Diversified Bond Fund

Summary

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FUND FACTS

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Expenses and Dividends

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Morningstar

Morningstar Rating™:
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange‐traded funds, closed‐end funds, and separate accounts) with at least a three‐year history. Exchange‐traded funds and open‐ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk‐Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three‐, five‐, and 10‐year (if applicable) Morningstar Rating metrics. The weights are: 100% three‐year rating for 36‐59 months of total returns, 60% five‐year rating/40% three‐year rating for 60‐119 months of total returns, and 50% 10‐year rating/30% five‐year rating/20% three‐ year rating for 120 or more months of total returns. While the 10‐year overall star rating formula seems to give the most weight to the 10‐year period, the most recent three‐year period actually has the greatest impact because it is included in all three rating periods.
Morningstar Investment Style Box™:
The Morningstar Investment Style Box™ reveals a fund's investment strategy. For the equity holdings in the fund's portfolio, the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).
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FUND DOCUMENTS & RESOURCES

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More Information


      2019 Tax Form 8937 

Core by Design. Diversified Bond is designed as a true core bond fund, seeking to reduce overall portfolio volatility, provide diversification, and generate attractive returns.

Investment Objective

Seeks a high level of income by investing in non-money market debt securities.

Risk & Additional Details

Goal & Strategy

Total return primarily through investment-grade, intermediate-term bonds.

Characteristics

Employs comprehensive risk management designed to maximize return per level of risk. May serve as a primary core bond holding due to its broad bond market diversification and high-quality focus.

Performance

  • ANNUALIZED
  • Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.

    For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.

    Annualized

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  • CALENDAR YEAR
  • Calendar Year

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  • YIELDS
  • Yields

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  • RISK/RETURNS
  • Risk/Returns

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  • GROWTH CHART
  • Growth Chart

    Please Note: The x-axis represents the selected time frame by which the funds are being measured. The y-axis represents the value of a $10,000 investment made at the start of the selected time frame or on the fund's inception date, whichever is more recent.

    Composition

    • INVESTMENT BLEND
    • Investment Blend

    • TOP TEN HOLDINGS
    • Top Ten Holdings

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    • QUALITY
    • Quality

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    • MATURITY
    • Maturity

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    • COUPON
    • Coupon

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    • DURATION
    • Duration

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      Geography

        Management

        Charles Tan

        Charles Tan

        Senior Vice President and Co-Chief Investment Officer — Global Fixed Income

        Robert Gahagan

        Robert Gahagan

        Senior Vice President, Senior Portfolio Manager

        Daniel Shiffman, CFA

        Daniel Shiffman, CFA

        Vice President, Senior Portfolio Manager

        Jeff Houston, CFA

        Jeff Houston, CFA

        Vice President, Senior Portfolio Manager

        Jason Greenblath

        Jason Greenblath

        Vice President, Senior Portfolio Manager

        Peter Van Gelderen

        Peter Van Gelderen

        Vice President, Senior Portfolio Manager

        John Walsh

        John Walsh

        Vice President, Portfolio Manager

        Jim Platz, CFA

        Jim Platz, CFA

        Vice President, Portfolio Manager

        Jesse Singh, CFA

        Jesse Singh, CFA

        Vice President, Portfolio Manager

        Gavin Fleischman

        Gavin Fleischman

        Vice President, Portfolio Manager

        Miguel Castillo

        Miguel Castillo

        Portfolio Manager

        The value and/or returns of a portfolio will fluctuate with market and economic conditions.

        Investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk.

        Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.

        B

        Please see the prospectus for details about sales charges.

        C

        The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.

        Only Investor Class shares are made available to investors directly. Advisor, A, C, I, and Y Classes of shares are only available for purchase by institutions or other financial intermediaries. R, R5, and R6 Classes of shares are only available for purchase by group employer-sponsored retirement plans. Review definitions and minimums for all share classes.

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