SEC YIELD

A yield quotation for mutual funds, based on a calculation established by the SEC. The SEC Yield is an annualized return based on the most recent 30-day period. It divides the net investment income earned (after expenses) by the maximum offering price per share on the last day of the period. The SEC Yield may be more or less than the fund has actually earned in the period. SEC Yield will not necessarily predict future returns. See also Current Yield, Distribution Yield and Yield To Maturity.