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Why invest in this Fund?

The fund seeks to match the total return of the S&P 500® Index. To pursue its goal, the fund generally is fully invested in stocks included in the S&P 500® Index and in futures whose performance is tied to the index. In addition to investing in futures, the fund may invest in exchange-traded funds (ETFs) whose performance is tied to the index. Typically, these investments may be made when the fund's available cash balances cannot otherwise be efficiently or effectively invested directly (due to, for example, size or timing
Min. class investment
Class Inception Date
Fund Assets
$3,091,185,141  As of  02/26/24
Class Assets
$3,030,841,196  As of  02/26/24
Portfolio Turnover Rate
1.85% As of fiscal year end  12/31/22
Morningstar Category
Large Blend
S&P 500® Index
Morningstar Overall Rating
Fund Holdings
504 As of 01/31/24

Morningstar Rating™ as of January 31, 2024 for the Initial Shares class shares; other classes may have different performance characteristics. Overall rating for the Large Blend category. Fund ratings are out of 5 Stars: Overall 4 Stars (1302 funds rated); 3 Yrs. 3 Stars (1302 funds rated); 5 Yrs. 4 Stars (1188 funds rated); 10 Yrs. 4 Stars (896 funds rated).

Portfolio Managers

  • David  France

    David France, CFA

    Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

  • Todd Frysinger

    Todd Frysinger, CFA

    Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

  • Vlasta Sheremeta

    Vlasta Sheremeta, CFA

    Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

  • Michael  Stoll

    Michael Stoll

    Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

  • Marlene  Walker Smith

    Marlene Walker Smith

    Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

Fees & Expenses

Variable insurance products have additional fees, charges and expenses. Please consult the applicable variable contract prospectus for more detailed information.

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Mellon Investments Corporation (Mellon), to serve as the fund's index manager. David France, CFA, Todd Frysinger, CFA, Vlasta Sheremeta, CFA, Michael Stoll and Marlene Walker Smith are the fund's primary portfolio managers, positions they have held since October 2020. Messrs. France, Frysinger and Stoll and Ms. Sheremeta are each a vice president and senior portfolio manager at Mellon. Ms. Walker Smith is a director and head of equity index portfolio management at Mellon.

Top Holdings

As of 01/31/24

Asset Allocation

      Main Risks

      An investment in the fund is not a bank deposit. It is not insured or guaranteed by the FDIC or any other government agency. It is not a complete investment program. The fund's share price fluctuates, sometimes dramatically, which means you could lose money.

      Equity funds are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.

      ETFs trade like stocks, are subject to investment risk, including possible loss of principal. The risks of investing in ETFs typically reflect the risks associated with the types of instruments in which the ETF invests.

      Diversification cannot assure a profit or protect against loss.

      The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor stock performance.

      Risk Metrics

      As of  01/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
      17.49 -1.66 1.00 100.00 0.44

      All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is S&P 500® Index.


      Factsheet, Prospectus and Reports

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