Benchmark Definitions For US Mutual Funds, Variable Insurance Funds and Separately Managed Accounts

Benchmark Name

Benchmark Definition

Russell 2000 Index

Russell 2000 Index measures U.S. small-cap stocks.

Bloomberg U.S. Aggregate Bond Index

Bloomberg U.S. Aggregate Bond Index measures the U.S. bond market.

Bloomberg U.S. Government/Mortgage Bond Index

Bloomberg U.S. Government/Mortgage Bond Index measures government and mortgage securities markets.

Bloomberg Municipal Bond Index

Bloomberg Municipal Bond Index measures the municipal bond market.

MSCI Emerging Markets Index

MSCI Emerging Markets Index measures emerging market stocks.

MSCI World Index

MSCI World Index measures stock markets in the developed world.

Standard & Poor's 500 Stock Index

Standard& Poor's 500 Stock Index measures the broad U.S. stock market.

Standard & Poor's 500 Utilities Index

Standard& Poor's 500 Utilities Index measures the utilities sector.

Bloomberg 1-3 Year U.S. Government/Credit Bond Index

Bloomberg 1-3 Year U.S. Government/Credit Bond Index measures the short term (1 to 3 years) government and investment-grade corporate bond markets.

Russell 3000 Index

Russell 3000 Index measures the U.S. stock market.

Russell 1000 Index

Russell 1000 Index measures large-cap U.S. stocks.

Russell MidCap Index

Russell MidCap Index measures U.S. mid-cap stocks.

Russell 1000 Growth Index

Russell 1000 Growth Index measures large-cap U.S. growth stocks.

Russell 1000 Value Index

Russell 1000 Value Index measures large-cap US. value stocks.

Russell 2000 Growth Index

Russell 2000 Growth Index measures U.S. small-cap growth stocks.

Russell 2000 Value Index

Russell 2000 Value Index measures U.S. small-cap value stocks.

Russell Midcap Growth Index

Russell Midcap Growth Index measures U.S. mid-cap growth stocks.

Russell Midcap Value Index

Russell Midcap Value Index measures U.S. mid-cap value stocks.

MSCI All Country World Index

MSCI All Country World Index measures developed and emerging market stock markets.

Bloomberg U.S. Credit Bond Index

Bloomberg U.S. Credit Bond Index is a market capitalization-weighted index that measures the performance of publicly issued, SEC-registered, U.S. corporate and specified foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements.

J.P. Morgan Emerging Markets Bond Index Global

JPMorgan Emerging Markets Bond Index Global tracks debt instruments in the emerging markets (includes a broader array of countries than the EMBI Plus).

Bloomberg 1-3 Year U.S. Treasury Bond Index_ver1

Bloomberg 1-3 Year U.S. Treasury Bond Index measures U.S. Treasury bonds with a maturity from 1 year up to (but not including) 3 years.

Standard & Poor's North American Technology Sector Index

Standard& Poor's North American Technology Sector Index measures technology stocks.

MSCI EAFE (Europe, Australasia, Far East) Value Index (gross div)

MSCI EAFE (Europe, Australasia, Far East) Value Index measures non-US value stocks.

MSCI All Country World Growth Index

MSCI All Country World Growth Index measures global growth stocks.

Bloomberg U.S. Treasury Inflation Protected Securities Index

Bloomberg U.S. Treasury Inflation Protected Securities Index consists of inflation-protection securities issued by the U.S. Treasury.

MSCI All Country World (ex-US) Index

MSCI All Country World (ex-US) Index measures developed and emerging market stock markets.

MSCI EAFE (Europe, Australasia, Far East) Value Index (net div)

MSCI EAFE (Europe, Australasia, Far East) Index- a market capitalization-weighted index that is designed to measure equity market performance in the developed markets, excluding the U.S. and Canada.

MSCI All Country World (ex-US) Growth Index

MSCI All Country World (ex-US) Growth Index is a market capitalization index that is designed to measure equity market performance for growth securities in the global developed and emerging markets, excluding the U.S.

J.P. Morgan GBI-EM Global Diversified Index

JPMorgan GBI-EM Global Diversified Index is a market capitalization weighted index that is designed to measure the performance of local currency government bonds issued in emerging markets. The index includes only the countries which give access to their capital market to foreign investors; it therefore excludes China, India, and Thailand. Individual country weights in the index are limited to 10% in order for the index to remain fully diversified.

Bloomberg Global Aggregate Bond Index

Bloomberg Global Aggregate Bond Index provides a broad-based measure of the global investment-grade fixed income markets.

BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index

The BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index tracks the performance of U.S. dollar denominated U.S. Treasury Bills publicly issued in the U.S. domestic market with a remaining term to final maturity of less than 3 months.

Bloomberg U.S. High-Yield Corporate Bond 2% Issuer Capped Index

Bloomberg U.S. High-Yield Corporate Bond 2% Issuer Capped Index is a market capitalization-weighted index that measures the performance of non-investment grade, fixed rate debt. Eurobonds and debt issues from countries designated as emerging markets are excluded. This index is the 2% Issuer Cap component of the U.S. Corporate High Yield index.

MSCI All Country World (ex-US) Small Mid Cap Index

The MSCI All Country World (ex-US) Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries, excluding the United States.

MSCI All Country World Small Mid Cap Index

The MSCI All Country World Small Mid Cap Index is a free float weighted index that is designed to measure equity market performance of small and mid cap companies across global developed and emerging market countries.

Bloomberg World Government Inflation-Linked Bond Index

Bloomberg World Government Inflation-Linked Bond Index measures the performance of the major government inflation-linked bond markets.

FTSE EPRA/NAREIT Developed Real Estate Index

FTSE EPRA/NAREIT Developed Real Estate Index measures the performance of eligible real estate equities worldwide that generate a majority of their revenue and income through the ownership, disposure and development of income-producing real estate.

BofA Merrill Lynch Global High Yield Constrained Index (USD Hedged)

BofA Merrill Lynch Global High Yield Constrained Index (USD Hedged) tracks the performance of below-investment-grade corporate debt of issuers domiciled in countries having an investment-grade foreign currency long-term debt rating (based on an average of Moody's and S&P).  The Index is weighted by outstanding issuance, but constrained such that the percentage of any one issuer may not represent more than 2% of the Index.

Bloomberg 1-9 Year Municipal Bond Index

Bloomberg 1-9 Year Municipal Bond Index is a market capitalization-weighted index that measures the performance of the medium-term (1 to 9 years) tax-exempt bond market.

Bloomberg Commodity Index

Bloomberg Commodity Index is designed to be a highly liquid and diversified benchmark for the commodity futures market. The Index tracks trades on futures contracts for physical commodities, such as energy (petroleum, gas), precious metals (gold, silver), industrial metals (zinc, copper),grains (corn, wheat), livestock (live cattle/ lean hogs), among others, and are traded in a variety of currencies.

JPMorgan Global Government Bond Index (Unhedged)

JPMorgan Global Government Bond Index (Unhedged) - measures developed government bond markets around the world.

 

 

 

 

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