If you're having trouble finding a certain term, try our larger Business Glossary . The maximum annual charge deducted from fund assets to pay for distribution and marketing costs.
Maturity represents the date on which a bond's principal is to be repaid.
Morningstar regresses a fund's monthly excess returns against the monthly excess returns of several well-known market indexes. An open-end fund that has closed, either temporarily or permanently, to new investors. This usually occurs when management finds the fund's increasing asset size to be disadvantageous. Sales charges are not included in the expense ratio. To accommodate the largest number of investors, many funds offer separate classes of shares, each carrying different load structures.