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    SPDR® Bloomberg Barclays Short Term High Yield Bond ETF SJNK

    Important Risk Disclosure

    NAV

    NAV

    The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

    $25.27

    as of Jul 09 2020

    Base Currency

    USD

    Assets Under Management

    $3,064.80 M

    as of Jul 09 2020

    Gross Expense Ratio

    Gross Expense Ratio

    The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

    0.40%

    Quick Links

    Key Features

    Key Features

    • The SPDR® Bloomberg Barclays Short Term High Yield Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index (the "Index")
    • Seeks to provide diversified exposure to short-term US dollar-denominated high yield corporate bonds
    • Potentially presents less interest rate risk than high yield bonds with longer duration
    • A more cost efficient way to implement a high yield exposure than via individual bonds

    About this Benchmark

    About this Benchmark

    Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index includes short-term publicly issued U.S. dollar-denominated high yield corporate bonds.  High yield securities are generally rated below investment-grade and are commonly referred to as "junk" bonds.  The Index includes publicly issued U.S. dollar denominated, non-investment-grade, fixed rate, taxable corporate bonds that have a remaining maturity of less than 5 years regardless of optionality, are rated between Caa3/ CCC-/CCC- and Ba1/BB+/BB+ using the middle rating of Moody's Investors Service, Inc., Fitch, Inc., or Standard & Poor's, Inc., respectively, and have $350 million or more of issuance.  The Index includes only corporate sectors. The corporate sectors are Industrial, Utility and Financial Institutions.  Excluded from the Index are non-corporate bonds, structured notes with embedded swaps or other special features, bonds with equity-type features (e.g., warrants, convertibility), floating-rate issues, Eurobonds, defaulted bonds, zero coupon bonds and payment in kind securities. The Index is issuer-capped and the securities in the Index are updated on the index rebalancing date.

    Fund Information as of Jul 09 2020

    Fund Information as of Jul 09 2020
    Benchmark Inception Date Options Available Gross Expense Ratio

    Gross Expense Ratio

    The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

    		 Base Currency Investment Manager Management Team
    Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index Mar 14 2012 Yes 0.40% USD SSGA Funds Management, Inc. Global Fixed Income, Cash and Currency
    Benchmark Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index
    Inception Date Mar 14 2012
    Options Available Yes
    Gross Expense Ratio

    Gross Expense Ratio

    The fund's total annual operating expense ratio. It is gross of any fee waivers or expense reimbursements. It can be found in the fund's most recent prospectus.

    		 0.40%
    Base Currency USD
    Investment Manager SSGA Funds Management, Inc.
    Management Team Global Fixed Income, Cash and Currency
    Distributor Distribution Frequency
    State Street Global Advisors Funds Distributors, LLC Monthly
    Distributor State Street Global Advisors Funds Distributors, LLC
    Distribution Frequency Monthly

    Listing Information as of Jul 09 2020

    Listing Information as of Jul 09 2020
    Exchange Listing Date Trading Currency Ticker CUSIP ISIN
    NYSE ARCA EXCHANGE Mar 15 2012 USD SJNK 78468R408 US78468R4083
    Exchange NYSE ARCA EXCHANGE
    Listing Date Mar 15 2012
    Trading Currency USD
    Ticker SJNK
    CUSIP 78468R408
    ISIN US78468R4083

    Fund Characteristics as of Jul 09 2020

    Fund Characteristics as of Jul 09 2020
    Number of Holdings Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    		 Average Maturity in Years

    Average Maturity

    The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

    		 Average Price Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    		 Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    		 Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.
    814 6.08% 3.30 $96.51 7.48% 6.43% 2.12 years
    Number of Holdings 814
    Average Coupon

    Average Coupon

    The [market value] weighted average coupon of the bonds in a portfolio.

    		 6.08%
    Average Maturity in Years

    Average Maturity

    The market value-weighted average maturity of the bonds and loans in a portfolio, where maturity is defined as the stated final for bullet maturity bonds and loans.

    		 3.30
    Average Price $96.51
    Average Yield To Worst

    The lowest potential yield that can be received on a bond without the issuer actually defaulting. The YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments. When aggregating YTW for a portfolio level statistic, the weighted average of the YTW and market value for each security is used.

    		 7.48%
    Current Yield

    Current Yield

    A bond's annual return based on its annual coupon payments and current price (as opposed to its original price or face). The formula for current yield is a bond's annual coupons divided by its current price. When aggregating Current Yield for a portfolio level statistic, the weighted average of the Current Yield and market value for each security is used.

    		 6.43%
    Option Adjusted Duration

    Option Adjusted Duration

    An option-adjusted measure of a bond's (or portfolio's) sensitivity to changes in interest rates calculated as the average percentage change in a bond's value (price plus accrued interest) under shifts of the Treasury curve +/- 100 bps. Incorporates the effect of embedded options for corporate bonds and changes in prepayments for mortgage-backed securities.

    		 2.12 years
    Option Adjusted Spread Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.
    703.28 7.71%
    Option Adjusted Spread 703.28
    Yield to Maturity

    Yield to Maturity

    The market weighted average rate of return anticipated on the bonds held in a portfolio if they were to be held to their maturity date.

    		 7.71%

    Index Characteristics as of Jul 09 2020

    Index Characteristics as of Jul 09 2020
    Number of Holdings Average Coupon Average Maturity in Years Average Price Average Yield To Worst Current Yield Option Adjusted Duration
    778 6.18% 3.39 $98.17 7.40% 6.53% 2.16 years
    Number of Holdings 778
    Average Coupon 6.18%
    Average Maturity in Years 3.39
    Average Price $98.17
    Average Yield To Worst 7.40%
    Current Yield 6.53%
    Option Adjusted Duration 2.16 years
    Option Adjusted Spread Yield to Maturity
    689.75 7.66%
    Option Adjusted Spread 689.75
    Yield to Maturity 7.66%

    Yields as of Jul 09 2020

    Yields as of Jul 09 2020
    30 Day SEC Yield

    30 Day SEC Yield

    (Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

    		 30 Day SEC Yield (Unsubsidized)

    30 Day SEC Yield (Unsubsidized)

    An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

    		 Fund Dividend Yield

    Fund Dividend Yield

    The sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.
    6.35% - 5.90%
    30 Day SEC Yield

    30 Day SEC Yield

    (Also known as Standardized Yield) An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price.

    		 6.35%
    30 Day SEC Yield (Unsubsidized)

    30 Day SEC Yield (Unsubsidized)

    An annualized yield that is calculated by dividing the net investment income earned by the fund over the most recent 30-day period by the current maximum offering price that does not account for expense ratio waivers.

    		 -
    Fund Dividend Yield

    Fund Dividend Yield

    The sum of the most recent 12 dividends within the past 365 days divided by Net Asset Value per share, expressed as a percentage.

    		 5.90%

    Fund Market Price as of Jul 09 2020

    Fund Market Price as of Jul 09 2020
    Bid/Ask

    Bid/Ask Mid Point

    (Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given a given security.

    		 Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    		 Day High Day Low Exchange Volume (Shares)

    Exchange Volume (shares)

    Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

    		 Premium/Discount

    Premium/Discount to NAV

    Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)
    $25.26 $25.25 $25.31 $25.15 985,986 -0.04%
    Bid/Ask

    Bid/Ask Mid Point

    (Also known as Mid Price) The price between the best price of the sellers for a trading unit of a given security and the best price of the buyer of a trading unit of a given a given security.

    		 $25.26
    Closing Price

    Closing Price

    Market Price of last reported trade on the exchange.

    		 $25.25
    Day High $25.31
    Day Low $25.15
    Exchange Volume (Shares)

    Exchange Volume (shares)

    Represents the volume of shares traded on the ETF's primary exchange throughout the previous business day.

    		 985,986
    Premium/Discount

    Premium/Discount to NAV

    Shows the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds calculated as ((4PM Bid/Ask - Closing NAV) / Closing NAV * 100)

    		 -0.04%

    Premium Discount to Nav

    Quarter
      x axis: # of days
      y axis: # Premium/Discount percentage
      Fund Data

      The above information is provided to show the comparison of the daily net asset value (NAV) and the Midpoint of the closing bid/ask for each of the funds.

      Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

      Fund Net Cash Amount as of Jul 09 2020

      Fund Net Cash Amount as of Jul 09 2020
      Net Cash Amount
      $42,934,672.54
      Net Cash Amount $42,934,672.54

      Fund Net Asset Value as of Jul 09 2020

      Fund Net Asset Value as of Jul 09 2020
      NAV

      NAV

      The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

      		 Shares Outstanding Assets Under Management
      $25.27 121.30 M $3,064.80 M
      NAV

      NAV

      The market value of a mutual fund's or ETFs total assets, minus liabilities, divided by the number of shares outstanding.

      		 $25.27
      Shares Outstanding 121.30 M
      Assets Under Management $3,064.80 M
      Most Recent NAV / NAV History

      Fund Performance

      Fund Performance

      • Fund Inception Date: Mar 14 2012
      Performance
      Month End Quarter End

      as of Jun 30 2020

      as of Jun 30 2020

      As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
      Mar 14 2012
      Fund Before Tax
      NAV Jun 30 2020 1.22% 8.81% -4.05% -2.02% 2.17% 2.99% - 3.49%
      Market Value Jun 30 2020 0.89% 8.72% -4.14% -2.09% 2.11% 2.94% - 3.49%
      Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index Jun 30 2020 1.11% 8.38% -4.83% -2.56% 2.16% 3.48% - 4.30%
      Fund After Tax
      Return after Taxes on Distributions Jun 30 2020 1.04% 8.14% -5.00% -4.26% -0.16% 0.57% - 1.13%
      Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2020 0.72% 5.20% -2.40% -1.18% 0.67% 1.20% - 1.63%
      Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index Jun 30 2020 1.11% 8.38% -4.83% -2.56% 2.16% 3.48% - 4.30%
      As Of 1 Month QTD YTD 1 Year 3 Year 5 Year 10 Year Since Inception
      Mar 14 2012
      Fund Before Tax
      NAV Jun 30 2020 1.22% 8.81% -4.05% -2.02% 2.17% 2.99% - 3.49%
      Market Value Jun 30 2020 0.89% 8.72% -4.14% -2.09% 2.11% 2.94% - 3.49%
      Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index Jun 30 2020 1.11% 8.38% -4.83% -2.56% 2.16% 3.48% - 4.30%
      Fund After Tax
      Return after Taxes on Distributions Jun 30 2020 1.04% 8.14% -5.00% -4.26% -0.16% 0.57% - 1.13%
      Return after Taxes on Distributions and Sale of Fund Shares Jun 30 2020 0.72% 5.20% -2.40% -1.18% 0.67% 1.20% - 1.63%
      Bloomberg Barclays US High Yield 350mn Cash Pay 0-5 Yr 2% Capped Index Jun 30 2020 1.11% 8.38% -4.83% -2.56% 2.16% 3.48% - 4.30%

      Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance of an index is not illustrative of any particular investment.  It is not possible to invest directly in an index.

      The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

      Gross Expense Ratio: 0.40%

      Top Holdings

      Subject to change.

      Top Holdings

      Subject to change.

      Fund Top Holdingsas of Jul 09 2020
      Index Top Holdingsas of Jul 09 2020

      Fund Top Holdings as of Jul 09 2020

      Name Market Value ISIN Weight
      STATE ST INST US GOV MM-G 0 00/00/0000 40,985,421.53 US8574924663 1.34%
      SPRINT CORP 7.875 09/15/2023 27,754,329.87 US85207UAF21 0.91%
      CARNIVAL CORP 11.5 04/01/2023 25,036,338.70 US143658BC57 0.82%
      CHS/COMMUNITY HEALTH SYS 6.25 03/31/2023 24,175,343.74 US12543DAY67 0.79%
      BAUSCH HEALTH COS INC 6.125 04/15/2025 18,479,545.62 US91831AAC53 0.60%
      OCCIDENTAL PETROLEUM COR 2.9 08/15/2024 18,257,009.93 US674599CW33 0.60%
      TENET HEALTHCARE CORP 8.125 04/01/2022 18,019,781.21 US88033GCE89 0.59%
      HCA INC 5.375 02/01/2025 16,577,600.09 US404119BR91 0.54%
      BAUSCH HEALTH COS INC 7 03/15/2024 16,216,254.82 US91911KAK88 0.53%
      UNITI GRP/UNITI HLD/CSL 7.875 02/15/2025 16,147,659.16 US91327AAA07 0.53%

      Index Top Holdings as of Jul 09 2020

      Name ISIN Weight
      CARNIVAL CORP 11.5 04/01/2023 US143658BC57 0.84%
      BAUSCH HEALTH COS INC 6.125 04/15/2025 US91831AAC53 0.63%
      SPRINT CORP 7.875 09/15/2023 US85207UAF21 0.58%
      TENET HEALTHCARE CORP 8.125 04/01/2022 US88033GCE89 0.57%
      HCA INC 5.375 02/01/2025 US404119BR91 0.55%
      CHS/COMMUNITY HEALTH SYS 6.25 03/31/2023 US12543DAY67 0.49%
      OCCIDENTAL PETROLEUM COR 2.9 08/15/2024 US674599CW33 0.48%
      UNITI GRP/UNITI HLD/CSL 7.875 02/15/2025 US91327AAA07 0.45%
      NIELSEN FINANCE LLC/CO 5 04/15/2022 US65409QBB77 0.44%
      SOLERA LLC / SOLERA FINA 10.5 03/01/2024 US83422AAA16 0.41%

      Sector Allocation

      Sector Allocation
      Fund Sector Breakdownas of Jul 09 2020
      Index Sector Breakdownas of Jul 09 2020

      Fund Sector Breakdown as of Jul 09 2020

      Sector Weight
      Corporate - Consumer Cyclical 20.65%
      Corporate - Communications 16.74%
      Corporate - Consumer Non-Cyclical 13.21%
      Corporate - Energy 12.48%
      Corporate - Capital Goods 7.35%
      Corporate - Technology 5.91%
      Corporate - Basic Industry 5.85%
      Corporate - Finance Companies 3.47%
      Corporate - Transportation 3.07%
      Corporate - Insurance 2.40%
      Corporate - REITS 1.91%
      Corporate - Banking 1.54%
      Corporate - Industrial Other 1.40%
      Corporate - Other Financial 1.12%
      Corporate - Electric 1.01%
      Corporate - Brokerage Assetmanagers Exchanges 0.20%
      Other 1.69%

      Index Sector Breakdown as of Jul 09 2020

      Sector Weight
      Corporate - Consumer Cyclical 20.89%
      Corporate - Communications 16.01%
      Corporate - Consumer Non-Cyclical 13.40%
      Corporate - Energy 12.99%
      Corporate - Capital Goods 6.87%
      Corporate - Basic Industry 6.50%
      Corporate - Technology 6.49%
      Corporate - Finance Companies 3.81%
      Corporate - Transportation 2.83%
      Corporate - Insurance 2.17%
      Corporate - REITS 2.17%
      Corporate - Industrial Other 1.68%
      Corporate - Banking 1.66%
      Corporate - Other Financial 1.20%
      Corporate - Electric 1.17%
      Corporate - Brokerage Assetmanagers Exchanges 0.14%

      Quality Breakdown

      Quality Breakdown
      Fund Quality Breakdownas of Jul 09 2020
      Index Quality Breakdownas of Jul 09 2020

      Fund Quality Breakdown as of Jul 09 2020

      Name Weight
      BBB or Higher 2.06%
      BB 52.59%
      B 30.75%
      CCC or Lower 14.25%
      Not Rated 0.35%

      Index Quality Breakdown as of Jul 09 2020

      Name Weight
      BB 52.96%
      B 31.18%
      CCC or Lower 15.76%
      Not Rated 0.10%

      Maturity Ladder

      Maturity Ladder
      Fund Maturity Ladderas of Jul 09 2020
      Index Maturity Ladderas of Jul 09 2020

      Fund Maturity Ladder as of Jul 09 2020

      Name Weight
      0 - 1 Year 7.45%
      1 - 2 Years 11.54%
      2 - 3 Years 20.05%
      3 - 5 Years 59.65%
      5 - 7 Years 1.24%
      7 - 10 Years 0.07%

      Index Maturity Ladder as of Jul 09 2020

      Name Weight
      0 - 1 Year 5.33%
      1 - 2 Years 11.42%
      2 - 3 Years 20.73%
      3 - 5 Years 62.51%
      Fund Documents
      Tax Documents
      Information & Schedules
      Insights & Resources

      Purchase Information

      Purchase Information

      Buying and Selling ETFs

      ETFs are flexible and easy to trade. Investors buy and sell them like stocks, typically through a brokerage account. Investors can also employ traditional stock trading techniques; including stop orders, limit orders, margin purchases, and short sales using ETFs. They are listed on major US Stock Exchanges.

      ETFs are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

      Ordinary brokerage commissions may apply.

      Fund Footnotes

      In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

      After-tax returns are calculated based on NAV using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

      Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index.

      Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future.

      Unless otherwise noted all information contained herein is that of the SPDR Bloomberg Barclays Short Term High Yield Bond ETF.

      As with all stocks, you may be required to deposit more money or securities into your margin account if the equity, including the amount attributable to your ETF shares, declines.

      BLOOMBERG®, a trademark and service mark of Bloomberg Finance L.P. and its affiliates, and BARCLAYS®, a trademark and service mark of Barclays Bank Plc, have each been licensed for use in connection with the listing and trading of the SPDR Bloomberg Barclays ETFs.

      Questions? Feel free to

      View More Information About Our Firm: FINRA's BrokerCheck 

      ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
       

      Standard & Poor's®, S&P® and SPDR® are registered trademarks of Standard & Poor's Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation's financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
       

      Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA , SIPC,  an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., member FINRA, is the distributor for DIA, MDY and SPY, all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc., member FINRA, is the distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Advisors Funds Distributors, LLC.
       

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      Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors. Not all products will be available to all investors. The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.
       

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      Information for Non-U.S. Investors:
       

      The products and services described on this web site are intended to be made available only to persons in the United States, and the information on this web site is only for such persons. Nothing on this web site shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
       

      Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus  now, or talk to your financial advisor. Read it carefully before investing.
       

      Not FDIC Insured * No Bank Guarantee * May Lose Value                                    

      2731941.3.1.AM.RTL

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