3 Source: Bloomberg LP as of July 30, 2015
Important information
The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. VIX is the ticker symbol for the Chicago Board Options Exchange (CBOE) Volatility Index, which shows the market’s expectation of 30-day volatility.
The VSTOXX® volatility index expresses the fluctuation range expected by the market, that is the implied volatility of the EURO STOXX 50® Index. The EURO STOXX 50 Index, Europe’s leading blue-chip index for the eurozone, provides a blue-chip representation of supersector leaders in the eurozone.
Diversification does not guarantee a profit or eliminate the risk of loss.
The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.