|
Advisor
Shares | ||
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
1
Year |
3
Years |
5
Years |
10
Years | ||||||
$ |
|||||||||
|
3 |
|
|
4 |
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares1 |
|
||||||||||
Russell
1000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Large Blend Average2 |
|
|
|
1 |
2 |
|
5 |
|
|
6 |
|
|
Advisor
Shares | ||
|
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
1
Year |
3
Years |
5
Years |
10 Years
| ||||||
|
7 |
|
|
8 |
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
1000® Index1 (reflects no deduction for fees,
expenses or taxes) |
|
|
|
||||||||
Russell
1000® Growth Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Large Growth Average2 |
|
|
|
1 |
2 |
The Morningstar Large Growth Average is provided so
that investors may compare the performance of the Portfolio with the
performance of a peer group of funds that Morningstar, Inc. considers
similar to the Portfolio.
|
|
9 |
|
|
10 |
|
|
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
|||
1 |
|
1
Year |
3
Years |
5
Years |
10 Years
| ||||||
|
11 |
|
|
12 |
|
Past
1
Year |
Past
5
Years |
Since
Inception
( ) |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
1000® Index1 (reflects no deduction for fees,
expenses or taxes) |
|
|
|
||||||||
Russell
1000® Value Index (reflects no deduction for fees, expenses
or
taxes) |
|
|
|
||||||||
Morningstar
Large Value Average2 |
|
|
|
1 |
2 |
The Morningstar Large Value Average is provided so
that investors may compare the performance of the Portfolio with the
performance of a peer group of funds that Morningstar, Inc. considers
similar to the Portfolio.
|
|
13 |
|
|
14 |
|
|
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
|||
1 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
$ |
|||||||||
|
15 |
|
|
16 |
|
Past
1
Year |
Past
5
Years |
Since
Inception
( ) |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
2000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Small Blend Average1 |
|
|
|
1 |
|
17 |
|
|
18 |
|
|
|||
Management
Fees |
|||
Other
Expenses
(includes
0.25% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
1 |
|
1
Year |
3
Years |
5
Years |
10 Years
| ||||||
|
19 |
|
|
20 |
|
( |
( |
( |
( |
Past
1
Year |
Past
5
Years |
Past 10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
MSCI
World ex-USA Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Foreign Large Value Average1 |
|
|
|
1 |
|
21 |
|
|
22 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
|||
1 |
|
1
Year |
3
Years |
5
Years |
10 Years
| ||||||
|
23 |
|
|
24 |
|
( |
( |
|
25 |
|
Past
1
Year |
Past
5
Years |
Since
Inception
( ) |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
1000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Large Blend Average1 |
|
|
|
1 |
|
26 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
1 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
|
27 |
|
|
28 |
|
( |
( |
Past
1
Year |
Past
5
Years |
Since
Inception
( ) |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
1000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Large Value Average1 |
|
|
|
1 |
|
|
29 |
|
|
30 |
|
|
Advisor
Shares | ||
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Short
Sale Expenses |
|||
Total
Other Expenses |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
1 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
$ |
|||||||||
|
31 |
|
|
32 |
|
( |
( |
|
33 |
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares1 |
|||||||||||
Russell
3000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Bloomberg
U.S. Treasury Bellwether 3-Month Index (reflects no deduction for
fees,
expenses or taxes)2 |
|
|
|
||||||||
Blended
Index (reflects no deduction for fees, expenses or
taxes)3 |
|
|
|
||||||||
Morningstar
Long/Short Average4 |
|
|
|
1 |
|
2 |
|
3 |
|
4 |
|
|
34 |
|
|
35 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Short
Sale Expenses |
|||
Total
Other Expenses |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
1 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
|
36 |
|
|
37 |
|
( |
( |
( |
|
38 |
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
3000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Morningstar
Mid-Cap Value Average1 |
|
|
|
1 |
|
|
39 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes
0.20% shareholder servicing fees payable to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
1
Year |
3
Years |
5
Years |
10
Years | ||||||
|
40 |
|
|
41 |
|
( |
( |
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
S&P
500® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Dow
Jones Industrial Average Index (reflects no deduction for fees, expenses
or taxes) |
|
|
|
||||||||
Morningstar
Large Blend Average1 |
|
|
|
1 |
|
42 |
|
|
43 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes 0.20% shareholder servicing fees payable
to Glenmede Trust)1 |
|||
Total
Annual Portfolio Operating Expenses |
|||
Fee
Waivers and Expense Reimbursements1 |
|||
Net
Expenses |
1 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
$ |
|||||||||
|
44 |
|
|
45 |
|
( |
( |
Past
1
Year |
Past
5
Years |
Since
Inception
( ) |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
S&P
500® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Russell
1000® Value Index1 |
|
|
|
||||||||
Morningstar
Large Value Average2 |
|
|
|
1 |
2 |
|
|
46 |
|
|
47 |
|
|
Advisor
Shares | ||
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes 0.25% shareholder servicing fees payable
to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
1
Year |
3
Years |
5
Years |
10
Years | ||||||
$ |
|||||||||
|
48 |
|
|
49 |
|
( |
( |
( |
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
Russell
2000® Index (reflects no deduction for fees, expenses or
taxes) |
|
|
|
||||||||
Russell
2000® Value Index (reflects no deduction for fees, expenses or
taxes)1 |
|
|
|
||||||||
S&P
500® Index (reflects no deduction for fees, expenses or
taxes)2 |
|
|
|
||||||||
Morningstar
Small Blend Average3 |
|
|
|
1 |
|
2 |
The S&P 500® Index is provided so
that investors may compare the performance of the Portfolio with the
performance of a well-known index of leading U.S. companies.
|
3 |
The Morningstar Small Blend Average is provided so
that investors may compare the performance of the Portfolio with the
performance of a peer group of funds that Morningstar, Inc. considers
similar to the Portfolio.
|
|
50 |
|
|
51 |
|
|
Advisor
Shares | ||
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes 0.20% shareholder servicing fees payable
to Glenmede Trust) |
|||
Total
Annual Portfolio Operating Expenses |
1
Year |
3
Years |
5
Years |
10
Years | ||||||
|
52 |
|
|
53 |
|
( |
( |
|
54 |
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares |
|||||||||||
S&P
500® Index (reflects no deduction for fees, expenses or
taxes)1 |
|
|
|
||||||||
CBOE
S&P 500® PutWrite Index (reflects no deduction for fees,
expenses or taxes) |
|
|
|
1 |
|
|
55 |
|
Annual
Portfolio Operating Expenses
(expenses that you pay each
year as a percentage of the value of your
investment) |
|||
Management
Fees |
|||
Other
Expenses
(includes 0.20% shareholder servicing fees payable
to Glenmede Trust) |
|||
Acquired
Fund Fees and Expenses |
|||
Total
Annual Portfolio Operating Expenses1 |
|||
Fee
Waivers and Expense Reimbursements2 |
|||
Net
Expenses |
|||
1 |
|
2 |
|
1
Year |
3
Years |
5
Years |
10
Years | ||||||
|
56 |
|
|
57 |
|
|
58 |
|
( |
( |
( |
( |
Past
1
Year |
Past
5
Years |
Past
10
Years |
|||||||||
Return
Before Taxes |
|||||||||||
Return
After Taxes on Distributions |
|||||||||||
Return
After Taxes on Distributions and Sale of Fund Shares1 |
|||||||||||
MSCI
ACWI Index (reflects no deduction for fees, expenses or taxes) |
|
|
|
||||||||
Blended
PutWrite Index (reflects no deduction for fees, expenses or
taxes)2 |
|
|
|
1 |
2 |
|
59 |
|
|
60 |
|
|
61 |
|
|
62 |
|
|
63 |
|
• |
attempts
to distribute relatively low levels of taxable investment income by
investing in stocks with low dividend yields; |
• |
attempts
to hold taxes on realized capital gains to a minimum by investing
primarily in the securities of companies with above average earnings
predictability and stability which the Portfolio expects to hold for
several years; |
• |
attempts
to avoid realizing short-term capital gains; and
|
• |
sells
depreciated securities to offset realized capital gains, when consistent
with its overall investment approach, thus reducing capital gains
distributions. |
|
64 |
|
|
65 |
|
|
66 |
|
|
67 |
|
|
68 |
|
|
69 |
|
|
70 |
|
|
71 |
|
|
72 |
|
|
73 |
|
|
74 |
|
|
75 |
|
|
76 |
|
|
77 |
|
|
78 |
|
Portfolio |
Percentage
of Average Daily Net Assets * | ||
Quantitative
U.S. Large Cap Core Equity Portfolio – Advisor
Shares |
0.55% | ||
Quantitative
U.S. Large Cap Growth Equity Portfolio – Advisor
Shares
|
0.55% | ||
Quantitative
U.S. Large Cap Value Equity Portfolio |
0.55%* | ||
Quantitative
U.S. Small Cap Equity Portfolio |
0.55%* | ||
Quantitative
International Equity Portfolio |
0.75%** | ||
Responsible
ESG U.S. Equity Portfolio |
0.55%* | ||
Women
in Leadership U.S. Equity Portfolio |
0.55%* | ||
Quantitative
U.S. Long/Short Equity Portfolio – Advisor Shares |
1.20%*** | ||
Quantitative
U.S. Total Market Equity Portfolio |
1.20%*** | ||
Strategic
Equity Portfolio |
0.55% | ||
Equity
Income Portfolio |
0.55%* | ||
Small
Cap Equity Portfolio – Advisor Shares |
0.55% | ||
Secured
Options Portfolio – Advisor Shares |
0.55% | ||
Global
Secured Options Portfolio |
0.55%** | ||
* |
The
Advisor has contractually agreed to waive its fees and/or reimburse
expenses to the extent that the Quantitative U.S. Large Cap Value Equity
Portfolio’s, Quantitative U.S. Small Cap Equity Portfolio’s, Responsible
ESG U.S. Equity Portfolio’s, Women in Leadership U.S. Equity Portfolio’s
and Equity Income Portfolio’s annual total operating expenses exceed 0.85%
of such Portfolio’s average daily net assets (excluding Acquired Fund fees
and expenses, brokerage commissions, extraordinary items, interest and
taxes). The Advisor has contractually agreed to these waivers and/or
reimbursements until at least February 28, 2025. Shareholders will be
notified if these waivers and/or reimbursements are discontinued after
that date. |
** |
The
Advisor has contractually agreed to waive its fees and/or reimburse
expenses to the extent that the Quantitative International Equity
Portfolio’s and Global Secured Options Portfolio’s annual total operating
expenses exceed 1.00% of such Portfolio’s average daily net assets
(excluding Acquired Fund fees and expenses, brokerage commissions,
extraordinary items, interest and taxes). The Advisor has contractually
agreed to these waivers and/or reimbursements until at least
February 28, 2025. Shareholders will be notified if these waivers
and/or reimbursements are discontinued after that
date. |
*** |
The
Advisor has contractually agreed to waive a portion of its 1.20%
management fees so that after giving effect to such contractual waiver,
the management fees for the Quantitative U.S. Long/Short Equity and
Quantitative U.S. Total Market Equity Portfolios are each 0.85% of such
Portfolio’s average daily net assets. The Advisor has also contractually
agreed to waive an additional portion of its management fees and/or
reimburse these Portfolios to the extent that total annual operating
expenses of the Quantitative U.S. Long/Short Equity Portfolio’s Advisor
Shares and the Quantitative U.S. Total Market Equity Portfolio, exceed
1.25% of the average daily net assets of the Quantitative U.S. Long/Short
Equity Portfolio’s Advisor Shares and the Quantitative U.S. Total Market
Equity Portfolio (excluding Acquired Fund fees and expenses, short-sale
dividends, prime broker interest, brokerage commissions, taxes, interest,
and extraordinary expenses). The Advisor has contractually agreed to these
waivers and/or reimbursements until at least February 28, 2025.
Shareholders will be notified if these waivers and/or reimbursements are
discontinued after that date. |
|
79 |
|
|
80 |
|
|
81 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 25.15 | $ | 32.97 | $ | 24.99 | $ | 26.89 | $ | 27.88 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.23 | 0.26 | 0.23 | 0.29 | 0.35 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.78 | (4.01 | ) | 10.15 | (0.73 | ) | 1.18 | |||||||||||||
Total from investment operations | 1.01 | (3.75 | ) | 10.38 | (0.44 | ) | 1.53 | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.26 | ) | (0.27 | ) | (0.24 | ) | (0.29 | ) | (0.35 | ) | ||||||||||
Net realized capital gains | (4.61 | ) | (3.80 | ) | (2.16 | ) | (1.17 | ) | (2.17 | ) | ||||||||||
Total distributions | (4.87 | ) | (4.07 | ) | (2.40 | ) | (1.46 | ) | (2.52 | ) | ||||||||||
Net asset value, end of year | $ | 21.29 | $ | 25.15 | $ | 32.97 | $ | 24.99 | $ | 26.89 | ||||||||||
Total return | 4.42 | % | (12.89 | )% | 43.77 | % | (1.90 | )% | 6.42 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 712,481 | $ | 924,570 | $ | 1,255,795 | $ | 1,066,153 | $ | 1,674,687 | ||||||||||
Ratio of operating expenses to average net assets | 0.86 | %2 | 0.84 | %2 | 0.85 | %2 | 0.87 | % | 0.86 | % | ||||||||||
Ratio of net investment income to average net assets | 1.04 | % | 0.96 | % | 0.75 | % | 1.15 | % | 1.32 | % | ||||||||||
Portfolio turnover rate3 | 78 | % | 66 | % | 41 | % | 66 | % | 80 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the period.
|
2 |
The ratio of operating expenses excluding interest
expense was 0.86%, 0.84% and 0.85% for the years ended October 31,
2023, 2022 and 2021, respectively. |
3 |
Portfolio turnover is calculated at the fund level.
|
|
82 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 27.95 | $ | 40.64 | $ | 32.02 | $ | 33.08 | $ | 32.52 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.08 | 0.09 | 0.05 | 0.12 | 0.16 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.71 | (5.65 | ) | 13.33 | 3.19 | 4.86 | ||||||||||||||
Total from investment operations | 1.79 | (5.56 | ) | 13.38 | 3.31 | 5.02 | ||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.08 | ) | (0.09 | ) | (0.05 | ) | (0.14 | ) | (0.15 | ) | ||||||||||
Net realized capital gains | (1.93 | ) | (7.04 | ) | (4.71 | ) | (4.23 | ) | (4.31 | ) | ||||||||||
Total distributions | (2.01 | ) | (7.13 | ) | (4.76 | ) | (4.37 | ) | (4.46 | ) | ||||||||||
Net asset value, end of year | $ | 27.73 | $ | 27.95 | $ | 40.64 | $ | 32.02 | $ | 33.08 | ||||||||||
Total return | 6.84 | % | (16.67 | )% | 46.17 | % | 10.68 | % | 18.50 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 1,080,175 | $ | 1,211,342 | $ | 1,751,370 | $ | 1,659,543 | $ | 2,237,727 | ||||||||||
Ratio of operating expenses to average net assets | 0.86 | %2 | 0.84 | %2 | 0.85 | %2 | 0.88 | % | 0.86 | % | ||||||||||
Ratio of net investment income to average net assets | 0.27 | % | 0.28 | % | 0.15 | % | 0.40 | % | 0.53 | % | ||||||||||
Portfolio turnover rate3 | 78 | % | 85 | % | 49 | % | 69 | % | 80 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The ratio of operating expenses excluding interest
expense was 0.86%, 0.84% and 0.85% for the years ended October 31,
2023, 2022 and 2021, respectively. |
3 |
Portfolio turnover is calculated at the fund level.
|
|
83 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 12.37 | $ | 13.05 | $ | 9.03 | $ | 10.29 | $ | 9.82 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.23 | 0.21 | 0.18 | 0.20 | 0.21 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.39 | ) | (0.67 | ) | 4.02 | (1.26 | ) | 0.49 | ||||||||||||
Total from investment operations | (0.16 | ) | (0.46 | ) | 4.20 | (1.06 | ) | 0.70 | ||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.22 | ) | (0.22 | ) | (0.18 | ) | (0.20 | ) | (0.23 | ) | ||||||||||
Net realized capital gains | (0.49 | ) | — | — | — | — | ||||||||||||||
Total distributions | (0.71 | ) | (0.22 | ) | (0.18 | ) | (0.20 | ) | (0.23 | ) | ||||||||||
Net asset value, end of year | $ | 11.50 | $ | 12.37 | $ | 13.05 | $ | 9.03 | $ | 10.29 | ||||||||||
Total return2 | (1.46 | )% | (3.49 | )% | 46.66 | % | (10.19 | )% | 7.33 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 1,640 | $ | 1,665 | $ | 2,487 | $ | 1,588 | $ | 2,040 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 2.85 | % | 2.27 | % | 2.45 | % | 2.66 | % | 3.20 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets | 0.85 | % | 0.85 | %3 | 0.85 | % | 0.85 | % | 0.89 | % | ||||||||||
Ratio of net investment income to average net assets | 1.87 | % | 1.66 | % | 1.48 | % | 2.15 | % | 2.08 | % | ||||||||||
Portfolio turnover rate | 81 | % | 76 | % | 68 | % | 95 | % | 77 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
The ratio of operating expenses excluding interest
expense was 0.85% for the year ended October 31, 2022.
|
|
84 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 13.13 | $ | 15.05 | $ | 9.55 | $ | 10.39 | $ | 10.25 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.11 | 0.14 | 0.07 | 0.06 | 0.05 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.67 | ) | (0.57 | ) | 5.50 | (0.82 | ) | 0.17 | ||||||||||||
Total from investment operations | (0.56 | ) | (0.43 | ) | 5.57 | (0.76 | ) | 0.22 | ||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.11 | ) | (0.15 | ) | (0.07 | ) | (0.08 | ) | (0.08 | ) | ||||||||||
Net realized capital gains | (1.00 | ) | (1.34 | ) | — | — | — | |||||||||||||
Total distributions | (1.11 | ) | (1.49 | ) | (0.07 | ) | (0.08 | ) | (0.08 | ) | ||||||||||
Net asset value, end of year | $ | 11.46 | $ | 13.13 | $ | 15.05 | $ | 9.55 | $ | 10.39 | ||||||||||
Total return2 | (4.52 | )% | (2.97 | )% | 58.45 | % | (7.37 | )% | 2.19 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 1,450 | $ | 1,521 | $ | 1,556 | $ | 982 | $ | 1,061 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 3.06 | % | 3.49 | % | 3.45 | % | 4.63 | % | 4.12 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.90 | % | ||||||||||
Ratio of net investment income to average net assets | 0.91 | % | 1.03 | % | 0.53 | % | 0.65 | % | 0.53 | % | ||||||||||
Portfolio turnover rate | 85 | % | 94 | % | 84 | % | 101 | % | 133 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
|
85 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 12.27 | $ | 15.54 | $ | 12.05 | $ | 13.97 | $ | 13.26 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.32 | 0.42 | 0.36 | 0.26 | 0.39 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.54 | (3.15 | ) | 3.48 | (1.79 | ) | 0.73 | |||||||||||||
Total from investment operations | 1.86 | (2.73 | ) | 3.84 | (1.53 | ) | 1.12 | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.29 | ) | (0.54 | ) | (0.35 | ) | (0.37 | ) | (0.41 | ) | ||||||||||
Net return of capital | — | — | — | (0.02 | ) | — | ||||||||||||||
Total distributions | (0.29 | ) | (0.54 | ) | (0.35 | ) | (0.39 | ) | (0.41 | ) | ||||||||||
Net asset value, end of year | $ | 13.84 | $ | 12.27 | $ | 15.54 | $ | 12.05 | $ | 13.97 | ||||||||||
Total return2 | 15.09 | % | (17.89 | )% | 31.96 | % | (11.10 | )% | 8.60 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 22,601 | $ | 22,939 | $ | 41,069 | $ | 53,302 | $ | 205,629 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 1.32 | % | 1.27 | % | 1.19 | % | 1.15 | % | 1.10 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets | 1.00 | %3 | 1.00 | %3 | 1.00 | %3 | 1.00 | % | 1.00 | % | ||||||||||
Ratio of net investment income to average net assets | 2.22 | % | 2.93 | % | 2.40 | % | 1.99 | % | 2.90 | % | ||||||||||
Portfolio turnover rate | 84 | % | 91 | % | 79 | % | 76 | % | 93 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
The ratio of operating expenses after
waiver/reimbursement excluding interest expense was 1.00%, 1.00% and 1.00%
for the years ended October 31, 2023, 2022 and 2021, respectively.
|
|
86 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 16.10 | $ | 20.71 | $ | 14.26 | $ | 14.34 | $ | 14.12 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.16 | 0.18 | 0.14 | 0.15 | 0.16 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.21 | (2.86 | ) | 6.45 | (0.02 | ) | 0.74 | |||||||||||||
Total from investment operations | 0.37 | (2.68 | ) | 6.59 | 0.13 | 0.90 | ||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.15 | ) | (0.17 | ) | (0.14 | ) | (0.15 | ) | (0.17 | ) | ||||||||||
Net realized capital gains | (1.06 | ) | (1.76 | ) | — | (0.06 | ) | (0.51 | ) | |||||||||||
Total distributions | (1.21 | ) | (1.93 | ) | (0.14 | ) | (0.21 | ) | (0.68 | ) | ||||||||||
Net asset value, end of year | $ | 15.26 | $ | 16.10 | $ | 20.71 | $ | 14.26 | $ | 14.34 | ||||||||||
Total return2 | 2.35 | % | (14.02 | )% | 46.31 | % | 0.87 | % | 6.78 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 21,753 | $ | 23,923 | $ | 32,861 | $ | 22,342 | $ | 23,231 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 1.05 | % | 1.02 | % | 1.05 | % | 1.05 | % | 1.07 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets | 0.85 | %3 | 0.85 | %3 | 0.85 | % | 0.85 | % | 0.90 | % | ||||||||||
Ratio of net investment income to average net assets | 0.98 | % | 1.02 | % | 0.74 | % | 1.02 | % | 1.17 | % | ||||||||||
Portfolio turnover rate | 87 | % | 101 | % | 74 | % | 88 | % | 102 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
The ratio of operating expenses excluding interest
expense was 0.85% and 0.85% for the years ended October 31, 2023 and
2022, respectively. |
|
87 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 13.70 | $ | 19.27 | $ | 13.52 | $ | 13.98 | $ | 13.34 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.15 | 0.19 | 0.18 | 0.16 | 0.15 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.41 | (2.33 | ) | 5.75 | (0.47 | ) | 1.08 | |||||||||||||
Total from investment operations | 0.56 | (2.14 | ) | 5.93 | (0.31 | ) | 1.23 | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.16 | ) | (0.19 | ) | (0.18 | ) | (0.15 | ) | (0.15 | ) | ||||||||||
Net realized capital gains | (0.28 | ) | (3.24 | ) | — | — | (0.44 | ) | ||||||||||||
Total distributions | (0.44 | ) | (3.43 | ) | (0.18 | ) | (0.15 | ) | (0.59 | ) | ||||||||||
Net asset value, end of year | $ | 13.82 | $ | 13.70 | $ | 19.27 | $ | 13.52 | $ | 13.98 | ||||||||||
Total return2 | 4.14 | % | (13.15 | )% | 43.94 | % | (2.15 | )% | 9.75 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 19,515 | $ | 22,172 | $ | 27,887 | $ | 21,678 | $ | 21,047 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 1.06 | % | 1.05 | % | 1.04 | % | 1.08 | % | 1.11 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets | 0.85 | % | 0.85 | %3 | 0.85 | %3 | 0.85 | % | 0.90 | % | ||||||||||
Ratio of net investment income to average net assets | 1.04 | % | 1.27 | % | 1.01 | % | 1.19 | % | 1.14 | % | ||||||||||
Portfolio turnover rate | 83 | % | 105 | % | 81 | % | 105 | % | 89 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
The ratio of operating expenses after
waiver/reimbursement excluding interest expense was 0.85% and 0.85% for
the years ended October 31, 2022 and 2021, respectively.
|
|
88 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 14.06 | $ | 12.93 | $ | 11.05 | $ | 11.90 | $ | 12.55 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income (loss) | 0.34 | (0.03 | ) | (0.10 | ) | (0.07 | ) | 0.11 | ||||||||||||
Net realized and unrealized gain (loss) on investments | 0.42 | 1.16 | 1.98 | (0.77 | ) | (0.65 | ) | |||||||||||||
Total from investment operations | 0.76 | 1.13 | 1.88 | (0.84 | ) | (0.54 | ) | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.30 | ) | — | — | — | (0.11 | ) | |||||||||||||
Net return of capital | — | — | — | (0.01 | ) | — | ||||||||||||||
Total distributions | (0.30 | ) | — | — | (0.01 | ) | (0.11 | ) | ||||||||||||
Net asset value, end of year | $ | 14.52 | $ | 14.06 | $ | 12.93 | $ | 11.05 | $ | 11.90 | ||||||||||
Total return2 | 5.46 | %3 | 8.74 | %3 | 17.01 | % | (7.07 | )% | (4.33 | )% | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 41,895 | $ | 48,370 | $ | 56,002 | $ | 96,702 | $ | 247,209 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 2.93 | % | 2.76 | % | 2.88 | % | 2.99 | % | 2.78 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets4 | 2.49 | % | 2.36 | % | 2.51 | % | 2.63 | % | 2.43 | % | ||||||||||
Ratio of net investment income (loss) to average net assets | 2.38 | % | (0.25 | )% | (0.78 | )% | (0.59 | )% | 0.91 | % | ||||||||||
Portfolio turnover rate5,6 | 99 | % | 118 | % | 115 | % | 133 | % | 108 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
Includes adjustments in accordance with accounting
principles generally accepted in the United States of America and as such,
the net asset value for financial reporting purposes and the returns based
upon those net asset values may differ from the net asset value and
returns for shareholder transactions as shown in the management discussion
and analysis and as otherwise reported to shareholders.
|
4 |
The ratio of operating expenses after
waiver/reimbursement excluding interest expense, dividends on securities
sold short and flex fees was 1.25%, 1.25%, 1.25%, 1.25% and 1.21% for the
years ended October 31, 2023, 2022, 2021, 2020 and 2019,
respectively. |
5 |
Portfolio turnover is calculated at the fund
level. |
6 |
The calculation of the portfolio turnover rate
reflects the absolute value of the long and short positions.
|
|
89 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 17.81 | $ | 22.90 | $ | 15.34 | $ | 17.88 | $ | 18.85 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.09 | 0.07 | 0.03 | 0.07 | 0.11 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.71 | ) | (1.57 | ) | 9.45 | (1.52 | ) | 0.49 | ||||||||||||
Total from investment operations | (0.62 | ) | (1.50 | ) | 9.48 | (1.45 | ) | 0.60 | ||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.09 | ) | (0.08 | ) | (0.03 | ) | (0.11 | ) | (0.11 | ) | ||||||||||
Net realized capital gains | — | (3.51 | ) | (1.89 | ) | (0.98 | ) | (1.46 | ) | |||||||||||
Total distributions | (0.09 | ) | (3.59 | ) | (1.92 | ) | (1.09 | ) | (1.57 | ) | ||||||||||
Net asset value, end of year | $ | 17.10 | $ | 17.81 | $ | 22.90 | $ | 15.34 | $ | 17.88 | ||||||||||
Total return2 | (3.50 | )% | (7.76 | )% | 66.37 | % | (8.82 | )% | 4.11 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 35,860 | $ | 43,836 | $ | 35,961 | $ | 28,447 | $ | 67,923 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 2.42 | % | 2.36 | % | 2.23 | % | 2.56 | % | 2.48 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets3 | 2.01 | % | 1.99 | % | 1.83 | % | 2.06 | % | 2.07 | % | ||||||||||
Ratio of net investment income to average net assets | 0.49 | % | 0.39 | % | 0.15 | % | 0.45 | % | 0.60 | % | ||||||||||
Portfolio turnover rate4 | 84 | % | 95 | % | 71 | % | 98 | % | 92 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
The ratio of operating expenses after
waiver/reimbursement excluding interest expense, dividends on securities
sold short and flex fees was 1.25%, 1.25%, 1.25%, 1.25% and 1.25% for the
years ended October 31, 2023, 2022, 2021, 2020 and 2019,
respectively. |
4 |
The calculation of the portfolio turnover rate
reflects the absolute value of the long and short positions.
|
|
90 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 27.45 | $ | 35.56 | $ | 26.43 | $ | 27.22 | $ | 24.30 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.14 | 0.12 | 0.12 | 0.21 | 0.23 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 2.45 | (4.56 | ) | 10.73 | (0.25 | ) | 3.22 | |||||||||||||
Total from investment operations | 2.59 | (4.44 | ) | 10.85 | (0.04 | ) | 3.45 | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.15 | ) | (0.12 | ) | (0.13 | ) | (0.22 | ) | (0.23 | ) | ||||||||||
Net realized capital gains | (2.04 | ) | (3.55 | ) | (1.59 | ) | (0.53 | ) | (0.30 | ) | ||||||||||
Total distributions | (2.19 | ) | (3.67 | ) | (1.72 | ) | (0.75 | ) | (0.53 | ) | ||||||||||
Net asset value, end of year | $ | 27.85 | $ | 27.45 | $ | 35.56 | $ | 26.43 | $ | 27.22 | ||||||||||
Total return | 9.98 | % | (13.95 | )% | 42.57 | % | (0.18 | )% | 14.51 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 165,886 | $ | 191,646 | $ | 268,648 | $ | 219,447 | $ | 269,033 | ||||||||||
Ratio of operating expenses to average net assets | 0.86 | %2 | 0.85 | %2 | 0.85 | % | 0.86 | % | 0.84 | % | ||||||||||
Ratio of net investment income to average net assets | 0.50 | % | 0.39 | % | 0.38 | % | 0.79 | % | 0.89 | % | ||||||||||
Portfolio turnover rate | 14 | % | 20 | % | 14 | % | 19 | % | 19 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the period.
|
2 |
The ratio of operating expenses excluding interest
expense was 0.86% and 0.85% for the years ended October 31, 2023 and
2022, respectively. |
|
91 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 14.58 | $ | 15.92 | $ | 11.88 | $ | 12.22 | $ | 11.15 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.25 | 0.23 | 0.22 | 0.26 | 0.25 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | (0.31 | ) | (0.63 | ) | 4.05 | (0.32 | ) | 1.33 | ||||||||||||
Total from investment operations | (0.06 | ) | (0.40 | ) | 4.27 | (0.06 | ) | 1.58 | ||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.25 | ) | (0.23 | ) | (0.23 | ) | (0.28 | ) | (0.25 | ) | ||||||||||
Net realized capital gains | (0.42 | ) | (0.71 | ) | — | — | (0.26 | ) | ||||||||||||
Total distributions | (0.67 | ) | (0.94 | ) | (0.23 | ) | (0.28 | ) | (0.51 | ) | ||||||||||
Net asset value, end of year | $ | 13.85 | $ | 14.58 | $ | 15.92 | $ | 11.88 | $ | 12.22 | ||||||||||
Total return2 | (0.60 | )% | (2.70 | )% | 36.12 | % | (0.38 | )% | 14.69 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 18,499 | $ | 21,902 | $ | 22,296 | $ | 18,560 | $ | 23,900 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets | 1.00 | % | 0.97 | % | 1.10 | % | 1.04 | %3 | 1.01 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to averagenet assets | 0.85 | %4 | 0.85 | % | 0.85 | % | 0.85 | %3 | 0.85 | % | ||||||||||
Ratio of net investment income to average net assets | 1.74 | % | 1.57 | % | 1.53 | % | 2.21 | %3 | 2.19 | % | ||||||||||
Portfolio turnover rate | 21 | % | 15 | % | 27 | % | 63 | % | 39 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
3 |
This ratio does not include the expenses for any
exchange-traded funds held in the
Portfolio. |
4 |
The ratio of operating expenses excluding interest
expense was 0.85% for the year ended October 31, 2023.
|
|
92 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 33.04 | $ | 37.06 | $ | 23.23 | $ | 23.66 | $ | 28.82 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income | 0.16 | 0.12 | — | 0.02 | 0.05 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | (1.07 | ) | (2.47 | ) | 13.87 | (0.41 | ) | (1.04 | ) | |||||||||||
Total from investment operations | (0.91 | ) | (2.35 | ) | 13.87 | (0.39 | ) | (0.99 | ) | |||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.18 | ) | (0.11 | ) | (0.04 | ) | (0.04 | ) | (0.07 | ) | ||||||||||
Net realized capital gains | (3.55 | ) | (1.56 | ) | — | — | (4.09 | ) | ||||||||||||
Net return of capital | — | — | — | (0.00 | )2 | (0.01 | ) | |||||||||||||
Total distributions | (3.73 | ) | (1.67 | ) | (0.04 | ) | (0.04 | ) | (4.17 | ) | ||||||||||
Net asset value, end of year | $ | 28.40 | $ | 33.04 | $ | 37.06 | $ | 23.23 | $ | 23.66 | ||||||||||
Total return | (3.04 | )% | (6.59 | )% | 59.75 | % | (1.63 | )% | (2.61 | )% | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 412,521 | $ | 468,157 | $ | 530,401 | $ | 403,309 | $ | 761,813 | ||||||||||
Ratio of operating expenses to average net assets | 0.95 | %3 | 0.93 | %3 | 0.92 | %3 | 0.94 | % | 0.93 | % | ||||||||||
Ratio of net investment income to average net assets | 0.51 | % | 0.35 | % | 0.01 | % | 0.11 | % | 0.21 | % | ||||||||||
Portfolio turnover rate4 | 20 | % | 28 | % | 41 | % | 36 | % | 54 | % |
1 |
Per net investment income (loss) has been
calculated using the average shares outstanding during the
period. |
2 |
Amount rounds to less than $0.01 per share.
|
3 |
The ratio of operating expenses excluding interest
expense was 0.95%, 0.93% and 0.92% for the years ended October 31,
2023, 2022 and 2021, respectively. |
4 |
Portfolio turnover is calculated at the fund level.
|
|
93 |
|
For The Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201 | 20191 | ||||||||||||||||
Net asset value, beginning of year | $ | 11.58 | $ | 14.83 | $ | 11.67 | $ | 13.01 | $ | 12.30 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income (loss) | 0.01 | (0.07 | ) | (0.11 | ) | (0.07 | ) | (0.04 | ) | |||||||||||
Net realized and unrealized gain (loss) on investments | 1.29 | (1.40 | ) | 3.27 | (0.34 | ) | 1.04 | |||||||||||||
Total from investment operations | 1.30 | (1.47 | ) | 3.16 | (0.41 | ) | 1.00 | |||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net realized capital gains | — | (1.78 | ) | — | (0.93 | ) | (0.29 | ) | ||||||||||||
Total distributions | — | (1.78 | ) | — | (0.93 | ) | (0.29 | ) | ||||||||||||
Net asset value, end of year | $ | 12.88 | $ | 11.58 | $ | 14.83 | $ | 11.67 | $ | 13.01 | ||||||||||
Total return | 11.23 | %2 | (11.29 | )% | 27.08 | % | (3.50 | )% | 8.43 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 56,074 | $ | 70,447 | $ | 90,143 | $ | 95,701 | $ | 268,478 | ||||||||||
Ratio of operating expenses to average net assets3 | 0.86 | %4 | 0.85 | % | 0.86 | % | 0.88 | % | 0.87 | %4 | ||||||||||
Ratio of net investment income (loss) to average net assets3 | 0.08 | % | (0.55 | )% | (0.77 | )% | (0.59 | )% | (0.34 | )% | ||||||||||
Portfolio turnover rate5,6 | —% | —% | —% | —% | —% |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the period.
|
2 |
Includes adjustments in accordance with accounting
principles generally accepted in the United States of America and as such,
the net asset value for financial reporting purposes and the returns based
upon those net asset values may differ from the net asset value and
returns for shareholder transactions as shown in the management discussion
and analysis and as otherwise reported to shareholders.
|
3 |
This ratio does not include the expenses for any
exchange-traded funds held in the Portfolio.
|
4 |
The ratio of operating expenses excluding interest
expense was 0.86% and 0.86% for the years ended October 31, 2023 and
2019, respectively. |
5 |
Portfolio turnover is calculated at the fund level.
|
6 |
All trading activity in the Portfolio during the
year was short term and is excluded for portfolio turnover calculations
resulting in zero portfolio turnover percentage.
|
|
94 |
|
For the Year Ended October 31, | ||||||||||||||||||||
20231 | 20221 | 20211 | 20201,2 | 20191,2 | ||||||||||||||||
Net asset value, beginning of year | $ | 4.25 | $ | 5.64 | $ | 4.84 | $ | 4.90 | $ | 104.10 | ||||||||||
Income from investment operations: | ||||||||||||||||||||
Net investment income (loss) | 0.02 | (0.02 | ) | (0.05 | ) | (0.04 | ) | 0.02 | ||||||||||||
Net realized and unrealized gain (loss) on investments | 0.52 | (0.64 | ) | 1.07 | (0.02 | ) | (5.71 | ) | ||||||||||||
Total from investment operations | 0.54 | (0.66 | ) | 1.02 | (0.06 | ) | (5.69 | ) | ||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||
Net investment income | (0.00 | )3 | — | — | (0.00 | )3 | (0.01 | ) | ||||||||||||
Net realized capital gains | — | (0.73 | ) | (0.22 | ) | — | (93.50 | ) | ||||||||||||
Total distributions | (0.00 | )3 | (0.73 | ) | (0.22 | ) | (0.00 | )3 | (93.51 | ) | ||||||||||
Net asset value, end of year | $ | 4.79 | $ | 4.25 | $ | 5.64 | $ | 4.84 | $ | 4.90 | ||||||||||
Total return4 | 12.74 | % | (13.35 | )% | 21.59 | % | (1.07 | )% | 8.56 | % | ||||||||||
Ratios to average net assets/Supplemental data: | ||||||||||||||||||||
Net assets, at end of year (in 000s) | $ | 22,470 | $ | 20,062 | $ | 17,152 | $ | 9,648 | $ | 1,220 | ||||||||||
Ratio of operating expenses before waiver/reimbursement to average net assets5 | 1.15 | % | 1.22 | % | 1.30 | % | 2.13 | % | 9.76 | % | ||||||||||
Ratio of operating expenses after waiver/reimbursement to average net assets5 | 1.00 | %6 | 1.00 | %6 | 1.00 | % | 1.00 | % | 1.63 | %6 | ||||||||||
Ratio of net investment income to average net assets5 | 0.34 | % | (0.46 | )% | (0.96 | )% | (0.83 | )% | 0.32 | % | ||||||||||
Portfolio turnover rate | 117 | % | 152 | % | — | %7 | 995 | % | 685 | % |
1 |
Per share net investment income (loss) has been
calculated using the average shares outstanding during the period.
|
2 |
The Board authorized a 1-for-10 reverse share split
for the Global Secured Options Portfolio effective after the close of
trading on March 16, 2020. The impact of the reverse share split was
to decrease the number of shares outstanding by a factor of ten, while
increasing the NAV of shares outstanding by a factor of ten, resulting in
no effect to the net assets of the Portfolio. The financial statements for
the Portfolio have been adjusted to reflect the reverse share split.
|
3 |
Amount rounds to less than $0.01 per
share. |
4 |
The Total Return reflects fee waivers and/or
expense reimbursements in effect and would have been lower in their
absence. |
5 |
This ratio does not include the expenses for any
exchange-traded funds held in the Portfolio.
|
6 |
The ratio of operating expenses after
waiver/reimbursement excluding interest expense was 1.00% and 1.00% for
the years ended October 31, 2023 and 2022, respectively and the ratio
of operating expenses after waiver/reimbursement excluding dividends on
securities sold short and interest expense was 1.62% for the year ended
October 31, 2019. |
7 |
All trading activity in the Portfolio during the
year was short term and is excluded for portfolio turnover calculations
resulting in zero portfolio turnover percentage.
|
|
95 |
|
|
96 |
|