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 09/01/1987
Fund without Sales Charge (%) (NAV) 6.78 2.30 2.97 3.44 5.50
Fund with Sales Charge (%) (POP) 6.78 2.30 2.97 3.44 5.50
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.78 2.30 2.97 3.44 5.50
Fund with Sales Charge (%) (POP) 6.78 2.30 2.97 3.44 5.50
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 6.78 2.30 2.97 3.42
Fund without Sales Charge (%) (NAV) After Shares Sold 5.58 2.64 3.18 3.59
Fund with Sales Charge (%) (POP) Before Shares Sold 6.78 2.30 2.97 3.42
Fund with Sales Charge (%) (POP) After Shares Sold 5.58 2.64 3.18 3.59
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.78 2.30 2.97 3.42
Fund without Sales Charge (%) (NAV) After Shares Sold 5.58 2.64 3.18 3.59
Fund with Sales Charge (%) (POP) Before Shares Sold 6.78 2.30 2.97 3.42
Fund with Sales Charge (%) (POP) After Shares Sold 5.58 2.64 3.18 3.59

Calendar Year Returns

2018 2017 2016
Fund without Sales Charge (%) (NAV) 1.79 1.92 1.52
Fund with Sales Charge (%) (POP) 1.79 1.92 1.52
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25

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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.44 5.77 6.78 7.07 15.76 40.18 457.88
Fund with Sales Charge (%) (POP) 1.44 5.77 6.78 7.07 15.76 40.18 457.88
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.44 5.77 6.78 7.07 15.76 40.18 457.88
Fund with Sales Charge (%) (POP) 1.44 5.77 6.78 7.07 15.76 40.18 457.88
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.39
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.38
Information Ratio -0.84
Tracking Error 1.37

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

3 YR 5 YR 10 YR
Beta Bull 0.59
Beta Bear 0.57
Bull Bear Capture Ratio 0.95
% of Positive Months 63.89
Gains/Losses 2.09
Maximum Drawdown
1.33

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

Gross Expense Ratio 0.60%
Net Expense Ratio [further-information] 0.60%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.65
Sharpe Ratio 0.38
Standard Deviation 2.39

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index