Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.71 3.71 3.34 3.99 5.40
Fund with Sales Charge (%) (POP) 3.71 3.71 3.34 3.99 5.40
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 3.71 3.71 3.34 3.99 5.40
Fund with Sales Charge (%) (POP) 3.71 3.71 3.34 3.99 5.40
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.89

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.71 3.71 3.34 3.99
Fund without Sales Charge (%) (NAV) After Shares Sold 3.41 3.61 3.36 3.97
Fund with Sales Charge (%) (POP) Before Shares Sold 3.71 3.71 3.34 3.99
Fund with Sales Charge (%) (POP) After Shares Sold 3.41 3.61 3.36 3.97
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.71 3.71 3.34 3.99
Fund without Sales Charge (%) (NAV) After Shares Sold 3.41 3.61 3.36 3.97
Fund with Sales Charge (%) (POP) Before Shares Sold 3.71 3.71 3.34 3.99
Fund with Sales Charge (%) (POP) After Shares Sold 3.41 3.61 3.36 3.97

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 7.13 0.83 4.15
Fund with Sales Charge (%) (POP) 7.13 0.83 4.15
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.12 1.43 3.71 11.54 17.85 47.88 463.07
Fund with Sales Charge (%) (POP) 2.12 1.43 3.71 11.54 17.85 47.88 463.07
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 2.12 1.43 3.71 11.54 17.85 47.88 463.07
Fund with Sales Charge (%) (POP) 2.12 1.43 3.71 11.54 17.85 47.88 463.07
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 553.83

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 4.00 3.59 4.23
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Alpha -0.42 -0.24 -0.51
Beta 1.00 0.93 1.07
Sharpe Ratio 0.62 0.71 0.80
Information Ratio -0.77 -0.61 -0.25
Tracking Error 0.55 0.77 1.10
R-Squared 0.98 0.96 0.94

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

3 YR 5 YR 10 YR
Beta Bull 1.01 0.96 1.10
Beta Bear 1.12 0.96 1.07
Bull Bear Capture Ratio 0.95 0.98 0.92
Gains/Losses 2.27 2.31 2.10

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

Gross Expense Ratio 0.54%
Net Expense Ratio [further-information] 0.53%
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 1.00
Sharpe Ratio 0.62
Standard Deviation 4.00

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index