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) 5.44 0.92 1.60 2.35 3.71
Fund with Sales Charge (%) (POP) 4.44 0.92 1.60 2.35 3.71
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) 5.44 0.92 1.60 2.35 3.71
Fund with Sales Charge (%) (POP) 4.44 0.92 1.60 2.35 3.71
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 5.44 0.92 1.60 2.35
Fund without Sales Charge (%) (NAV) After Shares Sold 4.37 1.33 1.88 2.52
Fund with Sales Charge (%) (POP) Before Shares Sold 4.44 0.92 1.60 2.35
Fund with Sales Charge (%) (POP) After Shares Sold 3.78 1.33 1.88 2.52
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.44 0.92 1.60 2.35
Fund without Sales Charge (%) (NAV) After Shares Sold 4.37 1.33 1.88 2.52
Fund with Sales Charge (%) (POP) Before Shares Sold 4.44 0.92 1.60 2.35
Fund with Sales Charge (%) (POP) After Shares Sold 3.78 1.33 1.88 2.52

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.41 1.35 0.56 0.51 8.94 -6.59 5.65 9.76 0.75 15.57
Fund with Sales Charge (%) (POP) -0.57 0.36 -0.42 -0.46 7.94 -7.50 4.65 8.76 -0.22 14.57
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) 0.93 4.25 5.44 2.79 8.25 26.21 143.18
Fund with Sales Charge (%) (POP) -0.07 3.25 4.44 2.79 8.25 26.21 143.18
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) 0.93 4.25 5.44 2.79 8.25 26.21 143.18
Fund with Sales Charge (%) (POP) -0.07 3.25 4.44 2.79 8.25 26.21 143.18
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) 2.28 2.27 3.55
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio -0.16 0.23 0.56
Information Ratio -1.71 -1.57 -1.44
Tracking Error 1.42 1.30 1.31

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

3 YR 5 YR 10 YR
Beta Bull 0.54 0.62 0.98
Beta Bear 0.69 0.67 0.98
Bull Bear Capture Ratio 0.68 0.70 0.70
% of Positive Months 66.67 68.33 65.83
Gains/Losses 1.52 1.68 1.77
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 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio -0.16
Standard Deviation 2.28

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index