| Average Market Capitalization |
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| The average capitalization of all stocks in the portfolio. Capitalization, or market
value of an entire company, is calculated by multiplying the number of shares outstanding
by the price per share. |
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| Average Maturity |
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| Stated or dollar-weighted average time remaining until maturity on a fixed income
securities portfolio. |
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| Average P/E Ratio |
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| A position-weighted average which describes the relationship between the price of a
portfolio's various stocks and their earnings per share. |
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| Beta |
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| Measures a portfolio's market risk. By definition, the beta of the market is 1.00. A
portfolio with a beta of 1.10 is expected to perform 10% above market during "up"
periods, and 10% below market during "down" periods. |
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| Duration |
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| Measures a bond's average life on a present-value basis, incorporating yield, coupons,
final maturity and call features. The lower the stated or coupon rate of a bond's
interest, the longer its duration. |
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| Net Assets |
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| Assets in each portfolio, less any liabilities, as of the date indicated. |
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| Performance Benchmark |
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| Index most representative of a portfolio's investment objective class. Investors can
use the benchmark as a reference point when monitoring fund performance. |
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| Portfolio Turnover Rate |
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| Equals the value of purchases or sales of a portfolio's securities, whichever is less,
divided by the monthly average value of the portfolio's securities. A 100% portfolio
turnover rate occurs if all securities (other than short-term) are replaced once during
the year. Turnover rates begin January 1, and are cumulative through the quarter
indicated. |
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| Top Ten Holdings |
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| The top ten holdings shown are individual securities held by the portfolio. For
portfolios whose primary investments are equity securities, the top holdings shown
are common stocks unless otherwise noted. For those portfolios whose primary
investments are money market or fixed income securities, the top holdings are
individual bonds and money market securities. |
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