Closed-End Funds

The performance shown above represents past performance. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown above. Investment return and principal value will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost.

Average annual total returns based on Market Price assume the reinvestment of all distributions at the Dividend Reinvestment Plan Price and the deduction of all fund expenses.

Average annual total returns based on NAV assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses.

Like other public companies, closed-end funds have a one-time initial public offering. Thus, once their shares are first issued, shares are not continually offered by the closed-end fund, but trade in the open market through a stock exchange. Also, like other common stocks, share prices of closed-end funds will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of closed-end exchange-traded funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value (a price that reflects the value of the fund's underlying portfolio plus other assets, less the fund's liabilities divided by the number of shares outstanding). Investment return, price and net asset value will fluctuate with changes in market conditions.

*Change indicates change in the Market Price from the previous business day.