Strategy. The funds sub-adviser, Systematic Financial Management, L.P. (the sub-adviser) invests, under normal circumstances, at least 80% of the funds net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of small-capitalization companies. The fund generally considers a small-capitalization company to be a company with a market capitalization within the range of the Russell 2000 Index 1 at the time of initial purchase. As of December 31, 2025, the market capitalization range of the Russell 2000 Index was between $6 million and $ 31.29 billion. The equity securities in which the fund invests are primarily common stocks of U.S. companies. The sub-adviser generally will invest in common stocks of companies with small capitalizations that it views … Show more… The funds sub-adviser, Systematic Financial Management, L.P. (the sub-adviser) invests, under normal circumstances, at least 80% of the funds net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of small-capitalization companies. The fund generally considers a small-capitalization company to be a company with a market capitalization within the range of the Russell 2000 Index 1 at the time of initial purchase. As of December 31, 2025, the market capitalization range of the Russell 2000 Index was between $6 million and $ 31.29 billion. The equity securities in which the fund invests are primarily common stocks of U.S. companies. The sub-adviser generally will invest in common stocks of companies with small capitalizations that it views as attractively valued and possess relatively low price/cash flow ratios, low price/earnings ratios, low price/sales ratios, and/or low price/book ratios. The sub-advisers security selection process generally favors companies with strong operating cash flow, strong free cash flow, limited financial leverage and strong debt coverage. Trends in balance sheet items including inventories, accounts receivable, and payables are scrutinized as well. The sub-adviser also reviews the companys products/services, market position, industry condition, financial and accounting policies, and quality of management. Under normal market conditions, cash and cash equivalents are generally less than 5% of the portfolio value. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors growth stocks. The fund may invest up to 10% of its total assets in the securities of foreign issuers, including American Depositary Receipts (ADRs) and foreign securities trading on U.S. markets. The fund may also invest in real estate investment trusts (REITs) and may invest up to 5% of its total net assets in exchange traded funds (ETFs). 1 Russell and other service marks and trademarks related to the Russell indexes are trademarks of the London Stock Exchange Group companies. Show less