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 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
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 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 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 7.91 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
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 09/30/2019

Month 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
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 09/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.86 2.62 3.77
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.50 3.04 3.51
Alpha -0.26 -0.04 -0.24
Beta 0.79 0.84 1.04
Sharpe Ratio 0.37 0.85 0.94
Information Ratio -0.66 -0.63 -0.11
Tracking Error 0.91 0.76 0.92
R-Squared 0.96 0.95 0.94

ADDITIONAL RISK STATISTICSAs of 09/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.87 0.91 1.12
Beta Bear 0.75 0.74 1.02
Bull Bear Capture Ratio 1.00 1.00 0.97
% of Positive Months 66.67 71.67 71.67
Gains/Losses 1.99 2.50 2.30
Maximum Drawdown
2.85 3.97 8.28

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 09/30/2019 Updated Monthly, based on a 3-year period

Beta 0.79
Sharpe Ratio 0.37
Standard Deviation 2.86

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index