The Stock Index Fund (HSTIX) is a stock fund that seeks to match, as closely as possible, before expenses, the performance of the Standard & Poor’s 500 Stock Index (the “Index”), which emphasizes stocks of large U.S. companies.
The Stock Index Fund is a feeder fund, meaning that it invests all of its investable assets in a master portfolio. The fund invests its assets in the S&P 500 Index Master Portfolio, a separate series of an unaffiliated trust called the Master Investment Portfolio.
|Inception||October 28, 1999|
|Morningstar Category||Large Blend|
|Lipper Classification||S&P 500 Index|
|Benchmark||S&P 500 Stock Index|
|Expense Ratio||0.55% (12/31/17)|
|Median Expense Ratio for Peer Group||0.52% (12/31/17)|
|Minimum for Initial Purchase||$500/$200 IRA|
The expense ratio shows the percentage of fund assets deducted annually to cover operating costs. Fund expense ratios shown here do not include acquired fund fees and expenses. If applicable, these additional costs are disclosed in the prospectus. For some funds, the investment advisor has agreed voluntarily or contractually (for at least the current fiscal year) to waive or reimburse a portion of expenses. The net expense ratio is the expense ratio minus the portion of expenses waived or reimbursed. Please see the current prospectus for additional details. The peer ratio is according to Morningstar Direct, based on each fund’s Morningstar classification.
|Morningstar Overall Rating||****|
Lipper ratings for Tax Efficiency reflect the Fund’s success at deferring taxes over the measurement period as of 9/30/18. Lipper ratings for Preservation reflect Fund’s historical loss avoidance relative to other funds in the same asset class as of 9/30/18. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Tax Efficiency and Preservation metrics over three- , five- and 10-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1. Homestead Stock Index Fund, in Lipper’s S&P 500 Index classification, received a rating of 5 for the three-, five- and Overall periods, respectively (number of funds rated in parentheses). Tax Efficiency: Three Year (114 funds), Five Year (106 funds) and Overall (114 funds). Preservation: Three Year (12,172 funds), 5 Year (10,245 funds), 10 Year (6,894 funds) and Overall (12,172 funds). Homestead Stock Index Fund, in Lipper’s S&P 500 Index classification, received a rating of 4 for the 10-year period in Tax Efficiency (96 funds). Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at lipperleaders.com.
Morningstar rated this Fund, in Morningstar’s large blend category, 4 stars for the Overall period out of 1,196 funds, 3 stars for the 10-year period out of 794 funds, 4 stars for the five-year period out of 1,058 funds and 4 stars for the three-year period out of 1,196 funds for performance periods ending 9/30/18. The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
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Equity securities generally have greater price volatility than fixed-income securities and are subject to issuer risk and market risk. The Stock Index Fund pursues its objective by investing substantially all of its assets in another pooled investment vehicle (a “master fund”). The ability of the Stock Index Fund to meet its investment objective is directly related to the ability of the master fund to meet its investment objective. Index funds may hold securities of companies that present risks that an investment adviser researching individual securities might otherwise seek to avoid and are subject to tracking error risk. BlackRock Fund Advisors is not affiliated with Homestead Funds, RE Advisers Corporation, RE Investment Corporation or NRECA.