Basic Mutual Fund Types
 
    Investment Objectives   Why This Type   Invests Primarily in   Risk and Return   MTB Fund Options
 
Money Market Funds*
Current income with liquidity and safety of principal. The relative interest earned by these funds is not fixed nor guaranteed and is calculated daily and applied monthly to the account.
Many people use money markets as liquid, short-term investment vehicles or holding accounts while they evaluate their other investment options. Check writing is often available.
Short-term money market instruments that offer competitive interest rates such as treasury bills, certificates of deposit, repurchase agreements and commercial paper.
Lower risk and return potential. The most conservative type of mutual fund, money market funds try to maintain a set share price of $1 per share regardless of the market.
• U.S. Treasury Money Market Fund
• U.S. Government Money Market Fund
• New York Tax-Free Money Market Fund**
• Pennsylvania Tax-Free Money Market Fund**
• Tax-Free Money Market Fund**
• Money Market Fund
 
Bond Funds †   Current income with a secondary objective of capital preservation.   Investors who are looking for current income that is generally higher than that offered by a money market fund. Dividend income is usually paid monthly.   Fixed income securities such as U.S. Treasury bonds and notes, corporate bonds and notes, mortgage securities, government and government agency obligations and zero coupon bonds.   Moving up in terms of risk. Higher income potential in exchange for moderate risk to principal and possible price fluctuations.   • Short Duration Government Bond Fund
• Short-Term Corporate Bond Fund
• U.S. Government Bond Fund
• Maryland Municipal Bond Fund**
• New York Municipal Bond Fund**
• Pennsylvania Municipal Bond Fund**
• Virginia Municipal Bond Fund**
• Intermediate-Term Bond Fund
• Income Fund
 
Stock Funds   Long-term capital growth through investments in stocks.   Investors with longterm goals invest in stock funds that can provide strong returns over the long run. The value of a stock fund will fluctuate due to market volatility. Investors must be prepared to ride out these fluctuations while keeping their longterm goals in mind.

   Equities, i.e. stocks. The type of stocks in a fund will vary depending on the fund's objective. A small-cap fund will invest in small-cap stocks while a blue chip fund will invest in blue chip stocks.   Higher growth potential associated with a higher risk to principal and fluctuations in price per share.   • MTB Large Cap Value
• MTB Large Cap Growth Fund
• MTB Mid Cap Growth Fund
• MTB Small Cap Growth Fund
• MTB International Equity Fund

* An investment in a money market fund is not insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Although the fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund.
** Income may be subject to the Federal Alternative Minimum Tax. These funds may not be appropriate for IRAs, 401(k)s and other tax-advantaged retirement plans.
*** In addition to normal risks associated with equity investing, smaller companies typically exhibit higher volatility.
† Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices.
†† International investing involves special risks including currency risk, increased volatility of foreign securities, and differences in auditing and other financial standards.
Mutual funds are subject to risks and fluctuate in value.