Fund Information   
 Investment ObjectivePrincipal Investment StrategiesPrincipal Investment Risks

Portfolio Information  
  Portfolio Turnover Rate Industry Allocation Top Ten Holdings  
  Manager Biography

Fund Information for Mutual of America's Traditional IRA, Roth IRA, Inherited IRA, and Flexible Premium Annuity Separate Account No. 2
Small Cap Equity Index Fund
Investment ObjectiveReturn to Top

The Fund seeks investment results that correspond to the investment performance of the S&P SmallCap 600® Index.

Principal Investment StrategiesReturn to Top

The Fund invests primarily in the 600 common stocks included in the S&P SmallCap 600® Index to replicate, to the extent practicable, the weightings of such stocks in the Index. The components of the Index are market capitalization weighted, adjusted for free float. Under normal circumstances, at least 80% of the Fund’s total assets are invested in securities included in the S&P SmallCap 600® Index, which as of December 31, 2018, included companies with market capitalizations from $28 million up to $4.2 billion. The Fund is rebalanced at approximately the same time that the S&P SmallCap 600® Index to which the Fund is benchmarked is rebalanced and reconstituted, which currently occurs on the third Friday of the last month of each quarter. The Fund may concentrate its investments in an industry or group of industries to the extent that the index being tracked is also so concentrated.

Principal Investment RisksReturn to Top

An investment in the Fund is subject to the following risks which are described in more detail in the Statutory Prospectus.

  • General risk: The Fund may not achieve its investment objective. An investment in the Fund could decline in value, and you could lose money by investing in the Fund.

  • Company risk: The price of the stock of a particular company can vary based on a variety of factors, such as the company's financial performance, changes in management and product trends, and the potential for takeover and acquisition. The prices of equity securities of smaller companies may fluctuate more than for more established companies. The equity securities of smaller companies may not be traded as often as for larger companies, therefore it may be difficult to trade securities at a desirable price. Investments in companies with small market capitalizations generally offer greater opportunities for appreciation, but are associated with more risks than for established companies.

  • Market risk: The risk that prices of securities will go down because of the interplay of market forces may affect a single issuer, industry or sector of the economy or may affect the market as a whole.

  • Concentration risk: The chance that the stocks of a particular industry or group of industries will decline because of adverse developments affecting that industry. Because the Fund concentrates its assets in certain industries to the same extent that the S&P SmallCap 600® Index does, the Fund bears concentration risk.

  • Index risk: The Fund's investment performance may not precisely duplicate the performance of the S&P SmallCap 600® Index due to factors such as operating and transaction costs, as well as weighting of each security in the Index.

  • Tracking Error risk: As an index fund, the Fund seeks to track the performance of the index, although it may not be successful in doing so. The divergence between the performance of the Fund and the index, positive or negative, is called tracking error. Tracking error can be caused by many factors and it may be significant.

  • Passive Investment risk: Because the Fund is passively managed and seeks to match the performance of its benchmark index, holdings are generally not reallocated based on changes in market conditions or outlook for a specific security, industry, or market sector. As a result, the Fund’s performance may lag the performance of actively managed funds.

  • Small-Cap risk: Small-cap stocks generally are subject to greater, less predictable price changes than the securities of companies with larger market capitalizations. It may be more difficult for the Fund to sell a small capitalization stock or any stock that trades "over-the-counter," than a larger capitalization stock or stocks that trade on a national or regional stock exchange.

  • Stock risk: The value of your investment will go up or down, depending on movements in the stock markets. The investment results may be better or worse than the results for the stock markets taken as a whole, or than the results of other funds that invest in the same types of securities.

    Performance Return to Top

    AS OF 6/14/2019
    Year to Date 9.40%
    FOR PERIODS ENDED 5/31/2019
    Prior 3 Months -8.58%
    Prior 1 Year N/A
    Prior 3 Years N/A
    Prior 5 Years N/A
    Prior 10 Years* -12.54%
    Date of Inception1 7/2/2018

    * Or since inception if the Fund has been in existence for less than 120 months.

    1 Date of Inception shown is the date the Underlying Fund became available to the Separate Account, in accordance with a current SEC staff position. An Underlying Fund may have begun operations at an earlier date.

    The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and unit values will fluctuate so that units, when redeemed, may be worth more or less than their original cost. Investment Fund total return performance currently may be lower or higher than the figures stated above.

    The total return performance data are based on a hypothetical investment of $1,000, which is redeemed at the end of the periods shown. The total return figures reflect the reinvestment of investment income and capital gains and losses, and are net of expenses which include a contract fee, an expense risk fee, administrative charges, a distribution expense charge and Underlying Funds fees and expenses.

    The total return figures for periods extending beyond a year are average rates of return and do not reflect the Funds' actual year-to-year results, which varied over the periods shown. Contributions or withdrawals made within a period would experience different rates of return based on the unit values on the dates of such transactions.

    Portfolio Information for the Small Cap Equity Index Fund
    Portfolio Turnover RateReturn to Top

    Portfolio Turnover Rate(%): N/A%*

    *Excludes all short-term securities.

    Industry Allocation as of 4/30/2019
    Return to Top

      Industry Allocation
    Industry % of Portfolio
    Communication Services2.0%
    Consumer Discretionary13.8%
    Consumer Staples3.5%
    Health Care10.8%
    Information Technology15.1%
    Real Estate7.2%
    The above Portfolio Information is provided to illustrate the types of securities in which the Portfolio may invest. The information is subject to change and may not represent the Portfolio's current or future holdings.

    Top Ten Holdings as of 4/30/2019
    (reflects most recent information available)
    Return to Top

    Company % of Portfolio
    FirstCash Inc.0.5%
    Selective Insurance Group Inc.0.5%
    EastGroup Properties Inc0.5%
    Axon Enterprise Inc.0.5%
    Cabot Microelectronics Corp0.5%
    Glacier Bancorp Inc0.5%
    Darling Ingredients Inc.0.5%
    Tetra Tech Inc0.5%
    Mercury Systems Inc.0.4%
    John Bean Technologies Corp0.4%

    The above Portfolio Information is provided to illustrate the types of securities in which the Portfolio may invest. The information is subject to change and may not represent the Portfolio's current or future holdings.
    Manager Biography Return to Top

    Jamie A. Zendel, Vice President of the Adviser, handles indexed investments. Ms. Zendel joined the Adviser in July 2007 and has approximately 21 years of experience in the financial industry. Ms. Zendel has been responsible for the indexed portfolio of the All America Fund; for the Equity Index Fund, Mid Cap Equity Index Fund, and International Fund since 2014; and for the Small Cap Equity Index Fund since 2018.

    Before investing, you should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the underlying investment funds. This and other information is contained in the contract prospectus or brochure and underlying funds prospectuses and summary prospectuses. Please read the contract prospectus or brochure and underlying fund prospectuses and summary prospectuses carefully before investing. The contract prospectus or brochure and underlying fund prospectuses and summary prospectuses can be obtained by mail or by calling 1-800-468-3785.

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