Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 9.29 3.07 3.31 3.97 5.58
Fund with Sales Charge (%) (POP) 9.29 3.07 3.31 3.97 5.58
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 6.49
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 8.24 2.80 3.49 3.77 5.59
Fund with Sales Charge (%) (POP) 8.24 2.80 3.49 3.77 5.59
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.50

After-Tax Average Annual Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.29 3.07 3.31 3.97
Fund without Sales Charge (%) (NAV) After Shares Sold 6.86 3.09 3.30 3.91
Fund with Sales Charge (%) (POP) Before Shares Sold 9.29 3.07 3.31 3.97
Fund with Sales Charge (%) (POP) After Shares Sold 6.86 3.09 3.30 3.91
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.24 2.80 3.49 3.76
Fund without Sales Charge (%) (NAV) After Shares Sold 6.23 2.88 3.45 3.74
Fund with Sales Charge (%) (POP) Before Shares Sold 8.24 2.80 3.49 3.76
Fund with Sales Charge (%) (POP) After Shares Sold 6.23 2.88 3.45 3.74

Calendar Year Returns

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

Cumulative Total Returns [further-information] As of 10/31/2019

Month EndAs of 10/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.07 6.72 9.29 9.51 17.66 47.60 553.92
Fund with Sales Charge (%) (POP) 1.07 6.72 9.29 9.51 17.66 47.60 553.92
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 780.36
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 1.69 6.63 8.24 8.64 18.72 44.75 553.41
Fund with Sales Charge (%) (POP) 1.69 6.63 8.24 8.64 18.72 44.75 553.41
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 778.79

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.12 2.86 4.01
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.35 -0.10 -0.98
Beta 0.88 0.91 1.13
Sharpe Ratio 0.46 0.78 0.83
Information Ratio -0.67 -0.41 -0.46
Tracking Error 0.90 0.79 1.17
R-Squared 0.93 0.93 0.93

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.05 1.01 1.17
Beta Bear 0.70 0.71 1.08
Bull Bear Capture Ratio 0.93 0.96 0.84
% of Positive Months 66.67 70.00 69.17
Gains/Losses 2.05 2.31 2.12
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.88
Sharpe Ratio 0.46
Standard Deviation 3.12

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index