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Glossary

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yield:  the annual return on an investment, expressed as a percentage of the price. For stocks, yield is the annual dividend divided by the purchase price, also known as a dividend yield. For bonds, it is the coupon rate divided by the market price, called current yield. For example, a bond selling for $1,000 with a 10% coupon ($100 coupon payment) offers a 10% current yield; if that bond’s price rises to $1,500, the yield would fall to 6.7%.


Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.