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) 9.50 4.81 3.54 4.35 5.52
Fund with Sales Charge (%) (POP) 9.50 4.81 3.54 4.35 5.52
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) 7.10 3.99 3.02 4.11 5.44
Fund with Sales Charge (%) (POP) 7.10 3.99 3.02 4.11 5.44
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 9.50 4.81 3.54 4.35
Fund without Sales Charge (%) (NAV) After Shares Sold 6.92 4.46 3.51 4.25
Fund with Sales Charge (%) (POP) Before Shares Sold 9.50 4.81 3.54 4.35
Fund with Sales Charge (%) (POP) After Shares Sold 6.92 4.46 3.51 4.25
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.10 3.99 3.02 4.11
Fund without Sales Charge (%) (NAV) After Shares Sold 5.54 3.86 3.12 4.08
Fund with Sales Charge (%) (POP) Before Shares Sold 7.10 3.99 3.02 4.11
Fund with Sales Charge (%) (POP) After Shares Sold 5.54 3.86 3.12 4.08

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.10 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92
Fund with Sales Charge (%) (POP) 7.10 0.81 4.15 1.10 2.05 11.17 -4.88 8.92 10.89 0.92
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 09/01/1987
Fund without Sales Charge (%) (NAV) 3.64 3.38 9.50 15.12 19.00 53.06 473.33
Fund with Sales Charge (%) (POP) 3.64 3.38 9.50 15.12 19.00 53.06 473.33
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) 0.36 7.10 7.10 12.45 16.02 49.55 454.57
Fund with Sales Charge (%) (POP) 0.36 7.10 7.10 12.45 16.02 49.55 454.57
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) 2.44 2.67 3.86
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.28 0.92 0.98
Information Ratio -0.80 -0.54 -0.13
Tracking Error 0.64 0.87 1.12

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

3 YR 5 YR 10 YR
Beta Bull 0.98 0.93 1.13
Beta Bear 0.92 0.77 1.08
Bull Bear Capture Ratio 1.06 1.03 0.94
% of Positive Months 72.22 71.67 69.17
Gains/Losses 4.19 2.79 2.40
Maximum Drawdown
1.37 3.95 8.41

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.28
Standard Deviation 2.44

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index