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Benchmark Definitions For US Mutual Funds, Exchange-Traded Funds, Variable Insurance Funds and Separately Managed Accounts
Benchmark Name |
Benchmark Definition |
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. |
Bloomberg 1-3 Year U.S. Treasury Bond Index |
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. |
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. |
Bloomberg Global Aggregate Bond Index |
Bloomberg Global Aggregate Bond Index provides a broad-based measure of the global investment-grade fixed income markets. |
Bloomberg Municipal 1-15 Year Index |
Bloomberg 1-15 Year Municipal Bond Index is a market capitalization-weighted index that measures the performance of the intermediate-term (1 to 15 years) tax-exempt bond market. |
Bloomberg Municipal Bond Index |
Bloomberg Municipal Bond Index measures the municipal bond market. |
Bloomberg U.S. Aggregate Bond Index |
Bloomberg U.S. Aggregate Bond Index measures the U.S. bond market. |
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. |
Bloomberg U.S. Government/Mortgage Bond Index |
Bloomberg U.S. Government/Mortgage Bond Index measures government and mortgage securities markets. |
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. |
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. |
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. |
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. |
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. |
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. |
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. |
JPMorgan 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). |
JPMorgan 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. |
JPMorgan Global Government Bond Index (Unhedged) |
JPMorgan Global Government Bond Index (Unhedged) - measures developed government bond markets around the world. |
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. |
MSCI All Country World (ex-US) Index |
MSCI All Country World (ex-US) Index measures developed and emerging market stock markets. |
MSCI All Country World (ex-US) Index (net div) |
MSCI All Country World (ex-US) Index (net div) - a market capitalization-weighted index that is designed to measure equity market performance in the developed and emerging markets, excluding the U.S. |
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 Growth Index |
MSCI All Country World Growth Index measures global growth stocks. |
MSCI All Country World Index |
MSCI All Country World Index measures developed and emerging market stock markets. |
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. |
MSCI EAFE (Europe, Australasia, Far East) Value Index (gross div) |
MSCI EAFE (Europe, Australasia, Far East) Value Index measures non-US value 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 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 Emerging Markets Index |
MSCI Emerging Markets Index measures emerging market stocks. |
MSCI World Index |
MSCI World Index measures stock markets in the developed world. |
Russell 1000 Growth Index |
Russell 1000 Growth Index measures large-cap U.S. growth stocks. |
Russell 1000 Index |
Russell 1000 Index measures large-cap U.S. 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 Index |
Russell 2000 Index measures U.S. small-cap stocks. |
Russell 2000 Value Index |
Russell 2000 Value Index measures U.S. small-cap value stocks. |
Russell 3000 Index |
Russell 3000 Index measures the U.S. stock market. |
Russell Midcap Growth Index |
Russell Midcap Growth Index measures U.S. mid-cap growth stocks. |
Russell MidCap Index |
Russell MidCap Index measures U.S. mid-cap stocks. |
Russell Midcap Value Index |
Russell Midcap Value Index measures U.S. mid-cap value stocks. |
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. |
Standard & Poor's North American Technology Sector Index |
Standard & Poor's North American Technology Sector Index measures technology stocks. |
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