Fund Description

The fund uses an indexing approach designed to track the performance of the Standard & Poor's (S&P) 500 Index, a widely recognized benchmark of U.S. stock market performance dominated by large U.S. companies. It seeks to replicate the index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. It may become nondiversified solely as a result of an index rebalance or market movement.