Underlying Investments

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Each investment option consists of one or more underlying funds

Underlying investments in my529 accounts are managed by:

  • Vanguard Group.
  • Dimensional Fund Advisors.
  • Pacific Investment Management Company (PIMCO).
  • Or are held in trust by my529 at Sallie Mae Bank and U.S. Bank.

my529 pools contributions from account owners and other contributors for the purpose of investing in Vanguard and Dimensional mutual funds, the PIMCO Interest Income Fund separate account, and FDIC-insured accounts held at Sallie Mae Bank and U.S. Bank. Each of my529’s investment options comprises some combination of these underlying investments. The my529 account owner does not own shares of any underlying investment. Instead, the account owner owns my529 units in the selected investment options issued by my529.

Read the Program Description for more information.

Underlying Fund Expenses

Vanguard and Dimensional charge an Underlying Fund Expense for each underlying mutual fund. Fund expenses do not appear on my529 account statements because Vanguard and Dimensional deduct the fees from the applicable underlying funds (and because you do not own shares in the funds). The performance and market values of a my529 account are net of any fund expenses. The Underlying Fund Expenses in the tables below apply to the Vanguard and Dimensional funds included as underlying investments in my529.

To view a Fund Fact Sheet or Prospectus, click the icon next to the fund.


As of June 30, 2021, Vanguard managed more than $7.9 trillion in U.S. mutual fund and exchange-traded fund assets. The firm offers 210 funds to U.S. investors and 207 additional funds in non-U.S. markets.

Underlying FundTicker SymbolUnderlying Fund ExpensesFund Fact SheetProspectus
Institutional Total Stock Market Index FundVSTSX0.010%VSTSX Fact SheetVSTSX Prospectus
Institutional Index FundVIIIX0.020%VIIIX Fact SheetVIIIX Prospectus
Value Index Fund1VIVIX0.040%VIVIX Fact SheetVIVIX Prospectus
Growth Index Fund1VIGIX0.040%VIGIX Fact SheetVIGIX Prospectus
Mid-Cap Index FundVMCPX0.030%VMCPX Fact SheetVMCPX Prospectus
Small-Cap Index FundVSCPX0.030%VSCPX Fact SheetVSCPX Prospectus
Small-Cap Value Index Fund1, 2VSIIX0.060%VSIIX Fact SheetVSIIX Prospectus
Small-Cap Growth Index Fund1, 2VSGIX0.060%VSGIX Fact SheetVSGIX Prospectus
FTSE Social Index Fund1VFTNX0.120%VFTNX Fact SheetVFTNX Prospectus
Total International Stock Index FundVTPSX0.070%VTPSX Fact SheetVTPSX Prospectus
Developed Markets Index FundVDIPX0.040%VDIPX Fact SheetVDIPX Prospectus
International Value Fund2VTRIX0.360%VTRIX Fact SheetVTRIX Prospectus
International Growth Fund1, 2VWILX0.320%VWILX Fact SheetVWILX Prospectus
Emerging Markets Stock Index Fund2VEMRX0.080%VEMRX Fact SheetVEMRX Prospectus
Short-Term Investment-Grade FundVFSIX0.070%VFSIX Fact SheetVFSIX Prospectus
Short-Term Bond Index FundVBIPX0.040%VBIPX Fact SheetVBIPX Prospectus
Short-Term Inflation-Protected Securities Index Fund1VTSPX0.040%VTSPX Fact SheetVTSPX Prospectus
Total Bond Market Index FundVTBSX0.010%VBMPX Fact SheetVBMPX Prospectus
High-Yield Corporate Fund1, 2VWEAX0.130%VBMPX Fact SheetVWEAX Prospectus
Total International Bond Index FundVTIFX0.070%VTIFX Fact SheetVTIFX Prospectus


As of December 31, 2021, Dimensional managed $679 billion for investors worldwide, with offices around the globe. They offer investment solutions across asset classes, including global equities, fixed income, and real estate investment trusts (REITS).

Underlying FundTicker SymbolUnderlying Fund ExpensesFund OverviewProspectus
Global Allocation 60/40 Portfolio1, 3DGSIX0.250% DGSIX Prospectus
Global Allocation 25/75 Portfolio1, 3DGTSX0.230%DGTSX Fact SheetDGTSX Prospectus
U.S. Large Cap Value Portfolio1, 4DFLVX0.220%DFLVX Fact SheetDFLVX Prospectus
U.S. Small Cap Value Portfolio1, 2DFSVX0.300%DFSVX Fact SheetDFSVX Prospectus
Real Estate Securities Portfolio1, 2, 3DFREX0.180%DFREX Fact SheetDFREX Prospectus
U.S. Sustainability Core 1 Portfolio1, 3DFSIX0.180%DFSIX Fact SheetDFSIX Prospectus
International Value Portfolio1, 2, 4DFIVX0.290%DFIVX Fact SheetDFIVX Prospectus
Global Equity Portfolio1, 3DGEIX0.250%DGEIX Fact SheetDGEIX Prospectus
One-Year Fixed Income Portfolio1DFIHX0.130%DFIHX Fact SheetDFIHX Prospectus
Five-Year Global Fixed Income Portfolio1DFGBX0.240%DFGBX Fact SheetDFGBX Prospectus

PIMCO Interest Income Fund

The PIMCO Interest Income Fund, a stable value fund, is run by Pacific Investment Management Company (PIMCO), a Newport Beach, California, investment firm with $2.2 trillion in assets under management as of June 30, 2021.

PIMCO Interest Income Fund focuses on preserving principal and providing liquidity while generating steady returns for my529 account owners saving for higher education. The fund invests in high-quality government and corporate bonds with short-and intermediate-term maturity dates.

The investment management fee for the fund is 0.112 percent. In the future, the management fee could be higher or lower depending on the total invested assets under management.

Read the PIMCO Interest Income Fund Fact Sheet for more information.

FDIC-insured accounts

All money invested in the FDIC-Insured investment option and the portion of the Enrollment Date, Static or Customized investment options allocated to the FDIC-insured accounts is held in trust by my529 at Sallie Mae Bank and U.S. Bank.

Sallie Mae Bank, a wholly owned subsidiary of SLM Corporation, has operated as an industrial bank in Utah since 2005. The bank had approximately $28.9 billion in assets as of June 30, 2021. For more information about Sallie Mae Bank, visit salliemae.com/banking.

U.S. Bank National Association, based in Minneapolis, Minnesota, has been chartered since 1863. U.S. Bank had $558.9 billion in assets as of June 30, 2021. For more information about U.S. Bank, visit usbank.com.

Contributions to and earnings on the FDIC-Insured investment option (as well as the portion of the Enrollment Date, Static, or Customized investment options that are invested in the FDIC-insured accounts) are allocated between the banks according to the following percentages: Sallie Mae Bank (90 percent) and U.S. Bank (10 percent). This money is insured by the FDIC on a pass-through basis to each account owner at each bank up to the maximum amount set by federal law, which is $250,000. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured account at each bank plus (2) the value of other accounts held (if any) at each bank, as determined by the banks and by FDIC regulations.

The interest paid in the FDIC-insured accounts is a floating rate that is a 90/10 blend of the interest paid by each of the banks based on recognized benchmarks for short-term interest rates.