AZL S&P 500 Index Fund
Data updated: 2026-08-25
C000048319 — AZL S&P 500 Index Fund. United States Large Cap Blend / Core Equity · $2.56B AUM. Holdings, fees, performance and SEC filings.
C000048319 Fund Overview
AZL S&P 500 Index Fund is a US mutual fund managed by Allianz Variable Insurance Products Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Allianz Variable Insurance Products Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $2.56B
- 1-year return: 22.1%
- SEC CIK: 0001091439
- SEC series ID: S000017470
- Share class ID: C000048319
C000048319 Investment Objective and Strategy
AZL S&P 500 Index Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allianz Variable Insurance Products Trust.
Investment objective
The Fund seeks to match the total return of the Standard & Poors 500 Index (S&P 500 ).
Principal investment strategy
The Subadviser (as defined below) normally invests in all 500 stocks in the S&P 500 (also referred to herein as the Index) in proportion to their weighting in the index. The Subadviser attempts to have a correlation between the Funds performance and that of the S&P 500 of at least 0.95 before expenses. A correlation of 1.00 would mean that the Fund and the index were perfectly correlated. The S&P 500 is an unmanaged index of 500 common stocks chosen to reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. S&P adjusts each companys stock weighting in the index by the number of available float shares (those shares available to public investors) divided by the companys total shares outstanding, which means larger companies with more available float shares have greater representation in the index than smaller ones.
In seeking to match the performance of the index, the Subadviser uses a passive management approach and generally purchases all of the stocks comprising the benchmark index. However, in certain circumstances the Subadviser may find it advantageous to purchase a representative sample of the stocks comprising the index. The Subadviser also may use stock index futures as a substitute for the sale or purchase of securities. Under normal circumstances, the Fund invests at least 80% of the value of its net assets in the securities of or in a statistically selected sampling of the securities of companies included in the S&P 500 or in derivative instruments linked to that Index. Diversification Policy. The Fund intends to be diversified in approximately the same proportion as the Index is diversified.
The Fund may become non-diversified, as defined in the Investment Company Act of 1940, as amended (the 1940 Act), solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Index. Shareholder approval will not be sought if the Fund becomes non-diversified due solely to a change in the relative market capitalization or index weighting of one or more constituents of the Index. Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Index is concentrated.
C000048319 Holdings
Top 10 holdings of AZL S&P 500 Index Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corporation | 7.48% |
| Apple Inc. | 6.56% |
| Microsoft Corporation | 4.27% |
| Amazon.com, Inc. | 3.60% |
| Alphabet Inc. | 3.23% |
| Broadcom Inc. | 2.76% |
| Alphabet Inc. | 2.58% |
| Micron Technology, Inc. | 2.01% |
| Meta Platforms, Inc. | 1.91% |
| Tesla, Inc. | 1.83% |
C000048319 Portfolio Allocation
Asset-class allocation of AZL S&P 500 Index Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 0.5% |
C000048319 Performance
Total returns for C000048319 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 10.1% |
| 1 year | 22.1% |
| 3 years (annualised) | 20.4% |
| 5 years (annualised) | 13.1% |
C000048319 Risk Information
Risk metrics for C000048319, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.1%
C000048319 Costs and Fees
C000048319 costs about $25 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.25%
- Gross expense ratio: 0.25%
- Portfolio turnover: 4%
- Brokerage commissions: 0.14 bps of average net assets (SEC N-CEN)
C000048319 Cashflows
Over the 12 months to 2026-06, AZL S&P 500 Index Fund had net outflows of $185.92M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$48.75M |
| 2026-05 | −$94.75M |
| 2026-04 | −$77.85M |
| 2026-03 | −$20.10M |
| 2026-02 | −$24.23M |
| 2026-01 | −$27.74M |
C000048319 Debt Constituents
No individual debt constituents are reported in AZL S&P 500 Index Fund's latest SEC N-PORT filing.
C000048319 Prospectus and SEC Filings
Official AZL S&P 500 Index Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-27
- Prospectus (485BPOS) — filed 2024-04-29
- Prospectus supplement (497) — filed 2025-05-01
- Portfolio holdings (N-PORT) — filed 2026-08-25
- Portfolio holdings (N-PORT) — filed 2026-06-01
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-13
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.