Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.67 2.46 2.27 2.62 3.85
Fund with Sales Charge (%) (POP) 0.68 2.46 2.27 2.62 3.85
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.67 2.46 2.27 2.62 3.85
Fund with Sales Charge (%) (POP) 0.68 2.46 2.27 2.62 3.85
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.17

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.67 2.46 2.27 2.62
Fund without Sales Charge (%) (NAV) After Shares Sold 1.89 2.47 2.36 2.69
Fund with Sales Charge (%) (POP) Before Shares Sold 0.68 2.46 2.27 2.62
Fund with Sales Charge (%) (POP) After Shares Sold 1.30 2.47 2.36 2.69
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.67 2.46 2.27 2.62
Fund without Sales Charge (%) (NAV) After Shares Sold 1.89 2.47 2.36 2.69
Fund with Sales Charge (%) (POP) Before Shares Sold 0.68 2.46 2.27 2.62
Fund with Sales Charge (%) (POP) After Shares Sold 1.30 2.47 2.36 2.69

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.81 0.62 2.34 0.57 0.57 9.75 -6.38 5.68 10.24 1.57
Fund with Sales Charge (%) (POP) 4.81 -0.36 1.34 -0.41 -0.40 8.75 -7.30 4.68 9.24 0.59
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 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.82 0.21 1.67 7.57 11.88 29.47 158.70
Fund with Sales Charge (%) (POP) -0.18 -0.78 0.68 7.57 11.88 29.47 158.70
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.82 0.21 1.67 7.57 11.88 29.47 158.70
Fund with Sales Charge (%) (POP) -0.18 -0.78 0.68 7.57 11.88 29.47 158.70
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 255.87

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.43 3.21 4.03
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.24 0.36 0.50
Information Ratio -1.84 -1.39 -1.23
Tracking Error 0.95 1.20 1.30

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

3 YR 5 YR 10 YR
Beta Bull 0.75 0.68 0.92
Beta Bear 0.89 0.86 0.99
Bull Bear Capture Ratio 0.76 0.78 0.74
% of Positive Months 69.44 71.67 66.67
Gains/Losses 1.74 1.77 1.66
Maximum Drawdown
5.24 5.24 9.68

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

Gross Expense Ratio 1.28%
Net Expense Ratio [further-information] 1.28%
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 0.24
Standard Deviation 3.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index