Federated Mid-Cap Index Fund (IS) FMCRX

Mutual funds are subject to risks and fluctuate in value.

Diversification does not assure a profit nor protect against loss.

The fund’s Institutional Shares commenced operations on January 11, 2012. For the period prior to the commencement of operations of the Institutional Shares, the performance information shown is for the fund’s Service Shares, adjusted to remove any voluntary waiver of fund expenses related to the Service Shares that may have occurred prior to commencement of operations of the Institutional Shares. See the prospectus for other fees and expenses that apply to a continued investment in the fund.

S&P MidCap 400 Index is an unmanaged capitalization weighted index of common stocks representing all major industries in the mid-range of the U.S. stock market. "Standard & Poor's®", "S&P®", "S&P MidCap 400 Index", and "Standard & Poor's MidCap 400 Index" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Federated Securities Corp. The fund is not sponsored, endorsed, sold or promoted by, or affiliated with, Standard & Poor’s ("S&P"). S&P makes no representation or warranty, express or implied, to the owners of the fund or any member of the public regarding the advisability of investing in securities generally or in the fund particularly or the ability of the S&P 400 Index to track general stock market performance.

Mid-capitalization companies often have narrower markets and limited managerial and financial resources compared to larger and more established companies.

"Category" product classifications noted at the top are Federated's internal classifications.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Federated Securities Corp., Distributor