0001193125-18-315277.txt : 20181101 0001193125-18-315277.hdr.sgml : 20181101 20181101111815 ACCESSION NUMBER: 0001193125-18-315277 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20181101 DATE AS OF CHANGE: 20181101 EFFECTIVENESS DATE: 20181101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STATE FARM MUTUAL FUND TRUST CENTRAL INDEX KEY: 0001119720 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-42004 FILM NUMBER: 181152691 BUSINESS ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 BUSINESS PHONE: 8004474930 MAIL ADDRESS: STREET 1: THREE STATE FARM PLAZA STREET 2: N-2 CITY: BLOOMINGTON STATE: IL ZIP: 61791-0001 0001119720 S000002038 State Farm Equity Fund C000005309 State Farm Equity Fund - Premier shares SLEAX C000005310 State Farm Equity Fund - Legacy Class B shares SLEBX C000005311 State Farm Equity Fund - Institutional shares SLEIX C000005312 State Farm Equity Fund - 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November 1, 2018

BY EDGAR

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, D.C. 20549

Ladies and Gentlemen:

STATE FARM MUTUAL FUND TRUST

1933 ACT REGISTRATION NO. 333-42004

1940 ACT REGISTRATION NO. 811-10027

In accordance with Instruction 3(c)(1)(g) of Form N-1A and pursuant to Rule 497(e) of Regulation C under the Securities Act of 1933, State Farm Mutual Fund Trust is filing herewith in Interactive Data format information required by Form N-1A, Items 2-4, with respect to its fifteen separate investment portfolios.

Please contact the undersigned if you should have any questions concerning this filing.

 

Sincerely,
/s/ David Moore                
David Moore
Assistant Secretary
(309) 766-1908
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Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 24-25 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> <p style="page-break-before:always"> </p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 22-23 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> <p style="page-break-before:always"> </p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 23-24 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> N-1A <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;A, Class&nbsp;B, Premier and Legacy Class&nbsp;B Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 24-25 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 22-23 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:0px; ">On September&nbsp;14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (&#8220;Mutual Fund Trust&#8221;), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the &#8220;BlackRock Advantage International Acquiring Fund&#8221;), a series of BlackRock Funds<sup>SM</sup>,<sup> </sup>a Massachusetts business trust. </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC (&#8220;BAL&#8221;) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October&nbsp;24, 2018, through November&nbsp;16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund. </div> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018 to the Prospectus dated May&nbsp;1, 2018 for Institutional Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November&nbsp;14, 2018, will not be treated as a request for the purchase of Fund Shares. </div> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">On September&nbsp;14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i)&nbsp;the elimination of the Equity and Bond Fund&#8217;s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the &#8220;Investment Restriction&#8221;) and (ii)&nbsp;a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the &#8220;BlackRock 60/40 Target Allocation Acquiring Fund&#8221;). The reorganization is expected to occur on November&nbsp;16, 2018. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October&nbsp;25, 2018, through November&nbsp;16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (&#8220;ETFs&#8221;). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs. </p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%">The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 23-24 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund&#8217;s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">&#8226;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"> <div align="left"><b>Investments in Mutual Funds and ETFs Risk</b>&#8212;The Equity and Bond Fund&#8217;s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund&#8217;s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund&#8217;s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs. </div></td></tr></table> <div style="margin-top:0px;margin-bottom:0px" align="center"><b>STATE FARM MUTUAL FUND TRUST </b></div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%">Supplement dated October&nbsp;25, 2018, to the Prospectus dated May&nbsp;1, 2018, for Class&nbsp;R-1, Class&nbsp;R-2 and Class&nbsp;R-3 Shares, and as supplemented as of May&nbsp;23, 2018 and September&nbsp;18, 2018 of State Farm Mutual Fund Trust (the&nbsp;&#8220;Prospectus&#8221;). </p> <div style="margin-top:6px;margin-bottom:0px; text-indent:4%">Effective November&nbsp;14, 2018, the separate series within State Farm Mutual Fund Trust (each, a &#8220;Fund&#8221; and together, the &#8220;Funds&#8221;) no longer will issue shares of beneficial interest (&#8220;Shares&#8221;) as part of purchase or exchange transactions. Any payment received on or after November&nbsp;14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November&nbsp;14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. 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STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 24-25 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.

STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 22-23 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.

STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 23-24 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.
XML 9 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM MUTUAL FUND TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 24-25 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.

STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 22-23 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.

STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 23-24 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.
Retail Class | State Farm Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm Small Mid Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.
Retail Class | State Farm S & P 500 Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm Small Cap Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm International Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm Equity and Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 24-25 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.
Retail Class | State Farm Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm Tax Advantaged Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm Money Market Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm LifePath Retirement Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm LifePath 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm LifePath 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm LifePath 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retail Class | State Farm LifePath 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class A, Class B, Premier and Legacy Class B Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm Small Mid Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.
Retirement Class | State Farm S & P 500 Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm Small Cap Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm International Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm Equity and Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 22-23 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.
Retirement Class | State Farm Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm Money Market Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm LifePath Retirement Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm LifePath 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm LifePath 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm LifePath 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Retirement Class | State Farm LifePath 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018, to the Prospectus dated May 1, 2018, for Class R-1, Class R-2 and Class R-3 Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm Small Mid Cap Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm International Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the International Equity Fund of State Farm Mutual Fund Trust (“Mutual Fund Trust”), approved a reorganization of the International Equity Fund into the BlackRock Advantage International Fund (the “BlackRock Advantage International Acquiring Fund”), a series of BlackRock FundsSM, a Massachusetts business trust.

BlackRock Advisors, LLC (“BAL”) is the investment adviser to the BlackRock Advantage International Acquiring Fund. To prepare for the reorganization of the International Equity Fund, BAL has requested that the International Equity Fund sell substantially all of its existing holdings, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock Advantage International Acquiring Fund. During the period October 24, 2018, through November 16, 2018, the International Equity Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock Advantage International Acquiring Fund, as set out in the current prospectus of the BlackRock Advantage International Acquiring Fund.
Institutional Class | State Farm S & P 500 Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm Small Cap Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm International Index Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm Equity and Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.

On September 14, 2018, shareholders of the Mutual Fund Trust Equity and Bond Fund approved (i) the elimination of the Equity and Bond Fund’s fundamental investment restriction on investments, which provides that the Equity and Bond Fund will not invest in securities other than securities of other registered investment companies or registered unit investment trusts that are part of the State Farm group of investment companies (as defined in the Investment Company Act of 1940), U.S. Government securities, or short-term paper (the “Investment Restriction”) and (ii) a reorganization of the Equity and Bond Fund into the BlackRock 60/40 Target Allocation Fund, a series of BlackRock Funds II (the “BlackRock 60/40 Target Allocation Acquiring Fund”). The reorganization is expected to occur on November 16, 2018.

BlackRock Advisors, LLC serves as the investment adviser to the BlackRock 60/40 Target Allocation Acquiring Fund. To prepare for the reorganization of the Equity and Bond Fund, BlackRock Advisors, LLC has requested that the Equity and Bond Fund sell all of its existing holdings of the Equity Fund and the Bond Fund, each a series of Mutual Fund Trust, and invest the sales proceeds using investment strategies substantially similar to those used by the BlackRock 60/40 Target Allocation Acquiring Fund. During the period October 25, 2018, through November 16, 2018, the Equity and Bond Fund may deviate from its principal investment strategies and may follow the investment strategies of the BlackRock 60/40 Target Allocation Acquiring Fund, as set out in the current prospectus of the BlackRock 60/40 Target Allocation Acquiring Fund. The BlackRock 60/40 Target Allocation Acquiring Fund is a fund of funds that normally intends to obtain exposure to equity securities (and certain other instruments) in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets. The BlackRock 60/40 Target Allocation Acquiring Fund intends to obtain this exposure primarily through investments in underlying funds, including exchange-traded funds (“ETFs”). Under normal circumstances, the BlackRock 60/40 Target Allocation Acquiring Fund intends to invest primarily in affiliated open-end funds and affiliated ETFs.

The section of the Prospectus that describes the principal risks of investing in the Equity and Bond Fund on pages 23-24 of the Prospectus is hereby amended to add the following risk factor in connection with the Equity and Bond Fund’s intention to invest in a portfolio of underlying open-end funds and ETFs to obtain exposure to equity securities in an amount equal to 60% of its assets and exposure to fixed-income securities in an amount equal to 40% of its assets.

 

 
Investments in Mutual Funds and ETFs Risk—The Equity and Bond Fund’s investments are concentrated in the underlying BlackRock funds, so the Equity and Bond Fund’s investment performance is directly related to the performance of the underlying funds. The Equity and Bond Fund may also directly invest in ETFs. The Equity and Bond Fund’s net asset value will change with changes in the equity and bond markets and the value of the mutual funds, ETFs and other securities in which it invests. An investment in the Equity and Bond Fund will entail more direct and indirect costs and expenses than a direct investment in the underlying funds and ETFs. For example, the Equity and Bond Fund indirectly pays a portion of the expenses (including operating expenses and management fees) incurred by the underlying funds and ETFs.
Institutional Class | State Farm Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm Money Market Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm LifePath Retirement Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm LifePath 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm LifePath 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
Institutional Class | State Farm LifePath 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock
STATE FARM MUTUAL FUND TRUST

Supplement dated October 25, 2018 to the Prospectus dated May 1, 2018 for Institutional Shares, and as supplemented as of May 23, 2018 and September 18, 2018 of State Farm Mutual Fund Trust (the “Prospectus”).

Effective November 14, 2018, the separate series within State Farm Mutual Fund Trust (each, a “Fund” and together, the “Funds”) no longer will issue shares of beneficial interest (“Shares”) as part of purchase or exchange transactions. Any payment received on or after November 14, 2018, for the purchase of Fund Shares will be returned to the investor. A request for an exchange transaction received on or after November 14, 2018, will be treated as a request for a redemption of Fund Shares and will be processed as such. A request for an exchange transaction received on or after November 14, 2018, will not be treated as a request for the purchase of Fund Shares.
XML 10 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName STATE FARM MUTUAL FUND TRUST
Prospectus Date rr_ProspectusDate May 01, 2018
Document Creation Date dei_DocumentCreationDate Oct. 25, 2018
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