Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.33 2.74 2.58 2.92 4.00
Fund with Sales Charge (%) (POP) 2.33 2.74 2.58 2.92 4.00
Bloomberg Barclays Municipal Bond Index (%) 5.36 4.52 4.13 4.26 5.23
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.36 2.43 2.30 2.86 3.96
Fund with Sales Charge (%) (POP) 1.36 2.43 2.30 2.86 3.96
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.33 2.74 2.58 2.92
Fund without Sales Charge (%) (NAV) After Shares Sold 2.96 2.75 2.66 2.99
Fund with Sales Charge (%) (POP) Before Shares Sold 2.33 2.74 2.58 2.92
Fund with Sales Charge (%) (POP) After Shares Sold 2.36 2.75 2.66 2.99
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.36 2.43 2.29 2.86
Fund without Sales Charge (%) (NAV) After Shares Sold 2.40 2.53 2.45 2.95
Fund with Sales Charge (%) (POP) Before Shares Sold 1.36 2.43 2.29 2.86
Fund with Sales Charge (%) (POP) After Shares Sold 1.81 2.53 2.45 2.95

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 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 4.15 2.47 3.33 8.45 13.57 33.35 169.39
Fund with Sales Charge (%) (POP) 3.15 1.47 2.33 8.45 13.57 33.35 169.39
Bloomberg Barclays Municipal Bond Index (%) 5.78 3.80 5.36 14.18 22.42 51.77 261.86
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 1.18 1.17 2.36 7.48 12.01 32.58 165.98
Fund with Sales Charge (%) (POP) 0.18 0.17 1.36 7.48 12.01 32.58 165.98
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.97 2.75 3.91
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Sharpe Ratio 0.38 0.53 0.60
Information Ratio -1.45 -1.14 -0.94
Tracking Error 1.22 1.36 1.43

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.76 0.71 1.00
Beta Bear 0.64 0.63 0.80
Bull Bear Capture Ratio 0.84 0.88 0.79
% of Positive Months 69.44 73.33 67.50
Gains/Losses 2.02 2.07 1.79
Maximum Drawdown
4.00 4.00 9.75

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 1.22%
Net Expense Ratio [further-information] 1.22%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.38
Standard Deviation 2.97

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index