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) 8.36 3.59 2.62 3.51 4.21
Fund with Sales Charge (%) (POP) 7.36 3.59 2.62 3.51 4.21
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) 6.01 2.88 2.17 3.30 4.10
Fund with Sales Charge (%) (POP) 5.01 2.88 2.17 3.30 4.10
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 8.37 3.59 2.63 3.51
Fund without Sales Charge (%) (NAV) After Shares Sold 5.99 3.36 2.66 3.44
Fund with Sales Charge (%) (POP) Before Shares Sold 7.37 3.59 2.63 3.51
Fund with Sales Charge (%) (POP) After Shares Sold 5.39 3.36 2.66 3.44
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.01 2.88 2.17 3.30
Fund without Sales Charge (%) (NAV) After Shares Sold 4.64 2.83 2.33 3.29
Fund with Sales Charge (%) (POP) Before Shares Sold 5.01 2.88 2.17 3.30
Fund with Sales Charge (%) (POP) After Shares Sold 4.05 2.83 2.33 3.29

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.01 0.44 2.26 0.82 1.42 10.35 -5.80 7.75 11.54 -0.55
Fund with Sales Charge (%) (POP) 5.01 -0.54 1.27 -0.16 0.44 9.35 -6.71 6.75 10.54 -1.51
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) 3.24 3.13 8.36 11.15 13.83 41.20 178.20
Fund with Sales Charge (%) (POP) 2.24 2.13 7.36 11.15 13.83 41.20 178.20
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) 0.06 6.01 6.01 8.88 11.33 38.33 169.75
Fund with Sales Charge (%) (POP) -0.94 5.01 5.01 8.88 11.33 38.33 169.75
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 2.58 3.91
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.78 0.60 0.75
Information Ratio -2.22 -1.43 -0.80
Tracking Error 0.78 0.97 1.23

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

3 YR 5 YR 10 YR
Beta Bull 0.96 0.90 1.13
Beta Bear 0.67 0.74 1.10
Bull Bear Capture Ratio 0.76 0.83 0.80
% of Positive Months 66.67 68.33 67.50
Gains/Losses 2.82 2.21 2.04
Maximum Drawdown
1.71 3.77 9.30

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

Gross Expense Ratio 1.24%
Net Expense Ratio [further-information] 1.24%
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 0.78
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