Release Date: 12-31-2024

Invesco Stable Value Retirement - CL1

..........................................................................................................................................................................................................................................................................................................................................
Benchmark Morningstar Category
USTREAS T-Bill Cnst Mat Rate 3 Yr Stable Value

Investment Information Performance as of 12-31-24

Investment Objective & Strategy Trailing Returns YTD 1 Year 3 Year 5 Year 10 Year Since Inception
The primary investment objective of the Fund is to seek Fund Return % 2.92 2.92 2.49 2.26 2.15 1.99
the preservation of principal and to provide interest income Benchmark Return % 3.52 3.52 0.67 0.95 1.13 0.98
reasonably obtained under prevailing market conditions and .........................................................................................................................................................................................................................................
rates, consistent with seeking to maintain required liquidity. Average annual, if greater than 1 year

Fees and Expenses as of 12-31-24 The performance data contained herein represents past performance, which does not guarantee future results. Investment
return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost.
Gross Expense Ratio 0.30%
Current performance may be lower or higher than the performance data quoted.
Redemption Fee/Term —
All total returns assume the reinvestment of all dividend and capital gain distributions at net asset value when
paid and do not reflect the deduction of any sales charges, as these charges are not applicable to eligible 401(k) plans.
Operations and Management Had the sales charge been deducted, results would have been lower than shown. Please note that there are other charges
Fund Inception Date 12-30-10 and expenses that apply to the investment options, such as management fees, which are reflected in their net investment
Issuer Invesco Advisers, Inc return.
Management Company Invesco Trust Company For certain investment options, the returns reflect subsidies and waivers, without which the results would have
been lower than noted. These subsidies and waivers may not continue to remain in effect.
Investors should consider the investment objectives, risks, charges and expenses of the investment options
Volatility Analysis carefully before investing.
Investment Although the fund seeks to maintain a stable value, this investment option may experience fluctuations in its net
Low Moderate High asset value.

Portfolio Analysis Notes

In the past, this investment has shown a relatively small
Composition as of 12-31-24 This investment option is not a mutual fund, registered under
range of price fluctuations relative to other investments. Asset % Assets the Investment Company Act of 1940. A prospectus is not
Based on this measure, currently more than two-thirds of all U.S. Stocks 0.0
available and shares are not publicly traded or listed on
investments have shown higher levels of risk. Consequently, Non-U.S. Stocks 0.0
exchanges.
this investment may appeal to investors looking for a Bonds 0.0
conservative investment strategy. Cash 0.0
Risk
Other 100.0
Lending, Credit and Counterparty, Extension, Inflation/
Deflation, Inflation-Protected Securities, Prepayment (Call),
.......................................................................................................
Reinvestment, Long-Term Outlook and Projections, Loss
Annual Turnover Ratio % 18.00
of Money, Not FDIC Insured, Active Management,
High Portfolio Turnover, Income, Index Correlation/Tracking
Morningstar Style Box™ as of 12-31-24
Error, Issuer, Interest Rate, Market/Market Volatility,
Bank Loans, Futures, IPO, Mortgage-Backed and Asset-
High

Backed Securities, Repurchase Agreements, Restricted/

Med

Illiquid Securities, Underlying Fund/Fund of Funds, U.S. Federal

Tax Treatment, U.S. Government Obligations, Derivatives,
Low

Leverage, Pricing, Fixed-Income Securities, Dollar Rolls,

Ltd Mod Ext Maturity/Duration, Regulation/Government Intervention, Cash
Drag, Suitability, Increase in Expenses, Multimanager,
Shareholder Activity, Conflict of Interest, Investment-
Grade Securities, Management, OTC, Swaps, Variable-Rate
Securities, Replication Management

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
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Definitions and Investment Risks
The information presented is based on the most current sensitivity categories - "Limited", "Moderate", and "Extensive"; average effective duration value 125% or greater of the
information provided by the fund’s management company as resulting in nine possible combinations. As in the Equity Style average effective duration of the MCBI will be classified as
listed on the Investment Profile Page. The information Box, the combination of credit and interest rate sensitivity for “Extensive”.
presented may not reflect current holdings and performance a portfolio is represented by a darkened square in the matrix.
as a result of changes effected by the management company Morningstar uses credit rating information from credit rating Average Effective Duration: A measure of a fund's
since the "as of" date. The information presented may not agencies (CRAs) that have been designated Nationally interest-rate sensitivity -- The longer a fund's duration, the
reflect market events or conditions that have occurred since Recognized Statistical Rating Organizations (NRSROs) by the more sensitive the fund is to shift in interest rates. Duration is
the "as of" date that may have negatively impacted the Securities and Exchange Commission (SEC) in the United determined by a formula that includes coupon rates and bond
performance of the investment option. States. For a list of all NRSROs, please visit https:// maturities. Small coupons tend to increase duration, while
www.sec.gov/ocr/ocr-current-nrsros.html. Additionally, shorter maturities and higher coupons shorten duration. A
The accuracy, integrity, completeness and timeliness of the Morningstar will use credit ratings from CRAs which have fund with a duration of 10 years is twice as volatile as a fund
Investment Profile Page is not guaranteed. The Investment been recognized by foreign regulatory institutions that are with a five-year duration.
Profile Page is provided "as is." deemed the equivalent of the NRSRO designation. To
determine the rating applicable to a holding and the Average Effective Maturity: This figure is computed by
DEFINITIONS subsequent holding weighted value of a portfolio two weighting the maturity of each security in the portfolio by the
methods may be employed. First is a common methodology market value of the security, then averaging these weighted
Short Term Performance: For funds with less than one approach where if a case exists such that two CRAs have figures.
year of fund performance: Please note that there are rated a holding, the lower rating of the two should be applied;
limitations when viewing short-term performance results and if three or more CRAs have rated a holding, the median rating Average Weighted Price: Morningstar generates this
this performance may not be achieved over longer time should be applied; and in cases where there are more than figure from the fund's portfolio by weighting the price of each
periods. two ratings and a median rating cannot be determined, the bond by its relative size in the portfolio. This number reveals if
lower of the two middle ratings should be applied. the fund favors bonds selling at prices above or below face
Expense Ratio: The expense ratio is the annual fee that all Alternatively, if there is more than one rating available an value (premium or discount securities, respectively). A higher
funds charge their shareholders. It expresses the percentage average can be calculated from all and applied. number indicates a bias toward premiums. This statistic is
of assets deducted each fiscal year for fund expenses, expressed as a percentage of par (face) value.
including 12b-1 fees, management fees, administrative fees, PLEASE NOTE: Morningstar, Inc. is not an NRSRO nor
operating costs, and all other asset-based costs incurred by does it issue a credit rating on the fund. Credit ratings Composition: For funds that invest in derivatives and for
the fund. Portfolio transaction fees, or brokerage costs, as for any security held in a portfolio can change over funds that are involved in short-selling, a bar chart is used to
well as front-end or deferred sales charges are not included time. show the long and short positions of each investment class.
in the expense ratio. The expense ratio, which is deducted It also displays the overall net percentage of each investment
from the fund's average net assets, is accrued on a daily Morningstar uses the credit rating information to calculate a class. A Fund's use of derivative instruments and short selling
basis. The gross expense ratio, in contrast to the net expense weighted-average credit quality value for the portfolio. This involves risks different from, or possibly greater than, the
ratio, does not reflect any fee waivers in effect during the value is based only upon those holdings which are considered risks associated with investing directly in or holding a long
time period. to be classified as "fixed income", such a government, position in a security. If the fund does not invest in derivatives
corporate, or securitized issues. Other types of holdings such or does not hold a short position, a pie chart will show the
Redemption Fee/Term: Please be aware that certain funds as equities and many, though not all, types of derivatives are overall percentage of assets in each investment class.
will charge redemption fees for short-term trading and/or excluded. The weighted-average credit quality value is
require specific holding periods which are imposed by the represented by a rating symbol which corresponds to the Assets % in Top 10 Holdings: The aggregate market
mutual fund companies, as reported in the fund's most recent long-term rating symbol schemas employed by most CRAs. value, expressed as a percentage, of the fund's top 10
prospectus. Actual fees/holding periods may differ as a result Note that this value is not explicitly published but instead portfolio holdings in relation to its total market value. This
of agreements between the mutual fund companies and serves as an input in the Style Box calculation. This symbol is figure is meant to be a measure of portfolio risk. Specifically,
intermediaries that hold shares on behalf of other investors. then used to map to a Style Box credit quality category of the higher the percentage, the more concentrated the fund is
The fund's returns will not reflect such fees, and if they had “low,” “medium,” or “high”. Funds with a "low" credit quality in a few companies or issues, and the more the fund is
been reflected, results would have been lower than shown. category are those whose weighted-average credit quality is susceptible to the market fluctuations in these few holdings.
determined to be equivalent to the commonly used High Yield The calculation is limited to long positions only which can
Benchmark Returns: The market indexes presented are classification, meaning a rating below "BBB", portfolios result in values greater than 100%. Additionally, cash and
unmanaged and considered representative of specific assigned to the "high" credit category have either a "AAA" or cash equivalents are not included in this calculation.
segments of the markets. Index performance is not "AA+" average credit quality value, while "medium" are those
illustrative of the fund's performance and past returns are not with an average rating of “AA-“ inclusive to "BBB-". It is Volatility Analysis: Morningstar classifies investment
indicative of future results. Indexes are not available for direct expected and intended that the majority of portfolios will be portfolios as having one of three volatility levels relative to all
investment and may assume the reinvestment of dividends, assigned a credit category of "medium". types of mutual funds based on the fund's standard deviation:
interest and/or capital gains, if applicable. Index returns are Low (1-33), Moderate (34-66), and High (67-99).
not subject to the charges and expenses that may otherwise For assignment to an interest-rate sensitivity category, Investments with wider ranges of returns are labeled "high,"
be applicable to the investment options available in your plan. Morningstar uses the average effective duration of the as they are considered riskier than "low" volatility
portfolio. From this value there are three distinct investments, which have had smaller ranges of returns.
Morningstar Category: In an effort to distinguish funds by methodologies employed to determine assignment to Morningstar also shows where the portfolio's category lands.
what they own, Morningstar developed the Morningstar category. Portfolio which are assigned to Morningstar For portfolios that haven't been in existence for three years,
Categories. The Morningstar Category identifies funds based municipal-bond categories employ static breakpoints only the category average will be displayed. Money market
on their actual investment styles as measured by their between categories. These breakpoints are: "Limited" equal categories are not depicted.
underlying portfolio holdings (portfolio and other statistics to 4.5 years or less, "Moderate" equal to 4.5 years to less
over the past three years). than 7 years; and "Extensive" equal to more than 7 years. For Standard Deviation: Standard deviation measures the
portfolios assigned to Morningstar categories other than U.S. volatility of a fund's historical returns. When a fund has a high
Morningstar Category Average Performance: The Taxable, including all domiciled outside the United States, standard deviation, its range of performance has been very
Morningstar Category Averages are calculated by static duration breakpoints are also used: "Limited" equals wide, indicating greater potential for volatility. A more volatile
Morningstar and represent the average total return less than or equal to 3.5 years, "Moderate" equals greater fund will have a greater difference between its highest
performance of mutual funds with similar fund classifications. than 3.5 years but less than or equal to 6 years, and historical return and its lowest historical return. More volatile
These returns do not reflect the deduction of sales charges. "Extensive" is assigned to portfolios with effective durations funds may be riskier investments.
of more than 6 years.
Morningstar Style Box™: The Morningstar Style Box P/E Ratio Price/Earnings: (P/E) Ratio is a stock's current
reveals an investment choice's investment strategy as of the Note: Interest-rate sensitivity for non-U.S. domiciled price divided by the company's trailing 12-month earnings per
date noted on this report. portfolios (excluding those in Morningstar convertible share.
categories) may be assigned using average modified duration
For equity funds, the vertical axis shows the market when average effective duration is not available. P/B Ratio Price/Book: (P/B) Ratio is the weighted average
capitalization of the long stocks owned, and the horizontal of the price/book ratios of all the stocks in a portfolio.
axis shows the investment style (value, blend, or growth). A For portfolios Morningstar classifies as U.S. Taxable Fixed-
darkened cell in the style box matrix indicates the weighted Income, interest-rate sensitivity category assignment is P/C Ratio Price/Cash: (P/C) Ratio represents the weighted
average style of the portfolio. based on the effective duration of the Morningstar Core Bond average of the price/cash-flow ratios of the stocks in a
Index (MCBI). The classification assignment is dynamically portfolio.
For portfolios holding fixed-income investments, a Fixed determined relative to the benchmark index value. A
Income Style Box is calculated. The vertical axis shows the “Limited” category will be assigned to portfolios whose GeoAvgCap: Geometric Average Cap is the geometric mean
credit quality based on credit ratings and the horizontal axis average effective duration is between 25% to 75% of MCBI of the market capitalization for all of the stocks the portfolio
shows interest-rate sensitivity as measured by effective average effective duration, where the average effective owned.
duration. There are three credit categories - "High", duration is between 75% to 125% of the MCBI the portfolio
"Medium", and "Low"; and there are three interest rate will be classified as “Moderate”, and those portfolios with an Special Note on Bond Funds: Return of principal is not

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
ß
Definitions and Investment Risks
guaranteed. Bond funds have the same interest rate, inflation, generally reflect the risks of owning the underlying securities, services are generally more expensive than they are in the
and credit risks that are associated with the underlying bonds although they may be subject to greater liquidity risk and United States and may have limited regulatory oversight. The
owned by the fund. Generally, the value of bond funds rises higher costs than owning the underlying securities directly investment may have trouble clearing and settling trades in
when prevailing interest rates fall and falls when interest because of their management fees. Shares of CEFs are less-developed markets, and the laws of some countries may
rates rise. There are ongoing fees and expenses associated subject to market trading risk, potentially trading at a limit the investment’s ability to recover its assets in the event
with owning shares of bond funds. premium or discount to net asset value. the bank, depository, or agent holding those assets goes into
bankruptcy.
Special Note on Hedge Funds: Investing in hedge funds Commodity: Investments in commodity-related
involves a high degree of risk, including leveraging strategies instruments are subject to the risk that the performance of Depositary Receipts: Investments in depositary receipts
and other speculative investment practices in all types of the overall commodities market declines and that weather, generally reflect the risks of the securities they represent,
markets that may increase the risk of investment loss, disease, political, tax, and other regulatory developments although they may be subject to increased liquidity risk and
including the principal value invested. Investments may be adversely impact the value of commodities, which may result higher expenses and may not pass through voting and other
highly illiquid and subject to limitations in providing periodic in a loss of principal and interest. Commodity-linked shareholder rights. Depositary receipts cannot be directly
pricing and performance valuations. Investments may also be investments face increased price volatility and liquidity, credit, exchanged for the securities they represent and may trade at
subject to high fees and expenses and can involve complex and issuer risks compared with their underlying measures. either a discount or premium to those securities.
tax structures resulting in delays in distributing important tax
information. Compounding: Because the investment is managed to Derivatives: Investments in derivatives may be subject to
replicate a multiple or inverse multiple of an index over a the risk that the advisor does not correctly predict the
Special Note on Collective Investment Funds and Non single day (or similar short-term period), returns for periods movement of the underlying security, interest rate, market
40-Act Funds: A copy of the funds' annual financial longer than one day will generally reflect performance that is index, or other financial asset, or that the value of the
statements are available upon request from the funds' greater or less than the target in the objective because of derivative does not correlate perfectly with either the overall
trustee. compounding. The effect of compounding increases during market or the underlying asset from which the derivative’s
times of higher index volatility, causing long-term results to value is derived. Because derivatives usually involve a small
INVESTMENT RISKS further deviate from the target objective. investment relative to the magnitude of liquidity and other
risks assumed, the resulting gain or loss from the transaction
Active Management: The investment is actively managed Conflict of Interest: A conflict of interest may arise if the will be dispro-portionately magnified. These investments may
and subject to the risk that the advisor’s usage of investment advisor makes an investment in certain underlying funds result in a loss if the counterparty to the transaction does not
techniques and risk analyses to make investment decisions based on the fact that those funds are also managed by the perform as promised.
fails to perform as expected, which may cause the portfolio advisor or an affiliate or because certain underlying funds may
to lose value or underperform investments with similar pay higher fees to the advisor do than others. In addition, an Distressed Investments: Investments in distressed or
objectives and strategies or the market in general. advisor’s participation in the primary or secondary market for defaulted investments, which may include loans, loan
loans may be deemed a conflict of interest and limit the participations, bonds, notes, and issuers undergoing
Amortized Cost: If the deviation between the portfolio’s ability of the investment to acquire those assets. bankruptcy organization, are often not publicly traded and
amortized value per share and its market-based net asset face increased price volatility and liquidity risk. These
value per share results in material dilution or other unfair Convertible Securities: Investments in convertible securities are subject to the risk that the advisor does not
results to shareholders, the portfolio’s board will take action securities may be subject to increased interest-rate risks, correctly estimate their future value, which may result in a
to counteract these results, including potentially suspending rising in value as interest rates decline and falling in value loss of part or all of the investment.
redemption of shares or liquidating the portfolio. when interest rates rise, in addition to their market value
depending on the performance of the common stock of the Dollar Rolls: Dollar rolls transactions may be subject to the
Asset Transfer Program: The portfolio is subject to unique issuer. Convertible securities, which are typically unrated or risk that the market value of securities sold to the
risks because of its use in connection with certain guaranteed rated lower than other debt obligations, are secondary to counterparty declines below the repurchase price, the
benefit programs, frequently associated with insurance debt obligations in order of priority during a liquidation in the counterparty defaults on its obligations, or the portfolio
contracts. To fulfill these guarantees, the advisor may make event the issuer defaults. turnover rate increases because of these transactions. In
large transfers of assets between the portfolio and other addition, any investments purchased with the proceeds of a
affiliated portfolios. These transfers may subject the Country or Region: Investments in securities from a security sold in a dollar rolls transaction may lose value.
shareholder to increased costs if the asset base is particular country or region may be subject to the risk of
substantially reduced and may cause the portfolio to have to adverse social, political, regulatory, or economic events Early Close/Late Close/Trading Halt: The investment
purchase or sell securities at inopportune times. occurring in that country or region. Country- or region-specific may be unable to rebalance its portfolio or accurately price its
risks also include the risk that adverse securities markets or holdings if an exchange or market closes early, closes late, or
Bank Loans: Investments in bank loans, also known as exchange rates may impact the value of securities from those issues trading halts on specific securities or restricts the
senior loans or floating-rate loans, are rated below- areas. ability to buy or sell certain securities or financial instruments.
investment grade and may be subject to a greater risk of Any of these scenarios may cause the investment to incur
default than are investment-grade loans, reducing the Credit and Counterparty: The issuer or guarantor of a substantial trading losses.
potential for income and potentially leading to impairment of fixed-income security, counterparty to an over-the-counter
the collateral provided by the borrower. Bank loans pay derivatives contract, or other borrower may not be able to Emerging Markets: Investments in emerging- and frontier-
interest at rates that are periodically reset based on changes make timely principal, interest, or settlement payments on an markets securities may be subject to greater market, credit,
in interest rates and may be subject to increased prepayment obligation. In this event, the issuer of a fixed-income security currency, liquidity, legal, political, and other risks compared
and liquidity risks. may have its credit rating downgraded or defaulted, which with assets invested in developed foreign countries.
may reduce the potential for income and value of the
Capitalization: Concentrating assets in stocks of one or portfolio. Equity Securities: The value of equity securities, which
more capitalizations (small, mid, or large) may be subject to include common, preferred, and convertible preferred stocks,
both the specific risks of those capitalizations as well as Credit Default Swaps: Credit default swaps insure the will fluctuate based on changes in their issuers’ financial
increased volatility because stocks of specific capitalizations buyer in the event of a default of a fixed-income security. The conditions, as well as overall market and economic
tend to go through cycles of beating or lagging the market as seller of a credit default swap receives premiums and is conditions, and can decline in the event of deteriorating
a whole. obligated to repay the buyer in the event of a default of the issuer, market, or economic conditions.
underlying creditor. Investments in credit default swaps may
Cash Drag: The portfolio may fail to meet its investment be subject to increased counterparty, credit, and liquidity ETF: Investments in exchange-traded funds ("ETF") generally
objective because of positions in cash and equivalents. risks. reflect the risks of owning the underlying securities they are
designed to track, although they may be subject to greater
Cash Transactions: Redemptions of exchange-traded fund Currency: Investments in securities traded in foreign liquidity risk and higher costs than owning the underlying
shares for cash, rather than in-kind securities, may require currencies or more directly in foreign currencies are subject securities directly because of their management fees. Shares
the portfolio to sell securities. This may increase shareholder to the risk that the foreign currency will decline in value of ETFs are subject to market trading risk, potentially trading
tax liability, potentially through capital gain distributions. relative to the U.S. dollar, which may reduce the value of the at a premium or discount to net asset value.
portfolio. Investments in currency hedging positions are
China Region: Investing in the China region, including Hong subject to the risk that the value of the U.S. dollar will decline ETN: Investments in exchange-traded notes ("ETN") may be
Kong, the People's Republic of China, and Taiwan, may be relative to the currency being hedged, which may result in a subject to the risk that their value is reduced because of poor
subject to greater volatility because of the social, regulatory, loss of money on the investment as well as the position performance of the underlying index or a downgrade in the
and political risks of that region, as well as the Chinese designed to act as a hedge. Cross-currency hedging issuer’s credit rating, potentially resulting in default. The value
government's significant level of control over China’s strategies and active currency positions may increase of these securities may also be impacted by time to maturity,
economy and currency. A disruption of relations between currency risk because actual currency exposure may be level of supply and demand, and volatility and lack of liquidity
China and its neighbors or trading partners could severely substantially different from that suggested by the portfolio’s in underlying markets, among other factors. The portfolio
impact China’s export-based economy. holdings. bears its proportionate share of fees and expenses
associated with investment in ETNs, and its decision to sell
Closed-End Fund: Investments in closed-end funds ("CEF") Custody: Foreign custodial and other foreign financial these holdings may be limited by the availability of a

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
ß
Definitions and Investment Risks
secondary market. capital gains, creating potential tax liability even if an investor commissions and transaction costs. Additionally, IPO shares
does not sell any shares during the year. are subject to increased market, liquidity, and issuer risks.
Event-Driven Investment/Arbitrage Strategies:
Arbitrage strategies involve investment in multiple securities High-Yield Securities: Investments in below-investment- Issuer: A stake in any individual security is subject to the
with the expectation that their prices will converge at an grade debt securities and unrated securities of similar credit risk that the issuer of that security performs poorly, resulting
expected value. These strategies face the risk that the quality, commonly known as “junk bonds” or “high-yield in a decline in the security’s value. Issuer-related declines
advisor's price predictions will not perform as expected. securities,” may be subject to increased interest, credit, and may be caused by poor management decisions, competitive
Investing in event-driven or merger arbitrage strategies may liquidity risks. pressures, technological breakthroughs, reliance on suppliers,
not be successful if the merger, restructuring, tender offer, or labor problems or shortages, corporate restructurings,
other major corporate event proposed or pending at the time Income: The investment’s income payments may decline fraudulent disclosures, or other factors. Additionally, certain
of investment is not completed on the terms contemplated. depending on fluctuations in interest rates and the dividend issuers may be more sensitive to adverse issuer, political,
payments of its underlying securities. In this event, some regulatory, market, or economic developments.
Extension: The issuer of a security may repay principal investments may attempt to pay the same dividend amount
more slowly than expected because of rising interest rates. In by returning capital. Large Cap: Concentrating assets in large-capitalization
this event, short- and medium-duration securities are stocks may subject the portfolio to the risk that those stocks
effectively converted into longer-duration securities, Increase in Expenses: The actual cost of investing may underperform other capitalizations or the market as a whole.
increasing their sensitivity to interest-rate changes and be higher than the expenses listed in the expense table for a Large-cap companies may be unable to respond as quickly as
causing their prices to decline. variety of reasons, including termination of a voluntary fee small- and mid-cap companies can to new competitive
waiver or losing portfolio fee breakpoints if average net pressures and may lack the growth potential of those
Financials Sector: Concentrating assets in the financials assets decrease. The risk of expenses increasing because of securities. Historically, large-cap companies do not recover as
sector may disproportionately subject the portfolio to the a decrease in average net assets is heightened when quickly as smaller companies do from market declines.
risks of that industry, including loss of value because of markets are volatile.
economic recession, availability of credit, volatile interest Lending: Investing in loans creates risk for the borrower,
rates, government regulation, and other factors. Index Correlation/Tracking Error: A portfolio that tracks lender, and any other participants. A borrower may fail to
an index is subject to the risk that certain factors may cause make payments of principal, interest, and other amounts in
Fixed-Income Securities: The value of fixed-income or the portfolio to track its target index less closely, including if connection with loans of cash or securities or fail to return a
debt securities may be susceptible to general movements in the advisor selects securities that are not fully representative borrowed security in a timely manner, which may lead to
the bond market and are subject to interest-rate and credit of the index. The portfolio will generally reflect the impairment of the collateral provided by the borrower.
risk. As a special note on bond funds, return of principal is not performance of its target index even if the index does not Investments in loan participations may be subject to
guaranteed and there are ongoing fees and expenses perform well, and it may underperform the index after increased credit, pricing, and liquidity risks, with these risks
associated with owning shares of bond funds. The market factoring in fees, expenses, transaction costs, and the size intensified for below investment-grade loans.
value of bond funds tends to rise when prevailing interest and timing of shareholder purchases and redemptions.
rates fall and falls when interest rates rise. Leverage: Leverage transactions may increase volatility
Industry and Sector Investing: Concentrating assets in a and result in a significant loss of value if a transaction fails.
Foreign Securities: Investments in foreign securities may particular industry, sector of the economy, or markets may Because leverage usually involves investment exposure that
be subject to increased volatility as the value of these increase volatility because the investment will be more exceeds the initial investment, the resulting gain or loss from
securities can change more rapidly and extremely than can susceptible to the impact of market, economic, regulatory, a relatively small change in an underlying indicator will be
the value of U.S. securities. Foreign securities are subject to and other factors affecting that industry or sector compared disproportionately magnified.
increased issuer risk because foreign issuers may not with a more broadly diversified asset allocation.
experience the same degree of regulation as U.S. issuers do Long-Term Outlook and Projections: The investment is
and are held to different reporting, accounting, and auditing Inflation/Deflation: A change of asset value may occur intended to be held for a substantial period of time, and
standards. In addition, foreign securities are subject to because of inflation or deflation, causing the portfolio to investors should tolerate fluctuations in their investment’s
increased costs because there are generally higher underperform. Inflation may cause the present value of future value.
commission rates on transactions, transfer taxes, higher payments to decrease, causing a decline in the future value
custodial costs, and the potential for foreign tax charges on of assets or income. Deflation causes prices to decline Loss of Money: Because the investment’s market value
dividend and interest payments. Many foreign markets are throughout the economy over time, impacting issuers’ may fluctuate up and down, an investor may lose money,
relatively small, and securities issued in less-developed creditworthiness and increasing their risk for default, which including part of the principal, when he or she buys or sells
countries face the risks of nationalization, expropriation or may reduce the value of the portfolio. the investment.
confiscatory taxation, and adverse changes in investment or
exchange control regulations, including suspension of the Inflation-Protected Securities: Unlike other fixed-income Management: Performance is subject to the risk that the
ability to transfer currency from a country. Economic, political, securities, the values of inflation-protected securities are not advisor's asset allocation and investment strategies do not
social, or diplomatic developments can also negatively impact significantly impacted by inflation expectations because their perform as expected, which may cause the portfolio to
performance. interest rates are adjusted for inflation. Generally, the value of underperform its benchmark, other investments with similar
inflation-protected securities will fall when real interest rates objectives, or the market in general. The investment is
Forwards: Investments in forwards may increase volatility rise and rise when real interest rates fall. subject to the risk of loss of income and capital invested, and
and be subject to additional market, active management, the advisor does not guarantee its value, performance, or any
currency, and counterparty risks as well as liquidity risk if the Interest Rate: Most securities are subject to the risk that particular rate of return.
contract cannot be closed when desired. Forwards purchased changes in interest rates will reduce their market value.
on a when-issued or delayed-delivery basis may be subject to Market Trading: Because shares of the investment are
risk of loss if they decline in value prior to delivery, or if the Intraday Price Performance: The investment is traded on the secondary market, investors are subject to the
counterparty defaults on its obligation. rebalanced according to the investment objective at the end risks that shares may trade at a premium or discount to net
of the trading day, and its reported performance will reflect asset value. There is no guarantee that an active trading
Futures: Investments in futures contracts and options on the closing net asset value. A purchase at the intraday price market for these shares will be maintained.
futures contracts may increase volatility and be subject to may generate performance that is greater or less than
additional market, active management, interest, currency, reported performance. Market/Market Volatility: The market value of the
and other risks if the contract cannot be closed when desired. portfolio’s securities may fall rapidly or unpredictably because
Inverse Floaters: Investments in inverse floaters may be of changing economic, political, or market conditions, which
Growth Investing: Growth securities may be subject to subject to increased price volatility compared with fixed-rate may reduce the value of the portfolio.
increased volatility as the value of these securities is highly bonds that have similar credit quality, redemption provisions,
sensitive to market fluctuations and future earnings and maturity. The performance of inverse floaters tends to lag Master/Feeder: The portfolio is subject to unique risks
expectations. These securities typically trade at higher fixed-rate bonds in rising long-term interest-rate related to the master/feeder structure. Feeder funds bear
multiples of current earnings than do other securities and environments and exceed them in falling or stable long-term their proportionate share of fees and expenses associated
may lose value if it appears their earnings expectations may interest-rate environments. with investment in the master fund. The performance of a
not be met. feeder fund can be impacted by the actions of other feeder
Investment-Grade Securities: Investments in investment- funds, including if a larger feeder fund maintains voting
Hedging Strategies: The advisor's use of hedging grade debt securities that are not rated in the highest rating control over the operations of the master fund or if large-
strategies to reduce risk may limit the opportunity for gains categories may lack the capacity to pay principal and interest scale redemptions by another feeder fund increase the
compared with unhedged investments, and there is no compared with higher-rated securities and may be subject to proportionate share of costs of the master fund for the
guarantee that hedges will actually reduce risk. increased credit risk. remaining feeder funds.

High Portfolio Turnover: Active trading may create high IPO: Investing in initial public offerings ("IPO") may increase Maturity/Duration: Securities with longer maturities or
portfolio turnover, or a turnover of 100% or more, resulting in volatility and have a magnified impact on performance. IPO durations typically have higher yields but may be subject to
increased transaction costs. These higher costs may have an shares may be sold shortly after purchase, which can increased interest-rate risk and price volatility compared with
adverse impact on performance and generate short-term increase portfolio turnover and expenses, including securities with shorter maturities, which have lower yields

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
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Definitions and Investment Risks
but greater price stability. account and is not insured or guaranteed by the current market price.
Federal Deposit Insurance Corporation or any other
Mid-Cap: Concentrating assets in mid-capitalization stocks government agency. The Fund’s sponsor is not required OTC: Investments traded and privately negotiated in the
may subject the portfolio to the risk that those stocks to reimburse the Fund for losses, and you should not over-the-counter ("OTC") market, including securities and
underperform other capitalizations or the market as a whole. expect that the sponsor will provide financial support derivatives, may be subject to greater price volatility and
Mid-cap companies may be subject to increased liquidity risk to the Fund at any time, including during periods of liquidity risk than transactions made on organized exchanges.
compared with large-cap companies and may experience market stress. Because the OTC market is less regulated, OTC transactions
greater price volatility than do those securities because of may be subject to increased credit and counterparty risk.
more-limited product lines or financial resources, among Money Market Fund Ownership: An investment in a
other factors. money market fund is not a deposit in a bank and is not Other: The investment’s performance may be impacted by
guaranteed by the FDIC, any other governmental agency, or its concentration in a certain type of security, adherence to a
MLP: Investments in master limited partnerships ("MLP") the advisor itself. Money market funds report investment particular investing strategy, or a unique aspect of its
may be subject to the risk that their value is reduced because characteristics in SEC Form N-MFP. Institutional money structure and costs.
of poor performance of the underlying assets or if they are market funds have a net asset value that may fluctuate on a
not treated as partnerships for federal income tax purposes. day-to-day basis in ordinary conditions. All are subject to the Passive Management: The investment is not actively
Investors in MLPs have more-limited control and voting rights risk that they may not be able to maintain a stable NAV of managed, and the advisor does not attempt to manage
on matters affecting the partnership compared with $1.00 per share. Money market funds may opt to maintain volatility or take defensive positions in declining markets. This
shareholders of common stock. liquidity through imposing fees on certain redemptions or a passive management strategy may subject the investment to
suspension of redemptions because of market conditions. greater losses during general market declines than actively
Money Market: The risks pertaining to money market Only exempt government money market funds are permitted managed investments.
funds, those in compliance with Rule 2a-7 under the to opt out of incorporating these liquidity maintenance
Investment Company Act of 1940, vary depending on the measures to support the stable share price of $1.00. Portfolio Diversification: Investments that concentrate
fund’s operations as reported in SEC Form N-MFP. Institutional their assets in a relatively small number of issuers, or in the
money market funds are considered those that are required Mortgage-Backed and Asset-Backed Securities: securities of issuers in a particular market, industry, sector,
to transact at a floating net asset value. These funds can Investments in mortgage-backed ("MBS") and asset-backed country, or asset class, may be subject to greater risk of loss
experience capital gains and losses in normal conditions just securities ("ABS") may be subject to increased price volatility than is a more widely diversified investment.
like other mutual funds. Additionally, most institutional, because of changes in interest rates, issuer information
government, and retail money market funds may impose a availability, credit quality of the underlying assets, market Preferred Stocks: Investments in preferred stocks may be
fee upon the sale of your shares, or may suspend your ability perception of the issuer, availability of credit enhancement, subject to the risks of deferred distribution payments,
to sell shares if the fund’s liquidity falls below required and prepayment of principal. The value of ABS and MBS may involuntary redemptions, subordination to debt instruments, a
minimums, because of market conditions or other factors. be adversely affected if the underlying borrower fails to pay lack of liquidity compared with common stocks, limited voting
While retail and government funds electing to maintain the loan included in the security. rights, and sensitivity to interest-rate changes.
liquidity through suspending redemptions or imposing fees
attempt to preserve the value of shares at $1.00, the funds Multimanager: Managers’ individual investing styles may Prepayment (Call): The issuer of a debt security may be
cannot guarantee they will do so. Some government money not complement each other. This can result in both higher able to repay principal prior to the security’s maturity
market funds have not elected to permit liquidity fees or portfolio turnover and enhanced or reduced concentration in a because of an improvement in its credit quality or falling
suspend redemptions. Although these funds also seek to particular region, country, industry, or investing style interest rates. In this event, this principal may have to be
preserve the value of investments at $1.00 per share, they compared with an investment with a single manager. reinvested in securities with lower interest rates than the
cannot guarantee they will do so. An investment in any original securities, reducing the potential for income.
money market fund is not insured or guaranteed by the Municipal Obligations, Leases, and AMT-Subject
Federal Deposit Insurance Corporation or any other Bonds: Investments in municipal obligations, leases, and Pricing: Some investments may not have a market
government agency and can result in a loss of money. The private activity bonds subject to the alternative minimum tax observed price; therefore, values for these assets may be
fund’s sponsor has no legal obligation to provide financial have varying levels of public and private support. The principal determined through a subjective valuation methodology. Fair
support to the fund, and you should not expect that the and interest payments of general-obligation municipal bonds values determined by a subjective methodology may differ
sponsor will provide financial support to the fund at any time. are secured by the issuer’s full faith and credit and supported from the actual value realized upon sale. Valuation
by limited or unlimited taxing power. The principal and methodologies may also be used to calculate a daily net
Non-Government Money Market and Non-Retail Money interest payments of revenue bonds are tied to the revenues asset value.
Market Funds: You could lose money by investing in of specific projects or other entities. Federal income tax laws
the Fund. Because the share price of the Fund will may limit the types and volume of bonds qualifying for tax Quantitative Investing: Holdings selected by quantitative
fluctuate, when you sell your shares they may be exemption of interest and make any further purchases of tax- analysis may perform differently from the market as a whole
worth more or less than what you originally paid for exempt securities taxable. based on the factors used in the analysis, the weighting of
them. The Fund may impose a fee upon sale of your each factor, and how the factors have changed over time.
shares. The Fund generally must impose a fee when Municipal Project-Specific: Investments in municipal
net sales of Fund shares exceed certain levels. An bonds that finance similar types of projects, including those Real Estate/REIT Sector: Concentrating assets in the real
investment in the Fund is not a bank account and is not related to education, health care, housing, transportation, estate sector or REITs may disproportionately subject the
insured or guaranteed by the Federal Deposit utilities, and industry, may be subject to a greater extent than portfolio to the risks of that industry, including loss of value
Insurance Corporation or any other government general obligation municipal bonds to the risks of adverse because of changes in real estate values, interest rates, and
agency. The Fund’s sponsor is not required to economic, business, or political developments. taxes, as well as changes in zoning, building, environmental,
reimburse the Fund for losses, and you should not and other laws, among other factors. Investments in REITs
expect that the sponsor will provide financial support New Fund: Investments with a limited history of operations may be subject to increased price volatility and liquidity risk,
to the Fund at any time, including during periods of may be subject to the risk that they do not grow to an and shareholders indirectly bear their proportionate share of
market stress. economically viable size in order to continue operations. expenses because of their management fees.

Government Money Market Funds that have chosen to Nondiversification: A nondiversified investment, as Regulation/Government Intervention: The business of
rely on the ability to impose liquidity fees and Retail defined under the Investment Act of 1940, may have an the issuer of an underlying security may be adversely
Money Market Funds: You could lose money by increased potential for loss because its portfolio includes a impacted by new regulation or government intervention,
investing in the Fund. Although the Fund seeks to relatively small number of investments. Movements in the impacting the price of the security. Direct government
preserve the value of your investment at $1.00 per prices of the individual assets may have a magnified effect on ownership of distressed assets in times of economic
share, it cannot guarantee it will do so. The Fund may a nondiversified portfolio. Any sale of the investment’s large instability may subject the portfolio’s holdings to increased
impose a fee upon sale of your shares. An investment positions could adversely affect stock prices if those positions price volatility and liquidity risk.
in the Fund is not bank account and is not insured or represent a significant part of a company’s outstanding stock.
guaranteed by the Federal Deposit Insurance Reinvestment: Payments from debt securities may have to
Corporation or any other government agency. The Not FDIC Insured: The investment is not a deposit or be reinvested in securities with lower interest rates than the
Fund’s sponsor is not required to reimburse the Fund obligation of, or guaranteed or endorsed by, any bank and is original securities.
for losses, and you should not expect that the sponsor not insured by the Federal Deposit Insurance Corporation, the
will provide financial support to the Fund at any time, Federal Reserve Board, or any other U.S. governmental Reliance on Trading Partners: Investments in economies
including during periods of market stress. agency. that depend heavily on trading with key partners may be
subject to the risk that any reduction in this trading may
Government Money Market Funds that have chosen Options: Investments in options may be subject to the risk adversely impact these economies.
not to rely on the ability to impose liquidity fees: You that the advisor does not correctly predict the movement of
could lose money by investing in the Fund. Although an option’s underlying stock. Option purchases may result in Replication Management: The investment does not seek
the Fund seeks to preserve the value of your the loss of part or all of the amount paid for the option plus investment returns in excess of the underlying index.
investment at $1.00 per share, it cannot guarantee it commission costs. Option sales may result in a forced sale or Therefore, it will not generally sell a security unless it was
will do so. An investment in the Fund is not a bank purchase of a security at a price higher or lower than its removed from the index, even if the security’s issuer is in

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
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Definitions and Investment Risks
financial trouble. on days and times when foreign exchanges are closed.
Target Date: Target-date funds, also known as lifecycle
Repurchase Agreements: Repurchase agreements may funds, shift their asset allocation to become increasingly Value Investing: Value securities may be subject to the
be subject to the risk that the seller of a security defaults and conservative as the target retirement year approaches, which risk that these securities cannot overcome the adverse
the collateral securing the repurchase agreement has is the approximate date when an investor plans to start factors the advisor believes are responsible for their low price
declined and does not equal the value of the repurchase withdrawing the assets from their retirement account. Still, or that the market may not recognize their fundamental value
price. In this event, impairment of the collateral may result in investment in target-date funds may lose value near, at, or as the advisor predicted. Value securities are not expected to
additional costs. after the target retirement date, and there is no guarantee experience significant earnings growth and may
they will provide adequate income at retirement. underperform growth stocks in certain markets.
Restricted/Illiquid Securities: Restricted and illiquid
securities may fall in price because of an inability to sell the Tax Management: A tax-sensitive investment strategy Variable-Rate Securities: Investments in variable-rate
securities when desired. Investing in restricted securities may that uses hedging or other techniques may fail to limit securities, which periodically adjust the interest-rate paid on
subject the portfolio to higher costs and liquidity risk. distributions of taxable income and net realized gains and the securities, may be subject to greater liquidity risk than are
therefore create some tax liability for shareholders. other fixed-income securities. Because variable-rate
Sampling: Although the portfolio tracks an index, it securities are subject to less interest-rate risk than other
maintains a smaller number of holdings than does the index. Tax Risk: Investors may be liable to pay state and federal fixed-income securities, their opportunity to provide capital
Use of this representative sampling approach may lead the taxes on income and capital gains distributions paid out by appreciation is comparatively reduced.
portfolio to track the index less closely. the investment.
Warrants: Investments in warrants may be subject to the
Shareholder Activity: Frequent purchases or redemptions Tax-Exempt Securities: Tax-exempt securities could be risk that the price of the underlying stock does not rise above
by one or multiple investors may harm other shareholders by reclassified as taxable by the IRS or a state tax authority, or the exercise price. In this event, the warrant may expire
interfering with the efficient management of the portfolio, their income could be reclassified as taxable by a future without being exercised and lose all value.
increasing brokerage and administrative costs and potentially legislative, administrative, or court action. This may result in
diluting the value of shares. Additionally, shareholder increased tax liability as interest from a security becomes Zero-Coupon Bond: Investments in zero-coupon bonds,
purchase and redemption activity may have an impact on the taxable, and such reclassifications could be applied which do not pay interest prior to maturity, may be subject to
per-share net income and realized capital gains distribution retroactively. greater price volatility and liquidity risks than are fixed-income
amounts, if any, potentially increasing or reducing the tax securities that pay interest periodically. Still, interest accrued
burden on the shareholders who receive those distributions. Technology Sector: Concentrating assets in the on these securities prior to maturity is reported as income
technology sector may disproportionately subject the portfolio and distributed to shareholders.
Short Sale: Selling securities short may be subject to the to the risks of that industry, including loss of value because of
risk that an advisor does not correctly predict the movement intense competitive pressures, short product cycles,
of the security, resulting in a loss if a security must be dependence on intellectual property rights, legislative or
purchased on the market above its initial borrowing price to regulatory changes, and other factors.
return to the lender, in addition to interest paid to the lender
for borrowing the security. Temporary Defensive Measures: Temporary defensive
positions may be used during adverse economic, market, or
Small Cap: Concentrating assets in small-capitalization other conditions. In this event, up to 100% of assets may be
stocks may subject the portfolio to the risk that those stocks allocated to securities, including cash and cash equivalents
underperform other capitalizations or the market as a whole. that are normally not consistent with the investment
Smaller, less-seasoned companies may be subject to objective.
increased liquidity risk compared with mid- and large-cap
companies and may experience greater price volatility than U.S. Federal Tax Treatment: Changes in the tax
do those securities because of limited product lines, treatment of dividends, derivatives, foreign transactions, and
management experience, market share, or financial other securities may have an impact on performance and
resources, among other factors. potentially increase shareholder liability. Additionally, this
includes the risk that the fund fails to qualify as a regulated
Socially Conscious: Adhering to social, moral, or investment company, potentially resulting in a significantly
environmental criteria may preclude potentially profitable higher level of taxation.
opportunities in sectors or firms that would otherwise be
consistent with the investment objective and strategy. U.S. Government Obligations: Investments in U.S.
government obligations are subject to varying levels of
Sovereign Debt: Investments in debt securities issued or government support. In the event of default, some U.S.
guaranteed by governments or governmental entities are government securities, including U.S. Treasury obligations and
subject to the risk that an entity may delay or refuse to pay Ginnie Mae securities, are issued and guaranteed as to
interest or principal on its sovereign debt because of cash principal and interest by the full faith and credit of the U.S.
flow problems, insufficient foreign reserves, or political or government. Other securities are obligations of U.S.
other considerations. In this event, there may be no legal government-sponsored entities but are neither issued nor
process for collecting sovereign debts that a governmental guaranteed by the U.S. government.
entity has not repaid.
U.S. State or Territory-Specific: Investments in the
Structured Products: Investments in structured products municipal securities of a particular state or territory may be
may be more volatile, less liquid, and more difficult to price subject to the risk that changes in the economic conditions of
than other assets. These securities bear the risk of the that state or territory will negatively impact performance.
underlying investment as well as counterparty risk.
Securitized structured products including collateralized Underlying Fund/Fund of Funds: A portfolio’s risks are
mortgage obligations, collateralized debt obligations, and closely associated with the risks of the securities and other
other securitized products may increase volatility and be investments held by the underlying or subsidiary funds, and
subject to increased liquidity and pricing risks compared with the ability of the portfolio to meet its investment objective
investing directly in the assets securitized within the product. likewise depends on the ability of the underlying funds to
Assets invested in structured products may be subject to full meet their objectives. Investment in other funds may subject
loss of value if the counterparty defaults on its obligation. the portfolio to higher costs than owning the underlying
securities directly because of their management fees.
Suitability: Investors are expected to select investments
whose investment strategies are consistent with their Unrated Securities: Investments in unrated securities may
financial goals and risk tolerance. be subject to increased interest, credit, and liquidity risks if
the advisor does not accurately assess the quality of those
Swaps: Investments in swaps, such as interest-rate securities.
swaps, currency swaps and total return swaps, may increase
volatility and be subject to increased liquidity, credit, and Valuation Time: Net asset value ("NAV") is not calculated
counterparty risks. Depending on their structure, swaps may on days and times when the U.S. exchange is closed, though
increase or decrease the portfolio’s exposure to long- or foreign security holdings may still be traded. In this event, the
short-term interest rates, foreign currency values, corporate net asset value may be significantly impacted when
borrowing rates, security prices, index values, inflation rates, shareholders are not able to buy or sell shares. Conversely,
credit, or other factors. performance may vary from the index if the NAV is calculated

©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) ®
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
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Definitions and Investment Risks

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©2025 Morningstar, Inc. Morningstar Investment ProfilesTM. 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2)
may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any
use of information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com
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