Class
N: ARDEX |
Class
I: ARIDX |
Class
Z: ARZDX |
Class
N: ARRFX |
Class
I: AFAVX |
Class
Z: ARRZX |
Class
N: CHTTX |
Class
I: ABMIX |
Class
Z: ABIZX |
Class
N: ARSMX |
Class
I: ARIMX |
Class
Z: ARSZX |
Class
N: ARSVX |
Class
I: ARSIX |
Class
Z: ARZMX |
|
|
3 | |
3 | |
7 | |
11 | |
15 | |
18 | |
|
|
21 | |
21 | |
23 | |
25 | |
27 | |
29 | |
31 | |
34 | |
35 | |
|
|
39 | |
39 | |
40 | |
40 | |
41 | |
41 | |
43 | |
46 | |
47 | |
|
|
49 | |
49 | |
51 | |
53 | |
55 | |
57 | |
|
|
59 |
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements1 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements1 |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
River Road Dividend
All
Cap Value Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
|
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
|
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
|
Russell
3000® Value Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses1 |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements2 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements2 |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | |||
AMG
River Road Focused Absolute
Value
Fund |
1
Year |
5
Years |
Since
Inception |
Class
N
Return
Before Taxes |
|
|
|
Class
N
Return
After Taxes on Distributions |
|
|
|
Class
N
Return
After Taxes on Distributions and
Sale
of Fund Shares |
|
|
|
Class
I
Return
Before Taxes |
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
Russell
3000® Value Index
(reflects
no deduction for fees,
expenses,
or taxes) |
|
|
|
Russell
3000® Value Index
(reflects
no deduction for fees,
expenses,
or taxes) |
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1)
Fees |
% |
|
|
Other
Expenses1 |
% |
% |
% |
Total
Annual Fund Operating
Expenses |
% |
% |
% |
Fee
Waiver and Expense Reimbursements2 |
( |
( |
( |
Total
Annual Fund Operating
Expenses
After Fee Waiver and Expense
Reimbursements2 |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
River Road Mid Cap
Value
Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
|
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
|
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
|
Russell
Midcap® Value Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1) Fees |
% |
|
|
Other
Expenses1
|
% |
% |
% |
Total
Annual Fund Operating Expenses |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
River Road Small-Mid
Cap
Value Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
|
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
|
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
|
Russell
2500™ Value Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
Russell
2000® Value Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
|
Class
N |
Class
I |
Class
Z |
Management
Fee |
% |
% |
% |
Distribution
and Service (12b-1) Fees |
% |
|
|
Other
Expenses1 |
% |
% |
% |
Total
Annual Fund Operating Expenses |
% |
% |
% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
N |
$ |
$ |
$ |
$ |
Class
I |
$ |
$ |
$ |
$ |
Class
Z |
$ |
$ |
$ |
$ |
Average
Annual Total Returns as of
12/31/23 | ||||
AMG
River Road Small Cap
Value
Fund |
1
Year |
5
Years |
10
Years |
Since
Inception1
|
Class
N
Return
Before Taxes |
|
|
|
|
Class
N
Return
After Taxes on
Distributions |
|
|
|
|
Class
N
Return
After Taxes on
Distributions
and Sale of
Fund
Shares |
|
|
|
|
Class
I
Return
Before Taxes |
|
|
|
|
Class
Z
Return
Before Taxes |
|
|
|
|
Russell
2000® Value Index
(reflects
no deduction for
fees,
expenses, or taxes) |
|
|
|
|
|
AMG
River Road
Dividend
All Cap
Value
Fund |
AMG
River Road
Focused
Absolute
Value Fund |
AMG
River Road
Mid
Cap
Value Fund |
AMG
River Road
Small-Mid
Cap
Value Fund |
AMG
River Road
Small
Cap
Value
Fund |
Convertible
Securities Risk |
X |
|
X |
X |
X |
Currency
Risk |
X |
X |
X |
X |
X |
Focused
Investment Risk |
|
X |
|
|
|
Foreign
Investment Risk |
X |
X |
X |
X |
X |
High
Portfolio Turnover Risk |
|
X |
|
|
|
Liquidity
Risk |
X |
X |
X |
X |
X |
Management
Risk |
X |
X |
X |
X |
X |
Market
Risk |
X |
X |
X |
X |
X |
Master
Limited Partnership Risk |
X |
X |
|
|
|
Non-Diversified
Fund Risk |
|
X |
|
|
|
PTP
Risk |
X |
X |
|
|
|
Real
Estate Industry Risk |
X |
X |
X |
X |
X |
Royalty
Income Trust Risk |
X |
|
|
|
|
Sector
Risk |
X |
X |
X |
X |
X |
Small-
and Mid-Capitalization Stock Risk |
X |
X |
X |
X |
X |
Value
Stock Risk |
X |
X |
X |
X |
X |
AMG
River Road Dividend All Cap Value Fund | |
Thomas
S. Forsha, CFA |
Portfolio
Manager of the Fund since June 2007. Mr. Forsha is a senior portfolio
manager for River Road’s Dividend All-Cap
Value
portfolio. He previously served as a supervising portfolio manager for the
firm’s Focused Absolute Value® portfolios. He
is
a non-voting member of River Road’s Executive Committee. Mr. Forsha joined
River Road in 2005 and holds equity in the
firm. Prior
Experience • Assistant
Vice President, Portfolio Manager, and Equity Analyst, ABN AMRO Asset
Management USA Education • MBA,
The University of Chicago Booth School of Business • BS
in Finance, The Ohio State University’s Fisher College of
Business Certifications/Affiliations • CFA®
charterholder • CFA
Institute member • CFA
Society Louisville member |
Andrew
R. McIntosh, CFA |
Portfolio
Manager of the Fund since April 2018. Mr. McIntosh is a portfolio manager
for River Road’s Dividend All-Cap Value
portfolio.
He previously served as a senior equity analyst for River Road. Mr.
McIntosh joined River Road in 2011 and holds
equity
in the firm. Prior
Experience • Structured
Finance Analyst on a portfolio of subprime and second lien securities,
AEGON USA Investment Management
LLC • Commercial
Mortgage Production Analyst, AEGON USA Realty Advisors
Inc. Education • BBA
in Finance, University of Iowa Certifications/Affiliations • CFA®
charterholder • CFA
Institute member • CFA
Society Louisville member and past president |
AMG
River Road Focused Absolute Value Fund | |
R.
Andrew Beck |
Portfolio
Manager since the Fund’s inception in November 2015. Mr. Beck is River
Road’s Chief Executive Officer, responsible
for
establishing and driving the firm’s business strategy. Additionally, he is
a senior portfolio manager for River Road’s Small
Cap
Value and Small-Mid Cap Value strategies, a portfolio manager for the Mid
Cap Value portfolio, and a supervising
portfolio
manager for the Focused Absolute Value® portfolios. He is Chair of River
Road’s Executive Committee and
Investment
Oversight Committee. Mr. Beck co-founded River Road in 2005 and holds
equity in the firm. Prior
Experience • Senior
Research Analyst, Senior Vice President, and Portfolio Manager, SMC
Capital Inc. Education • MBA,
F.W. Olin School at Babson College • BS
in Finance, University of Louisville |
J.
Alex Brown |
Portfolio
Manager of the Fund since June 2022. Mr. Brown is River Road’s Chief
Investment Officer, responsible for promoting
investment
process alignment across all strategies with the firm’s investment
philosophy and leading the research and data
management
functions. Additionally, he is a supervising portfolio manager for River
Road’s Focused Absolute Value®
portfolios.
Mr. Brown previously served as Director of Research for River Road. He is
a non-voting member of River Road’s
Executive
Committee and a member of River Road’s Investment Oversight Committee. Mr.
Brown joined River Road in 2010
and
holds equity in the firm. Prior
Experience • Associate,
Consumer & Retail Investment Banking, Wachovia Capital Markets
LLC • Section
Chief and Senior Analyst, Officer Promotions Analysis, HQ Air Force
Personnel Center • Officer
Operations Analyst, HQ Air Force Personnel Center • Captain
and Lieutenant, United States Air Force Education • MBA,
Harvard Business School • BS
in Operations Research as a Distinguished Graduate, United States Air
Force Academy |
AMG
River Road Mid Cap Value Fund | |
Matthew
W. Moran, CFA |
Portfolio
Manager of the Fund since March 2021. Mr. Moran is a portfolio manager for
River Road’s Mid Cap Value and
Large
Cap Value portfolios. He previously served as a senior equity analyst for
River Road. Mr. Moran joined River Road in
2007
and holds equity in the firm. Prior
Experience • Equity
Analyst, Morningstar • Associate,
Citigroup • Analyst,
Goldman Sachs Education • MBA,
The University of Chicago Booth School of Business • BS
in Finance, Bradley University, summa cum laude Certifications/Affiliations • CFA®
charterholder • CFA
Institute member • CFA
Society Louisville member |
Daniel
R. Johnson, CFA, CPA |
Portfolio
Manager of the Fund since March 2021. Mr. Johnson is a portfolio manager
for River Road’s Mid Cap Value and
Large
Cap Value portfolios. He previously served as a senior equity analyst for
River Road. He is a non-voting member of
River
Road’s Executive Committee. Mr. Johnson joined River Road in 2006 and
holds equity in the firm. Prior
Experience • Associate
Auditor, PricewaterhouseCoopers Education • Master
of Accountancy, University of Kentucky • BS
in Accounting, University of Kentucky Certifications/Affiliations • CFA®
charterholder • CPA
designation • CFA
Institute member • CFA
Society Louisville member |
R.
Andrew Beck |
Portfolio
Manager of the Fund since March 2021. Please see
above. |
AMG
River Road Small-Mid Cap Value Fund
AMG
River Road Small Cap Value Fund | |
J.
Justin Akin |
Portfolio
Manager of each Fund since March 2012. Mr. Akin is a senior portfolio
manager for River Road’s Small Cap Value
and
Small-Mid Cap Value portfolios. He previously served as a senior equity
analyst for River Road. He is a non-voting
member
of River Road’s Executive Committee. Mr. Akin joined River Road in 2005
and holds equity in the firm. Prior
Experience • Equity
Research Analyst, SMC Capital Inc. Education • BS
in Economics, Centre College Affiliations • CFA
Institute member • CFA
Society Louisville member |
R.
Andrew Beck |
Portfolio
Manager since AMG River Road Small Cap Value Fund’s inception in June 2005
and AMG River Road Small-Mid
Cap
Value Fund’s inception in March 2007. Please see
above. |
|
If
you wish to open an account
and
buy shares*... |
If
you wish to add shares to your
account*... |
If
you wish to sell shares*†... |
Through
your registered
investment
professional: |
Contact
your investment advisor or
other
investment professional |
Send
any additional monies to your
investment
professional to the
address
on your account statement |
Contact
your investment advisor or
other
investment professional |
On
your own:
By
mail |
Complete
the account application,
then
mail the application and a
check
payable to AMG Funds to: AMG
Funds
c/o
BNY Mellon Investment Servicing
(US)
Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 |
Send
a letter of instruction and a
check
payable to AMG Funds to: AMG
Funds
c/o
BNY Mellon Investment Servicing
(US)
Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 (Include
your account number and
Fund
name on your check) |
Write
a letter of instruction containing: • Name
of the Fund • Dollar
amount or number of
shares
you wish to sell • Your
name • Your
account number • Signatures
of all account owners Mail
your letter to: AMG
Funds
c/o
BNY Mellon Investment
Servicing
(US) Inc.
P.O.
Box 534426
Pittsburgh,
PA 15253-4426 |
By
telephone |
Not
available |
If
your account has already been
established,
call the transfer agent at
800.548.4539 |
If
you elected telephone redemption
privileges
on your account application,
call
us at 800.548.4539. Telephone
redemptions
are available only for
redemptions
of less than $100,000 for
Class
N shares and Class I shares and
less
than $250,000 for Class Z shares. |
Over
the Internet |
Not
available |
If
your account has already been
established
and ACH banking
instructions
are on file, go to our
website
at wealth.amg.com |
Go
to our website at wealth.amg.com.
Internet
redemptions are available only
for
redemptions of less than $100,000
for
Class N shares and Class I shares
and
less than $250,000 for Class Z
shares. |
By
bank wire |
Call
us at 800.548.4539 for
instructions |
Call
us at 800.548.4539 for
instructions |
Available
if bank wire instructions are
on
file for your account. |
|
Initial
Investment |
Additional
Investments |
Class
N: |
|
|
• Regular
Accounts |
$2,000 |
$100 |
• Individual
Retirement Accounts |
$1,000 |
$100 |
Class
I: |
|
|
• Regular
Accounts |
$100,000 |
$100 |
• Individual
Retirement Accounts |
$25,000 |
$100 |
Class
Z: |
|
|
• Regular
Accounts |
$5,000,000 |
$1,000 |
• Individual
Retirement Accounts (Direct Accounts Only) |
$50,000 |
$1,000 |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$10.70 |
$13.28 |
$10.02 |
$12.34 |
$12.29 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.20 |
0.18 |
0.19 |
0.25 |
0.27 |
Net
realized and unrealized gain (loss) on investments |
(0.88
) |
(0.29
) |
3.27 |
(1.49
) |
0.80 |
Total
income (loss) from investment operations |
(0.68
) |
(0.11
) |
3.46 |
(1.24
) |
1.07 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.23
) |
(0.27
) |
(0.20
) |
(0.34
) |
(0.30
) |
Net
realized gain on investments |
(1.16
) |
(2.20
) |
— |
(0.74
) |
(0.72
) |
Total
distributions to shareholders |
(1.39
) |
(2.47
) |
(0.20
) |
(1.08
) |
(1.02
) |
Net
Asset Value, End of Year |
$8.63 |
$10.70 |
$13.28 |
$10.02 |
$12.34 |
Total
Return2,3 |
(7.50
)% |
(1.34
)% |
34.74
% |
(10.96
)% |
10.11
% |
Ratio
of net expenses to average net assets4 |
0.97
%5 |
1.03
% |
1.06
% |
1.13
% |
1.11
% |
Ratio
of gross expenses to average net assets6 |
1.02
% |
1.07
% |
1.09
% |
1.13
% |
1.12
% |
Ratio
of net investment income to average net assets2 |
2.10
% |
1.61
% |
1.51
% |
2.38
% |
2.32
% |
Portfolio
turnover |
25
% |
30
% |
20
% |
35
% |
29
% |
Net
assets end of Year (000's) omitted |
$28,325 |
$36,432 |
$43,430 |
$41,358 |
$79,811 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$10.68 |
$13.27 |
$10.01 |
$12.33 |
$12.29 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.23 |
0.21 |
0.22 |
0.28 |
0.31 |
Net
realized and unrealized gain (loss) on investments |
(0.88
) |
(0.30
) |
3.27 |
(1.49
) |
0.78 |
Total
income (loss) from investment operations |
(0.65
) |
(0.09
) |
3.49 |
(1.21
) |
1.09 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.25
) |
(0.30
) |
(0.23
) |
(0.37
) |
(0.33
) |
Net
realized gain on investments |
(1.16
) |
(2.20
) |
— |
(0.74
) |
(0.72
) |
Total
distributions to shareholders |
(1.41
) |
(2.50
) |
(0.23
) |
(1.11
) |
(1.05
) |
Net
Asset Value, End of Year |
$8.62 |
$10.68 |
$13.27 |
$10.01 |
$12.33 |
Total
Return2,3 |
(7.17
)% |
(1.18
)% |
35.10
% |
(10.69
)% |
10.32
% |
Ratio
of net expenses to average net assets4 |
0.72
%5 |
0.78
% |
0.81
% |
0.86
% |
0.84
% |
Ratio
of gross expenses to average net assets6 |
0.77
% |
0.82
% |
0.84
% |
0.86
% |
0.85
% |
Ratio
of net investment income to average net assets2 |
2.35
% |
1.86
% |
1.76
% |
2.65
% |
2.59
% |
Portfolio
turnover |
25
% |
30
% |
20
% |
35
% |
29
% |
Net
assets end of Year (000's) omitted |
$202,039 |
$290,632 |
$382,571 |
$408,844 |
$533,106 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$10.69 |
$13.28 |
$10.01 |
$12.33 |
$12.29 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.23 |
0.21 |
0.22 |
0.27 |
0.32 |
Net
realized and unrealized gain (loss) on investments |
(0.88
) |
(0.29
) |
3.29 |
(1.47
) |
0.77 |
Total
income (loss) from investment operations |
(0.65
) |
(0.08
) |
3.51 |
(1.20
) |
1.09 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.26
) |
(0.31
) |
(0.24
) |
(0.38
) |
(0.33
) |
Net
realized gain on investments |
(1.16
) |
(2.20
) |
— |
(0.74
) |
(0.72
) |
Total
distributions to shareholders |
(1.42
) |
(2.51
) |
(0.24
) |
(1.12
) |
(1.05
) |
Net
Asset Value, End of Year |
$8.62 |
$10.69 |
$13.28 |
$10.01 |
$12.33 |
Total
Return2,3 |
(7.22
)% |
(1.12
)% |
35.26
% |
(10.65
)% |
10.37
% |
Ratio
of net expenses to average net assets4 |
0.68
%5 |
0.74
% |
0.77
% |
0.81
% |
0.79
% |
Ratio
of gross expenses to average net assets6 |
0.73
% |
0.78
% |
0.80
% |
0.81
% |
0.80
% |
Ratio
of net investment income to average net assets2 |
2.39
% |
1.90
% |
1.80
% |
2.69
% |
2.64
% |
Portfolio
turnover |
25
% |
30
% |
20
% |
35
% |
29
% |
Net
assets end of Year (000's) omitted |
$3,216 |
$3,199 |
$2,430 |
$1,901 |
$63 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
4 |
Includes
reduction from broker recapture amounting to 0.01%, 0.01%, 0.01%, less
than 0.01% and 0.01%, for the fiscal years ended October 31,
2023,
2022, 2021, 2020 and 2019, respectively. |
5 |
Includes
interest expense totaling 0.01% related to utilization of the line of
credit. |
6 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$11.50 |
$14.44 |
$11.05 |
$12.65 |
$11.91 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.11 |
0.04 |
0.01 |
0.04
3 |
0.04 |
Net
realized and unrealized gain (loss) on investments |
0.21 |
(2.03
) |
3.38 |
(1.39
) |
1.45 |
Total
income (loss) from investment operations |
0.32 |
(1.99
) |
3.39 |
(1.35
) |
1.49 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.02
) |
— |
— |
(0.02
) |
(0.05
) |
Net
realized gain on investments |
(0.07
) |
(0.95
) |
— |
(0.23
) |
(0.70
) |
Total
distributions to shareholders |
(0.09
) |
(0.95
) |
— |
(0.25
) |
(0.75
) |
Net
Asset Value, End of Year |
$11.73 |
$11.50 |
$14.44 |
$11.05 |
$12.65 |
Total
Return2,4 |
2.76
% |
(14.80
)% |
30.68
% |
(11.03
)% |
14.29
% |
Ratio
of net expenses to average net assets5 |
1.05
% |
1.05
% |
1.06
% |
1.03
% |
0.98
% |
Ratio
of gross expenses to average net assets6 |
1.22
% |
1.14
% |
1.12
% |
1.15
% |
1.21
% |
Ratio
of net investment income to average net assets2 |
0.93
% |
0.30
% |
0.10
% |
0.34
% |
0.34
% |
Portfolio
turnover |
63
% |
113
% |
83
% |
103
% |
59
% |
Net
assets end of Year (000's) omitted |
$1,910 |
$2,243 |
$3,666 |
$12,466 |
$15,284 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$11.51 |
$14.48 |
$11.12 |
$12.72 |
$11.98 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.14 |
0.07 |
0.05 |
0.07
3 |
0.07 |
Net
realized and unrealized gain (loss) on investments |
0.22 |
(2.04
) |
3.39 |
(1.40
) |
1.46 |
Total
income (loss) from investment operations |
0.36 |
(1.97
) |
3.44 |
(1.33
) |
1.53 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.05
) |
(0.05
) |
(0.08
) |
(0.04
) |
(0.09
) |
Net
realized gain on investments |
(0.07
) |
(0.95
) |
— |
(0.23
) |
(0.70
) |
Total
distributions to shareholders |
(0.12
) |
(1.00
) |
(0.08
) |
(0.27
) |
(0.79
) |
Net
Asset Value, End of Year |
$11.75 |
$11.51 |
$14.48 |
$11.12 |
$12.72 |
Total
Return2,4 |
3.11
% |
(14.64
)% |
30.98
% |
(10.81
)% |
14.55
% |
Ratio
of net expenses to average net assets5 |
0.81
% |
0.80
% |
0.81
% |
0.78
% |
0.73
% |
Ratio
of gross expenses to average net assets6 |
0.98
% |
0.89
% |
0.87
% |
0.90
% |
0.96
% |
Ratio
of net investment income to average net assets2 |
1.17
% |
0.55
% |
0.35
% |
0.59
% |
0.59
% |
Portfolio
turnover |
63
% |
113
% |
83
% |
103
% |
59
% |
Net
assets end of Year (000's) omitted |
$40,205 |
$53,620 |
$176,460 |
$130,758 |
$130,928 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$11.52 |
$14.49 |
$11.12 |
$12.73 |
$11.98 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.15 |
0.08 |
0.06 |
0.07
3 |
0.07 |
Net
realized and unrealized gain (loss) on investments |
0.21 |
(2.04
) |
3.39 |
(1.41
) |
1.47 |
Total
income (loss) from investment operations |
0.36 |
(1.96
) |
3.45 |
(1.34
) |
1.54 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.06
) |
(0.06
) |
(0.08
) |
(0.04
) |
(0.09
) |
Net
realized gain on investments |
(0.07
) |
(0.95
) |
— |
(0.23
) |
(0.70
) |
Total
distributions to shareholders |
(0.13
) |
(1.01
) |
(0.08
) |
(0.27
) |
(0.79
) |
Net
Asset Value, End of Year |
$11.75 |
$11.52 |
$14.49 |
$11.12 |
$12.73 |
Total
Return2,4 |
3.10
% |
(14.59
)% |
31.12
% |
(10.86
)% |
14.69
% |
Ratio
of net expenses to average net assets5 |
0.77
% |
0.76
% |
0.77
% |
0.74
% |
0.69
% |
Ratio
of gross expenses to average net assets6 |
0.94
% |
0.85
% |
0.83
% |
0.86
% |
0.92
% |
Ratio
of net investment income to average net assets2 |
1.21
% |
0.59
% |
0.39
% |
0.63
% |
0.63
% |
Portfolio
turnover |
63
% |
113
% |
83
% |
103
% |
59
% |
Net
assets end of Year (000's) omitted |
$6,450 |
$7,677 |
$13,323 |
$2,462 |
$157 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
Includes
non-recurring dividends. Without these dividends, net investment income
per share would have been $0.02, $0.05 and $0.05 for Class N,
Class
I and Class Z, respectively. |
4 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
5 |
Includes
reduction from broker recapture amounting to 0.01%, 0.02%, 0.01%, 0.01%
and 0.02% for the fiscal years ended October 31, 2023,
2022,
2021, 2020 and 2019, respectively. |
6 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$17.74 |
$19.43 |
$29.75 |
$34.95 |
$38.27 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.02 |
0.17
3 |
0.02
4 |
0.16 |
0.34
5 |
Net
realized and unrealized gain (loss) on investments |
1.21 |
(1.22
) |
11.69 |
(2.85
) |
(0.85
) |
Total
income (loss) from investment operations |
1.23 |
(1.05
) |
11.71 |
(2.69
) |
(0.51
) |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.16
) |
(0.04
) |
(0.02
) |
(0.33
) |
(0.15
) |
Net
realized gain on investments |
(1.38
) |
(0.60
) |
(22.01
) |
(2.18
) |
(2.66
) |
Total
distributions to shareholders |
(1.54
) |
(0.64
) |
(22.03
) |
(2.51
) |
(2.81
) |
Net
Asset Value, End of Year |
$17.43 |
$17.74 |
$19.43 |
$29.75 |
$34.95 |
Total
Return2,6 |
7.39
% |
(5.67
)% |
50.65
% |
(8.62
)% |
(0.55
)% |
Ratio
of net expenses to average net assets |
1.10
%7 |
1.09
%7 |
1.13
%7 |
1.14
% |
1.15
% |
Ratio
of gross expenses to average net assets8 |
1.13
% |
1.11
% |
1.18
% |
1.16
% |
1.15
% |
Ratio
of net investment income to average net assets2 |
0.13
% |
0.90
% |
0.08
% |
0.52
% |
0.95
% |
Portfolio
turnover |
75
% |
71
% |
149
% |
50
% |
21
% |
Net
assets end of Year (000's) omitted |
$220,480 |
$227,513 |
$287,165 |
$259,561 |
$518,354 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$19.05 |
$20.82 |
$30.68 |
$35.96 |
$39.33 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.08 |
0.24
3 |
0.09
4 |
0.25 |
0.45
5 |
Net
realized and unrealized gain (loss) on investments |
1.31 |
(1.32
) |
12.16 |
(2.94
) |
(0.89
) |
Total
income (loss) from investment operations |
1.39 |
(1.08
) |
12.25 |
(2.69
) |
(0.44
) |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.22
) |
(0.09
) |
(0.10
) |
(0.41
) |
(0.27
) |
Net
realized gain on investments |
(1.38
) |
(0.60
) |
(22.01
) |
(2.18
) |
(2.66
) |
Total
distributions to shareholders |
(1.60
) |
(0.69
) |
(22.11
) |
(2.59
) |
(2.93
) |
Net
Asset Value, End of Year |
$18.84 |
$19.05 |
$20.82 |
$30.68 |
$35.96 |
Total
Return2,6 |
7.72
% |
(5.41
)% |
51.11
% |
(8.38
)% |
(0.33
)% |
Ratio
of net expenses to average net assets |
0.80
%7 |
0.80
%7 |
0.87
%7 |
0.90
% |
0.90
% |
Ratio
of gross expenses to average net assets8 |
0.83
% |
0.82
% |
0.92
% |
0.92
% |
0.90
% |
Ratio
of net investment income to average net assets2 |
0.43
% |
1.19
% |
0.34
% |
0.76
% |
1.20
% |
Portfolio
turnover |
75
% |
71
% |
149
% |
50
% |
21
% |
Net
assets end of Year (000's) omitted |
$78,562 |
$74,094 |
$112,741 |
$176,807 |
$1,102,479 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$18.94 |
$20.71 |
$30.63 |
$35.95 |
$39.34 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income1,2 |
0.09 |
0.24
3 |
0.10
4 |
0.28 |
0.48
5 |
Net
realized and unrealized gain (loss) on investments |
1.29 |
(1.29
) |
12.13 |
(2.94
) |
(0.89
) |
Total
income (loss) from investment operations |
1.38 |
(1.05
) |
12.23 |
(2.66
) |
(0.41
) |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.23
) |
(0.12
) |
(0.14
) |
(0.48
) |
(0.32
) |
Net
realized gain on investments |
(1.38
) |
(0.60
) |
(22.01
) |
(2.18
) |
(2.66
) |
Total
distributions to shareholders |
(1.61
) |
(0.72
) |
(22.15
) |
(2.66
) |
(2.98
) |
Net
Asset Value, End of Year |
$18.71 |
$18.94 |
$20.71 |
$30.63 |
$35.95 |
Total
Return2,6 |
7.73
% |
(5.34
)% |
51.18
% |
(8.32
)% |
(0.25
)% |
Ratio
of net expenses to average net assets |
0.75
%7 |
0.75
%7 |
0.80
%7 |
0.82
% |
0.82
% |
Ratio
of gross expenses to average net assets8 |
0.78
% |
0.77
% |
0.85
% |
0.84
% |
0.82
% |
Ratio
of net investment income to average net assets2 |
0.48
% |
1.24
% |
0.41
% |
0.84
% |
1.28
% |
Portfolio
turnover |
75
% |
71
% |
149
% |
50
% |
21
% |
Net
assets end of Year (000's) omitted |
$6,853 |
$7,221 |
$8,237 |
$9,786 |
$47,907 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
Includes
non-recurring dividends. Without these dividends, net investment income
per share would have been $0.05, $0.11 and $0.11 for Class N,
Class
I and Class Z, respectively. |
4 |
Includes
non-recurring dividends. Without these dividends, net investment income
(loss) per share would have been $(0.02), $0.05 and $0.06 for
Class
N, Class I and Class Z, respectively. |
5 |
Includes
non-recurring dividends. Without these dividends, net investment income
per share would have been $0.23, $0.33 and $0.36 for Class N,
Class
I and Class Z, respectively. |
6 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
7 |
Includes
reduction from brokerage recapture amounting to 0.01%, 0.01% and less than
0.01% for the fiscal years ended October 31, 2023, 2022
and
2021, respectively. |
8 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$9.10 |
$9.81 |
$6.80 |
$7.84 |
$7.62 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.01 |
(0.03
) |
(0.04
) |
(0.01
)3 |
(0.02
) |
Net
realized and unrealized gain (loss) on investments |
(0.09
) |
(0.11
) |
3.05 |
(0.88
) |
0.78 |
Total
income (loss) from investment operations |
(0.08
) |
(0.14
) |
3.01 |
(0.89
) |
0.76 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.00
)4 |
— |
— |
(0.01
) |
— |
Net
realized gain on investments |
(0.41
) |
(0.57
) |
— |
(0.14
) |
(0.54
) |
Total
distributions to shareholders |
(0.41
) |
(0.57
) |
— |
(0.15
) |
(0.54
) |
Net
Asset Value, End of Year |
$8.61 |
$9.10 |
$9.81 |
$6.80 |
$7.84 |
Total
Return2,5 |
(0.77
)% |
(1.64
)% |
44.27
% |
(11.65
)% |
11.82
% |
Ratio
of net expenses to average net assets6 |
1.27
% |
1.28
% |
1.25
% |
1.31
% |
1.31
% |
Ratio
of gross expenses to average net assets7 |
1.28
% |
1.28
% |
1.27
% |
1.33
% |
1.37
% |
Ratio
of net investment income (loss) to average net assets2 |
0.10
% |
(0.28
)% |
(0.38
)% |
(0.16
)% |
(0.27
)% |
Portfolio
turnover |
30
% |
32
% |
44
% |
47
% |
38
% |
Net
assets end of Year (000's) omitted |
$18,655 |
$18,961 |
$22,702 |
$21,618 |
$24,669 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$9.41 |
$10.10 |
$6.98 |
$8.04 |
$7.78 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.03 |
(0.00
)4 |
(0.01
) |
0.01
3 |
(0.00
)4 |
Net
realized and unrealized gain (loss) on investments |
(0.09
) |
(0.12
) |
3.13 |
(0.91
) |
0.80 |
Total
income (loss) from investment operations |
(0.06
) |
(0.12
) |
3.12 |
(0.90
) |
0.80 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.00
)4 |
— |
(0.00
)4 |
(0.02
) |
— |
Net
realized gain on investments |
(0.41
) |
(0.57
) |
— |
(0.14
) |
(0.54
) |
Total
distributions to shareholders |
(0.41
) |
(0.57
) |
(0.00
)4 |
(0.16
) |
(0.54
) |
Net
Asset Value, End of Year |
$8.94 |
$9.41 |
$10.10 |
$6.98 |
$8.04 |
Total
Return2,5 |
(0.48
)% |
(1.38
)% |
44.70
% |
(11.47
)% |
12.12
% |
Ratio
of net expenses to average net assets6 |
1.02
% |
1.02
% |
1.00
% |
1.05
% |
1.06
% |
Ratio
of gross expenses to average net assets7 |
1.03
% |
1.02
% |
1.02
% |
1.07
% |
1.12
% |
Ratio
of net investment income (loss) to average net assets2 |
0.35
% |
(0.02
)% |
(0.13
)% |
0.09
% |
(0.02
)% |
Portfolio
turnover |
30
% |
32
% |
44
% |
47
% |
38
% |
Net
assets end of Year (000's) omitted |
$214,093 |
$188,163 |
$218,698 |
$156,350 |
$145,620 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$9.42 |
$10.10 |
$6.98 |
$8.04 |
$7.77 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.04 |
0.00
8 |
(0.01
) |
0.01
3 |
0.00
8 |
Net
realized and unrealized gain (loss) on investments |
(0.10
) |
(0.11
) |
3.13 |
(0.91
) |
0.81 |
Total
income (loss) from investment operations |
(0.06
) |
(0.11
) |
3.12 |
(0.90
) |
0.81 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.00
)4 |
(0.00
)4 |
(0.00
)4 |
(0.02
) |
— |
Net
realized gain on investments |
(0.41
) |
(0.57
) |
— |
(0.14
) |
(0.54
) |
Total
distributions to shareholders |
(0.41
) |
(0.57
) |
(0.00
)4 |
(0.16
) |
(0.54
) |
Net
Asset Value, End of Year |
$8.95 |
$9.42 |
$10.10 |
$6.98 |
$8.04 |
Total
Return2,5 |
(0.47
)% |
(1.26
)% |
44.77
% |
(11.43
)% |
12.26
% |
Ratio
of net expenses to average net assets6 |
0.97
% |
0.97
% |
0.95
% |
1.00
% |
1.01
% |
Ratio
of gross expenses to average net assets7 |
0.98
% |
0.97
% |
0.97
% |
1.02
% |
1.07
% |
Ratio
of net investment income (loss) to average net assets2 |
0.40
% |
0.03
% |
(0.08
)% |
0.14
% |
0.03
% |
Portfolio
turnover |
30
% |
32
% |
44
% |
47
% |
38
% |
Net
assets end of Year (000's) omitted |
$29,387 |
$34,477 |
$35,766 |
$553 |
$183 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
Includes
non-recurring dividends. Without these dividends, net investment income
(loss) per share would have been $(0.02), $(0.00) and $0.00 for
Class
N, Class I and Class Z, respectively. |
4 |
Less
than $(0.005) per share. |
5 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
6 |
Includes
reduction from broker recapture amounting to 0.01%, 0.01%, 0.02%, 0.02%
and 0.03% for the fiscal years ended October 31, 2023,
2022,
2021, 2020 and 2019, respectively. |
7 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
8 |
Less
than $0.005 per share. |
|
For
the fiscal years ended October 31, | ||||
Class
N |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$14.26 |
$15.45 |
$10.76 |
$13.00 |
$13.26 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment loss1,2 |
(0.00
)3 |
(0.09
) |
(0.09
) |
(0.02
) |
(0.04
) |
Net
realized and unrealized gain (loss) on investments |
0.20 |
0.06 |
4.78 |
(1.43
) |
1.17 |
Total
income (loss) from investment operations |
0.20 |
(0.03
) |
4.69 |
(1.45
) |
1.13 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
realized gain on investments |
(0.52
) |
(1.16
) |
— |
(0.79
) |
(1.39
) |
Net
Asset Value, End of Year |
$13.94 |
$14.26 |
$15.45 |
$10.76 |
$13.00 |
Total
Return2,4 |
1.58
% |
(0.35
)% |
43.59
% |
(12.09
)% |
10.86
% |
Ratio
of net expenses to average net assets5 |
1.35
% |
1.35
% |
1.33
% |
1.34
% |
1.36
% |
Ratio
of gross expenses to average net assets6 |
1.35
% |
1.35
% |
1.35
% |
1.36
% |
1.37
% |
Ratio
of net investment loss to average net assets2 |
(0.01
)% |
(0.60
)% |
(0.61
)% |
(0.19
)% |
(0.33
)% |
Portfolio
turnover |
25
% |
33
% |
39
% |
42
% |
47
% |
Net
assets end of Year (000's) omitted |
$41,927 |
$37,265 |
$34,246 |
$25,920 |
$29,963 |
|
For
the fiscal years ended October 31, | ||||
Class
I |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$14.76 |
$15.91 |
$11.05 |
$13.30 |
$13.51 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.04 |
(0.05
) |
(0.05
) |
0.01 |
(0.01
) |
Net
realized and unrealized gain (loss) on investments |
0.20 |
0.06 |
4.91 |
(1.46
) |
1.20 |
Total
income (loss) from investment operations |
0.24 |
0.01 |
4.86 |
(1.45
) |
1.19 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
— |
— |
(0.00
)3 |
(0.01
) |
(0.01
) |
Net
realized gain on investments |
(0.52
) |
(1.16
) |
— |
(0.79
) |
(1.39
) |
Total
distributions to shareholders |
(0.52
) |
(1.16
) |
(0.00
)3 |
(0.80
) |
(1.40
) |
Net
Asset Value, End of Year |
$14.48 |
$14.76 |
$15.91 |
$11.05 |
$13.30 |
Total
Return2,4 |
1.81
% |
(0.07
)% |
43.99
% |
(11.91
)% |
11.23
% |
Ratio
of net expenses to average net assets5 |
1.09
% |
1.09
% |
1.07
% |
1.07
% |
1.09
% |
Ratio
of gross expenses to average net assets6 |
1.09
% |
1.09
% |
1.09
% |
1.09
% |
1.10
% |
Ratio
of net investment income (loss) to average net assets2 |
0.25
% |
(0.34
)% |
(0.35
)% |
0.07
% |
(0.06
)% |
Portfolio
turnover |
25
% |
33
% |
39
% |
42
% |
47
% |
Net
assets end of Year (000's) omitted |
$830,022 |
$819,940 |
$835,473 |
$487,637 |
$374,344 |
|
For
the fiscal years ended October 31, | ||||
Class
Z |
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Year |
$14.78 |
$15.92 |
$11.05 |
$13.30 |
$13.51 |
Income
(loss) from Investment Operations: |
|
|
|
|
|
Net
investment income (loss)1,2 |
0.05 |
(0.04
) |
(0.04
) |
0.02 |
0.00
7 |
Net
realized and unrealized gain (loss) on investments |
0.21 |
0.06 |
4.92 |
(1.46
) |
1.20 |
Total
income (loss) from investment operations |
0.26 |
0.02 |
4.88 |
(1.44
) |
1.20 |
Less
Distributions to Shareholders from: |
|
|
|
|
|
Net
investment income |
— |
— |
(0.01
) |
(0.02
) |
(0.02
) |
Net
realized gain on investments |
(0.52
) |
(1.16
) |
— |
(0.79
) |
(1.39
) |
Total
distributions to shareholders |
(0.52
) |
(1.16
) |
(0.01
) |
(0.81
) |
(1.41
) |
Net
Asset Value, End of Year |
$14.52 |
$14.78 |
$15.92 |
$11.05 |
$13.30 |
Total
Return2,4 |
1.94
% |
(0.00
)%8 |
44.17
% |
(11.78
)% |
11.29
% |
Ratio
of net expenses to average net assets5 |
1.00
% |
1.00
% |
0.98
% |
0.99
% |
1.01
% |
Ratio
of gross expenses to average net assets6 |
1.00
% |
1.00
% |
1.00
% |
1.01
% |
1.02
% |
Ratio
of net investment income (loss) to average net assets2 |
0.34
% |
(0.25
)% |
(0.26
)% |
0.16
% |
0.02
% |
Portfolio
turnover |
25
% |
33
% |
39
% |
42
% |
47
% |
Net
assets end of Year (000's) omitted |
$10,457 |
$9,792 |
$7,911 |
$1,025 |
$186 |
1 |
Per
share numbers have been calculated using average
shares. |
2 |
Total
returns and net investment income (loss) would have been lower had certain
expenses not been offset. |
3 |
Less
than $(0.005) per share. |
4 |
The
total return is calculated using the published Net Asset Value as of
fiscal year end. |
5 |
Includes
reduction from broker recapture amounting to less than 0.01%, less than
0.01%, 0.02%, 0.02% and 0.01% for the fiscal years ended
October
31, 2023, 2022, 2021, 2020 and 2019,
respectively. |
6 |
Excludes
the impact of expense reimbursement or fee waivers and expense
reductions such as brokerage credits, but includes expense repayments
and
non-reimbursable expenses, if any, such as interest, taxes, and
extraordinary expenses. |
7 |
Less
than $0.005 per share. |
8 |
Less
than (0.005)%. |