Additional Disclosures
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Morningstar™ Methodology
The Morningstar Rating™ for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. It is based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, with more emphasis on downward variations and consistent performance.
Funds are ranked within their Morningstar category, and ratings are assigned as follows:
- Top 10%: 5 stars
- Next 22.5%: 4 stars
- Next 35%: 3 stars
- Next 22.5%: 2 stars
- Bottom 10%: 1 star
The Overall Morningstar Rating™ is a weighted average of the fund's three-, five-, and ten-year (if applicable) ratings, weighted 100% to the three-year rating for funds with only three years of history, 60% five-year and 40% three-year for funds with five years, and 50% ten-year, 30% five-year, and 20% three-year for those with ten years or more.
Ratings do not consider sales loads and are as of the most recent month-end available.
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