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) 7.30 2.32 2.86 3.57 5.34
Fund with Sales Charge (%) (POP) 7.30 2.32 2.86 3.57 5.34
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) 7.30 2.32 2.86 3.57 5.34
Fund with Sales Charge (%) (POP) 7.30 2.32 2.86 3.57 5.34
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 7.31 2.32 2.86 3.56
Fund without Sales Charge (%) (NAV) After Shares Sold 5.68 2.53 2.99 3.61
Fund with Sales Charge (%) (POP) Before Shares Sold 7.31 2.32 2.86 3.56
Fund with Sales Charge (%) (POP) After Shares Sold 5.68 2.53 2.99 3.61
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.31 2.32 2.86 3.56
Fund without Sales Charge (%) (NAV) After Shares Sold 5.68 2.53 2.99 3.61
Fund with Sales Charge (%) (POP) Before Shares Sold 7.31 2.32 2.86 3.56
Fund with Sales Charge (%) (POP) After Shares Sold 5.68 2.53 2.99 3.61

Calendar Year Returns

2018 2017 2016
Fund without Sales Charge (%) (NAV) 0.65 3.17 1.82
Fund with Sales Charge (%) (POP) 0.65 3.17 1.82
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) 1.39 5.85 7.30 7.11 15.15 41.97 430.60
Fund with Sales Charge (%) (POP) 1.39 5.85 7.30 7.11 15.15 41.97 430.60
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) 1.39 5.85 7.30 7.11 15.15 41.97 430.60
Fund with Sales Charge (%) (POP) 1.39 5.85 7.30 7.11 15.15 41.97 430.60
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) 2.58
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.39
Information Ratio -0.93
Tracking Error 1.12

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

3 YR 5 YR 10 YR
Beta Bull 0.75
Beta Bear 0.60
Bull Bear Capture Ratio 0.92
% of Positive Months 69.44
Gains/Losses 2.05
Maximum Drawdown
1.37

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

Gross Expense Ratio 0.66%
Net Expense Ratio [further-information] 0.66%
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 0.72
Sharpe Ratio 0.39
Standard Deviation 2.58

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index