0001193125-18-161728.txt : 20180514 0001193125-18-161728.hdr.sgml : 20180514 20180514091643 ACCESSION NUMBER: 0001193125-18-161728 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 40 FILED AS OF DATE: 20180514 DATE AS OF CHANGE: 20180514 EFFECTIVENESS DATE: 20180514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STATE FARM VARIABLE PRODUCT TRUST CENTRAL INDEX KEY: 0001034633 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-22467 FILM NUMBER: 18828909 BUSINESS ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 BUSINESS PHONE: 8004470740 MAIL ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STATE FARM VARIABLE PRODUCT TRUST CENTRAL INDEX KEY: 0001034633 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-08073 FILM NUMBER: 18828910 BUSINESS ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 BUSINESS PHONE: 8004470740 MAIL ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 0001034633 S000002059 State Farm Money Market Fund C000005414 State Farm Money Market Fund 0001034633 S000002060 State Farm Large Cap Equity Index Fund C000005415 State Farm Large Cap Equity Index Fund 0001034633 S000002061 State Farm Small Cap Equity Index Fund C000005416 State Farm Small Cap Equity Index Fund 0001034633 S000002062 State Farm International Equity Index Fund C000005417 State Farm International Equity Index Fund 0001034633 S000002063 State Farm Bond Fund C000005418 State Farm Bond Fund 0001034633 S000002064 State Farm Stock and Bond Balanced Fund C000005419 State Farm Stock and Bond Balanced Fund 0001034633 S000002065 State Farm Small Mid Cap Equity Fund C000005420 State Farm Small Mid Cap Equity Fund 0001034633 S000002066 State Farm International Equity Fund C000005421 State Farm International Equity Fund 0001034633 S000002067 State Farm Large Cap Equity Fund C000005422 State Farm Large Cap Equity Fund 485BPOS 1 d501126d485bpos.htm STATE FARM VARIABLE PRODUCT TRUST State Farm Variable Product Trust

As filed with the Securities and Exchange Commission on May 14, 2018

Securities Act Registration No. 333-22467

Investment Company Act File No. 811-08073


SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

Post-Effective Amendment No. 41

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

Amendment No. 42

 


 

State Farm Variable Product Trust

(Exact name of Registrant as Specified in Charter)

 


 

One State Farm Plaza, Bloomington, Illinois   61710-0001
(Address of Principal Executive Offices)   (Zip Code)

 


 

Registrant’s Telephone Number, including Area Code (888) 702-2307

 

    Alan Goldberg
Joe R. Monk, Jr.   Stradley Ronon Stevens & Young, LLP
One State Farm Plaza   191 North Wacker Drive, Suite 1601
Bloomington, Illinois 61710-0001   Chicago, Illinois 60606

(Names and addresses of agents for service)

 


 

Amending Parts A, B and C, and filing exhibits

 

It is proposed that this filing will become effective:

 

  Immediately upon filing pursuant to rule 485(b)

 

  on May 1, 2015 pursuant to rule 485(b)

 

  60 days after filing pursuant to rule 485(a)(1)

 

  on                      pursuant to rule 485(a)(1)

 

  75 days after filing pursuant to rule 485(a)(2)

 

  on                      pursuant to rule 485(a)(2)

 



SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, State Farm Variable Product Trust, certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule
485(b) under the Securities Act of 1933 and has duly caused this amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Bloomington, and State of Illinois on the 14th day of May 2018.

 

STATE FARM VARIABLE PRODUCT TRUST
By:  

/s/ Joe R. Monk, Jr.

  Joe R. Monk, Jr.
  Trustee, President and Chairperson of the Board

Pursuant to the Securities Act of 1933, this post-effective amendment has been signed below by the following persons in the capacities and on the dates indicated.

 

Signature        

 

Title    

  

Date    

/s/ Joe R. Monk, Jr.

  Trustee, President and Chairperson of the Board   

May 14, 2018

Joe R. Monk, Jr.     

 

    
*Paul J. Smith   Trustee, Senior Vice President and Treasurer   

May 14, 2018

 

    
*Thomas M. Mengler   Trustee   

May 14, 2018

 

    
*Victor J. Boschini   Trustee   

May 14, 2018

 

    
*David L. Vance   Trustee   

May 14, 2018

 

    
*Alan R. Latshaw   Trustee   

May 14, 2018

 

    
*Anita M. Nagler   Trustee    May 14, 2018

 

By:  

/s/ David Moore

  David Moore
  Attorney-In-Fact
  May 14, 2018

 

* Original powers of attorney authorizing David Moore, among others, to execute this Registration Statement, and Amendments thereto, for the trustee of the Registrant on whose behalf this Registration Statement is filed, have been executed and are incorporated by reference from post-effective amendment 40 on Form N-1A, No. 333-22467, filed April 27, 2018.


EXHIBIT INDEX

 

Index No.

  

Description of Exhibit

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 sfvpt-20180427.xml XBRL INSTANCE DOCUMENT 0001034633 2018-05-01 2018-05-01 0001034633 sfvpt:S000002059Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002059Member sfvpt:C000005414Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002060Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002060Member sfvpt:C000005415Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002061Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002061Member sfvpt:C000005416Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002062Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002062Member sfvpt:C000005417Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002067Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002067Member sfvpt:C000005422Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002065Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002066Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002066Member sfvpt:C000005421Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002063Member sfvpt:C000005418Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002063Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002064Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002064Member sfvpt:C000005419Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002065Member sfvpt:C000005420Member 2018-05-01 2018-05-01 0001034633 sfvpt:S000002060Member sfvpt:SAndPFiveHundredIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002061Member sfvpt:RussellTwoThousandReturnsreflectnodeductionforfeesexpensesortaxesMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002067Member sfvpt:SAndPFiveHundredIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002062Member sfvpt:EFEFreeIndexReturnsreflectnodeductionforfeesexpensesortaxesMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002065Member sfvpt:RusselTwentyFiveHundredIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002064Member sfvpt:SAndPFiveHundredIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002064Member sfvpt:BloombergBarclaysIntermediateGovtCredIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002064Member sfvpt:BlendedBenchmarkReturnsMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002066Member sfvpt:MsciAcwiexUsIndexMember 2018-05-01 2018-05-01 0001034633 sfvpt:S000002063Member sfvpt:BloombergBarclaysIntermediateGovtCredIndexMember 2018-05-01 2018-05-01 pure iso4217:USD 2018-05-01 485BPOS 2017-12-31 STATE FARM VARIABLE PRODUCT TRUST 0001034633 false 2018-04-27 2018-05-01 <b>MONEY MARKET FUND</b> <b>Investment Objective:</b> The Money Market Fund (the &#8220;Fund&#8221;) seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Principal Investment Strategies </b> Under normal conditions, the Fund invests its assets primarily (at least 99.5%) in: <ul type="square"><li> Debt securities issued or guaranteed by the U.S. government, or by U.S. government agencies or instrumentalities, </li></ul><ul type="square"><li> Cash, and </li></ul><ul type="square"><li> Repurchase agreements fully collateralized by U.S. Treasury and U.S. government securities.</li></ul>The Fund is managed in the following manner: <ul type="square"><li> The Fund seeks to maintain a net asset value (&#8220;NAV&#8221;) of $1.00 per share. </li></ul><ul type="square"><li> The dollar-weighted average maturity of the Fund will be 60 days or less and the dollar-weighted average life to maturity will be 120 days or less. </li></ul><ul type="square"><li> The Fund will only buy securities that have remaining maturities of 397 days or less or securities otherwise permitted to be purchased because of maturity shortening provisions under applicable regulation. </li></ul><ul type="square"><li> The Fund invests only in U.S. dollar-denominated securities. </li></ul><ul type="square"><li> The Fund seeks to invest in securities that present minimal credit risk. </li></ul>The Fund intends to qualify as a &#8220;government money market fund&#8221; as defined in, or interpreted in accordance with, Rule 2a-7 under the Investment Company Act of 1940, as amended. &#8220;Government money market funds&#8221; are required to invest at least 99.5% of their assets in (i) cash, (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities and/or (iii) repurchase agreements that are collateralized fully. Government money market funds like the Fund are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates. While the Board of Trustees of State Farm Variable Product Trust may elect to subject the Fund to liquidity fee and gate requirements in the future, the Board of Trustees has elected not to do so at this time. <br/><br/>The Fund&#8217;s adviser, State Farm Investment Management Corp. (&#8220;SFIM&#8221;), seeks to develop an appropriate portfolio of securities for the Fund by considering the differences in yields among securities of different maturities, market sectors and issuers. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment by maintaining a stable NAV of $1.00 per share, the Fund may not succeed and you may lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. The Fund&#8217;s adviser has no legal obligation to provide financial support to the Fund, and you should not expect that the adviser will provide financial support to the Fund at any time. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Management Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The assessment by the Fund&#8217;s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Interest Rate Risk and Call Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will &#8220;call&#8221; or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond. </li></ul><ul type="square"><li> <b>Credit Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls. </li></ul><ul type="square"><li> <b>Income Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio&#8217;s current earnings rate. </li></ul><ul type="square"><li> <b>Inflation Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money. </li></ul><ul type="square"><li> <b>Government Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity, and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities. </li></ul><ul type="square"><li> <b>Transactions Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. </li></ul><ul type="square"><li> <b>Net Asset Value Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;There is no assurance that the Fund will maintain a net asset value of $1.00 per share on a continuous basis. Furthermore, there can be no assurance that the Fund&#8217;s sponsor will purchase distressed assets from the Fund, make capital infusions, enter into capital support agreements or take other actions to ensure that the Fund maintains a net asset value of $1.00 per share. In the event any money market fund fails to maintain a stable net asset value, other money market funds, including the Fund, could face a universal risk of increased redemption pressures, potentially jeopardizing the stability of their net asset values. In general, certain other money market funds have in the past failed to maintain stable net asset values and there can be no assurance that such failures and resulting redemption pressures will not occur in the future. </li></ul>An investment in the Fund may be appropriate for you if you seek stability of principal, an investment for the cash portion of an asset allocation plan or are looking for an investment with a lower degree of risk. The Fund may not be suitable for you if you are seeking an investment that is likely to significantly outpace inflation, are investing for retirement or other longer term goals or are investing for growth or maximum current income. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were: <br/><br/>Best quarter: 0.79%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the first quarter of 2008. <br/><br/>Worst quarter: 0.00%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2016. The following table shows the average annual total return on an investment in the Fund for the 1, 5 and 10-year periods ended 12/31/2017. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> The Money Market Fund&#8217;s current 7-day yield on December 31, 2017 was 1.0325%. Please note that the amount of &#8220;Total Annual Fund Operating Expenses&#8221; shown in the above table differs from the ratio of expenses to average net assets included in the &#8220;Financial Highlights&#8221; section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment by maintaining a stable NAV of $1.00 per share, the Fund may not succeed and you may lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. The Money Market Fund&#8217;s current 7-day yield on December 31, 2017 2016-06-30 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <b>LARGE CAP EQUITY INDEX FUND</b> <b>Investment Objective:</b> The Large Cap Equity Index Fund (the &#8220;Fund&#8221;) seeks to match performance of the S&amp;P 500<sup>&#174;</sup> Index (the &#8220;S&amp;P 500&#8221;) by investing in the securities that make up the S&amp;P 500. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 3% of the average value of its portfolio. <b>Principal Investment Strategies </b> The Fund seeks to achieve investment performance that is similar to the S&amp;P 500 (the Fund&#8217;s target benchmark). The S&amp;P 500 is a widely used measure of large U.S. company stock performance. Standard &amp; Poor&#8217;s (&#8220;S&amp;P&#8221;) selects stocks for the S&amp;P 500 based upon the following factors: <ul type="square"><li> market value </li></ul><ul type="square"><li> industry group classification (so that the S&amp;P 500 represents a broad range of industry segments within the U.S. economy) </li></ul><ul type="square"><li> trading activity, to ensure ample liquidity and efficient share pricing </li></ul><ul type="square"><li> fundamental analysis, to ensure that companies in the S&amp;P 500 are stable </li></ul>The Fund pursues its investment objective by: <ul type="square"><li> investing in substantially all of the securities that make up the S&amp;P 500 </li></ul><ul type="square"><li> investing in these securities in proportions that match, approximately, the weightings of the S&amp;P 500 </li></ul>Under normal operating conditions, the Fund seeks to invest at least 90% of its total assets in stocks that are represented in the S&amp;P 500. <br/><br/>BlackRock Fund Advisors (&#8220;BFA&#8221;), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock markets are volatile. The price of equity securities fluctuates based on changes in a company&#8217;s financial condition and overall market and economic conditions. </li></ul><ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Index Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly. </li></ul><ul type="square"><li> <b>Security Selection Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (&#8220;SFIM&#8221; or the &#8220;Manager&#8221;) or the Fund&#8217;s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund&#8217;s sub-adviser researching individual stocks might avoid. </li></ul><ul type="square"><li> <b>Concentration Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were: <br/><br/>Best quarter: 15.80%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009. <br/><br/>Worst quarter: -21.87%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&amp;P 500 for the 1, 5 and 10-year periods ended 12/31/2017. The S&amp;P 500 is a capitalization-weighted measure of the common stocks of 500 large U.S. companies. The S&amp;P 500 represents an unmanaged group of stocks that differ from the composition of the Fund. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> <b>SMALL CAP EQUITY INDEX FUND</b> <b>Investment Objective:</b> The Small Cap Equity Index Fund (the &#8220;Fund&#8221;) seeks to match performance of the Russell 2000<sup>&#174;</sup> Small Stock Index (the &#8220;Russell 2000&#8221;) by investing in some of the stocks found in the Russell 2000. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 12% of the average value of its portfolio. <b>Principal Investment Strategies </b> The Fund invests in stocks of companies that are included in the Russell 2000 Small Stock Index (the &#8220;Russell 2000 Index&#8221;) in a manner that is expected to approximate the performance of the Russell 2000 Index, the benchmark index. The Russell 2000 Index is an index of 2,000 small companies that is created by taking the largest 3,000 companies traded in the U.S and eliminating the largest 1,000 of these companies. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the Russell 2000 Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the Russell 2000 Index in weights that approximate the relative composition of the securities contained in the index. <br/><br/>BlackRock Fund Advisors (the &#8220;BFA&#8221;), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock markets are volatile. The price of equity securities fluctuates based on changes in a company&#8217;s financial condition and overall market and economic conditions. </li></ul><ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Smaller Company Size Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The securities of small capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund&#8217;s investments may not be actively traded, which increases the risk that the Fund&#8217;s investment adviser or sub-adviser may have difficulty selling securities the Fund holds. </li></ul><ul type="square"><li> <b>Index Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly. </li></ul><ul type="square"><li> <b>Security Selection Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the &#8220;Manager&#8221; or &#8220;SFIM&#8221;) or the Fund&#8217;s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund&#8217;s sub-adviser researching individual stocks might avoid. </li></ul><ul type="square"><li> <b>Financial Sector Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may invest 25% or more of its net assets in securities issued by companies in the financial sector. The market value of securities of issuers in the financial sector can be affected by various factors, such as adverse regulatory or economic occurrences, availability of credit, fluctuations in asset values, unstable interest rates, increased competition, continuing consolidations and development of new products and structures. Furthermore, increased government involvement in financial institutions could adversely impact the value of such institutions. </li></ul><ul type="square"><li> <b>Concentration Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were: <br/><br/>Best quarter: 20.51%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009. <br/><br/>Worst quarter: -26.13%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2000 for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2000 Small Stock Index tracks the common stock performance of the 2,000 smallest U.S. companies in the Russell 3000 Index, which represents approximately 10% of the total capitalization of the Russell 3000 Index. Unlike an investment in the Fund, returns of the Russell 2000 do not reflect expenses of investing. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. Best quarter: 2008-03-31 Worst quarter: Best quarter: 2009-06-30 Worst quarter: Best quarter: 2009-06-30 Worst quarter: 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <b>INTERNATIONAL EQUITY INDEX FUND</b> <b>Investment Objective:</b> The International Equity Index Fund (the &#8220;Fund&#8221;) seeks to match performance of the MSCI Europe, Australasia, and Far East Free Index (the &#8220;EAFE<sup>&#174;</sup> Free&#8221;) by investing in some of the stocks found in the EAFE Free. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> <b>Principal Investment Strategies </b> The Fund invests in stocks of companies that are included in the EAFE Free Index in a manner that is expected to approximate the performance of the EAFE Free Index, the benchmark index. The EAFE Free Index is a capitalization-weighted index that currently includes stocks of companies located in 15 European countries, Australia, Israel, New Zealand, Hong Kong, Japan and Singapore. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the EAFE Free Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the EAFE Free Index in weights that approximate the relative composition of the securities contained in the index. <br/><br/>BlackRock Fund Advisors (the &#8220;BFA&#8221;), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock markets are volatile. The price of equity securities fluctuates based on changes in a company&#8217;s financial condition and overall market and economic conditions. </li></ul><ul type="square"><li> <b>Market Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Foreign Investing Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market. </li></ul><ul type="square"><li> <b>Management Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Index Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly. </li></ul><ul type="square"><li> <b>Security Selection Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the &#8220;Manager&#8221; or &#8220;SFIM&#8221;) or to the Fund&#8217;s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund&#8217;s sub-adviser researching individual stocks might avoid. </li></ul><ul type="square"><li> <b>Concentration Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were: <br/><br/>Best quarter: 25.25%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009. <br/><br/>Worst quarter: -20.17%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the third quarter of 2011. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the EAFE Free for the 1, 5 and 10-year periods ended 12/31/2017. The EAFE Free currently measures the performance of stock markets in Europe, Australia, New Zealand, Israel, Hong Kong, Japan, and Singapore, and takes into account local market restrictions on share ownership by foreigners. The EAFE Free is meant to reflect actual opportunities for foreign investors in a local market. Unlike an investment in the Fund, returns of the EAFE Free do not reflect expenses of investing. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 2011-09-30 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <b>LARGE CAP EQUITY FUND</b> <b>Investment Objective:</b> The Large Cap Equity Fund (or the &#8220;Fund&#8221;) seeks long-term growth of capital. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 55% of the average value of its portfolio. <b>Principal Investment Strategies </b> Two different investment sub-advisers, Bridgeway Capital Management, Inc. (&#8220;Bridgeway&#8221;) and Westwood Management Corp. (&#8220;Westwood&#8221;), select investments for the Fund. Bridgeway and Westwood each manage approximately one-half of the Fund&#8217;s portfolio. State Farm Investment Management Corp. (the &#8220;Manager&#8221; or &#8220;SFIM&#8221;) monitors the performance of the sub-advisers and the allocation of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below. <br/><br/><b>Bridgeway </b><br/><br/>Bridgeway primarily invests its portion of the Fund in a diversified portfolio of large growth stocks. Bridgeway defines &#8220;large stocks&#8221; as those whose market capitalization (stock market worth) falls within the range of the Russell 1000 Index, an unmanaged, market value weighted index, which measures performance of approximately 1,000 of the largest companies in the market with dividends reinvested. The Russell 1000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Growth stocks are those that Bridgeway believes have above average prospects for economic growth. Bridgeway selects stocks within the large-cap growth category for the Fund using a statistically driven approach. Under normal conditions, at least 80% of Bridgeway&#8217;s portion of the Fund&#8217;s net assets (plus borrowings for investment purposes) are invested in stocks from among those in the large-cap growth category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it &#8220;migrates&#8221; to a different category after purchase. <br/><br/>Bridgeway may invest up to 10% of its segment of the Fund&#8217;s assets primarily in common stocks and depository receipts of foreign companies. <br/><br/><b>Westwood </b><br/><br/>Under normal market conditions, Westwood invests at least 80% of its portion of the Fund&#8217;s assets (which includes, for purposes of this test, the amount of any borrowings for investment purposes) primarily in common stocks and other equity securities of large capitalization companies, including foreign companies. Westwood invests in a portfolio of seasoned companies utilizing a value style of investing in which it chooses those stocks that Westwood believes have earnings prospects that are currently undervalued by the market relative to some financial measure of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Westwood defines large capitalization companies as those companies with market capitalizations generally greater than $5 billion at the time of purchase, while seasoned companies generally have been operating for at least three years. <br/><br/>In selecting securities, Westwood maintains a list of approved securities of issuers which it believes have proven records and potential for above-average earnings growth. Westwood considers purchasing a security on such list if Westwood&#8217;s forecast for growth rates and earnings for that issuer exceeds Wall Street expectations. Other key metrics for evaluating the risk/return profile of an investment include an improving return on equity, a declining debt to equity ratio and, in the case of common equities, positive earnings surprises without a corresponding increase in Wall Street estimates. Westwood has disciplines in place that serve as sell signals, such as a security reaching a pre-determined price target, and/or a fundamental change that negatively impacts the outlook and original investment thesis. The risk characteristics of Westwood&#8217;s portion of the Fund, such as beta (a measure of volatility), are generally expected to be less than those of the S&amp;P 500 Index, the Fund&#8217;s benchmark. <br/><br/>Both Bridgeway and Westwood may sell individual securities for several reasons including: investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the &#8220;FDIC&#8221;) or another government agency. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders. </li></ul><ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Foreign Investing Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market. </li></ul><ul type="square"><li> <b>Management Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were: <br/><br/>Best quarter: 13.08%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the first quarter of 2012. <br/><br/>Worst quarter: -24.02%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The S&P 500 Index is a capitalization-weighted measure of the common stocks of 500 large U.S. companies. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the &#8220;FDIC&#8221;) or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <b>SMALL/MID CAP EQUITY FUND </b> <b>Investment Objective:</b> The Small/Mid Cap Equity Fund (or the &#8220;Fund&#8221;) seeks long-term growth of capital. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the Total Annual Fund Operating Expenses after Fee Waiver in the first year, and the Total Annual Fund Operating Expenses for periods thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 96% of the average value of its portfolio. <b>Principal Investment Strategies </b> State Farm Investment Management Corp. (the &#8220;Manager&#8221; or &#8220;SFIM&#8221;) has hired Bridgeway Capital Management, Inc. (&#8220;Bridgeway&#8221;) to select investments for approximately one-half of the Small/Mid Cap Equity Fund&#8217;s portfolio. The Manager monitors the performance of Bridgeway and the allocation of the Small/Mid Cap Equity Fund&#8217;s portfolio to Bridgeway. The Manager invests the other one-half of the Small/Mid Cap Equity Fund&#8217;s portfolio in shares of the iShares Core S&amp;P Mid-Cap ETF, ticker symbol IJH, an exchange traded fund advised by BlackRock Fund Advisors (&#8220;BFA&#8221;). The iShares Core S&amp;P Mid-Cap EFT seeks to track the investment results of the S&amp;P Mid-Cap 400<sup>&#174;</sup> (the &#8220;Underlying Index&#8221;). The Underlying Index measures the performance of the mid-capitalization sector of the U.S. equity market. The principal investment strategies employed by Bridgeway for its portion of the Small/Mid Cap Equity Fund&#8217;s portfolio and the principal investment strategies of BFA in managing the iShares Core S&amp;P Mid-Cap ETF are discussed separately below. <br/><br/><b>Bridgeway </b><br/><br/>Bridgeway primarily invests its segment of the Fund in a diversified portfolio of small capitalization stocks. Bridgeway defines &#8220;small stocks&#8221; as those whose market capitalization (stock market value) falls within the range of the Russell 2000 Index, an unmanaged, market value weighted index, which measures performance of approximately 2,000 companies that are between the 1,000th and 3,000th largest in the market with dividends reinvested. The Russell 2000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Bridgeway selects stocks using a statistically driven approach. <br/><br/>Bridgeway invests in small capitalization stocks in the &#8220;value&#8221; category, which it defines as those stocks that Bridgeway believes are priced cheaply relative to some financial measures of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Under normal conditions, at least 80% of Bridgeway&#8217;s portion of the Fund&#8217;s net assets (plus borrowings for investment purposes) is invested in stocks from among those in the small cap value category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it &#8220;migrates&#8221; to a different category after purchase. <br/><br/>Bridgeway may invest up to 10% of its segment of the Fund&#8217;s assets primarily in common stocks and depository receipts of foreign companies. <br/><br/>Bridgeway may sell individual securities for several reasons including: the investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <br/><br/><b>The Manager&#8217;s Investment of Fund Assets in the iShares Core S&amp;P Mid-Cap ETF </b><br/><br/>The Manager invests approximately one-half of the Small/Mid Cap Equity Fund&#8217;s portfolio in shares of the iShares Core S&amp;P Mid-Cap ETF. The following discussion relates to the principal investment strategies of the iShares Core S&amp;P Mid-Cap ETF. <br/><br/>The iShares Core S&amp;P Mid-Cap ETF seeks to track the investment results of the Underlying Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of March 30, 2018, the Underlying Index included approximately 6.23% of the market capitalization of all U.S. equity securities. As of March 30, 2018, the stocks in the Underlying Index have a market capitalization between $1.6 billion and $6.8 billion at time of entry, which may fluctuate depending on the overall level of the equity markets, and are selected for liquidity and industry group representation. The Underlying Index consists of stocks from a broad range of industries. Components primarily include financials, industrials and information technology companies. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time. <br/><br/>BFA uses a &#8220;passive&#8221; or indexing approach to try to achieve the iShares Core S&amp;P Mid-Cap ETF&#8217;s investment objective. Unlike many investment companies, the iShares Core S&amp;P Mid-Cap ETF does not try to &#8220;beat&#8221; the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. <br/><br/>Indexing may eliminate the chance that the iShares Core S&amp;P Mid-Cap ETF will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies. <br/><br/>BFA uses a representative sampling indexing strategy to manage the iShares Core S&amp;P Mid-Cap ETF. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Underlying Index. The iShares Core S&amp;P Mid-Cap ETF may or may not hold all of the securities in the Underlying Index. <br/><br/>The iShares Core S&amp;P Mid-Cap ETF generally invests at least 90% of its assets in securities of the Underlying Index and in depositary receipts representing securities of the Underlying Index. The iShares Core S&amp;P Mid-Cap ETF may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the iShares Core S&amp;P Mid-Cap ETF track the Underlying Index. The iShares Core S&amp;P Mid-Cap ETF seeks to track the investment results of the Underlying Index before fees and expenses of the iShares Core S&amp;P Mid-Cap ETF. <br/><br/>The iShares Core S&amp;P Mid-Cap ETF may lend securities representing up to one-third of the value of the iShares Core S&amp;P Mid-Cap ETF&#8217;s total assets (including the value of any collateral received). <br/><br/>The Underlying Index is a product of S&amp;P Dow Jones Indices LLC (the &#8220;Index Provider&#8221; or &#8220;SPDJI&#8221;), which is independent of the iShares Core S&amp;P Mid-Cap ETF and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. <br/><br/><b>Industry Concentration Policy.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks: <br/><br/><b>Underlying Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Because it invests approximately 50% of its assets in the iShares Core S&amp;P Mid-Cap ETF, the Fund&#8217;s investment performance significantly depends on the investment performance of that underlying ETF. An investment in the Fund is subject to the risks associated with the iShares Core S&amp;P Mid-Cap ETF. In particular, the Fund may be subject to the following risks as a result of its investment in the iShares Core S&amp;P Mid-Cap ETF: <ul type="square"><li> <b>Asset Class Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Securities and other assets in the Underlying Index or in the iShares Core S&amp;P Mid-Cap ETF&#8217;s portfolio may underperform in comparison to the general financial markets, a particular financial market or other asset classes. </li></ul><ul type="square"><li> <b>Assets under Management (AUM) Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>From time to time, an Authorized Participant (as defined in the Creations and Redemptions section of the iShares Core S&amp;P Mid-Cap ETF&#8217;s prospectus), a third party investor, the iShares Core S&amp;P Mid-Cap ETF investment adviser or any affiliate of the iShares Core S&amp;P Mid-Cap ETF investment adviser, or a fund may invest in the iShares Core S&amp;P Mid-Cap ETF and hold its investment for a specific period of time in order to facilitate commencement of the iShares Core S&amp;P Mid-Cap ETF&#8217;s operations or for the Fund to achieve size or scale. There can be no assurance that any such entity would not redeem its investment or that the size of the iShares Core S&amp;P Mid-Cap ETF would be maintained at such levels, which could negatively impact the iShares Core S&amp;P Mid-Cap ETF.</li></ul><ul type="square"><li> <b>Authorized Participant Concentration Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Only an Authorized Participant may engage in creation or redemption transactions directly with the iShares Core S&amp;P Mid-Cap ETF. The iShares Core S&amp;P Mid-Cap ETF has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). To the extent that Authorized Participants exit the business or are unable to proceed with creation and/or redemption orders with respect to the iShares Core S&amp;P Mid-Cap ETF and no other Authorized Participant is able to step forward to create or redeem Creation Units (as defined in the Purchase and Sale of iShares Core S&amp;P Mid-Cap ETF Shares section of the iShares Core S&amp;P Mid-Cap ETF&#8217;s Prospectus), iShares Core S&amp;P Mid-Cap ETF shares may be more likely to trade at a premium or discount to net asset value (&#8220;NAV&#8221;) and possibly face trading halts and/or delisting. </li></ul><ul type="square"><li> <b>Concentration Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF may be susceptible to an increased risk of loss, including losses due to adverse events that affect the iShares Core S&amp;P Mid-Cap ETF&#8217;s investments more than the market as a whole, to the extent that the iShares Core S&amp;P Mid-Cap ETF&#8217;s investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class. </li></ul><ul type="square"><li> <b>Cyber Security Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Failures or breaches of the electronic systems of the iShares Core S&amp;P Mid-Cap ETF, the iShares Core S&amp;P Mid-Cap ETF&#8217;s investment adviser, distributor, and other service providers, market makers, Authorized Participants or the issuers of securities in which the iShares Core S&amp;P Mid-Cap ETF invests have the ability to cause disruptions and negatively impact the iShares Core S&amp;P Mid-Cap ETF&#8217;s business operations, potentially resulting in financial losses to the iShares Core S&amp;P Mid-Cap ETF and its shareholders. While the iShares Core S&amp;P Mid-Cap ETF has established business continuity plans and risk management systems seeking to address system breaches or failures, there are inherent limitations in such plans and systems. Furthermore the iShares Core S&amp;P Mid-Cap ETF cannot control the cyber security plans and systems of the iShares Core S&amp;P Mid-Cap ETF&#8217;s service providers, the Index Provider, market makers, Authorized Participants or issuers of securities in which the iShares Core S&amp;P Mid-Cap ETF invests. </li></ul><ul type="square"><li> <b>Index-Related Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;There is no guarantee that the iShares Core S&amp;P Mid-Cap ETF will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the iShares Core S&amp;P Mid-Cap ETF&#8217;s ability to adjust its exposure to the required levels in order to track the Underlying Index. Errors in index data, index computations and/or the construction of the Underlying Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the iShares Core S&amp;P Mid-Cap ETF and its shareholders. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;As the iShares Core S&amp;P Mid-Cap ETF may not fully replicate the Underlying Index, and it is subject to the risk that the iShares Core S&amp;P Mid-Cap ETF&#8216;s investment strategy may not produce the intended results. </li></ul><ul type="square"><li> <b>Market Trading Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF faces numerous market trading risks, including the potential lack of an active market for iShares Core S&amp;P Mid-Cap ETF shares, losses from trading in secondary markets, periods of high volatility and disruptions in the creation/redemption process. Any of these factors, among others, may lead to the iShares Core S&amp;P Mid-Cap ETF&#8217;s shares trading at a premium or discount to net asset value. </li></ul><ul type="square"><li> <b>Operational Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the iShares Core S&amp;P Mid-Cap ETF&#8217;s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The iShares Core S&amp;P Mid-Cap ETF and its investment adviser seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks. </li></ul><ul type="square"><li> <b>Passive Investment Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF is not actively managed and generally does not attempt to take defensive positions under any market conditions, including declining markets. </li></ul><ul type="square"><li> <b>Securities Lending Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF may engage in securities lending. Securities lending involves the risk that the iShares Core S&amp;P Mid-Cap ETF may lose money because the borrower of the loaned securities fails to return the securities in a timely manner or at all. The iShares Core S&amp;P Mid-Cap ETF could also lose money in the event of a decline in the value of collateral provided for loaned securities or a decline in the value of any investments made with cash collateral. These events could also trigger adverse tax consequences for the iShares Core S&amp;P Mid-Cap ETF. </li></ul><ul type="square"><li> <b>Tracking Error Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Tracking error is the divergence of the iShares Core S&amp;P Mid-Cap ETF&#8217;s performance from that of the Underlying Index. Tracking error may occur because of differences between the securities and other instruments held in the iShares Core S&amp;P Mid-Cap ETF&#8217;s portfolio and those included in the Underlying Index, pricing differences (including differences between a security&#8217;s price at the local market close and the iShares Core S&amp;P Mid-Cap ETF&#8217;s valuation of a security at the time of calculation of the iShares Core S&amp;P Mid-Cap ETF&#8217;s NAV), transaction costs, the iShares Core S&amp;P Mid-Cap ETF&#8217;s holding of uninvested cash, differences in timing of the accrual of or the valuation of dividends or interest, tax gains or losses, changes to the Underlying Index or the costs of complying with various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the iShares Core S&amp;P Mid-Cap ETF incurs fees and expenses, while the Underlying Index does not. </li></ul><b>Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund as a whole is subject to the following risks: <ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders. </li></ul><ul type="square"><li> <b>Financials Sector Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or recent or future regulation of the financials sector as a whole cannot be predicted. In recent years, cyber-attacks and technology malfunctions have become increasingly frequent in this sector and have caused significant losses to companies in this sector, which may negatively impact the Fund. </li></ul><ul type="square"><li> <b>Foreign Investing Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market. </li></ul><ul type="square"><li> <b>Industrials Sector Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The industrials sector may be adversely affected by changes in the supply of and demand for products and services, product obsolescence, claims for environmental damage or product liability and general economic conditions, among other factors. </li></ul><ul type="square"><li> <b>Information Technology Sector Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Information technology companies face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights. </li></ul><ul type="square"><li> <b>Issuer Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Fund performance depends on the performance of individual securities to which the Fund has exposure. Changes in the financial condition or credit rating of an issuer of those securities may cause the value of the securities to decline. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Mid-Capitalization Companies Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Investments and securities of mid-cap companies may involve greater risk of loss than investing in larger, more established companies. Mid-cap companies may have limited product lines, markets or financial resources and less seasoned management teams and may trade less frequently at a lower volume than more widely held securities. The prices of mid-cap companies&#8217; stock tend to fluctuate in value more than those of larger capitalization stocks. </li></ul><ul type="square"><li> <b>Risk of Investing in Developed Countries.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund&#8217;s investment in a developed country issuer may subject the Fund to regulatory, political, currency, security, economic and other risks associated with developed countries. Developed countries tend to represent a significant portion of the global economy and have generally experienced slower economic growth than some less developed countries. In addition, developed countries may be impacted by changes to the economic conditions of certain key trading partners, regulatory burdens, debt burdens and the price or availability of certain commodities. </li></ul><ul type="square"><li> <b>Risk of Investing in the United States.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund has significant exposure to U.S. issuers. Certain changes in the U.S. economy, such as when the U.S. economy weakens or when its financial markets decline, may have an adverse effect on the securities to which the Fund has exposure. </li></ul><ul type="square"><li> <b>Smaller Company Size Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The securities of smaller capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund&#8217;s investments may not be actively traded, which increases the risk that the Fund&#8217;s investment adviser or sub-adviser may have difficulty selling securities the Fund holds. </li></ul><ul type="square"><li> <b>Investment Company Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund invests in securities of other open-end investment companies. The risks of investments in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company&#8217;s fees and expenses as well as their share of the Fund&#8217;s fees and expenses. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). Prior to May 1, 2017, the portion of the Fund&#8217;s assets invested in the iShares Core S&amp;P Mid-Cap ETF were invested directly in equity securities pursuant to a different investment strategy. The returns in the bar chart and table below show how the Fund performed using the previous investment strategy. <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were:<br/><br/>Best quarter: 19.06%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009.<br/><br/>Worst quarter: -29.32%,<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2500 Index measures the performance of the 2,500 smallest securities in the Russell 3000 Index, which represents approximately 20% of the total market capitalization of the Russell 3000 Index. Unlike an investment in the Fund, a theoretical investment in the Index does not reflect any expenses. It is not possible to invest directly in an index. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Please note that the amount of &#8220;Total Annual Fund Operating Expenses&#8221; shown in the above table differs from the ratio of expenses to average net assets included in the &#8220;Financial Highlights&#8221; section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. April 30, 2019 <b>Industry Concentration Policy.</b>&nbsp;&nbsp;&nbsp;&nbsp;The iShares Core S&amp;P Mid-Cap ETF will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry. Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. Best quarter: 2009-06-30 Worst quarter: Best quarter: 2012-03-31 Worst quarter: <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> <b>INTERNATIONAL EQUITY FUND </b> <b>Investment Objective:</b> The International Equity Fund (the &#8220;Fund&#8221;) seeks long-term growth of capital. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 46% of the average value of its portfolio. <b>Principal Investment Strategies </b> Two different investment sub-advisers, Marsico Capital Management, LLC (&#8220;Marsico&#8221;) and Northern Cross, LLC (&#8220;Northern Cross&#8221;), select investments for the Fund. Marsico and Northern Cross each manage approximately one-half of the Fund&#8217;s portfolio. State Farm Investment Management Corp. (the &#8220;Manager&#8221; or &#8220;SFIM&#8221;) monitors the performance of the sub-advisers and the split of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below. <br/><br/><b>Marsico </b><br/><br/>Marsico invests its portion of the Fund primarily in common stock of foreign companies that it selects for their long-term growth potential. Marsico may invest its portion of the Fund in an unlimited number of companies of any size throughout the world, and normally invests in the securities of issuers that are economically tied to at least four different foreign countries. The Fund may invest in securities of companies economically tied to emerging markets. Some issuers of securities in the Fund&#8217;s portfolio may be based in or economically tied to the U.S. In selecting investments for the Fund, Marsico uses an approach that combines &#8216;top-down&#8217; macro-economic analysis that focuses on broad financial and economic indicators with &#8216;bottom-up&#8217; stock selection that initially focuses on individual stocks. <br/><br/>Marsico may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <br/><br/><b>Northern Cross </b><br/><br/>Northern Cross invests its portion of the Fund in securities issued by foreign companies which it believes have the potential for long term margin expansion. Northern Cross primarily focuses on common stocks priced cheaply relative to some financial measure of worth, such as ratios of price to earnings, price to sales or price to cash flow. Under normal market conditions Northern Cross will invest its portion of the Fund in 60-80 companies with a diversified representation of sectors. In selecting securities for the Fund, Northern Cross gives careful consideration to currency, political stability and other effects of international investing. <br/><br/>Northern Cross may sell individual securities for several reasons including: full valuation of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:<ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Foreign Investing Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The assessment by the Fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul>An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were:<br/><br/>Best quarter: 25.61%,<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009.<br/><br/>Worst quarter: -23.84%,<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Morgan Stanley Capital International All Country World Index (ex-U.S.) (the &#8220;MSCI ACWI ex-U.S. Index&#8221;) for the 1, 5 and 10-year periods ended 12/31/2017. MSCI ACWI ex-U.S. Index is a free float adjusted market capitalization index that is designed to measure equity market performance in global developed and emerging markets, excluding the United States. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> Best quarter: <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> <b>STOCK AND BOND BALANCED FUND </b> <b>Investment Objective:</b> The Stock and Bond Balanced Fund (the &#8220;Fund&#8221;) seeks long-term growth of capital, balanced with current income. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. <b>Principal Investment Strategies </b> The Fund invests substantially all of its assets in shares of the Large Cap Equity Index Fund and the Bond Fund. The Fund attempts to maintain approximately 60% of its assets in shares of the Large Cap Equity Index Fund and 40% of its assets in shares of the Bond Fund. The Large Cap Equity Index Fund primarily invests in stocks of issuers that are listed on the S&amp;P 500 Index. The Bond Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities or in bonds that are not rated, but that State Farm Investment Management Corp. (&#8220;SFIM&#8221; or the &#8220;Manager&#8221;) has determined to be of comparable quality. <br/><br/>In making investment decisions on specific securities for the Bond Fund, the Manager looks for companies with one or more of the following characteristics: <ul type="square"><li> Strong cash flow and a recurring revenue stream </li></ul><ul type="square"><li> A strong industry position </li></ul><ul type="square"><li> A strong financial position </li></ul><ul type="square"><li> Strong management with a clearly defined strategy </li></ul><ul type="square"><li> Capability to develop new or superior products or services </li></ul> <b>Principal Risks of Investing in the Fund </b> Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. An investor in the Fund is subject to the following types of risks:<ul type="square"><li> <b>Equity Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock markets are volatile. The price of equity securities fluctuates based on changes in a company&#8217;s financial condition and overall market and economic conditions. </li></ul><ul type="square"><li> <b>Market Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. </li></ul><ul type="square"><li> <b>Management Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The assessment by a fund&#8217;s investment adviser or sub-adviser of the securities to be purchased or sold by a fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Index Fund Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;An index fund has operating and other expenses, while an index does not. As a result, while the Large Cap Equity Index Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that the Large Cap Equity Index Fund will succeed, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly. </li></ul><ul type="square"><li> <b>Security Selection Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>Because securities market indices are developed by persons unrelated to an index fund, a fund&#8217;s investment adviser or sub-adviser, an index fund may hold stocks in companies that present risks that a fund&#8217;s investment adviser or sub-adviser researching individual stocks might avoid. </li></ul><ul type="square"><li> <b>Interest Rate Risk and Call Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the bonds a fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will &#8220;call&#8221; or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, a fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond. </li></ul><ul type="square"><li> <b>Prepayment and Extension Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans. </li></ul><ul type="square"><li> <b>Credit Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that a bond issuer fails to make principal or interest payments when due to a fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds. </li></ul><ul type="square"><li> <b>Inflation Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money. </li></ul><ul type="square"><li> <b>Liquidity Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The investment adviser to a fund may have difficulty selling securities a fund holds at the time it would like to sell, and at the value a fund has placed on those securities. </li></ul><ul type="square"><li> <b>Income Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the income from the bonds a fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio&#8217;s current earnings rate. </li></ul><ul type="square"><li> <b>Investment Company Securities Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The Fund invests in securities of other open-end investment companies. The risks of investment in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company&#8217;s fees and expenses as well as their share of the Fund&#8217;s fees and expenses. </li></ul>You may want to consider investing in the Fund if you are seeking higher potential returns than money market funds and are willing to accept a moderate level of volatility, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon or require stability of your principal. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. <b>Annual Total Returns For Calendar Years </b> The Fund&#8217;s best and worst quarters during the periods in the bar chart were:<br/><br/>Best quarter: 11.29%,<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009.<br/><br/>Worst quarter: -12.51%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the fourth quarter of 2008. The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index and Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. SFIM computes the Blended Benchmark by using 60% S&P 500 Index and 40% Bloomberg Barclays Intermediate Government/Credit Index. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> Please note that the amount of &#8220;Total Annual Fund Operating Expenses&#8221; shown in the above table differs from the ratio of expenses to average net assets included in the &#8220;Financial Highlights&#8221; section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or another government agency. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualFundOperatingExpenses000093 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleExpenseExampleTransposed000094 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAverageAnnualTotalReturnsTransposed000097 column period compact * ~</div> Best quarter: Worst quarter: Best quarter: 2009-06-30 Worst quarter: 2009-06-30 2008-12-31 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. <b>BOND FUND </b> <b>Investment Objective:</b> <b>Annual Fund Operating Expenses </b><br/><b>(expenses that you pay each year as a percentage of the value of your investment) </b> <b>Portfolio Turnover </b> <b>Principal Investment Strategies </b> <b>Principal Risks of Investing in the Fund </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 19% of the average value of its portfolio. The Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities. Under normal circumstances, the Fund invests at least 80% of its net assets plus any borrowings in investment grade bonds or in bonds that are not rated, but that State Farm Investment Management Corp. (&#8220;SFIM&#8221; or the &#8220;Manager&#8221;) has determined to be of comparable quality. A bond is investment grade if Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Standard &amp; Poor&#8217;s Financial Services LLC, a division of McGraw Hill Financial (&#8220;S&amp;P&#8221;) has rated the bond in one of their respective four highest rating categories. Non-investment grade bonds are commonly referred to as &#8220;junk bonds.&#8221; The Fund may invest in any of the following instruments:<ul type="square"><li> <b>Corporate Debt Securities:&nbsp;&nbsp;&nbsp;&nbsp;</b>investment grade securities issued by corporations and to a limited extent (up to 20% of its assets), in lower rated securities </li></ul><ul type="square"><li> <b>U.S. Government Debt Securities:&nbsp;&nbsp;&nbsp;&nbsp;</b>securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities </li></ul><ul type="square"><li> <b>Foreign Government Debt Securities:&nbsp;&nbsp;&nbsp;&nbsp;</b>investment grade securities issued or guaranteed by a foreign government or its agencies or instrumentalities, payable in U.S. dollars </li></ul><ul type="square"><li> <b>Asset Backed and Mortgage Backed Securities:&nbsp;&nbsp;&nbsp;&nbsp;</b>investment grade securities backed by mortgages, consumer loans and other assets </li></ul><ul type="square"><li> <b>Other Issuer Debt Securities:&nbsp;&nbsp;&nbsp;&nbsp;</b>the Fund may invest up to 20% of its assets in non-investment grade debt securities and preferred stocks that are convertible into common stocks as well as nonconvertible preferred stocks or securities. </li></ul>In making investment decisions on specific securities, the Manager looks for companies with one or more of the following characteristics:<ul type="square"><li> Strong cash flow and a recurring revenue stream </li></ul><ul type="square"><li> A strong industry position </li></ul><ul type="square"><li> A strong financial position </li></ul><ul type="square"><li> Strong management with a clearly defined strategy </li></ul><ul type="square"><li> Capability to develop new or superior products or services </li></ul>The Manager may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations. Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks: <ul type="square"><li> <b>Management Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The assessment by the Fund&#8217;s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market. </li></ul><ul type="square"><li> <b>Interest Rate Risk and Call Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will &#8220;call&#8221; or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond. </li></ul><ul type="square"><li> <b>Prepayment and Extension Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans. </li></ul><ul type="square"><li> <b>Credit Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds. </li></ul><ul type="square"><li> <b>Inflation Risk.</b>&nbsp;&nbsp;&nbsp;&nbsp;The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money. </li></ul><ul type="square"><li> <b>Liquidity Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The investment adviser to the Fund may have difficulty selling securities the Fund holds at the time it would like to sell, and at the value the Fund has placed on those securities. </li></ul><ul type="square"><li> <b>Income Risk.&nbsp;&nbsp;&nbsp;&nbsp;</b>The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio&#8217;s current earnings rate. </li></ul>You may want to invest in the Fund if you are seeking higher potential returns than money market funds and are willing to accept the price volatility of bonds with longer maturities, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon, want the greater growth potential of an investment in equity securities or require stability of your principal. <b>Investment Results </b> The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). <br/><br/>The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund&#8217;s performance from year to year. This information is intended to help you assess the variability of the Fund&#8217;s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. <b>Average Annual Total Returns </b><br/><b>(for the periods ended December 31, 2017) </b> <b>Annual Total Returns For Calendar Years </b> The Bond Fund (the &#8220;Fund&#8221;) seeks to realize over a period of years the highest yield consistent with prudent investment management through current income and capital gains. <b>What are the costs of investing in the Fund? </b> This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. <b>Expense Example</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. <br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher. The Fund&#8217;s best and worst quarters during the periods in the bar chart were:<br/><br/>Best quarter: 5.16%,<br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2009.<br/><br/>Worst quarter: -2.54%, <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the second quarter of 2013. 2009-06-30 Best quarter: 2009-06-30 Worst quarter: <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000096 column period compact * ~</div> 2013-06-30 <div style="display:none">~ http://www.statefarm.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> Worst quarter: The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. The Bloomberg Barclays Intermediate Government/Credit Index includes U.S. Government and corporate bonds maturing within one to ten years and an outstanding par value of at least $250 million. The Fund&#8217;s past performance doesn&#8217;t necessarily indicate how it will perform in the future. 61 192 335 750 115 359 622 1375 41 128 224 505 67 274 497 1140 28 87 152 343 73 227 395 883 24 74 130 293 43 135 235 530 15 48 85 192 0.217 0.1553 0.0823 0.2183 0.1579 0.085 0.03 0.0064 0.0014 0.0028 0 0.0079 0.1455 0.1372 0.0827 0.1465 0.1412 0.0871 0.12 -0.2613 0.2051 -0.2187 0.158 0.0013 0 0.001 0.0023 0.001 0 0.0005 0.0015 0.001 0 0.0031 0.0001 0.0042 0.2381 0.1586 0.0708 0.2183 0.1579 0.085 0.55 0.254 0.0732 0.0156 0.2503 0.079 0.0194 0.04 0.1179 0.1143 0.0572 0.1681 0.1433 0.0922 0.96 -0.2402 0.1308 -0.2017 0.2525 0.008 0 0.0012 0.0003 0.0095 0.0066 0.006 0 0.0011 0.0071 0.0015 0 0.0012 0.0027 0.1396 0.0993 0.067 0.2183 0.1579 0.085 0.0214 0.015 0.0332 0.1359 0.0999 0.067 0.04 0.3435 0.0713 0.0173 0.2719 0.068 0.0184 0.46 -0.2384 0.2561 -0.2932 0.1906 0.0516 0.0095 0.1225 0.0554 0.0658 0.0345 -0.0206 0.0352 0.0101 0.0208 0.0215 0.19 0.0215 0.0214 0.0132 0.015 0.0332 0.0348 0.005 0 0.001 0.006 -0.1251 0.1129 -0.0254 -0.0029 -0.4536 0.3012 0.2389 -0.0208 0.1777 0.3496 0.0494 -0.0399 0.1301 0.1179 0.0208 0.0003 0 0 0 0 0 0 0.0005 0.0064 -0.3714 0.2607 0.1473 -0.4703 0.0183 0.1572 0.3201 0.1337 0.3375 0.1252 -0.1379 0.1919 0.0112 0.1797 -0.0596 0.1174 -0.0017 0.217 -0.0517 0.3435 -0.3405 0.2639 0.2612 -0.0453 0.159 0.3827 0.0437 -0.0486 0.2096 0.1455 -0.2314 0.2106 0.1146 0.0372 0.1077 0.1797 0.0943 0.0111 0.079 0.1396 -0.4213 0.2801 0.0718 -0.125 0.18 0.2096 -0.0588 -0.0116 0.009 0.254 -0.4112 0.2184 0.1355 -0.0012 0.1663 0.3333 0.1575 0.0133 0.0783 0.2381 0 0 0.0009 0.0031 0.004 0.008 0 0.0033 0.0113 0.010325 “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. State Farm Investment Management Corp. (“SFIM”), the investment adviser to the Fund, has contractually agreed to waive 0.29% of management fees for the Small/Mid Cap Equity Fund. This fee waiver applies through April 30, 2019, and SFIM may not discontinue or modify this waiver without the approval of the Board of Trustees of State Farm Variable Product Trust. “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses. 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Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2017
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Central Index Key dei_EntityCentralIndexKey 0001034633
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Document Creation Date dei_DocumentCreationDate Apr. 27, 2018
Document Effective Date dei_DocumentEffectiveDate May 01, 2018
Prospectus Date rr_ProspectusDate May 01, 2018
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State Farm Money Market Fund
MONEY MARKET FUND
Investment Objective:
The Money Market Fund (the “Fund”) seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Money Market Fund
State Farm Money Market Fund
Management Fees 0.10%
Distribution and Service (12b-1) Fees none
Other Expenses 0.31%
Acquired Fund Fees & Expenses 0.01% [1]
Total Annual Fund Operating Expenses 0.42%
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Money Market Fund | State Farm Money Market Fund | USD ($) 43 135 235 530
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Principal Investment Strategies
Under normal conditions, the Fund invests its assets primarily (at least 99.5%) in:
  • Debt securities issued or guaranteed by the U.S. government, or by U.S. government agencies or instrumentalities,
  • Cash, and
  • Repurchase agreements fully collateralized by U.S. Treasury and U.S. government securities.
The Fund is managed in the following manner:
  • The Fund seeks to maintain a net asset value (“NAV”) of $1.00 per share.
  • The dollar-weighted average maturity of the Fund will be 60 days or less and the dollar-weighted average life to maturity will be 120 days or less.
  • The Fund will only buy securities that have remaining maturities of 397 days or less or securities otherwise permitted to be purchased because of maturity shortening provisions under applicable regulation.
  • The Fund invests only in U.S. dollar-denominated securities.
  • The Fund seeks to invest in securities that present minimal credit risk.
The Fund intends to qualify as a “government money market fund” as defined in, or interpreted in accordance with, Rule 2a-7 under the Investment Company Act of 1940, as amended. “Government money market funds” are required to invest at least 99.5% of their assets in (i) cash, (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities and/or (iii) repurchase agreements that are collateralized fully. Government money market funds like the Fund are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates. While the Board of Trustees of State Farm Variable Product Trust may elect to subject the Fund to liquidity fee and gate requirements in the future, the Board of Trustees has elected not to do so at this time.

The Fund’s adviser, State Farm Investment Management Corp. (“SFIM”), seeks to develop an appropriate portfolio of securities for the Fund by considering the differences in yields among securities of different maturities, market sectors and issuers.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment by maintaining a stable NAV of $1.00 per share, the Fund may not succeed and you may lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. The Fund’s adviser has no legal obligation to provide financial support to the Fund, and you should not expect that the adviser will provide financial support to the Fund at any time. An investor in the Fund is subject to the following types of risks:
  • Management Risk.    The assessment by the Fund’s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Interest Rate Risk and Call Risk.    The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls.
  • Income Risk.    The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Government Securities Risk.    The Fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity, and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.
  • Transactions Risk.    The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.
  • Net Asset Value Risk.    There is no assurance that the Fund will maintain a net asset value of $1.00 per share on a continuous basis. Furthermore, there can be no assurance that the Fund’s sponsor will purchase distressed assets from the Fund, make capital infusions, enter into capital support agreements or take other actions to ensure that the Fund maintains a net asset value of $1.00 per share. In the event any money market fund fails to maintain a stable net asset value, other money market funds, including the Fund, could face a universal risk of increased redemption pressures, potentially jeopardizing the stability of their net asset values. In general, certain other money market funds have in the past failed to maintain stable net asset values and there can be no assurance that such failures and resulting redemption pressures will not occur in the future.
An investment in the Fund may be appropriate for you if you seek stability of principal, an investment for the cash portion of an asset allocation plan or are looking for an investment with a lower degree of risk. The Fund may not be suitable for you if you are seeking an investment that is likely to significantly outpace inflation, are investing for retirement or other longer term goals or are investing for growth or maximum current income.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 0.79%,
                 during the first quarter of 2008.

Worst quarter: 0.00%,
                 during the second quarter of 2016.
The following table shows the average annual total return on an investment in the Fund for the 1, 5 and 10-year periods ended 12/31/2017.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns
1 Year
5 Year
10 Year
State Farm Money Market Fund | State Farm Money Market Fund 0.64% 0.14% 0.28%
The Money Market Fund’s current 7-day yield on December 31, 2017 was 1.0325%.
XML 12 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Money Market Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading MONEY MARKET FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Money Market Fund (the “Fund”) seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal conditions, the Fund invests its assets primarily (at least 99.5%) in:
  • Debt securities issued or guaranteed by the U.S. government, or by U.S. government agencies or instrumentalities,
  • Cash, and
  • Repurchase agreements fully collateralized by U.S. Treasury and U.S. government securities.
The Fund is managed in the following manner:
  • The Fund seeks to maintain a net asset value (“NAV”) of $1.00 per share.
  • The dollar-weighted average maturity of the Fund will be 60 days or less and the dollar-weighted average life to maturity will be 120 days or less.
  • The Fund will only buy securities that have remaining maturities of 397 days or less or securities otherwise permitted to be purchased because of maturity shortening provisions under applicable regulation.
  • The Fund invests only in U.S. dollar-denominated securities.
  • The Fund seeks to invest in securities that present minimal credit risk.
The Fund intends to qualify as a “government money market fund” as defined in, or interpreted in accordance with, Rule 2a-7 under the Investment Company Act of 1940, as amended. “Government money market funds” are required to invest at least 99.5% of their assets in (i) cash, (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities and/or (iii) repurchase agreements that are collateralized fully. Government money market funds like the Fund are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates. While the Board of Trustees of State Farm Variable Product Trust may elect to subject the Fund to liquidity fee and gate requirements in the future, the Board of Trustees has elected not to do so at this time.

The Fund’s adviser, State Farm Investment Management Corp. (“SFIM”), seeks to develop an appropriate portfolio of securities for the Fund by considering the differences in yields among securities of different maturities, market sectors and issuers.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment by maintaining a stable NAV of $1.00 per share, the Fund may not succeed and you may lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. The Fund’s adviser has no legal obligation to provide financial support to the Fund, and you should not expect that the adviser will provide financial support to the Fund at any time. An investor in the Fund is subject to the following types of risks:
  • Management Risk.    The assessment by the Fund’s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Interest Rate Risk and Call Risk.    The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls.
  • Income Risk.    The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Government Securities Risk.    The Fund invests in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as securities issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)). U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities, such as those issued or guaranteed by Ginnie Mae or the U.S. Treasury, that are backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity, and the market prices for such securities will fluctuate. Notwithstanding that these securities are backed by the full faith and credit of the United States, circumstances could arise that would prevent the payment of interest or principal. This would result in losses to the Fund. Securities issued or guaranteed by U.S. government related organizations, such as Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government will provide financial support. Therefore, U.S. government related organizations may not have the funds to meet their payment obligations in the future. U.S. government securities include zero coupon securities, which tend to be subject to greater market risk than interest-paying securities of similar maturities.
  • Transactions Risk.    The Fund could experience a loss and its liquidity may be negatively impacted when selling securities to meet redemption requests by shareholders. The risk of loss increases if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices. Similarly, large purchases of Fund shares may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would.
  • Net Asset Value Risk.    There is no assurance that the Fund will maintain a net asset value of $1.00 per share on a continuous basis. Furthermore, there can be no assurance that the Fund’s sponsor will purchase distressed assets from the Fund, make capital infusions, enter into capital support agreements or take other actions to ensure that the Fund maintains a net asset value of $1.00 per share. In the event any money market fund fails to maintain a stable net asset value, other money market funds, including the Fund, could face a universal risk of increased redemption pressures, potentially jeopardizing the stability of their net asset values. In general, certain other money market funds have in the past failed to maintain stable net asset values and there can be no assurance that such failures and resulting redemption pressures will not occur in the future.
An investment in the Fund may be appropriate for you if you seek stability of principal, an investment for the cash portion of an asset allocation plan or are looking for an investment with a lower degree of risk. The Fund may not be suitable for you if you are seeking an investment that is likely to significantly outpace inflation, are investing for retirement or other longer term goals or are investing for growth or maximum current income.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Money Market Fund [Text] rr_RiskMoneyMarketFund Although the Fund seeks to preserve the value of your investment by maintaining a stable NAV of $1.00 per share, the Fund may not succeed and you may lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 0.79%,
                 during the first quarter of 2008.

Worst quarter: 0.00%,
                 during the second quarter of 2016.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total return on an investment in the Fund for the 1, 5 and 10-year periods ended 12/31/2017.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock The Money Market Fund’s current 7-day yield on December 31, 2017 was 1.0325%.
Money Market Seven Day Yield, Caption [Text] rr_MoneyMarketSevenDayYieldCaption The Money Market Fund’s current 7-day yield on December 31, 2017
Money Market Seven Day Yield rr_MoneyMarketSevenDayYield 1.0325%
State Farm Money Market Fund | State Farm Money Market Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.10%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.31%
Acquired Fund Fees & Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.42%
1 Year rr_ExpenseExampleYear01 $ 43
3 Years rr_ExpenseExampleYear03 135
5 Years rr_ExpenseExampleYear05 235
10 Years rr_ExpenseExampleYear10 $ 530
2008 rr_AnnualReturn2008 2.08%
2009 rr_AnnualReturn2009 0.03%
2010 rr_AnnualReturn2010 none
2011 rr_AnnualReturn2011 none
2012 rr_AnnualReturn2012 none
2013 rr_AnnualReturn2013 none
2014 rr_AnnualReturn2014 none
2015 rr_AnnualReturn2015 none
2016 rr_AnnualReturn2016 0.05%
2017 rr_AnnualReturn2017 0.64%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 0.79%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn none
1 Year rr_AverageAnnualReturnYear01 0.64%
5 Year rr_AverageAnnualReturnYear05 0.14%
10 Year rr_AverageAnnualReturnYear10 0.28%
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
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State Farm Large Cap Equity Index Fund
LARGE CAP EQUITY INDEX FUND
Investment Objective:
The Large Cap Equity Index Fund (the “Fund”) seeks to match performance of the S&P 500® Index (the “S&P 500”) by investing in the securities that make up the S&P 500.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Large Cap Equity Index Fund
State Farm Large Cap Equity Index Fund
Management Fees 0.10%
Distribution and Service (12b-1) Fees none
Other Expenses 0.05%
Total Annual Fund Operating Expenses 0.15%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Large Cap Equity Index Fund | State Farm Large Cap Equity Index Fund | USD ($) 15 48 85 192
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
Principal Investment Strategies
The Fund seeks to achieve investment performance that is similar to the S&P 500 (the Fund’s target benchmark). The S&P 500 is a widely used measure of large U.S. company stock performance. Standard & Poor’s (“S&P”) selects stocks for the S&P 500 based upon the following factors:
  • market value
  • industry group classification (so that the S&P 500 represents a broad range of industry segments within the U.S. economy)
  • trading activity, to ensure ample liquidity and efficient share pricing
  • fundamental analysis, to ensure that companies in the S&P 500 are stable
The Fund pursues its investment objective by:
  • investing in substantially all of the securities that make up the S&P 500
  • investing in these securities in proportions that match, approximately, the weightings of the S&P 500
Under normal operating conditions, the Fund seeks to invest at least 90% of its total assets in stocks that are represented in the S&P 500.

BlackRock Fund Advisors (“BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (“SFIM” or the “Manager”) or the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 15.80%,
                 during the second quarter of 2009.

Worst quarter: -21.87%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 for the 1, 5 and 10-year periods ended 12/31/2017. The S&P 500 is a capitalization-weighted measure of the common stocks of 500 large U.S. companies. The S&P 500 represents an unmanaged group of stocks that differ from the composition of the Fund.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Large Cap Equity Index Fund
1 Year
5 Year
10 Year
State Farm Large Cap Equity Index Fund 21.70% 15.53% 8.23%
S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.) 21.83% 15.79% 8.50%

XML 15 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Large Cap Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading LARGE CAP EQUITY INDEX FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Large Cap Equity Index Fund (the “Fund”) seeks to match performance of the S&P 500® Index (the “S&P 500”) by investing in the securities that make up the S&P 500.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 3.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund seeks to achieve investment performance that is similar to the S&P 500 (the Fund’s target benchmark). The S&P 500 is a widely used measure of large U.S. company stock performance. Standard & Poor’s (“S&P”) selects stocks for the S&P 500 based upon the following factors:
  • market value
  • industry group classification (so that the S&P 500 represents a broad range of industry segments within the U.S. economy)
  • trading activity, to ensure ample liquidity and efficient share pricing
  • fundamental analysis, to ensure that companies in the S&P 500 are stable
The Fund pursues its investment objective by:
  • investing in substantially all of the securities that make up the S&P 500
  • investing in these securities in proportions that match, approximately, the weightings of the S&P 500
Under normal operating conditions, the Fund seeks to invest at least 90% of its total assets in stocks that are represented in the S&P 500.

BlackRock Fund Advisors (“BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (“SFIM” or the “Manager”) or the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 15.80%,
                 during the second quarter of 2009.

Worst quarter: -21.87%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 for the 1, 5 and 10-year periods ended 12/31/2017. The S&P 500 is a capitalization-weighted measure of the common stocks of 500 large U.S. companies. The S&P 500 represents an unmanaged group of stocks that differ from the composition of the Fund.
State Farm Large Cap Equity Index Fund | State Farm Large Cap Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.10%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.05%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.15%
1 Year rr_ExpenseExampleYear01 $ 15
3 Years rr_ExpenseExampleYear03 48
5 Years rr_ExpenseExampleYear05 85
10 Years rr_ExpenseExampleYear10 $ 192
2008 rr_AnnualReturn2008 (37.14%)
2009 rr_AnnualReturn2009 26.07%
2010 rr_AnnualReturn2010 14.73%
2011 rr_AnnualReturn2011 1.83%
2012 rr_AnnualReturn2012 15.72%
2013 rr_AnnualReturn2013 32.01%
2014 rr_AnnualReturn2014 13.37%
2015 rr_AnnualReturn2015 1.12%
2016 rr_AnnualReturn2016 11.74%
2017 rr_AnnualReturn2017 21.70%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.80%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (21.87%)
1 Year rr_AverageAnnualReturnYear01 21.70%
5 Year rr_AverageAnnualReturnYear05 15.53%
10 Year rr_AverageAnnualReturnYear10 8.23%
State Farm Large Cap Equity Index Fund | S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Year rr_AverageAnnualReturnYear05 15.79%
10 Year rr_AverageAnnualReturnYear10 8.50%
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State Farm Small Cap Equity Index Fund
SMALL CAP EQUITY INDEX FUND
Investment Objective:
The Small Cap Equity Index Fund (the “Fund”) seeks to match performance of the Russell 2000® Small Stock Index (the “Russell 2000”) by investing in some of the stocks found in the Russell 2000.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Small Cap Equity Index Fund
State Farm Small Cap Equity Index Fund
Management Fees 0.13%
Distribution and Service (12b-1) Fees none
Other Expenses 0.10%
Total Annual Fund Operating Expenses 0.23%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Small Cap Equity Index Fund | State Farm Small Cap Equity Index Fund | USD ($) 24 74 130 293
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 12% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests in stocks of companies that are included in the Russell 2000 Small Stock Index (the “Russell 2000 Index”) in a manner that is expected to approximate the performance of the Russell 2000 Index, the benchmark index. The Russell 2000 Index is an index of 2,000 small companies that is created by taking the largest 3,000 companies traded in the U.S and eliminating the largest 1,000 of these companies. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the Russell 2000 Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the Russell 2000 Index in weights that approximate the relative composition of the securities contained in the index.

BlackRock Fund Advisors (the “BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Smaller Company Size Risk.    The securities of small capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund’s investments may not be actively traded, which increases the risk that the Fund’s investment adviser or sub-adviser may have difficulty selling securities the Fund holds.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the “Manager” or “SFIM”) or the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Financial Sector Risk.    The Fund may invest 25% or more of its net assets in securities issued by companies in the financial sector. The market value of securities of issuers in the financial sector can be affected by various factors, such as adverse regulatory or economic occurrences, availability of credit, fluctuations in asset values, unstable interest rates, increased competition, continuing consolidations and development of new products and structures. Furthermore, increased government involvement in financial institutions could adversely impact the value of such institutions.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 20.51%,
                 during the second quarter of 2009.

Worst quarter: -26.13%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2000 for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2000 Small Stock Index tracks the common stock performance of the 2,000 smallest U.S. companies in the Russell 3000 Index, which represents approximately 10% of the total capitalization of the Russell 3000 Index. Unlike an investment in the Fund, returns of the Russell 2000 do not reflect expenses of investing.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Small Cap Equity Index Fund
1 Year
5 Year
10 Year
State Farm Small Cap Equity Index Fund 14.55% 13.72% 8.27%
Russell 2000 (Returns reflect no deduction for fees, expenses or taxes.) 14.65% 14.12% 8.71%

XML 18 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Small Cap Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SMALL CAP EQUITY INDEX FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Small Cap Equity Index Fund (the “Fund”) seeks to match performance of the Russell 2000® Small Stock Index (the “Russell 2000”) by investing in some of the stocks found in the Russell 2000.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 12% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 12.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in stocks of companies that are included in the Russell 2000 Small Stock Index (the “Russell 2000 Index”) in a manner that is expected to approximate the performance of the Russell 2000 Index, the benchmark index. The Russell 2000 Index is an index of 2,000 small companies that is created by taking the largest 3,000 companies traded in the U.S and eliminating the largest 1,000 of these companies. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the Russell 2000 Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the Russell 2000 Index in weights that approximate the relative composition of the securities contained in the index.

BlackRock Fund Advisors (the “BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Smaller Company Size Risk.    The securities of small capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund’s investments may not be actively traded, which increases the risk that the Fund’s investment adviser or sub-adviser may have difficulty selling securities the Fund holds.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the “Manager” or “SFIM”) or the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Financial Sector Risk.    The Fund may invest 25% or more of its net assets in securities issued by companies in the financial sector. The market value of securities of issuers in the financial sector can be affected by various factors, such as adverse regulatory or economic occurrences, availability of credit, fluctuations in asset values, unstable interest rates, increased competition, continuing consolidations and development of new products and structures. Furthermore, increased government involvement in financial institutions could adversely impact the value of such institutions.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 20.51%,
                 during the second quarter of 2009.

Worst quarter: -26.13%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2000 for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2000 Small Stock Index tracks the common stock performance of the 2,000 smallest U.S. companies in the Russell 3000 Index, which represents approximately 10% of the total capitalization of the Russell 3000 Index. Unlike an investment in the Fund, returns of the Russell 2000 do not reflect expenses of investing.
State Farm Small Cap Equity Index Fund | State Farm Small Cap Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.13%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.10%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.23%
1 Year rr_ExpenseExampleYear01 $ 24
3 Years rr_ExpenseExampleYear03 74
5 Years rr_ExpenseExampleYear05 130
10 Years rr_ExpenseExampleYear10 $ 293
2008 rr_AnnualReturn2008 (34.05%)
2009 rr_AnnualReturn2009 26.39%
2010 rr_AnnualReturn2010 26.12%
2011 rr_AnnualReturn2011 (4.53%)
2012 rr_AnnualReturn2012 15.90%
2013 rr_AnnualReturn2013 38.27%
2014 rr_AnnualReturn2014 4.37%
2015 rr_AnnualReturn2015 (4.86%)
2016 rr_AnnualReturn2016 20.96%
2017 rr_AnnualReturn2017 14.55%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.51%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (26.13%)
1 Year rr_AverageAnnualReturnYear01 14.55%
5 Year rr_AverageAnnualReturnYear05 13.72%
10 Year rr_AverageAnnualReturnYear10 8.27%
State Farm Small Cap Equity Index Fund | Russell 2000 (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 14.65%
5 Year rr_AverageAnnualReturnYear05 14.12%
10 Year rr_AverageAnnualReturnYear10 8.71%
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State Farm International Equity Index Fund
INTERNATIONAL EQUITY INDEX FUND
Investment Objective:
The International Equity Index Fund (the “Fund”) seeks to match performance of the MSCI Europe, Australasia, and Far East Free Index (the “EAFE® Free”) by investing in some of the stocks found in the EAFE Free.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm International Equity Index Fund
State Farm International Equity Index Fund
Management Fees 0.15%
Distribution and Service (12b-1) Fees none
Other Expenses 0.12%
Total Annual Fund Operating Expenses 0.27%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm International Equity Index Fund | State Farm International Equity Index Fund | USD ($) 28 87 152 343
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests in stocks of companies that are included in the EAFE Free Index in a manner that is expected to approximate the performance of the EAFE Free Index, the benchmark index. The EAFE Free Index is a capitalization-weighted index that currently includes stocks of companies located in 15 European countries, Australia, Israel, New Zealand, Hong Kong, Japan and Singapore. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the EAFE Free Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the EAFE Free Index in weights that approximate the relative composition of the securities contained in the index.

BlackRock Fund Advisors (the “BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the “Manager” or “SFIM”) or to the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 25.25%,
                 during the second quarter of 2009.

Worst quarter: -20.17%,
                 during the third quarter of 2011.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the EAFE Free for the 1, 5 and 10-year periods ended 12/31/2017. The EAFE Free currently measures the performance of stock markets in Europe, Australia, New Zealand, Israel, Hong Kong, Japan, and Singapore, and takes into account local market restrictions on share ownership by foreigners. The EAFE Free is meant to reflect actual opportunities for foreign investors in a local market. Unlike an investment in the Fund, returns of the EAFE Free do not reflect expenses of investing.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm International Equity Index Fund
1 Year
5 Year
10 Year
State Farm International Equity Index Fund 25.40% 7.32% 1.56%
EAFE Free Index (Returns reflect no deduction for fees, expenses or taxes.) 25.03% 7.90% 1.94%
XML 21 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm International Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading INTERNATIONAL EQUITY INDEX FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The International Equity Index Fund (the “Fund”) seeks to match performance of the MSCI Europe, Australasia, and Far East Free Index (the “EAFE® Free”) by investing in some of the stocks found in the EAFE Free.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in stocks of companies that are included in the EAFE Free Index in a manner that is expected to approximate the performance of the EAFE Free Index, the benchmark index. The EAFE Free Index is a capitalization-weighted index that currently includes stocks of companies located in 15 European countries, Australia, Israel, New Zealand, Hong Kong, Japan and Singapore. Under normal operating conditions, the Fund seeks to invest at least 90% of its net assets in stocks that are represented in the EAFE Free Index and will at all times invest a substantial portion of its total assets in such stocks. The Fund will invest in stocks that are represented in the EAFE Free Index in weights that approximate the relative composition of the securities contained in the index.

BlackRock Fund Advisors (the “BFA”), the sub-adviser to the Fund, may sell securities to reflect security changes within the index or to balance the portfolio to the index. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that this Fund will succeed in its attempt, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to the Fund, State Farm Investment Management Corp. (the “Manager” or “SFIM”) or to the Fund’s sub-adviser, the Fund may hold stocks in companies that present risks that the Manager or the Fund’s sub-adviser researching individual stocks might avoid.
  • Concentration Risk.    The Fund reserves the right to concentrate its investments (i.e., invest 25% or more of its total assets in securities of issuers in a particular industry) to approximately the same extent that the applicable index concentrates in a particular industry. To the extent the Fund concentrates in a particular industry, it may be more susceptible to economic conditions and risks affecting that industry.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 25.25%,
                 during the second quarter of 2009.

Worst quarter: -20.17%,
                 during the third quarter of 2011.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the EAFE Free for the 1, 5 and 10-year periods ended 12/31/2017. The EAFE Free currently measures the performance of stock markets in Europe, Australia, New Zealand, Israel, Hong Kong, Japan, and Singapore, and takes into account local market restrictions on share ownership by foreigners. The EAFE Free is meant to reflect actual opportunities for foreign investors in a local market. Unlike an investment in the Fund, returns of the EAFE Free do not reflect expenses of investing.
State Farm International Equity Index Fund | State Farm International Equity Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.15%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.27%
1 Year rr_ExpenseExampleYear01 $ 28
3 Years rr_ExpenseExampleYear03 87
5 Years rr_ExpenseExampleYear05 152
10 Years rr_ExpenseExampleYear10 $ 343
2008 rr_AnnualReturn2008 (42.13%)
2009 rr_AnnualReturn2009 28.01%
2010 rr_AnnualReturn2010 7.18%
2011 rr_AnnualReturn2011 (12.50%)
2012 rr_AnnualReturn2012 18.00%
2013 rr_AnnualReturn2013 20.96%
2014 rr_AnnualReturn2014 (5.88%)
2015 rr_AnnualReturn2015 (1.16%)
2016 rr_AnnualReturn2016 0.90%
2017 rr_AnnualReturn2017 25.40%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 25.25%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.17%)
1 Year rr_AverageAnnualReturnYear01 25.40%
5 Year rr_AverageAnnualReturnYear05 7.32%
10 Year rr_AverageAnnualReturnYear10 1.56%
State Farm International Equity Index Fund | EAFE Free Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 25.03%
5 Year rr_AverageAnnualReturnYear05 7.90%
10 Year rr_AverageAnnualReturnYear10 1.94%
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State Farm Large Cap Equity Fund
LARGE CAP EQUITY FUND
Investment Objective:
The Large Cap Equity Fund (or the “Fund”) seeks long-term growth of capital.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Large Cap Equity Fund
State Farm Large Cap Equity Fund
Management Fees 0.60%
Distribution and Service (12b-1) Fees none
Other Expenses 0.11%
Total Annual Fund Operating Expenses 0.71%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Large Cap Equity Fund | State Farm Large Cap Equity Fund | USD ($) 73 227 395 883
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 55% of the average value of its portfolio.
Principal Investment Strategies
Two different investment sub-advisers, Bridgeway Capital Management, Inc. (“Bridgeway”) and Westwood Management Corp. (“Westwood”), select investments for the Fund. Bridgeway and Westwood each manage approximately one-half of the Fund’s portfolio. State Farm Investment Management Corp. (the “Manager” or “SFIM”) monitors the performance of the sub-advisers and the allocation of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below.

Bridgeway

Bridgeway primarily invests its portion of the Fund in a diversified portfolio of large growth stocks. Bridgeway defines “large stocks” as those whose market capitalization (stock market worth) falls within the range of the Russell 1000 Index, an unmanaged, market value weighted index, which measures performance of approximately 1,000 of the largest companies in the market with dividends reinvested. The Russell 1000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Growth stocks are those that Bridgeway believes have above average prospects for economic growth. Bridgeway selects stocks within the large-cap growth category for the Fund using a statistically driven approach. Under normal conditions, at least 80% of Bridgeway’s portion of the Fund’s net assets (plus borrowings for investment purposes) are invested in stocks from among those in the large-cap growth category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it “migrates” to a different category after purchase.

Bridgeway may invest up to 10% of its segment of the Fund’s assets primarily in common stocks and depository receipts of foreign companies.

Westwood

Under normal market conditions, Westwood invests at least 80% of its portion of the Fund’s assets (which includes, for purposes of this test, the amount of any borrowings for investment purposes) primarily in common stocks and other equity securities of large capitalization companies, including foreign companies. Westwood invests in a portfolio of seasoned companies utilizing a value style of investing in which it chooses those stocks that Westwood believes have earnings prospects that are currently undervalued by the market relative to some financial measure of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Westwood defines large capitalization companies as those companies with market capitalizations generally greater than $5 billion at the time of purchase, while seasoned companies generally have been operating for at least three years.

In selecting securities, Westwood maintains a list of approved securities of issuers which it believes have proven records and potential for above-average earnings growth. Westwood considers purchasing a security on such list if Westwood’s forecast for growth rates and earnings for that issuer exceeds Wall Street expectations. Other key metrics for evaluating the risk/return profile of an investment include an improving return on equity, a declining debt to equity ratio and, in the case of common equities, positive earnings surprises without a corresponding increase in Wall Street estimates. Westwood has disciplines in place that serve as sell signals, such as a security reaching a pre-determined price target, and/or a fundamental change that negatively impacts the outlook and original investment thesis. The risk characteristics of Westwood’s portion of the Fund, such as beta (a measure of volatility), are generally expected to be less than those of the S&P 500 Index, the Fund’s benchmark.

Both Bridgeway and Westwood may sell individual securities for several reasons including: investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the “FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 13.08%,
                 during the first quarter of 2012.

Worst quarter: -24.02%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The S&P 500 Index is a capitalization-weighted measure of the common stocks of 500 large U.S. companies.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Large Cap Equity Fund
1 Year
5 Year
10 Year
State Farm Large Cap Equity Fund 23.81% 15.86% 7.08%
S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.) 21.83% 15.79% 8.50%

XML 24 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Large Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading LARGE CAP EQUITY FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Large Cap Equity Fund (or the “Fund”) seeks long-term growth of capital.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 55% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 55.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Two different investment sub-advisers, Bridgeway Capital Management, Inc. (“Bridgeway”) and Westwood Management Corp. (“Westwood”), select investments for the Fund. Bridgeway and Westwood each manage approximately one-half of the Fund’s portfolio. State Farm Investment Management Corp. (the “Manager” or “SFIM”) monitors the performance of the sub-advisers and the allocation of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below.

Bridgeway

Bridgeway primarily invests its portion of the Fund in a diversified portfolio of large growth stocks. Bridgeway defines “large stocks” as those whose market capitalization (stock market worth) falls within the range of the Russell 1000 Index, an unmanaged, market value weighted index, which measures performance of approximately 1,000 of the largest companies in the market with dividends reinvested. The Russell 1000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Growth stocks are those that Bridgeway believes have above average prospects for economic growth. Bridgeway selects stocks within the large-cap growth category for the Fund using a statistically driven approach. Under normal conditions, at least 80% of Bridgeway’s portion of the Fund’s net assets (plus borrowings for investment purposes) are invested in stocks from among those in the large-cap growth category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it “migrates” to a different category after purchase.

Bridgeway may invest up to 10% of its segment of the Fund’s assets primarily in common stocks and depository receipts of foreign companies.

Westwood

Under normal market conditions, Westwood invests at least 80% of its portion of the Fund’s assets (which includes, for purposes of this test, the amount of any borrowings for investment purposes) primarily in common stocks and other equity securities of large capitalization companies, including foreign companies. Westwood invests in a portfolio of seasoned companies utilizing a value style of investing in which it chooses those stocks that Westwood believes have earnings prospects that are currently undervalued by the market relative to some financial measure of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Westwood defines large capitalization companies as those companies with market capitalizations generally greater than $5 billion at the time of purchase, while seasoned companies generally have been operating for at least three years.

In selecting securities, Westwood maintains a list of approved securities of issuers which it believes have proven records and potential for above-average earnings growth. Westwood considers purchasing a security on such list if Westwood’s forecast for growth rates and earnings for that issuer exceeds Wall Street expectations. Other key metrics for evaluating the risk/return profile of an investment include an improving return on equity, a declining debt to equity ratio and, in the case of common equities, positive earnings surprises without a corresponding increase in Wall Street estimates. Westwood has disciplines in place that serve as sell signals, such as a security reaching a pre-determined price target, and/or a fundamental change that negatively impacts the outlook and original investment thesis. The risk characteristics of Westwood’s portion of the Fund, such as beta (a measure of volatility), are generally expected to be less than those of the S&P 500 Index, the Fund’s benchmark.

Both Bridgeway and Westwood may sell individual securities for several reasons including: investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the “FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (the “FDIC”) or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 13.08%,
                 during the first quarter of 2012.

Worst quarter: -24.02%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The S&P 500 Index is a capitalization-weighted measure of the common stocks of 500 large U.S. companies.
State Farm Large Cap Equity Fund | State Farm Large Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.11%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.71%
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 227
5 Years rr_ExpenseExampleYear05 395
10 Years rr_ExpenseExampleYear10 $ 883
2008 rr_AnnualReturn2008 (41.12%)
2009 rr_AnnualReturn2009 21.84%
2010 rr_AnnualReturn2010 13.55%
2011 rr_AnnualReturn2011 (0.12%)
2012 rr_AnnualReturn2012 16.63%
2013 rr_AnnualReturn2013 33.33%
2014 rr_AnnualReturn2014 15.75%
2015 rr_AnnualReturn2015 1.33%
2016 rr_AnnualReturn2016 7.83%
2017 rr_AnnualReturn2017 23.81%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.08%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.02%)
1 Year rr_AverageAnnualReturnYear01 23.81%
5 Year rr_AverageAnnualReturnYear05 15.86%
10 Year rr_AverageAnnualReturnYear10 7.08%
State Farm Large Cap Equity Fund | S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Year rr_AverageAnnualReturnYear05 15.79%
10 Year rr_AverageAnnualReturnYear10 8.50%
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State Farm Small Mid Cap Equity Fund
SMALL/MID CAP EQUITY FUND
Investment Objective:
The Small/Mid Cap Equity Fund (or the “Fund”) seeks long-term growth of capital.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Small Mid Cap Equity Fund
State Farm Small Mid Cap Equity Fund
Management Fees 0.80%
Distribution and Service (12b-1) Fees none
Other Expenses 0.12%
Acquired Fund Fees & Expenses 0.03% [1]
Total Annual Fund Operating Expenses 0.95%
Less: Fee Waiver (0.29%)
Total Annual Fund Operating Expenses after Fee Waiver 0.66% [2]
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
[2] State Farm Investment Management Corp. (“SFIM”), the investment adviser to the Fund, has contractually agreed to waive 0.29% of management fees for the Small/Mid Cap Equity Fund. This fee waiver applies through April 30, 2019, and SFIM may not discontinue or modify this waiver without the approval of the Board of Trustees of State Farm Variable Product Trust.
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the Total Annual Fund Operating Expenses after Fee Waiver in the first year, and the Total Annual Fund Operating Expenses for periods thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Small Mid Cap Equity Fund | State Farm Small Mid Cap Equity Fund | USD ($) 67 274 497 1,140
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 96% of the average value of its portfolio.
Principal Investment Strategies
State Farm Investment Management Corp. (the “Manager” or “SFIM”) has hired Bridgeway Capital Management, Inc. (“Bridgeway”) to select investments for approximately one-half of the Small/Mid Cap Equity Fund’s portfolio. The Manager monitors the performance of Bridgeway and the allocation of the Small/Mid Cap Equity Fund’s portfolio to Bridgeway. The Manager invests the other one-half of the Small/Mid Cap Equity Fund’s portfolio in shares of the iShares Core S&P Mid-Cap ETF, ticker symbol IJH, an exchange traded fund advised by BlackRock Fund Advisors (“BFA”). The iShares Core S&P Mid-Cap EFT seeks to track the investment results of the S&P Mid-Cap 400® (the “Underlying Index”). The Underlying Index measures the performance of the mid-capitalization sector of the U.S. equity market. The principal investment strategies employed by Bridgeway for its portion of the Small/Mid Cap Equity Fund’s portfolio and the principal investment strategies of BFA in managing the iShares Core S&P Mid-Cap ETF are discussed separately below.

Bridgeway

Bridgeway primarily invests its segment of the Fund in a diversified portfolio of small capitalization stocks. Bridgeway defines “small stocks” as those whose market capitalization (stock market value) falls within the range of the Russell 2000 Index, an unmanaged, market value weighted index, which measures performance of approximately 2,000 companies that are between the 1,000th and 3,000th largest in the market with dividends reinvested. The Russell 2000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Bridgeway selects stocks using a statistically driven approach.

Bridgeway invests in small capitalization stocks in the “value” category, which it defines as those stocks that Bridgeway believes are priced cheaply relative to some financial measures of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Under normal conditions, at least 80% of Bridgeway’s portion of the Fund’s net assets (plus borrowings for investment purposes) is invested in stocks from among those in the small cap value category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it “migrates” to a different category after purchase.

Bridgeway may invest up to 10% of its segment of the Fund’s assets primarily in common stocks and depository receipts of foreign companies.

Bridgeway may sell individual securities for several reasons including: the investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.

The Manager’s Investment of Fund Assets in the iShares Core S&P Mid-Cap ETF

The Manager invests approximately one-half of the Small/Mid Cap Equity Fund’s portfolio in shares of the iShares Core S&P Mid-Cap ETF. The following discussion relates to the principal investment strategies of the iShares Core S&P Mid-Cap ETF.

The iShares Core S&P Mid-Cap ETF seeks to track the investment results of the Underlying Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of March 30, 2018, the Underlying Index included approximately 6.23% of the market capitalization of all U.S. equity securities. As of March 30, 2018, the stocks in the Underlying Index have a market capitalization between $1.6 billion and $6.8 billion at time of entry, which may fluctuate depending on the overall level of the equity markets, and are selected for liquidity and industry group representation. The Underlying Index consists of stocks from a broad range of industries. Components primarily include financials, industrials and information technology companies. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time.

BFA uses a “passive” or indexing approach to try to achieve the iShares Core S&P Mid-Cap ETF’s investment objective. Unlike many investment companies, the iShares Core S&P Mid-Cap ETF does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.

Indexing may eliminate the chance that the iShares Core S&P Mid-Cap ETF will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies.

BFA uses a representative sampling indexing strategy to manage the iShares Core S&P Mid-Cap ETF. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Underlying Index. The iShares Core S&P Mid-Cap ETF may or may not hold all of the securities in the Underlying Index.

The iShares Core S&P Mid-Cap ETF generally invests at least 90% of its assets in securities of the Underlying Index and in depositary receipts representing securities of the Underlying Index. The iShares Core S&P Mid-Cap ETF may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the iShares Core S&P Mid-Cap ETF track the Underlying Index. The iShares Core S&P Mid-Cap ETF seeks to track the investment results of the Underlying Index before fees and expenses of the iShares Core S&P Mid-Cap ETF.

The iShares Core S&P Mid-Cap ETF may lend securities representing up to one-third of the value of the iShares Core S&P Mid-Cap ETF’s total assets (including the value of any collateral received).

The Underlying Index is a product of S&P Dow Jones Indices LLC (the “Index Provider” or “SPDJI”), which is independent of the iShares Core S&P Mid-Cap ETF and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.

Industry Concentration Policy.    The iShares Core S&P Mid-Cap ETF will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:

Underlying Fund Risk.    Because it invests approximately 50% of its assets in the iShares Core S&P Mid-Cap ETF, the Fund’s investment performance significantly depends on the investment performance of that underlying ETF. An investment in the Fund is subject to the risks associated with the iShares Core S&P Mid-Cap ETF. In particular, the Fund may be subject to the following risks as a result of its investment in the iShares Core S&P Mid-Cap ETF:
  • Asset Class Risk.    Securities and other assets in the Underlying Index or in the iShares Core S&P Mid-Cap ETF’s portfolio may underperform in comparison to the general financial markets, a particular financial market or other asset classes.
  • Assets under Management (AUM) Risk.    From time to time, an Authorized Participant (as defined in the Creations and Redemptions section of the iShares Core S&P Mid-Cap ETF’s prospectus), a third party investor, the iShares Core S&P Mid-Cap ETF investment adviser or any affiliate of the iShares Core S&P Mid-Cap ETF investment adviser, or a fund may invest in the iShares Core S&P Mid-Cap ETF and hold its investment for a specific period of time in order to facilitate commencement of the iShares Core S&P Mid-Cap ETF’s operations or for the Fund to achieve size or scale. There can be no assurance that any such entity would not redeem its investment or that the size of the iShares Core S&P Mid-Cap ETF would be maintained at such levels, which could negatively impact the iShares Core S&P Mid-Cap ETF.
  • Authorized Participant Concentration Risk.    Only an Authorized Participant may engage in creation or redemption transactions directly with the iShares Core S&P Mid-Cap ETF. The iShares Core S&P Mid-Cap ETF has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). To the extent that Authorized Participants exit the business or are unable to proceed with creation and/or redemption orders with respect to the iShares Core S&P Mid-Cap ETF and no other Authorized Participant is able to step forward to create or redeem Creation Units (as defined in the Purchase and Sale of iShares Core S&P Mid-Cap ETF Shares section of the iShares Core S&P Mid-Cap ETF’s Prospectus), iShares Core S&P Mid-Cap ETF shares may be more likely to trade at a premium or discount to net asset value (“NAV”) and possibly face trading halts and/or delisting.
  • Concentration Risk.    The iShares Core S&P Mid-Cap ETF may be susceptible to an increased risk of loss, including losses due to adverse events that affect the iShares Core S&P Mid-Cap ETF’s investments more than the market as a whole, to the extent that the iShares Core S&P Mid-Cap ETF’s investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class.
  • Cyber Security Risk.    Failures or breaches of the electronic systems of the iShares Core S&P Mid-Cap ETF, the iShares Core S&P Mid-Cap ETF’s investment adviser, distributor, and other service providers, market makers, Authorized Participants or the issuers of securities in which the iShares Core S&P Mid-Cap ETF invests have the ability to cause disruptions and negatively impact the iShares Core S&P Mid-Cap ETF’s business operations, potentially resulting in financial losses to the iShares Core S&P Mid-Cap ETF and its shareholders. While the iShares Core S&P Mid-Cap ETF has established business continuity plans and risk management systems seeking to address system breaches or failures, there are inherent limitations in such plans and systems. Furthermore the iShares Core S&P Mid-Cap ETF cannot control the cyber security plans and systems of the iShares Core S&P Mid-Cap ETF’s service providers, the Index Provider, market makers, Authorized Participants or issuers of securities in which the iShares Core S&P Mid-Cap ETF invests.
  • Index-Related Risk.    There is no guarantee that the iShares Core S&P Mid-Cap ETF will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the iShares Core S&P Mid-Cap ETF’s ability to adjust its exposure to the required levels in order to track the Underlying Index. Errors in index data, index computations and/or the construction of the Underlying Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the iShares Core S&P Mid-Cap ETF and its shareholders.
  • Management Risk.    As the iShares Core S&P Mid-Cap ETF may not fully replicate the Underlying Index, and it is subject to the risk that the iShares Core S&P Mid-Cap ETF‘s investment strategy may not produce the intended results.
  • Market Trading Risk.    The iShares Core S&P Mid-Cap ETF faces numerous market trading risks, including the potential lack of an active market for iShares Core S&P Mid-Cap ETF shares, losses from trading in secondary markets, periods of high volatility and disruptions in the creation/redemption process. Any of these factors, among others, may lead to the iShares Core S&P Mid-Cap ETF’s shares trading at a premium or discount to net asset value.
  • Operational Risk.    The iShares Core S&P Mid-Cap ETF is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the iShares Core S&P Mid-Cap ETF’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The iShares Core S&P Mid-Cap ETF and its investment adviser seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks.
  • Passive Investment Risk.    The iShares Core S&P Mid-Cap ETF is not actively managed and generally does not attempt to take defensive positions under any market conditions, including declining markets.
  • Securities Lending Risk.    The iShares Core S&P Mid-Cap ETF may engage in securities lending. Securities lending involves the risk that the iShares Core S&P Mid-Cap ETF may lose money because the borrower of the loaned securities fails to return the securities in a timely manner or at all. The iShares Core S&P Mid-Cap ETF could also lose money in the event of a decline in the value of collateral provided for loaned securities or a decline in the value of any investments made with cash collateral. These events could also trigger adverse tax consequences for the iShares Core S&P Mid-Cap ETF.
  • Tracking Error Risk.    Tracking error is the divergence of the iShares Core S&P Mid-Cap ETF’s performance from that of the Underlying Index. Tracking error may occur because of differences between the securities and other instruments held in the iShares Core S&P Mid-Cap ETF’s portfolio and those included in the Underlying Index, pricing differences (including differences between a security’s price at the local market close and the iShares Core S&P Mid-Cap ETF’s valuation of a security at the time of calculation of the iShares Core S&P Mid-Cap ETF’s NAV), transaction costs, the iShares Core S&P Mid-Cap ETF’s holding of uninvested cash, differences in timing of the accrual of or the valuation of dividends or interest, tax gains or losses, changes to the Underlying Index or the costs of complying with various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the iShares Core S&P Mid-Cap ETF incurs fees and expenses, while the Underlying Index does not.
Fund Risk.    The Fund as a whole is subject to the following risks:
  • Equity Securities Risk.    Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders.
  • Financials Sector Risk.    Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or recent or future regulation of the financials sector as a whole cannot be predicted. In recent years, cyber-attacks and technology malfunctions have become increasingly frequent in this sector and have caused significant losses to companies in this sector, which may negatively impact the Fund.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Industrials Sector Risk.    The industrials sector may be adversely affected by changes in the supply of and demand for products and services, product obsolescence, claims for environmental damage or product liability and general economic conditions, among other factors.
  • Information Technology Sector Risk.    Information technology companies face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights.
  • Issuer Risk.    Fund performance depends on the performance of individual securities to which the Fund has exposure. Changes in the financial condition or credit rating of an issuer of those securities may cause the value of the securities to decline.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Mid-Capitalization Companies Risk.    Investments and securities of mid-cap companies may involve greater risk of loss than investing in larger, more established companies. Mid-cap companies may have limited product lines, markets or financial resources and less seasoned management teams and may trade less frequently at a lower volume than more widely held securities. The prices of mid-cap companies’ stock tend to fluctuate in value more than those of larger capitalization stocks.
  • Risk of Investing in Developed Countries.    The Fund’s investment in a developed country issuer may subject the Fund to regulatory, political, currency, security, economic and other risks associated with developed countries. Developed countries tend to represent a significant portion of the global economy and have generally experienced slower economic growth than some less developed countries. In addition, developed countries may be impacted by changes to the economic conditions of certain key trading partners, regulatory burdens, debt burdens and the price or availability of certain commodities.
  • Risk of Investing in the United States.    The Fund has significant exposure to U.S. issuers. Certain changes in the U.S. economy, such as when the U.S. economy weakens or when its financial markets decline, may have an adverse effect on the securities to which the Fund has exposure.
  • Smaller Company Size Risk.    The securities of smaller capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund’s investments may not be actively traded, which increases the risk that the Fund’s investment adviser or sub-adviser may have difficulty selling securities the Fund holds.
  • Investment Company Securities Risk.    The Fund invests in securities of other open-end investment companies. The risks of investments in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company’s fees and expenses as well as their share of the Fund’s fees and expenses.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). Prior to May 1, 2017, the portion of the Fund’s assets invested in the iShares Core S&P Mid-Cap ETF were invested directly in equity securities pursuant to a different investment strategy. The returns in the bar chart and table below show how the Fund performed using the previous investment strategy.

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 19.06%,
                 during the second quarter of 2009.

Worst quarter: -29.32%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2500 Index measures the performance of the 2,500 smallest securities in the Russell 3000 Index, which represents approximately 20% of the total market capitalization of the Russell 3000 Index. Unlike an investment in the Fund, a theoretical investment in the Index does not reflect any expenses. It is not possible to invest directly in an index.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Small Mid Cap Equity Fund
1 Year
5 Year
10 Year
State Farm Small Mid Cap Equity Fund 11.79% 11.43% 5.72%
Russell 2500 Index (Returns reflect no deduction for fees, expenses or taxes.) 16.81% 14.33% 9.22%
XML 27 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Small Mid Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading SMALL/MID CAP EQUITY FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Small/Mid Cap Equity Fund (or the “Fund”) seeks long-term growth of capital.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2019
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 96% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 96.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the Total Annual Fund Operating Expenses after Fee Waiver in the first year, and the Total Annual Fund Operating Expenses for periods thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock State Farm Investment Management Corp. (the “Manager” or “SFIM”) has hired Bridgeway Capital Management, Inc. (“Bridgeway”) to select investments for approximately one-half of the Small/Mid Cap Equity Fund’s portfolio. The Manager monitors the performance of Bridgeway and the allocation of the Small/Mid Cap Equity Fund’s portfolio to Bridgeway. The Manager invests the other one-half of the Small/Mid Cap Equity Fund’s portfolio in shares of the iShares Core S&P Mid-Cap ETF, ticker symbol IJH, an exchange traded fund advised by BlackRock Fund Advisors (“BFA”). The iShares Core S&P Mid-Cap EFT seeks to track the investment results of the S&P Mid-Cap 400® (the “Underlying Index”). The Underlying Index measures the performance of the mid-capitalization sector of the U.S. equity market. The principal investment strategies employed by Bridgeway for its portion of the Small/Mid Cap Equity Fund’s portfolio and the principal investment strategies of BFA in managing the iShares Core S&P Mid-Cap ETF are discussed separately below.

Bridgeway

Bridgeway primarily invests its segment of the Fund in a diversified portfolio of small capitalization stocks. Bridgeway defines “small stocks” as those whose market capitalization (stock market value) falls within the range of the Russell 2000 Index, an unmanaged, market value weighted index, which measures performance of approximately 2,000 companies that are between the 1,000th and 3,000th largest in the market with dividends reinvested. The Russell 2000 Index is reconstituted from time to time. The market capitalization of companies in which Bridgeway may invest may vary with market conditions. Bridgeway selects stocks using a statistically driven approach.

Bridgeway invests in small capitalization stocks in the “value” category, which it defines as those stocks that Bridgeway believes are priced cheaply relative to some financial measures of worth, such as the ratio of price to earnings, price to sales or price to cash flow. Under normal conditions, at least 80% of Bridgeway’s portion of the Fund’s net assets (plus borrowings for investment purposes) is invested in stocks from among those in the small cap value category at the time of purchase. However, Bridgeway will not necessarily sell a stock if it “migrates” to a different category after purchase.

Bridgeway may invest up to 10% of its segment of the Fund’s assets primarily in common stocks and depository receipts of foreign companies.

Bridgeway may sell individual securities for several reasons including: the investment purpose of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.

The Manager’s Investment of Fund Assets in the iShares Core S&P Mid-Cap ETF

The Manager invests approximately one-half of the Small/Mid Cap Equity Fund’s portfolio in shares of the iShares Core S&P Mid-Cap ETF. The following discussion relates to the principal investment strategies of the iShares Core S&P Mid-Cap ETF.

The iShares Core S&P Mid-Cap ETF seeks to track the investment results of the Underlying Index, which measures the performance of the mid-capitalization sector of the U.S. equity market. As of March 30, 2018, the Underlying Index included approximately 6.23% of the market capitalization of all U.S. equity securities. As of March 30, 2018, the stocks in the Underlying Index have a market capitalization between $1.6 billion and $6.8 billion at time of entry, which may fluctuate depending on the overall level of the equity markets, and are selected for liquidity and industry group representation. The Underlying Index consists of stocks from a broad range of industries. Components primarily include financials, industrials and information technology companies. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time.

BFA uses a “passive” or indexing approach to try to achieve the iShares Core S&P Mid-Cap ETF’s investment objective. Unlike many investment companies, the iShares Core S&P Mid-Cap ETF does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.

Indexing may eliminate the chance that the iShares Core S&P Mid-Cap ETF will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies.

BFA uses a representative sampling indexing strategy to manage the iShares Core S&P Mid-Cap ETF. Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Underlying Index. The iShares Core S&P Mid-Cap ETF may or may not hold all of the securities in the Underlying Index.

The iShares Core S&P Mid-Cap ETF generally invests at least 90% of its assets in securities of the Underlying Index and in depositary receipts representing securities of the Underlying Index. The iShares Core S&P Mid-Cap ETF may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the iShares Core S&P Mid-Cap ETF track the Underlying Index. The iShares Core S&P Mid-Cap ETF seeks to track the investment results of the Underlying Index before fees and expenses of the iShares Core S&P Mid-Cap ETF.

The iShares Core S&P Mid-Cap ETF may lend securities representing up to one-third of the value of the iShares Core S&P Mid-Cap ETF’s total assets (including the value of any collateral received).

The Underlying Index is a product of S&P Dow Jones Indices LLC (the “Index Provider” or “SPDJI”), which is independent of the iShares Core S&P Mid-Cap ETF and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.

Industry Concentration Policy.    The iShares Core S&P Mid-Cap ETF will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration Industry Concentration Policy.    The iShares Core S&P Mid-Cap ETF will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:

Underlying Fund Risk.    Because it invests approximately 50% of its assets in the iShares Core S&P Mid-Cap ETF, the Fund’s investment performance significantly depends on the investment performance of that underlying ETF. An investment in the Fund is subject to the risks associated with the iShares Core S&P Mid-Cap ETF. In particular, the Fund may be subject to the following risks as a result of its investment in the iShares Core S&P Mid-Cap ETF:
  • Asset Class Risk.    Securities and other assets in the Underlying Index or in the iShares Core S&P Mid-Cap ETF’s portfolio may underperform in comparison to the general financial markets, a particular financial market or other asset classes.
  • Assets under Management (AUM) Risk.    From time to time, an Authorized Participant (as defined in the Creations and Redemptions section of the iShares Core S&P Mid-Cap ETF’s prospectus), a third party investor, the iShares Core S&P Mid-Cap ETF investment adviser or any affiliate of the iShares Core S&P Mid-Cap ETF investment adviser, or a fund may invest in the iShares Core S&P Mid-Cap ETF and hold its investment for a specific period of time in order to facilitate commencement of the iShares Core S&P Mid-Cap ETF’s operations or for the Fund to achieve size or scale. There can be no assurance that any such entity would not redeem its investment or that the size of the iShares Core S&P Mid-Cap ETF would be maintained at such levels, which could negatively impact the iShares Core S&P Mid-Cap ETF.
  • Authorized Participant Concentration Risk.    Only an Authorized Participant may engage in creation or redemption transactions directly with the iShares Core S&P Mid-Cap ETF. The iShares Core S&P Mid-Cap ETF has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). To the extent that Authorized Participants exit the business or are unable to proceed with creation and/or redemption orders with respect to the iShares Core S&P Mid-Cap ETF and no other Authorized Participant is able to step forward to create or redeem Creation Units (as defined in the Purchase and Sale of iShares Core S&P Mid-Cap ETF Shares section of the iShares Core S&P Mid-Cap ETF’s Prospectus), iShares Core S&P Mid-Cap ETF shares may be more likely to trade at a premium or discount to net asset value (“NAV”) and possibly face trading halts and/or delisting.
  • Concentration Risk.    The iShares Core S&P Mid-Cap ETF may be susceptible to an increased risk of loss, including losses due to adverse events that affect the iShares Core S&P Mid-Cap ETF’s investments more than the market as a whole, to the extent that the iShares Core S&P Mid-Cap ETF’s investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class.
  • Cyber Security Risk.    Failures or breaches of the electronic systems of the iShares Core S&P Mid-Cap ETF, the iShares Core S&P Mid-Cap ETF’s investment adviser, distributor, and other service providers, market makers, Authorized Participants or the issuers of securities in which the iShares Core S&P Mid-Cap ETF invests have the ability to cause disruptions and negatively impact the iShares Core S&P Mid-Cap ETF’s business operations, potentially resulting in financial losses to the iShares Core S&P Mid-Cap ETF and its shareholders. While the iShares Core S&P Mid-Cap ETF has established business continuity plans and risk management systems seeking to address system breaches or failures, there are inherent limitations in such plans and systems. Furthermore the iShares Core S&P Mid-Cap ETF cannot control the cyber security plans and systems of the iShares Core S&P Mid-Cap ETF’s service providers, the Index Provider, market makers, Authorized Participants or issuers of securities in which the iShares Core S&P Mid-Cap ETF invests.
  • Index-Related Risk.    There is no guarantee that the iShares Core S&P Mid-Cap ETF will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the iShares Core S&P Mid-Cap ETF’s ability to adjust its exposure to the required levels in order to track the Underlying Index. Errors in index data, index computations and/or the construction of the Underlying Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the iShares Core S&P Mid-Cap ETF and its shareholders.
  • Management Risk.    As the iShares Core S&P Mid-Cap ETF may not fully replicate the Underlying Index, and it is subject to the risk that the iShares Core S&P Mid-Cap ETF‘s investment strategy may not produce the intended results.
  • Market Trading Risk.    The iShares Core S&P Mid-Cap ETF faces numerous market trading risks, including the potential lack of an active market for iShares Core S&P Mid-Cap ETF shares, losses from trading in secondary markets, periods of high volatility and disruptions in the creation/redemption process. Any of these factors, among others, may lead to the iShares Core S&P Mid-Cap ETF’s shares trading at a premium or discount to net asset value.
  • Operational Risk.    The iShares Core S&P Mid-Cap ETF is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the iShares Core S&P Mid-Cap ETF’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The iShares Core S&P Mid-Cap ETF and its investment adviser seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks.
  • Passive Investment Risk.    The iShares Core S&P Mid-Cap ETF is not actively managed and generally does not attempt to take defensive positions under any market conditions, including declining markets.
  • Securities Lending Risk.    The iShares Core S&P Mid-Cap ETF may engage in securities lending. Securities lending involves the risk that the iShares Core S&P Mid-Cap ETF may lose money because the borrower of the loaned securities fails to return the securities in a timely manner or at all. The iShares Core S&P Mid-Cap ETF could also lose money in the event of a decline in the value of collateral provided for loaned securities or a decline in the value of any investments made with cash collateral. These events could also trigger adverse tax consequences for the iShares Core S&P Mid-Cap ETF.
  • Tracking Error Risk.    Tracking error is the divergence of the iShares Core S&P Mid-Cap ETF’s performance from that of the Underlying Index. Tracking error may occur because of differences between the securities and other instruments held in the iShares Core S&P Mid-Cap ETF’s portfolio and those included in the Underlying Index, pricing differences (including differences between a security’s price at the local market close and the iShares Core S&P Mid-Cap ETF’s valuation of a security at the time of calculation of the iShares Core S&P Mid-Cap ETF’s NAV), transaction costs, the iShares Core S&P Mid-Cap ETF’s holding of uninvested cash, differences in timing of the accrual of or the valuation of dividends or interest, tax gains or losses, changes to the Underlying Index or the costs of complying with various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the iShares Core S&P Mid-Cap ETF incurs fees and expenses, while the Underlying Index does not.
Fund Risk.    The Fund as a whole is subject to the following risks:
  • Equity Securities Risk.    Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Holders of common stock generally are subject to more risks than holders of preferred stock and debt securities because the status of common stockholders upon the bankruptcy of the issuer is subordinated to that of preferred stock and debt holders.
  • Financials Sector Risk.    Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or recent or future regulation of the financials sector as a whole cannot be predicted. In recent years, cyber-attacks and technology malfunctions have become increasingly frequent in this sector and have caused significant losses to companies in this sector, which may negatively impact the Fund.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Industrials Sector Risk.    The industrials sector may be adversely affected by changes in the supply of and demand for products and services, product obsolescence, claims for environmental damage or product liability and general economic conditions, among other factors.
  • Information Technology Sector Risk.    Information technology companies face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights.
  • Issuer Risk.    Fund performance depends on the performance of individual securities to which the Fund has exposure. Changes in the financial condition or credit rating of an issuer of those securities may cause the value of the securities to decline.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Mid-Capitalization Companies Risk.    Investments and securities of mid-cap companies may involve greater risk of loss than investing in larger, more established companies. Mid-cap companies may have limited product lines, markets or financial resources and less seasoned management teams and may trade less frequently at a lower volume than more widely held securities. The prices of mid-cap companies’ stock tend to fluctuate in value more than those of larger capitalization stocks.
  • Risk of Investing in Developed Countries.    The Fund’s investment in a developed country issuer may subject the Fund to regulatory, political, currency, security, economic and other risks associated with developed countries. Developed countries tend to represent a significant portion of the global economy and have generally experienced slower economic growth than some less developed countries. In addition, developed countries may be impacted by changes to the economic conditions of certain key trading partners, regulatory burdens, debt burdens and the price or availability of certain commodities.
  • Risk of Investing in the United States.    The Fund has significant exposure to U.S. issuers. Certain changes in the U.S. economy, such as when the U.S. economy weakens or when its financial markets decline, may have an adverse effect on the securities to which the Fund has exposure.
  • Smaller Company Size Risk.    The securities of smaller capitalization companies are often more difficult to value or dispose of, more difficult to obtain information about, and more volatile than stocks of larger, more established companies. In addition, the markets for the Fund’s investments may not be actively traded, which increases the risk that the Fund’s investment adviser or sub-adviser may have difficulty selling securities the Fund holds.
  • Investment Company Securities Risk.    The Fund invests in securities of other open-end investment companies. The risks of investments in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company’s fees and expenses as well as their share of the Fund’s fees and expenses.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund). Prior to May 1, 2017, the portion of the Fund’s assets invested in the iShares Core S&P Mid-Cap ETF were invested directly in equity securities pursuant to a different investment strategy. The returns in the bar chart and table below show how the Fund performed using the previous investment strategy.

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 19.06%,
                 during the second quarter of 2009.

Worst quarter: -29.32%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Russell 2500 Index for the 1, 5 and 10-year periods ended 12/31/2017. The Russell 2500 Index measures the performance of the 2,500 smallest securities in the Russell 3000 Index, which represents approximately 20% of the total market capitalization of the Russell 3000 Index. Unlike an investment in the Fund, a theoretical investment in the Index does not reflect any expenses. It is not possible to invest directly in an index.
State Farm Small Mid Cap Equity Fund | State Farm Small Mid Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.12%
Acquired Fund Fees & Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.95%
Less: Fee Waiver rr_FeeWaiverOrReimbursementOverAssets (0.29%)
Total Annual Fund Operating Expenses after Fee Waiver rr_NetExpensesOverAssets 0.66% [2]
1 Year rr_ExpenseExampleYear01 $ 67
3 Years rr_ExpenseExampleYear03 274
5 Years rr_ExpenseExampleYear05 497
10 Years rr_ExpenseExampleYear10 $ 1,140
2008 rr_AnnualReturn2008 (45.36%)
2009 rr_AnnualReturn2009 30.12%
2010 rr_AnnualReturn2010 23.89%
2011 rr_AnnualReturn2011 (2.08%)
2012 rr_AnnualReturn2012 17.77%
2013 rr_AnnualReturn2013 34.96%
2014 rr_AnnualReturn2014 4.94%
2015 rr_AnnualReturn2015 (3.99%)
2016 rr_AnnualReturn2016 13.01%
2017 rr_AnnualReturn2017 11.79%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.06%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (29.32%)
1 Year rr_AverageAnnualReturnYear01 11.79%
5 Year rr_AverageAnnualReturnYear05 11.43%
10 Year rr_AverageAnnualReturnYear10 5.72%
State Farm Small Mid Cap Equity Fund | Russell 2500 Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.81%
5 Year rr_AverageAnnualReturnYear05 14.33%
10 Year rr_AverageAnnualReturnYear10 9.22%
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
[2] State Farm Investment Management Corp. (“SFIM”), the investment adviser to the Fund, has contractually agreed to waive 0.29% of management fees for the Small/Mid Cap Equity Fund. This fee waiver applies through April 30, 2019, and SFIM may not discontinue or modify this waiver without the approval of the Board of Trustees of State Farm Variable Product Trust.
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State Farm International Equity Fund
INTERNATIONAL EQUITY FUND
Investment Objective:
The International Equity Fund (the “Fund”) seeks long-term growth of capital.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm International Equity Fund
State Farm International Equity Fund
Management Fees 0.80%
Distribution and Service (12b-1) Fees none
Other Expenses 0.33%
Total Annual Fund Operating Expenses 1.13%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm International Equity Fund | State Farm International Equity Fund | USD ($) 115 359 622 1,375
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 46% of the average value of its portfolio.
Principal Investment Strategies
Two different investment sub-advisers, Marsico Capital Management, LLC (“Marsico”) and Northern Cross, LLC (“Northern Cross”), select investments for the Fund. Marsico and Northern Cross each manage approximately one-half of the Fund’s portfolio. State Farm Investment Management Corp. (the “Manager” or “SFIM”) monitors the performance of the sub-advisers and the split of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below.

Marsico

Marsico invests its portion of the Fund primarily in common stock of foreign companies that it selects for their long-term growth potential. Marsico may invest its portion of the Fund in an unlimited number of companies of any size throughout the world, and normally invests in the securities of issuers that are economically tied to at least four different foreign countries. The Fund may invest in securities of companies economically tied to emerging markets. Some issuers of securities in the Fund’s portfolio may be based in or economically tied to the U.S. In selecting investments for the Fund, Marsico uses an approach that combines ‘top-down’ macro-economic analysis that focuses on broad financial and economic indicators with ‘bottom-up’ stock selection that initially focuses on individual stocks.

Marsico may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.

Northern Cross

Northern Cross invests its portion of the Fund in securities issued by foreign companies which it believes have the potential for long term margin expansion. Northern Cross primarily focuses on common stocks priced cheaply relative to some financial measure of worth, such as ratios of price to earnings, price to sales or price to cash flow. Under normal market conditions Northern Cross will invest its portion of the Fund in 60-80 companies with a diversified representation of sectors. In selecting securities for the Fund, Northern Cross gives careful consideration to currency, political stability and other effects of international investing.

Northern Cross may sell individual securities for several reasons including: full valuation of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 25.61%,
                 during the second quarter of 2009.

Worst quarter: -23.84%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Morgan Stanley Capital International All Country World Index (ex-U.S.) (the “MSCI ACWI ex-U.S. Index”) for the 1, 5 and 10-year periods ended 12/31/2017. MSCI ACWI ex-U.S. Index is a free float adjusted market capitalization index that is designed to measure equity market performance in global developed and emerging markets, excluding the United States.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm International Equity Fund
1 Year
5 Year
10 Year
State Farm International Equity Fund 34.35% 7.13% 1.73%
MSCI ACWI ex-US Index (Returns reflect no deduction for fees, expenses or taxes.) 27.19% 6.80% 1.84%

XML 30 R43.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading INTERNATIONAL EQUITY FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The International Equity Fund (the “Fund”) seeks long-term growth of capital.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 46% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 46.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Two different investment sub-advisers, Marsico Capital Management, LLC (“Marsico”) and Northern Cross, LLC (“Northern Cross”), select investments for the Fund. Marsico and Northern Cross each manage approximately one-half of the Fund’s portfolio. State Farm Investment Management Corp. (the “Manager” or “SFIM”) monitors the performance of the sub-advisers and the split of the portfolio between the sub-advisers. The principal investment strategies employed by the two sub-advisers for their respective portions of the portfolio are discussed separately below.

Marsico

Marsico invests its portion of the Fund primarily in common stock of foreign companies that it selects for their long-term growth potential. Marsico may invest its portion of the Fund in an unlimited number of companies of any size throughout the world, and normally invests in the securities of issuers that are economically tied to at least four different foreign countries. The Fund may invest in securities of companies economically tied to emerging markets. Some issuers of securities in the Fund’s portfolio may be based in or economically tied to the U.S. In selecting investments for the Fund, Marsico uses an approach that combines ‘top-down’ macro-economic analysis that focuses on broad financial and economic indicators with ‘bottom-up’ stock selection that initially focuses on individual stocks.

Marsico may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.

Northern Cross

Northern Cross invests its portion of the Fund in securities issued by foreign companies which it believes have the potential for long term margin expansion. Northern Cross primarily focuses on common stocks priced cheaply relative to some financial measure of worth, such as ratios of price to earnings, price to sales or price to cash flow. Under normal market conditions Northern Cross will invest its portion of the Fund in 60-80 companies with a diversified representation of sectors. In selecting securities for the Fund, Northern Cross gives careful consideration to currency, political stability and other effects of international investing.

Northern Cross may sell individual securities for several reasons including: full valuation of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Foreign Investing Risk.    Investing in foreign securities involves higher trading and custody costs than investing in U.S. companies. Accounting, legal and reporting practices are different than in the U.S. and regulation is often less stringent. Potential political or economic instability presents risks, as does the fluctuation in currency exchange rates, as well as the possible imposition of exchange control regulation or currency restrictions that could prevent the conversion of local currencies into U.S. dollars. Some foreign markets are considered to be emerging market countries. Investments in these countries subject the Fund to a greater risk of loss than investments in a developed country. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, greater risk of market shut down and more governmental limitations on foreign investment policy than those typically found in a developed market.
  • Management Risk.    The assessment by the Fund’s investment adviser or sub-adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
An investment in the Fund may be appropriate for you if you intend to maintain your investment for many years and through multiple stock market cycles. Because of stock market volatility, the Fund may not be a suitable investment if you have a short-term investment horizon or if you are unwilling to accept fluctuations in share price, including significant declines over a given period.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 25.61%,
                 during the second quarter of 2009.

Worst quarter: -23.84%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Morgan Stanley Capital International All Country World Index (ex-U.S.) (the “MSCI ACWI ex-U.S. Index”) for the 1, 5 and 10-year periods ended 12/31/2017. MSCI ACWI ex-U.S. Index is a free float adjusted market capitalization index that is designed to measure equity market performance in global developed and emerging markets, excluding the United States.
State Farm International Equity Fund | State Farm International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.33%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.13%
1 Year rr_ExpenseExampleYear01 $ 115
3 Years rr_ExpenseExampleYear03 359
5 Years rr_ExpenseExampleYear05 622
10 Years rr_ExpenseExampleYear10 $ 1,375
2008 rr_AnnualReturn2008 (47.03%)
2009 rr_AnnualReturn2009 33.75%
2010 rr_AnnualReturn2010 12.52%
2011 rr_AnnualReturn2011 (13.79%)
2012 rr_AnnualReturn2012 19.19%
2013 rr_AnnualReturn2013 17.97%
2014 rr_AnnualReturn2014 (5.96%)
2015 rr_AnnualReturn2015 (0.17%)
2016 rr_AnnualReturn2016 (5.17%)
2017 rr_AnnualReturn2017 34.35%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 25.61%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.84%)
1 Year rr_AverageAnnualReturnYear01 34.35%
5 Year rr_AverageAnnualReturnYear05 7.13%
10 Year rr_AverageAnnualReturnYear10 1.73%
State Farm International Equity Fund | MSCI ACWI ex-US Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 27.19%
5 Year rr_AverageAnnualReturnYear05 6.80%
10 Year rr_AverageAnnualReturnYear10 1.84%
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State Farm Bond Fund
BOND FUND
Investment Objective:
The Bond Fund (the “Fund”) seeks to realize over a period of years the highest yield consistent with prudent investment management through current income and capital gains.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Bond Fund
State Farm Bond Fund
Management Fees 0.50%
Distribution and Service (12b-1) Fees none
Other Expenses 0.10%
Total Annual Fund Operating Expenses 0.60%
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Bond Fund | State Farm Bond Fund | USD ($) 61 192 335 750
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 19% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities. Under normal circumstances, the Fund invests at least 80% of its net assets plus any borrowings in investment grade bonds or in bonds that are not rated, but that State Farm Investment Management Corp. (“SFIM” or the “Manager”) has determined to be of comparable quality. A bond is investment grade if Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Financial Services LLC, a division of McGraw Hill Financial (“S&P”) has rated the bond in one of their respective four highest rating categories. Non-investment grade bonds are commonly referred to as “junk bonds.” The Fund may invest in any of the following instruments:
  • Corporate Debt Securities:    investment grade securities issued by corporations and to a limited extent (up to 20% of its assets), in lower rated securities
  • U.S. Government Debt Securities:    securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities
  • Foreign Government Debt Securities:    investment grade securities issued or guaranteed by a foreign government or its agencies or instrumentalities, payable in U.S. dollars
  • Asset Backed and Mortgage Backed Securities:    investment grade securities backed by mortgages, consumer loans and other assets
  • Other Issuer Debt Securities:    the Fund may invest up to 20% of its assets in non-investment grade debt securities and preferred stocks that are convertible into common stocks as well as nonconvertible preferred stocks or securities.
In making investment decisions on specific securities, the Manager looks for companies with one or more of the following characteristics:
  • Strong cash flow and a recurring revenue stream
  • A strong industry position
  • A strong financial position
  • Strong management with a clearly defined strategy
  • Capability to develop new or superior products or services
The Manager may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Management Risk.    The assessment by the Fund’s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Interest Rate Risk and Call Risk.    The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Prepayment and Extension Risk.    The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Liquidity Risk.    The investment adviser to the Fund may have difficulty selling securities the Fund holds at the time it would like to sell, and at the value the Fund has placed on those securities.
  • Income Risk.    The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
You may want to invest in the Fund if you are seeking higher potential returns than money market funds and are willing to accept the price volatility of bonds with longer maturities, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon, want the greater growth potential of an investment in equity securities or require stability of your principal.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 5.16%,
                 during the second quarter of 2009.

Worst quarter: -2.54%,
                 during the second quarter of 2013.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. The Bloomberg Barclays Intermediate Government/Credit Index includes U.S. Government and corporate bonds maturing within one to ten years and an outstanding par value of at least $250 million.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Bond Fund
1 Year
5 Year
10 Year
State Farm Bond Fund 2.15% 1.32% 3.48%
Bloomberg Barclays Intermediate Govt/Cred Index (Returns reflect no deduction for fees, expenses or taxes.) 2.14% 1.50% 3.32%
XML 33 R49.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading BOND FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Bond Fund (the “Fund”) seeks to realize over a period of years the highest yield consistent with prudent investment management through current income and capital gains.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 19% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 19.00%
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities. Under normal circumstances, the Fund invests at least 80% of its net assets plus any borrowings in investment grade bonds or in bonds that are not rated, but that State Farm Investment Management Corp. (“SFIM” or the “Manager”) has determined to be of comparable quality. A bond is investment grade if Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Financial Services LLC, a division of McGraw Hill Financial (“S&P”) has rated the bond in one of their respective four highest rating categories. Non-investment grade bonds are commonly referred to as “junk bonds.” The Fund may invest in any of the following instruments:
  • Corporate Debt Securities:    investment grade securities issued by corporations and to a limited extent (up to 20% of its assets), in lower rated securities
  • U.S. Government Debt Securities:    securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities
  • Foreign Government Debt Securities:    investment grade securities issued or guaranteed by a foreign government or its agencies or instrumentalities, payable in U.S. dollars
  • Asset Backed and Mortgage Backed Securities:    investment grade securities backed by mortgages, consumer loans and other assets
  • Other Issuer Debt Securities:    the Fund may invest up to 20% of its assets in non-investment grade debt securities and preferred stocks that are convertible into common stocks as well as nonconvertible preferred stocks or securities.
In making investment decisions on specific securities, the Manager looks for companies with one or more of the following characteristics:
  • Strong cash flow and a recurring revenue stream
  • A strong industry position
  • A strong financial position
  • Strong management with a clearly defined strategy
  • Capability to develop new or superior products or services
The Manager may sell individual securities for several reasons including: price target of the security has been achieved, fundamental deterioration of company prospects, or better alternatives exist. Securities may also be sold based upon tax considerations, liquidity needs or other portfolio management considerations.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency. An investor in the Fund is subject to the following types of risks:
  • Management Risk.    The assessment by the Fund’s investment adviser of the securities to be purchased or sold by the Fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Interest Rate Risk and Call Risk.    The risk that the bonds the Fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, the Fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Prepayment and Extension Risk.    The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to the Fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Liquidity Risk.    The investment adviser to the Fund may have difficulty selling securities the Fund holds at the time it would like to sell, and at the value the Fund has placed on those securities.
  • Income Risk.    The risk that the income from the bonds the Fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
You may want to invest in the Fund if you are seeking higher potential returns than money market funds and are willing to accept the price volatility of bonds with longer maturities, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon, want the greater growth potential of an investment in equity securities or require stability of your principal.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the FDIC or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 5.16%,
                 during the second quarter of 2009.

Worst quarter: -2.54%,
                 during the second quarter of 2013.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. The Bloomberg Barclays Intermediate Government/Credit Index includes U.S. Government and corporate bonds maturing within one to ten years and an outstanding par value of at least $250 million.
State Farm Bond Fund | State Farm Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.50%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.10%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.60%
1 Year rr_ExpenseExampleYear01 $ 61
3 Years rr_ExpenseExampleYear03 192
5 Years rr_ExpenseExampleYear05 335
10 Years rr_ExpenseExampleYear10 $ 750
2008 rr_AnnualReturn2008 0.95%
2009 rr_AnnualReturn2009 12.25%
2010 rr_AnnualReturn2010 5.54%
2011 rr_AnnualReturn2011 6.58%
2012 rr_AnnualReturn2012 3.45%
2013 rr_AnnualReturn2013 (2.06%)
2014 rr_AnnualReturn2014 3.52%
2015 rr_AnnualReturn2015 1.01%
2016 rr_AnnualReturn2016 2.08%
2017 rr_AnnualReturn2017 2.15%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.16%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.54%)
1 Year rr_AverageAnnualReturnYear01 2.15%
5 Year rr_AverageAnnualReturnYear05 1.32%
10 Year rr_AverageAnnualReturnYear10 3.48%
State Farm Bond Fund | Bloomberg Barclays Intermediate Govt/Cred Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.14%
5 Year rr_AverageAnnualReturnYear05 1.50%
10 Year rr_AverageAnnualReturnYear10 3.32%
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State Farm Stock and Bond Balanced Fund
STOCK AND BOND BALANCED FUND
Investment Objective:
The Stock and Bond Balanced Fund (the “Fund”) seeks long-term growth of capital, balanced with current income.
What are the costs of investing in the Fund?
This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
State Farm Stock and Bond Balanced Fund
State Farm Stock and Bond Balanced Fund
Management Fees none
Distribution and Service (12b-1) Fees none
Other Expenses 0.09%
Acquired Fund Fees & Expenses 0.31% [1]
Total Annual Fund Operating Expenses 0.40%
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
State Farm Stock and Bond Balanced Fund | State Farm Stock and Bond Balanced Fund | USD ($) 41 128 224 505
The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests substantially all of its assets in shares of the Large Cap Equity Index Fund and the Bond Fund. The Fund attempts to maintain approximately 60% of its assets in shares of the Large Cap Equity Index Fund and 40% of its assets in shares of the Bond Fund. The Large Cap Equity Index Fund primarily invests in stocks of issuers that are listed on the S&P 500 Index. The Bond Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities or in bonds that are not rated, but that State Farm Investment Management Corp. (“SFIM” or the “Manager”) has determined to be of comparable quality.

In making investment decisions on specific securities for the Bond Fund, the Manager looks for companies with one or more of the following characteristics:
  • Strong cash flow and a recurring revenue stream
  • A strong industry position
  • A strong financial position
  • Strong management with a clearly defined strategy
  • Capability to develop new or superior products or services
Principal Risks of Investing in the Fund
Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by a fund’s investment adviser or sub-adviser of the securities to be purchased or sold by a fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Large Cap Equity Index Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that the Large Cap Equity Index Fund will succeed, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to an index fund, a fund’s investment adviser or sub-adviser, an index fund may hold stocks in companies that present risks that a fund’s investment adviser or sub-adviser researching individual stocks might avoid.
  • Interest Rate Risk and Call Risk.    The risk that the bonds a fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, a fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Prepayment and Extension Risk.    The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to a fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Liquidity Risk.    The investment adviser to a fund may have difficulty selling securities a fund holds at the time it would like to sell, and at the value a fund has placed on those securities.
  • Income Risk.    The risk that the income from the bonds a fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
  • Investment Company Securities Risk.    The Fund invests in securities of other open-end investment companies. The risks of investment in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company’s fees and expenses as well as their share of the Fund’s fees and expenses.
You may want to consider investing in the Fund if you are seeking higher potential returns than money market funds and are willing to accept a moderate level of volatility, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon or require stability of your principal.
Investment Results
The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Annual Total Returns For Calendar Years
Bar Chart
The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 11.29%,
                 during the second quarter of 2009.

Worst quarter: -12.51%,
                 during the fourth quarter of 2008.
The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index and Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. SFIM computes the Blended Benchmark by using 60% S&P 500 Index and 40% Bloomberg Barclays Intermediate Government/Credit Index.
Average Annual Total Returns
(for the periods ended December 31, 2017)
Average Annual Total Returns - State Farm Stock and Bond Balanced Fund
1 Year
5 Year
10 Year
State Farm Stock and Bond Balanced Fund 13.96% 9.93% 6.70%
S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.) 21.83% 15.79% 8.50%
Bloomberg Barclays Intermediate Govt/Cred Index (Returns reflect no deduction for fees, expenses or taxes.) 2.14% 1.50% 3.32%
Blended Benchmark (Returns reflect no deduction for fees, expenses or taxes.) 13.59% 9.99% 6.70%
XML 36 R55.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM VARIABLE PRODUCT TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
State Farm Stock and Bond Balanced Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading STOCK AND BOND BALANCED FUND
Objective [Heading] rr_ObjectiveHeading Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Stock and Bond Balanced Fund (the “Fund”) seeks long-term growth of capital, balanced with current income.
Expense [Heading] rr_ExpenseHeading What are the costs of investing in the Fund?
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses you may pay if you buy and hold shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The example does not reflect additional charges and expenses that are described in the prospectuses for the variable deferred annuity and variable universal life insurance policies issued by State Farm Life Insurance Company and State Farm Life and Accident Assurance Company. If those charges and expenses were included, the expenses would be higher.
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests substantially all of its assets in shares of the Large Cap Equity Index Fund and the Bond Fund. The Fund attempts to maintain approximately 60% of its assets in shares of the Large Cap Equity Index Fund and 40% of its assets in shares of the Bond Fund. The Large Cap Equity Index Fund primarily invests in stocks of issuers that are listed on the S&P 500 Index. The Bond Fund invests primarily in investment grade bonds issued by U.S. companies, U.S. Government and agency obligations, and mortgage backed securities or in bonds that are not rated, but that State Farm Investment Management Corp. (“SFIM” or the “Manager”) has determined to be of comparable quality.

In making investment decisions on specific securities for the Bond Fund, the Manager looks for companies with one or more of the following characteristics:
  • Strong cash flow and a recurring revenue stream
  • A strong industry position
  • A strong financial position
  • Strong management with a clearly defined strategy
  • Capability to develop new or superior products or services
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund. An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency. An investor in the Fund is subject to the following types of risks:
  • Equity Securities Risk.    Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
  • Market Risk.    Stock prices may fluctuate widely over short or even extended periods in response to company, market, or economic news. Stock markets also tend to move in cycles, with periods of rising stock prices and periods of falling stock prices.
  • Management Risk.    The assessment by a fund’s investment adviser or sub-adviser of the securities to be purchased or sold by a fund may prove incorrect, resulting in losses or poor performance, even in a rising market.
  • Index Fund Risk.    An index fund has operating and other expenses, while an index does not. As a result, while the Large Cap Equity Index Fund will attempt to track its benchmark index as closely as possible, there is no guarantee that the Large Cap Equity Index Fund will succeed, and it will tend to underperform the index to some degree over time. If an index fund is properly correlated to its stated index, that fund will perform poorly when the index performs poorly.
  • Security Selection Risk.    Because securities market indices are developed by persons unrelated to an index fund, a fund’s investment adviser or sub-adviser, an index fund may hold stocks in companies that present risks that a fund’s investment adviser or sub-adviser researching individual stocks might avoid.
  • Interest Rate Risk and Call Risk.    The risk that the bonds a fund holds may decline in value due to an increase in interest rates. All bonds, including those issued by the U.S. Government, are subject to interest rate risk. Bonds with longer maturities are affected more by interest rate movements than bonds with shorter maturities. Another risk associated with interest rate changes is call risk. Call risk is the risk that during periods of falling interest rates, a bond issuer will “call” or repay a higher yielding bond before the maturity date of the bond. Under these circumstances, a fund may have to reinvest the proceeds in an investment that provides a lower yield than the called bond.
  • Prepayment and Extension Risk.    The risk that homeowners or consumers may alter the pace of repayment on their mortgage or consumer loans, which may affect the yield of mortgage-or asset-backed securities that are backed by such loans.
  • Credit Risk.    The risk that a bond issuer fails to make principal or interest payments when due to a fund, or that the credit quality of the issuer falls. Corporate bonds are subject to greater credit risk than U.S. Government bonds.
  • Inflation Risk.    The risk that the value of the assets or income from an investment will be worth less in the future as inflation decreases the value of money.
  • Liquidity Risk.    The investment adviser to a fund may have difficulty selling securities a fund holds at the time it would like to sell, and at the value a fund has placed on those securities.
  • Income Risk.    The risk that the income from the bonds a fund holds will decline. This risk applies when the Fund invests the proceeds from new share sales, or from matured or called bonds, at market interest rates that are below the portfolio’s current earnings rate.
  • Investment Company Securities Risk.    The Fund invests in securities of other open-end investment companies. The risks of investment in other investment companies typically reflect the risks of the types of securities in which those underlying funds invest. When the Fund invests in another investment company, shareholders of the Fund bear their proportionate share of the other investment company’s fees and expenses as well as their share of the Fund’s fees and expenses.
You may want to consider investing in the Fund if you are seeking higher potential returns than money market funds and are willing to accept a moderate level of volatility, want to diversify your investments, are seeking an income mutual fund for an asset allocation program or are retired or nearing retirement. You may not want to invest in the Fund if you are investing for maximum return over a long time horizon or require stability of your principal.
Risk Lose Money [Text] rr_RiskLoseMoney Investors who purchase shares of the Fund are subject to various risks, and it is possible for you to lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in this Fund is not a deposit of any bank or other insured depository institution and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or another government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Investment Results
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).

The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table illustrate certain risks of investing in the Fund by showing changes in the Fund’s performance from year to year. This information is intended to help you assess the variability of the Fund’s returns over the periods listed to a measure of market performance (and consequently, the potential returns and risks of an investment in the Fund).
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance doesn’t necessarily indicate how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns For Calendar Years
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The Fund’s best and worst quarters during the periods in the bar chart were:

Best quarter: 11.29%,
                 during the second quarter of 2009.

Worst quarter: -12.51%,
                 during the fourth quarter of 2008.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
(for the periods ended December 31, 2017)
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the Average Annual Total Returns on an investment in the Fund compared to changes in the S&P 500 Index and Bloomberg Barclays Intermediate Government/Credit Index for the 1, 5 and 10-year periods ended 12/31/2017. SFIM computes the Blended Benchmark by using 60% S&P 500 Index and 40% Bloomberg Barclays Intermediate Government/Credit Index.
State Farm Stock and Bond Balanced Fund | State Farm Stock and Bond Balanced Fund  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.09%
Acquired Fund Fees & Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.31% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.40%
1 Year rr_ExpenseExampleYear01 $ 41
3 Years rr_ExpenseExampleYear03 128
5 Years rr_ExpenseExampleYear05 224
10 Years rr_ExpenseExampleYear10 $ 505
2008 rr_AnnualReturn2008 (23.14%)
2009 rr_AnnualReturn2009 21.06%
2010 rr_AnnualReturn2010 11.46%
2011 rr_AnnualReturn2011 3.72%
2012 rr_AnnualReturn2012 10.77%
2013 rr_AnnualReturn2013 17.97%
2014 rr_AnnualReturn2014 9.43%
2015 rr_AnnualReturn2015 1.11%
2016 rr_AnnualReturn2016 7.90%
2017 rr_AnnualReturn2017 13.96%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 11.29%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (12.51%)
1 Year rr_AverageAnnualReturnYear01 13.96%
5 Year rr_AverageAnnualReturnYear05 9.93%
10 Year rr_AverageAnnualReturnYear10 6.70%
State Farm Stock and Bond Balanced Fund | S&P 500 Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 21.83%
5 Year rr_AverageAnnualReturnYear05 15.79%
10 Year rr_AverageAnnualReturnYear10 8.50%
State Farm Stock and Bond Balanced Fund | Bloomberg Barclays Intermediate Govt/Cred Index (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.14%
5 Year rr_AverageAnnualReturnYear05 1.50%
10 Year rr_AverageAnnualReturnYear10 3.32%
State Farm Stock and Bond Balanced Fund | Blended Benchmark (Returns reflect no deduction for fees, expenses or taxes.)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 13.59%
5 Year rr_AverageAnnualReturnYear05 9.99%
10 Year rr_AverageAnnualReturnYear10 6.70%
[1] “Acquired Fund Fees & Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. These expenses are based on the total expense ratio of the underlying funds disclosed in each underlying fund’s most recent shareholder report. Please note that the amount of “Total Annual Fund Operating Expenses” shown in the above table differs from the ratio of expenses to average net assets included in the “Financial Highlights” section of this Prospectus, which reflects the operating expenses of the Fund and does not include indirect expenses such as Acquired Fund Fees & Expenses.
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Risk/Return: rr_RiskReturnAbstract  
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Prospectus Date rr_ProspectusDate May 01, 2018
Document Creation Date dei_DocumentCreationDate Apr. 27, 2018
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