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Definitions & Disclosures 6/30/2021
Peer Ranking
Overview
The following pages contain fund information including a peer return rank. These ranks are all owned and calculated by MPI Stylus. It is based on a one, three and 5 year annualized period. The
peer return rank is designed to provide a rank of performance returns for each fund among its peer group universe.
Category
The category for each fund is identified below the fund name and represented in the Morningstar Median reference. The categories are Morningstar categories.
Methodology
MPI ranks each fund based on average annual total returns assuming reinvestment of dividends and capital gains, distributions, at net asset value and the deduction of all fund expenses. Each fund
is ranked within a universe of funds similar in portfolio characteristics and capitalizations as defined by Morningstar Inc. Rankings do not include the effect of the fund's sales charges. Results would
have been less favorable had sales charges been included. A high ranking does not necessarily imply that a fund achieved positive results for the period. Excess returns do not necessarily imply
positive results. Past performance is no guarantee of future results.
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The quartile rank graphs illustrate which quartile the fund is in relative to the assigned peer group. Beginning from the top the first band represents the 5-25 percentile, the second is the 25 -50 ,
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the 3 band is the 50 -75 , and the final is the 75 -95 . The top and bottom 5% of funds are removed from the peer bands for reporting purposes only (but not the calculation) as they are considered
outliers. For performance, the highest performing funds would be in the top quartile. For both the expense ratio and risk ranks the funds with the lowest values would appear on the top quartile. If a
fund has a rank of 95, it can be seen as if there are 95% other funds that are superior to it for the specified analytic.
Universe
MPI uses the Morningstar categories to calculate the rank however performs two additional filters on the Morningstar category universe. The first filter is the "distinct portfolios” filter which does not
count each share class of a fund, but will only count each fund one time using the primary share class. The second filter that MPI performs is to exclude funds with performance history of less than
3 years as they believe there is not sufficient or adequate information to rely on to provide an appropriate rank for funds with less than three years of history. The number of funds in each category
for each rank is provided on the following pages under each fund name.
Investors should consider a portfolio’s investment objectives, risks, charges and expenses carefully before investing. The prospectus or offering document contains this and other
information about a portfolio. To obtain a free prospectus for any of the portfolios discussed, please contact your financial professional. Please read the prospectus or offering
document carefully before investing.
All ranking data is as of June 30, 2021.
Past performance is no guarantee of future results. Rankings provided based on total returns. Performance quoted for mutual funds may include performance of a predecessor
fund/share class prior to the share class commencement of operations.
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