<SEC-DOCUMENT>0000908695-11-000215.txt : 20111011
<SEC-HEADER>0000908695-11-000215.hdr.sgml : 20111010
<ACCEPTANCE-DATETIME>20111011101154
ACCESSION NUMBER:		0000908695-11-000215
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20111011
DATE AS OF CHANGE:		20111011
EFFECTIVENESS DATE:		20111011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USAA MUTUAL FUNDS TRUST
		CENTRAL INDEX KEY:			0000908695
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-65572
		FILM NUMBER:		111134153

	BUSINESS ADDRESS:	
		STREET 1:		9800 FREDERICKSBURG ROAD
		STREET 2:		A-3-W
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78288-0227
		BUSINESS PHONE:		210-498-8696

	MAIL ADDRESS:	
		STREET 1:		9800 FREDERICKSBURG ROAD
		STREET 2:		A-3-W
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78288-0227

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USAA STATE TAX FREE TRUST
		DATE OF NAME CHANGE:	19940325

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USAA STATE TAX EXEMPT TRUST
		DATE OF NAME CHANGE:	19930707
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000908695
<SERIES-ID>S000012915
<SERIES-NAME>S&P 500 Index Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000034884
<CLASS-CONTRACT-NAME>S&P 500 Index Fund-Member Shares
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000034885
<CLASS-CONTRACT-NAME>S&P 500 Index Fund-Reward Shares
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>sp_497-101111.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT TO USAA S&P 500 INDEX FUND
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">[USAA</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">EAGLE</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">LOGO (r)]</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">USAA S&amp;P 500 INDEX FUND</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">MEMBER SHARES AND REWARD SHARES</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SUPPLEMENT DATED OCTOBER 11, 2011</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">TO THE FUND&#8217;S PROSPECTUS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">DATED MAY 1, 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The following information replaces the current disclosure with respect to the PURCHASE AND SALE OF FUND SHARES on page 7 of the Fund&#8217;s prospectus.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Reward Shares: </font>The minimum initial purchase is $100,000 for new investors; or Fund shares held through any USAA managed account and/or other affiliated product. The minimum subsequent investment is $50.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The following information replaces the current disclosure with respect to the Minimum Initial Purchase for Reward Shares on page 18 of the Fund&#8217;s prospectus.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REWARD SHARES &#8211; MINIMUM INITIAL PURCHASE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">$100,000 minimum for new investors; or</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fund shares held through any USAA managed account and/or other affiliated product. (See <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold">How to Convert Shares</font>). Until we verify that you are indeed eligible for Reward Shares, you will hold Member Shares, which will be converted to Reward Shares upon verification.</font></div>

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</SEC-DOCUMENT>