Source: Morningstar, Inc. Alpha measures the difference between a fund's actual returns and its expected performance, given its level of risk. A positive alpha figure indicates the fund has performed better than its beta would predict. Beta measures a fund's sensitivity to market movements. A fund with a 1.10 beta is expected to perform 10% better than the market in up markets and 10% worse in down markets. R-squared measures how closely a fund's performance correlates with the performance of a benchmark index. An R-squared of 100 means that a fund's performance is perfectly correlated with the benchmark index. Standard deviation measures performance fluctuation — generally the higher the standard deviation, the greater the expected volatility of returns. These measures of past risk are not completely or necessarily representative of future risk and cannot predict a fund’s performance. All data is based on the 3-year period and is calculated using the Barclays Capital Govt/Credit Index. The Barclays Capital Government/ Credit Bond Index is an unmanaged index that measures the performance of U.S. government bonds, U.S. corporate bonds and Yankee bonds.
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets. All Funds (with the exception of the Money Market Fund) exclude cash and cash equivalent securities from Top holdings and Top issuers With regard to the Asset Mix table to the right: The percentages disclosed in the Asset Mix table are based on the Fund's total investments.
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets. All Funds (with the exception of the Money Market Fund) exclude cash and cash equivalent securities from Top Sectors.
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets. All Funds (with the exception of the Money Market Fund) exclude cash and cash equivalent securities from Top Industries.
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets. Quality Breakdown table includes fixed income and preferred securities and excludes all other equities, cash and cash equivalent securities. Source: Ratings based on Standard and Poor's, or Moody's, as applicable. AAA (highest rating) — extremely strong financial security characteristics AA — very strong financial security characteristics A — more susceptible to adverse effects than higher-rated categories BBB — adequate protection parameters, however, adverse conditions may weaken the obligor’s ability to meet its financial obligation BB, B and below B ratings are regarded as having significant speculative characteristics. While such obligations will likely have some quality and protective characteristics, they may be outweighed by large uncertainties or major exposures to adverse conditions.