Stable Value Fund (Class 25bps)

Seeks to deliver intermediate-bond-like returns while seeking to maintain a stable net asset value



The fund seeks to preserve principal and achieve high current income through a diversified portfolio of high-quality investment contracts.

Strategy and process

  • Stability Seeks to maintain the stability of a money market fund while offering returns similar to those of intermediate-term bonds.
  • Liquidity Liquidity, stability, and consistency are essential to the portfolio construction process, which emphasizes diversifying the sources of returns, industries, and issuers within the portfolio.
  • Diversification Utilizes multiple stable value investment options, including cash alternatives, traditional GICs, and wrapped, actively managed strategies.

Fund price and assets

Prior close 52-week high 52-week low Net assets and outstanding shares
Net asset value $1.00
0.00% | $0.00
Download CSV
Net assets and outstanding shares


Fund facts as of 12/31/22

Total net assets
Turnover (fiscal year end)
Dividend frequency
Fiscal year-end
CUSIP / Fund code
74686Q207 / 5545
Inception date
Stable Value
Open to new investors

Management team

Portfolio Manager
Portfolio Manager
Portfolio Manager, Director of Sustainable Investing
Portfolio Manager


Why withdrawal risk matters in stable value funds
We believe that risk measurement in stable value funds is more complex than simply utilizing the methods applied to standard bond funds.
The outlook for stable value in a rising rate environment
With the Federal Reserve likely to raise the federal funds rate multiple times during 2022, it is worth considering the potential impact on a range of fixed income investments.


  • Total return (%) as of 12/31/22

  • Annual performance as of 12/31/22

Annualized Total return (%) as of 12/31/22

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
At 25bps 2.39% 2.34% 2.35% 2.06%
ICE BofA US 3-Month Treasury Bill Index 1.46%0.72%1.26%0.76%

Data is historical. Past performance is not a guarantee of future results. More recent returns may be higher or lower than those shown. Investment returns and principal value will fluctuate and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Performance data reflects the impact of the stated management fee. For the most recent month-end performance, please call your plan's toll-free number. 

Performance snapshot

  At 25bps  
1 mt. as of 12/31/22 0.26%
YTD as of 01/27/23 or prior close 0.18%

Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


Expense ratio

Gross of fees 15bps 20bps 25bps 35bps 50bps 75bps 100bps
Total expense ratio 0.11% 0.26% 0.31% 0.36% 0.46% 0.61% 0.86% 1.11%
What you pay 0.11% 0.26% 0.31% 0.36% 0.46% 0.61% 0.86% 1.11%

The ICE BofA U.S. 3-Month Treasury Bill Index is an unmanaged index that seeks to measure the performance of U.S. Treasury bills available in the marketplace. You cannot invest directly in an index.

Consider these risks before investing: The fund seeks capital preservation, but there can be no assurances that it will achieve this goal. The fund’s returns will fluctuate with interest rates and market conditions. The fund is not insured or guaranteed by any governmental agency. Funds that invest in bonds are subject to certain risks including interest-rate risk, credit risk, and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short term bonds. Unlike bonds, bond funds have ongoing fees and expenses.

Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. The use of derivatives involves additional risks, such as the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The fund may be exposed to risks associated with the providers of any wrap contracts (synthetic GICs) covering with the fund’s assets, including credit risk and capacity risk.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund. You can lose money by investing in the fund.