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) 1.80 2.36 2.21 2.91 3.97
Fund with Sales Charge (%) (POP) 0.81 2.36 2.21 2.91 3.97
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) 4.14 3.01 2.18 3.13 4.02
Fund with Sales Charge (%) (POP) 3.14 3.01 2.18 3.13 4.02
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 1.80 2.36 2.21 2.91
Fund without Sales Charge (%) (NAV) After Shares Sold 1.99 2.40 2.33 2.95
Fund with Sales Charge (%) (POP) Before Shares Sold 0.81 2.36 2.21 2.91
Fund with Sales Charge (%) (POP) After Shares Sold 1.40 2.40 2.33 2.95
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.14 3.01 2.18 3.13
Fund without Sales Charge (%) (NAV) After Shares Sold 3.46 2.90 2.31 3.13
Fund with Sales Charge (%) (POP) Before Shares Sold 3.14 3.01 2.18 3.13
Fund with Sales Charge (%) (POP) After Shares Sold 2.86 2.90 2.31 3.13

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.14 0.55 2.77 0.07 2.01 9.15 -5.88 6.48 11.44 0.56
Fund with Sales Charge (%) (POP) 5.14 -0.43 1.77 -0.90 1.02 8.15 -6.80 5.48 10.44 -0.41
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) -2.96 0.02 1.80 7.26 11.55 33.27 165.62
Fund with Sales Charge (%) (POP) -3.92 -0.97 0.81 7.26 11.55 33.27 165.62
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) 0.54 0.54 4.14 9.30 11.39 36.15 167.01
Fund with Sales Charge (%) (POP) -0.46 -0.46 3.14 9.30 11.39 36.15 167.01
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) 3.34 3.18 3.91
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.33 0.42 0.62
Information Ratio -1.16 -1.31 -1.09
Tracking Error 1.27 1.14 1.11

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.76 0.96
Beta Bear 0.64 0.73 0.91
Bull Bear Capture Ratio 0.81 0.81 0.80
Gains/Losses 1.86 1.86 1.81

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

Gross Expense Ratio 1.26%
Net Expense Ratio [further-information] 1.26%
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 0.33
Standard Deviation 3.34

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index