- Through its investment in the SPDR S&P 600 Small Cap ETF, the Portfolio seeks to provide investment results that, before expenses, correspond generally to the total return performance of an index that tracks the performance of small capitalization exchange traded U.S. equity securities.
- In seeking to track the performance of the S&P Small Cap 600 Index (the "Small Cap Index"), the Underlying Fund employs a replication strategy, which means that the Underlying Fund typically invests in substantially all of the securities represented in the Small Cap Index in approximately the same proportions as the Index.
- Under normal market conditions, the Underlying Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Small Cap Index.
Fees and Minimums
â The expense ratio is an estimate of the asset-based expenses for the Portfolio and includes estimated underlying fund expenses, the program management fee and any applicable distribution and service fee. Portfolio performance is shown net of expenses. Please see the expense tables in the Disclosure Booklet for more information.
Total return assumes reinvestment of income.
Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.
The S&P Small Cap 600 Index is afloat-adjusted and market capitalization weighted index measuring performance of the small-capitalization sector in the US equity market. The Index includes all US common equities listed on the NYSE, NASDAQ Global Select Market, NASDAQ Select Market and NASDAQ Capital Market with market capitalizations between $250 million and $1.2 billion.
Total return assumes reinvestment of dividends and capital gains distributions from the Underlying Funds and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Underlying Fund's advisory or administrative fees for certain periods since the inception date. If fees had not been waived, performance would have been less favorable.
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An investment in certain Underlying Funds involves risks similar to those of investing in any fund of equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices.
The Underlying Funds advised by SSgA FM will seek to replicate Index returns regardless of the current or projected performance of the Index or of the actual securities comprising the Index. As a result, the Underlying Fund's performance may be less favorable than that of a portfolio managed using an active investment strategy. The structure and composition of the Index will affect the performance, volatility, and risk of the Index and, consequently, the performance, volatility, and risk of the Underlying Fund. The Underlying Fund's performance may not match that of the Index.
As a "non-diversified" fund, an Underlying Fund may hold a smaller number of portfolio securities than many other funds. To the extent the Underlying Fund invests in a relatively small number of issuers, a decline in the market value of a particular security held by the Underlying Fund may affect its value more than if it invested in a larger number of issuers. The value of Fund Shares may be more volatile than the values of shares of more diversified funds.
Small-sized companies may be more volatile and more likely than large- and mid-capitalization companies to have relatively limited product lines, markets or financial resources, or depend on a few key employees. Returns on investments in stocks of small companies could trail the returns on investments in stocks of larger companies.
While the SSGA FM seeks to track the performance of the Index (i.e., achieve a high degree of correlation with the Index), the Underlying Fund's return may not match the return of the Index. The Fund incurs a number of operating expenses not applicable to the Index, and incurs costs in buying and selling securities. In addition, the Underlying Fund may not be fully invested at times, generally as a result of cash flows into or out of the Underlying Fund or reserves of cash held by the Underlying Fund to meet redemptions. SSGA FM may attempt to replicate the Index return by investing in fewer than all of the securities in the Index, or in some securities not included in the Index, potentially increasing the risk of divergence between the Underlying Fund's return and that of the Index.
Average Life: The length of time the principal of a debt issue is expected to be outstanding.
|NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE|
Before you invest, consider whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Advisor-Guided Plan. Neither the State of New York nor its agencies insures accounts or guarantees the principal deposited therein or any investment returns on any amount or investment portfolio.
Ascensus Broker Dealer Services, Inc. and Ascensus Investment Advisors, LLC serve as Program Manager and Recordkeeping and Servicing Agent, respectively, and are responsible for day-to-day operations, including effecting transactions. J.P. Morgan Investment Management Inc. serves as the Investment Manager. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase& Co. JPMorgan Distribution Services, Inc. markets and distributes the Advisor-Guided Plan. JPMorgan Distribution Services, Inc. is a member of FINRA/SIPC.
New York’s 529 College Savings Program includes two separate 529 plans. The Advisor-Guided Plan is sold exclusively through financial advisors who have entered into Advisor-Guided Plan selling agreements with JPMorgan Distribution Services, Inc. You may also participate in the Direct Plan, which is sold directly by the Program and offers lower fees. However, the investment options available under the Advisor-Guided Plan are not available under the Direct Plan. The fees and expenses of the Advisor-Guided Plan include compensation to the financial advisor. Be sure to understand the options available before making an investment decision.
For more information about New York's 529 Advisor-Guided College Savings Program, you may contact your financial advisor or obtain an Advisor-Guided Plan Disclosure Booklet and Tuition Savings Agreement at www.ny529advisor.com or by calling 1-800-774-2108. This document includes investment objectives, risks, charges, expenses, and other information. You should read and consider it carefully before investing.
The Program Administrators, the Program Manager and JPMorgan Distribution Services, Inc., and their respective affiliates do not provide legal or tax advice. This information is provided for general educational purposes only. This is not to be considered legal or tax advice. Investors should consult with their legal or tax advisors for personalized assistance, including information regarding any specific state law requirements.