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) 3.15 2.65 2.22 2.49 3.87
Fund with Sales Charge (%) (POP) 2.15 2.65 2.22 2.49 3.87
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) 3.15 2.65 2.22 2.49 3.87
Fund with Sales Charge (%) (POP) 2.15 2.65 2.22 2.49 3.87
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 3.14 2.65 2.22 2.49
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.57 2.28 2.58
Fund with Sales Charge (%) (POP) Before Shares Sold 2.14 2.65 2.22 2.49
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.57 2.28 2.58
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.14 2.65 2.22 2.49
Fund without Sales Charge (%) (NAV) After Shares Sold 2.69 2.57 2.28 2.58
Fund with Sales Charge (%) (POP) Before Shares Sold 2.14 2.65 2.22 2.49
Fund with Sales Charge (%) (POP) After Shares Sold 2.10 2.57 2.28 2.58

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.32 0.69 1.05 0.57 1.06 8.06 -7.26 6.37 10.63 0.36
Fund with Sales Charge (%) (POP) 4.32 -0.30 0.07 -0.40 0.08 7.06 -8.16 5.37 9.63 -0.61
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) 1.93 1.90 3.15 8.16 11.58 27.93 159.73
Fund with Sales Charge (%) (POP) 0.93 0.90 2.15 8.16 11.58 27.93 159.73
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) 1.93 1.90 3.15 8.16 11.58 27.93 159.73
Fund with Sales Charge (%) (POP) 0.93 0.90 2.15 8.16 11.58 27.93 159.73
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) 3.20 2.93 3.76
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.32 0.38 0.51
Information Ratio -1.45 -1.32 -1.32
Tracking Error 1.08 1.30 1.30

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

3 YR 5 YR 10 YR
Beta Bull 0.90 0.81 0.97
Beta Bear 0.66 0.67 0.84
Bull Bear Capture Ratio 0.84 0.82 0.75
% of Positive Months 66.67 70.00 66.67
Gains/Losses 1.91 1.86 1.69
Maximum Drawdown
3.90 3.90 9.30

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

Gross Expense Ratio 1.22%
Net Expense Ratio [further-information] 1.22%
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 0.32
Standard Deviation 3.20

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index