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 09/01/1987
Fund without Sales Charge (%) (NAV) 7.62 2.59 3.11 3.59 5.49
Fund with Sales Charge (%) (POP) 7.62 2.59 3.11 3.59 5.49
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.62 2.59 3.11 3.59 5.49
Fund with Sales Charge (%) (POP) 7.62 2.59 3.11 3.59 5.49
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 7.62 2.59 3.11 3.59
Fund without Sales Charge (%) (NAV) After Shares Sold 5.87 2.74 3.19 3.64
Fund with Sales Charge (%) (POP) Before Shares Sold 7.62 2.59 3.11 3.59
Fund with Sales Charge (%) (POP) After Shares Sold 5.87 2.74 3.19 3.64
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.62 2.59 3.11 3.59
Fund without Sales Charge (%) (NAV) After Shares Sold 5.87 2.74 3.19 3.64
Fund with Sales Charge (%) (POP) Before Shares Sold 7.62 2.59 3.11 3.59
Fund with Sales Charge (%) (POP) After Shares Sold 5.87 2.74 3.19 3.64

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.55 2.25 1.37 2.56 9.19 -5.74 6.93 11.75 1.15 13.50
Fund with Sales Charge (%) (POP) 1.55 2.25 1.37 2.56 9.19 -5.74 6.93 11.75 1.15 13.50
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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.59 6.56 7.62 7.98 16.54 42.31 455.89
Fund with Sales Charge (%) (POP) 1.59 6.56 7.62 7.98 16.54 42.31 455.89
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.59 6.56 7.62 7.98 16.54 42.31 455.89
Fund with Sales Charge (%) (POP) 1.59 6.56 7.62 7.98 16.54 42.31 455.89
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.55 2.39 3.63
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Sharpe Ratio 0.46 0.85 0.88
Information Ratio -0.68 -0.45 -0.54
Tracking Error 1.30 1.21 1.30

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

3 YR 5 YR 10 YR
Beta Bull 0.66 0.77 1.03
Beta Bear 0.58 0.60 0.90
Bull Bear Capture Ratio 0.98 1.07 0.87
% of Positive Months 63.89 68.33 69.17
Gains/Losses 2.12 2.54 2.18
Maximum Drawdown
1.64 3.07 8.94

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

Gross Expense Ratio 0.59%
Net Expense Ratio [further-information] 0.59%
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 0.46
Standard Deviation 2.55

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index