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S&P 500 Index The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the Index proportionate to its market value. The S&P 500 is one of the most widely used benchmarks of U.S. equity performance. |
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S&P 500/Citigroup Growth or Value Index These indices are designed to differentiate between fast growing companies and slower growing or undervalued companies. Standard & Poor's and Citigroup cooperate to employ a Price to Book value calculation, whereby the market capitalization of an index (S&P 500, S&P MidCap 400, S&P SmallCap 600) is divided equally between growth and value. The growth and value definition are only available on the US indices. The indices are rebalanced twice per year. |
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S&P SmallCap 600/Citigroup Growth or Value Index These indices are designed to differentiate between fast growing companies and slower growing or undervalued companies. Standard & Poor's and Citigroup cooperate to employ a Price to Book value calculation, whereby the market capitalization of an index (S&P 500, S&P MidCap 400, S&P SmallCap 600) is divided equally between growth and value. The growth and value definition are only available on the US indices. The indices are rebalanced twice per year. |
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Salomon Brothers High-Yield Market Index Captures the performance of below-investment-grade debt issued by corporations domiciled in the US or Canada. This index is a broad market measure and includes cash-pay and deferred-interest securities. |
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SEC 30 Day Yield The net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. The SEC Yield should be regarded as an estimate of the fund's rate of investment income, and it may not equal the fund's actual income distribution rate, the income paid to a shareholder's account, or the income reported in the fund's financial statements. |
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Securities Investments, including stocks, bonds, and money market instruments. |
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Share A unit of equity ownership in a corporation, represented by a stock certificate, which names the company and the shareowner. Also a unit of ownership in a mutual fund. |
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Shareholder Someone who owns shares in a mutual fund. |
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Short-term Capital Gain A profit on the sale of a security or mutual fund share held for one year or less. |
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Small Capitalization (Cap) Stocks The stock of companies whose market value is usually less than $650 million. Small cap companies grow faster than large cap companies and typically use any profits for expansion rather than for paying dividends. They often have higher risk but also greater potential for capital gains. |
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Standard Deviation The degree to which a fund's return varies from the average of all similar funds. |
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Statement of Additional Information A supplement to a mutual fund's prospectus, provided under separate cover. It contains more detailed information about fund policies, operations, and investment risks and lists all officers and directors of the fund and their compensation. |
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Stock Also known as equity, stock represents ownership position in a business entity, such as a company or corporation. Each share of stock represents a proportionate share of ownership. |
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Stock Fund A mutual fund that invests mainly in stocks. |
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Stock Split Distribution of new shares to each stock shareholder on a proportional basis to the number of shares already held by that individual. |
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