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) 6.66 1.61 2.22 2.78 3.95
Fund with Sales Charge (%) (POP) 5.66 1.61 2.22 2.78 3.95
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) 6.66 1.61 2.22 2.78 3.95
Fund with Sales Charge (%) (POP) 5.66 1.61 2.22 2.78 3.95
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 6.66 1.62 2.22 2.78
Fund without Sales Charge (%) (NAV) After Shares Sold 5.03 1.83 2.34 2.83
Fund with Sales Charge (%) (POP) Before Shares Sold 5.66 1.62 2.22 2.78
Fund with Sales Charge (%) (POP) After Shares Sold 4.44 1.83 2.34 2.83
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.66 1.62 2.22 2.78
Fund without Sales Charge (%) (NAV) After Shares Sold 5.03 1.83 2.34 2.83
Fund with Sales Charge (%) (POP) Before Shares Sold 5.66 1.62 2.22 2.78
Fund with Sales Charge (%) (POP) After Shares Sold 4.44 1.83 2.34 2.83

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.62 2.34 0.57 0.57 9.75 -6.38 5.68 10.24 1.57 19.02
Fund with Sales Charge (%) (POP) -0.36 1.34 -0.41 -0.40 8.75 -7.30 4.68 9.24 0.59 18.02
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) 1.25 5.60 6.66 4.92 11.63 31.50 157.64
Fund with Sales Charge (%) (POP) 0.25 4.60 5.66 4.92 11.63 31.50 157.64
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) 1.25 5.60 6.66 4.92 11.63 31.50 157.64
Fund with Sales Charge (%) (POP) 0.25 4.60 5.66 4.92 11.63 31.50 157.64
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) 2.81 2.61 3.75
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.09 0.44 0.64
Information Ratio -1.66 -1.23 -1.14
Tracking Error 1.08 1.16 1.28

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

3 YR 5 YR 10 YR
Beta Bull 0.66 0.67 0.99
Beta Bear 0.81 0.79 1.07
Bull Bear Capture Ratio 0.75 0.78 0.74
% of Positive Months 66.67 68.33 66.67
Gains/Losses 1.65 1.85 1.84
Maximum Drawdown
1.42 4.01 9.68

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (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 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.09
Standard Deviation 2.81

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index