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) 6.64 2.98 2.30 3.20 4.07
Fund with Sales Charge (%) (POP) 5.64 2.98 2.30 3.20 4.07
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) 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 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 6.64 2.98 2.30 3.20
Fund without Sales Charge (%) (NAV) After Shares Sold 5.04 2.96 2.46 3.23
Fund with Sales Charge (%) (POP) Before Shares Sold 5.64 2.98 2.30 3.20
Fund with Sales Charge (%) (POP) After Shares Sold 4.45 2.96 2.46 3.23
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.90 2.45 2.00 3.06
Fund without Sales Charge (%) (NAV) After Shares Sold 4.07 2.58 2.24 3.13
Fund with Sales Charge (%) (POP) Before Shares Sold 3.90 2.45 2.00 3.06
Fund with Sales Charge (%) (POP) After Shares Sold 3.48 2.58 2.24 3.13

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 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) 2.50 2.48 6.64 9.20 12.06 37.04 169.42
Fund with Sales Charge (%) (POP) 1.50 1.48 5.64 9.20 12.06 37.04 169.42
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) -0.07 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 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.97 2.19 3.73
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.66 0.56 0.71
Information Ratio -2.38 -1.39 -0.96
Tracking Error 0.99 1.23 1.35

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

3 YR 5 YR 10 YR
Beta Bull 0.73 0.69 1.07
Beta Bear 0.55 0.58 0.92
Bull Bear Capture Ratio 0.76 0.82 0.77
% of Positive Months 69.44 71.67 68.33
Gains/Losses 2.88 2.20 1.97
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.66
Standard Deviation 1.97

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index