Risks and Additional Information

• Moody’s ratings assist investors by evaluating the credit worthiness of many bond issues. Ratings are measured on a scale that generally ranges from Aaa,highest, to D, lowest. The rating is not a recommendation to buy or sell a particular bond.
• Bonds funds tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund are subject to fluctuations in price due to issuer and credit quality, rising or falling interest rates, inflation, and call risks associated with the underlying bonds owned by the fund.
  
  High Yield Bond Funds may have higher yields and are subject to greater credit, market and interest rate risk than higher-rated fixed-income securities.
• Bond funds tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund are subject to fluctuations in price due to issuer and credit quality, rising or falling interest rates, inflation, and call risks associated with the underlying bonds owned by the fund. High Yield Bond Funds may have higher yields and are subject to greater credit, market and interest rate risk than higher-rated fixed-income securities.
• Standard and Poor's ratings assist investors by evaluating the credit worthiness of many bond issues. AAA to BBB ratings are typically issued to those securities considered investment-grade. The rating is not a recommendation to buy or sell a particular bond.