Age-Based Moderate

(Beneficiary age 15-16)

The Age-Based Moderate Investment Option invests in the following mix of domestic and international equity, global real estate, fixed income, and/or cash equivalents allocated based on the current age of the Beneficiary. The Age-Based Investment Options adjust over time so that as the Beneficiary nears college age each Age-Based Investment Option’s allocation between domestic and international equity, global real estate, fixed income, and cash equivalents becomes more conservative relative to the allocation in earlier years.

Underlying Investments

Vanguard Short-Term Bond ETF 22.00%

Vanguard Short-Term Bond ETF’s Complete Fund Information URL
Fidelity U.S. Bond Index Fund 12.50%

Fidelity U.S. Bond Index Fund’s Complete Fund Information URL
Vanguard Short-Term Inflation-Protected Securities ETF 11.00%

Vanguard Short-Term Inflation-Protected Securities ETF’s Complete Fund Information URL
Vanguard Total Stock Market ETF 11.00%

Vanguard Total Stock Market ETF’s Complete Fund Information URL
PGIM Total Return Bond Fund 9.50%

PGIM Total Return Bond Fund’s Complete Fund Information URL
TCW MetWest Total Return Bond Fund 9.50%

TCW MetWest Total Return Bond Fund’s Complete Fund Information URL
Vanguard Global Credit Bond Fund 5.50%
Fidelity Total International Index Fund 5.00%

Fidelity Total International Index Fund’s Complete Fund Information URL
Dodge & Cox Stock Fund 3.50%

Dodge & Cox Stock Fund’s Complete Fund Information URL
T. Rowe Price Large-Cap Growth Fund 3.50%

T. Rowe Price Large-Cap Growth Fund’s Complete Fund Information URL
iShares Global REIT ETF 2.00%
American Funds EUPAC Fund 1.50%
Dodge & Cox International Stock Fund 1.50%
Avantis U.S. Small Cap Value 529 1.00%

Avantis U.S. Small Cap Value 529’s Complete Fund Information URL
Vanguard Explorer Fund 1.00%

Vanguard Explorer Fund’s Complete Fund Information URL