Passive managers choose investments to form a portfolio that closely tracks a benchmark. A benchmark is a hypothetical portfolio of investment holdings. It represents a segment of a particular financial market. A benchmark (also known as an index) tracks the performance of a selected group of investments such as shares or bonds. Passive managers are sometimes known as index managers. They usually charge lower fees.
Note: Returns at market extremes will generally be greater (positive and negative) for the Indexed options compared to the equivalent Core and Socially Conscious options. This is because the Indexed style is less diversified (by asset class, investment style and managers).