A Word About Risk
Mutual fund investing involves risk; loss of principal is possible. Foreign
investments by the underlying funds involve risks, including changing currency
values, different political and regulatory environments and other overall economic
factors in those countries. The underlying funds will also be subject to interest
rate, credit and high-yield risks. Underlying funds that are non-diversified will
invest a larger percentage of their assets in individual companies than a diversified
fund. This will result in greater volatility of a fundÍs share price than a diversified
fund. Derivatives will increase the velocity of potential losses and the underlying
holdings will lose more than the original amount invested in the derivative. Furthermore,
derivatives involve risk that other parties will fail to meet obligations, causing losses.
Investments in debt securities typically decrease in value when interest rates rise. This
risk is usually greater for longer-term debt securities. Investment in lower-rated and
non-rated securities presents a greater risk of loss to principal and interest than higher-rated
securities.ETFs are subject to additional risks that do not apply to conventional mutual funds,
including the risks that the market price of an ETFÍs shares may trade at a discount to its net
asset value (ñNAVî), an active secondary trading market may not develop or be maintained, or trading
may be halted by the exchange in which they trade, which may impact a FundÍs ability to sell its shares.
Please consult your investment professional regarding your particular investment situation. While the
funds invest in noload mutual funds, all mutual funds charge management fees and other operating expenses. Please
click here for a prospectus. The FUNDX Upgrader Funds are distributed by Quasar Distributors, LLC.
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