Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/03/1988
Fund without Sales Charge (%) (NAV) 7.38 2.29 2.90 3.45 5.18
Fund with Sales Charge (%) (POP) 7.38 2.29 2.90 3.45 5.18
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/03/1988
Fund without Sales Charge (%) (NAV) 7.38 2.29 2.90 3.45 5.18
Fund with Sales Charge (%) (POP) 7.38 2.29 2.90 3.45 5.18
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.85

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.38 2.28 2.90 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 5.75 2.51 3.03 3.51
Fund with Sales Charge (%) (POP) Before Shares Sold 7.38 2.28 2.90 3.45
Fund with Sales Charge (%) (POP) After Shares Sold 5.75 2.51 3.03 3.51
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.38 2.28 2.90 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 5.75 2.51 3.03 3.51
Fund with Sales Charge (%) (POP) Before Shares Sold 7.38 2.28 2.90 3.45
Fund with Sales Charge (%) (POP) After Shares Sold 5.75 2.51 3.03 3.51

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17 19.78
Fund with Sales Charge (%) (POP) 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17 19.78
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 09/30/2019

Month EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.44 6.02 7.38 7.01 15.39 40.33 378.93
Fund with Sales Charge (%) (POP) 1.44 6.02 7.38 7.01 15.39 40.33 378.93
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.44 6.02 7.38 7.01 15.39 40.33 378.93
Fund with Sales Charge (%) (POP) 1.44 6.02 7.38 7.01 15.39 40.33 378.93
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 482.63

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.89 2.65 3.78
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.32 0.68 0.82
Information Ratio -1.12 -0.69 -0.62
Tracking Error 1.02 1.11 1.25

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

3 YR 5 YR 10 YR
Beta Bull 0.69 0.70 1.00
Beta Bear 0.81 0.80 1.08
Bull Bear Capture Ratio 0.87 0.92 0.83
% of Positive Months 66.67 68.33 68.33
Gains/Losses 1.90 2.18 2.09
Maximum Drawdown
1.39 3.83 9.29

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

Gross Expense Ratio 0.63%
Net Expense Ratio [further-information] 0.63%
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 0.32
Standard Deviation 2.89

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index