Liquid assets that can be easily converted into cash as needed.

For a mutual fund, the Net Asset Value (NAV) is the price per share or unit in the fund. It is calculated as the total value of the securities held in a mutual fund less any liabilities, divided by the number of shares outstanding in the fund. When you buy or sell shares in a mutual fund you do so at the current NAV. The NAV rises and falls as the value of the underlying investments in the fund changes. The NAV is computed daily at the close of each business day.

The total revenue in an accounting period after deducting all expenses (including depreciation, interest and taxes) during the same period.

The price and volume fluctuations that can make it difficult to interpret the market's direction.

A provision of a security that prohibits the issuer from redeeming the security before maturity.

Firm-specific risk resulting from factors that are not associated with the sector or broader market. This risk can be reduced through diversification.