EQ/Balanced Strategy Portfolio

The fund invests in other mutual funds managed by Equitable Investment Management Group with day-to-day decisions delegated to one or more sub-advisers, targeting approximately 50% equity and 50% fixed income across small-, mid- and large-cap stocks, government and investment-grade securities, high-yield bonds, and mortgage-backed securities, with both domestic and foreign issuers represented. Some underlying portfolios employ tactical equity management that reduces stock exposure when market volatility exceeds specific thresholds, which may cause the fund to deviate significantly from its target allocation and underperform during rising markets. The fund may also use derivatives including futures to reduce risk or enhance returns.