Net asset value (NAV) is the value per share of a mutual fund on at a specific date and time. The per-share dollar amount of the fund is based on the total value of all the securities in its portfolio, any liabilities the fund has and the number of fund shares outstanding.
WAM (Weighted Average Maturity) is a measure of a fund's sensitivity to interest rate movements utilizing the interest-rate reset date and not a security's stated final maturity.
WAL (Weighted Average Life) is a measure of a fund's sensitivity to credit spreads or liquidity conditions utilizing a security's stated final maturity date or the date of the next demand feature. WAL does not reflect changes in the interest rate reset date.
A decimal representing the portion of an annual yield earned in one day.
†The subsidized yield reflects the yield calculation with voluntary reduction currently in effect. Without the reduction returns would have been lower.
Yield quotations more closely reflect the current earnings of money market funds than the total return quotations. 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.