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) 1.57 1.83 1.62 2.18 3.62
Fund with Sales Charge (%) (POP) 0.57 1.83 1.62 2.18 3.62
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) 2.33 1.77 1.37 2.30 3.62
Fund with Sales Charge (%) (POP) 1.33 1.77 1.37 2.30 3.62
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 1.57 1.83 1.62 2.18
Fund without Sales Charge (%) (NAV) After Shares Sold 1.89 2.01 1.88 2.36
Fund with Sales Charge (%) (POP) Before Shares Sold 0.57 1.83 1.62 2.18
Fund with Sales Charge (%) (POP) After Shares Sold 1.31 2.01 1.88 2.36
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.33 1.77 1.37 2.30
Fund without Sales Charge (%) (NAV) After Shares Sold 2.46 1.98 1.69 2.47
Fund with Sales Charge (%) (POP) Before Shares Sold 1.33 1.77 1.37 2.30
Fund with Sales Charge (%) (POP) After Shares Sold 1.87 1.98 1.69 2.47

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 4.53 0.41 1.35 0.56 0.51 8.94 -6.59 5.65 9.76 0.75
Fund with Sales Charge (%) (POP) 3.53 -0.57 0.36 -0.42 -0.46 7.94 -7.50 4.65 8.76 -0.22
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) -2.11 0.07 1.57 5.58 8.37 24.02 144.01
Fund with Sales Charge (%) (POP) -3.09 -0.92 0.57 5.58 8.37 24.02 144.01
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) -0.50 -0.50 2.33 5.39 7.03 25.48 142.63
Fund with Sales Charge (%) (POP) -1.49 -1.49 1.33 5.39 7.03 25.48 142.63
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) 2.90 2.78 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.23 0.32 0.46
Information Ratio -1.52 -1.35 -1.41
Tracking Error 1.26 1.43 1.35

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

3 YR 5 YR 10 YR
Beta Bull 0.71 0.66 0.92
Beta Bear 0.73 0.71 0.87
Bull Bear Capture Ratio 0.80 0.79 0.72
Gains/Losses 1.87 1.79 1.63

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 1.33%
Net Expense Ratio [further-information] 1.33%
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 2.90

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index