Disclosures

 

There are risks involved with investing in ETFs including the loss of money. An investment in the Fund is subject to investment risk including the possible loss of the entire principal amount that you invest.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. Although the Fund’s shares are listed on the Exchange, there can be no assurance that an active, liquid or otherwise orderly trading market for shares will be established or maintained.

ETF shares are bought and sold at market price (not NAV) and are not individually redeemable. Investors buy and sell shares on a secondary market. Shares may trade at a premium or discount to the NAV. Only market makers or 'authorized participants' may trade directly with the Fund(s), typically in blocks of 50,000 shares.

The performance data quoted above represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns (Net Asset Value) are calculated using the daily 4:00pm net asset value (NAV). Through July 31, 2020, Market Price returns are based on the midpoint of the bid/ask spread for fund shares at market close (typically 4 pm ET). Beginning with August 31, 2020 month-end performance, Market Price returns are based on closing prices reported by the fund's primary listing exchange (typically 4 pm ET close). Returns over one year are annualized. Performance results shown reflect expense reimbursements (if any), without which the results would have been lower.

The amount that the fund's Market Price is above the reported NAV is called the premium. The amount that the fund's Market Price is below the reported NAV is called the discount. The vertical axis of the bar chart and the line graph show the premium or discount expressed in basis points. The horizontal axis of the bar chart and the line graph indicates the number of trading days in the period covered by the bar chart and the period(s) covered by the line graph. Each bar in the chart shows the number of trading days in which the fund traded within the premium/discount range indicated. The line graph depicts the frequency and degree of fund premiums and discounts between the fund's Market Price and the fund's NAV per share. Through August 27, 2020, the fund's premium and discount data is based on the midpoint of the bid/ask spread for fund shares at market close (typically 4 pm ET) and the fund's end-of-day NAV. Beginning August 28, 2020, the fund's premium and discount data is based on closing prices reported by the fund's primary listing exchange (typically 4 pm ET close) and the fund's end-of-day NAV. For funds with less than a full calendar year of investment operations, premium/discount data is since the first day of secondary market trading of fund shares.

 

The 30-day SEC yield is an estimate of the fund's rate of investment income reflecting an estimated yield to maturity (assuming all current portfolio holdings are held to maturity), and it may not equal the fund's actual income distribution rate or the income paid to a shareholder's account. The yield shown reflects fee waivers in effect, if any. In the absence of such waivers, yields would be reduced. The yield will reflect an inflation adjustment that is attributable to any inflation-protected securities owned by the fund. This adjustment and the resulting yield can be positive (in the case of inflation) or negative (in the case of deflation). The unsubsidized 30-day SEC yield is the SEC yield adjusted to reflect the gross expense ratio applicable to the share class shown and without regard to the contractual reimbursements and fee waivers required of the fund's investment manager and affiliates. The 30-day SEC yields may appear to be the same due to rounding.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ used to rank the fund against other funds in the same category. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, without any adjustments for loads (front-end, deferred, or redemption fees), placing more emphasis on downward variations and rewarding consistent performance.  Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. 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).

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