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 09/01/1987
Fund without Sales Charge (%) (NAV) 3.55 3.30 2.93 3.61 5.38
Fund with Sales Charge (%) (POP) 3.55 3.30 2.93 3.61 5.38
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.55 3.30 2.93 3.61 5.38
Fund with Sales Charge (%) (POP) 3.55 3.30 2.93 3.61 5.38
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89

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 3.55 3.30 2.93 3.61
Fund without Sales Charge (%) (NAV) After Shares Sold 3.30 3.29 3.03 3.63
Fund with Sales Charge (%) (POP) Before Shares Sold 3.55 3.30 2.93 3.61
Fund with Sales Charge (%) (POP) After Shares Sold 3.30 3.29 3.03 3.63
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.55 3.30 2.93 3.61
Fund without Sales Charge (%) (NAV) After Shares Sold 3.30 3.29 3.03 3.63
Fund with Sales Charge (%) (POP) Before Shares Sold 3.55 3.30 2.93 3.61
Fund with Sales Charge (%) (POP) After Shares Sold 3.30 3.29 3.03 3.63

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 6.36 0.67 2.58 1.24
Fund with Sales Charge (%) (POP) 6.36 0.67 2.58 1.24
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25

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 09/01/1987
Fund without Sales Charge (%) (NAV) 2.00 1.66 3.55 10.24 15.53 42.63 459.31
Fund with Sales Charge (%) (POP) 2.00 1.66 3.55 10.24 15.53 42.63 459.31
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.00 1.66 3.55 10.24 15.53 42.63 459.31
Fund with Sales Charge (%) (POP) 2.00 1.66 3.55 10.24 15.53 42.63 459.31
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.66 3.28 4.10
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.46 0.56 0.74
Information Ratio -1.47 -1.07 -0.55
Tracking Error 0.62 0.93 1.08

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

3 YR 5 YR 10 YR
Beta Bull 0.96 0.90 1.07
Beta Bear 0.91 0.81 0.99
Bull Bear Capture Ratio 0.89 0.91 0.88
Gains/Losses 2.04 2.08 1.99

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

Gross Expense Ratio 0.61%
Net Expense Ratio [further-information] 0.61%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.93
Sharpe Ratio 0.46
Standard Deviation 3.66

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index