Understanding First-Quarter Fund Distributions

On March 31, 2026, certain funds made distributions to shareholders.

Shareholders should be aware that the distributions of dividends and/or capital gains will reduce a fund's net asset value (NAV) by the amount of the distribution. Market activity may also impact a fund's NAV on the ex-dividend date, so the total change in a fund's NAV may be more or less than its distribution. The distributions do not affect the fund's total return.

Shareholders with automatic reinvestment will receive their distribution in the form of additional shares.[LC1]

These distributions reflect recent strong price appreciation in these funds and U.S. tax rules requiring the recognition and payout of certain gains.

In particular, a fund's holdings in exploration and development companies that do not yet generate revenue can be classified as Passive Foreign Investment Companies (PFICs). For these holdings, gains-realized or unrealized-must be distributed.

These distributions are a normal part of fund operations.

For additional information, please contact Shareholder Services at 1-800-873-8637, Monday - Friday, from 8:00am - 6:00pm EST.

You can also reach out via email at [email protected].

[LC1]Taken directly from what we posted for the December distributions