PRUDENTIAL
DAY ONE INCOME FUND | |||||
R1:
PDADX |
R2:
PDAEX |
R3:
PDAFX |
R4:
PDAGX |
R5:
PDAHX |
R6:
PDAJX |
PRUDENTIAL
DAY ONE 2015 FUND | |||||
R1:
PDCDX |
R2:
PDCEX |
R3:
PDCFX |
R4:
PDCGX |
R5:
PDCHX |
R6:
PDCJX |
PRUDENTIAL
DAY ONE 2020 FUND | |||||
R1:
PDDDX |
R2:
PDDEX |
R3:
PDDFX |
R4:
PDDGX |
R5:
PDDHX |
R6:
PDDJX |
PRUDENTIAL
DAY ONE 2025 FUND | |||||
R1:
PDEDX |
R2:
PDEEX |
R3:
PDEFX |
R4:
PDEGX |
R5:
PDEHX |
R6:
PDEJX |
PRUDENTIAL
DAY ONE 2030 FUND | |||||
R1:
PDFCX |
R2:
PDFEX |
R3:
PDFFX |
R4:
PDFGX |
R5:
PDFHX |
R6:
PDFJX |
PRUDENTIAL
DAY ONE 2035 FUND | |||||
R1:
PDGCX |
R2:
PDGEX |
R3:
PDGFX |
R4:
PDGGX |
R5:
PDGHX |
R6:
PDGJX |
PRUDENTIAL
DAY ONE 2040 FUND | |||||
R1:
PDHDX |
R2:
PDHEX |
R3:
PDHFX |
R4:
PDHGX |
R5:
PDHHX |
R6:
PDHJX |
PRUDENTIAL
DAY ONE 2045 FUND | |||||
R1:
PDIDX |
R2:
PDIEX |
R3:
PDIKX |
R4:
PDIGX |
R5:
PDIHX |
R6:
PDIJX |
PRUDENTIAL
DAY ONE 2050 FUND | |||||
R1:
PDJDX |
R2:
PDJEX |
R3:
PDJFX |
R4:
PDJGX |
R5:
PDJHX |
R6:
PDJJX |
PRUDENTIAL
DAY ONE 2055 FUND | |||||
R1:
PDKDX |
R2:
PDKEX |
R3:
PDKFX |
R4:
PDKGX |
R5:
PDKHX |
R6:
PDKJX |
PRUDENTIAL
DAY ONE 2060 FUND | |||||
R1:
PDLDX |
R2:
PDLEX |
R3:
PDLFX |
R4:
PDLGX |
R5:
PDLHX |
R6:
PDLJX |
PRUDENTIAL
DAY ONE 2065 FUND | |||||
R1:
PDOAX |
R2:
PDODX |
R3:
PDOEX |
R4:
PDOFX |
R5:
PDOGX |
R6:
PDOHX |
The
Securities and Exchange Commission
(SEC)
has not approved or disapproved the
Funds'
shares, nor has the SEC determined
that
this prospectus is complete or accurate.
It is
a criminal offense to state otherwise. Mutual
funds are distributed by Prudential
Investment
Management Services LLC, a
Prudential
Financial company, member SIPC.
PGIM
Quantitative Solutions LLC is a wholly
owned
subsidiary of PGIM, Inc. (PGIM), a
Prudential
Financial company. © 2022
Prudential
Financial, Inc. and its related
entities.
The Prudential logo and the Rock
symbol
are service marks of Prudential
Financial,
Inc. and its related entities,
registered
in many jurisdictions worldwide. |
|
5 |
|
5 |
|
5 |
|
6 |
|
12 |
|
12 |
|
12 |
|
13 |
|
14 |
|
14 |
|
14 |
|
15 |
|
22 |
|
22 |
|
22 |
|
23 |
|
24 |
|
24 |
|
24 |
|
25 |
|
32 |
|
32 |
|
32 |
|
33 |
|
34 |
|
34 |
|
34 |
|
35 |
|
42 |
|
42 |
|
42 |
|
43 |
|
44 |
|
44 |
|
44 |
|
45 |
|
52 |
|
52 |
|
52 |
|
53 |
|
54 |
|
54 |
|
54 |
|
55 |
62 |
|
62 |
|
62 |
|
63 |
|
64 |
|
64 |
|
64 |
|
65 |
|
72 |
|
72 |
|
72 |
|
73 |
|
74 |
|
74 |
|
74 |
|
75 |
|
82 |
|
82 |
|
82 |
|
83 |
|
84 |
|
84 |
|
84 |
|
85 |
|
92 |
|
92 |
|
92 |
|
93 |
|
94 |
|
94 |
|
94 |
|
95 |
|
102 |
|
102 |
|
102 |
|
103 |
|
104 |
|
104 |
|
104 |
|
105 |
|
112 |
|
112 |
|
112 |
|
113 |
|
114 |
114 |
|
114 |
|
115 |
|
122 |
|
122 |
|
123 |
|
123 |
|
124 |
|
124 |
|
140 |
|
145 |
|
155 |
|
155 |
|
155 |
|
155 |
|
156 |
|
156 |
|
156 |
|
157 |
|
157 |
|
157 |
|
159 |
|
160 |
|
160 |
|
164 |
|
166 |
|
171 |
|
244 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses or taxes) (as of
12-31-21) | ||||
Prudential
Day One Income Custom Benchmark |
|
|
|
|
S&P
Target Date Retirement Income Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2015 Custom Benchmark |
|
|
|
|
S&P
Target Date 2015 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2020 Custom Benchmark |
|
|
|
|
S&P
Target Date 2020 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2025 Custom Benchmark |
|
|
|
|
S&P
Target Date 2025 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2030 Custom Benchmark |
|
|
|
|
S&P
Target Date 2030 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2035 Custom Benchmark |
|
|
|
|
S&P
Target Date 2035 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(2) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2040 Custom Benchmark |
|
|
|
|
S&P
Target Date 2040 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(3) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2045 Custom Benchmark |
|
|
|
|
S&P
Target Date 2045 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(3) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2050 Custom Benchmark |
|
|
|
|
S&P
Target Date 2050 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(3) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2055 Custom Benchmark |
|
|
|
|
S&P
Target Date 2055 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(3) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Five
Years |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
|
Class R2
shares |
|
|
|
|
Class R3
shares |
|
|
|
|
Class R4
shares |
|
|
|
|
Class R5
shares |
|
|
|
|
Class
R6 Shares % (as of 12-31-21) | ||||
Return
Before Taxes |
|
|
|
|
Return
After Taxes on Distributions |
|
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | ||||
Prudential
Day One 2060 Custom Benchmark |
|
|
|
|
S&P
Target Date 2060 Index |
|
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May
2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2016 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2016 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Maximum
sales charge (load) imposed on purchases (as a percentage of offering
price) |
|
|
|
|
|
|
Maximum
deferred sales charge (load) (as a percentage of the lower of the original
purchase
price
or the net asset value at redemption) |
|
|
|
|
|
|
Maximum
sales charge (load) imposed on reinvested dividends and other
distributions |
|
|
|
|
|
|
Redemption
fee |
|
|
|
|
|
|
Exchange
fee |
|
|
|
|
|
|
Maximum
account fee (accounts under $10,000) |
|
$ |
|
|
|
|
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Management
fee |
|
|
|
|
|
|
Distribution
(12b-1) fees |
|
|
|
|
|
|
Other
expenses: |
|
|
|
|
|
|
Shareholder
service fee(1)
|
|
|
|
|
|
|
Remainder
of other expenses(2) |
|
|
|
|
|
|
Acquired
Fund fees and expenses |
|
|
|
|
|
|
Total
annual Fund operating expenses |
|
|
|
|
|
|
Fee waiver
and/or expense reimbursement |
( |
( |
( |
( |
( |
( |
Total
annual Fund operating expenses after fee waiver and/or expense
reimbursement(3) |
|
|
|
|
|
|
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R2 |
$ |
$ |
$ |
$ |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
Return
Before Taxes |
One
Year |
Since
Inception |
Inception
Date |
Class R1
shares |
|
|
|
Class R2
shares |
|
|
|
Class R3
shares |
|
|
|
Class R4
shares |
|
|
|
Class R5
shares |
|
|
|
Class
R6 Shares % (as of 12-31-21) | |||
Return
Before Taxes |
|
|
|
Return
After Taxes on Distributions |
|
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Index
% (reflects no deduction for fees, expenses, or taxes) (as of
12-31-21) | |||
Prudential
Day One 2065 Custom Benchmark |
|
|
|
S&P
Target Date 2065+ Index |
|
|
|
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Quantitative Solutions LLC |
Lorne
Johnson, PhD |
Managing
Director
and
Portfolio Manager |
May 2020 |
|
|
Jeremy
Stempien |
Principal,
Portfolio
Manager and
Strategist |
December
2019 |
|
|
Joel M.
Kallman, CFA |
Vice
President and
Portfolio
Manager |
December
2019 |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
initial investment |
None |
None |
None |
None |
None |
None |
Minimum
subsequent investment |
None |
None |
None |
None |
None |
None |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Years |
Since
Inception1
|
CIT - Net
Return |
9.25% |
7.19% |
5.69% |
CIT - Gross
Return |
9.58% |
7.53% |
6.04% |
S&P
Target Date Retirement Income Index2 |
5.11% |
6.52% |
6.57% |
Prudential
Day One Income Benchmark3 |
9.35% |
7.45% |
- |
Prudential
Day One Custom Benchmark4 |
9.30% |
7.22% |
7.27% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
9.25% |
8.94% |
12.82% |
-2.47% |
7.96% |
6.16% |
-0.73% |
-0.87% |
CIT - Gross
Return |
9.58% |
9.29% |
13.19% |
-2.09% |
8.32% |
6.55% |
-0.39% |
-0.84% |
S&P
Target Date Retirement
Income
Index2 |
5.11% |
8.81% |
13.33% |
-2.54% |
8.54% |
5.01% |
-0.18% |
-0.35% |
Prudential
Day One Income
Benchmark3 |
9.35% |
9.78% |
12.75% |
-1.85% |
7.71% |
5.78% |
-0.69% |
-0.83% |
Prudential
Day One Custom
Benchmark4 |
9.30% |
8.78% |
13.46% |
-2.53% |
7.76% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Years |
Since
Inception1
|
CIT - Net
Return |
10.23% |
7.77% |
6.20% |
CIT - Gross
Return |
10.56% |
8.12% |
6.55% |
S&P
Target Date 2015 Index2 |
8.01% |
8.08% |
8.20% |
Prudential
Day One 2015 Benchmark3 |
10.32% |
8.12% |
- |
Prudential
Day One Custom Benchmark4 |
10.26% |
7.87% |
7.95% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
10.23% |
9.27% |
13.79% |
-2.64% |
9.32% |
6.74% |
-0.57% |
2.16% |
CIT - Gross
Return |
10.56% |
9.65% |
14.15% |
-2.92% |
9.68% |
7.06% |
-0.25% |
2.40% |
S&P
Target Date 2015
Index2 |
8.01% |
10.28% |
15.40% |
-3.67% |
11.39% |
6.56% |
-0.16% |
3.23% |
Prudential
Day One 2015
Benchmark3 |
10.32% |
10.27% |
13.82% |
-2.21% |
9.03% |
6.32% |
-0.56% |
5.25% |
Prudential
Day One Custom
Benchmark4 |
10.26% |
9.19% |
14.53% |
-2.89% |
9.07% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
11.40% |
8.39% |
6.73% |
CIT - Gross
Return |
11.78% |
8.74% |
7.09% |
S&P
Target Date 2020 Index2 |
8.76% |
8.60% |
8.75% |
Prudential
Day One 2020 Benchmark3 |
11.48% |
8.85% |
- |
Prudential
Day One Custom Benchmark4 |
11.40% |
8.57% |
8.65% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
11.40% |
9.58% |
14.97% |
-3.29% |
10.17% |
7.16% |
-0.44% |
2.55% |
CIT - Gross
Return |
11.78% |
9.91% |
15.36% |
-3.00% |
10.55% |
7.50% |
-0.05% |
2.78% |
S&P
Target Date 2020
Index2 |
8.76% |
10.24% |
16.52% |
-4.16% |
12.80% |
7.22% |
-0.19% |
3.40% |
Prudential
Day One 2020
Benchmark3 |
11.48% |
10.97% |
15.11% |
-2.53% |
9.97% |
6.74% |
-0.45% |
2.55% |
Prudential
Day One Custom
Benchmark4 |
11.40% |
9.76% |
15.83% |
-3.21% |
10.02% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
12.72% |
9.08% |
7.47% |
CIT - Gross
Return |
13.08% |
9.42% |
7.82% |
S&P
Target Date 2025 Index2 |
10.67% |
9.65% |
9.82% |
Prudential
Day One 2025 Benchmark3 |
12.80% |
9.60% |
- |
Prudential
Day One Custom Benchmark4 |
12.71% |
9.30% |
9.44% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
12.72% |
9.92% |
15.95% |
-3.89% |
11.81% |
8.08% |
-0.26% |
3.37% |
CIT - Gross
Return |
13.08% |
10.31% |
16.29% |
-3.59% |
12.19% |
8.45% |
0.10% |
3.60% |
S&P
Target Date 2025
Index2 |
10.67% |
11.22% |
18.38% |
-5.02% |
14.55% |
7.82% |
-0.25% |
3.27% |
Prudential
Day One 2025
Benchmark3 |
12.80% |
11.45% |
16.10% |
-3.03% |
11.63% |
7.65% |
-0.28% |
3.34% |
Prudential
Day One Custom
Benchmark4 |
12.71% |
10.17% |
16.82% |
-3.72% |
11.68% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
14.74% |
10.48% |
8.58% |
CIT - Gross
Return |
15.08% |
10.85% |
8.93% |
S&P
Target Date 2030 Index2 |
12.61% |
10.63% |
10.81% |
Prudential
Day One 2030 Benchmark3 |
14.80% |
11.19% |
- |
Prudential
Day One Custom Benchmark4 |
14.68% |
10.84% |
11.01% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
14.74% |
10.72% |
18.90% |
-5.03% |
14.82% |
8.97% |
-0.32% |
3.96% |
CIT - Gross
Return |
15.08% |
11.08% |
19.28% |
-4.72% |
15.21% |
9.24% |
0.07% |
4.19% |
S&P
Target Date 2030
Index2 |
12.61% |
11.91% |
20.38% |
-5.99% |
16.19% |
8.35% |
-0.30% |
3.36% |
Prudential
Day One 2030
Benchmark3 |
14.80% |
12.83% |
19.27% |
-4.06% |
14.55% |
8.65% |
-0.32% |
3.91% |
Prudential
Day One Custom
Benchmark4 |
14.68% |
11.38% |
20.00% |
-4.76% |
14.60% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
16.94% |
11.57% |
9.39% |
CIT - Gross
Return |
17.31% |
11.94% |
9.75% |
S&P
Target Date 2035 Index2 |
14.93% |
11.67% |
11.87% |
Prudential
Day One 2035 Benchmark3 |
16.96% |
12.50% |
- |
Prudential
Day One Custom Benchmark4 |
16.82% |
12.15% |
12.33% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
16.94% |
11.33% |
21.11% |
-6.19% |
16.90% |
9.37% |
-0.48% |
4.43% |
CIT - Gross
Return |
17.31% |
11.68% |
21.57% |
-5.91% |
17.29% |
9.76% |
-0.20% |
4.67% |
S&P
Target Date 2035
Index2 |
14.93% |
12.79% |
22.18% |
-6.88% |
17.78% |
8.85% |
-0.35% |
3.42% |
Prudential
Day One 2035
Benchmark3 |
16.96% |
14.17% |
21.78% |
-5.11% |
16.74% |
9.14% |
-0.40% |
4.39% |
Prudential
Day One Custom
Benchmark4 |
16.82% |
12.71% |
22.34% |
-5.70% |
16.78% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
18.11% |
12.14% |
9.76% |
CIT - Gross
Return |
18.50% |
12.50% |
10.12% |
S&P
Target Date 2040 Index2 |
16.55% |
12.40% |
12.60% |
Prudential
Day One 2040 Benchmark3 |
18.11% |
13.21% |
- |
Prudential
Day One Custom Benchmark4 |
17.96% |
12.84% |
13.05% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
18.11% |
11.55% |
22.07% |
-6.71% |
18.25% |
9.69% |
-0.87% |
4.54% |
CIT - Gross
Return |
18.50% |
11.89% |
22.42% |
-6.42% |
18.65% |
10.05% |
-0.56% |
4.78% |
S&P
Target Date 2040
Index2 |
16.55% |
13.37% |
23.37% |
-7.41% |
18.87% |
9.23% |
-0.40% |
3.45% |
Prudential
Day One 2040
Benchmark3 |
18.11% |
14.64% |
22.87% |
-5.44% |
18.12% |
9.46% |
-0.73% |
4.50% |
Prudential
Day One Custom
Benchmark4 |
17.96% |
13.16% |
23.46% |
-6.04% |
18.17% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
19.03% |
12.54% |
10.00% |
CIT - Gross
Return |
19.44% |
12.90% |
10.37% |
S&P
Target Date 2045 Index2 |
17.51% |
12.81% |
13.03% |
Prudential
Day One 2045 Benchmark3 |
19.07% |
13.71% |
- |
Prudential
Day One Custom Benchmark4 |
18.90% |
13.34% |
13.55% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
19.03% |
11.82% |
23.02% |
-7.41% |
19.01% |
9.75% |
-1.27% |
4.76% |
CIT - Gross
Return |
19.44% |
12.12% |
23.44% |
-7.09% |
19.41% |
10.19% |
-0.96% |
5.01% |
S&P
Target Date 2045
Index2 |
17.51% |
13.66% |
24.02% |
-7.74% |
19.56% |
9.54% |
-0.46% |
3.45% |
Prudential
Day One 2045
Benchmark3 |
19.07% |
15.07% |
23.92% |
-6.01% |
19.04% |
9.61% |
-1.06% |
4.74% |
Prudential
Day One Custom
Benchmark4 |
18.90% |
13.59% |
24.50% |
-6.61% |
19.09% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
19.49% |
12.74% |
10.02% |
CIT - Gross
Return |
19.87% |
13.11% |
10.38% |
S&P
Target Date 2050 Index2 |
17.99% |
13.07% |
13.30% |
Prudential
Day One 2050 Benchmark3 |
19.53% |
14.01% |
- |
Prudential
Day One Custom Benchmark4 |
19.35% |
13.62% |
13.84% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
19.49% |
11.74% |
23.36% |
-7.65% |
19.79% |
9.85% |
-1.31% |
-1.11% |
CIT - Gross
Return |
19.87% |
12.14% |
23.71% |
-7.37% |
20.19% |
10.15% |
-0.94% |
-1.08% |
S&P
Target Date 2050
Index2 |
17.99% |
13.86% |
24.35% |
-7.94% |
20.18% |
9.74% |
-0.47% |
-1.11% |
Prudential
Day One 2050
Benchmark3 |
19.53% |
15.21% |
24.39% |
-6.19% |
19.76% |
9.66% |
-1.08% |
-1.07% |
Prudential
Day One Custom
Benchmark4 |
19.35% |
13.73% |
24.95% |
-6.80% |
19.81% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
19.66% |
12.85% |
10.10% |
CIT - Gross
Return |
20.04% |
13.22% |
10.46% |
S&P
Target Date 2055 Index2 |
18.19% |
13.18% |
13.41% |
Prudential
Day One 2055 Benchmark3 |
19.53% |
14.01% |
- |
Prudential
Day One Custom Benchmark4 |
19.53% |
13.78% |
14.01% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
19.66% |
11.82% |
23.69% |
-8.23% |
20.50% |
10.05% |
-1.50% |
-1.14% |
CIT - Gross
Return |
20.04% |
12.16% |
24.12% |
-7.93% |
20.91% |
10.38% |
-1.14% |
-1.11% |
S&P
Target Date 2055
Index2 |
18.19% |
13.86% |
24.48% |
-7.97% |
20.48% |
9.94% |
-0.54% |
-1.14% |
Prudential
Day One 2055
Benchmark3 |
19.53% |
15.27% |
24.87% |
-6.67% |
20.56% |
9.93% |
-1.23% |
-1.09% |
Prudential
Day One Custom
Benchmark4 |
19.53% |
13.79% |
25.41% |
-7.29% |
20.61% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
19.80% |
12.91% |
10.14% |
CIT - Gross
Return |
20.16% |
13.28% |
10.50% |
S&P
Target Date 2060 Index2 |
18.05% |
13.28% |
13.52% |
Prudential
Day One 2060 Benchmark3 |
19.86% |
14.30% |
- |
Prudential
Day One Custom Benchmark4 |
19.67% |
13.90% |
14.13% |
Calendar
Year Returns (as of December 31, 2021) | ||||||||
|
2021 |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
20141
|
CIT - Net
Return |
19.80% |
11.81% |
24.10% |
-8.60% |
20.77% |
10.13% |
-1.47% |
5.01% |
CIT - Gross
Return |
20.16% |
12.18% |
24.49% |
-8.27% |
21.18% |
10.51% |
-1.11% |
5.27% |
S&P
Target Date 2060
Index2 |
18.05% |
13.99% |
24.73% |
-7.95% |
20.75% |
10.08% |
-0.66% |
3.50% |
Prudential
Day One 2060
Benchmark3 |
19.86% |
15.37% |
25.36% |
-7.02% |
20.93% |
10.03% |
-1.23% |
4.96% |
Prudential
Day One Custom
Benchmark4 |
19.67% |
13.87% |
25.89% |
-7.64% |
20.98% |
N/A |
N/A |
N/A |
Annualized
Return (as of December 31, 2021) | |||
|
1
Year |
5
Year |
Since
Inception1
|
CIT - Net
Return |
19.93% |
— |
15.29% |
CIT - Gross
Return |
20.31% |
— |
15.65% |
S&P
Target Date 2065 Index2 |
18.17% |
13.30% |
16.06% |
Prudential
Day One 2065 Benchmark3 |
20.01% |
16.40% |
- |
Prudential
Day One Custom Benchmark4 |
19.82% |
— |
16.80% |
Calendar
Year Returns (as of December 31, 2021) | ||
|
2021 |
2020 |
CIT - Net
Return |
19.93% |
N/A |
CIT - Gross
Return |
20.31% |
N/A |
S&P
Target Date 2065 Index1 |
18.17% |
13.99% |
Prudential
Day One 2065 Benchmark2 |
20.01% |
15.37% |
Prudential
Day One Custom Benchmark3 |
19.82% |
13.86% |
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
Equity |
PGIM
Jennison Small-Cap Core
Equity
Fund |
To
outperform the Russell 2000 Index. |
The Fund
invests, under normal
market
conditions, at least 80%
of its
investable assets in equity
and
equity-related securities of
small-cap
companies. |
|
PGIM Quant
Solutions
International
Developed Markets
Index
Fund |
To provide
investment results that approximate the performance
of the
FTSE Developed Markets Ex-North America Net Index. |
The Fund
intends to invest,
under
normal market conditions,
over 80%
of its investable
assets in
securities included in
the FTSE
Developed Markets
Ex-North
American Net Index in
approximately
the same
proportions
as those of the
Index. |
|
PGIM Quant
Solutions Emerging
Markets
Equity Fund |
To provide
returns in excess of the MSCI Emerging Markets Index
over full
market cycles. |
The Fund
seeks to achieve its
investment
objective by
investing,
under normal
conditions,
at least 80% of its
investable
assets (net assets
plus any
borrowings for
investment
purposes) in the
equity and
equity-related
securities
of companies located
in or
otherwise economically tied
to
emerging markets countries. |
|
PGIM Quant
Solutions Large-Cap
Core
Fund |
Long-term
growth of capital. |
The Fund
normally invests at
least 80%
of its investable
assets in
equity and
equity-related
securities of large
capitalization
U.S. companies.
The Fund
considers large
capitalization
companies to be
those with
market
capitalizations
within the
market cap
range of companies
included
in the Russell 1000
Index or
the S&P 500 Index. |
|
PGIM Quant
Solutions Mid-Cap
Core
Fund |
To
outperform the S&P MidCap 400 Index. |
The Fund
invests, under normal
market
conditions, at least 80%
of its
investable assets in equity
and
equity-related securities of
mid-capitalization
U.S.
companies.
|
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
|
PGIM Quant
Solutions US Broad
Market
Index Fund |
To provide
investment results that approximate the performance
of the
S&P Composite 1500 Index. |
The Fund
invests, under normal
market
conditions, invest over
80% of its
investable assets in
securities
included in the S&P
Composite
1500 Index in
approximately
the same
proportions
as those of the S&P
Composite
1500 Index. |
Fixed
Income |
PGIM Core
Conservative Bond
Fund |
To
outperform the Bloomberg US Aggregate Bond Index over full
market
cycles. |
The Fund
invests at least 80%
of its
investable assets in bonds
under
normal circumstances.
For
purposes of this investment
policy,
bonds include all fixed
income
securities, including but
not
limited to debt obligations
issued by
the U.S. Government
and its
agencies, corporate debt
securities,
mortgage-related
securities
and asset-backed
securities.
In pursuit of this
investment
policy, the Fund may
invest a
large percentage of its
investable
assets in securities
included
in the Bloomberg US
Aggregate
Bond Index. |
|
PGIM TIPS
Fund |
To
outperform the Bloomberg US Treasury Inflation-Protected
Securities
(TIPS) Index. |
The Fund
invests, under normal
circumstances,
at least 80% of
its
investable assets in U.S.
Treasury
Inflation-Protected
Securities. |
|
PGIM Total
Return Bond Fund |
Total
return. |
The Fund
seeks to achieve its
objective
through a mix of
current
income and capital
appreciation
as determined by
the Fund's
subadviser. The Fund
invests,
under normal
circumstances,
at least 80% of
its
investable assets in bonds.
For
purposes of this policy,
bonds
include all fixed income
securities,
other than preferred
stock,
with a maturity at date of
issue of
greater than one year. |
|
PGIM Core
Ultra-Short Bond
Fund |
Current
income consistent with the preservation of capital and
the
maintenance of liquidity. |
The Fund
invests in a diversified
portfolio
of short-term debt
obligations
issued by the U.S.
Government,
its agencies and
instrumentalities,
as well as
commercial
paper, asset-backed
securities,
funding agreements,
variable
rate demand notes,
bills,
notes and other
obligations
issued by banks,
corporations
and other
companies
(including trust
structures),
obligations issued
by foreign
banks, companies or
foreign
governments, and
municipal
bonds and notes.
|
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
Real
Estate |
PGIM
Global Real Estate Fund |
Capital
appreciation and income. |
The Fund
normally invests at
least 80%
of its investable
assets
(net assets plus any
borrowings
made for investment
purposes)
in the equity-related
securities
of real estate
companies,
principally real
estate
investment trusts (REITs),
and other
real estate securities. |
Commodities |
PGIM Quant
Solutions
Commodity
Strategies Fund |
To seek to
generate returns over time in excess of the Bloomberg
Commodity
Index. |
The Fund,
which is actively
managed,
gains exposure to the
commodity
markets through
investment
of the Fund’s assets
directly
and/or in the PGIM
Commodity
Strategies
Subsidiary
Ltd., the Fund’s
wholly-owned
Cayman Islands
subsidiary.
The Fund may hold a
significant
portion of its assets
directly
or indirectly in cash
and/or
invest in money market
instruments,
including
commercial
paper of a company,
government
securities,
sovereign
debt, certificates of
deposit,
bankers' acceptances,
time
deposits of banks, and
obligations
issued or
guaranteed
by a government or
its
agencies or
instrumentalities. |
Target
Allocations for Underlying Funds | |||||||||||||
Category |
Fund
Name |
2065 |
2060 |
2055 |
2050 |
2045 |
2040 |
2035 |
2030 |
2025 |
2020 |
2015 |
Income |
Domestic
Equity |
PGIM
Quant
Solutions
US Broad
Market
Index
Fund |
16.50% |
16.50% |
16.50% |
16.50% |
16.10% |
15.54% |
14.56% |
11.64% |
8.96% |
7.80% |
7.02% |
6.30% |
PGIM
Quant
Solutions
Large-Cap
Core
Fund |
25.00% |
25.00% |
25.50% |
25.67% |
24.34% |
24.11% |
23.14% |
19.71% |
17.46% |
15.12% |
12.78% |
11.70% | |
PGIM
Quant
Solutions
Mid-Cap
Core
Fund |
9.15% |
9.15% |
8.79% |
8.23% |
7.80% |
5.98% |
3.83% |
2.83% |
1.99% |
1.74% |
1.30% |
1.00% | |
PGIM
Jennison
Small-Cap
Core
Equity
Fund |
5.00% |
5.00% |
5.00% |
5.00% |
4.92% |
4.50% |
3.77% |
2.83% |
1.99% |
1.74% |
1.30% |
1.00% | |
International
Equity |
PGIM
Quant
Solutions
International
Developed
Markets
Index
Fund |
24.95% |
23.95% |
22.81% |
21.40% |
19.04% |
15.87% |
13.30% |
10.59% |
8.20% |
6.60% |
5.60% |
5.00% |
PGIM
Quant
Solutions
Emerging
Markets
Equity
Fund |
9.00% |
8.60% |
7.60% |
6.60% |
5.60% |
4.20% |
2.60% |
1.20% |
0.00% |
0.00% |
0.00% |
0.00% | |
Non-
Traditional |
PGIM
Global
Real
Estate
Fund |
4.00% |
4.00% |
4.00% |
4.00% |
4.00% |
4.00% |
4.40% |
5.00% |
5.00% |
5.00% |
5.00% |
5.00% |
PGIM
Quant
Solutions
Commodity
Strategies
Fund |
3.00% |
3.00% |
3.00% |
3.00% |
3.40% |
4.00% |
4.00% |
4.40% |
5.00% |
5.00% |
5.00% |
5.00%
|
Target
Allocations for Underlying Funds | |||||||||||||
Category |
Fund
Name |
2065 |
2060 |
2055 |
2050 |
2045 |
2040 |
2035 |
2030 |
2025 |
2020 |
2015 |
Income |
Fixed
Income |
PGIM
TIPS
Fund |
0.00% |
0.00% |
0.00% |
1.40% |
3.60% |
7.20% |
10.60% |
15.40% |
19.40% |
20.80% |
22.40% |
23.00% |
PGIM
Core
Conservative
Bond
Fund |
0.00% |
0.00% |
0.00% |
1.40% |
3.20% |
4.40% |
5.40% |
6.80% |
9.60% |
12.40% |
14.20% |
16.00% | |
PGIM
Total
Return
Bond
Fund |
3.40% |
4.80% |
6.80% |
6.80% |
8.00% |
8.80% |
11.20% |
13.80% |
15.00% |
15.40% |
16.00% |
16.00% | |
PGIM
Core
Ultra-Short
Bond
Fund |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
1.40% |
3.20% |
5.80% |
7.40% |
8.40% |
9.40% |
10.00% |
Expected
Distribution Schedule* | |||
Fund |
Net
Investment Income |
Short-Term
Capital Gains |
Long-Term
Capital Gains |
Income
Fund |
Quarterly |
Annually |
Annually |
2015
Fund |
Annually |
Annually |
Annually |
2020
Fund |
Annually |
Annually |
Annually |
2025
Fund |
Annually |
Annually |
Annually |
2030
Fund |
Annually |
Annually |
Annually |
2035
Fund |
Annually |
Annually |
Annually |
2040
Fund |
Annually |
Annually |
Annually |
2045
Fund |
Annually |
Annually |
Annually |
2050
Fund |
Annually |
Annually |
Annually |
2055
Fund |
Annually |
Annually |
Annually |
2060
Fund |
Annually |
Annually |
Annually |
2065
Fund |
Annually |
Annually |
Annually |
Share
Class |
Eligibility |
Class
R1 |
Certain
group retirement plans, institutional investors and certain other
investors |
Class
R2 |
Individual
investors, certain group retirement plans, institutional investors and
certain other investors |
Class
R3 |
Certain
group retirement plans, institutional investors and certain other
investors |
Class
R4 |
Certain
group retirement plans, institutional investors and certain other
investors |
Class
R5 |
Prudential
employees, certain group retirement plans, institutional investors and
certain other investors |
Class
R6 |
Certain
group retirement plans, institutional investors and certain other
investors |
|
Class
R1 |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Minimum
purchase amount |
None |
None |
None |
None |
None |
None |
Minimum
amount for
subsequent
purchases |
None |
None |
None |
None |
None |
None |
Maximum
initial sales charge |
None |
None |
None |
None |
None |
None |
Contingent
Deferred Sales Charge
(CDSC) (as
a percentage of the lower
of the
original purchase price or the
net asset
value at redemption) |
None |
None |
None |
None |
None |
None |
Annual
distribution (12b-1) fees
(shown as a
percentage of average
daily net
assets)* |
0.50% |
0.25% |
0.10% |
None |
None |
None |
Shareholder
service fees |
0.10% |
0.10% |
0.10% |
0.10% |
None |
None |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
$10.36 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.15 |
0.09 |
0.20 |
0.19 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.08) |
1.23 |
0.50 |
0.25 |
0.19 |
Total from
investment operations |
(0.61) |
1.38 |
0.59 |
0.45 |
0.38 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.68) |
(0.13) |
(0.21) |
(0.24) |
(0.15) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.88) |
(0.19) |
(0.38) |
(0.31) |
(0.15) |
Net asset
value, end of Year |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
Total
Return(c): |
(5.43)% |
12.70% |
5.57% |
4.46% |
3.71% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$26 |
$27 |
$24 |
$11 |
$11 |
Average
net assets (000) |
$27 |
$25 |
$18 |
$11 |
$11 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.75% |
0.74% |
0.74% |
0.64% |
Expenses
before waivers and/or expense reimbursement |
15.10% |
28.84% |
77.98% |
108.50% |
124.02% |
Net
investment income (loss) |
4.09% |
1.33% |
0.89% |
1.92% |
1.84% |
Portfolio
turnover rate(e) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
$10.37 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.58 |
0.18 |
0.20 |
0.22 |
0.23 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.16) |
1.23 |
0.42 |
0.26 |
0.17 |
Total from
investment operations |
(0.58) |
1.41 |
0.62 |
0.48 |
0.40 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.71) |
(0.16) |
(0.24) |
(0.27) |
(0.18) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.91) |
(0.22) |
(0.41) |
(0.34) |
(0.18) |
Net asset
value, end of Year |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
Total
Return(c): |
(5.20)% |
12.98% |
5.88% |
4.72% |
3.86% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$48 |
$2,123 |
$1,846 |
$1,345 |
$843 |
Average
net assets (000) |
$1,373 |
$2,453 |
$1,435 |
$1,036 |
$248 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.50% |
0.49% |
0.49% |
0.46% |
Expenses
before waivers and/or expense reimbursement |
1.28% |
1.37% |
3.26% |
3.89% |
9.08% |
Net
investment income (loss) |
4.96% |
1.58% |
1.90% |
2.13% |
2.18% |
Portfolio
turnover rate(e) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
$10.37 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.19 |
0.22 |
0.24 |
0.24 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.03) |
1.24 |
0.40 |
0.25 |
0.18 |
Total from
investment operations |
(0.56) |
1.43 |
0.62 |
0.49 |
0.42 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.73) |
(0.17) |
(0.25) |
(0.28) |
(0.19) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.93) |
(0.23) |
(0.42) |
(0.35) |
(0.19) |
Net asset
value, end of Year |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Total
Return(c): |
(5.03)% |
13.24% |
5.95% |
4.87% |
4.09% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$160 |
$1,623 |
$1,645 |
$1,597 |
$1,403 |
Average
net assets (000) |
$196 |
$1,634 |
$1,557 |
$1,377 |
$1,331 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.35% |
0.34% |
0.34% |
0.24% |
Expenses
before waivers and/or expense reimbursement |
2.49% |
1.36% |
3.02% |
3.50% |
5.23% |
Net
investment income (loss) |
4.19% |
1.70% |
2.09% |
2.31% |
2.23% |
Portfolio
turnover rate(e) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
$10.37 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.52 |
0.21 |
0.15 |
0.25 |
0.25 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.07) |
1.23 |
0.49 |
0.25 |
0.18 |
Total from
investment operations |
(0.55) |
1.44 |
0.64 |
0.50 |
0.43 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.74) |
(0.18) |
(0.27) |
(0.29) |
(0.20) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.94) |
(0.24) |
(0.44) |
(0.36) |
(0.20) |
Net asset
value, end of Year |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Total
Return(c): |
(4.94)% |
13.34% |
5.98% |
5.06% |
4.21% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$26 |
$28 |
$24 |
$12 |
$18 |
Average
net assets (000) |
$27 |
$26 |
$18 |
$14 |
$18 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.25% |
0.25% |
0.24% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
14.28% |
26.37% |
76.14% |
84.52% |
76.23% |
Net
investment income (loss) |
4.59% |
1.83% |
1.44% |
2.36% |
2.34% |
Portfolio
turnover rate(e) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
$10.37 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.53 |
0.22 |
0.02 |
0.29 |
0.26 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.08) |
1.24 |
0.63 |
0.22 |
0.19 |
Total from
investment operations |
(0.55) |
1.46 |
0.65 |
0.51 |
0.45 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.75) |
(0.20) |
(0.28) |
(0.30) |
(0.22) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.95) |
(0.26) |
(0.45) |
(0.37) |
(0.22) |
Net asset
value, end of Year |
$10.64 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Total
Return(c): |
(4.93)% |
13.46% |
6.18% |
5.09% |
4.33% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$931 |
$965 |
$914 |
$65 |
$11 |
Average
net assets (000) |
$944 |
$909 |
$534 |
$51 |
$11 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.15% |
0.14% |
0.04% |
Expenses
before waivers and/or expense reimbursement |
1.05% |
1.47% |
4.36% |
24.81% |
122.74% |
Net
investment income (loss) |
4.67% |
1.94% |
0.15% |
2.75% |
2.44% |
Portfolio
turnover rate(e) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.16 |
$10.96 |
$10.76 |
$10.61 |
$10.38 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.55 |
0.24 |
0.21 |
0.29 |
0.28 |
Net
realized and unrealized gain (loss) on investment and foreign currency
transactions |
(1.08) |
1.23 |
0.46 |
0.25 |
0.18 |
Total from
investment operations |
(0.53) |
1.47 |
0.67 |
0.54 |
0.46 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.77) |
(0.21) |
(0.30) |
(0.32) |
(0.23) |
Distributions
from net realized gains |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
(-)(b) |
Total
dividends and distributions |
(0.97) |
(0.27) |
(0.47) |
(0.39) |
(0.23) |
Net asset
value, end of Year |
$10.66 |
$12.16 |
$10.96 |
$10.76 |
$10.61 |
Total
Return(c): |
(4.78)% |
13.59% |
6.36% |
5.33% |
4.45% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$23,236 |
$24,185 |
$16,871 |
$6,939 |
$3,529 |
Average
net assets (000) |
$25,990 |
$22,559 |
$9,392 |
$6,203 |
$2,451 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement(e) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
(0.00)%(b) |
(0.00)%(b) |
(0.01)% |
(0.09)% |
Expenses
before waivers and/or expense reimbursement |
0.52% |
0.61% |
1.92% |
2.41% |
4.36% |
Net
investment income (loss) |
4.82% |
2.10% |
1.95% |
2.80% |
2.67% |
Portfolio
turnover rate(f) |
62% |
45% |
65% |
38% |
25% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.43 |
$11.08 |
$10.91 |
$10.86 |
$10.49 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.15 |
0.16 |
0.19 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.41 |
0.42 |
0.23 |
0.28 |
Total from
investment operations |
(0.58) |
1.56 |
0.58 |
0.42 |
0.47 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.67) |
(0.11) |
(0.22) |
(0.23) |
(0.08) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.05) |
(0.21) |
(0.41) |
(0.37) |
(0.10) |
Net asset
value, end of Year |
$10.80 |
$12.43 |
$11.08 |
$10.91 |
$10.86 |
Total
Return(b): |
(5.31)% |
14.32% |
5.35% |
4.17% |
4.50% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$14 |
$12 |
$11 |
$11 |
Average
net assets (000) |
$13 |
$13 |
$12 |
$11 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.75% |
0.74% |
0.73% |
0.63% |
Expenses
before waivers and/or expense reimbursement |
28.64% |
52.16% |
114.82% |
106.63% |
120.64% |
Net
investment income (loss) |
4.05% |
1.29% |
1.53% |
1.83% |
1.74% |
Portfolio
turnover rate(d) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.46 |
$11.10 |
$10.92 |
$10.88 |
$10.50 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.50 |
0.18 |
0.20 |
0.21 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.42 |
0.41 |
0.22 |
0.30 |
Total from
investment operations |
(0.55) |
1.60 |
0.61 |
0.43 |
0.51 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.71) |
(0.14) |
(0.24) |
(0.25) |
(0.11) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.09) |
(0.24) |
(0.43) |
(0.39) |
(0.13) |
Net asset
value, end of Year |
$10.82 |
$12.46 |
$11.10 |
$10.92 |
$10.88 |
Total
Return(b): |
(5.05)% |
14.57% |
5.62% |
4.34% |
4.85% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$51 |
$50 |
$42 |
$12 |
$11 |
Average
net assets (000) |
$51 |
$46 |
$37 |
$13 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.50% |
0.49% |
0.48% |
0.38% |
Expenses
before waivers and/or expense reimbursement |
8.87% |
15.87% |
37.60% |
92.94% |
119.98% |
Net
investment income (loss) |
4.28% |
1.54% |
1.85% |
1.94% |
1.99% |
Portfolio
turnover rate(d) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.47 |
$11.11 |
$10.93 |
$10.89 |
$10.51 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.52 |
0.20 |
0.21 |
0.24 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.06) |
1.41 |
0.42 |
0.21 |
0.29 |
Total from
investment operations |
(0.54) |
1.61 |
0.63 |
0.45 |
0.52 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.72) |
(0.15) |
(0.26) |
(0.27) |
(0.12) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.10) |
(0.25) |
(0.45) |
(0.41) |
(0.14) |
Net asset
value, end of Year |
$10.83 |
$12.47 |
$11.11 |
$10.93 |
$10.89 |
Total
Return(b): |
(4.91)% |
14.71% |
5.84% |
4.50% |
5.01% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$14 |
$12 |
$12 |
$11 |
Average
net assets (000) |
$14 |
$13 |
$12 |
$11 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.35% |
0.34% |
0.33% |
0.23% |
Expenses
before waivers and/or expense reimbursement |
27.69% |
50.95% |
113.01% |
105.36% |
119.64% |
Net
investment income (loss) |
4.45% |
1.69% |
1.93% |
2.23% |
2.14% |
Portfolio
turnover rate(d) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.46 |
$11.11 |
$10.93 |
$10.88 |
$10.51 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.53 |
0.21 |
0.22 |
0.30 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.41 |
0.42 |
0.17 |
0.29 |
Total from
investment operations |
(0.52) |
1.62 |
0.64 |
0.47 |
0.53 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.74) |
(0.17) |
(0.27) |
(0.28) |
(0.14) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.12) |
(0.27) |
(0.46) |
(0.42) |
(0.16) |
Net asset
value, end of Year |
$10.82 |
$12.46 |
$11.11 |
$10.93 |
$10.88 |
Total
Return(b): |
(4.90)% |
14.82% |
5.97% |
4.62% |
5.02% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$14 |
$12 |
$12 |
$81 |
Average
net assets (000) |
$14 |
$13 |
$12 |
$44 |
$65 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.25% |
0.24% |
0.23% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
27.47% |
50.67% |
112.64% |
28.32% |
22.01% |
Net
investment income (loss) |
4.55% |
1.79% |
2.03% |
2.82% |
2.27% |
Portfolio
turnover rate(d) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
$10.53 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.51 |
0.22 |
0.01 |
0.26 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.02) |
1.42 |
0.64 |
0.22 |
0.29 |
Total from
investment operations |
(0.51) |
1.64 |
0.65 |
0.48 |
0.54 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.75) |
(0.18) |
(0.28) |
(0.29) |
(0.15) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.13) |
(0.28) |
(0.47) |
(0.43) |
(0.17) |
Net asset
value, end of Year |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
Total
Return(b): |
(4.70)% |
14.91% |
6.03% |
4.82% |
5.11% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$175 |
$133 |
$256 |
$40 |
$18 |
Average
net assets (000) |
$166 |
$199 |
$142 |
$28 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.14% |
0.13% |
0.04% |
Expenses
before waivers and/or expense reimbursement |
3.36% |
4.45% |
10.96% |
43.44% |
110.69% |
Net
investment income (loss) |
4.45% |
1.90% |
0.11% |
2.44% |
2.34% |
Portfolio
turnover rate(d) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
$10.53 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.56 |
0.24 |
0.24 |
0.28 |
0.27 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.41 |
0.43 |
0.22 |
0.28 |
Total from
investment operations |
(0.49) |
1.65 |
0.67 |
0.50 |
0.55 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.77) |
(0.19) |
(0.30) |
(0.31) |
(0.16) |
Distributions
from net realized gains |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
(0.02) |
Total
dividends and distributions |
(1.15) |
(0.29) |
(0.49) |
(0.45) |
(0.18) |
Net asset
value, end of Year |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
Total
Return(b): |
(4.57)% |
15.07% |
6.19% |
4.89% |
5.27% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$11,577 |
$14,970 |
$12,049 |
$11,081 |
$8,567 |
Average
net assets (000) |
$13,808 |
$15,418 |
$12,078 |
$9,955 |
$6,742 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
(0.00)%(e) |
(0.01)% |
(0.02)% |
(0.11)% |
Expenses
before waivers and/or expense reimbursement |
1.02% |
1.00% |
1.72% |
2.04% |
2.53% |
Net
investment income (loss) |
4.80% |
2.05% |
2.23% |
2.58% |
2.50% |
Portfolio
turnover rate(f) |
43% |
58% |
75% |
30% |
57% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
Amount
rounds to zero. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.82 |
$11.27 |
$11.09 |
$10.98 |
$10.52 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.15 |
0.16 |
0.19 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.08) |
1.63 |
0.44 |
0.23 |
0.37 |
Total from
investment operations |
(0.61) |
1.78 |
0.60 |
0.42 |
0.55 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.72) |
(0.12) |
(0.21) |
(0.21) |
(0.08) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.09) |
(0.23) |
(0.42) |
(0.31) |
(0.09) |
Net asset
value, end of Year |
$11.12 |
$12.82 |
$11.27 |
$11.09 |
$10.98 |
Total
Return(b): |
(5.37)% |
15.93% |
5.35% |
4.19% |
5.28% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$14 |
$12 |
$12 |
$11 |
Average
net assets (000) |
$14 |
$13 |
$12 |
$11 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.75% |
0.74% |
0.74% |
0.64% |
Expenses
before waivers and/or expense reimbursement |
27.64% |
51.00% |
113.14% |
105.39% |
118.30% |
Net
investment income (loss) |
3.94% |
1.23% |
1.46% |
1.74% |
1.68% |
Portfolio
turnover rate(d) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.83 |
$11.28 |
$11.11 |
$10.99 |
$10.54 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.57 |
0.18 |
0.18 |
0.22 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.14) |
1.62 |
0.44 |
0.23 |
0.38 |
Total from
investment operations |
(0.57) |
1.80 |
0.62 |
0.45 |
0.57 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.75) |
(0.14) |
(0.24) |
(0.23) |
(0.11) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.12) |
(0.25) |
(0.45) |
(0.33) |
(0.12) |
Net asset
value, end of Year |
$11.14 |
$12.83 |
$11.28 |
$11.11 |
$10.99 |
Total
Return(b): |
(5.05)% |
16.19% |
5.59% |
4.47% |
5.43% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$55 |
$5,742 |
$4,355 |
$3,446 |
$2,332 |
Average
net assets (000) |
$3,140 |
$4,596 |
$3,904 |
$2,456 |
$693 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.50% |
0.49% |
0.49% |
0.46% |
Expenses
before waivers and/or expense reimbursement |
0.83% |
0.88% |
1.27% |
1.51% |
3.02% |
Net
investment income (loss) |
4.69% |
1.49% |
1.61% |
2.02% |
1.78% |
Portfolio
turnover rate(d) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.86 |
$11.30 |
$11.13 |
$11.01 |
$10.55 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.52 |
0.20 |
0.21 |
0.25 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.07) |
1.63 |
0.42 |
0.22 |
0.35 |
Total from
investment operations |
(0.55) |
1.83 |
0.63 |
0.47 |
0.60 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.77) |
(0.16) |
(0.25) |
(0.25) |
(0.13) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.14) |
(0.27) |
(0.46) |
(0.35) |
(0.14) |
Net asset
value, end of Year |
$11.17 |
$12.86 |
$11.30 |
$11.13 |
$11.01 |
Total
Return(b): |
(4.89)% |
16.41% |
5.73% |
4.63% |
5.67% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,099 |
$1,844 |
$1,541 |
$1,072 |
$1,134 |
Average
net assets (000) |
$1,228 |
$1,655 |
$1,294 |
$1,066 |
$673 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.35% |
0.34% |
0.34% |
0.28% |
Expenses
before waivers and/or expense reimbursement |
0.65% |
0.97% |
1.80% |
1.99% |
3.00% |
Net
investment income (loss) |
4.37% |
1.63% |
1.87% |
2.28% |
2.33% |
Portfolio
turnover rate(d) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.87 |
$11.31 |
$11.13 |
$11.03 |
$10.55 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.53 |
0.21 |
0.21 |
0.28 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.06) |
1.63 |
0.44 |
0.18 |
0.39 |
Total from
investment operations |
(0.53) |
1.84 |
0.65 |
0.46 |
0.63 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.79) |
(0.17) |
(0.26) |
(0.26) |
(0.14) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.16) |
(0.28) |
(0.47) |
(0.36) |
(0.15) |
Net asset
value, end of Year |
$11.18 |
$12.87 |
$11.31 |
$11.13 |
$11.03 |
Total
Return(b): |
(4.79)% |
16.50% |
5.82% |
4.64% |
5.97% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$14 |
$14 |
$12 |
$12 |
$61 |
Average
net assets (000) |
$14 |
$13 |
$12 |
$37 |
$191 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.25% |
0.24% |
0.24% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
26.44% |
49.43% |
110.87% |
31.79% |
7.79% |
Net
investment income (loss) |
4.44% |
1.73% |
1.95% |
2.61% |
2.19% |
Portfolio
turnover rate(d) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.88 |
$11.32 |
$11.14 |
$11.03 |
$10.56 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.55 |
0.22 |
0.24 |
0.25 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.08) |
1.63 |
0.42 |
0.23 |
0.40 |
Total from
investment operations |
(0.53) |
1.85 |
0.66 |
0.48 |
0.63 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.80) |
(0.18) |
(0.27) |
(0.27) |
(0.15) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.17) |
(0.29) |
(0.48) |
(0.37) |
(0.16) |
Net asset
value, end of Year |
$11.18 |
$12.88 |
$11.32 |
$11.14 |
$11.03 |
Total
Return(b): |
(4.77)% |
16.60% |
6.03% |
4.75% |
5.99% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$2,967 |
$3,585 |
$3,624 |
$3,962 |
$3,603 |
Average
net assets (000) |
$3,448 |
$3,427 |
$3,783 |
$3,807 |
$1,162 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.14% |
0.14% |
0.11% |
Expenses
before waivers and/or expense reimbursement |
0.50% |
0.58% |
0.92% |
0.99% |
1.91% |
Net
investment income (loss) |
4.58% |
1.81% |
2.22% |
2.34% |
2.13% |
Portfolio
turnover rate(d) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.84 |
$11.28 |
$11.11 |
$11.00 |
$10.54 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.56 |
0.24 |
0.23 |
0.27 |
0.26 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.06) |
1.63 |
0.44 |
0.23 |
0.38 |
Total from
investment operations |
(0.50) |
1.87 |
0.67 |
0.50 |
0.64 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.82) |
(0.20) |
(0.29) |
(0.29) |
(0.17) |
Distributions
from net realized gains |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
(0.01) |
Total
dividends and distributions |
(1.19) |
(0.31) |
(0.50) |
(0.39) |
(0.18) |
Net asset
value, end of Year |
$11.15 |
$12.84 |
$11.28 |
$11.11 |
$11.00 |
Total
Return(b): |
(4.56)% |
16.82% |
6.10% |
4.93% |
6.06% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$46,728 |
$58,602 |
$49,000 |
$35,018 |
$22,951 |
Average
net assets (000) |
$54,565 |
$59,237 |
$39,274 |
$30,081 |
$16,888 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
(0.00)%(e) |
(0.01)% |
(0.01)% |
(0.10)% |
Expenses
before waivers and/or expense reimbursement |
0.25% |
0.25% |
0.46% |
0.58% |
0.93% |
Net
investment income (loss) |
4.71% |
1.98% |
2.11% |
2.54% |
2.42% |
Portfolio
turnover rate(f) |
45% |
49% |
61% |
33% |
41% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
Amount
rounds to zero. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.01 |
$11.24 |
$11.14 |
$11.15 |
$10.58 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.14 |
0.05 |
0.19 |
0.17 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.07) |
1.84 |
0.53 |
0.18 |
0.50 |
Total from
investment operations |
(0.60) |
1.98 |
0.58 |
0.37 |
0.67 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.75) |
(0.11) |
(0.21) |
(0.20) |
(0.10) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.22) |
(0.21) |
(0.48) |
(0.38) |
(0.10) |
Net asset
value, end of Year |
$11.19 |
$13.01 |
$11.24 |
$11.14 |
$11.15 |
Total
Return(c): |
(5.37)% |
17.76% |
5.25% |
3.73% |
6.35% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$14 |
$14 |
$12 |
$671 |
$678 |
Average
net assets (000) |
$14 |
$13 |
$122 |
$625 |
$639 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.75% |
0.75% |
0.74% |
0.65% |
Expenses
before waivers and/or expense reimbursement |
27.65% |
50.15% |
11.62% |
3.01% |
3.42% |
Net
investment income (loss) |
3.86% |
1.18% |
0.49% |
1.72% |
1.55% |
Portfolio
turnover rate(e) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.04 |
$11.26 |
$11.15 |
$11.16 |
$10.59 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.48 |
0.15 |
(0.01) |
0.18 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.86 |
0.63 |
0.22 |
0.46 |
Total from
investment operations |
(0.57) |
2.01 |
0.62 |
0.40 |
0.70 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.78) |
(0.13) |
(0.24) |
(0.23) |
(0.13) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.25) |
(0.23) |
(0.51) |
(0.41) |
(0.13) |
Net asset
value, end of Year |
$11.22 |
$13.04 |
$11.26 |
$11.15 |
$11.16 |
Total
Return(c): |
(5.12)% |
18.09% |
5.45% |
4.09% |
6.62% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$106 |
$82 |
$90 |
$117 |
$14 |
Average
net assets (000) |
$92 |
$71 |
$136 |
$39 |
$18 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.50% |
0.50% |
0.49% |
0.39% |
Expenses
before waivers and/or expense reimbursement |
6.27% |
10.60% |
10.64% |
31.08% |
71.60% |
Net
investment income (loss) |
3.99% |
1.29% |
(0.13)% |
1.60% |
2.18% |
Portfolio
turnover rate(e) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.06 |
$11.27 |
$11.17 |
$11.18 |
$10.61 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.19 |
0.21 |
0.23 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.99) |
1.85 |
0.41 |
0.19 |
0.51 |
Total from
investment operations |
(0.56) |
2.04 |
0.62 |
0.42 |
0.72 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.80) |
(0.15) |
(0.25) |
(0.25) |
(0.15) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.27) |
(0.25) |
(0.52) |
(0.43) |
(0.15) |
Net asset
value, end of Year |
$11.23 |
$13.06 |
$11.27 |
$11.17 |
$11.18 |
Total
Return(c): |
(5.04)% |
18.32% |
5.62% |
4.17% |
6.76% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$449 |
$9,911 |
$8,064 |
$7,737 |
$5,871 |
Average
net assets (000) |
$663 |
$8,876 |
$7,803 |
$6,760 |
$4,653 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.35% |
0.35% |
0.34% |
0.25% |
Expenses
before waivers and/or expense reimbursement |
1.02% |
0.61% |
0.90% |
1.00% |
1.24% |
Net
investment income (loss) |
3.60% |
1.59% |
1.89% |
2.14% |
1.94% |
Portfolio
turnover rate(e) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.06 |
$11.28 |
$11.17 |
$11.18 |
$10.61 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.51 |
0.20 |
0.22 |
0.22 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.05) |
1.84 |
0.43 |
0.21 |
0.53 |
Total from
investment operations |
(0.54) |
2.04 |
0.65 |
0.43 |
0.73 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.81) |
(0.16) |
(0.27) |
(0.26) |
(0.16) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.28) |
(0.26) |
(0.54) |
(0.44) |
(0.16) |
Net asset
value, end of Year |
$11.24 |
$13.06 |
$11.28 |
$11.17 |
$11.18 |
Total
Return(c): |
(4.87)% |
18.43% |
5.73% |
4.27% |
6.88% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$22 |
$15 |
$13 |
$12 |
$109 |
Average
net assets (000) |
$18 |
$14 |
$12 |
$45 |
$134 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.25% |
0.25% |
0.25% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
21.59% |
48.41% |
109.74% |
26.16% |
10.37% |
Net
investment income (loss) |
4.24% |
1.68% |
1.99% |
2.04% |
1.81% |
Portfolio
turnover rate(e) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.07 |
$11.28 |
$11.17 |
$11.19 |
$10.62 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.49 |
0.22 |
0.24 |
0.24 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.02) |
1.84 |
0.41 |
0.19 |
0.51 |
Total from
investment operations |
(0.53) |
2.06 |
0.65 |
0.43 |
0.74 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.82) |
(0.17) |
(0.27) |
(0.27) |
(0.17) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.29) |
(0.27) |
(0.54) |
(0.45) |
(0.17) |
Net asset
value, end of Year |
$11.25 |
$13.07 |
$11.28 |
$11.17 |
$11.19 |
Total
Return(c): |
(4.77)% |
18.53% |
5.90% |
4.29% |
6.98% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$606 |
$266 |
$160 |
$295 |
$37 |
Average
net assets (000) |
$425 |
$197 |
$238 |
$71 |
$25 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.16% |
0.14% |
0.07% |
Expenses
before waivers and/or expense reimbursement |
1.24% |
3.68% |
6.04% |
16.90% |
50.68% |
Net
investment income (loss) |
4.12% |
1.85% |
2.12% |
2.21% |
2.05% |
Portfolio
turnover rate(e) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.10 |
$11.30 |
$11.19 |
$11.21 |
$10.64 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.56 |
0.24 |
0.23 |
0.27 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.08) |
1.85 |
0.44 |
0.17 |
0.51 |
Total from
investment operations |
(0.52) |
2.09 |
0.67 |
0.44 |
0.76 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.84) |
(0.19) |
(0.29) |
(0.28) |
(0.19) |
Distributions
from net realized gains |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
(-)(b) |
Total
dividends and distributions |
(1.31) |
(0.29) |
(0.56) |
(0.46) |
(0.19) |
Net asset
value, end of Year |
$11.27 |
$13.10 |
$11.30 |
$11.19 |
$11.21 |
Total
Return(c): |
(4.70)% |
18.75% |
5.96% |
4.55% |
7.13% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$71,290 |
$80,212 |
$62,135 |
$40,932 |
$25,880 |
Average
net assets (000) |
$82,904 |
$79,030 |
$47,867 |
$35,028 |
$20,307 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement(e) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
0.00%(b) |
(0.00)%(b) |
(0.01)% |
(0.09)% |
Expenses
before waivers and/or expense reimbursement |
0.19% |
0.20% |
0.40% |
0.51% |
0.70% |
Net
investment income (loss) |
4.62% |
1.94% |
2.09% |
2.52% |
2.29% |
Portfolio
turnover rate(f) |
58% |
44% |
57% |
35% |
37% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.72 |
$11.48 |
$11.45 |
$11.53 |
$10.74 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.13 |
0.17 |
0.18 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.15) |
2.32 |
0.41 |
0.13 |
0.77 |
Total from
investment operations |
(0.72) |
2.45 |
0.58 |
0.31 |
0.91 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.79) |
(0.11) |
(0.20) |
(0.22) |
(0.12) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.08) |
(0.21) |
(0.55) |
(0.39) |
(0.12) |
Net asset
value, end of Year |
$11.92 |
$13.72 |
$11.48 |
$11.45 |
$11.53 |
Total
Return(c): |
(5.94)% |
21.50% |
5.04% |
3.18% |
8.47% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$59 |
$55 |
$38 |
$33 |
$27 |
Average
net assets (000) |
$58 |
$48 |
$36 |
$30 |
$15 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.75% |
0.74% |
0.74% |
0.74% |
0.66% |
Expenses
before waivers and/or expense reimbursement |
7.42% |
14.75% |
37.24% |
40.10% |
84.71% |
Net
investment income (loss) |
3.37% |
1.05% |
1.54% |
1.62% |
1.29% |
Portfolio
turnover rate(e) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.74 |
$11.50 |
$11.47 |
$11.55 |
$10.75 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.58 |
0.16 |
0.16 |
0.21 |
0.11 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.26) |
2.31 |
0.45 |
0.13 |
0.83 |
Total from
investment operations |
(0.68) |
2.47 |
0.61 |
0.34 |
0.94 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.82) |
(0.13) |
(0.23) |
(0.25) |
(0.14) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.11) |
(0.23) |
(0.58) |
(0.42) |
(0.14) |
Net asset
value, end of Year |
$11.95 |
$13.74 |
$11.50 |
$11.47 |
$11.55 |
Total
Return(c): |
(5.69)% |
21.83% |
5.29% |
3.46% |
8.81% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$299 |
$7,308 |
$4,896 |
$3,404 |
$2,637 |
Average
net assets (000) |
$5,088 |
$6,013 |
$4,148 |
$3,149 |
$883 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.49% |
0.49% |
0.49% |
0.49% |
0.47% |
Expenses
before waivers and/or expense reimbursement |
0.76% |
0.84% |
1.25% |
1.40% |
2.63% |
Net
investment income (loss) |
4.39% |
1.29% |
1.42% |
1.87% |
0.99% |
Portfolio
turnover rate(e) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.75 |
$11.50 |
$11.47 |
$11.55 |
$10.76 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.18 |
0.19 |
0.21 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.13) |
2.32 |
0.44 |
0.15 |
0.74 |
Total from
investment operations |
(0.66) |
2.50 |
0.63 |
0.36 |
0.95 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.85) |
(0.15) |
(0.25) |
(0.27) |
(0.16) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.14) |
(0.25) |
(0.60) |
(0.44) |
(0.16) |
Net asset
value, end of Year |
$11.95 |
$13.75 |
$11.50 |
$11.47 |
$11.55 |
Total
Return(c): |
(5.55)% |
22.00% |
5.44% |
3.63% |
8.86% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,341 |
$3,414 |
$2,416 |
$1,349 |
$728 |
Average
net assets (000) |
$1,397 |
$2,857 |
$1,832 |
$1,018 |
$440 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.35% |
0.34% |
0.34% |
0.34% |
0.29% |
Expenses
before waivers and/or expense reimbursement |
0.57% |
0.78% |
1.50% |
2.03% |
4.05% |
Net
investment income (loss) |
3.71% |
1.45% |
1.67% |
1.93% |
1.81% |
Portfolio
turnover rate(e) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.74 |
$11.49 |
$11.46 |
$11.56 |
$10.77 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.48 |
0.19 |
0.23 |
0.29 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.13) |
2.32 |
0.41 |
0.06 |
0.76 |
Total from
investment operations |
(0.65) |
2.51 |
0.64 |
0.35 |
0.96 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.86) |
(0.16) |
(0.26) |
(0.28) |
(0.17) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.15) |
(0.26) |
(0.61) |
(0.45) |
(0.17) |
Net asset
value, end of Year |
$11.94 |
$13.74 |
$11.49 |
$11.46 |
$11.56 |
Total
Return(c): |
(5.47)% |
22.12% |
5.58% |
3.56% |
8.98% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$31 |
$22 |
$14 |
$12 |
$1,114 |
Average
net assets (000) |
$26 |
$18 |
$12 |
$483 |
$987 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.25% |
0.24% |
0.24% |
0.25% |
0.17% |
Expenses
before waivers and/or expense reimbursement |
14.46% |
37.53% |
106.51% |
3.30% |
2.43% |
Net
investment income (loss) |
3.79% |
1.54% |
2.01% |
2.58% |
1.82% |
Portfolio
turnover rate(e) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.77 |
$11.52 |
$11.48 |
$11.57 |
$10.78 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.51 |
0.21 |
0.25 |
0.25 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.15) |
2.31 |
0.41 |
0.12 |
0.82 |
Total from
investment operations |
(0.64) |
2.52 |
0.66 |
0.37 |
0.97 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.87) |
(0.17) |
(0.27) |
(0.29) |
(0.18) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.16) |
(0.27) |
(0.62) |
(0.46) |
(0.18) |
Net asset
value, end of Year |
$11.97 |
$13.77 |
$11.52 |
$11.48 |
$11.57 |
Total
Return(c): |
(5.36)% |
22.18% |
5.73% |
3.76% |
9.08% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$3,921 |
$3,877 |
$3,222 |
$3,012 |
$2,728 |
Average
net assets (000) |
$3,888 |
$3,548 |
$3,087 |
$2,785 |
$934 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.15% |
0.14% |
0.14% |
0.14% |
0.12% |
Expenses
before waivers and/or expense reimbursement |
0.44% |
0.55% |
1.00% |
1.10% |
2.18% |
Net
investment income (loss) |
3.94% |
1.66% |
2.19% |
2.21% |
1.36% |
Portfolio
turnover rate(e) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$13.80 |
$11.54 |
$11.50 |
$11.59 |
$10.79 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.53 |
0.23 |
0.24 |
0.25 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.15) |
2.32 |
0.44 |
0.14 |
0.78 |
Total from
investment operations |
(0.62) |
2.55 |
0.68 |
0.39 |
1.00 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.89) |
(0.19) |
(0.29) |
(0.31) |
(0.20) |
Distributions
from net realized gains |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
(-)(b) |
Total
dividends and distributions |
(1.18) |
(0.29) |
(0.64) |
(0.48) |
(0.20) |
Net asset
value, end of Year |
$12.00 |
$13.80 |
$11.54 |
$11.50 |
$11.59 |
Total
Return(c): |
(5.20)% |
22.40% |
5.87% |
3.93% |
9.33% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$65,639 |
$71,254 |
$51,305 |
$36,517 |
$22,067 |
Average
net assets (000) |
$73,198 |
$68,119 |
$40,094 |
$29,867 |
$15,382 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement(e) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.00)% |
(0.01)% |
(0.01)% |
(0.01)% |
(0.07)% |
Expenses
before waivers and/or expense reimbursement |
0.20% |
0.22% |
0.46% |
0.57% |
0.97% |
Net
investment income (loss) |
4.14% |
1.79% |
2.13% |
2.25% |
1.94% |
Portfolio
turnover rate(f) |
56% |
46% |
55% |
36% |
36% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.14 |
$11.47 |
$11.42 |
$11.68 |
$10.81 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.39 |
0.12 |
0.16 |
0.12 |
0.12 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.17) |
2.76 |
0.41 |
0.11 |
0.90 |
Total from
investment operations |
(0.78) |
2.88 |
0.57 |
0.23 |
1.02 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.86) |
(0.11) |
(0.18) |
(0.23) |
(0.15) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.63) |
(0.21) |
(0.52) |
(0.49) |
(0.15) |
Net asset
value, end of Year |
$11.73 |
$14.14 |
$11.47 |
$11.42 |
$11.68 |
Total
Return(c): |
(6.67)% |
25.33% |
4.94% |
2.55% |
9.46% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$31 |
$32 |
$25 |
$24 |
$12 |
Average
net assets (000) |
$31 |
$29 |
$24 |
$17 |
$12 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.73% |
0.73% |
0.72% |
0.72% |
0.63% |
Expenses
before waivers and/or expense reimbursement |
13.02% |
29.33% |
56.33% |
70.38% |
106.90% |
Net
investment income (loss) |
3.02% |
0.91% |
1.44% |
1.03% |
1.04% |
Portfolio
turnover rate(e) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.15 |
$11.48 |
$11.43 |
$11.69 |
$10.83 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.15 |
0.19 |
0.18 |
0.08 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.16) |
2.76 |
0.41 |
0.07 |
0.96 |
Total from
investment operations |
(0.74) |
2.91 |
0.60 |
0.25 |
1.04 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.89) |
(0.14) |
(0.21) |
(0.25) |
(0.18) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.66) |
(0.24) |
(0.55) |
(0.51) |
(0.18) |
Net asset
value, end of Year |
$11.75 |
$14.15 |
$11.48 |
$11.43 |
$11.69 |
Total
Return(c): |
(6.36)% |
25.59% |
5.20% |
2.84% |
9.62% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$546 |
$526 |
$324 |
$353 |
$352 |
Average
net assets (000) |
$535 |
$409 |
$359 |
$340 |
$77 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.48% |
0.48% |
0.47% |
0.47% |
0.44% |
Expenses
before waivers and/or expense reimbursement |
1.80% |
2.54% |
4.84% |
4.85% |
17.83% |
Net
investment income (loss) |
3.25% |
1.13% |
1.66% |
1.60% |
0.70% |
Portfolio
turnover rate(e) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.18 |
$11.50 |
$11.45 |
$11.71 |
$10.84 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.30 |
0.17 |
0.20 |
0.20 |
0.17 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.03) |
2.76 |
0.42 |
0.07 |
0.89 |
Total from
investment operations |
(0.73) |
2.93 |
0.62 |
0.27 |
1.06 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.91) |
(0.15) |
(0.23) |
(0.27) |
(0.19) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.68) |
(0.25) |
(0.57) |
(0.53) |
(0.19) |
Net asset
value, end of Year |
$11.77 |
$14.18 |
$11.50 |
$11.45 |
$11.71 |
Total
Return(c): |
(6.29)% |
25.80% |
5.34% |
3.01% |
9.85% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$303 |
$9,978 |
$7,298 |
$6,271 |
$5,849 |
Average
net assets (000) |
$463 |
$8,548 |
$6,663 |
$5,850 |
$4,950 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.33% |
0.33% |
0.32% |
0.32% |
0.24% |
Expenses
before waivers and/or expense reimbursement |
1.36% |
0.70% |
1.11% |
1.31% |
1.58% |
Net
investment income (loss) |
2.36% |
1.30% |
1.82% |
1.83% |
1.46% |
Portfolio
turnover rate(e) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.20 |
$11.51 |
$11.46 |
$11.72 |
$10.85 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.46 |
0.18 |
0.22 |
0.31 |
0.17 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.17) |
2.78 |
0.41 |
(0.03) |
0.90 |
Total from
investment operations |
(0.71) |
2.96 |
0.63 |
0.28 |
1.07 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.93) |
(0.17) |
(0.24) |
(0.28) |
(0.20) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.70) |
(0.27) |
(0.58) |
(0.54) |
(0.20) |
Net asset
value, end of Year |
$11.79 |
$14.20 |
$11.51 |
$11.46 |
$11.72 |
Total
Return(c): |
(6.17)% |
25.98% |
5.43% |
3.12% |
9.96% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$15 |
$16 |
$13 |
$12 |
$50 |
Average
net assets (000) |
$16 |
$15 |
$12 |
$28 |
$48 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.23% |
0.23% |
0.22% |
0.21% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
23.52% |
44.91% |
106.41% |
41.69% |
27.89% |
Net
investment income (loss) |
3.53% |
1.41% |
1.94% |
2.78% |
1.48% |
Portfolio
turnover rate(e) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.20 |
$11.51 |
$11.45 |
$11.72 |
$10.85 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.19 |
0.20 |
0.24 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.13) |
2.78 |
0.45 |
0.05 |
0.91 |
Total from
investment operations |
(0.70) |
2.97 |
0.65 |
0.29 |
1.09 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.94) |
(0.18) |
(0.25) |
(0.30) |
(0.22) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.71) |
(0.28) |
(0.59) |
(0.56) |
(0.22) |
Net asset
value, end of Year |
$11.79 |
$14.20 |
$11.51 |
$11.45 |
$11.72 |
Total
Return(c): |
(6.08)% |
26.09% |
5.62% |
3.15% |
10.07% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$542 |
$314 |
$147 |
$95 |
$33 |
Average
net assets (000) |
$408 |
$219 |
$122 |
$69 |
$15 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.13% |
0.13% |
0.12% |
0.12% |
0.04% |
Expenses
before waivers and/or expense reimbursement |
1.35% |
3.46% |
11.56% |
17.68% |
87.88% |
Net
investment income (loss) |
3.38% |
1.47% |
1.81% |
2.16% |
1.54% |
Portfolio
turnover rate(e) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.21 |
$11.52 |
$11.46 |
$11.74 |
$10.87 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.49 |
0.21 |
0.22 |
0.24 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.17) |
2.77 |
0.45 |
0.05 |
0.88 |
Total from
investment operations |
(0.68) |
2.98 |
0.67 |
0.29 |
1.10 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.96) |
(0.19) |
(0.27) |
(0.31) |
(0.23) |
Distributions
from net realized gains |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
(-)(b) |
Total
dividends and distributions |
(1.73) |
(0.29) |
(0.61) |
(0.57) |
(0.23) |
Net asset
value, end of Year |
$11.80 |
$14.21 |
$11.52 |
$11.46 |
$11.74 |
Total
Return(c): |
(5.94)% |
26.25% |
5.77% |
3.23% |
10.21% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$47,761 |
$53,243 |
$42,659 |
$24,312 |
$15,099 |
Average
net assets (000) |
$54,250 |
$52,063 |
$28,765 |
$20,031 |
$11,332 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement(e) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.02)% |
(0.02)% |
(0.03)% |
(0.03)% |
(0.11)% |
Expenses
before waivers and/or expense reimbursement |
0.28% |
0.28% |
0.61% |
0.81% |
1.10% |
Net
investment income (loss) |
3.79% |
1.66% |
1.99% |
2.14% |
1.88% |
Portfolio
turnover rate(f) |
52% |
45% |
45% |
35% |
28% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.54 |
$11.53 |
$11.61 |
$11.83 |
$10.90 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38 |
0.10 |
0.14 |
0.15 |
0.12 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.26) |
3.11 |
0.33 |
0.05 |
0.98 |
Total from
investment operations |
(0.88) |
3.21 |
0.47 |
0.20 |
1.10 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.91) |
(0.11) |
(0.18) |
(0.24) |
(0.16) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.32) |
(0.20) |
(0.55) |
(0.42) |
(0.17) |
Net asset
value, end of Year |
$12.34 |
$14.54 |
$11.53 |
$11.61 |
$11.83 |
Total
Return(b): |
(7.02)% |
28.07% |
3.95% |
2.28% |
10.11% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$39 |
$34 |
$22 |
$16 |
$13 |
Average
net assets (000) |
$37 |
$28 |
$18 |
$14 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.70% |
0.69% |
0.69% |
0.70% |
0.63% |
Expenses
before waivers and/or expense reimbursement |
11.02% |
24.36% |
73.98% |
83.37% |
110.40% |
Net
investment income (loss) |
2.81% |
0.78% |
1.29% |
1.31% |
1.04% |
Portfolio
turnover rate(d) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.57 |
$11.55 |
$11.63 |
$11.84 |
$10.92 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.59 |
0.14 |
0.18 |
0.17 |
0.05 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.45) |
3.11 |
0.32 |
0.07 |
1.07 |
Total from
investment operations |
(0.86) |
3.25 |
0.50 |
0.24 |
1.12 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.94) |
(0.14) |
(0.21) |
(0.27) |
(0.19) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.35) |
(0.23) |
(0.58) |
(0.45) |
(0.20) |
Net asset
value, end of Year |
$12.36 |
$14.57 |
$11.55 |
$11.63 |
$11.84 |
Total
Return(b): |
(6.85)% |
28.40% |
4.18% |
2.65% |
10.26% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$169 |
$5,733 |
$3,501 |
$2,424 |
$1,157 |
Average
net assets (000) |
$4,165 |
$4,508 |
$2,845 |
$1,689 |
$299 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.45% |
0.44% |
0.44% |
0.45% |
0.43% |
Expenses
before waivers and/or expense reimbursement |
0.83% |
0.94% |
1.61% |
2.02% |
5.77% |
Net
investment income (loss) |
4.25% |
1.02% |
1.57% |
1.50% |
0.43% |
Portfolio
turnover rate(d) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.59 |
$11.57 |
$11.64 |
$11.86 |
$10.93 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.40 |
0.16 |
0.19 |
0.16 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.23) |
3.11 |
0.34 |
0.09 |
0.98 |
Total from
investment operations |
(0.83) |
3.27 |
0.53 |
0.25 |
1.14 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.97) |
(0.16) |
(0.23) |
(0.29) |
(0.20) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.38) |
(0.25) |
(0.60) |
(0.47) |
(0.21) |
Net asset
value, end of Year |
$12.38 |
$14.59 |
$11.57 |
$11.64 |
$11.86 |
Total
Return(b): |
(6.69)% |
28.52% |
4.42% |
2.73% |
10.49% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$627 |
$3,617 |
$2,187 |
$1,491 |
$550 |
Average
net assets (000) |
$662 |
$2,996 |
$1,720 |
$915 |
$281 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.30% |
0.29% |
0.29% |
0.30% |
0.26% |
Expenses
before waivers and/or expense reimbursement |
0.95% |
0.85% |
1.76% |
2.43% |
6.12% |
Net
investment income (loss) |
3.00% |
1.23% |
1.69% |
1.42% |
1.34% |
Portfolio
turnover rate(d) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.60 |
$11.58 |
$11.65 |
$11.87 |
$10.94 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.17 |
0.21 |
0.25 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.23) |
3.11 |
0.33 |
0.01 |
0.97 |
Total from
investment operations |
(0.81) |
3.28 |
0.54 |
0.26 |
1.15 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
(0.21) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.39) |
(0.26) |
(0.61) |
(0.48) |
(0.22) |
Net asset
value, end of Year |
$12.40 |
$14.60 |
$11.58 |
$11.65 |
$11.87 |
Total
Return(b): |
(6.53)% |
28.61% |
4.52% |
2.84% |
10.60% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$50 |
$34 |
$17 |
$12 |
$61 |
Average
net assets (000) |
$42 |
$26 |
$13 |
$35 |
$124 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.20% |
0.19% |
0.19% |
0.20% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
9.44% |
26.10% |
98.42% |
33.44% |
11.98% |
Net
investment income (loss) |
3.13% |
1.25% |
1.84% |
2.14% |
1.58% |
Portfolio
turnover rate(d) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.61 |
$11.58 |
$11.65 |
$11.88 |
$10.95 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.18 |
0.24 |
0.22 |
0.08 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.27) |
3.12 |
0.31 |
0.04 |
1.09 |
Total from
investment operations |
(0.80) |
3.30 |
0.55 |
0.26 |
1.17 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.99) |
(0.18) |
(0.25) |
(0.31) |
(0.23) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.40) |
(0.27) |
(0.62) |
(0.49) |
(0.24) |
Net asset
value, end of Year |
$12.41 |
$14.61 |
$11.58 |
$11.65 |
$11.88 |
Total
Return(b): |
(6.43)% |
28.81% |
4.61% |
2.87% |
10.71% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$6,697 |
$7,393 |
$6,114 |
$6,056 |
$6,070 |
Average
net assets (000) |
$7,073 |
$6,748 |
$5,963 |
$5,822 |
$1,981 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.10% |
0.09% |
0.09% |
0.10% |
0.09% |
Expenses
before waivers and/or expense reimbursement |
0.46% |
0.53% |
1.01% |
1.18% |
1.75% |
Net
investment income (loss) |
3.43% |
1.39% |
2.09% |
1.94% |
0.72% |
Portfolio
turnover rate(d) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.63 |
$11.59 |
$11.66 |
$11.89 |
$10.96 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.49 |
0.20 |
0.22 |
0.23 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.27) |
3.13 |
0.35 |
0.05 |
0.98 |
Total from
investment operations |
(0.78) |
3.33 |
0.57 |
0.28 |
1.18 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.02) |
(0.20) |
(0.27) |
(0.33) |
(0.24) |
Distributions
from net realized gains |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
(0.01) |
Total
dividends and distributions |
(1.43) |
(0.29) |
(0.64) |
(0.51) |
(0.25) |
Net asset
value, end of Year |
$12.42 |
$14.63 |
$11.59 |
$11.66 |
$11.89 |
Total
Return(b): |
(6.35)% |
29.05% |
4.67% |
3.13% |
10.86% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$37,802 |
$43,332 |
$31,333 |
$17,752 |
$12,643 |
Average
net assets (000) |
$45,103 |
$41,893 |
$20,948 |
$15,067 |
$9,501 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.05)% |
(0.06)% |
(0.06)% |
(0.05)% |
(0.11)% |
Expenses
before waivers and/or expense reimbursement |
0.27% |
0.30% |
0.70% |
0.91% |
1.52% |
Net
investment income (loss) |
3.58% |
1.54% |
1.96% |
2.01% |
1.75% |
Portfolio
turnover rate(e) |
54% |
41% |
44% |
26% |
27% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.56 |
$11.34 |
$11.47 |
$11.91 |
$10.97 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.32 |
0.09 |
0.17 |
0.14 |
0.11 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.25) |
3.32 |
0.27 |
(0.04) |
1.02 |
Total from
investment operations |
(0.93) |
3.41 |
0.44 |
0.10 |
1.13 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.90) |
(0.11) |
(0.18) |
(0.24) |
(0.18) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.84) |
(0.19) |
(0.57) |
(0.54) |
(0.19) |
Net asset
value, end of Year |
$11.79 |
$14.56 |
$11.34 |
$11.47 |
$11.91 |
Total
Return(b): |
(7.75)% |
30.36% |
3.66% |
1.78% |
10.31% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$15 |
$19 |
$14 |
$13 |
$12 |
Average
net assets (000) |
$18 |
$17 |
$13 |
$12 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.68% |
0.68% |
0.68% |
0.69% |
0.62% |
Expenses
before waivers and/or expense reimbursement |
21.60% |
40.37% |
98.28% |
96.93% |
110.92% |
Net
investment income (loss) |
2.44% |
0.69% |
1.54% |
1.26% |
0.96% |
Portfolio
turnover rate(d) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.59 |
$11.36 |
$11.49 |
$11.94 |
$10.98 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.33 |
0.11 |
0.03 |
0.09 |
0.13 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.24) |
3.34 |
0.44 |
0.03 |
1.04 |
Total from
investment operations |
(0.91) |
3.45 |
0.47 |
0.12 |
1.17 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.93) |
(0.14) |
(0.21) |
(0.27) |
(0.20) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.87) |
(0.22) |
(0.60) |
(0.57) |
(0.21) |
Net asset
value, end of Year |
$11.81 |
$14.59 |
$11.36 |
$11.49 |
$11.94 |
Total
Return(b): |
(7.56)% |
30.67% |
3.92% |
1.99% |
10.75% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$316 |
$341 |
$220 |
$98 |
$27 |
Average
net assets (000) |
$369 |
$235 |
$152 |
$58 |
$17 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43% |
0.43% |
0.43% |
0.44% |
0.38% |
Expenses
before waivers and/or expense reimbursement |
2.07% |
3.78% |
10.18% |
21.72% |
78.26% |
Net
investment income (loss) |
2.53% |
0.83% |
0.24% |
0.78% |
1.09% |
Portfolio
turnover rate(d) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.60 |
$11.37 |
$11.50 |
$11.94 |
$10.99 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.07 |
0.14 |
0.21 |
0.18 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.96) |
3.33 |
0.28 |
(0.03) |
1.03 |
Total from
investment operations |
(0.89) |
3.47 |
0.49 |
0.15 |
1.18 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.95) |
(0.16) |
(0.23) |
(0.29) |
(0.22) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.89) |
(0.24) |
(0.62) |
(0.59) |
(0.23) |
Net asset
value, end of Year |
$11.82 |
$14.60 |
$11.37 |
$11.50 |
$11.94 |
Total
Return(b): |
(7.43)% |
30.83% |
4.07% |
2.26% |
10.79% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$36 |
$12,568 |
$8,750 |
$7,639 |
$5,927 |
Average
net assets (000) |
$301 |
$10,686 |
$7,880 |
$6,657 |
$4,901 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.28% |
0.28% |
0.28% |
0.29% |
0.22% |
Expenses
before waivers and/or expense reimbursement |
2.13% |
0.81% |
1.51% |
1.80% |
2.11% |
Net
investment income (loss) |
0.58% |
1.07% |
1.90% |
1.58% |
1.33% |
Portfolio
turnover rate(d) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.61 |
$11.37 |
$11.50 |
$11.95 |
$11.00 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38 |
0.16 |
0.22 |
0.23 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.25) |
3.33 |
0.28 |
(0.08) |
0.95 |
Total from
investment operations |
(0.87) |
3.49 |
0.50 |
0.15 |
1.19 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.97) |
(0.17) |
(0.24) |
(0.30) |
(0.23) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.91) |
(0.25) |
(0.63) |
(0.60) |
(0.24) |
Net asset
value, end of Year |
$11.83 |
$14.61 |
$11.37 |
$11.50 |
$11.95 |
Total
Return(b): |
(7.31)% |
31.03% |
4.19% |
2.29% |
10.90% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$46 |
$42 |
$32 |
$31 |
$458 |
Average
net assets (000) |
$42 |
$37 |
$30 |
$217 |
$361 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18% |
0.18% |
0.18% |
0.20% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
9.50% |
18.71% |
44.47% |
6.89% |
5.30% |
Net
investment income (loss) |
2.88% |
1.19% |
2.02% |
2.01% |
2.04% |
Portfolio
turnover rate(d) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.63 |
$11.39 |
$11.51 |
$11.96 |
$11.01 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.39 |
0.17 |
0.16 |
0.18 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.25) |
3.33 |
0.36 |
(0.02) |
1.06 |
Total from
investment operations |
(0.86) |
3.50 |
0.52 |
0.16 |
1.20 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.98) |
(0.18) |
(0.25) |
(0.31) |
(0.24) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.92) |
(0.26) |
(0.64) |
(0.61) |
(0.25) |
Net asset
value, end of Year |
$11.85 |
$14.63 |
$11.39 |
$11.51 |
$11.96 |
Total
Return(b): |
(7.20)% |
31.10% |
4.34% |
2.41% |
11.00% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$786 |
$650 |
$407 |
$174 |
$51 |
Average
net assets (000) |
$703 |
$525 |
$265 |
$101 |
$19 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08% |
0.08% |
0.08% |
0.09% |
0.04% |
Expenses
before waivers and/or expense reimbursement |
1.11% |
1.84% |
6.12% |
12.95% |
67.28% |
Net
investment income (loss) |
2.96% |
1.27% |
1.48% |
1.62% |
1.24% |
Portfolio
turnover rate(d) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.66 |
$11.41 |
$11.53 |
$11.99 |
$11.03 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.18 |
0.21 |
0.22 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.27) |
3.35 |
0.32 |
(0.05) |
1.04 |
Total from
investment operations |
(0.85) |
3.53 |
0.53 |
0.17 |
1.23 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.00) |
(0.20) |
(0.26) |
(0.33) |
(0.26) |
Distributions
from net realized gains |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
(0.01) |
Total
dividends and distributions |
(1.94) |
(0.28) |
(0.65) |
(0.63) |
(0.27) |
Net asset
value, end of Year |
$11.87 |
$14.66 |
$11.41 |
$11.53 |
$11.99 |
Total
Return(b): |
(7.12)% |
31.31% |
4.49% |
2.50% |
11.24% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$29,859 |
$32,739 |
$20,178 |
$9,601 |
$7,129 |
Average
net assets (000) |
$34,127 |
$28,077 |
$11,758 |
$8,229 |
$5,157 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.07)% |
(0.07)% |
(0.07)% |
(0.06)% |
(0.12)% |
Expenses
before waivers and/or expense reimbursement |
0.42% |
0.42% |
1.11% |
1.43% |
1.77% |
Net
investment income (loss) |
3.17% |
1.40% |
1.89% |
1.99% |
1.63% |
Portfolio
turnover rate(e) |
50% |
38% |
47% |
31% |
33% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.87 |
$11.49 |
$11.59 |
$11.92 |
$10.95 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.30 |
0.07 |
0.08 |
0.13 |
0.11 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.36) |
3.51 |
0.31 |
(0.02) |
1.05 |
Total from
investment operations |
(1.06) |
3.58 |
0.39 |
0.11 |
1.16 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.91) |
(0.12) |
(0.19) |
(0.25) |
(0.18) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.49) |
(0.20) |
(0.49) |
(0.44) |
(0.19) |
Net asset
value, end of Year |
$12.32 |
$14.87 |
$11.49 |
$11.59 |
$11.92 |
Total
Return(b): |
(8.23)% |
31.41% |
3.24% |
1.61% |
10.68% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$47 |
$44 |
$33 |
$166 |
$142 |
Average
net assets (000) |
$46 |
$37 |
$54 |
$145 |
$122 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.68% |
0.67% |
0.67% |
0.68% |
0.61% |
Expenses
before waivers and/or expense reimbursement |
9.34% |
18.74% |
26.33% |
11.03% |
15.48% |
Net
investment income (loss) |
2.18% |
0.55% |
0.69% |
1.11% |
0.95% |
Portfolio
turnover rate(d) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.90 |
$11.51 |
$11.59 |
$11.93 |
$10.96 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.50 |
0.11 |
0.17 |
0.15 |
0.03 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.51) |
3.51 |
0.26 |
(0.03) |
1.16 |
Total from
investment operations |
(1.01) |
3.62 |
0.43 |
0.12 |
1.19 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.95) |
(0.15) |
(0.21) |
(0.27) |
(0.21) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.53) |
(0.23) |
(0.51) |
(0.46) |
(0.22) |
Net asset
value, end of Year |
$12.36 |
$14.90 |
$11.51 |
$11.59 |
$11.93 |
Total
Return(b): |
(7.92)% |
31.72% |
3.53% |
1.83% |
10.96% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$337 |
$5,209 |
$3,110 |
$1,951 |
$982 |
Average
net assets (000) |
$3,647 |
$4,026 |
$2,447 |
$1,348 |
$284 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43% |
0.42% |
0.42% |
0.43% |
0.41% |
Expenses
before waivers and/or expense reimbursement |
1.15% |
1.28% |
2.57% |
3.75% |
8.52% |
Net
investment income (loss) |
3.51% |
0.81% |
1.53% |
1.33% |
0.26% |
Portfolio
turnover rate(d) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.93 |
$11.53 |
$11.61 |
$11.95 |
$10.97 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.06 |
0.13 |
0.16 |
0.14 |
0.12 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.06) |
3.51 |
0.28 |
-(b) |
1.10 |
Total from
investment operations |
(1.00) |
3.64 |
0.44 |
0.14 |
1.22 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.97) |
(0.16) |
(0.22) |
(0.29) |
(0.23) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.55) |
(0.24) |
(0.52) |
(0.48) |
(0.24) |
Net asset
value, end of Year |
$12.38 |
$14.93 |
$11.53 |
$11.61 |
$11.95 |
Total
Return(c): |
(7.83)% |
31.93% |
3.65% |
2.01% |
11.19% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$15 |
$4,071 |
$2,212 |
$1,074 |
$347 |
Average
net assets (000) |
$81 |
$3,123 |
$1,564 |
$655 |
$162 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.27% |
0.27% |
0.27% |
0.28% |
0.24% |
Expenses
before waivers and/or expense reimbursement |
5.80% |
1.15% |
2.70% |
4.43% |
12.24% |
Net
investment income (loss) |
0.52% |
0.97% |
1.45% |
1.22% |
1.01% |
Portfolio
turnover rate(e) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.91 |
$11.51 |
$11.59 |
$11.95 |
$10.98 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.13 |
0.15 |
0.22 |
1.53 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.12) |
3.50 |
0.24 |
(1.40) |
1.08 |
Total from
investment operations |
(0.99) |
3.65 |
0.46 |
0.13 |
1.22 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
(0.24) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.56) |
(0.25) |
(0.54) |
(0.49) |
(0.25) |
Net asset
value, end of Year |
$12.36 |
$14.91 |
$11.51 |
$11.59 |
$11.95 |
Total
Return(b): |
(7.79)% |
32.10% |
3.81% |
1.95% |
11.21% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$89 |
$17 |
$13 |
$12 |
$160 |
Average
net assets (000) |
$59 |
$15 |
$12 |
$68 |
$113 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18% |
0.17% |
0.17% |
0.19% |
0.12% |
Expenses
before waivers and/or expense reimbursement |
7.09% |
43.52% |
106.71% |
19.83% |
15.66% |
Net
investment income (loss) |
0.98% |
1.12% |
1.94% |
13.14% |
1.24% |
Portfolio
turnover rate(d) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.94 |
$11.54 |
$11.62 |
$11.96 |
$10.99 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.39 |
0.16 |
0.24 |
0.20 |
0.07 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.36) |
3.51 |
0.23 |
(0.03) |
1.16 |
Total from
investment operations |
(0.97) |
3.67 |
0.47 |
0.17 |
1.23 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.00) |
(0.19) |
(0.25) |
(0.32) |
(0.25) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.58) |
(0.27) |
(0.55) |
(0.51) |
(0.26) |
Net asset
value, end of Year |
$12.39 |
$14.94 |
$11.54 |
$11.62 |
$11.96 |
Total
Return(b): |
(7.63)% |
32.13% |
3.90% |
2.24% |
11.31% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,170 |
$1,149 |
$778 |
$732 |
$560 |
Average
net assets (000) |
$1,196 |
$950 |
$725 |
$608 |
$176 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08% |
0.07% |
0.07% |
0.08% |
0.06% |
Expenses
before waivers and/or expense reimbursement |
1.03% |
1.44% |
3.47% |
4.47% |
10.80% |
Net
investment income (loss) |
2.87% |
1.19% |
2.11% |
1.73% |
0.56% |
Portfolio
turnover rate(d) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.98 |
$11.57 |
$11.64 |
$11.99 |
$11.00 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.41 |
0.18 |
0.24 |
0.20 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.36) |
3.52 |
0.26 |
(0.03) |
1.08 |
Total from
investment operations |
(0.95) |
3.70 |
0.50 |
0.17 |
1.27 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.02) |
(0.21) |
(0.27) |
(0.33) |
(0.27) |
Distributions
from net realized gains |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
(0.01) |
Total
dividends and distributions |
(1.60) |
(0.29) |
(0.57) |
(0.52) |
(0.28) |
Net asset
value, end of Year |
$12.43 |
$14.98 |
$11.57 |
$11.64 |
$11.99 |
Total
Return(b): |
(7.47)% |
32.33% |
4.11% |
2.33% |
11.65% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$18,346 |
$18,291 |
$13,037 |
$7,037 |
$3,884 |
Average
net assets (000) |
$20,531 |
$17,795 |
$8,309 |
$5,316 |
$2,964 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.07)% |
(0.08)% |
(0.08)% |
(0.07)% |
(0.13)% |
Expenses
before waivers and/or expense reimbursement |
0.58% |
0.63% |
1.67% |
2.60% |
4.62% |
Net
investment income (loss) |
2.98% |
1.33% |
2.13% |
1.75% |
1.64% |
Portfolio
turnover rate(e) |
59% |
39% |
42% |
30% |
56% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.78 |
$11.33 |
$11.52 |
$12.10 |
$11.07 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.26 |
0.08 |
0.18 |
0.14 |
0.10 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.10) |
3.58 |
0.18 |
(0.15) |
1.12 |
Total from
investment operations |
(0.84) |
3.66 |
0.36 |
(0.01) |
1.22 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.91) |
(0.11) |
(0.19) |
(0.24) |
(0.19) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.66) |
(0.21) |
(0.55) |
(0.57) |
(0.19) |
Net asset
value, end of Year |
$10.28 |
$14.78 |
$11.33 |
$11.52 |
$12.10 |
Total
Return(b): |
(8.47)% |
32.63% |
2.89% |
0.89% |
11.10% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$17 |
$18 |
$14 |
$15 |
$15 |
Average
net assets (000) |
$18 |
$16 |
$14 |
$15 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.67% |
0.66% |
0.65% |
0.66% |
0.61% |
Expenses
before waivers and/or expense reimbursement |
22.90% |
42.22% |
93.51% |
81.24% |
110.87% |
Net
investment income (loss) |
2.17% |
0.57% |
1.62% |
1.22% |
0.87% |
Portfolio
turnover rate(d) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.82 |
$11.36 |
$11.54 |
$12.12 |
$11.09 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.29 |
0.10 |
0.14 |
0.12 |
0.10 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.11) |
3.60 |
0.25 |
(0.10) |
1.15 |
Total from
investment operations |
(0.82) |
3.70 |
0.39 |
0.02 |
1.25 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.94) |
(0.14) |
(0.21) |
(0.27) |
(0.22) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.69) |
(0.24) |
(0.57) |
(0.60) |
(0.22) |
Net asset
value, end of Year |
$10.31 |
$14.82 |
$11.36 |
$11.54 |
$12.12 |
Total
Return(b): |
(8.28)% |
32.93% |
3.19% |
1.19% |
11.34% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$278 |
$305 |
$142 |
$63 |
$36 |
Average
net assets (000) |
$311 |
$188 |
$83 |
$43 |
$23 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.42% |
0.41% |
0.40% |
0.41% |
0.37% |
Expenses
before waivers and/or expense reimbursement |
4.25% |
6.37% |
19.04% |
30.82% |
58.64% |
Net
investment income (loss) |
2.40% |
0.73% |
1.28% |
1.05% |
0.86% |
Portfolio
turnover rate(d) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.82 |
$11.36 |
$11.55 |
$12.13 |
$11.10 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.02 |
0.13 |
0.20 |
0.18 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.80) |
3.59 |
0.20 |
(0.14) |
1.12 |
Total from
investment operations |
(0.78) |
3.72 |
0.40 |
0.04 |
1.27 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.97) |
(0.16) |
(0.23) |
(0.29) |
(0.24) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.72) |
(0.26) |
(0.59) |
(0.62) |
(0.24) |
Net asset
value, end of Year |
$10.32 |
$14.82 |
$11.36 |
$11.55 |
$12.13 |
Total
Return(b): |
(8.03)% |
33.09% |
3.26% |
1.37% |
11.48% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$15 |
$7,549 |
$4,867 |
$3,699 |
$2,791 |
Average
net assets (000) |
$166 |
$6,237 |
$4,140 |
$3,177 |
$2,323 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.25% |
0.26% |
0.25% |
0.26% |
0.21% |
Expenses
before waivers and/or expense reimbursement |
3.82% |
1.52% |
2.92% |
3.70% |
4.29% |
Net
investment income (loss) |
0.15% |
0.95% |
1.83% |
1.59% |
1.26% |
Portfolio
turnover rate(d) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.84 |
$11.37 |
$11.56 |
$12.14 |
$11.11 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.31 |
0.14 |
0.22 |
0.26 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.09) |
3.60 |
0.19 |
(0.21) |
1.12 |
Total from
investment operations |
(0.78) |
3.74 |
0.41 |
0.05 |
1.28 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
(0.25) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.73) |
(0.27) |
(0.60) |
(0.63) |
(0.25) |
Net asset
value, end of Year |
$10.33 |
$14.84 |
$11.37 |
$11.56 |
$12.14 |
Total
Return(b): |
(8.01)% |
33.27% |
3.38% |
1.49% |
11.59% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$20 |
$17 |
$13 |
$13 |
$66 |
Average
net assets (000) |
$18 |
$15 |
$12 |
$33 |
$56 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.17% |
0.16% |
0.15% |
0.17% |
0.11% |
Expenses
before waivers and/or expense reimbursement |
22.13% |
43.43% |
106.71% |
37.86% |
26.45% |
Net
investment income (loss) |
2.54% |
1.07% |
2.02% |
2.20% |
1.34% |
Portfolio
turnover rate(d) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.86 |
$11.38 |
$11.56 |
$12.15 |
$11.12 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.34 |
0.15 |
0.24 |
0.14 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.11) |
3.61 |
0.19 |
(0.09) |
1.13 |
Total from
investment operations |
(0.77) |
3.76 |
0.43 |
0.05 |
1.29 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.99) |
(0.18) |
(0.25) |
(0.31) |
(0.26) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.74) |
(0.28) |
(0.61) |
(0.64) |
(0.26) |
Net asset
value, end of Year |
$10.35 |
$14.86 |
$11.38 |
$11.56 |
$12.15 |
Total
Return(b): |
(7.88)% |
33.45% |
3.51% |
1.53% |
11.69% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$367 |
$247 |
$136 |
$90 |
$21 |
Average
net assets (000) |
$317 |
$188 |
$111 |
$50 |
$14 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.07% |
0.06% |
0.05% |
0.05% |
0.01% |
Expenses
before waivers and/or expense reimbursement |
2.87% |
4.74% |
14.21% |
26.07% |
96.19% |
Net
investment income (loss) |
2.79% |
1.12% |
2.15% |
1.20% |
1.37% |
Portfolio
turnover rate(d) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$14.86 |
$11.38 |
$11.57 |
$12.16 |
$11.13 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.37 |
0.17 |
0.22 |
0.21 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.12) |
3.61 |
0.22 |
(0.14) |
1.12 |
Total from
investment operations |
(0.75) |
3.78 |
0.44 |
0.07 |
1.31 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.02) |
(0.20) |
(0.27) |
(0.33) |
(0.28) |
Distributions
from net realized gains |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
- |
Total
dividends and distributions |
(3.77) |
(0.30) |
(0.63) |
(0.66) |
(0.28) |
Net asset
value, end of Year |
$10.34 |
$14.86 |
$11.38 |
$11.57 |
$12.16 |
Total
Return(b): |
(7.82)% |
33.63% |
3.60% |
1.72% |
11.85% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$6,382 |
$7,681 |
$5,451 |
$3,635 |
$2,777 |
Average
net assets (000) |
$8,322 |
$7,616 |
$4,340 |
$3,169 |
$2,185 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.08)% |
(0.09)% |
(0.10)% |
(0.09)% |
(0.13)% |
Expenses
before waivers and/or expense reimbursement |
1.57% |
1.16% |
2.57% |
3.36% |
3.99% |
Net
investment income (loss) |
3.01% |
1.27% |
2.01% |
1.87% |
1.62% |
Portfolio
turnover rate(e) |
60% |
37% |
45% |
29% |
29% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.17 |
$11.49 |
$11.62 |
$12.06 |
$11.01 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.29 |
0.08 |
0.17 |
0.13 |
0.10 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.46) |
3.74 |
0.16 |
(0.15) |
1.15 |
Total from
investment operations |
(1.17) |
3.82 |
0.33 |
(0.02) |
1.25 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.95) |
(0.08) |
(0.20) |
(0.25) |
(0.20) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.18) |
(0.14) |
(0.46) |
(0.42) |
(0.20) |
Net asset
value, end of Year |
$12.82 |
$15.17 |
$11.49 |
$11.62 |
$12.06 |
Total
Return(b): |
(8.62)% |
33.45% |
2.70% |
0.57% |
11.37% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$17 |
$17 |
$13 |
$12 |
$12 |
Average
net assets (000) |
$17 |
$15 |
$12 |
$12 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.66% |
0.65% |
0.65% |
0.66% |
0.61% |
Expenses
before waivers and/or expense reimbursement |
23.66% |
46.33% |
114.36% |
111.01% |
149.96% |
Net
investment income (loss) |
2.06% |
0.56% |
1.56% |
1.10% |
0.87% |
Portfolio
turnover rate(d) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.21 |
$11.52 |
$11.63 |
$12.08 |
$11.03 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.52 |
0.10 |
0.16 |
0.15 |
0.06 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.66) |
3.76 |
0.21 |
(0.15) |
1.21 |
Total from
investment operations |
(1.14) |
3.86 |
0.37 |
-(b) |
1.27 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.98) |
(0.11) |
(0.22) |
(0.28) |
(0.22) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.21) |
(0.17) |
(0.48) |
(0.45) |
(0.22) |
Net asset
value, end of Year |
$12.86 |
$15.21 |
$11.52 |
$11.63 |
$12.08 |
Total
Return(c): |
(8.37)% |
33.76% |
2.96% |
0.79% |
11.61% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$199 |
$1,755 |
$889 |
$388 |
$94 |
Average
net assets (000) |
$1,330 |
$1,291 |
$587 |
$226 |
$29 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.41% |
0.40% |
0.40% |
0.41% |
0.38% |
Expenses
before waivers and/or expense reimbursement |
2.45% |
3.46% |
9.69% |
18.79% |
79.88% |
Net
investment income (loss) |
3.57% |
0.74% |
1.47% |
1.31% |
0.51% |
Portfolio
turnover rate(e) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Amount
rounds to zero. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.25 |
$11.55 |
$11.65 |
$12.09 |
$11.04 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.16 |
0.12 |
0.17 |
0.14 |
0.13 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.28) |
3.77 |
0.21 |
(0.11) |
1.16 |
Total from
investment operations |
(1.12) |
3.89 |
0.38 |
0.03 |
1.29 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.01) |
(0.13) |
(0.22) |
(0.30) |
(0.24) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.24) |
(0.19) |
(0.48) |
(0.47) |
(0.24) |
Net asset
value, end of Year |
$12.89 |
$15.25 |
$11.55 |
$11.65 |
$12.09 |
Total
Return(b): |
(8.28)% |
33.94% |
3.12% |
1.05% |
11.75% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$31 |
$1,472 |
$685 |
$279 |
$121 |
Average
net assets (000) |
$55 |
$1,051 |
$450 |
$173 |
$80 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.25% |
0.25% |
0.25% |
0.26% |
0.22% |
Expenses
before waivers and/or expense reimbursement |
8.75% |
3.27% |
10.14% |
20.50% |
53.70% |
Net
investment income (loss) |
1.25% |
0.89% |
1.54% |
1.25% |
1.11% |
Portfolio
turnover rate(d) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.26 |
$11.56 |
$11.65 |
$12.10 |
$11.04 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.37 |
0.14 |
0.23 |
0.19 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.47) |
3.76 |
0.17 |
(0.16) |
1.15 |
Total from
investment operations |
(1.10) |
3.90 |
0.40 |
0.03 |
1.31 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.02) |
(0.14) |
(0.23) |
(0.31) |
(0.25) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.25) |
(0.20) |
(0.49) |
(0.48) |
(0.25) |
Net asset
value, end of Year |
$12.91 |
$15.26 |
$11.56 |
$11.65 |
$12.10 |
Total
Return(b): |
(8.12)% |
34.14% |
3.18% |
1.09% |
11.96% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$18 |
$17 |
$13 |
$12 |
$13 |
Average
net assets (000) |
$17 |
$15 |
$12 |
$12 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.15% |
0.16% |
0.11% |
Expenses
before waivers and/or expense reimbursement |
22.95% |
44.92% |
112.23% |
106.19% |
147.15% |
Net
investment income (loss) |
2.60% |
1.06% |
2.06% |
1.66% |
1.35% |
Portfolio
turnover rate(d) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.28 |
$11.57 |
$11.66 |
$12.11 |
$11.05 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.36 |
0.14 |
0.21 |
0.02 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.45) |
3.78 |
0.20 |
0.02 |
1.16 |
Total from
investment operations |
(1.09) |
3.92 |
0.41 |
0.04 |
1.32 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.03) |
(0.15) |
(0.24) |
(0.32) |
(0.26) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.26) |
(0.21) |
(0.50) |
(0.49) |
(0.26) |
Net asset
value, end of Year |
$12.93 |
$15.28 |
$11.57 |
$11.66 |
$12.11 |
Total
Return(b): |
(8.01)% |
34.21% |
3.30% |
1.21% |
12.06% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$442 |
$227 |
$95 |
$67 |
$16 |
Average
net assets (000) |
$333 |
$154 |
$84 |
$35 |
$13 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.06% |
0.05% |
0.05% |
0.06% |
0.01% |
Expenses
before waivers and/or expense reimbursement |
2.96% |
6.69% |
22.80% |
45.88% |
140.94% |
Net
investment income (loss) |
2.58% |
1.02% |
1.91% |
0.15% |
1.39% |
Portfolio
turnover rate(d) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||||
|
Year
Ended July 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$15.31 |
$11.58 |
$11.66 |
$12.11 |
$11.06 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.40 |
0.15 |
0.24 |
0.22 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.47) |
3.81 |
0.18 |
(0.16) |
1.11 |
Total from
investment operations |
(1.07) |
3.96 |
0.42 |
0.06 |
1.33 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(1.06) |
(0.17) |
(0.24) |
(0.34) |
(0.28) |
Distributions
from net realized gains |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
- |
Total
dividends and distributions |
(1.29) |
(0.23) |
(0.50) |
(0.51) |
(0.28) |
Net asset
value, end of Year |
$12.95 |
$15.31 |
$11.58 |
$11.66 |
$12.11 |
Total
Return(b): |
(7.93)% |
34.50% |
3.46% |
1.39% |
12.12% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$6,246 |
$5,912 |
$2,154 |
$1,424 |
$452 |
Average
net assets (000) |
$6,501 |
$4,213 |
$1,657 |
$981 |
$266 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.09)% |
(0.10)% |
(0.10)% |
(0.09)% |
(0.14)% |
Expenses
before waivers and/or expense reimbursement |
1.79% |
2.32% |
7.79% |
14.67% |
42.30% |
Net
investment income (loss) |
2.85% |
1.11% |
2.09% |
1.90% |
1.84% |
Portfolio
turnover rate(e) |
64% |
35% |
44% |
35% |
90% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each year reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to
GAAP. |
(c) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(d) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(e) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R1 Shares | |||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.74 |
$9.56 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.26 |
0.06 |
0.02 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.25) |
3.18 |
(0.41) |
Total from
investment operations |
(0.99) |
3.24 |
(0.39) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.79) |
(0.05) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.95) |
(0.06) |
(0.05) |
Net asset
value, end of Period |
$10.80 |
$12.74 |
$9.56 |
Total
Return(c): |
(8.61)% |
33.98% |
(3.96)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$12 |
$13 |
$10 |
Average
net assets (000) |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement |
0.66% |
0.65% |
0.65%(e) |
Expenses
before waivers and/or expense reimbursement |
59.08% |
96.73% |
485.07%(e) |
Net
investment income (loss) |
2.16% |
0.55% |
0.32%(e) |
Portfolio
turnover rate(f) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
Annualized. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R2 Shares | |||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.77 |
$9.58 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.23 |
0.07 |
0.03 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.20) |
3.20 |
(0.40) |
Total from
investment operations |
(0.97) |
3.27 |
(0.37) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.82) |
(0.07) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.98) |
(0.08) |
(0.05) |
Net asset
value, end of Period |
$10.82 |
$12.77 |
$9.58 |
Total
Return(c): |
(8.45)% |
34.30% |
(3.75)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$73 |
$36 |
$12 |
Average
net assets (000) |
$65 |
$22 |
$10 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement |
0.41% |
0.40% |
0.40%(e) |
Expenses
before waivers and/or expense reimbursement |
34.43% |
71.91% |
446.28%(e) |
Net
investment income (loss) |
1.97% |
0.63% |
0.49%(e) |
Portfolio
turnover rate(f) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
Annualized. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R3 Shares | |||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.78 |
$9.59 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.30 |
0.11 |
0.04 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.25) |
3.18 |
(0.40) |
Total from
investment operations |
(0.95) |
3.29 |
(0.36) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.84) |
(0.09) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(1.00) |
(0.10) |
(0.05) |
Net asset
value, end of Period |
$10.83 |
$12.78 |
$9.59 |
Total
Return(c): |
(8.30)% |
34.44% |
(3.65)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$12 |
$13 |
$10 |
Average
net assets (000) |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.25% |
0.25%(e) |
Expenses
before waivers and/or expense reimbursement |
58.37% |
96.05% |
484.23%(e) |
Net
investment income (loss) |
2.56% |
0.95% |
0.72%(e) |
Portfolio
turnover rate(f) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
Annualized. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R4 Shares | |||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.79 |
$9.59 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.32 |
0.12 |
0.05 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.26) |
3.19 |
(0.41) |
Total from
investment operations |
(0.94) |
3.31 |
(0.36) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.85) |
(0.10) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(1.01) |
(0.11) |
(0.05) |
Net asset
value, end of Period |
$10.84 |
$12.79 |
$9.59 |
Total
Return(c): |
(8.21)% |
34.66% |
(3.64)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$12 |
$13 |
$10 |
Average
net assets (000) |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.15% |
0.15%(e) |
Expenses
before waivers and/or expense reimbursement |
58.20% |
95.88% |
484.02%(e) |
Net
investment income (loss) |
2.66% |
1.04% |
0.82%(e) |
Portfolio
turnover rate(f) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
Annualized. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R5 Shares | |||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.80 |
$9.60 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.32 |
0.13 |
0.05 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.24) |
3.19 |
(0.40) |
Total from
investment operations |
(0.92) |
3.32 |
(0.35) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.87) |
(0.11) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(1.03) |
(0.12) |
(0.05) |
Net asset
value, end of Period |
$10.85 |
$12.80 |
$9.60 |
Total
Return(c): |
(8.11)% |
34.74% |
(3.54)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$14 |
$14 |
$11 |
Average
net assets (000) |
$14 |
$13 |
$10 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement |
0.06% |
0.05% |
0.05%(e) |
Expenses
before waivers and/or expense reimbursement |
54.91% |
93.88% |
458.95%(e) |
Net
investment income (loss) |
2.72% |
1.14% |
0.83%(e) |
Portfolio
turnover rate(f) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
Annualized. |
(f) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
Class
R6 Shares | |||
|
Year
Ended July31, |
December
16,
2019(a)
through
July
31, 2020 | |
|
2022 |
2021 | |
Per
Share Operating Performance(b): | |||
Net
Asset Value, Beginning of Period |
$12.81 |
$9.61 |
$10.00 |
Income
(loss) from investment operations: | |||
Net
investment income (loss) |
0.32 |
0.11 |
0.01 |
Net
realized and unrealized gain (loss) on investment
transactions |
(1.23) |
3.22 |
(0.35) |
Total from
investment operations |
(0.91) |
3.33 |
(0.34) |
Less
Dividends and Distributions: | |||
Dividends
from net investment income |
(0.88) |
(0.12) |
(0.05) |
Distributions
from net realized gains |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(1.04) |
(0.13) |
(0.05) |
Net asset
value, end of Period |
$10.86 |
$12.81 |
$9.61 |
Total
Return(c): |
(7.97)% |
34.88% |
(3.43)% |
| |||
Ratios/Supplemental
Data: | |||
Net
assets, end of Period
(000) |
$336 |
$433 |
$141 |
Average
net assets (000) |
$435 |
$331 |
$77 |
Ratios
to average net assets(d): | |||
Expenses
after waivers and/or expense reimbursement(e) |
0.00% |
0.00% |
0.00%(f) |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement from the manager |
(0.09)% |
(0.10)% |
(0.11)%(f) |
Expenses
before waivers and/or expense reimbursement |
25.56% |
34.59% |
166.46%(f) |
Net
investment income (loss) |
2.70% |
0.93% |
0.11%(f) |
Portfolio
turnover rate(g) |
67% |
94% |
19% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does not
include expenses of the underlying funds in which the Fund invests.
Expenses waived/reimbursed include those of underlying funds in which the
Fund invests.
Consequently,
the amount waived/reimbursed may be greater than the expense ratio
reflected in the financial highlights. |
(e) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(f) |
Annualized. |
(g) |
The Fund's
portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
FOR
MORE INFORMATION
Please read
this Prospectus before you invest in the Fund and keep it for future
reference.
For
information or shareholder questions contact: | |
◾MAIL
Prudential
Mutual Fund Services LLC
PO Box
9658
Providence,
RI 02940 ◾WEBSITE
www.pgim.com/investments |
◾TELEPHONE
(800)
225-1852
(973)
367-3529
(from
outside the U.S.) |
◾E-DELIVERY
To receive
your mutual fund documents on-line, go to
pgim.com/investments/resource/edelivery and enroll.
Instead of
receiving printed documents by mail, you will receive notification via
email when new materials are
available.
You can cancel your enrollment or change your email address at any time by
visiting the website address
above. |
The
Annual and Semi-Annual Reports and the SAI contain additional information
about the Fund. Shareholders may
obtain
free copies of the SAI, Annual Report and Semi-Annual Report as well as
other information about the Fund
and
may make other shareholder inquiries through the telephone number, address
and website listed above. | |
◾STATEMENT
OF ADDITIONAL INFORMATION (“SAI”)
(incorporated
by reference into this Prospectus) ◾SEMI-ANNUAL
REPORT |
◾ANNUAL
REPORT
(contains
a discussion of the market conditions and
investment
strategies that significantly affected the
Fund's
performance during the last fiscal
year) |
You
can also obtain copies of Fund documents, including the SAI, from the SEC
as follows (the SEC charges a fee to
copy
documents): | |
◾ELECTRONIC
REQUEST
|
◾VIA
THE INTERNET
on
the EDGAR Database at
www.sec.gov |
Prudential
Day One Income Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDADX |
PDAEX |
PDAFX |
PDAGX |
PDAHX |
PDAJX |
CUSIP |
74445D109 |
74445D208 |
74445D307 |
74445D406 |
74445D505 |
74445D604 |
Prudential
Day One 2015 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDCDX |
PDCEX |
PDCFX |
PDCGX |
PDCHX |
PDCJX |
CUSIP |
74445D844 |
74445D836 |
74445D828 |
74445D810 |
74445D794 |
74445D786 |
Prudential
Day One 2020 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDDDX |
PDDEX |
PDDFX |
PDDGX |
PDDHX |
PDDJX |
CUSIP |
74445D778 |
74445D760 |
74445D752 |
74445D745 |
74445D737 |
74445D729 |
Prudential
Day One 2025 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDEDX |
PDEEX |
PDEFX |
PDEGX |
PDEHX |
PDEJX |
CUSIP |
74445D711 |
74445D695 |
74445D687 |
74445D679 |
74445D661 |
74445D653 |
Prudential
Day One 2030 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDFCX |
PDFEX |
PDFFX |
PDFGX |
PDFHX |
PDFJX |
CUSIP |
74445D646 |
74445D638 |
74445D620 |
74445D612 |
74445D596 |
74445D588 |
Prudential
Day One 2035 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDGCX |
PDGEX |
PDGFX |
PDGGX |
PDGHX |
PDGJX |
CUSIP |
74445D570 |
74445D562 |
74445D554 |
74445D547 |
74445D539 |
74445D521 |
Prudential
Day One 2040 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDHDX |
PDHEX |
PDHFX |
PDHGX |
PDHHX |
PDHJX |
CUSIP |
74445D513 |
74445D497 |
74445D489 |
74445D471 |
74445D463 |
74445D455 |
Prudential
Day One 2045 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDIDX |
PDIEX |
PDIKX |
PDIGX |
PDIHX |
PDIJX |
CUSIP |
74445D448 |
74445D430 |
74445D422 |
74445D414 |
74445D398 |
74445D380 |
Prudential
Day One 2050 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDJDX |
PDJEX |
PDJFX |
PDJGX |
PDJHX |
PDJJX |
CUSIP |
74445D372 |
74445D364 |
74445D356 |
74445D349 |
74445D331 |
74445D323 |
Prudential
Day One 2055 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDKDX |
PDKEX |
PDKFX |
PDKGX |
PDKHX |
PDKJX |
CUSIP |
74445D315 |
74445D299 |
74445D281 |
74445D273 |
74445D265 |
74445D257 |
Prudential
Day One 2060 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDLDX |
PDLEX |
PDLFX |
PDLGX |
PDLHX |
PDLJX |
CUSIP |
74445D240 |
74445D232 |
74445D224 |
74445D216 |
74445D190 |
74445D182 |
Prudential
Day One 2065 Fund | ||||||
Share
Class |
R1 |
R2 |
R3 |
R4 |
R5 |
R6 |
NASDAQ |
PDOAX |
PDODX |
PDOEX |
PDOFX |
PDOGX |
PDOHX |
CUSIP |
74440V674 |
74440V666 |
74440V658 |
74440V641 |
74440V633 |
74440V625 |