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 10/03/1988
Fund without Sales Charge (%) (NAV) 6.73 1.92 2.22 3.22 4.89
Fund with Sales Charge (%) (POP) 6.73 1.92 2.22 3.22 4.89
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 5.84
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 10/03/1988
Fund without Sales Charge (%) (NAV) 6.11 1.61 2.29 3.04 4.89
Fund with Sales Charge (%) (POP) 6.11 1.61 2.29 3.04 4.89
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.85

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 6.73 1.92 2.22 3.22
Fund without Sales Charge (%) (NAV) After Shares Sold 5.44 2.26 2.51 3.35
Fund with Sales Charge (%) (POP) Before Shares Sold 6.73 1.92 2.22 3.22
Fund with Sales Charge (%) (POP) After Shares Sold 5.44 2.26 2.51 3.35
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.11 1.61 2.29 3.04
Fund without Sales Charge (%) (NAV) After Shares Sold 5.06 2.02 2.57 3.21
Fund with Sales Charge (%) (POP) Before Shares Sold 6.11 1.61 2.29 3.04
Fund with Sales Charge (%) (POP) After Shares Sold 5.06 2.02 2.57 3.21

Calendar Year Returns

2018 2017
Fund without Sales Charge (%) (NAV) 1.00 2.04
Fund with Sales Charge (%) (POP) 1.00 2.04
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 10/03/1988
Fund without Sales Charge (%) (NAV) 0.68 4.98 6.73 5.86 11.61 37.27 340.50
Fund with Sales Charge (%) (POP) 0.68 4.98 6.73 5.86 11.61 37.27 340.50
Bloomberg Barclays Municipal Bond Index (%) 0.94 6.94 9.42 11.24 19.08 53.88 483.68
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 1.11 4.81 6.11 4.91 11.99 34.92 339.81
Fund with Sales Charge (%) (POP) 1.11 4.81 6.11 4.91 11.99 34.92 339.81
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 482.63

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.29 2.27 3.54
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.42 3.03 3.42
Alpha -0.97 -0.58 -1.09
Beta 0.63 0.69 0.96
Sharpe Ratio 0.13 0.51 0.73
Information Ratio -1.26 -1.09 -1.00
Tracking Error 1.39 1.28 1.29
R-Squared 0.92 0.85 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.52 0.61 0.97
Beta Bear 0.69 0.67 0.98
Bull Bear Capture Ratio 0.84 0.86 0.80
% of Positive Months 69.44 70.00 67.50
Gains/Losses 1.86 2.02 2.00
Maximum Drawdown
1.00 3.73 9.15

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

Gross Expense Ratio 0.66%
Net Expense Ratio [further-information] 0.63%
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 0.63
Sharpe Ratio 0.13
Standard Deviation 2.29

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index