Terms & Indicies

30 Day SEC Yield

This figure reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses.

30 Day SEC Yield (Unsubsidized)

This figure reflects the dividends and interest earned during the period, after the deduction of the Fund’s expenses, excluding fee waivers.

The Alerian Energy Infrastructure Index

Index comprised of 30 core North American energy infrastructure companies that engage in the transportation, storage, and processing of energy commodities. An investor cannot invest directly in an index.

The Alerian MLP Infrastructure Index

Index comprised of 25 midstream energy Master Limited Partnerships and provides investors with an unbiased benchmark for the infrastructure component of this emerging asset class. An investor can not invest directly in an index.

Alpha

A measure of performance on a risk-adjusted basis.

Average Daily Traded Volume

The average amount of individual securities traded in a day or over a specified amount of time.

Basis Point

A unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument.

The BNY Mellon Emerging Asia DR Index

Capitalization-weighted index designed to reflect the performance of a portfolio of emerging market-based US listed ADRs and London Stock Exchange traded GDRs that satisfy the index's coverage requirements. Index constituents and the free-float shares of all the companies in the index will be updated on a quarterly basis. An investor cannot invest directly in an index.

The BNY Mellon Russia Select DR Index

Capitalization-weighted index designed to reflect the performance of a portfolio of emerging market-based US listed ADRs and London Stock Exchange traded GDRs that satisfy the index's coverage requirements. Index constituents and the free-float shares of all the companies in the index will be updated on a quarterly basis. An investor cannot invest directly in an index.

The Banc of America Securities Merrill Lynch Equal Sector Weight Index (BASMLESW)

A U.S. equity index comprised, in equal weights, of nine sub-indices. BASMLESW is a price-return index. An investor cannot invest directly in an index.

The Bank of America Merrill Lynch (BoA ML) 3 Month Treasury Bill Index

An unmanaged index of Treasury securities maturing in 90 days that assumes reinvestment of all income. An investor cannot invest directly in an index.

The Barclay's U.S. Aggregate Bond Index

An unmanaged index composed of securities from the Barclays Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index and the Asset-Backed Securities Index. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. Indices are rebalanced monthly by market capitalization. An investor cannot invest directly in an index.

The Barclays Capital Aggregate Bond Index ("the BarCap Aggregate")

A broad bond index covering most U.S. traded bonds and some foreign bonds traded in the U.S. The BarCap Aggregate was once known as the Lehman Brothers Aggregate Bond Index. An investor cannot invest directly in an index.

The Barclays Capital U.S. Aggregate Bond Index

An unmanaged index composed of securities from the Barclays Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index and the Asset-Backed Securities Index. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. Indices are rebalanced monthly by market capitalization. An investor cannot invest directly in an index.

The Barron's 400℠ Index

Index calculated by Dow Jones Indexes, measures the performance of a diversified group of U.S. companies selected in part based on fundamentals-related rules-based criteria. The index includes companies that have scored highest according to fundamentals-related rankings calculated by MarketGrader. Additional rules-based screening provides for sector and market cap diversification. The index is licensed by Dow Jones Indexes. You cannot invest directly in an index. An investor cannot invest directly in an index.

Beta

A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. The beta of the market is 1.00 by definition. A beta above 1 is more volatile than the overall market, while a beta below 1 is less volatile.

Bloomberg Commodity Index

An unmanaged index used as a measurement of change in commodity market conditions based on the performance of a basket of different commodities. An investor cannot invest directly in an index.

The CNX 500 Index

India's first broad based benchmark of the Indian capital market. The CNX 500 companies are disaggregated into 72 industry indices. Industry weightages in the index reflect the industry weightages in the market. An investor cannot invest directly in an index.

Cohen & Steers Global Realty Majors® Portfolio Index (GRM)

A free-float adjusted, modified market capitalization-weighted index of global real estate equities. The modified market capitalization weighting approach and qualitative screening process emphasize those companies that, in the opinion of the Cohen & Steers investment committee, are leading the securitization of real estate globally. An investor cannot invest directly in an index.

Commodity Swap Contract

A swap in which exchanged cash flows are dependent on the price of an underlying commodity. A commodity swap is usually used to hedge against the price of a commodity.

Correlation

A statistical measure of how two securities move in relation to each other. A measure of 1 means the securities are highly correlated and move in conjunction. A measure of 0 means the securities are not at all correlated and do not move in conjunction.

Dividend Yield

A financial ratio that shows how much a company pays out in dividends each year relative to its share price.

The Dow Jones Relative Risk Indexes

Measure of the performance of conservative, moderate and aggressive portfolios based on incremental levels of potential risk. The indexes are designed to systematically measure various levels of risk relative to the risk of a U.S. all-stock index. Investors can identify an appropriate benchmark as the index that has the most similar historic risk characteristics. An investor cannot invest directly in an index.

The Dow Jones Conservative U.S. Portfolio Index

Index consists of 20% equities and 80% fixed income.

The Dow Jones Moderately Conservative U.S. Portfolio Index

Index consists of 40% equities and 60% fixed income.

The Dow Jones Moderate U.S. Portfolio Index

Index consists of 60% equities and 40% fixed income.

The Dow Jones Moderately Aggressive U.S. Portfolio Index

Index consists of 80% equities and 20% fixed income.

The Dow Jones Aggressive U.S. Portfolio Index

Index consists of 100% stocks.

Duration

A measure of a security's price sensitivity to changes in interest rates. Securities with longer durations are more sensitive to changes in interest rates than securities of shorter durations.

ETF

Exchange Traded Fund

FTSE EPRA/ NAREIT Developed Real Estate Index

An unmanaged market-weighted total return index that consists of many companies from developed markets whose floats are larger than $100 million and which derive more than half of their revenue from property-related activities. Prior to March 23, 2009, the Index was named the FTSE EPRA/NAREIT Global Real Estate Index. An investor cannot invest directly in an index.

Free-float

Free-float methodology market capitalization is calculated by taking the equity's price and multiplying it by the number of shares readily available in the market.

Large STOXX Europe 50 Index

Europe's leading Blue-chip index, provides a representation of supersector leaders in Europe. The index covers 50 stocks from 18 European countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

Liquidity

The degree to which an asset or security can be bought or sold in the market without affecting the asset's price.

MLP

Master Limited Partnership

MOP

Maximum Offering Price

The MSCI China Index

Index constructed according to the MSCI Global Investable Market Index (GIMI) family. The MSCI China Index is part of the MSCI Emerging Markets Index. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI. An investor cannot invest directly in an index.

MSCI EAFE Index

A stock market index that is designed to measure the equity market performance of developed markets outside of the U.S. and Canada.

The MSCI India Index Total Return

A free float weighted equity index developed with a base value of 100 as-of December 31, 1992. The index is not actively managed and does not reflect any deduction for fees, expenses or taxes. An investor cannot invest directly in an index.

Market Neutral Allocation

An investment strategy that aims to produce almost the same profit regardless of market circumstances.

Market Price

Price based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.

Morgan Stanley Capital International's Market Capitalization Weighted Index

Index composed of companies representative of the market structure of 22 developed market countries in North America, Europe, and the Asia/Pacific Region.

The Morningstar Global Allocation Index

Seeks to provide both capital appreciation and income by investing across three areas: global equities, global bonds, and cash. An investor cannot invest directly in an index.

NYSE Arca US Equity High Volatility Put-Write Index

Index which seeks to generate income by selling put options on the most volatile stocks in a given two month period along with interest earned on T-bills.

Net Asset Value (NAV)

NAV is an exchange-traded fund's (ETF) per-share value. The per-share dollar amount of the fund is derived by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.

The Poliwogg Medical Breakthroughs Index

The Poliwogg Medical Breakthroughs Index aims to capture research and development opportunities in the biotechnology and pharmaceutical industries.

The Premium / Discount

The amount (stated in dollars or percent) by which the selling or purchase price of an ETF is greater than (premium) or less than (discount) its face amount/value or net asset value (NAV).

Price to Book Ratio

A ratio used to compare a stock's market value to its book value. Ratio represents equity securities within the Fund's portfolio, and is not intended to demonstrate Fund growth, income earned by the Fund, or distributions made by the Fund.

Price to Cash Flow Ratio

A measure of the market's expectations of a firm's future financial health.

Price to Earnings Ratio using FY2

A price to earnings calculation that includes forward looking earnings estimates but not backward looking earnings data for two years out using FactSet estimates.

Price to Earnings Ratio using FYI

A price to earnings calculation that includes forward looking earnings estimates but not backward looking earnings data for one year out using FactSet estimates.

Price to Sales Ratio

A ratio for valuing a stock relative to its own past performance, other companies or the market itself.

Price/Earnings

A valuation ratio of a company's current share price compared to its per-share earnings.

Primary and Secondary Share Lines

In the case where a company lists more than one share class on an eligible exchange, the share line with higher liquidity (ADTV) is eligible for index inclusion and the primary share line. The share class with lower liquidity is the secondary share line.

REIT

Real Estate Investment Trust

The Red Rocks Global Listed Private Equity Index

Index that includes securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies, master limited partnerships and other vehicles whose principal business is to invest in, lend capital to or provide services to privately held companies. The Red Rocks Global Listed Private Equity Index is managed by the Fund's Sub-Adviser. The Adviser and SubAdviser made this recommendation to the Board because the new index more closely aligns to the Fund's investment strategies and investment restrictions. Information on both indices will be shown for a one-year transition period. An investor cannot invest directly in an index.

Russell 1000 Value Index

Measure of the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

S&P 500® Index

The Standard & Poor's composite index of 500 stocks, a widely recognized, unmanaged index of common stock prices. Index performance does not reflect fund performance. An investor cannot invest directly in an index.

S&P GSCI Commodity Index

Composite index of commodity sector returns which represents a broadly diversified, unleveraged, long-only position in commodity futures. An investor cannot invest directly in an index.

The S-Net Developed Markets Index (ex-Americas)

The World Bank's methodology for identifying High Income Countries is based on the country's gross national income (GNI) per capita. The selection criteria for the universe also includes requirements for sector inclusion, primary exchange listing, minimum market capitalization, share price, average daily trading volume and other factors. An investor cannot invest directly in an index.

The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX)

A portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the "S-Network Emerging Markets Index" "SNEMX"). An investor cannot invest directly in an index.

The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX)

A portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the "S-Network Emerging Markets Index" "SNEMX"). The EDOGX methodology selects the five stocks in each of the ten GICS sectors that make up the universe which offer the highest dividend yields as of the last trading day of November. The fifty stocks that are selected for inclusion in the portfolio are equally weighted. The universe includes stocks whose domicile and primary exchange listings are in countries identified by the World Bank as Upper Middle Income (certain lower middle income countries are also included, as well as stocks traded on the Taiwan Stock Exchange despite non-recognition by the World Bank). The selection criteria for the universe, in addition to the aforementioned country qualifications, also include requirements for sector inclusion, primary exchange listing, minimum market capitalization, share price, average daily trading volume and other factors. An investor cannot invest directly in an index.

The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX)

A portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the "S-Network Emerging Markets Index" "SNEMX"). An investor cannot invest directly in an index.

The S-Network Emerging Sector Dividend Dogs Index (Ticker: EDOGX)

A portfolio of stocks derived from a universe of mainly large capitalization stocks domiciled in emerging markets (the "S-Network Emerging Markets Index" "SNEMX"). The EDOGX methodology selects the five stocks in each of the ten GICS sectors that make up the universe which offer the highest dividend yields as of the last trading day of November. The fifty stocks that are selected for inclusion in the portfolio are equally weighted. The universe includes stocks whose domicile and primary exchange listings are in countries identified by the World Bank as Upper Middle Income (certain lower middle income countries are also included, as well as stocks traded on the Taiwan Stock Exchange despite non-recognition by the World Bank). The selection criteria for the universe, in addition to the aforementioned country qualifications, also include requirements for sector inclusion, primary exchange listing, minimum market capitalization, share price, average daily trading volume and other factors. An investor cannot invest directly in an index.

The S-Network International Sector Dividend Dogs Index (Ticker: IDOGX)

Index designed to serve as a fair, impartial and transparent measure of the performance of international large cap equities with above average dividend yields. An investor cannot invest directly in an index.

Senior-secured and Second Lien Loans and Bonds

Assets pledged as security for these loans and bonds would first be made available to Senior lenders before other investors' demands were met when settling a bankruptcy.

Standard Deviation

An annual statistical measure of the historical volatility, measure of the extent to which returns are spread around their average. A high standard deviation implies greater volatility.

Sterling Tactical Rotation Index

Seeks to provide absolute returns during any market cycle or condition by employing an equally weighted strategic rotation model, trading between commodities, REITs, bonds, international and domestic equities.

STOXX Europe 200 Mid Index

A fixed component number index designed to provide a representation of mid capitalization companies in Europe.

STOXX Europe 200 Small Index

A fixed component index designed to provide a representation of small capitalization companies in Europe.

STOXX Europe Large 200 Index

A fixed component index designed to provide a representation of large capitalization companies in Europe.

STOXX Europe Total Market Index

Represents the Western Europe region as a whole. With a variable number of components, it covers approximately 95 percent of the free float market capitalization across 18 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

Strike

The specified price at which an option contract may be exercised.

Thomson Reuters CRB Commodity Producers Index

A modified capitalization-weighted, float-adjusted, rules-based index designed to track the overall performance of a global universe of listed companies engaged in the production and distribution of commodities and commodity-related products and services in the following sectors: agriculture, base/industrial metals, energy and precious metals. An investor cannot invest directly in an index.

Thomson Reuters/CoreCommodity CRB Index (Total Return)

Unmanaged index used as a measurement of change in commodity market conditions based on the performance of a basket of different commodities. An investor cannot invest directly in an index.

Tilts

Minor adjustments to the allocation.

TMI

Total Market Index

Volatility

A statistical measure of the dispersion of returns for a given security or market index and expressed as a percentage of the stock price, indicating a standard deviation move over the course of a year.

The Workplace Equality IndexTM

An equal weighted index of companies that support lesbian, gay, bisexual and transgender (LGBT) equality in their workplace. For inclusion, a company must score 100% on the Human Rights Campaign Equality Index or, if not found in the Corporate Equality Index, have the verifiable characteristics that would earn them such a score. An investor cannot invest directly in an index.

Yield to Worst

The lowest potential yield that can be received on a bond without the issuer actually defaulting. The yield to worst is calculated by making worst-case scenario assumptions on the issue by calculating the returns that would be received if provisions, including prepayment, call or sinking fund, are used by the issuer.

Zacks Gold Miners Index

Index created by Zacks Index Services ("Index Provider") to provide a means of generally tracking the performance of gold and silver mining companies whose stocks are traded on major U.S. exchanges. An investory cannot invest directly in an index.