WackOSeason

LiveWebcasthostedby:

JeffreyGundlach
ChiefExecutiveOfficer

September12,2017
 FundOfferings

TotalReturnBondFund
RetailandInstitutionalClass
NoLoadMutualFund

Retail Inst.
Nshare Ishare

Ticker DLTNX DBLTX

MinInvestment $2,000 $100,000
MinIRAInvestment $500 $5,000
GrossExpenseRatio 0.72% 0.47%

TheFundsinvestmentobjectives,risks,chargesandexpensesmustbeconsideredcarefullybeforeinvesting.The
statutoryprospectusandsummaryprospectus(ifavailable)containsthisandotherimportantinformationabout
theFunds,anditmaybeobtainedbycalling1(877)3546311/1(877)DLINE11,orvisiting
www.doublelinefunds.com.Readitcarefullybeforeinvesting.
Mutualfundinvestinginvolvesrisk;Principallossispossible.Investmentsindebtsecuritiestypicallydecreaseinvaluewheninterestratesrise.Thisriskisusuallygreaterforlongertermdebtsecurities.
InvestmentsinAssetBackedandMortgageBackedSecuritiesincludeadditionalrisksthatinvestorsshouldbeawareofsuchascreditrisk,prepaymentrisk,possibleilliquidityanddefault,aswellasincreased
susceptibilitytoadverseeconomicdevelopments.Investmentsinlowerratedandnonratedsecuritiespresentagreaterriskoflosstoprincipalandinterestthanhigherratedsecurities.TheFundmayuse
certaintypesofinvestmentderivatives.Derivativesinvolverisksdifferentfrom,andincertaincases,greaterthantheriskspresentedbyhigherratesecurities.TheDoubleLineTotalReturnBondFundintendsto
investmorethan50%ofitsnetassetsinmortgagebackedsecuritiesofanymaturityortype.TheFundtherefore,potentiallyis morelikelytoreacttoanyvolatilityorchangesinthemortgagebackedsecurities
marketplace.
Opinionsexpressedaresubjecttochangeatanytime,arenotforecastsandshouldnotbeconsideredinvestmentadvice.
DoubleLineFundsaredistributedbyQuasarDistributors,LLC.
WhiletheFundsarenoload,managementfeesandotherexpensesstillapply.Pleaserefertotheprospectusforfurtherdetails.
Fundholdingsandsectorallocationsaresubjecttochangeandarenotrecommendationstobuyorsellanysecurity.

91217TRWebcast1
 DoubleLineTotalReturnBondFundPerformance
FundPerformance
Annualized
MonthEndReturns Yearto Since
August31,2017 Aug Date 1Year 3Year 5Year Inception (4610)
Ishare 0.95% 3.93% 2.43% 3.22% 3.38% 6.70%
Nshare 0.83% 2.66% 2.17% 2.93% 3.12% 6.43%
Benchmark* 0.90% 3.64% 0.49% 2.64% 2.19% 3.75%
BBMBSIndex 0.73% 2.55% 0.80% 2.45% 2.09% 3.16%
Annualized
QuarterEndReturns
Yearto Since
June 30,2017
2Q17 Date 1Year 3Year 5Year Inception(4610)
Ishare 1.40% 2.46% 1.41% 3.04% 3.59% 6.65%
Nshare 1.33% 2.33% 1.16% 2.79% 3.33% 6.40%
Benchmark* 0.90% 3.64% 0.49% 2.64% 2.19% 3.75%
BBMBSIndex 0.84% 2.72% 0.06% 2.19% 2.00% 3.07%

SEC30DayYield IShare NShare Performancedataquotedrepresentspastperformance;past

Gross 3.44% 3.19% performancedoesnotguaranteefutureresults.Theinvestment
Net 3.44% 3.19% returnandprincipalvalueofaninvestmentwillfluctuatesothat
ExpenseRatio IShare NShare aninvestor'sshares,whenredeemed,maybeworthmoreor
Gross 0.47% 0.72% lessthantheoriginalcost.Currentperformanceofthefundmay
belowerorhigherthantheperformancequoted.Performance
datacurrenttothemostrecentmonthendmaybeobtainedby
calling2136338200orbyvisitingwww.doublelinefunds.com.
*BloombergBarclaysUSAggregateIndexrepresentssecuritiesthatareSECregistered,taxable,anddollardenominated.TheindexcoverstheUSinvestmentgradefixedratebondmarket,withindexcomponents
forgovernmentandcorporatesecurities,mortgagepassthroughsecurities,andassetbackedsecurities.Thesemajorsectorsaresubdividedintomorespecificindicesthatarecalculatedandreportedonaregular
basis.BBMBSIndex=BloombergBarclaysMortgageBackedSecuritiesindex.Pleaseseeappendixforfurtherdefinition.Itisnot possibletoinvestdirectlyinanindex.
91217TRWebcast2
WebcastAnnouncements

AssetAllocationWebcast October3,2017
JeffreySherman,DoubleLineDeputyCIOwilldiscussDoubleLines CoreBondandFlexibleIncome
Funds
Gotowww.doublelinefunds.com,HomepageunderEvents
1:15pmPDT/4:15pmEDT

ShillerEnhancedCAPEandInternationalCAPEWebcast November14,2017
JeffreySherman,DoubleLineDeputyCIOwilldiscussDoubleLines ShillerEnhancedCAPE and
ShillerEnhancedInternationalCAPE Funds
Gotowww.doublelinefunds.com,HomepageunderEvents
1:15pmPDT/4:15pmEDT

LastWebcastof2017 TotalReturn December5,2017

JeffreyGundlachwilldiscussDoubleLines TotalReturnBondFund
Gotowww.doublelinefunds.com,HomepageunderEvents
1:15pmPDT/4:15pmEDT

ToReceiveTodaysPresentationSlides:
Youcanemailfundinfo@doubleline.com

91217TRWebcast3
OtherAnnouncements
IntellectualPropertyofDoubleLine This presentation represents DoubleLines
intellectual property. No portion of this webcast may be published, reproduced, transmitted or
rebroadcast in any media in any form without the express written permission of DoubleLine.
To receive permission from DoubleLine please contact media@doubleline.com

ShermanShowPodcasts Availableondoubleline.com,iTunes,SoundCloudandGooglePlay
AdvisorUseOnlyWebpageNowAvailableondoublelinefunds.com
Signupandapasswordwillbesenttoyouoncewehaveverifiedyouarearegisteredrep

UpcomingLAEvent DoubleLinewillbehostinganeventinLosAngeleslaterinSeptember.If
youwouldlikemoreinformation,pleasecontactinfo@doubleline.com

91217TRWebcast4
DBLTXPerformance OneYear
OneYearPerformance BBUS Differencein Performancedataquoted
(8222016to8222017) DBLTX Aggregate BasisPoints representspastperformance;
Index (bp) pastperformancedoesnot
Return 2.09 0.38 171 guaranteefutureresults.The
StandardDeviation 2.40 3.13 73 investmentreturnandprincipal
valueofaninvestmentwill
SharpeRatio 0.87 0.12 75 fluctuatesothataninvestor's
DownsideRisk 1.60 2.21 61 shares,whenredeemed,may
SortinoRatio 0.62 0.32 94 beworthmoreorlessthanthe
originalcost.Current
performanceofthefundmay
OneYearPerformance Differencein
BBUSMBS belowerorhigherthanthe
(8222016to8222017) DBLTX BasisPoints
Index performancequoted.
(bp)
Performancedatacurrentto
Return 2.09 0.69 140 themostrecentmonthend
StandardDeviation 2.40 2.59 19 maybeobtainedbycalling213
SharpeRatio 0.87 0.26 61 6338200orbyvisiting
DownsideRisk 1.60 1.83 23 www.doublelinefunds.com.
Sortino Ratio 0.62 0.22 84

Source:DoubleLine.OneyearendingAugust22,2017.
BB=BloombergBarclaysIndex(USAggregateIndexorMBSIndex).Pastperformanceisnoguaranteeoffutureresults.Seeappendixforfurtherdescriptions. Youcannotinvestdirectlyinanindex.
91217TRWebcast5
DBLTXPerformance FiveYears
FiveYearsPerformance DBLTX BBUS Differencein Performancedataquoted
(8222012to8222017) Aggregate BasisPoints representspastperformance;
Index (bp) pastperformancedoesnot
Return 3.42 2.37 105 guaranteefutureresults.The
StandardDeviation 2.50 3.16 66 investmentreturnandprincipal
valueofaninvestmentwill
SharpeRatio 1.36 0.75 61 fluctuatesothataninvestor's
DownsideRisk 1.64 2.20 56 shares,whenredeemed,may
SortinoRatio 1.79 0.85 94 beworthmoreorlessthanthe
originalcost.Current
performanceofthefundmay
FiveYearsPerformance DBLTX BBUSMBS Differencein
belowerorhigherthanthe
(8222012to8222017) Index BasisPoints
performancequoted.
(bp)
Performancedatacurrentto
Return 3.42 2.12 130 themostrecentmonthend
StandardDeviation 2.51 2.58 7 maybeobtainedbycalling213
SharpeRatio 1.36 0.82 54 6338200orbyvisiting
DownsideRisk 1.64 1.97 33 www.doublelinefunds.com.
SortinoRatio 1.79 0.83 96

Source:DoubleLine.FiveyearsendingAugust22,2017.
BB=BloombergBarclaysIndex(USAggregateIndexorMBSIndex).Pastperformanceisnoguaranteeoffutureresults.Seeappendixforfurtherdescriptions. Youcannotinvestdirectlyinanindex.
91217TRWebcast6
DBLTXStatisticsvs.BBUSAggregateIndex
DBLTXvs.BBUSAgg 1Year 5Year Comment
Index Differencein Differencein (Definedby10
BasisPoints BasisPoints basispoints)
(bps) (bps)
Return 171 105 Better
StandardDeviation 73 66 Better
SharpeRatio 75 61 Better
DownsideRisk 61 56 Better
SortinoRatio 94 94 Same

Performancedataquotedrepresentspastperformance;pastperformancedoesnotguarantee
futureresults.Theinvestmentreturnandprincipalvalueofaninvestmentwillfluctuatesothat
aninvestor'sshares,whenredeemed,maybeworthmoreorlessthantheoriginalcost.Current
performanceofthefundmaybelowerorhigherthantheperformancequoted.Performance
datacurrenttothemostrecentmonthendmaybeobtainedbycalling2136338200orby
visitingwww.doublelinefunds.com.

Source:DoubleLine.FiveyearsendingAugust22,2017.
BB=BloombergBarclaysU.S.AggregateIndex.Pastperformanceisnoguaranteeoffutureresults.Seeappendixforfurtherdescriptions. Youcannotinvestdirectlyinanindex.

91217TRWebcast7
TABI
GlobalEconomy

91217TRWebcast8
PMI Eurozonevs.U.S.

Source:Citigroup,Bloomberg
Markit EurozoneManufacturingPMI(PurchaseManagersIndex seasonallyadjusted).PMIisanindicatoroftheeconomichealthofthemanufacturingsectorbasedonfivemajorindicators:neworders,
inventorylevels,production,supplierdeliveriesandtheemploymentenvironment.Youcannotinvestdirectlyinanindex..
91217TRWebcast9
German10yearYieldvs.CPI

Source:Bloomberg
CPI=ConsumerPriceIndexisameasurethatexaminestheweightedaverageofpricesofabasketofgoodsandservices,suchastransportation,foodandmedicalcare.You
cannotinvestdirectlyinanindex.YoY=yearoveryear. 91217TRWebcast10
EuroJunkRallyPushesYieldsBelow
U.S.Treasuries

Source:Bloomberg
BofA MerrillLynchUSTreasuryIndex(G0Q0)TheMerrillLynchUSTreasuryIndextrackstheperformanceofUSdollardenominatedsovereigndebtpubliclyissuedbytheUSgovernmentinitsdomestic
market.Qualifyingsecuritiesmusthaveatleastoneyearremainingtermtofinalmaturity,afixedcouponscheduleandaminimumamountoutstandingof$1billion.BofA MerrillLynchEuroHighYield
Index(HE00)tracksperformanceofEUROdenominatedbelowinvestmentgradecorporatedebtpubliclyissuedintheeurodomesticandEurobondmarkets.
Pleaseseeindexdefinitionsintheappendix.Youcannotinvestdirectlyinanindex. 91217TRWebcast11
TABII U.S.

91217TRWebcast12
U.S.ConferenceBoardLeadingEconomic
Indicator

Source:Bloomberg,DoubleLine
ConferenceBoardU.S.LeadingIndex=Leadingindicatorsincludeeconomicvariablesthattendtomovebeforechangeintheoveralleconomy.Theseindicatorsgiveasenseofthe
futurestateofaneconomy.YoY=yearoveryear.Youcannotinvestdirectlyinanindex.
91217TRWebcast13
ISMManufacturingandServicesPMI

Source:Bloomberg,DoubleLine
PMI=PurchaseManagersIndexisanindicatoroftheeconomichealthofthemanufacturingsector.ThePMIisbasedonfivemajor indicators:neworders,inventorylevels,production,
supplierdeliveriesandtheemploymentenvironment.ISM=InstituteofSupplyManagement.NMI=NonManufacturingIndexisacompositeoffourindicatorswithequalweights:
Businessactivity,NewOrders,EmploymentandSupplierDeliveries.Youcannotinvestdirectlyinanindex.
91217TRWebcast14
CorporateCreditSpreadsandRecessions
% USHYSpreadHeadingintoRecession
20
2001 2007
18
Now(6motoRecession) Now(1yrtoRecession)
16
14
12
10
8
6
4
2
0
378
347
316
285
254
223
192
161
130
99
68
37
6
25
56
87
118
149
180
211
242
273
304
335
366
397
428
459
490
521
TradingDaystoRecession
Source:Bloomberg,DoubleLineasofSeptember11,2017.
USHY=MoodysBondIndicesCorporateBAAIndexareanaverageofthedailyvaluesforthecorrespondingmonthandweeklyvaluesareaveragesforthedailyyieldsofthe
correspondingweek.Youcannotinvestdirectlyinanindex.
91217TRWebcast15
 U.S.LoanGrowthFalling

Source:EricPomboy,MeridianMacroResearch
YoY=yearoveryear.C&I=CommercialandIndustrialloans.Youcannotinvestdirectlyinanindex.
91217TRWebcast16
CommodityPricesvs.Recessions

Source:Bloomberg,DoubleLine
S&PGSCITotalReturnCMEIndex=Isanindexwidelyrecognizedasaleadingmeasureofgeneralcommoditypricemovementsandinflationintheworldeconomy.Youcannotinvest
directlyinanindex.
91217TRWebcast17
 TABIII
FedPolicy

Source:Bloomberg
Bitcoinisavirtualcurrencythatsdecentralized,mathbaseddigitalassetsinwhichtransactionscanbeperformedcryptographicallywithouttheneedforanycentralissuingauthority.
91217TRWebcast18
FedDotsvs.MarketImplied

Source:Bloomberg
Youcannotinvestdirectlyinanindex. 91217TRWebcast19
CoreCPIOnly1.7%(YoY)

Source:Bloomberg
CPI=ConsumerPriceIndexisameasurethatexaminestheweightedaverageofpricesofabasketofconsumergoodsandservice,suchastransportation,foodandmedicalcare.YoY=yearover
year.MoM =Monthovermonth.Youcannotinvestdirectlyinanindex. 91217TRWebcast20
DXYand2018RateHikes

Source:Bloomberg
DXY=TheU.S.DollarindexistheaverageexchangeratesbetweentheUSDandmajorworldcurrencies.BPS=basispoints.Youcannotinvestdirectlyinanindex.
91217TRWebcast21
FedBalanceSheet AsofJune22,2017

Source:JPMorgan
SOMA=FederalReserveSystemOpenMarketAccount

91217TRWebcast22
 ProjectedSOMATreasurySecuritiesMaturity
ProfileAssumesSeptember2017Announcement,
October2017Implementation
$80 Reinvestments
Redemptions
$70
RedemptionCap
AmountofUSTreasuries($Billion)

$60

$50

$40

$30

$20

$10

$0

Source:NewYorkFederalReserve,DoubleLine
SOMA=FederalReserveSystemOpenMarketAccount
January1,2017projectedthroughJuly2021 91217TRWebcast23
 ProjectedSOMAMortgageBackedSecurities
MaturityProfileAssumesSeptember2017
Announcement,October2017Implementation
$35
Reinvestments
$30
Redemptions
RedemptionCap
$25
MBSAmount($Billion)

$20

$15

$10

$5

$0

Source:NewYorkFederalReserve,DoubleLine
SOMA=FederalReserveSystemOpenMarketAccount
January1,2017projectedthroughJuly2021
91217TRWebcast24
CentralBankBalanceSheet(US$)&S&P500
16,000 3,000.0

14,000
2,500.0
JCB
CentralBankBalanceSheets(Billions US$)

12,000
ECB

Fed 2,000.0
10,000
S&P500

S&P500Price
8,000 1,500.0

6,000
1,000.0

4,000

500.0
2,000

Source:BloombergAugust31,2002toJuly31,2017
JCB=JapaneseCentralBank,ECB=EuropeanCentralBank,S&P500=The S&P500 isastockmarket index thattracksthe 500 mostwidelyheldstocksontheNewYorkStock
ExchangeorNASDAQ.Itseekstorepresenttheentirestockmarketbyreflectingtheriskandreturnofalllargecapcompanies. Youcannotinvestdirectlyinanindex. 91217TRWebcast25
U.S.EarningsRevisionsvs.Changesin
EquityPrice January1,2001toJune30,2017

Decoupling
drivenbyQE?

USEquity=S&P500.The S&P500 isastockmarket index thattracksthe 500 mostwidelyheldstocksontheNewYorkStockExchangeorNASDAQ.Itseekstorepresent

theentirestockmarketbyreflectingtheriskandreturnofalllargecapcompanies.QE=QuantitativeEasing.Youcannotinvestdirectlyinanindex.
91217TRWebcast26
CentralBankBalanceSheet
QuantitativeTighteningPredicted

Source:BloombergJanuary1,2008toJune20,2017,Projectedthrough2020.
YoY=yearoveryear.G4=Eurozone,U.S.,U.K.andJapan.Japan.JPM=Japan.MSCIWorldIndexisafreefloatweightedequityindexthatincludesbothemerginganddeveloped
markets.GDPmeasurestheamountofgoodsandservicesproducedwithinagivencountry.Youcannotinvestdirectlyinanindex. 91217TRWebcast27
S&P500%Above200DayMoving
Average

Source:Bloomberg
S&P500.The S&P500 isastockmarket index thattracksthe 500 mostwidelyheldstocksontheNewYorkStockExchangeorNASDAQ.Itseekstorepresenttheentire
stockmarketbyreflectingtheriskandreturnofalllargecapcompanies.Youcannotinvestdirectlyinanindex. 91217TRWebcast28
S&P500vs.S&P500EqualWeight/S&P
500

Source:Bloomberg
S&P500.The S&P500 isastockmarket index thattracksthe 500 mostwidelyheldstocksontheNewYorkStockExchangeorNASDAQcapitalizationweighted..Itseekstorepresent
theentirestockmarketbyreflectingtheriskandreturnofalllargecapcompanies.S&P500EqualweightedistheS&P500weightedequallyandnotbycapitalizationweighted.
Youcannotinvestdirectlyinanindex. 91217TRWebcast29
PricetoSalesRatio:S&P500andS&P
500EqualWeight

Source:Bloomberg
S&P500IndexistheAmericanstocksmarketindexbasedonmarketcapitalizationsof500largestcompanieshavingcommonstockslistedonNYSEandNASDAQ.S&P500Equalweightedisthe
S&P500Indexwithstocksequalweightedinsteadofcapitalizationweighted.PricetoSalesratioiscalculatedbydividingthecompanysmarketcapbytherevenueinthemostrecentyear.You
cannotinvestdirectlyinanindex. 91217TRWebcast30
TABIV
BloodlessVerdictoftheMarket

91217TRWebcast31
 U.S.Dollar(DXY)

Source:Bloomberg
91217TRWebcast32
DXY=TheU.S.DollarspotindexindicatesthevalueoftheUSdollarexchangeratesversusothermajorworldcurrenciesusingpricesform500banks.Youcannotinvestdirectlyinanindex..
DXYPerformanceYearToDate
AsofSeptember11,2017

Source:Bloomberg
Chartforyearsindicated.2017YearToDateisthroughSeptember7,2017.DXY=TheU.S.DollarspotindexindicatesthevalueoftheUSdollarexchangeratesversusothermajorworldcurrenciesusing
pricesform500banks.Youcannotinvestdirectlyinanindex. 91217TRWebcast33
EmergingMarketsvs.DevelopedMarkets
andU.S.Dollar

Source: Datastream, Bloomberg

MSCIEMIndex=Afloatadjustedmarketcapitalizationindexthatconsistsofindicesin23emergingeconomies:Brazil,Chile,China,Colombia,CzechRepublic,Egypt,Greece,
Hungary,India,Indonesia,Korea,Malaysia,Mexico,Peru,Philippines,Poland,Qatar,Russia,SouthAfrica,Taiwan,Thailand, TurkeyandtheUnitedArabEmirates.JPMorganUSD
TradeableCurrencyIndex=Isanindexthatisnotinvestable.IttracksthevolatilityintheU.S.dollar.DM=DevelopedMarket.USD=U.S.Dollar.Youcannotinvestdirectlyinan
index. 91217TRWebcast34
EmergingMarketsMarketCapPerGDP
andCapita

Source:Bloomberg
GDP=GrossDomesticProductistheamountofgoodsandservicesproducedwithinagivencountry.EmergingMarkets=MSCIEMGDP Index=IsaGDPweightedindexdesignedtoreflectthesize
ofacountryseconomyorGDPinEmergingMarkets.DevelopedMarkets=MSCIWorldGDPweightedindexisbasedontheflagship MSCIWorldIndex.Theweightofeachcountryisderivedfrom
itseconomicsizeusingGDPdataacross24DevelopedMarketscountries.Youcannotinvestdirectlyinanindex.
91217TRWebcast35
CAPERatios:S&P500vs.MSCIEmerging
Markets

DataSource:Bloomberg
CAPERatiowasdevelopedbyDr.RobertShiller.ItsthecyclicallyadjustedpricetoearningsratioisavaluationmeasureusuallyappliedtotheU.S.S&P500equitymarket.S&P500IndexistheAmerican
stocksmarketindexbasedonmarketcapitalizationsof500largestcompanieshavingcommonstockslistedonNYSEandNASDAQ..MSCIEMIndexisafreefloatweightedequityindexthatcaptureslarge
andmidcaprepresentationacrossEmergingMarkets(EM)countries.MSCIEMIndex=Afloatadjustedmarketcapitalizationindexthatconsistsofindicesin23emergingeconomies:Brazil,Chile,China,
Colombia,CzechRepublic,Egypt,Greece,Hungary,India,Indonesia,Korea,Malaysia,Mexico,Peru,Philippines,Poland,Qatar,Russia,SouthAfrica,Taiwan,Thailand,TurkeyandtheUnitedArabEmirates.
Youcannotinvestdirectlyinanindex. 91217TRWebcast36
EmergingMarketsEquities
January1,2000toAugust7,2017

Source:JPMorgan
GDPistheamountofgoodsandservicesproducedwithinagivencountry.EM=EmergingMarkets.MSCIEMIndex=Afloatadjustedmarketcapitalizationindexthatconsistsofindices
in23emergingeconomies:Brazil,Chile,China,Colombia,CzechRepublic,Egypt,Greece,Hungary,India,Indonesia,Korea,Malaysia,Mexico,Peru,Philippines,Poland,Qatar,Russia,
SouthAfrica,Taiwan,Thailand,TurkeyandtheUnitedArabEmirates.

91217TRWebcast37
Equitiesvs.Commodities

GSCICommodityIndex=Isawidelyrecognizedleadingmeasureofgeneralpricemovementsandinflationintheworldeconomy. GFC=GlobalFinancialCrisis.S&P500IndexistheAmerican
stocksmarketindexbasedonmarketcapitalizationsof500largestcompanieshavingcommonstockslistedonNYSEandNASDAQ.You cannotinvestdirectlyinanindex.
91217TRWebcast38
BloombergIndustrialMetals(BCOMIN)

BCOMIN=BloombergIndustrialmetalsindexcomposedoffuturescontractsonaluminum,copper,nickelandzinc.Itreflectsthereturnoftheunderlyingfuturespricemovements.SMAV
=Standardmovingaverage.Youcannotinvestdirectlyinanindex. 91217TRWebcast39
GoldSpot
(with200dayMovingAverage)

Source:Bloomberg,DoubleLine
SpotpriceofgoldquotedinTroyounces.SMAV=standardmovingaverage.Youcannotinvestdirectlyinanindex.
91217TRWebcast40
GDXETF(with200dayMovingAverage)

Source:Bloomberg,DoubleLine
GDX=VanEck VectorsGoldMinersExchangeTradedFund(ETF)isanexchangetradedfundtrackingperformanceoftheNYSEArca GoldMinersIndexwhichisamarketcapitalization
weightedindexcomprisedofpubliclytradedcompaniesinvolvedprimarilyintheminingforgoldandsilver.GDXisbeingusedasaproxy.Pleaseseeappendixforfurtherinformation.
SMAV Standardmovingaverage.Youcannotinvestdirectlyinanindex. 91217TRWebcast41
U.S.2YearTreasury

Source:BloombergFinancialServices,DoubleLineCapitalLP
GT02=US2YearTreasuryBond.Youcannotinvestdirectlyinanindex.
91217TRWebcast42
U.S.5YearTreasury

Source:BloombergFinancialServices,DoubleLineCapitalLP
GT5=US5YearTreasuryBond.Youcannotinvestdirectlyinanindex. 91217TRWebcast43
 U.S.10YearTreasury

Source:BloombergFinancialServices,DoubleLineCapitalLP
GT10=US10YearTreasuryBond.Youcannotinvestdirectlyinanindex.

91217TRWebcast44
 U.S.Treasury2sto10s&FedHikingCycles
HikingCycles 2s10s Average
400

300
2YUSTYield 10YUSTYield(bps)

200
March1977 August2017

100

100

200

300

Source:BloombergFinancialServices,DoubleLineCapitalLP
2sto10s=U.S.2yearTreasuryvs.10yearU.S.Treasury.GT10=US10YearTreasuryBond. GT02=2yearU.S.Treasurybond.Youcannotinvestdirectlyinanindex.

91217TRWebcast45
Copper/GoldRatiovs.U.S.Treasury
10yearYield(5yearchart)

Source:Bloomberg
USGG10YrIndex=U.S.10yearTreasury.HG1Comdty =Copper.GC1=Goldfutures.Youcannotinvestdirectlyinanindex. 91217TRWebcast46
 CurrentU.S.10YearYieldsvs.2016low

Source:Bloomberg,DoubleLine
Youcannotinvestdirectlyinanindex.
91217TRWebcast47
U.S.30YearTreasury

Source:BloombergFinancialServices,DoubleLineCapitalLP
GT30=US30YearTreasuryBond.Youcannotinvestdirectlyinanindex.
91217TRWebcast48
TABV
DBLTX

91217TRWebcast49
FixedIncomeMutualFundAssets
OneYear

Source:Bloomberg,DoubleLine
SeeappendixforfurtherFunddescriptions.TheseFundswereselectedastheyareallIntermediatetermbondfundswithamortgagebackedsecuritiesfocus.Thechartillustrates
outflowsfromtheassetclassfortheperiodindicated. 91217TRWebcast50
FixedIncomeMutualFundAssets
LastFiveMonths

Source:Bloomberg,DoubleLine
SeeappendixforfurtherFunddescriptions.TheseFundswereselectedastheyareallIntermediatetermbondfundswithamortgagebackedsecuritiesfocus.Thechartillustrates
outflowsfromtheassetclassfortheperiodindicated. 91217TRWebcast51
FixedIncomeETFAssets

Source:Bloomberg,DoubleLine
SeeappendixforfurtherETFdescriptions.
91217TRWebcast52
JunkBonds(JNK)vs.BBAggregateBond
Index3YearReturns

Source:Bloomberg,DoubleLine
JNK=SPDRBloombergBarclaysHighYieldBondETFisanexchangetradedfundseekinginvestmentresultsthatcorrespondtothepriceandyieldoftheBloombergBarclaysHighYield
VeryLiquidBondIndex.LBUSTRUU=BloombergBarclaysUSAggregateIndex.Youcannotinvestdirectlyinanindex.Seeappendixforfurtherindexdescription.
91217TRWebcast53
JunkBonds(JNK) 5yearswith200day
MovingAverage

Source:Bloomberg,DoubleLine
JNK=SPDRBloombergBarclaysHighYieldBondETFisanexchangetradedfundseekinginvestmentresultsthatcorrespondtothepriceandyieldoftheBloombergBarclaysHighYield
VeryLiquidBondIndexwhichIsacomponentsoftheU.S.CorporateBondIndexdesignedtotrackmoreliquidcomponentoftheUSDdenominated,highyield,fixedratecorporatebond
market.Itisbeingusedasaproxy.SMAV=standardmovingaverage.
91217TRWebcast54
Duration:DBLTXvs.BarclaysU.S.Aggregate
IndexMay31,2010throughAugust31,2017
7.00
DBLTX BarclaysU.S.AggregateIndex
6.00

5.00
Duration(years)

4.00

3.00

2.00

1.00

0.00

Source:DoubleLine,Barclays
BarclaysAGGDuration=BarclaysUSAggregateIndexduration.Durationisameasureofsensitivityofthepriceofafixedincomeinvestmenttoachangeininterestrates.Itsexpressedinyears
91217TRWebcast55
 DBLTXDurationvs.10YearU.S.Treasury
YieldMay31,2010throughAugust31,2017
4.50 4.00%
DBLTXDuration(LHS) 10yearU.S.TreasuryYield(RHS)
4.00 3.50%

3.50
3.00%
3.00
2.50%
Duration(years)

2.50

Percent
2.00%
2.00
1.50%
1.50

1.00%
1.00

0.50 0.50%

0.00%

Source:DoubleLine,Bloomberg
Durationisameasureofsensitivityofthepriceofafixedincomeinvestmenttoachangeininterestrates.Itsexpressedinyears.
91217TRWebcast56
TotalReturnBondFundPortfolioStatistics
Asof8/31/2017

Total Return BarclaysCapitalU.S.

BondFund AggregateIndex
AveragePrice $101.91 $104.25
Duration 3.55 5.93
Average Life 5.05 8.19

PortfoliostatisticsasofAugust31,2017basedonmarketweightedaverages.Subjecttochangewithoutnotice.
Averageprice=Ameasureoftheweightedaveragepricepaidforthesecuritiescalculatedbytakingthepricesanddividingbythenumberofsecuritiesanddoesnotincludecash.Averagepriceshouldnot
beconfusedwithnetassetvalue.
AverageDuration =Durationisusedasariskmeasure.Itmeasuresthepricevolatilityofasecuritygivenachangeininterestratemovements.
AverageLife=Theaveragenumberofyearsthateachdollarofunpaidprincipaldueonthemortgageremainsoutstanding.Averagelifeiscomputedastheweightedaveragetimetothereceiptofallfuture
cashflows,usingastheweightsthedollaramountsoftheprincipalpaydowns.
Source:DoubleLineCapitalLP
Youcannotinvestdirectlyinanindex.Pleaseseeindexdefinitionintheappendix.
91217TRWebcast57
TotalReturnBondFundPortfolio
CompositionBySecurityType

Commercial
MBS,6.8%
Collateralized
NonAgency Loan
ResidentialMBS, Obligations,
24.1% 4.1%

AssetBacked
Agency Securities,3.0%
Collateralized
Mortgage
Obligation Cash,6.7%
(CMO),21.1%
Treasury,3.9%
AgencyPass Treasury
throughs,28.8% Inflation
Protected
Investment Securities(TIPS),
Grade 1.0%
Corporates,
0.5%

PortfoliocompositionasofAugust31,2017.Subjecttochangewithoutnotice.
Source:DoubleLineCapitalLP.Sectorallocationsaresubjecttochangeandshouldnotbeconsideredarecommendationtobuyorsellanysecurity.
Cash =Thevalueofassetsthatcanbeconvertedintocashimmediately.Canincludemarketablesecurities,suchasgovernmentbonds,banker'sacceptances,cashequivalentsonbalancesheetsthatmayinclude
securitiesthatmaturewithin90days.
Government U.S.treasurysecurities.
Agency=MortgagesecuritieswhoseprincipalandinterestguaranteedbytheU.S.GovernmentagencyincludingFannieMae(FNMA)orFreddieMac(FHLMC).
NonAgency=ResidentialMortgagesBondSecuritiesareatypeofbondbackedbyresidentialmortgages.NonAgencymeanstheywereissuedby aprivateissuer.
CMBS =CommercialMortgageBackedSecurities.Securitizedloansmadeoncommercialratherthanresidentialproperty.
CLO =CollateralizedMortgageObligations 91217TRWebcast58
WackOSeason

Presentedby:

JeffreyGundlach
ChiefExecutiveOfficer

September12,2017

91217TRWebcast59
 DoubleLineTotalReturnBondFund(DBLTX)
InvestmentObjective
TheFundsobjectiveistoseektomaximizetotalreturn.

Summary
TheFundinvestsmainlyinmortgagebackedsecuritiesactivelyallocatingbetweenagencyandnonagencysecuritiesinanattempt
toprovidehighincomewhilemaintaininganeutraldurationscenariotodiversifyriskswithintheportfolio.

FundPerformance ExpenseRatio IShare NShare

QuarterEndReturns Annualized Gross 0.47% 0.72%
June 30,2017 SinceInception
1Year 3Year 5Year (4610to63017)
Ishare 1.41% 3.04% 3.59% 6.65%
Nshare 1.16% 2.79% 3.33% 6.40%
Benchmark 0.31% 2.48% 2.21% 3.65%

Performancedataquotedrepresentspastperformance;pastperformancedoesnotguaranteefutureresults.Theinvestmentreturn
andprincipalvalueofaninvestmentwillfluctuatesothataninvestor'sshares,whenredeemed,maybeworthmoreorlessthan
originalcost.Currentperformanceofthefundmaybelowerorhigherthantheperformancequoted.Performancedatacurrenttothe
mostrecentmonthendmaybeobtainedbycalling2136338200orbyvisitingwww.doublelinefunds.com.

Pastperformanceisnoguaranteeoffutureresults.
QuarterEndReturnsofJune30,2017.Subjecttochangewithoutnotice.
Theperformanceinformationshownassumesthereinvestmentofalldividendsanddistributions.
Itisnotpossibletoinvestinanindex.
Source:DoubleLine.

91217TRWebcast60
 TCWTotalReturnBondFund(TGLMX)
InvestmentObjective
TheFundsinvestmentobjectiveistoseektomaximizecurrentincomeandachieveaboveaveragetotalreturnconsistentwith
prudentinvestmentmanagementoverafullmarketcycle.

Summary
Undernormalcircumstances,theFundinvests(exceptwhenmaintainingatemporarydefensiveposition)atleast80%ofthevalue
ofitsnetassetsindebtsecurities.IftheFundchangesthisinvestmentpolicy,itwillnotifyshareholdersinwritingatleast60daysin
advanceofthechange.Debtsecuritiesincludebonds,notesandotherfixedincomeinstrumentsissuedbygovernmentalor
privatesectorissuers.TheFundmayinvestinsecuritizedobligationsofanymaturityortypeguaranteedby,orsecuredbycollateral
thatisguaranteedby,theUnitedStatesGovernment,itsagencies,instrumentalitiesorsponsoredcorporations,andprivately issued
mortgagebackedandassetbackedsecurities.
FundPerformance ExpenseRatio IShare NShare
Annualized Gross 0.60% 0.87%
QuarterEndReturns Net* 0.49% 0.79%
June30,2017 2Q17 YeartoDate 1Year 3Year 5Year 10Year
Ishare 1.34% 2.19% 0.27% 2.24% 3.90% 6.58%
BloombergBarclaysU.SAgg BondIndex 1.45% 2.27% 0.31% 2.48% 2.21% 4.48%

Theperformancedatapresentedrepresentspastperformanceandisnoguaranteeoffutureresults.Totalreturnsinclude
reinvestmentofdividendsanddistributions.Currentperformancemaybelowerorhigherthantheperformancedatapresented.
PerformancedatacurrenttothemostrecentmonthendisavailableontheFundswebsiteatTCW.com.Investmentreturnsand
principalvaluewillfluctuatewithmarketconditions.ThevalueofaninvestmentintheFund,whenredeemed,maybeworthmoreor
lessthanitsoriginalpurchasecost.

Youshouldconsidertheinvestmentobjectives,risks,chargesandexpensesofamutualfundcarefullybeforeinvesting.AFunds
ProspectusandSummaryProspectuscontainthisandotherinformationabouttheFund.ToreceiveaProspectus,pleasecall800386
3829oryoumaydownloadtheProspectusfromtheFundswebsiteatTCW.com.Pleasereaditcarefully.
*EffectiveFebruary29,2016,theAdvisorhascontractuallyagreedtocaptheexpenses(includinginterestandacquiredfundfees andexpenses,ifany)oftheIshareclassoftheFund
at0.49%andtheNshareoftheFundat0.79%untilMarch1,2018Pastperformanceisnoguaranteeoffutureresults.
QuarterEndReturnsofJune30,2017.Subjecttochangewithoutnotice.
InceptionDate:6171993
Theperformanceinformationshownassumesthereinvestmentofalldividendsanddistributions.Itisnotpossibletoinvestinanindex.
91217TRWebcast61
 PIMCOMortgageBackedSecuritiesFund
(PTRIX)
InvestmentObjective
PIMCOMortgageBackedSecuritiesFundoffersattractive,activelymanagedriskadjustedreturnpotentialfrommortgagebacked
securities(MBS) oneofthelargestandmostliquidfixedincomesectors.

Summary
Thefundemploysauniqueapproachtothemortgagebackedsecuritiesmarketthatemphasizesactivelymanagedexposureto
AgencyguaranteedMBS.TheAgencymortgagemarkethasbeenacriticalsourceofexcessreturnsforPIMCOsinceitsfounding,and
thefirmhasadedicatedteamofcareermortgageportfoliomanagers.Thefundhasadisciplinedfocusonvalueandsecurity
selectionwhichissupportedbyasophisticated,analyticalplatformthathelpsidentifymispricedsecuritiespresentingattractive
investmentopportunities.
FundPerformance
Annualized
QuarterEndReturns
June30,2017 2Q17 YeartoDate 1Year 3Year 5Year 10Year 15Year
Ishare 1.42% 2.58% 2.08% 3.11% 2.85% 5.08% 4.93%
BloombergBarclaysU.S.MBSFixedRateIndex 0.88% 1.35% 0.06% 2.18% 2.00% 4.36% 4.28%

ExpenseRatio IShare
Gross 0.50%
Performancequotedrepresentspastperformance.Pastperformanceisnotaguaranteeorareliableindicatoroffutureresults.
Investmentreturnandtheprincipalvalueofaninvestmentwillfluctuate.Sharesmaybeworthmoreorlessthanoriginalcostwhen
redeemed.Currentperformancemaybelowerorhigherthanperformanceshown.Forperformancecurrenttothemostrecentmonth
end,visitPIMCO.comorbycalling88887PIMCO.

Investorsshouldconsidertheinvestmentobjectives,risks,chargesandexpensesofthefundscarefullybeforeinvesting.Thisandother
informationarecontainedinthefundsprospectusandsummaryprospectus,ifavailable,whichmaybeobtainedbycontactingyour
PIMCOrepresentative.Pleasereadthemcarefullybeforeyouinvestorsendmoney

Pastperformanceisnoguaranteeoffutureresults.
QuarterEndReturnsofJune30,2017.Subjecttochangewithoutnotice.
InceptionDate:7311997
Theperformanceinformationshownassumesthereinvestmentofalldividendsanddistributions.
Itisnotpossibletoinvestinanindex. 91217TRWebcast62
JPMorganMortgageBackedSecuritiesFund
(OMBIX)
InvestmentObjective
TheJPMorganMortgageBackedSecuritiesFundisdesignedtodelivertotalreturnthroughinvestinginadiversifiedportfolioof
mortgagebackedsecurities.

Summary
Thefundinvestsprimarilyinmortgagebackedsecurities,utilizingadiversifiedportfolioofdebtsecuritiesbackedbypoolsof
residentialand/orcommercialmortgages.Thefundseeksmarketsectorsandindividualsecuritiesthatitbelieveswillperformwell
overtime.

FundPerformance
Annualized
QuarterEndReturns
June30,2017 1Year 3Year 5Year 10Year
Ishare 0.93% 2.64% 2.53% 5.24%
BloombergBarclaysU.S.MBSIndex 0.06% 2.18% 2.00% 4.31%

ExpenseRatio IShare
Gross 0.73%
Net 0.40%

Performancequotedispastperformanceandisnoguaranteeoffutureresults.Investmentreturnsandprincipalvaluewillfluctuate,
soshares,whensold,maybeworthmoreorlessthanoriginalcost.Currentperformancemaybehigherorlowerthanreturnsshown.
Call1800480 4111formostrecentmonthendperformance.
ContactJPMorganDistributionServices,Inc.at1800 4804111foraprospectus.Carefullyconsiderthefundsobjectives,risks,
chargesandexpensesbeforeinvesting.Theprospectuscontainsthisandotherfundinformation.Readitcarefullybeforeinvesting.
QuarterEndReturnsofJune30,2017.Subjecttochangewithoutnotice.
SinceInceptiondate:12311983
Theperformanceinformationshownassumesthereinvestmentofalldividendsanddistributions.
Itisnotpossibletoinvestinanindex. 91217TRWebcast63
 SPDRBarclaysHighYieldBondETF(JNK)
InvestmentObjective&Summary
TheinvestmentobjectiveoftheSPDRBarclaysHighYieldBondETFseekstoprovideinvestmentresultsthat,beforefeesandexpenses,
correspondsgenerallytothepriceandyieldperformanceoftheBarclaysHighYieldVeryLiquidIndex.TheETFinvestsinU.S.highyield
bonds.
TheBarclaysHighYieldVeryLiquidIndexisdesignedtomeasuretheperformanceofpubliclyissuedU.S.dollardenominatedhighyieldcorporatebondswithaboveaverage
liquidity.Highyieldsecuritiesaregenerallyratedbelowinvestmentgradeandarecommonlyreferredtoas"junkbonds."The IndexincludespubliclyissuedU.S.dollar
denominated,noninvestmentgrade,fixedrate,taxablecorporatebondsthathavearemainingmaturityofatleastoneyear,regardlessofoptionality,areratedhighyield
(Ba1/BB+/BB+orbelow)usingthemiddleratingofMoody'sInvestorsService,Inc.,FitchInc.,orStandard&Poor's,Inc.Respectively,andhave$500millionormoreofoutstanding
facevalue

ImportantRiskInformation Ingeneral,ETFscanbeexpectedtomoveupordowninvaluewiththevalueoftheapplicableindex.AlthoughETFsharesmaybeboughtandsoldonthe
exchangethroughanybrokerageaccount,ETFsharesarenotindividuallyredeemablefromtheFund.InvestorsmayacquireETFsand tenderthemforredemptionthroughtheFundin
CreationUnitAggregationsonly.Pleaseseetheprospectusformoredetails.
Bondfundscontaininterestraterisk(asinterestratesrisebondpricesusuallyfall);theriskofissuerdefault;issuercreditrisk;liquidityrisk;andinflationrisk.
Investinginhighyieldfixedincomesecurities,otherwiseknownas"junkbonds"isconsideredspeculativeandinvolvesgreaterriskoflossofprincipalandinterestthaninvestingin
investmentgradefixedincomesecurities.Theselowerqualitydebtsecuritiesinvolvegreaterriskofdefaultorpricechangeduetopotentialchangesinthecreditqualityoftheissuer.
TheFundinvestsbysamplingtheIndex,holdingarangeofsecuritiesthat,intheaggregate,approximatesthefullIndexintermsofkeyriskfactorsandothercharacteristicswhichmay
causethefundtoexperiencetrackingerrorsrelativetoperformanceoftheIndex.
Distributor:StateStreetGlobalMarkets,LLC,memberFINRA,SIPC,awhollyownedsubsidiaryofStateStreetCorporation.ReferencestoStateStreetmayincludeStateStreet
Corporationanditsaffiliates.CertainStateStreetaffiliatesprovideservicesandreceivefeesfromtheSPDRETFs.

Beforeinvesting,considerthefunds'investmentobjectives,risks,chargesandexpenses.Toobtaina
prospectusorsummaryprospectuswhichcontainsthisandotherinformation,call18667872257or
talktoyourfinancialadvisor.Readitcarefullybeforeinvesting.
JNKisdistributedbyStateStreetGlobalMarkets,LLC

91217TRWebcast64
 iBOXX HighYieldCorporateBondETF(HYG)
InvestmentObjective
TheiShares iBoxx $HighYieldCorporateBondETFseekstotracktheinvestmentresultsofanindexcomposedofU.S.dollardenominated,high
yieldcorporatebonds.

Investinginvolvesrisk,includingpossiblelossofprincipal.TheiShares EnhancedETFs,iShares ShortMaturityBondETF,iShares LiquidityIncomeETFandtheiShares

InterestRateHedgedETFsareactivelymanagedfundsanddonotseektoreplicatetheperformanceofaspecifiedindex.TheFundsmayhaveahigherportfolio
turnoverthanfundsthatseektoreplicatetheperformanceofanindex.Fixedincomerisksincludeinterestrateandcreditrisk.Typically,wheninterestratesrise,
thereisacorrespondingdeclineinbondvalues.Creditriskreferstothepossibilitythatthebondissuerwillnotbeabletomakeprincipalandinterestpayments.
Noninvestmentgradedebtsecurities(highyield/junkbonds)maybesubjecttogreatermarketfluctuations,riskofdefaultorlossofincomeandprincipalthan
higherratedsecurities.
TheiShares ShortMaturityBondETFwillinvestinprivatelyissuedsecuritiesthathavenotbeenregisteredundertheSecuritiesActof1933andasaresultaresubject
tolegalrestrictionsonresale.Privatelyissuedsecuritiesarenottradedonestablishedmarketsandmaybeilliquid,difficulttovalueandsubjecttowidefluctuations
invalue.DelayordifficultyinsellingsuchsecuritiesmayresultinalosstotheiShares ShortMaturityBondETF.Thefundmayinvestinassetbacked(ABS)and
mortgagebackedsecurities(MBS)whicharesubjecttocredit,prepaymentandextensionrisk,andreactdifferentlytochangesininterestratesthanotherbonds.
SmallmovementsininterestratesmayquicklyreducethevalueofcertainABSandMBS.SharesofETFsareboughtandsoldatmarketprice(notNAV)andarenot
individuallyredeemedfromtheFund.Brokeragecommissionswillreducereturns.Marketreturnsarebaseduponthemidpointof thebid/askspreadat4:00p.m.
Easterntime(whenNAVisnormallydeterminedformostETFs),anddonotrepresentthereturnsyouwouldreceiveifyoutradedsharesatothertimes.Forthe
prospectuspleasecall18008820052.

CarefullyconsidertheFunds'investmentobjectives,riskfactors,andchargesandexpensesbeforeinvesting.Thisand
otherinformationcanbefoundintheFunds'prospectusesor,ifavailable,thesummaryprospectuseswhichmaybe
obtainedbyvisitingtheiSharesETF andBlackRockFund prospectuspages.Readtheprospectuscarefullybefore
investing.
HJYisdistributedbyBlackRock

91217TRWebcast65
iSharesJPMorganUSDEmergingMarkets
BondETF(EMB)
InvestmentObjective&Summary
TheiSharesJ.P.MorganUSDEmergingMarketsBondETFseekstotracktheinvestmentresultsofanindexcomposedofU.S.dollar
denominated,emergingmarketbonds

GivesexposuretoU.S.dollardenominatedbondsissuedbyemergingmarketcountriesacrossthesovereigndebtof30+EMcountries.

CarefullyconsidertheFund'sinvestmentobjectives,riskfactors,andchargesandexpensesbeforeinvesting.Thisandother
informationcanbefoundintheFund'sprospectus,andifavailable,summaryprospectus,whichmaybeobtainedbycalling1800
iShares(18004742737)orbyvisitingwww.iShares.comorwww.blackrock.com.Readtheprospectuscarefullybeforeinvesting.
Investinginvolvesrisk,includingpossiblelossofprincipal.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers
to the possibility that the bond issuer will not be able to make principal and interest payments.
International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial
volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/ developing markets or in
concentrations of single countries.
Historical fund data prior to 4/3/2017 is based on foreign currency exchange (FX) rates corresponding to 4:00AM, eastern time; fund data on and after 4/3/
2017 is based on FX rates corresponding to 4:00PM, London time.
Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown.
Performance would have been lower without such waivers.
Diversification may not protect against market risk or loss of principal. Shares of iShares Funds are bought and sold at market price (not NAV) and are not
individually redeemed from the Fund. Brokerage commissions will reduce returns.
Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses.
Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.
"Acquired Fund Fees and Expenses" reflect the Fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds,
such as mutual funds, business development companies, or other pooled investment vehicles. AFFE are reflected in the prices of the acquired funds and
thus included in the total returns of the Fund.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").
J.P. Morgan is a trademark of JPMorgan Chase & Co. and has been licensed for use by BlackRock. The iShares Funds are not sponsored, endorsed,
issued, sold or promoted by JPMorgan Chase & Co. This company does not make any representation regarding the advisability of investing in the Funds.
BlackRock is not affiliated with the company listed above.
2017 BlackRock. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock Inc, or its subsidiaries.

91217TRWebcast66
 VanEck VectorsGoldMinersETF(GDX)
InvestmentObjective&Summary
VanEck Vectors Gold Miners ETF (GDX) seeks to replicate as closely as possible, before fees and
expenses, the price and yield performance of the NYSE Arca Gold Miners Index (GDMNTR), which is
intended to track the overall performance of companies involved in the gold mining industry.

An investment in the Fund may be subject to risks which include, among others, competitive pressures, dependency on the price of gold and silver bullion which may fluctuate substantially
over short periods of time, periods of outperformance and underperformance of traditional investments such as bonds and stocks, and natural disasters, all of which may adversely affect
the Fund. Foreign investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, and changes in
currency exchange rates which may negatively impact the Fund's return. Small and mediumcapitalization companies may be subject to elevated risks. The Fund's assets may be
concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.
The NYSE Arca Gold Miners Index (GDMNTR), a trademark of NYSE or its affiliates (NYSE), is licensed for use by Van Eck Associates Corporation in connection with VanEck Vectors Gold
Miners ETF (GDX). GDX is not sponsored, endorsed, sold or promoted by NYSE and NYSE makes no representation as to the accuracy and/or completeness of GDMNTR or results to be
obtained by any person from using GDMNTR in connection with trading the Fund.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized brokerdealers in large, specified blocks of shares called "creation
units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage
expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown
because of differences in timing, the amount invested, and fees and expenses.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and
expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit
vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not
addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would
be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particularsituationand
jurisdiction.
DoubleLineTotalReturnBondFundowns0%ofGDXasofSeptember12,2017.

91217TRWebcast67
Definitions
BloombergBarclaysCapitalUSAggregateIndex TheBarclaysCapitalUSAggregateIndexrepresentssecuritiesthatareSECregistered,taxable,anddollardenominated.Theindex
coverstheUSinvestmentgradefixedratebondmarket,withindexcomponentsforgovernmentandcorporatesecurities,mortgagepassthroughsecurities,andassetbacked
securities.Thesemajorsectorsaresubdividedintomorespecificindicesthatarecalculatedandreportedonaregularbasis.
BloombergBarclaysCapitalUSMBSIndex TheBarclaysCapitalUSMBSIndexrepresentstheMBScomponentoftheBloombergBarclaysUSAggregateIndex.
BloombergBarclaysCapitalUSTreasuryIndex ThisindexistheUSTreasurycomponentoftheUSGovernmentindex.PublicobligationsoftheUSTreasurywitharemaining
maturityofoneyearormore.
BloombergBarclaysCapitalUSTreasury10YearIndex Thisindexisthe10yearcomponentoftheUSGovernmentindex.
BloombergBarclaysCapitalCapitalUSTreasury30YearIndex Thisindexisthe30yearcomponentoftheUSGovernmentindex.
BloombergBarclaysCapitalUSHighYieldIndex TheBarclaysCapitalUSHighYieldIndexcoverstheuniverseoffixedrate,noninvestmentgradedebt.Eurobondsanddebtissuer
fromcountriesdesignatedasemergingmarkets(e.g.Argentina,Brazil,Venezuela,etc.)areexcluded,butCanadianandglobal bonds(SECregistered)ofissuersinnonEMGcountries
areincluded.Originalissuezereos,stepupcouponstructures,144Asandpayinkind(PIK,asofOctober1,2009)arealsoincluded.
BofAMerrillLynchUSGovernmentIndex(GOAO) TheMerrillLynchUSGovernmentIndextrackstheperformanceofUSgovernment(i.e.securitiesintheTreasuryandAgency
indices.)
BofA MerrillLynchUSCorporateIndex(COAO)InvestmentGrade TheMerrillLynchCorporateIndextrackstheperformanceofUSdollardenominatedinvestmentgrade
corporatedebtpubliclyissuedintheUSdomesticmarket.Qualifyingsecuritiesmusthaveaninvestmentgraderating(basedonanaverageofMoodys,S&PandFitch)andan
investmentgraderatedcountryofrisk(basedonanaverageofMoodys,S&PandFitchforeigncurrencylongtermsovereigndebtratings).Securitiesmusthaveatleastoneyear
remainingtermtofinalmaturity,afixedcouponscheduleandaminimumamountoutstandingof$250MM.
CRBCommodityIndex(CRY) Anunweightedgeometricaverageofsomeimportantcommodities.Itaveragespricesacross17commoditiesandacrosstime.Theindextracksenergy,
grains,industrials,livestock,preciousmetals,andagriculturals.
S&P500(SPX) S&P500isafreefloatcapitalizationweightedindexpublishedsince1957ofthepricesof500largecapcommonstocksactively tradedintheUnitedStates.
StandardDeviation Sigma=standarddeviation.Itshowshowmuchvariationthereisfromtheaverage(mean,orexpected/budgetedvalue).Alow standarddeviationindicated
thatthedatapointtendtobeveryclosetothemean,whereashighstandarddeviationindicatedthatthedateisspreadoutoveralargerangeofvalues.
DowJones UBSDJCommodityIndex TheDowJonesUBS CommodityindexiscomposedofcommoditiestradedonU.S.exchanges,withtheexceptionofaluminum,nickeland
zinc,whichtradeontheLondonMetalExchange(LME).
Copper=CopperSpotPrice(HGI)Copperistheworldsthirdmostusedmetalbehindironandaluminumprimarilyusedinhighlycyclicalindustriesincludingconstructionand
industrialmachinerymanufacturing.SpotpricequotedinUSD/lb.
Gold=GoldSpotPrice(Golds)TheGoldSpotpriceisquotedasUSDollarperTroyOunce.
CrudeOil=Crudeoilvariesgreatlyinappearancedependingonitscomposition.WestTexasintermediate(WTI)=Texaslightsweetcrudeisusedasabenchmarkinoilpricing.Its
lightbecauseofthelowdensityandsweetbecauseoflowsulfur.Brentcrude=Isamajortradingclassificationofsweetlightcrude.BrentistheoilmakeralsoknownasBrent
Blend.
VolatilityIndex(VIX)TheVIXshowsthemarket'sexpectationof30dayvolatility.Itisconstructedusingtheimpliedvolatilitiesofawiderangeof S&P500indexoptions. This
volatilityismeanttobeforwardlookingandiscalculatedfrombothcallsandputs. TheVIXisawidelyusedmeasureofmarket riskandisoftenreferredtoas the"investorfear
gauge".
Spread Spreadisthepercentagepointdifferencebetweenyieldsofvariousclassesofbondscomparedtotreasurybonds.
YieldtoMaturity(YTM) Thediscountrateatwhichthesumofallfuturecashflowsfromthebond(couponsandprincipal)isequaltothepriceofthe bond.TheYTMcalculation
takesintoaccountthebondscurrentmarketprice,parvalue,couponinterestrateandtimetomaturity.Itisalsoassumedthatallcouponpaymentsarereinvestedatthesamerate
asthebondscurrentyield.

91217TRWebcast68
Definitions
BofAMerrillLynchUSDollarEmergingMarketsSovereignPlusIndex(IGOV)
ThisindextrackstheperformanceofUSdollardenominatedemergingmarketandcrossoversovereigndebtpubliclyissuedintheeurobondorUSdomesticmarket.Qualifying
countriesmusthaveaBB1orlowerforeigncurrencylongtermsovereigndebtrating(basedonanaverageofMoodys,S&P,andFitch).
BofAMerrillLynchU.S.HighYieldCashPayIndex(J0A0)BelowInvestmentGrade
TheMerrillLynchHighYieldIndextrackstheperformanceofUSdollardenominatedbelowinvestmentgradecorporatedebt,currentlyinacouponpayingperiod,thatispubliclyissued
intheUSdomesticmarket.Qualifyingsecuritiesmusthaveabelowinvestmentgraderating(basedonanaverageofMoodys,S&PandFirthforeigncurrencylongtermsovereigndebt
ratings).Musthaveoneyearremainingtofinalmaturityandaminimumoutstandingamountof$100MM.
BofA MerrillLynchU.S.HighYieldIndex(H0A0)
TheMerrillLynchHighYieldIndextrackstheperformanceofUSdollardenominatedbelowinvestmentgradecorporatedebtpubliclyissuedintheUSdomesticmarket.Qualifying
securitiesmusthaveabelowinvestmentgraderating(basedonaverageofMoodys,S&PandFitch)atleast18monthstofinalmaturityattimeofissueofissuance,afinalmaturity,a
fixedcouponscheduleandaminimumamountoutstandingof$100MM.
BofA MerrillLynchU.S.HighYieldExcludingEnergy,MetalsandMiningIndex(HXNM)
TheMerrillLynchHighYieldIndextrackstheperformanceofUSdollardenominatedbelowinvestmentgradecorporatedebtpubliclyissuedintheUSdomesticmarket excluding
energy,metalsandmining.
BofA MerrillLynchInternationalGovernmentIndex(NOGO)
TheMerrillLynchInternationalIndextrackstheperformanceofAustralia,Canadian,French,German,Japan,Dutch,SwissandUKinvestmentgradesovereigndebtpubliclyissuedand
denominatedintheissuersowndomesticmarketandcurrency.Qualifyingsecuritiesmusthaveatleastoneyearremainingtermtofinalmaturity,afixedcouponscheduleanda
minimumamountoutstanding.
BofAMerrillLynchMortgageBackedSecuritiesIndex(MOA0)
ThisindextrackstheperformanceofUSdollardenominatedfixedrateandhybridresidentialmortgagepassthroughsecuritiespubliclyissuedbyUSagenciesintheUSdomestic
market.30year,20year,15yearandinterestonlyfixedratemortgagepoolsareincludedintheIndexprovidedtheyhaveatleastoneyearremainingtermtofinalmaturityanda
minimumamountoutstandingofatleast$5billionpergenericcouponand$250MMperproductionyearwithineachgenericcoupon.
BloombergBarclaysCapitalGlobalEmergingMarketsIndex TheBarclaysCapitalGlobalEmergingMarketsIndexrepresentstheunionoftheUSDdenominatedUSEmergingMarkets
indexandthepredominatelyEURdenominatedPanEuroEmergingMarketsIndex,coveringemergingmarketsinthefollowingregions: Americas,Europe,MiddleEast,Africa,andAsia.
AswithotherfixedincomebenchmarksprovidedbyBarclaysCapital,theindexisrulesbased,whichallowsforanunbiasedviewofthemarketplaceandeasyreplicability.
JPMorganInvestmentGradeCorporateIndex JPMorganInvestmentGradeCorporateIndexincludesperformanceofUSdollardenominatedinvestmentgradecorporatedebt
publiclyissuedintheUSdomesticmarket.Qualifyingsecuritiesmusthaveaninvestmentgraderating(basedonanaverageof Moodys,S&PandFitch)andaninvestmentgraderated
countryofrisk(basedonanaverageofMoodys,S&PandFitchforeigncurrencylongtermsovereigndebtratings).Securities musthaveatleastoneyearremainingtermtofinal
maturity,afixedcouponscheduleandaminimumamountoutstandingof$250MM.
DrawDown Thepeaktotroughdeclineduringaspecificrecordperiodofaninvestment,fundorcommodity.Adrawdownisusuallyquotedasthepercentagebetweenthepeakand
thetrough.
SharpeRatio Ameasurethatindicatestheaveragereturnminustheriskfreereturndividedbythestandarddeviationofreturnonaninvestment.
Sorintino Ratio IsavariationoftheSharperatiothatdifferentiatesharmfulvolatilityformthetotaloverallvolatilitybyusingtheassetsstandarddeviationofnegativeassetreturns,
calleddownsidedeviation.TheSorintino ratiotakestheassetsreturnandsubtractstheriskfreerate,thendividesthatamountbytheassetsdownsidedeviation.
NAV Amutualfund'spricepershareorexchangetradedfund's(ETF)persharevalue.Inbothcases,thepersharedollaramountof thefundiscalculatedbydividingthetotalvalueof
allthesecuritiesinitsportfolio,lessanyliabilities,bythenumberoffundsharesoutstanding.
CMO Atypeofmortgagebackedsecuritythatcreatesseparatepoolsofpassthroughratesfordifferentclassesofbondholderswith varyingmaturities,calledtranches.The
repaymentsfromthepoolofpassthroughsecuritiesareusedtoretirethebondsintheorderspecifiedbythebonds'prospectus
TIPS TreasuryInflationProtection.Atreasurysecuritythatisindexedtoinflationinordertoprotectinvestorsfromthenegativeeffectsofinflation.TIPSareconsideredanextremely
lowriskinvestmentsincetheyarebackedbytheU.S.governmentandsincetheirparvalueriseswithinflation,asmeasuredbytheConsumerPriceIndex,whiletheirinterestrate
remainsfixed.
CPI ConsumerPriceIndex.Ameasurethatexaminestheweightedaverageofpricesofabasketofconsumergoodsandservices,such astransportation,foodandmedicalcare.
CashFlow Cashflowmeasuresthecashgeneratingcapabilityofacompanybyaddingnoncashcharges(e.g.depreciation)andinterestexpensetopretaxincome.
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Definitions
BofA/MerrillLynchHighYieldCashPayCCCratedIndex(JOA3) .AcomponentoftheBofA/MerrillLynchHighYieldCashPayIndexconcentratingonCCCratedHighYieldcredit
only.
BofA/MerrillLynchHighYieldCashPayBBratedIndex(JOA1) .AcomponentoftheBofA/MerrillLynchHighYieldCashPayIndexconcentratingonBBratedHighYieldcredit
only.
BofA/MerrillLynchHighYieldCashPayBratedIndex(JOA2) .AcomponentoftheBofA/MerrillLynchHighYieldCashPayIndexconcentratingonBratedHighYieldcreditonly.
BofA/MerrillLynchCreditIndexBBBratedIndex(COA4) .AcomponentoftheBofA/MerrillLynchCreditIndexconcentratingonthelowerratedBBBinvestmentgradecredits.
BofA/MerrillLynchCreditIndexAratedIndex(COA3) .AcomponentoftheBofA/MerrillLynchCreditIndexconcentratingontheAratedinvestmentgradecredits.
BofA/MerrillLynchCreditIndexAAAratedIndex(COA1) .AcomponentoftheBofA/MerrillLynchCreditIndexconcentratingonthehighestratedAAAinvestmentgradecredits.
BofAMerrillLynchUSTreasuryIndex(G0Q0)TheMerrillLynchUSTreasuryIndextrackstheperformanceofUSdollardenominatedsovereigndebtpubliclyissuedbytheUS
governmentinitsdomesticmarket.Qualifyingsecuritiesmusthaveatleastoneyearremainingtermtofinalmaturity,afixedcouponscheduleandaminimumamountoutstanding
of$1billion.
BofAMerrillLynchUS1015YearTreasuryIndexLongTreasuryTheMerrillLynchUS1015TreasuryIndextrackstheperformanceofUSdollardenominated1015yearsovereign
debtpubliclyissuedbytheUSgovernmentinitsdomesticmarket.ItisasubsetoftheBofAMerrillLynchU.S.TreasuryIndex(GOQO).
BofAMerrillLynchMunicipalIndexTheMerrillLynchMunicipal
BofAMerrillLynchCurrent10yearUSTIndex Thisindexisthe10yearcomponentoftheUSGovernmentindex.
BofAMerrillLynchCurrent30yearUSTIndex Thisindexisthe30yearcomponentoftheUSGovernmentindex.
ShanghaiIndex TheShanghaiStockExchangeCompositeisacapitalizationweightedindextrackingdailypriceperformanceofallAandBshareslistedontheShanghaiStock
Exchange.ThisindexwasdevelopedDecember19,1990withabasevalueof100.
S&P/CaseShillerCompositeHomePriceIndex TheCaseShillerHomePriceIndices,onecomprisedofpricechangeswithinall20metropolitanmarkets,andanothercomprisedof
pricechangeswithinthefollowingsubsetof10metropolitanmarkets:Boston,Chicago,Denver,LasVegas,LosAngeles,Miami, NewYork,SanDiego,SanFranciscoandWashington
DC.Inadditiontothose10markets,the20HomePriceindexreflectspricechangesforAtlanta,Charlotte,Dallas,Detroit,Minneapolis,Phoenix,Portland,SeattleandTampa.
NASDAQ Acomputerizedsystemthatfacilitatestradingandprovidespricequotationsonmorethan5,000ofthemoreactivelytradedover thecounterstocks.Createdin1971,the
Nasdaqwastheworld'sfirstelectronicstockmarket.
Transports TheIndustrialsSectorincludescompanieswhosebusinessesaredominatedbyoneofthefollowingactivities:Themanufactureand distributionofcapitalgoods,
includingaerospace&defense,construction,engineering&buildingproducts,electricalequipmentandindustrialmachinery
Utilities Apublicutilityisabusinessthatfurnishesaneverydaynecessitytothepublicatlarge.Publicutilitiesprovidewater,electricity,naturalgas,telephoneservice,andother
essentials.Utilitiesmaybepubliclyorprivatelyowned,butmostareoperatedasprivatebusinesses.
BasisPoint Abasispointisaunitthatisequalto1/100th of1%,andisusedtodenotethechangeinafinancialinstrument.
REIT RealEstateTrust.Asecuritythatsellslikeastockonthemajorexchangesandinvestsinrealestatedirectly,eitherthrough propertiesormortgages
Duration Durationisacommonlyusedmeasureofthepotentialvolatilityofthepriceofadebtsecurity,ortheaggregatemarketvalueofaportfolioofdebtsecurities,priorto
maturity.Securitieswithalongerdurationgenerallyhavemorevolatilepricesthansecuritiesofcomparablequalitywithashorterduration.
ISM=ISMManufacturingIndexisbasedonasurveyof300manufacturingfirmsbytheInstituteofSupplyManagement.
DXY=U.S.dollarspotindexindicatesthegeneralinternationalvalueoftheUSdollarbyaveragingtheexchangeratesbetweentheUSDandmajorworldcurrencies.
PE =price/earningsratioistheratioofvaluingacompanythatmeasuresitscurrentsharepricerelativetotispershareearnings
S&PLowVolatilityTR =TheS&P500LowVolatilityIndexisdesignedtomeasuretheperformanceofthe100leastvolatilestocksoftheS&P500Index Volatilityisdefinedasthe
standarddeviationofthesecuritycomputedusingthedailypricereturnsover252tradingdays.
MSCIUSAMinimumVolatilityGrossTR IndexisdesignedtoreflecttheperformanceofaminimumvarianceequitystrategybyoptimizingatraditionalcapweightedparentMSCI
Indextoattainthelowestlevelofvolatilityforasetofconstraints.

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Definitions
BofA/MerrillLynchInflationLinkedIndex(G0Q1) TheBofA MerrillLynchUSInflationLinkedTreasuryIndextrackstheperformanceofUSdollardenominatedinflationlinked
sovereigndebtpubliclyissuedbytheUSgovernmentinitsdomesticmarket.
CitigroupTIPS(SBUSILSI) . Itmeasuresthereturnsoftheinflationlinkedbondswithfixedratecouponpaymentsthatarelinkedtoaninflationindex.The priceofeachissueinthe
USLSIisadjustedbyusinganindexratio.Theindexratioisdeterminedbydividingthecurrentinflationindexlevelbythe inflationindexlevelatthetimeofissueofthesecurity.The
inflationindexispublishedonamonthlybasis,andtheintramonthindexratioiscalculatedusinglinear
interpolation.
BloombergBarclaysCapitalCMBSIndex trackstheperformanceofUSdollardenominatedsecuritizedcommercialmortgagebackedsecurities.
Russell2000 measurestheperformanceofthesmallcapsegmentoftheUSequityuniverse.Russell2000isasubsetoftheRussell3000indexrepresentingapproximately10%of
thetotalmarketcapitalizationofthatindex.
S&PGSCI isacompositeindexofcommoditysectorreturnrepresentinganunleveraged,longonlyinvestmentincommodityfuturesthatisbroadlydiversifiedacrossthespectrum
ofcommodities.
S&PGSCIAgriculture isacompositeindexofagriculturecommodityfuturesunleveraged,longonlyinvestment.
BarclaysCapitalUS30YearTIPSIndex .BarclaysCapital30yearTIPSontherunindexquotedinUSDollarstradedintraday
CitigroupEconomicSurpriseIndex .TheCitigroupEconomicSurpriseIndicesareobjectiveandquantitativemeasuresofeconomicnews.Theyaredefinedasweightedhistorical
standarddeviationsofdatasurprises(actualreleasesvsBloombergsurveymedian).ApositivereadingoftheEconomicSurpriseIndexsuggeststhateconomicreleaseshaveon
balancebeatingconsensus.Theindicesarecalculateddailyinarollingthreemonthwindow.TheweightsofeconomicindicatorsarederivedfromrelativehighfrequencyspotFX
impactsof1standarddeviationdatasurprises.Theindicesalsoemployatimedecayfunctiontoreplicatethelimitedmemory of markets.
DAX ThisindexistheGermanStockIndexisatotalreturnindexof30selectedGermanbluechipstockstradedontheFrankfurtStockExchange.
CAC40 ThisindexthemostwidelyusedindicatoroftheParismarket,reflectstheperformanceofthe40largestequitieslistedinFrance,measuredbyfreefloatmarket
capitalizationandliquidity.
FTSE100 Isacapitalizationweightedindexofthe100mosthighlycapitalizedcompaniestradedontheLondonStockExchange.
Nikkei225 TheNikkei225Stockaverageisapriceweightedaverageof225topratedJapanesecompanieslistedintheFirstSectionofthe TokyoStockExchange.
ESTX50 EuroSToxx 50indexisEuropesleadingbluechipindexfortheEurozone,providesabluechiprepresentationofsupersector leadersintheEurozone.
MerrillLynchOptionMOVEIndex MerrillLynchOptionVolatilityEstimateisaweightedindexofthenormalizedimpliedvolatilityon1monthTreasuryoptions.
MSCIUSAMinimumVolatility TheindexiscalculatedbyoptimizingtheMSCIUSAindex,itsparentindex,inUSDforthelowestabsoluterisk(withingiven constraints).
BloombergBarclaysU.S.HighYieldIndex Anindexthatiscomposedoffixedrate,publiclyissued,noninvestmentgradedebt.
BloombergBarclaysEuroCorporateIndex AsubsetoftheBarclaysEuroAgg measurestheinvestmentgrade,eurodenominated,fixedratebondmarket,includingtreasuries,
governmentrelated,corporateandsecuritizedissues.
BloombergBarclaysEuroHighYieldIndex Measuresthemarketofnoninvestmentgrade,fixedratecorporatebondsdenominatedinEuro.Inclusionisbasedonthecurrencyof
issue,andnotthedomicileoftheissuer.
JPMorganCorporateEMBIBroadDiversifiedIndex(JBCDCOMP) Thisindextracksabroadbasketofperformanceofinvestmentgradecorporatedebt,includingsmallerissues
coveringawiderarrayofpublicallyissuedacrossarangeofemergingmarketcountries.
JPMorganCorporateEmergingMarketIndex(JCMHCOR) Thisindexisaliquidbasketofemergingmarketscorporateissueswhichinclude80bonds,representing60issuersand16
countries.Ithasstrictliquiditycriteriaforinclusioninordertoprovidereplicability,tradability,robustpricinganddataintegrity.
JPMorganGlobalBondIndexexEM(JGAGGUSD) isacomprehensiveglobalinvestmentgradebenchmarkexcludingemergingmarkets.
JPMorganEMBondIndexGlobalDiversified trackstotalreturnsfortradedexternaldebtinstrumentsintheemergingmarketslimitingtheweightsofthoseindexcountrieswith
largerdebtstocksbyonlyincludingaspecifiedportionofthesecountrieseligiblecurrentfaceamountsofdebtoutstanding..
BloombergBarclaysU.S.CorporateIndex IsasubsetoftheBarclaysU.S.Aggregateindexwhichisabroadbasedflagshipbenchmarkthatmeasurestheinvestmentgrade,U.S.
dollardenominated,fixedratetaxablebondmarket.ITincludesTreasuries,governmentrelatedandcorporatesecurities,MBS,ABSandCMBS.Thissubsetrepresentsthe
investmentgradeportionofthatindex.

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Disclaimer
ImportantInformationRegardingThisReport
Thisreportwaspreparedasaprivatecommunicationandwasnotintendedforpubliccirculation.Clientsorprospectsmayauthorizedistributiontotheir
consultantsorotheragents.

Issueselectionprocessesandtoolsillustratedthroughoutthispresentationaresamplesandmaybemodifiedperiodically.Suchchartsarenottheonlytoolsused
bytheinvestmentteams,areextremelysophisticated,maynotalwaysproducetheintendedresultsandarenotintendedforusebynonprofessionals.

DoubleLinehasnoobligationtoproviderevisedassessmentsintheeventofchangedcircumstances.Whilewehavegatheredthisinformationfromsources
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clientsaccount,ormarketorregulatorydevelopments.

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Disclaimer
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