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) 6.26 1.45 1.90 2.48 3.91
Fund with Sales Charge (%) (POP) 5.26 1.45 1.90 2.48 3.91
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) 6.26 1.45 1.90 2.48 3.91
Fund with Sales Charge (%) (POP) 5.26 1.45 1.90 2.48 3.91
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 6.26 1.45 1.90 2.48
Fund without Sales Charge (%) (NAV) After Shares Sold 4.70 1.69 2.08 2.60
Fund with Sales Charge (%) (POP) Before Shares Sold 5.26 1.45 1.90 2.48
Fund with Sales Charge (%) (POP) After Shares Sold 4.11 1.69 2.08 2.60
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.26 1.45 1.90 2.48
Fund without Sales Charge (%) (NAV) After Shares Sold 4.70 1.69 2.08 2.60
Fund with Sales Charge (%) (POP) Before Shares Sold 5.26 1.45 1.90 2.48
Fund with Sales Charge (%) (POP) After Shares Sold 4.11 1.69 2.08 2.60

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.69 1.05 0.57 1.06 8.06 -7.26 6.37 10.63 0.36 16.38
Fund with Sales Charge (%) (POP) -0.30 0.07 -0.40 0.08 7.06 -8.16 5.37 9.63 -0.61 15.38
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) 1.22 5.31 6.26 4.40 9.86 27.79 154.88
Fund with Sales Charge (%) (POP) 0.22 4.31 5.26 4.40 9.86 27.79 154.88
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) 1.22 5.31 6.26 4.40 9.86 27.79 154.88
Fund with Sales Charge (%) (POP) 0.22 4.31 5.26 4.40 9.86 27.79 154.88
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) 2.54 2.30 3.51
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.00 0.37 0.60
Information Ratio -1.57 -1.41 -1.37
Tracking Error 1.30 1.22 1.28

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

3 YR 5 YR 10 YR
Beta Bull 0.63 0.66 0.97
Beta Bear 0.65 0.66 0.95
Bull Bear Capture Ratio 0.73 0.77 0.72
% of Positive Months 63.89 68.33 67.50
Gains/Losses 1.58 1.83 1.81
Maximum Drawdown
1.89 3.46 9.30

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
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 0.00
Standard Deviation 2.54

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index