Fund Goal and Approach
The fund seeks to match the performance of the Standard & Poor's® MidCap 400 Index.To pursue its goal, the fund generally is fully invested in stocks included in the S&P® MidCap 400 Index and in futures whose performance is tied to the index. The fund generally invests in all 400 stocks in the S&P® MidCap 400 Index in proportion to their weighting in the index.
The S&P® MidCap 400 Index is an unmanaged index of 400 common stocks of medium-size companies. Companies included in the S&P® MidCap 400 Index generally have market capitalizations ranging between approximately $1 billion and $4.4 billion, to the extent consistent with market conditions.
Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.
Compared to larger, more established companies, midsize companies are subject to more erratic market movements and carry additional risks because their earnings tend to be less predictable and their stocks less liquid and more volatile.
The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor stock performance.
Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.