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 04/03/1985
Fund without Sales Charge (%) (NAV) 8.09 3.03 3.65 3.89 5.81
Fund with Sales Charge (%) (POP) 8.09 3.03 3.65 3.89 5.81
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 8.09 3.03 3.65 3.89 5.81
Fund with Sales Charge (%) (POP) 8.09 3.03 3.65 3.89 5.81
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.50

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 8.09 3.03 3.65 3.89
Fund without Sales Charge (%) (NAV) After Shares Sold 6.11 3.05 3.57 3.84
Fund with Sales Charge (%) (POP) Before Shares Sold 8.09 3.03 3.65 3.89
Fund with Sales Charge (%) (POP) After Shares Sold 6.11 3.05 3.57 3.84
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.09 3.03 3.65 3.89
Fund without Sales Charge (%) (NAV) After Shares Sold 6.11 3.05 3.57 3.84
Fund with Sales Charge (%) (POP) Before Shares Sold 8.09 3.03 3.65 3.89
Fund with Sales Charge (%) (POP) After Shares Sold 6.11 3.05 3.57 3.84

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.83 4.74 1.03 3.49 10.26 -4.25 7.55 10.79 -0.28 10.43
Fund with Sales Charge (%) (POP) 0.83 4.74 1.03 3.49 10.26 -4.25 7.55 10.79 -0.28 10.43
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

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 04/03/1985
Fund without Sales Charge (%) (NAV) 1.62 6.29 8.09 9.37 19.61 46.47 601.51
Fund with Sales Charge (%) (POP) 1.62 6.29 8.09 9.37 19.61 46.47 601.51
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.62 6.29 8.09 9.37 19.61 46.47 601.51
Fund with Sales Charge (%) (POP) 1.62 6.29 8.09 9.37 19.61 46.47 601.51
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 778.79

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.00 2.79 3.75
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.57 0.91 0.95
Information Ratio -0.52 -0.04 -0.34
Tracking Error 0.67 0.66 0.93

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

3 YR 5 YR 10 YR
Beta Bull 0.94 1.01 1.13
Beta Bear 0.74 0.76 0.99
Bull Bear Capture Ratio 1.00 1.06 0.90
% of Positive Months 72.22 71.67 70.83
Gains/Losses 2.21 2.57 2.31
Maximum Drawdown
1.56 3.96 8.66

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

Gross Expense Ratio 0.55%
Net Expense Ratio [further-information] 0.55%
Max Initial Sales Charge 0.00%
CDSC

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

Sharpe Ratio 0.57
Standard Deviation 3.00

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index