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 10/03/1988
Fund without Sales Charge (%) (NAV) 1.76 2.75 2.61 3.21 5.07
Fund with Sales Charge (%) (POP) 1.76 2.75 2.61 3.21 5.07
Bloomberg Barclays Municipal Bond Index (%) 3.98 3.81 3.74 4.14 5.79
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 3.49 3.04 2.46 3.41 5.10
Fund with Sales Charge (%) (POP) 3.49 3.04 2.46 3.41 5.10
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.76

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 1.76 2.75 2.61 3.21
Fund without Sales Charge (%) (NAV) After Shares Sold 2.22 2.85 2.78 3.31
Fund with Sales Charge (%) (POP) Before Shares Sold 1.76 2.75 2.61 3.21
Fund with Sales Charge (%) (POP) After Shares Sold 2.22 2.85 2.78 3.31
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.49 3.04 2.46 3.42
Fund without Sales Charge (%) (NAV) After Shares Sold 3.35 3.09 2.67 3.48
Fund with Sales Charge (%) (POP) Before Shares Sold 3.49 3.04 2.46 3.42
Fund with Sales Charge (%) (POP) After Shares Sold 3.35 3.09 2.67 3.48

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 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -3.08 -0.27 1.76 8.47 13.73 37.15 379.34
Fund with Sales Charge (%) (POP) -3.08 -0.27 1.76 8.47 13.73 37.15 379.34
Bloomberg Barclays Municipal Bond Index (%) -1.81 1.24 3.98 11.87 20.17 49.98 494.22
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) -0.38 -0.38 3.49 9.40 12.92 39.91 378.82
Fund with Sales Charge (%) (POP) -0.38 -0.38 3.49 9.40 12.92 39.91 378.82
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 483.22

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.53 3.29 4.07
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.42 0.55 0.67
Information Ratio -1.19 -0.87 -0.73
Tracking Error 0.93 1.16 1.27

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

3 YR 5 YR 10 YR
Beta Bull 0.78 0.72 0.94
Beta Bear 0.87 0.86 1.00
Bull Bear Capture Ratio 0.85 0.89 0.83
Gains/Losses 1.95 2.02 1.86

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (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 06/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.42
Standard Deviation 3.53

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index