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 09/01/1987
Fund without Sales Charge (%) (NAV) 7.14 2.11 2.83 3.61 5.45
Fund with Sales Charge (%) (POP) 7.14 2.11 2.83 3.61 5.45
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.14 2.11 2.83 3.61 5.45
Fund with Sales Charge (%) (POP) 7.14 2.11 2.83 3.61 5.45
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 7.14 2.11 2.83 3.61
Fund without Sales Charge (%) (NAV) After Shares Sold 5.66 2.40 2.98 3.64
Fund with Sales Charge (%) (POP) Before Shares Sold 7.14 2.11 2.83 3.61
Fund with Sales Charge (%) (POP) After Shares Sold 5.66 2.40 2.98 3.64
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.14 2.11 2.83 3.61
Fund without Sales Charge (%) (NAV) After Shares Sold 5.66 2.40 2.98 3.64
Fund with Sales Charge (%) (POP) Before Shares Sold 7.14 2.11 2.83 3.61
Fund with Sales Charge (%) (POP) After Shares Sold 5.66 2.40 2.98 3.64

Calendar Year Returns

2018 2017 2016
Fund without Sales Charge (%) (NAV) 0.67 2.58 1.24
Fund with Sales Charge (%) (POP) 0.67 2.58 1.24
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25

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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.45 5.94 7.14 6.45 14.97 42.51 448.00
Fund with Sales Charge (%) (POP) 1.45 5.94 7.14 6.45 14.97 42.51 448.00
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.45 5.94 7.14 6.45 14.97 42.51 448.00
Fund with Sales Charge (%) (POP) 1.45 5.94 7.14 6.45 14.97 42.51 448.00
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.67
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.29
Information Ratio -1.26
Tracking Error 1.01

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

3 YR 5 YR 10 YR
Beta Bull 0.77
Beta Bear 0.69
Bull Bear Capture Ratio 0.87
% of Positive Months 69.44
Gains/Losses 1.93
Maximum Drawdown
1.34

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

Gross Expense Ratio 0.62%
Net Expense Ratio [further-information] 0.62%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.75
Sharpe Ratio 0.29
Standard Deviation 2.67

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index