Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.92 3.53 2.54 3.17 4.11
Fund with Sales Charge (%) (POP) 6.92 3.53 2.54 3.17 4.11
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.29
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 6.01 2.82 2.20 2.99 4.02
Fund with Sales Charge (%) (POP) 5.01 2.82 2.20 2.99 4.02
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 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.92 3.53 2.54 3.17
Fund without Sales Charge (%) (NAV) After Shares Sold 5.67 3.28 2.56 3.15
Fund with Sales Charge (%) (POP) Before Shares Sold 6.92 3.53 2.54 3.17
Fund with Sales Charge (%) (POP) After Shares Sold 5.08 3.28 2.56 3.15
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.01 2.82 2.20 2.99
Fund without Sales Charge (%) (NAV) After Shares Sold 4.59 2.76 2.32 3.02
Fund with Sales Charge (%) (POP) Before Shares Sold 5.01 2.82 2.20 2.99
Fund with Sales Charge (%) (POP) After Shares Sold 3.99 2.76 2.32 3.02

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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 2.96 2.86 7.92 10.97 13.35 36.69 171.66
Fund with Sales Charge (%) (POP) 1.96 1.86 6.92 10.97 13.35 36.69 171.66
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 259.47
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) 0.10 6.01 6.01 8.71 11.51 34.32 164.12
Fund with Sales Charge (%) (POP) -0.89 5.01 5.01 8.71 11.51 34.32 164.12
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 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.31 2.34 3.60
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.80 0.62 0.72
Information Ratio -1.92 -1.26 -1.07
Tracking Error 0.93 1.17 1.24

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.82 0.77 1.03
Beta Bear 0.63 0.58 0.88
Bull Bear Capture Ratio 0.77 0.85 0.78
% of Positive Months 66.67 70.00 66.67
Gains/Losses 2.82 2.26 1.98
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.80
Standard Deviation 2.31

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index