Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.87 3.98 3.75 3.86 5.57
Fund with Sales Charge (%) (POP) 4.87 3.98 3.75 3.86 5.57
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 4.06 3.65 3.60 3.80 5.54
Fund with Sales Charge (%) (POP) 4.06 3.65 3.60 3.80 5.54
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 6.45

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.87 3.98 3.75 3.86
Fund without Sales Charge (%) (NAV) After Shares Sold 4.03 3.75 3.62 3.78
Fund with Sales Charge (%) (POP) Before Shares Sold 4.87 3.98 3.75 3.86
Fund with Sales Charge (%) (POP) After Shares Sold 4.03 3.75 3.62 3.78
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.06 3.65 3.60 3.79
Fund without Sales Charge (%) (NAV) After Shares Sold 3.57 3.51 3.51 3.74
Fund with Sales Charge (%) (POP) Before Shares Sold 4.06 3.65 3.60 3.79
Fund with Sales Charge (%) (POP) After Shares Sold 3.57 3.51 3.51 3.74

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 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 5.00 3.54 4.87 12.42 20.22 46.05 578.50
Fund with Sales Charge (%) (POP) 5.00 3.54 4.87 12.42 20.22 46.05 578.50
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.78 2.03 4.06 11.36 19.33 45.17 568.64
Fund with Sales Charge (%) (POP) 1.78 2.03 4.06 11.36 19.33 45.17 568.64
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 803.64

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.98 3.57 4.35
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Alpha -0.52 -0.18 -0.83
Beta 0.99 0.92 1.10
Sharpe Ratio 0.58 0.72 0.73
Information Ratio -0.77 -0.52 -0.43
Tracking Error 0.75 0.85 1.17
R-Squared 0.96 0.95 0.94

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.07 1.04 1.15
Beta Bear 0.83 0.76 0.97
Bull Bear Capture Ratio 0.91 0.97 0.86
Gains/Losses 2.13 2.26 1.96

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.60%
Net Expense Ratio [further-information] 0.58%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Beta 0.99
Sharpe Ratio 0.58
Standard Deviation 3.98

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index