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the Morgan Stanley Smith Barney LLC RelationshipSummary.PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.
The fund's prospectus contains its investment objectives, risks, charges, expenses and other important information and should be read and considered carefully before investing. For a current prospectus, visit www.etrade.com/mutualfunds or visit the Exchange-Traded Funds Center at www.etrade.com/etf.
Investing in securities involves risk, including possible loss of principal.
The investments listed may not be appropriate for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment will depend upon an investor's individual circ*mstances and objectives.
Before buying or selling any investment, you should carefully consider your individual financial situation, investment objectives, risk tolerance, and liquidity needs, and consult licensed financial and tax professionals to determine for yourself whether the investment is appropriate for you.
The material provided by Morgan Stanley Smith Barney LLC ("Morgan Stanley") or any of its affiliates, or by a third party not affiliated with Morgan Stanley is for educational purposes only and is not an individualized recommendation. This information, including the identification of specific companies, is for demonstrative purposes only and neither is, nor should be construed as, an offer or a solicitation of an offer, or a recommendation, to buy, sell, or hold any security, financial product, or instrument discussed herein, or to open a particular account or to engage in any specific investment strategy.
All bonds and fixed income products are subject to interest rate risk and you may lose money. Bonds sold by issuers with lower credit ratings may offer higher yields than bonds issued by higher rated or "investment grade" issuers, but are usually associated with higher risks. High yield bonds, also known as "junk bonds", generally have a greater risk of default, which increases the risk that an issuer may be unable to pay interest and principal on the issue. In addition, high yield bonds tend to have higher interest rate risk and liquidity risk, particularly in volatile market conditions, which makes it more difficult to sell the bonds. Before investing in high yield bonds, you should carefully consider and understand the risks associated with investing in high yield bonds.
The municipal market is volatile and can be significantly affected by tax, legislative, or political changes as well as changes to the issuer's financial condition. Interest rate increases can cause the price of a debt security to decrease. Please consult your tax advisor regarding the impact of tax-exempt investments in your portfolio.
There are risks involved with dividend yield investing strategies, such as the company's not paying a dividend or the dividend's being far less than what is anticipated. Other risks include market risk, price volatility, liquidity risk, risk of default, and risk of loss.
Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment. Companies paying dividends can reduce or cut payouts at any time.
Diversification and asset allocation strategies do not ensure profit or protect against loss in declining markets. Investors should assess their own investment needs based on their own financial circ*mstances and investment objectives.
International investing may not be appropriate for every investor and is subject to additional risks, including currency fluctuations, political factors, withholding, lack of liquidity, the absence of adequate financial information, and exchange control restrictions impacting foreign issuers. These risks may be magnified in emerging markets.
Alternative investments are different from more traditional investments, are intended for sophisticated investors and involve a high degree of risk, including the potential loss of some or all of the principal. An investment in an alternative investment product or strategy is speculative and should not constitute a complete investment program. For additional information, please read these FINRA guidelines.
Physical precious metals are non-regulated products. Precious metals are speculative investments which may experience short-term and long-term price volatility. The value of precious metals investments may fluctuate and may appreciate or decline, depending on market conditions. If sold in a declining market, the price you receive may be less than your original investment. Unlike bonds and stocks, precious metals do not make interest or dividend payments. Therefore, precious metals may not be appropriate for investors who require current income. Precious metals are commodities that should be safely stored, which may impose additional costs on the investor. The Securities Investor Protection Corporation (SIPC) provides certain protection for customers’ cash and securities in the event of a brokerage firm’s bankruptcy, other financial difficulties, or if customers’ assets are missing. SIPC insurance does not apply to precious metals or other commodities.
CDs are insured by the FDIC, an independent agency of the U.S. Government, up to a maximum of $250,000 (including principal and accrued interest) for all deposits held in the same insurable capacity (e.g. individual account, joint account, IRA etc.) per CD depository. Investors are responsible for monitoring the total amount held with each CD depository. All deposits at a single depository held in the same insurable capacity will be aggregated for the purposes of the applicable FDIC insurance limit, including deposits (such as bank accounts) maintained directly with the depository and CDs of the depository. For more information visit the FDIC website at www.fdic.gov.
An investment in an exchange-traded fund involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor's ETF shares, if or when sold, may be worth more or less than the original cost.
Prebuilt Portfolios are an educational tool and should not be relied upon as the primary basis for investment, financial, tax-planning, or retirement decisions. This tool provides a sample of possible ETF or mutual fund portfolios based on varying degrees of market risk. These portfolios are not tailored to the investment objectives of a specific investor. This educational information neither is, nor should be construed as, investment advice, financial guidance or an offer or a solicitation or recommendation to buy, sell, or hold any security, or to engage in any specific investment strategy by E*TRADE. These prebuilt portfolios may change at any time and E*TRADE will not notify you when such changes are made.
Important Disclosures for E*TRADE from Morgan Stanley customers: Important disclosures regarding the relationship between the companies that are the subject of Morgan Stanley Research and Morgan Stanley Smith Barney LLC or any of its affiliates, are available on the Morgan Stanley Wealth Management disclosure website at www.morganstanley.com/online/researchdisclosures. For Morgan Stanley specific disclosures, you may refer to www.morganstanley.com/researchdisclosures.
E*TRADE Financial Corporate Services, Inc., and its affiliates do not provide legal, accounting, or tax advice. Always consult your own legal, accounting, and tax advisors.
Securities products and investment advisory services offered by Morgan Stanley Smith Barney LLC, Member SIPC and a Registered Investment Adviser. Commodity futures and options on futures products and services offered by E*TRADE Futures LLC, Member NFA Stock plan administration solutions and services offered by E*TRADE Financial Corporate Services, Inc., and are a part of Morgan Stanley at Work. Banking products and services provided by Morgan Stanley Private Bank, National Association, Member FDIC. All entities are separate but affiliated subsidiaries of Morgan Stanley. E*TRADE from Morgan Stanley and Morgan Stanley at Work are registered trademarks of Morgan Stanley. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors. Statement of Financial Condition | About Asset Protection | Account Agreements and Disclosures | Quarterly 606 Report | Business Resiliency Plan ©currentYear E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy
