Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 2.33 2.93 2.67 2.61 3.96
Fund with Sales Charge (%) (POP) 1.33 2.93 2.67 2.61 3.96
Bloomberg Barclays Municipal Bond Index (%) 5.36 4.52 4.13 4.26 5.23
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1995
Fund without Sales Charge (%) (NAV) 1.12 2.49 2.30 2.53 3.90
Fund with Sales Charge (%) (POP) 0.13 2.49 2.30 2.53 3.90
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 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.33 2.93 2.67 2.61
Fund without Sales Charge (%) (NAV) After Shares Sold 2.25 2.86 2.71 2.73
Fund with Sales Charge (%) (POP) Before Shares Sold 1.33 2.93 2.67 2.61
Fund with Sales Charge (%) (POP) After Shares Sold 1.66 2.86 2.71 2.73
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.12 2.49 2.30 2.53
Fund without Sales Charge (%) (NAV) After Shares Sold 1.55 2.53 2.44 2.68
Fund with Sales Charge (%) (POP) Before Shares Sold 0.13 2.49 2.30 2.53
Fund with Sales Charge (%) (POP) After Shares Sold 0.96 2.53 2.44 2.68

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 5.98 0.95 2.11 1.02 0.76 8.32 -5.96 5.58 10.17 0.86
Fund with Sales Charge (%) (POP) 4.98 -0.03 1.12 0.04 -0.21 7.32 -6.88 4.58 9.17 -0.11
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 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1995
Fund without Sales Charge (%) (NAV) 5.63 1.23 2.33 9.05 14.06 29.43 166.62
Fund with Sales Charge (%) (POP) 4.63 0.23 1.33 9.05 14.06 29.43 166.62
Bloomberg Barclays Municipal Bond Index (%) 5.78 3.80 5.36 14.18 22.42 51.77 261.86
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) 0.99 -0.51 1.12 7.65 12.03 28.43 162.03
Fund with Sales Charge (%) (POP) -0.01 -1.49 0.13 7.65 12.03 28.43 162.03
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 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.23 3.64 4.07
Standard Deviation (--) 3.94 3.80 3.82
Sharpe Ratio 0.31 0.43 0.50
Information Ratio -1.42 -1.11 -1.24
Tracking Error 1.12 1.31 1.32

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.93 0.87 0.98
Beta Bear 1.30 0.98 0.99
Bull Bear Capture Ratio 0.76 0.81 0.73
Gains/Losses 1.81 1.89 1.67

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

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.31
Standard Deviation 4.23

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index