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. © 2023
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. |
![]() |
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112 |
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122 |
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124 |
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129 |
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134 |
|
145 |
|
145 |
|
145 |
|
145 |
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146 |
|
146 |
|
146 |
|
147 |
|
147 |
|
147 |
|
149 |
|
150 |
|
150 |
|
154 |
|
156 |
|
161 |
|
234 |
|
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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 12-31-22) | ||||
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
12-31-22) | ||||
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(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 12-31-22) | ||||
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
12-31-22) | ||||
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(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 12-31-22) | ||||
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
12-31-22) | ||||
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(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 12-31-22) | ||||
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
12-31-22) | ||||
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(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 12-31-22) | ||||
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
12-31-22) | ||||
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 |
|
|
|
|
|
|
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 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R3 |
$ |
$ |
$ |
$ |
Class
R4 |
$ |
$ |
$ |
$ |
Class
R5 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R6 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
Class
R1 |
$ |
$ |
$ |
$ |
Class
R2 |
$ |
$ |
$ |
$ |
Share
Class |
1
Year |
3
Years |
5
Years |
10
Years |
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 12-31-22) | |||
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
12-31-22) | |||
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 |
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.
|
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
|
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. |
|
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.
|
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
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. |
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.
|
Underlying
Funds | |||
Asset
Class |
Name
of Underlying Fund |
Investment
Objective of Underlying Fund |
Principal
Investment
Strategies
of Underlying Fund |
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 |
15.64% |
15.55% |
15.52% |
15.60% |
14.92% |
14.34% |
13.06% |
10.21% |
7.91% |
7.02% |
6.22% |
5.80% |
PGIM
Quant
Solutions
Large-Cap
Core
Fund |
23.16% |
23.02% |
23.41% |
23.66% |
23.39% |
22.54% |
21.09% |
18.42% |
16.13% |
13.89% |
11.48% |
10.60% | |
PGIM
Quant
Solutions
Mid-Cap
Core
Fund |
8.92% |
8.92% |
8.68% |
8.16% |
6.76% |
5.09% |
3.42% |
2.22% |
1.59% |
1.22% |
1.05% |
1.00% | |
PGIM
Jennison
Small-Cap
Core
Equity
Fund |
5.02% |
4.96% |
4.92% |
4.68% |
4.18% |
3.77% |
3.02% |
2.05% |
1.47% |
1.21% |
1.05% |
1.00%
|
Target
Allocations for Underlying Funds | |||||||||||||
Category |
Fund
Name |
2065 |
2060 |
2055 |
2050 |
2045 |
2040 |
2035 |
2030 |
2025 |
2020 |
2015 |
Income |
International
Equity |
PGIM
Quant
Solutions
International
Developed
Markets
Index
Fund |
24.58% |
24.14% |
22.76% |
20.80% |
18.50% |
16.06% |
13.00% |
10.30% |
8.30% |
6.66% |
5.20% |
4.60% |
PGIM
Quant
Solutions
Emerging
Markets
Equity
Fund |
10.08% |
9.20% |
8.50% |
7.70% |
6.46% |
5.00% |
3.20% |
1.00% |
0.00% |
0.00% |
0.00% |
0.00% | |
Non-
Traditional |
PGIM
Global
Real
Estate
Fund |
5.00% |
5.00% |
5.00% |
5.00% |
5.00% |
5.00% |
5.60% |
6.00% |
6.00% |
6.00% |
6.00% |
6.00% |
PGIM
Quant
Solutions
Commodity
Strategies
Fund |
4.00% |
4.00% |
4.00% |
4.00% |
4.60% |
5.00% |
5.00% |
5.60% |
6.00% |
6.00% |
6.00% |
6.00% | |
Fixed
Income |
PGIM
TIPS
Fund |
0.00% |
0.00% |
1.20% |
1.60% |
4.40% |
7.80% |
11.40% |
16.60% |
19.60% |
21.20% |
22.60% |
23.00% |
PGIM
Core
Conservative
Bond
Fund |
0.00% |
0.00% |
0.00% |
1.60% |
3.40% |
4.73% |
5.60% |
7.20% |
10.40% |
12.60% |
14.80% |
16.00% | |
PGIM
Total
Return
Bond
Fund |
3.60% |
5.20% |
6.00% |
7.20% |
8.40% |
9.47% |
11.80% |
14.20% |
15.00% |
15.60% |
16.00% |
16.00% | |
PGIM
Core
Ultra-Short
Bond
Fund |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
1.20% |
3.80% |
6.20% |
7.60% |
8.60% |
9.60% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38 |
0.47 |
0.15 |
0.09 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.45) |
(1.08) |
1.23 |
0.50 |
0.25 |
Total
from investment operations |
(0.07) |
(0.61) |
1.38 |
0.59 |
0.45 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.40) |
(0.68) |
(0.13) |
(0.21) |
(0.24) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.65) |
(0.88) |
(0.19) |
(0.38) |
(0.31) |
Net
asset value, end of Year |
$9.92 |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
Total
Return(b): |
(0.34)% |
(5.43)% |
12.70% |
5.57% |
4.46% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$26 |
$26 |
$27 |
$24 |
$11 |
Average
net assets (000) |
$25 |
$27 |
$25 |
$18 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.76% |
0.75% |
0.74% |
0.74% |
Expenses
before waivers and/or expense reimbursement |
12.92% |
15.10% |
28.84% |
77.98% |
108.50% |
Net
investment income (loss) |
3.88% |
4.09% |
1.33% |
0.89% |
1.92% |
Portfolio
turnover rate(d) |
25% |
62% |
45% |
65% |
38% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
$10.59 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.40 |
0.58 |
0.18 |
0.20 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.44) |
(1.16) |
1.23 |
0.42 |
0.26 |
Total
from investment operations |
(0.04) |
(0.58) |
1.41 |
0.62 |
0.48 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.43) |
(0.71) |
(0.16) |
(0.24) |
(0.27) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.68) |
(0.91) |
(0.22) |
(0.41) |
(0.34) |
Net
asset value, end of Year |
$9.92 |
$10.64 |
$12.13 |
$10.94 |
$10.73 |
Total
Return(b): |
(0.08)% |
(5.20)% |
12.98% |
5.88% |
4.72% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$33 |
$48 |
$2,123 |
$1,846 |
$1,345 |
Average
net assets (000) |
$37 |
$1,373 |
$2,453 |
$1,435 |
$1,036 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.51% |
0.50% |
0.49% |
0.49% |
Expenses
before waivers and/or expense reimbursement |
10.74% |
1.28% |
1.37% |
3.26% |
3.89% |
Net
investment income (loss) |
4.07% |
4.96% |
1.58% |
1.90% |
2.13% |
Portfolio
turnover rate(d) |
25% |
62% |
45% |
65% |
38% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.47 |
0.19 |
0.22 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.46) |
(1.03) |
1.24 |
0.40 |
0.25 |
Total
from investment operations |
(0.04) |
(0.56) |
1.43 |
0.62 |
0.49 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.44) |
(0.73) |
(0.17) |
(0.25) |
(0.28) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.69) |
(0.93) |
(0.23) |
(0.42) |
(0.35) |
Net
asset value, end of Year |
$9.92 |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
Total
Return(b): |
(0.03)% |
(5.03)% |
13.24% |
5.95% |
4.87% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$169 |
$160 |
$1,623 |
$1,645 |
$1,597 |
Average
net assets (000) |
$157 |
$196 |
$1,634 |
$1,557 |
$1,377 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.36% |
0.35% |
0.34% |
0.34% |
Expenses
before waivers and/or expense reimbursement |
2.62% |
2.49% |
1.36% |
3.02% |
3.50% |
Net
investment income (loss) |
4.26% |
4.19% |
1.70% |
2.09% |
2.31% |
Portfolio
turnover rate(d) |
25% |
62% |
45% |
65% |
38% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.52 |
0.21 |
0.15 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.46) |
(1.07) |
1.23 |
0.49 |
0.25 |
Total
from investment operations |
(0.03) |
(0.55) |
1.44 |
0.64 |
0.50 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.45) |
(0.74) |
(0.18) |
(0.27) |
(0.29) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.70) |
(0.94) |
(0.24) |
(0.44) |
(0.36) |
Net
asset value, end of Year |
$9.92 |
$10.65 |
$12.14 |
$10.94 |
$10.74 |
Total
Return(b): |
0.07% |
(4.94)% |
13.34% |
5.98% |
5.06% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$26 |
$26 |
$28 |
$24 |
$12 |
Average
net assets (000) |
$25 |
$27 |
$26 |
$18 |
$14 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.26% |
0.25% |
0.25% |
0.24% |
Expenses
before waivers and/or expense reimbursement |
12.18% |
14.28% |
26.37% |
76.14% |
84.52% |
Net
investment income (loss) |
4.38% |
4.59% |
1.83% |
1.44% |
2.36% |
Portfolio
turnover rate(d) |
25% |
62% |
45% |
65% |
38% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.64 |
$12.14 |
$10.94 |
$10.74 |
$10.60 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.44 |
0.53 |
0.22 |
0.02 |
0.29 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.45) |
(1.08) |
1.24 |
0.63 |
0.22 |
Total
from investment operations |
(0.01) |
(0.55) |
1.46 |
0.65 |
0.51 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.46) |
(0.75) |
(0.20) |
(0.28) |
(0.30) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.71) |
(0.95) |
(0.26) |
(0.45) |
(0.37) |
Net
asset value, end of Year |
$9.92 |
$10.64 |
$12.14 |
$10.94 |
$10.74 |
Total
Return(b): |
0.27% |
(4.93)% |
13.46% |
6.18% |
5.09% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$933 |
$931 |
$965 |
$914 |
$65 |
Average
net assets (000) |
$899 |
$944 |
$909 |
$534 |
$51 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.16% |
0.15% |
0.15% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
1.18% |
1.05% |
1.47% |
4.36% |
24.81% |
Net
investment income (loss) |
4.48% |
4.67% |
1.94% |
0.15% |
2.75% |
Portfolio
turnover rate(d) |
25% |
62% |
45% |
65% |
38% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.66 |
$12.16 |
$10.96 |
$10.76 |
$10.61 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.46(b) |
0.55 |
0.24 |
0.21 |
0.29 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.45)(c) |
(1.08) |
1.23 |
0.46 |
0.25 |
Total
from investment operations |
0.01 |
(0.53) |
1.47 |
0.67 |
0.54 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.48) |
(0.77) |
(0.21) |
(0.30) |
(0.32) |
Distributions
from net realized gains |
(0.25) |
(0.20) |
(0.06) |
(0.17) |
(0.07) |
Total
dividends and distributions |
(0.73) |
(0.97) |
(0.27) |
(0.47) |
(0.39) |
Net
asset value, end of Year |
$9.94 |
$10.66 |
$12.16 |
$10.96 |
$10.76 |
Total
Return(d): |
0.43% |
(4.78)% |
13.59% |
6.36% |
5.33% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$21,305 |
$23,236 |
$24,185 |
$16,871 |
$6,939 |
Average
net assets (000) |
$21,430 |
$25,990 |
$22,559 |
$9,392 |
$6,203 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement(f) |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
0.01% |
(0.00)%(g) |
(0.00)%(g) |
(0.01)% |
Expenses
before waivers and/or expense reimbursement |
0.71% |
0.52% |
0.61% |
1.92% |
2.41% |
Net
investment income (loss) |
4.65% |
4.82% |
2.10% |
1.95% |
2.80% |
Portfolio
turnover rate(h) |
25% |
62% |
45% |
65% |
38% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(f) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(g) |
Amount
rounds to zero. |
(h) |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.80 |
$12.43 |
$11.08 |
$10.91 |
$10.86 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38(b) |
0.47 |
0.15 |
0.16 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.43)(c) |
(1.05) |
1.41 |
0.42 |
0.23 |
Total
from investment operations |
(0.05) |
(0.58) |
1.56 |
0.58 |
0.42 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.46) |
(0.67) |
(0.11) |
(0.22) |
(0.23) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.71) |
(1.05) |
(0.21) |
(0.41) |
(0.37) |
Net
asset value, end of Year |
$10.04 |
$10.80 |
$12.43 |
$11.08 |
$10.91 |
Total
Return(d): |
(0.06)% |
(5.31)% |
14.32% |
5.35% |
4.17% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$13 |
$14 |
$12 |
$11 |
Average
net assets (000) |
$13 |
$13 |
$13 |
$12 |
$11 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement |
0.77%(f) |
0.76% |
0.75% |
0.74% |
0.73% |
Expenses
before waivers and/or expense reimbursement |
25.08% |
28.64% |
52.16% |
114.82% |
106.63% |
Net
investment income (loss) |
3.83% |
4.05% |
1.29% |
1.53% |
1.83% |
Portfolio
turnover rate(g) |
23% |
43% |
58% |
75% |
30% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(f) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R2 Shares | |||||
|
Year
Ended July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.82 |
$12.46 |
$11.10 |
$10.92 |
$10.88 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.40(b) |
0.50 |
0.18 |
0.20 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.42)(c) |
(1.05) |
1.42 |
0.41 |
0.22 |
Total
from investment operations |
(0.02) |
(0.55) |
1.60 |
0.61 |
0.43 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.49) |
(0.71) |
(0.14) |
(0.24) |
(0.25) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.74) |
(1.09) |
(0.24) |
(0.43) |
(0.39) |
Net
asset value, end of Year |
$10.06 |
$10.82 |
$12.46 |
$11.10 |
$10.92 |
Total
Return(d): |
0.21% |
(5.05)% |
14.57% |
5.62% |
4.34% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$54 |
$51 |
$50 |
$42 |
$12 |
Average
net assets (000) |
$50 |
$51 |
$46 |
$37 |
$13 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement |
0.52%(f) |
0.51% |
0.50% |
0.49% |
0.48% |
Expenses
before waivers and/or expense reimbursement |
7.86% |
8.87% |
15.87% |
37.60% |
92.94% |
Net
investment income (loss) |
4.05% |
4.28% |
1.54% |
1.85% |
1.94% |
Portfolio
turnover rate(g) |
23% |
43% |
58% |
75% |
30% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(f) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R3 Shares | |||||
|
Year
Ended July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.83 |
$12.47 |
$11.11 |
$10.93 |
$10.89 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42(b) |
0.52 |
0.20 |
0.21 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.43)(c) |
(1.06) |
1.41 |
0.42 |
0.21 |
Total
from investment operations |
(0.01) |
(0.54) |
1.61 |
0.63 |
0.45 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.50) |
(0.72) |
(0.15) |
(0.26) |
(0.27) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.75) |
(1.10) |
(0.25) |
(0.45) |
(0.41) |
Net
asset value, end of Year |
$10.07 |
$10.83 |
$12.47 |
$11.11 |
$10.93 |
Total
Return(d): |
0.38% |
(4.91)% |
14.71% |
5.84% |
4.50% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$13 |
$14 |
$12 |
$12 |
Average
net assets (000) |
$13 |
$14 |
$13 |
$12 |
$11 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement |
0.37%(f) |
0.36% |
0.35% |
0.34% |
0.33% |
Expenses
before waivers and/or expense reimbursement |
24.13% |
27.69% |
50.95% |
113.01% |
105.36% |
Net
investment income (loss) |
4.22% |
4.45% |
1.69% |
1.93% |
2.23% |
Portfolio
turnover rate(g) |
23% |
43% |
58% |
75% |
30% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(f) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R4 Shares | |||||
|
Year
Ended July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.82 |
$12.46 |
$11.11 |
$10.93 |
$10.88 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.53 |
0.21 |
0.22 |
0.30 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.43) |
(1.05) |
1.41 |
0.42 |
0.17 |
Total
from investment operations |
-(b) |
(0.52) |
1.62 |
0.64 |
0.47 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.51) |
(0.74) |
(0.17) |
(0.27) |
(0.28) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.76) |
(1.12) |
(0.27) |
(0.46) |
(0.42) |
Net
asset value, end of Year |
$10.06 |
$10.82 |
$12.46 |
$11.11 |
$10.93 |
Total
Return(c): |
0.48% |
(4.90)% |
14.82% |
5.97% |
4.62% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$13 |
$14 |
$12 |
$12 |
Average
net assets (000) |
$13 |
$14 |
$13 |
$12 |
$44 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.27%(e) |
0.26% |
0.25% |
0.24% |
0.23% |
Expenses
before waivers and/or expense reimbursement |
23.90% |
27.47% |
50.67% |
112.64% |
28.32% |
Net
investment income (loss) |
4.32% |
4.55% |
1.79% |
2.03% |
2.82% |
Portfolio
turnover rate(f) |
23% |
43% |
58% |
75% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.44 |
0.51 |
0.22 |
0.01 |
0.26 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.44) |
(1.02) |
1.42 |
0.64 |
0.22 |
Total
from investment operations |
-(b) |
(0.51) |
1.64 |
0.65 |
0.48 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.52) |
(0.75) |
(0.18) |
(0.28) |
(0.29) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.77) |
(1.13) |
(0.28) |
(0.47) |
(0.43) |
Net
asset value, end of Year |
$10.08 |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
Total
Return(c): |
0.50% |
(4.70)% |
14.91% |
6.03% |
4.82% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$180 |
$175 |
$133 |
$256 |
$40 |
Average
net assets (000) |
$179 |
$166 |
$199 |
$142 |
$28 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.17%(e) |
0.16% |
0.15% |
0.14% |
0.13% |
Expenses
before waivers and/or expense reimbursement |
3.28% |
3.36% |
4.45% |
10.96% |
43.44% |
Net
investment income (loss) |
4.39% |
4.45% |
1.90% |
0.11% |
2.44% |
Portfolio
turnover rate(f) |
23% |
43% |
58% |
75% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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 July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
$10.90 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.46 |
0.56 |
0.24 |
0.24 |
0.28 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.44) |
(1.05) |
1.41 |
0.43 |
0.22 |
Total
from investment operations |
0.02 |
(0.49) |
1.65 |
0.67 |
0.50 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.54) |
(0.77) |
(0.19) |
(0.30) |
(0.31) |
Distributions
from net realized gains |
(0.25) |
(0.38) |
(0.10) |
(0.19) |
(0.14) |
Total
dividends and distributions |
(0.79) |
(1.15) |
(0.29) |
(0.49) |
(0.45) |
Net
asset value, end of Year |
$10.08 |
$10.85 |
$12.49 |
$11.13 |
$10.95 |
Total
Return(b): |
0.66% |
(4.57)% |
15.07% |
6.19% |
4.89% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$9,531 |
$11,577 |
$14,970 |
$12,049 |
$11,081 |
Average
net assets (000) |
$10,443 |
$13,808 |
$15,418 |
$12,078 |
$9,955 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.02%(e) |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.02%(e) |
0.01% |
(0.00)%(f) |
(0.01)% |
(0.02)% |
Expenses
before waivers and/or expense reimbursement |
1.47% |
1.02% |
1.00% |
1.72% |
2.04% |
Net
investment income (loss) |
4.64% |
4.80% |
2.05% |
2.23% |
2.58% |
Portfolio
turnover rate(g) |
23% |
43% |
58% |
75% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(f) |
Amount
rounds to zero. |
(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. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.12 |
$12.82 |
$11.27 |
$11.09 |
$10.98 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.37 |
0.47 |
0.15 |
0.16 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.35) |
(1.08) |
1.63 |
0.44 |
0.23 |
Total
from investment operations |
0.02 |
(0.61) |
1.78 |
0.60 |
0.42 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.41) |
(0.72) |
(0.12) |
(0.21) |
(0.21) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.81) |
(1.09) |
(0.23) |
(0.42) |
(0.31) |
Net
asset value, end of Year |
$10.33 |
$11.12 |
$12.82 |
$11.27 |
$11.09 |
Total
Return(b): |
0.72% |
(5.37)% |
15.93% |
5.35% |
4.19% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$13 |
$13 |
$14 |
$12 |
$12 |
Average
net assets (000) |
$13 |
$14 |
$13 |
$12 |
$11 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.76% |
0.75% |
0.74% |
0.74% |
Expenses
before waivers and/or expense reimbursement |
23.81% |
27.64% |
51.00% |
113.14% |
105.39% |
Net
investment income (loss) |
3.64% |
3.94% |
1.23% |
1.46% |
1.74% |
Portfolio
turnover rate(d) |
24% |
45% |
49% |
61% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.14 |
$12.83 |
$11.28 |
$11.11 |
$10.99 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.57 |
0.18 |
0.18 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.37) |
(1.14) |
1.62 |
0.44 |
0.23 |
Total
from investment operations |
0.05 |
(0.57) |
1.80 |
0.62 |
0.45 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.44) |
(0.75) |
(0.14) |
(0.24) |
(0.23) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.84) |
(1.12) |
(0.25) |
(0.45) |
(0.33) |
Net
asset value, end of Year |
$10.35 |
$11.14 |
$12.83 |
$11.28 |
$11.11 |
Total
Return(b): |
0.94% |
(5.05)% |
16.19% |
5.59% |
4.47% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$58 |
$55 |
$5,742 |
$4,355 |
$3,446 |
Average
net assets (000) |
$70 |
$3,140 |
$4,596 |
$3,904 |
$2,456 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.51% |
0.50% |
0.49% |
0.49% |
Expenses
before waivers and/or expense reimbursement |
6.89% |
0.83% |
0.88% |
1.27% |
1.51% |
Net
investment income (loss) |
4.07% |
4.69% |
1.49% |
1.61% |
2.02% |
Portfolio
turnover rate(d) |
24% |
45% |
49% |
61% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.17 |
$12.86 |
$11.30 |
$11.13 |
$11.01 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.52 |
0.20 |
0.21 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.37) |
(1.07) |
1.63 |
0.42 |
0.22 |
Total
from investment operations |
0.06 |
(0.55) |
1.83 |
0.63 |
0.47 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.46) |
(0.77) |
(0.16) |
(0.25) |
(0.25) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.86) |
(1.14) |
(0.27) |
(0.46) |
(0.35) |
Net
asset value, end of Year |
$10.37 |
$11.17 |
$12.86 |
$11.30 |
$11.13 |
Total
Return(b): |
1.07% |
(4.89)% |
16.41% |
5.73% |
4.63% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$999 |
$1,099 |
$1,844 |
$1,541 |
$1,072 |
Average
net assets (000) |
$1,002 |
$1,228 |
$1,655 |
$1,294 |
$1,066 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.36% |
0.35% |
0.34% |
0.34% |
Expenses
before waivers and/or expense reimbursement |
0.75% |
0.65% |
0.97% |
1.80% |
1.99% |
Net
investment income (loss) |
4.15% |
4.37% |
1.63% |
1.87% |
2.28% |
Portfolio
turnover rate(d) |
24% |
45% |
49% |
61% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.18 |
$12.87 |
$11.31 |
$11.13 |
$11.03 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.53 |
0.21 |
0.21 |
0.28 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.35) |
(1.06) |
1.63 |
0.44 |
0.18 |
Total
from investment operations |
0.07 |
(0.53) |
1.84 |
0.65 |
0.46 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.47) |
(0.79) |
(0.17) |
(0.26) |
(0.26) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.87) |
(1.16) |
(0.28) |
(0.47) |
(0.36) |
Net
asset value, end of Year |
$10.38 |
$11.18 |
$12.87 |
$11.31 |
$11.13 |
Total
Return(b): |
1.17% |
(4.79)% |
16.50% |
5.82% |
4.64% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$14 |
$14 |
$14 |
$12 |
$12 |
Average
net assets (000) |
$13 |
$14 |
$13 |
$12 |
$37 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.26% |
0.25% |
0.24% |
0.24% |
Expenses
before waivers and/or expense reimbursement |
22.64% |
26.44% |
49.43% |
110.87% |
31.79% |
Net
investment income (loss) |
4.13% |
4.44% |
1.73% |
1.95% |
2.61% |
Portfolio
turnover rate(d) |
24% |
45% |
49% |
61% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.18 |
$12.88 |
$11.32 |
$11.14 |
$11.03 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.44 |
0.55 |
0.22 |
0.24 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.36) |
(1.08) |
1.63 |
0.42 |
0.23 |
Total
from investment operations |
0.08 |
(0.53) |
1.85 |
0.66 |
0.48 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.48) |
(0.80) |
(0.18) |
(0.27) |
(0.27) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.88) |
(1.17) |
(0.29) |
(0.48) |
(0.37) |
Net
asset value, end of Year |
$10.38 |
$11.18 |
$12.88 |
$11.32 |
$11.14 |
Total
Return(b): |
1.28% |
(4.77)% |
16.60% |
6.03% |
4.75% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$2,923 |
$2,967 |
$3,585 |
$3,624 |
$3,962 |
Average
net assets (000) |
$2,874 |
$3,448 |
$3,427 |
$3,783 |
$3,807 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.16% |
0.15% |
0.14% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
0.62% |
0.50% |
0.58% |
0.92% |
0.99% |
Net
investment income (loss) |
4.24% |
4.58% |
1.81% |
2.22% |
2.34% |
Portfolio
turnover rate(d) |
24% |
45% |
49% |
61% |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.15 |
$12.84 |
$11.28 |
$11.11 |
$11.00 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.45 |
0.56 |
0.24 |
0.23 |
0.27 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.35) |
(1.06) |
1.63 |
0.44 |
0.23 |
Total
from investment operations |
0.10 |
(0.50) |
1.87 |
0.67 |
0.50 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.50) |
(0.82) |
(0.20) |
(0.29) |
(0.29) |
Distributions
from net realized gains |
(0.40) |
(0.37) |
(0.11) |
(0.21) |
(0.10) |
Total
dividends and distributions |
(0.90) |
(1.19) |
(0.31) |
(0.50) |
(0.39) |
Net
asset value, end of Year |
$10.35 |
$11.15 |
$12.84 |
$11.28 |
$11.11 |
Total
Return(b): |
1.46% |
(4.56)% |
16.82% |
6.10% |
4.93% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$37,314 |
$46,728 |
$58,602 |
$49,000 |
$35,018 |
Average
net assets (000) |
$40,751 |
$54,565 |
$59,237 |
$39,274 |
$30,081 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
0.01% |
(0.00)%(e) |
(0.01)% |
(0.01)% |
Expenses
before waivers and/or expense reimbursement |
0.37% |
0.25% |
0.25% |
0.46% |
0.58% |
Net
investment income (loss) |
4.43% |
4.71% |
1.98% |
2.11% |
2.54% |
Portfolio
turnover rate(f) |
24% |
45% |
49% |
61% |
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) |
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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.19 |
$13.01 |
$11.24 |
$11.14 |
$11.15 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.37 |
0.47 |
0.14 |
0.05 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.25) |
(1.07) |
1.84 |
0.53 |
0.18 |
Total
from investment operations |
0.12 |
(0.60) |
1.98 |
0.58 |
0.37 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.38) |
(0.75) |
(0.11) |
(0.21) |
(0.20) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.69) |
(1.22) |
(0.21) |
(0.48) |
(0.38) |
Net
asset value, end of Year |
$10.62 |
$11.19 |
$13.01 |
$11.24 |
$11.14 |
Total
Return(b): |
1.56% |
(5.37)% |
17.76% |
5.25% |
3.73% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$14 |
$14 |
$14 |
$12 |
$671 |
Average
net assets (000) |
$13 |
$14 |
$13 |
$122 |
$625 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.76% |
0.76% |
0.75% |
0.75% |
0.74% |
Expenses
before waivers and/or expense reimbursement |
23.35% |
27.65% |
50.15% |
11.62% |
3.01% |
Net
investment income (loss) |
3.51% |
3.86% |
1.18% |
0.49% |
1.72% |
Portfolio
turnover rate(d) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.22 |
$13.04 |
$11.26 |
$11.15 |
$11.16 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38 |
0.48 |
0.15 |
(0.01) |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.24) |
(1.05) |
1.86 |
0.63 |
0.22 |
Total
from investment operations |
0.14 |
(0.57) |
2.01 |
0.62 |
0.40 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.41) |
(0.78) |
(0.13) |
(0.24) |
(0.23) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.72) |
(1.25) |
(0.23) |
(0.51) |
(0.41) |
Net
asset value, end of Year |
$10.64 |
$11.22 |
$13.04 |
$11.26 |
$11.15 |
Total
Return(b): |
1.74% |
(5.12)% |
18.09% |
5.45% |
4.09% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$148 |
$106 |
$82 |
$90 |
$117 |
Average
net assets (000) |
$120 |
$92 |
$71 |
$136 |
$39 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.51% |
0.51% |
0.50% |
0.50% |
0.49% |
Expenses
before waivers and/or expense reimbursement |
3.42% |
6.27% |
10.60% |
10.64% |
31.08% |
Net
investment income (loss) |
3.65% |
3.99% |
1.29% |
(0.13)% |
1.60% |
Portfolio
turnover rate(d) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.23 |
$13.06 |
$11.27 |
$11.17 |
$11.18 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.41 |
0.43 |
0.19 |
0.21 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.25) |
(0.99) |
1.85 |
0.41 |
0.19 |
Total
from investment operations |
0.16 |
(0.56) |
2.04 |
0.62 |
0.42 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.43) |
(0.80) |
(0.15) |
(0.25) |
(0.25) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.74) |
(1.27) |
(0.25) |
(0.52) |
(0.43) |
Net
asset value, end of Year |
$10.65 |
$11.23 |
$13.06 |
$11.27 |
$11.17 |
Total
Return(b): |
1.91% |
(5.04)% |
18.32% |
5.62% |
4.17% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$465 |
$449 |
$9,911 |
$8,064 |
$7,737 |
Average
net assets (000) |
$435 |
$663 |
$8,876 |
$7,803 |
$6,760 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.36% |
0.36% |
0.35% |
0.35% |
0.34% |
Expenses
before waivers and/or expense reimbursement |
1.03% |
1.02% |
0.61% |
0.90% |
1.00% |
Net
investment income (loss) |
3.93% |
3.60% |
1.59% |
1.89% |
2.14% |
Portfolio
turnover rate(d) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.24 |
$13.06 |
$11.28 |
$11.17 |
$11.18 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.47 |
0.51 |
0.20 |
0.22 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.30) |
(1.05) |
1.84 |
0.43 |
0.21 |
Total
from investment operations |
0.17 |
(0.54) |
2.04 |
0.65 |
0.43 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.44) |
(0.81) |
(0.16) |
(0.27) |
(0.26) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.75) |
(1.28) |
(0.26) |
(0.54) |
(0.44) |
Net
asset value, end of Year |
$10.66 |
$11.24 |
$13.06 |
$11.28 |
$11.17 |
Total
Return(b): |
2.02% |
(4.87)% |
18.43% |
5.73% |
4.27% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$14 |
$22 |
$15 |
$13 |
$12 |
Average
net assets (000) |
$21 |
$18 |
$14 |
$12 |
$45 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.26% |
0.26% |
0.25% |
0.25% |
0.25% |
Expenses
before waivers and/or expense reimbursement |
14.42% |
21.59% |
48.41% |
109.74% |
26.16% |
Net
investment income (loss) |
4.49% |
4.24% |
1.68% |
1.99% |
2.04% |
Portfolio
turnover rate(d) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.25 |
$13.07 |
$11.28 |
$11.17 |
$11.19 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.49 |
0.22 |
0.24 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.26) |
(1.02) |
1.84 |
0.41 |
0.19 |
Total
from investment operations |
0.17 |
(0.53) |
2.06 |
0.65 |
0.43 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.45) |
(0.82) |
(0.17) |
(0.27) |
(0.27) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.76) |
(1.29) |
(0.27) |
(0.54) |
(0.45) |
Net
asset value, end of Year |
$10.66 |
$11.25 |
$13.07 |
$11.28 |
$11.17 |
Total
Return(b): |
2.04% |
(4.77)% |
18.53% |
5.90% |
4.29% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$727 |
$606 |
$266 |
$160 |
$295 |
Average
net assets (000) |
$647 |
$425 |
$197 |
$238 |
$71 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.16% |
0.16% |
0.15% |
0.16% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
0.89% |
1.24% |
3.68% |
6.04% |
16.90% |
Net
investment income (loss) |
4.15% |
4.12% |
1.85% |
2.12% |
2.21% |
Portfolio
turnover rate(d) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.27 |
$13.10 |
$11.30 |
$11.19 |
$11.21 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.45 |
0.56 |
0.24 |
0.23 |
0.27 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.26) |
(1.08) |
1.85 |
0.44 |
0.17 |
Total
from investment operations |
0.19 |
(0.52) |
2.09 |
0.67 |
0.44 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.46) |
(0.84) |
(0.19) |
(0.29) |
(0.28) |
Distributions
from net realized gains |
(0.31) |
(0.47) |
(0.10) |
(0.27) |
(0.18) |
Total
dividends and distributions |
(0.77) |
(1.31) |
(0.29) |
(0.56) |
(0.46) |
Net
asset value, end of Year |
$10.69 |
$11.27 |
$13.10 |
$11.30 |
$11.19 |
Total
Return(b): |
2.29% |
(4.70)% |
18.75% |
5.96% |
4.55% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$62,674 |
$71,290 |
$80,212 |
$62,135 |
$40,932 |
Average
net assets (000) |
$64,956 |
$82,904 |
$79,030 |
$47,867 |
$35,028 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
0.01% |
0.01% |
0.00%(e) |
(0.00)%(e) |
(0.01)% |
Expenses
before waivers and/or expense reimbursement |
0.26% |
0.19% |
0.20% |
0.40% |
0.51% |
Net
investment income (loss) |
4.31% |
4.62% |
1.94% |
2.09% |
2.52% |
Portfolio
turnover rate(f) |
26% |
58% |
44% |
57% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.92 |
$13.72 |
$11.48 |
$11.45 |
$11.53 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.35 |
0.43 |
0.13 |
0.17 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.09) |
(1.15) |
2.32 |
0.41 |
0.13 |
Total
from investment operations |
0.26 |
(0.72) |
2.45 |
0.58 |
0.31 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.40) |
(0.79) |
(0.11) |
(0.20) |
(0.22) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.89) |
(1.08) |
(0.21) |
(0.55) |
(0.39) |
Net
asset value, end of Year |
$11.29 |
$11.92 |
$13.72 |
$11.48 |
$11.45 |
Total
Return(b): |
2.88% |
(5.94)% |
21.50% |
5.04% |
3.18% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$69 |
$59 |
$55 |
$38 |
$33 |
Average
net assets (000) |
$62 |
$58 |
$48 |
$36 |
$30 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.75% |
0.75% |
0.74% |
0.74% |
0.74% |
Expenses
before waivers and/or expense reimbursement |
5.88% |
7.42% |
14.75% |
37.24% |
40.10% |
Net
investment income (loss) |
3.17% |
3.37% |
1.05% |
1.54% |
1.62% |
Portfolio
turnover rate(d) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.95 |
$13.74 |
$11.50 |
$11.47 |
$11.55 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.38 |
0.58 |
0.16 |
0.16 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.09) |
(1.26) |
2.31 |
0.45 |
0.13 |
Total
from investment operations |
0.29 |
(0.68) |
2.47 |
0.61 |
0.34 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.43) |
(0.82) |
(0.13) |
(0.23) |
(0.25) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.92) |
(1.11) |
(0.23) |
(0.58) |
(0.42) |
Net
asset value, end of Year |
$11.32 |
$11.95 |
$13.74 |
$11.50 |
$11.47 |
Total
Return(b): |
3.11% |
(5.69)% |
21.83% |
5.29% |
3.46% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$318 |
$299 |
$7,308 |
$4,896 |
$3,404 |
Average
net assets (000) |
$299 |
$5,088 |
$6,013 |
$4,148 |
$3,149 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.50% |
0.49% |
0.49% |
0.49% |
0.49% |
Expenses
before waivers and/or expense reimbursement |
1.89% |
0.76% |
0.84% |
1.25% |
1.40% |
Net
investment income (loss) |
3.44% |
4.39% |
1.29% |
1.42% |
1.87% |
Portfolio
turnover rate(d) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.95 |
$13.75 |
$11.50 |
$11.47 |
$11.55 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.40 |
0.47 |
0.18 |
0.19 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.09) |
(1.13) |
2.32 |
0.44 |
0.15 |
Total
from investment operations |
0.31 |
(0.66) |
2.50 |
0.63 |
0.36 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.45) |
(0.85) |
(0.15) |
(0.25) |
(0.27) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.94) |
(1.14) |
(0.25) |
(0.60) |
(0.44) |
Net
asset value, end of Year |
$11.32 |
$11.95 |
$13.75 |
$11.50 |
$11.47 |
Total
Return(b): |
3.32% |
(5.55)% |
22.00% |
5.44% |
3.63% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,563 |
$1,341 |
$3,414 |
$2,416 |
$1,349 |
Average
net assets (000) |
$1,376 |
$1,397 |
$2,857 |
$1,832 |
$1,018 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.32% |
0.35% |
0.34% |
0.34% |
0.34% |
Expenses
before waivers and/or expense reimbursement |
0.57% |
0.57% |
0.78% |
1.50% |
2.03% |
Net
investment income (loss) |
3.58% |
3.71% |
1.45% |
1.67% |
1.93% |
Portfolio
turnover rate(d) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.94 |
$13.74 |
$11.49 |
$11.46 |
$11.56 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.43 |
0.48 |
0.19 |
0.23 |
0.29 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.11) |
(1.13) |
2.32 |
0.41 |
0.06 |
Total
from investment operations |
0.32 |
(0.65) |
2.51 |
0.64 |
0.35 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.46) |
(0.86) |
(0.16) |
(0.26) |
(0.28) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.95) |
(1.15) |
(0.26) |
(0.61) |
(0.45) |
Net
asset value, end of Year |
$11.31 |
$11.94 |
$13.74 |
$11.49 |
$11.46 |
Total
Return(b): |
3.44% |
(5.47)% |
22.12% |
5.58% |
3.56% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$37 |
$31 |
$22 |
$14 |
$12 |
Average
net assets (000) |
$32 |
$26 |
$18 |
$12 |
$483 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.25% |
0.25% |
0.24% |
0.24% |
0.25% |
Expenses
before waivers and/or expense reimbursement |
9.71% |
14.46% |
37.53% |
106.51% |
3.30% |
Net
investment income (loss) |
3.92% |
3.79% |
1.54% |
2.01% |
2.58% |
Portfolio
turnover rate(d) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.97 |
$13.77 |
$11.52 |
$11.48 |
$11.57 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.42 |
0.51 |
0.21 |
0.25 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.09) |
(1.15) |
2.31 |
0.41 |
0.12 |
Total
from investment operations |
0.33 |
(0.64) |
2.52 |
0.66 |
0.37 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.47) |
(0.87) |
(0.17) |
(0.27) |
(0.29) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.96) |
(1.16) |
(0.27) |
(0.62) |
(0.46) |
Net
asset value, end of Year |
$11.34 |
$11.97 |
$13.77 |
$11.52 |
$11.48 |
Total
Return(b): |
3.55% |
(5.36)% |
22.18% |
5.73% |
3.76% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$4,312 |
$3,921 |
$3,877 |
$3,222 |
$3,012 |
Average
net assets (000) |
$3,932 |
$3,888 |
$3,548 |
$3,087 |
$2,785 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.15% |
0.15% |
0.14% |
0.14% |
0.14% |
Expenses
before waivers and/or expense reimbursement |
0.50% |
0.44% |
0.55% |
1.00% |
1.10% |
Net
investment income (loss) |
3.75% |
3.94% |
1.66% |
2.19% |
2.21% |
Portfolio
turnover rate(d) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.00 |
$13.80 |
$11.54 |
$11.50 |
$11.59 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.44 |
0.53 |
0.23 |
0.24 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
(0.10) |
(1.15) |
2.32 |
0.44 |
0.14 |
Total
from investment operations |
0.34 |
(0.62) |
2.55 |
0.68 |
0.39 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.49) |
(0.89) |
(0.19) |
(0.29) |
(0.31) |
Distributions
from net realized gains |
(0.49) |
(0.29) |
(0.10) |
(0.35) |
(0.17) |
Total
dividends and distributions |
(0.98) |
(1.18) |
(0.29) |
(0.64) |
(0.48) |
Net
asset value, end of Year |
$11.36 |
$12.00 |
$13.80 |
$11.54 |
$11.50 |
Total
Return(b): |
3.63% |
(5.20)% |
22.40% |
5.87% |
3.93% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$59,285 |
$65,639 |
$71,254 |
$51,305 |
$36,517 |
Average
net assets (000) |
$60,037 |
$73,198 |
$68,119 |
$40,094 |
$29,867 |
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 |
0.00%(e) |
(0.00)%(e) |
(0.01)% |
(0.01)% |
(0.01)% |
Expenses
before waivers and/or expense reimbursement |
0.26% |
0.20% |
0.22% |
0.46% |
0.57% |
Net
investment income (loss) |
3.98% |
4.14% |
1.79% |
2.13% |
2.25% |
Portfolio
turnover rate(f) |
29% |
56% |
46% |
55% |
36% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.73 |
$14.14 |
$11.47 |
$11.42 |
$11.68 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.30 |
0.39 |
0.12 |
0.16 |
0.12 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.17 |
(1.17) |
2.76 |
0.41 |
0.11 |
Total
from investment operations |
0.47 |
(0.78) |
2.88 |
0.57 |
0.23 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.29) |
(0.86) |
(0.11) |
(0.18) |
(0.23) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.77) |
(1.63) |
(0.21) |
(0.52) |
(0.49) |
Net
asset value, end of Year |
$11.43 |
$11.73 |
$14.14 |
$11.47 |
$11.42 |
Total
Return(b): |
4.69% |
(6.67)% |
25.33% |
4.94% |
2.55% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$34 |
$31 |
$32 |
$25 |
$24 |
Average
net assets (000) |
$31 |
$31 |
$29 |
$24 |
$17 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.73% |
0.73% |
0.73% |
0.72% |
0.72% |
Expenses
before waivers and/or expense reimbursement |
10.74% |
13.02% |
29.33% |
56.33% |
70.38% |
Net
investment income (loss) |
2.77% |
3.02% |
0.91% |
1.44% |
1.03% |
Portfolio
turnover rate(d) |
29% |
52% |
45% |
45% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.75 |
$14.15 |
$11.48 |
$11.43 |
$11.69 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.24(b) |
0.42 |
0.15 |
0.19 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.26(c) |
(1.16) |
2.76 |
0.41 |
0.07 |
Total
from investment operations |
0.50 |
(0.74) |
2.91 |
0.60 |
0.25 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.32) |
(0.89) |
(0.14) |
(0.21) |
(0.25) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.80) |
(1.66) |
(0.24) |
(0.55) |
(0.51) |
Net
asset value, end of Year |
$11.45 |
$11.75 |
$14.15 |
$11.48 |
$11.43 |
Total
Return(d): |
4.96% |
(6.36)% |
25.59% |
5.20% |
2.84% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$147 |
$546 |
$526 |
$324 |
$353 |
Average
net assets (000) |
$207 |
$535 |
$409 |
$359 |
$340 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement |
0.48% |
0.48% |
0.48% |
0.47% |
0.47% |
Expenses
before waivers and/or expense reimbursement |
2.57% |
1.80% |
2.54% |
4.84% |
4.85% |
Net
investment income (loss) |
2.14% |
3.25% |
1.13% |
1.66% |
1.60% |
Portfolio
turnover rate(f) |
29% |
52% |
45% |
45% |
35% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.77 |
$14.18 |
$11.50 |
$11.45 |
$11.71 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.34 |
0.30 |
0.17 |
0.20 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.17 |
(1.03) |
2.76 |
0.42 |
0.07 |
Total
from investment operations |
0.51 |
(0.73) |
2.93 |
0.62 |
0.27 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.33) |
(0.91) |
(0.15) |
(0.23) |
(0.27) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.81) |
(1.68) |
(0.25) |
(0.57) |
(0.53) |
Net
asset value, end of Year |
$11.47 |
$11.77 |
$14.18 |
$11.50 |
$11.45 |
Total
Return(b): |
5.13% |
(6.29)% |
25.80% |
5.34% |
3.01% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$429 |
$303 |
$9,978 |
$7,298 |
$6,271 |
Average
net assets (000) |
$339 |
$463 |
$8,548 |
$6,663 |
$5,850 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.33% |
0.33% |
0.33% |
0.32% |
0.32% |
Expenses
before waivers and/or expense reimbursement |
1.31% |
1.36% |
0.70% |
1.11% |
1.31% |
Net
investment income (loss) |
3.10% |
2.36% |
1.30% |
1.82% |
1.83% |
Portfolio
turnover rate(d) |
29% |
52% |
45% |
45% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.79 |
$14.20 |
$11.51 |
$11.46 |
$11.72 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.36 |
0.46 |
0.18 |
0.22 |
0.31 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.17 |
(1.17) |
2.78 |
0.41 |
(0.03) |
Total
from investment operations |
0.53 |
(0.71) |
2.96 |
0.63 |
0.28 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.35) |
(0.93) |
(0.17) |
(0.24) |
(0.28) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.83) |
(1.70) |
(0.27) |
(0.58) |
(0.54) |
Net
asset value, end of Year |
$11.49 |
$11.79 |
$14.20 |
$11.51 |
$11.46 |
Total
Return(b): |
5.24% |
(6.17)% |
25.98% |
5.43% |
3.12% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$16 |
$15 |
$16 |
$13 |
$12 |
Average
net assets (000) |
$15 |
$16 |
$15 |
$12 |
$28 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.23% |
0.23% |
0.23% |
0.22% |
0.21% |
Expenses
before waivers and/or expense reimbursement |
19.92% |
23.52% |
44.91% |
106.41% |
41.69% |
Net
investment income (loss) |
3.28% |
3.53% |
1.41% |
1.94% |
2.78% |
Portfolio
turnover rate(d) |
29% |
52% |
45% |
45% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.79 |
$14.20 |
$11.51 |
$11.45 |
$11.72 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.35 |
0.43 |
0.19 |
0.20 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.18 |
(1.13) |
2.78 |
0.45 |
0.05 |
Total
from investment operations |
0.53 |
(0.70) |
2.97 |
0.65 |
0.29 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.36) |
(0.94) |
(0.18) |
(0.25) |
(0.30) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.84) |
(1.71) |
(0.28) |
(0.59) |
(0.56) |
Net
asset value, end of Year |
$11.48 |
$11.79 |
$14.20 |
$11.51 |
$11.45 |
Total
Return(b): |
5.26% |
(6.08)% |
26.09% |
5.62% |
3.15% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$866 |
$542 |
$314 |
$147 |
$95 |
Average
net assets (000) |
$658 |
$408 |
$219 |
$122 |
$69 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.13% |
0.13% |
0.13% |
0.12% |
0.12% |
Expenses
before waivers and/or expense reimbursement |
0.97% |
1.35% |
3.46% |
11.56% |
17.68% |
Net
investment income (loss) |
3.21% |
3.38% |
1.47% |
1.81% |
2.16% |
Portfolio
turnover rate(d) |
29% |
52% |
45% |
45% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.80 |
$14.21 |
$11.52 |
$11.46 |
$11.74 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.39 |
0.49 |
0.21 |
0.22 |
0.24 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.17 |
(1.17) |
2.77 |
0.45 |
0.05 |
Total
from investment operations |
0.56 |
(0.68) |
2.98 |
0.67 |
0.29 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.38) |
(0.96) |
(0.19) |
(0.27) |
(0.31) |
Distributions
from net realized gains |
(0.48) |
(0.77) |
(0.10) |
(0.34) |
(0.26) |
Total
dividends and distributions |
(0.86) |
(1.73) |
(0.29) |
(0.61) |
(0.57) |
Net
asset value, end of Year |
$11.50 |
$11.80 |
$14.21 |
$11.52 |
$11.46 |
Total
Return(b): |
5.52% |
(5.94)% |
26.25% |
5.77% |
3.23% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$50,643 |
$47,761 |
$53,243 |
$42,659 |
$24,312 |
Average
net assets (000) |
$46,943 |
$54,250 |
$52,063 |
$28,765 |
$20,031 |
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 |
(0.02)% |
(0.02)% |
(0.02)% |
(0.03)% |
(0.03)% |
Expenses
before waivers and/or expense reimbursement |
0.35% |
0.28% |
0.28% |
0.61% |
0.81% |
Net
investment income (loss) |
3.53% |
3.79% |
1.66% |
1.99% |
2.14% |
Portfolio
turnover rate(e) |
29% |
52% |
45% |
45% |
35% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.34 |
$14.54 |
$11.53 |
$11.61 |
$11.83 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.29 |
0.38 |
0.10 |
0.14 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.37 |
(1.26) |
3.11 |
0.33 |
0.05 |
Total
from investment operations |
0.66 |
(0.88) |
3.21 |
0.47 |
0.20 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.32) |
(0.91) |
(0.11) |
(0.18) |
(0.24) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(0.93) |
(1.32) |
(0.20) |
(0.55) |
(0.42) |
Net
asset value, end of Year |
$12.07 |
$12.34 |
$14.54 |
$11.53 |
$11.61 |
Total
Return(b): |
6.22% |
(7.02)% |
28.07% |
3.95% |
2.28% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$52 |
$39 |
$34 |
$22 |
$16 |
Average
net assets (000) |
$44 |
$37 |
$28 |
$18 |
$14 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.70% |
0.70% |
0.69% |
0.69% |
0.70% |
Expenses
before waivers and/or expense reimbursement |
7.99% |
11.02% |
24.36% |
73.98% |
83.37% |
Net
investment income (loss) |
2.49% |
2.81% |
0.78% |
1.29% |
1.31% |
Portfolio
turnover rate(d) |
31% |
54% |
41% |
44% |
26% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.36 |
$14.57 |
$11.55 |
$11.63 |
$11.84 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.31 |
0.59 |
0.14 |
0.18 |
0.17 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.38 |
(1.45) |
3.11 |
0.32 |
0.07 |
Total
from investment operations |
0.69 |
(0.86) |
3.25 |
0.50 |
0.24 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.34) |
(0.94) |
(0.14) |
(0.21) |
(0.27) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(0.95) |
(1.35) |
(0.23) |
(0.58) |
(0.45) |
Net
asset value, end of Year |
$12.10 |
$12.36 |
$14.57 |
$11.55 |
$11.63 |
Total
Return(b): |
6.52% |
(6.85)% |
28.40% |
4.18% |
2.65% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$238 |
$169 |
$5,733 |
$3,501 |
$2,424 |
Average
net assets (000) |
$192 |
$4,165 |
$4,508 |
$2,845 |
$1,689 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.45% |
0.45% |
0.44% |
0.44% |
0.45% |
Expenses
before waivers and/or expense reimbursement |
2.88% |
0.83% |
0.94% |
1.61% |
2.02% |
Net
investment income (loss) |
2.66% |
4.25% |
1.02% |
1.57% |
1.50% |
Portfolio
turnover rate(d) |
31% |
54% |
41% |
44% |
26% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.38 |
$14.59 |
$11.57 |
$11.64 |
$11.86 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.33 |
0.40 |
0.16 |
0.19 |
0.16 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.38 |
(1.23) |
3.11 |
0.34 |
0.09 |
Total
from investment operations |
0.71 |
(0.83) |
3.27 |
0.53 |
0.25 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.37) |
(0.97) |
(0.16) |
(0.23) |
(0.29) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(0.98) |
(1.38) |
(0.25) |
(0.60) |
(0.47) |
Net
asset value, end of Year |
$12.11 |
$12.38 |
$14.59 |
$11.57 |
$11.64 |
Total
Return(b): |
6.67% |
(6.69)% |
28.52% |
4.42% |
2.73% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$722 |
$627 |
$3,617 |
$2,187 |
$1,491 |
Average
net assets (000) |
$641 |
$662 |
$2,996 |
$1,720 |
$915 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.30% |
0.30% |
0.29% |
0.29% |
0.30% |
Expenses
before waivers and/or expense reimbursement |
0.92% |
0.95% |
0.85% |
1.76% |
2.43% |
Net
investment income (loss) |
2.90% |
3.00% |
1.23% |
1.69% |
1.42% |
Portfolio
turnover rate(d) |
31% |
54% |
41% |
44% |
26% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.40 |
$14.60 |
$11.58 |
$11.65 |
$11.87 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.36(b) |
0.42 |
0.17 |
0.21 |
0.25 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.36(c) |
(1.23) |
3.11 |
0.33 |
0.01 |
Total
from investment operations |
0.72 |
(0.81) |
3.28 |
0.54 |
0.26 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.38) |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(0.99) |
(1.39) |
(0.26) |
(0.61) |
(0.48) |
Net
asset value, end of Year |
$12.13 |
$12.40 |
$14.60 |
$11.58 |
$11.65 |
Total
Return(d): |
6.77% |
(6.53)% |
28.61% |
4.52% |
2.84% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$67 |
$50 |
$34 |
$17 |
$12 |
Average
net assets (000) |
$59 |
$42 |
$26 |
$13 |
$35 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement |
0.20% |
0.20% |
0.19% |
0.19% |
0.20% |
Expenses
before waivers and/or expense reimbursement |
5.64% |
9.44% |
26.10% |
98.42% |
33.44% |
Net
investment income (loss) |
3.08% |
3.13% |
1.25% |
1.84% |
2.14% |
Portfolio
turnover rate(f) |
31% |
54% |
41% |
44% |
26% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.41 |
$14.61 |
$11.58 |
$11.65 |
$11.88 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.36 |
0.47 |
0.18 |
0.24 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.37 |
(1.27) |
3.12 |
0.31 |
0.04 |
Total
from investment operations |
0.73 |
(0.80) |
3.30 |
0.55 |
0.26 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.39) |
(0.99) |
(0.18) |
(0.25) |
(0.31) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(1.00) |
(1.40) |
(0.27) |
(0.62) |
(0.49) |
Net
asset value, end of Year |
$12.14 |
$12.41 |
$14.61 |
$11.58 |
$11.65 |
Total
Return(b): |
6.89% |
(6.43)% |
28.81% |
4.61% |
2.87% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$7,404 |
$6,697 |
$7,393 |
$6,114 |
$6,056 |
Average
net assets (000) |
$6,691 |
$7,073 |
$6,748 |
$5,963 |
$5,822 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.10% |
0.10% |
0.09% |
0.09% |
0.10% |
Expenses
before waivers and/or expense reimbursement |
0.56% |
0.46% |
0.53% |
1.01% |
1.18% |
Net
investment income (loss) |
3.10% |
3.43% |
1.39% |
2.09% |
1.94% |
Portfolio
turnover rate(d) |
31% |
54% |
41% |
44% |
26% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.42 |
$14.63 |
$11.59 |
$11.66 |
$11.89 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.39(b) |
0.49 |
0.20 |
0.22 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.36(c) |
(1.27) |
3.13 |
0.35 |
0.05 |
Total
from investment operations |
0.75 |
(0.78) |
3.33 |
0.57 |
0.28 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.41) |
(1.02) |
(0.20) |
(0.27) |
(0.33) |
Distributions
from net realized gains |
(0.61) |
(0.41) |
(0.09) |
(0.37) |
(0.18) |
Total
dividends and distributions |
(1.02) |
(1.43) |
(0.29) |
(0.64) |
(0.51) |
Net
asset value, end of Year |
$12.15 |
$12.42 |
$14.63 |
$11.59 |
$11.66 |
Total
Return(d): |
7.06% |
(6.35)% |
29.05% |
4.67% |
3.13% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$37,993 |
$37,802 |
$43,332 |
$31,333 |
$17,752 |
Average
net assets (000) |
$36,923 |
$45,103 |
$41,893 |
$20,948 |
$15,067 |
Ratios
to average net assets(e): | |||||
Expenses
after waivers and/or expense reimbursement(f) |
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)% |
(0.05)% |
(0.06)% |
(0.06)% |
(0.05)% |
Expenses
before waivers and/or expense reimbursement |
0.38% |
0.27% |
0.30% |
0.70% |
0.91% |
Net
investment income (loss) |
3.33% |
3.58% |
1.54% |
1.96% |
2.01% |
Portfolio
turnover rate(g) |
31% |
54% |
41% |
44% |
26% |
(a) |
Calculated
based on average shares outstanding during the
year. |
(b) |
The
per share amount of net investment income (loss) does not directly
correlate to the amounts reported in the Statement of Operations due to
class specific expenses. |
(c) |
The
per share amount of realized and unrealized gain (loss) on investments
does not directly correlate to the amounts reported in the Statement of
Operations due to the timing
of
portfolio share transactions in relation to fluctuating market
values. |
(d) |
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. |
(e) |
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. |
(f) |
As a
result of reimbursing expenses, including underlying fund expenses, the
Manager may reimburse amounts in excess of the respective share classes'
operating expenses. |
(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. |
Class
R1 Shares | |||||
|
Year
Ended July 31, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.79 |
$14.56 |
$11.34 |
$11.47 |
$11.91 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.25 |
0.32 |
0.09 |
0.17 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.53 |
(1.25) |
3.32 |
0.27 |
(0.04) |
Total
from investment operations |
0.78 |
(0.93) |
3.41 |
0.44 |
0.10 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.17) |
(0.90) |
(0.11) |
(0.18) |
(0.24) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.73) |
(1.84) |
(0.19) |
(0.57) |
(0.54) |
Net
asset value, end of Year |
$11.84 |
$11.79 |
$14.56 |
$11.34 |
$11.47 |
Total
Return(b): |
7.45% |
(7.75)% |
30.36% |
3.66% |
1.78% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$16 |
$15 |
$19 |
$14 |
$13 |
Average
net assets (000) |
$15 |
$18 |
$17 |
$13 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.68% |
0.68% |
0.68% |
0.68% |
0.69% |
Expenses
before waivers and/or expense reimbursement |
20.73% |
21.60% |
40.37% |
98.28% |
96.93% |
Net
investment income (loss) |
2.23% |
2.44% |
0.69% |
1.54% |
1.26% |
Portfolio
turnover rate(d) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.81 |
$14.59 |
$11.36 |
$11.49 |
$11.94 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.26 |
0.33 |
0.11 |
0.03 |
0.09 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.55 |
(1.24) |
3.34 |
0.44 |
0.03 |
Total
from investment operations |
0.81 |
(0.91) |
3.45 |
0.47 |
0.12 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.20) |
(0.93) |
(0.14) |
(0.21) |
(0.27) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.76) |
(1.87) |
(0.22) |
(0.60) |
(0.57) |
Net
asset value, end of Year |
$11.86 |
$11.81 |
$14.59 |
$11.36 |
$11.49 |
Total
Return(b): |
7.73% |
(7.56)% |
30.67% |
3.92% |
1.99% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$374 |
$316 |
$341 |
$220 |
$98 |
Average
net assets (000) |
$326 |
$369 |
$235 |
$152 |
$58 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43% |
0.43% |
0.43% |
0.43% |
0.44% |
Expenses
before waivers and/or expense reimbursement |
2.22% |
2.07% |
3.78% |
10.18% |
21.72% |
Net
investment income (loss) |
2.37% |
2.53% |
0.83% |
0.24% |
0.78% |
Portfolio
turnover rate(d) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.82 |
$14.60 |
$11.37 |
$11.50 |
$11.94 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.34 |
0.07 |
0.14 |
0.21 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.49 |
(0.96) |
3.33 |
0.28 |
(0.03) |
Total
from investment operations |
0.83 |
(0.89) |
3.47 |
0.49 |
0.15 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.22) |
(0.95) |
(0.16) |
(0.23) |
(0.29) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.78) |
(1.89) |
(0.24) |
(0.62) |
(0.59) |
Net
asset value, end of Year |
$11.87 |
$11.82 |
$14.60 |
$11.37 |
$11.50 |
Total
Return(b): |
7.90% |
(7.43)% |
30.83% |
4.07% |
2.26% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$27 |
$36 |
$12,568 |
$8,750 |
$7,639 |
Average
net assets (000) |
$30 |
$301 |
$10,686 |
$7,880 |
$6,657 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.28% |
0.28% |
0.28% |
0.28% |
0.29% |
Expenses
before waivers and/or expense reimbursement |
10.50% |
2.13% |
0.81% |
1.51% |
1.80% |
Net
investment income (loss) |
3.08% |
0.58% |
1.07% |
1.90% |
1.58% |
Portfolio
turnover rate(d) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.83 |
$14.61 |
$11.37 |
$11.50 |
$11.95 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.27 |
0.38 |
0.16 |
0.22 |
0.23 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.56 |
(1.25) |
3.33 |
0.28 |
(0.08) |
Total
from investment operations |
0.83 |
(0.87) |
3.49 |
0.50 |
0.15 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.23) |
(0.97) |
(0.17) |
(0.24) |
(0.30) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.79) |
(1.91) |
(0.25) |
(0.63) |
(0.60) |
Net
asset value, end of Year |
$11.87 |
$11.83 |
$14.61 |
$11.37 |
$11.50 |
Total
Return(b): |
7.93% |
(7.31)% |
31.03% |
4.19% |
2.29% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$61 |
$46 |
$42 |
$32 |
$31 |
Average
net assets (000) |
$48 |
$42 |
$37 |
$30 |
$217 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18% |
0.18% |
0.18% |
0.18% |
0.20% |
Expenses
before waivers and/or expense reimbursement |
8.10% |
9.50% |
18.71% |
44.47% |
6.89% |
Net
investment income (loss) |
2.38% |
2.88% |
1.19% |
2.02% |
2.01% |
Portfolio
turnover rate(d) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.85 |
$14.63 |
$11.39 |
$11.51 |
$11.96 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.32 |
0.39 |
0.17 |
0.16 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.54 |
(1.25) |
3.33 |
0.36 |
(0.02) |
Total
from investment operations |
0.86 |
(0.86) |
3.50 |
0.52 |
0.16 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.25) |
(0.98) |
(0.18) |
(0.25) |
(0.31) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.81) |
(1.92) |
(0.26) |
(0.64) |
(0.61) |
Net
asset value, end of Year |
$11.90 |
$11.85 |
$14.63 |
$11.39 |
$11.51 |
Total
Return(b): |
8.13% |
(7.20)% |
31.10% |
4.34% |
2.41% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$970 |
$786 |
$650 |
$407 |
$174 |
Average
net assets (000) |
$812 |
$703 |
$525 |
$265 |
$101 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08% |
0.08% |
0.08% |
0.08% |
0.09% |
Expenses
before waivers and/or expense reimbursement |
1.06% |
1.11% |
1.84% |
6.12% |
12.95% |
Net
investment income (loss) |
2.83% |
2.96% |
1.27% |
1.48% |
1.62% |
Portfolio
turnover rate(d) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$11.87 |
$14.66 |
$11.41 |
$11.53 |
$11.99 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.34 |
0.42 |
0.18 |
0.21 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.53 |
(1.27) |
3.35 |
0.32 |
(0.05) |
Total
from investment operations |
0.87 |
(0.85) |
3.53 |
0.53 |
0.17 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.26) |
(1.00) |
(0.20) |
(0.26) |
(0.33) |
Distributions
from net realized gains |
(0.56) |
(0.94) |
(0.08) |
(0.39) |
(0.30) |
Total
dividends and distributions |
(0.82) |
(1.94) |
(0.28) |
(0.65) |
(0.63) |
Net
asset value, end of Year |
$11.92 |
$11.87 |
$14.66 |
$11.41 |
$11.53 |
Total
Return(b): |
8.28% |
(7.12)% |
31.31% |
4.49% |
2.50% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$32,334 |
$29,859 |
$32,739 |
$20,178 |
$9,601 |
Average
net assets (000) |
$29,647 |
$34,127 |
$28,077 |
$11,758 |
$8,229 |
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)% |
(0.07)% |
(0.06)% |
Expenses
before waivers and/or expense reimbursement |
0.53% |
0.42% |
0.42% |
1.11% |
1.43% |
Net
investment income (loss) |
3.02% |
3.17% |
1.40% |
1.89% |
1.99% |
Portfolio
turnover rate(e) |
29% |
50% |
38% |
47% |
31% |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.32 |
$14.87 |
$11.49 |
$11.59 |
$11.92 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.23 |
0.30 |
0.07 |
0.08 |
0.13 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.71 |
(1.36) |
3.51 |
0.31 |
(0.02) |
Total
from investment operations |
0.94 |
(1.06) |
3.58 |
0.39 |
0.11 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.15) |
(0.91) |
(0.12) |
(0.19) |
(0.25) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.88) |
(1.49) |
(0.20) |
(0.49) |
(0.44) |
Net
asset value, end of Year |
$12.38 |
$12.32 |
$14.87 |
$11.49 |
$11.59 |
Total
Return(b): |
8.56% |
(8.23)% |
31.41% |
3.24% |
1.61% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$59 |
$47 |
$44 |
$33 |
$166 |
Average
net assets (000) |
$50 |
$46 |
$37 |
$54 |
$145 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.68%(d) |
0.68% |
0.67% |
0.67% |
0.68% |
Expenses
before waivers and/or expense reimbursement |
7.54% |
9.34% |
18.74% |
26.33% |
11.03% |
Net
investment income (loss) |
1.98% |
2.18% |
0.55% |
0.69% |
1.11% |
Portfolio
turnover rate(e) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.36 |
$14.90 |
$11.51 |
$11.59 |
$11.93 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.25 |
0.50 |
0.11 |
0.17 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.71 |
(1.51) |
3.51 |
0.26 |
(0.03) |
Total
from investment operations |
0.96 |
(1.01) |
3.62 |
0.43 |
0.12 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.16) |
(0.95) |
(0.15) |
(0.21) |
(0.27) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.89) |
(1.53) |
(0.23) |
(0.51) |
(0.46) |
Net
asset value, end of Year |
$12.43 |
$12.36 |
$14.90 |
$11.51 |
$11.59 |
Total
Return(b): |
8.80% |
(7.92)% |
31.72% |
3.53% |
1.83% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$444 |
$337 |
$5,209 |
$3,110 |
$1,951 |
Average
net assets (000) |
$370 |
$3,647 |
$4,026 |
$2,447 |
$1,348 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43%(d) |
0.43% |
0.42% |
0.42% |
0.43% |
Expenses
before waivers and/or expense reimbursement |
2.81% |
1.15% |
1.28% |
2.57% |
3.75% |
Net
investment income (loss) |
2.15% |
3.51% |
0.81% |
1.53% |
1.33% |
Portfolio
turnover rate(e) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.38 |
$14.93 |
$11.53 |
$11.61 |
$11.95 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.28 |
0.06 |
0.13 |
0.16 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.70 |
(1.06) |
3.51 |
0.28 |
-(b) |
Total
from investment operations |
0.98 |
(1.00) |
3.64 |
0.44 |
0.14 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.19) |
(0.97) |
(0.16) |
(0.22) |
(0.29) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.92) |
(1.55) |
(0.24) |
(0.52) |
(0.48) |
Net
asset value, end of Year |
$12.44 |
$12.38 |
$14.93 |
$11.53 |
$11.61 |
Total
Return(c): |
8.99% |
(7.83)% |
31.93% |
3.65% |
2.01% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$19 |
$15 |
$4,071 |
$2,212 |
$1,074 |
Average
net assets (000) |
$16 |
$81 |
$3,123 |
$1,564 |
$655 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.28%(e) |
0.27% |
0.27% |
0.27% |
0.28% |
Expenses
before waivers and/or expense reimbursement |
19.74% |
5.80% |
1.15% |
2.70% |
4.43% |
Net
investment income (loss) |
2.37% |
0.52% |
0.97% |
1.45% |
1.22% |
Portfolio
turnover rate(f) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.36 |
$14.91 |
$11.51 |
$11.59 |
$11.95 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.28 |
0.13 |
0.15 |
0.22 |
1.53 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.72 |
(1.12) |
3.50 |
0.24 |
(1.40) |
Total
from investment operations |
1.00 |
(0.99) |
3.65 |
0.46 |
0.13 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.21) |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.94) |
(1.56) |
(0.25) |
(0.54) |
(0.49) |
Net
asset value, end of Year |
$12.42 |
$12.36 |
$14.91 |
$11.51 |
$11.59 |
Total
Return(b): |
9.12% |
(7.79)% |
32.10% |
3.81% |
1.95% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$100 |
$89 |
$17 |
$13 |
$12 |
Average
net assets (000) |
$95 |
$59 |
$15 |
$12 |
$68 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18%(d) |
0.18% |
0.17% |
0.17% |
0.19% |
Expenses
before waivers and/or expense reimbursement |
4.14% |
7.09% |
43.52% |
106.71% |
19.83% |
Net
investment income (loss) |
2.43% |
0.98% |
1.12% |
1.94% |
13.14% |
Portfolio
turnover rate(e) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.39 |
$14.94 |
$11.54 |
$11.62 |
$11.96 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.30 |
0.39 |
0.16 |
0.24 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.71 |
(1.36) |
3.51 |
0.23 |
(0.03) |
Total
from investment operations |
1.01 |
(0.97) |
3.67 |
0.47 |
0.17 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.22) |
(1.00) |
(0.19) |
(0.25) |
(0.32) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.95) |
(1.58) |
(0.27) |
(0.55) |
(0.51) |
Net
asset value, end of Year |
$12.45 |
$12.39 |
$14.94 |
$11.54 |
$11.62 |
Total
Return(b): |
9.22% |
(7.63)% |
32.13% |
3.90% |
2.24% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$1,446 |
$1,170 |
$1,149 |
$778 |
$732 |
Average
net assets (000) |
$1,226 |
$1,196 |
$950 |
$725 |
$608 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08%(d) |
0.08% |
0.07% |
0.07% |
0.08% |
Expenses
before waivers and/or expense reimbursement |
1.20% |
1.03% |
1.44% |
3.47% |
4.47% |
Net
investment income (loss) |
2.55% |
2.87% |
1.19% |
2.11% |
1.73% |
Portfolio
turnover rate(e) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.43 |
$14.98 |
$11.57 |
$11.64 |
$11.99 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.33 |
0.41 |
0.18 |
0.24 |
0.20 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.69 |
(1.36) |
3.52 |
0.26 |
(0.03) |
Total
from investment operations |
1.02 |
(0.95) |
3.70 |
0.50 |
0.17 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.24) |
(1.02) |
(0.21) |
(0.27) |
(0.33) |
Distributions
from net realized gains |
(0.73) |
(0.58) |
(0.08) |
(0.30) |
(0.19) |
Total
dividends and distributions |
(0.97) |
(1.60) |
(0.29) |
(0.57) |
(0.52) |
Net
asset value, end of Year |
$12.48 |
$12.43 |
$14.98 |
$11.57 |
$11.64 |
Total
Return(b): |
9.29% |
(7.47)% |
32.33% |
4.11% |
2.33% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$20,189 |
$18,346 |
$18,291 |
$13,037 |
$7,037 |
Average
net assets (000) |
$18,311 |
$20,531 |
$17,795 |
$8,309 |
$5,316 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00%(e) |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.07)%(e) |
(0.07)% |
(0.08)% |
(0.08)% |
(0.07)% |
Expenses
before waivers and/or expense reimbursement |
0.81% |
0.58% |
0.63% |
1.67% |
2.60% |
Net
investment income (loss) |
2.81% |
2.98% |
1.33% |
2.13% |
1.75% |
Portfolio
turnover rate(f) |
26% |
59% |
39% |
42% |
30% |
(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) |
Includes
certain non-recurring expenses of 0.01% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.28 |
$14.78 |
$11.33 |
$11.52 |
$12.10 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.19 |
0.26 |
0.08 |
0.18 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.68 |
(1.10) |
3.58 |
0.18 |
(0.15) |
Total
from investment operations |
0.87 |
(0.84) |
3.66 |
0.36 |
(0.01) |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(0.91) |
(0.11) |
(0.19) |
(0.24) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.66) |
(0.21) |
(0.55) |
(0.57) |
Net
asset value, end of Year |
$10.65 |
$10.28 |
$14.78 |
$11.33 |
$11.52 |
Total
Return(b): |
9.11% |
(8.47)% |
32.63% |
2.89% |
0.89% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$18 |
$17 |
$18 |
$14 |
$15 |
Average
net assets (000) |
$16 |
$18 |
$16 |
$14 |
$15 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.68%(d) |
0.67% |
0.66% |
0.65% |
0.66% |
Expenses
before waivers and/or expense reimbursement |
21.35% |
22.90% |
42.22% |
93.51% |
81.24% |
Net
investment income (loss) |
1.97% |
2.17% |
0.57% |
1.62% |
1.22% |
Portfolio
turnover rate(e) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.31 |
$14.82 |
$11.36 |
$11.54 |
$12.12 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.22 |
0.29 |
0.10 |
0.14 |
0.12 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.68 |
(1.11) |
3.60 |
0.25 |
(0.10) |
Total
from investment operations |
0.90 |
(0.82) |
3.70 |
0.39 |
0.02 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(0.94) |
(0.14) |
(0.21) |
(0.27) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.69) |
(0.24) |
(0.57) |
(0.60) |
Net
asset value, end of Year |
$10.71 |
$10.31 |
$14.82 |
$11.36 |
$11.54 |
Total
Return(b): |
9.38% |
(8.28)% |
32.93% |
3.19% |
1.19% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$253 |
$278 |
$305 |
$142 |
$63 |
Average
net assets (000) |
$229 |
$311 |
$188 |
$83 |
$43 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43%(d) |
0.42% |
0.41% |
0.40% |
0.41% |
Expenses
before waivers and/or expense reimbursement |
4.86% |
4.25% |
6.37% |
19.04% |
30.82% |
Net
investment income (loss) |
2.21% |
2.40% |
0.73% |
1.28% |
1.05% |
Portfolio
turnover rate(e) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.32 |
$14.82 |
$11.36 |
$11.55 |
$12.13 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.16 |
0.02 |
0.13 |
0.20 |
0.18 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.75 |
(0.80) |
3.59 |
0.20 |
(0.14) |
Total
from investment operations |
0.91 |
(0.78) |
3.72 |
0.40 |
0.04 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(0.97) |
(0.16) |
(0.23) |
(0.29) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.72) |
(0.26) |
(0.59) |
(0.62) |
Net
asset value, end of Year |
$10.73 |
$10.32 |
$14.82 |
$11.36 |
$11.55 |
Total
Return(b): |
9.47% |
(8.03)% |
33.09% |
3.26% |
1.37% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$43 |
$15 |
$7,549 |
$4,867 |
$3,699 |
Average
net assets (000) |
$22 |
$166 |
$6,237 |
$4,140 |
$3,177 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.29%(d) |
0.25% |
0.26% |
0.25% |
0.26% |
Expenses
before waivers and/or expense reimbursement |
15.85% |
3.82% |
1.52% |
2.92% |
3.70% |
Net
investment income (loss) |
1.61% |
0.15% |
0.95% |
1.83% |
1.59% |
Portfolio
turnover rate(e) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.33 |
$14.84 |
$11.37 |
$11.56 |
$12.14 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.25 |
0.31 |
0.14 |
0.22 |
0.26 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.67 |
(1.09) |
3.60 |
0.19 |
(0.21) |
Total
from investment operations |
0.92 |
(0.78) |
3.74 |
0.41 |
0.05 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(0.98) |
(0.17) |
(0.24) |
(0.30) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.73) |
(0.27) |
(0.60) |
(0.63) |
Net
asset value, end of Year |
$10.75 |
$10.33 |
$14.84 |
$11.37 |
$11.56 |
Total
Return(b): |
9.56% |
(8.01)% |
33.27% |
3.38% |
1.49% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$39 |
$20 |
$17 |
$13 |
$13 |
Average
net assets (000) |
$29 |
$18 |
$15 |
$12 |
$33 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18%(d) |
0.17% |
0.16% |
0.15% |
0.17% |
Expenses
before waivers and/or expense reimbursement |
12.52% |
22.13% |
43.43% |
106.71% |
37.86% |
Net
investment income (loss) |
2.48% |
2.54% |
1.07% |
2.02% |
2.20% |
Portfolio
turnover rate(e) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.35 |
$14.86 |
$11.38 |
$11.56 |
$12.15 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.24 |
0.34 |
0.15 |
0.24 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.69 |
(1.11) |
3.61 |
0.19 |
(0.09) |
Total
from investment operations |
0.93 |
(0.77) |
3.76 |
0.43 |
0.05 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(0.99) |
(0.18) |
(0.25) |
(0.31) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.74) |
(0.28) |
(0.61) |
(0.64) |
Net
asset value, end of Year |
$10.78 |
$10.35 |
$14.86 |
$11.38 |
$11.56 |
Total
Return(b): |
9.64% |
(7.88)% |
33.45% |
3.51% |
1.53% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$565 |
$367 |
$247 |
$136 |
$90 |
Average
net assets (000) |
$447 |
$317 |
$188 |
$111 |
$50 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08%(d) |
0.07% |
0.06% |
0.05% |
0.05% |
Expenses
before waivers and/or expense reimbursement |
2.95% |
2.87% |
4.74% |
14.21% |
26.07% |
Net
investment income (loss) |
2.45% |
2.79% |
1.12% |
2.15% |
1.20% |
Portfolio
turnover rate(e) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$10.34 |
$14.86 |
$11.38 |
$11.57 |
$12.16 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.28 |
0.37 |
0.17 |
0.22 |
0.21 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.68 |
(1.12) |
3.61 |
0.22 |
(0.14) |
Total
from investment operations |
0.96 |
(0.75) |
3.78 |
0.44 |
0.07 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.03) |
(1.02) |
(0.20) |
(0.27) |
(0.33) |
Distributions
from net realized gains |
(0.47) |
(2.75) |
(0.10) |
(0.36) |
(0.33) |
Total
dividends and distributions |
(0.50) |
(3.77) |
(0.30) |
(0.63) |
(0.66) |
Net
asset value, end of Year |
$10.80 |
$10.34 |
$14.86 |
$11.38 |
$11.57 |
Total
Return(b): |
9.95% |
(7.82)% |
33.63% |
3.60% |
1.72% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$8,151 |
$6,382 |
$7,681 |
$5,451 |
$3,635 |
Average
net assets (000) |
$6,741 |
$8,322 |
$7,616 |
$4,340 |
$3,169 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00%(e) |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.07)%(e) |
(0.08)% |
(0.09)% |
(0.10)% |
(0.09)% |
Expenses
before waivers and/or expense reimbursement |
2.12% |
1.57% |
1.16% |
2.57% |
3.36% |
Net
investment income (loss) |
2.76% |
3.01% |
1.27% |
2.01% |
1.87% |
Portfolio
turnover rate(f) |
29% |
60% |
37% |
45% |
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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.82 |
$15.17 |
$11.49 |
$11.62 |
$12.06 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.24 |
0.29 |
0.08 |
0.17 |
0.13 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.84 |
(1.46) |
3.74 |
0.16 |
(0.15) |
Total
from investment operations |
1.08 |
(1.17) |
3.82 |
0.33 |
(0.02) |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.19) |
(0.95) |
(0.08) |
(0.20) |
(0.25) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.88) |
(1.18) |
(0.14) |
(0.46) |
(0.42) |
Net
asset value, end of Year |
$13.02 |
$12.82 |
$15.17 |
$11.49 |
$11.62 |
Total
Return(b): |
9.38% |
(8.62)% |
33.45% |
2.70% |
0.57% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$22 |
$17 |
$17 |
$13 |
$12 |
Average
net assets (000) |
$19 |
$17 |
$15 |
$12 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.67%(d) |
0.66% |
0.65% |
0.65% |
0.66% |
Expenses
before waivers and/or expense reimbursement |
18.47% |
23.66% |
46.33% |
114.36% |
111.01% |
Net
investment income (loss) |
1.98% |
2.06% |
0.56% |
1.56% |
1.10% |
Portfolio
turnover rate(e) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.86 |
$15.21 |
$11.52 |
$11.63 |
$12.08 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.25 |
0.52 |
0.10 |
0.16 |
0.15 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.87 |
(1.66) |
3.76 |
0.21 |
(0.15) |
Total
from investment operations |
1.12 |
(1.14) |
3.86 |
0.37 |
-(b) |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.20) |
(0.98) |
(0.11) |
(0.22) |
(0.28) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.89) |
(1.21) |
(0.17) |
(0.48) |
(0.45) |
Net
asset value, end of Year |
$13.09 |
$12.86 |
$15.21 |
$11.52 |
$11.63 |
Total
Return(c): |
9.70% |
(8.37)% |
33.76% |
2.96% |
0.79% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$267 |
$199 |
$1,755 |
$889 |
$388 |
Average
net assets (000) |
$215 |
$1,330 |
$1,291 |
$587 |
$226 |
Ratios
to average net assets(d): | |||||
Expenses
after waivers and/or expense reimbursement |
0.43%(e) |
0.41% |
0.40% |
0.40% |
0.41% |
Expenses
before waivers and/or expense reimbursement |
4.78% |
2.45% |
3.46% |
9.69% |
18.79% |
Net
investment income (loss) |
2.07% |
3.57% |
0.74% |
1.47% |
1.31% |
Portfolio
turnover rate(f) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.89 |
$15.25 |
$11.55 |
$11.65 |
$12.09 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.28 |
0.16 |
0.12 |
0.17 |
0.14 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.86 |
(1.28) |
3.77 |
0.21 |
(0.11) |
Total
from investment operations |
1.14 |
(1.12) |
3.89 |
0.38 |
0.03 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.24) |
(1.01) |
(0.13) |
(0.22) |
(0.30) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.93) |
(1.24) |
(0.19) |
(0.48) |
(0.47) |
Net
asset value, end of Year |
$13.10 |
$12.89 |
$15.25 |
$11.55 |
$11.65 |
Total
Return(b): |
9.90% |
(8.28)% |
33.94% |
3.12% |
1.05% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$41 |
$31 |
$1,472 |
$685 |
$279 |
Average
net assets (000) |
$33 |
$55 |
$1,051 |
$450 |
$173 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.28%(d) |
0.25% |
0.25% |
0.25% |
0.26% |
Expenses
before waivers and/or expense reimbursement |
11.21% |
8.75% |
3.27% |
10.14% |
20.50% |
Net
investment income (loss) |
2.26% |
1.25% |
0.89% |
1.54% |
1.25% |
Portfolio
turnover rate(e) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.91 |
$15.26 |
$11.56 |
$11.65 |
$12.10 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.29 |
0.37 |
0.14 |
0.23 |
0.19 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.85 |
(1.47) |
3.76 |
0.17 |
(0.16) |
Total
from investment operations |
1.14 |
(1.10) |
3.90 |
0.40 |
0.03 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.25) |
(1.02) |
(0.14) |
(0.23) |
(0.31) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.94) |
(1.25) |
(0.20) |
(0.49) |
(0.48) |
Net
asset value, end of Year |
$13.11 |
$12.91 |
$15.26 |
$11.56 |
$11.65 |
Total
Return(b): |
9.93% |
(8.12)% |
34.14% |
3.18% |
1.09% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$24 |
$18 |
$17 |
$13 |
$12 |
Average
net assets (000) |
$20 |
$17 |
$15 |
$12 |
$12 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.18%(d) |
0.16% |
0.15% |
0.15% |
0.16% |
Expenses
before waivers and/or expense reimbursement |
16.92% |
22.95% |
44.92% |
112.23% |
106.19% |
Net
investment income (loss) |
2.36% |
2.60% |
1.06% |
2.06% |
1.66% |
Portfolio
turnover rate(e) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.93 |
$15.28 |
$11.57 |
$11.66 |
$12.11 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.28 |
0.36 |
0.14 |
0.21 |
0.02 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.88 |
(1.45) |
3.78 |
0.20 |
0.02 |
Total
from investment operations |
1.16 |
(1.09) |
3.92 |
0.41 |
0.04 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.27) |
(1.03) |
(0.15) |
(0.24) |
(0.32) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.96) |
(1.26) |
(0.21) |
(0.50) |
(0.49) |
Net
asset value, end of Year |
$13.13 |
$12.93 |
$15.28 |
$11.57 |
$11.66 |
Total
Return(b): |
10.04% |
(8.01)% |
34.21% |
3.30% |
1.21% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$692 |
$442 |
$227 |
$95 |
$67 |
Average
net assets (000) |
$519 |
$333 |
$154 |
$84 |
$35 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement |
0.08%(d) |
0.06% |
0.05% |
0.05% |
0.06% |
Expenses
before waivers and/or expense reimbursement |
2.92% |
2.96% |
6.69% |
22.80% |
45.88% |
Net
investment income (loss) |
2.32% |
2.58% |
1.02% |
1.91% |
0.15% |
Portfolio
turnover rate(e) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Per
Share Operating Performance(a): | |||||
Net
Asset Value, Beginning of Year |
$12.95 |
$15.31 |
$11.58 |
$11.66 |
$12.11 |
Income
(loss) from investment operations: | |||||
Net
investment income (loss) |
0.33 |
0.40 |
0.15 |
0.24 |
0.22 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.85 |
(1.47) |
3.81 |
0.18 |
(0.16) |
Total
from investment operations |
1.18 |
(1.07) |
3.96 |
0.42 |
0.06 |
Less
Dividends and Distributions: | |||||
Dividends
from net investment income |
(0.29) |
(1.06) |
(0.17) |
(0.24) |
(0.34) |
Distributions
from net realized gains |
(0.69) |
(0.23) |
(0.06) |
(0.26) |
(0.17) |
Total
dividends and distributions |
(0.98) |
(1.29) |
(0.23) |
(0.50) |
(0.51) |
Net
asset value, end of Year |
$13.15 |
$12.95 |
$15.31 |
$11.58 |
$11.66 |
Total
Return(b): |
10.20% |
(7.93)% |
34.50% |
3.46% |
1.39% |
| |||||
Ratios/Supplemental
Data: | |||||
Net
assets, end of Year
(000) |
$6,655 |
$6,246 |
$5,912 |
$2,154 |
$1,424 |
Average
net assets (000) |
$6,474 |
$6,501 |
$4,213 |
$1,657 |
$981 |
Ratios
to average net assets(c): | |||||
Expenses
after waivers and/or expense reimbursement(d) |
0.00%(e) |
0.00% |
0.00% |
0.00% |
0.00% |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement
from the manager |
(0.08)%(e) |
(0.09)% |
(0.10)% |
(0.10)% |
(0.09)% |
Expenses
before waivers and/or expense reimbursement |
2.18% |
1.79% |
2.32% |
7.79% |
14.67% |
Net
investment income (loss) |
2.68% |
2.85% |
1.11% |
2.09% |
1.90% |
Portfolio
turnover rate(f) |
42% |
64% |
35% |
44% |
35% |
(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) |
Includes
certain non-recurring expenses of 0.02% which are being excluded from
the Fund’s contractual waiver for the year ended July 31,
2023. |
(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, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.80 |
$12.74 |
$9.56 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.18 |
0.26 |
0.06 |
0.02 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.78 |
(1.25) |
3.18 |
(0.41) |
Total
from investment operations |
0.96 |
(0.99) |
3.24 |
(0.39) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.16) |
(0.79) |
(0.05) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.44) |
(0.95) |
(0.06) |
(0.05) |
Net
asset value, end of Period |
$11.32 |
$10.80 |
$12.74 |
$9.56 |
Total
Return(c): |
9.50% |
(8.61)% |
33.98% |
(3.96)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$13 |
$12 |
$13 |
$10 |
Average
net assets (000) |
$12 |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement |
0.87%(e) |
0.66% |
0.65% |
0.65%(f) |
Expenses
before waivers and/or expense reimbursement |
60.29% |
59.08% |
96.73% |
485.07%(f) |
Net
investment income (loss) |
1.68% |
2.16% |
0.55% |
0.32%(f) |
Portfolio
turnover rate(g) |
45% |
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) |
Includes
certain non-recurring expenses of 0.22% which are being excluded from the
Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R2 Shares | ||||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.82 |
$12.77 |
$9.58 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.18 |
0.23 |
0.07 |
0.03 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.81 |
(1.20) |
3.20 |
(0.40) |
Total
from investment operations |
0.99 |
(0.97) |
3.27 |
(0.37) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.19) |
(0.82) |
(0.07) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.47) |
(0.98) |
(0.08) |
(0.05) |
Net
asset value, end of Period |
$11.34 |
$10.82 |
$12.77 |
$9.58 |
Total
Return(c): |
9.77% |
(8.45)% |
34.30% |
(3.75)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$114 |
$73 |
$36 |
$12 |
Average
net assets (000) |
$89 |
$65 |
$22 |
$10 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement |
0.65%(e) |
0.41% |
0.40% |
0.40%(f) |
Expenses
before waivers and/or expense reimbursement |
36.05% |
34.43% |
71.91% |
446.28%(f) |
Net
investment income (loss) |
1.74% |
1.97% |
0.63% |
0.49%(f) |
Portfolio
turnover rate(g) |
45% |
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) |
Includes
certain non-recurring expenses of 0.25% which are being excluded from the
Fund's contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R3 Shares | ||||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.83 |
$12.78 |
$9.59 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.16 |
0.30 |
0.11 |
0.04 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.85 |
(1.25) |
3.18 |
(0.40) |
Total
from investment operations |
1.01 |
(0.95) |
3.29 |
(0.36) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.21) |
(0.84) |
(0.09) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.49) |
(1.00) |
(0.10) |
(0.05) |
Net
asset value, end of Period |
$11.35 |
$10.83 |
$12.78 |
$9.59 |
Total
Return(c): |
9.94% |
(8.30)% |
34.44% |
(3.65)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$21 |
$12 |
$13 |
$10 |
Average
net assets (000) |
$15 |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement |
0.53%(e) |
0.26% |
0.25% |
0.25%(f) |
Expenses
before waivers and/or expense reimbursement |
53.40% |
58.37% |
96.05% |
484.23%(f) |
Net
investment income (loss) |
1.54% |
2.56% |
0.95% |
0.72%(f) |
Portfolio
turnover rate(g) |
45% |
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) |
Includes
certain non-recurring expenses of 0.28% which are being excluded from the
Fund's contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R4 Shares | ||||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.84 |
$12.79 |
$9.59 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.23 |
0.32 |
0.12 |
0.05 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.79 |
(1.26) |
3.19 |
(0.41) |
Total
from investment operations |
1.02 |
(0.94) |
3.31 |
(0.36) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.22) |
(0.85) |
(0.10) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.50) |
(1.01) |
(0.11) |
(0.05) |
Net
asset value, end of Period |
$11.36 |
$10.84 |
$12.79 |
$9.59 |
Total
Return(c): |
10.04% |
(8.21)% |
34.66% |
(3.64)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$13 |
$12 |
$13 |
$10 |
Average
net assets (000) |
$12 |
$13 |
$11 |
$9 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement |
0.37%(e) |
0.16% |
0.15% |
0.15%(f) |
Expenses
before waivers and/or expense reimbursement |
59.30% |
58.20% |
95.88% |
484.02%(f) |
Net
investment income (loss) |
2.18% |
2.66% |
1.04% |
0.82%(f) |
Portfolio
turnover rate(g) |
45% |
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) |
Includes
certain non-recurring expenses of 0.22% which are being excluded from the
Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R5 Shares | ||||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.85 |
$12.80 |
$9.60 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.24 |
0.32 |
0.13 |
0.05 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.79 |
(1.24) |
3.19 |
(0.40) |
Total
from investment operations |
1.03 |
(0.92) |
3.32 |
(0.35) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.23) |
(0.87) |
(0.11) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.51) |
(1.03) |
(0.12) |
(0.05) |
Net
asset value, end of Period |
$11.37 |
$10.85 |
$12.80 |
$9.60 |
Total
Return(c): |
10.15% |
(8.11)% |
34.74% |
(3.54)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$16 |
$14 |
$14 |
$11 |
Average
net assets (000) |
$14 |
$14 |
$13 |
$10 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement |
0.27%(e) |
0.06% |
0.05% |
0.05%(f) |
Expenses
before waivers and/or expense reimbursement |
55.47% |
54.91% |
93.88% |
458.95%(f) |
Net
investment income (loss) |
2.28% |
2.72% |
1.14% |
0.83%(f) |
Portfolio
turnover rate(g) |
45% |
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) |
Includes
certain non-recurring expenses of 0.22% which are being excluded from the
Fund’s contractual waiver for the year ended July 31,
2023. |
(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. |
Class
R6 Shares | ||||
|
Year
Ended July 31, |
December
16,
2019(a)
through
July
31, 2020 | ||
|
2023 |
2022 |
2021 | |
Per
Share Operating Performance(b): | ||||
Net
Asset Value, Beginning of Period |
$10.86 |
$12.81 |
$9.61 |
$10.00 |
Income
(loss) from investment operations: | ||||
Net
investment income (loss) |
0.22 |
0.32 |
0.11 |
0.01 |
Net
realized and unrealized gain (loss) on investment
transactions |
0.82 |
(1.23) |
3.22 |
(0.35) |
Total
from investment operations |
1.04 |
(0.91) |
3.33 |
(0.34) |
Less
Dividends and Distributions: | ||||
Dividends
from net investment income |
(0.24) |
(0.88) |
(0.12) |
(0.05) |
Distributions
from net realized gains |
(0.28) |
(0.16) |
(0.01) |
- |
Total
dividends and distributions |
(0.52) |
(1.04) |
(0.13) |
(0.05) |
Net
asset value, end of Period |
$11.38 |
$10.86 |
$12.81 |
$9.61 |
Total
Return(c): |
10.32% |
(7.97)% |
34.88% |
(3.43)% |
| ||||
Ratios/Supplemental
Data: | ||||
Net
assets, end of Period
(000) |
$492 |
$336 |
$433 |
$141 |
Average
net assets (000) |
$368 |
$435 |
$331 |
$77 |
Ratios
to average net assets(d): | ||||
Expenses
after waivers and/or expense reimbursement(e) |
0.15%(f) |
0.00% |
0.00% |
0.00%(g) |
Expenses
after waivers and/or reimbursement inclusive of excess expense
reimbursement from the
manager |
0.15%(f) |
(0.09)% |
(0.10)% |
(0.11)%(g) |
Expenses
before waivers and/or expense reimbursement |
30.77% |
25.56% |
34.59% |
166.46%(g) |
Net
investment income (loss) |
2.11% |
2.70% |
0.93% |
0.11%(g) |
Portfolio
turnover rate(h) |
45% |
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) |
Includes
certain non-recurring expenses of 0.24% which are being excluded from the
Fund's contractual waiver for the year ended July 31,
2023. |
(g) |
Annualized. |
(h) |
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
P.O. Box
534432
Pittsburgh,
PA 15253-4432 ◾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
(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 |