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) 7.39 3.95 2.81 3.59 5.64
Fund with Sales Charge (%) (POP) 7.39 3.95 2.81 3.59 5.64
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) 7.39 3.95 2.81 3.59 5.64
Fund with Sales Charge (%) (POP) 7.39 3.95 2.81 3.59 5.64
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) 7.39 1.05 3.49
Fund with Sales Charge (%) (POP) 7.39 1.05 3.49
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) 0.45 7.39 7.39 12.31 14.86 42.29 573.89
Fund with Sales Charge (%) (POP) 0.45 7.39 7.39 12.31 14.86 42.29 573.89
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) 0.45 7.39 7.39 12.31 14.86 42.29 573.89
Fund with Sales Charge (%) (POP) 0.45 7.39 7.39 12.31 14.86 42.29 573.89
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) 2.27 2.62 3.34
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.41 -0.25 -0.50
Beta 0.89 0.80 0.92
Sharpe Ratio 1.01 0.66 0.88
Information Ratio -1.14 -0.67 -0.71
Tracking Error 0.69 1.13 1.17
R-Squared 0.92 0.86 0.88

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

3 YR 5 YR 10 YR
Beta Bull 0.93 0.84 0.91
Beta Bear 0.87 0.68 0.92
Bull Bear Capture Ratio 0.95 0.94 0.89
% of Positive Months 72.22 70.00 69.17
Gains/Losses 3.37 2.17 2.22
Maximum Drawdown
1.47 3.74 7.73

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

Gross Expense Ratio 0.57%
Net Expense Ratio [further-information] 0.54%
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 0.89
Sharpe Ratio 1.01
Standard Deviation 2.27

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index