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) 7.06 3.85 2.94 4.38 4.55
Fund with Sales Charge (%) (POP) 6.06 3.85 2.94 4.38 4.55
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) 7.06 3.85 2.94 4.38 4.55
Fund with Sales Charge (%) (POP) 6.06 3.85 2.94 4.38 4.55
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

Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.06 3.85 2.94 4.38
Fund without Sales Charge (%) (NAV) After Shares Sold 5.79 3.84 3.12 4.32
Fund with Sales Charge (%) (POP) Before Shares Sold 6.06 3.85 2.94 4.38
Fund with Sales Charge (%) (POP) After Shares Sold 5.20 3.84 3.12 4.32
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.06 3.85 2.94 4.38
Fund without Sales Charge (%) (NAV) After Shares Sold 5.79 3.84 3.12 4.32
Fund with Sales Charge (%) (POP) Before Shares Sold 6.06 3.85 2.94 4.38
Fund with Sales Charge (%) (POP) After Shares Sold 5.20 3.84 3.12 4.32

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 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) 0.15 7.06 7.06 11.99 15.62 53.50 199.96
Fund with Sales Charge (%) (POP) -0.84 6.06 6.06 11.99 15.62 53.50 199.96
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) 0.15 7.06 7.06 11.99 15.62 53.50 199.96
Fund with Sales Charge (%) (POP) -0.84 6.06 6.06 11.99 15.62 53.50 199.96
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) 2.24 3.16 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 0.99 0.60 0.87
Information Ratio -0.95 -0.58 0.03
Tracking Error 0.92 1.00 1.58

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

Gross Expense Ratio 1.21%
Net Expense Ratio [further-information] 1.21%
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 0.99
Standard Deviation 2.24

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index