Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.14 1.78 1.81 2.58 3.87
Fund with Sales Charge (%) (POP) 0.16 1.78 1.81 2.58 3.87
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.16
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.80 2.15 1.69 2.74 3.90
Fund with Sales Charge (%) (POP) 1.80 2.15 1.69 2.74 3.90
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.11

After-Tax Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.14 1.78 1.81 2.56
Fund without Sales Charge (%) (NAV) After Shares Sold 1.80 2.06 2.11 2.76
Fund with Sales Charge (%) (POP) Before Shares Sold 0.16 1.78 1.81 2.56
Fund with Sales Charge (%) (POP) After Shares Sold 1.21 2.06 2.11 2.76
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.80 2.16 1.68 2.73
Fund without Sales Charge (%) (NAV) After Shares Sold 2.85 2.36 2.01 2.90
Fund with Sales Charge (%) (POP) Before Shares Sold 1.80 2.16 1.68 2.73
Fund with Sales Charge (%) (POP) After Shares Sold 2.26 2.36 2.01 2.90

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.21 1.19 1.22 0.71 2.02 9.28 -6.79 6.06 9.53 1.47
Fund with Sales Charge (%) (POP) 4.21 0.21 0.24 -0.26 1.04 8.28 -7.69 5.06 8.53 0.49
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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -2.58 -0.37 1.14 5.42 9.39 28.96 159.44
Fund with Sales Charge (%) (POP) -3.55 -1.35 0.16 5.42 9.39 28.96 159.44
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 252.96
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) -0.35 -0.35 2.80 6.60 8.71 31.04 159.47
Fund with Sales Charge (%) (POP) -1.34 -1.34 1.80 6.60 8.71 31.04 159.47
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 246.43

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.99 2.81 3.69
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.23 0.37 0.57
Information Ratio -1.38 -1.23 -1.08
Tracking Error 1.38 1.44 1.41

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.68 0.65 0.89
Beta Bear 0.68 0.66 0.80
Bull Bear Capture Ratio 0.79 0.81 0.78
Gains/Losses 1.81 1.83 1.77

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.23
Standard Deviation 2.99

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index