An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies, and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide "circuit breakers" (which are tied to large decreases in stock prices) halts stock trading generally.
Funds whose investments are concentrated in a specific industry or sector may be subject to a higher degree of market risk than funds whose investments are diversified. In addition, the Fund may be subject to specific risks of the technology sector, such as obsolescence.
The Russell Microcap Index measures the performance of the microcap segment of the U.S. equity market. It makes up less than 3% of the U.S. equity market. It includes 1000 of the smallest securities in the small-cap Russell 2000© Index based on a combination of their market cap and current index membership and it includes the next 1,000 securities.
©2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance, rankings and ratings are no guarantee of future results. Rankings and ratings change monthly. Investment return and principal value will fluctuate so that your shares, when redeemed may be worth more or less than their original purchase price.
The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year Morningstar Rating™ metrics.
As of 09/30/2013 the James Balanced: Golden Rainbow was rated against 594, 499, 222, and 594 conservative allocation funds over the 3-, 5-, 10-, and overall number of fundsyear periods respectively. The James Balanced: Golden Rainbow (I) was rated against 594, 499, 222, and 594 conservative allocation funds over the 3-, 5-, 10-, and overall number of fundsyear periods respectively. The James Mid Cap was rated against 363, 303, and 363 mid cap blend funds over the 3-, 5-, and overall number of fundsyear periods respectively. The James Small Cap was rated against 302, 255, 152, and 302 small value funds over the 3-, 5-, 10-, and overall number of fundsyear periods respectively. The James Micro Cap was rated against 302, and 302 funds over the 3-, and overall number of fundsyear periods respectively. The James Balanced: Golden Rainbow has received Morningstar's 4 stars for the three year period, 4 stars for the five year period, and 5 stars for the ten year period. The James Balanced: Golden Rainbow (I) has received Morningstar's 4 stars for the three year period, 4 stars for the five year period, and 5 stars for the ten year period. The James Mid Cap has received Morningstar's 2 stars for the three year period, and 2 stars for the five year period. The James Small Cap has received Morningstar's 4 stars for the three year period, 5 stars for the five year period, and 4 stars for the ten year period. The James Micro Cap has received Morningstar's and 1 stars for the three year period.
Morningstar calculates a Morningstar Rating™ based on Morningstar's risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in a category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately which may cause slight variations in the distribution percentages.) The Morningstar Ratings™ are for the specified share class; other classes may have different performance characteristics.
You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-800-995-2637 or click here to view or download a prospectus online
The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The average annual total returns assume reinvestment of income, dividends and capital gains distributions and reflect changes in net asset value. You should note that the James Advantage Funds are professionally managed mutual funds while the indices are unmanaged, do not incur expenses and are not available for investment.
Mid, Small and Micro Cap investing involve greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat. Fund holdings and sector weightings are subject to change without notice. Past performance is no guarantee of future results.