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) 7.46 1.99 2.36 3.05 4.01
Fund with Sales Charge (%) (POP) 6.46 1.99 2.36 3.05 4.01
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) 6.83 1.78 2.47 2.87 4.02
Fund with Sales Charge (%) (POP) 5.83 1.78 2.47 2.87 4.02
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 7.46 1.99 2.36 3.05
Fund without Sales Charge (%) (NAV) After Shares Sold 5.46 2.12 2.44 3.06
Fund with Sales Charge (%) (POP) Before Shares Sold 6.46 1.99 2.36 3.05
Fund with Sales Charge (%) (POP) After Shares Sold 4.87 2.12 2.44 3.06
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.83 1.78 2.48 2.87
Fund without Sales Charge (%) (NAV) After Shares Sold 5.09 1.96 2.54 2.91
Fund with Sales Charge (%) (POP) Before Shares Sold 5.83 1.78 2.48 2.87
Fund with Sales Charge (%) (POP) After Shares Sold 4.50 1.96 2.54 2.91

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.15 3.19 0.42 1.81 9.15 -6.79 6.28 10.47 0.61 13.68
Fund with Sales Charge (%) (POP) -0.82 2.19 -0.56 0.82 8.15 -7.69 5.28 9.47 -0.36 12.68
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) 0.88 5.42 7.46 6.09 12.34 35.10 161.78
Fund with Sales Charge (%) (POP) -0.12 4.42 6.46 6.09 12.34 35.10 161.78
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) 1.57 5.49 6.83 5.45 13.00 32.71 161.96
Fund with Sales Charge (%) (POP) 0.57 4.49 5.83 5.45 13.00 32.71 161.96
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) 2.95 2.73 3.73
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.15 0.50 0.68
Information Ratio -2.30 -1.76 -1.43
Tracking Error 0.70 0.68 0.94

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

3 YR 5 YR 10 YR
Beta Bull 0.88 0.95 1.09
Beta Bear 0.85 0.83 1.05
Bull Bear Capture Ratio 0.77 0.82 0.75
% of Positive Months 63.89 66.67 65.00
Gains/Losses 1.71 1.98 1.90
Maximum Drawdown
1.75 4.25 9.96

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

Gross Expense Ratio 1.20%
Net Expense Ratio [further-information] 1.20%
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 0.15
Standard Deviation 2.95

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index