Overview
The Strategy typically invests in dividend-paying value stocks.
- Inception Date
- February 27, 2004
- Investment Style
- Dividend Value
- Fund Index
- Russell 3000® Value Index
- CUSIP
- 68382H206
-
NAV
- B
- (as of 04/23/2018)
- $23.23
- Total Assets
- (as of 03/31/2018)
- $262.69 MM
- Gross Expense Ratio
- (as of 03/29/2018)
- 1.94%
- Net Expense Ratio
- (as of 03/29/2018)
- 1.93%
Performance
Average Annual Returns as of 03/31/2018
Average Annual Returns as of 03/31/2018
Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
- C
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -2.41% | 7.21% | 6.77% | 7.81% | 4.76% | 5.47% | |
| -2.82% | 6.81% | 7.87% | 10.71% | 7.84% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -7.27% | 2.21% | 5.89% | 7.51% | 4.76% | 5.47% | |
| -2.82% | 6.81% | 7.87% | 10.71% | 7.84% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -2.41% | 7.21% | 6.77% | 7.81% | 4.76% | 5.47% | |
| -2.82% | 6.81% | 7.87% | 10.71% | 7.84% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-03-31
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| -7.27% | 2.21% | 5.89% | 7.51% | 4.76% | 5.47% | |
| -2.82% | 6.81% | 7.87% | 10.71% | 7.84% | - | |
Gross Expense Ratio:
1.94%
| Net Expense Ratio:
1.93%
The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
Calendar Year Returns as of 04/23/2018
| Year | Dividend Opportunity Fund | Russell 3000® Value Index |
|---|---|---|
| 2005 | 8.18% | 6.85% |
| 2006 | 19.35% | 22.34% |
| 2007 | 3.16% | -1.01% |
| 2008 | -47.41% | -36.25% |
| 2009 | 40.16% | 19.76% |
| 2010 | 18.28% | 16.23% |
| 2011 | -11.62% | -0.10% |
| 2012 | 10.73% | 17.55% |
| 2013 | 22.49% | 32.69% |
| 2014 | 4.13% | 12.70% |
| 2015 | -0.51% | -4.13% |
| 2016 | 12.75% | 18.40% |
| 2017 | 13.46% | 13.19% |
The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
Cumulative Returns & Income Dividends
| Date | Dividend Opportunity Fund | Russell 3000® Value Index | MSCI World | S&P 500 |
|---|---|---|---|---|
| 3/31/2008 | 0.00 | 0.00 | 0.00 | 0.00 |
| 4/30/2008 | 7.75 | 4.74 | 5.26 | 4.87 |
| 5/31/2008 | 7.69 | 4.86 | 6.86 | 6.23 |
| 6/30/2008 | -0.74 | -5.17 | -1.66 | -2.73 |
| 7/31/2008 | -3.04 | -5.11 | -4.06 | -3.54 |
| 8/31/2008 | -1.30 | -3.27 | -5.41 | -2.15 |
| 9/30/2008 | -12.22 | -10.16 | -16.66 | -10.87 |
| 10/31/2008 | -32.07 | -25.92 | -32.46 | -25.84 |
| 11/30/2008 | -39.83 | -31.50 | -36.83 | -31.16 |
| 12/31/2008 | -40.00 | -30.29 | -34.81 | -30.43 |
| 1/31/2009 | -41.37 | -38.47 | -40.52 | -36.29 |
| 2/28/2009 | -47.85 | -46.71 | -46.61 | -43.07 |
| 3/31/2009 | -42.81 | -42.14 | -42.58 | -38.09 |
| 4/30/2009 | -36.26 | -35.70 | -36.14 | -32.16 |
| 5/31/2009 | -31.34 | -31.94 | -30.35 | -28.37 |
| 6/30/2009 | -30.72 | -32.42 | -30.67 | -28.23 |
| 7/31/2009 | -25.67 | -26.71 | -24.80 | -22.80 |
| 8/31/2009 | -21.12 | -22.91 | -21.69 | -20.01 |
| 9/30/2009 | -17.88 | -19.86 | -18.57 | -17.03 |
| 10/31/2009 | -20.25 | -22.54 | -20.02 | -18.57 |
| 11/30/2009 | -17.07 | -18.33 | -16.75 | -13.68 |
| 12/31/2009 | -15.91 | -16.52 | -15.26 | -12.01 |
| 1/31/2010 | -19.47 | -18.87 | -18.76 | -15.18 |
| 2/28/2010 | -16.97 | -16.21 | -17.62 | -12.55 |
| 3/31/2010 | -10.78 | -10.64 | -12.51 | -7.28 |
| 4/30/2010 | -9.41 | -7.99 | -12.50 | -5.81 |
| 5/31/2010 | -16.84 | -15.57 | -20.88 | -13.33 |
| 6/30/2010 | -22.22 | -20.55 | -23.60 | -17.87 |
| 7/31/2010 | -15.22 | -15.14 | -17.40 | -12.12 |
| 8/31/2010 | -20.72 | -18.99 | -20.48 | -16.08 |
| 9/30/2010 | -12.97 | -12.52 | -13.07 | -8.59 |
| 10/31/2010 | -8.66 | -9.84 | -9.83 | -5.12 |
| 11/30/2010 | -8.60 | -10.10 | -11.78 | -5.10 |
| 12/31/2010 | -0.54 | -2.97 | -5.29 | 1.24 |
| 1/31/2011 | 1.65 | -0.95 | -3.15 | 3.64 |
| 2/28/2011 | 4.46 | 2.81 | 0.24 | 7.19 |
| 3/31/2011 | 5.21 | 3.30 | -0.75 | 7.23 |
| 4/30/2011 | 8.46 | 5.97 | 3.47 | 10.41 |
| 5/31/2011 | 7.02 | 4.78 | 1.32 | 9.16 |
| 6/30/2011 | 3.71 | 2.60 | -0.28 | 7.34 |
| 7/31/2011 | 0.46 | -0.80 | -2.09 | 5.16 |
| 8/31/2011 | -9.16 | -7.21 | -8.99 | -0.56 |
| 9/30/2011 | -18.59 | -14.47 | -16.85 | -7.55 |
| 10/31/2011 | -9.41 | -4.48 | -8.25 | 2.56 |
| 11/30/2011 | -12.03 | -4.95 | -10.49 | 2.33 |
| 12/31/2011 | -12.10 | -3.07 | -10.54 | 3.38 |
| 1/31/2012 | -7.53 | 0.82 | -6.05 | 8.01 |
| 2/29/2012 | -4.66 | 4.63 | -1.46 | 12.68 |
| 3/31/2012 | -3.35 | 7.75 | -0.19 | 16.39 |
| 4/30/2012 | -5.85 | 6.61 | -1.33 | 15.66 |
| 5/31/2012 | -13.28 | 0.34 | -9.84 | 8.71 |
| 6/30/2012 | -10.41 | 5.31 | -5.25 | 13.19 |
| 7/31/2012 | -9.85 | 6.23 | -4.03 | 14.76 |
| 8/31/2012 | -7.41 | 8.61 | -1.60 | 17.34 |
| 9/30/2012 | -4.91 | 12.09 | 1.11 | 20.37 |
| 10/31/2012 | -5.35 | 11.48 | 0.42 | 18.15 |
| 11/30/2012 | -4.66 | 11.46 | 1.71 | 18.84 |
| 12/31/2012 | -2.66 | 13.94 | 3.62 | 19.92 |
| 1/31/2013 | 2.21 | 21.30 | 8.90 | 26.13 |
| 2/28/2013 | 1.90 | 23.01 | 9.08 | 27.84 |
| 3/31/2013 | 5.90 | 27.91 | 11.63 | 32.64 |
| 4/30/2013 | 7.15 | 29.68 | 15.15 | 35.19 |
| 5/31/2013 | 7.96 | 33.05 | 15.19 | 38.36 |
| 6/30/2013 | 6.09 | 31.93 | 12.35 | 36.50 |
| 7/31/2013 | 11.02 | 39.15 | 18.27 | 43.44 |
| 8/31/2013 | 6.84 | 33.81 | 15.75 | 39.29 |
| 9/30/2013 | 10.83 | 37.50 | 21.54 | 43.66 |
| 10/31/2013 | 15.02 | 43.40 | 26.30 | 50.26 |
| 11/30/2013 | 17.21 | 47.53 | 28.54 | 54.84 |
| 12/31/2013 | 19.23 | 51.19 | 31.26 | 58.76 |
| 1/31/2014 | 13.53 | 45.78 | 26.40 | 53.27 |
| 2/28/2014 | 17.10 | 52.11 | 32.73 | 60.28 |
| 3/31/2014 | 19.08 | 55.60 | 32.92 | 61.63 |
| 4/30/2014 | 20.92 | 56.64 | 34.28 | 62.82 |
| 5/31/2014 | 23.11 | 58.84 | 36.93 | 66.65 |
| 6/30/2014 | 26.04 | 63.21 | 39.37 | 70.09 |
| 7/31/2014 | 24.63 | 59.85 | 37.15 | 67.74 |
| 8/31/2014 | 27.46 | 65.81 | 40.17 | 74.45 |
| 9/30/2014 | 24.50 | 61.79 | 36.37 | 72.01 |
| 10/31/2014 | 25.30 | 66.00 | 37.25 | 76.21 |
| 11/30/2014 | 26.17 | 69.07 | 40.00 | 80.95 |
| 12/31/2014 | 24.85 | 70.38 | 37.74 | 80.49 |
| 1/31/2015 | 23.10 | 63.55 | 35.25 | 75.07 |
| 2/28/2015 | 28.84 | 71.44 | 43.17 | 85.14 |
| 3/31/2015 | 27.66 | 69.51 | 40.93 | 82.21 |
| 4/30/2015 | 30.42 | 70.68 | 44.24 | 83.96 |
| 5/31/2015 | 31.61 | 72.68 | 44.73 | 86.32 |
| 6/30/2015 | 27.97 | 69.51 | 41.37 | 82.71 |
| 7/31/2015 | 30.31 | 69.81 | 43.90 | 86.54 |
| 8/31/2015 | 23.48 | 59.84 | 34.38 | 75.29 |
| 9/30/2015 | 20.01 | 54.95 | 29.43 | 70.95 |
| 10/31/2015 | 28.41 | 66.40 | 39.68 | 85.37 |
| 11/30/2015 | 28.03 | 67.36 | 38.99 | 85.92 |
| 12/31/2015 | 25.15 | 63.34 | 36.54 | 82.99 |
| 1/31/2016 | 20.29 | 54.70 | 28.37 | 73.91 |
| 2/29/2016 | 19.39 | 54.75 | 27.42 | 73.67 |
| 3/31/2016 | 27.58 | 66.03 | 36.07 | 85.46 |
| 4/30/2016 | 30.09 | 69.52 | 38.22 | 86.18 |
| 5/31/2016 | 30.73 | 72.19 | 39.00 | 89.52 |
| 6/30/2016 | 32.00 | 73.61 | 37.44 | 90.01 |
| 7/31/2016 | 36.27 | 78.97 | 43.24 | 97.02 |
| 8/31/2016 | 36.47 | 80.57 | 43.36 | 97.29 |
| 9/30/2016 | 36.94 | 80.33 | 44.13 | 97.33 |
| 10/31/2016 | 34.85 | 77.30 | 41.34 | 93.73 |
| 11/30/2016 | 40.21 | 88.44 | 43.37 | 100.90 |
| 12/31/2016 | 42.25 | 93.40 | 46.80 | 104.88 |
| 1/31/2017 | 43.31 | 94.55 | 50.34 | 108.76 |
| 2/28/2017 | 47.53 | 101.20 | 54.51 | 117.05 |
| 3/31/2017 | 47.19 | 99.18 | 56.16 | 117.30 |
| 4/30/2017 | 47.52 | 98.90 | 58.47 | 119.54 |
| 5/31/2017 | 47.99 | 98.23 | 61.82 | 122.63 |
| 6/30/2017 | 49.76 | 101.75 | 62.45 | 124.01 |
| 7/31/2017 | 51.50 | 104.32 | 66.33 | 128.62 |
| 8/31/2017 | 49.76 | 101.75 | 66.57 | 129.32 |
| 9/30/2017 | 53.90 | 108.33 | 70.31 | 134.05 |
| 10/31/2017 | 56.72 | 109.75 | 73.52 | 139.51 |
| 11/30/2017 | 59.61 | 116.15 | 77.28 | 146.86 |
| 12/31/2017 | 62.74 | 118.91 | 79.68 | 149.60 |
| 1/31/2018 | 68.35 | 126.95 | 89.17 | 163.89 |
| 2/28/2018 | 61.46 | 116.07 | 81.33 | 154.17 |
| 3/29/2018 | 59.10 |
| Date | Dividends |
|---|---|
| 12/15/2008 | 0.0405 |
| 12/14/2009 | 0.0373 |
| 12/5/2013 | 0.0431 |
| 3/19/2014 | 0.1041 |
| 6/18/2014 | 0.1201 |
| 9/17/2014 | 0.0995 |
| 12/2/2014 | 0.0702 |
| 3/17/2015 | 0.0965 |
| 6/16/2015 | 0.0907 |
| 9/22/2015 | 0.0895 |
| 12/1/2015 | 0.0787 |
| 3/22/2016 | 0.0959 |
| 6/21/2016 | 0.096 |
| 9/20/2016 | 0.0978 |
| 12/1/2016 | 0.1739 |
| 3/21/2017 | 0.0962 |
| 6/20/2017 | 0.0902 |
| 9/19/2017 | 0.0795 |
| 12/1/2017 | 0.0755 |
| 3/20/2018 | 0.0683 |
There is no guarantee of the payment of any dividend or other distributions at any level.
The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
Capital Gains and Distributions ($ per share) as of 04/23/2018
| Date | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|
| Short Term | — | — | — | — | — |
| Long Term | — | — | — | — | — |
| Total Amount of Distribution | — | — | — | — | — |
| Record Date | — | — | — | — | — |
| Ex Div Date | — | — | — | — | — |
| Pay Date | — | — | — | — | — |
There is no guarantee of the payment of any dividend or other distributions at any level.
Portfolio
Top Issuers
(48.2% of assets as of 03/31/2018)
Domestic Equity
CLASS B: OSVBX
Portfolio Holdings Breakdown
as of
03/31/2018
| Country | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| United States | 70.0% | 99.8% | -29.7% |
| United Kingdom | 10.0% | 0.0% | 10.0% |
| Japan | 5.4% | - | - |
| Canada | 3.1% | 0.0% | 3.1% |
| Spain | 1.6% | - | - |
| Italy | 1.5% | - | - |
| Portugal | 1.5% | - | - |
| Netherlands | 1.0% | 0.1% | 0.9% |
| Australia | 0.8% | - | - |
| Switzerland | 0.7% | - | - |
| New Zealand | 0.6% | - | - |
| Germany | 0.6% | - | - |
| Denmark | 0.6% | - | - |
| Developed Markets | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Americas | 73.1% | 99.8% | -26.7% |
| Europe | 17.5% | 0.2% | 17.4% |
| Asia Pacific | 6.7% | - | - |
| Equity Sector | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Financials | 20.7% | 27.4% | -6.7% |
| Energy | 14.0% | 10.4% | 3.6% |
| Information Technology | 12.0% | 9.2% | 2.8% |
| Industrials | 10.8% | 8.5% | 2.2% |
| Consumer Staples | 8.0% | 7.6% | 0.3% |
| Consumer Discretionary | 7.1% | 7.1% | 0.0% |
| Utilities | 6.6% | 5.9% | 0.7% |
| Health Care | 6.0% | 13.1% | -7.1% |
| Telecommunication Services | 4.7% | 2.7% | 2.0% |
| Real Estate | 4.5% | 5.0% | -0.5% |
| Materials | 3.0% | 3.0% | 0.0% |
| Industry | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Banks | 16.5% | 13.4% | 3.1% |
| Oil Gas & Consumable Fuels | 14.0% | 9.1% | 4.9% |
| Electric Utilities | 5.6% | 3.4% | 2.1% |
| Pharmaceuticals | 4.8% | 6.1% | -1.3% |
| Diversified Telecommunication Services | 4.7% | 2.6% | 2.1% |
| Equity Real Estate Investment Trusts (REITs) | 4.5% | 4.7% | -0.3% |
| Aerospace & Defense | 4.0% | 2.1% | 1.9% |
| Semiconductors & Semiconductor Equipment | 3.6% | 3.1% | 0.6% |
| Software | 3.6% | 1.3% | 2.3% |
| Communications Equipment | 3.5% | 2.0% | 1.5% |
| Hotels Restaurants & Leisure | 3.3% | 0.8% | 2.5% |
| Beverages | 3.0% | 0.6% | 2.5% |
| Trading Companies & Distributors | 2.3% | 0.2% | 2.1% |
| Capital Markets | 2.2% | 4.1% | -1.9% |
| Food & Staples Retailing | 2.1% | 2.0% | 0.1% |
| Automobiles | 1.9% | 0.7% | 1.1% |
| Tobacco | 1.8% | 1.1% | 0.7% |
| Machinery | 1.6% | 1.5% | 0.1% |
| Electronic Equipment Instruments & Components | 1.3% | 0.7% | 0.6% |
| Metals & Mining | 1.3% | 0.9% | 0.4% |
| Asset Allocation | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Equity | 97.4% | 100.0% | -2.6% |
| Market Cap | Dividend Opportunity Fund | Russell 3000® Value Index | Overweight / Underweight |
|---|---|---|---|
| Large | 81.1% | 72.9% | 8.2% |
| Mid | 11.3% | 19.9% | -8.6% |
| Small | 5.0% | 7.2% | -2.2% |
Analytics
Morningstar
03/31/2018
(based on risk adjusted performance)
Overall Rating
Number of Funds
1086
Category
Large Value
Performance Statistics
3Y
5Y
Alpha
-0.02
-1.12
Beta
0.85
0.84
Information Ratio
-0.38
-0.89
R-Squared
93.17
90.22
Sharpe Ratio
0.69
0.84
Standard Deviation
9.26
8.98
Upside Capture
86.12
80.54
Downside Capture
86.19
88.10
Sortino Ratio
0.34
0.41
Win Ratio
53.00
45.00
Loss Ratio
47.00
55.00
Tracking Error
2.88
3.25
Dividends
- E
Est. Frequency
Quarterly
Last Pay Date
3/20/2018
Per Share ($)
$0.0683
12-Month Distribution ($)
$0.3135
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$126.50 B
$112.00 B
Median Market Cap (weighted)
$82.00 B
$54.90 B
P/E Ratio (LTM)
16.32
19.54
P/E Ratio (NTM)
14.09
14.64
Price/Book
2.04
1.99
Return on Equity
13.71%
11.00%
Turnover Ratio
64.00%
-
Active Share
77.09%
-
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
1.19%
Standardized Yield
1.51%
Distribution Sources
- E
Net Income
92.40%
Net Profit from Sale
0.00%
Other Capital Sources
7.60%
Documents
- 1. Effective on 12/11/13, the Fund mainly invests in dividend paying stocks that the portfolio manager believes are undervalued. Performance prior to 12/11/13 is not indicative of performance for any subsequent periods.
- 2. Special Risks: There is no guarantee that the issuers of stocks will declare dividends in the future, or that dividends will remain at their current levels or increase over time. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile.
- 3. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
- 4. Access index definitions.
- 5. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
- 6. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
- 7. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase yields.
- 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes). The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized. Falling share prices artificially increase yields.
- A. Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion. ↩
- B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily. ↩
- C. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
- D. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions. ↩
- E. There is no guarantee of the payment of any dividend or other distributions at any level. ↩