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 03/18/1986
Fund without Sales Charge (%) (NAV) 7.76 4.57 3.64 5.08 6.07
Fund with Sales Charge (%) (POP) 7.76 4.57 3.64 5.08 6.07
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.93
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.76 4.57 3.64 5.08 6.07
Fund with Sales Charge (%) (POP) 7.76 4.57 3.64 5.08 6.07
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.93

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) 7.76 2.17 3.86
Fund with Sales Charge (%) (POP) 7.76 2.17 3.86
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 03/18/1986
Fund without Sales Charge (%) (NAV) 0.31 7.76 7.76 14.35 19.55 64.14 632.56
Fund with Sales Charge (%) (POP) 0.31 7.76 7.76 14.35 19.55 64.14 632.56
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 599.36
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 0.31 7.76 7.76 14.35 19.55 64.14 632.56
Fund with Sales Charge (%) (POP) 0.31 7.76 7.76 14.35 19.55 64.14 632.56
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 599.36

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.27 3.19 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha 0.28 0.08 -0.20
Beta 0.86 1.00 1.23
Sharpe Ratio 1.30 0.80 1.01
Information Ratio -0.17 0.07 0.41
Tracking Error 0.90 0.99 1.57
R-Squared 0.86 0.90 0.90

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

3 YR 5 YR 10 YR
Beta Bull 0.84 0.94 1.19
Beta Bear 0.61 1.06 1.36
Bull Bear Capture Ratio 1.11 1.02 0.98
% of Positive Months 69.44 70.00 69.17
Gains/Losses 3.90 2.42 2.41
Maximum Drawdown
1.44 5.37 10.51

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

Gross Expense Ratio 0.52%
Net Expense Ratio [further-information] 0.52%
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 0.86
Sharpe Ratio 1.30
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