Investment Options and Performance

Principal Protected Portfolios

Tuition Track Portfolio

Investment Objective

The Tuition Track Portfolio provides a defined benefit based on annual changes in Average Tuition and preserves principal prior to and after Maturity. Participation in the Tuition Track Portfolio requires that either the Account Owner or the Beneficiary be a Resident of Virginia at the time the account is opened. No additional Contributions to the Tuition Track Portfolio are allowed after June 30 of the year of the Expected Usage Date.

For more information about how the Tuition Track Portfolio works, view the Tuition Track Portfolio Overview.

Virginia Public University Average Tuition¹

Academic Year	Average Tuition	Unit Price	Percent Change by Year
2024 - 2025	$15,500	$155.00	2.65%
2023 - 2024	$15,100	$151.00	4.14%
2022 - 2023	$14,500	$145.00	4.44%
2021 - 2022	$13,884	$138.84	1.82%
2020 - 2021	$13,636	$136.36	1.80%
2019 - 2020	$13,395	$133.95	1.40%
2018 - 2019	$13,210	$132.10	5.73%
2017 - 2018	$12,494	$124.94	4.46%
2016 - 2017	$11,961	$119.61	N/A

¹Average Tuition and Unit Price values approximate enrollment-weighted average Tuition during each year and the Unit Price is 1% of each Average Tuition value. The information shown is for illustrative and informational purposes only. Performance results shown are hypothetical and not necessarily representative of past performance and should not be relied on to predict future performance. The cost to purchase Tuition Track Portfolio Units changes annually on or about July 15th.

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How to Interpret the Charts

The performance charts display historical performance for Invest529 portfolios. Two values are represented on each chart.

The first value is the daily Unit Price and is represented by the blue line on the chart. The second value is the percent change of the Unit Price based on a selected timeframe and is represented by the purple line. A date selector can be found underneath the chart that allows for custom date ranges to be chosen. These charts also feature the ability to zoom into pre-determined time periods (Note: Selecting a zoom period will not change the previously selected date range).

Key Terms:

Benchmark

An unmanaged group of securities whose overall performance is used as a standard to measure investment performance.

Net Asset Value (NAV)

The market value of a mutual fund's total assets, minus liabilities, divided by the number of shares outstanding. The value of a single share is called its share value or share price.

To view the full definitions, please see the official Invest529 Program Description.

Portfolio Fees

Unlike other Invest529 portfolios, no Asset-Based Fees are assessed on funds invested in the Tuition Track Portfolio. Fees for certain services or transactions may still apply.

Fee Type	Percent
Asset Management Fees	0.00%
Administrative Fee	0.00%
Expense Ratio	0.00%

Investment Strategy

The Tuition Track Portfolio shall be invested alongside the assets of the legacy Prepaid529 program as determined by the Board. As a defined benefit Portfolio, no Account Owner or Beneficiary shall have any interest in the earnings on the Portfolio nor direct the investment of any Contributions or any related earnings, either directly or indirectly. Virginia529’s Board is responsible for long-term Asset Allocation guidelines, Asset Allocation strategy and investment manager selection. At the Board’s direction, the Investment Advisory Committee is responsible for, among other things, interviewing, selecting and/or terminating investment managers, including mutual funds, which professionally manage the Tuition Track Portfolio. In carrying out these duties, the Board and the Investment Advisory Committee consult with the Board’s investment consultant, Mercer Investment Consulting, Inc., a registered investment advisor.

Investment Risks

Benefits are funded by Contributions to and Investments in the Tuition Track Portfolio and earnings on those Investments. Benefits accrue to Account Owners and Beneficiaries based on the annual changes to Average Tuition while preserving principal. There may be periods when Average Tuition declines from the prior year.