U.S. Small and Mid Cap Equity Fund
Data updated: 2026-08-27
C000254990 — U.S. Small and Mid Cap Equity Fund. United States Mid Cap Blend / Core Equity · $110.48M AUM. Holdings, fees, performance and SEC filings.
C000254990 Fund Overview
U.S. Small and Mid Cap Equity Fund is a US mutual fund managed by American Funds Insurance Series, categorised as United States Mid 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: American Funds Insurance Series
- Category: United States Mid Cap Blend / Core Equity
- Assets under management: $110.48M
- 1-year return: 22.7%
- SEC CIK: 0000729528
- SEC series ID: S000088658
- Share class ID: C000254990
C000254990 Investment Objective and Strategy
U.S. Small and Mid Cap Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by American Funds Insurance Series.
Investment objective
The funds investment objective is to seek capital appreciation.
Principal investment strategy
Under normal market conditions, the fund invests at least 80% of its net assets in common stocks and other equity-type securities (including preferred stock, convertible securities and hybrid securities) of small and mid-capitalization companies in the United States. The investment adviser currently defines small and mid-capitalization companies to be companies whose market capitalizations typically fall within the range of the Russell 2500 Index or the Russell Midcap Index. As of July 1, 2025, the largest company for the Russell 2500 Index had a market capitalization of approximately $24.1 billion and the largest company for the Russell Midcap Index had a market capitalization of approximately $83.3 billion. The market capitalization of the companies included in the Russell 2500 Index and the Russell Midcap Index will change with market conditions.
The fund strives to maintain a fully invested portfolio. The fund is nondiversified, which allows it to invest a greater percentage of its assets in any one issuer than would otherwise be the case. The investment adviser uses a system of multiple portfolio managers in managing the funds assets. Under this approach, a portfolio is divided into segments managed by individual managers. For more information regarding the investment process of the fund, see the Management and organization section of this prospectus. The fund relies on the professional judgment of its investment adviser to make decisions about the funds portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively valued companies that, in its opinion, represent good, long-term investment opportunities.
Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
C000254990 Holdings
Top 10 holdings of U.S. Small and Mid Cap Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Capital Group Central Cash Fund | 3.81% |
| Bloom Energy Corp. | 2.60% |
| Doordash, Inc. | 1.78% |
| Comfort Systems USA, Inc. | 1.76% |
| Wex, Inc. | 1.66% |
| Cerebras Systems, Inc. | 1.63% |
| Renaissancere Holdings Ltd. | 1.60% |
| Nike, Inc. | 1.57% |
| Exelon Corp. | 1.55% |
| US Foods Holding Corp. | 1.53% |
C000254990 Portfolio Allocation
Asset-class allocation of U.S. Small and Mid Cap Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.6% |
| Cash & Equivalents | 3.8% |
C000254990 Performance
Total returns for C000254990 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 13.8% |
| 1 year | 22.7% |
C000254990 Risk Information
Risk metrics for C000254990, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.5%
C000254990 Costs and Fees
C000254990 costs about $54 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.54%
- Gross expense ratio: 0.62%
- Portfolio turnover: 82%
- Brokerage commissions: 8.33 bps of average net assets (SEC N-CEN)
C000254990 Cashflows
Over the 12 months to 2026-06, U.S. Small and Mid Cap Equity Fund had net inflows of $79.15M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$2.75M |
| 2026-05 | $1.17M |
| 2026-04 | $2.91M |
| 2026-03 | $917.30K |
| 2026-02 | −$2.36M |
| 2026-01 | −$2.66M |
C000254990 Debt Constituents
No individual debt constituents are reported in U.S. Small and Mid Cap Equity Fund's latest SEC N-PORT filing.
C000254990 Prospectus and SEC Filings
Official U.S. Small and Mid Cap Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-10-31
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-17
Related Funds
Other United States Mid 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.