Zero Coupon 2025 Fund

Summary

Loading Daily NAV data...

FUND FACTS

Loading Fund Facts data...

Expenses and Dividends

Loading Expenses and Dividends data...

Morningstar

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Morningstar ratings are based upon Investor class of shares, unless otherwise indicated. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics. Past performance is no guarantee of future results.
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).
Loading Morningstar data ...

FUND DOCUMENTS & RESOURCES

Loading Fund Documents data...

 

More Information


      2012 Tax Form 8937 
      2013 Tax Form 8937 
      2014 Tax Form 8937 
      2015 Tax Form 8937 
      2016 Tax Form 8937 
      2017 Tax Form 8937 
      2018 Tax Form 8937 
      2019 Tax Form 8937 
      2020 Tax Form 8937 

Investment Objective

Seeks the highest return consistent with investment in U.S. Treasury securities.

Risk & Additional Details

Goal & Strategy

Highest return consistent with investments in U.S. Treasury securities.

Characteristics

Invests in zero-coupon bonds, providing a dependable rate of return if held to maturity.

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

    Loading Annualized Performance data...
  • CALENDAR YEAR
  • Calendar Year

    Loading Calendar Year Returns data...
  • YIELDS
  • Yields

    Loading Yields data ...

  • 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

      Loading Top Ten Holdings data...
    • QUALITY
    • Quality

      Loading Quality data...

    • MATURITY
    • Maturity

      Loading Maturity data...

    • COUPON
    • Coupon

      Loading Coupon data...

    • DURATION
    • Duration

      Loading Duration data...

      Geography

        Management

        Robert Gahagan

        Robert Gahagan

        Senior Vice President, Senior Portfolio Manager

        Jim Platz, CFA

        Jim Platz, CFA

        Vice President, Portfolio Manager

        Miguel Castillo

        Miguel Castillo

        Portfolio Manager

        The fund invests primarily in zero-coupon U.S. Treasury securities and their equivalents, which can be subject to dramatic price fluctuations and could result in significant gains or losses if sold prior to maturity. Each Zero Coupon fund invests in different maturities of these debt securities and has different interest rate risks. The fund can only offer a relatively predictable return if held to maturity. Investment in zero-coupon securities is subject to greater price risk than interest-paying securities of similar maturity.

        Although you can potentially earn a dependable return if you hold your shares to maturity, you should be prepared for dramatic price fluctuations which may result in significant gains or losses if sold prior to maturity.

        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.

        ©2021 Morningstar, Inc. All Rights Reserved. Certain information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

        ©2021 Standard & Poor's Financial Services LLC. All rights reserved. For intended recipient only. No further distribution and/or reproduction permitted. Standard & Poor's Financial Services LLC ("S&P") does not guarantee the accuracy, adequacy, completeness or availability of any data or information contained herein and is not responsible for any errors or omissions or for the results obtained from the use of such data or information. S&P GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE IN CONNECTION TO THE DATA OR INFORMATION INCLUDED HEREIN. In no event shall S&P be liable for any direct, indirect, special or consequential damages in connection with recipient's use of such data or information.

        The Dow Jones AveragesSM and The Dow Jones Global IndexesSM are compiled, calculated and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones AveragesSM and The Dow Jones Global IndexesSM ©2021 Dow Jones & Company, Inc. All Rights Reserved.

        For detailed descriptions of indices or investing terms referenced above, refer to our glossary.