Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 8.36 3.96 3.12 3.94 5.38
Fund with Sales Charge (%) (POP) 8.36 3.96 3.12 3.94 5.38
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.98
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.54 3.42 2.66 3.73 5.32
Fund with Sales Charge (%) (POP) 6.54 3.42 2.66 3.73 5.32
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

After-Tax Average Annual Total Returns [further-information] As of 02/29/2020

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.36 3.96 3.12 3.93
Fund without Sales Charge (%) (NAV) After Shares Sold 6.26 3.78 3.16 3.89
Fund with Sales Charge (%) (POP) Before Shares Sold 8.36 3.96 3.12 3.93
Fund with Sales Charge (%) (POP) After Shares Sold 6.26 3.78 3.16 3.89
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.54 3.42 2.66 3.73
Fund without Sales Charge (%) (NAV) After Shares Sold 5.20 3.38 2.82 3.74
Fund with Sales Charge (%) (POP) Before Shares Sold 6.54 3.42 2.66 3.73
Fund with Sales Charge (%) (POP) After Shares Sold 5.20 3.38 2.82 3.74

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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.97 2.71 8.36 12.37 16.59 47.11 448.52
Fund with Sales Charge (%) (POP) 2.97 2.71 8.36 12.37 16.59 47.11 448.52
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 560.45
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.65 6.54 6.54 10.63 14.02 44.28 434.03
Fund with Sales Charge (%) (POP) 0.65 6.54 6.54 10.63 14.02 44.28 434.03
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.22
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.03
Information Ratio -1.89
Tracking Error 0.71

ADDITIONAL RISK STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.81
Beta Bear 0.62
Bull Bear Capture Ratio 0.86
% of Positive Months 72.22
Gains/Losses 3.39
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 02/29/2020 Updated Monthly, based on a 3-year period

Beta 0.82
Sharpe Ratio 1.03
Standard Deviation 2.22

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index