Spoof Access

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RGLB
Oppenheimer

Global Revenue ETF

Overview
NAV
  • B
(as of 02/15/2019)
$25.71
Daily Change
(as of 02/15/2019)
$0.16
0.61%
YTD
(as of 02/15/2019)
8.34%
Expense Ratio
(as of 02/15/2019)
0.43%

The strategy provides access to the same securities as the MSCI All Country World Index, weighted by top line revenue instead of market capitalization.

Why RGLB?
1. Seeks to provide efficient access to the global equity markets.
2. Employs OppenheimerFunds’ proprietary revenue weighting methodology.
3. Offers the opportunity to diversify across the global equity markets.

Total Assets
(as of 02/15/2019)
$12.90 MM
Number of Holdings
(as of 02/15/2019)
894
Inception Date
July 11, 2017
Investment Style
Alternatively Weighted Strategy
Tracked Index
OFI Revenue Weighted Global Index
Bloomberg Index Ticker
M1CXOFI
Broad Benchmark
MSCI ACWI
Style Benchmark
MSCI ACWI Value Index
Reuters Bridge Ticker
RGLB.IV
ISIN
US68386C7653
CUSIP
68386C765
Closing Price
(as of 02/15/2019)
$25.79
Midpoint Price
(as of 02/15/2019)
$25.81
Premium/Discount
(as of 02/15/2019)
0.37%
Premium/Discount Analysis
×
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 01/31/2019
  • C
as of 12/31/2018
  • C

Market Price
Market Price
Market Price
Market Price
  • C
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-12-31
1 yr since inception
Global Revenue ETF (NAV)
-6.46% -12.50% -12.09% -12.09% -1.17%
MSCI ACWI
-7.04% -12.75% -9.41% -9.41% 0.43%
MSCI ACWI Value Index
-7.16% -10.74% -10.79% -10.79% -1.50%
OFI Revenue Weighted Global Index
-6.37% -12.19% -11.80% -11.80% -0.90%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-12-31
1 yr since inception
Global Revenue ETF (Market Price)
-6.46% -12.25% -12.09% -12.09% -1.01%
MSCI ACWI
-7.04% -12.75% -9.41% -9.41% 0.43%
MSCI ACWI Value Index
-7.16% -10.74% -10.79% -10.79% -1.50%
OFI Revenue Weighted Global Index
-6.37% -12.19% -11.80% -11.80% -0.90%
Cumulative
Annualized
1 mo 3 mo ytd as of 2019-01-31
1 yr since inception
Global Revenue ETF (NAV)
8.09% 1.92% 8.09% -10.47% 3.95%
MSCI ACWI
7.90% 1.76% 7.90% -7.48% 5.43%
MSCI ACWI Value Index
7.30% 1.38% 7.30% -8.66% 3.14%
OFI Revenue Weighted Global Index
8.13% 2.25% 8.13% -10.07% 4.25%
Cumulative
Annualized
1 mo 3 mo ytd as of 2019-01-31
1 yr since inception
Global Revenue ETF (Market Price)
7.99% 2.25% 7.99% -10.79% 4.05%
MSCI ACWI
7.90% 1.76% 7.90% -7.48% 5.43%
MSCI ACWI Value Index
7.30% 1.38% 7.30% -8.66% 3.14%
OFI Revenue Weighted Global Index
8.13% 2.25% 8.13% -10.07% 4.25%
Expense Ratio: 0.43%

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.


Year Global Revenue ETF MSCI ACWI MSCI ACWI Value Index OFI Revenue Weighted Global Index
2018 -12.09% -9.41% -10.79% -11.80%

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.


Date Global Revenue ETF MSCI AC World Index MSCI ACWI
1/31/2018 0.00 0.00 0.00
2/1/2018 0.03 -0.07 -0.07
2/2/2018 -1.67 -1.87 -1.87
2/5/2018 -4.08 -4.77 -4.77
2/6/2018 -5.34 -5.28 -5.28
2/7/2018 -5.00 -5.22 -5.22
2/8/2018 -6.77 -7.53 -7.53
2/9/2018 -7.49 -7.49 -7.49
2/12/2018 -6.63 -6.39 -6.39
2/13/2018 -6.36 -6.09 -6.09
2/14/2018 -5.38 -4.87 -4.87
2/15/2018 -4.36 -3.68 -3.68
2/16/2018 -3.98 -3.42 -3.42
2/20/2018 -4.53 -3.93 -3.93
2/21/2018 -4.59 -4.09 -4.09
2/22/2018 -4.73 -4.21 -4.21
2/23/2018 -3.84 -3.11 -3.11
2/26/2018 -3.16 -2.31 -2.31
2/27/2018 -3.78 -3.14 -3.14
2/28/2018 -4.83 -4.20 -4.20
3/1/2018 -5.89 -5.33 -5.33
3/2/2018 -6.40 -5.43 -5.43
3/5/2018 -6.16 -4.82 -4.82
3/6/2018 -5.38 -4.19 -4.19
3/7/2018 -5.65 -4.30 -4.30
3/8/2018 -5.41 -3.85 -3.85
3/9/2018 -4.70 -2.77 -2.77
3/12/2018 -4.12 -2.43 -2.43
3/13/2018 -4.32 -2.79 -2.79
3/14/2018 -4.80 -3.23 -3.23
3/15/2018 -4.87 -3.29 -3.29
3/16/2018 -4.78 -3.28 -3.28
3/19/2018 -5.67 -4.31 -4.31
3/20/2018 -5.63 -4.23 -4.23
3/21/2018 -5.56 -4.29 -4.29
3/22/2018 -6.59 -5.85 -5.85
3/23/2018 -8.12 -7.53 -7.53
3/26/2018 -7.30 -6.13 -6.13
3/27/2018 -7.06 -6.64 -6.64
3/28/2018 -7.37 -7.10 -7.10
3/29/2018 -6.79 -6.32 -6.32
4/2/2018 -7.44 -7.39 -7.39
4/3/2018 -7.17 -6.97 -6.97
4/4/2018 -7.03 -6.61 -6.61
4/5/2018 -6.14 -5.72 -5.72
4/6/2018 -6.79 -6.86 -6.86
4/9/2018 -6.65 -6.50 -6.50
4/10/2018 -5.60 -5.22 -5.22
4/11/2018 -5.73 -5.52 -5.52
4/12/2018 -5.60 -5.16 -5.16
4/13/2018 -5.63 -5.30 -5.30
4/16/2018 -5.36 -4.92 -4.92
4/17/2018 -4.88 -4.24 -4.24
4/18/2018 -4.20 -3.84 -3.84
4/19/2018 -4.17 -4.06 -4.06
4/20/2018 -4.81 -4.85 -4.85
4/23/2018 -4.95 -5.05 -5.05
4/24/2018 -5.19 -5.70 -5.70
4/25/2018 -5.63 -6.02 -6.02
4/26/2018 -5.22 -5.34 -5.34
4/27/2018 -4.95 -5.07 -5.07
4/30/2018 -5.12 -5.36 -5.36
5/1/2018 -5.50 -5.48 -5.48
5/2/2018 -5.77 -5.87 -5.87
5/3/2018 -6.31 -6.19 -6.19
5/4/2018 -5.97 -5.47 -5.47
5/7/2018 -5.84 -5.13 -5.13
5/8/2018 -6.01 -5.17 -5.17
5/9/2018 -5.73 -4.56 -4.56
5/10/2018 -5.15 -3.85 -3.85
5/11/2018 -4.47 -3.41 -3.41
5/14/2018 -4.13 -3.19 -3.19
5/15/2018 -4.85 -4.01 -4.01
5/16/2018 -4.88 -3.83 -3.83
5/17/2018 -4.75 -3.81 -3.81
5/18/2018 -4.98 -4.05 -4.05
5/21/2018 -4.78 -3.65 -3.65
5/22/2018 -4.64 -3.66 -3.66
5/23/2018 -5.43 -3.98 -3.98
5/24/2018 -5.80 -4.16 -4.16
5/25/2018 -6.24 -4.41 -4.41
5/29/2018 -7.51 -5.60 -5.60
5/30/2018 -7.20 -5.03 -5.03
5/31/2018 -7.37 -5.24 -5.24
6/1/2018 -6.82 -4.49 -4.49
6/4/2018 -5.97 -3.81 -3.81
6/5/2018 -6.24 -3.93 -3.93
6/6/2018 -5.56 -3.17 -3.17
6/7/2018 -5.22 -3.12 -3.12
6/8/2018 -5.67 -3.26 -3.26
6/11/2018 -5.26 -2.96 -2.96
6/12/2018 -5.32 -2.90 -2.90
6/13/2018 -5.46 -3.15 -3.15
6/14/2018 -5.63 -3.16 -3.16
6/15/2018 -6.21 -3.59 -3.59
6/18/2018 -6.82 -4.00 -4.00
6/19/2018 -7.70 -4.78 -4.78
6/20/2018 -7.46 -4.44 -4.44
6/21/2018 -8.08 -5.04 -5.04
6/22/2018 -7.53 -4.60 -4.60
6/25/2018 -8.60 -5.92 -5.92
6/26/2018 -8.70 -5.84 -5.84
6/27/2018 -9.18 -6.47 -6.47
6/28/2018 -9.60 -6.37 -6.37
6/29/2018 -8.91 -5.75 -5.75
7/2/2018 -9.70 -6.14 -6.14
7/3/2018 -9.53 -6.16 -6.16
7/5/2018 -9.01 -5.60 -5.60
7/6/2018 -8.43 -4.84 -4.84
7/9/2018 -7.60 -3.96 -3.96
7/10/2018 -7.43 -3.76 -3.76
7/11/2018 -8.46 -4.62 -4.62
7/12/2018 -8.25 -4.01 -4.01
7/13/2018 -7.94 -3.81 -3.81
7/16/2018 -8.05 -3.93 -3.93
7/17/2018 -7.88 -3.71 -3.71
7/18/2018 -7.74 -3.57 -3.57
7/19/2018 -8.05 -3.94 -3.94
7/20/2018 -7.77 -3.67 -3.67
7/23/2018 -7.70 -3.66 -3.66
7/24/2018 -7.08 -3.08 -3.08
7/25/2018 -6.91 -2.57 -2.57
7/26/2018 -6.46 -2.55 -2.55
7/27/2018 -6.26 -2.75 -2.75
7/30/2018 -6.16 -3.08 -3.08
7/31/2018 -6.16 -2.91 -2.91
8/1/2018 -6.43 -3.06 -3.06
8/2/2018 -7.12 -3.32 -3.32
8/3/2018 -6.71 -2.94 -2.94
8/6/2018 -6.74 -2.88 -2.88
8/7/2018 -6.09 -2.41 -2.41
8/8/2018 -6.19 -2.44 -2.44
8/9/2018 -6.43 -2.51 -2.51
8/10/2018 -7.67 -3.61 -3.61
8/13/2018 -8.53 -4.30 -4.30
8/14/2018 -8.08 -3.91 -3.91
8/15/2018 -9.08 -4.95 -4.95
8/16/2018 -8.46 -4.34 -4.34
8/17/2018 -8.15 -4.04 -4.04
8/20/2018 -7.70 -3.63 -3.63
8/21/2018 -7.26 -3.26 -3.26
8/22/2018 -6.98 -3.02 -3.02
8/23/2018 -7.36 -3.31 -3.31
8/24/2018 -6.98 -2.79 -2.79
8/27/2018 -6.05 -1.86 -1.86
8/28/2018 -5.88 -1.74 -1.74
8/29/2018 -5.81 -1.40 -1.40
8/30/2018 -6.33 -1.89 -1.89
8/31/2018 -6.67 -2.15 -2.15
9/4/2018 -7.46 -2.81 -2.81
9/5/2018 -7.94 -3.40 -3.40
9/6/2018 -8.15 -3.76 -3.76
9/7/2018 -8.32 -3.96 -3.96
9/10/2018 -8.25 -3.88 -3.88
9/11/2018 -8.36 -3.75 -3.75
9/12/2018 -8.05 -3.54 -3.54
9/13/2018 -7.53 -2.99 -2.99
9/14/2018 -7.05 -2.71 -2.71
9/17/2018 -7.12 -3.08 -3.08
9/18/2018 -6.46 -2.57 -2.57
9/19/2018 -5.91 -2.23 -2.23
9/20/2018 -5.26 -1.45 -1.45
9/21/2018 -4.61 -1.12 -1.12
9/24/2018 -5.05 -1.49 -1.49
9/25/2018 -5.03 -1.45 -1.45
9/26/2018 -5.03 -1.55 -1.55
9/27/2018 -5.06 -1.50 -1.50
9/28/2018 -5.34 -1.72 -1.72
10/1/2018 -5.41 -1.57 -1.57
10/2/2018 -5.62 -1.88 -1.88
10/3/2018 -5.62 -1.86 -1.86
10/4/2018 -6.38 -2.83 -2.83
10/5/2018 -7.07 -3.49 -3.49
10/8/2018 -7.28 -3.86 -3.86
10/9/2018 -7.63 -4.07 -4.07
10/10/2018 -8.70 -6.13 -6.13
10/11/2018 -10.96 -8.21 -8.21
10/12/2018 -10.33 -7.20 -7.20
10/15/2018 -10.54 -7.62 -7.62
10/16/2018 -9.36 -6.04 -6.04
10/17/2018 -9.50 -6.12 -6.12
10/18/2018 -10.37 -7.25 -7.25
10/19/2018 -10.57 -7.32 -7.32
10/22/2018 -10.85 -7.56 -7.56
10/23/2018 -12.03 -8.57 -8.57
10/24/2018 -13.35 -10.46 -10.46
10/25/2018 -13.17 -9.80 -9.80
10/26/2018 -13.83 -10.87 -10.87
10/29/2018 -13.80 -11.17 -11.17
10/30/2018 -13.14 -10.28 -10.28
10/31/2018 -12.17 -9.08 -9.08
11/1/2018 -11.47 -8.16 -8.16
11/2/2018 -10.99 -8.06 -8.06
11/5/2018 -10.92 -7.95 -7.95
11/6/2018 -10.61 -7.55 -7.55
11/7/2018 -9.71 -6.13 -6.13
11/8/2018 -9.67 -6.23 -6.23
11/9/2018 -10.57 -7.18 -7.18
11/12/2018 -11.61 -8.65 -8.65
11/13/2018 -11.82 -8.74 -8.74
11/14/2018 -12.06 -9.16 -9.16
11/15/2018 -11.89 -8.56 -8.56
11/16/2018 -11.58 -8.28 -8.28
11/19/2018 -11.79 -9.14 -9.14
11/20/2018 -13.17 -10.61 -10.61
11/21/2018 -12.93 -10.27 -10.27
11/23/2018 -13.45 -10.71 -10.71
11/26/2018 -12.65 -9.66 -9.66
11/27/2018 -12.58 -9.58 -9.58
11/28/2018 -11.79 -8.27 -8.27
11/29/2018 -11.34 -7.99 -7.99
11/30/2018 -11.44 -7.75 -7.75
12/3/2018 -10.16 -6.51 -6.51
12/4/2018 -11.75 -8.52 -8.52
12/6/2018 -13.69 -9.93 -9.93
12/7/2018 -14.18 -10.92 -10.92
12/10/2018 -15.39 -11.61 -11.61
12/11/2018 -15.42 -11.52 -11.52
12/12/2018 -14.21 -10.52 -10.52
12/13/2018 -14.11 -10.50 -10.50
12/14/2018 -15.22 -11.91 -11.91
12/17/2018 -15.94 -13.08 -13.08
12/18/2018 -16.39 -13.37 -13.37
12/19/2018 -16.50 -13.94 -13.94
12/20/2018 -17.78 -15.22 -15.22
12/21/2018 -18.61 -16.36 -16.36
12/24/2018 -19.41 -17.69 -17.69
12/26/2018 -18.74 -15.79 -15.79
12/27/2018 -18.29 -15.27 -15.27
12/28/2018 -17.66 -14.82 -14.82
12/31/2018 -17.17 -14.25 -14.25
1/2/2019 -17.42 -14.47 -14.47
1/3/2019 -17.94 -15.65 -15.65
1/4/2019 -16.26 -13.44 -13.44
1/7/2019 -15.29 -12.68 -12.68
1/8/2019 -14.90 -12.06 -12.06
1/9/2019 -13.96 -11.23 -11.23
1/10/2019 -13.68 -10.91 -10.91
1/11/2019 -13.65 -10.90 -10.90
1/14/2019 -13.89 -11.35 -11.35
1/15/2019 -13.47 -10.60 -10.60
1/16/2019 -13.30 -10.44 -10.44
1/17/2019 -13.19 -10.07 -10.07
1/18/2019 -12.08 -8.96 -8.96
1/22/2019 -12.88 -9.92 -9.92
1/23/2019 -12.81 -9.85 -9.85
1/24/2019 -12.53 -9.64 -9.64
1/25/2019 -11.55 -8.76 -8.76
1/28/2019 -12.01 -9.31 -9.31
1/29/2019 -11.90 -9.28 -9.28
1/30/2019 -11.34 -8.34 -8.34
1/31/2019 -10.47 -7.48 -7.48

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.

$ per share as of 02/15/2019

Date 2014 2015 2016 2017 2018
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 Holdings

(13.3% of assets as of 02/15/2019)

×

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Country Global Revenue ETF MSCI AC World Index Overweight / Underweight
United States 34.3% 55.2% -20.9%
Japan 13.6% 7.3% 6.3%
China 6.0% 3.6% 2.3%
United Kingdom 5.9% 5.1% 0.8%
France 5.3% 3.3% 2.0%
Germany 5.2% 2.6% 2.6%
South Korea 4.5% 1.6% 2.9%
Canada 2.8% 3.1% -0.3%
Italy 2.0% 0.7% 1.3%
Taiwan 1.9% 1.3% 0.6%
India 1.7% 1.0% 0.7%
Switzerland 1.7% 2.7% -1.0%
Brazil 1.6% 0.9% 0.7%
Russia 1.5% 0.4% 1.1%
Spain 1.5% 0.9% 0.6%
Australia 1.4% 2.1% -0.7%
Netherlands 1.1% 1.1% 0.0%
Hong Kong 0.9% 1.2% -0.3%
Thailand 0.7% 0.3% 0.4%
Sweden 0.6% 0.8% -0.2%
Developed Markets Global Revenue ETF MSCI AC World Index Overweight / Underweight
Americas 37.1% 58.3% -21.2%
Europe 25.2% 18.9% 6.3%
Asia Pacific 16.3% 11.1% 5.2%
Net Cash and Equivalents 0.2% - -
Middle East 0.1% 0.2% 0.0%
Emerging Markets Global Revenue ETF MSCI AC World Index Overweight / Underweight
Asia Pacific 15.5% 8.4% 7.0%
Americas 2.7% 1.5% 1.2%
Europe 2.2% 0.7% 1.5%
Africa 0.5% 0.7% -0.2%
Net Cash and Equivalents 0.2% - -
Middle East 0.2% 0.2% 0.0%
Equity Sector Global Revenue ETF MSCI AC World Index Overweight / Underweight
Financials 16.3% 17.1% -0.8%
Industrials 14.0% 10.6% 3.4%
Consumer Discretionary 14.0% 10.4% 3.6%
Consumer Staples 10.5% 8.2% 2.3%
Energy 10.4% 6.3% 4.0%
Information Technology 8.6% 15.3% -6.7%
Health Care 6.9% 11.9% -4.9%
Materials 6.3% 4.9% 1.4%
Communication Services 6.2% 8.9% -2.8%
Utilities 4.4% 3.2% 1.2%
Real Estate 2.0% 3.2% -1.2%
Net Cash and Equivalents 0.2% - -
Industry Global Revenue ETF MSCI AC World Index Overweight / Underweight
Oil Gas & Consumable Fuels 10.0% 6.0% 4.0%
Banks 7.6% 9.2% -1.7%
Automobiles 6.1% 1.5% 4.6%
Insurance 5.6% 3.8% 1.8%
Food & Staples Retailing 5.6% 1.6% 4.0%
Health Care Providers & Services 4.3% 1.9% 2.4%
Technology Hardware Storage & Peripherals 3.2% 2.9% 0.3%
Food Products 2.9% 1.9% 1.0%
Metals & Mining 2.9% 1.7% 1.2%
Industrial Conglomerates 2.6% 1.4% 1.2%
Diversified Telecommunication Services 2.6% 1.9% 0.7%
Electric Utilities 2.3% 1.8% 0.5%
Chemicals 2.2% 2.5% -0.2%
Aerospace & Defense 2.0% 2.0% 0.1%
Machinery 1.9% 1.7% 0.2%
Pharmaceuticals 1.8% 5.3% -3.5%
IT Services 1.7% 3.2% -1.5%
Wireless Telecommunication Services 1.6% 1.0% 0.6%
Construction & Engineering 1.6% 0.4% 1.2%
Trading Companies & Distributors 1.5% 0.5% 1.0%
Asset Allocation Global Revenue ETF MSCI AC World Index Overweight / Underweight
Equity 99.5% 100.0% -0.5%
Net Cash and Equivalents 0.2% - -
Analytics
(As of 01/31/2019)

Yields
Standardized Yield
2.33%
Portfolio Characteristics
Fund
Broad Benchmark
Average Market Cap (weighted)
$78.41 B
$138.18 B
Median Market Cap (weighted)
$30.32 B
$52.79 B
P/E Ratio (LTM)
12.10
15.97
P/E Ratio (NTM)
10.70
14.16
Price/Book
1.46
2.32
Price/Sales Ratio
0.53
1.52
Price/Cash Flow Ratio
6.67%
10.43%
Turnover Ratio
64.33%
-
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
12/28/2018
Per Share ($)
$0.1726
12-Month Distribution ($)
$0.6668
Distribution Sources
  • D
Net Income
78.10%
Net Profit from Sale
0.00%
Other Capital Sources
21.90%
Documents
  1. 1. This is a new fund with a limited operating history and an inception date of 7/11/17.
  2. 2. The OFI Revenue Weighted Global Index is a custom index that is owned and calculated by MSCI, is based on the MSCI ACWI Index and aims to reflect the performance of Oppenheimer Global Revenue ETF.
  3. 3. Access historical premium/discount information
  4. 4. An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. 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. Eurozone investments may be subject to volatility and liquidity issues. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk. 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, the Fund may experience portfolio turnover in excess of 100%. The greater the portfolio turnover, the greater the transaction costs to the Fund, which could have an adverse effect on the Fund’s performance.
  5. 5. The Closing Price is the price of the last reported trade on the Fund's primary exchange.
  6. 6. The MSCI® ACWI is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The index is unmanaged, includes the reinvestment of dividends and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  7. 7. Holdings are subject to change, and are dollar weighted based on total net assets.
  8. 8. Negative net cash may be the result of a variety of factors including, but not limited to, (1) pending receivables or (2) amounts owed to the fund due to balancing amounts with respect to purchases and redemptions of creation units, but is not the result of the use of leverage.
  9. 9. Standardized yield 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).
  10. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  11. 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.
  12. 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. 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.
  13. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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