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 09/01/1987
Fund without Sales Charge (%) (NAV) 8.87 3.04 3.24 4.18 5.46
Fund with Sales Charge (%) (POP) 8.87 3.04 3.24 4.18 5.46
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.93
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/01/1987
Fund without Sales Charge (%) (NAV) 8.17 2.78 3.38 3.96 5.48
Fund with Sales Charge (%) (POP) 8.17 2.78 3.38 3.96 5.48
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

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 8.87 3.04 3.24 4.18
Fund without Sales Charge (%) (NAV) After Shares Sold 6.64 3.12 3.31 4.15
Fund with Sales Charge (%) (POP) Before Shares Sold 8.87 3.04 3.24 4.18
Fund with Sales Charge (%) (POP) After Shares Sold 6.64 3.12 3.31 4.15
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.17 2.78 3.38 3.96
Fund without Sales Charge (%) (NAV) After Shares Sold 6.23 2.92 3.42 3.96
Fund with Sales Charge (%) (POP) Before Shares Sold 8.17 2.78 3.38 3.96
Fund with Sales Charge (%) (POP) After Shares Sold 6.23 2.92 3.42 3.96

Calendar Year Returns

2018 2017
Fund without Sales Charge (%) (NAV) 0.83 4.15
Fund with Sales Charge (%) (POP) 0.83 4.15
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 09/01/1987
Fund without Sales Charge (%) (NAV) 1.20 6.81 8.87 9.39 17.28 50.65 453.43
Fund with Sales Charge (%) (POP) 1.20 6.81 8.87 9.39 17.28 50.65 453.43
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 536.99
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.87 6.74 8.17 8.56 18.11 47.43 453.07
Fund with Sales Charge (%) (POP) 1.87 6.74 8.17 8.56 18.11 47.43 453.07
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.87 2.70 3.81
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.22 0.02 -0.55
Beta 0.81 0.85 1.07
Sharpe Ratio 0.50 0.82 0.93
Information Ratio -0.69 -0.41 -0.29
Tracking Error 0.88 0.90 1.12
R-Squared 0.95 0.92 0.92

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

3 YR 5 YR 10 YR
Beta Bull 0.85 0.89 1.12
Beta Bear 0.79 0.77 1.08
Bull Bear Capture Ratio 1.00 1.02 0.92
% of Positive Months 69.44 70.00 68.33
Gains/Losses 2.23 2.45 2.31
Maximum Drawdown
1.46 3.99 8.45

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

Gross Expense Ratio 0.55%
Net Expense Ratio [further-information] 0.53%
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 0.81
Sharpe Ratio 0.50
Standard Deviation 2.87

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index