Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.53 2.08 1.46 2.49 3.68
Fund with Sales Charge (%) (POP) 3.53 2.08 1.46 2.49 3.68
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 4.53 2.08 1.46 2.49 3.68
Fund with Sales Charge (%) (POP) 3.53 2.08 1.46 2.49 3.68
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.19

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

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 12/31/2019

Month EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.27 4.53 4.53 6.38 7.52 27.83 143.85
Fund with Sales Charge (%) (POP) -0.72 3.53 3.53 6.38 7.52 27.83 143.85
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.27 4.53 4.53 6.38 7.52 27.83 143.85
Fund with Sales Charge (%) (POP) -0.72 3.53 3.53 6.38 7.52 27.83 143.85
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 248.63

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.60 2.26 3.55
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 0.28 0.19 0.55
Information Ratio -2.28 -1.59 -1.45
Tracking Error 1.16 1.30 1.28

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.56 0.62 0.98
Beta Bear 0.53 0.67 0.98
Bull Bear Capture Ratio 0.70 0.70 0.70
% of Positive Months 69.44 68.33 66.67
Gains/Losses 2.45 1.65 1.76
Maximum Drawdown
1.21 3.83 9.47

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

Gross Expense Ratio 1.32%
Net Expense Ratio [further-information] 1.32%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.28
Standard Deviation 1.60

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index