Fiscal Year End
|| Short-Term Bond
The fund seeks a high level of income consistent with minimal fluctuation in principal value and liquidity.
Invests primarily in a diversified portfolio of short- and intermediate-term, investment-grade debt securities. The fundís average effective maturity will not exceed three years.
Investors seeking higher income than money funds provide who can accept modest share price fluctuation. Appropriate for both regular and tax-deferred accounts, such as IRAs and Keoghs.
Click on the risk/reward spectrum below to view the funds in that category
Investors have the opportunity to earn higher income than less volatile money market funds offer, with lower risk than higher-yielding longer-term bond funds. The Short-Term Bond Fund provides some diversification since it can invest in corporate bonds, U.S. government bonds, and mortgage-backed securities.
Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that one of the fund's holdings will have its credit rating downgraded or will default.