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) 6.09 1.58 2.29 2.81 4.00
Fund with Sales Charge (%) (POP) 5.09 1.58 2.29 2.81 4.00
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) 6.09 1.58 2.29 2.81 4.00
Fund with Sales Charge (%) (POP) 5.09 1.58 2.29 2.81 4.00
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 6.09 1.58 2.29 2.80
Fund without Sales Charge (%) (NAV) After Shares Sold 4.88 1.92 2.50 2.96
Fund with Sales Charge (%) (POP) Before Shares Sold 5.09 1.58 2.29 2.80
Fund with Sales Charge (%) (POP) After Shares Sold 4.28 1.92 2.50 2.96
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.09 1.58 2.29 2.80
Fund without Sales Charge (%) (NAV) After Shares Sold 4.88 1.92 2.50 2.96
Fund with Sales Charge (%) (POP) Before Shares Sold 5.09 1.58 2.29 2.80
Fund with Sales Charge (%) (POP) After Shares Sold 4.28 1.92 2.50 2.96

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.19 1.22 0.71 2.02 9.28 -6.79 6.06 9.53 1.47 12.55
Fund with Sales Charge (%) (POP) 0.21 0.24 -0.26 1.04 8.28 -7.69 5.06 8.53 0.49 11.55
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) 1.26 5.18 6.09 4.80 12.00 31.99 160.31
Fund with Sales Charge (%) (POP) 0.26 4.18 5.09 4.80 12.00 31.99 160.31
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) 1.26 5.18 6.09 4.80 12.00 31.99 160.31
Fund with Sales Charge (%) (POP) 0.26 4.18 5.09 4.80 12.00 31.99 160.31
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) 2.43 2.37 3.45
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.07 0.51 0.70
Information Ratio -1.39 -1.06 -1.12
Tracking Error 1.35 1.29 1.31

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

3 YR 5 YR 10 YR
Beta Bull 0.60 0.74 0.96
Beta Bear 0.62 0.61 0.88
Bull Bear Capture Ratio 0.78 0.85 0.77
% of Positive Months 63.89 66.67 69.17
Gains/Losses 1.69 2.02 1.95
Maximum Drawdown
1.65 3.49 9.67

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

Gross Expense Ratio 1.25%
Net Expense Ratio [further-information] 1.25%
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 0.07
Standard Deviation 2.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index