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 10/03/1988
Fund without Sales Charge (%) (NAV) 5.28 2.76 2.15 3.17 4.87
Fund with Sales Charge (%) (POP) 5.28 2.76 2.15 3.17 4.87
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.83
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/03/1988
Fund without Sales Charge (%) (NAV) 5.28 2.76 2.15 3.17 4.87
Fund with Sales Charge (%) (POP) 5.28 2.76 2.15 3.17 4.87
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.83

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) 5.28 1.00 2.04
Fund with Sales Charge (%) (POP) 5.28 1.00 2.04
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 10/03/1988
Fund without Sales Charge (%) (NAV) 0.45 5.28 5.28 8.50 11.23 36.68 341.76
Fund with Sales Charge (%) (POP) 0.45 5.28 5.28 8.50 11.23 36.68 341.76
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 486.92
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/03/1988
Fund without Sales Charge (%) (NAV) 0.45 5.28 5.28 8.50 11.23 36.68 341.76
Fund with Sales Charge (%) (POP) 0.45 5.28 5.28 8.50 11.23 36.68 341.76
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 486.92

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.60 2.26 3.53
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.71 -0.64 -1.09
Beta 0.60 0.69 0.97
Sharpe Ratio 0.70 0.46 0.72
Information Ratio -1.75 -1.13 -1.00
Tracking Error 1.13 1.28 1.26
R-Squared 0.86 0.85 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.55 0.62 0.98
Beta Bear 0.52 0.67 0.98
Bull Bear Capture Ratio 0.89 0.85 0.80
% of Positive Months 72.22 70.00 68.33
Gains/Losses 3.09 1.99 1.98
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 12/31/2019 Updated Monthly, based on a 3-year period

Beta 0.60
Sharpe Ratio 0.70
Standard Deviation 1.60

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index