Active Sustainability
Sustainable Leaders Fund (Class A) (PNOPX)
“Now more than ever, we believe that sustainable companies could also prove to be more resilient and beneficial than others over the long term.”
— Katherine Collins
Highlights
Objective
The fund seeks long-term capital appreciation.
Strategy and process
- Committed companies: The fund invests in companies we believe have strong fundamentals linked to leadership in financially material sustainability issues.
- Active strategy: A framework grounded in fundamental research, enhanced by a focus on material sustainability issues, drives investment decisions.
- Experienced team: An experienced, dedicated sustainable investing team is integrated with Putnam's equity research and quantitative/risk analysis groups.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
---|---|---|---|
Net asset value |
$116.04
1.19% | $1.37 |
$118.25
12/01/20 |
$70.16
03/23/20 |
Fund facts as of 12/31/20
$5,879.98M
44%
Annually
65
June
746916105 / 0031
08/31/90
Growth
PNOPX
Manager commentary | Q4 2020
Active sustainability strategies look to the future
Putnam’s active strategies can include small and mid-size companies that may be overlooked by ESG rating services, says Portfolio Manager Stephanie Dobson.
Literature
Fund documents |
Fund Brochure (PDF) |
Impact Report (PDF) |
Prospectuses/SAI |
Fact Sheet (R6 share) (PDF) |
Fact Sheet (YA share) (PDF) |
Annual Fund Report (PDF) |
Semiannual Fund Report (PDF) |
Quarterly Commentary (PDF) |
Equity Outlook (PDF) |
Mental health: Insights and investment implications (PDF) |
Company diversity and social justice
Company diversity is a step toward equity and equity is a step toward inclusion, which is important to company success.Sustainability research: A week in the life of our team
Our research includes discussions with company managements, other researchers and investors, industry and subject experts, and non-profit organizations.Sustainable value: Gender diversity on corporate boards
Diversity in companies — including gender diversity — can have a positive impact on company performance and strategic ability.Performance
Total return (%) as of 12/31/20
Annual performance as of 12/31/20
Annualized Total return (%) as of 12/31/20
Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
---|---|---|---|---|
Before sales charge | 28.50% | 20.04% | 19.17% | 15.15% |
After sales charge | 21.11% | 17.70% | 17.76% | 14.47% |
S&P 500 Index | 18.40% | 14.18% | 15.22% | 13.88% |
Russell 3000 Growth - S&P 500 Linked Benchmark | 18.40% | 16.27% | 16.95% | 15.11% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
Before sales charge | After sales charge | ||
---|---|---|---|
1 mt. as of 12/31/20 | 3.26% | -2.68% | |
YTD as of 01/19/21 | 1.92% | -3.94% | |
Lipper rankings as of 12/31/20
Time period | Rank/Funds in category | Percentile ranking |
---|---|---|
1 yr. | 29/660 | 5% |
3 yrs. | 10/593 | 2% |
5 yrs. | 2/514 | 1% |
10 yrs. | 6/356 | 2% |
Morningstar Ratings™ as of 12/31/20
Time period | Funds in category | Morningstar Rating™ |
---|---|---|
Overall | 1197 | |
3 yrs. | 1197 | |
5 yrs. | 1070 | |
10 yrs. | 789 |
Distributions
Record/Ex dividend date | 12/04/20 |
---|---|
Payable date | 12/08/20 |
Income | $0.332 |
Extra income | -- |
Short-term cap. gain | $0.474 |
Long-term cap. gain | $7.534 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
Microsoft Corp | 7.16% |
---|---|
Apple | 6.53% |
Amazon.Com | 4.95% |
Bank Of America Corp | 2.82% |
Blackrock | 2.68% |
Adobe | 2.36% |
Danaher Corp | 2.36% |
Visa | 2.30% |
Aes Corp/The | 2.15% |
Fidelity National Information Services | 1.92% |
Top 10 holdings, percent of portfolio | 35.23% |
Top 10 holdings as of 12/31/20 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Bank Of America Corp | |
Blackrock | |
Adobe | |
Danaher Corp | |
Visa | |
Aes Corp/The | |
Fidelity National Information Services | |
Holdings represent 35.23% of portfolio |
Top 10 holdings as of 11/30/20 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Bank Of America Corp | |
Blackrock | |
Danaher Corp | |
Adobe | |
Visa | |
Thermo Fisher Scientific | |
Fidelity National Information Services | |
Holdings represent 34.42% of portfolio |
Top 10 holdings as of 10/31/20 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Danaher Corp | |
Thermo Fisher Scientific | |
Blackrock | |
Adobe | |
Bank Of America Corp | |
Visa | |
Aes Corp/The | |
Holdings represent 35.46% of portfolio |
Top 10 holdings as of 09/30/20 | |
---|---|
Microsoft Corp | |
Apple | |
Amazon.Com | |
Danaher Corp | |
Adobe | |
Thermo Fisher Scientific | |
Visa | |
Blackrock | |
Alphabet | |
Bank Of America Corp | |
Holdings represent 36.40% of portfolio |
MICROSOFT CORP SEDOL 2588173 | 7.16% |
---|---|
APPLE INC SEDOL 2046251 | 6.54% |
AMAZON.COM INC SEDOL 2000019 | 4.95% |
BANK OF AMERICA CORP SEDOL 2295677 | 2.82% |
BLACKROCK INC SEDOL 2494504 | 2.68% |
ADOBE INC SEDOL 2008154 | 2.36% |
DANAHER CORP SEDOL 2250870 | 2.36% |
VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.30% |
AES CORP SEDOL 2002479 | 2.15% |
FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 1.92% |
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 1.82% |
UNILEVER PLC SEDOL BLRB262 | 1.75% |
WALMART INC SEDOL 2936921 | 1.74% |
HOME DEPOT INC SEDOL 2434209 | 1.74% |
ASML HOLDING NV-NY REG SHS SEDOL B908F01 | 1.67% |
UNION PACIFIC CORP SEDOL 2914734 | 1.67% |
HASBRO INC SEDOL 2414580 | 1.66% |
TARGET CORP SEDOL 2259101 | 1.65% |
TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.62% |
HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.61% |
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 1.57% |
HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 1.51% |
HEINEKEN NV SEDOL 7792559 | 1.49% |
LINDE PLC SEDOL BZ12WP8 | 1.46% |
AXA SA SEDOL 7088429 | 1.44% |
LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 | 1.43% |
FIRST REPUBLIC BANK/CA SEDOL B4WHY15 | 1.43% |
AMGEN INC SEDOL 2023607 | 1.41% |
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.41% |
PRUDENTIAL PLC SEDOL 0709954 | 1.37% |
BALL CORP SEDOL 2073022 | 1.32% |
COOPER COS INC/THE SEDOL 2222631 | 1.29% |
NXP SEMICONDUCTORS NV SEDOL B505PN7 | 1.28% |
BOSTON PROPERTIES INC SEDOL 2019479 | 1.27% |
GFL ENVIRONMENTAL INC-SUB VT SEDOL BKDT650 | 1.26% |
KONINKLIJKE DSM NV SEDOL B0HZL93 | 1.26% |
ROPER TECHNOLOGIES INC SEDOL 2749602 | 1.19% |
STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 | 1.19% |
NEXTERA ENERGY INC SEDOL 2328915 | 1.18% |
ALPHABET INC-CL A SEDOL BYVY8G0 | 1.10% |
ORSTED A/S SEDOL BYT16L4 | 1.04% |
DOCUSIGN INC SEDOL BFYT7B7 | 1.03% |
APPLIED MATERIALS INC SEDOL 2046552 | 1.03% |
BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.02% |
MERCK & CO. INC. SEDOL 2778844 | 1.01% |
ECOLAB INC SEDOL 2304227 | 1.00% |
AVERY DENNISON CORP SEDOL 2066408 | 0.98% |
VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 0.98% |
OKTA INC SEDOL BDFZSP1 | 0.93% |
AMERICAN TOWER CORP SEDOL B7FBFL2 | 0.88% |
ASTRAZENECA PLC SEDOL 0989529 | 0.87% |
ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 0.86% |
MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 0.84% |
TALEND SA - ADR SEDOL BD39HN6 | 0.84% |
FIRST SOLAR INC SEDOL B1HMF22 | 0.83% |
ETSY INC SEDOL BWTN5N1 | 0.77% |
VAIL RESORTS INC SEDOL 2954194 | 0.75% |
NOVOZYMES A/S-B SHARES SEDOL B798FW0 | 0.74% |
CVS HEALTH CORP SEDOL 2577609 | 0.71% |
JETBLUE AIRWAYS CORP SEDOL 2852760 | 0.48% |
ELI LILLY & CO SEDOL 2516152 | 0.48% |
AMEREN CORPORATION SEDOL 2050832 | 0.48% |
SALESFORCE.COM INC SEDOL 2310525 | 0.46% |
TREASURY BILL 00.0000 03/18/2021 | 0.04% |
HC BRILLANT SERVICES GMBH P/P | 0.00% |
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
UNEXT.COM LLC CORP (PRIVATE) P/P | 0.00% |
GBP/USD 03/17/2021 HSBCB | -0.00% |
EUR/USD 03/17/2021 SSBT | -0.00% |
GBP/USD 03/17/2021 BCAP-FX | -0.00% |
EUR/USD 03/17/2021 UBS | -0.00% |
GBP/USD 03/17/2021 BANKAM | -0.00% |
EUR/USD 03/17/2021 JPMCB | -0.00% |
MICROSOFT CORP SEDOL 2588173 | 7.36% |
---|---|
APPLE INC SEDOL 2046251 | 6.50% |
AMAZON.COM INC SEDOL 2000019 | 5.20% |
DANAHER CORP SEDOL 2250870 | 3.06% |
ADOBE INC SEDOL 2008154 | 2.90% |
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 2.36% |
VISA INC-CLASS A SHARES SEDOL B2PZN04 | 2.28% |
BLACKROCK INC SEDOL 2494504 | 2.27% |
BANK OF AMERICA CORP SEDOL 2295677 | 2.20% |
FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 2.17% |
SALESFORCE.COM INC SEDOL 2310525 | 2.15% |
AES CORP SEDOL 2002479 | 1.98% |
HOME DEPOT INC SEDOL 2434209 | 1.98% |
UNILEVER NV SEDOL B1527V7 | 1.90% |
WALMART INC SEDOL 2936921 | 1.84% |
TARGET CORP SEDOL 2259101 | 1.75% |
MERCK & CO. INC. SEDOL 2778844 | 1.72% |
AMGEN INC SEDOL 2023607 | 1.70% |
CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 1.63% |
HASBRO INC SEDOL 2414580 | 1.60% |
TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.53% |
LINDE PLC SEDOL BZ12WP8 | 1.44% |
BALL CORP SEDOL 2073022 | 1.38% |
ASML HOLDING NV-NY REG SHS SEDOL B908F01 | 1.38% |
JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.34% |
DOCUSIGN INC SEDOL BFYT7B7 | 1.31% |
KONINKLIJKE DSM NV SEDOL B0HZL93 | 1.31% |
UNION PACIFIC CORP SEDOL 2914734 | 1.31% |
COOPER COS INC/THE SEDOL 2222631 | 1.30% |
ALPHABET INC-CL C SEDOL BYY88Y7 | 1.25% |
VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.23% |
AXA SA SEDOL 7088429 | 1.20% |
ROPER TECHNOLOGIES INC SEDOL 2749602 | 1.19% |
PRUDENTIAL PLC SEDOL 0709954 | 1.16% |
NEXTERA ENERGY INC SEDOL 2328915 | 1.15% |
BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.11% |
ORSTED A/S SEDOL BYT16L4 | 1.10% |
NXP SEMICONDUCTORS NV SEDOL B505PN7 | 1.09% |
HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.09% |
HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 1.09% |
STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 | 1.01% |
ECOLAB INC SEDOL 2304227 | 1.00% |
GFL ENVIRONMENTAL INC-SUB VT SEDOL BKDT650 | 1.00% |
ALPHABET INC-CL A SEDOL BYVY8G0 | 1.00% |
HEINEKEN NV SEDOL 7792559 | 0.98% |
OKTA INC SEDOL BDFZSP1 | 0.94% |
FIRST REPUBLIC BANK/CA SEDOL B4WHY15 | 0.94% |
AMERICAN TOWER CORP SEDOL B7FBFL2 | 0.94% |
TALEND SA - ADR SEDOL BD39HN6 | 0.93% |
MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 0.93% |
LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 | 0.93% |
ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 0.92% |
NOVOZYMES A/S-B SHARES SEDOL B798FW0 | 0.89% |
APPLIED MATERIALS INC SEDOL 2046552 | 0.77% |
BOSTON PROPERTIES INC SEDOL 2019479 | 0.76% |
ASTRAZENECA PLC SEDOL 0989529 | 0.75% |
ETSY INC SEDOL BWTN5N1 | 0.75% |
FIRST SOLAR INC SEDOL B1HMF22 | 0.68% |
JETBLUE AIRWAYS CORP SEDOL 2852760 | 0.64% |
VAIL RESORTS INC SEDOL 2954194 | 0.63% |
BARRY CALLEBAUT AG-REG SEDOL 5476929 | 0.60% |
AMEREN CORPORATION SEDOL 2050832 | 0.52% |
AVERY DENNISON CORP SEDOL 2066408 | 0.40% |
BECTON DICKINSON AND CO 06.0000 CV PFD | 0.31% |
SNOWFLAKE INC-CLASS A SEDOL BN134B7 | 0.28% |
TREASURY BILL 00.0000 10/27/2020 | 0.06% |
CASH MGMT BILL 00.0000 12/08/2020 | 0.05% |
EUR/USD 12/16/2020 JPMCB | 0.01% |
EUR/USD 12/16/2020 UBS | 0.01% |
TREASURY BILL 00.0000 11/05/2020 | 0.01% |
GBP/USD 12/16/2020 BANKAM | 0.01% |
GBP/USD 12/16/2020 HSBCB | 0.00% |
EUR/USD 12/16/2020 SSBT | 0.00% |
HC BRILLANT SERVICES GMBH P/P | 0.00% |
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
UNEXT.COM LLC CORP (PRIVATE) P/P | 0.00% |
GBP/USD 12/16/2020 BCAP-FX | -0.00% |
Portfolio composition as of 12/31/20
Common stock | 98.02% |
---|---|
Cash and net other assets | 1.98% |
Equity statistics as of 12/31/20
Median market cap | $63.02B |
---|---|
Weighted average market cap | $462.32B |
Price to book | 5.07 |
Price to earnings | 25.54 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Investments in small and/or midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's investment strategy of investing in companies that exhibit a commitment to sustainable business practices may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that do not invest with a sustainable focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Top industry sectors as of 12/31/20
Information technology | 29.96% |
---|---|
Consumer discretionary | 16.02% |
Health care | 12.81% |
Financials | 9.73% |
Industrials | 8.81% |
Materials | 6.77% |
Consumer staples | 5.83% |
Utilities | 4.84% |
Real estate | 2.15% |
Other | 3.08% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
Total expense ratio | 1.03% | 1.78% | 1.78% | 1.28% | 0.66% | 0.78% |
What you pay | 1.03% | 1.78% | 1.78% | 1.28% | 0.66% | 0.78% |
Sales charge
Investment Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
$0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- |
$50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- |
$100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- |
$250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- |
$500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- |
$1M-$4M | 0.00% | -- | -- | -- | -- | -- |
$4M-$50M | 0.00% | -- | -- | -- | -- | -- |
$50M+ | 0.00% | -- | -- | -- | -- | -- |
CDSC
Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R6 | Class Y | |
---|---|---|---|---|---|---|
0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
The S&P 500 Index is an unmanaged index of common stock performance. The Russell 3000 Growth Index is an unmanaged index of those companies in the broad-market Russell 3000 Index chosen for their growth orientation. The Russell 3000 Growth - S&P 500 Linked Benchmark represents performance of the Russell 3000 Growth Index through July 31, 2019 and performance of the S&P 500 Index thereafter. You cannot invest directly in an index.
Consider these risks before investing: The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Investments in small and/or midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's investment strategy of investing in companies that exhibit a commitment to sustainable business practices may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that do not invest with a sustainable focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.