Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 5.78 1.59 2.25 2.98 4.04
Fund with Sales Charge (%) (POP) 4.78 1.59 2.25 2.98 4.04
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) 5.78 1.59 2.25 2.98 4.04
Fund with Sales Charge (%) (POP) 4.78 1.59 2.25 2.98 4.04
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 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.78 1.59 2.25 2.98
Fund without Sales Charge (%) (NAV) After Shares Sold 4.64 1.91 2.44 3.06
Fund with Sales Charge (%) (POP) Before Shares Sold 4.78 1.59 2.25 2.98
Fund with Sales Charge (%) (POP) After Shares Sold 4.05 1.91 2.44 3.06
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.78 1.59 2.25 2.98
Fund without Sales Charge (%) (NAV) After Shares Sold 4.64 1.91 2.44 3.06
Fund with Sales Charge (%) (POP) Before Shares Sold 4.78 1.59 2.25 2.98
Fund with Sales Charge (%) (POP) After Shares Sold 4.05 1.91 2.44 3.06

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.71 1.80 1.31 1.31 10.12 -6.70 6.85 10.94 0.56 15.21
Fund with Sales Charge (%) (POP) -0.27 0.81 0.33 0.33 9.12 -7.60 5.85 9.94 -0.41 14.21
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 09/30/2019

Month 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) 1.24 4.97 5.78 4.85 11.74 34.09 163.07
Fund with Sales Charge (%) (POP) 0.24 3.97 4.78 4.85 11.74 34.09 163.07
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) 1.24 4.97 5.78 4.85 11.74 34.09 163.07
Fund with Sales Charge (%) (POP) 0.24 3.97 4.78 4.85 11.74 34.09 163.07
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) 2.34 2.31 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.06 0.50 0.70
Information Ratio -1.42 -1.13 -0.93
Tracking Error 1.35 1.24 1.36

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

3 YR 5 YR 10 YR
Beta Bull 0.64 0.73 1.07
Beta Bear 0.60 0.59 0.92
Bull Bear Capture Ratio 0.78 0.85 0.78
% of Positive Months 66.67 70.00 68.33
Gains/Losses 1.72 2.02 1.95
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 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.06
Standard Deviation 2.34

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index