Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 5.98 2.58 1.92 2.61 3.75
Fund with Sales Charge (%) (POP) 4.98 2.58 1.92 2.61 3.75
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.29
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 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.98 2.57 1.91 2.61
Fund without Sales Charge (%) (NAV) After Shares Sold 4.63 2.59 2.10 2.71
Fund with Sales Charge (%) (POP) Before Shares Sold 4.98 2.57 1.91 2.61
Fund with Sales Charge (%) (POP) After Shares Sold 4.04 2.59 2.10 2.71
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.53 2.08 1.46 2.49
Fund without Sales Charge (%) (NAV) After Shares Sold 3.80 2.23 1.76 2.62
Fund with Sales Charge (%) (POP) Before Shares Sold 3.53 2.08 1.46 2.49
Fund with Sales Charge (%) (POP) After Shares Sold 3.21 2.23 1.76 2.62

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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 2.42 2.23 5.98 7.93 9.95 29.37 149.28
Fund with Sales Charge (%) (POP) 1.42 1.23 4.98 7.93 9.95 29.37 149.28
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 259.47
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 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.76 2.20 3.57
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 0.51 0.38 0.57
Information Ratio -2.33 -1.60 -1.47
Tracking Error 1.18 1.31 1.28

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.61 0.62 0.97
Beta Bear 0.53 0.66 0.98
Bull Bear Capture Ratio 0.73 0.74 0.70
% of Positive Months 69.44 70.00 66.67
Gains/Losses 2.79 1.96 1.80
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.51
Standard Deviation 1.76

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index