Indicators used to provide a point of reference for evaluating a fund's performance. The most common benchmark for equity-oriented funds is the S&P 500 Index. For fixed-income funds it is the Lehman Brothers Aggregate Bond Index.
Index that measures the performance of market allocations in a variable annuity. Also compares performance between a variable annuity and an investment portfolio. These indices cannot be invested in directly; also, in contrast to an investment portfolio, these indices do not require that transaction fees and other costs be paid by an investor. Also called stock or bond indices.
An index that correlates with a fund, used to measure a fund manager's performance.