The fund seeks to appreciate capital by investing in small-size companies tied to the index.
The fund generally invests in all stocks and match the composition of its benchmark index.
At times, the fund may invest in a representative sample of stocks included in the index and in futures whose performance is tied to the index.
The S&P Smallcap 600 Index is an unmanaged index of 600 common stocks of small-size companies generally between the market capitalizations of $600 million and $2.5 billion.
S&P weighs each company’s stock in the index by its market capitalization and adjusts by the number of shares to public – float shares.