Overview

What are NextShares?

For important information about NextShares, click here.

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Month 3 Months YTD 1 Year 3 Years 5 Years Since Portfolio Investor Inception
Feb 1, 2010
Since Fund Inception
Mar 30, 2016
01/31/2017
Fund at NAV 0.51 -2.96 0.51 -0.87 5.68 4.53 6.80 -1.03
Fund at Market Price 0.58 -2.92 0.58 -0.80
Bloomberg Barclays 10 Year Municipal Bond Index2 0.74 -2.39 0.74 -0.87 3.66 2.90 4.50 -0.94
12/31/2016
Fund at NAV 1.76 -4.69 0.27 0.27 6.52 5.33 6.80 -1.52
Fund at Market Price 1.65 -4.68 -1.37
Bloomberg Barclays 10 Year Municipal Bond Index2 1.44 -4.29 -0.12 -0.12 4.05 3.10 4.44 -1.66
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.

Fund Factsas of Jan 31, 2017

Inception 03/30/2016
Investment Objective Current tax-exempt income
Total Net Assets3 $22.0M
Total Net Assets of Portfolio3 $502.1M
Exchange NASDAQ
Shares Outstanding 1125000
Expense Ratio (Gross)4 0.57%
Expense Ratio (Net)4,5 0.35%
CUSIP 27830Y807

Top 10 Holdings (%)6,7,8as of Jan 31, 2017

Chicago O'Hare International Airport
Chicago O'Hare International Airport
Chicago O'Hare International Airport
Adams 12 Five Star Schools
City & County of Denver CO Airport System Revenue
City of Homewood AL
City of Homewood AL
Cook County School District No 25 Arlington Heights
Norton Healthcare Obligated Group
Rush University Medical Center Obligated Group
Total 5.21

Portfolio Management

James H. Evans, CFA Managed Fund since inception
Brian C. Barney, CFA Managed Fund since inception
Christopher J. Harshman, CFA Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk 

An imbalance in supply and demand in the municipal market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%)as of Dec 31, 2016

Annualized
1 Month 3 Months YTD 1 Year 3 Years 5 Years Since Portfolio Investor Inception
Feb 1, 2010
Since Fund Inception
Mar 30, 2016
01/31/2017
Fund at NAV 0.51 -2.96 0.51 -0.87 5.68 4.53 6.80 -1.03
Fund at Market Price 0.58 -2.92 0.58 -0.80
Bloomberg Barclays 10 Year Municipal Bond Index2 0.74 -2.39 0.74 -0.87 3.66 2.90 4.50 -0.94
12/31/2016
Fund at NAV 1.76 -4.69 0.27 0.27 6.52 5.33 6.80 -1.52
Fund at Market Price 1.65 -4.68 -1.37
Bloomberg Barclays 10 Year Municipal Bond Index2 1.44 -4.29 -0.12 -0.12 4.05 3.10 4.44 -1.66
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV
Fund at Market Price
Bloomberg Barclays 10 Year Municipal Bond Index2 4.29 1.52 9.85 4.05 12.32 5.70 -2.17 8.72 3.76 -0.12
See above note regarding performance calculations. There is no Fund at Market Price performance because the Fund has not completed a calendar year of operations.

Fund Facts

Inception 03/30/2016
Expense Ratio (Gross)4 0.57%
Expense Ratio (Net)4,5 0.35%
Distribution Frequency Monthly

Yield Information9as of Jan 31, 2017

Distribution Rate at NAV 1.75%
Subsidized SEC 30-day Yield 2.31%
Unsubsidized SEC 30-day Yield 1.20%

NAV History

Date NAV NAV Change
Feb 21, 2017 $19.59 $0.00
Feb 17, 2017 $19.59 $0.07
Feb 16, 2017 $19.52 $0.03
Feb 15, 2017 $19.49 -$0.07
Feb 14, 2017 $19.56 -$0.05
Feb 13, 2017 $19.61
Feb 10, 2017 $19.63 -$0.02
Feb 09, 2017 $19.65 -$0.03
Feb 08, 2017 $19.68 $0.04
Feb 07, 2017 $19.64 $0.03

Distribution History10

Ex-Date Distribution
Feb 01, 2017 $0.03240
Jan 03, 2017 $0.02860
Dec 01, 2016 $0.02775
Nov 01, 2016 $0.02580
Oct 03, 2016 $0.02540
Sep 01, 2016 $0.02370
Aug 01, 2016 $0.02640
Jul 01, 2016 $0.02310
Jun 01, 2016 $0.01910
May 02, 2016 $0.02070
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History10

Ex-Date Short-Term Long-Term
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk 

An imbalance in supply and demand in the municipal market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Trading & Portfolio

Trade Data11as of Feb 21, 2017

vs. Prior Business Day Change (%)
Closing Price $19.63 -$0.01 -0.05%
Closing NAV $19.59 +$0.00 +0.00%
Closing Bid/Ask
Midpoint (of bid/ask) NAV+$0.04
Spread (between bid/ask) $0.02
Intraday Price (vs. NAV)
High NAV+$0.05
Low NAV+$0.05
Average (Volume-Wtd) NAV+$0.05
Closing NAV+$0.05
Trading Volume (Shares) 5,140

Trading History12Inception through Feb 21, 2017


Chart Table
Premium/Discount Closing
Date High Low Average
(Volume-Wtd)
Closing Price Closing Bid/Ask Midpoint Bid/Ask Spread
Feb 21, 2017 $0.05 $0.05 $0.05 $0.05 $0.04 $0.02
Feb 17, 2017 $0.06 $0.06 $0.06 $0.06 $0.05 $0.03
Feb 16, 2017 $0.06 $0.06 $0.06 $0.06 $0.05 $0.03
Feb 15, 2017 $0.06 $0.00 $0.04 $0.03 $0.02 $0.03
Feb 14, 2017 $0.06 $0.06 $0.06 $0.06 $0.05 $0.03

Historical Premiums/Discounts and Trading Spreads13Inception through Feb 21, 2017

Premium/Discount Closing
Range Closing Price Vol Wtd Ave Price Closing Bid/Ask Midpoint Bid/Ask Spread
>1.00%
+0.76% to +1.00%
+0.51% to +0.75%
+0.26% to +0.50% 23% 23% 4%
-0.25% to +0.25% 77% 77% 96% 100%
-0.26% to -0.50%
-0.51% to -0.75%
-0.76% to -1.00%
<-1.00%

Asset Mix (%)7,8as of Jan 31, 2017

Municipal Bonds 93.13
Cash 6.87
Total 100.00

Portfolio Statistics7as of Jan 31, 2017

Number of Holdings 717
Average Coupon 4.65%
Average Maturity 10.21 yrs.
Average Effective Maturity 8.18 yrs.
Average Duration 6.49 yrs.
Average Price $113.07
% Prerefunded (% of Bond Holdings) 0.12%

Sector Breakdown (%)7,8as of Jan 31, 2017

General Obligations 28.84
Other Revenue 13.74
Appropriation 8.33
Hospital 6.74
Insured 6.33
Other Utilities 4.01
Healthcare: Lifecare 3.90
Water and Sewer 3.77
Other Transportation 3.41
Airport 3.11
View All

Credit Quality (%)7,14as of Jan 31, 2017

AAA 14.36
AA 51.31
A 27.56
BBB 6.76
Total 100.00
Ratings are based on Moody's, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer's creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P's measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody's) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency's analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition and does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. Holdings designated as "Not Rated" are not rated by the national ratings agencies stated above.

Maturity Distribution (%)7,14as of Jan 31, 2017

Less Than 1 Year 0.00
1 To 3 Years 0.00
3 To 5 Years 3.00
5 To 10 Years 45.49
10 To 20 Years 51.23
20 To 30 Years 0.28
More Than 30 Years 0.00
Total 100.00

Portfolio Holdings7,8,15as of Dec 31, 2016

Holding Coupon Rate Maturity Date % of Net Assets
US Dollars 1.14%
Chicago O'Hare International Airport 5.25% 01/01/2029 0.73%
Chicago O'Hare International Airport 5.25% 01/01/2028 0.70%
Chicago O'Hare International Airport 5.25% 01/01/2032 0.61%
Adams 12 Five Star Schools 5.00% 12/15/2032 0.60%
City & County of Denver CO Airport System Revenue 5.00% 11/15/2032 0.52%
City of Homewood AL 5.00% 09/01/2028 0.49%
City of Homewood AL 5.00% 09/01/2029 0.49%
State of Washington 5.00% 08/01/2021 0.48%
Rhode Island Commerce Corp 5.00% 06/15/2021 0.46%
View All

Basket Details16Feb 22, 2017

Holding Shares
View All

Transaction Fees17,18,19Feb 22, 2017

No. of Creation Units Fee per Creation Unit (bps)
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk 

An imbalance in supply and demand in the municipal market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & Analysis

Commentary

No commentary information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk 

An imbalance in supply and demand in the municipal market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Attribution

No attribution information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund primarily invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund and may also invest directly. References to investments are to the aggregate holdings of the Fund and the Portfolio.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk 

An imbalance in supply and demand in the municipal market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. There generally is limited public information about municipal issuers. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
James H. Evans, CFA

James H. Evans, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2008

James Evans is a vice president of Eaton Vance Management, director of the tax-advantaged bond strategies (TABS) division and portfolio manager on Eaton Vance's TABS team. Jim joined Eaton Vance in December 2008 when it acquired M.D. Sass Tax Advantaged Bond Strategies, LLC, where he was senior portfolio manager and manager of the TABS team.

Jim joined M.D. Sass in 1990 to manage its clients' municipal bond portfolios. He has over 30 years of investment experience. Previously, he was affiliated with Kidder, Peabody & Company as vice president in charge of its municipal arbitrage account, and with Continental Bank and Mellon Bank, where he was a municipal bond trader/underwriter.

Jim earned a B.S. in engineering from Cornell University. He is a CFA charterholder. Jim's commentary has appeared in Bloomberg, The Bond Buyer and Barron's, among other publications.

Education
  • B.S. Cornell University

Experience
  • Managed Fund since inception

 
Biography
Brian C. Barney, CFA

Brian C. Barney, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2008

Brian Barney is a vice president of Eaton Vance Management, director of institutional portfolio strategies and municipal portfolio manager on Eaton Vance’s tax-advantaged bond strategies team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s tax-advantaged bond strategies. He joined Eaton Vance in 2009.

Brian began his career in the investment management industry in 2001. Before joining Eaton Vance, he was affiliated with M.D. Sass Tax Advantaged Bond Strategies, LLC, where he was vice president and municipal portfolio manager.

Brian earned a B.S. in systems engineering from the University of Virginia. He is a CFA charterholder.

Education
  • B.S. University of Virginia

Experience
  • Managed Fund since inception

 
Biography
Christopher J. Harshman, CFA

Christopher J. Harshman, CFA

Vice President, Eaton Vance Management
Joined Eaton Vance 2009

Christopher Harshman is a vice president of Eaton Vance Management and municipal portfolio manager on Eaton Vance’s tax-advantaged bond strategies team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s tax-advantaged bond strategies. He joined Eaton Vance in 2009.

Christopher began his career in the investment management industry in 2003. Before joining Eaton Vance, Christopher was a vice president and senior bond and derivatives trader at Wachovia Bank and Wells Fargo.

Christopher earned a B.S.B.A. from the University of Florida and an MBA from the Simon School of Business at the University of Rochester. He is a CFA charterholder.

Education
  • B.S.B.A. University of Florida
  • M.B.A. Simon School of Business, University of Rochester

Experience
  • Managed Fund since inception

 

Literature

Literature

NextShares Brochure

Download - Last updated: Oct 21, 2016

Display of NextShares Quotes by Certain Data Providers

Download - Last updated: Feb 26, 2016

Full Prospectus

Download - Last updated: Jun 22, 2016

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

SAI

Download - Last updated: Mar 28, 2016

Semi-Annual Report

Download - Last updated: Jul 31, 2016

Summary Prospectus

Download - Last updated: Jun 22, 2016

XBRL

Download - Last updated: Mar 28, 2016