Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.10 2.59 2.34 3.10 4.08
Fund with Sales Charge (%) (POP) 2.10 2.59 2.34 3.10 4.08
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.16
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.23 2.47 1.92 3.12 4.04
Fund with Sales Charge (%) (POP) 2.23 2.47 1.92 3.12 4.04
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 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.10 2.59 2.34 3.10
Fund without Sales Charge (%) (NAV) After Shares Sold 2.75 2.58 2.44 3.11
Fund with Sales Charge (%) (POP) Before Shares Sold 2.10 2.59 2.34 3.10
Fund with Sales Charge (%) (POP) After Shares Sold 2.16 2.58 2.44 3.11
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.23 2.47 1.92 3.12
Fund without Sales Charge (%) (NAV) After Shares Sold 2.92 2.50 2.13 3.14
Fund with Sales Charge (%) (POP) Before Shares Sold 2.23 2.47 1.92 3.12
Fund with Sales Charge (%) (POP) After Shares Sold 2.33 2.50 2.13 3.14

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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -1.96 1.11 3.10 7.96 12.28 35.64 172.75
Fund with Sales Charge (%) (POP) -2.93 0.11 2.10 7.96 12.28 35.64 172.75
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 252.96
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) -0.42 -0.42 3.23 7.59 9.98 35.97 168.61
Fund with Sales Charge (%) (POP) -1.41 -1.41 2.23 7.59 9.98 35.97 168.61
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 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.72 3.36 4.21
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.33 0.43 0.61
Information Ratio -2.08 -1.45 -0.86
Tracking Error 0.65 0.95 1.22

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

3 YR 5 YR 10 YR
Beta Bull 1.02 0.94 1.11
Beta Bear 0.92 0.85 1.02
Bull Bear Capture Ratio 0.82 0.83 0.81
Gains/Losses 1.85 1.88 1.83

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.33
Standard Deviation 3.72

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index