All investments are subject to market risk, including the possible loss of principal. Interest rates: A rise in interest rates typically causes the price of a fixed rate debt instrument to fall and its yield to rise. Conversely, a decline in interest rates typically causes the price of a fixed rate debt instrument to rise and the yield to fall. Credit quality: An issuer of a debt instrument could suffer an adverse change in financial condition that results in a payment default (failure to make scheduled interest or principal payments), rating downgrade, or inability to meet a financial obligation. Foreign investing: Investments in the securities of non-U.S. issuers may be adversely affected by local or regional, political, social, and economic conditions; greater volatility; reduced liquidity; or decreases in foreign currency values relative to the U.S. dollar. Derivatives: Derivatives can be highly volatile, illiquid, and difficult to value, and changes in the value of a derivative may not properly correlate with changes in the value of the underlying asset, reference rate, or index. See the prospectus for more detail on the fund's principal risks.

Statement of Additional Information (SAI)