Standard period returns††
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- Offers a unique investment approach that seeks to capitalize on positive change in fundamentals, sentiment or momentum of companies and industries.
- Focused on small- and mid-capitalization companies.
- Flexibility to invest up to 49% in foreign markets.
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|Annualized standard deviation |
Statistical measure of how much a return varies over an extended period of time. The more variable the returns, the larger the standard deviation. Investors may examine historical standard deviation in conjunction with historical returns to decide whether an investments volatility would have been acceptable given the returns it would have produced. A higher standard deviation indicates a wider dispersion of past returns and thus greater historical volatility. Standard deviation does not indicate how an investment actually performed, but it does indicate the volatility of its returns over time. Standard deviation is annualized. The returns used for this calculation are not load-adjusted. Standard deviation does not predict the future volatility of a fund.
A measure of a portfolios sensitivity to market movements (as represented by a benchmark index). The benchmark index has a beta of 1.0. A beta of more (less) than 1.0 indicates that a funds historical returns have fluctuated more (less) than the benchmark index. Beta is a more reliable measure of volatility when used in combination with a high R², which indicates a high correlation between the movements in a funds returns and movements in a benchmark index
A measurement of how closely the portfolios performance correlates with the performance of the funds primary benchmark index or equivalent. R² is a proportion which ranges between 0.00 and 1.00. An R² of 1.00 indicates perfect correlation to the benchmark index, that is, all of the portfolios fluctuations are explained by performance fluctuations of the index, while an R² of 0.00 indicates no correlation. Therefore, the lower the R², the more the funds performance is affected by factors other than the market as measured by that benchmark index. An R² value of less than 0.5 indicates that the annualized alpha and beta are not reliable performance statistics. Standard deviation does not predict the future volatility of a fund.
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Commissions, fees and expenses may be associated with investment funds. Read a fund’s prospectus or offering memorandum and speak to an advisor before investing. Funds are not guaranteed, their values change frequently and investors may experience a gain or loss. Past performance may not be repeated.
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