Investment objective & strategy
As of Sept. 26, 2025 · prospectusObjective. The Fund seeks to provide growth of capital through investments primarily in a diversified portfolio of common stocks that, as a group, are expected to provide investment results closely corresponding to the performance of the S&P MidCap 400 Index (the Index).
Strategy. The Fund is managed to seek to track the performance of the Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. The Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as optimization. The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, ( e.g. , price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index. Under normal circumstances, at least 80% of the Funds net assets are invested in stocks that are … The Fund is managed to seek to track the performance of the Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. The Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as optimization. The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, ( e.g. , price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index. Under normal circumstances, at least 80% of the Funds net assets are invested in stocks that are in the Index. Although the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment overhead as part of its normal operations. The subadviser may use derivatives to seek to track the performance of the Index, including futures and total return swaps. In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Funds total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. Investors will be given at least 60 days written notice in advance of any change to the Funds 80% investment policy set forth above.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| LUMENTUM HOLDINGS INC | — | $37.95M | 1.44% |
| COHERENT CORP | — | $31.08M | 1.18% |
| TECHNIPFMC PLC | — | $20.49M | 0.77% |
| CURTISS WRIGHT CORPORATION | — | $19.72M | 0.75% |
| State Street Navigator Securities Lending Government Money Market Portfolio | — | $19.65M | 0.74% |
| CASEY'S GENERAL | — | $19.47M | 0.74% |
| XPO LOGISTICS INC | — | $18.87M | 0.71% |
| ROYAL GOLD INC | — | $18.55M | 0.70% |
| FLEX LTD | — | $17.80M | 0.67% |
| WOODWARD INC | — | $17.71M | 0.67% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Columbia Mid Cap Index Fund · NTIAX, NMPAX, CPXRX, CMDYX | 98% | 0.20% |
| LVIP SSGA Mid-Cap Index Fund | 93% | 0.35% |
| State Street SPDR S&P MidCap 400SM ETF Trust | 93% | — |
Advisers
| Firm | Role |
|---|---|
| BlackRock Investment Management, LLC | Sub-adviser |
| The Variable Annuity Life Insurance Company | Adviser |
Footnotes
- Expense ratio as of September 26, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.