Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 6.95 3.86 3.11 3.87 5.56
Fund with Sales Charge (%) (POP) 6.95 3.86 3.11 3.87 5.56
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 6.95 3.86 3.11 3.87 5.56
Fund with Sales Charge (%) (POP) 6.95 3.86 3.11 3.87 5.56
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 6.95 0.02 4.74
Fund with Sales Charge (%) (POP) 6.95 0.02 4.74
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

Cumulative Total Returns [further-information] As of 12/31/2019

Month EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.29 6.95 6.95 12.03 16.52 46.23 555.33
Fund with Sales Charge (%) (POP) 0.29 6.95 6.95 12.03 16.52 46.23 555.33
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 785.26
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.29 6.95 6.95 12.03 16.52 46.23 555.33
Fund with Sales Charge (%) (POP) 0.29 6.95 6.95 12.03 16.52 46.23 555.33
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 785.26

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.58 2.85 4.01
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.95 -0.26 -1.01
Beta 1.02 0.91 1.13
Sharpe Ratio 0.84 0.70 0.80
Information Ratio -1.42 -0.65 -0.49
Tracking Error 0.65 0.77 1.17
R-Squared 0.94 0.94 0.93

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.10 1.03 1.18
Beta Bear 1.13 0.71 1.08
Bull Bear Capture Ratio 0.81 0.93 0.83
% of Positive Months 66.67 68.33 68.33
Gains/Losses 2.91 2.23 2.09
Maximum Drawdown
2.34 3.92 10.03

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

Gross Expense Ratio 0.59%
Net Expense Ratio [further-information] 0.57%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Beta 1.02
Sharpe Ratio 0.84
Standard Deviation 2.58

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index