THE SECURITIES ACT OF 1933 |
☒ |
PRE-EFFECTIVE AMENDMENT NO. |
☐ |
POST-EFFECTIVE AMENDMENT NO. 64 |
☒ |
THE INVESTMENT COMPANY ACT OF 1940 |
☒ |
AMENDMENT NO. 65 |
|
It is proposed that this filing will become effective: (check appropriate box) | |
☐ |
immediately upon filing pursuant to paragraph (b) of Rule 485. |
☒ |
on May 1, 2022 pursuant to paragraph (b) of Rule 485. |
☐ |
60 days after filing pursuant to paragraph (a)(1) of Rule 485. |
☐ |
on May 1, 2022 pursuant to paragraph (a)(1) of Rule 485. |
☐ |
75 days after filing pursuant to paragraph (a)(2) of Rule 485. |
☐ |
on May 1, 2022 pursuant to paragraph (a)(2) of Rule 485. |
|
Page |
3 | |
3 | |
6 | |
9 | |
12 | |
15 | |
18 | |
21 | |
24 | |
28 | |
32 | |
36 | |
39 | |
42 | |
45 | |
49 | |
54 | |
59 | |
64 | |
69 | |
74 | |
79 | |
84 | |
89 | |
94 | |
99 | |
105 | |
109 | |
113 | |
118 | |
119 | |
120 | |
121 | |
121 | |
122 | |
122 | |
123 | |
123 | |
124 | |
125 | |
126 | |
127 | |
128 | |
129 | |
133 | |
136 | |
142 | |
143 | |
143 | |
143 | |
146 | |
146 |
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Equity Index Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
All America Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Small Cap Value Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
Russell 2000 Value® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Small Cap Growth Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
Russell 2000 Growth® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waiver and/or Expense Reimbursement* |
( |
Total Annual Operating Expenses After Fee Waiver and/or Expense Reimbursement |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
For Life of Fund |
Inception Date |
Small Cap Equity Index Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 600® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Mid Cap Value Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
Russell Midcap® Value Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Mid-Cap Equity Index Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P MidCap 400® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Composite Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
International Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
MSCI EAFE Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waiver and/or Expense Reimbursement* |
( |
Total Annual Operating Expenses After Fee Waiver and/or Expense Reimbursement |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
For Life of Fund |
Inception Date |
Catholic Values Index Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Catholic Values Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Money Market Fund |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Mid-Term Bond Fund |
|
|
|
Return before taxes |
- |
|
|
Return after taxes on distributions |
- |
|
|
Return after taxes on distributions and sales of shares |
- |
|
|
Bloomberg U.S. Intermediate Government/Credit Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Bond Fund |
|
|
|
Return before taxes |
- |
|
|
Return after taxes on distributions |
- |
|
|
Return after taxes on distributions and sales of shares |
- |
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Retirement Income Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2015 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2020 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2025 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2030 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
FTSE 3-month Treasury Bill Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2035 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2040 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
2045 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
For Life of Fund |
Inception Date |
2050 Retirement Fund |
|
|
|
|
Return before taxes |
|
|
|
|
Return after taxes on distributions |
|
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
For Life of Fund |
Inception Date |
2055 Retirement Fund |
|
|
|
|
Return before taxes |
|
|
|
|
Return after taxes on distributions |
|
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
For Life of Fund |
Inception Date |
2060 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
Fee Waiver and/or Expense Reimbursement* |
( |
Total Annual Operating Expenses After Fee Waiver and/or Expense Reimbursement |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
For Life of Fund |
Inception Date |
2065 Retirement Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
- |
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Conservative Allocation Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Moderate Allocation Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
|
Management Fees |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
Fund/Comparative Index(es) |
Past One Year |
Past Five Years |
Past Ten Years |
Aggressive Allocation Fund |
|
|
|
Return before taxes |
|
|
|
Return after taxes on distributions |
|
|
|
Return after taxes on distributions and sales of shares |
|
|
|
S&P 500® Index (Index reflects no deduction for fees and expenses) |
|
|
|
Bloomberg U.S. Aggregate Bond Index (Index reflects no deduction for fees and expenses) |
- |
|
|
|
Target Allocation of the Retirement Funds (as of May 1, 2022) | |||||||||||
|
Retirement Income Fund |
2015 Retirement Fund |
2020 Retirement Fund |
2025 Retirement Fund |
2030 Retirement Fund |
2035 Retirement Fund |
2040 Retirement Fund |
2045 Retirement Fund |
2050 Retirement Fund |
2055 Retirement Fund |
2060 Retirement Fund |
2065 Retirement Fund |
Domestic Equity |
25% |
28% |
34% |
41% |
49% |
58% |
64% |
68% |
70% |
71% |
72% |
73% |
Equity Index Fund |
20% |
23% |
25% |
30% |
35% |
40% |
44% |
47% |
48% |
47% |
47% |
48% |
Mid-Cap Equity Funds |
5% |
5% |
7% |
8% |
10% |
13% |
14% |
14% |
14% |
15% |
15% |
15% |
Small Cap Equity Funds |
0% |
0% |
2% |
3% |
4% |
5% |
6% |
7% |
8% |
9% |
10% |
10% |
International Equity |
5% |
5% |
7% |
10% |
12% |
15% |
18% |
19% |
20% |
21% |
22% |
22% |
TOTAL EQUITY |
30% |
33% |
41% |
51% |
61% |
73% |
82% |
87% |
90% |
92% |
94% |
95% |
Bond Fund |
35% |
35% |
35% |
32% |
26% |
20% |
16% |
11% |
8% |
7% |
5% |
4% |
Mid-Term Bond Fund |
30% |
27% |
19% |
14% |
10% |
4% |
0% |
0% |
0% |
0% |
0% |
0% |
TOTAL FIXED INCOME |
65% |
62% |
54% |
46% |
36% |
24% |
16% |
11% |
8% |
7% |
5% |
4% |
Money Market Fund |
5% |
5% |
5% |
3% |
3% |
3% |
2% |
2% |
2% |
1% |
1% |
1% |
TOTAL ASSETS |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$51.15 |
$47.89 |
$37.75 |
$41.04 |
$34.92 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.73 |
0.92 |
0.81 |
0.74 |
0.66 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
13.70 |
7.52 |
10.88 |
(2.41) |
6.82 |
Total From Investment Operations |
14.43 |
8.44 |
11.69 |
(1.67) |
7.48 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.70) |
(1.68) |
(0.74) |
(0.67) |
(0.62) |
From Net Realized Gains |
(2.47) |
(3.50) |
(0.81) |
(0.95) |
(0.74) |
Total Distributions |
(3.17) |
(5.18) |
(1.55) |
(1.62) |
(1.36) |
Net Asset Value, End of Year |
$62.41 |
$51.15 |
$47.89 |
$37.75 |
$41.04 |
Total Return (%)(b) |
28.50 |
18.20 |
31.31 |
(4.56) |
21.65 |
Net Assets, End of Year ($ millions) |
4,992 |
3,714 |
3,478 |
2,629 |
2,712 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.27 |
1.72 |
1.90 |
1.83 |
1.85 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.13 |
0.15 |
0.13 |
0.13 |
0.14 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.13 |
0.15 |
0.13 |
0.13 |
0.13(c) |
Portfolio Turnover Rate (%)(d) |
7.01 |
5.77 |
3.01 |
3.48 |
5.23 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$24.18 |
$24.24 |
$20.50 |
$23.83 |
$22.91 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.25 |
0.34 |
0.35 |
0.32 |
0.32 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
6.18 |
3.31 |
5.31 |
(2.04) |
3.96 |
Total From Investment Operations |
6.43 |
3.65 |
5.66 |
(1.72) |
4.28 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.20) |
(0.63) |
(0.30) |
(0.31) |
(0.31) |
From Net Realized Gains |
(2.68) |
(3.08) |
(1.62) |
(1.30) |
(3.05) |
Total Distributions |
(2.88) |
(3.71) |
(1.92) |
(1.61) |
(3.36) |
Net Asset Value, End of Year |
$27.73 |
$24.18 |
$24.24 |
$20.50 |
$23.83 |
Total Return (%)(b) |
27.07 |
16.78 |
28.36 |
(8.27) |
19.41 |
Net Assets, End of Year ($ millions) |
374 |
320 |
312 |
268 |
325 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
0.90 |
1.33 |
1.43 |
1.26 |
1.33 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.49 |
0.52 |
0.49 |
0.52 |
0.51 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.49 |
0.52 |
0.49 |
0.52 |
0.51 |
Portfolio Turnover Rate (%)(c) |
19.84 |
24.07 |
26.06 |
17.60 |
22.28 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$13.45 |
$15.11 |
$13.58 |
$17.35 |
$16.88 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.17 |
0.23 |
0.23 |
0.18 |
0.28 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
4.12 |
(1.03) |
2.30 |
(2.42) |
1.11 |
Total From Investment Operations |
4.29 |
(0.80) |
2.53 |
(2.24) |
1.39 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.09) |
(0.41) |
(0.13) |
(0.25) |
(0.10) |
From Net Realized Gains |
(1.13) |
(0.45) |
(0.87) |
(1.28) |
(0.82) |
Total Distributions |
(1.22) |
(0.86) |
(1.00) |
(1.53) |
(0.92) |
Net Asset Value, End of Year |
$16.52 |
$13.45 |
$15.11 |
$13.58 |
$17.35 |
Total Return (%)(b) |
32.29 |
(4.01) |
19.10 |
(14.57) |
8.29 |
Net Assets, End of Year ($ millions) |
580 |
472 |
518 |
428 |
506 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.03 |
1.90 |
1.68 |
1.10 |
1.75 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.80 |
0.82 |
0.81 |
0.81 |
0.81 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.80 |
0.82 |
0.81 |
0.81 |
0.80(d) |
Portfolio Turnover Rate (%)(c) |
33.93 |
42.64 |
43.17 |
29.58 |
34.36 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$17.53 |
$14.63 |
$12.62 |
$15.44 |
$12.91 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
(0.03) |
(0.02) |
0.02 |
0.02 |
0.01 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
1.74 |
6.01 |
3.24 |
(1.72) |
3.04 |
Total From Investment Operations |
1.71 |
5.99 |
3.26 |
(1.70) |
3.05 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.01) |
(0.06) |
(0.01) |
—(b) |
—(b) |
From Net Realized Gains |
(3.01) |
(3.03) |
(1.24) |
(1.12) |
(0.52) |
Total Distributions |
(3.02) |
(3.09) |
(1.25) |
(1.12) |
(0.52) |
Net Asset Value, End of Year |
$16.22 |
$17.53 |
$14.63 |
$12.62 |
$15.44 |
Total Return (%)(c) |
10.38 |
43.31 |
26.59 |
(12.53) |
23.82 |
Net Assets, End of Year ($ millions) |
673 |
667 |
609 |
483 |
555 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
(0.24) |
(0.17) |
0.17 |
0.13 |
0.06 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.80 |
0.81 |
0.81 |
0.81 |
0.82 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.80 |
0.81 |
0.81 |
0.81 |
0.80(d) |
Portfolio Turnover Rate (%)(e) |
45.18 |
70.58 |
56.25 |
60.57 |
62.33 |
|
Years Ended December 31, |
Period Ended December 31, | ||
|
2021 |
2020(a) |
2019(a) |
2018(f),(a) |
Net Asset Value, Beginning of Year |
$10.74 |
$9.93 |
$8.28 |
$10.00 |
Income (Loss) from Investment Operations |
|
|
|
|
Net Investment Income (Loss) |
0.16 |
0.07 |
0.14 |
0.06 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.62 |
0.94 |
1.72 |
(1.72) |
Total From Investment Operations |
2.78 |
1.01 |
1.86 |
(1.66) |
Less Distributions |
|
|
|
|
From Net Investment Income |
(0.15) |
(0.07) |
(0.13) |
(0.06) |
From Net Realized Gains |
(1.78) |
(0.13) |
(0.08) |
—(b) |
Return of Capital |
— |
— |
— |
—(b) |
Total Distributions |
(1.93) |
(0.20) |
(0.21) |
(0.06) |
Net Asset Value, End of Year |
$11.59 |
$10.74 |
$9.93 |
$8.28 |
Total Return (%)(c) |
26.56 |
10.62 |
22.40 |
(16.54)(g) |
Net Assets, End of Year ($ millions) |
143 |
107 |
29 |
17 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.29 |
1.51 |
1.50 |
1.51(h) |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.25 |
0.39 |
0.42 |
1.61(h) |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.14 |
0.12 |
0.14 |
0.14(h) |
Portfolio Turnover Rate (%)(e) |
69.91 |
42.67 |
97.06 |
81.79(g) |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$15.53 |
$16.36 |
$13.39 |
$17.12 |
$15.73 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.26 |
0.44 |
0.29 |
0.27 |
0.27 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
5.01 |
(0.14) |
3.28 |
(2.41) |
2.03 |
Total From Investment Operations |
5.27 |
0.30 |
3.57 |
(2.14) |
2.30 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.14) |
(0.53) |
(0.21) |
(0.29) |
(0.18) |
From Net Realized Gains |
(1.45) |
(0.48) |
(0.39) |
(1.30) |
(0.73) |
Return of Capital |
— |
(0.12) |
— |
— |
— |
Total Distributions |
(1.59) |
(1.13) |
(0.60) |
(1.59) |
(0.91) |
Net Asset Value, End of Year |
$19.21 |
$15.53 |
$16.36 |
$13.39 |
$17.12 |
Total Return (%)(b) |
34.35 |
2.82 |
27.04 |
(14.08) |
14.92 |
Net Assets, End of Year ($ millions) |
131 |
90 |
99 |
80 |
103 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.47 |
2.96 |
1.85 |
1.51 |
1.55 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.65 |
0.74 |
0.66 |
0.65 |
0.64 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.65 |
0.74 |
0.66 |
0.65 |
0.64 |
Portfolio Turnover Rate (%)(c) |
23.84 |
23.65 |
17.65 |
10.75 |
24.09 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$23.07 |
$22.45 |
$19.31 |
$23.42 |
$21.68 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.33 |
0.32 |
0.33 |
0.34 |
0.31 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
5.21 |
2.37 |
4.57 |
(2.66) |
3.08 |
Total From Investment Operations |
5.54 |
2.69 |
4.90 |
(2.32) |
3.39 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.30) |
(0.59) |
(0.27) |
(0.32) |
(0.27) |
From Net Realized Gains |
(3.19) |
(1.48) |
(1.49) |
(1.47) |
(1.38) |
Total Distributions |
(3.49) |
(2.07) |
(1.76) |
(1.79) |
(1.65) |
Net Asset Value, End of Year |
$25.12 |
$23.07 |
$22.45 |
$19.31 |
$23.42 |
Total Return (%)(b) |
24.56 |
13.50 |
26.01 |
(11.26) |
16.05 |
Net Assets, End of Year ($ millions) |
2,118 |
1,856 |
1,681 |
1,281 |
1,452 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.24 |
1.56 |
1.67 |
1.52 |
1.46 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.14 |
0.15 |
0.13 |
0.14 |
0.14 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.14 |
0.15 |
0.13 |
0.14 |
0.14(d) |
Portfolio Turnover Rate (%)(c) |
25.62 |
13.14 |
14.30 |
20.26 |
19.36 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$19.16 |
$18.68 |
$16.75 |
$19.08 |
$19.48 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.32 |
0.37 |
0.39 |
0.41 |
0.41 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.80 |
1.75 |
2.78 |
(0.86) |
2.08 |
Total From Investment Operations |
3.12 |
2.12 |
3.17 |
(0.45) |
2.49 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.32) |
(0.77) |
(0.41) |
(0.40) |
(0.43) |
From Net Realized Gains |
(0.78) |
(0.87) |
(0.83) |
(1.48) |
(2.46) |
Total Distributions |
(1.10) |
(1.64) |
(1.24) |
(1.88) |
(2.89) |
Net Asset Value, End of Year |
$21.18 |
$19.16 |
$18.68 |
$16.75 |
$19.08 |
Total Return (%)(b) |
16.48 |
11.77 |
19.37 |
(3.20) |
13.37 |
Net Assets, End of Year ($ millions) |
218 |
191 |
194 |
172 |
190 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.53 |
1.76 |
2.12 |
2.16 |
2.11 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.46 |
0.54 |
0.50 |
0.51 |
0.51 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.46 |
0.54 |
0.50 |
0.51 |
0.50(c) |
Portfolio Turnover Rate (%)(d) |
23.68 |
38.58 |
41.92 |
37.37 |
60.13 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$9.34 |
$9.05 |
$7.66 |
$9.04 |
$7.43 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.20 |
0.14 |
0.23 |
0.22 |
0.19 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
0.74 |
0.56 |
1.36 |
(1.40) |
1.62 |
Total From Investment Operations |
0.94 |
0.70 |
1.59 |
(1.18) |
1.81 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.16) |
(0.38) |
(0.20) |
(0.20) |
(0.18) |
From Net Realized Gains |
(0.86) |
(0.03) |
— |
—(e) |
(0.02) |
Return of Capital |
— |
—(e) |
— |
— |
— |
Total Distributions |
(1.02) |
(0.41) |
(0.20) |
(0.20) |
(0.20) |
Net Asset Value, End of Year |
$9.26 |
$9.34 |
$9.05 |
$7.66 |
$9.04 |
Total Return (%)(b) |
10.37 |
8.19 |
21.01 |
(13.36) |
24.47 |
Net Assets, End of Year ($ millions) |
1,203 |
940 |
720 |
509 |
537 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
2.05 |
2.20 |
3.26 |
2.75 |
2.67 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(f) |
0.12 |
0.13 |
0.12 |
0.12 |
0.12 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(f) |
0.12 |
0.13 |
0.12 |
0.12 |
0.12(c) |
Portfolio Turnover Rate (%)(d) |
123.53 |
4.69 |
3.61 |
— |
— |
|
Year Ended December 31, |
Period Ended December 31, |
|
2021 |
2020(a) |
Net Asset Value, Beginning of Year |
$11.17 |
$10.00 |
Income (Loss) from Investment Operations |
|
|
Net Investment Income (Loss) |
0.15 |
0.04 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
3.07 |
1.17 |
Total From Investment Operations |
3.22 |
1.21 |
Less Distributions |
|
|
From Net Investment Income |
(0.14) |
(0.04) |
From Net Realized Gains |
(0.19) |
—(b) |
Total Distributions |
(0.33) |
(0.04) |
Net Asset Value, End of Year |
$14.06 |
$11.17 |
Total Return (%)(c) |
28.99 |
12.12(d) |
Net Assets, End of Year ($ millions) |
5 |
3 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.16 |
1.57(e) |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
2.14 |
2.18(e) |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.22 |
0.15(e) |
Portfolio Turnover Rate (%)(f) |
9.54 |
16.38(d) |
|
Years Ended December 31, | ||||
|
2021 |
2020(g) |
2019(g) |
2018(g) |
2017(g) |
Net Asset Value, Beginning of Year |
$12.09 |
$12.09 |
$11.18 |
$11.67 |
$11.25 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.15 |
0.41 |
0.18 |
0.20 |
0.19 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
0.54 |
0.49 |
1.14 |
(0.33) |
0.63 |
Total From Investment Operations |
0.69 |
0.90 |
1.32 |
(0.13) |
0.82 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.16) |
(0.60) |
(0.20) |
(0.20) |
(0.21) |
From Net Realized Gains |
(0.36) |
(0.30) |
(0.21) |
(0.16) |
(0.19) |
Total Distributions |
(0.52) |
(0.90) |
(0.41) |
(0.36) |
(0.40) |
Net Asset Value, End of Year |
$12.26 |
$12.09 |
$12.09 |
$11.18 |
$11.67 |
Total Return (%)(c) |
5.77 |
7.59 |
11.85 |
(1.21) |
7.35 |
Net Assets, End of Year ($ millions) |
224 |
193 |
138 |
101 |
101 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.22 |
4.25 |
1.87 |
1.82 |
2.01 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(h) |
0.11 |
0.11 |
0.12 |
0.08 |
0.08 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(h) |
0.11 |
0.11 |
0.12 |
0.08 |
0.06(i) |
Portfolio Turnover Rate (%)(f) |
28.07 |
23.13 |
10.49 |
21.90 |
18.54 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$9.90 |
$10.49 |
$9.73 |
$10.67 |
$10.30 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.13 |
0.39 |
0.20 |
0.21 |
0.23 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
0.63 |
0.37 |
1.27 |
(0.49) |
0.84 |
Total From Investment Operations |
0.76 |
0.76 |
1.47 |
(0.28) |
1.07 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.15) |
(0.59) |
(0.22) |
(0.21) |
(0.22) |
From Net Realized Gains |
(1.09) |
(0.76) |
(0.49) |
(0.45) |
(0.48) |
Total Distributions |
(1.24) |
(1.35) |
(0.71) |
(0.66) |
(0.70) |
Capital Contribution from Adviser |
0.03(b) |
— |
— |
— |
— |
Net Asset Value, End of Year |
$9.45 |
$9.90 |
$10.49 |
$9.73 |
$10.67 |
Total Return (%)(c) |
8.11 |
7.65 |
15.34 |
(3.01) |
10.64 |
Net Assets, End of Year ($ millions) |
141 |
140 |
149 |
138 |
155 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.26 |
3.63 |
1.81 |
1.83 |
1.85 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) |
0.13 |
0.12 |
0.11 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) |
0.13 |
0.12 |
0.11 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(e) |
24.63 |
25.28 |
13.69 |
14.75 |
14.98 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$11.84 |
$12.42 |
$11.25 |
$12.25 |
$11.43 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.16 |
0.46 |
0.22 |
0.22 |
0.20 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
0.99 |
0.62 |
1.71 |
(0.67) |
1.21 |
Total From Investment Operations |
1.15 |
1.08 |
1.93 |
(0.45) |
1.41 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.20) |
(0.70) |
(0.23) |
(0.22) |
(0.20) |
From Net Realized Gains |
(0.63) |
(0.96) |
(0.53) |
(0.33) |
(0.39) |
Total Distributions |
(0.83) |
(1.66) |
(0.76) |
(0.55) |
(0.59) |
Net Asset Value, End of Year |
$12.16 |
$11.84 |
$12.42 |
$11.25 |
$12.25 |
Total Return (%)(c) |
9.80 |
9.11 |
17.53 |
(4.04) |
12.52 |
Net Assets, End of Year ($ millions) |
621 |
594 |
608 |
515 |
525 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.29 |
3.66 |
1.85 |
1.89 |
1.89 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(e) |
22.78 |
22.40 |
10.33 |
10.84 |
7.09 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$13.29 |
$13.65 |
$12.02 |
$13.29 |
$12.12 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.18 |
0.48 |
0.20 |
0.21 |
0.17 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
1.39 |
0.85 |
2.15 |
(0.84) |
1.56 |
Total From Investment Operations |
1.57 |
1.33 |
2.35 |
(0.63) |
1.73 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.23) |
(0.72) |
(0.23) |
(0.21) |
(0.18) |
From Net Realized Gains |
(0.66) |
(0.97) |
(0.49) |
(0.43) |
(0.38) |
Total Distributions |
(0.89) |
(1.69) |
(0.72) |
(0.64) |
(0.56) |
Net Asset Value, End of Year |
$13.97 |
$13.29 |
$13.65 |
$12.02 |
$13.29 |
Total Return (%)(b) |
11.96 |
10.26 |
19.79 |
(5.22) |
14.44 |
Net Assets, End of Year ($ millions) |
1,203 |
1,020 |
946 |
710 |
686 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.29 |
3.68 |
1.81 |
1.81 |
1.81 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.07 |
0.06 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.07 |
0.06 |
0.07 |
Portfolio Turnover Rate (%)(d) |
15.42 |
16.72 |
5.08 |
6.74 |
5.78 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$14.08 |
$14.32 |
$12.36 |
$13.82 |
$12.46 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.19 |
0.48 |
0.20 |
0.20 |
0.16 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
1.94 |
1.10 |
2.47 |
(1.02) |
1.81 |
Total From Investment Operations |
2.13 |
1.58 |
2.67 |
(0.82) |
1.97 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.26) |
(0.73) |
(0.22) |
(0.20) |
(0.17) |
From Net Realized Gains |
(0.70) |
(1.09) |
(0.49) |
(0.44) |
(0.44) |
Total Distributions |
(0.96) |
(1.82) |
(0.71) |
(0.64) |
(0.61) |
Net Asset Value, End of Year |
$15.25 |
$14.08 |
$14.32 |
$12.36 |
$13.82 |
Total Return (%)(b) |
15.29 |
11.67 |
21.93 |
(6.49) |
16.01 |
Net Assets, End of Year ($ millions) |
1,231 |
981 |
854 |
617 |
578 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.25 |
3.67 |
1.71 |
1.74 |
1.69 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.07 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.07 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(d) |
13.45 |
12.53 |
4.23 |
5.01 |
5.75 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$14.40 |
$14.59 |
$12.43 |
$14.01 |
$12.52 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.20 |
0.48 |
0.19 |
0.19 |
0.15 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.34 |
1.25 |
2.70 |
(1.14) |
1.96 |
Total From Investment Operations |
2.54 |
1.73 |
2.89 |
(0.95) |
2.11 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.29) |
(0.72) |
(0.22) |
(0.19) |
(0.16) |
From Net Realized Gains |
(0.65) |
(1.20) |
(0.51) |
(0.44) |
(0.46) |
Total Distributions |
(0.94) |
(1.92) |
(0.73) |
(0.63) |
(0.62) |
Net Asset Value, End of Year |
$16.00 |
$14.40 |
$14.59 |
$12.43 |
$14.01 |
Total Return (%)(b) |
17.84 |
12.61 |
23.62 |
(7.36) |
17.15 |
Net Assets, End of Year ($ millions) |
1,101 |
846 |
712 |
509 |
484 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.25 |
3.67 |
1.64 |
1.64 |
1.57 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(d) |
8.93 |
11.53 |
3.33 |
4.00 |
4.02 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$14.44 |
$14.48 |
$12.23 |
$13.86 |
$12.39 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.20 |
0.47 |
0.18 |
0.18 |
0.14 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.64 |
1.37 |
2.74 |
(1.20) |
1.97 |
Total From Investment Operations |
2.84 |
1.84 |
2.92 |
(1.02) |
2.11 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.30) |
(0.70) |
(0.21) |
(0.19) |
(0.14) |
From Net Realized Gains |
(0.83) |
(1.18) |
(0.46) |
(0.42) |
(0.50) |
Total Distributions |
(1.13) |
(1.88) |
(0.67) |
(0.61) |
(0.64) |
Net Asset Value, End of Year |
$16.15 |
$14.44 |
$14.48 |
$12.23 |
$13.86 |
Total Return (%)(b) |
19.89 |
13.43 |
24.25 |
(7.94) |
17.40 |
Net Assets, End of Year ($ millions) |
925 |
708 |
587 |
413 |
393 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.22 |
3.59 |
1.59 |
1.60 |
1.53 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(d) |
11.55 |
12.53 |
2.38 |
2.65 |
4.07 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$14.28 |
$14.32 |
$12.14 |
$13.87 |
$12.36 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.19 |
0.45 |
0.18 |
0.19 |
0.15 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.71 |
1.34 |
2.75 |
(1.25) |
1.99 |
Total From Investment Operations |
2.90 |
1.79 |
2.93 |
(1.06) |
2.14 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.29) |
(0.68) |
(0.21) |
(0.19) |
(0.15) |
From Net Realized Gains |
(0.92) |
(1.15) |
(0.54) |
(0.48) |
(0.48) |
Total Distributions |
(1.21) |
(1.83) |
(0.75) |
(0.67) |
(0.63) |
Net Asset Value, End of Year |
$15.97 |
$14.28 |
$14.32 |
$12.14 |
$13.87 |
Total Return (%)(b) |
20.57 |
13.31 |
24.54 |
(8.29) |
17.62 |
Net Assets, End of Year ($ millions) |
957 |
733 |
611 |
438 |
437 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.19 |
3.54 |
1.54 |
1.55 |
1.45 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.07 |
0.08 |
0.07 |
0.07 |
Portfolio Turnover Rate (%)(d) |
11.96 |
10.77 |
2.56 |
3.67 |
4.46 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$17.92 |
$17.47 |
$14.64 |
$16.59 |
$14.53 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.24 |
0.54 |
0.19 |
0.20 |
0.12 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
3.45 |
1.68 |
3.37 |
(1.57) |
2.45 |
Total From Investment Operations |
3.69 |
2.22 |
3.56 |
(1.37) |
2.57 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.38) |
(0.81) |
(0.23) |
(0.20) |
(0.14) |
From Net Realized Gains |
(0.92) |
(0.96) |
(0.50) |
(0.38) |
(0.37) |
Total Distributions |
(1.30) |
(1.77) |
(0.73) |
(0.58) |
(0.51) |
Net Asset Value, End of Year |
$20.31 |
$17.92 |
$17.47 |
$14.64 |
$16.59 |
Total Return (%)(b) |
20.82 |
13.39 |
24.65 |
(8.74) |
17.86 |
Net Assets, End of Year ($ millions) |
717 |
536 |
425 |
285 |
256 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.18 |
3.56 |
1.53 |
1.55 |
1.47 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.08 |
0.08 |
0.08 |
0.07 |
0.07 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.08 |
0.08 |
0.08 |
0.07 |
0.07(e) |
Portfolio Turnover Rate (%)(d) |
11.57 |
9.80 |
2.11 |
2.26 |
3.75 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$13.98 |
$13.31 |
$11.02 |
$12.27 |
$10.40 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.18 |
0.38 |
0.10 |
0.10 |
—(b) |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.74 |
1.41 |
2.56 |
(1.17) |
1.87 |
Total From Investment Operations |
2.92 |
1.79 |
2.66 |
(1.07) |
1.87 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.29) |
(0.57) |
(0.12) |
(0.06) |
— |
From Net Realized Gains |
(0.62) |
(0.55) |
(0.25) |
(0.12) |
— |
Total Distributions |
(0.91) |
(1.12) |
(0.37) |
(0.18) |
— |
Net Asset Value, End of Year |
$15.99 |
$13.98 |
$13.31 |
$11.02 |
$12.27 |
Total Return (%)(c) |
21.11 |
13.93 |
24.39 |
(8.88) |
17.90 |
Net Assets, End of Year ($ millions) |
330 |
220 |
144 |
70 |
34 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.16 |
3.66 |
1.58 |
1.73 |
1.90 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) |
0.10 |
0.11 |
0.12 |
0.11 |
0.14 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) |
0.10 |
0.11 |
0.12 |
0.05 |
0.05 |
Portfolio Turnover Rate (%)(e) |
10.49 |
7.28 |
0.57 |
3.42 |
4.32 |
|
Years Ended December 31, |
Period Ended December 31, | ||
|
2021 |
2020(a) |
2019(a) |
2018(f),(a) |
Net Asset Value, Beginning of Year |
$11.87 |
$11.12 |
$8.95 |
$10.00 |
Income (Loss) from Investment Operations |
|
|
|
|
Net Investment Income (Loss) |
0.16 |
0.28 |
0.08 |
0.02 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.38 |
1.25 |
2.11 |
(1.07) |
Total From Investment Operations |
2.54 |
1.53 |
2.19 |
(1.05) |
Less Distributions |
|
|
|
|
From Net Investment Income |
(0.26) |
(0.42) |
(0.01) |
— |
From Net Realized Gains |
(0.57) |
(0.36) |
(0.01) |
— |
Total Distributions |
(0.83) |
(0.78) |
(0.02) |
— |
Net Asset Value, End of Year |
$13.58 |
$11.87 |
$11.12 |
$8.95 |
Total Return (%)(c) |
21.60 |
14.08 |
24.53 |
(10.54)(g) |
Net Assets, End of Year ($ millions) |
130 |
72 |
30 |
4 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.25 |
4.14 |
1.95 |
0.74(g) |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) |
0.16 |
0.22 |
0.51 |
1.54(h) |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) |
0.05 |
0.05 |
0.05 |
0.05(h) |
Portfolio Turnover Rate (%)(e) |
14.26 |
6.70 |
1.73 |
6.10(g) |
|
Year Ended December 31, |
Period Ended December 31, |
|
2021 |
2020(a),(b) |
Net Asset Value, Beginning of Year |
$11.45 |
$10.00 |
Income (Loss) from Investment Operations |
|
|
Net Investment Income (Loss) |
0.16 |
0.22 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.31 |
1.59 |
Total From Investment Operations |
2.47 |
1.81 |
Less Distributions |
|
|
From Net Investment Income |
(0.26) |
(0.24) |
From Net Realized Gains |
(0.46) |
(0.12) |
Total Distributions |
(0.72) |
(0.36) |
Net Asset Value, End of Year |
$13.20 |
$11.45 |
Total Return (%)(c) |
21.73 |
18.16(d) |
Net Assets, End of Year ($ millions) |
17 |
3 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.44 |
3.40(d) |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(e) |
1.15 |
4.61(f) |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(e) |
0.05 |
0.05(f) |
Portfolio Turnover Rate (%)(g) |
28.10 |
10.76(d) |
|
Years Ended December 31, | ||||
|
2021 |
2020(b) |
2019(b) |
2018(b) |
2017(b) |
Net Asset Value, Beginning of Year |
$12.67 |
$12.71 |
$11.65 |
$12.69 |
$12.12 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.18 |
0.48 |
0.24 |
0.27 |
0.26 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
0.80 |
0.67 |
1.38 |
(0.49) |
0.81 |
Total From Investment Operations |
0.98 |
1.15 |
1.62 |
(0.22) |
1.07 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.20) |
(0.74) |
(0.26) |
(0.27) |
(0.27) |
From Net Realized Gains |
(0.59) |
(0.45) |
(0.30) |
(0.55) |
(0.23) |
Total Distributions |
(0.79) |
(1.19) |
(0.56) |
(0.82) |
(0.50) |
Net Asset Value, End of Year |
$12.86 |
$12.67 |
$12.71 |
$11.65 |
$12.69 |
Total Return (%)(c) |
7.82 |
9.32 |
13.99 |
(2.04) |
8.92 |
Net Assets, End of Year ($ millions) |
201 |
188 |
178 |
150 |
157 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.36 |
3.81 |
2.07 |
2.11 |
2.20 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(e) |
0.06 |
0.06 |
0.05 |
0.02 |
0.02 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(e) |
0.06 |
0.06 |
0.05 |
0.02 |
0.02 |
Portfolio Turnover Rate (%)(g) |
16.91 |
10.07 |
9.54 |
11.70 |
23.64 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$15.14 |
$15.51 |
$13.85 |
$15.55 |
$14.35 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.22 |
0.58 |
0.29 |
0.31 |
0.28 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
1.90 |
1.13 |
2.32 |
(0.90) |
1.66 |
Total From Investment Operations |
2.12 |
1.71 |
2.61 |
(0.59) |
1.94 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.28) |
(0.89) |
(0.31) |
(0.30) |
(0.29) |
From Net Realized Gains |
(1.00) |
(1.19) |
(0.64) |
(0.81) |
(0.45) |
Total Distributions |
(1.28) |
(2.08) |
(0.95) |
(1.11) |
(0.74) |
Net Asset Value, End of Year |
$15.98 |
$15.14 |
$15.51 |
$13.85 |
$15.55 |
Total Return (%)(b) |
14.19 |
11.67 |
19.15 |
(4.41) |
13.72 |
Net Assets, End of Year ($ millions) |
487 |
444 |
433 |
371 |
397 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.34 |
3.69 |
1.91 |
1.95 |
1.90 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.03 |
0.03 |
0.03 |
0.02 |
0.02 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.03 |
0.03 |
0.03 |
0.02 |
0.02 |
Portfolio Turnover Rate (%)(d) |
14.83 |
10.69 |
8.40 |
9.50 |
12.05 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$16.80 |
$17.36 |
$15.30 |
$17.72 |
$16.31 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.23 |
0.59 |
0.29 |
0.31 |
0.28 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
2.78 |
1.60 |
3.10 |
(1.41) |
2.39 |
Total From Investment Operations |
3.01 |
2.19 |
3.39 |
(1.10) |
2.67 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.35) |
(0.92) |
(0.33) |
(0.31) |
(0.28) |
From Net Realized Gains |
(1.60) |
(1.83) |
(1.00) |
(1.01) |
(0.98) |
Total Distributions |
(1.95) |
(2.75) |
(1.33) |
(1.32) |
(1.26) |
Net Asset Value, End of Year |
$17.86 |
$16.80 |
$17.36 |
$15.30 |
$17.72 |
Total Return (%)(b) |
18.21 |
13.72 |
22.74 |
(7.13) |
16.64 |
Net Assets, End of Year ($ millions) |
390 |
337 |
320 |
271 |
304 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.22 |
3.50 |
1.69 |
1.74 |
1.65 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(c) |
0.04 |
0.04 |
0.04 |
0.02 |
0.02 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(c) |
0.04 |
0.04 |
0.04 |
0.02 |
0.02 |
Portfolio Turnover Rate (%)(d) |
13.06 |
10.23 |
9.06 |
9.13 |
9.55 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$11.8520 |
$12.3148 |
$12.2150 |
12.0402 |
$11.9721 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
(0.0202) |
0.1845 |
0.3293 |
0.0810 |
$0.0773 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
(0.0047) |
(0.1478) |
(0.0838) |
0.1242 |
$0.0052 |
Total From Investment Operations |
(0.0249) |
0.0367 |
0.2455 |
0.2052 |
$0.0825 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
— |
(0.4986) |
(0.1457) |
(0.0304) |
$(0.0144) |
From Net Realized Gains |
— |
(0.0009) |
—(b) |
— |
— |
Return of Capital |
— |
—(b) |
— |
— |
— |
Total Distributions |
— |
(0.4995) |
(0.1457) |
(0.0304) |
$(0.0144) |
Net Asset Value, End of Year |
$11.8271 |
11.8520 |
$12.3148 |
12.2150 |
$12.0402 |
Total Return (%)(c) |
(0.17) |
0.28 |
2.01 |
1.71 |
0.70 |
Net Assets, End of Year ($ millions) |
173 |
122 |
154 |
210 |
71 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
(0.20) |
0.40 |
2.02 |
1.82 |
0.70 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.26 |
0.27 |
0.24 |
0.20 |
0.25 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.26 |
0.27 |
0.24 |
0.20 |
0.24(d) |
Portfolio Turnover Rate (%) |
NA |
NA |
NA |
NA |
NA |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$10.79 |
$10.63 |
$10.24 |
$10.41 |
$10.41 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.14 |
0.15 |
0.21 |
0.23 |
0.21 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
(0.36) |
0.39 |
0.41 |
(0.18) |
0.03 |
Total From Investment Operations |
(0.22) |
0.54 |
0.62 |
0.05 |
0.24 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.14) |
(0.38) |
(0.23) |
(0.22) |
(0.23) |
From Net Realized Gains |
(0.07) |
0.0000(e) |
— |
—(e) |
(0.01) |
Total Distributions |
(0.21) |
(0.38) |
(0.23) |
(0.22) |
(0.24) |
Net Asset Value, End of Year |
$10.36 |
$10.79 |
$10.63 |
$10.24 |
$10.41 |
Total Return (%)(c) |
(2.02) |
5.05 |
6.04 |
0.57 |
2.32 |
Net Assets, End of Year ($ millions) |
866 |
829 |
672 |
587 |
558 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.32 |
1.79 |
2.26 |
2.44 |
2.37 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.44 |
0.46 |
0.45 |
0.45 |
0.47 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.44 |
0.46 |
0.45 |
0.45 |
0.45(d) |
Portfolio Turnover Rate (%)(f) |
17.57 |
10.72 |
19.47 |
20.12 |
14.18 |
|
Years Ended December 31, | ||||
|
2021 |
2020(a) |
2019(a) |
2018(a) |
2017(a) |
Net Asset Value, Beginning of Year |
$15.01 |
$14.77 |
$14.07 |
$14.43 |
$14.34 |
Income (Loss) from Investment Operations |
|
|
|
|
|
Net Investment Income (Loss) |
0.23 |
0.28 |
0.35 |
0.38 |
0.37 |
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts |
(0.60) |
0.67 |
0.72 |
(0.36) |
0.15 |
Total From Investment Operations |
(0.37) |
0.95 |
1.07 |
0.02 |
0.52 |
Less Distributions |
|
|
|
|
|
From Net Investment Income |
(0.27) |
(0.70) |
(0.37) |
(0.38) |
(0.40) |
From Net Realized Gains |
(0.05) |
(0.01) |
— |
— |
(0.03) |
Return of Capital |
— |
—(b) |
— |
— |
— |
Total Distributions |
(0.32) |
(0.71) |
(0.37) |
(0.38) |
(0.43) |
Net Asset Value, End of Year |
$14.32 |
$15.01 |
$14.77 |
$14.07 |
$14.43 |
Total Return (%)(c) |
(2.45) |
6.40 |
7.65 |
0.17 |
3.62 |
Net Assets, End of Year ($ millions) |
2,049 |
1,873 |
1,574 |
1,346 |
1,274 |
Ratio of Net Income (Loss) to Average Net Assets (%) |
1.56 |
2.03 |
2.70 |
2.93 |
2.98 |
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) |
0.43 |
0.45 |
0.44 |
0.45 |
0.45 |
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) |
0.43 |
0.45 |
0.44 |
0.45 |
0.44(d) |
Portfolio Turnover Rate (%)(e) |
31.53 |
28.98 |
13.36 |
10.71 |
10.65 |
EQUITY INDEX FUND |
2015 RETIREMENT FUND |
ALL AMERICA FUND |
2020 RETIREMENT FUND |
MID CAP VALUE FUND |
2025 RETIREMENT FUND |
MID-CAP EQUITY INDEX FUND |
2030 RETIREMENT FUND |
SMALL CAP VALUE FUND |
2035 RETIREMENT FUND |
SMALL CAP GROWTH FUND |
2040 RETIREMENT FUND |
SMALL CAP EQUITY INDEX FUND |
2045 RETIREMENT FUND |
COMPOSITE FUND |
2050 RETIREMENT FUND |
INTERNATIONAL FUND |
2055 RETIREMENT FUND |
CATHOLIC VALUES INDEX FUND |
2060 RETIREMENT FUND |
BOND FUND |
2065 RETIREMENT FUND |
MID-TERM BOND FUND |
CONSERVATIVE ALLOCATION FUND |
MONEY MARKET FUND |
MODERATE ALLOCATION FUND |
RETIREMENT INCOME FUND |
AGGRESSIVE ALLOCATION FUND |
Name and Age |
Position Held With Fund |
Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen by Director |
Other Directorships Held by Director |
Carolyn N. Dolan, age 75 |
Director |
since April 2011 |
Executive Vice President, Head of Direct Client Investments, Fiera Capital Inc.; prior thereto Founding Principal and Portfolio Manager, Samson Capital Advisors LLC |
53 |
Director, Market Street Trust Company; Trustee, Fordham University; Mutual of America Variable Insurance Portfolios, Inc. |
Stanley E. Grayson, age 71 |
Director |
since November 2017 |
Vice Chairman and Chief Operating Officer, M.R. Beal & Company (Retired 2014) |
53 |
Director, TD Bank, N.A.; Director, YMCA of Greater New York; Trustee, College of the Holy Cross; Director, Mother Cabrini Health Foundation; Mutual of America Variable Insurance Portfolios, Inc. |
LaSalle D. Leffall, III, age 59 |
Director |
since April 2011 |
President and Founder of LDL Financial, LLC |
53 |
Advisory Board member, Cabot Properties; Mutual of America Variable Insurance Portfolios, Inc. |
John W. Sibal, age 69 |
Director |
since April 2011 |
President & Chief Executive Officer, Eustis Commercial Mortgage Corporation |
53 |
Director, Eustis Commercial Mortgage Corporation; Director, New Orleans Recreation Development Foundation; Mutual of America Variable Insurance Portfolios, Inc. |
Name and Age |
Position Held With Fund |
Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen by Director |
Other Directorships Held by Director |
Margaret M. Smyth, age 58 |
Director |
since February 2007 |
U.S. Chief Financial Officer, National Grid until 2021; prior thereto Vice President of Finance, Con Edison; prior thereto Vice President, Chief Financial Officer, Hamilton Sundstrand, a United Technologies Company |
53 |
Director, Lilium N.V.; Director, Remitly, Inc.; Director, Frontier Communications; Director, Etsy, Inc.; Director, CenTrio; Board of Trustees, Concern Worldwide, USA; Executive Committee, Fordham University President's Council; Mutual of America Variable Insurance Portfolios, Inc. |
William E. Whiston, age 68 |
Director |
since February 2011 |
Chief Financial Officer, the Archdiocese of New York; Adjunct Professor in Finance, Fordham University Graduate School of Business; prior thereto Executive Vice President and member, United States Management Board at Allied Irish Bank |
53 |
Director, Sterling National Bank; Trustee and Treasurer, Trustees of St. Patrick’s Cathedral in New York City; Trustee, St. Joseph’s Seminary; Mutual of America Variable Insurance Portfolios, Inc. |
James J. Roth, age 72 |
Chairman President, and Chief Executive Officer |
since August 2015 |
Senior Executive Vice President and General Counsel of Mutual of America since March 2013; Chairman, President and CEO of Mutual of America Investment Corporation since August 2015, of Mutual of America Variable Insurance Portfolios, Inc. since April 2019, and of Mutual of America Institutional Funds, Inc. until July 2020 |
53 |
Mutual of America Life Insurance Company; Mutual of America Variable Insurance Portfolios, Inc.; Mutual of America Holding Company LLC; Mutual of America Foundation |
Name, Age and Address(1) |
Position Held With Fund |
Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen |
Directorships Held by Officer (During Past Five Years) |
Chris W. Festog, age 60 |
Senior Executive Vice President, Chief Financial Officer and Treasurer |
since April 2013 |
Senior Executive Vice President and Chief Financial Officer, Mutual of America since March 2017; prior thereto Executive Vice President and Chief Financial Officer, Mutual of America since March 2015; prior thereto Executive Vice President and Deputy Treasurer, Mutual of America |
53 |
Mutual of America Holding Company LLC; Mutual of America Securities LLC |
Vincent R. FitzPatrick III, age 49 |
Vice President, Associate General Counsel and Corporate Secretary |
since April 2021 |
Vice President, Associate General Counsel and Corporate Secretary Mutual of America Investment Corporation and Mutual of America Variable Insurance Portfolios since 2021; prior thereto Vice President, Associate General Counsel and Assistant Corporate Secretary, Mutual of America since 2019; prior thereto Vice President, Associate General Counsel, Mutual of America |
53 |
None |
Name, Age and Address(1) |
Position Held With Fund |
Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen |
Directorships Held by Officer (During Past Five Years) |
Kathryn A. Lu, age 61 |
Executive Vice President and Chief Compliance Officer |
since July 2008 |
Executive Vice President and Chief Compliance Officer, Mutual of America; Executive Vice President and Chief Compliance Officer, Mutual of America Investment Corporation, and Mutual of America Variable Insurance Portfolios, Inc., and Executive Vice President and Chief Compliance Officer, Mutual of America Institutional Funds, Inc. until July 2020 |
53 |
None |
Christopher M. Miseo, age 66 |
Senior Vice President and Chief Accounting Officer |
since March 2013 |
Senior Vice President and Director of Accounting & Financial Reporting, Mutual of America |
53 |
None |
Name, Age and Address(1) |
Position Held With Fund |
Length of Time Served |
Principal Occupation(s) During Past Five Years |
Number of Portfolios in Fund Complex Overseen |
Directorships Held by Officer (During Past Five Years) |
Michelle A. Rozich, age 48 |
Executive Vice President, Enterprise Risk Management and Internal Auditor |
since March 2018 |
Executive Vice President, Enterprise Risk Management and Internal Auditor as of November 2020; prior thereto Senior Vice President and Internal Auditor, Mutual of America as of March 2018; Senior Vice President and Internal Auditor, Mutual of America Investment Corporation, and Mutual of America Variable Insurance Portfolios, Inc., and Senior Vice President and Internal Auditor, Mutual of America Institutional Funds, Inc. until July 2020; formerly Audit Senior Manager, KPMG LLP |
53 |
None |
Fund |
Dollar Range of Equity Securities in the Funds | ||||||
James J. Roth |
Carolyn N. Dolan |
Stanley E. Grayson |
LaSalle D. Leffall |
John W. Sibal |
Margaret M. Smyth |
William E. Whiston | |
Equity Index |
[Over $100,000] |
None |
None |
None |
None |
None |
None |
All America |
None |
None |
None |
None |
None |
None |
None |
Small Cap Value |
None |
None |
None |
None |
None |
None |
None |
Small Cap Growth |
None |
None |
None |
None |
None |
None |
None |
Mid Cap Value |
None |
None |
None |
None |
None |
None |
None |
Mid-Cap Equity Index |
[Over $100,000] |
None |
None |
None |
None |
None |
None |
Composite |
None |
None |
None |
None |
None |
None |
None |
International |
None |
None |
None |
None |
None |
None |
None |
Money Market |
None |
None |
None |
None |
None |
None |
None |
Catholic Values Index |
None |
None |
None |
None |
None |
None |
None |
Fund |
Dollar Range of Equity Securities in the Funds | ||||||
James J. Roth |
Carolyn N. Dolan |
Stanley E. Grayson |
LaSalle D. Leffall |
John W. Sibal |
Margaret M. Smyth |
William E. Whiston | |
Mid-Term Bond |
None |
None |
None |
None |
None |
None |
None |
Bond |
None |
None |
None |
None |
None |
None |
None |
Retirement Income |
None |
None |
None |
None |
None |
None |
None |
2015 Retirement |
None |
None |
None |
None |
None |
None |
None |
2020 Retirement |
None |
None |
None |
None |
None |
None |
None |
2025 Retirement |
None |
None |
None |
None |
None |
None |
None |
2030 Retirement |
None |
None |
None |
None |
None |
None |
None |
2035 Retirement |
None |
None |
None |
None |
None |
None |
None |
2040 Retirement |
None |
None |
None |
None |
None |
None |
None |
2045 Retirement |
None |
None |
None |
None |
None |
None |
None |
2050 Retirement |
None |
None |
None |
None |
None |
None |
None |
2055 Retirement |
None |
None |
None |
None |
None |
None |
None |
2060 Retirement |
None |
None |
None |
None |
None |
None |
None |
2065 Retirement |
None |
None |
None |
None |
None |
None |
None |
Conservative Allocation |
None |
None |
None |
None |
None |
None |
None |
Moderate Allocation |
None |
None |
None |
None |
None |
None |
None |
Aggressive Allocation |
None |
None |
None |
None |
None |
None |
None |
Aggregate Dollar Range of Equity Securities in the Funds: |
[Over $100,000] |
None |
None |
None |
None |
None |
None |
Name of Director |
Aggregate Compensation from Investment Company(1) |
Pension or Retirement Benefits Accrued as Part of Fund Expenses |
Estimated Benefits Upon Retirement |
Total Compensation from Investment Company and Other Investment Companies in Complex(2) |
Carolyn N. Dolan |
$98,980 |
None |
None |
$101,000 |
Stanley E. Grayson |
$98,980 |
None |
None |
$101,000 |
Name of Director |
Aggregate Compensation from Investment Company(1) |
Pension or Retirement Benefits Accrued as Part of Fund Expenses |
Estimated Benefits Upon Retirement |
Total Compensation from Investment Company and Other Investment Companies in Complex(2) |
LaSalle D. Leffall, III |
$98,980 |
None |
None |
$101,000 |
John W. Sibal |
$100,940 |
None |
None |
$103,000 |
Margaret M. Smyth |
$100,940 |
None |
None |
$103,000 |
William E. Whiston |
$98,980 |
None |
None |
$101,000 |
Fund |
2021 |
2020 |
2019 |
Equity Index |
$3,292,400 |
$2,442,682 |
$2,298,809 |
All America |
$1,413,859 |
$1,105,923 |
$1,186,363 |
Small Cap Value |
$4,092,184 |
$2,988,814 |
$3,580,011 |
Small Cap Growth |
$5,160,123 |
$4,143,040 |
$4,178,763 |
Small Cap Equity Index |
$102,234 |
$35,368 |
$19,309 |
Mid Cap Value |
$626,699 |
$447,573 |
$502,670 |
Mid-Cap Equity Index |
$1,500,838 |
$1,114,109 |
$1,127,749 |
Composite |
$826,220 |
$719,182 |
$736,622 |
International |
$829,997 |
$540,011 |
$453,298 |
Catholic Values Index |
$5,811 |
$1,196(1) |
N/A |
Money Market |
$222,276 |
$204,909 |
$290,472 |
Bond |
$3,266,362 |
$6,670,579 |
$5,689,024 |
Mid-Term Bond |
$7,720,703 |
$2,910,345 |
$2,513,361 |
Retirement Income |
$101,593 |
$76,883 |
$55,761 |
2010 Retirement(3) |
$0 |
$7,846 |
$12,766 |
2015 Retirement |
$70,374 |
$67,619 |
$72,113 |
2020 Retirement |
$305,161 |
$280,783 |
$284,212 |
2025 Retirement |
$555,358 |
$456,553 |
$411,102 |
2030 Retirement |
$554,326 |
$420,640 |
$365,605 |
2035 Retirement |
$486,977 |
$353,585 |
$304,855 |
2040 Retirement |
$411,678 |
$292,915 |
$248,965 |
2045 Retirement |
$425,120 |
$302,817 |
$261,584 |
2050 Retirement |
$316,147 |
$216,237 |
$176,276 |
2055 Retirement |
$138,092 |
$81,554 |
$51,587 |
2060 Retirement |
$49,940 |
$22,772 |
$6,973 |
2065 Retirement |
$4,849 |
$320(2) |
N/A |
Total Fees |
$32,479,321 |
$25,904,255 |
$24,828,250 |
Name |
Title |
Portfolios Managed/Overseen |
Incentive Compensation Benchmark |
Joseph R. Gaffoglio |
President |
Large Cap (All America Fund) Large Cap Core (Composite Fund) Retirement Funds Allocation Funds |
S&P 500® S&P 500® S&P 500® Bloomberg U.S. Aggregate Bond |
Stephen J. Rich |
Chief Executive Officer |
Small Cap Value (All America Fund) Small Cap Value Fund Mid Cap Value (All America Fund) Mid Cap Value Fund |
Russell 2000® Value Russell 2000® Value Russell Midcap® Value Russell Midcap® Value |
Jacqueline Sabella |
Senior Vice President, Fixed Income |
Bond Fund Fixed Income (Composite Fund) Mid-Term Bond Fund |
Bloomberg U.S. Aggregate Bond Bloomberg U.S. Aggregate Bond Bloomberg Intermediate U.S. Government/Credit Bond* |
Marguerite Wagner |
Executive Vice President, Portfolio Manager |
Small Cap Growth (All America Fund) Small Cap Growth Fund Mid Cap Core (All America Fund) |
Russell 2000® Growth Russell 2000® Growth |
Erik Wennerstrum |
Second Vice President, Portfolio Manager |
Equity Index Fund Small Cap Equity Index Fund Mid-Cap Equity Index Fund Equity Index (All America Fund) Catholic Values Index Fund |
S&P 500® S&P 600® S&P 400® S&P 500® S&P 500® Catholic Values Index |
Jamie A. Zendel |
Executive Vice President, Quantitative Research, Equity Indexes, Trading and Administration |
Equity Index Fund Small Cap Equity Index Fund Mid-Cap Equity Index Fund Equity Index (All America Fund) Catholic Values Index Fund International Fund Retirement Funds Allocation Funds |
S&P 500® S&P 600® S&P 400® S&P 500® S&P 500® Catholic Values Index MSCI EAFE S&P 500® Bloomberg U.S. Aggregate Bond |
Portfolio Manager |
Registered Investment Companies [Assets as of 12/31/21] |
Other Pooled Investment Vehicles [Assets as of 12/31/21] |
Other Accounts [Assets as of 12/31/21] |
Ownership of Securities |
Joseph R. Gaffoglio |
30 Funds [$8,920.3 million] |
0 |
0 |
IC Composite Fund [Over $100,000] IC Equity Index [$50,001-100,000] IC Mid- Cap Equity Index Fund [$50,001-100,000] IC Small Cap Value Fund [$10,001-50,000] |
Stephen Rich |
8 Funds [$799.3 million] |
0 |
2 other accounts: [$28.5 million] |
IC Small Cap Value Fund [over $100,000] IC Mid Cap Value Fund [$50,001-$100,000] |
Jacqueline Sabella |
5 Funds [$3,043.5 million] |
0 |
7 other accounts: [8,894.9 million] |
IC 2045 Retirement Fund [$50,001-$100,000] |
Marguerite Wagner |
6 Funds [$776.3 million] |
0 |
2 other accounts: [$22.2 million] |
IC Mid- Cap Equity Index Fund [over $100,000] IC Small Cap Growth Fund [$50,001-100,000] MOAIC Equity Index Fund [$10,001-$50,000] |
Portfolio Manager |
Registered Investment Companies [Assets as of 12/31/21] |
Other Pooled Investment Vehicles [Assets as of 12/31/21] |
Other Accounts [Assets as of 12/31/21] |
Ownership of Securities |
Erik Wennerstrum |
9 Funds [$7,675.7 million] |
0 |
4 other accounts [130.7 million] |
MOAIC Mid-Cap Equity Index Fund [$1,001-$10,000] MOAIC Small Cap Equity Index Fund [$1,001-$10,000] MOAIC Mid Cap Value Fund [$1,001-$10,000] MOAIC Small Cap Growth Fund [$1,001-$10,000] MOAIC Small Cap Value Fund [$1,001-$10,000] |
Jamie A. Zendel |
11 Funds [$8,892.1 million] |
0 |
4 other accounts [130.7 million] |
IC Equity Index [$50,001-100,000] IC Mid- Cap Equity Index Fund [over $100,000] IC Small Cap Growth Fund [$10,001-50,000] IC Small Cap Value Fund [$50,001-$100,000] |
Joseph R. Gaffoglio — President | |
•Length of Service: |
16 years at Adviser, 27 years in the investment management field |
•Role: |
Focus on quantitative research and risk management, and responsible for rebalancing and reallocation of the investments of the Investment Corporation Retirement Funds and Allocation Funds, and the Variable Insurance Portfolios Retirement Portfolios and Allocation Portfolios, and for managing large cap portfolios for Investment Corporation and Variable Insurance Portfolios |
•Education: |
Undergraduate, Fordham University; MBA New York University; CFA; CPA |
Stephen J. Rich — Chief Executive Officer | |
•Length of Service: |
18 years at Adviser; 30 years investment experience |
•Role: |
Portfolio Manager for the Investment Corporation Small Cap Value Fund, Mid Cap Value Fund and the small cap and mid-cap value segments of the Investment Corporation All America Fund; and for the Variable Insurance Portfolios Small Cap Value Portfolio, Mid Cap Value Portfolio and the small and mid-cap value segments of the Variable Insurance Portfolios All America Portfolio |
•Education: |
Undergraduate, Princeton University; MBA, New York University |
Jacqueline Sabella — Senior Vice President | |
•Length of Service |
22 years at Adviser, 25 years investment experience |
•Role |
Manager of mortgage-backed securities portfolio of fixed income funds and portfolios for the Investment Corporation and Variable Insurance Portfolios |
•Education |
Undergraduate, Marymount Manhattan College |
Marguerite Wagner — Executive Vice President and Portfolio Manager | |
•Length of Service: |
17 years at Adviser; 39 years investment experience |
•Role: |
Portfolio manager for the Investment Corporation Small Cap Growth Fund and the small cap and mid-cap growth segments of the Investment Corporation All America Fund; and for the Variable Insurance Portfolios Small Cap Growth Portfolio and the small cap and mid-cap growth segments of the Variable Insurance Portfolios All America Portfolio |
•Education: |
Undergraduate, Penn State University; MBA New York University |
Erik Wennerstrum – Second Vice President and Portfolio Manager | |
•Length of Service: |
2 years at Adviser; 7 years investment experience |
•Role: |
Works with the Adviser’s quantitative research group and serves as a portfolio manager of the Investment Corporation and Variable Insurance Portfolios equity index funds and portfolios. |
•Education: |
Undergraduate, James Madison University; CPA |
Jamie A. Zendel — Executive Vice President, Quantitative Research, Equity Indexes, Trading and Administration | |
•Length of Service: |
15 years at Adviser, 24 years investment experience |
•Role: |
Portfolio manager for the Investment Corporation and Variable Insurance Portfolios index funds and portfolios, and Retirement and Allocation funds and portfolios, and portfolio manager of Investment Corporation International Fund and Variable Insurance Portfolios International Portfolio |
•Education: |
Undergraduate, University of Wisconsin — Madison; FRM |
1. |
Value for December 24, 2021 (after adjustments for dividends)………$ 11.827913 |
2. |
Value for December 31, 2021 (exclusive of capital changes and any non-investment income, but after adjustments for dividends)………$ 11.826316 |
3. |
Net change equals Line 1 subtracted from Line 2………$ (0.001597) |
4. |
Base period return equals Line 3 divided by Line 1………$ (0.000135) |
5. |
Current yield equals Line 4 annualized (multiplied by 365/7)………-0.70% |
|
One Year |
Five Years |
Ten Years |
Life of Fund |
Inception Date |
Equity Index |
28.50% |
18.28% |
16.36% |
|
02/05/93 |
All America |
27.07% |
15.82% |
14.61% |
|
01/01/85 |
Small Cap Value |
32.29% |
6.94% |
9.80% |
|
07/01/05 |
Small Cap Growth |
10.38% |
16.72% |
13.66% |
|
07/01/05 |
Small Cap Equity Index |
26.56% |
NA |
NA |
10.74% |
07/02/18 |
Mid Cap Value |
34.35% |
11.62% |
12.11% |
|
07/01/05 |
Mid-Cap Equity Index |
24.56% |
12.89% |
14.01% |
|
05/03/99 |
Composite |
16.48% |
11.25% |
10.14% |
|
01/01/85 |
International |
10.37% |
9.27% |
7.79% |
|
11/05/07 |
Catholic Values Index |
28.99% |
NA |
NA |
34.27% |
09/30/20 |
Retirement Income |
5.77% |
6.16% |
5.84% |
|
11/05/07 |
2015 Retirement |
8.11% |
7.57% |
7.78% |
|
11/05/07 |
2020 Retirement |
9.80% |
8.74% |
8.84% |
|
11/05/07 |
2025 Retirement |
11.96% |
9.91% |
10.02% |
|
11/05/07 |
2030 Retirement |
15.29% |
11.23% |
11.11% |
|
11/05/07 |
2035 Retirement |
17.84% |
12.22% |
11.90% |
|
11/05/07 |
2040 Retirement |
19.89% |
12.79% |
12.26% |
|
11/05/07 |
2045 Retirement |
20.57% |
12.90% |
12.31% |
|
11/05/07 |
2050 Retirement |
20.82% |
12.93% |
NA |
11.98% |
10/01/12 |
2055 Retirement |
21.11% |
13.03% |
NA |
13.22% |
10/01/16 |
2060 Retirement |
21.60% |
NA |
NA |
13.24% |
07/02/18 |
2065 Retirement |
21.73% |
NA |
NA |
29.37% |
08/03/20 |
Conservative Allocation |
7.82% |
7.46% |
6.56% |
|
05/20/03 |
Moderate Allocation |
14.19% |
10.55% |
9.56% |
|
05/20/03 |
Aggressive Allocation |
18.21% |
12.32% |
11.59% |
|
05/20/03 |
Money Market |
-0.17% |
0.90% |
0.41% |
|
01/01/85 |
Mid-Term Bond |
-2.02% |
2.35% |
2.18% |
|
02/05/93 |
Bond |
-2.45% |
2.99% |
3.11% |
|
01/01/85 |
Aaa |
— |
Bonds which are rated Aaa are judged to be of the best quality. They carry the smallest degree of investment risk and are generally referred to as “gilt-edge”. Interest payments are protected by a large or by an exceptionally stable margin and principal is secure. While the various protective elements are likely to change, such changes as can be visualized are most unlikely to impair the fundamentally strong position of such issues. |
Aa |
— |
Bonds which are rated Aa are judged to be of high quality by all standards. Together with the Aaa group they comprise what are generally known as high-grade bonds. They are rated lower than the best bonds because margins of protection may not be as large as in Aaa securities or fluctuation of protective elements may be of greater amplitude or there may be other elements present which make the long-term risks appear somewhat larger than in Aaa securities. |
A |
— |
Bonds which are rated A possess many favorable investment attributes and are to be considered as upper medium grade obligations. Factors giving security to principal and interest are considered adequate but elements may be present which suggest a susceptibility to impairment sometime in the future. |
Baa |
— |
Bonds which are rated Baa are considered as medium grade obligations, i.e. they are neither highly protected nor poorly secured. Interest payments and principal security appear adequate for the present but certain protective elements may be lacking or may be characteristically unreliable over any great length of time. Such bonds lack outstanding investment characteristics and in fact have speculative characteristics as well. |
Ba |
— |
Bonds which are rated Ba are judged to have speculative elements; their future cannot be considered as well assured. Often the protection of interest and principal payments may be very moderate and thereby not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class. |
B |
— |
Bonds which are rated B generally lack characteristics of the desirable investment. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small. |
Caa |
— |
Bonds which are rated Caa are of poor standing. Such issues may be in default or there may be present elements of danger with respect to principal or interest. |
Ca |
— |
Bonds which are rated Ca represent obligations which are speculative in a high degree. Such issues are often in default or have other marked shortcomings. |
C |
— |
Bonds which are rated C are the lowest rated class of bonds and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing. |
AAA |
— |
Debt rated AAA has the highest rating assigned by Standard & Poor’s. Capacity to pay interest and repay principal is very strong. |
A |
— |
Debt rated A has a strong capacity to pay interest and repay principal, although it is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than debt in higher rated categories. |
BBB |
— |
Debt rated BBB is regarded as having an adequate capacity to pay interest and repay principal. Whereas it normally exhibits adequate protection parameters, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to pay interest and repay principal for debt in this category than in higher-rated categories. |
BB/ B/ CCC/ CC |
— |
Debt rated BB, B, CCC and CC is regarded, on balance, as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal in accordance with the terms of the obligation. BB indicates the lowest degree of speculation and CC the highest degree of speculation. While such debt will likely have some quality and protective characteristics, these are outweighed by large uncertainties or major risk exposures to adverse conditions. |
C |
— |
The rating C is reserved for income bonds on which no interest is being paid. |
D |
— |
Debt rated D is in default, and payment of interest and/or repayment of principal is in arrears. |
MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC |
By: |
|
/s/ Joseph Gaffoglio |
Joseph Gaffoglio |
President |
Dated: January 21,2022 |
1(a) |
Articles of Incorporation of Mutual of America Investment Corporation (the “Investment Company”) |
1(b) |
|
1(c) |
|
1(d) |
|
1(e) |
|
1(f) |
|
1(g) |
|
1(h) |
|
1(i) |
|
1(j) |
|
1(k) |
|
1(l) |
|
1(m) |
|
1(n) |
|
1(o) |
|
1(p) |
|
1(q) |
|
1(r) |
|
1(s) |
|
1(t) |
|
1(u) |
|
1(v) |
|
1(w) |
|
1(x) |
|
1(y) |
|
1(z) |
|
1(aa) |
|
1(bb) |
|
1(cc) |
|
1(dd) |
|
1(ee) |
|
1(ff) |
|
1(gg) |
|
1(hh) |
|
1(ii) |
|
1(jj) |
|
1(kk) |
1(ll) |
|
1(mm) |
|
1(nn) |
|
1(oo) |
|
1(pp) |
|
1(qq) |
|
2(a) |
|
2(b) |
|
2(c) |
|
2(d) |
|
2(e) |
|
2(f) |
|
4(a) |
|
4(b) |
|
4(c) |
|
4(d) |
|
4(e) |
|
4(f) |
|
4(g) |
|
4(h) |
|
4(i) |
|
4(j) |
|
4(k) |
|
4(l) |
|
4(m) |
|
4(n) |
|
4(o) |
|
5 |
|
7 |
|
8(a) |
|
8(b) |
|
8(c) |
|
8(d) |
9(a) |
|
9(b) |
|
9(c) |
|
9(d) |
|
9(e) |
|
9(f) |
|
9(g) |
|
9(h) |
|
9(i) |
|
10(a) |
|
10(d)(ii) |
|
10(d)(iv) |
|
10(d)(v) |
|
10(d)(vi) |
|
10(d)(vii) |
|
10(d)(viii) |
|
16(a) |
|
16(b) |
|
16(c) |
Name |
Positions With Adviser |
Principal Occupation During Past Two Years |
Mark C. Alexander c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Arthur J. Kania Dean and Professor of Law, Villanova University Charles Widger School of Law |
Theresa A. Bischoff c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Partner, R.C. Consulting, LLC; formerly Chief Executive Officer, American Red Cross of Greater New York |
Noreen Culhane c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Retired, formerly Executive Vice President, NYSE |
Nathaniel A. Davis c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Executive Chairman of the Board and former Chief Executive Officer, Stride, Inc.; prior thereto Managing Director, Rannd Advisers |
John E. Haire c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Managing Partner, Haire Media Ventures; formerly CEO, Concern Worldwide, U.S.; formerly CEO, Parade Media Group |
Christopher C. Quick c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
General Partner, Burke & Quick Holdings, LLP; formerly Vice Chairman, Banc of America Specialist |
James E. Quinn c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Retired, formerly President, Tiffany & Co. |
John J. Stack c/o Mutual of America 320 Park Avenue New York, NY 10022 |
Manager |
Retired, formerly Chairman and CEO of Ceska Sporitelna, Prague, Czech Republic |
Chris W. Festog 320 Park Avenue NY, NY 10022 |
Senior Executive Vice President, Chief Financial Officer and Treasurer |
Senior Executive Vice President and Chief Financial Officer of Mutual of America Life Insurance Company |
Joseph Gaffoglio 320 Park Avenue NY, NY 10022 |
President |
President as of March 2021; formerly Executive Vice President and Chief Operating Officer and Head of Investment Strategy as of March 2020 |
Name |
Positions With Adviser |
Principal Occupation During Past Two Years |
Kathryn A. Lu 320 Park Avenue NY, NY 10022 |
Executive Vice President and Chief Compliance Officer |
Executive Vice President and Chief Compliance Officer of Mutual of America Life Insurance Company |
Stephen J. Rich 320 Park Avenue NY, NY 10022 |
Chairman and Chief Executive Officer |
Chairman and Chief Executive Officer as of March 2021; formerly President and Chief Executive Officer as of March 2020 |
James J. Roth 320 Park Avenue NY, NY 10022 |
Senior Executive Vice President and General Counsel |
Senior Executive Vice President and General Counsel of Mutual of America Life Insurance Company |
Michelle A. Rozich 320 Park Avenue NY, NY 10022 |
Executive Vice President, Enterprise Risk Management and Internal Auditor |
Executive Vice President, Enterprise Risk Management and Internal Auditor as of November 2020; prior thereto Senior Vice President and Internal Auditor |
Marguerite H. Wagner 320 Park Avenue NY, NY 10022 |
Executive Vice President, Equities Portfolio Manager |
Executive Vice President, Equities Portfolio Manager of the Adviser |
Jamie A. Zendel 320 Park Avenue NY, NY 10022 |
Executive Vice President, Quantitative Research, Equity Indexes, Trading and Administration |
Executive Vice President, Quantitative Research, Equity Indexes, Trading and Administration; formerly Senior Vice President and Head of Quantitative Research |
James P. Accurso 320 Park Avenue NY, NY 10022 |
Senior Vice President, Director of Fixed Income Research |
Senior Vice President of the Adviser |
Duygu Akyatan 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Jacqueline Sabella 320 Park Avenue NY, NY 10022 |
Senior Vice President, Fixed Income |
Senior Vice President of the Adviser |
Myron Schlanger 320 Park Avenue NY, NY 10022 |
Senior Vice President, Administration |
Senior Vice President, Administration |
Christopher W. Butler 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Evan B. Carpenter 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Martin F. Fetherston 320 Park Avenue NY, NY 10022 |
Vice President, Fixed Income |
Vice President of the Adviser |
Vincent R. FitzPatrick III 320 Park Avenue NY, NY 10022 |
Vice President, Associate General Counsel and Corporate Secretary |
Vice President and Associate General Counsel of Mutual of America Life Insurance Company |
Kevin Frain 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Name |
Positions With Adviser |
Principal Occupation During Past Two Years |
Andrew Hirschfeld 320 Park Avenue NY, NY 10022 |
Vice President, Fixed Income Quantitative Analyst |
Vice President of the Adviser |
Alexander Kotlyar 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Robert J. Lewis III 320 Park Avenue NY, NY 10022 |
Vice President, Fixed Income Research |
Vice President of the Adviser |
Isabel Macalintal 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
Joseph P. O’Reilly 320 Park Avenue NY, NY 10022 |
Vice President, Marketing |
Vice President of the Adviser |
Nirav Parikh 320 Park Avenue NY, NY 10022 |
Vice President, Equities Research |
Vice President of the Adviser |
John Polcari 320 Park Avenue NY, NY 10022 |
Vice President, Fixed Income Research |
Vice President of the Adviser |
Jerry H. Tempelman 320 Park Avenue NY, NY 10022 |
Vice President, Fixed Income Analyst |
Vice President of the Adviser as of October 2021; formerly Director at Moody's Analytics |
Bryant Law 320 Park Avenue NY, NY 10022 |
Second Vice President, Fixed Income |
Second Vice President of the Adviser |
Ron Viener 320 Park Avenue NY, NY 10022 |
Second Vice President, Equities Trader |
Second Vice President of the Adviser as of October 2020; formerly Vice President, Investor Relations at ICR Inc., and Partner, Investments at Daruma Capital Management |
Paul Welsh 320 Park Avenue NY, NY 10022 |
Second Vice President, Administration |
Second Vice President of the Adviser |
Erik Wennerstrum 320 Park Avenue NY, NY 10022 |
Second Vice President, Quantitative Research |
Second Vice President of the Adviser |
Name and Principal Business Address* |
Positions and Offices With Principal Underwriter |
John R. Greed |
Chairman of the Board, President and Chief Executive Officer |
James J. Roth |
Director, Senior Executive Vice President and General Counsel |
Rosemary T. Berkery |
Director |
Gwendolyn Hatten Butler |
Director |
Kimberly A. Casiano |
Director |
Wayne A. I. Frederick, M. D. |
Director |
Earle H. Harbison, Jr. |
Director |
Maurine A. Haver |
Director |
Senator Connie Mack |
Director |
Robert J. McGuire, Esq. |
Director |
Ellen Ochoa, Ph.D. |
Director |
Roger B. Porter, Ph.D. |
Director |
Paula A. Price |
Director |
General Dennis J. Reimer |
Director |
Name and Principal Business Address* |
Positions and Offices With Principal Underwriter |
John R. Greed |
Chairman, President and Chief Executive Officer |
James J. Roth |
Director, Senior Executive Vice President and General Counsel |
Name and Principal Business Address* |
Positions and Offices With Principal Underwriter |
Christopher Bailey |
Executive Vice President, Sales Operations |
Simpa Baiye |
Executive Vice President and Chief Actuary |
Cynthia G. Banks |
Senior Vice President, National Accounts |
Debbie Branson |
Senior Vice President, Human Resources |
Maria L. Brophy |
Senior Vice President, Planning and Analysis |
Anne Marie Carroll |
Senior Vice President and Associate General Counsel |
Tanisha L. Cash |
Senior Vice President, Human Resources |
Thomas Ciociano |
Senior Vice President, Real Estate and Payroll |
John P. Clare |
Senior Vice President, Corporate and Operational Communications |
Joni L. Clark |
Senior Vice President, Client Services |
Michael E. Conway |
Senior Vice President, Head of Human Resources |
Salvatore P. Conza |
Senior Vice President, Data Communications, Network and Technical Services |
Debra Cruz |
Senior Vice President, Customer Experience Management |
Nicholas S. Curabba |
Senior Vice President, Associate General Counsel and Corporate Secretary |
Jeffrey W. Donaldson |
Senior Executive Vice President, Head of Technology and Chief Digital Officer |
Chris W. Festog |
Senior Executive Vice President and Chief Financial Officer |
Tara Favors |
Executive Vice President and Chief Human Resources Officer |
Ronald Fried |
Senior Vice President, Business Relationship Management and Analysis |
Neal S. Goldstein |
Executive Vice President and Chief Technology Officer |
Aferdita Gutierrez |
Executive Vice President, Deputy Treasurer |
Kim M. Hughes |
Senior Vice President, Strategic Marketing Communications |
Joseph Hummel |
Executive Vice President, External Affairs |
Lydia Kieser |
Senior Vice President, Application Services |
Mark Koehne |
Senior Vice President and Actuary |
Andrew Kramer |
Senior Vice President, Client Services |
Name and Principal Business Address* |
Positions and Offices With Principal Underwriter |
Nicole Lanni |
Senior Vice President, Technical Services and Chief Privacy Officer |
Lisa M. Loughry |
Executive Vice President, National Accounts |
Kathryn A. Lu |
Executive Vice President and Chief Compliance Officer |
Dennis McManus |
Senior Vice President, Billing and Regulatory Services/Life and Disability Claims |
Christopher Miseo |
Senior Vice President and Director of Accounting and Financial Reporting |
Bhavisha Modi |
Senior Vice President, Enterprise Risk Management |
Shannon Moriarty 1150 Broken Sound Parkway NW, Boca Raton, FL 33487-3598 |
Executive Vice President, Administrative Operations |
Thomasin R. Mullen |
Executive Vice President, Corporate and Marketing Communications |
Paul O’Hara |
Senior Vice President, Research and Competition |
James J. Roth |
Senior Executive Vice President and General Counsel |
Michelle A. Rozich |
Executive Vice President, Enterprise Risk Management and Internal Auditor |
Steven G. Sacchi |
Senior Vice President, Procurement |
William Sample |
Senior Vice President and Corporate Actuary |
Sonia Samuels |
Executive Vice President and Chief Information Officer |
Myron Schlanger |
Senior Vice President, Administration |
Brian Q. Severin |
Senior Executive Vice President, Chief Marketing Officer |
Subhang Shah |
Executive Vice President and Deputy Chief Information Officer |
Paul F. Stephen |
Senior Vice President and Controller |
John Terwilliger 1150 Broken Sound Parkway NW, Boca Raton, FL 33487-3598 |
Senior Vice President, Facilities Management |
Kenneth P. Young |
Senior Vice President, Treasury and Project Management |
MUTUAL OF AMERICA INVESTMENT CORPORATION | |
By: |
/s/ James J. Roth |
|
Chairman, President and Chief Executive Officer |
Signatures |
Title |
/s/ James J. Roth |
Director; Chairman, President and Chief Executive Officer (Principal Executive Officer) |
James J. Roth |
|
/s/ Chris W. Festog |
Senior Executive Vice President, Chief Financial Officer and Treasurer (Principal Accounting Officer) |
Chris W. Festog |
|
* |
Director |
Carolyn N. Dolan |
|
* |
Director |
Stanley E. Grayson |
|
* |
Director |
LaSalle D. Leffall, III |
|
* |
Director |
John W. Sibal |
|
* |
Director |
Margaret M. Smyth |
|
* |
Director |
William E. Whiston |
|
* By: |
/s/ James J. Roth |
|
James J. Roth |
|
Attorney-in-Fact |