Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 05/01/1995
Fund without Sales Charge (%) (NAV) 7.27 2.12 2.23 2.89 4.02
Fund with Sales Charge (%) (POP) 6.27 2.12 2.23 2.89 4.02
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.21
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) 6.76 1.96 2.32 2.73 4.04
Fund with Sales Charge (%) (POP) 5.76 1.96 2.32 2.73 4.04
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 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.27 2.12 2.23 2.89
Fund without Sales Charge (%) (NAV) After Shares Sold 5.42 2.30 2.41 2.98
Fund with Sales Charge (%) (POP) Before Shares Sold 6.27 2.12 2.23 2.89
Fund with Sales Charge (%) (POP) After Shares Sold 4.82 2.30 2.41 2.98
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.76 1.96 2.32 2.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 2.17 2.49 2.85
Fund with Sales Charge (%) (POP) Before Shares Sold 5.76 1.96 2.32 2.73
Fund with Sales Charge (%) (POP) After Shares Sold 4.54 2.17 2.49 2.85

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.95 2.11 1.02 0.76 8.32 -5.96 5.58 10.17 0.86 14.55
Fund with Sales Charge (%) (POP) -0.03 1.12 0.04 -0.21 7.32 -6.88 4.58 9.17 -0.11 13.55
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 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 0.81 5.69 7.27 6.51 11.68 33.01 162.66
Fund with Sales Charge (%) (POP) -0.19 4.69 6.27 6.51 11.68 33.01 162.66
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 246.70
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) 1.44 5.77 6.76 5.99 12.17 30.94 162.86
Fund with Sales Charge (%) (POP) 0.44 4.77 5.76 5.99 12.17 30.94 162.86
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) 2.46 2.33 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.23 0.54 0.67
Information Ratio -1.15 -1.10 -1.17
Tracking Error 1.29 1.19 1.28

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

3 YR 5 YR 10 YR
Beta Bull 0.64 0.70 0.97
Beta Bear 0.64 0.63 0.89
Bull Bear Capture Ratio 0.87 0.86 0.75
% of Positive Months 66.67 65.00 65.83
Gains/Losses 1.91 2.05 1.89
Maximum Drawdown
1.18 3.28 8.83

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 0.23
Standard Deviation 2.46

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index