Reflects performance of the broad U.S. equity market.
This fund invests in stocks that mirror the CRSP Total Return Index. This index is a widely recognized benchmark of overall U.S. stock performance representing approximately 99.5% of the full capitalization of the U.S. equity market. The fund is broadly representative of the U.S. equity market and holds stocks (equities) of both large, well established companies, as well as those of smaller companies. Because it seeks to mirror, rather than outperform, the broad market, it uses a passive style of investing. This means that the fund manager does not choose between stocks on the basis of which stocks are likely to perform better or worse than others. Although the fund seeks to track the index, its results will be lower due to investment and administration expenses. The net return will be the result of general market performance, less investment and administration expenses.
Historically, over long periods of time, the U.S. equity (stock) market has tended to provide higher returns than other investments, such as bonds or money market funds. While there is no guarantee that this will be the case in the future, investment theory suggests that higher returns over the long term are a key reason investors would select an option like this one.
All securities investments risk the loss of capital. Since this fund is invested entirely in equities (stocks), the chance of losing a percentage of your original investment is much higher than with some other investment options.
The stock market can be volatile. Over long periods of time investors may enjoy higher returns than other options. However, investors can also lose more money than in some other options. Sharp and unpredictable changes in value, either positive or negative, can be especially acute over shorter periods of time.
*If you are uncomfortable with the risks associated with the U.S. Equity Index Fund, you may want to consider another MMBB investment option.*
|1 Month||YTD||1 Year||3 Years||5 Years||8 Years||10 Years|
* Dow Jones Wilshire 5000 through April 22, 2005; MSCI US Broad Market Index from April 23, 2005 through January 31, 2013; CRSP Total Return Index thereafter.
|Investment Management Fees||0.02%|
|MMBB Administrative Charge||0.50%|
|Sales Charge (Load) on Purchases||None|
|Deferred Sales Charge (Load)||None|
|Short-term or Other Redemption Fee||None|
|Distribution, or 12b-1, Fee||None|
|Dealer Commission (percent of offering price)||None|
|Low Balance Account Service Fee||None|
|Total Annual Operating Expenses||0.63%|