The fund seeks to replicate total return performance of the benchmark index before fees and expenses by investing in companies in the United States.
An equal-weight index will typically contain all of the 500 companies in the index approximately equally regardless of the relative market capitalizations of the companies.
The index is designed to measure the performance of 500 U.S. companies chosen for market size, liquidity and industry grouping.
An equal-weight index may have different degrees of industry sector exposure. In addition, the positions in the portfolio will be typically assessed and if necessary rebalanced quarterly as the index.
The fund may invest up to 20% of its net assets in securities that have economic characteristics similar to securities of the companies within the index, or exchange-traded funds, or cash, cash equivalents and U.S. Government securities.
