Investment objective & strategy
As of July 25, 2025 · prospectusObjective. The Fund seeks to replicate the total return of the S&P 500 Index, before fees and expenses.
Strategy. Under normal circumstances, we invest: at least 80% of the Funds net assets in a diversified portfolio of equity securities designed to replicate the holdings and weightings of the stocks comprising the S&P 500 Index. We invest in substantially all of the common stocks comprising the S&P 500 Index and attempt to achieve at least a 95% correlation between the performance of the S&P 500 Index and the Funds investment results, before fees and expenses. This correlation is sought regardless of market conditions. If we are unable to achieve this correlation, then we will closely monitor the performance and composition of the S&P 500 Index and adjust the Funds securities holdings as necessary to seek the correlation. We may use … Under normal circumstances, we invest: at least 80% of the Funds net assets in a diversified portfolio of equity securities designed to replicate the holdings and weightings of the stocks comprising the S&P 500 Index. We invest in substantially all of the common stocks comprising the S&P 500 Index and attempt to achieve at least a 95% correlation between the performance of the S&P 500 Index and the Funds investment results, before fees and expenses. This correlation is sought regardless of market conditions. If we are unable to achieve this correlation, then we will closely monitor the performance and composition of the S&P 500 Index and adjust the Funds securities holdings as necessary to seek the correlation. We may use futures contracts in order to equitize cash. A precise duplication of the performance of the S&P 500 Index would mean that the net asset value (NAV) of Fund shares, including dividends and capital gains, would increase or decrease in exact proportion to changes in the S&P 500 Index. Such a 100% correlation is not feasible. Our ability to track the performance of the S&P 500 Index may be affected by, among other things, transaction costs and shareholder purchases and redemptions. We continuously monitor the performance and composition of the S&P 500 Index and adjust the Funds portfolio as necessary to reflect any changes to the S&P 500 Index and to maintain a 95% or better performance correlation before fees and expenses. The Fund may become non-diversified, as defined under the Investment Company Act of 1940, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the S&P 500 Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $101.26M | 7.47% |
| APPLE INC | — | $89.03M | 6.56% |
| MICROSOFT CORP | — | $65.68M | 4.84% |
| AMAZON.COM INC | — | $48.61M | 3.58% |
| ALPHABET INC CL A | — | $40.00M | 2.95% |
| BROADCOM INC | — | $35.06M | 2.59% |
| ALPHABET INC CL C | — | $32.05M | 2.36% |
| META PLATFORMS INC CL A | — | $29.90M | 2.20% |
| TESLA INC | — | $24.98M | 1.84% |
| BERKSHIRE HATH-B | — | $21.00M | 1.55% |
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. |
|---|---|---|
| JPMorgan Equity Index Fund · HLEIX, OGEAX, OEICX, OGFAX | 99% | 0.04% |
| Columbia Variable Portfolio - Large Cap Index Fund | 99% | 0.25% |
| MOA EQUITY INDEX FUND | 99% | 0.14% |
Advisers
| Firm | Role |
|---|---|
| Allspring Funds Management, LLC | Adviser |
| Allspring Global Investments, LLC | Sub-adviser |
Footnotes
- Expense ratio as of July 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 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).
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