Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.68 3.68 3.33 3.97 5.40
Fund with Sales Charge (%) (POP) 3.68 3.68 3.33 3.97 5.40
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.68 3.68 3.33 3.97 5.40
Fund with Sales Charge (%) (POP) 3.68 3.68 3.33 3.97 5.40
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.68 3.68 3.33 3.97
Fund without Sales Charge (%) (NAV) After Shares Sold 3.38 3.59 3.35 3.95
Fund with Sales Charge (%) (POP) Before Shares Sold 3.68 3.68 3.33 3.97
Fund with Sales Charge (%) (POP) After Shares Sold 3.38 3.59 3.35 3.95
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.68 3.68 3.33 3.97
Fund without Sales Charge (%) (NAV) After Shares Sold 3.38 3.59 3.35 3.95
Fund with Sales Charge (%) (POP) Before Shares Sold 3.68 3.68 3.33 3.97
Fund with Sales Charge (%) (POP) After Shares Sold 3.38 3.59 3.35 3.95

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 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.11 1.42 3.68 11.46 17.77 47.60 462.45
Fund with Sales Charge (%) (POP) 2.11 1.42 3.68 11.46 17.77 47.60 462.45
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.11 1.42 3.68 11.46 17.77 47.60 462.45
Fund with Sales Charge (%) (POP) 2.11 1.42 3.68 11.46 17.77 47.60 462.45
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.94 3.56 4.22
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.52 0.62 0.80
Information Ratio -0.95 -0.70 -0.21
Tracking Error 0.55 0.86 1.12

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

3 YR 5 YR 10 YR
Beta Bull 1.01 0.96 1.10
Beta Bear 1.12 0.96 1.07
Bull Bear Capture Ratio 0.93 0.96 0.93
% of Positive Months 72.22 73.33 68.33
Gains/Losses 2.14 2.18 2.09
Maximum Drawdown
5.48 5.48 8.41

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 0.52
Standard Deviation 3.94

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index