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) 9.49 3.10 2.89 3.63 5.66
Fund with Sales Charge (%) (POP) 9.49 3.10 2.89 3.63 5.66
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) 8.74 2.81 3.04 3.45 5.67
Fund with Sales Charge (%) (POP) 8.74 2.81 3.04 3.45 5.67
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 9.49 3.10 2.89 3.62
Fund without Sales Charge (%) (NAV) After Shares Sold 6.92 3.12 2.99 3.66
Fund with Sales Charge (%) (POP) Before Shares Sold 9.49 3.10 2.89 3.62
Fund with Sales Charge (%) (POP) After Shares Sold 6.92 3.12 2.99 3.66
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.74 2.81 3.04 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 6.47 2.90 3.12 3.51
Fund with Sales Charge (%) (POP) Before Shares Sold 8.74 2.81 3.04 3.45
Fund with Sales Charge (%) (POP) After Shares Sold 6.47 2.90 3.12 3.51

Calendar Year Returns

2018 2017
Fund without Sales Charge (%) (NAV) 1.05 3.49
Fund with Sales Charge (%) (POP) 1.05 3.49
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) 1.13 6.98 9.49 9.61 15.32 42.80 571.32
Fund with Sales Charge (%) (POP) 1.13 6.98 9.49 9.61 15.32 42.80 571.32
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) 1.75 6.91 8.74 8.67 16.18 40.41 570.88
Fund with Sales Charge (%) (POP) 1.75 6.91 8.74 8.67 16.18 40.41 570.88
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) 2.82 2.63 3.35
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.10 -0.18 -0.51
Beta 0.79 0.80 0.91
Sharpe Ratio 0.54 0.71 0.90
Information Ratio -0.52 -0.63 -0.72
Tracking Error 1.03 1.14 1.20
R-Squared 0.93 0.86 0.88

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

3 YR 5 YR 10 YR
Beta Bull 0.89 0.82 0.90
Beta Bear 0.67 0.68 0.92
Bull Bear Capture Ratio 1.02 0.95 0.89
% of Positive Months 69.44 70.00 69.17
Gains/Losses 2.23 2.20 2.23
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 10/31/2019 Updated Monthly, based on a 3-year period

Beta 0.79
Sharpe Ratio 0.54
Standard Deviation 2.82

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index