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s based on a Morningstar risk adjusted return measure that accounts for
rges, loads, and redemption fees), placing more emphasis on downward
hly. The top 10% of funds in an investment category receive 5 stars, the next 22.5%
he bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived
10- year (if applicable) Morningstar Ratings. A fund’s total-return percentile rank is
(or most favorable) percentile rank is 1 and the lowest (or least favorable)
rank of 1. The percentile rank by category figures allow for a direct comparison of a
) is proprietary to Morningstar and/or its content providers; (2) may not be copied
Morningstar nor its content providers are responsible for any damages or losses
ect of up front sales charges since any sales charges are waived for contributions
00. A beta of 1.10 shows that the fund’s excess return is expected to be 10%
rket. A beta of .85 indicates that the fund’s excess return is expected to perform
ng down markets.
how widely the returns varied over a certain period of time. When a fund has a high
und and that of the index. The higher the R- squared, the more related the fund’s
return of the fund (total return-risk free rate) divided by the risk of the fund
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