Combined Retirement and RMT Plans

COUNTY OF SAN BERNARDINO Combined Retirement and RMT Plans

December 31, 2020 Performance Report

TABLE OF CONTENTS

Section 1 Market Overview

Section 2 Plan ReviewsAll Plans – Combined County of San Bernardino 457 Deferred Compensation Plan County of San Bernardino 401(a) Defined Contribution Plan County of San Bernardino 401(k) Defined Contribution Plan County of San Bernardino PST Deferred Compensation Retirement Plan County of San Bernardino Retirement Medical Trust

Section 3 Fund Performance Section 4 Plan Fee Review

All Plans – Combined County of San Bernardino 457 Deferred Compensation Plan County of San Bernardino 401(a) Defined Contribution Plan County of San Bernardino 401(k) Defined Contribution Plan County of San Bernardino PST Deferred Compensation Retirement Plan County of San Bernardino Retirement Medical Trust

Section 5 Fund Attribution

Section 1

Recent 5-Yr High 5-Yr Low 5-Yr Avg. Date Recent 5-Yr High 5-Yr Low % Off Peak Date-140,000 4,781,000 -20,787,000 1,217 Dec-20 $2.17 $2.88 $1.79 -24.6% Dec-20

6.7% 14.7% 3.5% 5.0% Dec-20 $47.02 $70.98 $16.55 -33.8% Dec-20

16.1 19.9 4.0 10.4 Dec-20 235.5 235.5 183.0 28.7%* Oct-20

$29.81 $30.03 $25.38 $27.27 Dec-20 519.8 523.6 454.6 14.3%* Dec-20Source: Federal Reserve Bank of St. Louis and Bureau of Labor Statistics *% Off Low

Gas: Price per Gallon

Spot Oil

Case-Shiller Home Price Index

Labor Market Statistics (Monthly) Other Prices and Indexes (Monthly)

Key: Economic Series Year-Over-Year Change

Average Hourly Earnings Medical Care CPI

4Q2020 Economic Data

CategoryJobs Added/Lost Monthly

Unemployment Rate

Median Unemployment Length (Weeks)

Category

-12%-9%-6%-3%0%3%6%9%12%

$16,000

$17,000

$18,000

$19,000

$20,000

1Q16 4Q16 3Q17 2Q18 1Q19 4Q19 3Q20

YoY % Change$ Billion Gross Domestic Product

-5

0

5

10

15

-5

0

5

10

15

Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20

YoY Change (%)% Unemployment Rate

-60%

-40%

-20%

0%

20%

40%

60%

$1,200

$1,450

$1,700

$1,950

$2,200

1Q16 4Q16 3Q17 2Q18 1Q19 4Q19 3Q20

YoY % Change$ Billion Corporate Profits

-4%

-2%

0%

2%

4%

6%

8%

210

230

250

270

Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20

YoY % ChangeIndex Consumer Price Index

3

Index QTR YTD 1 yr. 3 yrs. 5 yrs. 10 yrs.90-Day T-Bill 0.02% 0.37% 0.37% 1.48% 1.14% 0.60%BBgBarc US Aggregate 0.67% 7.51% 7.51% 5.34% 4.44% 3.84%BBgBarc Short US Treasury 0.03% 0.95% 0.95% 1.76% 1.32% 0.73%BBgBarc Int. US Treasury -0.23% 5.77% 5.77% 4.12% 2.90% 2.50%BBgBarc Long US Treasury -3.00% 17.70% 17.70% 9.88% 7.85% 7.80%BBgBarc US TIPS 1.62% 10.99% 10.99% 5.92% 5.08% 3.81%BBgBarc US Credit 2.79% 9.35% 9.35% 6.80% 6.44% 5.40%BBgBarc US Mortgage-Backed 0.24% 3.87% 3.87% 3.71% 3.05% 3.01%BBgBarc US Asset-Backed 0.36% 4.52% 4.52% 3.60% 2.87% 2.59%BBgBarc US 20-Yr Municipal 2.64% 6.19% 6.19% 5.47% 4.85% 5.96%BBgBarc US High Yield 6.45% 7.11% 7.11% 6.24% 8.59% 6.80%BBgBarc Global 3.28% 9.20% 9.20% 4.85% 4.79% 2.83%BBgBarc International 5.09% 10.11% 10.11% 4.23% 4.89% 1.99%BBgBarc Emerging Market 4.50% 6.52% 6.52% 5.53% 6.91% 6.01%

4Q2020 Bond Market Data

0.08% 0.09% 0.09% 0.10% 0.13% 0.17%0.36%

0.65%0.93%

1.45%1.65%

1.48% 1.55% 1.60% 1.59% 1.58% 1.62% 1.69%1.83% 1.92%

2.25%2.39%

0.00%

1.00%

2.00%

3.00%

4.00%

1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr 20 yr 30 yr

US Treasury Yield Curve

12/31/2020 12/31/2019

0%

0%

0%

20%

13%

4%

63%

0% 30% 60% 90%

NR

B>

BB

BBB

A

AA

AAA

BBgBarc US Aggregate IndexCredit Quality

20%

16%

11%

10%

4%

5%

31%

2%

0% 20% 40%

1-3 yrs.

3-5 yrs.

5-7 yrs.

7-10 yrs.

10-15 yrs.

15-20 yrs.

20-30 yrs.

30+ yrs

BBgBarc US Aggregate IndexMaturity Breakdown

Duration 6.68 yrs.Average Credit Quality A

Source: Morningstar Source: Morningstar Source: Morningstar Source: Federal Reserve / Bank of America

Source: Department of US Treasury

8.03

1.30

0.55

10.08

1.3

0.52

0.00 5.00 10.00 15.00

CCC

BBB

AAA

US Corporate Credit Spreads1 Yr. Ago Qtr End

1%

1%

0%

22%

29%

1%

46%

0% 50%

Other

CMBS

Non-Agency MBS

Agency MBS

Corporate

Municipal

US Government

BBgBarc US Aggregate IndexSector Breakdown

4

Wgt. Sector QTR YTD 1 yr.2% Energy 27.77% -33.68% -33.68% Index QTR YTD 1 yr. 3 yrs. 5 yrs. 10 yrs.10% Financials 23.22% -1.69% -1.69% S&P 500 12.15% 18.40% 18.40% 14.18% 15.22% 13.88%8% Industrials 15.68% 11.06% 11.06% Russell 1000 Value 16.25% 2.80% 2.80% 6.07% 9.74% 10.50%3% Materials 14.47% 20.73% 20.73% Russell 1000 Growth 11.39% 38.49% 38.49% 22.99% 21.00% 17.21%11% Communication Services 13.82% 23.61% 23.61% Russell Mid Cap 19.91% 17.10% 17.10% 11.61% 13.40% 12.41%

28% Information Technology 11.81% 43.89% 43.89% Russell Mid Cap Value 20.43% 4.96% 4.96% 5.37% 9.73% 10.49%13% Consumer Discretionary 8.04% 33.30% 33.30% Russell Mid Cap Growth 19.02% 35.59% 35.59% 20.50% 18.66% 15.04%13% Health Care 8.03% 13.45% 13.45% Russell 2000 31.37% 19.96% 19.96% 10.25% 13.26% 11.20%3% Utilities 6.54% 0.48% 0.48% Russell 2000 Value 33.36% 4.63% 4.63% 3.72% 9.65% 8.66%7% Consumer Staples 6.35% 10.75% 10.75% Russell 2000 Growth 29.61% 34.63% 34.63% 16.20% 16.36% 13.48%2% Real Estate 4.94% -2.17% -2.17% Russell 3000 14.68% 20.89% 20.89% 14.49% 15.43% 13.79%

Wgt. Sector QTR YTD 1 yr. DJ US Select REIT 12.92% -11.20% -11.20% 1.54% 3.00% 7.56%17% Information Technology 34.90% 36.24% 36.24%15% Financials 32.83% -1.63% -1.63%1% Energy 31.35% -38.32% -38.32%2% Communication Services 25.90% 5.38% 5.38%14% Consumer Discretionary 22.44% 30.99% 30.99%18% Industrials 21.64% 16.49% 16.49%6% Materials 21.19% 10.65% 10.65%9% Real Estate 19.25% -11.94% -11.94%11% Health Care 19.02% 30.27% 30.27%3% Utilities 13.85% -13.87% -13.87%4% Consumer Staples 12.04% 22.23% 22.23%

Wgt. Sector QTR YTD 1 yr.3% Energy 46.52% -39.84% -39.84%6% Materials 46.04% 22.68% 22.68%15% Information Technology 41.72% 27.81% 27.81%16% Financials 33.76% -8.35% -8.35%15% Consumer Discretionary 29.54% 28.74% 28.74%12% Health Care 28.50% 31.54% 31.54%18% Industrials 27.65% 11.97% 11.97%3% Communication Services 23.24% 19.76% 19.76%8% Real Estate 21.99% -9.99% -9.99%4% Consumer Staples 19.24% 11.14% 11.14%2% Utilities 15.50% -10.70% -10.70%

4Q2020 US Equity Market DataS&

P M

idca

p 40

0 In

dex

S&P

Small

cap

600

Inde

x

Sectors Weights/Returns (ranked by quarter performance) Index Performance Data

S&P

500

Inde

x

Annualized

19.2

2%

1.56%

-3.9

3%

-1.9

6%

-2.6

8%

1.56%

-5.9

6%

-6.6

3%

-7.18

%

9.35

%

-40%

-20%

0%

20%

40%

QTR 1 yr. 3 yrs. 5 yrs. 10 yrs. 2020 2019 2018 2017 2016

Small Cap (Russell 2000) - Large Cap (S&P 500)Performance Spread

-4.8

0%

35.3

9%

16.6

1%

10.9

3%

6.57

%

35.3

9%

9.59

%

6.46

%

16.3

9%

-11.0

1%

-40%

-20%

0%

20%

40%

60%

QTR 1 yr. 3 yrs. 5 yrs. 10 yrs. 2020 2019 2018 2017 2016

Growth (Russell 3000 Growth) - Value (Russell 3000 Value)Performance Spread

Small Beating Large

Large Beating Small

Growth Beating Value

Value Beating Growth

5

Index Performance Data (net) Top 10 Countries (MSCI AC World ex-USA)

Index (US$) QTR YTD 1 yr. 3 yrs. 5 yrs. 10 yrs. Japan 16%MSCI ACWI ex-US 17.01% 10.65% 10.65% 4.88% 8.93% 4.92% China 12%MSCI EAFE 16.05% 7.82% 7.82% 4.28% 7.45% 5.51% UK 9%Europe 15.61% 5.38% 5.38% 3.55% 6.78% 5.32% France 7%

United Kingdom 16.94% -10.47% -10.47% -2.38% 2.60% 3.03% Canada 6%Germany 11.48% 11.55% 11.55% 1.59% 6.59% 5.48% Switzerland 6%France 20.36% 4.07% 4.07% 4.51% 9.04% 5.86% Germany 6%

Pacific 16.72% 11.93% 11.93% 5.50% 8.80% 5.95% South Korea 5%Japan 15.26% 14.48% 14.48% 6.06% 8.65% 6.50% Australia 4%Hong Kong 15.46% 5.82% 5.82% 2.48% 8.43% 6.48% Taiwan 4%Australia 22.89% 8.73% 8.73% 5.56% 9.47% 4.47%

Canada 13.92% 5.32% 5.32% 3.60% 9.96% 2.21%MSCI EM 19.70% 18.31% 18.31% 6.17% 12.81% 3.63%MSCI EM Latin America 34.82% -13.80% -13.80% -1.83% 8.93% -3.44%MSCI EM Asia 18.86% 28.38% 28.38% 8.98% 14.43% 6.57%MSCI EM Eur/Mid East 14.33% -7.60% -7.60% 0.45% 7.49% -2.38%MSCI ACWI Value ex-US 20.42% -0.77% -0.77% -0.41% 5.70% 2.78%MSCI ACWI Growth ex-US 13.92% 22.20% 22.20% 10.02% 11.97% 6.94%MSCI ACWI Sm Cap ex-US 18.56% 14.24% 14.24% 4.59% 9.37% 5.95%

Exchange Rates QTR 3Q20 2Q20 1Q20 4Q19 3Q19Japanese Yen 103.19 105.58 107.77 107.53 108.67 108.11Euro 0.82 0.85 0.89 0.91 0.89 0.92British Pound 0.73 0.77 0.81 0.80 0.75 0.81Swiss Franc 0.88 0.92 0.95 0.96 0.97 1.00Chinese Yuan 6.53 6.79 7.07 7.08 6.96 7.15

4Q2020 International Market Data

16.05%

7.82%

4.28%

7.45%

11.35%

0.84%

2.98%

5.80%

0% 10% 20%

QTR

1 yr

3 yrs

5 yrs

MSCI EAFE Index Return

Local US$

19.70%

18.31%

6.17%

12.81%

16.02%

19.12%

8.14%

12.61%

0% 10% 20%

QTR

1 yr

3 yrs

5 yrs

MSCI Emerging Index ReturnLocal US$

1.5%

3.6%

-0.3%

0.4% 1.0%

-2%

0%

2%

4%

6%

QTR 1 yr 3 yrs 5 yrs 10 yrs

MSCI ACWI Ex USLarge v. Small Cap

Performance Spread

-6.5%

23.0%10.4% 6.3% 4.2%

-20%

0%

20%

40%

QTR 1 yr 3 yrs 5 yrs 10 yrs

MSCI ACWI Ex USValue v. Growth

Performance Spread

4%

9%

1% 2%

-1%

2%

5%

3% 3%

-2%

6%

3%

0%

-1% -1%

4%

10%

3% 3%

1%

4%

7%

0% 0%

0%

-10%

0%

10%

QTR 1 Yr 3 Yr 5 Yr 10 Yr

Foreign Currency v. US$ ReturnsEuro Japanese Yen Pound Sterling Swiss Franc Chinese Yuan

Europe38%

Asia33%

Canada7%

Emerging22%

Regional ExposureMSCI ACWI ex-USA

Small Beating Large

Large Beating Small

Growth Beating Value

Value Beating Growth

6

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4Q20Emerging Markets 34.00%

Emerging Markets 32.14%


US Bonds 5.24%


Small Cap 26.85%

Core Real Estate 14.96%


Small Cap 38.82%

Large Cap13.68%

Core Real Estate13.95%

Small Cap21.30%

Emerging Markets37.28%


Large Cap31.49%

Small Cap19.96%

Small Cap 31.37%

Commod. 21.36%

Intl 26.65%

Intl 16.65%

Global Bonds 4.79%

High Yield 58.21%

Mid Cap 25.48%

TIPS 13.56%

Mid Cap 17.28%

Mid Cap 34.76%

Mid Cap13.21%

Large Cap1.38%

High Yield17.12%

Intl27.19%

Cash1.69%

Mid Cap30.54%

Large Cap18.40%

Mid Cap 19.91%


Small Cap 18.37%

Commod. 16.23%

Cash 1.39%

Intl 41.45%


US Bonds 7.84%

Intl 16.83%

Large Cap 32.39%


US Bonds0.55%

Mid Cap13.79%

Large Cap21.83%

US Bonds0.01%

Small Cap25.52%



Intl 16.62%

Large Cap 15.79%

Core Real Estate

14.84%

TIPS -2.35%

Mid Cap 40.48%

Commod. 16.83%

Global Bonds 5.64%

Small Cap 16.35%

Intl 15.29%

US Bonds5.97%

Cash0.03%

Large Cap11.95%

Mid Cap18.52%

Global Bonds-1.20%

Intl21.51%

Mid Cap17.10%

Intl 17.01%

Mid Cap 12.65%


TIPS 11.64%

Core Real Estate

-10.70%

Small Cap 27.17%


High Yield 4.98%

Large Cap 16.00%

Global Balanced 14.46%

Small Cap4.89%

TIPS-1.43%

Commod.11.76

Global Balanced15.87%

TIPS-1.26%



Large Cap 12.15%

Large Cap 4.91%

Mid Cap 15.26%

Global Bonds 9.48%

Global Balanced -24.51%

Large Cap 26.46%

High Yield 15.12%

Large Cap 2.11%

High Yield 15.81%


TIPS3.64%

Global Balanced-1.45%


Small Cap14.65%

High Yield-2.08%


TIPS10.99%

Commod. 10.19%

Small Cap 4.55%


Global Balanced

9.07%

High Yield -26.16%


Large Cap 15.06%

Cash 0.06%


High Yield 7.44%

Global Balanced

3.17%

Mid Cap-2.43%


High Yield7.50%

Large Cap-4.38%

High Yield14.32%

Intl10.65%


Global Balanced

4.16%

High Yield 11.85%

US Bonds 6.97%

Small Cap -33.79%

Commod. 18.91%

Intl 11.15%

Global Balanced -0.97%


Cash 0.07%

High Yield2.45%

Global Bonds-3.15%

Global Balanced

5.38%

Global Bonds7.39%

Global Balanced-5.30%

US Bonds8.72%

Global Bonds9.20%

High Yield 6.45%

Cash 3.25%

Global Bonds 6.64%

Mid Cap 5.60%

Commod.-35.65%

TIPS 11.41%


Mid Cap -1.55%

TIPS 6.98%

US Bonds -2.02%

Global Bonds0.59%

Small Cap-4.41%

TIPS4.68%


Mid Cap-9.06%

TIPS8.43%

US Bonds7.51%

Global Bonds

3.28%

TIPS 2.84%

Cash 4.85%

Large Cap 5.49%

Large Cap -37.00%

Global Bonds 6.93%

US Bonds 6.54%

Small Cap -4.18%

Global Bonds 4.32%

Global Bonds

-2.60%

Cash0.04%

High Yield-4.46%

Intl4.50%

US Bonds3.54%

Small Cap-11.01%

Commod.7.69%

High Yield7.11%

TIPS 1.62%

High Yield 2.74%

US Bonds 4.33%

Cash 4.44%

Mid Cap -41.46%

US Bonds 5.93%

TIPS 6.31%

Commod. -13.32%

US Bonds 4.21%

Emerging Markets -2.60%

Emerging Markets-2.18%

Intl-5.66%

US Bonds2.65%

TIPS3.01%

Commod.-11.25%

Global Bonds6.84%

Cash0.37%


US Bonds 2.43%

Commod. 2.07%

High Yield 1.87%

Intl -45.53%

Cash 0.16%

Global Bonds 5.54%

Intl -13.71%

Cash 0.08%

TIPS -8.61%

Intl-3.86%


Global Bonds2.09%

Commod.1.70%

Intl-14.20%



US Bonds 0.67%

Global Bonds

-4.49%

TIPS 0.41%

Small Cap -1.57%


Core Real Estate

-30.40%

Cash 0.15%


Commod. -1.06%

Commod. -9.52%

Commod.-17.00%

Commod.-24.60%

Cash0.25%

Cash0.71%


Cash2.30%

Commod.-3.12%

Cash 0.02%

Global Balanced is composed of 60% MSCI World Stock Index, 35% BBgBarc Global Aggregate Bond Index, and 5% US 90-Day T-Bills.

Historical Market ReturnsRanked by Performance

7

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8

Section 2

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATIONAll Plans - Combined Fourth Quarter 2020

Fixed Income Ticker Assets % International Ticker Assets %Stabilizer - $310,699,590 22.0% MFS International Diversification R6 MDIZX $66,661,376 4.7%Voya Fixed Account - $81,127,428 5.8% Fidelity Total International Index FTIHX $26,630,406 1.9%Voya Government Money Market A VYAXX $696,574 0.0% Total $93,291,783 6.6%Sterling Capital Total Return Bond R6 STRDX $40,199,624 2.9%Fidelity US Bond Index FXNAX $4,244,604 0.3% Asset Allocation Ticker Assets %Fidelity Intermediate Treasury Bond Index FUAMX $1,753,851 0.1% Conservative Allocation Portfolio - $31,240,456 2.2%

Total $438,721,671 31.1% Moderate Allocation Portfolio - $90,825,297 6.4%Aggressive Allocation Portfolio - $66,462,497 4.7%

Large Cap Ticker Assets % Vanguard Instl Target Retirement Income Instl VITRX $7,973,151 0.6%Fidelity 500 Index FXAIX $143,807,982 10.2% Vanguard Instl Target Retirement 2020 Instl VITWX $31,394,946 2.2%Hartford Core Equity R6 HAITX $134,989,328 9.6% Vanguard Instl Target Retirement 2025 Instl VRIVX $1,722,469 0.1%

Total $278,797,310 19.8% Vanguard Instl Target Retirement 2030 Instl VTTWX $57,873,378 4.1%Vanguard Instl Target Retirement 2035 Instl VITFX $1,346,264 0.1%

Mid Cap Ticker Assets % Vanguard Instl Target Retirement 2040 Instl VIRSX $54,180,233 3.8%Fidelity Mid Cap Index FSMDX $71,774,970 5.1% Vanguard Instl Target Retirement 2045 Instl VITLX $622,175 0.0%Baron Growth Instl BGRIX $54,910,236 3.9% Vanguard Instl Target Retirement 2050 Instl VTRLX $36,467,546 2.6%

Total $126,685,206 9.0% Vanguard Instl Target Retirement 2055 Instl VIVLX $962,790 0.1%Vanguard Instl Target Retirement 2060 Instl VILVX $317,341 0.0%

Small Cap Ticker Assets % Vanguard Instl Target Retirement 2065 Instl VSXFX $292,654 0.0%Hartford Schroders US Small Cap Opps SDR SCURX $7,148,176 0.5% Total $381,681,197 27.1%Fidelity Small Cap Index FSSNX $48,406,056 3.4%

Total $55,554,232 3.9% Miscellaneous Ticker Assets %Self-Directed Brokerage Account - $4,453,024 0.3%Participant Loans - $30,002,008 2.1%

Total $34,455,032 2.4%

TOTAL PLAN ASSETS $1,409,186,430

9


HISTORICAL PLAN ALLOCATIONAsset Class 4Q20 2019 2018 2017 2016 2015 2014 2013

Fixed Income 31.1% 32.1% 36.1% N/A N/A N/A N/A N/ALarge Cap 19.8% 19.5% 18.3% N/A N/A N/A N/A N/A

Mid Cap 9.0% 8.2% 7.2% N/A N/A N/A N/A N/ASmall Cap 3.9% 4.2% 3.9% N/A N/A N/A N/A N/A

International 6.6% 7.3% 7.1% N/A N/A N/A N/A N/AAsset Allocation 27.1% 25.9% 24.2% N/A N/A N/A N/A N/A

SDBA 0.3% 0.2% 0.2% N/A N/A N/A N/A N/ALoans 2.1% 2.6% 2.9% N/A N/A N/A N/A N/A

*Excludes Fixed Income, Asset Allocation, SDBA, and Loan assets

**Excludes Asset Allocation, SDBA, and Loan assets

Fixed Income31.1%

Equity39.3%

Asset Allocation

27.1%

SDBA0.3%

Loans2.1%

90.1%

64.2%

64.2%

9.9%

31.6%

31.4%

4.2%

4.4%

4 Q 2 0

2 0 1 9

2 0 1 8

E Q U I T Y S T Y L E *

Core Growth Value

83.2%

81.4%

80.6%

16.8%

18.6%

19.4%

4 Q 2 0

2 0 1 9

2 0 1 8

B Y E Q U I T Y R E G I O N *

US Non-US

70.1%

70.6%

73.4%

29.9%

29.4%

26.6%

4 Q 2 0

2 0 1 9

2 0 1 8

A C T I V E V P A S S I V E * *

Active Passive

10


PLAN LEVEL CASH FLOWS HISTORICAL PLAN CASH FLOWS

Beginning Value Cash Flow

(+)Cash Flow

(-) TransferMarket

Gain/Loss Ending Value Beginning Value Net Cash Flow Market

Gain/Loss Ending Value

Fixed Income $430,847,275 $11,494,262 ($12,747,344) $6,449,649 $2,677,829 $438,721,671 4Q20 $1,261,324,688 $1,456,266 $116,403,469 $1,379,184,422

Large Cap $253,373,388 $3,429,436 ($4,571,876) ($4,253,341) $30,819,703 $278,797,310 YTD $1,207,835,855 $28,932,003 $142,416,565 $1,379,184,422

Mid Cap $106,122,988 $1,799,963 ($1,837,169) ($705,920) $21,305,345 $126,685,206 2019 $1,007,761,280 $24,519,560 $175,555,015 $1,207,835,855

Small Cap $42,925,194 $982,814 ($1,004,124) ($334,006) $12,984,354 $55,554,232 2018 N/A N/A N/A $1,007,761,280

International $83,286,018 $1,574,376 ($1,828,162) ($1,624,804) $11,884,355 $93,291,783 2017 N/A N/A N/A N/A

Asset Allocation $341,095,465 $11,917,706 ($7,753,615) $268,331 $36,153,310 $381,681,197 2016 N/A N/A N/A N/A

SDBA $3,674,361 $0 $0 $200,091 $578,573 $4,453,024 2015 N/A N/A N/A N/A

Total $1,261,324,688 $31,198,558 ($29,742,291) $0 $116,403,469 $1,379,184,422

Equity Indices: Russell 3000, MSCI ACWI ex USA; Fixed Indices: US Treasury 3 Mo T-Bill, BBgBarc Global

Aggregate Bond (rebalanced quarterly)

9.22

%

11.3

6%

7.57

% 12.11

%

10.13

% 14.4

0%

12.6

9% 16.4

7%

Qtr 1 Year

ReturnsCombined Plans 40 Equity/60 Fixed 60 Equity/40 Fixed 80 Equity/20 Fixed

$19,270

$22

$1,778

$21,071

$0 $15,000 $30,000

Beginning Avg. Balance

Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance

Average Account Balance

11


12

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATION457 Deferred Compensation Plan Fourth Quarter 2020

Fixed Income Ticker Assets % International Ticker Assets %Stabilizer - $219,509,592 22.4% MFS International Diversification R6 MDIZX $57,210,189 5.8%Sterling Capital Total Return Bond R6 STRDX $34,346,235 3.5% Fidelity Total International Index FTIHX $22,316,842 2.3%Fidelity US Bond Index FXNAX $3,679,872 0.4% Total $79,527,030 8.1%Fidelity Intermediate Treasury Bond Index FUAMX $1,140,090 0.1%

Total $258,675,789 26.4% Asset Allocation Ticker Assets %Conservative Allocation Portfolio - $22,189,672 2.3%

Large Cap Ticker Assets % Moderate Allocation Portfolio - $67,881,229 6.9%Fidelity 500 Index FXAIX $115,980,637 11.8% Aggressive Allocation Portfolio - $51,862,460 5.3%Hartford Core Equity R6 HAITX $106,992,588 10.9% Vanguard Instl Target Retirement Income Instl VITRX $5,320,391 0.5%

Total $222,973,225 22.7% Vanguard Instl Target Retirement 2020 Instl VITWX $12,669,995 1.3%Vanguard Instl Target Retirement 2025 Instl VRIVX $1,070,269 0.1%

Mid Cap Ticker Assets % Vanguard Instl Target Retirement 2030 Instl VTTWX $23,093,623 2.4%Fidelity Mid Cap Index FSMDX $57,323,885 5.8% Vanguard Instl Target Retirement 2035 Instl VITFX $620,287 0.1%Baron Growth Instl BGRIX $44,516,108 4.5% Vanguard Instl Target Retirement 2040 Instl VIRSX $28,129,623 2.9%

Total $101,839,993 10.4% Vanguard Instl Target Retirement 2045 Instl VITLX $382,468 0.0%Vanguard Instl Target Retirement 2050 Instl VTRLX $27,657,109 2.8%

Small Cap Ticker Assets % Vanguard Instl Target Retirement 2055 Instl VIVLX $350,861 0.0%Hartford Schroders US Small Cap Opps SDR SCURX $5,737,038 0.6% Vanguard Instl Target Retirement 2060 Instl VILVX $265,954 0.0%Fidelity Small Cap Index FSSNX $39,794,134 4.1% Vanguard Instl Target Retirement 2065 Instl VSXFX $275,735 0.0%

Total $45,531,173 4.6% Total $241,769,676 24.6%

Miscellaneous Ticker Assets %Self-Directed Brokerage Account - $3,305,834 0.3%Participant Loans - $27,968,719 2.8%

Total $31,274,553 3.2%

TOTAL PLAN ASSETS $981,591,440

13









Fixed Income26.4%

Equity45.8%

Asset Allocation

24.6%

SDBA0.3%

Loans2.8%

90.1%

64.6%

64.6%

9.9%

31.3%

31.0%

4.1%

4.4%

4 Q 2 0

2 0 1 9

2 0 1 8


Core Growth Value

82.3%

80.6%

79.8%

17.7%

19.4%

20.2%

4 Q 2 0

2 0 1 9

2 0 1 8


US Non-US

66.1%

66.2%

69.1%

33.9%

33.8%

30.9%

4 Q 2 0

2 0 1 9

2 0 1 8


Active Passive

14




(+)Cash Flow

(-) TransferMarket



Fixed Income $249,476,707 $3,467,830 ($3,977,758) $7,931,803 $1,777,207 $258,675,789 4Q20 $861,938,349 $3,794,733 $87,889,639 $953,622,721

Large Cap $203,227,020 $2,760,993 ($3,549,163) ($4,173,588) $24,707,963 $222,973,225 YTD $834,788,633 $12,696,826 $106,137,261 $953,622,721

Mid Cap $85,531,482 $1,448,881 ($1,539,032) ($731,944) $17,130,607 $101,839,993 2019 $691,312,582 $10,850,129 $132,625,923 $834,788,633

Small Cap $35,097,148 $790,620 ($789,589) ($207,886) $10,640,880 $45,531,173 2018 N/A N/A N/A $691,312,582

International $71,005,544 $1,305,993 ($1,559,982) ($1,352,980) $10,128,455 $79,527,030 2017 N/A N/A N/A N/A

Asset Allocation $214,876,118 $9,840,170 ($4,404,231) ($1,659,936) $23,117,555 $241,769,676 2016 N/A N/A N/A N/A

SDBA $2,724,332 $0 $0 $194,531 $386,972 $3,305,834 2015 N/A N/A N/A N/A

Total $861,938,349 $19,614,487 ($15,819,754) $0 $87,889,639 $953,622,721



10.17

%

12.4

6%

7.57

% 12.11

%

10.13

% 14.4

0%

12.6

9% 16.4

7%

Qtr 1 Year

Returns457 Deferred Compensation 40 Equity/60 Fixed 60 Equity/40 Fixed 80 Equity/20 Fixed

$36,579

$161

$3,730

$40,469

$0 $15,000 $30,000 $45,000


Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance


15


16

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATION401(a) Defined Contribution Plan Fourth Quarter 2020

Fixed Income Ticker Assets % International Ticker Assets %Stabilizer - $2,048,496 6.4% MFS International Diversification R6 MDIZX $155,556 0.5%Sterling Capital Total Return Bond R6 STRDX $260,378 0.8% Fidelity Total International Index FTIHX $207,248 0.6%Fidelity US Bond Index FXNAX $3,896 0.0% Total $362,804 1.1%

Fidelity Intermediate Treasury Bond Index FUAMX $23,628 0.1%Total $2,336,399 7.3% Asset Allocation Ticker Assets %

Conservative Allocation Portfolio - $740,335 2.3%

Large Cap Ticker Assets % Moderate Allocation Portfolio - $1,211,085 3.8%Fidelity 500 Index FXAIX $998,886 3.1% Aggressive Allocation Portfolio - $1,085,037 3.4%Hartford Core Equity R6 HAITX $673,891 2.1% Vanguard Instl Target Retirement Income Instl VITRX $761,126 2.4%

Total $1,672,777 5.2% Vanguard Instl Target Retirement 2020 Instl VITWX $4,251,075 13.2%Vanguard Instl Target Retirement 2025 Instl VRIVX $131,865 0.4%

Mid Cap Ticker Assets % Vanguard Instl Target Retirement 2030 Instl VTTWX $7,762,616 24.2%Fidelity Mid Cap Index FSMDX $533,593 1.7% Vanguard Instl Target Retirement 2035 Instl VITFX $179,822 0.6%Baron Growth Instl BGRIX $441,607 1.4% Vanguard Instl Target Retirement 2040 Instl VIRSX $7,024,789 21.9%

Total $975,200 3.0% Vanguard Instl Target Retirement 2045 Instl VITLX $191,947 0.6%Vanguard Instl Target Retirement 2050 Instl VTRLX $2,772,968 8.6%

Small Cap Ticker Assets % Vanguard Instl Target Retirement 2055 Instl VIVLX $153,332 0.5%Hartford Schroders US Small Cap Opps SDR SCURX $116,803 0.4% Vanguard Instl Target Retirement 2060 Instl VILVX $50,479 0.2%Fidelity Small Cap Index FSSNX $300,862 0.9% Vanguard Instl Target Retirement 2065 Instl VSXFX $7,136 0.0%

Total $417,665 1.3% Total $26,323,610 82.0%


17






*Excludes Fixed Income and Asset Allocation assets

**Excludes Asset Allocation assets

Fixed Income7.3%

Equity10.7%

Asset Allocation

82.0%

87.1%

64.2%

65.2%

12.9%

28.9%

26.1%

6.9%

8.6%

4 Q 2 0

2 0 1 9

2 0 1 8


Core Growth Value

89.4%

86.3%

81.4%

10.6%

13.7%

18.6%

4 Q 2 0

2 0 1 9

2 0 1 8


US Non-US

64.1%

64.2%

69.0%

35.9%

35.8%

31.0%

4 Q 2 0

2 0 1 9

2 0 1 8


Active Passive

18




(+)Cash Flow

(-) TransferMarket



Fixed Income $2,181,278 $58,726 ($35,330) $116,785 $14,940 $2,336,399 4Q20 $28,155,641 $904,509 $3,028,304 $32,088,454

Large Cap $1,471,250 $58,926 ($20,371) ($17,646) $180,619 $1,672,777 YTD $24,643,848 $3,622,525 $3,822,081 $32,088,454

Mid Cap $803,879 $31,521 ($9,946) ($14,834) $164,580 $975,200 2019 $18,802,415 $1,890,811 $3,950,623 $24,643,848

Small Cap $301,407 $16,855 ($4,441) $11,984 $91,859 $417,665 2018 N/A N/A N/A $18,802,415

International $314,564 $11,713 ($7,206) ($4,271) $48,004 $362,804 2017 N/A N/A N/A N/A

Asset Allocation $23,083,265 $1,002,226 ($198,164) ($92,019) $2,528,302 $26,323,610 2016 N/A N/A N/A N/A

Total $28,155,641 $1,179,966 ($275,458) $0 $3,028,304 $32,088,454



10.5

9% 13.0

7%

7.57

% 12.11

%

10.13

% 14.4

0%

12.6

9% 16.4

7%

Qtr 1 Year

Returns401(a) Defined Contribution 40 Equity/60 Fixed 60 Equity/40 Fixed 80 Equity/20 Fixed

$1,789

$57

$192

$2,039

$0 $1,500 $3,000


Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance


19


20

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATION401(k) Defined Contribution Plan Fourth Quarter 2020

Fixed Income Ticker Assets % International Ticker Assets %Stabilizer - $48,585,585 25.9% MFS International Diversification R6 MDIZX $8,593,455 4.6%Sterling Capital Total Return Bond R6 STRDX $4,813,520 2.6% Fidelity Total International Index FTIHX $3,745,404 2.0%Fidelity US Bond Index FXNAX $519,350 0.3% Total $12,338,859 6.6%Fidelity Intermediate Treasury Bond Index FUAMX $524,531 0.3%

Total $54,442,985 29.0% Asset Allocation Ticker Assets %Conservative Allocation Portfolio - $6,803,451 3.6%

Large Cap Ticker Assets % Moderate Allocation Portfolio - $16,870,626 9.0%Fidelity 500 Index FXAIX $23,980,216 12.8% Aggressive Allocation Portfolio - $7,683,384 4.1%Hartford Core Equity R6 HAITX $23,927,475 12.7% Vanguard Instl Target Retirement Income Instl VITRX $465,031 0.2%

Total $47,907,691 25.5% Vanguard Instl Target Retirement 2020 Instl VITWX $1,845,248 1.0%Vanguard Instl Target Retirement 2025 Instl VRIVX $304,684 0.2%

Mid Cap Ticker Assets % Vanguard Instl Target Retirement 2030 Instl VTTWX $2,855,410 1.5%Fidelity Mid Cap Index FSMDX $11,384,735 6.1% Vanguard Instl Target Retirement 2035 Instl VITFX $497,171 0.3%Baron Growth Instl BGRIX $7,922,306 4.2% Vanguard Instl Target Retirement 2040 Instl VIRSX $2,639,753 1.4%

Total $19,307,041 10.3% Vanguard Instl Target Retirement 2045 Instl VITLX $45,992 0.0%Vanguard Instl Target Retirement 2050 Instl VTRLX $1,759,130 0.9%

Small Cap Ticker Assets % Vanguard Instl Target Retirement 2055 Instl VIVLX $437,372 0.2%Hartford Schroders US Small Cap Opps SDR SCURX $1,052,573 0.6% Vanguard Instl Target Retirement 2060 Instl VILVX $0 0.0%Fidelity Small Cap Index FSSNX $7,224,667 3.8% Vanguard Instl Target Retirement 2065 Instl VSXFX $5,182 0.0%

Total $8,277,240 4.4% Total $42,212,435 22.5%

Miscellaneous Ticker Assets %Self-Directed Brokerage Account - $1,147,190 0.6%Participant Loans - $2,033,289 1.1%

Total $3,180,479 1.7%


21









Fixed Income29.0%

Equity46.8%

Asset Allocation

22.5%

SDBA0.6%

Loans1.1%

91.0%

63.2%

62.9%

9.0%

32.5%

33.0%

4.2%

4.1%

4 Q 2 0

2 0 1 9

2 0 1 8


Core Growth Value

86.0%

84.1%

83.8%

14.0%

15.9%

16.2%

4 Q 2 0

2 0 1 9

2 0 1 8


US Non-US

66.7%

66.7%

69.4%

33.3%

33.3%

30.6%

4 Q 2 0

2 0 1 9

2 0 1 8


Active Passive

22




(+)Cash Flow

(-) TransferMarket



Fixed Income $53,161,630 $573,332 ($1,347,738) $1,712,777 $342,984 $54,442,985 4Q20 $169,212,791 $74,659 $16,345,992 $185,633,441

Large Cap $43,153,072 $609,518 ($777,983) ($334,759) $5,257,842 $47,907,691 YTD $163,277,656 $2,858,713 $19,497,072 $185,633,441

Mid Cap $16,035,394 $318,946 ($172,626) ($125,181) $3,250,508 $19,307,041 2019 $136,406,428 $1,816,408 $25,054,820 $163,277,656

Small Cap $6,522,777 $175,340 ($177,936) ($196,472) $1,953,530 $8,277,240 2018 N/A N/A N/A $136,406,428

International $11,035,539 $256,670 ($228,718) ($299,811) $1,575,179 $12,338,859 2017 N/A N/A N/A N/A

Asset Allocation $38,354,348 $1,075,311 ($229,457) ($762,115) $3,774,348 $42,212,435 2016 N/A N/A N/A N/A

SDBA $950,029 $0 $0 $5,560 $191,601 $1,147,190 2015 N/A N/A N/A N/A

Total $169,212,791 $3,009,116 ($2,934,457) $0 $16,345,992 $185,633,441



9.66

%

11.6

0%

7.57

% 12.11

%

10.13

% 14.4

0%

12.6

9% 16.4

7%

Qtr 1 Year

Returns401(k) Defined Contribution 40 Equity/60 Fixed 60 Equity/40 Fixed 80 Equity/20 Fixed

$150,679

$66

$14,556

$165,301

$0 $100,000 $200,000


Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance


23


24

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATIONPST Deferred Compensation Retirement Plan Fourth Quarter 2020

HISTORICAL PLAN CASH FLOWSFixed Income Ticker Assets % Beginning Value Net Cash Flow Market Gain/Loss Ending Value

Stabilizer - $40,555,917 100.0% 4Q20 $40,157,573 $176,936 $221,408 $40,555,917Total $40,555,917 100.0% YTD $37,906,246 $1,699,237 $950,434 $40,555,917

2019 $36,665,327 $292,121 $948,798 $37,906,246

2018 N/A N/A N/A $36,665,327

2017 N/A N/A N/A N/A

2016 N/A N/A N/A N/A


$5,174

$23

$29

$5,225

$0 $2,500 $5,000 $7,500


Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance

Average Account BalanceFixed Income

100.0%

25


26

COUNTY OF SAN BERNARDINO PLAN ASSET ALLOCATIONRetirement Medical Trust Fourth Quarter 2020

Fixed Income Ticker Assets % International Ticker Assets %Voya Fixed Account - $81,127,428 48.5% MFS International Diversification R6 MDIZX $702,177 0.4%Voya Government Money Market A VYAXX $696,574 0.4% Fidelity Total International Index FTIHX $360,913 0.2%Sterling Capital Total Return Bond R6 STRDX $779,491 0.5% Total $1,063,090 0.6%Fidelity US Bond Index FXNAX $41,486 0.0%Fidelity Intermediate Treasury Bond Index FUAMX $65,601 0.0% Asset Allocation Ticker Assets %

Total $82,710,581 49.4% Conservative Allocation Portfolio - $1,506,998 0.9%Moderate Allocation Portfolio - $4,862,357 2.9%

Large Cap Ticker Assets % Aggressive Allocation Portfolio - $5,831,616 3.5%Fidelity 500 Index FXAIX $2,848,243 1.7% Vanguard Instl Target Retirement Income Instl VITRX $1,426,602 0.9%Hartford Core Equity R6 HAITX $3,395,374 2.0% Vanguard Instl Target Retirement 2020 Instl VITWX $12,628,629 7.5%

Total $6,243,617 3.7% Vanguard Instl Target Retirement 2025 Instl VRIVX $215,651 0.1%Vanguard Instl Target Retirement 2030 Instl VTTWX $24,161,728 14.4%

Mid Cap Ticker Assets % Vanguard Instl Target Retirement 2035 Instl VITFX $48,983 0.0%Fidelity Mid Cap Index FSMDX $2,532,757 1.5% Vanguard Instl Target Retirement 2040 Instl VIRSX $16,386,069 9.8%Baron Growth Instl BGRIX $2,030,215 1.2% Vanguard Instl Target Retirement 2045 Instl VITLX $1,768 0.0%

Total $4,562,972 2.7% Vanguard Instl Target Retirement 2050 Instl VTRLX $4,278,339 2.6%Vanguard Instl Target Retirement 2055 Instl VIVLX $21,225 0.0%

Small Cap Ticker Assets % Vanguard Instl Target Retirement 2060 Instl VILVX $907 0.0%Hartford Schroders US Small Cap Opps SDR SCURX $241,762 0.1% Vanguard Instl Target Retirement 2065 Instl VSXFX $4,602 0.0%Fidelity Small Cap Index FSSNX $1,086,393 0.6% Total $71,375,475 42.7%

Total $1,328,155 0.8%TOTAL PLAN ASSETS $167,283,890

27






*Excludes Fixed Income and Asset Allocation assets

**Excludes Asset Allocation assets

Fixed Income49.4%

Equity7.9%

Asset Allocation

42.7%

84.6%

56.3%

58.6%

15.4%

37.6%

35.7%

6.1%

5.7%

4 Q 2 0

2 0 1 9

2 0 1 8


Core Growth Value

91.9%

90.8%

90.6%

8.1%

9.2%

9.4%

4 Q 2 0

2 0 1 9

2 0 1 8


US Non-US

92.8%

93.9%

94.9%

7.2%

6.1%

5.1%

4 Q 2 0

2 0 1 9

2 0 1 8


Active Passive

28




(+)Cash Flow

(-) TransferMarket



Fixed Income $85,870,088 $5,892,713 ($6,061,793) ($3,311,717) $321,291 $82,710,581 4Q20 $161,860,333 ($3,494,570) $8,918,127 $167,283,890

Large Cap $5,522,045 $0 ($224,360) $272,652 $673,280 $6,243,617 YTD $147,219,470 $8,054,702 $12,009,718 $167,283,890

Mid Cap $3,752,233 $615 ($115,566) $166,039 $759,650 $4,562,972 2019 $124,574,529 $9,670,091 $12,974,851 $147,219,470

Small Cap $1,003,862 $0 ($32,159) $58,367 $298,085 $1,328,155 2018 N/A N/A N/A $124,574,529

International $930,371 $0 ($32,256) $32,258 $132,717 $1,063,090 2017 N/A N/A N/A N/A

Asset Allocation $64,781,734 $0 ($2,921,764) $2,782,400 $6,733,105 $71,375,475 2016 N/A N/A N/A N/A

Total $161,860,333 $5,893,328 ($9,387,898) $0 $8,918,127 $167,283,890



5.57

%

7.39

%

7.57

% 12.11

%

10.13

% 14.4

0%

12.6

9% 16.4

7%

Qtr 1 Year

ReturnsRMT Plan 40 Equity/60 Fixed 60 Equity/40 Fixed 80 Equity/20 Fixed

$9,375

($202)

$517

$9,689

($5,000) $5,000 $15,000


Avg. Net Cash Flow

Avg. Mkt. Gain/Loss

Ending Avg. Balance


29


30

Section 3

COUNTY OF SAN BERNARDINO INVESTMENT POLICY STATEMENT COMPLIANCE REPORTAll Plans - Combined Fourth Quarter 2020

Key: ℗ Pass / ● Fail Performance

FactorsQualitative

FactorsOn-Watch

Date Initiated NotesStabilizer ℗ ℗ -

Voya Fixed Account ℗ ℗ -Voya Government Money Market A ℗ ℗ -

Sterling Capital Total Return Bond R6 ℗ ℗ -Fidelity US Bond Index ℗ ℗ -

Fidelity Intermediate Treasury Bond Index ℗ ℗ -

Fidelity 500 Index ℗ ℗ -Hartford Core Equity R6 ℗ ℗ -

Fidelity Mid Cap Index ℗ ℗ -Baron Growth Instl ℗ ℗ -

Hartford Schroders US Small Cap Opps SDR ℗ ℗ -Fidelity Small Cap Index ℗ ℗ -

MFS International Diversification R6 ℗ ℗ -Fidelity Total International Index ℗ ℗ -

Conservative Allocation Portfolio ℗ ℗ -Moderate Allocation Portfolio ℗ ℗ -

Aggressive Allocation Portfolio ℗ ℗ -Vanguard Instl Target Retirement Income Instl ℗ ℗ -

Vanguard Instl Target Retirement 2020 Instl ℗ ℗ -Vanguard Instl Target Retirement 2025 Instl ℗ ℗ -Vanguard Instl Target Retirement 2030 Instl ℗ ℗ -Vanguard Instl Target Retirement 2035 Instl ℗ ℗ -

Proposed Investment Policy Status

31

COUNTY OF SAN BERNARDINO INVESTMENT POLICY STATEMENT COMPLIANCE REPORTAll Plans - Combined Fourth Quarter 2020

Key: ℗ Pass / ● Fail Performance

FactorsQualitative

FactorsOn-Watch

Date Initiated Notes

Proposed Investment Policy Status

Vanguard Instl Target Retirement 2040 Instl ℗ ℗ -Vanguard Instl Target Retirement 2045 Instl ℗ ℗ -Vanguard Instl Target Retirement 2050 Instl ℗ ℗ -Vanguard Instl Target Retirement 2055 Instl ℗ ℗ -Vanguard Instl Target Retirement 2060 Instl ℗ ℗ -Vanguard Instl Target Retirement 2065 Instl ℗ ℗ -

32

COUNTY OF SAN BERNARDINO PERFORMANCE REVIEWAll Plans - Combined Fourth Quarter 2020

AnnualizedQTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014

Stabilizer 0.55 2.42 2.42 2.50 2.47 2.40 2.59 2.50 N/A N/A N/A N/A5 Yr Constant Maturity US Treasury Yield 0.09 0.54 0.54 1.74 1.72 1.52 1.96 2.75 1.91 1.44 1.53 1.64

+/- Index 0.46 1.88 1.88 0.76 0.75 0.88 0.63 (0.25) - - - -US Stable Value 8 4 4 5 4 9 8 8 N/A N/A N/A N/A

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Voya Fixed Account 0.42 1.75 1.75 1.97 2.09 2.40 1.85 1.90 N/A N/A N/A N/A

5 Yr Constant Maturity US Treasury Yield 0.09 0.54 0.54 1.74 1.72 1.52 1.96 2.75 1.91 1.44 1.53 1.64+/- Index 0.33 1.21 1.21 0.23 0.37 0.88 (0.11) (0.85) - - - -

US Stable Value 49 63 63 51 20 9 83 43 N/A N/A N/A N/A

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Voya Government Money Market A 0.00 0.27 0.27 1.22 0.80 0.41 1.88 1.51 0.26 0.08 0.02 0.01

US 90 Day T-Bill 0.02 0.36 0.36 1.45 1.12 0.59 2.06 1.94 0.93 0.32 0.05 0.03+/- Index (0.02) (0.09) (0.09) (0.23) (0.32) (0.18) (0.18) (0.43) (0.67) (0.24) (0.03) (0.02)

US Money Market - Taxable 27 53 53 45 50 47 45 44 77 41 24 46

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Sterling Capital Total Return Bond R6 1.67 9.35 9.35 6.05 5.24 4.44 9.37 -0.27 4.33 3.75 0.54 5.99

BBgBarc Capital US Aggregate Bond Index 0.67 7.51 7.51 5.34 4.44 3.84 8.72 0.01 3.54 2.65 0.55 5.97+/- Index 1.00 1.84 1.84 0.71 0.81 0.60 0.65 (0.28) 0.79 1.10 (0.01) 0.02

US Fund Intermediate Core Bond 8 10 10 10 6 10 17 42 7 7 28 26

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Fidelity US Bond Index 0.75 7.80 7.80 5.36 4.41 3.82 8.48 0.01 3.50 2.52 0.63 5.99

BBgBarc Capital US Aggregate Bond Index 0.67 7.51 7.51 5.34 4.44 3.84 8.72 0.01 3.54 2.65 0.55 5.97+/- Index 0.08 0.29 0.29 0.02 (0.02) (0.02) (0.23) 0.00 (0.04) (0.13) 0.08 0.02

US Fund Intermediate Core Bond 60 41 41 36 42 45 49 29 57 66 18 26

33



Fidelity Intermediate Treasury Bond Index -0.81 9.10 9.10 5.81 4.10 3.95 7.25 1.23 2.20 0.97 1.67 6.41BBgBarc US Treasury 5-10 Year Index -0.80 9.09 9.09 5.87 4.17 4.05 7.48 1.22 2.17 1.18 1.84 6.42

+/- Index 0.00 0.01 0.01 (0.07) (0.08) (0.10) (0.23) 0.01 0.03 (0.21) (0.17) (0.01)US Fund Intermediate Government 91 4 4 1 1 3 1 9 N/A N/A N/A N/A

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Fidelity 500 Index 12.14 18.40 18.40 14.17 15.21 13.87 31.47 -4.40 21.81 11.97 1.38 13.66

S&P 500 Index 12.15 18.40 18.40 14.18 15.22 13.88 31.49 -4.38 21.83 11.96 1.38 13.69+/- Index (0.01) 0.00 0.00 (0.01) (0.01) (0.01) (0.01) (0.02) (0.02) 0.01 0.00 (0.03)

US Fund Large Blend 53 36 36 23 19 11 23 25 28 26 20 18

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Hartford Core Equity R6 12.49 18.49 18.49 16.03 15.07 14.97 33.89 -1.55 22.17 5.75 6.90 15.89

S&P 500 Index 12.15 18.40 18.40 14.18 15.22 13.88 31.49 -4.38 21.83 11.96 1.38 13.69+/- Index 0.34 0.09 0.09 1.85 (0.14) 1.09 2.40 2.83 0.34 (6.21) 5.52 2.20

US Fund Large Blend 45 34 34 5 23 1 6 5 26 93 1 2

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Fidelity Mid Cap Index 19.89 17.11 17.11 11.60 13.40 - 30.51 -9.05 18.47 13.86 -2.44 13.11

Russell Mid Cap Index 19.91 17.10 17.10 11.61 13.40 12.41 30.54 -9.06 18.52 13.80 -2.44 13.22+/- Index (0.02) 0.01 0.01 0.00 0.00 - (0.03) 0.01 (0.05) 0.07 0.00 (0.10)

US Fund Mid-Cap Blend 60 22 22 20 17 - 18 29 24 59 27 7

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Baron Growth Instl 21.10 33.05 33.05 22.08 19.76 15.06 40.50 -2.67 27.35 6.31 -4.06 4.66

Russell Mid Cap Growth Index 19.02 35.59 35.59 20.50 18.66 15.04 35.47 -4.75 25.27 7.33 -0.20 11.90+/- Index 2.08 (2.53) (2.53) 1.59 1.10 0.01 5.03 2.08 2.09 (1.02) (3.86) (7.24)

US Fund Mid-Cap Growth 38 53 53 32 26 26 6 22 25 44 79 73

34



Hartford Schroders US Small Cap Opps SDR 26.06 8.14 8.14 8.43 11.83 10.47 32.06 -10.72 14.81 19.49 -1.37 8.50Russell 2000 Index 31.37 19.96 19.96 10.25 13.26 11.20 25.52 -11.01 14.65 21.31 -4.41 4.89

+/- Index (5.32) (11.82) (11.82) (1.81) (1.43) (0.73) 6.53 0.29 0.16 (1.82) 3.04 3.60US Fund Small Blend 72 68 68 28 30 36 4 32 81 63 15 13

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Fidelity Small Cap Index 31.28 19.99 19.99 10.36 13.43 - 25.71 -10.88 14.85 21.63 -4.24 5.19

Russell 2000 Index 31.37 19.96 19.96 10.25 13.26 11.20 25.52 -11.01 14.65 21.31 -4.41 4.89+/- Index (0.09) 0.03 0.03 0.12 0.17 - 0.18 0.14 0.20 0.32 0.17 0.30

US Fund Small Blend 22 14 14 13 8 - 30 33 22 40 44 40

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014MFS International Diversification R6 13.65 15.43 15.43 9.04 11.59 7.70 26.09 -10.92 30.25 2.47 0.11 -3.86

MSCI ACWI Ex-USA (Net) Index 17.01 10.65 10.65 4.88 8.93 4.92 21.51 -14.20 27.19 4.50 -5.66 -3.87+/- Index (3.37) 4.78 4.78 4.16 2.66 2.78 4.58 3.27 3.05 (2.03) 5.77 0.00

US Fund Foreign Large Blend 80 14 14 3 2 3 10 15 6 29 31 26

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Fidelity Total International Index 16.81 11.07 11.07 4.93 - - 21.48 -14.38 27.63 - - -

MSCI ACWI Ex-USA IMI (Net) Index 17.22 11.12 11.12 4.83 8.98 5.06 21.63 -14.76 27.81 4.41 -4.60 -3.89+/- Index (0.41) (0.04) (0.04) 0.09 - - (0.16) 0.37 (0.18) - - -

US Fund Foreign Large Blend 33 32 32 37 - - 53 49 22 - - -

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Conservative Allocation Portfolio 5.17 8.17 8.17 5.75 6.53 5.93 9.55 -0.82 N/A N/A N/A N/A

Dow Jones Conservative Index 4.02 8.05 8.05 5.11 4.81 3.92 8.13 -0.62 5.73 3.01 -0.63 3.86+/- Index 1.15 0.12 0.12 0.64 1.72 2.01 1.42 (0.20) - - - -

US Fund Conservative Allocation 82 60 60 59 64 63 93 1 N/A N/A N/A N/A

35



Moderate Allocation Portfolio 9.93 10.28 10.28 7.20 8.78 8.02 18.64 -6.01 N/A N/A N/A N/ADow Jones Moderate Index 11.11 12.24 12.24 8.06 9.36 7.59 18.60 -5.21 15.15 7.67 -1.21 5.35

+/- Index (1.18) (1.96) (1.96) (0.86) (0.58) 0.43 0.04 (0.80) - - - -US Fund Moderate Allocation 48 54 54 46 43 41 44 50 N/A N/A N/A N/A

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Aggressive Allocation Portfolio 12.99 12.42 12.42 8.46 10.56 8.64 23.80 -8.33 N/A N/A N/A N/A

Dow Jones Aggressive Index 17.92 15.99 15.99 10.12 12.79 10.31 27.13 -9.45 23.20 10.98 -2.56 6.59+/- Index (4.93) (3.57) (3.57) (1.66) (2.23) (1.67) (3.33) 1.12 - - - -

US Fund Aggressive Allocation 50 66 66 52 45 52 39 50 N/A N/A N/A N/A

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Vanguard Instl Target Retirement Income Instl 5.19 10.18 10.18 6.93 6.92 5.91 13.20 -1.98 8.54 5.29 -0.13 5.58

Vanguard Retirement Income Index 5.23 10.70 10.70 7.16 7.10 6.09 13.40 -1.98 8.67 5.35 0.12 5.76+/- Index (0.04) (0.52) (0.52) (0.23) (0.18) (0.18) (0.20) 0.00 (0.13) (0.06) (0.25) (0.18)

US Fund Target-Date Retirement 58 24 24 18 26 13 46 10 58 38 11 15

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Vanguard Instl Target Retirement 2020 Instl 7.88 12.09 12.09 8.11 9.07 7.97 17.69 -4.21 14.13 7.04 -0.63 7.16

Vanguard Retirement 2020 Index 7.93 12.86 12.86 8.44 9.31 8.22 17.87 -4.14 14.22 7.17 -0.40 7.37+/- Index (0.05) (0.77) (0.77) (0.33) (0.24) (0.25) (0.18) (0.07) (0.09) (0.13) (0.23) (0.21)

US Fund Target-Date 2020 47 36 36 18 18 11 22 41 13 27 27 1



US Fund Target-Date 2025 40 32 32 18 16 12 17 38 22 23 30 5Longer term Institutional share class performance for Vanguard Target Date funds may represent Investor share class performance adjusted for the difference in expense ratios.

36



Vanguard Instl Target Retirement 2030 Instl 10.54 14.10 14.10 9.19 10.57 9.09 21.14 -5.82 17.57 7.97 -0.97 7.23Vanguard Retirement 2030 Index 10.62 14.96 14.96 9.55 10.83 9.34 21.33 -5.74 17.65 8.11 -0.80 7.51

+/- Index (0.08) (0.86) (0.86) (0.36) (0.26) (0.25) (0.19) (0.08) (0.08) (0.14) (0.17) (0.28)US Fund Target-Date 2030 44 35 35 22 25 15 28 32 32 29 36 9












US Fund Target-Date 2050 59 35 35 27 24 19 36 30 30 28 51 19Longer term Institutional share class performance for Vanguard Target Date funds may represent Investor share class performance adjusted for the difference in expense ratios.

37



Vanguard Instl Target Retirement 2055 Instl 14.02 16.36 16.36 10.28 12.16 10.16 25.06 -7.84 21.47 8.94 -1.66 7.25Vanguard Retirement 2055 Index 14.19 17.18 17.18 10.65 12.44 10.43 25.36 -7.77 21.54 9.13 -1.25 7.61

+/- Index (0.17) (0.82) (0.82) (0.37) (0.28) (0.27) (0.30) (0.07) (0.07) (0.19) (0.41) (0.36)US Fund Target-Date 2055 66 39 39 28 26 24 39 30 40 28 53 17

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Vanguard Instl Target Retirement 2060 Instl 14.02 16.40 16.40 10.30 12.16 - 25.13 -7.88 21.42 8.94 -1.61 7.23

Vanguard Retirement 2060 Index 14.19 17.18 17.18 10.65 12.44 - 25.36 -7.77 21.54 9.13 -1.25 7.61+/- Index (0.17) (0.78) (0.78) (0.35) (0.28) - (0.23) (0.11) (0.12) (0.19) (0.36) (0.38)

US Fund Target-Date 2060+ 71 41 41 30 35 - 47 29 43 21 77 10

QTR YTD 1Yr 3Yr 5Yr 10Yr 2019 2018 2017 2016 2015 2014Vanguard Instl Target Retirement 2065 Instl 14.01 16.18 16.18 10.25 - - 25.15 -7.84 - - - -

Vanguard Retirement 2065 Index 14.19 17.18 17.18 10.65 - - 25.36 -7.77 - - - -+/- Index (0.18) (0.99) (0.99) (0.40) - - (0.21) (0.07) - - - -

US Fund Target-Date 2060+ 71 42 42 38 - - 52 30 - - - -

Longer term Institutional share class performance for Vanguard Target Date funds may represent Investor share class performance adjusted for the difference in expense ratios.

38

Section 4

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISAll Plans - Combined Fourth Quarter 2020

*Beginning July 1, 2020 revenue received is 0.132% annually on all assets excluding SDBA. Contracted revenue is 0.095% annually on all assets excluding SDBA.

$61

$61

$61

$61

$62

$52

$52

$52

$56

$38

$38

$38

$31

$32

$27

$28

$26

$28

$21,2

18

$21,1

21

$21,3

73

$21,5

08

$22,

056

$18,

442

$19,

180

$19,

503

$21,0

71

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$10,000

$20,000

$30,000

Average Participant Balance and Cost ($)Avg. Invest Cost Avg. Admin Cost Avg. Part Balance

0.46

9%

0.46

9%

0.46

5%

0.42

8%

0.42

4%

0.42

8%

0.41

6%

0.40

5%

0.39

9%0.48

6%

0.48

5%

0.48

3%

0.40

3%

0.40

2%

0.39

6%

0.37

1%

0.35

9%

0.35

6%

0.00%

0.25%

0.50%

0.75%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20

Annualized Plan Cost (%)Weighted Total Expense Ratio Average Total Expense Ratio

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20

Annualized Contracted Revenue v. Revenue Received* (as a % of total assets)

Revenue Received Contracted Revenue

0.29

0%

0.28

9%

0.28

6%

0.28

4%

0.28

0%

0.28

3%

0.27

1%

0.27

0%

0.26

7%

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.00%

0.20%

0.40%

0.60%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20

Annualized Investment Cost Summary(as a % of total assets)

Avg. Admin Cost per Participant Avg. Investment Cost per Participant

39

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISAll Plans - Combined Fourth Quarter 2020

Fund Ticker Quarter End Assets Net Expense Ratio Admin FeeEst. Total Invest.

CostEst. Total Admin.

CostStabilizer - $310,699,590 0.34% 0.132% $1,056,379 $409,298Voya Fixed Account** - $81,127,428 0.41% 0.132% $332,622 $106,873Voya Government Money Market A VYAXX $696,574 0.41% 0.132% $2,856 $918Sterling Capital Total Return Bond R6 STRDX $40,199,624 0.35% 0.132% $140,699 $52,957Fidelity US Bond Index FXNAX $4,244,604 0.03% 0.132% $1,061 $5,592Fidelity Intermediate Treasury Bond Index FUAMX $1,753,851 0.03% 0.132% $526 $2,310Fidelity 500 Index FXAIX $143,807,982 0.02% 0.132% $21,571 $189,445Hartford Core Equity R6 HAITX $134,989,328 0.39% 0.132% $526,458 $177,827Fidelity Mid Cap Index FSMDX $71,774,970 0.03% 0.132% $17,944 $94,552Baron Growth Instl* BGRIX $54,910,236 0.89% 0.132% $488,701 $72,336Hartford Schroders US Small Cap Opps SDR SCURX $7,148,176 1.03% 0.132% $73,626 $9,417Fidelity Small Cap Index FSSNX $48,406,056 0.03% 0.132% $12,102 $63,767MFS International Diversification R6 MDIZX $66,661,376 0.75% 0.132% $499,960 $87,816Fidelity Total International Index FTIHX $26,630,406 0.06% 0.132% $15,978 $35,081Conservative Allocation Portfolio - $31,240,456 0.25% 0.132% $78,101 $41,154Moderate Allocation Portfolio* - $90,825,297 0.17% 0.132% $154,403 $119,648Aggressive Allocation Portfolio* - $66,462,497 0.11% 0.132% $73,109 $87,554Vanguard Instl Target Retirement Income Instl VITRX $7,973,151 0.09% 0.132% $7,176 $10,503Vanguard Instl Target Retirement 2020 Instl VITWX $31,394,946 0.09% 0.132% $28,255 $41,358Vanguard Instl Target Retirement 2025 Instl VRIVX $1,722,469 0.09% 0.132% $1,550 $2,269Vanguard Instl Target Retirement 2030 Instl VTTWX $57,873,378 0.09% 0.132% $52,086 $76,239Vanguard Instl Target Retirement 2035 Instl VITFX $1,346,264 0.09% 0.132% $1,212 $1,773Vanguard Instl Target Retirement 2040 Instl VIRSX $54,180,233 0.09% 0.132% $48,762 $71,374Vanguard Instl Target Retirement 2045 Instl VITLX $622,175 0.09% 0.132% $560 $820Vanguard Instl Target Retirement 2050 Instl VTRLX $36,467,546 0.09% 0.132% $32,821 $48,040Vanguard Instl Target Retirement 2055 Instl VIVLX $962,790 0.09% 0.132% $867 $1,268Vanguard Instl Target Retirement 2060 Instl VILVX $317,341 0.09% 0.132% $286 $418Vanguard Instl Target Retirement 2065 Instl VSXFX $292,654 0.09% 0.132% $263 $386Self-Directed Brokerage Account - $4,453,024 - 0.000% - $0

TOTAL $1,379,184,422 $3,669,934 $1,810,995Plan Administration Cost Quarter Annualized

Contracted Revenue to Voya (9.5 bps excluding SDBA - est): $326,499 $1,305,995Additional Administrative Allowance ($505,000): $126,250 $505,000

Total Plan Administration Cost (13.2 bps excluding SDBA - est): $452,749 $1,810,995

Annualized

*Revenue derived from funds credited to participant accounts in which they are held. For fee reporting purposes, the credit has been used to offset the reported fund expense ratio.**No explicit expense ratio given for Voya Fixed Account. An expense ratio of 0.41% is assumed for reporting purposes.

40

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS457 Deferred Compensation Plan Fourth Quarter 2020

*Revenue received is 0.131% annually on all assets excluding SDBA. Contracted revenue is 0.095% annually on all assets excluding SDBA.

$122

$121

$125

$124

$124

$97

$97

$102

$108

$77

$77

$80

$64

$66

$50

$52

$51

$53

$42,

962

$42,

637

$44,

564

$44,

556

$45,

493

$34,

879

$35,

959

$37,

994

$40,

469

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$20,000

$40,000

$60,000


0.46

4%

0.46

4%

0.46

0%

0.42

3%

0.41

9%

0.42

2%

0.41

4%

0.40

4%

0.39

9%0.47

7%

0.47

6%

0.47

3%

0.39

2%

0.39

1%

0.39

3%

0.35

7%

0.34

4%

0.34

1%

0.00%

0.25%

0.50%

0.75%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20


0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

1%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



0.28

5%

0.28

4%

0.28

1%

0.27

8%

0.27

4%

0.27

8%

0.26

9%

0.26

9%

0.26

8%

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

1%

0.00%

0.20%

0.40%

0.60%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



41

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS457 Deferred Compensation Plan Fourth Quarter 2020



CostStabilizer - $219,509,592 0.34% 0.131% $746,333 $288,466Sterling Capital Total Return Bond R6 STRDX $34,346,235 0.35% 0.131% $120,212 $45,136Fidelity US Bond Index FXNAX $3,679,872 0.03% 0.131% $920 $4,836Fidelity Intermediate Treasury Bond Index FUAMX $1,140,090 0.03% 0.131% $342 $1,498Fidelity 500 Index FXAIX $115,980,637 0.02% 0.131% $17,397 $152,415Hartford Core Equity R6 HAITX $106,992,588 0.39% 0.131% $417,271 $140,603Fidelity Mid Cap Index FSMDX $57,323,885 0.03% 0.131% $14,331 $75,332Baron Growth Instl* BGRIX $44,516,108 0.89% 0.131% $396,193 $58,500Hartford Schroders US Small Cap Opps SDR SCURX $5,737,038 1.03% 0.131% $59,091 $7,539Fidelity Small Cap Index FSSNX $39,794,134 0.03% 0.131% $9,949 $52,295MFS International Diversification R6 MDIZX $57,210,189 0.75% 0.131% $429,076 $75,182Fidelity Total International Index FTIHX $22,316,842 0.06% 0.131% $13,390 $29,327Conservative Allocation Portfolio - $22,189,672 0.25% 0.131% $55,474 $29,160Moderate Allocation Portfolio* - $67,881,229 0.17% 0.131% $115,398 $89,205Aggressive Allocation Portfolio* - $51,862,460 0.11% 0.131% $57,049 $68,154Vanguard Instl Target Retirement Income Instl VITRX $5,320,391 0.09% 0.131% $4,788 $6,992Vanguard Instl Target Retirement 2020 Instl VITWX $12,669,995 0.09% 0.131% $11,403 $16,650Vanguard Instl Target Retirement 2025 Instl VRIVX $1,070,269 0.09% 0.131% $963 $1,406Vanguard Instl Target Retirement 2030 Instl VTTWX $23,093,623 0.09% 0.131% $20,784 $30,348Vanguard Instl Target Retirement 2035 Instl VITFX $620,287 0.09% 0.131% $558 $815Vanguard Instl Target Retirement 2040 Instl VIRSX $28,129,623 0.09% 0.131% $25,317 $36,966Vanguard Instl Target Retirement 2045 Instl VITLX $382,468 0.09% 0.131% $344 $503Vanguard Instl Target Retirement 2050 Instl VTRLX $27,657,109 0.09% 0.131% $24,891 $36,345Vanguard Instl Target Retirement 2055 Instl VIVLX $350,861 0.09% 0.131% $316 $461Vanguard Instl Target Retirement 2060 Instl VILVX $265,954 0.09% 0.131% $239 $350Vanguard Instl Target Retirement 2065 Instl VSXFX $275,735 0.09% 0.131% $248 $362Self-Directed Brokerage Account - $3,305,834 - 0.000% - $0

TOTAL $953,622,721 $2,542,279 $1,248,848

Plan Administration Cost Quarter AnnualizedPlan Generated Revenue (est): $312,212 $1,248,848

Contracted Revenue (est): $225,700 $902,801Net Excess/(Deficit) (est): $86,512 $346,047

Annualized

*Revenue derived from funds credited to participant accounts in which they are held. For fee reporting purposes, the credit has been used to offset the reported fund expense ratio.

42

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS401(a) Defined Contribution Plan Fourth Quarter 2020


$3 $3 $3 $3 $3 $2 $2 $2 $3

$4 $4 $4 $3 $3

$2 $3 $2 $3

$1,9

50

$1,9

65

$2,0

97

$2,16

9

$2,2

60

$1,6

31

$1,7

75

$1,8

18 $2,0

39

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$1,000

$2,000

$3,000


0.32

7%

0.32

5%

0.32

2%

0.28

7%

0.28

7%

0.28

9%

0.28

3%

0.27

1%

0.26

7%

0.47

7%

0.47

6%

0.47

3%

0.39

2%

0.39

2%

0.39

4%

0.35

7%

0.34

5%

0.34

1%

0.00%

0.20%

0.40%

0.60%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20

Annualized Plan Cost (%)

Weighted Total Expense Ratio Average Total Expense Ratio

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



0.14

7%

0.14

5%

0.14

2%

0.14

2%

0.14

2%

0.14

4%

0.13

8%

0.13

6%

0.13

5%

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.00%

0.20%

0.40%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



43

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS401(a) Defined Contribution Plan Fourth Quarter 2020



CostStabilizer - $2,048,496 0.34% 0.132% $6,965 $2,696Sterling Capital Total Return Bond R6 STRDX $260,378 0.35% 0.132% $911 $343Fidelity US Bond Index FXNAX $3,896 0.03% 0.132% $1 $5Fidelity Intermediate Treasury Bond Index FUAMX $23,628 0.03% 0.132% $7 $31Fidelity 500 Index FXAIX $998,886 0.02% 0.132% $150 $1,315Hartford Core Equity R6 HAITX $673,891 0.39% 0.132% $2,628 $887Fidelity Mid Cap Index FSMDX $533,593 0.03% 0.132% $133 $702Baron Growth Instl* BGRIX $441,607 0.89% 0.132% $3,930 $581Hartford Schroders US Small Cap Opps SDR SCURX $116,803 1.03% 0.132% $1,203 $154Fidelity Small Cap Index FSSNX $300,862 0.03% 0.132% $75 $396MFS International Diversification R6 MDIZX $155,556 0.75% 0.132% $1,167 $205Fidelity Total International Index FTIHX $207,248 0.06% 0.132% $124 $273Conservative Allocation Portfolio - $740,335 0.25% 0.132% $1,851 $974Moderate Allocation Portfolio* - $1,211,085 0.17% 0.132% $2,059 $1,594Aggressive Allocation Portfolio* - $1,085,037 0.11% 0.132% $1,194 $1,428Vanguard Instl Target Retirement Income Instl VITRX $761,126 0.09% 0.132% $685 $1,002Vanguard Instl Target Retirement 2020 Instl VITWX $4,251,075 0.09% 0.132% $3,826 $5,595Vanguard Instl Target Retirement 2025 Instl VRIVX $131,865 0.09% 0.132% $119 $174Vanguard Instl Target Retirement 2030 Instl VTTWX $7,762,616 0.09% 0.132% $6,986 $10,217Vanguard Instl Target Retirement 2035 Instl VITFX $179,822 0.09% 0.132% $162 $237Vanguard Instl Target Retirement 2040 Instl VIRSX $7,024,789 0.09% 0.132% $6,322 $9,246Vanguard Instl Target Retirement 2045 Instl VITLX $191,947 0.09% 0.132% $173 $253Vanguard Instl Target Retirement 2050 Instl VTRLX $2,772,968 0.09% 0.132% $2,496 $3,650Vanguard Instl Target Retirement 2055 Instl VIVLX $153,332 0.09% 0.132% $138 $202Vanguard Instl Target Retirement 2060 Instl VILVX $50,479 0.09% 0.132% $45 $66Vanguard Instl Target Retirement 2065 Instl VSXFX $7,136 0.09% 0.132% $6 $9

TOTAL $32,088,454 $43,357 $42,233

Plan Administration Cost Quarter AnnualizedPlan Generated Revenue (est): $10,558 $42,233


Annualized


44

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS401(k) Defined Contribution Plan Fourth Quarter 2020


$395

$390

$401

$399

$408

$395

$388

$404

$442

$242

$240

$250

$201

$209

$200

$207

$201 $2

16

$135

,092

$133

,696

$139

,415

$139

,285

$144

,466

$138

,421

$143

,524

$150

,278

$165

,301

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$50,000

$100,000

$150,000

$200,000


0.47

2%

0.47

2%

0.46

8%

0.43

2%

0.42

8%

0.43

1%

0.41

6%

0.40

5%

0.40

0%0.47

7%

0.47

6%

0.47

3%

0.39

2%

0.39

1%

0.39

3%

0.35

7%

0.34

4%

0.34

1%

0.00%

0.25%

0.50%

0.75%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20


0.17

9%

0.17

9%

0.17

9%

0.14

5%

0.14

5%

0.14

4%

0.14

4%

0.13

5%

0.13

1%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

4%

0.09

4%

0.09

4%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



0.29

3%

0.29

3%

0.28

9%

0.28

7%

0.28

3%

0.28

6%

0.27

2%

0.27

0%

0.26

9%

0.17

9%

0.17

9%

0.17

9%

0.14

5%

0.14

5%

0.14

4%

0.14

4%

0.13

5%

0.13

1%

0.00%

0.20%

0.40%

0.60%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



45

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSIS401(k) Defined Contribution Plan Fourth Quarter 2020



CostStabilizer - $48,585,585 0.34% 0.131% $165,191 $63,772Sterling Capital Total Return Bond R6 STRDX $4,813,520 0.35% 0.131% $16,847 $6,318Fidelity US Bond Index FXNAX $519,350 0.03% 0.131% $130 $682Fidelity Intermediate Treasury Bond Index FUAMX $524,531 0.03% 0.131% $157 $688Fidelity 500 Index FXAIX $23,980,216 0.02% 0.131% $3,597 $31,476Hartford Core Equity R6 HAITX $23,927,475 0.39% 0.131% $93,317 $31,406Fidelity Mid Cap Index FSMDX $11,384,735 0.03% 0.131% $2,846 $14,943Baron Growth Instl* BGRIX $7,922,306 0.89% 0.131% $70,509 $10,399Hartford Schroders US Small Cap Opps SDR SCURX $1,052,573 1.03% 0.131% $10,841 $1,382Fidelity Small Cap Index FSSNX $7,224,667 0.03% 0.131% $1,806 $9,483MFS International Diversification R6 MDIZX $8,593,455 0.75% 0.131% $64,451 $11,279Fidelity Total International Index FTIHX $3,745,404 0.06% 0.131% $2,247 $4,916Conservative Allocation Portfolio - $6,803,451 0.25% 0.131% $17,009 $8,930Moderate Allocation Portfolio* - $16,870,626 0.17% 0.131% $28,680 $22,144Aggressive Allocation Portfolio* - $7,683,384 0.11% 0.131% $8,452 $10,085Vanguard Instl Target Retirement Income Instl VITRX $465,031 0.09% 0.131% $419 $610Vanguard Instl Target Retirement 2020 Instl VITWX $1,845,248 0.09% 0.131% $1,661 $2,422Vanguard Instl Target Retirement 2025 Instl VRIVX $304,684 0.09% 0.131% $274 $400Vanguard Instl Target Retirement 2030 Instl VTTWX $2,855,410 0.09% 0.131% $2,570 $3,748Vanguard Instl Target Retirement 2035 Instl VITFX $497,171 0.09% 0.131% $447 $653Vanguard Instl Target Retirement 2040 Instl VIRSX $2,639,753 0.09% 0.131% $2,376 $3,465Vanguard Instl Target Retirement 2045 Instl VITLX $45,992 0.09% 0.131% $41 $60Vanguard Instl Target Retirement 2050 Instl VTRLX $1,759,130 0.09% 0.131% $1,583 $2,309Vanguard Instl Target Retirement 2055 Instl VIVLX $437,372 0.09% 0.131% $394 $574Vanguard Instl Target Retirement 2060 Instl VILVX $0 0.09% 0.131% $0 $0Vanguard Instl Target Retirement 2065 Instl VSXFX $5,182 0.09% 0.131% $5 $7Self-Directed Brokerage Account - $1,147,190 - 0.000% - $0

TOTAL $185,633,441 $495,850 $242,150



Annualized


46

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISPST Deferred Compensation Retirement Plan Fourth Quarter 2020


$26

$26

$26

$25

$25

$25

$20

$18

$18

$11

$11

$10

$8 $8 $8

$8 $7 $7

$5,9

12

$5,9

13

$5,8

29

$5,7

24

$5,7

33

$5,7

58

$5,8

52

$5,3

92

$5,2

25

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$4,000

$8,000


0.62

0%

0.62

0%

0.62

0%

0.58

5%

0.58

5%

0.58

5%

0.48

5%

0.47

5%

0.47

2%0.62

0%

0.62

0%

0.62

0%

0.58

5%

0.58

5%

0.58

5%

0.48

5%

0.47

5%

0.47

2%

0.00%

0.30%

0.60%

0.90%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20


0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



0.44

0%

0.44

0%

0.44

0%

0.44

0%

0.44

0%

0.44

0%

0.34

0%

0.34

0%

0.34

0%

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.00%

0.25%

0.50%

0.75%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



47

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISPST Deferred Compensation Retirement Plan Fourth Quarter 2020



CostStabilizer - $40,555,917 0.34% 0.132% $137,890 $53,378

TOTAL $40,555,917 $137,890 $53,378



Annualized

48

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISRetirement Medical Trust Fourth Quarter 2020


$24

$24

$23

$23

$24

$24

$25

$26

$26

$15

$15

$14

$12

$12

$12 $13

$13

$13

$8,2

10

$8,3

21

$7,8

54

$8,0

49

$8,3

34

$8,3

13

$8,9

19

$9,3

75

$9,6

89

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20$0

$4,000

$8,000

$12,000


0.47

2%

0.47

1%

0.47

3%

0.43

6%

0.43

2%

0.43

4%

0.42

9%

0.41

4%

0.40

1%0.48

0%

0.47

9%

0.47

7%

0.39

7%

0.39

6%

0.39

8%

0.35

9%

0.34

7%

0.35

1%

0.00%

0.25%

0.50%

0.75%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20


0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.12

0%

0.12

0%

0.12

0%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.09

5%

0.00%

0.10%

0.20%

0.30%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



0.29

2%

0.29

1%

0.29

3%

0.29

1%

0.28

7%

0.28

9%

0.28

4%

0.27

9%

0.26

9%

0.18

0%

0.18

0%

0.18

0%

0.14

5%

0.14

5%

0.14

5%

0.14

5%

0.13

5%

0.13

2%

0.00%

0.20%

0.40%

0.60%

4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20



49

COUNTY OF SAN BERNARDINO PLAN FEE ANALYSISRetirement Medical Trust Fourth Quarter 2020



CostVoya Fixed Account** - $81,127,428 0.41% 0.132% $332,622 $106,777Voya Government Money Market A VYAXX $696,574 0.41% 0.132% $2,856 $917Sterling Capital Total Return Bond R6 STRDX $779,491 0.35% 0.132% $2,728 $1,026Fidelity US Bond Index FXNAX $41,486 0.03% 0.132% $10 $55Fidelity Intermediate Treasury Bond Index FUAMX $65,601 0.03% 0.132% $20 $86Fidelity 500 Index FXAIX $2,848,243 0.02% 0.132% $427 $3,749Hartford Core Equity R6 HAITX $3,395,374 0.39% 0.132% $13,242 $4,469Fidelity Mid Cap Index FSMDX $2,532,757 0.03% 0.132% $633 $3,334Baron Growth Instl* BGRIX $2,030,215 0.89% 0.132% $18,069 $2,672Hartford Schroders US Small Cap Opps SDR SCURX $241,762 1.03% 0.132% $2,490 $318Fidelity Small Cap Index FSSNX $1,086,393 0.03% 0.132% $272 $1,430MFS International Diversification R6 MDIZX $702,177 0.75% 0.132% $5,266 $924Fidelity Total International Index FTIHX $360,913 0.06% 0.132% $217 $475Conservative Allocation Portfolio - $1,506,998 0.25% 0.132% $3,767 $1,983Moderate Allocation Portfolio* - $4,862,357 0.17% 0.132% $8,266 $6,400Aggressive Allocation Portfolio* - $5,831,616 0.11% 0.132% $6,415 $7,675Vanguard Instl Target Retirement Income Instl VITRX $1,426,602 0.09% 0.132% $1,284 $1,878Vanguard Instl Target Retirement 2020 Instl VITWX $12,628,629 0.09% 0.132% $11,366 $16,621Vanguard Instl Target Retirement 2025 Instl VRIVX $215,651 0.09% 0.132% $194 $284Vanguard Instl Target Retirement 2030 Instl VTTWX $24,161,728 0.09% 0.132% $21,746 $31,801Vanguard Instl Target Retirement 2035 Instl VITFX $48,983 0.09% 0.132% $44 $64Vanguard Instl Target Retirement 2040 Instl VIRSX $16,386,069 0.09% 0.132% $14,747 $21,567Vanguard Instl Target Retirement 2045 Instl VITLX $1,768 0.09% 0.132% $2 $2Vanguard Instl Target Retirement 2050 Instl VTRLX $4,278,339 0.09% 0.132% $3,851 $5,631Vanguard Instl Target Retirement 2055 Instl VIVLX $21,225 0.09% 0.132% $19 $28Vanguard Instl Target Retirement 2060 Instl VILVX $907 0.09% 0.132% $1 $1Vanguard Instl Target Retirement 2065 Instl VSXFX $4,602 0.09% 0.132% $4 $6

TOTAL $167,283,890 $450,558 $220,172



Annualized

*Revenue derived from funds credited to participant accounts in which they are held. For fee reporting purposes, the credit has been used to offset the reported fund expense ratio.**No explicit expense ratio given for the Voya Fixed Account. An expense ratio of 0.41% is assumed for reporting purposes.

50

Section 5

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$��'�� !.��]��q��r��C��b��>%��#�3./.��!$�4!��!��!��@��!$��,�$��!'��!"��!��,#�%��'��!��-�'#��'��'��#��!'��$��#�� !�� !'� ��"��.��s�!��+��#�� %�%�� !'� ��&��(��#��!"��!��!$��#�� "�$��#��&�� !��!"��!��!.��4!��!��!��'-��$��'��$$��!��-��#��'��!'��!$� ��'��!'��!��.��2#��-��%��$��!��#�� !��-�'#��'��'��#��!$��!&��%��!$��$��'��%�$��%�"�.��

51

Baron Growth Instl Fund Fact Sheet

BGRIX Data as of 12/31/2020

Product Details Trailing Performance

Name

Ticker

Expense Ratio

Morningstar Category

Benchmark

Inception Date

Longest Tenured Manager

Longest Manager Tenure

Fund Size

Annual Performance

Fund Characteristics

% Assets in Top 10 Holdings

Average Market Cap (mil)

P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations BGRIX +/- Category

Materials 0.0% -2.1%

Communication Services 4.0% -1.7% Asset Allocation Morningstar Style Box

Consumer Discretionary 22.6% 8.5% Value Core Growth

Consumer Staples 0.0% -3.1%

Healthcare 13.8% -7.7%

Industrials 2.8% -9.8%

Real Estate 12.2% 8.8%

Technology 15.7% -13.5%

Energy 0.0% -0.5%

Financial Services 28.9% 21.6% 0.0% 97.6%

Utilities 0.0% -0.5% 0.0% 2.0%

Other 0.0% 0.0% 0.0% 0.1%

0.5%

7.2%

0.5%

0.0%

54.73%

$13,352

39.00

5.31

0.65% 0.21%

-0.89

0.48

-$6,766

29.65%

12.6%

3.4%

29.2%

14.2%

26.17 Years

Category

2.1%

5.7%

3.1%

21.6%

+/- CategoryBGRIX

Sm

all

Lar

ge

Mid

Baron Growth Instl

Ronald Baron

$8,443,333,991

5/29/2009

1.040%

BGRIX

US Fund Mid-Cap Growth

Russell Mid Cap Growth TR USD

21.1%

33.1% 33.1%

22.1% 19.8%15.1%

19.0%

35.6% 35.6%

20.5% 18.7%15.0%

QTR YTD 1 Year 3 Year 5 Year 10 Year

BGRIX Benchmark

33.1%40.5%

-2.7%

27.4%

6.3%

-4.1%

35.6% 35.5%

-4.8%

25.3%

7.3%

-0.2%

2020 2019 2018 2017 2016 2015

BGRIX Benchmark

52

Baron Growth Instl Fund Fact Sheet

BGRIX Data as of 12/31/2020

Trailing Performance QTR YTD 1 Year 3 Year 5 Year 10 Year

21.10% 33.05% 33.05% 22.08% 19.76% 15.06% 4Q20 3Q20 2Q20 1Q20

19.02% 35.59% 35.59% 20.50% 18.66% 15.04% 21.10% 10.95% 27.46% -22.30%

+/- Benchmark 2.08% -2.53% -2.53% 1.59% 1.10% 0.01% 19.02% 9.37% 30.26% -20.04%

Peer Group Rank 32 61 61 37 30 30 +/- Benchmark 2.08% 1.57% -2.81% -2.26%

Annual Performance 2020 2019 2018 2017 2016 2015

33.05% 40.50% -2.67% 27.35% 6.31% -4.06% 4Q19 3Q19 2Q19 1Q19

35.59% 35.47% -4.75% 25.27% 7.33% -0.20% 8.65% -0.69% 7.03% 21.67%

+/- Benchmark -2.53% 5.03% 2.08% 2.09% -1.02% -3.86% 8.17% -0.67% 5.40% 19.62%

Peer Group Rank 61 8 27 31 42 86 +/- Benchmark 0.48% -0.02% 1.62% 2.05%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -

Rolling 5-Year Performance 12/2020 09/2020 06/2020 03/2020 12/2019 09/2019 4Q18 3Q18 2Q18 1Q18

19.76% 15.58% 11.17% 5.67% 12.18% 11.89% -18.53% 7.94% 8.01% 2.47%

18.66% 15.53% 11.60% 5.61% 11.60% 11.12% -15.99% 7.57% 3.16% 2.17%

+/- Benchmark 1.10% 0.06% -0.43% 0.06% 0.57% 0.78% +/- Benchmark -2.54% 0.36% 4.85% 0.30%

Peer Group Rank 30 36 38 38 32 26

Risk Statistics 4Q17 3Q17 2Q17 1Q17

Manager Benchmark Manager Benchmark Manager Benchmark 5.35% 3.23% 6.06% 10.41%

Alpha 0.49 0.00 0.30 0.00 0.20 0.00 6.81% 5.28% 4.21% 6.89%

Beta 1.07 1.00 1.06 1.00 1.00 1.00 +/- Benchmark -1.45% -2.05% 1.85% 3.51%

Standard Deviation 23.98 21.75 19.64 17.90 16.65 15.92

Sharpe Ratio 0.89 0.90 0.96 0.98 0.89 0.93

Information Ratio 0.28 - 0.21 - 0.00 - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 19.18 18.98 17.59 17.49 14.49 14.43 -0.08% 2.59% 3.38% 0.31%

Upside Capture Ratio 109.78 100.00 106.59 100.00 99.67 100.00 0.46% 4.59% 1.56% 0.58%

Downside Capture Ratio 111.62 100.00 107.58 100.00 99.28 100.00 +/- Benchmark -0.53% -2.00% 1.82% -0.27%

All data and information on this fact sheet is taken from sources believed to be accurate but is not guaranteed to be accurate, complete, or correct.

3 Year 5 Year 10 Year

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

53

Baron G

rowth Instl (U

SD)

Morningstar A

nalyst RatingTM

„08-20-2020

Overall M

orningstar RatingTM

Standard IndexCategory Index

Morningstar Cat

QQQ

S&P 500 TR USD

Russell Mid Cap

Growth TR USD

US Fund Mid-Cap

Growth

564 US Fund Mid-Cap Grow

th

Performance 12-31-2020

Quarterly Returns1st Qtr

2nd Qtr3rd Qtr

4th QtrTotal %

20182.47

8.017.94

-18.53-2.67

201921.67

7.03-0.69

8.6540.50

2020-22.30

27.4610.95

21.1033.05

Trailing Returns1 Yr

3 Yr5 Yr

10 YrIncept

Load-adj Mthly

33.0522.08

19.7615.06

17.05Std 12-31-2020

33.05—

19.7615.06

17.05Total Return

33.0522.08

19.7615.06

17.05

+/- Std Index14.66

7.904.54

1.17—

+/- Cat Index-2.53

1.591.10

0.01—

% Rank Cat

5232

2626

No. in Cat

604564

504383

SubsidizedUnsubsidized

7-day Yield—

—30-day SEC Yield

——

Performance Disclosure

The Overall Morningstar Rating is based on risk-adjusted returns,

derived from a w

eighted average of the three-, five-, and 10-year(if applicable) M

orningstar metrics.

The performance data quoted represents past perform

ance anddoes not guarantee future results. The investm

ent return andprincipal value of an investm

ent will fluctuate; thus an investor's

shares, when sold or redeem

ed, may be w

orth more or less than

their original cost.Current perform

ance may be low

er or higher than return dataquoted herein. For perform

ance data current to the most recent

month-end, please call 800-992-2766 or visit

ww

w.baronfunds.com

.

Fees and ExpensesSales Charges

Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %1.00

12b1 Expense %0.00

Net Expense Ratio %

1.04G

ross Expense Ratio %1.04

Risk and Return Profile3 Yr

5 Yr10 Yr

564 funds504 funds

383 funds

Morningstar Rating

TM3Q

4Q3Q

Morningstar Risk

+Avg+Avg

AvgM

orningstar Return+Avg

+Avg+Avg

3 Yr5 Yr

10 Yr

Standard Deviation23.99

19.6416.65

Mean

22.0819.76

15.06Sharpe Ratio

0.890.96

0.89

MPT Statistics

Standard IndexBest Fit Index

Morningstar US M

idCap TR USD

Alpha5.36

8.08Beta

1.191.06

R-Squared87.15

93.33

12-Month Yield

—Potential Cap Gains Exp

79.51%

88

88

88

88

88

88

9596

9997

9596

9899

10099

100100

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Baron Growth Instl

67,944Category Average60,241Standard Index53,403

__

&&

&(

)*

&&

&(

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

41.3751.43

51.3554.06

73.1273.24

64.3160.82

69.5563.17

85.69108.85

NAV/Price

34.4424.32

1.5116.74

38.694.66

-4.066.31

27.35-2.67

40.5033.05

Total Return %

7.979.25

-0.600.74

6.30-9.03

-5.44-5.65

5.521.72

9.0214.66

+/- Standard Index

-11.85-2.07

3.160.94

2.94-7.24

-3.86-1.02

2.092.08

5.03-2.53

+/- Category Index

——

1624

1973

7944

2522

652

% Rank Cat

——

751737

703749

733644

617605

618604

No. of Funds in Cat

Portfolio Analysis 12-31-2020

Asset A

llocation %N

et %Long %

Short %

Cash0.00

0.000.00

US Stocks97.60

97.600.00

Non-US Stocks

2.012.01

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.39

0.390.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall

Portfolio StatisticsPortAvg

RelIndex

RelCat

P/E Ratio TTM39.0

1.381.01

P/C Ratio TTM28.2

1.711.11

P/B Ratio TTM5.3

1.330.86

Geo Avg Mkt Cap

$mil

133520.08

0.66

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—

Regional ExposureStocks %

Rel Std Index

Americas

98.00.99

Greater Europe2.0

2.32Greater Asia

0.00.00

Share Chgsince09-2020

ShareAm

ountHoldings :50 Total Stocks , 0 Total Fixed-Incom

e,2%

Turnover Ratio

Net Assets%

Y2 m

ilM

SCI Inc8.91

Y617,500

CoStar Group Inc6.57

Y2 m

ilVail Resorts Inc

6.426 m

ilPenn N

ational Gaming Inc

6.22

Y1 m

ilAnsys Inc

5.59

Y852,500

IDEXX Laboratories Inc4.91

Y1 m

ilFactSet Research System

s Inc4.59

Y9 m

ilIridium

Comm

unications Inc4.00

Y9 m

ilArch Capital Group Ltd

3.833 m

ilChoice Hotels International Inc

3.69

850,000Bio-Techne Corp

3.112 m

ilGartner Inc A

2.951 m

ilM

orningstar Inc2.93

Y1 m

ilBright Horizons Fam

ily Solutions I2.73

Y2 m

ilPrim

erica Inc2.70

Sector Weightings

Stocks %Rel Std Index

hCyclical

63.72.08

rBasic M

aterials0.0

0.00t

Consumer Cyclical

22.61.81

yFinancial Services

28.92.14

uReal Estate

12.25.04

jSensitive

22.50.49

iCom

munication Services

4.00.37

oEnergy

0.00.00

pIndustrials

2.80.32

aTechnology

15.70.65

kD

efensive13.8

0.59

sConsum

er Defensive0.0

0.00d

Healthcare13.8

1.02f

Utilities0.0

0.00

Operations

Family:

Baron Capital GroupM

anager:M

ultipleTenure:

26.1 YearsObjective:

Growth

Base Currency:USD

Ticker:BGRIX

ISIN:

US0682787041M

inimum

Initial Purchase:$1 m

il

Purchase Constraints:A

Incept:05-29-2009

Type:M

FTotal Assets:

$8,661.69 mil

Release date 12-31-2020 | Note: Portions of the analysis are based on pre-inception returns. Please read disclosure for m

ore information.

©2021 M

orningstar. All Rights Reserved. Unless otherwise provided in a separate agreem

ent, you may use this report only in the country in w

hich its original distributor is based. The information, data, analyses and

opinions contained herein (1) include the confidential and proprietary information of M

orningstar, (2) may include, or be derived from

, account information provided by your financial professional w

hich cannot be verified byM

orningstar, (3) may not be copied or redistributed, (4) do not constitute investm

ent advice offered by Morningstar, (5) are provided solely for inform

ational purposes and therefore are not an offer to buy or sell a security,and (6) are not w

arranted to be correct, complete or accurate. Except as otherw

ise required by law, M

orningstar shall not be responsible for any trading decisions, damages or other losses resulting from

, or related to, thisinform

ation, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change w

ithout notice. Investment research is produced and issued by subsidiaries of M

orningstar, Inc.including, but not lim

ited to, Morningstar Research Services LLC, registered w

ith and governed by the U.S. Securities and Exchange Comm

ission. This report is supplemental sales literature. If applicable it m

ust be precededor accom

panied by a prospectus, or equivalent, and disclosure statement. Please see im

portant disclosures at the end of this report.

ß®

54

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55

Fidelity® 500 Index Fund Fact Sheet

FXAIX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations FXAIX +/- Category


Communication Services 10.7% 0.6% Asset Allocation Morningstar Style Box






Technology 24.2% 1.4%

Energy 2.3% 0.3%

Financial Services 13.5% -0.2% 0.4% 98.7%

Utilities 2.8% 0.3% 0.0% 0.9%

Other 0.0% 0.0% 0.0% 0.0%

2.0%

13.7%

2.4%

0.0%

27.34%

$176,967

28.34

4.01

1.65% -0.14%

-0.25

3.52

-$56,246

-23.00%

10.2%

2.4%

22.8%

11.2%

12.08 Years

Category

2.6%

10.1%

7.9%

14.6%

+/- CategoryFXAIX

Sm

all

Lar

geM

id

Fidelity® 500 Index

Louis Bottari

$284,622,982,548

5/4/2011

0.015%

FXAIX

US Fund Large Blend

S&P 500 TR USD

12.1%

18.4% 18.4%

14.2% 15.2% 13.9%12.1%

18.4% 18.4%

14.2% 15.2% 13.9%


FXAIX Benchmark

18.4%

31.5%

-4.4%

21.8%

12.0%

1.4%

18.4%

31.5%

-4.4%

21.8%

12.0%

1.4%

2020 2019 2018 2017 2016 2015

FXAIX Benchmark

56

Fidelity® 500 Index Fund Fact Sheet

FXAIX Data as of 12/31/2020


12.14% 18.40% 18.40% 14.17% 15.21% 13.87% 4Q20 3Q20 2Q20 1Q20

12.15% 18.40% 18.40% 14.18% 15.22% 13.88% 12.14% 8.94% 20.53% -19.59%

+/- Benchmark -0.01% 0.00% 0.00% -0.01% -0.01% -0.01% 12.15% 8.93% 20.54% -19.60%

Peer Group Rank 50 33 33 21 16 10 +/- Benchmark -0.01% 0.01% -0.01% 0.00%


18.40% 31.47% -4.40% 21.81% 11.97% 1.38% 4Q19 3Q19 2Q19 1Q19

18.40% 31.49% -4.38% 21.83% 11.96% 1.38% 9.06% 1.69% 4.30% 13.65%

+/- Benchmark 0.00% -0.01% -0.02% -0.02% 0.01% 0.00% 9.07% 1.70% 4.30% 13.65%

Peer Group Rank 33 23 24 32 29 25 +/- Benchmark -0.01% 0.00% 0.00% 0.00%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


15.21% 14.14% 10.72% 6.72% 11.69% 10.83% -13.53% 7.71% 3.43% -0.77%

15.22% 14.15% 10.73% 6.73% 11.70% 10.84% -13.52% 7.71% 3.43% -0.76%

+/- Benchmark -0.01% -0.01% -0.01% -0.01% -0.01% -0.01% +/- Benchmark -0.01% 0.00% 0.00% -0.01%

Peer Group Rank 16 11 9 9 9 12



Alpha -0.01 0.00 -0.01 0.00 -0.01 0.00 6.64% 4.48% 3.09% 6.07%

Beta 1.00 1.00 1.00 1.00 1.00 1.00 +/- Benchmark 0.00% -0.01% 0.01% -0.02%


Sharpe Ratio 0.72 0.72 0.93 0.93 0.99 0.99

Information Ratio -1.00 - -0.66 - -0.49 - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 12.65 12.66 14.04 14.05 13.26 13.27 3.83% 3.85% 2.46% 1.35%


Downside Capture Ratio 100.02 100.00 100.00 100.00 100.03 100.00 +/- Benchmark 0.00% 0.00% 0.00% 0.00%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

57

Fidelity® 500 Index (U

SD)

Morningstar A

nalyst RatingTM

Œ03-03-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

S&P 500 TR USD

Russell 1000 TRUSD

US Fund Large Blend1,232 US Fund Large Blend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.77

3.437.71

-13.53-4.40

201913.65

4.301.69

9.0631.47

2020-19.59

20.538.94

12.1418.40


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

18.4014.17

15.21—

13.51Std 12-31-2020

18.40—

15.21—

13.51Total Return

18.4014.17

15.2113.87

13.51

+/- Std Index0.00

-0.01-0.01

-0.01—

+/- Cat Index-2.57

-0.65-0.39

-0.14—

% Rank Cat

3723

1911

No. in Cat

13631232

1072814


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

w.institutional.fidelity.com

.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.02

12b1 Expense %N

AN

et Expense Ratio %0.02

Gross Expense Ratio %

0.02


5 Yr10 Yr

1232 funds1072 funds

814 funds

Morningstar Rating

TM4Q

4Q5W

Morningstar Risk

AvgAvg

AvgM


+Avg+Avg

3 Yr5 Yr

10 Yr


15.2613.54

Mean

14.1715.21

13.87Sharpe Ratio

0.720.93

0.99

MPT Statistics


S&P 500 TR USD

Alpha-0.01

-0.01Beta

1.001.00

R-Squared100.00

100.00

12-Month Yield


35.69%

44

44

44

44

44

44

99100

9999

9999

99100

99100

99100

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Fidelity® 500 Index


__

_*

*&

&*

*&

&*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

44.5050.49

65.4972.85

71.8078.35

93.4587.10

112.02130.17

NAV/Price

26.5114.98

2.1015.99

32.3713.66

1.3811.97

21.81-4.40

31.4718.40

Total Return %

0.05-0.09

-0.01-0.01

-0.01-0.03

0.000.01

-0.02-0.02

-0.010.00

+/- Standard Index

-1.92-1.12

0.60-0.43

-0.740.42

0.47-0.09

0.120.38

0.05-2.57

+/- Category Index

——

—35

4118

2026

2825

2337

% Rank Cat

——

—1686

15591568

16061409

13961402

13871363

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.31

0.310.00

US Stocks98.76

98.760.00

Non-US Stocks

0.930.93

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM27.2

0.961.10

P/C Ratio TTM15.8

0.960.98

P/B Ratio TTM3.8

0.950.89

Geo Avg Mkt Cap

$mil

1656770.94

0.71

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

99.11.00

Greater Europe0.9

1.02Greater Asia

0.01.00


ShareAm


e,4%

Turnover Ratio

Net Assets%

T146 m

ilApple Inc

6.32

T69 m

ilM

icrosoft Corp5.35

T4 m

ilAm

azon.com Inc

4.46

T22 m

ilFacebook Inc A

2.20

T3 m

ilAlphabet Inc A

1.74

T3 m

ilAlphabet Inc Class C

1.71

T18 m

ilBerkshire Hathaw

ay Inc Class B1.50

T24 m

ilJohnson &

Johnson1.26

T28 m

ilJPM

organ Chase & Co

1.19

T15 m

ilVisa Inc Class A

1.17

T23 m

ilProcter &

Gamble Co

1.14

T6 m

ilN

VIDIA Corp1.09

T9 m

ilUnitedHealth Group Inc

1.06

T10 m

ilThe Hom

e Depot Inc0.99

T8 m

ilM

astercard Inc A0.98

Sector Weightings


hCyclical

29.40.96

rBasic M

aterials2.3

1.01t

Consumer Cyclical

11.10.89

yFinancial Services

13.51.00

uReal Estate

2.51.04

jSensitive

46.61.01

iCom

munication Services

11.01.02

oEnergy

2.31.01

pIndustrials

9.11.04

aTechnology

24.21.00

kD

efensive24.0

1.03

sConsum

er Defensive7.3

1.05d

Healthcare13.8

1.02f

Utilities2.9

1.05

Operations

Family:

Fidelity Investments

Manager:

Multiple

Tenure:12.0 Years

Objective:Grow

th and Income

Base Currency:USD

Ticker:FXAIX

ISIN:

US3159117502M

inimum

Initial Purchase:$0


Incept:05-04-2011

Type:M

FTotal Assets:

$287,097.06 mil


ore information.

©2021 M
























ß®

58

Fidelity® Interm Trs Bd Index Fund Fact Sheet

FUAMX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance



Average Eff Duration

Average Eff Maturity

Average Credit Quality

Average Coupon

Sector Allocations FUAMX +/- Category

Government 99.6% 47.8%

Municipal 0.0% -0.6% Asset Allocation Morningstar Style Box

Bank Loan 0.0% 0.0% Low IR Sens Mod IR Sens Ext IR Sens

Convertible 0.0% -0.2%

Corporate Bond 0.0% -1.1%

Preferred Stock 0.0% 0.0%

Agency MBS 0.0% -39.5%

Non-Agency RMBS 0.0% -0.1%

Commercial MBS 0.0% -0.2%

Asset-Backed 0.0% -1.4% 0.4% 0.0%

Cash & Equivalents 0.4% -4.6% 99.6% 0.0%

Other 0.0% -0.1% 0.0% 0.0%

0.2%

1.4%

5.0%

0.1%

36.07%

6.65

-

AAA

1.82% -0.17%

AA (Cat Avg.)

-

2.48

-33.23%

0.0%

39.5%

0.1%

0.0%

6.75 Years

Category

51.8%

0.6%

0.2%

1.1%

+/- CategoryFUAMX

Low

Qu

al

Hig

h Q

ual

Med

Qu

al

Fidelity® Interm Trs Bd Index

Brandon Bettencourt

$4,345,342,207

10/4/2017

0.030%

FUAMX

US Fund Intermediate Government

BBgBarc US Treasury 5-10 Yr TR USD-0.8%

9.1% 9.1%

5.8%4.1% 4.0%

-0.8%

9.1% 9.1%

5.9%4.2% 4.0%


FUAMX Benchmark

9.1%

7.2%

1.2%2.2%

1.0%1.7%

9.1%7.5%

1.2%2.2%

1.2% 1.8%

2020 2019 2018 2017 2016 2015

FUAMX Benchmark

59

Fidelity® Interm Trs Bd Index Fund Fact Sheet

FUAMX Data as of 12/31/2020


-0.81% 9.10% 9.10% 5.81% 4.10% 3.95% 4Q20 3Q20 2Q20 1Q20

-0.80% 9.09% 9.09% 5.87% 4.17% 4.05% -0.81% 0.26% 0.74% 8.91%

+/- Benchmark 0.00% 0.01% 0.01% -0.07% -0.08% -0.10% -0.80% 0.35% 0.86% 8.66%

Peer Group Rank 93 7 7 1 1 1 +/- Benchmark 0.00% -0.09% -0.12% 0.25%


9.10% 7.25% 1.23% 2.20% 0.97% 1.67% 4Q19 3Q19 2Q19 1Q19

9.09% 7.48% 1.22% 2.17% 1.18% 1.84% -0.91% 2.16% 3.46% 2.40%

+/- Benchmark 0.01% -0.23% 0.01% 0.03% -0.21% -0.16% -0.76% 2.12% 3.53% 2.44%

Peer Group Rank 7 1 3 16 60 11 +/- Benchmark -0.15% 0.04% -0.06% -0.04%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


4.10% 3.98% 4.47% 3.94% 2.64% 3.28% 3.49% -0.50% -0.13% -1.56%

4.17% 4.07% 4.52% 4.00% 2.75% 3.38% 3.40% -0.53% -0.08% -1.51%

+/- Benchmark -0.08% -0.09% -0.05% -0.06% -0.11% -0.09% +/- Benchmark 0.09% 0.03% -0.06% -0.04%



Manager Benchmark Manager Benchmark Manager Benchmark -0.43% 0.39% 1.22% 1.01%

Alpha -0.12 0.00 -0.14 0.00 -0.17 0.00 -0.42% 0.46% 1.23% 0.88%

Beta 1.01 1.00 1.02 1.00 1.02 1.00 +/- Benchmark -0.01% -0.07% -0.02% 0.13%


Sharpe Ratio 0.94 0.97 0.66 0.70 0.74 0.78


Treynor Ratio 4.23 4.36 2.86 3.00 3.26 3.43 -4.78% -0.44% 2.25% 4.16%

Upside Capture Ratio 99.93 100.00 101.14 100.00 101.32 100.00 -4.57% -0.41% 2.29% 4.08%

Downside Capture Ratio 101.77 100.00 104.56 100.00 105.01 100.00 +/- Benchmark -0.21% -0.03% -0.04% 0.08%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

60

Fidelity® Interm

Trs Bd

Index (USD

)M

orningstar Quantitative

RatingTM

‰Q

09-30-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQQ

BBgBarc US AggBond TR USD

BBgBarc USGovernm

ent TRUSD

US Fund Intermediate

Government

224 US Fund Intermediate

Government



2nd Qtr3rd Qtr

4th QtrTotal %

2018-1.56

-0.13-0.50

3.491.23

20192.40

3.462.16

-0.917.25

20208.91

0.740.26

-0.819.10


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

9.105.81

——

5.22Std 12-31-2020

9.10—

——

5.22Total Return

9.105.81

4.103.95

5.22

+/- Std Index1.60

0.47-0.34

0.11—

+/- Cat Index1.16

0.630.34

0.69—

% Rank Cat

43

33

No. in Cat

234224

203180


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww


.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.03

12b1 Expense %N

AN



0.03


5 Yr10 Yr

224 funds203 funds

180 funds

Morningstar Rating

TM5Q

5W5W

Morningstar Risk

HighHigh

HighM

orningstar ReturnHigh

HighHigh

3 Yr5 Yr

10 Yr


4.484.54

Mean

5.814.10

3.95Sharpe Ratio

0.940.66

0.75

MPT Statistics


BBgBarcInterm

ediateTreasury TR USD

Alpha0.43

-0.28Beta

1.021.76

R-Squared57.90

98.02

12-Month Yield


6.77%

77

77

47

74

44

44

100100

100100

10098

100100

100100

97100

4k 10k

20k

40k

60k80k100k

Investment Style

Fixed-Income

Bond %

Grow

th of $10,000

Fidelity® Interm

Trs Bd Index15,205Category Average14,243Standard Index16,450

__

__

__

__

_&

&&

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

——

10.6710.56

11.0811.72

NAV/Price

-4.948.58

13.043.41

-4.706.41

1.670.97

2.201.23

7.259.10

Total Return %

-10.872.04

5.20-0.81

-2.670.45

1.12-1.68

-1.341.22

-1.471.60

+/- Standard Index

-2.743.06

4.021.39

-2.101.50

0.81-0.08

-0.100.35

0.421.16

+/- Category Index

——

——

——

——

—9

14

% Rank Cat

——

——

——

——

—235

232234

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.50

0.500.00

US Stocks0.00

0.000.00

Non-US Stocks

0.000.00

0.00Bonds

99.5099.50

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM—

——

P/C Ratio TTM—

——

P/B Ratio TTM—

——

Geo Avg Mkt Cap

$mil

——

—

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

6.57Avg W

td Coupon—

Avg Wtd Price

108.48

Credit Quality B

reakdown 10-31-2020

Bond %

AAA100.00

AA0.00

A0.00

BBB0.00

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

——

Greater Europe—

—Greater Asia

——


ShareAm


e,58%

Turnover Ratio

Net Assets%

T232 m

ilUnited States Treasury N

otes 0.62%4.91

186 mil

United States Treasury Notes 2.88%

4.67166 m


otes 3.12%4.24

158 mil


3.63

Y169 m


otes 0.62%3.57

140 mil


3.37129 m


otes 2.62%3.21

T118 m


otes 2.75%2.93

110 mil


2.75106 m


otes 2.25%2.53

118 mil


2.53106 m


otes 2.25%2.52

Y108 m


otes 1.62%2.50

116 mil


2.49102 m


otes 2.38%2.46

Sector Weightings


hCyclical

——

rBasic M

aterials—

—t

Consumer Cyclical

——

yFinancial Services

——

uReal Estate

——

jSensitive

——

iCom

munication Services

——

oEnergy

——

pIndustrials

——

aTechnology

——

kD

efensive—

—

sConsum

er Defensive—

—d

Healthcare—

—f

Utilities—

—

Operations

Family:


Manager:

Multiple

Tenure:6.7 Years

Objective:Governm

ent Bond - Treasury

Base Currency:USD

Ticker:FUAM

XISIN

:US31635V2575

Minim

um Initial Purchase:

$0

Purchase Constraints:—

Incept:10-04-2017

Type:M

FTotal Assets:

$4,517.20 mil


ore information.

©2021 M
























ß®

61

Fidelity® Mid Cap Index Fund Fact Sheet

FSMDX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations FSMDX +/- Category



Consumer Discretionary 12.6% -1.4% Value Core Growth


Healthcare 12.8% 0.5%




Energy 2.7% 0.9%


Utilities 5.0% 1.7% 0.0% 1.7%

Other 0.0% 0.0% 0.0% 0.0%

1.8%

13.3%

3.3%

0.0%

4.38%

$16,857

26.13

3.05

1.51% 0.23%

0.28

1.15

$5,591

-12.57%

16.1%

7.3%

18.6%

14.1%

9.42 Years

Category

4.3%

4.5%

4.6%

12.2%

+/- CategoryFSMDX

Sm

all

Lar

ge

Mid

Fidelity® Mid Cap Index

Louis Bottari

$18,409,825,194

9/8/2011

0.025%

FSMDX

US Fund Mid-Cap Blend

Russell Mid Cap TR USD

19.9%17.1% 17.1%

11.6% 13.4%

19.9%17.1% 17.1%

11.6% 13.4% 12.4%


FSMDX Benchmark

17.1%

30.5%

-9.0%

18.5%13.9%

-2.4%

17.1%

30.5%

-9.1%

18.5%13.8%

-2.4%

2020 2019 2018 2017 2016 2015

FSMDX Benchmark

62

Fidelity® Mid Cap Index Fund Fact Sheet

FSMDX Data as of 12/31/2020


19.89% 17.11% 17.11% 11.60% 13.40% - 4Q20 3Q20 2Q20 1Q20

19.91% 17.10% 17.10% 11.61% 13.40% 12.41% 19.89% 7.49% 24.55% -27.04%

+/- Benchmark -0.02% 0.01% 0.01% 0.00% 0.00% - 19.91% 7.46% 24.61% -27.07%

Peer Group Rank 60 23 23 20 18 - +/- Benchmark -0.02% 0.03% -0.06% 0.03%


17.11% 30.51% -9.05% 18.47% 13.86% -2.44% 4Q19 3Q19 2Q19 1Q19

17.10% 30.54% -9.06% 18.52% 13.80% -2.44% 7.06% 0.44% 4.14% 16.53%

+/- Benchmark 0.01% -0.03% 0.01% -0.05% 0.07% 0.00% 7.06% 0.48% 4.13% 16.54%

Peer Group Rank 23 24 26 27 57 33 +/- Benchmark 0.00% -0.04% 0.01% 0.00%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


13.40% 10.13% 6.75% 1.86% 9.33% 9.09% -15.32% 4.97% 2.80% -0.48%

13.40% 10.13% 6.76% 1.85% 9.33% 9.10% -15.37% 5.00% 2.82% -0.46%

+/- Benchmark 0.00% 0.00% -0.01% 0.01% 0.00% -0.01% +/- Benchmark 0.06% -0.02% -0.02% -0.02%

Peer Group Rank 18 18 15 14 14 15



Alpha 0.00 0.00 0.01 0.00 - 0.00 6.07% 3.47% 2.70% 5.15%

Beta 1.00 1.00 1.00 1.00 - 1.00 +/- Benchmark 0.01% -0.04% 0.01% -0.03%

Standard Deviation 22.11 22.13 18.05 18.08 - 15.70

Sharpe Ratio 0.54 0.54 0.73 0.72 - 0.79

Information Ratio -0.04 - 0.03 - - - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 10.10 10.09 12.24 12.23 - 11.80 3.19% 4.56% 3.19% 2.27%

Upside Capture Ratio 99.89 100.00 99.87 100.00 - 100.00 3.21% 4.52% 3.18% 2.24%

Downside Capture Ratio 99.86 100.00 99.76 100.00 - 100.00 +/- Benchmark -0.01% 0.04% 0.01% 0.02%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

63

Fidelity® M

id Cap Index(U

SD)

Morningstar Q

uantitativeRating

TM

„Q

09-30-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

S&P 500 TR USD

Russell Mid Cap TR

USDUS Fund M

id-CapBlend

374 US Fund Mid-Cap Blend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.48

2.804.97

-15.32-9.05

201916.53

4.140.44

7.0630.51

2020-27.04

24.557.49

19.8917.11


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

17.1111.60

13.40—

14.09Std 12-31-2020

17.11—

13.40—

14.09Total Return

17.1111.60

13.40—

14.09

+/- Std Index-1.29

-2.57-1.82

——

+/- Cat Index0.01

0.000.00

——

% Rank Cat

2120

17—

No. in Cat

407374

309—


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww


.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.03

12b1 Expense %N

AN



0.03


5 Yr10 Yr

374 funds309 funds

215 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


18.06—

Mean

11.6013.40

—Sharpe Ratio

0.540.73

—

MPT Statistics


Morningstar US M

idCap TR USD

Alpha-3.35

-0.83Beta

1.131.01

R-Squared92.38

99.84

12-Month Yield


-2.48%

00

55

55

55

55

55

——

9499

9998

9999

10098

99100

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Fidelity® M

id Cap Index36,709Category Average29,765Standard Index40,187

__

_*

*&

*(

&*

&&

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

10.3911.96

15.8317.45

16.3218.17

20.9818.63

23.6327.01

NAV/Price

——

—17.22

34.7813.11

-2.4413.86

18.47-9.05

30.5117.11

Total Return %

——

—1.21

2.39-0.57

-3.831.90

-3.36-4.67

-0.98-1.29

+/- Standard Index

——

—-0.06

0.02-0.10

0.000.07

-0.050.01

-0.030.01

+/- Category Index

——

—41

457

2759

2429

1821

% Rank Cat

——

—412

399369

432427

443464

404407

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks98.16

98.160.00

Non-US Stocks

1.661.66

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM25.0

0.881.00

P/C Ratio TTM13.3

0.811.07

P/B Ratio TTM2.9

0.731.05

Geo Avg Mkt Cap

$mil

161720.09

1.44

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

98.50.99

Greater Europe0.8

0.91Greater Asia

0.715.43


ShareAm


e,14%

Turnover Ratio

Net Assets%

T262,423

Twilio Inc A

0.49

T546,980

Moderna Inc

0.49

T217,680

Lululemon Athletica Inc

0.47

T341,602

DocuSign Inc0.45

T760,591

IHS Markit Ltd

0.44

T297,443

KLA Corp0.44

T161,186

IDEXX Laboratories Inc0.43

T250,828

Spotify Technology SA0.43

T553,166

Amphenol Corp Class A

0.42

T149,559

Align Technology Inc0.42

T79,171

The Trade Desk Inc A0.42

T255,933

Veeva Systems Inc Class A

0.41

T592,759

Agilent Technologies Inc0.40

T53,363

Chipotle Mexican Grill Inc Class A

0.40

T1 m

ilTw

itter Inc0.40

Sector Weightings


hCyclical

34.91.14

rBasic M

aterials3.9

1.70t

Consumer Cyclical

12.71.01

yFinancial Services

10.80.80

uReal Estate

7.63.15

jSensitive

42.50.92

iCom

munication Services

5.40.50

oEnergy

2.61.15

pIndustrials

14.81.69

aTechnology

19.60.81

kD

efensive22.6

0.97

sConsum

er Defensive4.5

0.65d

Healthcare12.8

0.94f

Utilities5.2

1.90

Operations

Family:


Manager:

Multiple

Tenure:9.3 Years

Objective:Grow

th

Base Currency:USD

Ticker:FSM

DXISIN

:US3161462656

Minim


$0


Incept:09-08-2011

Type:M

FTotal Assets:

$18,122.40 mil

Release date 12-31-2020

©2021 M
























ß®

64

Fidelity® Small Cap Index Fund Fact Sheet

FSSNX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations FSSNX +/- Category





Healthcare 21.1% 6.0%




Energy 1.8% -0.3%


Utilities 3.3% 0.7% 0.0% 0.8%

Other 0.0% 0.0% 0.0% 0.0%

2.0%

15.8%

2.6%

0.0%

3.90%

$1,893

17.30

1.84

1.68% 0.48%

-0.58

-3.46

-$2,406

-20.44%

18.5%

7.0%

15.0%

12.8%

9.42 Years

Category

4.3%

2.5%

4.2%

15.2%

+/- CategoryFSSNX

Sm

all

Lar

geM

id

Fidelity® Small Cap Index

Louis Bottari

$17,653,180,130

9/8/2011

0.025%

FSSNX

US Fund Small Blend

Russell 2000 TR USD

31.3%

20.0% 20.0%

10.4%13.4%

31.4%

20.0% 20.0%

10.2%13.3% 11.2%


FSSNX Benchmark

20.0%25.7%

-10.9%

14.9%21.6%

-4.2%

20.0%25.5%

-11.0%

14.6%21.3%

-4.4%

2020 2019 2018 2017 2016 2015

FSSNX Benchmark

65

Fidelity® Small Cap Index Fund Fact Sheet

FSSNX Data as of 12/31/2020


31.28% 19.99% 19.99% 10.36% 13.43% - 4Q20 3Q20 2Q20 1Q20

31.37% 19.96% 19.96% 10.25% 13.26% 11.20% 31.28% 4.98% 25.49% -30.62%

+/- Benchmark -0.09% 0.03% 0.03% 0.12% 0.17% - 31.37% 4.93% 25.42% -30.61%

Peer Group Rank 20 12 12 14 8 - +/- Benchmark -0.09% 0.05% 0.07% -0.01%


19.99% 25.71% -10.88% 14.85% 21.63% -4.24% 4Q19 3Q19 2Q19 1Q19

19.96% 25.52% -11.01% 14.65% 21.31% -4.41% 10.01% -2.34% 2.13% 14.56%

+/- Benchmark 0.03% 0.18% 0.14% 0.20% 0.32% 0.17% 9.94% -2.40% 2.10% 14.58%

Peer Group Rank 12 35 36 25 47 52 +/- Benchmark 0.07% 0.06% 0.04% -0.02%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


13.43% 8.19% 4.47% -0.07% 8.43% 8.39% -20.17% 3.63% 7.79% -0.05%

13.26% 8.00% 4.29% -0.25% 8.23% 8.19% -20.20% 3.58% 7.75% -0.08%

+/- Benchmark 0.17% 0.18% 0.18% 0.17% 0.20% 0.20% +/- Benchmark 0.03% 0.05% 0.03% 0.03%




Alpha 0.11 0.00 0.16 0.00 - 0.00 3.34% 5.67% 2.46% 2.47%

Beta 1.00 1.00 1.00 1.00 - 1.00 +/- Benchmark 0.04% 0.04% 0.06% 0.04%


Sharpe Ratio 0.45 0.45 0.64 0.63 - 0.63

Information Ratio 1.40 - 1.79 - - - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 8.85 8.73 12.26 12.09 - 10.59 8.89% 9.06% 3.90% -1.42%

Upside Capture Ratio 100.20 100.00 100.30 100.00 - 100.00 8.83% 9.05% 3.79% -1.52%

Downside Capture Ratio 99.89 100.00 99.75 100.00 - 100.00 +/- Benchmark 0.05% 0.01% 0.11% 0.10%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

66

Fidelity® Sm

all Cap Index(U

SD)

Morningstar Q

uantitativeRating

TM

´Q

09-30-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

S&P 500 TR USD

Russell 2000 TRUSD

US Fund Small Blend

629 US Fund Small Blend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.05

7.793.63

-20.17-10.88

201914.56

2.13-2.34

10.0125.71

2020-30.62

25.494.98

31.2819.99


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

19.9910.36

13.43—

13.59Std 12-31-2020

19.99—

13.43—

13.59Total Return

19.9910.36

13.43—

13.59

+/- Std Index1.59

-3.81-1.79

——

+/- Cat Index0.03

0.120.17

——

% Rank Cat

1413

8—

No. in Cat

671629

517—


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww


.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.03

12b1 Expense %N

AN



0.03


5 Yr10 Yr

629 funds517 funds

367 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


High—

3 Yr5 Yr

10 Yr


21.53—

Mean

10.3613.43

—Sharpe Ratio

0.460.64

—

MPT Statistics


Russell 2000 TRUSD

Alpha-5.48

0.11Beta

1.271.00

R-Squared86.33

100.00

12-Month Yield


-14.47%

00

66

66

66

96

66

——

9498

9999

9883

99100

100100

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Fidelity® Sm

all Cap Index35,264Category Average29,048Standard Index40,187

__

_*

**

**

&*

*&

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

10.6612.15

16.5416.79

15.4618.36

20.3217.24

21.0324.98

NAV/Price

——

—16.38

39.025.19

-4.2421.63

14.85-10.88

25.7119.99

Total Return %

——

—0.38

6.64-8.50

-5.639.67

-6.98-6.49

-5.781.59

+/- Standard Index

——

—0.03

0.200.30

0.170.32

0.200.14

0.180.03

+/- Category Index

——

—34

3340

4440

2233

3014

% Rank Cat

——

—662

681737

780750

802769

702671

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.01

0.010.00

US Stocks99.15

99.150.00

Non-US Stocks

0.840.84

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM17.3

0.610.83

P/C Ratio TTM7.8

0.470.80

P/B Ratio TTM1.8

0.460.76

Geo Avg Mkt Cap

$mil

18930.01

0.44

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

99.71.01

Greater Europe0.1

0.17Greater Asia

0.13.32


ShareAm

ountHoldings :2,010 Total Stocks , 0 Total Fixed-Incom

e,17%

Turnover Ratio

Net Assets%

T324,667

MyoKardia Inc

0.59

T974,267

Penn National Gam

ing Inc0.43

T239,678

Mirati Therapeutics Inc

0.42

T935,402

Sunrun Inc0.40

T1 m

ilCaesars Entertainm

ent Inc0.39

T179,496

Deckers Outdoor Corp0.37

T1 m

ilDarling Ingredients Inc

0.36

T194,710

LHC Group Inc0.34

T163,167

Lithia Motors Inc Class A

0.30

T175,824

iRhythm Technologies Inc

0.30

T367,921

Ultragenyx Pharmaceutical Inc

0.30

T645,271

Arrowhead Pharm

aceuticals Inc0.30

T243,213

Churchill Downs Inc

0.29

T353,887

Blueprint Medicines Corp

0.29

T344,607

Tetra Tech Inc0.28

Sector Weightings


hCyclical

38.01.24

rBasic M

aterials3.9

1.70t

Consumer Cyclical

12.10.97

yFinancial Services

14.61.08

uReal Estate

7.53.10

jSensitive

33.70.73

iCom

munication Services

2.40.22

oEnergy

1.80.78

pIndustrials

15.51.76

aTechnology

14.00.58

kD

efensive28.3

1.22

sConsum

er Defensive3.9

0.55d

Healthcare21.1

1.56f

Utilities3.3

1.20

Operations

Family:


Manager:

Multiple

Tenure:9.3 Years

Objective:Sm

all Company

Base Currency:USD

Ticker:FSSN

XISIN

:US3161461823

Minim


$0


Incept:09-08-2011

Type:M

FTotal Assets:

$16,442.50 mil


©2021 M
























ß®

67

Fidelity® Total International Index Fund Fact Sheet

FTIHX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations FTIHX +/- Category

Materials 8.3% 0.5%








Energy 4.1% 1.0%


Utilities 3.3% 0.1% 0.0% 97.9%

Other 0.0% 0.0% 0.0% 0.1%

3.1%

16.0%

3.3%

0.0%

10.51%

$29,672

20.10

1.74

2.41% -0.04%

-0.19

-1.01

-$19,904

-4.41%

14.7%

2.4%

11.9%

11.2%

4.67 Years

Category

7.9%

7.1%

10.3%

12.2%

+/- CategoryFTIHX

Sm

all

Lar

geM

id

Fidelity® Total International Index

Multiple

$6,017,445,939

6/7/2016

0.060%

FTIHX

US Fund Foreign Large Blend

MSCI ACWI Ex USA IMI NR USD

16.8%

11.1% 11.1%

4.9%

17.2%

11.1% 11.1%

4.8%

9.0%

5.1%


FTIHX Benchmark

11.1%21.5%

-14.4%

27.6%

11.1%

21.6%

-14.8%

27.8%

4.4%

-4.6%

2020 2019 2018 2017 2016 2015

FTIHX Benchmark

68

Fidelity® Total International Index Fund Fact Sheet

FTIHX Data as of 12/31/2020


16.81% 11.07% 11.07% 4.93% - - 4Q20 3Q20 2Q20 1Q20

17.22% 11.12% 11.12% 4.83% 8.98% 5.06% 16.81% 6.78% 17.41% -24.15%

+/- Benchmark -0.41% -0.04% -0.04% 0.09% - - 17.22% 6.80% 16.96% -24.11%

Peer Group Rank 36 39 39 39 - - +/- Benchmark -0.41% -0.01% 0.45% -0.05%


11.07% 21.48% -14.38% 27.63% - - 4Q19 3Q19 2Q19 1Q19

11.12% 21.63% -14.76% 27.81% 4.41% -4.60% 9.02% -1.68% 2.85% 10.19%

+/- Benchmark -0.04% -0.16% 0.37% -0.18% - - 9.20% -1.72% 2.74% 10.31%

Peer Group Rank 39 60 41 27 - - +/- Benchmark -0.18% 0.04% 0.11% -0.12%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


- - - - - - -11.71% 0.33% -2.96% -0.40%

8.98% 6.31% 2.30% -0.66% 5.71% 3.05% -11.88% 0.39% -2.61% -1.06%

+/- Benchmark - - - - - - +/- Benchmark 0.17% -0.06% -0.35% 0.66%

Peer Group Rank - - - - - -



Alpha 0.12 0.00 - 0.00 - 0.00 5.23% 6.27% 5.85% 7.99%

Beta 0.99 1.00 - 1.00 - 1.00 +/- Benchmark -0.27% -0.16% 0.07% 0.21%

Standard Deviation 18.45 18.53 - 15.66 - 15.25

Sharpe Ratio 0.27 0.26 - 0.55 - 0.36

Information Ratio 0.06 - - - - - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 3.44 3.32 - 7.81 - 4.44 -2.36% 6.85% - -

Upside Capture Ratio 99.43 100.00 - 100.00 - 100.00 -1.57% 7.05% -0.68% -0.23%

Downside Capture Ratio 98.95 100.00 - 100.00 - 100.00 +/- Benchmark -0.79% -0.20% - -



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

69

Fidelity® Total International

Index (USD

)M


RatingTM

„Q

09-30-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQ

MSCI ACW

I ExUSA N

R USDM

SCI ACWI Ex

USA NR USD

US Fund Foreign LargeBlend

676 US Fund Foreign LargeBlend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.40

-2.960.33

-11.71-14.38

201910.19

2.85-1.68

9.0221.48

2020-24.15

17.416.78

16.8111.07


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

11.074.93

——

8.99Std 12-31-2020

11.07—

——

8.99Total Return

11.074.93

——

8.99

+/- Std Index0.42

0.05—

——

+/- Cat Index0.42

0.05—

——

% Rank Cat

3237

——

No. in Cat

785676

——


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww


.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.06

12b1 Expense %N

AN



0.06


5 Yr10 Yr

676 funds586 funds

382 funds

Morningstar Rating

TM3Q

——

Morningstar Risk

Avg—

—M

orningstar ReturnAvg

——

3 Yr5 Yr

10 Yr


——

Mean

4.93—

—Sharpe Ratio

0.27—

—

MPT Statistics


Morningstar Gbl

Mkts xUS GR USD

Alpha0.06

-0.61Beta

1.011.00

R-Squared99.07

99.28

12-Month Yield


1.03%

00

00

00

04

44

44

——

——

——

—96

9790

9598

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Fidelity® Total International

Index15,383Category Average14,702Standard Index15,491

__

__

__

__

&*

(*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

—10.00

12.5310.50

12.4213.57

NAV/Price

——

——

——

——

27.63-14.38

21.4811.07

Total Return %

——

——

——

——

0.44-0.19

-0.030.42

+/- Standard Index

——

——

——

——

0.44-0.19

-0.030.42

+/- Category Index

——

——

——

——

2249

5332

% Rank Cat

——

——

——

——

756741

732785

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash1.86

1.860.00

US Stocks0.70

0.700.00

Non-US Stocks

97.3497.34

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.11

0.110.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM19.5

0.960.92

P/C Ratio TTM9.6

0.930.89

P/B Ratio TTM1.7

0.930.86

Geo Avg Mkt Cap

$mil

286970.65

0.58

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

9.41.00

Greater Europe42.6

1.00Greater Asia

48.01.00


ShareAm

ountHoldings :4,694 Total Stocks , 2 Total Fixed-Incom

e,4%

Turnover Ratio

Net Assets%

360,217Alibaba Group Holding Ltd ADR

1.735 m

ilTaiw

an Semiconductor M

anufacturing1.46

1 mil

Tencent Holdings Ltd1.46

R74 m

ilFidelity Revere Str Tr

1.35

T729

MSCI EAFE Index Future Dec 20

1.35

565,737N

estle SA1.16

876,192Sam

sung Electronics Co Ltd0.96

134,247Roche Holding AG Dividend Right Ce

0.80421,172

Novartis AG

0.70

R588

MSCI Em

erging Markets Index TAS Fu

0.64

81,209ASM

L Holding NV

0.6452,871

LVMH M

oet Hennessy Louis Vuitton SE0.55

498,656Unilever PLC

0.55401,692

Toyota Motor Corp

0.49251,081

AstraZeneca PLC0.48

Sector Weightings


hCyclical

41.41.01

rBasic M

aterials8.1

1.00t

Consumer Cyclical

12.41.02

yFinancial Services

17.20.95

uReal Estate

3.71.39

jSensitive

36.71.00

iCom

munication Services

7.50.95

oEnergy

4.20.94

pIndustrials

12.71.12

aTechnology

12.30.94

kD

efensive21.9

0.98

sConsum

er Defensive8.9

0.97d

Healthcare9.7

0.99f

Utilities3.3

0.99

Operations

Family:


Manager:

Multiple

Tenure:4.6 Years

Objective:Foreign Stock

Base Currency:USD

Ticker:FTIHX

ISIN:

US31635V6386M

inimum

Initial Purchase:$0


Incept:06-07-2016

Type:M

FTotal Assets:

$5,794.35 mil


©2021 M
























ß®

70

Fidelity® US Bond Index Fund Fact Sheet

FXNAX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance






Average Coupon

Sector Allocations FXNAX +/- Category

Government 45.1% 17.7%


Bank Loan 0.0% -0.2% Low IR Sens Mod IR Sens Ext IR Sens




Agency MBS 25.9% 0.5%

Non-Agency RMBS 0.0% -0.3%

Commercial MBS 1.2% -0.9%

Asset-Backed 0.1% -5.1% 1.6% 0.0%


Other 0.0% -1.6% 9.1% 0.0%

2.1%

5.3%

6.7%

1.6%

17.27%

5.75

-

AA

2.71% 0.06%

A (Cat Avg.)

-

0.12

-29.51%

0.0%

25.4%

0.3%

0.2%

6.75 Years

Category

27.4%

0.9%

1.4%

28.6%

+/- CategoryFXNAX

Low

Qu

al

Hig

h Q

ual

Med

Qu

al

Fidelity® US Bond Index

Brandon Bettencourt

$58,101,680,320

5/4/2011

0.025%

FXNAX

US Fund Intermediate Core Bond

BBgBarc US Agg Bond TR USD0.8%

7.8% 7.8%

5.4%4.4% 3.8%

0.7%

7.5% 7.5%

5.3%4.4% 3.8%


FXNAX Benchmark

7.8% 8.5%

0.0%

3.5%2.5%

0.6%

7.5%8.7%

0.0%

3.5%2.6%

0.5%

2020 2019 2018 2017 2016 2015

FXNAX Benchmark

71

Fidelity® US Bond Index Fund Fact Sheet

FXNAX Data as of 12/31/2020


0.75% 7.80% 7.80% 5.36% 4.41% 3.82% 4Q20 3Q20 2Q20 1Q20

0.67% 7.51% 7.51% 5.34% 4.44% 3.84% 0.75% 0.43% 2.77% 3.66%

+/- Benchmark 0.08% 0.29% 0.29% 0.02% -0.02% -0.02% 0.67% 0.62% 2.90% 3.15%

Peer Group Rank 67 49 49 39 47 48 +/- Benchmark 0.08% -0.19% -0.13% 0.51%


7.80% 8.48% 0.01% 3.50% 2.52% 0.63% 4Q19 3Q19 2Q19 1Q19

7.51% 8.72% 0.01% 3.54% 2.65% 0.55% 0.06% 2.27% 2.97% 2.96%

+/- Benchmark 0.29% -0.23% 0.00% -0.04% -0.13% 0.08% 0.18% 2.27% 3.08% 2.94%

Peer Group Rank 49 49 25 43 55 23 +/- Benchmark -0.12% 0.00% -0.11% 0.01%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


4.41% 4.14% 4.32% 3.39% 2.99% 3.33% 1.70% 0.07% -0.22% -1.51%

4.44% 4.18% 4.30% 3.36% 3.05% 3.38% 1.64% 0.02% -0.16% -1.46%

+/- Benchmark -0.02% -0.04% 0.02% 0.03% -0.06% -0.05% +/- Benchmark 0.06% 0.05% -0.06% -0.05%




Alpha 0.01 0.00 -0.07 0.00 -0.11 0.00 0.39% 0.85% 1.45% 0.82%

Beta 1.00 1.00 1.02 1.00 1.03 1.00 +/- Benchmark -0.02% 0.03% -0.12% 0.07%


Sharpe Ratio 1.11 1.11 1.00 1.03 1.06 1.10

Information Ratio 0.06 - -0.08 - -0.08 - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 3.84 3.82 3.19 3.27 3.12 3.23 -3.14% 0.42% 2.24% 3.09%

Upside Capture Ratio 100.16 100.00 100.46 100.00 101.77 100.00 -2.98% 0.46% 2.21% 3.03%

Downside Capture Ratio 99.72 100.00 102.31 100.00 105.71 100.00 +/- Benchmark -0.16% -0.04% 0.03% 0.06%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

72

Fidelity® U

S Bond Index

(USD

)M

orningstar Analyst Rating

TM

Œ04-01-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQ




Core Bond380 US Fund Interm

ediateCore Bond



2nd Qtr3rd Qtr

4th QtrTotal %

2018-1.51

-0.220.07

1.700.01

20192.96

2.972.27

0.068.48

20203.66

2.770.43

0.757.80


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

7.805.36

4.41—

3.74Std 12-31-2020

7.80—

4.41—

3.74Total Return

7.805.36

4.413.82

3.74

+/- Std Index0.29

0.02-0.02

-0.02—

+/- Cat Index0.29

0.02-0.02

-0.02—

% Rank Cat

4135

4246

No. in Cat

415380

330252


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww


.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.03

12b1 Expense %N

AN



0.03


5 Yr10 Yr

380 funds330 funds

252 funds

Morningstar Rating

TM3Q

3Q3W

Morningstar Risk

-AvgAvg

AvgM


AvgAvg

3 Yr5 Yr

10 Yr


3.223.03

Mean

5.364.41

3.82Sharpe Ratio

1.111.00

1.06

MPT Statistics



Alpha0.01

0.01Beta

1.001.00

R-Squared99.00

99.00

12-Month Yield


0.01%

44

44

44

44

44

44

8492

9693

9896

9999

9799

9697

4k 10k

20k

40k

60k80k100k

Investment Style

Fixed-Income

Bond %

Grow

th of $10,000

Fidelity® US Bond Index


__

_)

(*

&(

(*

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

11.7811.89

11.3611.73

11.4911.49

11.5911.28

11.9112.45

NAV/Price

6.456.29

7.794.23

-2.195.99

0.632.52

3.500.01

8.487.80

Total Return %

0.52-0.25

-0.060.02

-0.170.02

0.08-0.13

-0.040.00

-0.230.29

+/- Standard Index

0.52-0.25

-0.060.02

-0.170.02

0.08-0.13

-0.040.00

-0.230.29

+/- Category Index

——

—82

6926

1866

5729

4941

% Rank Cat

——

—1165

10791038

1042985

9861019

430415

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash2.34

2.340.00

US Stocks0.00

0.000.00

Non-US Stocks

0.000.00

0.00Bonds

96.7997.05

0.25Other/N

ot Clsfd0.86

0.860.00

Total100.00

100.250.25

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM—

——

P/C Ratio TTM—

——

P/B Ratio TTM—

——

Geo Avg Mkt Cap

$mil

——

—

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

5.73Avg W

td Coupon—

Avg Wtd Price

110.46

Credit Quality B

reakdown 10-31-2020

Bond %

AAA72.61

AA4.56

A12.36

BBB10.30

BB0.14

B0.00

Below B

0.00N

R0.03


Rel Std Index

Americas

——

Greater Europe—

—Greater Asia

——


ShareAm

ountHoldings :0 Total Stocks , 2,251 Total Fixed-Incom

e,59%

Turnover Ratio

Net Assets%

Y1,464 m

ilFannie M

ae 3% 30 Year

2.71

Y1,091 m

ilFannie M

ae 3.5% 30 Year

2.04

T1,159 m

ilFidelity Revere Str Tr

2.03

T1,084 m

ilFreddie M

ac 2.5% 30 Year

1.99

Y1,068 m

ilGinnie M

ae 3% 30 Year

1.96

Y958 m

ilGinnie M

ae 3.5% 30 Year

1.80

Y933 m

ilFannie M

ae 4% 30 Year

1.76

T777 m

ilUm

bs 2% 30 Year

1.41749 m


otes 1.5%1.39

Y729 m

ilFreddie M

ac 3% 30 Year

1.34

Y714 m

ilFreddie M

ac 3.5% 30 Year

1.33694 m


otes 0.12%1.21

611 mil


1.19659 m


otes 0.12%1.15

T494 m

ilGinnie M

ae 2.5% 30 Year

0.91

Sector Weightings


hCyclical

——

rBasic M

aterials—

—t

Consumer Cyclical

——

yFinancial Services

——

uReal Estate

——

jSensitive

——

iCom

munication Services

——

oEnergy

——

pIndustrials

——

aTechnology

——

kD

efensive—

—

sConsum

er Defensive—

—d

Healthcare—

—f

Utilities—

—

Operations

Family:


Manager:

Multiple

Tenure:6.7 Years

Objective:M

ultisector Bond

Base Currency:USD

Ticker:FXN

AXISIN

:US3161463563

Minim


$0


Incept:05-04-2011

Type:M

FTotal Assets:

$57,443.14 mil


ore information.

©2021 M
























ß®

73

Hartford Core Equity R6 Fund Fact Sheet

HAITX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations HAITX +/- Category




Consumer Staples 8.8% 1.0%



Real Estate 1.5% -0.9%


Energy 0.9% -1.1%


Utilities 2.6% 0.2% 0.0% 0.9%

Other 0.0% 0.0% 0.0% 0.0%

2.0%

13.7%

2.4%

0.0%

31.60%

$161,048

29.50

4.23

1.36% -0.43%

-0.03

4.68

-$72,165

-18.73%

10.2%

2.4%

22.8%

11.2%

22.83 Years

Category

2.6%

10.1%

7.9%

14.6%

+/- CategoryHAITX

Sm

all

Lar

geM

id

Hartford Core Equity R6

Mammen Chally

$10,329,562,587

3/31/2015

0.390%

HAITX

US Fund Large Blend

S&P 500 TR USD

12.5%

18.5% 18.5%16.0% 15.1% 15.0%

12.1%

18.4% 18.4%

14.2% 15.2% 13.9%


HAITX Benchmark

18.5%

33.9%

-1.6%

22.2%

5.8% 6.9%

18.4%

31.5%

-4.4%

21.8%12.0%

1.4%

2020 2019 2018 2017 2016 2015

HAITX Benchmark

74

Hartford Core Equity R6 Fund Fact Sheet

HAITX Data as of 12/31/2020


12.49% 18.49% 18.49% 16.03% 15.07% 14.97% 4Q20 3Q20 2Q20 1Q20

12.15% 18.40% 18.40% 14.18% 15.22% 13.88% 12.49% 9.77% 19.10% -19.42%

+/- Benchmark 0.34% 0.09% 0.09% 1.85% -0.14% 1.09% 12.15% 8.93% 20.54% -19.60%

Peer Group Rank 43 31 31 5 19 1 +/- Benchmark 0.34% 0.84% -1.45% 0.17%


18.49% 33.89% -1.55% 22.17% 5.75% 6.90% 4Q19 3Q19 2Q19 1Q19

18.40% 31.49% -4.38% 21.83% 11.96% 1.38% 9.06% 2.49% 5.44% 13.61%

+/- Benchmark 0.09% 2.41% 2.83% 0.33% -6.21% 5.51% 9.07% 1.70% 4.30% 13.65%

Peer Group Rank 31 6 6 28 92 2 +/- Benchmark -0.01% 0.79% 1.14% -0.04%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


15.07% 13.81% 10.81% 7.23% 12.73% 12.35% -11.97% 7.62% 2.78% 1.10%

15.22% 14.15% 10.73% 6.73% 11.70% 10.84% -13.52% 7.71% 3.43% -0.76%

+/- Benchmark -0.14% -0.34% 0.08% 0.50% 1.03% 1.51% +/- Benchmark 1.55% -0.09% -0.65% 1.86%




Alpha 2.14 0.00 0.52 0.00 1.57 0.00 6.64% 4.48% 3.09% 6.07%

Beta 0.95 1.00 0.95 1.00 0.95 1.00 +/- Benchmark 1.12% -1.59% 0.64% 0.15%


Sharpe Ratio 0.83 0.72 0.96 0.93 1.09 0.99

Information Ratio 0.96 - -0.07 - 0.49 - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 15.25 12.66 14.66 14.05 15.12 13.27 1.94% 1.48% 2.36% -0.13%


Downside Capture Ratio 89.30 100.00 91.36 100.00 90.16 100.00 +/- Benchmark -1.88% -2.37% -0.10% -1.47%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

75

Hartford Core Equity R6

(USD

)M


TM

´09-09-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

S&P 500 TR USD

Russell 1000 TRUSD

US Fund Large Blend1,232 US Fund Large Blend



2nd Qtr3rd Qtr

4th QtrTotal %

20181.10

2.787.62

-11.97-1.55

201913.61

5.442.49

9.0633.89

2020-19.42

19.109.77

12.4918.49


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

18.4916.03

15.07—

13.61Std 12-31-2020

18.49—

15.07—

13.61Total Return

18.4916.03

15.0714.97

13.61

+/- Std Index0.09

1.85-0.14

1.09—

+/- Cat Index-2.47

1.21-0.52

0.96—

% Rank Cat

355

231

No. in Cat

13631232

1072814


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

w.hartfordfunds.com

.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.34

12b1 Expense %N

AN



0.39


5 Yr10 Yr

1232 funds1072 funds

814 funds

Morningstar Rating

TM5Q

4Q5W

Morningstar Risk

-Avg-Avg

-AvgM


+AvgHigh

3 Yr5 Yr

10 Yr


14.6113.03

Mean

16.0315.07

14.97Sharpe Ratio

0.840.96

1.09

MPT Statistics


S&P 500 TR USD

Alpha2.14

2.14Beta

0.950.95

R-Squared99.11

99.11

12-Month Yield


22.01%

44

77

77

74

74

44

100100

9899

9996

9297

9894

9898

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Hartford Core Equity R658,123Category Average43,696Standard Index53,403

__

__

__

__

_&

&*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

23.8024.77

29.1627.18

35.4241.63

NAV/Price

25.8114.49

1.4717.29

35.6315.89

6.905.75

22.17-1.55

33.8918.49

Total Return %

-0.66-0.57

-0.641.29

3.252.20

5.51-6.21

0.332.83

2.410.09

+/- Standard Index

-2.63-1.61

-0.030.87

2.522.65

5.98-6.30

0.483.23

2.47-2.47

+/- Category Index

——

——

——

——

—7

735

% Rank Cat

——

——

——

——

—1402

13871363

No. of Funds in Cat


Top Holdings 11-30-2020

Asset A

llocation % 11-30-2020

Net %

Long %Short %

Cash3.54

3.540.00

US Stocks95.57

95.570.00

Non-US Stocks

0.890.89

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM29.5

1.041.19

P/C Ratio TTM19.3

1.171.20

P/B Ratio TTM4.2

1.060.99

Geo Avg Mkt Cap

$mil

1610480.91

0.69

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

99.11.00

Greater Europe0.9

1.09Greater Asia

0.00.00


ShareAm


e,22%

Turnover Ratio

Net Assets%

4 mil

Apple Inc4.91

130,900Am

azon.com Inc

4.21235,809

Alphabet Inc A4.20

2 mil

Microsoft Corp

3.61

T914,632

Facebook Inc A2.57

2 mil

Procter & Gam

ble Co2.25

T1 m

ilThe W

alt Disney Co2.23

R59,150

Future on S&P 500 Index Dec20

2.182 m

ilJPM

organ Chase & Co

2.11585,212

UnitedHealth Group Inc2.00

T2 m

ilM

erck & Co Inc

1.816 m

ilBank of Am

erica Corp1.75

666,466Salesforce.com

Inc1.66

486,210M

astercard Inc A1.66

Y343,095

Thermo Fisher Scientific Inc

1.62

Sector Weightings


hCyclical

28.80.94

rBasic M

aterials2.1

0.92t

Consumer Cyclical

12.20.98

yFinancial Services

13.00.96

uReal Estate

1.50.62

jSensitive

45.50.99

iCom

munication Services

11.31.05

oEnergy

0.90.39

pIndustrials

8.50.97

aTechnology

24.81.03

kD

efensive25.7

1.10

sConsum

er Defensive8.8

1.27d

Healthcare14.2

1.05f

Utilities2.6

0.96

Operations

Family:

Hartford Mutual Funds

Manager:

Multiple

Tenure:22.8 Years

Objective:Grow

th

Base Currency:USD

Ticker:HAITX

ISIN:

US41664R1840M

inimum

Initial Purchase:$0


Incept:03-31-2015

Type:M

FTotal Assets:

$10,308.63 mil


ore information.

©2021 M
























ß®

76

Hartford Schroders US Small Cap Opps SDR Fund Fact Sheet

SCURX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations SCURX +/- Category

Materials 8.2% 3.8%








Energy 3.1% 1.0%


Utilities 2.5% -0.2% 0.0% 1.8%

Other 0.0% 0.0% 0.0% 0.0%

2.0%

15.8%

2.6%

0.0%

14.54%

$3,219

26.80

2.42

1.23% 0.03%

0.00

6.04

-$1,081

-9.81%

18.5%

7.0%

15.0%

12.8%

3.08 Years

Category

4.3%

2.5%

4.2%

15.2%

+/- CategorySCURX

Sm

all

Lar

geM

id

Hartford Schroders US Small Cap Opps SDR

Robert Kaynor

$295,960,003

9/28/2015

1.030%

SCURX

US Fund Small Blend

Russell 2000 TR USD

26.1%

8.1% 8.1% 8.4%11.8% 10.5%

31.4%

20.0% 20.0%

10.2%13.3% 11.2%


SCURX Benchmark

8.1%

32.1%

-10.7%

14.8%19.5%

-1.4%

20.0%25.5%

-11.0%

14.6%21.3%

-4.4%

2020 2019 2018 2017 2016 2015

SCURX Benchmark

77

Hartford Schroders US Small Cap Opps SDR Fund Fact Sheet

SCURX Data as of 12/31/2020


26.06% 8.14% 8.14% 8.43% 11.83% 10.47% 4Q20 3Q20 2Q20 1Q20

31.37% 19.96% 19.96% 10.25% 13.26% 11.20% 26.06% 4.86% 21.22% -32.51%

+/- Benchmark -5.32% -11.82% -11.82% -1.81% -1.43% -0.73% 31.37% 4.93% 25.42% -30.61%

Peer Group Rank 73 67 67 28 32 36 +/- Benchmark -5.32% -0.07% -4.20% -1.90%


8.14% 32.06% -10.72% 14.81% 19.49% -1.37% 4Q19 3Q19 2Q19 1Q19

19.96% 25.52% -11.01% 14.65% 21.31% -4.41% 9.33% 0.72% 6.02% 13.12%

+/- Benchmark -11.82% 6.53% 0.29% 0.16% -1.82% 3.04% 9.94% -2.40% 2.10% 14.58%

Peer Group Rank 67 3 33 26 69 14 +/- Benchmark -0.61% 3.12% 3.92% -1.47%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


11.83% 7.41% 4.52% 0.55% 9.79% 9.60% -16.99% 4.34% 4.69% -1.54%

13.26% 8.00% 4.29% -0.25% 8.23% 8.19% -20.20% 3.58% 7.75% -0.08%

+/- Benchmark -1.43% -0.60% 0.23% 0.80% 1.56% 1.41% +/- Benchmark 3.21% 0.76% -3.06% -1.46%




Alpha -1.04 0.00 -0.10 0.00 0.55 0.00 3.34% 5.67% 2.46% 2.47%

Beta 0.91 1.00 0.89 1.00 0.87 1.00 +/- Benchmark 0.59% -2.20% 0.29% 1.43%


Sharpe Ratio 0.40 0.45 0.62 0.63 0.65 0.63


Treynor Ratio 7.59 8.73 12.04 12.09 11.39 10.59 7.61% 6.26% 2.70% 1.75%

Upside Capture Ratio 91.88 100.00 89.40 100.00 87.05 100.00 8.83% 9.05% 3.79% -1.52%

Downside Capture Ratio 95.31 100.00 89.72 100.00 83.98 100.00 +/- Benchmark -1.22% -2.78% -1.09% 3.26%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

78

Hartford Schroders U

S Small

Cap Opps SD

R (USD

)M


TM

´02-11-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

S&P 500 TR USD

Russell 2000 TRUSD

US Fund Small Blend

629 US Fund Small Blend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-1.54

4.694.34

-16.99-10.72

201913.12

6.020.72

9.3332.06

2020-32.51

21.224.86

26.068.14


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

8.148.43

11.83—

12.03Std 12-31-2020

8.14—

11.83—

12.03Total Return

8.148.43

11.8310.47

12.03

+/- Std Index-10.26

-5.75-3.39

-3.41—

+/- Cat Index-11.82

-1.81-1.43

-0.73—

% Rank Cat

6727

3136

No. in Cat

671629

517367


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

w.hartfordfunds.com

.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.90

12b1 Expense %N

AN



1.10


5 Yr10 Yr

629 funds517 funds

367 funds

Morningstar Rating

TM4Q

4Q4W

Morningstar Risk

-Avg-Avg

LowM


+AvgAvg

3 Yr5 Yr

10 Yr


19.4716.66

Mean

8.4311.83

10.47Sharpe Ratio

0.400.62

0.65

MPT Statistics


Morningstar US

Small Cap TR USD

Alpha-6.50

0.07Beta

1.180.92

R-Squared87.29

97.63

12-Month Yield


9.95%

96

66

69

99

96

66

8989

9190

9294

9292

9394

9596

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

Hartford Schroders US Small

Cap Opps SDR43,321Category Average40,048Standard Index53,403

__

__

__

_(

_*

&(

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

22.9225.91

27.2722.03

27.6529.84

NAV/Price

32.3320.91

-4.4312.45

34.628.50

-1.3719.49

14.81-10.72

32.068.14

Total Return %

5.875.84

-6.55-3.55

2.23-5.19

-2.757.53

-7.03-6.34

0.57-10.26

+/- Standard Index

5.16-5.95

-0.26-3.90

-4.203.60

3.04-1.82

0.160.29

6.53-11.82

+/- Category Index

——

——

——

—63

—32

467

% Rank Cat

——

——

——

—750

—769

702671

No. of Funds in Cat


Top Holdings 11-30-2020

Asset A

llocation % 11-30-2020

Net %

Long %Short %

Cash4.69

4.690.00

US Stocks93.89

93.890.00

Non-US Stocks

1.431.43

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM26.8

0.951.29

P/C Ratio TTM12.3

0.751.26

P/B Ratio TTM2.4

0.611.00

Geo Avg Mkt Cap

$mil

32190.02

0.75

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

100.01.01

Greater Europe0.0

0.00Greater Asia

0.00.00


ShareAm


e,53%

Turnover Ratio

Net Assets%

T12 m

ilM

organ Stanley InstlLqdty TrsSecs4.69

Y66,506

ASGN Inc

1.98

T151,323

Envista Holdings Corp Ordinary Sha1.71

Y79,517

Terminix Global Holdings Inc

1.4858,781

Houlihan Lokey Inc Class A1.45

85,231Perform

ance Food Group Co1.41

Y124,471

ON Sem

iconductor Corp1.36

49,546W

NS (Holdings) Ltd ADR

1.33

Y72,204

Darling Ingredients Inc1.33

37,112Science Applications International

1.31

20,855Valm

ont Industries Inc1.29

Y35,299

Catalent Inc1.29

Y50,262

Semtech Corp

1.29

T49,904

Syneos Health Inc A1.25

Y71,841

Perficient Inc1.24

Sector Weightings


hCyclical

44.71.46

rBasic M

aterials8.2

3.61t

Consumer Cyclical

15.81.27

yFinancial Services

17.41.29

uReal Estate

3.21.33

jSensitive

37.40.81

iCom

munication Services

2.20.21

oEnergy

3.11.34

pIndustrials

13.01.48

aTechnology

19.10.79

kD

efensive18.0

0.77

sConsum

er Defensive4.2

0.61d

Healthcare11.3

0.83f

Utilities2.5

0.90

Operations

Family:

Hartford Mutual Funds

Manager:

Robert KaynorTenure:

3.0 YearsObjective:

Growth

Base Currency:USD

Ticker:SCURX

ISIN:

US41665H2682M

inimum


il


Incept:09-28-2015

Type:M

FTotal Assets:

$295.37 mil


ore information.

©2021 M
























ß®

79

MFS Intl Diversification R6 Fund Fact Sheet

MDIZX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations MDIZX +/- Category

Materials 7.9% 0.1%





Industrials 15.6% 1.0%



Energy 1.9% -1.2%


Utilities 2.3% -0.9% 0.0% 92.3%

Other 0.0% 0.0% 0.0% 0.0%

3.1%

16.0%

3.3%

0.0%

N/A (Fund of Funds)

$38,068

24.55

2.45

2.04% -0.41%

0.52

3.44

-$11,509

-

14.7%

2.4%

11.9%

11.2%

2.42 Years

Category

7.9%

7.1%

10.3%

12.2%

+/- CategoryMDIZX

Sm

all

Lar

geM

id

MFS Intl Diversification R6

Camille Humphries Lee

$32,972,860,556

10/2/2017

0.750%

MDIZX

US Fund Foreign Large Blend

MSCI ACWI Ex USA NR USD

13.6%15.4% 15.4%

9.0%11.6%

7.7%

17.0%

10.7% 10.7%

4.9%

8.9%

4.9%


MDIZX Benchmark

15.4%

26.1%

-10.9%

30.2%

2.5% 0.1%

10.7%

21.5%

-14.2%

27.2%

4.5%

-5.7%

2020 2019 2018 2017 2016 2015

MDIZX Benchmark

80

MFS Intl Diversification R6 Fund Fact Sheet

MDIZX Data as of 12/31/2020


13.65% 15.43% 15.43% 9.04% 11.59% 7.70% 4Q20 3Q20 2Q20 1Q20

17.01% 10.65% 10.65% 4.88% 8.93% 4.92% 13.65% 7.97% 17.21% -19.74%

+/- Benchmark -3.37% 4.78% 4.78% 4.16% 2.66% 2.78% 17.01% 6.25% 16.12% -23.36%

Peer Group Rank 80 18 18 5 2 4 +/- Benchmark -3.37% 1.72% 1.09% 3.61%


15.43% 26.09% -10.92% 30.25% 2.47% 0.11% 4Q19 3Q19 2Q19 1Q19

10.65% 21.51% -14.20% 27.19% 4.50% -5.66% 9.37% -1.15% 4.11% 12.02%

+/- Benchmark 4.78% 4.58% 3.27% 3.05% -2.03% 5.77% 8.92% -1.80% 2.98% 10.31%

Peer Group Rank 18 19 10 9 30 35 +/- Benchmark 0.45% 0.65% 1.13% 1.71%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


11.59% 9.57% 5.98% 2.79% 8.46% 6.04% -11.72% 1.31% -0.25% -0.15%

8.93% 6.23% 2.26% -0.64% 5.51% 2.90% -11.46% 0.71% -2.61% -1.18%

+/- Benchmark 2.66% 3.34% 3.71% 3.43% 2.95% 3.14% +/- Benchmark -0.26% 0.61% 2.36% 1.03%




Alpha 4.17 0.00 3.32 0.00 3.09 0.00 5.00% 6.16% 5.78% 7.86%

Beta 0.88 1.00 0.87 1.00 0.87 1.00 +/- Benchmark 0.82% -1.39% 2.99% 0.13%


Sharpe Ratio 0.52 0.27 0.78 0.56 0.57 0.35


Treynor Ratio 8.57 3.36 11.98 7.75 8.14 4.31 -4.68% 6.06% 1.10% 0.26%

Upside Capture Ratio 97.56 100.00 96.75 100.00 94.25 100.00 -1.25% 6.91% -0.64% -0.38%

Downside Capture Ratio 80.10 100.00 80.80 100.00 78.44 100.00 +/- Benchmark -3.43% -0.85% 1.74% 0.63%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

81

MFS Intl D

iversification R6(U

SD)

Morningstar A

nalyst RatingTM

„07-20-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQQ

MSCI ACW

I ExUSA N

R USDM

SCI ACWI Ex

USA NR USD

US Fund Foreign LargeBlend

676 US Fund Foreign LargeBlend



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.15

-0.251.31

-11.72-10.92

201912.02

4.11-1.15

9.3726.09

2020-19.74

17.217.97

13.6515.43


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

15.439.04

——

10.23Std 12-31-2020

15.43—

——

10.23Total Return

15.439.04

11.597.70

10.23

+/- Std Index4.78

4.162.66

2.78—

+/- Cat Index4.78

4.162.66

2.78—

% Rank Cat

143

24

No. in Cat

785676

586382


7-day Yield—

—30-day SEC Yield

——



derived from a w


orningstar metrics.






ed, may be w



ance may be low




http://ww

w.m

fs.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.77


5 Yr10 Yr

676 funds586 funds

382 funds

Morningstar Rating

TM5Q

5W5W

Morningstar Risk

-Avg-Avg

LowM


HighHigh

3 Yr5 Yr

10 Yr


13.7513.53

Mean

9.0411.59

7.70Sharpe Ratio

0.520.78

0.57

MPT Statistics


MSCI ACW

I Ex USAGrow

th NR USD

Alpha4.17

-0.57Beta

0.880.96

R-Squared96.91

97.44

12-Month Yield


5.17%

44

74

77

77

77

74

9797

9897

9797

9897

9797

9797

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000

MFS Intl Diversification R6


__

__

__

__

_&

&&

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

——

19.8717.14

21.0723.91

NAV/Price

34.6613.57

-9.1718.39

17.26-3.86

0.112.47

30.25-10.92

26.0915.43

Total Return %

-6.792.42

4.541.56

1.970.00

5.77-2.03

3.053.27

4.584.78

+/- Standard Index

-6.792.42

4.541.56

1.970.00

5.77-2.03

3.053.27

4.584.78

+/- Category Index

——

——

——

——

—15

1014

% Rank Cat

——

——

——

——

—741

732785

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash1.90

3.191.29

US Stocks4.61

4.610.00

Non-US Stocks

93.4993.49

0.00Bonds

0.000.00

0.00Other/N

ot Clsfd0.00

0.000.00

Total100.00

101.291.29

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM24.5

1.201.16

P/C Ratio TTM14.2

1.381.31

P/B Ratio TTM2.5

1.361.27

Geo Avg Mkt Cap

$mil

380680.86

0.77

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

—Avg Eff Duration

—Avg W

td Coupon—

Avg Wtd Price

—

Credit Quality B

reakdown —

Bond %

AAA—

AA—

A—

BBB—

BB—

B—

Below B

—N

R—


Rel Std Index

Americas

10.41.10

Greater Europe48.8

1.15Greater Asia

40.70.85


ShareAm


e,6%

Turnover Ratio

Net Assets%

T399 m

ilM

FS Research International R627.45

T137 m

ilM

fs Emerging M

arkets Equity R617.59

T112 m

ilM

fs International Growth R6

14.98

T92 m

ilM

FS International Intrinsic Value14.97

T397 m

ilM

fs International Large Cap Value14.96

T84 m

ilM

fs International New

Discovery R69.99

Sector Weightings


hCyclical

33.80.83

rBasic M

aterials7.9

0.99t

Consumer Cyclical

9.00.74

yFinancial Services

14.50.80

uReal Estate

2.40.89

jSensitive

41.01.11

iCom

munication Services

8.81.12

oEnergy

1.90.44

pIndustrials

15.61.38

aTechnology

14.61.12

kD

efensive25.2

1.13

sConsum

er Defensive14.4

1.58d

Healthcare8.5

0.86f

Utilities2.3

0.70

Operations

Family:

MFS

Manager:

Camille Lee

Tenure:2.3 Years

Objective:Grow

th

Base Currency:USD

Ticker:M

DIZXISIN

:US5527435441

Minim


$0


Incept:10-02-2017

Type:M

FTotal Assets:

$32,993.35 mil


ore information.

©2021 M
























ß®

82

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84

Sterling Capital Total Return Bond R6 Fund Fact Sheet

STRDX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance






Average Coupon

Sector Allocations STRDX +/- Category

Government 2.1% -25.3%

Municipal 3.9% 3.1% Asset Allocation Morningstar Style Box

Bank Loan 0.0% -0.2% Low IR Sens Mod IR Sens Ext IR Sens

Convertible 1.6% 0.2%

Corporate Bond 40.6% 12.0%



Non-Agency RMBS 0.6% 0.3%

Commercial MBS 12.9% 10.7%

Asset-Backed 10.7% 5.4% 2.0% 0.0%


Other 0.0% -1.6% 5.2% 0.0%

2.1%

5.3%

6.7%

1.6%

9.82%

6.17

8.17

A

3.26% 0.61%

A (Cat Avg.)

0.70

0.54

-36.96%

0.0%

25.4%

0.3%

0.2%

13.08 Years

Category

27.4%

0.9%

1.4%

28.6%

+/- CategorySTRDX

Low

Qu

alH

igh

Qu

al

Med

Qu

al

Sterling Capital Total Return Bond R6

Mark M. Montgomery

$1,751,866,912

2/1/2018

0.350%

STRDX

US Fund Intermediate Core Bond

BBgBarc US Agg Bond TR USD 1.7%

9.3% 9.3%

6.0%5.2%

4.4%

0.7%

7.5% 7.5%

5.3%4.4% 3.8%


STRDX Benchmark

9.3% 9.4%

-0.3%

4.3% 3.8%

0.5%

7.5%8.7%

0.0%

3.5% 2.6%0.5%

2020 2019 2018 2017 2016 2015

STRDX Benchmark

85

Sterling Capital Total Return Bond R6 Fund Fact Sheet

STRDX Data as of 12/31/2020


1.67% 9.35% 9.35% 6.05% 5.24% 4.44% 4Q20 3Q20 2Q20 1Q20

0.67% 7.51% 7.51% 5.34% 4.44% 3.84% 1.67% 1.59% 5.10% 0.73%

+/- Benchmark 1.00% 1.84% 1.84% 0.71% 0.81% 0.60% 0.67% 0.62% 2.90% 3.15%

Peer Group Rank 8 15 15 12 7 11 +/- Benchmark 1.00% 0.97% 2.21% -2.42%


9.35% 9.37% -0.27% 4.33% 3.75% 0.54% 4Q19 3Q19 2Q19 1Q19

7.51% 8.72% 0.01% 3.54% 2.65% 0.55% 0.14% 2.19% 3.53% 3.23%

+/- Benchmark 1.84% 0.65% -0.28% 0.79% 1.10% -0.01% 0.18% 2.27% 3.08% 2.94%

Peer Group Rank 15 19 42 9 12 27 +/- Benchmark -0.04% -0.08% 0.45% 0.29%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


5.24% 4.82% 4.65% 3.31% 3.49% 3.74% 1.06% 0.24% -0.15% -1.40%

4.44% 4.18% 4.30% 3.36% 3.05% 3.38% 1.64% 0.02% -0.16% -1.46%

+/- Benchmark 0.81% 0.64% 0.35% -0.05% 0.44% 0.37% +/- Benchmark -0.57% 0.22% 0.00% 0.06%




Alpha 0.47 0.00 0.76 0.00 0.66 0.00 0.39% 0.85% 1.45% 0.82%

Beta 1.06 1.00 1.01 1.00 0.97 1.00 +/- Benchmark 0.25% 0.17% 0.18% 0.17%


Sharpe Ratio 1.12 1.11 1.16 1.03 1.21 1.10


Treynor Ratio 4.28 3.82 4.04 3.27 3.92 3.23 -2.57% 1.03% 2.63% 2.70%

Upside Capture Ratio 115.14 100.00 113.45 100.00 109.67 100.00 -2.98% 0.46% 2.21% 3.03%

Downside Capture Ratio 119.76 100.00 104.91 100.00 100.21 100.00 +/- Benchmark 0.40% 0.58% 0.42% -0.33%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

86

Sterling Capital Total ReturnB

ond R6 (USD

)M


RatingTM

‰Q

09-30-2020

Overall M

orningstar RatingTM


Morningstar Cat

WWWWW




Core Bond380 US Fund Interm

ediateCore Bond



2nd Qtr3rd Qtr

4th QtrTotal %

2018-1.40

-0.150.24

1.06-0.27

20193.23

3.532.19

0.149.37

20200.73

5.101.59

1.679.35


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

9.35—

——

6.63Std 12-31-2020

9.35—

——

6.63Total Return

9.356.05

5.244.44

6.63

+/- Std Index1.84

0.710.81

0.60—

+/- Cat Index1.84

0.710.81

0.60—

% Rank Cat

109

610

No. in Cat

415380

330252


7-day Yield 01-28-212.53

1—

30-day SEC Yield 12-31-201.73

11.40

1. Contractual waiver; Expires 01-31-2021



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

w.sterlingcapitalfunds.com

.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.37

12b1 Expense %0.00

Net Expense Ratio %

0.35G

ross Expense Ratio %0.58


5 Yr10 Yr

380 funds330 funds

252 funds

Morningstar Rating

TM5W

5W5W

Morningstar Risk

+Avg+Avg

+AvgM


HighHigh

3 Yr5 Yr

10 Yr


3.473.12

Mean

6.055.24

4.44Sharpe Ratio

1.121.16

1.22

MPT Statistics


Alpha0.47

—Beta

1.06—

R-Squared80.95

—

12-Month Yield

2.74%Potential Cap Gains Exp

5.03%

55

55

55

55

55

55

9898

9497

9697

9795

9798

9696

4k 10k

20k

40k

60k80k100k

Investment Style

Fixed-Income

Bond %

Grow

th of $10,000

Sterling Capital Total ReturnBond R618,616Category Average17,722Standard Index16,450

__

__

__

__

__

&&

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

——

—10.22

10.8211.35

NAV/Price

11.707.98

6.736.14

-0.975.99

0.543.75

4.33-0.27

9.379.35

Total Return %

5.771.44

-1.111.93

1.050.03

-0.011.10

0.79-0.28

0.651.84

+/- Standard Index

5.771.44

-1.111.93

1.050.03

-0.011.10

0.79-0.28

0.651.84

+/- Category Index

——

——

——

——

——

1710

% Rank Cat

——

——

——

——

——

430415

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash2.04

2.040.00

US Stocks0.00

0.000.00

Non-US Stocks

0.000.00

0.00Bonds

96.1096.10

0.00Other/N

ot Clsfd1.86

1.860.00

Total100.00

100.000.00

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM—

——

P/C Ratio TTM—

——

P/B Ratio TTM—

——

Geo Avg Mkt Cap

$mil

——

—

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity

8.17Avg Eff Duration

6.17Avg W

td Coupon3.26

Avg Wtd Price

109.55

Credit Quality B

reakdown 12-31-2020

Bond %

AAA52.98

AA6.85

A17.99

BBB21.62

BB0.32

B0.20

Below B

0.04N

R0.00


Rel Std Index

Americas

——

Greater Europe—

—Greater Asia

——


ShareAm


e,60%

Turnover Ratio

Net Assets%

Y28 m

ilFederated Herm

es Treasury Obl IS1.60

Y18 m

ilFederal Hom

e Loan Mortgage Corpora

1.1119 m

ilFORD CREDIT AUTO OW

NER TRUST 1.06%

1.10

Y17 m

ilFederal N

ational Mortgage Associat

1.02

Y18 m

ilFederal N

ational Mortgage Associat

1.02

Y17 m

ilFederal Hom

e Loan Mortgage Corpora

1.0116 m

ilBAN

K 2020-BNK27 2.14%

0.97

Y18 m

ilUnited States Treasury Bonds 1.25%

0.94

Y15 m

ilFnm

a Pass-Thru I 3%0.92

16 mil

SANTAN

DER DRIVE AUTO RECEIVABLES T0.90

Y14 m

ilFnm

a Pass-Thru I 3.5%0.85

Y14 m

ilFnm

a Pass-Thru I 2.5%0.83

13 mil

WELLS FARGO COM

MERCIAL M

ORTGAGE TR0.75

13 mil

Enterprise Fleet Financing, LLC 3.0.75

11 mil

Morgan Stanley Cap I Tst 2018-H3 4

0.75

Sector Weightings


hCyclical

——

rBasic M

aterials—

—t

Consumer Cyclical

——

yFinancial Services

——

uReal Estate

——

jSensitive

——

iCom

munication Services

——

oEnergy

——

pIndustrials

——

aTechnology

——

kD

efensive—

—

sConsum

er Defensive—

—d

Healthcare—

—f

Utilities—

—

Operations

Family:

Sterling Capital FundsM

anager:M

ultipleTenure:

13.0 YearsObjective:

Growth and Incom

e

Base Currency:USD

Ticker:STRDX

ISIN:

US85918D6242M

inimum

Initial Purchase:$0


Incept:02-01-2018

Type:M

FTotal Assets:

$1,750.11 mil


ore information.

©2021 M
























ß®

87

Vanguard Instl Trgt Retire 2020 Instl Fund Fact Sheet

VITWX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VITWX +/- Category

Materials 4.7% 0.4%








Energy 3.0% 0.3%


Utilities 3.0% -0.1% 35.5% 19.9%

Other 0.0% 0.0% 14.4% 0.0%

2.7%

14.6%

3.0%

0.0%

N/A (Fund of Funds)

$61,806

23.82

2.50

1.93% 0.08%

-0.21

-1.18

-$5,655

-

10.7%

5.3%

19.4%

11.9%

5.67 Years

Category

4.3%

8.8%

6.9%

12.5%

+/- CategoryVITWX

Sm

all

Lar

geM

id

Vanguard Instl Trgt Retire 2020 Instl

William A. Coleman;Walter Nejman;

$26,250,404,286

6/26/2015

0.090%

VITWX

US Fund Target-Date 2020

S&P Target Date 2020 TR USD

7.9%

12.1% 12.1%

8.1% 9.1%7.4%

10.2% 10.2%

7.2%8.3% 7.3%


VITWX Benchmark

12.1%

17.7%

-4.2%

14.1%

7.0%10.2%

16.5%

-4.2%

12.8%

7.2%

-0.2%

2020 2019 2018 2017 2016 2015

VITWX Benchmark

88


VITWX Data as of 12/31/2020


7.88% 12.09% 12.09% 8.11% 9.07% - 4Q20 3Q20 2Q20 1Q20

7.37% 10.24% 10.24% 7.18% 8.29% 7.29% 7.88% 4.46% 11.43% -10.74%

+/- Benchmark 0.51% 1.84% 1.84% 0.94% 0.78% - 7.37% 3.74% 10.65% -10.55%

Peer Group Rank 47 36 36 17 17 - +/- Benchmark 0.51% 0.72% 0.79% -0.19%


12.09% 17.69% -4.21% 14.13% 7.04% - 4Q19 3Q19 2Q19 1Q19

10.24% 16.52% -4.16% 12.80% 7.22% -0.19% 4.47% 1.20% 3.22% 7.85%

+/- Benchmark 1.84% 1.17% -0.05% 1.33% -0.18% - 4.19% 1.17% 2.88% 7.45%

Peer Group Rank 36 29 46 19 30 - +/- Benchmark 0.28% 0.03% 0.34% 0.40%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


9.07% 8.01% 6.01% - - - -6.49% 2.40% 0.63% -0.58%

8.29% 7.32% 5.56% 3.34% 6.16% 5.70% -6.49% 2.33% 1.09% -0.92%

+/- Benchmark 0.78% 0.69% 0.45% - - - +/- Benchmark 0.00% 0.06% -0.47% 0.35%

Peer Group Rank 17 11 9 - - -



Alpha 0.68 0.00 0.48 0.00 - 0.00 3.20% 2.81% 2.55% 3.68%

Beta 1.04 1.00 1.04 1.00 - 1.00 +/- Benchmark 0.20% 0.35% 0.22% 0.45%


Sharpe Ratio 0.69 0.62 0.96 0.91 - 0.86


Treynor Ratio 6.35 5.66 7.61 7.12 - 6.67 -0.19% 3.31% 2.00% 1.77%


Downside Capture Ratio 100.82 100.00 101.28 100.00 - 100.00 +/- Benchmark -0.70% 0.53% 0.01% 0.01%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

89

Vanguard Instl Trgt Retire2020 Instl (U

SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2020TR USD

US Fund Target-Date2020

157 US Fund Target-Date2020



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.58

0.632.40

-6.49-4.21

20197.85

3.221.20

4.4717.69

2020-10.74

11.434.46

7.8812.09


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

12.098.11

9.07—

7.54Std 12-31-2020

12.09—

9.07—

7.54Total Return

12.098.11

9.07—

7.54

+/- Std Index-0.74

-0.44-0.68

——

+/- Cat Index-1.23

-0.43-0.13

——

% Rank Cat

4326

21—

No. in Cat

178157

118—


7-day Yield—

—30-day SEC Yield 01-26-21

1.551.55



derived from a w


orningstar metrics.






ed, may be w



ance may be low



month-end, please call 800-662-7447 or visit w

ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

157 funds118 funds

72 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


8.13—

Mean

8.119.07

—Sharpe Ratio

0.690.97

—

MPT Statistics

Standard IndexBest Fit IndexM

orningstarLifetim

e Mod 2030TR USD

Alpha0.54

0.67Beta

0.850.76

R-Squared99.09

99.37

12-Month Yield


16.99%

00

00

00

44

44

45

——

——

——

4142

4447

4850

4k 10k

20k

40k

60k80k100k

Investment Style

Fixed-Income

Bond %

Grow

th of $10,000

Vanguard Instl Trgt Retire2020 Instl15,088Category Average14,211Standard Index15,458

__

__

__

_&

&*

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

19.1920.14

22.5321.03

24.1126.25

NAV/Price

——

——

——

—7.04

14.13-4.21

17.6912.09

Total Return %

——

——

——

—-1.53

-0.530.55

-1.34-0.74

+/- Standard Index

——

——

——

—-0.62

1.34-0.04

-0.04-1.23

+/- Category Index

——

——

——

—25

1540

2643

% Rank Cat

——

——

——

—221

234250

233178

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.67

0.680.00

US Stocks29.17

29.170.00

Non-US Stocks

19.9519.95

0.00Bonds

49.8349.88

0.05Other/N

ot Clsfd0.37

0.370.00

Total100.00

100.050.05

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.95

P/C Ratio TTM12.8

1.040.93

P/B Ratio TTM2.5

1.090.92

Geo Avg Mkt Cap

$mil

618061.39

0.92

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


6.46Avg W

td Coupon2.20

Avg Wtd Price

111.05

Credit Quality B

reakdown 11-30-2020

Bond %

AAA58.35

AA8.76

A13.49

BBB19.41

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.91.03

Greater Europe17.3

0.97Greater Asia

19.70.94


ShareAm

ountHoldings :10,250 Total Stocks , 17,393 Total Fixed-Incom

e,24%

Turnover Ratio

Net Assets%

T670 m

ilVanguard Total Bond M

arket II Idx29.51

Y81 m

ilVanguard Total Stock M

arket Idx I29.32

Y267 m

ilVanguard Total Intl Stock Index Inv

19.91

T141 m

ilVanguard Total Intl Bd Idx Adm

iral™12.63

T88 m

ilVanguard Shrt-Term

Infl-Prot Sec I8.64

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VITW

XISIN

:US92202E7976

Minim


$100 mil


Incept:06-26-2015

Type:M

FTotal Assets:

$26,239.65 mil


©2021 M
























ß®

90


VRIVX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VRIVX +/- Category

Materials 4.7% 0.5%








Energy 3.0% 0.4%


Utilities 3.0% -0.2% 26.7% 24.3%

Other 0.0% 0.0% 13.1% 0.0%

2.6%

14.5%

3.1%

0.0%

N/A (Fund of Funds)

$61,691

23.80

2.50

1.93% 0.07%

-0.23

-1.07

-$8,618

-

10.5%

4.8%

19.6%

12.0%

5.67 Years

Category

4.1%

8.9%

7.1%

12.6%

+/- CategoryVRIVX

Sm

all

Lar

geM

id



$40,379,963,391

6/26/2015

0.090%

VRIVX



9.4%

13.3% 13.3%

8.8%9.9%9.0%

11.2% 11.2%

7.7%9.1%

7.9%


VRIVX Benchmark

13.3%19.7%

-5.0%

15.9%

7.6%11.2%

18.4%

-5.0%

14.6%7.8%

-0.3%

2020 2019 2018 2017 2016 2015

VRIVX Benchmark

91


VRIVX Data as of 12/31/2020


9.36% 13.34% 13.34% 8.81% 9.94% - 4Q20 3Q20 2Q20 1Q20

9.01% 11.22% 11.22% 7.73% 9.08% 7.88% 9.36% 5.17% 13.19% -12.94%

+/- Benchmark 0.36% 2.13% 2.13% 1.08% 0.86% - 9.01% 4.39% 12.25% -12.93%

Peer Group Rank 38 31 31 17 14 - +/- Benchmark 0.36% 0.78% 0.95% -0.01%


13.34% 19.67% -5.02% 15.94% 7.56% - 4Q19 3Q19 2Q19 1Q19

11.22% 18.38% -5.02% 14.55% 7.82% -0.25% 5.25% 1.09% 3.39% 8.79%

+/- Benchmark 2.13% 1.30% 0.00% 1.39% -0.26% - 4.97% 1.04% 2.99% 8.37%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


9.94% 8.66% 6.34% - - - -7.73% 2.80% 0.70% -0.57%

9.08% 7.86% 5.82% 3.32% 6.73% 6.10% -7.81% 2.72% 1.24% -0.93%





Alpha 0.83 0.00 0.57 0.00 - 0.00 3.73% 3.22% 2.79% 4.08%

Beta 1.03 1.00 1.03 1.00 - 1.00 +/- Benchmark 0.08% 0.33% 0.30% 0.54%


Sharpe Ratio 0.65 0.58 0.92 0.86 - 0.82


Treynor Ratio 7.06 6.22 8.50 7.91 - 7.27 0.15% 3.70% 1.96% 1.57%


Downside Capture Ratio 99.64 100.00 100.29 100.00 - 100.00 +/- Benchmark -0.71% 0.59% -0.04% -0.06%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

92


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2025TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.57

0.702.80

-7.73-5.02

20198.79

3.391.09

5.2519.67

2020-12.94

13.195.17

9.3613.34


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

13.348.81

9.94—

8.20Std 12-31-2020

13.34—

9.94—

8.20Total Return

13.348.81

9.94—

8.20

+/- Std Index0.52

0.260.20

——

+/- Cat Index-0.32

-0.060.06

——

% Rank Cat

3723

22—

No. in Cat

214187

151—


7-day Yield—


1.591.59



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

187 funds151 funds

87 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


9.52—

Mean

8.819.94

—Sharpe Ratio

0.660.92

—

MPT Statistics


orningstarLifetim

e Mod 2030TR USD

Alpha0.25

0.41Beta

1.000.90

R-Squared99.43

99.49

12-Month Yield


16.94%

00

00

00

44

44

44

——

——

——

6564

6261

6060

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_&

&*

&*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

19.0720.11

22.8621.17

24.7327.45

NAV/Price

——

——

——

—7.56

15.94-5.02

19.6713.34

Total Return %

——

——

——

—-1.01

1.28-0.27

0.640.52

+/- Standard Index

——

——

——

—-0.83

1.40-0.12

0.31-0.32

+/- Category Index

——

——

——

—20

2338

2037

% Rank Cat

——

——

——

—195

208226

232214

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.28

0.280.00

US Stocks35.28

35.280.00

Non-US Stocks

24.2824.28

0.00Bonds

39.8039.84

0.05Other/N

ot Clsfd0.36

0.360.00

Total100.00

100.050.05

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.7

1.040.93

P/B Ratio TTM2.5

1.080.91

Geo Avg Mkt Cap

$mil

616911.39

0.88

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.11Avg W

td Coupon2.52

Avg Wtd Price

110.22

Credit Quality B

reakdown 11-30-2020

Bond %

AAA51.65

AA10.04

A15.68

BBB22.64

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.81.03

Greater Europe17.4

0.97Greater Asia

19.80.94


ShareAm


e,24%

Turnover Ratio

Net Assets%

Y149 m


arket Idx I35.47

T970 m


arket II Idx27.96

Y496 m


24.23

T194 m


iral™11.43

T14 m


Infl-Prot Sec I0.91

Sector Weightings


hCyclical

35.30.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.29

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VRIVX

ISIN:

US92202E7893M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$40,040.25 mil


©2021 M
























ß®

93


VTTWX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VTTWX +/- Category

Materials 4.7% 0.5%








Energy 3.0% 0.4%


Utilities 3.0% -0.1% 21.2% 27.6%

Other 0.0% 0.0% 10.8% 0.0%

2.6%

14.7%

3.1%

0.0%

N/A (Fund of Funds)

$61,609

23.79

2.50

1.93% 0.11%

-0.26

-1.21

-$6,780

-

10.9%

4.1%

19.7%

12.0%

5.67 Years

Category

4.2%

8.9%

7.0%

12.7%

+/- CategoryVTTWX

Sm

all

Lar

geM

id



$40,580,935,809

6/26/2015

0.090%

VTTWX



10.5%

14.1% 14.1%

9.2%10.6%10.5%

11.9% 11.9%

8.2%9.8%

8.4%


VTTWX Benchmark

14.1%

21.1%

-5.8%

17.6%

8.0%11.9%

20.4%

-6.0%

16.2%

8.3%

-0.3%

2020 2019 2018 2017 2016 2015

VTTWX Benchmark

94


VTTWX Data as of 12/31/2020


10.54% 14.10% 14.10% 9.19% 10.57% - 4Q20 3Q20 2Q20 1Q20

10.52% 11.91% 11.91% 8.19% 9.78% 8.41% 10.54% 5.71% 14.57% -14.77%

+/- Benchmark 0.02% 2.19% 2.19% 1.00% 0.79% - 10.52% 5.02% 13.94% -15.38%



14.10% 21.14% -5.82% 17.57% 7.97% - 4Q19 3Q19 2Q19 1Q19

11.91% 20.38% -5.99% 16.19% 8.35% -0.30% 6.02% 0.87% 3.39% 9.56%

+/- Benchmark 2.19% 0.76% 0.18% 1.38% -0.37% - 5.81% 0.88% 3.09% 9.39%

Peer Group Rank 34 33 35 32 28 - +/- Benchmark 0.21% -0.01% 0.30% 0.17%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


10.57% 9.13% 6.50% - - - -8.85% 3.11% 0.78% -0.56%

9.78% 8.32% 6.02% 3.22% 7.27% 6.48% -9.26% 3.15% 1.40% -0.95%

+/- Benchmark 0.79% 0.81% 0.48% - - - +/- Benchmark 0.41% -0.04% -0.62% 0.38%




Alpha 0.96 0.00 0.72 0.00 - 0.00 4.24% 3.60% 3.01% 4.45%

Beta 1.00 1.00 1.00 1.00 - 1.00 +/- Benchmark 0.02% 0.26% 0.32% 0.64%


Sharpe Ratio 0.62 0.55 0.89 0.82 - 0.79


Treynor Ratio 7.71 6.67 9.39 8.61 - 7.80 0.44% 4.09% 1.88% 1.37%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

95


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2030TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.56

0.783.11

-8.85-5.82

20199.56

3.390.87

6.0221.14

2020-14.77

14.575.71

10.5414.10


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

14.109.19

10.57—

8.62Std 12-31-2020

14.10—

10.57—

8.62Total Return

14.109.19

10.57—

8.62

+/- Std Index1.28

0.640.82

——

+/- Cat Index0.41

0.10-0.02

——

% Rank Cat

4027

29—

No. in Cat

224197

158—


7-day Yield—


1.611.61



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

197 funds158 funds

89 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


10.67—

Mean

9.1910.57

—Sharpe Ratio

0.630.89

—

MPT Statistics


orningstarLifetim

e Mod 2035TR USD

Alpha-0.11

0.86Beta

1.120.87

R-Squared99.45

99.52

12-Month Yield


17.02%

00

00

00

44

44

44

——

——

——

7371

6968

6767

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_*

**

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.9420.05

23.1221.24

25.1228.13

NAV/Price

——

——

——

—7.97

17.57-5.82

21.1414.10

Total Return %

——

——

——

—-0.60

2.91-1.06

2.111.28

+/- Standard Index

——

——

——

—-1.29

0.970.01

-0.100.41

+/- Category Index

——

——

——

—29

2935

2940

% Rank Cat

——

——

——

—221

234239

241224

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.23

0.230.00

US Stocks39.90

39.900.00

Non-US Stocks

27.5827.58

0.00Bonds

32.0032.03

0.04Other/N

ot Clsfd0.30

0.300.00

Total100.00

100.040.04

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.95

P/C Ratio TTM12.7

1.040.93

P/B Ratio TTM2.5

1.080.90

Geo Avg Mkt Cap

$mil

616091.39

0.90

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.21Avg W

td Coupon2.57

Avg Wtd Price

110.08

Credit Quality B

reakdown 11-30-2020

Bond %

AAA50.52

AA10.29

A16.04

BBB23.15

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.71.03

Greater Europe17.5

0.98Greater Asia

19.80.95


ShareAm


e,21%

Turnover Ratio

Net Assets%

Y168 m


arket Idx I40.10

T564 m


27.52

T795 m


arket II Idx22.94

T160 m


iral™9.44

Sector Weightings


hCyclical

35.30.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.29

oEnergy

3.00.90

pIndustrials

11.00.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VTTW

XISIN

:US92202E7711

Minim


$100 mil


Incept:06-26-2015

Type:M

FTotal Assets:

$40,104.66 mil


©2021 M
























ß®

96


VITFX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VITFX +/- Category

Materials 4.7% 0.5%








Energy 3.0% 0.3%


Utilities 3.0% -0.1% 16.2% 30.7%

Other 0.0% 0.0% 8.3% 0.0%

2.7%

14.5%

3.0%

0.0%

N/A (Fund of Funds)

$61,585

23.79

2.50

1.93% 0.08%

-0.21

-0.91

-$6,530

-

10.5%

4.6%

19.7%

12.1%

5.67 Years

Category

4.2%

9.0%

7.0%

12.6%

+/- CategoryVITFX

Sm

all

Lar

geM

id



$37,507,658,774

6/26/2015

0.090%

VITFX



11.6%14.8% 14.8%

9.5%11.2%12.2% 12.8% 12.8%

8.7%10.5%

8.9%


VITFX Benchmark

14.8%

22.6%

-6.6%

19.1%

8.4%12.8%

22.2%

-6.9%

17.8%

8.9%

-0.3%

2020 2019 2018 2017 2016 2015

VITFX Benchmark

97


VITFX Data as of 12/31/2020


11.64% 14.80% 14.80% 9.55% 11.16% - 4Q20 3Q20 2Q20 1Q20

12.20% 12.79% 12.79% 8.67% 10.47% 8.91% 11.64% 6.24% 15.92% -16.51%

+/- Benchmark -0.56% 2.01% 2.01% 0.88% 0.70% - 12.20% 5.70% 15.55% -17.69%

Peer Group Rank 59 37 37 28 31 - +/- Benchmark -0.56% 0.54% 0.38% 1.19%


14.80% 22.56% -6.56% 19.14% 8.39% - 4Q19 3Q19 2Q19 1Q19

12.79% 22.18% -6.88% 17.78% 8.85% -0.35% 6.68% 0.70% 3.45% 10.28%

+/- Benchmark 2.01% 0.39% 0.32% 1.36% -0.46% - 6.61% 0.73% 3.18% 10.27%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


11.16% 9.58% 6.66% - - - -9.95% 3.46% 0.86% -0.56%

10.47% 8.74% 6.17% 3.10% 7.77% 6.82% -10.55% 3.52% 1.52% -0.94%

+/- Benchmark 0.70% 0.84% 0.49% - - - +/- Benchmark 0.59% -0.06% -0.66% 0.39%




Alpha 0.99 0.00 0.81 0.00 - 0.00 4.71% 3.97% 3.22% 4.81%

Beta 0.97 1.00 0.98 1.00 - 1.00 +/- Benchmark -0.11% 0.23% 0.33% 0.74%


Sharpe Ratio 0.60 0.53 0.86 0.79 - 0.77


Treynor Ratio 8.28 7.15 10.22 9.30 - 8.30 0.83% 4.39% 1.84% 1.12%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

98


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2035TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.56

0.863.46

-9.95-6.56

201910.28

3.450.70

6.6822.56

2020-16.51

15.926.24

11.6414.80


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

14.809.55

11.16—

9.03Std 12-31-2020

14.80—

11.16—

9.03Total Return

14.809.55

11.16—

9.03

+/- Std Index1.97

1.001.42

——

+/- Cat Index1.42

0.410.02

——

% Rank Cat

4232

31—

No. in Cat

207184

148—


7-day Yield—


1.631.63



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

184 funds148 funds

84 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


11.79—

Mean

9.5511.16

—Sharpe Ratio

0.600.86

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-0.470.72

Beta1.24

0.94R-Squared

99.3399.53

12-Month Yield


17.93%

00

00

00

44

44

44

——

——

——

8078

7775

7575

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_*

**

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.8220.00

23.3721.30

25.5028.73

NAV/Price

——

——

——

—8.39

19.14-6.56

22.5614.80

Total Return %

——

——

——

—-0.18

4.48-1.81

3.541.97

+/- Standard Index

——

——

——

—-1.68

0.620.25

-0.481.42

+/- Category Index

——

——

——

—27

3230

3842

% Rank Cat

——

——

——

—195

208221

229207

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.21

0.220.00

US Stocks44.33

44.330.00

Non-US Stocks

30.6830.68

0.00Bonds

24.5324.56

0.03Other/N

ot Clsfd0.24

0.240.00

Total100.00

100.030.03

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.7

1.040.94

P/B Ratio TTM2.5

1.080.92

Geo Avg Mkt Cap

$mil

615851.38

0.90

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.22Avg W

td Coupon2.57

Avg Wtd Price

110.08

Credit Quality B

reakdown 11-30-2020

Bond %

AAA50.44

AA10.34

A16.06

BBB23.17

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.71.02

Greater Europe17.5

0.98Greater Asia

19.90.95


ShareAm


e,18%

Turnover Ratio

Net Assets%

Y173 m


arket Idx I44.56

T580 m


30.62

T562 m


arket II Idx17.54

T115 m


iral™7.29

Sector Weightings


hCyclical

35.30.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.29

oEnergy

3.00.90

pIndustrials

11.00.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VITFX

ISIN:

US92202E7638M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$37,037.34 mil


©2021 M
























ß®

99


VIRSX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VIRSX +/- Category

Materials 4.7% 0.5%








Energy 3.0% 0.3%


Utilities 3.0% -0.1% 11.5% 33.5%

Other 0.0% 0.0% 5.7% 0.0%

2.7%

14.5%

3.0%

0.0%

N/A (Fund of Funds)

$61,772

23.81

2.50

1.93% 0.08%

-0.19

-0.88

-$3,736

-

10.6%

4.8%

19.7%

12.1%

5.67 Years

Category

4.2%

9.0%

6.9%

12.5%

+/- CategoryVIRSX

Sm

all

Lar

geM

id



$33,841,468,927

6/26/2015

0.090%

VIRSX



12.8%15.4% 15.4%

9.9%11.7%

13.4% 13.4% 13.4%

9.0%11.0%

9.3%


VIRSX Benchmark

15.4%

23.9%

-7.3%

20.7%

8.8%13.4%

23.4%

-7.4%

18.9%

9.2%

-0.4%

2020 2019 2018 2017 2016 2015

VIRSX Benchmark

100


VIRSX Data as of 12/31/2020


12.78% 15.44% 15.44% 9.86% 11.74% - 4Q20 3Q20 2Q20 1Q20

13.36% 13.37% 13.37% 9.00% 10.95% 9.26% 12.78% 6.77% 17.25% -18.24%

+/- Benchmark -0.58% 2.08% 2.08% 0.87% 0.79% - 13.36% 6.14% 16.66% -19.24%



15.44% 23.93% -7.31% 20.73% 8.81% - 4Q19 3Q19 2Q19 1Q19

13.37% 23.37% -7.41% 18.87% 9.23% -0.40% 7.40% 0.49% 3.46% 11.00%

+/- Benchmark 2.08% 0.57% 0.09% 1.87% -0.42% - 7.15% 0.60% 3.27% 10.82%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


11.74% 10.00% 6.78% - - - -11.04% 3.80% 0.94% -0.55%

10.95% 9.04% 6.28% 3.02% 8.11% 7.06% -11.33% 3.72% 1.64% -0.94%





Alpha 0.88 0.00 0.75 0.00 - 0.00 5.03% 4.21% 3.36% 5.07%

Beta 0.99 1.00 1.00 1.00 - 1.00 +/- Benchmark -0.04% 0.30% 0.42% 0.95%


Sharpe Ratio 0.58 0.52 0.83 0.78 - 0.75


Treynor Ratio 8.47 7.48 10.61 9.78 - 8.65 1.17% 4.74% 1.80% 0.86%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

101


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2040TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.55

0.943.80

-11.04-7.31

201911.00

3.460.49

7.4023.93

2020-18.24

17.256.77

12.7815.44


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

15.449.86

11.74—

9.40Std 12-31-2020

15.44—

11.74—

9.40Total Return

15.449.86

11.74—

9.40

+/- Std Index2.62

1.321.99

——

+/- Cat Index2.35

0.760.26

——

% Rank Cat

4233

27—

No. in Cat

218197

158—


7-day Yield—


1.651.65



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

197 funds158 funds

89 funds

Morningstar Rating

TM3Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


12.93—

Mean

9.8611.74

—Sharpe Ratio

0.580.83

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-0.850.45

Beta1.36

1.03R-Squared

99.1999.57

12-Month Yield


18.16%

00

00

00

44

44

44

——

——

——

8886

8483

8282

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_&

&*

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.6919.94

23.6221.37

25.8829.35

NAV/Price

——

——

——

—8.81

20.73-7.31

23.9315.44

Total Return %

——

——

——

—0.24

6.08-2.56

4.912.62

+/- Standard Index

——

——

——

—-1.80

0.870.34

-0.422.35

+/- Category Index

——

——

——

—23

2334

4042

% Rank Cat

——

——

——

—221

234239

241218

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.20

0.200.00

US Stocks48.95

48.950.00

Non-US Stocks

33.5433.54

0.00Bonds

17.1317.15

0.02Other/N

ot Clsfd0.18

0.180.00

Total100.00

100.020.02

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.8

1.040.94

P/B Ratio TTM2.5

1.090.93

Geo Avg Mkt Cap

$mil

617721.39

0.94

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.20Avg W

td Coupon2.58

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA50.88

AA10.09

A15.94

BBB23.09

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.91.03

Greater Europe17.4

0.97Greater Asia

19.70.94


ShareAm


e,15%

Turnover Ratio

Net Assets%

T172 m


arket Idx I49.20

Y570 m


33.47

T357 m


arket II Idx12.40

T70 m


iral™4.94

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VIRSX

ISIN:

US92202E7554M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$33,378.36 mil


©2021 M
























ß®

102


VITLX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VITLX +/- Category

Materials 4.7% 0.4%








Energy 3.0% 0.4%


Utilities 3.0% -0.1% 6.5% 36.5%

Other 0.0% 0.0% 3.3% 0.0%

2.6%

14.4%

3.0%

0.0%

N/A (Fund of Funds)

$61,840

23.82

2.50

1.93% 0.10%

-0.19

-1.01

-$4,099

-

10.5%

4.7%

19.8%

12.3%

5.67 Years

Category

4.2%

9.0%

6.8%

12.7%

+/- CategoryVITLX

Sm

all

Lar

geM

id



$29,283,678,800

6/26/2015

0.090%

VITLX



13.9%16.2% 16.2%

10.2%12.1%

14.0% 13.7% 13.7%

9.2%11.2%

9.5%


VITLX Benchmark

16.2%

25.1%

-7.9%

21.5%

8.9%13.7%

24.0%

-7.7%

19.6%

9.5%

-0.5%

2020 2019 2018 2017 2016 2015

VITLX Benchmark

103


VITLX Data as of 12/31/2020


13.91% 16.17% 16.17% 10.21% 12.12% - 4Q20 3Q20 2Q20 1Q20

14.02% 13.66% 13.66% 9.15% 11.24% 9.49% 13.91% 7.32% 18.65% -19.90%

+/- Benchmark -0.12% 2.51% 2.51% 1.06% 0.88% - 14.02% 6.44% 17.29% -20.15%



16.17% 25.07% -7.87% 21.47% 8.94% - 4Q19 3Q19 2Q19 1Q19

13.66% 24.02% -7.74% 19.56% 9.54% -0.46% 8.02% 0.32% 3.48% 11.54%

+/- Benchmark 2.51% 1.05% -0.12% 1.90% -0.59% - 7.48% 0.53% 3.32% 11.10%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


12.12% 10.16% 6.82% - - - -11.80% 4.02% 0.97% -0.55%

11.24% 9.23% 6.34% 2.98% 8.32% 7.21% -11.75% 3.81% 1.66% -0.94%

+/- Benchmark 0.88% 0.93% 0.48% - - - +/- Benchmark -0.04% 0.21% -0.69% 0.39%




Alpha 0.87 0.00 0.60 0.00 - 0.00 5.20% 4.35% 3.45% 5.28%

Beta 1.02 1.00 1.02 1.00 - 1.00 +/- Benchmark 0.03% 0.33% 0.37% 0.92%


Sharpe Ratio 0.57 0.52 0.81 0.77 - 0.75


Treynor Ratio 8.54 7.64 10.71 10.07 - 8.87 1.25% 4.85% 1.80% 0.80%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

104


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2045TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.55

0.974.02

-11.80-7.87

201911.54

3.480.32

8.0225.07

2020-19.90

18.657.32

13.9116.17


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

16.1710.21

12.12—

9.74Std 12-31-2020

16.17—

12.12—

9.74Total Return

16.1710.21

12.12—

9.74

+/- Std Index3.35

1.662.37

——

+/- Cat Index3.22

1.180.51

——

% Rank Cat

4030

23—

No. in Cat

207184

148—


7-day Yield—


1.661.66



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

184 funds148 funds

83 funds

Morningstar Rating

TM3Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


13.83—

Mean

10.2112.12

—Sharpe Ratio

0.570.81

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-1.090.30

Beta1.46

1.11R-Squared

99.1299.61

12-Month Yield


17.94%

00

00

00

44

44

44

——

——

——

8988

8888

8990

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_*

&*

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.6919.97

23.8021.41

26.1829.89

NAV/Price

——

——

——

—8.94

21.47-7.87

25.0716.17

Total Return %

——

——

——

—0.37

6.81-3.11

6.053.35

+/- Standard Index

——

——

——

—-1.90

0.940.30

0.103.22

+/- Category Index

——

——

——

—26

2340

3840

% Rank Cat

——

——

——

—195

208221

229207

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks53.40

53.400.00

Non-US Stocks

36.4636.46

0.00Bonds

9.849.85

0.01Other/N

ot Clsfd0.12

0.120.00

Total100.00

100.010.01

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.8

1.040.94

P/B Ratio TTM2.5

1.090.93

Geo Avg Mkt Cap

$mil

618401.39

0.94

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.21Avg W

td Coupon2.57

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA50.49

AA10.31

A16.04

BBB23.16

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

63.01.03

Greater Europe17.3

0.97Greater Asia

19.70.94


ShareAm


e,12%

Turnover Ratio

Net Assets%

T162 m


arket Idx I53.67

T536 m


36.37

T176 m


arket II Idx7.04

T36 m


iral™2.91

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.90t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VITLX

ISIN:

US92202E7489M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$28,834.67 mil


©2021 M
























ß®

105


VTRLX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VTRLX +/- Category

Materials 4.7% 0.4%








Energy 3.0% 0.3%


Utilities 3.0% -0.1% 5.9% 36.7%

Other 0.0% 0.0% 3.2% 0.0%

2.7%

14.4%

3.1%

0.0%

N/A (Fund of Funds)

$61,919

23.83

2.50

1.93% 0.13%

-0.19

-1.12

-$2,828

-

10.6%

4.7%

19.8%

12.3%

5.67 Years

Category

4.3%

8.9%

6.5%

12.7%

+/- CategoryVTRLX

Sm

all

Lar

geM

id



$23,085,965,751

6/26/2015

0.090%

VTRLX



14.0%16.3% 16.3%

10.3%12.1%

14.4% 13.9% 13.9%

9.2%11.4%

9.7%


VTRLX Benchmark

16.3%

25.1%

-7.9%

21.5%

8.9%13.9%

24.4%

-7.9%

20.2%

9.7%

-0.5%

2020 2019 2018 2017 2016 2015

VTRLX Benchmark

106


VTRLX Data as of 12/31/2020


14.03% 16.33% 16.33% 10.26% 12.14% - 4Q20 3Q20 2Q20 1Q20

14.40% 13.86% 13.86% 9.24% 11.44% 9.67% 14.03% 7.34% 18.61% -19.87%

+/- Benchmark -0.38% 2.47% 2.47% 1.02% 0.70% - 14.40% 6.53% 17.61% -20.56%



16.33% 25.05% -7.87% 21.47% 8.95% - 4Q19 3Q19 2Q19 1Q19

13.86% 24.35% -7.94% 20.18% 9.74% -0.47% 8.02% 0.32% 3.47% 11.52%

+/- Benchmark 2.47% 0.70% 0.07% 1.29% -0.79% - 7.65% 0.47% 3.32% 11.28%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


12.14% 10.16% 6.82% - - - -11.79% 4.01% 0.97% -0.55%

11.44% 9.41% 6.42% 3.01% 8.49% 7.34% -12.05% 3.87% 1.72% -0.94%





Alpha 0.95 0.00 0.64 0.00 - 0.00 5.34% 4.43% 3.54% 5.51%

Beta 1.00 1.00 1.00 1.00 - 1.00 +/- Benchmark -0.14% 0.24% 0.33% 0.69%


Sharpe Ratio 0.57 0.51 0.81 0.77 - 0.74


Treynor Ratio 8.76 7.72 10.98 10.27 - 9.06 1.26% 4.79% 1.80% 0.86%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

107


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2050TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.55

0.974.01

-11.79-7.87

201911.52

3.470.32

8.0225.05

2020-19.87

18.617.34

14.0316.33


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

16.3310.26

12.14—

9.76Std 12-31-2020

16.33—

12.14—

9.76Total Return

16.3310.26

12.14—

9.76

+/- Std Index3.51

1.712.40

——

+/- Cat Index3.42

1.300.52

——

% Rank Cat

3933

27—

No. in Cat

217196

157—


7-day Yield—


1.661.66



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

196 funds157 funds

78 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


13.84—

Mean

10.2612.14

—Sharpe Ratio

0.570.81

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-1.060.33

Beta1.46

1.11R-Squared

99.1299.61

12-Month Yield


16.49%

00

00

00

44

44

44

——

——

——

8988

8888

8991

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_*

**

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.6919.98

23.8221.44

26.2229.97

NAV/Price

——

——

——

—8.95

21.47-7.87

25.0516.33

Total Return %

——

——

——

—0.38

6.81-3.11

6.033.51

+/- Standard Index

——

——

——

—-1.94

0.690.54

-0.033.42

+/- Category Index

——

——

——

—28

3334

4339

% Rank Cat

——

——

——

—213

230239

241217

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks53.95

53.950.00

Non-US Stocks

36.6736.67

0.00Bonds

9.079.08

0.01Other/N

ot Clsfd0.12

0.120.00

Total100.00

100.010.01

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.95

P/C Ratio TTM12.8

1.040.94

P/B Ratio TTM2.5

1.090.93

Geo Avg Mkt Cap

$mil

619191.39

0.96

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.25Avg W

td Coupon2.56

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA49.66

AA10.76

A16.27

BBB23.31

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

63.11.03

Greater Europe17.3

0.97Greater Asia

19.70.94


ShareAm


e,12%

Turnover Ratio

Net Assets%

T128 m


arket Idx I54.23

T423 m


36.59

T123 m


arket II Idx6.32

T27 m


iral™2.87

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.90t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.19

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VTRLX

ISIN:

US92202E7307M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$22,604.73 mil


©2021 M
























ß®

108


VIVLX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VIVLX +/- Category

Materials 4.7% 0.3%








Energy 3.0% 0.2%


Utilities 3.0% -0.1% 6.0% 36.5%

Other 0.0% 0.0% 3.1% 0.0%

2.8%

14.1%

3.0%

0.0%

N/A (Fund of Funds)

$62,093

23.85

2.51

1.92% 0.12%

-0.24

-1.26

-$4,230

-

10.3%

4.5%

19.7%

12.2%

5.67 Years

Category

4.4%

9.3%

6.5%

13.3%

+/- CategoryVIVLX

Sm

all

Lar

geM

id



$12,907,888,709

6/26/2015

0.090%

VIVLX



14.0%16.4% 16.4%

10.3%12.2%

14.6% 13.9% 13.9%

9.3%11.6%

9.8%


VIVLX Benchmark

16.4%

25.1%

-7.8%

21.5%

8.9%13.9%

24.5%

-8.0%

20.5%

9.9%

-0.5%

2020 2019 2018 2017 2016 2015

VIVLX Benchmark

109


VIVLX Data as of 12/31/2020


14.02% 16.36% 16.36% 10.28% 12.16% - 4Q20 3Q20 2Q20 1Q20

14.56% 13.86% 13.86% 9.26% 11.55% 9.82% 14.02% 7.35% 18.63% -19.87%

+/- Benchmark -0.54% 2.50% 2.50% 1.02% 0.60% - 14.56% 6.62% 17.76% -20.84%



16.36% 25.06% -7.84% 21.47% 8.94% - 4Q19 3Q19 2Q19 1Q19

13.86% 24.48% -7.97% 20.48% 9.94% -0.54% 8.03% 0.28% 3.50% 11.53%

+/- Benchmark 2.50% 0.58% 0.14% 1.00% -0.99% - 7.73% 0.46% 3.34% 11.31%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


12.16% 10.17% 6.83% - - - -11.76% 4.01% 0.97% -0.54%

11.55% 9.50% 6.45% 3.02% 8.58% 7.41% -12.10% 3.88% 1.70% -0.91%





Alpha 1.01 0.00 0.65 0.00 - 0.00 5.38% 4.48% 3.57% 5.65%

Beta 0.99 1.00 0.99 1.00 - 1.00 +/- Benchmark -0.20% 0.23% 0.24% 0.60%


Sharpe Ratio 0.57 0.51 0.82 0.77 - 0.75


Treynor Ratio 8.87 7.74 11.12 10.38 - 9.21 1.25% 4.79% 1.80% 0.86%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

110


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2055TR USD





2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.54

0.974.01

-11.76-7.84

201911.53

3.500.28

8.0325.06

2020-19.87

18.637.35

14.0216.36


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

16.3610.28

12.16—

9.77Std 12-31-2020

16.36—

12.16—

9.77Total Return

16.3610.28

12.16—

9.77

+/- Std Index3.54

1.732.41

——

+/- Cat Index3.46

1.390.55

——

% Rank Cat

3932

31—

No. in Cat

207184

145—


7-day Yield—


1.661.66



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

184 funds145 funds

44 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


13.83—

Mean

10.2812.16

—Sharpe Ratio

0.570.82

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-1.040.35

Beta1.46

1.11R-Squared

99.1399.61

12-Month Yield


14.11%

00

00

00

44

44

44

——

——

——

8988

8888

8991

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_*

**

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.6920.00

23.8621.50

26.3230.05

NAV/Price

——

——

——

—8.94

21.47-7.84

25.0616.36

Total Return %

——

——

——

—0.37

6.82-3.08

6.033.54

+/- Standard Index

——

——

——

—-1.96

0.520.73

0.013.46

+/- Category Index

——

——

——

—27

4332

4739

% Rank Cat

——

——

——

—193

206221

229207

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks54.12

54.120.00

Non-US Stocks

36.4536.45

0.00Bonds

9.139.14

0.01Other/N

ot Clsfd0.12

0.120.00

Total100.00

100.010.01

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.95

P/C Ratio TTM12.8

1.040.94

P/B Ratio TTM2.5

1.090.91

Geo Avg Mkt Cap

$mil

620931.40

0.94

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.23Avg W

td Coupon2.57

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA50.18

AA10.48

A16.13

BBB23.21

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

63.31.03

Greater Europe17.2

0.96Greater Asia

19.50.93


ShareAm


e,10%

Turnover Ratio

Net Assets%

T72 m


arket Idx I54.40

T234 m


36.36

T70 m


arket II Idx6.47

T15 m


iral™2.77

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.90t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.21.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.19

kD

efensive22.6

0.95

sConsum

er Defensive7.3

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VIVLX

ISIN:

US92202E7224M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$12,569.07 mil


©2021 M
























ß®

111


VILVX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VILVX +/- Category

Materials 4.7% 0.3%








Energy 3.0% 0.1%


Utilities 3.0% 0.0% 6.3% 36.5%

Other 0.0% 0.0% 2.9% 0.0%

2.9%

14.3%

2.9%

0.0%

N/A (Fund of Funds)

$62,008

23.84

2.51

1.92% 0.08%

-0.19

-0.90

-$4,488

-

10.5%

4.1%

19.6%

12.1%

5.67 Years

Category

4.3%

9.4%

7.0%

13.0%

+/- CategoryVILVX

Sm

all

Lar

geM

id



$4,931,911,077

6/26/2015

0.090%

VILVX

US Fund Target-Date 2060+

S&P Target Date 2060+ TR USD

14.0%16.4% 16.4%

10.3%12.2%

14.6% 14.0% 14.0%

9.4%11.7%

9.9%


VILVX Benchmark

16.4%

25.1%

-7.9%

21.4%

8.9%14.0%

24.7%

-7.9%

20.7%

10.1%

-0.7%

2020 2019 2018 2017 2016 2015

VILVX Benchmark

112


VILVX Data as of 12/31/2020


14.02% 16.40% 16.40% 10.30% 12.16% - 4Q20 3Q20 2Q20 1Q20

14.56% 13.99% 13.99% 9.38% 11.71% 9.88% 14.02% 7.38% 18.66% -19.88%

+/- Benchmark -0.53% 2.41% 2.41% 0.91% 0.45% - 14.56% 6.61% 17.93% -20.86%



16.40% 25.13% -7.88% 21.42% 8.94% - 4Q19 3Q19 2Q19 1Q19

13.99% 24.73% -7.95% 20.75% 10.08% -0.66% 8.04% 0.32% 3.50% 11.53%

+/- Benchmark 2.41% 0.40% 0.07% 0.67% -1.13% - 7.81% 0.45% 3.37% 11.42%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


12.16% 10.17% 6.82% - - - -11.80% 4.05% 0.93% -0.54%

11.71% 9.67% 6.58% 3.11% 8.68% 7.49% -12.22% 3.97% 1.77% -0.90%





Alpha 0.92 0.00 0.55 0.00 - 0.00 5.47% 4.51% 3.59% 5.75%

Beta 0.99 1.00 0.98 1.00 - 1.00 +/- Benchmark -0.31% 0.16% 0.27% 0.46%


Sharpe Ratio 0.57 0.52 0.81 0.78 - 0.75


Treynor Ratio 8.90 7.87 11.16 10.54 - 9.27 1.25% 4.85% 1.81% 0.80%





5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

113


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2060TR USD

US Fund Target-Date2060+

181 US Fund Target-Date2060+



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.54

0.934.05

-11.80-7.88

201911.53

3.500.32

8.0425.13

2020-19.88

18.667.38

14.0216.40


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

16.4010.30

12.16—

9.77Std 12-31-2020

16.40—

12.16—

9.77Total Return

16.4010.30

12.16—

9.77

+/- Std Index3.58

1.752.41

——

+/- Cat Index3.51

1.490.59

——

% Rank Cat

3934

40—

No. in Cat

257181

93—


7-day Yield—


1.661.66



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

181 funds93 funds

—

Morningstar Rating

TM4Q

3Q—

Morningstar Risk

-AvgAvg

—M


Avg—

3 Yr5 Yr

10 Yr


13.87—

Mean

10.3012.16

—Sharpe Ratio

0.570.81

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-1.040.35

Beta1.46

1.11R-Squared

99.1199.61

12-Month Yield


12.09%

00

00

00

44

44

44

——

——

——

8988

8888

8990

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

_&

**

(*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

18.6819.99

23.8621.50

26.3630.14

NAV/Price

——

——

——

—8.94

21.42-7.88

25.1316.40

Total Return %

——

——

——

—0.37

6.76-3.12

6.103.58

+/- Standard Index

——

——

——

—-1.93

0.360.81

0.173.51

+/- Category Index

——

——

——

—20

4836

5439

% Rank Cat

——

——

——

—106

160201

216257

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks53.98

53.980.00

Non-US Stocks

36.5336.53

0.00Bonds

9.199.20

0.01Other/N

ot Clsfd0.12

0.120.00

Total100.00

100.010.01

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.8

1.040.95

P/B Ratio TTM2.5

1.090.93

Geo Avg Mkt Cap

$mil

620081.39

0.93

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.17Avg W

td Coupon2.59

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA51.54

AA9.73

A15.76

BBB22.97

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

63.21.03

Greater Europe17.2

0.96Greater Asia

19.60.94


ShareAm


e,9%

Turnover Ratio

Net Assets%

T27 m


arket Idx I54.26

T89 m


36.44

T28 m


arket II Idx6.81

T5 m


iral™2.48

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.90t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.19

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VILVX

ISIN:

US92202E7141M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$4,785.95 mil


©2021 M
























ß®

114


VSXFX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance




P/E Ratio (TTM)

P/B Ratio (TTM)

Est. Dividend Yield

Sector Allocations VSXFX +/- Category

Materials 4.7% 0.3%








Energy 3.0% 0.1%


Utilities 3.0% 0.0% 6.4% 36.4%

Other 0.0% 0.0% 3.1% 0.0%

2.9%

14.3%

2.9%

0.0%

N/A (Fund of Funds)

$62,053

23.84

2.51

1.92% 0.08%

-0.19

-0.90

-$4,442

-

10.5%

4.1%

19.6%

12.1%

3.58 Years

Category

4.3%

9.4%

7.0%

13.0%

+/- CategoryVSXFX

Sm

all

Lar

geM

id



$681,587,178

7/12/2017

0.090%

VSXFX

US Fund Target-Date 2060+

S&P Target Date 2060+ TR USD

14.0%16.2% 16.2%

10.2%

14.6% 14.0% 14.0%

9.4%11.7%

9.9%


VSXFX Benchmark

16.2%

25.1%

-7.8%

14.0%

24.7%

-7.9%

20.7%

10.1%

-0.7%

2020 2019 2018 2017 2016 2015

VSXFX Benchmark

115


VSXFX Data as of 12/31/2020


14.01% 16.18% 16.18% 10.25% - - 4Q20 3Q20 2Q20 1Q20

14.56% 13.99% 13.99% 9.38% 11.71% 9.88% 14.01% 7.38% 18.64% -20.01%

+/- Benchmark -0.55% 2.19% 2.19% 0.86% - - 14.56% 6.61% 17.93% -20.86%

Peer Group Rank 71 44 44 32 - - +/- Benchmark -0.55% 0.76% 0.72% 0.85%


16.18% 25.15% -7.84% - - - 4Q19 3Q19 2Q19 1Q19

13.99% 24.73% -7.95% 20.75% 10.08% -0.66% 8.01% 0.31% 3.56% 11.55%

+/- Benchmark 2.19% 0.42% 0.11% - - - 7.81% 0.45% 3.37% 11.42%

Peer Group Rank 44 48 26 - - - +/- Benchmark 0.19% -0.15% 0.19% 0.13%

01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


- - - - - - -11.78% 3.94% 0.97% -0.46%

11.71% 9.67% 6.58% 3.11% 8.68% 7.49% -12.22% 3.97% 1.77% -0.90%

+/- Benchmark - - - - - - +/- Benchmark 0.44% -0.04% -0.80% 0.44%

Peer Group Rank - - - - - -


Manager Benchmark Manager Benchmark Manager Benchmark 5.23% - - -

Alpha 0.88 0.00 - 0.00 - 0.00 5.47% 4.51% 3.59% 5.75%

Beta 0.99 1.00 - 1.00 - 1.00 +/- Benchmark -0.24% - - -

Standard Deviation 17.03 17.24 - 14.05 - 12.89

Sharpe Ratio 0.57 0.52 - 0.78 - 0.75

Information Ratio 0.97 - - - - - 4Q16 3Q16 2Q16 1Q16

Treynor Ratio 8.85 7.87 - 10.54 - 9.27 - - - -

Upside Capture Ratio 100.26 100.00 - 100.00 - 100.00 2.40% 4.36% 1.89% 1.09%

Downside Capture Ratio 96.24 100.00 - 100.00 - 100.00 +/- Benchmark - - - -



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

116


SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od 2060TR USD

US Fund Target-Date2060+

181 US Fund Target-Date2060+



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.46

0.973.94

-11.78-7.84

201911.55

3.560.31

8.0125.15

2020-20.01

18.647.38

14.0116.18


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

16.1810.25

——

11.66Std 12-31-2020

16.18—

——

11.66Total Return

16.1810.25

——

11.66

+/- Std Index3.36

1.70—

——

+/- Cat Index3.29

1.44—

——

% Rank Cat

4538

——

No. in Cat

257181

——


7-day Yield—


1.661.66



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

181 funds93 funds

—

Morningstar Rating

TM3Q

——

Morningstar Risk

-Avg—

—M


——

3 Yr5 Yr

10 Yr


——

Mean

10.25—

—Sharpe Ratio

0.57—

—

MPT Statistics


Morningstar M

odAgg Tgt Risk TR

USDAlpha

-1.090.30

Beta1.47

1.11R-Squared

99.1499.63

12-Month Yield


9.02%

00

00

00

00

00

04

——

——

——

——

——

—90

4k 10k

20k

40k

60k80k100k

Investment Style

EquityStocks %

Grow

th of $10,000


__

__

__

__

_*

(*

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

——

21.7219.66

24.1427.59

NAV/Price

——

——

——

——

—-7.84

25.1516.18

Total Return %

——

——

——

——

—-3.08

6.123.36

+/- Standard Index

——

——

——

——

—0.85

0.193.29

+/- Category Index

——

——

——

——

—30

5245

% Rank Cat

——

——

——

——

—201

216257

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash0.19

0.190.00

US Stocks53.85

53.850.00

Non-US Stocks

36.3536.35

0.00Bonds

9.509.51

0.01Other/N

ot Clsfd0.12

0.120.00

Total100.00

100.010.01

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.96

P/C Ratio TTM12.8

1.040.95

P/B Ratio TTM2.5

1.090.93

Geo Avg Mkt Cap

$mil

620531.40

0.93

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


7.18Avg W

td Coupon2.58

Avg Wtd Price

—

Credit Quality B

reakdown 11-30-2020

Bond %

AAA51.25

AA9.89

A15.84

BBB23.02

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

63.21.03

Greater Europe17.2

0.96Greater Asia

19.60.93


ShareAm


e,14%

Turnover Ratio

Net Assets%

T4 m


arket Idx I54.13

T12 m


36.26

T4 m


arket II Idx6.98

T727,956

Vanguard Total Intl Bd Idx Admiral™

2.64

Sector Weightings


hCyclical

35.20.92

rBasic M

aterials4.7

0.90t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.30

oEnergy

3.00.90

pIndustrials

10.90.95

aTechnology

19.01.19

kD

efensive22.6

0.95

sConsum

er Defensive7.3

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

3.5 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VSXFX

ISIN:

US92202E6721M

inimum


il


Incept:07-12-2017

Type:M

FTotal Assets:

$653.71 mil


©2021 M
























ß®

117

Voya Government Money Market A Fund Fact Sheet

VYAXX Data as of 12/31/2020


Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance






Average Coupon

Sector Allocations VYAXX +/- Category










Asset-Backed 0.0% 0.0% 90.8% 0.0%

Cash & Equivalents 90.8% 5.4% 9.2% 0.0%

Other 0.0% 0.0% 0.0% 0.0%

0.0%

0.0%

85.4%

0.0%

89.12%

-

-

-

- -

-

-

-

83.23%

0.0%

0.0%

0.0%

0.0%

16.25 Years

Category

10.7%

0.5%

0.2%

3.2%

+/- CategoryVYAXX

Low

Qu

alH

igh

Qu

alM

ed Q

ual

Voya Government Money Market A

David S. Yealy

$226,543,088

4/15/1994

0.410%

VYAXX

US Fund Money Market - Taxable

USTREAS Stat US T-Bill 90 Day TR

0.0%0.3% 0.3%

1.2%

0.8%

0.4%

0.0%0.4% 0.4%

1.5%1.1%

0.6%


VYAXX Benchmark

0.3%

1.9%1.5%

0.3% 0.1% 0.0%0.4%

2.1% 1.9%

0.9%

0.3%0.1%

2020 2019 2018 2017 2016 2015

VYAXX Benchmark

118




0.00% 0.27% 0.27% 1.22% 0.80% 0.41% 4Q20 3Q20 2Q20 1Q20

0.02% 0.36% 0.36% 1.45% 1.12% 0.59% 0.00% 0.00% 0.02% 0.25%

+/- Benchmark -0.02% -0.09% -0.09% -0.23% -0.32% -0.18% 0.02% 0.03% 0.04% 0.28%



0.27% 1.88% 1.51% 0.26% 0.08% 0.02% 4Q19 3Q19 2Q19 1Q19

0.36% 2.06% 1.94% 0.93% 0.32% 0.05% 0.32% 0.50% 0.53% 0.52%

+/- Benchmark -0.09% -0.18% -0.43% -0.67% -0.24% -0.03% 0.39% 0.49% 0.57% 0.59%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


0.80% 0.80% 0.80% 0.80% 0.75% 0.68% 0.47% 0.40% 0.35% 0.27%

1.12% 1.12% 1.12% 1.11% 1.06% 0.98% 0.57% 0.51% 0.46% 0.39%

+/- Benchmark -0.32% -0.32% -0.32% -0.31% -0.31% -0.29% +/- Benchmark -0.10% -0.10% -0.11% -0.12%

Peer Group Rank 50 50 50 51 51 49



Alpha -0.14 0.00 -0.30 0.00 -0.10 0.00 0.30% 0.26% 0.22% 0.15%

Beta 2.33 1.00 1.37 1.00 3.79 1.00 +/- Benchmark -0.17% -0.17% -0.18% -0.14%


Sharpe Ratio -4.93 -5.60 -4.94 -4.75 -2.81 -2.52


Treynor Ratio -0.13 -0.07 -0.27 -0.05 -0.05 -0.03 0.01% 0.07% 0.00% 0.00%


Downside Capture Ratio - - - - - - +/- Benchmark -0.09% -0.01% -0.06% -0.07%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

119

Vanguard Instl Trgt RetireInc Instl (U

SD)

Morningstar A

nalyst RatingTM

„03-13-2020

Overall M

orningstar RatingTM


Morningstar Cat

QQQQ

Morningstar M

odTgt Risk TR USD

Morningstar

Lifetime M

od IncmTR USD

US Fund Target-DateRetirem

ent148 US Fund Target-DateRetirem

ent



2nd Qtr3rd Qtr

4th QtrTotal %

2018-0.52

0.451.34

-3.21-1.98

20195.58

2.911.49

2.6613.20

2020-5.88

7.953.08

5.1910.18


3 Yr5 Yr

10 YrIncept

Load-adj Mthly

10.186.93

6.92—

6.01Std 12-31-2020

10.18—

6.92—

6.01Total Return

10.186.93

6.92—

6.01

+/- Std Index-2.65

-1.62-2.83

——

+/- Cat Index-0.38

-0.07-0.18

——

% Rank Cat

3021

30—

No. in Cat

168148

126—


7-day Yield—


1.461.46



derived from a w


orningstar metrics.






ed, may be w



ance may be low




ww

.vanguard.com.


Front-End Load %N

AD

eferred Load %N

A

Fund Expenses

Managem

ent Fees %0.00

12b1 Expense %N

AN



0.09


5 Yr10 Yr

148 funds126 funds

84 funds

Morningstar Rating

TM4Q

4Q—

Morningstar Risk

AvgAvg

—M


+Avg—

3 Yr5 Yr

10 Yr


5.11—

Mean

6.936.92

—Sharpe Ratio

0.861.10

—

MPT Statistics


orningstarLifetim

e Mod 2015TR USD

Alpha1.50

0.68Beta

0.530.71

R-Squared95.09

98.74

12-Month Yield


12.29%

00

00

00

44

44

44

——

——

——

6867

6769

6768

4k 10k

20k

40k

60k80k100k

Investment Style

Fixed-Income

Bond %

Grow

th of $10,000

Vanguard Instl Trgt Retire IncInstl13,839Category Average13,303Standard Index15,458

__

__

__

_*

(&

**

Performance Q

uartile(w

ithin category)

20092010

20112012

20132014

20152016

20172018

201912-20

History

——

——

——

19.6020.23

21.5020.51

22.6224.33

NAV/Price

——

——

——

—5.29

8.54-1.98

13.2010.18

Total Return %

——

——

——

—-3.28

-6.122.77

-5.82-2.65

+/- Standard Index

——

——

——

—-0.70

-0.010.22

-0.07-0.38

+/- Category Index

——

——

——

—40

5918

4530

% Rank Cat

——

——

——

—171

175187

183168

No. of Funds in Cat


Asset A

llocation %N

et %Long %

Short %

Cash1.10

1.110.01

US Stocks18.02

18.020.00

Non-US Stocks

12.4612.46

0.00Bonds

67.9668.02

0.06Other/N

ot Clsfd0.45

0.450.00

Total100.00

100.070.07

Equity Style

ValueBlend

Growth

LargeMidSmall


RelIndex

RelCat

P/E Ratio TTM23.8

1.040.98

P/C Ratio TTM12.7

1.040.95

P/B Ratio TTM2.5

1.080.97

Geo Avg Mkt Cap

$mil

616091.39

0.96

Fixed-Income Style

LtdM

odExt

HighMedLow

Avg Eff Maturity


6.13Avg W

td Coupon2.05

Avg Wtd Price

111.47

Credit Quality B

reakdown 11-30-2020

Bond %

AAA61.89

AA8.01

A12.34

BBB17.76

BB0.00

B0.00

Below B

0.00N

R0.00


Rel Std Index

Americas

62.71.03

Greater Europe17.5

0.98Greater Asia

19.80.95


ShareAm


e,21%

Turnover Ratio

Net Assets%

T237 m


arket II Idx36.83

Y14 m


arket Idx I18.12

T49 m


Infl-Prot Sec I16.87

T50 m


iral™15.75

Y47 m


12.43

Sector Weightings


hCyclical

35.30.92

rBasic M

aterials4.7

0.91t

Consumer Cyclical

12.21.13

yFinancial Services

14.80.99

uReal Estate

3.50.49

jSensitive

42.11.11

iCom

munication Services

9.21.29

oEnergy

3.00.90

pIndustrials

11.00.95

aTechnology

19.01.18

kD

efensive22.6

0.95

sConsum

er Defensive7.4

0.92d

Healthcare12.3

0.99f

Utilities3.0

0.88

Operations

Family:

VanguardM

anager:M

ultipleTenure:

5.6 YearsObjective:

Asset Allocation

Base Currency:USD

Ticker:VITRX

ISIN:

US92202E6986M

inimum


il


Incept:06-26-2015

Type:M

FTotal Assets:

$7,471.56 mil


©2021 M
























ß®

120

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121




Name

Ticker

Expense Ratio


Benchmark

Inception Date



Fund Size

Annual Performance






Average Coupon

Sector Allocations VYAXX +/- Category










Asset-Backed 0.0% 0.0% 90.8% 0.0%

Cash & Equivalents 90.8% 5.4% 9.2% 0.0%

Other 0.0% 0.0% 0.0% 0.0%

0.0%

0.0%

85.4%

0.0%

89.12%

-

-

-

- -

-

-

-

83.23%

0.0%

0.0%

0.0%

0.0%

16.25 Years

Category

10.7%

0.5%

0.2%

3.2%

+/- CategoryVYAXX

Low

Qu

alH

igh

Qu

alM

ed Q

ual

Voya Government Money Market A

David S. Yealy

$226,543,088

4/15/1994

0.410%

VYAXX

US Fund Money Market - Taxable

USTREAS Stat US T-Bill 90 Day TR

0.0%0.3% 0.3%

1.2%

0.8%

0.4%

0.0%0.4% 0.4%

1.5%1.1%

0.6%


VYAXX Benchmark

0.3%

1.9%1.5%

0.3% 0.1% 0.0%0.4%

2.1% 1.9%

0.9%

0.3%0.1%

2020 2019 2018 2017 2016 2015

VYAXX Benchmark

122




0.00% 0.27% 0.27% 1.22% 0.80% 0.41% 4Q20 3Q20 2Q20 1Q20

0.02% 0.36% 0.36% 1.45% 1.12% 0.59% 0.00% 0.00% 0.02% 0.25%

+/- Benchmark -0.02% -0.09% -0.09% -0.23% -0.32% -0.18% 0.02% 0.03% 0.04% 0.28%



0.27% 1.88% 1.51% 0.26% 0.08% 0.02% 4Q19 3Q19 2Q19 1Q19

0.36% 2.06% 1.94% 0.93% 0.32% 0.05% 0.32% 0.50% 0.53% 0.52%

+/- Benchmark -0.09% -0.18% -0.43% -0.67% -0.24% -0.03% 0.39% 0.49% 0.57% 0.59%


01/2016 - 10/2015 - 07/2015 - 04/2015 - 01/2015 - 10/2014 -


0.80% 0.80% 0.80% 0.80% 0.75% 0.68% 0.47% 0.40% 0.35% 0.27%

1.12% 1.12% 1.12% 1.11% 1.06% 0.98% 0.57% 0.51% 0.46% 0.39%

+/- Benchmark -0.32% -0.32% -0.32% -0.31% -0.31% -0.29% +/- Benchmark -0.10% -0.10% -0.11% -0.12%

Peer Group Rank 50 50 50 51 51 49



Alpha -0.14 0.00 -0.30 0.00 -0.10 0.00 0.30% 0.26% 0.22% 0.15%

Beta 2.33 1.00 1.37 1.00 3.79 1.00 +/- Benchmark -0.17% -0.17% -0.18% -0.14%


Sharpe Ratio -4.93 -5.60 -4.94 -4.75 -2.81 -2.52


Treynor Ratio -0.13 -0.07 -0.27 -0.05 -0.05 -0.03 0.01% 0.07% 0.00% 0.00%


Downside Capture Ratio - - - - - - +/- Benchmark -0.09% -0.01% -0.06% -0.07%



5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

5-Year Quarterly

Performance

123

Combined Retirement and RMT Plans

Documents

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