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 05/12/1988
Fund without Sales Charge (%) (NAV) 6.67 3.70 2.84 3.57 5.41
Fund with Sales Charge (%) (POP) 6.67 3.70 2.84 3.57 5.41
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.89
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/12/1988
Fund without Sales Charge (%) (NAV) 6.67 3.70 2.84 3.57 5.41
Fund with Sales Charge (%) (POP) 6.67 3.70 2.84 3.57 5.41
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.89

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) 6.67 1.66 2.82
Fund with Sales Charge (%) (POP) 6.67 1.66 2.82
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 05/12/1988
Fund without Sales Charge (%) (NAV) 0.28 6.67 6.67 11.51 15.01 42.06 429.37
Fund with Sales Charge (%) (POP) 0.28 6.67 6.67 11.51 15.01 42.06 429.37
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 510.74
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/12/1988
Fund without Sales Charge (%) (NAV) 0.28 6.67 6.67 11.51 15.01 42.06 429.37
Fund with Sales Charge (%) (POP) 0.28 6.67 6.67 11.51 15.01 42.06 429.37
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 510.74

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.89 2.33 3.54
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.16 -0.04 -0.69
Beta 0.71 0.71 0.97
Sharpe Ratio 1.07 0.75 0.83
Information Ratio -1.10 -0.64 -0.68
Tracking Error 0.97 1.18 1.26
R-Squared 0.87 0.88 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.71 0.72 0.98
Beta Bear 0.71 0.64 0.89
Bull Bear Capture Ratio 1.09 1.02 0.85
% of Positive Months 69.44 66.67 67.50
Gains/Losses 3.80 2.44 2.12
Maximum Drawdown
1.08 3.18 8.53

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

Gross Expense Ratio 0.54%
Net Expense Ratio [further-information] 0.54%
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 0.71
Sharpe Ratio 1.07
Standard Deviation 1.89

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index