Important information — Bond funds may lose value, as the principal is not guaranteed and the fund's net asset value will fluctuate, as bond prices fluctuate and individual bonds will be bought and sold by the Investment Advisor, resulting in gains or losses. Generally, when interest rates go up, bond prices decline, which will negatively impact the fund's share price. Bond funds are also exposed to credit risk, or the risk that the fund's individual bonds will be downgraded, and inflation risk, or the risk that the rate of the bonds' yield will not provide a positive return over the rate of inflation. • • • — The value of an Exchange Traded Product is derived from other investment instruments such as a commodity, currency, share price or interest rate. Generally, exchange traded products are benchmarked to stocks, commodities, indices or they can be actively managed funds. Exchange traded products include exchange traded funds (ETFs), exchange traded vehicles (ETVs),and exchange traded notes (ETNs). An Exchange Traded Product does not provide investors with entitlements to the underlying security. ETPs are subject to market risk and will fluctuate in value based on movements in the underlying securities. Investors should realize that redemption values of ETPs are based upon the market value at the time of order and not at the net asset value as is the case for mutual funds. Investments in ETPs are subject to management fees. . ' ' . ' . . • — Investing in high yield bonds, which tend to be more volatile than investment grade fixed income securities, is speculative. These bonds are affected by interest rate changes and the creditworthiness of the issuers, and investing in high yield bonds poses additional credit risk, as well as greater risk of default. 0.- • — Such investments may be or become nonperforming after acquisition for a wide variety of reasons. Nonperforming real estate investments may require substantial workout negotiations and / o