FRQXX
Franklin U.S. Government Money Fund
NAV 1
$1.0000
$0.0000 (0.00%) Fund Level Market NAV
$1.0000
Master Fund Level Market NAV
$1.0000
Overall Morningstar Rating
Rating Category: Money Market-Taxable
Morningstar Style Box
| High | Quality | |||
|---|---|---|---|---|
| Medium | ||||
| Low | ||||
| LTD | MOD | EXT | ||
| Duration | ||||
Historical Morningstar Ratings
| Years | 3 |
| Ratings | |
| Number of Funds In Category |
| Years | 5 |
| Ratings | |
| Number of Funds In Category |
| Years | 10 |
| Ratings | |
| Number of Funds In Category |
Overview
- Fund Description
- Strategy & Benefits
Fund Description
The investment objective of the fund is to seek high current income as is consistent with the preservation of shareholders' capital and liquidity. The fund will invest at least 99.5% of its total assets in the U.S. government securities, cash and repurchase agreements collateralized fully by the U.S. government securities or cash. The fund seeks to maintain a stable $1 share price.
Strategy & Benefits
Strategy
- The fund invests in U.S. government securities, which may include fixed, floating and variable rate securities, as well as repurchase agreements collateralized fully by U.S. government securities or cash.
- We only buy securities we believe present minimal credit risks.
- We maintain a dollar-weighted average portfolio maturity of 60 days or less.
Benefits
- Our fund seeks to maintain a stable $1 share price.
- Preservation of capital and liquidity
Fund Information
Portfolio Managers
Shawn Lyons, CFA®
California, United States
Managed Fund Since 1997
Joanne M Driscoll, CFA®
Massachusetts, United States
Managed Fund Since 2024
Michael J Lima, CFA®
Massachusetts, United States
Managed Fund Since 2024
Performance
- Average Annual Total Returns
- Calendar Year Returns
- Cumulative Total Returns
Average Annual Total Returns
Average Annual Total Returns
2025
Chart
Month End As of 12/31/2025 | 1 Year | 3 Years | 5 Years | Since Inception 10/15/2019 | |
|---|---|---|---|---|---|
| Class R - Without Sales Charge (NAV) (%) | 3.29 | 3.88 | 2.50 | 2.05 | |
| Class R - With Sales Charge (POP) (%) | 3.29 | 3.88 | 2.50 | 2.05 |
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Calendar Year Returns
Calendar Year Returns
Chart
Month End As of 12/31/2025 | YTD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | Performance Inception Date | |
|---|---|---|---|---|---|---|---|---|---|
| Class R - Without Sales Charge (NAV) (%) | 3.29 | 3.29 | 4.25 | 4.09 | 0.91 | 0.00 | 0.10 | 10/15/2019 | |
| Class R - With Sales Charge (POP) (%) | 3.29 | 3.29 | 4.25 | 4.09 | 0.91 | 0.00 | 0.10 | 10/15/2019 |
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Cumulative Total Returns
Cumulative Total Returns
2019
2025
Chart
Month End As of 12/31/2025 | YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 10/15/2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class R - Without Sales Charge (NAV) (%) | 3.29 | 0.24 | 0.75 | 1.60 | 3.29 | 12.10 | 13.12 | — | — | 13.40 | |
| Class R - With Sales Charge (POP) (%) | 3.29 | 0.24 | 0.75 | 1.60 | 3.29 | 12.10 | 13.12 | — | — | 13.40 |
Historical Cumulative Total Returns
2025
Date Selected As of 12/31/2025 | YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 10/15/2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class R - Without Sales Charge (NAV) (%) | 3.29 | 0.24 | 0.75 | 1.60 | 3.29 | 12.10 | 13.12 | — | — | 13.40 | |
| Class R - With Sales Charge (POP) (%) | 3.29 | 0.24 | 0.75 | 1.60 | 3.29 | 12.10 | 13.12 | — | — | 13.40 |
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Portfolio
Positions
Portfolio Statistics
Portfolio Holdings
Holdings
- 12/31/2025
- 11/30/2025
- 10/31/2025
- 09/30/2025
- 08/31/2025
- 08/29/2025
- 07/31/2025
- 06/30/2025
Distributions & Tax
- Distributions
- Tax Information
Distributions
Distribution Schedules
Rates and Yields
7-Day Current Yield
7-Day Effective Yield
Distributions Per Share
Current Year Distributions Per Share
| Record Date | Ex-Dividend Date | Reinvestment Date | Payable Date | Reinvestment Amount | Long-Term Capital Gains | Short-Term Capital Gains | Income | Total Distribution Per Share |
|---|---|---|---|---|---|---|---|---|
| 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 | — | — | — | $0.00240 | $0.00240 |
Historical Distributions Per Share
- 2025
- 2024
- 2023
- 2022
- 2021
- Since Inception
| Record Date | Ex-Dividend Date | Reinvestment Date | Payable Date | Reinvestment Amount | Long-Term Capital Gains | Short-Term Capital Gains | Income | Total Distribution Per Share |
|---|---|---|---|---|---|---|---|---|
| 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 | — | — | — | $0.00239523 | $0.00239523 |
| 11/28/2025 | 11/28/2025 | 11/28/2025 | 11/28/2025 | — | — | — | $0.00245388 | $0.00245388 |
| 10/31/2025 | 10/31/2025 | 10/31/2025 | 10/31/2025 | — | — | — | $0.00266938 | $0.00266938 |
| 09/30/2025 | 09/30/2025 | 09/30/2025 | 09/30/2025 | — | — | — | $0.00270286 | $0.00270286 |
| 08/29/2025 | 08/29/2025 | 08/29/2025 | 08/29/2025 | — | — | — | $0.00282993 | $0.00282993 |
| 07/31/2025 | 07/31/2025 | 07/31/2025 | 07/31/2025 | — | — | — | $0.00283511 | $0.00283511 |
| 06/30/2025 | 06/30/2025 | 06/30/2025 | 06/30/2025 | — | — | — | $0.00274799 | $0.00274799 |
| 05/30/2025 | 05/30/2025 | 05/30/2025 | 05/30/2025 | — | — | — | $0.00282427 | $0.00282427 |
| 04/30/2025 | 04/30/2025 | 04/30/2025 | 04/30/2025 | — | — | — | $0.00273999 | $0.00273999 |
| — | — | — | — | — | — | $0.00283024 | $0.00283024 | |
| 02/28/2025 | 02/28/2025 | 02/28/2025 | 02/28/2025 | — | — | — | $0.00256902 | $0.00256902 |
| 01/31/2025 | 01/31/2025 | 01/31/2025 | 01/31/2025 | — | — | — | $0.00286457 | $0.00286457 |
| 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 | — | — | — | $0.00299995 | $0.00299995 |
| 11/30/2024 | 11/30/2024 | 11/30/2024 | 11/30/2024 | — | — | — | $0.00303968 | $0.00303968 |
| 10/31/2024 | 10/31/2024 | 10/31/2024 | 10/31/2024 | — | — | — | $0.00331176 | $0.00331176 |
| 09/30/2024 | 09/30/2024 | 09/30/2024 | 09/30/2024 | — | — | — | $0.00343148 | $0.00343148 |
| 08/30/2024 | 08/30/2024 | 08/30/2024 | 08/30/2024 | — | — | — | $0.00367671 | $0.00367671 |
| 07/31/2024 | 07/31/2024 | 07/31/2024 | 07/31/2024 | — | — | — | $0.00368131 | $0.00368131 |
| 06/28/2024 | 06/28/2024 | 06/28/2024 | 06/28/2024 | — | — | — | $0.00353514 | $0.00353514 |
| 05/31/2024 | 05/31/2024 | 05/31/2024 | 05/31/2024 | — | — | — | $0.00370461 | $0.00370461 |
| 04/30/2024 | 04/30/2024 | 04/30/2024 | 04/30/2024 | — | — | — | $0.00358465 | $0.00358465 |
| 03/29/2024 | 03/29/2024 | 03/29/2024 | 03/29/2024 | — | — | — | $0.00368143 | $0.00368143 |
| 02/29/2024 | 02/29/2024 | 02/29/2024 | 02/29/2024 | — | — | — | $0.00344373 | $0.00344373 |
| 01/31/2024 | 01/31/2024 | 01/31/2024 | 01/31/2024 | — | — | — | $0.00369988 | $0.00369988 |
| 12/29/2023 | 12/29/2023 | 12/29/2023 | 12/29/2023 | — | — | — | $0.0037419 | $0.0037419 |
| 11/30/2023 | 11/30/2023 | 11/30/2023 | 11/30/2023 | — | — | — | $0.00359817 | $0.00359817 |
| 10/31/2023 | 10/31/2023 | 10/31/2023 | 10/31/2023 | — | — | — | $0.00371082 | $0.00371082 |
| 09/29/2023 | 09/29/2023 | 09/29/2023 | 09/29/2023 | — | — | — | $0.00358235 | $0.00358235 |
| 08/31/2023 | 08/31/2023 | 08/31/2023 | 08/31/2023 | — | — | — | $0.00367207 | $0.00367207 |
| 07/31/2023 | 07/31/2023 | 07/31/2023 | 07/31/2023 | — | — | — | $0.00344753 | $0.00344753 |
| 06/30/2023 | 06/30/2023 | 06/30/2023 | 06/30/2023 | — | — | — | $0.00327138 | $0.00327138 |
| 05/31/2023 | 05/31/2023 | 05/31/2023 | 05/31/2023 | — | — | — | $0.00331435 | $0.00331435 |
| 04/30/2023 | 04/30/2023 | 04/30/2023 | 04/30/2023 | — | — | — | $0.00309632 | $0.00309632 |
| 03/31/2023 | 03/31/2023 | 03/31/2023 | 03/31/2023 | — | — | — | $0.00308186 | $0.00308186 |
| 02/28/2023 | 02/28/2023 | 02/28/2023 | 02/28/2023 | — | — | — | $0.00268762 | $0.00268762 |
| 01/31/2023 | 01/31/2023 | 01/31/2023 | 01/31/2023 | — | — | — | $0.00277144 | $0.00277144 |
| 12/30/2022 | 12/30/2022 | 12/30/2022 | 12/30/2022 | — | — | — | $0.00252232 | $0.00252232 |
| 11/30/2022 | 11/30/2022 | 11/30/2022 | 11/30/2022 | — | — | — | $0.00218317 | $0.00218317 |
| 10/31/2022 | 10/31/2022 | 10/31/2022 | 10/31/2022 | — | — | — | $0.00171108 | $0.00171108 |
| 09/30/2022 | 09/30/2022 | 09/30/2022 | 09/30/2022 | — | — | — | $0.00117392 | $0.00117392 |
| 08/31/2022 | 08/31/2022 | 08/31/2022 | 08/31/2022 | — | — | — | $0.00094132 | $0.00094132 |
| 07/29/2022 | 07/29/2022 | 07/29/2022 | 07/29/2022 | — | — | — | $0.00042078 | $0.00042078 |
| 06/30/2022 | 06/30/2022 | 06/30/2022 | 06/30/2022 | — | — | — | $0.00007996 | $0.00007996 |
| 05/31/2022 | 05/31/2022 | 05/31/2022 | 05/31/2022 | — | — | — | $0.00000847 | $0.00000847 |
| 04/29/2022 | 04/29/2022 | 04/29/2022 | 04/29/2022 | — | — | — | $0.00000821 | $0.00000821 |
| 03/31/2022 | 03/31/2022 | 03/31/2022 | 03/31/2022 | — | — | — | $0.00000848 | $0.00000848 |
| 02/28/2022 | 02/28/2022 | 02/28/2022 | 02/28/2022 | — | — | — | $0.00000766 | $0.00000766 |
| 01/31/2022 | 01/31/2022 | 01/31/2022 | 01/31/2022 | — | — | — | $0.00000849 | $0.00000849 |
| 12/31/2021 | 12/31/2021 | 12/31/2021 | 12/31/2021 | — | — | — | $0.000009 | $0.00000874 |
| 11/30/2021 | 11/30/2021 | 11/30/2021 | 11/30/2021 | — | — | — | $0.000009 | $0.00000876 |
| 09/30/2021 | 09/30/2021 | 09/30/2021 | 09/30/2021 | — | — | — | $0.000008 | $0.0000082 |
| 08/31/2021 | 08/31/2021 | 08/31/2021 | 08/31/2021 | — | — | — | $0.000009 | $0.00000876 |
| 07/30/2021 | 07/30/2021 | 07/30/2021 | 07/30/2021 | — | — | — | $0.000008 | $0.00000822 |
| 06/30/2021 | 06/30/2021 | 06/30/2021 | 06/30/2021 | — | — | — | $0.000009 | $0.00000904 |
| 05/31/2021 | 05/31/2021 | 05/31/2021 | 05/31/2021 | — | — | — | $0.00000766 | $0.00000766 |
| 04/30/2021 | 04/30/2021 | 04/30/2021 | 04/30/2021 | $1.00 | — | — | $0.000008 | $0.00000822 |
| 03/31/2021 | 03/31/2021 | 03/31/2021 | 03/31/2021 | $1.00 | — | — | $0.000008 | $0.00000848 |
Tax Information
Tax Information
Federal ID Number 94-2312649
Distributions per Share ($)
- 2025
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
Pricing
- Pricing
- Liquid Assets
- 6 Month Historical Shadow NAV
Pricing
Pricing History Chart
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
January 2026
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
January 2026
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Chart
Daily Fund Prices
52-Week Range
Historical Data - Daily Fund Prices
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
January 2026
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
January 2026
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Historical Pricing Results From 12/12/2025 To 01/12/2026
| Date | NAV | NAV Change | NAV Change (%) | Master Fund Level Market NAV(USD) | Liquid Assets Daily (%) | Liquid Assets Weekly (%) | Shareholder Net Flow | Master Fund Level Shareholder Net Flow |
|---|---|---|---|---|---|---|---|---|
| 01/12/2026 | $1.0000 | $0.0000 | 0.00% | — | — | — | — | $154,422,968.6700 |
| 01/09/2026 | $1.0000 | $0.0000 | 0.00% | $1.0000 | 56.02% | 77.98% | $172.7000 | $-84,942,053.0200 |
| 01/08/2026 | $1.0000 | $0.0000 | 0.00% | $1.0001 | 54.10% | 78.17% | $1,073.5500 | $-599,065,056.2900 |
| 01/07/2026 | $1.0000 | $0.0000 | 0.00% | $1.0001 | 55.31% | 77.99% | $-65,570.5900 | $366,175,612.8500 |
| 01/06/2026 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $-1,403.6200 | $-107,611,591.0100 |
| 01/05/2026 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $3,539.5500 | $-16,684,396.6400 |
| 01/02/2026 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $4,170.2300 | $111,547,180.1500 |
| 01/01/2026 | $1.0000 | $0.0000 | 0.00% | — | — | — | $68,739.9900 | — |
| 12/31/2025 | $1.0000 | $0.0000 | 0.00% | $1.0001 | 48.62% | 78.07% | — | $-124,325,854.8300 |
| 12/30/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $532.0800 | $253,432,629.9000 |
| 12/29/2025 | $1.0000 | $0.0000 | — | — | 15.00% | 100.00% | $77,106.0400 | $-390,083,145.2800 |
| 12/26/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $31,022.9400 | $250,404,680.0900 |
| 12/25/2025 | $1.0000 | $0.0000 | 0.00% | — | — | — | $2,108.5700 | — |
| 12/24/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | — | $48,506,466.8200 |
| 12/23/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $216.9000 | $-1,666,416,749.4900 |
| 12/22/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $5,305.3400 | $1,112,197,463.0900 |
| 12/19/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $23,049.6100 | $-92,874,080.0300 |
| 12/18/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $-8,196.7200 | $-41,315,834.2600 |
| 12/17/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $2,043.5200 | $63,819,706.5400 |
| 12/16/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $3,388.7700 | $70,612,191.0400 |
| 12/15/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $63,707.4300 | $-276,135,815.4700 |
| 12/12/2025 | $1.0000 | $0.0000 | 0.00% | — | 15.00% | 100.00% | $5,225.1900 | $170,188,736.0200 |
Liquid Assets
Chart
6 Month Historical Shadow NAV
6 Month Historical Shadow NAV 10
Chart
Documents
Risks
What Are the Risks?
You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress. Although the fund invests in U.S. government obligations, an investment in the fund is neither insured nor guaranteed by the U.S. government.
All investments involve risk, including loss of principal. The fund's yield may be affected by changes in interest rates and changes in credit ratings. These and other risks are discussed in the fund’s prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Fund filings of the Monthly Schedule of Portfolio Holdings of Money Market Funds are available at Form N-MFP. Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Footnotes
Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Rule 2a-7 of the Investment Company Act of 1940 provides that money market funds may not acquire any security other than a “weekly liquid asset” unless, immediately following such purchase, at least 50% of its total assets would be invested in weekly liquid assets. In addition, the Rule provides that taxable money market funds may not acquire any security other than a “daily liquid asset” unless, immediately following such purchase, at least 25% of its total assets would be invested in daily liquid assets.
Daily Liquid Assets include (i) cash; (ii) direct obligations of the U.S. Government; and (iii) securities that will mature or are subject to a demand feature that is exercisable and payable within one business Day. May include the effect of receivables from pending sales and payables from pending purchases.
Weekly Liquid Assets include (i) cash; (ii) direct obligations of the U.S. Government; (iii) U.S. Government securities issued by a person controlled or supervised by and acting as an instrumentality of the U.S. Government pursuant to authority granted by the U.S. Congress, that are issued at a discount to the principal amount to be repaid at maturity and have a remaining maturity of 60 days or less; and (iv) securities that will mature or are subject to a demand feature that is exercisable and payable within five business Days. May include the effect of receivables from pending sales and payables from pending purchases.
Daily Liquid Assets and Weekly Liquid Assets are calculated at the master portfolio level.
Based on the previous business day.
The 7-day Current Yield represents net interest income generated by the investments for the past 7 days and assumes that the same income is generated each week over a 365-day period. The 7-day yield more closely reflects current fund earnings than does total returns. 7-day Effective Yield, assumes reinvest of the coupon (interest payments). Unlike Current Yield, Effective Yield takes into account the power of compounding on investment returns. Yields for other share classes may vary due to differences in sales charge structure and class expenses.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
Assets are reported at the fund level.
Shadow NAV is the market-based net asset value per share of a fund calculated based on current market factors, before applying the amortized cost method. The Funds do not use a market-based NAV for purchase and sale transactions in Fund shares.