Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 5.15 3.95 3.75 4.04 5.79
Fund with Sales Charge (%) (POP) 5.15 3.95 3.75 4.04 5.79
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 6.44
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 5.04 4.04 3.21 4.00 5.76
Fund with Sales Charge (%) (POP) 5.04 4.04 3.21 4.00 5.76
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 6.41

After-Tax Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.15 3.95 3.75 4.04
Fund without Sales Charge (%) (NAV) After Shares Sold 4.24 3.74 3.62 3.94
Fund with Sales Charge (%) (POP) Before Shares Sold 5.15 3.95 3.75 4.04
Fund with Sales Charge (%) (POP) After Shares Sold 4.24 3.74 3.62 3.94
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.03 4.04 3.21 4.00
Fund without Sales Charge (%) (NAV) After Shares Sold 4.23 3.83 3.21 3.93
Fund with Sales Charge (%) (POP) Before Shares Sold 5.03 4.04 3.21 4.00
Fund with Sales Charge (%) (POP) After Shares Sold 4.23 3.83 3.21 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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) -0.36 2.57 5.15 12.32 20.22 48.54 623.12
Fund with Sales Charge (%) (POP) -0.36 2.57 5.15 12.32 20.22 48.54 623.12
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 796.27
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.78 0.78 5.04 12.62 17.09 48.07 610.47
Fund with Sales Charge (%) (POP) 0.78 0.78 5.04 12.62 17.09 48.07 610.47
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 779.68

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.19 3.09 3.95
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.78 0.88 0.88
Information Ratio -0.07 -0.11 -0.15
Tracking Error 1.07 0.98 1.06

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

3 YR 5 YR 10 YR
Beta Bull 0.91 0.92 1.08
Beta Bear 0.51 0.63 0.83
Bull Bear Capture Ratio 1.10 1.11 0.96
Gains/Losses 2.55 2.55 2.19

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.56%
Net Expense Ratio [further-information] 0.56%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.78
Standard Deviation 3.19

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index