1 Class A shares incepted on October 2, 2000. Effective June 20, 2008, the Advisor Class was renamed Class A and modified to assume the features and attributes of Class A. Performance shown for the Class A shares from October 2, 2000, through June 19, 2008, includes Advisor Class expenses and is adjusted to reflect Class A sales charges. Performance shown prior to October 2, 2000, for the Class A shares, reflects the performance of the Investor Class shares, adjusted to reflect Advisor Class expenses and Class A sales charges.
2 For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.
3 The Lipper Short Municipal Debt Funds Average is an average of funds that invest in municipal debt issues with dollar-weighted average maturities of less than three years. The total return of the Lipper Average does not include the effect of sales charges. You cannot invest directly in a Lipper Average.
4 Barclays 1-Year Municipal Bond Index is the one-year component of the Municipal Bond index, which is an unmanaged index composed of long-term tax-exempt bonds with a minimum credit rating of Baa. You cannot invest directly in an index.
5 The daily factor is the interest factor that generates the dividend on a daily basis.
6 The 7-day current yield is an annualized net yield that describes the annualized income earned over a 7-day period. The 30-day current yield is an annualized net yield that describes the annualized income earned over a 30-day period. The current yield calculations assume that the income earned on the principal is not reinvested in the fund. The 7-day effective yield is annualized net yield that describes the amount one is expected to earn over a 1-year period assuming that dividends are reinvested at the average rate of the last 7-days. The 30-day effective yield is an annualized yield that describes the amount that would be earned over a 1-year period if dividends were reinvested at the average rate of the last 30 days.
7 The 7-day current unsubsidized yield does not reflect the effect of any fee or expense waivers made by the Fund's manager.
8 The 30-day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. The 30-day unsubsidized SEC yield does not reflect waivers in effect. A fund's actual distribution rate will differ from the SEC yield and any income distributions from the fund may be higher or lower than the SEC yield.
Annualized Total Returns
