Index Age-Based Moderate

(Beneficiary age 6-8)

The Index Age-Based Moderate Option invests in the following mix of equity, real estate, fixed income, and/or money market/bank account funds allocated based on the current age of the Beneficiary. The Age-BasedPortfolio adjust over time so that as the Beneficiary nears college age eachAge-Based Portfolio’s allocation between equity, real estate, fixed income, and money market/bank account funds becomes more conservative relative to the allocation in earlier years.

Underlying Investments

iShares Total U.S. Stock Market Index Fund 42%

Fact Sheet Prospectus Annual Report
iShares Core MSCI Total International Stock ETF 23%

Fact Sheet Prospectus Annual Report
iShares Core U.S. Aggregate Bond ETF 18%

Fact Sheet Prospectus Annual Report
Vanguard High-Yield Corporate Fund 5%

Fact Sheet Prospectus Annual Report
iShares Developed Real Estate Index Fund 5%

Fact Sheet Prospectus Annual Report
iShares 0-5 Year TIPS Bond ETF 4%

Fact Sheet Prospectus Annual Report
Vanguard Total International Bond Index Fund 2%

Fact Sheet Prospectus Annual Report
Vanguard Emerging Markets Government Bond Index ETF 1%

Fact Sheet Prospectus Annual Report

Portfolio Performance

Single Portfolio Performance
Fee Structure as of August 31, 2023	YTD	3 Mo	Average Annual Total Returns as of 8/31/2023					Expense Ratio^{Footnote 1}	Inception Date
Fee Structure as of August 31, 2023	YTD	3 Mo	1 Yr	3 Yrs	5 Yrs	10 Yrs	Since Inception^{Footnote 2}	Expense Ratio^{Footnote 1}	Inception Date
Fee Structure A	9.99%	4.46%	-	-	-	-	10.10%	0.47%	11/15/22
Fee Structure C	9.79%	4.37%	-	-	-	-	9.90%	0.72%	11/15/22
Fee Structure F	10.08%	4.45%	-	-	-	-	10.30%	0.22%	11/15/22

Past performance is not necessarily an indication of future performance. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may be lower or higher than the performance data above. Performance information is current as of the most recent timeframe referenced above and is net of the Underlying Investment expenses, the program management fee, state fee, and any applicable account servicing fee.

For more information about the risks associated with each Investment Option and Underlying Investments, read the Program Disclosure Statement and the fund prospectus. The Investment Options’ risks are directly related to the risks of the Underlying Investments.

Index Age-Based Moderate

Underlying Investments

Portfolio Performance

Looking for something specific?