Strategy. Under normal market conditions, the fund will invest at least 80% of its net assets in stocks of smaller-capitalization U.S. companies. The portfolio managers consider small companies to be those that, at the time of investment, have a market capitalization not greater than that of the largest company in the Russell 2000 Index. Though the market-capitalization and composition of the Russell 2000 Index are subject to change, as of September 30, 2025, the market-capitalization of the largest company in the Russell 2000 Index was approximately $25.2 billion. The portfolio managers use quantitative and qualitative management techniques in a multi-step process. First, the managers rank stocks, primarily smaller U.S. companies, from most attractive to least attractive based on an objective set … Show more… Under normal market conditions, the fund will invest at least 80% of its net assets in stocks of smaller-capitalization U.S. companies. The portfolio managers consider small companies to be those that, at the time of investment, have a market capitalization not greater than that of the largest company in the Russell 2000 Index. Though the market-capitalization and composition of the Russell 2000 Index are subject to change, as of September 30, 2025, the market-capitalization of the largest company in the Russell 2000 Index was approximately $25.2 billion. The portfolio managers use quantitative and qualitative management techniques in a multi-step process. First, the managers rank stocks, primarily smaller U.S. companies, from most attractive to least attractive based on an objective set of measures, including valuation, quality, growth, and/or sentiment. The portfolio managers then review the output of the quantitative model and also consider other factors, such as economic events, corporate announcements, risk management, transaction costs, and/or liquidity, to build a portfolio that they believe will provide a balance between risk and return. The fund may invest in equity securities issued by real estate investment trusts (REITs). The portfolio managers generally sell a stock when they believe it has become less attractive relative to other opportunities, its risk characteristics outweigh its return opportunity or specific events alter its prospects. The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. This may cause higher transaction costs and may affect performance. It may also result in the realization and distribution of capital gains. Show less