Returns quoted are net of fees. Rates can vary over time. Past performance is not a guarantee of future results.
Explanation of Rates
Annual Yield: Dividend factor exponentially raised to the number of days in the year.
Average Month to Date Yield: The product of the monthly dividend factors exponentially raised to 365/number of days in month. Raising a number exponentially shows the effect of compounding.
Daily Rate: Dividend factor multiplied by the number of days in the year.
Dividend Factor: Portfolio investment income earned for the one day period less expenses divided by the total shares outstanding in the portfolio.
Weighted Average Maturity (WAM): The average maturity of all the securities held in the portfolio. The WAM is kept under 60 days, which further helps to enhance liquidity and limits market price exposure.
Note:
Raising a number exponentially shows the effect of compounding.