Returns quoted are net of fees. Rates can vary over time. Past performance is not a guarantee of future results.
Dividend Factor: Portfolio investment income earned for the one day period less expenses divided by the total shares outstanding in the portfolio.
Daily Rate: Dividend factor multiplied by the number of days in the year.
Annual Yield: Dividend factor exponentially raised to the number of days in the year.
7 Day Yield*: The sum of the preceding 7 days' income dividend factors multiplied by 365/7.
7 Day Effective Yield*: The sum of the preceding 7 days' income dividend factors exponentially raised to 365/7.
Average Month to Date Yield: The product of the monthly dividend factors exponentially raised to 365/number of days in month.
Notes:
*Required SEC yields for money market funds.
Raising a number exponentially shows the effect of compounding.