The Russell 1000 Value Index, an unmanaged index of 1,000 largest U.S. companies with lower price-to-book ratios and lower forecasted growth values, is not available for direct investment. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees or other expenses.
The market cap range of the benchmark frequently changes. As a result, the capitalization of companies in which the Fund invests may also change.
Investments in value companies can continue to be undervalued for long periods of time and be more volatile than the stock market in general.