The diversified no load mutual fund strategy of the USAA S&P 500 Index Fund (USSPX)
According to its prospectus filing on the U.S. Securities and Exchange Commission EDGAR system, the investment strategy of the USAA S&P 500 Index Member Shares mutual fund targets investment results corresponding to the S&P 500 index. Investments are allocated using about the same weightings as those of the companies that comprise the Standard and Poors 500 composite index.
This USAA S&P 500 no load index fund is one of the lowest cost S&P 500 index funds. For a listing of ten such low cost index mutual funds see the section below.
Note that only USAA members may invest in the USSPX index mutual fund. The USAA is a member owned organization and is not a publicly traded company. Those eligible to join the USAA are: 1) active-duty U.S. military officers and enlisted personnel, 2) US state national guard and selected reserve officers and enlisted personnel, 3) recently retired or separated military personnel, and 4) the children of USAA members. At the end of 2006, the USAA had 5.9 million members.
Overview of the USAA S&P 500 Index Fund
This low cost index fund’s annual management expense ratio is .18%. There are not sales load charges and no 12b-1 fees, when you purchase shares directly from USAA. Annual turnover is a very low 4%.
Total net assets are about $3.2 billion. Shares in this fund were first sold in 1996. The trading symbol is USSPX for Member Shares. A minimum initial deposit of $3,000 is required to open a taxable account.
The USAA fund family website can be found at www.usaa.com. The USAA customer service telephone number is 1-800-531-8722.
This no load index fund is one of the lower cost S&P 500 equity mutual funds that investors can buy.
To buy index funds, click on any of the 10 low cost, no load S&P 500 index funds below to find additional information about them. The article “Top 10 S&P 500 Index Funds” explains how this list was developed. The five letter term in parentheses is the fund’s trading symbol.
- California Investment S&P 500 Index Fund (SPFIX)
- Fidelity Spartan 500 Index Fund (FSMKX)
- Schwab S & P 500 Index Fund (SWPPX)
- SSga S&P 500 Index Fund (SVSPX)
- T Rowe Price Equity Index Fund 500 (PREIX)
- United Association S&P500 Index Fund (UAIIX)
- USAA S&P 500 Index Fund – Member (USSPX)
- Vanguard 500 Index Fund – Admiral (VFIAX)
- Vanguard 500 Index Fund (VFINX)
- Vantagepoint 500 Index Fund – Stock II (VPSKX)
You should be able to go directly to most of these 10 funds to buy them. Either call them or download the investment forms from their websites. When you shop for any investment, always pay attention to the details. Understand whether there are other restrictions, costs, and purchase conditions associated with buying any index mutual fund.
Your decision on whether to purchase or to sell any investment is yours and yours alone. READ OUR WEBSITE DISCLAIMER HERE: No Load Index Funds
