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 04/03/1985
Fund without Sales Charge (%) (NAV) 8.86 4.85 3.72 4.21 5.84
Fund with Sales Charge (%) (POP) 8.86 4.85 3.72 4.21 5.84
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 6.54
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 6.82 4.10 3.36 4.00 5.78
Fund with Sales Charge (%) (POP) 6.82 4.10 3.36 4.00 5.78
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48

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 8.86 4.85 3.72 4.22
Fund without Sales Charge (%) (NAV) After Shares Sold 6.52 4.44 3.60 4.09
Fund with Sales Charge (%) (POP) Before Shares Sold 8.86 4.85 3.72 4.22
Fund with Sales Charge (%) (POP) After Shares Sold 6.52 4.44 3.60 4.09
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.82 4.10 3.36 4.00
Fund without Sales Charge (%) (NAV) After Shares Sold 5.33 3.88 3.34 3.93
Fund with Sales Charge (%) (POP) Before Shares Sold 6.82 4.10 3.36 4.00
Fund with Sales Charge (%) (POP) After Shares Sold 5.33 3.88 3.34 3.93

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.82 0.83 4.74 1.03 3.49 10.26 -4.25 7.55 10.79 -0.28
Fund with Sales Charge (%) (POP) 6.82 0.83 4.74 1.03 3.49 10.26 -4.25 7.55 10.79 -0.28
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

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 04/03/1985
Fund without Sales Charge (%) (NAV) 3.20 2.94 8.86 15.26 20.06 51.11 625.73
Fund with Sales Charge (%) (POP) 3.20 2.94 8.86 15.26 20.06 51.11 625.73
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 812.79
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.49 6.82 6.82 12.82 17.97 47.99 604.98
Fund with Sales Charge (%) (POP) 0.49 6.82 6.82 12.82 17.97 47.99 604.98
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 785.26

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.50 2.68 3.79
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.27 0.99 0.96
Information Ratio -1.21 -0.47 -0.31
Tracking Error 0.38 0.60 0.91

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

3 YR 5 YR 10 YR
Beta Bull 0.96 0.96 1.12
Beta Bear 0.82 0.75 0.99
Bull Bear Capture Ratio 0.95 1.03 0.91
% of Positive Months 75.00 73.33 70.83
Gains/Losses 3.76 2.82 2.35
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.27
Standard Deviation 2.50

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index