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Statistics

CHARACTERISTICS  
as of June 30, 2018 Fund Bloomberg Barclays US MBS Index
AUM (Assets Under Management) $1718.9 Million $5.6 Trillion
Effective Duration 1.12 Years 5.10 Years
Average Life 6.39 Years 7.52 Years
Number of Securities 386 327
Yield to Maturity 4.47% 3.41%
Average Coupon 3.95% 3.54%
Average Price $93.98 $100.51

30 Day SEC Yield (subsidized): 3.68%
30 Day SEC Yield (unsubsidized): 3.68%

30 Day SEC Yield (subsidized): 3.61%
30 Day SEC Yield (unsubsidized): 3.61%

30 Day SEC Yield (subsidized): 3.93%
30 Day SEC Yield (unsubsidized): 3.93%

CLICK HERE FOR STANDARDIZED PERFORMANCE. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 855-736-7799.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Class A Morningstar Rating doesn't take into account the effects of sales charges, loads and redemption fees.

Bloomberg Barclays US MBS Index covers agency mortgage-backed pass-through securities - both fixed-rate and hybrid ARM - issued by Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC). Pool aggregates must have at least $250 million outstanding with a weighted average maturity of at least 1 year. One cannot invest directly in an index.
Effective Duration: Calculation for bonds with cash flow variability. It takes into account that expected cash flows will fluctuate as interest rates change.
Yield To Maturity: Anticipated rate of return on a bond if held until the maturity date
Average Coupon: Market value weighted average of the coupons of each portfolio security

SECTOR ALLOCATION as of June 30, 2018

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Class A Morningstar Rating doesn't take into account the effects of sales charges, loads and redemption fees.

RMBS: Residential Mortgage-Backed Securities; CMBS: Commercial Mortgage-Backed Securities; ABS: Asset-Backed Securities

NON-AGENCY RMBS ALLOCATION as of June 30, 2018

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Class A Morningstar Rating doesn't take into account the effects of sales charges, loads and redemption fees.

Subprime: Non-agency MBS collateralized with mortgages failing to meet agency underwriting standards generally because of weak credit histories of the borrowers.
Prime: Non-agency MBS collateralized with high quality mortgages that generally did not meet the maximum loan size underwriting criteria of the U.S. Government agencies, (GNMA, FNMA and Freddie Mac) but otherwise would qualify for agency guarantees.
NPL: Non-performing Loans; RPL: Re-performing Loans; CRT: Credit Risk Transfer; Prime: Non-agency MBS collateralized with high quality mortgages that generally did not meet the maximum loan size underwriting criteria of the U.S. Government agencies, (GNMA, FNMA and Freddie Mac) but otherwise would qualify for agency guarantees.
Alt-A: Non-agency MBS collateralized with mortgages failing to meet agency underwriting standards due to somewhat weak credit characteristics, incomplete documentation, or other reasons, but generally higher in credit quality than Subprime mortgage credit quality.

CREDIT QUALITY as of June 30, 2018

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Class A Morningstar Rating doesn't take into account the effects of sales charges, loads and redemption fees.

Investment Grade: Credit ratings of AAA, AA, A, and BBB assessed by credit rating agencies.
Below Investment Grade: Credit ratings of BB or lower by credit rating agencies.
Credit quality distribution is determined by using the highest credit rating for each security from Moody's, Standard & Poor's, Fitch Ratings, DBRS, Morningstar and Kroll, six credit rating agencies providing credit assessments for mortgage-backed securities.
Investment Grade: Credit ratings of AAA, AA, A, and BBB assessed by credit rating agencies.
Below Investment Grade: Credit ratings of BB or lower by credit rating agencies.
Credit quality distribution is determined by using the highest credit rating for each security from Moody's, Standard & Poor's, Fitch Ratings, DBRS, Morningstar and Kroll, six credit rating agencies providing credit assessments for mortgage-backed securities.

DURATION as of June 30, 2018

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Class A Morningstar Rating doesn't take into account the effects of sales charges, loads and redemption fees.

Duration: Measure of a bond or bond portfolio's sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.