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.
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. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Past performance is no guarantee of future results.
All total returns assume the reinvestment of all dividend and capital gain distributions at net asset value when paid.
All total returns without sales charge do not reflect the deduction of the current maximum sales charge or the applicable contingent deferred sales charge or any applicable redemption fee.Contact us if you experience any difficulty logging in.No transaction fee, load waived and no load funds are only available in Merrill Edge through a Merrill Edge Self-Directed account or through enrollment in an asset-based fee program offered through Merrill Edge Advisory Center.For specific mutual fund family compensation information, please contact us.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.Based on the service model, the same or similar products, accounts and services may vary in their price or fees charged to a client. Investment funds are subject to market volatility and the risks of their underlying securities.In addition, each fund has its own specific risk profile and investment strategies detailed in its prospectus or other offering material, which must be considered carefully before making an investment decision.Current performance may be lower or higher than the performance quoted.For performance information current to the most recent month end, please contact us.Always read the prospectus or summary prospectus carefully before you invest or send money. While no-load funds do not assess sales charges, fund shares are subject to management fees and certain other expenses. Not all classes of shares may be available to every investor or to every account in that investor's name.Furthermore, those classes of shares that you would be eligible to purchase may be subject to ongoing account maintenance and/or distribution fees, which will affect the performance of such shares. Merrill Lynch receives remuneration from participating fund companies.