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Moderate Growth Portfolio

Overview

Unit Price as of 05/08/2025 $36.92
Change $0.00 0.00%
Expense Ratio as of 05/08/2025 0.12%
Inception Date 11/14/2003

Investment Objective

The Portfolio seeks to provide capital appreciation and current income.

Investment Strategy

The Moderate Growth Portfolio invests in two Vanguard® stock index funds and two Vanguard bond index funds in approximately the following proportions:

Vanguard Total Stock Market Index Fund 30%
Vanguard Total International Stock Index Fund 20%
Vanguard Total Bond Market II Index Fund 35%
Vanguard Total International Bond Index Fund 15%

Through its investment in Vanguard Total Stock Market Index Fund, the Portfolio indirectly invests in primarily large-capitalization U.S. stocks and, to a lesser extent, mid-, small-, and micro-capitalization U.S. stocks. The Fund's target index represents approximately 100% of the investable U.S. stock market.

Through its investment in Vanguard Total International Stock Index Fund, the Portfolio indirectly invests in international stocks. The Fund is designed to track the performance of the FTSE Global All Cap ex US Index, a free-float-adjusted, market-capitalization-weighted index designed to measure equity market performance of companies located in developed and emerging markets, excluding the United States. The Index includes more than 5,500 stock of companies in 46 countries.

Through its investment in Vanguard Total Bond Market II Index Fund, the Portfolio indirectly invests in a broadly diversified collection of securities that, in the aggregate, approximates the Bloomberg Barclays U.S. Aggregate Float Adjusted Index in terms of key risk factors and other characteristics. This Index measures a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States—including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities—all with maturities of more than one year. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which generally ranges between five and ten years.

Through its investment in Vanguard Total International Bond Index Fund, the Portfolio indirectly invests in government, government agency, corporate and securitized non-U.S. investment-grade fixed income investments, all issued in currencies other than the U.S. dollar and with maturities of more than one year. To minimize the currency risk associated with investments in bonds denominated in currencies other than the U.S. dollar, the Fund attempts to hedge its currency exposures.

Investment Risks

Through its stock fund holdings, the Portfolio is subject to stock market risk. Through its bond fund holdings, the Portfolio has moderate levels of interest rate risk, income risk, call risk, prepayment risk, and extension risk. The Portfolio also has low levels of credit risk, country/regional risk, currency risk, emerging markets risk, index sampling risk, currency hedging risk, nondiversification risk, and derivatives risk.

Average Annual Returns - Updated Monthly as of 04/30/2025

Name 1 year 3 year 5 year 10 year Since Inception 11/14/2003
Name Moderate Growth Portfolio 1 year 9.52% 3 year 6.14% 5 year 6.36% 10 year 5.66% Since Inception 11/14/2003 6.25%
Name Moderate Growth Composite Index** 1 year 9.64% 3 year 6.32% 5 year 6.57% 10 year 5.96% Since Inception 11/14/2003 6.56%

**Consists of the Spliced Institutional Total Stock Market Index (30%), the FTSE Global All Cap ex US Index (20%), the Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index (35%), and the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged (15%). The Spliced Institutional Total Stock Market Index consists of the Dow Jones Wilshire 5000 Index through April 8, 2005; MSCI US Broad Market Index through January 14, 2013; CRSP US Total Market Index thereafter. The Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index consists of the Barclays U.S. Aggregate Bond Index through December 31, 2009; and the Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Effective September 29, 2016, Barclays indexes were rebranded to Bloomberg Barclays indexes.

Annual Investment Returns

Year Ended Moderate Growth Portfolio
Year Ended 2024 Moderate Growth Portfolio 8.80%
Year Ended 2023 Moderate Growth Portfolio 14.05%
Year Ended 2022 Moderate Growth Portfolio -15.19%
Year Ended 2021 Moderate Growth Portfolio 8.00%
Year Ended 2020 Moderate Growth Portfolio 12.34%

Historical Prices

05/08/2025 $36.92
05/07/2025 $36.92
05/06/2025 $36.85
05/05/2025 $36.93
05/02/2025 $37.02

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Index performance is provided as a benchmark but is not illustrative of any particular investment. An investment cannot be made in an index.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' units, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data cited. For performance data current to the most recent quarter-end click here.

Investment returns are not guaranteed, and you could lose money by investing in the Direct Plan.

For more information about New York's 529 College Savings Program Direct Plan, download a Disclosure Booklet and Tuition Savings Agreement or request one by calling 877-NYSAVES (877-697-2837). This document includes investment objectives, risks, charges, expenses, and other information. You should read and consider them carefully before investing.

Before you invest, consider whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's 529 plan. Other state benefits may include financial aid, scholarship funds, and protection from creditors.

The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Direct Plan.

Ascensus Broker Dealer Services, Inc., serves as Program Manager and, in connection with its affiliates, provides recordkeeping and administrative support services and is responsible for day-to-day operations of the Direct Plan. The Vanguard Group, Inc., serves as the Investment Manager. Vanguard Marketing Corporation markets, distributes, and underwrites the Direct Plan.

No guarantee: None of the State of New York, its agencies, the Federal Deposit Insurance Corporation (FDIC), The Vanguard Group, Inc., Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment portfolio.