|
Class
A
Shares
Ticker |
Class
C
Shares
Ticker |
Class
S
Shares
Ticker |
Class
I
Shares
Ticker |
Class
N
Shares
Ticker |
Class
R
Shares
Ticker |
Class
T
Shares
Ticker |
Fixed
Income |
|
|
|
|
|
|
|
Janus
Henderson Absolute Return Income Opportunities Fund |
JUCAX |
JUCCX |
JUCSX |
JUCIX |
JUCNX |
JUCRX |
JUCTX |
Janus
Henderson Developed World Bond Fund |
HFAAX |
HFACX |
HFASX |
HFAIX |
HFARX |
N/A |
HFATX |
Janus
Henderson Flexible Bond Fund |
JDFAX |
JFICX |
JADFX |
JFLEX |
JDFNX |
JDFRX |
JAFIX |
Janus
Henderson Global Bond Fund |
JGBAX |
JGBCX |
JGBSX |
JGBIX |
JGLNX |
N/A |
JHBTX |
Janus
Henderson High-Yield Fund |
JHYAX |
JDHCX |
JDHYX |
JHYFX |
JHYNX |
JHYRX |
JAHYX |
Janus
Henderson Multi-Sector Income Fund |
JMUAX |
JMUCX |
JMUSX |
JMUIX |
JMTNX |
N/A |
JMUTX |
Janus
Henderson Short Duration Flexible Bond Fund |
JSHAX |
JSHCX |
JSHSX |
JSHIX |
JSHNX |
N/A |
JASBX |
Ticker: |
JUCAX |
Class
A Shares |
JUCSX |
Class
S Shares |
JUCNX |
Class
N Shares |
JUCTX |
Class
T Shares |
|
JUCCX |
Class
C Shares |
JUCIX |
Class
I Shares |
JUCRX |
Class
R Shares |
|
|
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a percentage of
offering
price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of the lower of
original
purchase price or redemption proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Management
Fees |
|
0.65% |
|
0.65% |
|
0.65% |
|
0.65% |
|
0.65% |
|
0.65% |
|
0.65% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
0.50% |
|
None |
Other
Expenses |
|
0.45% |
|
0.48% |
|
2.20% |
|
0.44% |
|
0.65% |
|
1.20% |
|
0.64% |
Total
Annual Fund Operating Expenses |
|
1.35% |
|
2.13% |
|
3.10% |
|
1.09% |
|
1.30% |
|
2.35% |
|
1.29% |
Fee
Waiver(1) |
|
0.40% |
|
0.42% |
|
1.96% |
|
0.39% |
|
0.67% |
|
0.97% |
|
0.41% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.95% |
|
1.71% |
|
1.14% |
|
0.70% |
|
0.63% |
|
1.38% |
|
0.88% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
$ |
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
$ |
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
$ |
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
$ |
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
$ |
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
$ |
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Class I Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
1
Year |
5
Years |
Since
Inception
(5/27/14) |
Class
I Shares |
|
|
|
Return
Before Taxes |
– 0.43% |
0.97% |
1.08% |
Return
After Taxes on Distributions |
– 1.02% |
– 0.03% |
0.08% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
– 0.25% |
0.32% |
0.39% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Class
A Shares |
|
|
|
Return
Before Taxes(2) |
– 5.36% |
– 0.23% |
0.19% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Class
C Shares |
|
|
|
Return
Before Taxes(3) |
– 2.37% |
0.02% |
0.11% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Class
S Shares |
|
|
|
Return
Before Taxes |
– 0.85% |
0.52% |
0.63% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Class
N Shares |
|
|
|
Return
Before Taxes |
– 0.40% |
1.04% |
1.12% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Class
R Shares |
|
|
|
Return
Before Taxes |
– 1.10% |
0.30% |
0.40% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77%
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
1
Year |
5
Years |
Since
Inception
(5/27/14) |
Class
T Shares |
|
|
|
Return
Before Taxes |
– 0.59% |
0.81% |
0.89% |
FTSE
3-Month U.S. Treasury Bill Index
(reflects
no deduction for expenses, fees, or taxes) |
0.05% |
1.11% |
0.77% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, Class R Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
HFAAX |
Class
A Shares |
HFASX |
Class
S Shares |
HFARX |
Class
N Shares |
|
HFACX |
Class
C Shares |
HFAIX |
Class
I Shares |
HFATX |
Class
T Shares |
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a percentage of offering
price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of the lower of original
purchase
price or redemption proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Management
Fees |
|
0.50% |
|
0.50% |
|
0.50% |
|
0.50% |
|
0.50% |
|
0.50% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
None |
Other
Expenses |
|
0.18% |
|
0.12% |
|
0.78% |
|
0.14% |
|
0.05% |
|
0.29% |
Total
Annual Fund Operating Expenses |
|
0.93% |
|
1.62% |
|
1.53% |
|
0.64% |
|
0.55% |
|
0.79% |
Fee
Waiver(1) |
|
0.11% |
|
0.05% |
|
0.46% |
|
0.07% |
|
0.00% |
|
0.00% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.82% |
|
1.57% |
|
1.07% |
|
0.57% |
|
0.55% |
|
0.79% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
|
|
|
Annual
Total Returns for Class A Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/30/03) |
Class
A Shares(1) |
|
|
|
|
Return
Before Taxes |
– 5.47% |
3.70% |
4.89% |
4.78% |
Return
After Taxes on Distributions |
– 5.98% |
2.44% |
3.41% |
3.08% |
Return
After Taxes on Distributions and Sale of Fund Shares(2) |
– 3.24% |
2.30% |
3.14% |
3.01% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Class
C Shares |
|
|
|
|
Return
Before Taxes(3) |
– 2.49% |
3.93% |
4.62% |
4.25% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Class
S Shares |
|
|
|
|
Return
Before Taxes |
– 0.98% |
4.55% |
5.28% |
4.99% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Class
I Shares |
|
|
|
|
Return
Before Taxes |
– 0.63% |
4.95% |
5.66% |
5.20% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Class
N Shares |
|
|
|
|
Return
Before Taxes |
– 0.50% |
5.02% |
5.59% |
5.16% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Class
T Shares |
|
|
|
|
Return
Before Taxes |
– 0.74% |
4.78% |
5.44% |
5.07% |
Bloomberg
Global Aggregate Credit Index (USD Hedged)
(reflects
no deduction for expenses, fees, or taxes) |
– 0.95% |
4.60% |
4.55% |
4.63% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
JDFAX |
Class
A Shares |
JADFX |
Class
S Shares |
JDFNX |
Class
N Shares |
JAFIX |
Class
T Shares |
|
JFICX |
Class
C Shares |
JFLEX |
Class
I Shares |
JDFRX |
Class
R Shares |
|
|
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a
percentage
of offering price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of
the
lower of original purchase price or redemption
proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Management
Fees |
|
0.41% |
|
0.41% |
|
0.41% |
|
0.41% |
|
0.41% |
|
0.41% |
|
0.41% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
0.50% |
|
None |
Other
Expenses |
|
0.19% |
|
0.10% |
|
0.29% |
|
0.10% |
|
0.02% |
|
0.28% |
|
0.27% |
Total
Annual Fund Operating Expenses |
|
0.85% |
|
1.51% |
|
0.95% |
|
0.51% |
|
0.43% |
|
1.19% |
|
0.68% |
Fee
Waiver(1) |
|
0.15% |
|
0.06% |
|
0.00% |
|
0.06% |
|
0.00% |
|
0.00% |
|
0.00% |
Total
Annual Fund Operating Expenses After Fee Waiver(1)
|
|
0.70% |
|
1.45% |
|
0.95% |
|
0.45% |
|
0.43% |
|
1.19% |
|
0.68% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
|
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
|
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Class T Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(7/7/87) |
Class
T Shares |
|
|
|
|
Return
Before Taxes |
– 0.96% |
4.21% |
3.58% |
6.37% |
Return
After Taxes on Distributions |
– 1.71% |
3.10% |
2.35% |
4.17% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
– 0.56% |
2.74% |
2.23% |
4.09% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Class
A Shares |
|
|
|
|
Return
Before Taxes(2) |
– 5.74% |
2.98% |
2.92% |
6.17% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03%
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(7/7/87) |
Class
C Shares |
|
|
|
|
Return
Before Taxes(3) |
– 2.70% |
3.35% |
2.72% |
5.64% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Class
S Shares |
|
|
|
|
Return
Before Taxes |
– 1.22% |
3.91% |
3.30% |
6.18% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Class
I Shares |
|
|
|
|
Return
Before Taxes |
– 0.78% |
4.36% |
3.73% |
6.43% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Class
N Shares |
|
|
|
|
Return
Before Taxes |
– 0.72% |
4.44% |
3.81% |
6.44% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Class
R Shares |
|
|
|
|
Return
Before Taxes |
– 1.46% |
3.66% |
3.06% |
5.93% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
2.90% |
6.03% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, Class R Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
JGBAX |
Class
A Shares |
JGBSX |
Class
S Shares |
JGLNX |
Class
N Shares |
|
|
|
JGBCX |
Class
C Shares |
JGBIX |
Class
I Shares |
JHBTX |
Class
T Shares |
|
|
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a percentage of
offering
price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of the lower of
original
purchase price or redemption proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Management
Fees |
|
0.60% |
|
0.60% |
|
0.60% |
|
0.60% |
|
0.60% |
|
0.60% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
None |
Other
Expenses |
|
0.44% |
|
0.54% |
|
5.50% |
|
0.23% |
|
0.12% |
|
0.42% |
Total
Annual Fund Operating Expenses |
|
1.29% |
|
2.14% |
|
6.35% |
|
0.83% |
|
0.72% |
|
1.02% |
Fee
Waiver(1) |
|
0.33% |
|
0.45% |
|
5.23% |
|
0.13% |
|
0.13% |
|
0.18% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.96% |
|
1.69% |
|
1.12% |
|
0.70% |
|
0.59% |
|
0.84% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
$ |
$ |
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
$ |
$ |
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
$ |
$ |
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
$ |
$ |
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Class I Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(12/28/10) |
Class
I Shares |
|
|
|
|
Return
Before Taxes |
– 5.35% |
3.54% |
2.51% |
2.88% |
Return
After Taxes on Distributions |
– 6.27% |
2.89% |
1.58% |
1.91% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
– 3.11% |
2.48% |
1.55% |
1.84% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Class
A Shares |
|
|
|
|
Return
Before Taxes(2) |
– 10.11% |
2.28% |
1.76% |
2.18% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Class
C Shares |
|
|
|
|
Return
Before Taxes(3) |
– 7.29% |
2.50% |
1.49% |
1.87% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Class
S Shares |
|
|
|
|
Return
Before Taxes |
– 5.86% |
3.10% |
2.16% |
2.53% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Class
N Shares |
|
|
|
|
Return
Before Taxes |
– 5.35% |
3.62% |
2.54% |
2.87% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Class
T Shares |
|
|
|
|
Return
Before Taxes |
– 5.67% |
3.35% |
2.33% |
2.70% |
Bloomberg
Global Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 4.71% |
3.36% |
1.77% |
2.25% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
JHYAX |
Class
A Shares |
JDHYX |
Class
S Shares |
JHYNX |
Class
N Shares |
JAHYX |
Class
T Shares |
|
JDHCX |
Class
C Shares |
JHYFX |
Class
I Shares |
JHYRX |
Class
R Shares |
|
|
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a
percentage
of offering price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of
the
lower of original purchase price or redemption
proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
R |
|
Class
T |
Management
Fees |
|
0.58% |
|
0.58% |
|
0.58% |
|
0.58% |
|
0.58% |
|
0.58% |
|
0.58% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
0.50% |
|
None |
Other
Expenses |
|
0.15% |
|
0.15% |
|
0.45% |
|
0.14% |
|
0.05% |
|
0.33% |
|
0.29% |
Total
Annual Fund Operating Expenses |
|
0.98% |
|
1.73% |
|
1.28% |
|
0.72% |
|
0.63% |
|
1.41% |
|
0.87% |
Fee
Waiver(1) |
|
0.00% |
|
0.03% |
|
0.15% |
|
0.00% |
|
0.00% |
|
0.03% |
|
0.00% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.98% |
|
1.70% |
|
1.13% |
|
0.72% |
|
0.63% |
|
1.38% |
|
0.87% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
|
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
R Shares |
|
|
|
$ |
Class
T Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Class T Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(12/29/95) |
Class
T Shares |
|
|
|
|
Return
Before Taxes |
5.56% |
5.72% |
6.14% |
7.18% |
Return
After Taxes on Distributions |
3.62% |
3.45% |
3.56% |
4.16% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
3.28% |
3.36% |
3.59% |
4.25% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Class
A Shares |
|
|
|
|
Return
Before Taxes(2) |
0.60% |
4.56% |
5.48% |
6.89% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Class
C Shares |
|
|
|
|
Return
Before Taxes(3) |
3.71% |
4.86% |
5.27% |
6.34% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Class
S Shares |
|
|
|
|
Return
Before Taxes |
5.28% |
5.38% |
5.84% |
6.89% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Class
I Shares |
|
|
|
|
Return
Before Taxes |
5.72% |
5.86% |
6.30% |
7.25% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Class
N Shares |
|
|
|
|
Return
Before Taxes |
5.93% |
5.97% |
6.39% |
7.27% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04%
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(12/29/95) |
Class
R Shares |
|
|
|
|
Return
Before Taxes |
5.01% |
5.11% |
5.57% |
6.62% |
Bloomberg
U.S. Corporate High-Yield Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
5.28% |
6.30% |
6.83% |
7.04% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, Class R Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
JMUAX |
Class
A Shares |
JMUSX |
Class
S Shares |
JMTNX |
Class
N Shares |
|
JMUCX |
Class
C Shares |
JMUIX |
Class
I Shares |
JMUTX |
Class
T Shares |
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a percentage of
offering
price) |
|
4.75% |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of the lower of
original
purchase price or redemption proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Management
Fees |
|
0.56% |
|
0.56% |
|
0.56% |
|
0.56% |
|
0.56% |
|
0.56% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
None |
Other
Expenses |
|
0.09% |
|
0.12% |
|
0.64% |
|
0.13% |
|
0.03% |
|
0.28% |
Total
Annual Fund Operating Expenses |
|
0.90% |
|
1.68% |
|
1.45% |
|
0.69% |
|
0.59% |
|
0.84% |
Fee
Waiver(1) |
|
0.00% |
|
0.00% |
|
0.31% |
|
0.00% |
|
0.00% |
|
0.00% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.90% |
|
1.68% |
|
1.14% |
|
0.69% |
|
0.59% |
|
0.84% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
|
|
|
Annual
Total Returns for Class I Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
1
Year |
5
Years |
Since
Inception
(2/28/14) |
Class
I Shares |
|
|
|
Return
Before Taxes |
3.24% |
5.38% |
4.98% |
Return
After Taxes on Distributions |
1.53% |
3.32% |
2.85% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
1.95% |
3.22% |
2.85% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17% |
Class
A Shares |
|
|
|
Return
Before Taxes(2) |
– 1.86% |
4.11% |
4.07% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17%
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
1
Year |
5
Years |
Since
Inception
(2/28/14) |
Class
C Shares |
|
|
|
Return
Before Taxes(3) |
1.18% |
4.34% |
3.94% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17% |
Class
S Shares |
|
|
|
Return
Before Taxes |
2.85% |
5.12% |
4.67% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17% |
Class
N Shares |
|
|
|
Return
Before Taxes |
3.33% |
5.46% |
5.03% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17% |
Class
T Shares |
|
|
|
Return
Before Taxes |
3.09% |
5.23% |
4.79% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for expenses, fees, or taxes) |
– 1.54% |
3.57% |
3.17% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Ticker: |
JSHAX |
Class
A Shares |
JSHSX |
Class
S Shares |
JSHNX |
Class
N Shares |
|
JSHCX |
Class
C Shares |
JSHIX |
Class
I Shares |
JASBX |
Class
T Shares |
|
|
SHAREHOLDER
FEES
(fees
paid directly from your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Maximum
Sales Charge (load) Imposed on Purchases (as a percentage of
offering
price) |
|
2.50% |
|
None |
|
None |
|
None |
|
None |
|
None |
Maximum
Deferred Sales Charge (load) (as a percentage of the lower of
original
purchase price or redemption proceeds) |
|
None |
|
1.00% |
|
None |
|
None |
|
None |
|
None |
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value
of
your investment) |
|
Class
A |
|
Class
C |
|
Class
S |
|
Class
I |
|
Class
N |
|
Class
T |
Management
Fees |
|
0.44% |
|
0.44% |
|
0.44% |
|
0.44% |
|
0.44% |
|
0.44% |
Distribution/Service
(12b-1) Fees |
|
0.25% |
|
1.00% |
|
0.25% |
|
None |
|
None |
|
None |
Other
Expenses |
|
0.10% |
|
0.13% |
|
0.77% |
|
0.17% |
|
0.06% |
|
0.29% |
Total
Annual Fund Operating Expenses |
|
0.79% |
|
1.57% |
|
1.46% |
|
0.61% |
|
0.50% |
|
0.73% |
Fee
Waiver(1) |
|
0.09% |
|
0.12% |
|
0.56% |
|
0.16% |
|
0.11% |
|
0.09% |
Total
Annual Fund Operating Expenses After Fee Waiver(1) |
|
0.70% |
|
1.45% |
|
0.90% |
|
0.45% |
|
0.39% |
|
0.64% |
If
Shares are redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
If
Shares are not redeemed: |
1
Year |
3
Years |
5
Years |
10
Years |
Class
A Shares |
$ |
$ |
$ |
$ |
Class
C Shares |
|
|
|
$ |
Class
S Shares |
$ |
$ |
$ |
$ |
Class
I Shares |
$ |
|
|
$ |
Class
N Shares |
$ |
$ |
$ |
$ |
Class
T Shares |
$ |
|
|
$ |
|
|
|
Annual
Total Returns for Class T Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/21) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/1/92) |
Class
T Shares |
|
|
|
|
Return
Before Taxes |
– 0.22% |
2.08% |
1.74% |
3.64% |
Return
After Taxes on Distributions |
– 0.79% |
1.30% |
1.04% |
2.27% |
Return
After Taxes on Distributions and Sale of Fund Shares(1) |
– 0.13% |
1.26% |
1.04% |
2.25% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Class
A Shares |
|
|
|
|
Return
Before Taxes(2) |
– 2.48% |
1.50% |
1.43% |
3.20% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Class
C Shares |
|
|
|
|
Return
Before Taxes(3) |
– 1.91% |
1.24% |
0.92% |
2.67% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Class
S Shares |
|
|
|
|
Return
Before Taxes |
– 0.47% |
1.85% |
1.52% |
3.18% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Class
I Shares |
|
|
|
|
Return
Before Taxes |
0.24% |
2.23% |
1.91% |
3.59% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Class
N Shares |
|
|
|
|
Return
Before Taxes |
0.01% |
2.27% |
1.94% |
3.71% |
Bloomberg
1-3 Year U.S. Government/Credit Index
(reflects
no deduction for expenses, fees, or taxes) |
– 0.47% |
1.85% |
1.39% |
3.62% |
Management |
Purchase
and sale of Fund shares |
Class
A Shares, Class C Shares*,
Class S Shares, and Class T Shares |
|
Non-retirement
accounts |
$2,500** |
Certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500 |
Class
I Shares |
|
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Through
an intermediary institution |
|
• non-retirement
accounts |
$2,500† |
• certain
tax-advantaged accounts or UGMA/UTMA accounts |
$500† |
Class
N Shares |
|
Retirement
investors (investing through an adviser-assisted, employer-sponsored
retirement plan) |
None |
Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500*** |
Institutional
investors (investing directly with the Fund) |
$1,000,000 |
Tax
information |
Payments
to broker-dealers and other financial
intermediaries |
Fund
Name |
Average
Daily
Net
Assets
of
the Fund |
Contractual
Investment
Advisory
Fee (%)
(annual
rate) |
Actual
Investment
Advisory
Fee
Rate
(%) (for
the
fiscal year ended
June
30, 2022 |
Janus
Henderson Absolute Return Income Opportunities Fund |
First $1
Billion |
0.65 |
|
|
Next $2
Billion |
0.62 |
|
|
Over $3
Billion |
0.60 |
0.24(1) |
Janus
Henderson Developed World Bond Fund |
First $1
Billion |
0.55 |
|
|
Next $500
Million |
0.50 |
|
|
Over $1.5
Billion |
0.45 |
0.50(2) |
Janus
Henderson Flexible Bond Fund |
First $300
Million |
0.50 |
|
|
Over $300
Million |
0.40 |
0.41(2)
|
Janus
Henderson Global Bond Fund |
First $1
Billion |
0.60 |
|
|
Next $1
Billion |
0.55 |
|
|
Over $2
Billion |
0.50 |
0.47(1) |
Janus
Henderson High-Yield Fund |
First $300
Million |
0.65 |
|
|
Over $300
Million |
0.55 |
0.58(1)
|
Janus
Henderson Multi-Sector Income Fund |
First $200
Million |
0.60 |
|
|
Next $500
Million |
0.57 |
|
|
Over $700
Million |
0.55 |
0.56(1)
|
Janus
Henderson Short Duration Flexible Bond Fund |
All Asset
Levels |
0.44 |
0.36(1) |
Fund
Name |
Expense
Limit Percentage (%) |
Janus
Henderson Absolute Return Income Opportunities Fund |
0.63 |
Janus
Henderson Developed World Bond Fund |
0.57 |
Janus
Henderson Flexible Bond Fund |
0.45 |
Janus
Henderson Global Bond Fund |
0.59 |
Janus
Henderson High-Yield Fund |
0.63 |
Janus
Henderson Multi-Sector Income Fund |
0.64 |
Janus
Henderson Short Duration Flexible Bond Fund |
0.39 |
CLOSED
FUND POLICIES |
LIQUIDATION/REORGANIZATION
OF A FUND |
DISTRIBUTION
OF THE Funds |
Distributions |
TAXES |
Class
A Shares |
|
Initial
sales charge on purchases |
Up
to 4.75%(1)
|
• reduction
of initial sales charge for purchases of $50,000 or
more |
|
• initial
sales charge waived for purchases of $1 million or
more |
|
Deferred
sales charge (CDSC) |
None
except on certain redemptions of Shares
purchased
without an initial sales charge(1)
|
Administrative
fees |
Pays
administrative, networking or omnibus fees to
certain
intermediaries |
Minimum
initial investment |
$2,500(2)
|
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
0.25%
annual distribution/service fee |
Class
C Shares |
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
1.00%
on Shares redeemed within 12 months of
purchase(1)
|
Administrative
fees |
Pays
administrative, networking or omnibus fees to
certain
intermediaries |
Minimum
initial investment |
$2,500(2)
|
Maximum
purchase |
$500,000 |
Minimum
aggregate account balance |
None |
12b-1
fee |
1.00%
annual fee (up to 0.75% distribution fee and
up
to 0.25% shareholder servicing fee)
|
Class
S Shares |
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
None |
Administrative
services fees |
0.25% |
Minimum
initial investment |
$2,500(2)
|
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
0.25%
annual distribution/service fee |
Class
I Shares(4)
|
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
None |
Administrative
fees |
Pays
administrative, networking or omnibus fees to
certain
intermediaries(4)
|
Minimum
initial investment |
|
• institutional
investors (investing directly with a Fund) |
$1,000,000 |
• through
an intermediary institution |
$2,500(3)
|
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
None |
Class
N Shares(4)
|
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
None |
Administrative
fees |
None
to intermediaries(4)
|
Minimum
initial investment |
|
• Retirement
investors (investing through an adviser-assisted, employer-sponsored
plan) |
None |
• Retail
investors (investing through a financial intermediary omnibus
account) |
$2,500(5)
|
• Institutional
investors (investing directly with a Fund) |
$1,000,000 |
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
None |
Class
R Shares |
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
None |
Administrative
services fees |
0.25% |
Minimum
initial investment |
$2,500(2)
|
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
0.50%
annual distribution/service fee |
Class
T Shares |
|
Initial
sales charge on purchases |
None |
Deferred
sales charge (CDSC) |
None |
Administrative
services fees |
0.25% |
Minimum
initial investment |
$2,500(2)
|
Maximum
purchase |
None |
Minimum
aggregate account balance |
None |
12b-1
fee |
None |
Class |
12b-1
Fee for the Funds |
Class
A Shares |
0.25% |
Class
C Shares |
1.00%(1)
|
Class
S Shares |
0.25% |
Class
R Shares |
0.50% |
Amount
of Purchase at Offering Price |
Class
A Shares
Sales
Charge as a
Percentage
of
Offering
Price(1) |
Class
A Shares
Sales
Charge as a
Percentage
of
Net
Amount Invested |
Fixed-Income
Funds (except Janus Henderson Short Duration Flexible Bond
Fund) |
|
|
Under
$50,000 |
4.75% |
4.99% |
$50,000
but under $100,000 |
4.50% |
4.71% |
$100,000
but under $250,000 |
3.50% |
3.63% |
$250,000
but under $500,000 |
2.50% |
2.56% |
$500,000
but under $1,000,000 |
2.00% |
2.04% |
$1,000,000
and above |
None(2)
|
None |
Janus
Henderson Short Duration Flexible Bond Fund(3) |
|
|
Under
$50,000 |
2.50% |
2.56% |
$50,000
but under $100,000 |
2.25% |
2.30% |
$100,000
but under $250,000 |
2.00% |
2.04% |
$250,000
but under $500,000 |
1.50% |
1.52% |
$500,000
but under $1,000,000 |
1.00% |
1.01% |
$1,000,000
and above |
None(2)
|
None |
Availability
of Portfolio Holdings
Information |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.02 |
$9.01 |
$8.93 |
$8.88 |
$9.64 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.09 |
0.10 |
0.17 |
0.18 |
0.14 |
Net
realized and unrealized gain/(loss) |
(0.44) |
0.02 |
0.15 |
0.16 |
(0.70) |
Total
from Investment Operations |
(0.35) |
0.12 |
0.32 |
0.34 |
(0.56) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.11) |
(0.11) |
(0.24) |
(0.29) |
(0.20) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.11) |
(0.11) |
(0.24) |
(0.29) |
(0.20) |
Net
Asset Value, End of Period |
$8.56 |
$9.02 |
$9.01 |
$8.93 |
$8.88 |
Total
Return* |
(3.86)% |
1.38% |
3.64% |
3.85% |
(5.91)% |
Net
Assets, End of Period (in thousands) |
$9,312 |
$15,300 |
$16,158 |
$25,377 |
$62,043 |
Average
Net Assets for the Period (in thousands) |
$11,755 |
$16,811 |
$20,287 |
$42,125 |
$107,328 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.35% |
1.26% |
1.24% |
1.03% |
1.00% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.95% |
0.95% |
0.98% |
0.99% |
1.00% |
Ratio
of Net Investment Income/(Loss) |
1.06% |
1.16% |
1.87% |
2.01% |
1.43% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.01 |
$9.01 |
$8.92 |
$8.88 |
$9.63 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.03 |
0.04 |
0.10 |
0.11 |
0.07 |
Net
realized and unrealized gain/(loss) |
(0.43) |
0.01 |
0.17 |
0.15 |
(0.69) |
Total
from Investment Operations |
(0.40) |
0.05 |
0.27 |
0.26 |
(0.62) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.05) |
(0.05) |
(0.18) |
(0.22) |
(0.13) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.05) |
(0.05) |
(0.18) |
(0.22) |
(0.13) |
Net
Asset Value, End of Period |
$8.56 |
$9.01 |
$9.01 |
$8.92 |
$8.88 |
Total
Return* |
(4.48)% |
0.56% |
3.03% |
2.96% |
(6.49)% |
Net
Assets, End of Period (in thousands) |
$7,870 |
$8,407 |
$14,388 |
$18,983 |
$45,990 |
Average
Net Assets for the Period (in thousands) |
$7,519 |
$11,266 |
$15,398 |
$30,267 |
$58,477 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
2.12% |
1.96% |
1.96% |
1.81% |
1.72% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.70% |
1.64% |
1.68% |
1.76% |
1.72% |
Ratio
of Net Investment Income/(Loss) |
0.32% |
0.48% |
1.12% |
1.22% |
0.69% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.02 |
$9.02 |
$8.94 |
$8.89 |
$9.63 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.08 |
0.09 |
0.15 |
0.18 |
0.11 |
Net
realized and unrealized gain/(loss) |
(0.43) |
0.01 |
0.15 |
0.13 |
(0.69) |
Total
from Investment Operations |
(0.35) |
0.10 |
0.30 |
0.31 |
(0.58) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.10) |
(0.10) |
(0.22) |
(0.26) |
(0.16) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.10) |
(0.10) |
(0.22) |
(0.26) |
(0.16) |
Net
Asset Value, End of Period |
$8.57 |
$9.02 |
$9.02 |
$8.94 |
$8.89 |
Total
Return* |
(3.93)% |
1.08% |
3.44% |
3.58% |
(6.08)% |
Net
Assets, End of Period (in thousands) |
$178 |
$230 |
$153 |
$160 |
$1,500 |
Average
Net Assets for the Period (in thousands) |
$189 |
$182 |
$149 |
$1,251 |
$949 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
3.10% |
3.07% |
3.45% |
1.48% |
1.26% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.14% |
1.14% |
1.16% |
1.29% |
1.22% |
Ratio
of Net Investment Income/(Loss) |
0.88% |
0.96% |
1.62% |
1.97% |
1.17% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.00 |
$9.00 |
$8.92 |
$8.88 |
$9.64 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.12 |
0.13 |
0.19 |
0.23 |
0.16 |
Net
realized and unrealized gain/(loss) |
(0.42) |
0.01 |
0.15 |
0.12 |
(0.69) |
Total
from Investment Operations |
(0.30) |
0.14 |
0.34 |
0.35 |
(0.53) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.14) |
(0.14) |
(0.26) |
(0.31) |
(0.23) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.14) |
(0.14) |
(0.26) |
(0.31) |
(0.23) |
Net
Asset Value, End of Period |
$8.56 |
$9.00 |
$9.00 |
$8.92 |
$8.88 |
Total
Return* |
(3.42)% |
1.51% |
3.88% |
3.99% |
(5.67)% |
Net
Assets, End of Period (in thousands) |
$27,937 |
$33,808 |
$36,831 |
$57,628 |
$1,166,188 |
Average
Net Assets for the Period (in thousands) |
$28,887 |
$36,932 |
$43,004 |
$652,474 |
$1,704,727 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.09% |
1.01% |
1.00% |
0.76% |
0.75% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.71% |
0.71% |
0.73% |
0.74% |
0.75% |
Ratio
of Net Investment Income/(Loss) |
1.30% |
1.40% |
2.09% |
2.61% |
1.67% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.01 |
$9.01 |
$8.93 |
$8.89 |
$9.64 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.12 |
0.13 |
0.19 |
0.27 |
0.16 |
Net
realized and unrealized gain/(loss) |
(0.43) |
0.01 |
0.16 |
0.08 |
(0.68) |
Total
from Investment Operations |
(0.31) |
0.14 |
0.35 |
0.35 |
(0.52) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.14) |
(0.14) |
(0.27) |
(0.31) |
(0.23) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.14) |
(0.14) |
(0.27) |
(0.31) |
(0.23) |
Net
Asset Value, End of Period |
$8.56 |
$9.01 |
$9.01 |
$8.93 |
$8.89 |
Total
Return* |
(3.50)% |
1.58% |
3.94% |
4.00% |
(5.51)% |
Net
Assets, End of Period (in thousands) |
$604 |
$1,803 |
$2,534 |
$2,454 |
$78,752 |
Average
Net Assets for the Period (in thousands) |
$1,002 |
$2,330 |
$2,426 |
$7,437 |
$31,271 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.30% |
1.06% |
1.06% |
0.62% |
0.66% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.64% |
0.64% |
0.67% |
0.57% |
0.66% |
Ratio
of Net Investment Income/(Loss) |
1.35% |
1.47% |
2.10% |
2.79% |
1.80% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.02 |
$9.02 |
$8.94 |
$8.89 |
$9.64 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.06 |
0.07 |
0.13 |
0.11 |
0.09 |
Net
realized and unrealized gain/(loss) |
(0.43) |
—(2) |
0.15 |
0.18 |
(0.69) |
Total
from Investment Operations |
(0.37) |
0.07 |
0.28 |
0.29 |
(0.60) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.08) |
(0.07) |
(0.20) |
(0.24) |
(0.15) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.08) |
(0.07) |
(0.20) |
(0.24) |
(0.15) |
Net
Asset Value, End of Period |
$8.57 |
$9.02 |
$9.02 |
$8.94 |
$8.89 |
Total
Return* |
(4.15)% |
0.83% |
3.17% |
3.37% |
(6.28)% |
Net
Assets, End of Period (in thousands) |
$474 |
$516 |
$654 |
$950 |
$959 |
Average
Net Assets for the Period (in thousands) |
$515 |
$573 |
$862 |
$949 |
$836 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
2.33% |
2.20% |
2.04% |
1.80% |
1.52% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.37% |
1.39% |
1.42% |
1.46% |
1.52% |
Ratio
of Net Investment Income/(Loss) |
0.65% |
0.73% |
1.40% |
1.27% |
0.91% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.01 |
$9.01 |
$8.92 |
$8.88 |
$9.63 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.10 |
0.11 |
0.17 |
0.19 |
0.14 |
Net
realized and unrealized gain/(loss) |
(0.43) |
0.01 |
0.17 |
0.14 |
(0.68) |
Total
from Investment Operations |
(0.33) |
0.12 |
0.34 |
0.33 |
(0.54) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.12) |
(0.12) |
(0.25) |
(0.29) |
(0.21) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.12) |
(0.12) |
(0.25) |
(0.29) |
(0.21) |
Net
Asset Value, End of Period |
$8.56 |
$9.01 |
$9.01 |
$8.92 |
$8.88 |
Total
Return* |
(3.68)% |
1.36% |
3.82% |
3.78% |
(5.73)% |
Net
Assets, End of Period (in thousands) |
$7,763 |
$11,109 |
$15,003 |
$23,902 |
$111,015 |
Average
Net Assets for the Period (in thousands) |
$8,974 |
$12,601 |
$19,046 |
$51,775 |
$193,808 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.29% |
1.20% |
1.20% |
0.98% |
0.93% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.87% |
0.86% |
0.91% |
0.93% |
0.92% |
Ratio
of Net Investment Income/(Loss) |
1.14% |
1.25% |
1.92% |
2.13% |
1.49% |
Portfolio
Turnover Rate |
69% |
47% |
11% |
170% |
119% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.93 |
$9.94 |
$9.69 |
$9.35 |
$9.46 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.12 |
0.17 |
0.14 |
0.18 |
0.21 |
Net
realized and unrealized gain/(loss) |
(1.33) |
0.26 |
0.44 |
0.58 |
(0.12) |
Total
from Investment Operations |
(1.21) |
0.43 |
0.58 |
0.76 |
0.09 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.12) |
(0.44) |
(0.30) |
(0.42) |
(0.20) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.12) |
(0.44) |
(0.33) |
(0.42) |
(0.20) |
Net
Asset Value, End of Period |
$8.60 |
$9.93 |
$9.94 |
$9.69 |
$9.35 |
Total
Return* |
(12.28)% |
4.30% |
6.07% |
8.48% |
0.99% |
Net
Assets, End of Period (in thousands) |
$81,662 |
$116,629 |
$59,079 |
$51,463 |
$40,600 |
Average
Net Assets for the Period (in thousands) |
$109,414 |
$94,430 |
$59,858 |
$43,495 |
$43,700 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.93% |
0.92% |
0.94% |
0.99% |
0.98% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.83% |
0.83% |
0.90% |
0.99% |
0.98% |
Ratio
of Net Investment Income/(Loss) |
1.25% |
1.69% |
1.45% |
1.98% |
2.23% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.85 |
$9.87 |
$9.63 |
$9.30 |
$9.41 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.05 |
0.10 |
0.07 |
0.12 |
0.14 |
Net
realized and unrealized gain/(loss) |
(1.31) |
0.24 |
0.43 |
0.57 |
(0.12) |
Total
from Investment Operations |
(1.26) |
0.34 |
0.50 |
0.69 |
0.02 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.05) |
(0.36) |
(0.23) |
(0.36) |
(0.13) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.05) |
(0.36) |
(0.26) |
(0.36) |
(0.13) |
Net
Asset Value, End of Period |
$8.54 |
$9.85 |
$9.87 |
$9.63 |
$9.30 |
Total
Return* |
(12.83)% |
3.47% |
5.26% |
7.67% |
0.25% |
Net
Assets, End of Period (in thousands) |
$26,901 |
$36,918 |
$37,641 |
$37,165 |
$40,085 |
Average
Net Assets for the Period (in thousands) |
$34,064 |
$38,596 |
$37,191 |
$36,574 |
$39,996 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.59% |
1.60% |
1.64% |
1.72% |
1.72% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.54% |
1.55% |
1.62% |
1.72% |
1.72% |
Ratio
of Net Investment Income/(Loss) |
0.54% |
0.99% |
0.74% |
1.27% |
1.48% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.91 |
$9.93 |
$9.69 |
$9.34 |
$9.45 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.10 |
0.15 |
0.13 |
0.18 |
0.20 |
Net
realized and unrealized gain/(loss) |
(1.32) |
0.25 |
0.42 |
0.59 |
(0.12) |
Total
from Investment Operations |
(1.22) |
0.40 |
0.55 |
0.77 |
0.08 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.10) |
(0.42) |
(0.28) |
(0.42) |
(0.19) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.10) |
(0.42) |
(0.31) |
(0.42) |
(0.19) |
Net
Asset Value, End of Period |
$8.59 |
$9.91 |
$9.93 |
$9.69 |
$9.34 |
Total
Return* |
(12.38)% |
3.99% |
5.83% |
8.51% |
0.85% |
Net
Assets, End of Period (in thousands) |
$585 |
$527 |
$224 |
$158 |
$121 |
Average
Net Assets for the Period (in thousands) |
$614 |
$500 |
$201 |
$141 |
$70 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.50% |
1.62% |
2.55% |
3.21% |
2.19% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.03% |
1.02% |
1.06% |
1.06% |
1.05% |
Ratio
of Net Investment Income/(Loss) |
1.06% |
1.50% |
1.31% |
1.91% |
2.12% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.89 |
$9.91 |
$9.66 |
$9.32 |
$9.43 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.14 |
0.19 |
0.17 |
0.21 |
0.23 |
Net
realized and unrealized gain/(loss) |
(1.31) |
0.25 |
0.43 |
0.58 |
(0.11) |
Total
from Investment Operations |
(1.17) |
0.44 |
0.60 |
0.79 |
0.12 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.15) |
(0.46) |
(0.32) |
(0.45) |
(0.23) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.15) |
(0.46) |
(0.35) |
(0.45) |
(0.23) |
Net
Asset Value, End of Period |
$8.57 |
$9.89 |
$9.91 |
$9.66 |
$9.32 |
Total
Return* |
(12.01)% |
4.46% |
6.36% |
8.77% |
1.25% |
Net
Assets, End of Period (in thousands) |
$1,894,294 |
$2,151,534 |
$1,348,740 |
$948,619 |
$659,214 |
Average
Net Assets for the Period (in thousands) |
$2,273,485 |
$1,744,298 |
$1,202,926 |
$732,591 |
$496,179 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.64% |
0.65% |
0.68% |
0.74% |
0.72% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.58% |
0.58% |
0.65% |
0.74% |
0.72% |
Ratio
of Net Investment Income/(Loss) |
1.52% |
1.94% |
1.71% |
2.23% |
2.47% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.90 |
$9.91 |
$9.67 |
$9.32 |
$9.44 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.15 |
0.19 |
0.18 |
0.21 |
0.23 |
Net
realized and unrealized gain/(loss) |
(1.33) |
0.26 |
0.42 |
0.59 |
(0.12) |
Total
from Investment Operations |
(1.18) |
0.45 |
0.60 |
0.80 |
0.11 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.15) |
(0.46) |
(0.33) |
(0.45) |
(0.23) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.15) |
(0.46) |
(0.36) |
(0.45) |
(0.23) |
Net
Asset Value, End of Period |
$8.57 |
$9.90 |
$9.91 |
$9.67 |
$9.32 |
Total
Return* |
(12.06)% |
4.58% |
6.32% |
8.94% |
1.19% |
Net
Assets, End of Period (in thousands) |
$126,445 |
$69,800 |
$31,829 |
$5,789 |
$4,168 |
Average
Net Assets for the Period (in thousands) |
$100,399 |
$50,273 |
$19,208 |
$5,062 |
$2,007 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.55% |
0.56% |
0.61% |
0.71% |
0.67% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.55% |
0.56% |
0.59% |
0.67% |
0.67% |
Ratio
of Net Investment Income/(Loss) |
1.59% |
1.94% |
1.82% |
2.31% |
2.51% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.91 |
$9.93 |
$9.68 |
$9.34 |
$9.45 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.13 |
0.17 |
0.15 |
0.19 |
0.21 |
Net
realized and unrealized gain/(loss) |
(1.32) |
0.25 |
0.44 |
0.58 |
(0.10) |
Total
from Investment Operations |
(1.19) |
0.42 |
0.59 |
0.77 |
0.11 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.13) |
(0.44) |
(0.31) |
(0.43) |
(0.22) |
Distributions
(from capital gains) |
— |
— |
(0.03) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.13) |
(0.44) |
(0.34) |
(0.43) |
(0.22) |
Net
Asset Value, End of Period |
$8.59 |
$9.91 |
$9.93 |
$9.68 |
$9.34 |
Total
Return* |
(12.17)% |
4.23% |
6.17% |
8.59% |
1.11% |
Net
Assets, End of Period (in thousands) |
$74,856 |
$118,467 |
$100,323 |
$70,554 |
$30,023 |
Average
Net Assets for the Period (in thousands) |
$106,431 |
$131,360 |
$106,719 |
$45,901 |
$19,756 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.78% |
0.81% |
0.84% |
0.91% |
0.89% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.77% |
0.79% |
0.83% |
0.90% |
0.88% |
Ratio
of Net Investment Income/(Loss) |
1.31% |
1.74% |
1.52% |
2.05% |
2.31% |
Portfolio
Turnover Rate |
86% |
37% |
88% |
42% |
125% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.17 |
0.20 |
0.25 |
0.28 |
0.24 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.76 |
0.37 |
(0.34) |
Total
from Investment Operations |
(1.21) |
0.24 |
1.01 |
0.65 |
(0.10) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.19) |
(0.22) |
(0.26) |
(0.29) |
—(2) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.26) |
Total
Dividends and Distributions |
(0.19) |
(0.22) |
(0.26) |
(0.29) |
(0.26) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
Total
Return* |
(11.00)% |
2.19% |
9.90% |
6.61% |
(0.95)% |
Net
Assets, End of Period (in thousands) |
$113,840 |
$144,886 |
$118,862 |
$115,349 |
$164,453 |
Average
Net Assets for the Period (in thousands) |
$134,145 |
$145,458 |
$114,334 |
$137,456 |
$227,344 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.85% |
0.86% |
0.92% |
1.01% |
0.95% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.76% |
0.86% |
0.88% |
0.91% |
0.89% |
Ratio
of Net Investment Income/(Loss) |
1.59% |
1.74% |
2.30% |
2.78% |
2.32% |
Portfolio
Turnover Rate(3) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.09 |
0.13 |
0.18 |
0.22 |
0.18 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.05 |
0.77 |
0.37 |
(0.34) |
Total
from Investment Operations |
(1.29) |
0.18 |
0.95 |
0.59 |
(0.16) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.11) |
(0.16) |
(0.20) |
(0.23) |
—(2) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.20) |
Total
Dividends and Distributions |
(0.11) |
(0.16) |
(0.20) |
(0.23) |
(0.20) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
Total
Return* |
(11.62)% |
1.60% |
9.23% |
5.97% |
(1.54)% |
Net
Assets, End of Period (in thousands) |
$44,112 |
$74,867 |
$122,908 |
$135,639 |
$194,727 |
Average
Net Assets for the Period (in thousands) |
$61,758 |
$97,560 |
$123,202 |
$155,770 |
$242,549 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.49% |
1.44% |
1.50% |
1.52% |
1.50% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.45% |
1.44% |
1.50% |
1.52% |
1.50% |
Ratio
of Net Investment Income/(Loss) |
0.88% |
1.17% |
1.67% |
2.17% |
1.74% |
Portfolio
Turnover Rate(3) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.15 |
0.19 |
0.24 |
0.27 |
0.24 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.77 |
0.37 |
(0.34) |
Total
from Investment Operations |
(1.23) |
0.23 |
1.01 |
0.64 |
(0.10) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.17) |
(0.21) |
(0.26) |
(0.28) |
—(2) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.26) |
Total
Dividends and Distributions |
(0.17) |
(0.21) |
(0.26) |
(0.28) |
(0.26) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
Total
Return* |
(11.17)% |
2.11% |
9.83% |
6.56% |
(0.98)% |
Net
Assets, End of Period (in thousands) |
$15,002 |
$19,114 |
$18,630 |
$28,020 |
$36,398 |
Average
Net Assets for the Period (in thousands) |
$17,308 |
$19,517 |
$23,253 |
$30,601 |
$41,035 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.95% |
0.94% |
0.95% |
0.96% |
0.93% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.94% |
0.94% |
0.95% |
0.96% |
0.93% |
Ratio
of Net Investment Income/(Loss) |
1.41% |
1.66% |
2.24% |
2.73% |
2.31% |
Portfolio
Turnover Rate(3) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.20 |
0.24 |
0.28 |
0.32 |
0.28 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.77 |
0.37 |
(0.33) |
Total
from Investment Operations |
(1.18) |
0.28 |
1.05 |
0.69 |
(0.05) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.22) |
(0.26) |
(0.30) |
(0.33) |
0.01 |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.32) |
Total
Dividends and Distributions |
(0.22) |
(0.26) |
(0.30) |
(0.33) |
(0.31) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
Total
Return* |
(10.75)% |
2.56% |
10.31% |
7.02% |
(0.55)% |
Net
Assets, End of Period (in thousands) |
$1,527,891 |
$1,967,268 |
$1,746,376 |
$2,007,132 |
$4,027,112 |
Average
Net Assets for the Period (in thousands) |
$1,864,618 |
$1,866,732 |
$1,806,163 |
$3,245,500 |
$4,996,045 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.51% |
0.50% |
0.51% |
0.52% |
0.50% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.47% |
0.50% |
0.51% |
0.52% |
0.50% |
Ratio
of Net Investment Income/(Loss) |
1.87% |
2.10% |
2.67% |
3.17% |
2.73% |
Portfolio
Turnover Rate(2) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.15 |
$11.14 |
$10.38 |
$10.02 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.21 |
0.24 |
0.29 |
0.33 |
0.29 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.78 |
0.37 |
(0.35) |
Total
from Investment Operations |
(1.17) |
0.28 |
1.07 |
0.70 |
(0.06) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.22) |
(0.27) |
(0.31) |
(0.34) |
0.01 |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.32) |
Total
Dividends and Distributions |
(0.22) |
(0.27) |
(0.31) |
(0.34) |
(0.31) |
Net
Asset Value, End of Period |
$9.76 |
$11.15 |
$11.14 |
$10.38 |
$10.02 |
Total
Return* |
(10.63)% |
2.54% |
10.49% |
7.10% |
(0.59)% |
Net
Assets, End of Period (in thousands) |
$549,639 |
$487,997 |
$539,154 |
$680,664 |
$1,354,610 |
Average
Net Assets for the Period (in thousands) |
$485,064 |
$509,158 |
$662,412 |
$1,190,558 |
$990,124 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.43% |
0.43% |
0.44% |
0.45% |
0.44% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.43% |
0.43% |
0.44% |
0.45% |
0.44% |
Ratio
of Net Investment Income/(Loss) |
1.94% |
2.18% |
2.74% |
3.25% |
2.90% |
Portfolio
Turnover Rate(2) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.15 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.12 |
0.16 |
0.21 |
0.25 |
0.21 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.78 |
0.37 |
(0.34) |
Total
from Investment Operations |
(1.26) |
0.20 |
0.99 |
0.62 |
(0.13) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.14) |
(0.19) |
(0.23) |
(0.26) |
—(2) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.23) |
Total
Dividends and Distributions |
(0.14) |
(0.19) |
(0.23) |
(0.26) |
(0.23) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.15 |
$10.39 |
$10.03 |
Total
Return* |
(11.38)% |
1.80% |
9.65% |
6.30% |
(1.23)% |
Net
Assets, End of Period (in thousands) |
$20,102 |
$25,664 |
$24,453 |
$27,580 |
$36,235 |
Average
Net Assets for the Period (in thousands) |
$24,638 |
$26,042 |
$25,769 |
$31,616 |
$38,913 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.18% |
1.16% |
1.20% |
1.21% |
1.19% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.18% |
1.16% |
1.20% |
1.21% |
1.19% |
Ratio
of Net Investment Income/(Loss) |
1.16% |
1.45% |
1.98% |
2.49% |
2.07% |
Portfolio
Turnover Rate(3) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
$10.39 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.18 |
0.22 |
0.27 |
0.30 |
0.26 |
Net
realized and unrealized gain/(loss) |
(1.38) |
0.04 |
0.77 |
0.37 |
(0.33) |
Total
from Investment Operations |
(1.20) |
0.26 |
1.04 |
0.67 |
(0.07) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.20) |
(0.24) |
(0.29) |
(0.31) |
—(2) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
(0.29) |
Total
Dividends and Distributions |
(0.20) |
(0.24) |
(0.29) |
(0.31) |
(0.29) |
Net
Asset Value, End of Period |
$9.76 |
$11.16 |
$11.14 |
$10.39 |
$10.03 |
Total
Return* |
(10.93)% |
2.39% |
10.12% |
6.84% |
(0.72)% |
Net
Assets, End of Period (in thousands) |
$383,193 |
$547,371 |
$597,879 |
$641,190 |
$898,156 |
Average
Net Assets for the Period (in thousands) |
$477,073 |
$590,025 |
$605,817 |
$736,901 |
$1,120,052 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.68% |
0.68% |
0.69% |
0.70% |
0.68% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.67% |
0.67% |
0.68% |
0.69% |
0.67% |
Ratio
of Net Investment Income/(Loss) |
1.67% |
1.94% |
2.49% |
3.00% |
2.56% |
Portfolio
Turnover Rate(3) |
158% |
132% |
175% |
219% |
181% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.07 |
$10.10 |
$9.63 |
$9.40 |
$9.54 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.09 |
0.11 |
0.12 |
0.14 |
0.23 |
Net
realized and unrealized gain/(loss) |
(1.85) |
0.22 |
0.47 |
0.23 |
(0.14) |
Total
from Investment Operations |
(1.76) |
0.33 |
0.59 |
0.37 |
0.09 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.11) |
(0.13) |
(0.12) |
(0.09) |
— |
Distributions
(from capital gains) |
(0.05) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.05) |
— |
— |
(0.05) |
(0.23) |
Total
Dividends and Distributions |
(0.21) |
(0.36) |
(0.12) |
(0.14) |
(0.23) |
Net
Asset Value, End of Period |
$8.10 |
$10.07 |
$10.10 |
$9.63 |
$9.40 |
Total
Return* |
(17.77)% |
3.10% |
6.20% |
3.96% |
0.92% |
Net
Assets, End of Period (in thousands) |
$1,040 |
$1,693 |
$1,530 |
$1,364 |
$2,230 |
Average
Net Assets for the Period (in thousands) |
$1,452 |
$1,848 |
$1,532 |
$1,522 |
$2,633 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.29% |
1.25% |
1.29% |
1.33% |
1.10% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.96% |
0.94% |
0.95% |
0.97% |
0.94% |
Ratio
of Net Investment Income/(Loss) |
0.96% |
1.04% |
1.21% |
1.49% |
2.39% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.06 |
$10.11 |
$9.64 |
$9.41 |
$9.54 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.02 |
0.03 |
0.04 |
0.07 |
0.16 |
Net
realized and unrealized gain/(loss) |
(1.85) |
0.20 |
0.48 |
0.23 |
(0.13) |
Total
from Investment Operations |
(1.83) |
0.23 |
0.52 |
0.30 |
0.03 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.03) |
(0.05) |
(0.05) |
(0.05) |
— |
Distributions
(from capital gains) |
(0.08) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.02) |
— |
— |
(0.02) |
(0.16) |
Total
Dividends and Distributions |
(0.13) |
(0.28) |
(0.05) |
(0.07) |
(0.16) |
Net
Asset Value, End of Period |
$8.10 |
$10.06 |
$10.11 |
$9.64 |
$9.41 |
Total
Return* |
(18.31)% |
2.15% |
5.41% |
3.19% |
0.33% |
Net
Assets, End of Period (in thousands) |
$710 |
$1,243 |
$1,491 |
$1,646 |
$2,422 |
Average
Net Assets for the Period (in thousands) |
$982 |
$1,489 |
$1,525 |
$1,849 |
$2,908 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
2.14% |
2.01% |
2.03% |
2.04% |
1.80% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.71% |
1.67% |
1.69% |
1.71% |
1.65% |
Ratio
of Net Investment Income/(Loss) |
0.21% |
0.30% |
0.46% |
0.74% |
1.68% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.00 |
$10.10 |
$9.64 |
$9.41 |
$9.54 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.08 |
0.08 |
0.11 |
0.13 |
0.22 |
Net
realized and unrealized gain/(loss) |
(1.80) |
0.16 |
0.46 |
0.23 |
(0.13) |
Total
from Investment Operations |
(1.72) |
0.24 |
0.57 |
0.36 |
0.09 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.09) |
(0.11) |
(0.11) |
(0.09) |
— |
Distributions
(from capital gains) |
(0.06) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.04) |
— |
— |
(0.04) |
(0.22) |
Total
Dividends and Distributions |
(0.19) |
(0.34) |
(0.11) |
(0.13) |
(0.22) |
Net
Asset Value, End of Period |
$8.09 |
$10.00 |
$10.10 |
$9.64 |
$9.41 |
Total
Return* |
(17.44)% |
2.19% |
5.92% |
3.93% |
0.92% |
Net
Assets, End of Period (in thousands) |
$63 |
$20 |
$133 |
$319 |
$448 |
Average
Net Assets for the Period (in thousands) |
$59 |
$41 |
$89 |
$375 |
$435 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
6.35% |
8.61% |
4.64% |
2.01% |
1.40% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.13% |
1.11% |
1.10% |
1.01% |
1.05% |
Ratio
of Net Investment Income/(Loss) |
0.85% |
0.77% |
1.09% |
1.43% |
2.25% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.08 |
$10.09 |
$9.62 |
$9.39 |
$9.53 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.12 |
0.14 |
0.14 |
0.16 |
0.25 |
Net
realized and unrealized gain/(loss) |
(1.88) |
0.23 |
0.48 |
0.23 |
(0.13) |
Total
from Investment Operations |
(1.76) |
0.37 |
0.62 |
0.39 |
0.12 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.13) |
(0.15) |
(0.15) |
(0.11) |
— |
Distributions
(from capital gains) |
(0.04) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.06) |
— |
— |
(0.05) |
(0.26) |
Total
Dividends and Distributions |
(0.23) |
(0.38) |
(0.15) |
(0.16) |
(0.26) |
Net
Asset Value, End of Period |
$8.09 |
$10.08 |
$10.09 |
$9.62 |
$9.39 |
Total
Return* |
(17.74)% |
3.55% |
6.47% |
4.24% |
1.17% |
Net
Assets, End of Period (in thousands) |
$47,991 |
$66,581 |
$29,927 |
$22,953 |
$25,421 |
Average
Net Assets for the Period (in thousands) |
$60,579 |
$40,487 |
$21,968 |
$22,886 |
$31,326 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.83% |
0.85% |
0.85% |
0.88% |
0.82% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.71% |
0.70% |
0.70% |
0.71% |
0.69% |
Ratio
of Net Investment Income/(Loss) |
1.22% |
1.33% |
1.45% |
1.74% |
2.62% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.05 |
$10.09 |
$9.61 |
$9.39 |
$9.52 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.13 |
0.14 |
0.15 |
0.17 |
0.26 |
Net
realized and unrealized gain/(loss) |
(1.86) |
0.21 |
0.49 |
0.22 |
(0.13) |
Total
from Investment Operations |
(1.73) |
0.35 |
0.64 |
0.39 |
0.13 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.14) |
(0.16) |
(0.16) |
(0.11) |
— |
Distributions
(from capital gains) |
(0.03) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.07) |
— |
— |
(0.06) |
(0.26) |
Total
Dividends and Distributions |
(0.24) |
(0.39) |
(0.16) |
(0.17) |
(0.26) |
Net
Asset Value, End of Period |
$8.08 |
$10.05 |
$10.09 |
$9.61 |
$9.39 |
Total
Return* |
(17.51)% |
3.36% |
6.69% |
4.23% |
1.38% |
Net
Assets, End of Period (in thousands) |
$121,761 |
$145,333 |
$158,474 |
$166,397 |
$183,605 |
Average
Net Assets for the Period (in thousands) |
$152,358 |
$148,263 |
$161,595 |
$170,128 |
$186,758 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.72% |
0.74% |
0.74% |
0.77% |
0.72% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.60% |
0.60% |
0.60% |
0.61% |
0.60% |
Ratio
of Net Investment Income/(Loss) |
1.34% |
1.38% |
1.55% |
1.83% |
2.72% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$9.91 |
$10.10 |
$9.63 |
$9.40 |
$9.53 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.10 |
0.11 |
0.13 |
0.15 |
0.24 |
Net
realized and unrealized gain/(loss) |
(1.70) |
0.07 |
0.47 |
0.23 |
(0.13) |
Total
from Investment Operations |
(1.60) |
0.18 |
0.60 |
0.38 |
0.11 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.12) |
(0.14) |
(0.13) |
(0.10) |
— |
Distributions
(from capital gains) |
(0.04) |
(0.23) |
— |
— |
— |
Return
of capital |
(0.06) |
— |
— |
(0.05) |
(0.24) |
Total
Dividends and Distributions |
(0.22) |
(0.37) |
(0.13) |
(0.15) |
(0.24) |
Net
Asset Value, End of Period |
$8.09 |
$9.91 |
$10.10 |
$9.63 |
$9.40 |
Total
Return* |
(16.43)% |
1.56% |
6.32% |
4.09% |
1.14% |
Net
Assets, End of Period (in thousands) |
$3,410 |
$9,280 |
$29,055 |
$5,048 |
$6,600 |
Average
Net Assets for the Period (in thousands) |
$6,162 |
$33,807 |
$6,485 |
$5,509 |
$6,097 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.02% |
1.00% |
1.03% |
1.07% |
0.99% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.83% |
0.84% |
0.85% |
0.85% |
0.83% |
Ratio
of Net Investment Income/(Loss) |
1.06% |
1.10% |
1.32% |
1.60% |
2.46% |
Portfolio
Turnover Rate |
41%(2) |
63%(2) |
164%(2) |
248% |
249% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
$8.50 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.36 |
0.39 |
0.41 |
0.43 |
0.46 |
Net
realized and unrealized gain/(loss) |
(1.64) |
0.88 |
(0.57) |
0.16 |
(0.32) |
Total
from Investment Operations |
(1.28) |
1.27 |
(0.16) |
0.59 |
0.14 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.37) |
(0.40) |
(0.41) |
(0.43) |
(0.46) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.37) |
(0.40) |
(0.41) |
(0.43) |
(0.46) |
Net
Asset Value, End of Period |
$6.99 |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
Total
Return* |
(15.31)% |
16.69% |
(1.95)% |
7.48% |
1.58% |
Net
Assets, End of Period (in thousands) |
$24,533 |
$38,432 |
$32,937 |
$28,510 |
$32,487 |
Average
Net Assets for the Period (in thousands) |
$32,275 |
$36,570 |
$35,108 |
$27,131 |
$35,915 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.98% |
0.97% |
0.98% |
1.04% |
1.03% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.98% |
0.97% |
0.98% |
1.04% |
1.03% |
Ratio
of Net Investment Income/(Loss) |
4.41% |
4.71% |
5.09% |
5.23% |
5.41% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.63 |
$7.77 |
$8.34 |
$8.18 |
$8.50 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.31 |
0.34 |
0.36 |
0.37 |
0.40 |
Net
realized and unrealized gain/(loss) |
(1.63) |
0.86 |
(0.57) |
0.17 |
(0.32) |
Total
from Investment Operations |
(1.32) |
1.20 |
(0.21) |
0.54 |
0.08 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.32) |
(0.34) |
(0.36) |
(0.38) |
(0.40) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.32) |
(0.34) |
(0.36) |
(0.38) |
(0.40) |
Net
Asset Value, End of Period |
$6.99 |
$8.63 |
$7.77 |
$8.34 |
$8.18 |
Total
Return* |
(15.81)% |
15.73% |
(2.64)% |
6.78% |
0.92% |
Net
Assets, End of Period (in thousands) |
$5,200 |
$7,519 |
$12,402 |
$23,026 |
$33,888 |
Average
Net Assets for the Period (in thousands) |
$7,124 |
$9,532 |
$15,009 |
$27,890 |
$39,154 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.71% |
1.70% |
1.69% |
1.70% |
1.68% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.68% |
1.69% |
1.69% |
1.70% |
1.68% |
Ratio
of Net Investment Income/(Loss) |
3.71% |
4.03% |
4.37% |
4.57% |
4.75% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.65 |
$7.78 |
$8.35 |
$8.19 |
$8.51 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.35 |
0.38 |
0.40 |
0.41 |
0.44 |
Net
realized and unrealized gain/(loss) |
(1.64) |
0.88 |
(0.57) |
0.17 |
(0.32) |
Total
from Investment Operations |
(1.29) |
1.26 |
(0.17) |
0.58 |
0.12 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.36) |
(0.39) |
(0.40) |
(0.42) |
(0.44) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.36) |
(0.39) |
(0.40) |
(0.42) |
(0.44) |
Net
Asset Value, End of Period |
$7.00 |
$8.65 |
$7.78 |
$8.35 |
$8.19 |
Total
Return* |
(15.42)% |
16.47% |
(2.14)% |
7.29% |
1.44% |
Net
Assets, End of Period (in thousands) |
$1,449 |
$2,237 |
$1,859 |
$1,496 |
$1,995 |
Average
Net Assets for the Period (in thousands) |
$1,946 |
$2,057 |
$1,687 |
$1,833 |
$1,746 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.28% |
1.27% |
1.30% |
1.31% |
1.19% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.13% |
1.15% |
1.19% |
1.22% |
1.18% |
Ratio
of Net Investment Income/(Loss) |
4.25% |
4.53% |
4.90% |
5.07% |
5.26% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.64 |
$7.77 |
$8.34 |
$8.19 |
$8.50 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.39 |
0.42 |
0.44 |
0.45 |
0.48 |
Net
realized and unrealized gain/(loss) |
(1.64) |
0.88 |
(0.57) |
0.16 |
(0.31) |
Total
from Investment Operations |
(1.25) |
1.30 |
(0.13) |
0.61 |
0.17 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.39) |
(0.43) |
(0.44) |
(0.46) |
(0.48) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.39) |
(0.43) |
(0.44) |
(0.46) |
(0.48) |
Net
Asset Value, End of Period |
$7.00 |
$8.64 |
$7.77 |
$8.34 |
$8.19 |
Total
Return* |
(14.98)% |
16.99% |
(1.69)% |
7.68% |
2.01% |
Net
Assets, End of Period (in thousands) |
$165,462 |
$264,363 |
$258,255 |
$289,574 |
$373,573 |
Average
Net Assets for the Period (in thousands) |
$232,609 |
$258,975 |
$277,116 |
$323,343 |
$623,820 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.72% |
0.71% |
0.72% |
0.73% |
0.71% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.72% |
0.71% |
0.72% |
0.73% |
0.71% |
Ratio
of Net Investment Income/(Loss) |
4.66% |
4.97% |
5.34% |
5.54% |
5.70% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
$8.50 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.39 |
0.42 |
0.44 |
0.46 |
0.47 |
Net
realized and unrealized gain/(loss) |
(1.64) |
0.88 |
(0.57) |
0.16 |
(0.30) |
Total
from Investment Operations |
(1.25) |
1.30 |
(0.13) |
0.62 |
0.17 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.40) |
(0.43) |
(0.44) |
(0.46) |
(0.49) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.40) |
(0.43) |
(0.44) |
(0.46) |
(0.49) |
Net
Asset Value, End of Period |
$6.99 |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
Total
Return* |
(15.01)% |
17.09% |
(1.59)% |
7.90% |
1.98% |
Net
Assets, End of Period (in thousands) |
$165,384 |
$149,967 |
$129,944 |
$124,803 |
$209,887 |
Average
Net Assets for the Period (in thousands) |
$176,304 |
$139,565 |
$129,946 |
$170,511 |
$73,663 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.63% |
0.62% |
0.62% |
0.65% |
0.67% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.63% |
0.62% |
0.62% |
0.65% |
0.67% |
Ratio
of Net Investment Income/(Loss) |
4.80% |
5.05% |
5.47% |
5.61% |
5.89% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.63 |
$7.76 |
$8.33 |
$8.18 |
$8.49 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.33 |
0.35 |
0.38 |
0.39 |
0.42 |
Net
realized and unrealized gain/(loss) |
(1.63) |
0.89 |
(0.57) |
0.15 |
(0.31) |
Total
from Investment Operations |
(1.30) |
1.24 |
(0.19) |
0.54 |
0.11 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.34) |
(0.37) |
(0.38) |
(0.39) |
(0.42) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.34) |
(0.37) |
(0.38) |
(0.39) |
(0.42) |
Net
Asset Value, End of Period |
$6.99 |
$8.63 |
$7.76 |
$8.33 |
$8.18 |
Total
Return* |
(15.56)% |
16.20% |
(2.41)% |
6.89% |
1.28% |
Net
Assets, End of Period (in thousands) |
$6,351 |
$7,788 |
$1,551 |
$1,623 |
$1,365 |
Average
Net Assets for the Period (in thousands) |
$7,434 |
$3,865 |
$1,538 |
$1,397 |
$1,411 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.41% |
1.45% |
1.57% |
1.62% |
1.45% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.38% |
1.39% |
1.45% |
1.48% |
1.45% |
Ratio
of Net Investment Income/(Loss) |
4.02% |
4.20% |
4.64% |
4.82% |
4.99% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
$8.50 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.37 |
0.40 |
0.42 |
0.44 |
0.47 |
Net
realized and unrealized gain/(loss) |
(1.64) |
0.88 |
(0.57) |
0.16 |
(0.32) |
Total
from Investment Operations |
(1.27) |
1.28 |
(0.15) |
0.60 |
0.15 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.38) |
(0.41) |
(0.42) |
(0.44) |
(0.47) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.38) |
(0.41) |
(0.42) |
(0.44) |
(0.47) |
Net
Asset Value, End of Period |
$6.99 |
$8.64 |
$7.77 |
$8.34 |
$8.18 |
Total
Return* |
(15.21)% |
16.82% |
(1.83)% |
7.64% |
1.73% |
Net
Assets, End of Period (in thousands) |
$283,236 |
$372,314 |
$349,513 |
$442,866 |
$515,406 |
Average
Net Assets for the Period (in thousands) |
$351,039 |
$364,038 |
$411,154 |
$460,568 |
$703,671 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.87% |
0.87% |
0.87% |
0.89% |
0.88% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.86% |
0.85% |
0.86% |
0.89% |
0.88% |
Ratio
of Net Investment Income/(Loss) |
4.53% |
4.82% |
5.21% |
5.39% |
5.55% |
Portfolio
Turnover Rate |
81% |
120% |
146% |
110% |
114% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.12 |
$9.47 |
$9.89 |
$9.66 |
$9.83 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.33 |
0.39 |
0.40 |
0.42 |
0.40 |
Net
realized and unrealized gain/(loss) |
(1.33) |
0.67 |
(0.34) |
0.25 |
(0.08) |
Total
from Investment Operations |
(1.00) |
1.06 |
0.06 |
0.67 |
0.32 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.36) |
(0.41) |
(0.40) |
(0.44) |
(0.43) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.03) |
— |
— |
Total
Dividends and Distributions |
(0.39) |
(0.41) |
(0.48) |
(0.44) |
(0.49) |
Net
Asset Value, End of Period |
$8.73 |
$10.12 |
$9.47 |
$9.89 |
$9.66 |
Total
Return* |
(10.18)% |
11.38%(3) |
0.61% |
7.11% |
3.20% |
Net
Assets, End of Period (in thousands) |
$49,566 |
$67,032 |
$49,168 |
$20,276 |
$15,697 |
Average
Net Assets for the Period (in thousands) |
$63,735 |
$57,669 |
$40,103 |
$14,907 |
$13,616 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.90% |
0.91% |
0.92% |
1.05% |
1.11% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.90% |
0.91% |
0.92% |
1.00% |
0.99% |
Ratio
of Net Investment Income/(Loss) |
3.43% |
3.91% |
4.19% |
4.35% |
4.16% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.12 |
$9.47 |
$9.89 |
$9.67 |
$9.84 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.26 |
0.32 |
0.33 |
0.35 |
0.33 |
Net
realized and unrealized gain/(loss) |
(1.33) |
0.67 |
(0.35) |
0.23 |
(0.09) |
Total
from Investment Operations |
(1.07) |
0.99 |
(0.02) |
0.58 |
0.24 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.28) |
(0.34) |
(0.33) |
(0.36) |
(0.35) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.02) |
— |
— |
Total
Dividends and Distributions |
(0.31) |
(0.34) |
(0.40) |
(0.36) |
(0.41) |
Net
Asset Value, End of Period |
$8.74 |
$10.12 |
$9.47 |
$9.89 |
$9.67 |
Total
Return* |
(10.75)% |
10.58%(3) |
(0.18)% |
6.20% |
2.40% |
Net
Assets, End of Period (in thousands) |
$62,504 |
$71,133 |
$63,574 |
$30,350 |
$18,101 |
Average
Net Assets for the Period (in thousands) |
$73,171 |
$67,010 |
$50,662 |
$20,980 |
$12,273 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.66% |
1.64% |
1.71% |
1.79% |
1.90% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.66% |
1.64% |
1.71% |
1.76% |
1.79% |
Ratio
of Net Investment Income/(Loss) |
2.70% |
3.19% |
3.43% |
3.60% |
3.40% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.11 |
$9.46 |
$9.91 |
$9.67 |
$9.84 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.32 |
0.39 |
0.39 |
0.43 |
0.40 |
Net
realized and unrealized gain/(loss) |
(1.34) |
0.67 |
(0.37) |
0.27 |
(0.09) |
Total
from Investment Operations |
(1.02) |
1.06 |
0.02 |
0.70 |
0.31 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.33) |
(0.41) |
(0.39) |
(0.46) |
(0.42) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.03) |
— |
— |
Total
Dividends and Distributions |
(0.36) |
(0.41) |
(0.47) |
(0.46) |
(0.48) |
Net
Asset Value, End of Period |
$8.73 |
$10.11 |
$9.46 |
$9.91 |
$9.67 |
Total
Return* |
(10.30)% |
11.32%(3) |
0.19% |
7.51% |
3.12% |
Net
Assets, End of Period (in thousands) |
$1,202 |
$745 |
$987 |
$652 |
$1,228 |
Average
Net Assets for the Period (in thousands) |
$890 |
$898 |
$775 |
$908 |
$1,181 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.45% |
1.33% |
1.43% |
1.36% |
1.37% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.15% |
0.98% |
1.03% |
0.89% |
1.07% |
Ratio
of Net Investment Income/(Loss) |
3.33% |
3.88% |
4.05% |
4.47% |
4.13% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.12 |
$9.47 |
$9.88 |
$9.66 |
$9.83 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.36 |
0.41 |
0.43 |
0.44 |
0.43 |
Net
realized and unrealized gain/(loss) |
(1.34) |
0.67 |
(0.34) |
0.24 |
(0.09) |
Total
from Investment Operations |
(0.98) |
1.08 |
0.09 |
0.68 |
0.34 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.38) |
(0.43) |
(0.42) |
(0.46) |
(0.45) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.03) |
— |
— |
Total
Dividends and Distributions |
(0.41) |
(0.43) |
(0.50) |
(0.46) |
(0.51) |
Net
Asset Value, End of Period |
$8.73 |
$10.12 |
$9.47 |
$9.88 |
$9.66 |
Total
Return* |
(9.99)% |
11.63%(3) |
0.93% |
7.25% |
3.46% |
Net
Assets, End of Period (in thousands) |
$2,522,907 |
$2,570,289 |
$1,805,985 |
$909,014 |
$196,433 |
Average
Net Assets for the Period (in thousands) |
$2,803,141 |
$2,061,334 |
$1,542,112 |
$476,391 |
$110,623 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.69% |
0.69% |
0.70% |
0.80% |
0.87% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.69% |
0.69% |
0.70% |
0.78% |
0.76% |
Ratio
of Net Investment Income/(Loss) |
3.68% |
4.13% |
4.42% |
4.59% |
4.45% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.12 |
$9.47 |
$9.89 |
$9.67 |
$9.84 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.37 |
0.42 |
0.44 |
0.45 |
0.44 |
Net
realized and unrealized gain/(loss) |
(1.33) |
0.67 |
(0.36) |
0.24 |
(0.09) |
Total
from Investment Operations |
(0.96) |
1.09 |
0.08 |
0.69 |
0.35 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.39) |
(0.44) |
(0.42) |
(0.47) |
(0.46) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.03) |
— |
— |
Total
Dividends and Distributions |
(0.42) |
(0.44) |
(0.50) |
(0.47) |
(0.52) |
Net
Asset Value, End of Period |
$8.74 |
$10.12 |
$9.47 |
$9.89 |
$9.67 |
Total
Return* |
(9.80)% |
11.73%(3) |
0.90% |
7.32% |
3.51% |
Net
Assets, End of Period (in thousands) |
$68,120 |
$121,983 |
$88,092 |
$6,763 |
$2,696 |
Average
Net Assets for the Period (in thousands) |
$101,875 |
$104,964 |
$20,729 |
$3,933 |
$2,017 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.59% |
0.60% |
0.63% |
0.80% |
0.84% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.59% |
0.60% |
0.63% |
0.71% |
0.69% |
Ratio
of Net Investment Income/(Loss) |
3.73% |
4.21% |
4.68% |
4.67% |
4.50% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$10.12 |
$9.47 |
$9.89 |
$9.66 |
$9.83 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.34 |
0.40 |
0.41 |
0.42 |
0.41 |
Net
realized and unrealized gain/(loss) |
(1.34) |
0.67 |
(0.35) |
0.25 |
(0.09) |
Total
from Investment Operations |
(1.00) |
1.07 |
0.06 |
0.67 |
0.32 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.36) |
(0.42) |
(0.40) |
(0.44) |
(0.43) |
Distributions
(from capital gains) |
(0.03) |
— |
(0.05) |
— |
(0.06) |
Return
of capital |
—(2) |
— |
(0.03) |
— |
— |
Total
Dividends and Distributions |
(0.39) |
(0.42) |
(0.48) |
(0.44) |
(0.49) |
Net
Asset Value, End of Period |
$8.73 |
$10.12 |
$9.47 |
$9.89 |
$9.66 |
Total
Return* |
(10.12)% |
11.47%(3) |
0.67% |
7.17% |
3.26% |
Net
Assets, End of Period (in thousands) |
$159,043 |
$229,774 |
$285,912 |
$149,662 |
$75,614 |
Average
Net Assets for the Period (in thousands) |
$202,714 |
$291,205 |
$250,371 |
$105,637 |
$47,107 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.84% |
0.85% |
0.86% |
0.98% |
1.06% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.83% |
0.83% |
0.86% |
0.95% |
0.94% |
Ratio
of Net Investment Income/(Loss) |
3.50% |
4.01% |
4.27% |
4.42% |
4.26% |
Portfolio
Turnover Rate(4) |
75% |
119% |
188% |
142% |
194% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.08 |
$3.06 |
$3.02 |
$2.98 |
$3.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.03 |
0.05 |
0.06 |
0.07 |
0.05 |
Net
realized and unrealized gain/(loss) |
(0.22) |
0.02 |
0.05 |
0.04 |
(0.04) |
Total
from Investment Operations |
(0.19) |
0.07 |
0.11 |
0.11 |
0.01 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.04) |
(0.05) |
(0.07) |
(0.07) |
(0.05) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.04) |
(0.05) |
(0.07) |
(0.07) |
(0.05) |
Net
Asset Value, End of Period |
$2.85 |
$3.08 |
$3.06 |
$3.02 |
$2.98 |
Total
Return* |
(6.28)% |
2.30% |
3.57% |
3.64% |
0.41% |
Net
Assets, End of Period (in thousands) |
$66,254 |
$77,673 |
$65,066 |
$57,815 |
$52,118 |
Average
Net Assets for the Period (in thousands) |
$74,703 |
$76,534 |
$56,628 |
$57,158 |
$61,037 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.78% |
0.78% |
0.79% |
0.85% |
0.90% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.71% |
0.74% |
0.74% |
0.77% |
0.79% |
Ratio
of Net Investment Income/(Loss) |
1.06% |
1.51% |
2.10% |
2.25% |
1.69% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.08 |
$3.05 |
$3.01 |
$2.97 |
$3.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.01 |
0.03 |
0.04 |
0.05 |
0.03 |
Net
realized and unrealized gain/(loss) |
(0.23) |
0.03 |
0.04 |
0.04 |
(0.05) |
Total
from Investment Operations |
(0.22) |
0.06 |
0.08 |
0.09 |
(0.02) |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.02) |
(0.03) |
(0.04) |
(0.05) |
(0.03) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.02) |
(0.03) |
(0.04) |
(0.05) |
(0.03) |
Net
Asset Value, End of Period |
$2.84 |
$3.08 |
$3.05 |
$3.01 |
$2.97 |
Total
Return* |
(7.27)% |
2.04% |
2.84% |
2.90% |
(0.69)% |
Net
Assets, End of Period (in thousands) |
$16,947 |
$23,656 |
$27,296 |
$29,434 |
$27,253 |
Average
Net Assets for the Period (in thousands) |
$20,412 |
$28,272 |
$26,387 |
$30,443 |
$33,426 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.51% |
1.37% |
1.53% |
1.58% |
1.67% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
1.42% |
1.32% |
1.47% |
1.49% |
1.56% |
Ratio
of Net Investment Income/(Loss) |
0.34% |
0.93% |
1.37% |
1.52% |
0.91% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.07 |
$3.05 |
$3.01 |
$2.97 |
$3.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.03 |
0.04 |
0.06 |
0.06 |
0.05 |
Net
realized and unrealized gain/(loss) |
(0.22) |
0.02 |
0.04 |
0.04 |
(0.05) |
Total
from Investment Operations |
(0.19) |
0.06 |
0.10 |
0.10 |
— |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.03) |
(0.04) |
(0.06) |
(0.06) |
(0.05) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.03) |
(0.04) |
(0.06) |
(0.06) |
(0.05) |
Net
Asset Value, End of Period |
$2.85 |
$3.07 |
$3.05 |
$3.01 |
$2.97 |
Total
Return* |
(6.16)% |
2.12% |
3.39% |
3.46% |
(0.09)% |
Net
Assets, End of Period (in thousands) |
$371 |
$660 |
$791 |
$1,162 |
$1,574 |
Average
Net Assets for the Period (in thousands) |
$635 |
$674 |
$1,085 |
$1,322 |
$1,778 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
1.46% |
1.43% |
1.26% |
1.27% |
1.14% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.90% |
0.92% |
0.93% |
0.95% |
0.96% |
Ratio
of Net Investment Income/(Loss) |
0.87% |
1.32% |
1.88% |
2.04% |
1.52% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.08 |
$3.05 |
$3.02 |
$2.97 |
$3.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.04 |
0.05 |
0.07 |
0.07 |
0.06 |
Net
realized and unrealized gain/(loss) |
(0.23) |
0.04 |
0.03 |
0.05 |
(0.05) |
Total
from Investment Operations |
(0.19) |
0.09 |
0.10 |
0.12 |
0.01 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.04) |
(0.06) |
(0.07) |
(0.07) |
(0.06) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.04) |
(0.06) |
(0.07) |
(0.07) |
(0.06) |
Net
Asset Value, End of Period |
$2.85 |
$3.08 |
$3.05 |
$3.02 |
$2.97 |
Total
Return* |
(6.08)% |
2.82% |
3.42% |
4.19% |
0.29% |
Net
Assets, End of Period (in thousands) |
$442,881 |
$421,533 |
$380,901 |
$392,758 |
$453,776 |
Average
Net Assets for the Period (in thousands) |
$490,490 |
$412,021 |
$383,912 |
$414,017 |
$527,072 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.61% |
0.60% |
0.61% |
0.65% |
0.68% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.49% |
0.56% |
0.56% |
0.57% |
0.57% |
Ratio
of Net Investment Income/(Loss) |
1.28% |
1.69% |
2.27% |
2.43% |
1.91% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.07 |
$3.05 |
$3.01 |
$2.97 |
$3.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.04 |
0.06 |
0.07 |
0.08 |
0.06 |
Net
realized and unrealized gain/(loss) |
(0.22) |
0.02 |
0.05 |
0.04 |
(0.05) |
Total
from Investment Operations |
(0.18) |
0.08 |
0.12 |
0.12 |
0.01 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.05) |
(0.06) |
(0.08) |
(0.08) |
(0.06) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.05) |
(0.06) |
(0.08) |
(0.08) |
(0.06) |
Net
Asset Value, End of Period |
$2.84 |
$3.07 |
$3.05 |
$3.01 |
$2.97 |
Total
Return* |
(6.03)% |
2.61% |
3.89% |
3.95% |
0.37% |
Net
Assets, End of Period (in thousands) |
$45,088 |
$15,816 |
$17,144 |
$37,464 |
$61,806 |
Average
Net Assets for the Period (in thousands) |
$29,059 |
$16,326 |
$41,174 |
$64,559 |
$43,541 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.50% |
0.50% |
0.49% |
0.55% |
0.61% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.41% |
0.44% |
0.44% |
0.47% |
0.50% |
Ratio
of Net Investment Income/(Loss) |
1.39% |
1.80% |
2.34% |
2.53% |
2.11% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
|
Years ended June
30 | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$3.08 |
$3.06 |
$3.02 |
$2.98 |
$3.03 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.03 |
0.05 |
0.06 |
0.07 |
0.05 |
Net
realized and unrealized gain/(loss) |
(0.22) |
0.02 |
0.05 |
0.04 |
(0.05) |
Total
from Investment Operations |
(0.19) |
0.07 |
0.11 |
0.11 |
— |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.04) |
(0.05) |
(0.07) |
(0.07) |
(0.05) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.04) |
(0.05) |
(0.07) |
(0.07) |
(0.05) |
Net
Asset Value, End of Period |
$2.85 |
$3.08 |
$3.06 |
$3.02 |
$2.98 |
Total
Return* |
(6.23)% |
2.36% |
3.63% |
3.70% |
0.13% |
Net
Assets, End of Period (in thousands) |
$294,579 |
$403,560 |
$427,052 |
$521,348 |
$770,913 |
Average
Net Assets for the Period (in thousands) |
$353,907 |
$424,193 |
$473,636 |
$628,515 |
$986,661 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.73% |
0.73% |
0.74% |
0.80% |
0.84% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.65% |
0.69% |
0.69% |
0.71% |
0.73% |
Ratio
of Net Investment Income/(Loss) |
1.10% |
1.56% |
2.14% |
2.27% |
1.74% |
Portfolio
Turnover Rate |
94%(2) |
112%(2) |
121% |
79% |
78% |
AMERIPRISE
FINANCIAL |
EDWARD
JONES |
MERRILL
LYNCH |
Front-end
Sales Load Waivers on Class A Shares available at Merrill
Lynch |
|
Employer-sponsored
retirement, deferred compensation and employee benefit plans (including
health savings accounts) and trusts used to
fund
those plans, provided that the shares are not held in a commission-based
brokerage account and shares are held for the benefit of the
plan |
Shares
purchased by a 529 Plan (does not include 529 Plan units or 529-specific
share classes or equivalents) |
Shares
purchased through a Merrill Lynch affiliated investment advisory
program |
Shares
exchanged due to the holdings moving from a Merrill Lynch affiliated
investment advisory program to a Merrill Lynch brokerage
(non-advisory)
account pursuant to Merrill Lynch’s policies relating to sales load
discounts and waivers |
Shares
purchased by third party investment advisors on behalf of their advisory
clients through Merrill Lynch’s platform |
Shares
of funds purchased through the Merrill Edge Self-Directed platform (if
applicable) |
Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment when purchasing shares of the same fund
(but
not any other fund within the fund family) |
Shares
exchanged from Class C (i.e. level-load) shares of the same fund pursuant
to Merrill Lynch’s policies relating to sales load discounts
and
waivers |
Employees
and registered representatives of Merrill Lynch or its affiliates and
their family members |
Directors
or Trustees of the Fund, and employees of the Fund’s investment adviser or
any of its affiliates, as described in the Fund’s
prospectus |
Eligible
shares purchased from the proceeds of redemptions within the same fund
family, provided (1) the repurchase occurs within
90
days following the redemption, (2) the redemption and purchase occur in
the same account, and (3) redeemed shares were subject to a
front-end
or deferred sales load (known as Rights of Reinstatement). Automated
transactions (i.e., systematic purchases and withdrawals)
and
purchases made after shares are automatically sold to pay Merrill Lynch’s
account maintenance fees are not eligible for
reinstatement |
CDSC
Waivers on A and C Shares available at Merrill
Lynch |
|
Death
or disability of the shareholder |
Shares
sold as part of a systematic withdrawal plan as described in the Fund’s
prospectus |
Return
of excess contributions from an IRA Account |
Shares
sold as part of a required minimum distribution for IRA and retirement
accounts pursuant to the Internal Revenue Code |
Shares
sold to pay Merrill Lynch fees but only if the transaction is initiated by
Merrill Lynch |
Shares
acquired through a right of reinstatement |
Shares
held in retirement brokerage accounts, that are exchanged for a lower cost
share class due to transfer to a fee based account or
platform
(applicable to A and C shares only) |
Shares
received through an exchange due to the holdings moving from a Merrill
Lynch affiliated investment advisory program to a Merrill
Lynch
brokerage (non-advisory) account pursuant to Merrill Lynch’s policies
relating to sales load discounts and
waivers |
Front-end
load Discounts Available at Merrill Lynch: Breakpoints, Rights of
Accumulation & Letters of Intent |
Breakpoints
as described in this prospectus |
Rights
of Accumulation (ROA) which entitle shareholders to breakpoint discounts
as described in the Fund’s prospectus will be
automatically
calculated based on the aggregated holding of fund family assets held by
accounts (including 529 program holdings, where
applicable)
within the purchaser’s household at Merrill Lynch. Eligible fund family
assets not held at Merrill Lynch may be included in the
ROA
calculation only if the shareholder notifies his or her financial advisor
about such assets |
Letters
of Intent (LOI) which allow for breakpoint discounts based on anticipated
purchases within a fund family, through Merrill Lynch,
over
a 13-month period of time (if
applicable) |
MORGAN
STANLEY |
RAYMOND
JAMES |
UBS
Financial Services Inc. |
Equity
and Debt Securities |
Futures,
Options, and Other
Derivatives |
Other
Investments, Strategies, and/or
Techniques |
Standard
& poor’s ratings services |
Bond
Rating |
Explanation |
Investment
Grade |
|
AAA |
Highest
rating; extremely strong capacity to pay principal and
interest. |
AA |
High
quality; very strong capacity to pay principal and
interest. |
A |
Strong
capacity to pay principal and interest; somewhat more susceptible to the
adverse effects of changing
circumstances
and economic conditions. |
BBB |
Adequate
capacity to pay principal and interest; normally exhibit adequate
protection parameters, but
adverse
economic conditions or changing circumstances more likely to lead to a
weakened capacity to pay
principal
and interest than for higher rated bonds. |
Non-Investment
Grade | |
BB |
Less
vulnerable to nonpayment than other speculative issues; major ongoing
uncertainties or exposure to
adverse
business, financial, or economic conditions which could lead to the
obligor’s inadequate capacity to
meet
its financial commitment on the obligation. |
B |
More
vulnerable to nonpayment than obligations rated “BB,” but capacity to meet
its financial commitment
on
the obligation; adverse business, financial, or economic conditions will
likely impair the obligor’s capacity
or
willingness to meet its financial commitment on the
obligation. |
CCC |
Currently
vulnerable to nonpayment, and is dependent upon favorable business,
financial, and economic
conditions
for the obligor to meet its financial commitment on the
obligation. |
CC |
Currently
highly vulnerable to nonpayment. |
C |
Currently
highly vulnerable to nonpayment; a bankruptcy petition may have been filed
or similar action
taken,
but payments on the obligation are being
continued. |
D |
In
default. |
fitch,
inc. |
Long-Term
Bond Rating |
Explanation |
Investment
Grade |
|
AAA |
Highest
credit quality. Denotes the lowest expectation of credit risk.
Exceptionally strong capacity for
payment
of financial commitments. |
AA
|
Very
high credit quality. Denotes expectations of very low credit risk. Very
strong capacity for payment of
financial
commitments. |
A
|
High
credit quality. Denotes expectations of low credit risk. Strong capacity
for payment of financial
commitments.
May be more vulnerable to changes in circumstances or in economic
conditions than is the
case
for higher ratings. |
BBB |
Good
credit quality. Currently expectations of low credit risk. Capacity for
payment of financial
commitments
is considered adequate, but adverse changes in circumstances and economic
conditions are
more
likely to impair this capacity than is the case for higher
ratings. |
Non-Investment
Grade |
|
BB
|
Speculative.
Indicates possibility of credit risk developing, particularly as the
result of adverse economic
change
over time. Business or financial alternatives may be available to allow
financial commitments to be
met. |
B
|
Highly
speculative. May indicate distressed or defaulted obligations with
potential for extremely high
recoveries. |
CCC
|
May
indicate distressed or defaulted obligations with potential for superior
to average levels of recovery. |
CC
|
May
indicate distressed or defaulted obligations with potential for average or
below-average levels of
recovery. |
C
|
May
indicate distressed or defaulted obligations with potential for
below-average to poor recoveries. |
D
|
In
default. |
Short-Term
Bond Rating |
Explanation |
F-1+ |
Exceptionally
strong credit quality. Issues assigned this rating are regarded as having
the strongest degree of
assurance
for timely payment. |
F-1 |
Very
strong credit quality. Issues assigned this rating reflect an assurance
for timely payment only slightly
less
in degree than issues rated F-1+. |
F-2 |
Good
credit quality. Issues assigned this rating have a satisfactory degree of
assurance for timely payments,
but
the margin of safety is not as great as the F-1+ and F-1
ratings. |
moody’s
investors service, inc. |
Bond
Rating* |
Explanation |
Investment
Grade |
|
Aaa
|
Highest
quality, smallest degree of investment risk. |
Aa
|
High
quality; together with Aaa bonds, they compose the high-grade bond
group. |
A
|
Upper-medium
grade obligations; many favorable investment
attributes. |
Baa
|
Medium-grade
obligations; neither highly protected nor poorly secured. Interest
payments and principal
security
appear adequate for the present but certain protective elements may be
lacking or may be unreliable
over
any great length of time. |
Non-Investment
Grade | |
Ba
|
More
uncertain, with speculative elements. Protection of interest and principal
payments not well
safeguarded
during good and bad times. |
B
|
Lack
characteristics of desirable investment; potentially low assurance of
timely interest and principal
payments
or maintenance of other contract terms over time. |
Caa
|
Poor
standing, may be in default; elements of danger with respect to principal
or interest payments. |
Ca
|
Speculative
in a high degree; could be in default or have other marked
shortcomings. |
C
|
Lowest
rated; extremely poor prospects of ever attaining investment
standing. |