Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 9.46 3.05 2.86 3.60 5.66
Fund with Sales Charge (%) (POP) 9.46 3.05 2.86 3.60 5.66
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 6.49
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 8.71 2.76 3.02 3.43 5.67
Fund with Sales Charge (%) (POP) 8.71 2.76 3.02 3.43 5.67
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.50

After-Tax Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.46 3.05 2.86 3.60
Fund without Sales Charge (%) (NAV) After Shares Sold 6.89 3.08 2.97 3.63
Fund with Sales Charge (%) (POP) Before Shares Sold 9.46 3.05 2.86 3.60
Fund with Sales Charge (%) (POP) After Shares Sold 6.89 3.08 2.97 3.63
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.71 2.76 3.01 3.42
Fund without Sales Charge (%) (NAV) After Shares Sold 6.44 2.85 3.09 3.49
Fund with Sales Charge (%) (POP) Before Shares Sold 8.71 2.76 3.01 3.42
Fund with Sales Charge (%) (POP) After Shares Sold 6.44 2.85 3.09 3.49

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42 10.86
Fund with Sales Charge (%) (POP) 1.02 3.40 1.26 1.00 11.02 -5.04 6.19 10.04 0.42 10.86
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.12 6.96 9.46 9.45 15.15 42.41 570.12
Fund with Sales Charge (%) (POP) 1.12 6.96 9.46 9.45 15.15 42.41 570.12
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 780.36
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.74 6.89 8.71 8.51 16.01 40.05 569.71
Fund with Sales Charge (%) (POP) 1.74 6.89 8.71 8.51 16.01 40.05 569.71
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 778.79

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.78 2.60 3.34
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.54 0.72 0.92
Information Ratio -0.53 -0.60 -0.66
Tracking Error 1.04 1.14 1.21

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.86 0.82 0.90
Beta Bear 0.67 0.68 0.91
Bull Bear Capture Ratio 1.02 0.97 0.91
% of Positive Months 69.44 70.00 69.17
Gains/Losses 2.27 2.25 2.27
Maximum Drawdown
1.39 3.79 7.67

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 0.58%
Net Expense Ratio [further-information] 0.58%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.54
Standard Deviation 2.78

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index