Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.40 2.05 2.31 3.08 4.03
Fund with Sales Charge (%) (POP) 6.40 2.05 2.31 3.08 4.03
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.21
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) 6.86 1.93 2.41 2.91 4.05
Fund with Sales Charge (%) (POP) 5.86 1.93 2.41 2.91 4.05
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 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.40 2.05 2.31 3.08
Fund without Sales Charge (%) (NAV) After Shares Sold 5.44 2.17 2.41 3.09
Fund with Sales Charge (%) (POP) Before Shares Sold 6.40 2.05 2.31 3.08
Fund with Sales Charge (%) (POP) After Shares Sold 4.85 2.17 2.41 3.09
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.86 1.93 2.41 2.91
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 2.08 2.49 2.95
Fund with Sales Charge (%) (POP) Before Shares Sold 5.86 1.93 2.41 2.91
Fund with Sales Charge (%) (POP) After Shares Sold 4.54 2.08 2.49 2.95

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.97 1.56 0.78 1.79 8.50 -6.31 6.27 10.95 0.48 12.95
Fund with Sales Charge (%) (POP) -0.02 0.57 -0.20 0.80 7.50 -7.21 5.27 9.95 -0.48 11.95
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 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.79 5.73 7.40 6.27 12.09 35.46 163.42
Fund with Sales Charge (%) (POP) -0.21 4.73 6.40 6.27 12.09 35.46 163.42
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 246.70
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) 1.41 5.90 6.86 5.91 12.66 33.21 163.84
Fund with Sales Charge (%) (POP) 0.41 4.90 5.86 5.91 12.66 33.21 163.84
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) 2.59 2.41 3.57
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.19 0.55 0.72
Information Ratio -1.19 -1.04 -1.05
Tracking Error 1.31 1.19 1.25

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

3 YR 5 YR 10 YR
Beta Bull 0.71 0.80 1.02
Beta Bear 0.57 0.58 0.88
Bull Bear Capture Ratio 0.82 0.87 0.78
% of Positive Months 63.89 68.33 66.67
Gains/Losses 1.76 2.06 1.95
Maximum Drawdown
1.94 3.20 8.68

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

Gross Expense Ratio 1.24%
Net Expense Ratio [further-information] 1.24%
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 0.19
Standard Deviation 2.59

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index