 3.26
Fund with Sales Charge (%) (POP) Before Shares Sold 1.99 3.01 2.66 3.29
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.91 2.67 3.26

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 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.92 1.09 2.99 9.29 14.01 38.23 168.85
Fund with Sales Charge (%) (POP) 0.92 0.09 1.99 9.29 14.01 38.23 168.85
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.92 1.09 2.99 9.29 14.01 38.23 168.85
Fund with Sales Charge (%) (POP) 0.92 0.09 1.99 9.29 14.01 38.23 168.85
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.86 3.51 4.20
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.35 0.44 0.65
Information Ratio -2.17 -1.47 -0.83
Tracking Error 0.55 0.86 1.11

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

3 YR 5 YR 10 YR
Beta Bull 0.99 0.94 1.10
Beta Bear 1.07 0.95 1.06
Bull Bear Capture Ratio 0.82 0.84 0.83
Gains/Losses 1.89 1.90 1.87

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 0.35
Standard Deviation 3.86

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index