Markowitz Enrollment - Web Book - Ready - Flipbook - Page 72
Investment Factsheet
PAGE 42 OF 45
Inv. Data as of 09/30/24.
STATEMENT OF ADDITIONAL DISCLOSURES: PEER GROUP DESCRIPTIONS
nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure,
the portfolios' returns are often similar to those of the S&P 500 Index.
Large Growth (LG). Large-growth portfolios invest primarily in big U.S. companies that are projected to grow faster than other large-cap
stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth
(high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). Most of these
portfolios focus on companies in rapidly expanding industries.
Large Value (LV). Large-value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other
large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low
valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).
Mid-Cap Blend (MB). The typical mid-cap blend portfolio invests in U.S. stocks of various sizes and styles, giving it a middle-of the-road
profile. Most shy away from high-priced growth stocks but aren't so price-conscious that they land in value territory. Stocks in the middle 20% of
the capitalization of the U.S. equity market are defined as mid-cap. The blend style is assigned to portfolios where neither growth nor value
characteristics predominate.
Miscellaneous Sector (MR). Miscellaneous-sector portfolios invest in specific sectors that do not fit into any of Morningstar’s existing sector
categories and for which not enough funds exist to merit the creation of a separate category.
Money Market Taxable (TM). These portfolios invest in short-term money market securities in order to provide a level of current income that
is consistent with the preservation of capital. These funds do not designate themselves as Prime in form N-MFP and transact at a fixed net
asset value.
Natural Resources (SN). Natural-resources portfolios focus on commodity-based industries such as energy, chemicals, minerals, and forest
products in the United States or outside of the United States. Some portfolios invest across this spectrum to offer broad natural-resources
exposure. Others concentrate heavily or even exclusively in specific industries. Portfolios that concentrate primarily in energy-related industries
are part of the equity energy category.
Real Estate (SR). Real estate portfolios invest primarily in real estate investment trusts of various types. REITs are companies that develop
and manage real estate properties. There are several different types of REITs, including apartment, factory-outlet, health-care, hotel, industrial,
mortgage, office, and shopping center REITs. Some portfolios in this category also invest in real estate operating companies.
Small Blend (SB). Small-blend portfolios favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of
value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages.
Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to portfolios where
neither growth nor value characteristics predominate.
Target-Date 2020 (TE). Target-date portfolios provide diversified exposure to stocks, bonds, and cash for those investors who have a specific
date in mind (in this case, the years 2016-2020) for retirement. These portfolios aim to provide investors with an optimal level of return and
risk, based solely on the target date. Management adjusts the allocation among asset classes to moreconservative mixes as the target date
approaches, following a preset glide path. A target-date portfolio is part of a series of funds offering multiple retirement dates to investors.
Target-Date 2025 (TG). Target-date portfolios provide diversified exposure to stocks, bonds, and cash for those investors who have a specific
date in mind (in this case, the years 2021-2025) for retirement. These portfolios aim to provide investors with an optimal level of return and
risk, based solely on the target date. Management adjusts the allocation among asset classes to moreconservative mixes as the target date
approaches, following a preset glide path. A target-date portfolio is part of a series of funds offering multiple retirement dates to investors.
Target-Date 2030 (TH). Target-date portfolios provide diversified exposure to stocks, bonds, and cash for those investors who have a specific
date in mind (in this case, the years 2026-2030) for retirement. These portfolios aim to provide investors with an optimal level of return and
risk, based solely on the target date. Management adjusts the allocation among asset classes to moreconservative mixes as the target date
approaches, following a preset glide path. A target-date portfolio is part of a series of funds offering multiple retirement dates to investors.
Target-Date 2035 (TI). Target-date portfolios provide diversified exposure to stocks, bonds, and cash for those investors who have a specific
date in mind (in this case, the years 2031-2035) for retirement. These portfolios aim to provide investors with an optimal level of return and
Please see important disclosures in the Statement of Additional Disclosures. © 2024, Broadridge Financial Solutions, Inc. All rights reserved. The analysis
and opinions generated by Broadridge and its affiliates do not constitute professional investment advice and are provided solely for informational purposes.
