Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.34 2.77 2.97 3.87 4.44
Fund with Sales Charge (%) (POP) 0.36 2.77 2.97 3.87 4.44
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.34 2.77 2.97 3.87 4.44
Fund with Sales Charge (%) (POP) 0.36 2.77 2.97 3.87 4.44
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 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.34 2.77 2.97 3.87
Fund without Sales Charge (%) (NAV) After Shares Sold 2.19 2.99 3.15 3.90
Fund with Sales Charge (%) (POP) Before Shares Sold 0.36 2.77 2.97 3.87
Fund with Sales Charge (%) (POP) After Shares Sold 1.61 2.99 3.15 3.90
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.34 2.77 2.97 3.87
Fund without Sales Charge (%) (NAV) After Shares Sold 2.19 2.99 3.15 3.90
Fund with Sales Charge (%) (POP) Before Shares Sold 0.36 2.77 2.97 3.87
Fund with Sales Charge (%) (POP) After Shares Sold 1.61 2.99 3.15 3.90

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.06 1.44 3.13 0.57 2.65 13.35 -7.24 10.40 11.80 2.29
Fund with Sales Charge (%) (POP) 6.06 0.46 2.13 -0.40 1.67 12.35 -8.13 9.40 10.80 1.32
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 06/30/2020

Month 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) 2.91 -0.44 1.34 8.54 15.74 46.20 198.65
Fund with Sales Charge (%) (POP) 1.91 -1.42 0.36 8.54 15.74 46.20 198.65
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
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) 2.91 -0.44 1.34 8.54 15.74 46.20 198.65
Fund with Sales Charge (%) (POP) 1.91 -1.42 0.36 8.54 15.74 46.20 198.65
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 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.99 4.55 5.04
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.23 0.41 0.65
Information Ratio -0.75 -0.58 -0.18
Tracking Error 1.92 1.64 1.83

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

Gross Expense Ratio 1.19%
Net Expense Ratio [further-information] 1.19%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.23
Standard Deviation 4.99

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index