Investment objective & strategy
As of April 29, 2025 · prospectusObjective. This Fund seeks investment results that correspond generally to the total return of an index that tracks the U.S. dollar-denominated investment grade bond market.
Strategy. Under normal circumstances, this Fund invests at least 80% of its assets in debt instruments included in the Funds applicable benchmark index, including instruments representative of that index (such as derivatives). These debt securities are those that are included in the Bloomberg US Aggregate Bond Index (Aggregate Bond Index) or are those debt securities that the sub-adviser has determined have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Aggregate Bond Index, such as mortgage TBA (or to be announced) transactions, U.S. government and agency securities, corporate securities and mortgage-backed securities. The sub-adviser seeks to match the total return of the Aggregate Bond Index, before taking into account Fund costs (fees and expenses). … Under normal circumstances, this Fund invests at least 80% of its assets in debt instruments included in the Funds applicable benchmark index, including instruments representative of that index (such as derivatives). These debt securities are those that are included in the Bloomberg US Aggregate Bond Index (Aggregate Bond Index) or are those debt securities that the sub-adviser has determined have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Aggregate Bond Index, such as mortgage TBA (or to be announced) transactions, U.S. government and agency securities, corporate securities and mortgage-backed securities. The sub-adviser seeks to match the total return of the Aggregate Bond Index, before taking into account Fund costs (fees and expenses). The Aggregate Bond Index represents the securities of the U.S. dollar-denominated investment grade bond market. The sub-adviser does not intend to purchase all of the securities in the Aggregate Bond Index, but rather will utilize a sampling methodology. Sampling means that the sub-adviser will select securities that represent a sample of securities in the Aggregate Bond Index that have a similar investment profile as the entire Aggregate Bond Index in terms of key risk factors, performance attributes and other characteristics. The sub-adviser generally expects the Fund to hold less than the total number of securities in the Aggregate Bond Index, but reserves the right to hold as many securities as it believes necessary to meet the Funds investment goal. The quantity of holdings in the Fund will be based on a number of factors, including the Funds asset size. The Fund will not concentrate, except to the same approximate extent as its index may concentrate in the securities of a particular industry or group of industries (also known as a sector). The Fund will not deviate from the above noted strategies at any time for any reason. The Fund may lend its portfolio holdings to certain financial institutions.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $20.07M | 1.83% |
| US TREASURY N/B | — | $13.01M | 1.19% |
| US TREASURY N/B | — | $7.48M | 0.68% |
| US TREASURY N/B | — | $7.00M | 0.64% |
| US TREASURY N/B | — | $5.67M | 0.52% |
| US TREASURY N/B | — | $5.35M | 0.49% |
| US TREASURY N/B | — | $5.13M | 0.47% |
| US TREASURY N/B | — | $5.06M | 0.46% |
| U.S. Treasury Notes | — | $5.03M | 0.46% |
| US TREASURY N/B | — | $4.77M | 0.44% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| State Street(R) SPDR(R) Portfolio Aggregate Bond ETF · SPAB | 47% | 0.03% |
| State Street Aggregate Bond Index Portfolio · SSAFX | 47% | 0.02% |
| VANGUARD TOTAL BOND MARKET INDEX FUND · VBTLX, VBMFX, VBTIX, BND, VBMPX, VTBSX | 46% | 0.01% |
Advisers
| Firm | Role |
|---|---|
| SSGA Funds Management, Inc. | Sub-adviser |
| Pacific Life Fund Advisors LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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