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) 5.04 4.04 3.28 3.54 5.64
Fund with Sales Charge (%) (POP) 5.04 4.04 3.28 3.54 5.64
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 5.06 3.83 2.85 3.52 5.62
Fund with Sales Charge (%) (POP) 5.06 3.83 2.85 3.52 5.62

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 5.05 4.04 3.28 3.54
Fund without Sales Charge (%) (NAV) After Shares Sold 4.12 3.81 3.27 3.55
Fund with Sales Charge (%) (POP) Before Shares Sold 5.05 4.04 3.28 3.54
Fund with Sales Charge (%) (POP) After Shares Sold 4.12 3.81 3.27 3.55
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 5.06 3.83 2.85 3.52
Fund without Sales Charge (%) (NAV) After Shares Sold 4.21 3.66 2.94 3.55
Fund with Sales Charge (%) (POP) Before Shares Sold 5.06 3.83 2.85 3.52
Fund with Sales Charge (%) (POP) After Shares Sold 4.21 3.66 2.94 3.55

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.36 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42
Fund with Sales Charge (%) (POP) 7.36 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42
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) -0.83 2.31 5.04 12.60 17.52 41.62 588.19
Fund with Sales Charge (%) (POP) -0.83 2.31 5.04 12.60 17.52 41.62 588.19
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) 0.59 0.59 5.06 11.92 15.08 41.37 576.58
Fund with Sales Charge (%) (POP) 0.59 0.59 5.06 11.92 15.08 41.37 576.58

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.41 3.14 3.62
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.76 0.75 0.83
Information Ratio 0.02 -0.38 -0.51
Tracking Error 0.83 1.19 1.24

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

3 YR 5 YR 10 YR
Beta Bull 0.99 0.90 0.92
Beta Bear 0.67 0.67 0.83
Bull Bear Capture Ratio 1.11 1.05 0.94
Gains/Losses 2.56 2.37 2.12

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

Gross Expense Ratio 0.57%
Net Expense Ratio [further-information] 0.57%
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 0.76
Standard Deviation 3.41

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index