Past performance is not indicative of future results. Investment returns and the principal value of an investment will fluctuate, meaning that an investor’s shares may be worth more or less than their original cost upon redemption or sale. Current performance may differ from the figures quoted. All returns assume that all capital gain and dividend distributions are reinvested. Please select the fund tile to view performance data current to the most recent month-end and the most recent quarter-end.
To access further details regarding the fund(s), including standardized average annual total returns as of the most recent month-end and calendar quarter, as well as Morningstar time period ratings, please select the fund tile. The Morningstar Rating for funds, often called the “star rating,” is determined for managed products—such as mutual funds, exchange-traded funds, closed-end funds, variable annuity and variable life subaccounts, and separate accounts—that possess at least a three-year track record. For comparison, open-ended mutual funds and exchange-traded funds are treated as a single population. This rating is based on a Morningstar Risk-Adjusted Return metric (excluding sales charges) that accounts for monthly excess performance variation, rewarding consistency while emphasizing downward volatility. The top 10% of products in a category earn 5 stars, the next 22.5% receive 4 stars, the next 35% get 3 stars, the next 22.5% receive 2 stars, and the bottom 10% are awarded 1 star. The Overall Morningstar Rating for a managed product is calculated using a weighted average of performance figures from its three-, five-, and 10-year periods. Specifically, it uses a 100% three-year rating for 36-59 months of total returns, a 60% five-year/40% three-year rating for 60-119 months of total returns, and a 50% 10-year/30% five-year/20% three-year rating for 120 or more months of total returns. Although the 10-year formula appears to prioritize the 10-year period, the most recent three-year window actually exerts the greatest influence because it is a component of all three rating periods.
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