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) 2.84 2.23 1.67 2.98 3.91
Fund with Sales Charge (%) (POP) 1.84 2.23 1.67 2.98 3.91
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.84 2.23 1.67 2.98 3.91
Fund with Sales Charge (%) (POP) 1.84 2.23 1.67 2.98 3.91

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 2.84 2.23 1.67 2.98
Fund without Sales Charge (%) (NAV) After Shares Sold 2.72 2.33 1.91 3.01
Fund with Sales Charge (%) (POP) Before Shares Sold 1.84 2.23 1.67 2.98
Fund with Sales Charge (%) (POP) After Shares Sold 2.12 2.33 1.91 3.01
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.84 2.23 1.67 2.98
Fund without Sales Charge (%) (NAV) After Shares Sold 2.72 2.33 1.91 3.01
Fund with Sales Charge (%) (POP) Before Shares Sold 1.84 2.23 1.67 2.98
Fund with Sales Charge (%) (POP) After Shares Sold 2.12 2.33 1.91 3.01

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.69 -0.07 1.96 0.71 1.46 9.94 -5.68 7.69 10.99 0.04
Fund with Sales Charge (%) (POP) 4.69 -1.04 0.96 -0.26 0.48 8.94 -6.60 6.69 9.99 -0.92
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) -0.47 -0.47 2.84 6.85 8.63 34.13 160.18
Fund with Sales Charge (%) (POP) -1.46 -1.46 1.84 6.85 8.63 34.13 160.18
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) -0.47 -0.47 2.84 6.85 8.63 34.13 160.18
Fund with Sales Charge (%) (POP) -1.46 -1.46 1.84 6.85 8.63 34.13 160.18

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.05 2.90 3.96
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.48 3.48 3.68
Sharpe Ratio 0.17 0.19 0.61
Information Ratio -2.30 -1.55 -1.05
Tracking Error 0.75 0.98 1.11

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

3 YR 5 YR 10 YR
Beta Bull 0.83 0.82 1.10
Beta Bear 0.88 0.78 0.98
Bull Bear Capture Ratio 0.76 0.78 0.79
Gains/Losses 1.79 1.61 1.82

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

Gross Expense Ratio 1.27%
Net Expense Ratio [further-information] 1.27%
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 0.17
Standard Deviation 3.05

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index