Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.33 1.68 2.09 3.24 3.99
Fund with Sales Charge (%) (POP) 6.33 1.68 2.09 3.24 3.99
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.21
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.45 1.44 2.20 3.00 4.00
Fund with Sales Charge (%) (POP) 5.45 1.44 2.20 3.00 4.00
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.22

After-Tax Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.33 1.67 2.09 3.24
Fund without Sales Charge (%) (NAV) After Shares Sold 5.48 1.91 2.25 3.22
Fund with Sales Charge (%) (POP) Before Shares Sold 6.33 1.67 2.09 3.24
Fund with Sales Charge (%) (POP) After Shares Sold 4.89 1.91 2.25 3.22
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.45 1.45 2.20 3.00
Fund without Sales Charge (%) (NAV) After Shares Sold 4.96 1.73 2.34 3.03
Fund with Sales Charge (%) (POP) Before Shares Sold 5.45 1.45 2.20 3.00
Fund with Sales Charge (%) (POP) After Shares Sold 4.37 1.73 2.34 3.03

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) -0.07 1.96 0.71 1.46 9.94 -5.68 7.69 10.99 0.04 13.54
Fund with Sales Charge (%) (POP) -1.04 0.96 -0.26 0.48 8.94 -6.60 6.69 9.99 -0.92 12.54
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.75 5.48 7.33 5.11 10.88 37.54 160.87
Fund with Sales Charge (%) (POP) -0.25 4.48 6.33 5.11 10.88 37.54 160.87
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 246.70
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.28 5.45 6.45 4.40 11.49 34.43 160.80
Fund with Sales Charge (%) (POP) 0.28 4.45 5.45 4.40 11.49 34.43 160.80
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 246.08

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.67 2.53 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.04 0.44 0.72
Information Ratio -1.89 -1.50 -1.03
Tracking Error 1.03 0.97 1.13

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.76 0.83 1.09
Beta Bear 0.68 0.69 1.05
Bull Bear Capture Ratio 0.73 0.78 0.78
% of Positive Months 69.44 71.67 70.00
Gains/Losses 1.62 1.88 1.97
Maximum Drawdown
1.80 3.71 9.46

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 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.04
Standard Deviation 2.67

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index