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Investment Factsheet
PAGE 39 OF 50
Inv. Data as of 03/31/25.
STATEMENT OF ADDITIONAL DISCLOSURES
charges are an important factor to consider before making an investment. The load compensates the broker or financial planner for the service of
providing professional investment advice.
Redemption fee. Amount charged when money is withdrawn from the fund. This fee does not go back to the investment company, but rather into
the fund itself and thus does not represent a net cost to shareholders. Also, unlike contingent deferred sales charges, redemption fees typically
operate only in short, specific time clauses, commonly 30, 180, or 365 days. However, some redemption fees exist for up to five years. Charges are
not imposed after the stated time has passed. These fees are typically imposed to discourage market timers, whose quick movements into and out
of an investment can be disruptive. The charge is normally imposed on the ending share value, appreciated or depreciated from the original value.
Initial Minimum Investment. The smallest investment amount accepted for establishing a new investment in the fund. Funds often charge a lower
fee for larger initial investments and will have several share classes that provide an alternative initial investment.
Fee Waiver/Cap. This value is from the investment’s most recent prospectus. The elimination of all or part of a fund’s expense or the cap or
maximum fee charged by the portfolio manager. Some fee waivers and caps have an expiration date; others are in place indefinitely. Some funds
adopt this practice at various times to make their returns more competitive.
INVESTMENT STRATEGY & STYLE
Peer Group. Fi360 utilizes the Morningstar Category for peer group assignment. In an effort to distinguish funds by what they own, as well as by
their prospectus objectives and styles, Morningstar developed the Morningstar Categories. While the prospectus objective identifies a fund’s
investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as
measured by their underlying portfolio holdings (portfolio and other statistics over the past three years). Peer groups are for comparison only, and do
not represent any investable products. Please reference the Peer Group Descriptions section for more specific detail on each peer group that is
included in this report.
Investment Strategy. A written summary of the Investment Objectives and Policy section found in every fund prospectus. It states the objective of
the fund, and how the managers intend to invest to achieve this objective. It includes any limitations as to the fund’s investment policies, as well as
any share class structure difference, previous names, merger, liquidation, and opening or closing information. This statement is from the fund
prospectus.
Morningstar Equity Style Box™. Morningstar classifies funds as being large-cap, mid-cap, or small-cap based on the market capitalization of long
stocks owned; and as value, blend, or growth based on the value-growth orientation of the stock holdings. The nine possible combinations of these
characteristics correspond to the nine squares of the Morningstar Style Box-size is displayed along the vertical axis and style is displayed along the
horizontal axis. The referenced data elements below are a weighted average of the long equity holdings in the portfolio.
Price/Earnings Ratio is a weighted average of the price/earnings ratios of the stocks in the underlying fund’s portfolio. The P/E ratio of a stock is
calculated by dividing the current price of the stock by its trailing 12-months’ earnings per share. In computing the average, portfolio holding is
weighted by the percentage of equity assets it represents.
Price/Cash Flow Ratio is a weighted average of the price/cash-flow ratios of the stocks in a fund’s portfolio. Price/cash-flow shows the ability of a
business to generate cash and acts as a gauge of liquidity and solvency.
Price/Book Ratio is a weighted average of the price/book ratios of all the stocks in the underlying fund’s portfolio. The P/B ratio of a company is
calculated by dividing the market price of its stock by the company’s per-share book value. Stocks with negative book values are excluded from this
calculation.
Geometric Average Market Capitalization of a fund’s equity portfolio offers a measure of the size of the companies in which the mutual fund invests.
Morningstar Fixed Income Style Box™. Morningstar classifies bond funds in its style box based on their interest rate sensitivity as limited (Ltd),
moderate (Mod) and extensive (Ext) measured by the average effective duration of the fund’s holdings; and their credit quality (Qual) as high (High),
medium (Med), or low (Low) based on letter (or alphanumeric) credit ratings of the long bonds owned by third party credit rating agencies. The nine
possible combinations of these characteristics correspond to the nine squares of the Morningstar Style Box -- quality is displayed along the vertical
axis and sensitivity to interest rate along the horizontal axis.
Please see important disclosures in the Statement of Additional Disclosures. © 2025, Broadridge Financial Solutions, Inc. All rights reserved. The analysis
and opinions generated by Broadridge and its affiliates do not constitute professional investment advice and are provided solely for informational purposes.
