Investment objective & strategy
As of April 25, 2023 · prospectusObjective. The Portfolio seeks investment results (before fees and expenses) that that correspond to the investment performance of the S&P MidCap 400 Index.
Strategy. The Portfolio invests primarily in the 400 common stocks included in the S&P MidCap 400 Index to replicate, to the extent practicable and cost effective, the weightings of such stocks in the Index. The components of the Index are market capitalization weighted, adjusted for free float, which is the value of shares readily available in the market as held by public investors. Under normal circumstances, at least 80% of the Portfolios total assets are invested in securities included in the S&P 400 Index, which as of December 31, 2022, included companies with market capitalizations from $4.6 billion up to $12.7 billion. The Portfolio is rebalanced at approximately the same time that the S&P MidCap 400 Index to which the Portfolio … The Portfolio invests primarily in the 400 common stocks included in the S&P MidCap 400 Index to replicate, to the extent practicable and cost effective, the weightings of such stocks in the Index. The components of the Index are market capitalization weighted, adjusted for free float, which is the value of shares readily available in the market as held by public investors. Under normal circumstances, at least 80% of the Portfolios total assets are invested in securities included in the S&P 400 Index, which as of December 31, 2022, included companies with market capitalizations from $4.6 billion up to $12.7 billion. The Portfolio is rebalanced at approximately the same time that the S&P MidCap 400 Index to which the Portfolio is benchmarked is rebalanced and reconstituted, which currently occurs on the third Friday of the last month of each quarter. The Portfolio will typically concentrate its investments in an industry or group of industries to the extent that the index being tracked is also so concentrated.
Top holdings
As of Sept. 30, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Federal Home Loan Bank | — | $599.91K | 1.27% |
| FUTURE CONTRACT ON S&P MID 400 EMINI DEC23 0.00000000 | FAZ3 XCME | $504.08K | 1.07% |
| HUBBELL INC | — | $342.87K | 0.73% |
| ISHARES-C S&P MC | IJH | $342.11K | 0.72% |
| JABIL INC | — | $338.67K | 0.72% |
| BUILDERS FIRSTSOURCE | — | $317.33K | 0.67% |
| RELIANCE STEEL and ALUMINUM CO | — | $313.10K | 0.66% |
| DECKERS OUTDOOR CORP | — | $274.01K | 0.58% |
| CARLISLE COS INC | — | $263.93K | 0.56% |
| WATSCO INC | — | $258.36K | 0.55% |
Portfolio moves
Jun 30, 2023 → Sep 30, 2023How 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. |
|---|---|---|
| AZL DFA U.S. Small Cap Fund | 30% | 0.98% |
| US VALUE ETF | 20% | 0.49% |
| The Small Capitalization - Mid Capitalization Equity Portfolio | 19% | 0.26% |
Footnotes
- Net assets and holdings count as of September 30, 2023, from the fund's N-PORT filing.
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