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 05/01/1995
Fund without Sales Charge (%) (NAV) 6.53 1.66 2.24 2.96 3.90
Fund with Sales Charge (%) (POP) 5.53 1.66 2.24 2.96 3.90
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) 6.53 1.66 2.24 2.96 3.90
Fund with Sales Charge (%) (POP) 5.53 1.66 2.24 2.96 3.90
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 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 6.53 1.66 2.24 2.96
Fund without Sales Charge (%) (NAV) After Shares Sold 4.93 1.86 2.36 3.00
Fund with Sales Charge (%) (POP) Before Shares Sold 5.53 1.66 2.24 2.96
Fund with Sales Charge (%) (POP) After Shares Sold 4.34 1.86 2.36 3.00
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.53 1.66 2.24 2.96
Fund without Sales Charge (%) (NAV) After Shares Sold 4.93 1.86 2.36 3.00
Fund with Sales Charge (%) (POP) Before Shares Sold 5.53 1.66 2.24 2.96
Fund with Sales Charge (%) (POP) After Shares Sold 4.34 1.86 2.36 3.00

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) -0.10 2.46 1.30 0.74 9.84 -5.34 6.92 11.68 -0.91 12.57
Fund with Sales Charge (%) (POP) -1.08 1.46 0.32 -0.24 8.84 -6.26 5.92 10.68 -1.87 11.57
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 09/30/2019

Month 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) 1.21 5.37 6.53 5.05 11.69 33.92 154.79
Fund with Sales Charge (%) (POP) 0.21 4.37 5.53 5.05 11.69 33.92 154.79
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) 1.21 5.37 6.53 5.05 11.69 33.92 154.79
Fund with Sales Charge (%) (POP) 0.21 4.37 5.53 5.05 11.69 33.92 154.79
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) 2.62 2.46 3.63
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.13 0.47 0.71
Information Ratio -1.56 -1.26 -1.00
Tracking Error 1.09 1.11 1.31

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

3 YR 5 YR 10 YR
Beta Bull 0.79 0.78 0.98
Beta Bear 0.59 0.62 0.95
Bull Bear Capture Ratio 0.77 0.81 0.77
% of Positive Months 69.44 71.67 71.67
Gains/Losses 1.71 1.91 1.94
Maximum Drawdown
1.98 3.45 8.83

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

Gross Expense Ratio 1.31%
Net Expense Ratio [further-information] 1.31%
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 0.13
Standard Deviation 2.62

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index