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 09/01/1987
Fund without Sales Charge (%) (NAV) 6.40 3.20 2.59 3.77 5.42
Fund with Sales Charge (%) (POP) 6.40 3.20 2.59 3.77 5.42
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.40 3.20 2.59 3.77 5.42
Fund with Sales Charge (%) (POP) 6.40 3.20 2.59 3.77 5.42
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

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) 6.40 0.70 2.59
Fund with Sales Charge (%) (POP) 6.40 0.70 2.59
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 09/01/1987
Fund without Sales Charge (%) (NAV) 0.40 6.40 6.40 9.92 13.65 44.83 450.67
Fund with Sales Charge (%) (POP) 0.40 6.40 6.40 9.92 13.65 44.83 450.67
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.40 6.40 6.40 9.92 13.65 44.83 450.67
Fund with Sales Charge (%) (POP) 0.40 6.40 6.40 9.92 13.65 44.83 450.67
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.08 2.54 3.76
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.90 -0.45 -0.75
Beta 0.81 0.80 1.06
Sharpe Ratio 0.75 0.61 0.85
Information Ratio -2.09 -1.03 -0.54
Tracking Error 0.74 0.92 1.07
R-Squared 0.92 0.92 0.92

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

3 YR 5 YR 10 YR
Beta Bull 0.81 0.87 1.10
Beta Bear 0.73 0.70 1.05
Bull Bear Capture Ratio 0.81 0.91 0.87
% of Positive Months 72.22 73.33 70.83
Gains/Losses 2.90 2.17 2.18
Maximum Drawdown
1.33 3.61 9.04

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 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.81
Sharpe Ratio 0.75
Standard Deviation 2.08

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index