Fund Description

The fund pursues its goal by generally investing in stocks included in the S&P 500 Index and, under normal circumstances, invests at least 80% of its net assets (including any borrowings for investment purposes) in these stocks. It generally seeks to replicate index performance by matching each stock's index weight, but may adjust weightings for odd-lot avoidance, tax, or liquidity considerations, and may trade in anticipation of index additions or removals. It may use derivatives, principally futures, and lend securities to help minimize performance differences arising from expenses and cash holdings, and may concentrate or become non-diversified to the extent the index is.