Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.67 3.55 3.15 3.55 5.43
Fund with Sales Charge (%) (POP) 3.67 3.55 3.15 3.55 5.43
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.67 3.55 3.15 3.55 5.43
Fund with Sales Charge (%) (POP) 3.67 3.55 3.15 3.55 5.43

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.67 3.56 3.15 3.55
Fund without Sales Charge (%) (NAV) After Shares Sold 3.32 3.44 3.18 3.58
Fund with Sales Charge (%) (POP) Before Shares Sold 3.67 3.56 3.15 3.55
Fund with Sales Charge (%) (POP) After Shares Sold 3.32 3.44 3.18 3.58
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.67 3.56 3.15 3.55
Fund without Sales Charge (%) (NAV) After Shares Sold 3.32 3.44 3.18 3.58
Fund with Sales Charge (%) (POP) Before Shares Sold 3.67 3.56 3.15 3.55
Fund with Sales Charge (%) (POP) After Shares Sold 3.32 3.44 3.18 3.58

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.75 1.55 2.25 1.37 2.56 9.19 -5.74 6.93 11.75 1.15
Fund with Sales Charge (%) (POP) 6.75 1.55 2.25 1.37 2.56 9.19 -5.74 6.93 11.75 1.15
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 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.87 1.87 3.67 11.05 16.77 41.75 467.28
Fund with Sales Charge (%) (POP) 1.87 1.87 3.67 11.05 16.77 41.75 467.28
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.87 1.87 3.67 11.05 16.77 41.75 467.28
Fund with Sales Charge (%) (POP) 1.87 1.87 3.67 11.05 16.77 41.75 467.28

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.53 3.11 3.94
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Sharpe Ratio 0.54 0.66 0.74
Information Ratio -0.69 -0.63 -0.55
Tracking Error 0.95 1.24 1.32

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

3 YR 5 YR 10 YR
Beta Bull 0.91 0.83 1.02
Beta Bear 0.79 0.70 0.85
Bull Bear Capture Ratio 0.95 0.98 0.88
Gains/Losses 2.13 2.22 1.97

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

Gross Expense Ratio 0.56%
Net Expense Ratio [further-information] 0.56%
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 0.54
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