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Revenue Weighted Strategy

The strategy is comprised of the same securities as the S&P 400 Mid Cap Index. Each security in the fund is ranked by top line revenue, instead of market capitalization.
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Mid Cap Revenue ETF

RWK

The strategy is comprised of the same securities as the S&P 400 Mid Cap Index. Each security in the fund is ranked by top line revenue, instead of market capitalization.

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Cumulative Total Returns

as of 7/31/17

Since Inception 2/20/08
150%
Performance & Distributions
×

Revenue Weighted Strategy

Gross Expense Ratio:
      0.57%
    Net Expense Ratio:   0.39%

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

    "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.

    Cumulative Returns
    • A

    Compare to Indices

    Mid Cap Revenue ETF
    VALUE of $10,000.00

    Calendar Year Returns %
    Data as of 8/16/17
      2009 2010 2011 2012 2013 2014 2015 2016 YTD
    Mid Cap Revenue ETF 51.88 23.26 -1.56 15.84 40.60 9.48 -5.79 21.58 1.63
    S&P 400 Mid Cap Index 37.38 26.64 -1.73 17.88 33.50 9.77 -2.18 20.74
    Capital Gains Distributions ($ per share)
    Data as of 8/17/17
      2012 2013 2014 2015 2016
    Short Term
    Long Term 0.1375 0.2153 0.1693
    Total Amount of Distribution 0.1375 0.2153 0.1693
    Record Date 12/31/12 12/31/13 12/31/14
    Ex Div Date 12/27/12 12/27/13 12/29/14
    Pay Date 1/4/13 1/3/14 1/5/15

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    Average Annual Total Returns
    • B

    as of 7/31/17

    as of 6/30/17

    YTD (as of 8/16/17)
    1.63% 1.62%
    1 Year 13.65% 13.65%
    3 Year 8.52% 8.50%
    5 Year 15.54% 15.58%
    Since Inception 10.21% 10.21%
    YTD (as of 8/16/17)
    1.63% 1.62%
    1 Year 19.46% 19.45%
    3 Year 6.85% 6.84%
    5 Year 14.90% 14.91%
    Since Inception 10.26% 10.26%
    Performance History with Indices
    ×
    Gross Expense Ratio
    0.57%
    Net Expense Ratio
    0.39%
    NAV
    • C
    as of 8/16/17
    $54.88
    Closing Price
    as of 8/16/2017
    Market Close $54.89
    Bid/Ask Midpoint $54.89
    Bid/Ask Prem/Disc 0.02%
    Tickers & ISIN
    Index Bloomberg Ticker REVWMT
    Reuters Bridge Ticker RWK.IV
    ISIN US68386C2035

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    Top Holdings

    08/16/17

    See Full Holdings

    Tech Data Corp.
    2.3%
    World Fuel Services Corp.
    2.3%
    Arrow Electronics Inc.
    1.9%
    ManpowerGroup, Inc.
    1.6%
    Avnet, Inc.
    1.5%
    Jabil, Inc.
    1.5%
    PBF Energy, Inc.
    1.4%
    Aecom Technology Corp.
    1.4%
    Molina Healthcare, Inc.
    1.2%
    WellCare Health Plans, Inc.
    1.2%
    SYNNEX Corp.
    1.2%
    Reinsurance Group of America
    1.1%
    Tenet Healthcare Corp.
    1.1%
    United States Steel Corp.
    1.0%
    Avis Budget Group, Inc.
    1.0%
    HollyFrontier Corp.
    1.0%
    Murphy USA, Inc.
    0.8%
    Live Nation Entertainment, In...
    0.8%
    Blackbaud Inc.
    0.7%
    Steel Dynamics, Inc.
    0.7%
    ×
    • 2.3%
      Tech Data Corp.
    • Distributes technology products, services and solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 2.3%
      World Fuel Services Corp.
    • Sells and markets marine, aviation and land fuel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 1.9%
      Arrow Electronics Inc.
    • Distributes electronic components and computer products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.6%
      ManpowerGroup, Inc.
    • Offers a complete range of workforce solutions and services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Professional Services
    ×
    • 1.5%
      Avnet, Inc.
    • Distributes electronic components, enterprise computing and storage products, and embedded subsystems
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.5%
      Jabil, Inc.
    • Designs, manufactures & services electronics products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.4%
      PBF Energy, Inc.
    • Operates as petroleum refiners and suppliers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 1.4%
      Aecom Technology Corp.
    • Provide planning, consulting, architectural and engineering design, and program and construction management services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Construction & Engineering
    ×
    • 1.2%
      Molina Healthcare, Inc.
    • Provides health care services to persons eligible for Medicaid
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.2%
      WellCare Health Plans, Inc.
    • Provides managed care services to government-sponsored healthcare programs
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.2%
      SYNNEX Corp.
    • Develops and distributes computer systems and complementary products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.1%
      Reinsurance Group of America
    • Provides life reinsurance, international life and disability insurance as well as asset-intensive products and financial reinsurance services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Financials
    INDUSTRY Insurance
    ×
    • 1.1%
      Tenet Healthcare Corp.
    • Provides health care services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.0%
      United States Steel Corp.
    • Manufactures and supplies integrated steel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Materials
    INDUSTRY Metals & Mining
    ×
    • 1.0%
      Avis Budget Group, Inc.
    • Provides vehicle rental and car sharing services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Road & Rail
    ×
    • 1.0%
      HollyFrontier Corp.
    • Engages in producing and marketing oil refineries
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 0.8%
      Murphy USA, Inc.
    • Markets and distributes of retail motor fuel and gasoline product
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 0.8%
      Live Nation Entertainment, Inc.
    • Provides live entertainment events promotion and production services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Media
    ×
    • 0.7%
      Blackbaud Inc.
    • Provides software and related services for non-profit organizations
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    ×
    • 0.7%
      Steel Dynamics, Inc.
    • Manufactures carbon steel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Materials
    INDUSTRY Metals & Mining
    ×
    Holdings Breakdown

    as of 08/16/17

    99.9%

    United States

    99.9%

    Americas

    18.4%

    Information Technology

    17.0%

    Industrials

    16.5%

    Consumer Discretionary

    9.9%

    Financials

    9.5%

    Materials

    8.6%

    Health Care

    7.0%

    Energy

    5.6%

    Consumer Staples

    No Holding
    in
    Consumer Staples
    3.4%

    Utilities

    No Holding
    in
    Utilities
    2.9%

    Real Estate

    No Holding
    in
    Real Estate
    1.0%

    Telecommunication Services

    No Holding
    in
    Telecommunication Services
    10.3%

    Electronic Equipment Instruments & Components

    6.3%

    Insurance

    5.9%

    Oil Gas & Consumable Fuels

    5.6%

    Health Care Providers & Services

    5.3%

    Specialty Retail

    4.1%

    Machinery

    No Holding
    in
    Machinery
    3.7%

    Metals & Mining

    3.0%

    Chemicals

    No Holding
    in
    Chemicals
    3.0%

    Food Products

    No Holding
    in
    Food Products
    3.0%

    Construction & Engineering

    2.7%

    Household Durables

    No Holding
    in
    Household Durables
    2.7%

    IT Services

    No Holding
    in
    IT Services
    2.6%

    Road & Rail

    2.3%

    Equity Real Estate Investment Trusts (REITs)

    No Holding
    in
    Equity Real Estate Investment Trusts (REITs)
    2.3%

    Banks

    No Holding
    in
    Banks
    2.0%

    Containers & Packaging

    No Holding
    in
    Containers & Packaging
    1.9%

    Media

    1.8%

    Software

    1.8%

    Professional Services

    1.7%

    Hotels Restaurants & Leisure

    No Holding
    in
    Hotels Restaurants & Leisure
    99.9%

    Risk Measurements

    as of 07/31/17

    Alpha -2.89%
    Beta 1.13
    Bear Beta 0.97
    Bull Beta 1.26
    Excess Return -1.92
    Sharpe Ratio
    0.65
    Standard Deviation
    13.50%
    Sortino Ratio
    1.19
    Information Ratio
    -0.50
    Equity Style
    Total Assets
    as of 7/31/17
    $336.6 MM
    Portfolio Statistics

    as of 7/31/17

    Avg Market Cap (weighted) 4.56 BN
    Price/Book Value (LTM) 2.10
    Turnover Ratio
    22.23%
    Price/Sales Ratio 0.49
    Number of Securities
    as of 08/16/17
    400
    Dividends ($ per share)
    • D
    Est Frequency Quarterly
    Pay Date 4/10/17
    Per Share ($) 0.1145
    12-Month Distribution ($) 0.5854
    Distribution Sources
    Net Income 100.00%
    Net Profit from Sale 0.00%
    Other Capital Sources 0.00%
    Top Holdings

    08/16/17

    See Full Holdings

    Tech Data Corp....
    2.3%
    World Fuel Serv...
    2.3%
    Arrow Electroni...
    1.9%
    ManpowerGroup, ...
    1.6%
    Avnet, Inc.
    1.5%
    Jabil, Inc.
    1.5%
    PBF Energy, Inc...
    1.4%
    Aecom Technolog...
    1.4%
    Molina Healthca...
    1.2%
    WellCare Health...
    1.2%
    SYNNEX Corp.
    1.2%
    Reinsurance Gro...
    1.1%
    Tenet Healthcar...
    1.1%
    United States S...
    1.0%
    Avis Budget Gro...
    1.0%
    HollyFrontier C...
    1.0%
    Murphy USA, Inc...
    0.8%
    Live Nation Ent...
    0.8%
    Blackbaud Inc.
    0.7%
    Steel Dynamics,...
    0.7%
    Holdings Breakdown

    as of 08/16/17

    Reset
    99.9%

    United States

    99.9%

    Americas

    18.4%

    Information Technology

    17.0%

    Industrials

    16.5%

    Consumer Discretionary

    9.9%

    Financials

    9.5%

    Materials

    8.6%

    Health Care

    7.0%

    Energy

    5.6%

    Consumer Staples

    No Holding
    in
    Consumer Staples
    3.4%

    Utilities

    No Holding
    in
    Utilities
    2.9%

    Real Estate

    No Holding
    in
    Real Estate
    1.0%

    Telecommunication Services

    No Holding
    in
    Telecommunication Services
    10.3%

    Electronic Equipment Instruments & Components

    6.3%

    Insurance

    5.9%

    Oil Gas & Consumable Fuels

    5.6%

    Health Care Providers & Services

    5.3%

    Specialty Retail

    4.1%

    Machinery

    No Holding
    in
    Machinery
    3.7%

    Metals & Mining

    3.0%

    Chemicals

    No Holding
    in
    Chemicals
    3.0%

    Food Products

    No Holding
    in
    Food Products
    3.0%

    Construction & Engineering

    2.7%

    Household Durables

    No Holding
    in
    Household Durables
    2.7%

    IT Services

    No Holding
    in
    IT Services
    2.6%

    Road & Rail

    2.3%

    Equity Real Estate Investment Trusts (REITs)

    No Holding
    in
    Equity Real Estate Investment Trusts (REITs)
    2.3%

    Banks

    No Holding
    in
    Banks
    2.0%

    Containers & Packaging

    No Holding
    in
    Containers & Packaging
    1.9%

    Media

    1.8%

    Software

    1.8%

    Professional Services

    1.7%

    Hotels Restaurants & Leisure

    No Holding
    in
    Hotels Restaurants & Leisure
    99.9%

    ×
    • 2.3%
      Tech Data Corp.
    • Distributes technology products, services and solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 2.3%
      World Fuel Services Corp.
    • Sells and markets marine, aviation and land fuel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 1.9%
      Arrow Electronics Inc.
    • Distributes electronic components and computer products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.6%
      ManpowerGroup, Inc.
    • Offers a complete range of workforce solutions and services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Professional Services
    ×
    • 1.5%
      Avnet, Inc.
    • Distributes electronic components, enterprise computing and storage products, and embedded subsystems
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.5%
      Jabil, Inc.
    • Designs, manufactures & services electronics products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.4%
      PBF Energy, Inc.
    • Operates as petroleum refiners and suppliers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 1.4%
      Aecom Technology Corp.
    • Provide planning, consulting, architectural and engineering design, and program and construction management services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Construction & Engineering
    ×
    • 1.2%
      Molina Healthcare, Inc.
    • Provides health care services to persons eligible for Medicaid
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.2%
      WellCare Health Plans, Inc.
    • Provides managed care services to government-sponsored healthcare programs
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.2%
      SYNNEX Corp.
    • Develops and distributes computer systems and complementary products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 1.1%
      Reinsurance Group of America
    • Provides life reinsurance, international life and disability insurance as well as asset-intensive products and financial reinsurance services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Financials
    INDUSTRY Insurance
    ×
    • 1.1%
      Tenet Healthcare Corp.
    • Provides health care services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.0%
      United States Steel Corp.
    • Manufactures and supplies integrated steel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Materials
    INDUSTRY Metals & Mining
    ×
    • 1.0%
      Avis Budget Group, Inc.
    • Provides vehicle rental and car sharing services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Road & Rail
    ×
    • 1.0%
      HollyFrontier Corp.
    • Engages in producing and marketing oil refineries
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Energy
    INDUSTRY Oil Gas & Consumable Fuels
    ×
    • 0.8%
      Murphy USA, Inc.
    • Markets and distributes of retail motor fuel and gasoline product
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 0.8%
      Live Nation Entertainment, Inc.
    • Provides live entertainment events promotion and production services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Media
    ×
    • 0.7%
      Blackbaud Inc.
    • Provides software and related services for non-profit organizations
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    ×
    • 0.7%
      Steel Dynamics, Inc.
    • Manufactures carbon steel products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Materials
    INDUSTRY Metals & Mining
    ×

    Management

    Frank A. Vallario

    Managed Fund since 8/17

    Sean P. Reichert

    Managed Fund since 9/14

    Investment Approach

    Oppenheimer Mid Cap Revenue ETF gives investors access to the same broad basket of stocks as the S&P MidCap 400. Our transparent investment process re-weights the S&P 400 by each company’s revenue, producing a portfolio which we think is a better representation of companies’ economic contribution to the index. By ranking through revenue instead of market capitalization, we remove the traditional index’s bias towards overvalued stocks while maintaining the transparency and broad diversification that has historically attracted investors to index strategies.

    1. 1. Special Risks: An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. 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. Fund returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Fund. The alternate weighting approach employed by the Fund (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Fund is rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performance.
    2. 2. The net expense ratio 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 until December 2, 2017, unless approved by the Board.
    3. 3. Access Index Definitions
    4. 4. Holdings are subject to change, and are dollar weighted based on total new assets.
    5. A. 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. Returns do not consider capital gains or income taxes on an individual's investment.
    6. B. 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. Returns do not consider capital gains or income taxes on an individual's investment.

      The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

      "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.
    7. C. 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.
    8. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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    Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )