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 10/03/1988
Fund without Sales Charge (%) (NAV) 8.47 4.07 3.11 3.77 5.22
Fund with Sales Charge (%) (POP) 8.47 4.07 3.11 3.77 5.22
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.90
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 6.39 3.57 2.61 3.64 5.15
Fund with Sales Charge (%) (POP) 6.39 3.57 2.61 3.64 5.15
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.83

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 8.47 4.07 3.12 3.77
Fund without Sales Charge (%) (NAV) After Shares Sold 6.32 3.86 3.17 3.76
Fund with Sales Charge (%) (POP) Before Shares Sold 8.47 4.07 3.12 3.77
Fund with Sales Charge (%) (POP) After Shares Sold 6.32 3.86 3.17 3.76
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.39 3.57 2.61 3.64
Fund without Sales Charge (%) (NAV) After Shares Sold 5.13 3.50 2.79 3.67
Fund with Sales Charge (%) (POP) Before Shares Sold 6.39 3.57 2.61 3.64
Fund with Sales Charge (%) (POP) After Shares Sold 5.13 3.50 2.79 3.67

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.39 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17
Fund with Sales Charge (%) (POP) 6.39 1.30 3.06 1.24 1.16 10.53 -5.78 6.38 11.02 2.17
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 10/03/1988
Fund without Sales Charge (%) (NAV) 3.16 2.90 8.47 12.71 16.57 44.85 394.55
Fund with Sales Charge (%) (POP) 3.16 2.90 8.47 12.71 16.57 44.85 394.55
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 505.17
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 0.36 6.39 6.39 11.08 13.77 42.98 380.63
Fund with Sales Charge (%) (POP) 0.36 6.39 6.39 11.08 13.77 42.98 380.63
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 486.92

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 02/29/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.29 2.62 3.80
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.04 0.77 0.84
Information Ratio -1.48 -0.82 -0.60
Tracking Error 0.84 1.09 1.22

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

3 YR 5 YR 10 YR
Beta Bull 0.80 0.75 1.00
Beta Bear 0.69 0.79 1.08
Bull Bear Capture Ratio 0.87 0.92 0.84
% of Positive Months 69.44 70.00 69.17
Gains/Losses 3.36 2.45 2.14
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.04
Standard Deviation 2.29

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index