"Market Price" means the fund's per share closing price reported by its primary listing exchange.
Median Bid-Ask Spread The fund's "median bid-ask spread" is calculated by identifying the fund's national best bid and best offer (NBBO) as of the end of each 10 second interval during each trading day of the last 30 calendar days, then dividing the difference between each such bid and offer by the midpoint of the NBBO, and then calculating the median of those values.
Median Bid-Ask Spread
Fixed Income: Principal Amount in USD
Futures: Number of Contracts
Options: Number of Contracts
Derivative Type and Quantity definitions:
Tracking Basket is designed to closely track the daily performance of the Fund but is not the Fund’s actual portfolio holdings. It is comprised of Strategy Components (select recently disclosed portfolio holdings), Representative ETFs (liquid ETFs that convey information about the types of instruments (that are not otherwise fully represented by the Strategy Components) in which the Fund invests), and cash and cash equivalents. The Tracking Basket often may include a significant percentage of the securities held in the Fund’s portfolio, but it will exclude (or modify the weightings of) certain securities held in the Fund’s portfolio, such as those securities that the Fund’s portfolio managers are actively looking to purchase or sell.
Tracking Basket Weight Overlap is the percentage weight overlap between the prior business day’s Tracking Basket, compared to the portfolio holdings of the Fund that formed the basis for the Fund’s calculation of NAV at the end of the prior business day.
Tracking Basket Weight Overlap
Fund expense ratios are calculated based on the Fund's average net assets during the Fund's most recently completed fiscal year (or based on estimated amounts for funds that have been in existence less than one year), and have not been adjusted for current asset levels. If adjusted for any decrease or increase in assets, expense ratios would be higher or lower, respectively, than the numbers shown above. Please see the Fund's prospectus for additional details.
Gross Expense Ratio
Net expenses are after expense waiver/reimbursement. The investment manager and certain of its affiliates have contractually (for at least the current fiscal year) agreed to waive certain fees and/or to reimburse certain expenses of the Fund, as described in the Fund's prospectus, unless sooner terminated at the sole discretion of the Fund's board. Fee waivers/expense caps would limit the impact that any decrease in assets would have on net expense ratios in the current fiscal year.
Net Expense Ratio
Fund holdings and weightings presented (including cash) are as of the date stated. Holdings and weightings are subject to change at any time and are not recommendations to buy or sell a security.
For fixed income funds, as applicable, cash holdings may include amounts set aside (segregated) for bond holdings that have not yet settled, such as securities acquired in the "to be announced" (TBA) market, potentially causing the fund's total security weight to appear over 100% when using net assets.
Notional value is the total current value of a derivative contract's underlying asset. Notional value captures the exposure (leverage) associated with the whole derivative transaction and may exceed the dollar amount invested in the contract.