Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 7.79 3.75 2.94 4.27 6.33
Fund with Sales Charge (%) (POP) 7.79 3.75 2.94 4.27 6.33
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 6.62
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 7.91 2.48 3.15 4.09 6.36
Fund with Sales Charge (%) (POP) 7.91 2.48 3.15 4.09 6.36
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.64

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.79 3.75 2.94 4.27
Fund without Sales Charge (%) (NAV) After Shares Sold 6.11 3.73 3.12 4.24
Fund with Sales Charge (%) (POP) Before Shares Sold 7.79 3.75 2.94 4.27
Fund with Sales Charge (%) (POP) After Shares Sold 6.11 3.73 3.12 4.24
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.91 2.48 3.15 4.09
Fund without Sales Charge (%) (NAV) After Shares Sold 6.22 2.74 3.28 4.09
Fund with Sales Charge (%) (POP) Before Shares Sold 7.91 2.48 3.15 4.09
Fund with Sales Charge (%) (POP) After Shares Sold 6.22 2.74 3.28 4.09

Calendar Year Returns

2018 2017
Fund without Sales Charge (%) (NAV) 0.75 3.40
Fund with Sales Charge (%) (POP) 0.75 3.40
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) -0.52 6.70 7.79 11.68 15.58 51.98 820.50
Fund with Sales Charge (%) (POP) -0.52 6.70 7.79 11.68 15.58 51.98 820.50
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 914.01
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Fund with Sales Charge (%) (POP) 1.77 6.58 7.91 7.61 16.75 49.31 819.51
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 909.67

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.15 2.62 3.70
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Alpha -0.53 -0.18 -0.27
Beta 0.83 0.84 1.05
Sharpe Ratio 1.06 0.75 1.00
Information Ratio -1.63 -0.79 -0.10
Tracking Error 0.71 0.76 0.91
R-Squared 0.93 0.95 0.94

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.88 0.93 1.13
Beta Bear 0.86 0.74 1.03
Bull Bear Capture Ratio 0.95 0.98 0.97
Gains/Losses 3.63 2.40 2.45

SALES CHARGE, EXPENSES & FEES As of 09/01/2019 (updated annually)

Gross Expense Ratio 0.49%
Net Expense Ratio [further-information] 0.49%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Beta 0.83
Sharpe Ratio 1.06
Standard Deviation 2.15

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index