Fund Description

The fund normally invests at least 80% of assets in common stocks included in the S&P 500 Index, a market capitalization-weighted index of 500 common stocks representing the performance of the large-capitalization segment of the U.S. market. Derivative instruments that provide investment exposure to these investments, or to associated market risk factors, are included in the 80% policy consistent with the fund's policies and limitations on derivatives. The fund may lend securities to earn income and may operate as non-diversified to the approximate extent the index is non-diversified.