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) 4.34 3.62 3.16 3.68 5.31
Fund with Sales Charge (%) (POP) 4.34 3.62 3.16 3.68 5.31
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) 4.34 3.62 3.16 3.68 5.31
Fund with Sales Charge (%) (POP) 4.34 3.62 3.16 3.68 5.31
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 4.34 3.62 3.16 3.68
Fund without Sales Charge (%) (NAV) After Shares Sold 3.78 3.51 3.19 3.68
Fund with Sales Charge (%) (POP) Before Shares Sold 4.34 3.62 3.16 3.68
Fund with Sales Charge (%) (POP) After Shares Sold 3.78 3.51 3.19 3.68
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.34 3.62 3.16 3.68
Fund without Sales Charge (%) (NAV) After Shares Sold 3.78 3.51 3.19 3.68
Fund with Sales Charge (%) (POP) Before Shares Sold 4.34 3.62 3.16 3.68
Fund with Sales Charge (%) (POP) After Shares Sold 3.78 3.51 3.19 3.68

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 6.54 0.65 3.17 1.82
Fund with Sales Charge (%) (POP) 6.54 0.65 3.17 1.82
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) 1.70 2.25 4.34 11.27 16.84 43.58 446.03
Fund with Sales Charge (%) (POP) 1.70 2.25 4.34 11.27 16.84 43.58 446.03
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) 1.70 2.25 4.34 11.27 16.84 43.58 446.03
Fund with Sales Charge (%) (POP) 1.70 2.25 4.34 11.27 16.84 43.58 446.03
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) 2.98 2.78 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.67 0.74 0.82
Information Ratio -0.53 -0.58 -0.39
Tracking Error 1.12 1.33 1.35

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

3 YR 5 YR 10 YR
Beta Bull 0.83 0.76 0.95
Beta Bear 0.52 0.57 0.79
Bull Bear Capture Ratio 1.04 1.03 0.93
% of Positive Months 72.22 73.33 70.00
Gains/Losses 2.42 2.36 2.10
Maximum Drawdown
3.12 3.34 7.95

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.75
Sharpe Ratio 0.67
Standard Deviation 2.98

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index