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An Exchange-Traded Fund’s (“ETF”) prospectus contains its investment objectives, risks, charges, expenses, and other important information, and should be read and carefully considered before investing. For a current prospectus, visit the Exchange-Traded Funds Center at www.etrade.com/etf.
Consolidation is not right for everyone, so you should carefully consider your options. Before deciding whether to retain assets in a retirement plan account through a former employer, roll them over to a qualified retirement plan account through a new employer (if one is available and rollovers are permitted), or roll them over to an IRA, an investor should consider all his or her options and the various factors including, but not limited to, the differences in investment options, fees and expenses, services, the exceptions to the early withdrawal penalties, protection from creditors and legal judgments, required minimum distributions, the tax treatment of employer stock (if held in the qualified retirement plan account), and the availability of plan loans (i.e., loans are not permitted from IRAs, and the availability of loans from a qualified retirement plan will depend on the terms of the plan). For additional information, view the FINRA Website.
Exchange-traded funds (ETFs) are subject to risks similar to those of other diversified portfolios and investments. Although ETFs are generally designed to provide investment results that generally correspond to the performance of their respective underlying indexes, they may not be able to exactly replicate the performance of the indexes because of expenses and other factors. There may also be brokerage commissions associated with trading ETFs that may negate their low management fees. ETFs are required to distribute their portfolio gains to shareholders at year-end. These gains may be generated by portfolio rebalancing or the need to meet diversification requirements. ETF trading will also generate tax consequences.
Actively-managed ETFs are not guaranteed to accomplish their investment objectives and can lose money.
Smart beta, or strategic beta, funds are exchange-traded funds (ETFs) with components that may be actively managed. Smart beta funds are not a passive market-capitalization index strategy or an alternative to active management. Smart beta funds may have increased fees and expenses compared with passive market-cap index strategy ETFs, may underperform cap-weighted benchmarks, and may be subject to increased portfolio risk.
Investing in securities involves risk, including the possible loss of principal.
Asset allocation and diversification do not guarantee a profit or protect against loss in a declining financial market.
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.
Morgan Stanley and its affiliates do not provide tax advice, and you always should consult your own tax advisor regarding your personal circ*mstances before taking any action that may have tax consequences.
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