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) 3.07 2.89 2.49 2.88 4.00
Fund with Sales Charge (%) (POP) 2.07 2.89 2.49 2.88 4.00
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 3.07 2.89 2.49 2.88 4.00
Fund with Sales Charge (%) (POP) 2.07 2.89 2.49 2.88 4.00

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 3.07 2.89 2.49 2.88
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.77 2.52 2.90
Fund with Sales Charge (%) (POP) Before Shares Sold 2.07 2.89 2.49 2.88
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.77 2.52 2.90
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.07 2.89 2.49 2.88
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.77 2.52 2.90
Fund with Sales Charge (%) (POP) Before Shares Sold 2.07 2.89 2.49 2.88
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.77 2.52 2.90

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.01 0.97 1.56 0.78 1.79 8.50 -6.31 6.27 10.95 0.48
Fund with Sales Charge (%) (POP) 5.01 -0.02 0.57 -0.20 0.80 7.50 -7.21 5.27 9.95 -0.48
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) 1.69 1.53 3.07 8.92 13.09 32.82 168.16
Fund with Sales Charge (%) (POP) 0.69 0.53 2.07 8.92 13.09 32.82 168.16
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) 1.69 1.53 3.07 8.92 13.09 32.82 168.16
Fund with Sales Charge (%) (POP) 0.69 0.53 2.07 8.92 13.09 32.82 168.16

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.55 3.12 3.89
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.35 0.44 0.59
Information Ratio -1.34 -1.15 -1.04
Tracking Error 0.99 1.25 1.28

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.91 0.84 1.01
Beta Bear 0.78 0.69 0.84
Bull Bear Capture Ratio 0.83 0.84 0.79
Gains/Losses 1.86 1.90 1.78

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.35
Standard Deviation 3.55

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index