Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.90 2.45 1.99 3.06 4.00
Fund with Sales Charge (%) (POP) 3.90 2.45 1.99 3.06 4.00
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.90 2.45 1.99 3.06 4.00
Fund with Sales Charge (%) (POP) 3.90 2.45 1.99 3.06 4.00
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 12/31/2019

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 4.90 0.71 1.80 1.31 1.31 10.12 -6.70 6.85 10.94 0.56
Fund with Sales Charge (%) (POP) 3.90 -0.27 0.81 0.33 0.33 9.12 -7.60 5.85 9.94 -0.41
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 12/31/2019

Month 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) -0.07 4.90 4.90 7.55 10.38 35.18 162.90
Fund with Sales Charge (%) (POP) -1.06 3.90 3.90 7.55 10.38 35.18 162.90
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63
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) -0.07 4.90 4.90 7.55 10.38 35.18 162.90
Fund with Sales Charge (%) (POP) -1.06 3.90 3.90 7.55 10.38 35.18 162.90
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 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.79 2.30 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 0.46 0.42 0.68
Information Ratio -2.32 -1.24 -0.95
Tracking Error 0.98 1.24 1.35

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.68 0.76 1.08
Beta Bear 0.55 0.59 0.92
Bull Bear Capture Ratio 0.74 0.82 0.77
% of Positive Months 69.44 70.00 68.33
Gains/Losses 2.55 1.94 1.93
Maximum Drawdown
1.27 3.32 9.75

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

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.46
Standard Deviation 1.79

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index