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 09/01/1987
Fund without Sales Charge (%) (NAV) 8.59 4.21 3.20 3.85 5.52
Fund with Sales Charge (%) (POP) 8.59 4.21 3.20 3.85 5.52
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 5.98
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.75 3.49 2.88 3.67 5.45
Fund with Sales Charge (%) (POP) 6.75 3.49 2.88 3.67 5.45
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

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 8.59 4.21 3.20 3.85
Fund without Sales Charge (%) (NAV) After Shares Sold 6.35 3.96 3.22 3.83
Fund with Sales Charge (%) (POP) Before Shares Sold 8.59 4.21 3.20 3.85
Fund with Sales Charge (%) (POP) After Shares Sold 6.35 3.96 3.22 3.83
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.75 3.49 2.88 3.67
Fund without Sales Charge (%) (NAV) After Shares Sold 5.31 3.43 2.99 3.70
Fund with Sales Charge (%) (POP) Before Shares Sold 6.75 3.49 2.88 3.67
Fund with Sales Charge (%) (POP) After Shares Sold 5.31 3.43 2.99 3.70

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 02/29/2020

Month EndAs of 02/29/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 3.15 2.99 8.59 13.16 17.05 45.94 473.52
Fund with Sales Charge (%) (POP) 3.15 2.99 8.59 13.16 17.05 45.94 473.52
Bloomberg Barclays Municipal Bond Index (%) 3.42 3.11 9.46 16.83 21.75 55.38 560.45
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.18 6.75 6.75 10.84 15.23 43.37 456.88
Fund with Sales Charge (%) (POP) 0.18 6.75 6.75 10.84 15.23 43.37 456.88
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.27 2.33 3.66
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.60 3.01 3.46
Sharpe Ratio 1.11 0.91 0.88
Information Ratio -1.21 -0.69 -0.55
Tracking Error 0.92 1.18 1.29

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

3 YR 5 YR 10 YR
Beta Bull 0.80 0.75 1.04
Beta Bear 0.60 0.60 0.90
Bull Bear Capture Ratio 0.93 1.03 0.87
% of Positive Months 66.67 70.00 69.17
Gains/Losses 3.49 2.77 2.21
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 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.11
Standard Deviation 2.27

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index