Homestead Funds | Total Returns

Performance Updates
Total Returns

Total return is the change in share price from the beginning of the period to the end of period, expressed as a percent of the price on the start date. Total return calculations assume any fund distributions are reinvested.

The table below shows each Fund’s average annual total return for various holding periods compared to its broad-based benchmark index, if applicable. An index is a collection of securities intended to represent some slice of the total securities market.

Performance comparison
as of quarter 12/31/11			see month end returns
	1 year	3 year	5 year	10 year	Since the fund opened
Money Market Fund
Daily Income Fund	0.01%	0.11%	1.40%	1.62%	3.13%
Bond Funds
Short-Term Gov. Securities Fund	2.03%	2.48%	3.61%	3.05%	4.06%
BofA Merrill Lynch 1-5 Year U.S. Treasury Index	3.36%	2.39%	4.77%	3.97%	5.13%
Short-Term Bond Fund	1.90%	7.83%	4.82%	3.96%	5.03%
BofA Merrill Lynch 1-5 Year Corp./Gov. Index	3.10%	4.05%	4.81%	4.25%	5.50%
Equity Funds
Stock Index Fund*	1.65%	13.55%	-0.79%	2.27%	0.67%
Standard & Poor’s 500 Stock Index	2.11%	14.11%	-0.25%	2.92%	1.30%
Value Fund	1.60%	13.41%	-0.87%	4.82%	9.06%
Standard & Poor’s 500 Stock Index	2.11%	14.11%	-0.25%	2.92%	8.92%
Growth Fund**	-2.09%	19.71%	3.56%	2.21%	-3.41%
Russell 1000 Growth Index	2.64%	18.02%	2.50%	2.60%	-0.31%
Standard & Poor’s 500 Stock Index	2.11%	14.11%	-0.25%	2.92%	1.31%
Small-Company Stock Fund	0.58%	25.04%	5.40%	9.50%	7.75%
Russell 2000 Index	-4.18%	15.62%	0.15%	5.62%	4.80%
International Value Fund***	-16.55%	3.57%	-4.94%	3.95%	1.22%
MSCI® EAFE® Index	-12.14%	7.65%	-4.72%	4.67%	2.05%

Performance comparison
as of month end 01/31/12			see quarter end returns
	1 year	3 year	5 year	10 year	Since the fund opened
Money Market Fund
Daily Income Fund	0.01%	0.09%	1.32%	1.61%	3.12%
Bond Funds
Short-Term Gov. Securities Fund	2.19%	2.58%	3.61%	3.05%	4.06%
BofA Merrill Lynch 1-5 Year U.S. Treasury Index	TBA	TBA	TBA	TBA	TBA
Short-Term Bond Fund	2.22%	7.55%	4.92%	4.00%	5.05%
BofA Merrill Lynch 1-5 Year Corp./Gov. Index	TBA	TBA	TBA	TBA	TBA
Equity Funds
Stock Index Fund*	3.67%	18.62%	-0.23%	2.87%	1.01%
Standard & Poor’s 500 Stock Index	TBA	TBA	TBA	TBA	TBA
Value Fund	2.70%	18.65%	-0.41%	5.46%	9.23%
Standard & Poor’s 500 Stock Index	TBA	TBA	TBA	TBA	TBA
Growth Fund**	2.25%	23.36%	4.53%	2.99%	-2.81%
Russell 1000 Growth Index	TBA	TBA	TBA	TBA	TBA
Standard & Poor's 500 Stock Index	TBA	TBA	TBA	TBA	TBA
Small-Company Stock Fund	7.63%	33.32%	6.89%	10.31%	8.31%
Russell 2000 Index	TBA	TBA	TBA	TBA	TBA
International Value Fund***	-11.51%	10.74%	-3.74%	5.41%	1.97%
MSCI® EAFE® Index	TBA	TBA	TBA	TBA	TBA

* Performance information for the Stock Index Fund reflects its investment experience in S&P 500 Index Master Portfolio from October 15, 2007, to period end. Prior to October 15, 2007, the Stock Index Fund invested all of its assets in a different master portfolio.

**Performance information for the Growth Fund (formerly the Nasdaq-100 Index Tracking Stock^SM Fund) reflects its previous investment strategy from inception through December 5, 2008, of matching, as closely as possible, before expenses, the performance of the Nasdaq-100 Stock Index.

*** Performance information for the International Value Fund (formerly the International Stock Index Fund) reflects its investment experience in the State Street MSCI ® EAFE ® Index Portfolio from its inception through October 16, 2005, in the Vanguard Developed Markets Index Fund from October 17, 2005 to June 9, 2006, and as an actively managed fund subadvised by Mercator Asset Management from June 12, 2006, to period end.

The total returns shown above represent past performance which does not guarantee future results. Investment return and principal value of an investment will fluctuate. An investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted.