Port Mana 3 1 1

Date Offer Bid Dividends NAV
30-Sep-2003 1.003200 1.003200 1.003200

31-Oct-2003 1.002100 1.002100 1.002100
28-Nov-2003 1.014200 1.014200 1.014200
31-Dec-2003 1.027000 1.027000 1.027000
30-Jan-2004 1.029000 1.029000 1.029000
27-Feb-2004 1.038500 1.038500 1.038500
31-Mar-2004 1.044900 1.044900 1.044900
30-Apr-2004 1.035400 1.035400 1.035400
31-May-2004 1.038300 1.038300 1.038300
30-Jun-2004 1.048500 1.048500 1.048500
30-Jul-2004 1.035900 1.035900 1.035900
31-Aug-2004 1.043800 1.043800 1.043800
30-Sep-2004 1.046600 1.046600 1.046600
29-Oct-2004 1.043800 1.043800 1.043800
30-Nov-2004 1.045200 1.045200 1.045200
31-Dec-2004 1.049000 1.049000 1.049000
31-Jan-2005 1.046900 1.046900 1.046900
28-Feb-2005 1.051700 1.051700 1.051700
31-Mar-2005 1.053000 1.053000 1.053000
29-Apr-2005 1.043900 1.043900 1.043900
31-May-2005 1.046300 1.046300 1.046300
30-Jun-2005 1.054200 1.054200 1.054200
29-Jul-2005 1.038700 1.038700 1.038700
31-Aug-2005 1.045100 1.045100 1.045100
30-Sep-2005 1.045900 1.045900 1.045900
31-Oct-2005 1.041800 1.041800 1.041800
30-Nov-2005 1.045500 1.045500 1.045500
30-Dec-2005 1.050300 1.050300 1.050300
31-Jan-2006 1.045000 1.045000 1.045000
28-Feb-2006 1.049200 1.049200 1.049200
31-Mar-2006 1.053800 1.053800 1.053800
28-Apr-2006 1.058300 1.058300 1.058300
31-May-2006 1.062600 1.062600 1.062600
30-Jun-2006 1.066400 1.066400 1.066400
31-Jul-2006 1.044500 1.044500 1.044500
31-Aug-2006 1.050700 1.050700 1.050700
29-Sep-2006 1.056000 1.056000 1.056000
31-Oct-2006 1.049900 1.049900 1.049900
30-Nov-2006 1.054700 1.054700 1.054700
29-Dec-2006 1.063100 1.063100 1.063100
31-Jan-2007 1.054800 1.054800 1.054800
28-Feb-2007 1.060400 1.060400 1.060400
30-Mar-2007 1.063100 1.063100 1.063100
30-Apr-2007 1.054800 1.054800 1.054800
31-May-2007 1.059900 1.059900 1.059900
29-Jun-2007 1.062000 1.062000 1.062000
31-Jul-2007 1.040300 1.040300 1.040300
31-Aug-2007 1.031200 1.031200 1.031200
28-Sep-2007 1.031700 1.031700 1.031700
31-Oct-2007 1.026900 1.026900 1.026900
30-Nov-2007 1.020300 1.020300 1.020300
31-Dec-2007 1.019900 1.019900 1.019900
31-Jan-2008 0.991200 0.991200 0.991200
29-Feb-2008 0.981900 0.981900 0.981900
31-Mar-2008 0.965100 0.965100 0.965100
30-Apr-2008 0.979600 0.979600 0.979600
30-May-2008 0.989800 0.989800 0.989800
30-Jun-2008 0.971800 0.971800 0.971800
31-Jul-2008 0.955000 0.955000 0.955000
29-Aug-2008 0.961500 0.961500 0.961500
30-Sep-2008 0.950700 0.950700 0.950700
31-Oct-2008 0.906400 0.906400 0.906400
28-Nov-2008 0.861200 0.861200 0.861200
31-Dec-2008 0.837500 0.837500 0.837500
30-Jan-2009 0.835200 0.835200 0.835200
27-Feb-2009 0.800700 0.800700 0.800700
31-Mar-2009 0.797000 0.797000 0.797000
30-Apr-2009 0.797400 0.797400 0.797400
29-May-2009 0.804800 0.804800 0.804800
30-Jun-2009 0.820700 0.820700 0.820700
31-Jul-2009 0.836900 0.836900 0.836900
31-Aug-2009 0.849300 0.849300 0.849300
30-Sep-2009 0.859700 0.859700 0.859700
30-Oct-2009 0.876500 0.876500 0.876500
30-Nov-2009 0.886300 0.886300 0.886300
31-Dec-2009 0.894600 0.894600 0.894600
29-Jan-2010 0.902500 0.902500 0.902500
26-Feb-2010 0.907600 0.907600 0.907600
31-Mar-2010 0.909630 0.909630 0.909630
30-Apr-2010 0.908490 0.908490 0.908490
31-May-2010 0.910700 0.910700 0.910700
30-Jun-2010 0.912000 0.912000 0.912000
30-Jul-2010 0.896100 0.896100 0.896100
31-Aug-2010 0.902200 0.902200 0.902200
30-Sep-2010 0.912700 0.912700 0.912700
29-Oct-2010 0.916900 0.916900 0.916900
30-Nov-2010 0.924600 0.924600 0.924600
31-Dec-2010 0.932200 0.932200 0.932200
31-Jan-2011 0.931600 0.931600 0.931600
28-Feb-2011 0.940500 0.940500 0.940500
31-Mar-2011 0.947600 0.947600 0.947600
29-Apr-2011 0.945000 0.945000 0.945000
31-May-2011 0.949000 0.949000 0.949000
30-Jun-2011 0.952600 0.952600 0.952600
29-Jul-2011 0.919000 0.919000 0.919000
31-Aug-2011 0.914800 0.914800 0.914800
30-Sep-2011 0.911900 0.911900 0.911900
31-Oct-2011 0.910800 0.910800 0.910800
30-Nov-2011 0.913700 0.913700 0.913700
30-Dec-2011 0.916700 0.916700 0.916700
31-Jan-2012 0.914400 0.914400 0.914400
29-Feb-2012 0.915400 0.915400 0.915400
30-Mar-2012 0.917600 0.917600 0.917600
30-Apr-2012 0.923500 0.923500 0.923500
31-May-2012 0.925100 0.925100 0.925100
29-Jun-2012 0.927500 0.927500 0.927500
31-Jul-2012 0.930500 0.930500 0.930500
31-Aug-2012 0.932900 0.932900 0.932900
28-Sep-2012 0.936800 0.936800 0.936800
31-Oct-2012 0.940300 0.940300 0.940300
30-Nov-2012 0.943100 0.943100 0.943100
31-Dec-2012 0.945800 0.945800 0.945800
31-Jan-2013 0.945200 0.945200 0.945200
28-Feb-2013 0.949200 0.949200 0.949200
29-Mar-2013 0.952100 0.952100 0.952100
30-Apr-2013 0.952200 0.952200 0.952200
31-May-2013 0.952600 0.952600 0.952600
28-Jun-2013 0.946600 0.946600 0.946600
31-Jul-2013 0.945400 0.945400 0.945400
30-Aug-2013 0.945000 0.945000 0.945000
30-Sep-2013 0.948400 0.948400 0.948400
31-Oct-2013 0.951600 0.951600 0.951600
29-Nov-2013 0.953700 0.953700 0.953700
31-Dec-2013 0.955900 0.955900 0.955900
31-Jan-2014 0.955900 0.955900 0.955900
28-Feb-2014 0.959400 0.959400 0.959400
31-Mar-2014 0.961500 0.960800 0.961150
30-Apr-2014 0.962700 0.962000 0.962350
30-May-2014 0.963500 0.962800 0.963150
30-Jun-2014 0.966100 0.965400 0.965750
31-Jul-2014 0.966300 0.965600 0.965950
29-Aug-2014 0.966000 0.965300 0.965650
30-Sep-2014 0.963900 0.963200 0.963550
31-Oct-2014 0.963500 0.962800 0.963150
28-Nov-2014 0.964600 0.963900 0.964250
31-Dec-2014 0.962200 0.961500 0.961850
30-Jan-2015 0.962300 0.961600 0.961950
27-Feb-2015 0.968200 0.967500 0.967850
31-Mar-2015 0.968400 0.967700 0.968050
30-Apr-2015 0.970100 0.969400 0.969750
29-May-2015 0.969900 0.969200 0.969550
30-Jun-2015 0.967900 0.967200 0.967550
31-Jul-2015 0.969900 0.969200 0.969550
31-Aug-2015 0.968500 0.967800 0.968150
30-Sep-2015 0.964100 0.963400 0.963750
30-Oct-2015 0.969400 0.968700 0.969050
30-Nov-2015 0.970700 0.970000 0.970350
31-Dec-2015 0.971000 0.970300 0.970650
29-Jan-2016 0.964900 0.964100 0.964500
29-Feb-2016 0.960000 0.959200 0.959600
31-Mar-2016 0.965900 0.965100 0.965500
29-Apr-2016 0.969500 0.968700 0.969100
31-May-2016 0.972100 0.971300 0.971700
30-Jun-2016 0.967700 0.966900 0.967300
29-Jul-2016 0.971800 0.971000 0.971400
31-Aug-2016 0.975600 0.974800 0.975200
30-Sep-2016 0.974210 0.974100 0.974155
31-Oct-2016 0.977308 0.977200 0.977254
30-Nov-2016 0.976808 0.976700 0.976754
30-Dec-2016 0.980500 0.979700 0.980100
31-Jan-2017 0.981600 0.981500 0.981550
28-Feb-2017 0.982304 0.982200 0.982252
31-Mar-2017 0.984403 0.984300 0.984352
28-Apr-2017 0.985402 0.985300 0.985351
31-May-2017 0.987001 0.986900 0.00070 0.986951
30-Jun-2017 0.942866 0.942733 0.04673 0.942800
31-Jul-2017 0.944231 0.944100 0.00067 0.944166
31-Aug-2017 0.942632 0.942500 0.00067 0.942566
29-Sep-2017 0.945830 0.945700 0.00067 0.945765
31-Oct-2017 0.947029 0.946900 0.00067 0.946965
30-Nov-2017 0.947129 0.947000 0.00067 0.947065
29-Dec-2017 0.947700 0.946900 0.00067 0.947300
31-Jan-2018 0.949400 0.948600 0.00067 0.949000
28-Feb-2018 0.947500 0.946700 0.00067 0.947100
30-Mar-2018 0.945000 0.941617 0.00325 0.943309
30-Apr-2018 0.943700 0.942900 0.00067 0.943300
31-May-2018 0.940500 0.939700 0.00067 0.940100
29-Jun-2018 0.940000 0.939200 0.00358 0.939600
31-Jul-2018 0.939700 0.938900 0.00067 0.939300
31-Aug-2018 0.939000 0.938200 0.00066 0.938600
28-Sep-2018 0.941700 0.940900 0.00067 0.941300
31-Oct-2018 0.939100 0.938300 0.00066 0.938700
30-Nov-2018 0.935200 0.934400 0.00066 0.934800
31-Dec-2018 0.930300 0.929400 0.00066 0.929850
31-Jan-2019 0.934500 0.933600 0.00066 0.934050
28-Feb-2019 0.938200 0.937300 0.00066 0.937750
29-Mar-2019 0.937200 0.936300 0.00066 0.936750
30-Apr-2019 0.940200 0.939300 0.00067 0.939750
31-May-2019 0.937100 0.936200 0.00066 0.936650
28-Jun-2019 0.939700 0.938800 0.00066 0.939250
31-Jul-2019 0.941200 0.940300 0.00067 0.940750
30-Aug-2019 0.939400 0.938500 0.00066 0.938950
30-Sep-2019 0.940100 0.939200 0.00067 0.939650
31-Oct-2019 0.940900 0.940000 0.00067 0.940450
29-Nov-2019 0.941700 0.940800 0.00067 0.941250
31-Dec-2019 0.942300 0.941400 0.00067 0.941850
31-Jan-2020 0.942600 0.941700 0.00067 0.942150
28-Feb-2020 0.939300 0.938400 0.00066 0.938850
31-Mar-2020 0.908000 0.907100 0.00064 0.907550
30-Apr-2020 0.918100 0.913100 0.00065 0.915600
Average
Standard Deviation
GM Average
Monthly Return 1 Year return 3-year return Annualized 3-year return
-0.001096
0.012075
0.012621
0.001947
0.009232
0.006163
-0.009092
0.002801
0.009824
-0.012017
0.007626
0.002683 4.32616%
-0.002675 4.16126%
0.001341 3.05660%
0.003636 2.14216%
-0.002002 1.73955%
0.004585 1.27106%
0.001236 0.77519%
-0.008642 0.82094%
0.002299 0.77049%
0.007550 0.54363%
-0.014703 0.27030%
0.006162 0.12454%
0.000765 -0.06688%
-0.003920 -0.19161%
0.003552 0.02870%
0.004591 0.12393%
-0.005046 -0.18149%
0.004019 -0.23771%
0.004384 0.07597%
0.004270 1.37944%
0.004063 1.55787%
0.003576 1.15728%
-0.020536 0.55839%
0.005936 0.53583%
0.005044 0.96568% 5.26316% 1.72448%
-0.005777 0.77750% 4.76998% 1.56536%
0.004572 0.87996% 3.99330% 1.31376%
0.007964 1.21870% 3.51509% 1.15823%
-0.007807 0.93780% 2.50729% 0.82887%
0.005309 1.06748% 2.10881% 0.69805%
0.002546 0.88252% 1.74179% 0.57726%
-0.007807 -0.33072% 1.87367% 0.62070%
0.004835 -0.25409% 2.08032% 0.68869%
0.001981 -0.41260% 1.28755% 0.42736%
-0.020433 -0.40211% 0.42475% 0.14138%
-0.008747 -1.85591% -1.20713% -0.40401%
0.000485 -2.30114% -1.42366% -0.47682%
-0.004653 -2.19068% -1.61908% -0.54263%
-0.006427 -3.26159% -2.38232% -0.80050%
-0.000392 -4.06359% -2.77407% -0.93337%
-0.028140 -6.02958% -5.32047% -1.80591%
-0.009383 -7.40287% -6.63687% -2.26312%
-0.017110 -9.21832% -8.34758% -2.86375%
0.015024 -7.12931% -6.15959% -2.09686%
0.010412 -6.61383% -5.39998% -1.83340%
-0.018185 -8.49341% -7.81635% -2.67645%
-0.017288 -8.19956% -8.05815% -2.76161%
0.006806 -6.75912% -7.99923% -2.74085%
-0.011232 -7.85112% -9.10221% -3.13108%
-0.046597 -11.73435% -12.99674% -4.53478%
-0.049868 -15.59345% -17.62793% -6.25963%
-0.027520 -17.88411% -20.26088% -7.26924%
-0.002746 -15.73850% -20.07656% -7.19784%
-0.041307 -18.45402% -23.68471% -8.61593%
-0.004621 -17.41788% -24.36895% -8.88986%
0.000502 -18.59943% -24.65274% -9.00396%
0.009280 -18.69064% -24.26125% -8.84663%
0.019756 -15.54847% -23.04014% -8.35936%
0.019739 -12.36649% -19.87554% -7.12011%
0.014817 -11.66927% -19.16817% -6.84758%
0.012245 -9.57189% -18.58902% -6.62563%
0.019542 -3.29876% -16.51586% -5.83967%
0.011181 2.91454% -15.96663% -5.63363%
0.009365 6.81791% -15.84987% -5.58994%
0.008831 8.05795% -14.43876% -5.06514%
0.005651 13.35082% -14.40966% -5.05438%
0.002237 14.13174% -14.43608% -5.06416%
-0.001253 13.93153% -13.87088% -4.85558%
0.002433 13.15855% -14.07680% -4.93146%
0.001427 11.12465% -14.12429% -4.94898%
-0.017434 7.07372% -13.86139% -4.85208%
0.006807 6.22866% -12.50970% -4.35697%
0.011638 6.16494% -11.53436% -4.00288%
0.004602 4.60924% -10.71185% -3.70629%
0.008398 4.32134% -9.37959% -3.22972%
0.008220 4.20300% -8.59888% -2.95262%
-0.000644 3.22438% -6.01291% -2.04588%
0.009553 3.62494% -4.21632% -1.42567%
0.007549 4.17422% -1.81328% -0.60812%
-0.002744 4.01876% -3.53205% -1.19149%
0.004233 4.20556% -4.12204% -1.39334%
0.003793 4.45175% -1.97572% -0.66296%
-0.035272 2.55552% -3.76963% -1.27267%
-0.004570 1.39659% -4.85699% -1.64594%
-0.003170 -0.08765% -4.08120% -1.37934%
-0.001206 -0.66529% 0.48544% 0.16155%
0.003184 -1.17889% 6.09614% 1.99210%
0.003283 -1.66273% 9.45672% 3.05779%
-0.002509 -1.84629% 9.48276% 3.06596%
0.001094 -2.66879% 14.32497% 4.56356%
0.002403 -3.16589% 15.13174% 4.80895%
0.006430 -2.27513% 15.81390% 5.01554%
0.001733 -2.51844% 14.94781% 4.75310%
0.002594 -2.63489% 13.01328% 4.16212%
0.003235 1.25136% 11.18413% 3.59710%
0.002579 1.97857% 9.84340% 3.17900%
0.004181 2.73056% 8.96824% 2.90425%
0.003736 3.23891% 7.27895% 2.36972%
0.002978 3.21769% 6.40867% 2.09215%
0.002863 3.17443% 5.72323% 1.87246%
-0.000634 3.36833% 4.73130% 1.55286%
0.004232 3.69237% 4.58352% 1.50507%
0.003055 3.75981% 4.66893% 1.53270%
0.000105 3.10774% 4.81128% 1.57871%
0.000420 2.97265% 4.60086% 1.51068%
-0.006299 2.05930% 3.79386% 1.24896%
-0.001268 1.60129% 5.50162% 1.80123%
-0.000423 1.29703% 4.74396% 1.55695%
0.003598 1.23826% 3.91147% 1.28718%
0.003374 1.20174% 3.78449% 1.24591%
0.002207 1.12395% 3.14731% 1.03828%
0.002307 1.06788% 2.54237% 0.84038%
0.000000 1.13204% 2.60842% 0.86202%
0.003661 1.07459% 2.00957% 0.66542%
0.001824 0.95053% 1.42993% 0.47439%
0.001249 1.06595% 1.83598% 0.60829%
0.000831 1.10750% 1.49104% 0.49456%
0.002699 2.02303% 1.38043% 0.45804%
0.000207 2.17368% 5.10881% 1.67473%
-0.000311 2.18519% 5.55859% 1.81956%
-0.002175 1.59743% 5.66400% 1.85343%
-0.000415 1.21375% 5.74769% 1.88032%
0.001142 1.10622% 5.53245% 1.81115%
-0.002489 0.62245% 4.92528% 1.61552%
0.000104 0.63291% 5.20013% 1.70417%
0.006133 0.88076% 5.72974% 1.87455%
0.000207 0.71789% 5.49804% 1.80008%
0.001756 0.76895% 5.00812% 1.64226%
-0.000206 0.66449% 4.80489% 1.57664%
-0.002063 0.18638% 4.31806% 1.41912%
0.002067 0.37269% 4.19667% 1.37976%
-0.001444 0.25889% 3.77854% 1.24397%
-0.004545 0.02076% 2.87681% 0.94989%
0.005499 0.61257% 3.05753% 1.00896%
0.001342 0.63262% 2.88941% 0.95401%
0.000309 0.91490% 2.62741% 0.86824%
-0.006336 0.26509% 2.04190% 0.67605%
-0.005080 -0.85240% 1.09566% 0.36389%
0.006148 -0.26342% 1.40742% 0.46695%
0.003729 -0.06703% 1.77484% 0.58815%
0.002683 0.22175% 2.00504% 0.66393%
-0.004528 -0.02584% 2.18677% 0.72367%
0.004239 0.19081% 2.75016% 0.90844%
0.003912 0.72819% 3.19577% 1.05411%
-0.001072 1.07964% 2.71563% 0.89714%
0.003181 0.84660% 2.69588% 0.89067%
-0.000512 0.65997% 2.41732% 0.79937%
0.003426 0.97357% 2.53165% 0.83686%
0.001479 1.76776% 2.68334% 0.88656%
0.000715 2.36057% 2.38191% 0.78775%
0.002137 1.95251% 2.41393% 0.79825%
0.001015 1.67692% 2.39009% 0.79043%
0.001623 1.64150% 2.54379% 0.84084%
-0.044735 2.37046% 2.53477% 0.83788%
0.001449 2.14798% 2.72431% 0.89998%
-0.001694 1.65463% 2.65997% 0.87891%
0.003394 2.16085% 3.28525% 1.08330%
0.001268 2.02818% 3.52224% 1.16056%
0.000106 2.15924% 3.48400% 1.14810%
0.000249 1.90287% 3.83636% 1.26277%
0.001795 1.99379% 4.07194% 1.33930%
-0.002002 1.79567% 3.31043% 1.09152%
-0.004003 1.52354% 3.23315% 1.06631%
-0.000009 1.48769% 3.12039% 1.02950%
-0.003392 1.06687% 2.88072% 0.95116%
-0.000532 6.05224% 3.41171% 1.12454%
-0.000319 0.98865% 3.23655% 1.06742%
-0.000745 1.08470% 3.38171% 1.11476%
0.002877 1.02827% 4.20337% 1.38194%
-0.002762 0.62468% 3.43326% 1.13157%
-0.004155 0.20120% 2.96079% 0.97735%
-0.005295 -0.34730% 2.48699% 0.82222%
0.004517 -0.08430% 3.64438% 1.20033%
0.003961 0.50575% 4.62797% 1.51945%
-0.001066 0.80265% 3.95339% 1.30080%
0.003203 0.84809% 3.94593% 1.29838%
-0.003299 0.86055% 3.41669% 1.12617%
0.002776 1.18987% 4.22413% 1.38867%
0.001597 1.07207% 4.00762% 1.31841%
-0.001913 0.95461% 3.48544% 1.14857%
0.000746 0.74047% 3.73708% 1.23049%
0.000851 1.10472% 3.55854% 1.17238%
0.000851 1.61318% 3.76205% 1.23861%
0.000637 2.21971% 3.53739% 1.16549%
0.000319 1.79327% 3.48327% 1.14786%
-0.003503 1.03972% 3.14054% 1.03607%
-0.033339 -2.19589% -0.19419% -0.06477%
0.008870 -1.65257% 0.58751% 0.19545%
-0.04% 0.04% -0.50% -0.25%

1.01% 5.25% 8.44% 2.93%
#VALUE!
Rf
CAPM
5-year return Annualized 5-year return
-5.23325% -1.06927%
-9.54995% -1.98743%
-15.08578% -3.21767%
-18.45180% -3.99743%
-18.83382% -4.08754%
-22.89841% -5.06799%
-23.72476% -5.27236%
-22.98629% -5.08964%
-22.48868% -4.96731%
-21.72628% -4.78109%
-19.21035% -4.17669%
-18.63384% -4.04033%
-17.85783% -3.85798%
-16.02797% -3.43340%
-15.20283% -3.24436%
-14.71878% -3.13415%
-13.79310% -2.92478%
-13.70163% -2.90418%
-13.61538% -2.88478%
-12.97155% -2.74045%
-12.95995% -2.73786%
-13.48890% -2.85636%
-13.72870% -2.91028%
-13.67333% -2.89782%
-12.73544% -2.68774%
-11.98887% -2.52179%
-11.56385% -2.42783%
-11.24441% -2.35744%
-10.85167% -2.27118%
-10.36027% -2.16368%
-10.07781% -2.10210%
-10.70585% -2.23923%
-10.69076% -2.23593%
-10.67142% -2.23169%
-12.01532% -2.52766%
-12.93423% -2.73211%
-13.64583% -2.89163%
-13.24888% -2.80252%
-13.36873% -2.82939%
-13.77105% -2.91981%
-13.31058% -2.81635%
-13.67409% -2.89799%
-13.68639% -2.90075%
-12.44786% -2.62368%
-12.71818% -2.68389%
-12.66478% -2.67198%
-10.55465% -2.20615%
-9.53258% -1.98367%
-9.19841% -1.91137%
-8.43315% -1.74658%
-7.56640% -1.56128%
-7.26542% -1.49725%
-4.64084% -0.94589%
-3.33028% -0.67511%
-1.34701% -0.27087%
-2.79706% -0.56578%
-3.75834% -0.76323%
-2.59313% -0.52409%
-1.00524% -0.20186%
-1.71607% -0.34559%
-0.24193% -0.04843%
4.98676% 0.97803%
10.74083% 2.06141%
14.13731% 2.67992%
14.45163% 2.73641%
19.82016% 3.68262%
20.59598% 3.81654%
20.68598% 3.83203%
19.67570% 3.65761%
17.67394% 3.30850%
15.42000% 2.90968%
13.69952% 2.60103%
12.07980% 2.30703%
9.88591% 1.90334%
8.79499% 1.70019%
7.51733% 1.46019%
6.58726% 1.28405%
6.63839% 1.29376%
6.42239% 1.25270%
6.74306% 1.31364%
6.46206% 1.26025%
6.09101% 1.18956%
8.19663% 1.58808%
7.30991% 1.42102%
5.59329% 1.09444%
5.68764% 1.11250%
4.94809% 0.97059%
4.12465% 0.81165%
3.53156% 0.69654%
2.03083% 0.40291%
1.88898% 0.37497%
2.55026% 0.50493%
2.39199% 0.47389%
1.54315% 0.30674%
5.70185% 1.11522%
6.60254% 1.28695%
6.82695% 1.32956%
7.29622% 1.41843%
6.90095% 1.34360%
6.91611% 1.34647%
7.34361% 1.42739%
7.30304% 1.41972%
7.27457% 1.41434%
6.69746% 1.30498%
6.76149% 1.31714%
6.76329% 1.31748%
6.63788% 1.29367%
6.26391% 1.22252%
6.23452% 1.21692%
6.03791% 1.17943%
5.80474% 1.13489%
5.59844% 1.09542%
5.91621% 1.15619%
5.34029% 1.04595%
4.96256% 0.97338%
5.02100% 0.98462%
4.71132% 0.92499%
5.70040% 1.11494%
5.87370% 1.14807%
5.91429% 1.15583%
5.88992% 1.15117%
5.32997% 1.04397%
4.75831% 0.93405%
4.06842% 0.80076%
4.57684% 0.89906%
4.64978% 0.91313%
4.42387% 0.86952%
4.67501% 0.91799%
4.33473% 0.85229%
4.39141% 0.86325%
4.59444% 0.90245%
4.50888% 0.88594%
4.87883% 0.95726%
5.07501% 0.99500%
5.10760% 1.00127%
5.50190% 1.07693%
5.59177% 1.09415%
4.67531% 0.91805%
1.48649% 0.29555%
2.20572% 0.43730%
-1.29% -0.35% SUMMARY OUTPUT

10.63% 2.19%
0.89%
-2.52%
Benchmark 3-year return Annualized Fund 3-year return
4,753.80
4,773.20
4,790.10
4,813.00
4,834.30
4,854.90
4,879.50
4,901.40
4,924.60
4,946.80
4,969.00
4,992.70
5,014.90
5,036.30
5,060.30
5,083.40
5,106.50
5,126.90
5,151.00
5,175.70
5,201.60
5,225.70
5,249.20
5,275.90
5,300.00
5,325.30
5,350.00
5,374.40
5,401.00
5,424.20
5,450.00
5,472.40
5,500.50
5,527.00
5,553.60
5,582.60
5,610.20 18.02% 5.68% 1.72%
5,639.60 18.15% 5.72% 1.57%
5,668.70 18.34% 5.77% 1.31%
5,695.90 18.34% 5.77% 1.16%
5,730.20 18.53% 5.83% 0.83%
5,758.40 18.61% 5.85% 0.70%
5,786.50 18.59% 5.85% 0.58%
5,817.20 18.68% 5.88% 0.62%
5,851.60 18.82% 5.92% 0.69%
5,879.90 18.86% 5.93% 0.43%
5,911.90 18.98% 5.96% 0.14%
5,943.30 19.04% 5.98% -0.40%
5,974.70 19.14% 6.01% -0.48%
6,012.50 19.38% 6.08% -0.54%
6,044.90 19.46% 6.11% -0.80%
6,082.50 19.65% 6.16% -0.93%
6,118.00 19.81% 6.21% -1.81%
6,151.00 19.98% 6.26% -2.26%
6,192.90 20.23% 6.33% -2.86%
6,232.10 20.41% 6.39% -2.10%
6,271.70 20.57% 6.43% -1.83%
6,309.90 20.75% 6.49% -2.68%
6,354.40 21.05% 6.58% -2.76%
6,395.00 21.21% 6.62% -2.74%
6,434.50 21.41% 6.68% -3.13%
6,481.80 21.72% 6.77% -4.53%
6,515.40 21.78% 6.79% -6.26%
6,544.80 21.78% 6.79% -7.27%
6,569.90 21.64% 6.75% -7.20%
6,589.60 21.49% 6.70% -8.62%
6,607.50 21.24% 6.63% -8.89%
6,625.00 21.06% 6.58% -9.00%
6,640.20 20.72% 6.48% -8.85%
6,659.40 20.49% 6.41% -8.36%
6,677.10 20.23% 6.33% -7.12%
6,694.00 19.91% 6.24% -6.85%
6,712.90 19.66% 6.16% -6.63%
6,729.40 19.32% 6.07% -5.84%
6,750.50 19.08% 5.99% -5.63%
6,772.30 18.90% 5.94% -5.59%
6,794.20 18.57% 5.84% -5.07%
6,817.70 18.40% 5.79% -5.05%
6,841.50 18.23% 5.74% -5.06%
6,865.20 18.02% 5.68% -4.86%
6,891.00 17.76% 5.60% -4.93%
6,918.20 17.66% 5.57% -4.95%
6,947.44 17.52% 5.53% -4.85%
6,975.65 17.37% 5.48% -4.36%
7,001.56 17.19% 5.43% -4.00%
7,029.16 16.91% 5.35% -3.71%
7,058.30 16.76% 5.30% -3.23%
7,088.24 16.53% 5.23% -2.95%
7,118.60 16.36% 5.18% -2.05%
7,145.01 16.16% 5.12% -1.43%
7,174.94 15.86% 5.03% -0.61%
7,203.83 15.59% 4.95% -1.19%
7,233.83 15.34% 4.87% -1.39%
7,263.07 15.11% 4.80% -0.66%
7,293.44 14.78% 4.70% -1.27%
7,324.53 14.54% 4.63% -1.65%
7,352.86 14.27% 4.55% -1.38%
7,383.75 13.92% 4.44% 0.16%
7,412.73 13.77% 4.39% 1.99%
7,442.61 13.72% 4.38% 3.06%
7,471.59 13.72% 4.38% 3.07%
7,496.43 13.76% 4.39% 4.56%
7,525.70 13.90% 4.43% 4.81%
7,554.40 14.03% 4.47% 5.02%
7,582.95 14.20% 4.52% 4.75%
7,604.47 14.19% 4.52% 4.16%
7,626.71 14.22% 4.53% 3.60%
7,649.53 14.27% 4.55% 3.18%
7,673.49 14.31% 4.56% 2.90%
7,696.24 14.37% 4.58% 2.37%
7,715.82 14.30% 4.56% 2.09%
7,738.00 14.26% 4.54% 1.87%
7,758.77 14.20% 4.52% 1.55%
7,776.20 14.06% 4.48% 1.51%
7,795.35 13.94% 4.45% 1.53%
7,815.73 13.85% 4.42% 1.58%
7,835.80 13.71% 4.38% 1.51%
7,853.82 13.52% 4.32% 1.25%
7,873.70 13.33% 4.26% 1.80%
7,891.37 13.13% 4.20% 1.56%
7,908.58 12.95% 4.14% 1.29%
7,925.20 12.75% 4.08% 1.25%
7,942.71 12.53% 4.01% 1.04%
7,959.77 12.30% 3.94% 0.84%
7,977.62 12.07% 3.87% 0.86%
7,993.52 11.88% 3.81% 0.67%
8,010.95 11.65% 3.74% 0.47%
8,028.69 11.45% 3.68% 0.61%
8,046.74 11.24% 3.61% 0.49%
8,064.46 11.03% 3.55% 0.46%
8,083.00 10.83% 3.49% 1.67%
8,101.32 10.61% 3.42% 1.82%
8,118.12 10.41% 3.36% 1.85%
8,136.88 10.20% 3.29% 1.88%
8,155.18 10.02% 3.23% 1.81%
8,174.08 9.83% 3.17% 1.62%
8,194.64 9.68% 3.13% 1.70%
8,211.76 9.54% 3.08% 1.87%
8,228.62 9.34% 3.02% 1.80%
8,243.41 9.12% 2.95% 1.64%
8,259.92 8.93% 2.89% 1.58%
8,274.45 8.81% 2.85% 1.42%
8,289.37 8.69% 2.82% 1.38%
8,304.37 8.56% 2.78% 1.24%
8,319.00 8.41% 2.73% 0.95%
8,334.73 8.30% 2.69% 1.01%
8,348.63 8.20% 2.66% 0.95%
8,364.62 8.10% 2.63% 0.87%
8,381.43 8.03% 2.61% 0.68%
8,396.34 7.97% 2.59% 0.36%
8,412.97 7.92% 2.57% 0.47%
8,429.71 7.86% 2.55% 0.59%
8,446.02 7.79% 2.53% 0.66%
8,459.94 7.72% 2.51% 0.72%
8,474.58 7.63% 2.48% 0.91%
8,488.90 7.57% 2.46% 1.05%
8,500.91 7.49% 2.44% 0.90%
8,513.34 7.42% 2.41% 0.89%
8,525.64 7.34% 2.39% 0.80%
8,538.02 7.26% 2.37% 0.84%
8,551.42 7.19% 2.34% 0.89%
8,562.92 7.12% 2.32% 0.79%
8,575.77 7.05% 2.30% 0.80%
8,588.51 6.97% 2.27% 0.79%
8,601.28 6.89% 2.25% 0.84%
8,613.61 6.81% 2.22% 0.84%
8,626.16 6.72% 2.19% 0.90%
8,638.42 6.63% 2.16% 0.88%
8,650.65 6.56% 2.14% 1.08%
8,663.35 6.47% 2.11% 1.16%
8,674.90 6.37% 2.08% 1.15%
8,687.33 6.28% 2.05% 1.26%
8,700.87 6.18% 2.02% 1.34%
8,712.51 6.10% 1.99% 1.09%
8,724.56 6.03% 1.97% 1.07%
8,738.87 6.01% 1.96% 1.03%
8,753.96 5.98% 1.96% 0.95%
8,767.21 5.96% 1.95% 1.12%
8,783.89 5.97% 1.95% 1.07%
8,798.60 5.95% 1.95% 1.11%
8,812.49 5.93% 1.94% 1.38%
8,827.30 5.91% 1.93% 1.13%
8,840.94 5.90% 1.93% 0.98%
8,854.40 5.86% 1.91% 0.82%
8,870.36 5.83% 1.91% 1.20%
8,885.71 5.83% 1.91% 1.52%
8,900.41 5.79% 1.90% 1.30%
8,914.97 5.76% 1.88% 1.30%
8,928.43 5.71% 1.87% 1.13%
8,940.26 5.68% 1.86% 1.39%
8,950.97 5.62% 1.84% 1.32%
8,958.45 5.53% 1.81% 1.15%
8,966.03 5.47% 1.79% 1.23%
8,973.27 5.40% 1.77% 1.17%
8,980.64 5.34% 1.75% 1.24%
8,987.13 5.26% 1.72% 1.17%
8,994.45 5.18% 1.70% 1.15%
9,001.24 5.12% 1.68% 1.04%
9,010.18 5.07% 1.66% -0.06%
9,014.46 4.96% 1.63% 0.20%
Average 12.71% 4.04%
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.618413787215691
R Square 0.382435612218453
Adjusted R Square 0.37862348636795
Standard Error 0.023120174982253
Observations 164
ANOVA
df SS MS F
Regression 1 0.053625743981059 0.0536257439810589 100.320825496345
Residual 162 0.086595883576019 0.00053454249121
Total 163 0.140221627557077
Coefficients Standard Error t Stat P-value

Intercept 0.041228910982817 0.004725394137995 8.72496764900775 3.07743075939E-15
X Variable 1 -1.08212919750465 0.108039749002725 -10.0160284292899 1.11254566996E-18
Significance F
1.11254566996E-18
Lower 95% Upper 95% Lower 95.0% Upper 95.0% Upper 95.0%
0.031897600583807 0.050560221381828 0.031897600583807 0.050560221381828 0.068492161400928
-1.29547699536757 -0.86878139964172 -1.29547699536757 -0.86878139964172 -0.93647322568397
30-Sep-2008 0.819000 0.814200 0.816600
31-Oct-2008 0.726600 0.722200 0.724400
28-Nov-2008 0.694100 0.689900 0.692000
31-Dec-2008 0.697300 0.693100 0.695200
30-Jan-2009 0.671100 0.667100 0.669100
27-Feb-2009 0.647600 0.643800 0.645700
31-Mar-2009 0.700400 0.696200 0.698300
30-Apr-2009 0.743300 0.738900 0.741100
29-May-2009 0.746000 0.741600 0.743800
30-Jun-2009 0.771000 0.766400 0.768700
31-Jul-2009 0.803900 0.799100 0.801500
31-Aug-2009 0.859000 0.853800 0.856400
30-Sep-2009 0.913500 0.908100 0.910800
30-Oct-2009 0.901000 0.895600 0.898300
30-Nov-2009 0.910900 0.905500 0.908200
31-Dec-2009 0.944500 0.938900 0.941700
29-Jan-2010 0.869900 0.864700 0.867300
26-Feb-2010 0.885200 0.880000 0.882600
31-Mar-2010 0.940900 0.935300 0.938100
30-Apr-2010 0.923000 0.917400 0.920200
31-May-2010 0.849900 0.844900 0.847400
30-Jun-2010 0.817300 0.812500 0.814900
30-Jul-2010 0.844900 0.839900 0.842400
31-Aug-2010 0.832000 0.827000 0.829500
30-Sep-2010 0.869600 0.864400 0.867000
29-Oct-2010 0.880200 0.875000 0.877600
30-Nov-2010 0.869700 0.864500 0.867100
31-Dec-2010 0.904700 0.899300 0.902000
31-Jan-2011 0.895600 0.890200 0.892900
28-Feb-2011 0.916500 0.911100 0.913800
31-Mar-2011 0.922400 0.916800 0.919600
29-Apr-2011 0.923100 0.917500 0.920300
31-May-2011 0.903200 0.897800 0.900500
30-Jun-2011 0.884500 0.879300 0.881900
29-Jul-2011 0.832900 0.827900 0.830400
31-Aug-2011 0.807200 0.802400 0.804800
30-Sep-2011 0.755700 0.751100 0.753400
31-Oct-2011 0.815000 0.810200 0.812600
30-Nov-2011 0.780700 0.776100 0.778400
30-Dec-2011 0.769400 0.764800 0.767100
31-Jan-2012 0.800400 0.795600 0.798000
29-Feb-2012 0.819200 0.814300 0.816700
30-Mar-2012 0.832800 0.827800 0.830300
30-Apr-2012 0.841400 0.836400 0.838900
31-May-2012 0.784900 0.780300 0.782600
29-Jun-2012 0.786300 0.781500 0.783900
31-Jul-2012 0.790700 0.785900 0.788300
31-Aug-2012 0.815800 0.811000 0.813400
28-Sep-2012 0.831800 0.826800 0.829300
31-Oct-2012 0.857400 0.852200 0.854800
30-Nov-2012 0.859900 0.854700 0.857300
31-Dec-2012 0.888600 0.883200 0.885900
31-Jan-2013 0.916800 0.911400 0.914100
28-Feb-2013 0.961100 0.955300 0.958200
29-Mar-2013 0.940400 0.934800 0.937600
30-Apr-2013 0.984200 0.978400 0.981300
31-May-2013 0.946700 0.941100 0.943900
28-Jun-2013 0.926300 0.920700 0.923500
31-Jul-2013 0.962400 0.956600 0.959500
30-Aug-2013 0.984800 0.979000 0.981900
30-Sep-2013 1.011000 1.005000 1.008000
31-Oct-2013 1.062600 1.056200 1.059400
29-Nov-2013 1.056600 1.050200 1.053400
31-Dec-2013 1.072500 1.066100 1.069300
31-Jan-2014 1.015400 1.009400 1.012400
28-Feb-2014 1.068700 1.062300 1.065500
31-Mar-2014 1.077000 1.070600 1.073800
30-Apr-2014 1.089000 1.082400 1.085700
30-May-2014 1.099200 1.092600 1.095900
30-Jun-2014 1.076200 1.069800 1.073000
31-Jul-2014 1.105500 1.098900 1.102200
29-Aug-2014 1.111700 1.105100 1.108400
30-Sep-2014 1.059500 1.053100 1.056300
31-Oct-2014 1.102900 1.096300 1.099600
28-Nov-2014 1.075400 1.069000 1.072200
31-Dec-2014 1.070700 1.064200 1.067400
30-Jan-2015 1.102700 1.096100 1.099400
27-Feb-2015 1.178100 1.171100 1.174600
31-Mar-2015 1.190400 1.183200 1.186800
30-Apr-2015 1.161500 1.154500 1.158000
29-May-2015 1.171400 1.164400 1.167900
30-Jun-2015 1.064624 1.058200 1.064624
31-Jul-2015 1.111800 1.105200 1.108500
31-Aug-2015 1.025900 1.019700 1.022800
30-Sep-2015 1.004300 0.998300 1.001300
30-Oct-2015 1.066700 1.060300 1.063500
30-Nov-2015 1.059200 1.052800 1.056000
31-Dec-2015 1.078400 1.072000 1.075200
29-Jan-2016 0.981200 0.975400 0.978300
29-Feb-2016 0.963100 0.957300 0.960200
31-Mar-2016 1.011500 1.005500 1.008500
29-Apr-2016 1.046700 1.040500 1.043600
31-May-2016 1.090300 1.083700 1.087000
30-Jun-2016 0.997996 0.991796 0.994896
29-Jul-2016 1.059400 1.053000 1.056200
31-Aug-2016 1.050100 1.043900 1.047000
30-Sep-2016 1.054500 1.048100 1.051300
31-Oct-2016 1.026200 1.020000 1.023100
30-Nov-2016 1.060800 1.054400 1.057600
30-Dec-2016 1.106800 1.100200 1.103500
31-Jan-2017 1.067200 1.060800 1.064000
28-Feb-2017 1.091300 1.084700 1.088000
31-Mar-2017 1.130000 1.123200 1.126600
28-Apr-2017 1.149900 1.143100 1.146500
31-May-2017 1.114600 1.108000 1.111300
30-Jun-2017 1.045320 1.039000 0.07108 1.042020
31-Jul-2017 1.045900 1.039700 1.042800
31-Aug-2017 1.055300 1.048900 1.052100
29-Sep-2017 1.059600 1.053200 1.056400
31-Oct-2017 1.103900 1.097300 1.100600
30-Nov-2017 1.125400 1.118600 1.122000
29-Dec-2017 1.126700 1.119900 0.02206 1.123300
31-Jan-2018 1.120200 1.113500 1.116800
28-Feb-2018 1.130000 1.123200 1.126600
30-Mar-2018 1.091300 1.084700 1.088000
30-Apr-2018 1.142200 1.135400 1.138800
31-May-2018 1.152600 1.145800 1.149200
29-Jun-2018 1.195500 1.188300 0.05697 1.191900
31-Jul-2018 1.148700 1.141900 1.145300
31-Aug-2018 1.165300 1.158300 1.161800
28-Sep-2018 1.149900 1.143100 1.146500
31-Oct-2018 1.083200 1.076800 1.080000
30-Nov-2018 1.048200 1.042000 1.045100
31-Dec-2018 1.023500 1.017300 0.02405 1.020400
31-Jan-2019 1.063600 1.057200 1.060400
28-Feb-2019 1.132800 1.126000 1.129400
29-Mar-2019 1.140200 1.133400 1.136800
30-Apr-2019 1.168300 1.161300 1.164800
31-May-2019 1.170000 1.163000 1.166500
28-Jun-2019 1.214400 1.207200 0.05304 1.210800
31-Jul-2019 1.201100 1.193900 1.197500
30-Aug-2019 1.175000 1.168000 1.171500
30-Sep-2019 1.190100 1.182900 1.186500
31-Oct-2019 1.185600 1.178600 1.182100
29-Nov-2019 1.226900 1.219500 1.223200
31-Dec-2019 1.175600 1.168500 0.02553 1.172000
31-Jan-2020 1.231500 1.224100 1.227800
28-Feb-2020 1.133300 1.126500 1.129900
31-Mar-2020 0.877100 0.871900 0.874600
30-Apr-2020 0.962700 0.956900 0.959800
Average
Standard Deviation
Monthly Return 1-year return 3-year return Annualized 3-year return
-11.29072%
-4.47267%
0.46243%
-3.75432%
-3.49724%
8.14620%
6.12917%
0.36432%
3.34767%
4.26694%
6.84966%
6.35217% 11.53564%
-1.37242% 24.00607%
1.10208% 31.24277%
3.68861% 35.45742%
-7.90061% 29.62188%
1.76410% 36.68886%
6.28824% 34.34054%
-1.90811% 24.16678%
-7.91132% 13.92848%
-3.83526% 6.01015%
3.37465% 5.10293%
-1.53134% -3.14106%
4.52080% -4.80896%
1.22261% -2.30435%
-1.19644% -4.52543%
4.02491% -4.21578%
-1.00887% 2.95169%
2.34069% 3.53501%
0.63471% -1.97207%
0.07612% 0.01087%
-2.15147% 6.26623%
-2.06552% 8.22187%
-5.83966% -1.42450%
-3.08285% -2.97770%
-6.38668% -13.10265% -7.73941% -2.64937%
7.85771% -7.40656% 12.17559% 3.90413%
-4.20871% -10.22950% 12.48555% 3.99974%
-1.45170% -14.95565% 10.34235% 3.33499%
4.02816% -10.62829% 19.26468% 6.04836%
2.34336% -10.62596% 26.48289% 8.14603%
1.66524% -9.71074% 18.90305% 5.94106%
1.03577% -8.84494% 13.19660% 4.21841%
-6.71117% -13.09273% 5.21646% 1.70943%
0.16611% -11.11237% 1.97736% 0.65482%
0.56130% -5.06985% -1.64691% -0.55201%
3.18407% 1.06859% -5.02102% -1.70249%
1.95476% 10.07433% -8.94818% -3.07640%
3.07488% 5.19321% -4.84248% -1.64094%
0.29247% 10.13618% -5.60449% -1.90419%
3.33606% 15.48690% -5.92545% -2.01550%
3.18320% 14.54887% 5.39606% 1.76727%
4.82442% 17.32582% 8.56560% 2.77735%
-2.14986% 12.92304% -0.05330% -0.01777%
4.66084% 16.97461% 6.63986% 2.16603%
-3.81127% 20.61078% 11.38777% 3.66031%
-2.16125% 17.80839% 13.32679% 4.25835%
3.89821% 21.71762% 13.90076% 4.43407%
2.33455% 20.71552% 18.37251% 5.78326%
2.65811% 21.54829% 16.26298% 5.15110%
5.09921% 23.93542% 20.71559% 6.47667%
-0.56636% 22.87414% 21.48541% 6.70253%
1.50940% 20.70211% 18.54767% 5.83541%
-5.32124% 10.75375% 13.38336% 4.27570%
5.24496% 11.19808% 16.60101% 5.25291%
0.77898% 14.52645% 16.76816% 5.30318%
1.10821% 10.63895% 17.97240% 5.66394%
0.93949% 16.10340% 21.69906% 6.76504%
-2.08961% 16.18841% 21.66912% 6.75629%
2.72134% 14.87233% 32.73121% 9.89831%
0.56251% 12.88319% 37.72366% 11.25926%
-4.70047% 4.79167% 40.20441% 11.92331%
4.09921% 3.79460% 35.31873% 10.60786%
-2.49182% 1.78470% 37.74409% 11.26477%
-0.44768% -0.17769% 39.14744% 11.64135%
2.99794% 8.59344% 37.76942% 11.27159%
6.84009% 10.23932% 43.82270% 12.87796%
1.03865% 10.52337% 42.93629% 12.64558%
-2.42669% 6.65930% 38.03791% 11.34382%
0.85492% 6.56994% 49.23332% 14.27606%
-8.84288% -0.78062% 35.81120% 10.74187%
4.12127% 0.57158% 40.61905% 12.03354%
-7.73117% -7.72284% 25.74379% 7.93497%
-2.10207% -5.20685% 20.74038% 6.48396%
6.21192% -3.28301% 24.41507% 7.55345%
-0.70522% -1.51091% 23.17742% 7.19562%
1.81818% 0.73075% 21.36810% 6.66817%
-9.01228% -11.01510% 7.02330% 2.28834%
-1.85015% -18.25302% 0.20872% 0.06953%
5.03020% -15.02359% 7.56186% 2.45963%
3.48042% -9.87910% 6.34872% 2.07297%
4.15868% -6.92696% 15.16050% 4.81767%
-8.47323% -6.54954% 7.73102% 2.51331%
6.16185% -4.71809% 10.07817% 3.25246%
-0.87105% 2.36605% 6.63000% 2.16288%
0.41070% 4.99351% 4.29563% 1.41185%
-2.68239% -3.79878% -3.42647% -1.15546%
3.37210% 0.15152% 0.39871% 0.13273%
4.34002% 2.63207% 3.19835% 1.05495%
-3.57952% 8.76009% 5.09680% 1.67086%
2.25564% 13.30973% 2.11168% 0.69900%
3.54779% 11.71046% 4.91712% 1.61289%
1.76638% 9.86010% 5.60007% 1.83289%
-3.07021% 2.23551% 1.40524% 0.46624%
0.16197% 11.88104% 3.73719% 1.23052%
0.07485% 5.46109% 1.05970% 0.35199%
0.89183% 7.27603% 1.33345% 0.44252%
0.40871% 7.24627% 6.73862% 2.19756%
4.18402% 14.52253% 6.55511% 2.13896%
1.94439% 12.81014% 11.27402% 3.62501%
2.08200% 10.23471% 13.96290% 4.45306%
-0.57865% 13.71617% 10.05458% 3.24508%
0.87751% 12.10846% 3.84301% 1.26494%
-3.42624% 4.84111% -0.47691% -0.15922%
4.66912% 7.45225% 6.38515% 2.08462%
0.91324% 11.79160% 6.37383% 2.08100%
8.67299% 28.78927% 26.05483% 8.02390%
-3.90972% 17.40794% 16.86152% 5.33124%
1.44067% 17.93841% 28.26652% 8.65201%
-1.31692% 16.01003% 29.49266% 8.99713%
-5.80026% 5.30892% 15.66620% 4.97088%
-3.23148% 0.18984% 13.18277% 4.21417%
-0.06220% 0.01602% 11.10119% 3.57133%
3.92003% 2.20451% 26.19442% 8.06375%
6.50698% 7.44009% 35.75922% 10.72774%
0.65522% 11.93199% 29.99108% 9.13679%
2.46305% 9.39761% 28.30203% 8.66204%
0.14595% 8.55552% 23.33579% 7.24154%
8.34462% 12.83329% 44.53772% 13.06471%
-1.09845% 11.28875% 34.88923% 10.49071%
-2.17119% 7.47030% 33.59121% 10.13515%
1.28041% 10.21282% 34.47161% 10.37656%
-0.37084% 16.59167% 37.74802% 11.26582%
3.47686% 24.41776% 37.14070% 11.10206%
-2.09859% 24.91376% 29.11010% 8.88969%
4.76109% 23.19596% 39.14756% 11.64138%
-7.97361% 7.00106% 27.07996% 8.31594%
-22.59492% -16.15324% 0.06480% 0.02159%
9.74160% -10.85422% 5.75927% 1.88404%
0.38% 6.91% 16.66% 5.10%

4.52% 11.70% 14.32% 4.28%
Rf
CAPM
23.43865% 4.30142%
46.24517% 7.89872%
52.22543% 8.76707%
53.81185% 8.99284%
51.30773% 8.63561%
65.01471% 10.53620%
53.77345% 8.98739%
46.49845% 7.93607%
47.33799% 8.05950%
39.58631% 6.89775%
37.51716% 6.57893%
29.42550% 5.29408%
15.97497% 3.00845%
22.40899% 4.12683%
18.05770% 3.37579%
13.34820% 2.53755%
26.76121% 4.85696%
33.08407% 5.88275%
26.51103% 4.81554%
25.84221% 4.70448%
37.82157% 6.62608%
30.64474% 5.49172%
31.58832% 5.64367%
23.30319% 4.27852%
15.49020% 2.92219%
21.18277% 3.91738%
21.78526% 4.02050%
19.20177% 3.57538%
9.56434% 1.84362%
5.07770% 0.99552%
9.66725% 1.86275%
13.39781% 2.54652%
20.71072% 3.83629%
12.81279% 2.44050%
27.19171% 4.92809%
30.09443% 5.40270%
39.54075% 6.89077%
25.90450% 4.71484%
35.86845% 6.32214%
43.85347% 7.54348%
33.33333% 5.92238%
33.21905% 5.90422%
35.68590% 6.29356%
36.66706% 6.44684%
42.00102% 7.26506%
41.99515% 7.26418%
41.30153% 7.15918%
38.08458% 6.66674%
35.95563% 6.33578%
37.07066% 6.50964%
39.16715% 6.83347%
37.31121% 6.54699%
32.36407% 5.76793%
27.29493% 4.94511%
25.97483% 4.72654%
25.54163% 4.65441%
31.61776% 5.64839%
45.31781% 7.76154%
35.00886% 6.18727%
33.60933% 5.96620%
28.63194% 5.16465%
16.11384% 3.03311%
13.46212% 2.55815%
11.71421% 2.24020%
21.94390% 4.04759%
22.34256% 4.11553%
22.08605% 4.07183%
23.32689% 4.28253%
22.33415% 4.11410%
34.01678% 6.03075%
29.25966% 5.26709%
26.19091% 4.76244%
33.83508% 6.00198%
28.16479% 5.08815%
35.27327% 6.22883%
33.47667% 5.94515%
34.66709% 6.13345%
17.71071% 3.31496%
-5.01095% -1.02290%
4.70898% 0.92454%
29.57% 5.24% SUMMARY OUTPUT

12.54% 2.06%
0.89%
9.49%
Benchmark 3-year Return Annualized Fund 1-year return
30,338.800
26,514.500
24,869.900
24,801.300
23,591.600
22,512.800
24,310.045
25,663.583
26,011.844
27,053.607
29,032.280
30,939.494
32,870.394
32,185.678
32,759.730
33,985.857
31,886.246
32,576.061
34,448.550
33,973.062
31,422.495
30,609.972
31,977.255
31,609.428
33,069.971
33,659.483
33,298.679
34,518.534
34,582.276
35,394.899
35,632.045
35,527.910
34,829.070
34,200.679
32,841.588
32,214.846
30,239.410 -0.33% -0.11% -2.65%
32,430.565 22.31% 6.94% 3.90%
31,302.535 25.87% 7.97% 4.00%
30,879.117 24.51% 7.58% 3.33%
32,448.822 37.54% 11.21% 6.05%
33,068.214 46.89% 13.67% 8.15%
33,472.327 37.69% 11.25% 5.94%
33,950.936 32.29% 9.78% 4.22%
31,695.595 21.85% 6.81% 1.71%
31,904.522 17.93% 5.65% 0.65%
33,270.369 14.60% 4.65% -0.55%
33,981.765 9.83% 3.18% -1.70%
34,723.661 5.64% 1.85% -3.08%
35,760.081 11.11% 3.57% -1.64%
35,929.261 9.68% 3.13% -1.90%
37,134.530 9.26% 3.00% -2.02%
38,973.871 22.23% 6.92% 1.77%
41,067.337 26.07% 8.03% 2.78%
40,160.923 16.58% 5.25% -0.02%
41,983.800 23.58% 7.31% 2.17%
40,093.747 27.60% 8.46% 3.66%
39,163.267 27.94% 8.56% 4.26%
41,199.663 28.84% 8.81% 4.43%
42,231.380 33.60% 10.14% 5.78%
43,157.868 30.50% 9.28% 5.15%
44,872.920 33.31% 10.06% 6.48%
44,285.129 32.99% 9.97% 6.70%
44,635.109 29.31% 8.95% 5.84%
43,283.123 25.16% 7.77% 4.28%
45,435.693 28.37% 8.68% 5.25%
45,567.844 27.88% 8.54% 5.30%
46,375.343 30.53% 9.29% 5.66%
46,690.530 34.06% 10.26% 6.77%
45,991.231 34.47% 10.38% 6.76%
48,015.767 46.20% 13.50% 9.90%
48,315.275 49.98% 14.47% 11.26%
45,716.650 51.18% 14.77% 11.92%
47,741.319 47.21% 13.76% 10.61%
46,187.799 47.55% 13.85% 11.26%
47,139.240 52.66% 15.14% 11.64%
48,684.637 50.04% 14.48% 11.27%
52,038.060 57.37% 16.32% 12.88%
52,006.707 55.37% 15.82% 12.65%
51,120.739 50.57% 14.62% 11.34%
51,324.943 61.93% 17.43% 14.28%
48,602.263 52.34% 15.06% 10.74%
50,741.724 52.51% 15.11% 12.03%
46,787.734 37.68% 11.25% 7.93%
45,404.889 30.76% 9.35% 6.48%
47,387.351 32.51% 9.84% 7.55%
47,063.157 30.99% 9.42% 7.20%
48,346.393 30.19% 9.19% 6.67%
45,697.844 17.25% 5.45% 2.29%
44,893.355 9.32% 3.01% 0.07%
47,018.558 17.08% 5.40% 2.46%
48,601.810 15.76% 5.00% 2.07%
50,101.440 24.96% 7.71% 4.82%
48,872.373 24.79% 7.66% 2.51%
51,945.956 26.08% 8.03% 3.25%
51,139.042 21.09% 6.59% 2.16%
51,386.008 19.07% 5.99% 1.41%
50,281.705 12.05% 3.87% -1.16%
51,783.782 16.93% 5.35% 0.13%
54,049.930 21.09% 6.59% 1.05%
53,623.424 23.89% 7.40% 1.67%
54,830.247 20.68% 6.47% 0.70%
56,652.868 24.33% 7.53% 1.61%
57,238.586 23.42% 7.27% 1.83%
55,661.894 19.21% 6.03% 0.47%
55,758.564 21.24% 6.63% 1.23%
55,753.349 16.11% 5.11% 0.35%
56,146.820 16.21% 5.13% 0.44%
56,137.989 22.80% 7.08% 2.20%
58,391.812 22.31% 6.94% 2.14%
59,350.705 28.50% 8.72% 3.63%
60,425.702 28.19% 8.63% 4.45%
60,154.875 23.56% 7.31% 3.25%
60,369.385 16.01% 5.07% 1.26%
58,092.499 11.70% 3.76% -0.16%
60,361.817 18.08% 5.70% 2.08%
61,021.245 18.89% 5.94% 2.08%
63,015.408 29.66% 9.04% 8.02%
63,889.598 25.91% 7.98% 5.33%
64,795.650 38.49% 11.46% 8.65%
63,979.035 40.91% 12.11% 9.00%
60,107.663 26.84% 8.25% 4.97%
58,779.987 24.90% 7.69% 4.21%
58,709.795 21.44% 6.69% 3.57%
60,981.042 33.44% 10.09% 8.06%
64,627.011 43.96% 12.91% 10.73%
65,101.268 38.46% 11.46% 9.14%
66,643.401 37.12% 11.10% 8.66%
67,783.657 35.29% 10.60% 7.24%
70,291.790 43.83% 12.88% 13.06%
72,358.182 39.30% 11.68% 10.49%
70,654.103 38.16% 11.38% 10.14%
71,954.542 40.03% 11.88% 10.38%
71,699.291 42.60% 12.56% 11.27%
74,048.830 43.00% 12.66% 11.10%
72,445.032 34.03% 10.26% 8.89%
76,055.837 41.83% 12.36% 11.64%
70,210.107 28.05% 8.59% 8.32%
55,711.412 -1.66% -0.56% 0.02%
60,602.950 5.88% 1.92% 1.88%
Average 28.93% 8.72%
SUMMARY OUTPUT
Multiple R 0.945147883698
R Square 0.893304522059
Observations 104
ANOVA
df SS MS F
Regression 1 0.16819902962 0.168199029620493 853.991781178189
Residual 102 0.020089538798 0.0001969562627271
Total 103 0.188288568419

Intercept -0.044849020428 0.003556139638 -12.6117152294336 1.53735544542E-22
X Variable 1 1.099383553298 0.037620311751 29.2231377709203 2.26999591838E-51
Significance F
2.26999591838E-51
-0.0519026065387 -0.03779543431789 -0.0519026065387 -0.03779543431789 -0.02296138672659
1.02476384331345 1.17400326328284 1.02476384331345 1.17400326328284 1.0507473418586
31-Mar-2004 1.000000 1.000000 1.000000
30-Apr-2004 1.004700 1.004700 1.004700
31-May-2004 1.021700 1.021700 1.021700
30-Jun-2004 1.038559 1.038559 1.038559
30-Jul-2004 1.100300 1.100300 1.100300
31-Aug-2004 1.136300 1.136300 1.136300
30-Sep-2004 1.169900 1.169900 1.169900
29-Oct-2004 1.253800 1.253800 1.253800
30-Nov-2004 1.292000 1.292000 1.292000
31-Dec-2004 1.284100 1.284100 1.284100
31-Jan-2005 1.329300 1.329300 1.329300
28-Feb-2005 1.312400 1.312400 1.312400
31-Mar-2005 1.232500 1.232500 1.232500
29-Apr-2005 1.167600 1.167600 1.167600
31-May-2005 1.180300 1.180300 1.180300
30-Jun-2005 1.182677 1.182677 1.182677
29-Jul-2005 1.211600 1.211600 1.211600
31-Aug-2005 1.268700 1.268700 1.268700
30-Sep-2005 1.302300 1.302300 1.302300
31-Oct-2005 1.268800 1.268800 1.268800
30-Nov-2005 1.322200 1.322200 1.322200
30-Dec-2005 1.336300 1.336300 1.336300
31-Jan-2006 1.359800 1.359800 1.359800
28-Feb-2006 1.412700 1.412700 1.412700
31-Mar-2006 1.422400 1.422400 1.422400
28-Apr-2006 1.449100 1.449100 1.449100
31-May-2006 1.394800 1.394800 1.394800
30-Jun-2006 1.271579 1.271579 1.271579
31-Jul-2006 1.265700 1.265700 1.265700
31-Aug-2006 1.299400 1.299400 1.299400
29-Sep-2006 1.337800 1.337800 1.337800
31-Oct-2006 1.414800 1.414800 1.414800
30-Nov-2006 1.444000 1.444000 1.444000
29-Dec-2006 1.503400 1.503400 1.503400
31-Jan-2007 1.511900 1.511900 1.511900
28-Feb-2007 1.512100 1.512100 1.512100
30-Mar-2007 1.519500 1.519500 1.519500
30-Apr-2007 1.572800 1.572800 1.572800
31-May-2007 1.675000 1.675000 1.675000
29-Jun-2007 1.665000 1.665000 1.665000
31-Jul-2007 1.447600 1.436000 1.441800
31-Aug-2007 1.411600 1.400300 1.405900
28-Sep-2007 1.518300 1.506200 1.512200
31-Oct-2007 1.603400 1.590600 1.597000
30-Nov-2007 1.557500 1.545100 1.551300
31-Dec-2007 1.520200 1.508000 1.514100
31-Jan-2008 1.338200 1.327600 1.332900
29-Feb-2008 1.364400 1.353500 1.359000
31-Mar-2008 1.312400 1.302000 1.307200
30-Apr-2008 1.401800 1.390600 1.396200
30-May-2008 1.456200 1.444600 1.450400
30-Jun-2008 1.335502 1.324802 1.330202
31-Jul-2008 1.294700 1.284400 1.289600
29-Aug-2008 1.325300 1.314700 1.320000
30-Sep-2008 1.193000 1.183400 1.188200
31-Oct-2008 1.022600 1.014400 1.018500
28-Nov-2008 0.928500 0.921100 0.924800
31-Dec-2008 0.962000 0.954200 0.958100
30-Jan-2009 0.927300 0.919900 0.923600
27-Feb-2009 0.882300 0.875300 0.878800
31-Mar-2009 0.979000 0.971100 0.975000
30-Apr-2009 1.043200 1.034800 1.039000
29-May-2009 1.158700 1.149500 1.154100
30-Jun-2009 1.212861 1.203161 1.207961
31-Jul-2009 1.321200 1.310700 1.316000
31-Aug-2009 1.424700 1.413300 1.419000
30-Sep-2009 1.511700 1.499600 1.505600
30-Oct-2009 1.504400 1.492400 1.498400
30-Nov-2009 1.533000 1.520800 1.526900
31-Dec-2009 1.609100 1.596200 1.602600
29-Jan-2010 1.493400 1.481500 1.487500
26-Feb-2010 1.489000 1.477100 1.483000
31-Mar-2010 1.620508 1.607508 1.614008
30-Apr-2010 1.645400 1.632300 1.638800
31-May-2010 1.495400 1.483500 1.489400
30-Jun-2010 1.317536 1.306136 1.311836
30-Jul-2010 1.399800 1.388600 1.394200
31-Aug-2010 1.406600 1.395400 1.401000
30-Sep-2010 1.523600 1.511500 1.517600
29-Oct-2010 1.543100 1.530800 1.536900
30-Nov-2010 1.507400 1.495400 1.501400
31-Dec-2010 1.538700 1.526300 1.532500
31-Jan-2011 1.591000 1.578400 1.584700
28-Feb-2011 1.605900 1.593100 1.599500
31-Mar-2011 1.581600 1.568900 1.575300
29-Apr-2011 1.571700 1.559100 1.565400
31-May-2011 1.529500 1.517300 1.523400
30-Jun-2011 1.358658 1.347058 1.352858
29-Jul-2011 1.370100 1.359200 1.364600
31-Aug-2011 1.322700 1.312200 1.317500
30-Sep-2011 1.196300 1.185600 1.190900
31-Oct-2011 1.301600 1.289900 1.295800
30-Nov-2011 1.228400 1.217400 1.222900
30-Dec-2011 1.182400 1.171800 1.177100
31-Jan-2012 1.251900 1.240700 1.246300
29-Feb-2012 1.333100 1.321200 1.327200
30-Mar-2012 1.386900 1.374500 1.380700
30-Apr-2012 1.397000 1.384500 1.390700
31-May-2012 1.239600 1.228500 1.234000
29-Jun-2012 1.205600 1.194800 1.200200
31-Jul-2012 1.231600 1.220600 1.226100
31-Aug-2012 1.266700 1.255400 1.261100
28-Sep-2012 1.312800 1.301000 1.306900
31-Oct-2012 1.311700 1.299900 1.305800
30-Nov-2012 1.253300 1.242100 1.247700
31-Dec-2012 1.318900 1.307000 1.313000
31-Jan-2013 1.345200 1.333100 1.339100
28-Feb-2013 1.381000 1.368600 1.374800
29-Mar-2013 1.351200 1.339100 1.345200
30-Apr-2013 1.324800 1.312900 1.318900
31-May-2013 1.300200 1.288600 1.294400
28-Jun-2013 1.256300 1.245100 1.250700
31-Jul-2013 1.356100 1.343900 1.350000
30-Aug-2013 1.420500 1.407800 1.414100
30-Sep-2013 1.460200 1.447000 1.453600
31-Oct-2013 1.488900 1.475600 1.482300
29-Nov-2013 1.465600 1.452500 1.459000
31-Dec-2013 1.464200 1.451000 1.457600
31-Jan-2014 1.439100 1.426300 1.432700
28-Feb-2014 1.550400 1.536500 1.543400
31-Mar-2014 1.563900 1.549900 1.556900
30-Apr-2014 1.552500 1.538600 1.545500
30-May-2014 1.541200 1.527400 1.534300
30-Jun-2014 1.519100 1.505500 1.512300
31-Jul-2014 1.581600 1.567400 1.574500
29-Aug-2014 1.628500 1.613900 1.621200
30-Sep-2014 1.542300 1.528500 1.535400
31-Oct-2014 1.562600 1.548600 1.555600
28-Nov-2014 1.507800 1.494300 1.501100
31-Dec-2014 1.519700 1.506000 1.512800
30-Jan-2015 1.563400 1.549400 1.556400
27-Feb-2015 1.705300 1.690000 1.697600
31-Mar-2015 1.691700 1.676522 1.684100
30-Apr-2015 1.675300 1.660300 1.667800
29-May-2015 1.713100 1.697800 1.705400
30-Jun-2015 1.623373 1.608801 1.623373
31-Jul-2015 1.685100 1.670000 1.677600
31-Aug-2015 1.627900 1.613400 1.620600
30-Sep-2015 1.636000 1.621271 1.628600
30-Oct-2015 1.757300 1.741500 1.749400
30-Nov-2015 1.824800 1.808400 1.816600
31-Dec-2015 1.927500 1.910200 1.918900
29-Jan-2016 1.835800 1.819400 1.827600
29-Feb-2016 1.727900 1.712500 1.720200
31-Mar-2016 1.779800 1.763827 1.771800
29-Apr-2016 1.872500 1.855800 1.864200
31-May-2016 1.979600 1.961900 1.970800
30-Jun-2016 1.940915 1.923200 1.931900
29-Jul-2016 2.110000 2.091100 2.100500
31-Aug-2016 2.047700 2.029300 2.038500
30-Sep-2016 2.087500 2.068800 2.078100
31-Oct-2016 1.982300 1.964500 1.973400
30-Nov-2016 1.948600 1.931100 1.939900
30-Dec-2016 1.949700 1.932200 1.940900
31-Jan-2017 1.862500 1.845800 1.854100
28-Feb-2017 1.888900 1.871900 1.880400
31-Mar-2017 1.848800 1.832100 1.840400
28-Apr-2017 1.837800 1.821300 1.829600
31-May-2017 1.824900 1.808500 1.816700
30-Jun-2017 1.625029 1.609354 0.24797 1.616629
31-Jul-2017 1.625500 1.611000 1.618200
31-Aug-2017 1.675100 1.660000 1.667600
29-Sep-2017 1.731600 1.716100 0.00500 1.723800
31-Oct-2017 1.820100 1.803800 1.812000
30-Nov-2017 1.910700 1.893600 1.902100
29-Dec-2017 1.953600 1.936100 0.00500 1.944900
31-Jan-2018 1.949600 1.932200 1.940900
28-Feb-2018 1.951000 1.933500 1.942200
30-Mar-2018 1.910900 1.893800 0.01500 1.902300
30-Apr-2018 1.949300 1.931800 1.940500
31-May-2018 2.017200 1.999100 2.008100
29-Jun-2018 2.031900 2.013700 0.13273 2.022800
31-Jul-2018 1.881900 1.865000 1.873400
31-Aug-2018 1.936000 1.918600 0.00750 1.927300
28-Sep-2018 1.895400 1.878400 0.03800 1.886900
31-Oct-2018 1.752800 1.737000 1.744900
30-Nov-2018 1.751900 1.736200 1.744000
31-Dec-2018 1.601700 1.587300 0.00500 1.594500
31-Jan-2019 1.700500 1.685200 1.692900
28-Feb-2019 1.792900 1.776800 1.784900
29-Mar-2019 1.812200 1.795900 0.01500 1.804100
30-Apr-2019 1.886600 1.869700 1.878200
31-May-2019 1.881800 1.864900 1.873300
28-Jun-2019 1.937800 1.920500 0.18295 1.929100
31-Jul-2019 1.840700 1.824200 1.832400
30-Aug-2019 1.810500 1.794300 1.802400
30-Sep-2019 1.866800 1.850000 0.00500 1.858400
31-Oct-2019 1.901700 1.884700 1.893200
29-Nov-2019 1.939900 1.922500 1.931200
31-Dec-2019 1.903200 1.886200 0.00500 1.894700
31-Jan-2020 1.943300 1.925900 1.934600
28-Feb-2020 1.862200 1.845600 1.853900
31-Mar-2020 1.375700 1.363300 1.369500
30-Apr-2020 1.597500 1.583100 1.590300
Average
Standard deviation
0.00470
0.01692
0.01650
0.05945
0.03272
0.02957
0.07172
0.03047
-0.00611
0.03520
-0.01271
-0.06088 23.25000%
-0.05266 16.21380%
0.01088 15.52315%
0.00201 13.87673%
0.02446 10.11542%
0.04713 11.65185%
0.02648 11.31721%
-0.02572 1.19636%
0.04209 2.33746%
0.01066 4.06510%
0.01759 2.29444%
0.03890 7.64249%
0.00687 15.40771%
0.01877 24.10928%
-0.03747 18.17335%
-0.08834 7.51701%
-0.00462 4.46517%
0.02663 2.41980%
0.02955 2.72595%
0.05756 11.50694%
0.02064 9.21192%
0.04114 12.50468%
0.00565 11.18547%
0.00013 7.03617%
0.00489 6.82649% 51.95000% 14.96533%
0.03508 8.53633% 56.54424% 16.11252%
0.06498 20.08890% 63.94245% 17.91357%
-0.00597 30.93956% 60.31829% 17.03821%
-0.13405 13.91325% 31.03699% 9.42872%
-0.02490 8.19609% 23.72613% 7.35455%
0.07561 13.03633% 29.25891% 8.93150%
0.05608 12.87815% 27.37279% 8.39907%
-0.02862 7.43075% 20.06966% 6.28642%
-0.02398 0.71172% 17.91138% 5.64572%
-0.11968 -11.83941% 0.27082% 0.09019%
0.01958 -10.12499% 3.55075% 1.16984%
-0.03812 -13.97170% 6.06085% 1.98079%
0.06808 -11.22838% 19.57862% 6.14133%
0.03882 -13.40896% 22.88401% 7.11044%
-0.08287 -20.10799% 12.47382% 3.99612%
-0.03052 -10.55625% 6.43777% 2.10145%
0.02357 -6.10997% 4.04351% 1.33007%
-0.09985 -21.42574% -8.76142% -3.01018%
-0.14282 -36.22417% -19.72730% -7.06286%
-0.09200 -40.38548% -30.05597% -11.23327%
0.03601 -36.72148% -28.30203% -10.49741%
-0.03601 -30.70748% -32.07825% -12.09715%
-0.04851 -35.33481% -37.79288% -14.63496%
0.10947 -25.41310% -31.45388% -11.82862%
0.06564 -25.58373% -28.30032% -10.49670%
0.11078 -20.42885% -17.25695% -6.11912%
0.04667 -9.18966% -5.00307% -1.69630%
0.08944 2.04715% 3.97409% 1.30752%
0.07827 7.50000% 9.20425% 2.97849%
0.06103 26.71267% 12.54298% 4.01743%
-0.00478 47.11831% 5.90896% 1.93208%
0.01902 65.10597% 5.74100% 1.87817%
0.04958 67.26855% 6.59838% 2.15278%
-0.07182 61.05457% -1.61386% -0.54087%
-0.00303 68.75284% -1.92448% -0.64565%
0.08834 65.53928% 6.21968% 2.03167%
0.01536 57.72859% 4.19634% 1.37966%
-0.09116 29.05294% -11.08060% -3.83903%
-0.11922 8.59920% -21.21105% -7.63904%
0.06279 5.94225% -3.30143% -1.11281%
0.00488 -1.26850% -0.34853% -0.11631%
0.08323 0.79702% 0.35710% 0.11889%
0.01272 2.56941% -3.76331% -1.27051%
-0.02310 -1.67005% -3.21666% -1.08393%
0.02071 -4.37414% 1.21524% 0.40345%
0.03406 6.53445% 18.89114% 5.93753%
0.00934 7.85570% 17.69684% 5.58161%
-0.01513 -2.39825% 20.50949% 6.41604%
-0.00628 -4.47889% 12.11861% 3.88653%
-0.02683 2.28280% 5.03309% 1.65031%
-0.11195 3.12707% 1.70320% 0.56454%
0.00868 -2.12308% 5.81576% 1.90217%
-0.03452 -5.96003% -0.18939% -0.06317%
-0.09609 -21.52741% 0.22723% 0.07569%
0.08808 -15.68742% 27.22631% 8.35750%
-0.05626 -18.54935% 32.23400% 9.76091%
-0.03745 -23.19086% 22.85774% 7.10280%
0.05879 -21.35420% 34.93937% 10.50440%
0.06491 -17.02407% 51.02412% 14.73135%
0.04031 -12.35320% 41.61026% 12.29616%
0.00724 -11.16009% 33.84986% 10.20619%
-0.11268 -18.99698% 6.92314% 2.25642%
-0.02739 -11.28411% -0.64249% -0.21462%
0.02158 -10.14949% -6.83131% -2.33102%
0.02855 -4.28083% -11.12755% -3.85596%
0.03632 9.74053% -13.19740% -4.60823%
-0.00084 0.77172% -12.85371% -4.48250%
-0.04449 2.02797% -18.28541% -6.50971%
0.05234 11.54532% -18.07064% -6.42787%
0.01988 7.44604% -9.97647% -3.44265%
0.02666 3.58650% -7.29602% -2.49367%
-0.02153 -2.57116% -16.65469% -5.89189%
-0.01955 -5.16287% -19.52038% -6.98308%
-0.01858 4.89465% -13.09252% -4.56983%
-0.03376 4.20763% -4.66034% -1.57822%
0.07940 10.10521% -3.17028% -1.06813%
0.04748 12.13227% 0.93505% 0.31072%
0.02793 11.22504% -4.21719% -1.42597%
0.01974 13.51662% -3.55261% -1.19851%
-0.01572 16.93516% -2.82403% -0.95035%
-0.00096 11.01295% -4.88744% -1.65643%
-0.01708 6.98977% -9.59172% -3.30529%
0.07727 12.26360% -3.50735% -1.18306%
0.00875 15.73744% -1.16803% -0.39087%
-0.00732 17.18098% -1.27124% -0.42556%
-0.00725 18.53368% 0.71550% 0.23794%
-0.01434 20.91629% 11.78557% 3.78356%
0.04113 16.62963% 15.38180% 4.88477%
0.02966 14.64536% 23.05123% 7.15900%
-0.05292 5.62741% 28.92770% 8.83838%
0.01316 4.94502% 20.04939% 6.28043%
-0.03503 2.88554% 22.74920% 7.07126%
0.00779 3.78705% 28.51924% 8.72332%
0.02882 8.63405% 24.88165% 7.68773%
0.09072 9.99093% 27.90838% 8.55079%
-0.00795 8.17008% 21.97436% 6.84549%
-0.00968 7.91330% 19.92522% 6.24378%
0.02254 11.15167% 38.20097% 11.38765%
-0.04810 7.34464% 35.25854% 10.59145%
0.03340 6.54811% 36.82408% 11.01649%
-0.03398 -0.03701% 28.50686% 8.71983%
0.00494 6.07008% 24.61550% 7.61117%
0.07417 12.45822% 33.97151% 10.23956%
0.03841 21.01792% 45.59590% 13.33996%
0.05631 26.84426% 46.14623% 13.48258%
-0.04758 17.42483% 36.47973% 10.92328%
-0.05877 1.33129% 25.12365% 7.75724%
0.03000 5.20753% 31.71276% 9.61650%
0.05215 11.77599% 41.34506% 12.22602%
0.05718 15.56233% 52.25587% 15.04242%
-0.01974 19.00531% 54.46550% 15.59627%
0.08727 25.20863% 55.59259% 15.87675%
-0.02952 25.78675% 44.15529% 12.96490%
0.01943 27.60039% 42.96230% 12.65242%
-0.05038 12.80439% 33.13095% 10.00852%
-0.01698 6.78741% 32.96093% 9.96168%
0.00052 1.14649% 33.15724% 10.01577%
-0.04472 1.44999% 29.41300% 8.97477%
0.01418 9.31287% 21.83491% 6.80475%
-0.02127 3.87177% 18.20926% 5.73461%
-0.00587 -1.85602% 18.38240% 5.78621%
-0.00705 -7.81916% 18.40579% 5.79317%
0.02637 -3.48367% 23.29558% 7.22988%
0.00097 -11.15592% 18.52461% 5.82855%
0.03053 -6.03041% 18.15754% 5.71919%
0.03670 -4.87609% 28.74626% 8.78730%
0.05117 4.64021% 32.74428% 9.90192%
0.04972 11.09181% 43.56605% 12.81078%
0.02513 13.49735% 45.61542% 13.34502%
-0.00206 18.59501% 41.27923% 12.20859%
0.00067 17.00542% 29.60474% 9.02856%
-0.01282 18.19550% 29.16513% 8.90515%
0.02008 20.98109% 32.71795% 9.89465%
0.03484 25.56118% 33.75572% 10.18034%
0.07342 50.21999% 49.59593% 14.36855%
-0.07386 25.51786% 35.85479% 10.75372%
0.03277 25.48153% 44.42182% 13.03448%
-0.00125 21.25131% 43.56503% 12.81051%
-0.07526 7.23675% 25.53447% 7.87505%
-0.00052 2.10977% 20.84113% 6.51357%
-0.08286 -7.56697% 6.86852% 2.23900%
0.06171 -2.56427% 17.59138% 5.55006%
0.05434 2.10740% 30.28136% 9.21797%
0.01916 6.04689% 28.41743% 8.69461%
0.04107 7.00490% 26.02725% 8.01602%
-0.00261 3.15871% 18.96184% 5.95852%
0.12745 14.21198% 33.71551% 10.16930%
-0.05013 11.07345% 18.37896% 5.78518%
-0.01637 6.41052% 20.50773% 6.41552%
0.03384 11.52419% 21.14672% 6.60328%
0.01873 20.41664% 29.33769% 8.95363%
0.02007 22.65768% 33.53008% 10.11835%
-0.01631 32.18250% 31.83832% 9.65133%
0.02106 26.56093% 40.16234% 11.91212%
-0.04171 15.51628% 33.91034% 10.22278%
-0.26129 -12.56305% 10.50043% 3.38432%
0.16123 -5.05537% 23.22092% 7.20824%
0.57% 6.90% 15.96% 4.64%

5.37% 18.01% 21.37% 6.67%
Rf
CAPM
-2.50000% -0.50508%
3.41395% 0.67365%
12.95879% 2.46700%
16.31125% 3.06812%
19.60374% 3.64514%
24.87899% 4.54370%
28.69476% 5.17492%
19.50869% 3.62866%
18.18111% 3.39740%
24.80336% 4.53104%
11.90100% 2.27437%
12.99909% 2.47431%
30.95400% 5.54162%
40.35629% 7.01542%
26.18826% 4.76200%
10.92090% 2.09458%
15.07098% 2.84736%
10.42800% 2.00368%
16.53229% 3.10726%
21.13020% 3.90836%
13.55317% 2.57460%
14.68233% 2.77780%
16.53920% 3.10848%
13.22291% 2.51487%
10.74944% 2.06299%
8.02567% 1.55596%
9.21996% 1.77952%
6.39197% 1.24691%
7.81386% 1.51610%
1.39295% 0.27705%
-10.98071% -2.29949%
-8.41108% -1.74185%
-15.31163% -3.26921%
-21.70414% -4.77571%
-17.56730% -3.79007%
-12.22803% -2.57483%
-9.13458% -1.89758%
-11.57808% -2.43097%
-26.32836% -5.92807%
-27.91592% -6.33704%
-14.96047% -3.18912%
-10.29945% -2.15041%
-13.57625% -2.87599%
-18.23419% -3.94624%
-19.57068% -4.26232%
-13.28182% -2.80990%
0.46515% 0.09286%
1.16262% 0.23145%
2.90698% 0.57475%
-5.53646% -1.13266%
-10.75565% -2.25014%
-5.97669% -1.22498%
4.68362% 0.91965%
7.12879% 1.38676%
22.33631% 4.11447%
45.53756% 7.79411%
57.76384% 9.54725%
52.13443% 8.75407%
55.12126% 9.17778%
75.62585% 11.92257%
59.68205% 9.81236%
48.74880% 8.26565%
32.94342% 5.86036%
25.19444% 4.59647%
19.64286% 3.65192%
14.24947% 2.70009%
1.97928% 0.39276%
3.81741% 0.75208%
-1.68970% -0.34025%
-5.60339% -1.14668%
4.63193% 0.90968%
14.47067% 2.73983%
4.34273% 0.85384%
1.76959% 0.35144%
14.50248% 2.74554%
23.74817% 4.35368%
20.32707% 3.77020%
15.67452% 2.95502%
7.31418% 1.42183%
13.82653% 2.62394%
20.99374% 3.88494%
25.21370% 4.59968%
15.32782% 2.89323%
7.54611% 1.46563%
12.47381% 2.37886%
19.08777% 3.55556%
29.36852% 5.28481%
42.80139% 7.38571%
53.92789% 9.00928%
54.72486% 9.12192%
74.49828% 11.77849%
52.29202% 8.77659%
58.63112% 9.66743%
64.88828% 10.51926%
48.76835% 8.26850%
41.68174% 7.21678%
33.29471% 5.91625%
31.55965% 5.63906%
47.22042% 8.04225%
55.35736% 9.21100%
52.20374% 8.76397%
51.89676% 8.72006%
51.25641% 8.62824%
58.13831% 9.59921%
72.72341% 11.55017%
67.77380% 10.90339%
64.20506% 10.42752%
60.03564% 9.86095%
61.70607% 10.08934%
67.82698% 10.91042%
76.22605% 11.99897%
94.17126% 14.19235%
68.82222% 11.04165%
65.51163% 10.60269%
60.84893% 9.97238%
48.15489% 8.17906%
50.45922% 8.51350%
40.69018% 7.06629%
50.00349% 8.44768%
45.20539% 7.74486%
46.14298% 7.88364%
52.01553% 8.73706%
52.80584% 8.84989%
70.81598% 11.30270%
57.92633% 9.56981%
51.52665% 8.66703%
63.96704% 10.39549%
64.07496% 10.41001%
72.56345% 11.52950%
69.14662% 11.08429%
66.97186% 10.79717%
48.33000% 8.20462%
20.75589% 3.84406%
35.17508% 6.21340%
26.90% 4.46% SUMMARY OUTPUT

27.99% 4.70%
0.89%
1.07%
Benchmark 3-year Return Annualized Fund 3-year return
2,041.100
2,045.200
2,052.100
2,072.700
2,180.400
2,234.300
2,277.500
2,415.900
2,488.100
2,491.900
2,592.000
2,502.400
2,466.600
2,314.100
2,394.200
2,501.100
2,582.600
2,688.600
2,735.700
2,682.100
2,756.500
2,761.900
2,770.200
2,868.000
2,972.700
2,956.000
2,840.500
2,867.600
2,836.500
2,939.400
2,990.400
3,131.500
3,241.100
3,347.400
3,448.500
3,449.800
3,529.100 72.90% 20.02% 14.97%
3,669.800 79.43% 21.52% 16.11%
3,810.900 85.71% 22.92% 17.91%
3,792.600 82.98% 22.31% 17.04%
3,736.000 71.34% 19.66% 9.43%
3,619.400 61.99% 17.44% 7.35%
3,632.100 59.48% 16.83% 8.93%
3,774.600 56.24% 16.04% 8.40%
3,633.700 46.04% 13.46% 6.29%
3,451.200 38.50% 11.47% 5.65%
2,899.600 11.87% 3.81% 0.09%
2,844.100 13.65% 4.36% 1.17%
2,683.900 8.81% 2.85% 1.98%
2,741.000 18.45% 5.81% 6.14%
2,698.200 12.70% 4.06% 7.11%
2,287.900 -8.52% -2.93% 4.00%
2,347.900 -9.09% -3.13% 2.10%
2,454.200 -8.72% -2.99% 1.33%
2,159.500 -21.06% -7.58% -3.01%
1,698.100 -36.69% -14.13% -7.06%
1,529.000 -44.53% -17.84% -11.23%
1,542.100 -44.17% -17.66% -10.50%
1,459.100 -47.33% -19.24% -12.10%
1,301.300 -54.63% -23.16% -14.63%
1,398.800 -52.95% -22.22% -11.83%
1,589.800 -46.22% -18.68% -10.50%
1,618.400 -43.02% -17.10% -6.12%
1,686.200 -41.20% -16.22% -1.70%
1,814.000 -36.05% -13.84% 1.31%
1,978.100 -32.70% -12.37% 2.98%
2,099.900 -29.78% -11.12% 4.02%
2,070.400 -33.88% -12.88% 1.93%
2,046.364 -36.86% -14.21% 1.88%
2,125.960 -36.49% -14.04% 2.15%
2,009.841 -41.72% -16.47% -0.54%
2,022.209 -41.38% -16.31% -0.65%
2,075.130 -41.20% -16.22% 2.03%
2,069.827 -43.60% -17.38% 1.38%
1,900.931 -50.12% -20.69% -3.84%
1,796.780 -52.62% -22.04% -7.64%
1,883.202 -49.59% -20.42% -1.11%
1,902.305 -47.44% -19.30% -0.12%
1,996.242 -45.04% -18.09% 0.12%
2,034.469 -46.10% -18.62% -1.27%
2,003.172 -44.87% -18.00% -1.08%
2,088.949 -39.47% -15.41% 0.40%
2,096.860 -27.68% -10.24% 5.94%
2,096.669 -26.28% -9.66% 5.58%
2,109.694 -21.39% -7.71% 6.42%
2,086.062 -23.89% -8.70% 3.89%
2,041.452 -24.34% -8.88% 1.65%
1,997.174 -12.71% -4.43% 0.56%
1,959.004 -16.56% -5.86% 1.90%
1,902.717 -22.47% -8.13% -0.06%
1,757.991 -18.59% -6.63% 0.08%
1,857.472 9.39% 3.04% 8.36%
1,793.849 17.32% 5.47% 9.76%
1,743.447 13.06% 4.18% 7.10%
1,838.392 25.99% 8.01% 10.50%
1,985.525 52.58% 15.12% 14.73%
2,043.531 46.09% 13.47% 12.30%
2,039.627 28.29% 8.66% 10.21%
1,897.003 17.21% 5.44% 2.26%
1,855.360 10.03% 3.24% -0.21%
1,885.155 3.92% 1.29% -2.33%
1,936.457 -2.11% -0.71% -3.86%
1,912.841 -8.91% -3.06% -4.61%
1,967.832 -4.95% -1.68% -4.48%
1,948.801 -4.77% -1.62% -6.51%
2,050.793 -3.54% -1.19% -6.43%
2,182.698 8.60% 2.79% -3.44%
2,269.830 12.25% 3.93% -2.49%
2,230.232 7.47% 2.43% -5.89%
2,245.380 8.48% 2.75% -6.98%
2,166.524 13.97% 4.46% -4.57%
2,073.444 15.40% 4.89% -1.58%
2,204.972 17.09% 5.40% -1.07%
2,244.428 17.98% 5.67% 0.31%
2,309.755 15.71% 4.98% -1.43%
2,380.593 17.01% 5.38% -1.20%
2,290.081 14.32% 4.56% -0.95%
2,336.117 11.83% 3.80% -1.66%
2,261.374 7.85% 2.55% -3.31%
2,361.367 12.62% 4.04% -1.18%
2,342.294 11.03% 3.55% -0.39%
2,310.763 10.77% 3.47% -0.43%
2,305.650 12.94% 4.14% 0.24%
2,256.546 12.99% 4.15% 3.78%
2,346.954 19.80% 6.21% 4.88%
2,426.464 27.53% 8.44% 7.16%
2,321.236 32.04% 9.71% 8.84%
2,349.265 26.48% 8.14% 6.28%
2,300.257 28.23% 8.64% 7.07%
2,314.696 32.77% 9.91% 8.72%
2,321.374 26.27% 8.09% 7.69%
2,499.951 25.91% 7.98% 8.55%
2,457.102 20.24% 6.34% 6.85%
2,453.837 20.31% 6.36% 6.24%
2,518.104 32.74% 9.90% 11.39%
2,330.249 25.60% 7.89% 10.59%
2,414.783 28.09% 8.60% 11.02%
2,304.776 19.02% 5.98% 8.72%
2,301.364 20.31% 6.36% 7.61%
2,431.875 23.58% 7.31% 10.24%
2,476.310 27.07% 8.31% 13.34%
2,561.124 24.88% 7.69% 13.48%
2,427.435 11.21% 3.61% 10.92%
2,383.346 5.00% 1.64% 7.76%
2,499.635 12.08% 3.87% 9.62%
2,508.784 11.73% 3.77% 12.23%
2,628.385 21.32% 6.65% 15.04%
2,524.565 21.76% 6.78% 15.60%
2,732.995 23.95% 7.42% 15.88%
2,712.490 20.85% 6.52% 12.96%
2,704.424 17.09% 5.40% 12.65%
2,559.816 7.53% 2.45% 10.01%
2,530.677 10.51% 3.39% 9.96%
2,618.764 12.10% 3.88% 10.02%
2,517.189 11.31% 3.64% 8.97%
2,556.199 8.25% 2.68% 6.80%
2,639.520 12.69% 4.06% 5.73%
2,652.542 14.79% 4.71% 5.79%
2,575.796 11.72% 3.76% 5.79%
2,627.004 16.42% 5.20% 7.23%
2,618.340 11.56% 3.71% 5.83%
2,655.668 9.45% 3.05% 5.72%
2,658.083 14.51% 4.62% 8.79%
2,812.788 19.73% 6.19% 9.90%
2,889.608 25.62% 7.90% 12.81%
2,924.184 26.33% 8.10% 13.35%
2,910.434 25.38% 7.83% 12.21%
2,902.109 16.09% 5.10% 9.03%
2,827.424 15.07% 4.79% 8.91%
2,866.285 16.81% 5.32% 9.89%
2,975.693 18.17% 5.72% 10.18%
3,005.214 28.97% 8.85% 14.37%
2,986.739 23.69% 7.34% 10.75%
3,107.962 34.85% 10.48% 13.03%
3,075.344 33.63% 10.15% 12.81%
2,745.601 12.90% 4.13% 7.88%
2,765.810 11.69% 3.75% 6.51%
2,647.639 3.38% 1.11% 2.24%
2,776.072 14.36% 4.57% 5.55%
2,964.114 24.37% 7.54% 9.22%
2,957.962 18.34% 5.77% 8.69%
3,141.407 25.22% 7.78% 8.02%
3,097.129 17.83% 5.62% 5.96%
3,100.197 22.80% 7.09% 10.17%
3,213.471 17.58% 5.55% 5.79%
3,104.440 14.45% 4.60% 6.42%
3,186.313 17.82% 5.62% 6.60%
3,165.682 23.67% 7.34% 8.95%
3,251.783 28.49% 8.72% 10.12%
3,193.366 21.94% 6.84% 9.65%
3,325.316 32.10% 9.73% 11.91%
3,036.072 18.77% 5.90% 10.22%
2,313.409 -12.35% -4.30% 3.38%
2,609.098 -1.64% -0.55% 7.21%
Average 6.90% 1.28%
SUMMARY OUTPUT
Multiple R 0.71283508363054
R Square 0.508133856454559
Standard Error 0.0469310003879561
Observations 158
ANOVA
df SS MS F
Regression 1 0.354956737885545 0.354956737885545 161.159459025843
Residual 156 0.343592932396636 0.0022025187974143
Total 157 0.69854967028218

Intercept 0.0404190926591379 0.0037634635988018 10.7398654452263 1.7212901887E-20
X Variable 1 0.469950585640409 0.0370189669088786 12.6948595512453 8.187127592118E-26
Significance F
8.187127592117E-26
0.0329851700267281 0.0478530152915477 0.0329851700267281 0.0478530152915477 0.0526840235231682
0.396827482757214 0.543073688523605 0.396827482757214 0.543073688523605 0.876919096372706
Date Offer Bid Dividends
31-Aug-2012 1.051300 1.045100
28-Sep-2012 1.075582 1.069148
31-Oct-2012 1.069900 1.063500
30-Nov-2012 1.074200 1.067800
31-Dec-2012 1.107900 1.101300
31-Jan-2013 1.154100 1.147200
28-Feb-2013 1.164500 1.157500
29-Mar-2013 1.176000 1.169000
30-Apr-2013 1.208900 1.201700
31-May-2013 1.290800 1.283100
28-Jun-2013 1.244156 1.236714
31-Jul-2013 1.340100 1.332000
30-Aug-2013 1.319100 1.311200
30-Sep-2013 1.322500 1.314600
31-Oct-2013 1.364000 1.355900
29-Nov-2013 1.438700 1.430100
31-Dec-2013 1.464614 1.455852
31-Jan-2014 1.440300 1.431700
28-Feb-2014 1.430141 1.421586
31-Mar-2014 1.392522 1.384192
30-Apr-2014 1.403025 1.394632
30-May-2014 1.457906 1.449185
30-Jun-2014 1.316497 1.308621
31-Jul-2014 1.306936 1.299118
29-Aug-2014 1.323658 1.315740
30-Sep-2014 1.365986 1.357814
31-Oct-2014 1.381332 1.373068
28-Nov-2014 1.453716 1.445020
31-Dec-2014 1.481297 1.472435
30-Jan-2015 1.546787 1.537535
27-Feb-2015 1.594480 1.584942
31-Mar-2015 1.620200 1.610508
30-Apr-2015 1.620526 1.610832
29-May-2015 1.681904 1.671842
30-Jun-2015 1.525263 1.516141
31-Jul-2015 1.603514 1.593922
31-Aug-2015 1.547118 1.537864
30-Sep-2015 1.500950 1.491972
30-Oct-2015 1.561319 1.551979
30-Nov-2015 1.540178 1.530964
31-Dec-2015 1.502054 1.493068
29-Jan-2016 1.472240 1.463432
29-Feb-2016 1.439325 1.430715
31-Mar-2016 1.433469 1.424893
29-Apr-2016 1.463395 1.454641
31-May-2016 1.537306 1.528110
30-Jun-2016 1.417046 1.408570
29-Jul-2016 1.440115 1.431501
31-Aug-2016 1.454401 1.445701
30-Sep-2016 1.428347 1.419803
31-Oct-2016 1.410597 1.402159
30-Nov-2016 1.462172 1.453426
30-Dec-2016 1.518441 1.509357
31-Jan-2017 1.496162 1.487212
28-Feb-2017 1.510058 1.501024
31-Mar-2017 1.543396 1.534164
28-Apr-2017 1.614568 1.604910
31-May-2017 1.655187 1.645285
30-Jun-2017 1.554872 1.545306
31-Jul-2017 1.536902 1.527708
31-Aug-2017 1.534516 1.525336
29-Sep-2017 1.592570 1.583044
31-Oct-2017 1.674322 1.664306
30-Nov-2017 1.718596 1.708316
29-Dec-2017 1.655961 1.645853 0.02429
31-Jan-2018 1.687491 1.677397
28-Feb-2018 1.688031 1.677933
30-Mar-2018 1.700189 1.690019
30-Apr-2018 1.715606 1.705344
31-May-2018 1.722557 1.712253
29-Jun-2018 1.717134 1.706862 0.06410
31-Jul-2018 1.664404 1.654448
31-Aug-2018 1.709881 1.699653
28-Sep-2018 1.693061 1.682933
31-Oct-2018 1.600963 1.591385
30-Nov-2018 1.584996 1.575514
31-Dec-2018 1.526184 1.517054
31-Jan-2019 1.577418 1.567982
28-Feb-2019 1.635498 1.625714
29-Mar-2019 1.651625 1.641745
30-Apr-2019 1.710059 1.699829
31-May-2019 1.638055 1.628257
28-Jun-2019 1.702860 1.692674
31-Jul-2019 1.720334 1.710042
30-Aug-2019 1.721573 1.711275
30-Sep-2019 1.745703 1.735261
31-Oct-2019 1.742591 1.732167
29-Nov-2019 1.809485 1.798661
31-Dec-2019 1.797320 1.786568
31-Jan-2020 1.874437 1.863225
28-Feb-2020 1.820362 1.809472
31-Mar-2020 1.696976 1.686824
30-Apr-2020 1.716257 1.707697
Average
Standard Deviation
NAV Monthly Return 1-year return 3-year return
1.048200
1.072365 0.023053806525472
1.066700 -0.00528271623934
1.071000 0.004031124027374
1.104600 0.031372549019608
1.150600 0.041644034039471
1.161000 0.009038762384843
1.172500 0.009905254091301
1.205300 0.027974413646055
1.286900 0.067700987306065
1.240435 -0.03610614655373
1.336000 0.077041521724234
1.315100 -0.01564371257485 25.46270%
1.318600 0.002661394570755 22.96186%
1.360000 0.031396936144396 27.49602%
1.434400 0.054705882352941 33.93091%
1.460233 0.018009620747351 32.19564%
1.436000 -0.01659529677798 24.80445%
1.425864 -0.00705849582173 22.81344%
1.388357 -0.02630475276744 18.40998%
1.398828 0.007542008287494 16.05642%
1.453546 0.039117032258434 12.94941%
1.312559 -0.0969952103339 5.81441%
1.303027 -0.00726214973955 -2.46804%
1.319699 0.012794823131063 0.34971%
1.361900 0.031977746440666 3.28379%
1.377200 0.011234305015052 1.26471%
1.449368 0.052401975021783 1.04350%
1.476866 0.018972407283727 1.13906%
1.542161 0.044211864854361 7.39283%
1.589711 0.030833356569126 11.49107%
1.615354 0.016130604870948 16.35005%
1.615679 0.000201194289301 15.50233%
1.676873 0.037875097714336 15.36429%
1.520703 -0.09313168021669 15.85788%
1.598718 0.051301930751764 22.69262%
1.542491 -0.03517005500657 16.88203% 47.15617%
1.496461 -0.02984134105158 9.88039% 39.54773%
1.556649 0.040220226253808 13.02999% 45.93128%
1.535571 -0.01354062476512 5.94763% 43.37731%
1.497561 -0.02475300718755 1.40128% 35.57496%
1.467836 -0.01984894104481 -4.81954% 27.57135%
1.435020 -0.02235672105058 -9.73076% 23.60207%
1.429181 -0.00406893283717 -11.52521% 21.89177%
1.459018 0.020876991787604 -9.69629% 21.05019%
1.532708 0.050506573599503 -8.59725% 19.10078%
1.412808 -0.07822755541173 -7.09507% 13.89617%
1.435808 0.016279636015651 -10.19004% 7.47066%
1.450051 0.0099198500078 -5.99290% 10.26165%
1.424075 -0.01791385268518 -4.83715% 7.99901%
1.406378 -0.01242701402665 -9.65349% 3.41015%
1.457799 0.036562716424745 -5.06470% 1.63127%
1.513899 0.038482671479402 1.09097% 3.67517%
1.491687 -0.01467204879586 1.62491% 3.87792%
1.505541 0.009287471165198 4.91429% 5.58798%
1.538780 0.022077778021323 7.66866% 10.83461%
1.609739 0.04611380444248 10.33030% 15.07769%
1.650236 0.025157494475813 7.66800% 13.53174%
1.550089 -0.06068647151074 9.71689% 18.09671%
1.532305 -0.01147288962118 6.72075% 17.59580%
1.529926 -0.00155256296886 5.50843% 15.92992%
1.587807 0.037832548763797 11.49743% 16.58763%
1.669314 0.051333065038761 18.69597% 21.21072%
1.713456 0.026443197624893 17.53719% 18.22091%
1.650907 -0.0223285570216 10.65448% 13.42918%
1.682444 0.01910283256416 14.41636% 10.67158%
1.682982 0.000319772901802 13.39924% 7.39512%
1.695104 0.007202691413218 11.73748% 6.44069%
1.710475 0.009067880200861 7.76685% 7.37065%
1.717405 0.00405150616057 5.54218% 3.86565%
1.711998 0.034175398348089 16.14740% 18.39182%
1.659426 -0.03070797979904 14.06450% 9.32610%
1.704767 0.027323303359113 17.20547% 16.25073%
1.687997 -0.00983712143654 11.87676% 18.70587%
1.596174 -0.05439760852656 0.91355% 8.21733%
1.580255 -0.00997322347062 -2.61524% 8.66609%
1.521619 -0.03710540387469 -2.47730% 7.50874%
1.572700 0.033570164410408 -2.71296% 13.16591%
1.630606 0.03681948241877 0.69662% 19.78899%
1.646685 0.009860751156319 0.92508% 21.40345%
1.704944 0.035379565612124 3.42414% 22.91377%
1.633156 -0.04210578177348 -1.17322% 12.32055%
1.697767 0.039562050410371 2.91291% 26.42603%
1.715188 0.010261125348767 3.36032% 25.61415%
1.716424 0.000720620713298 0.68379% 24.46555%
1.740482 0.014016350272427 3.10931% 28.42526%
1.737379 -0.00178283946631 8.84647% 29.82065%
1.804073 0.038387709302346 14.16341% 29.81646%
1.791944 -0.00672312040588 17.76562% 24.20472%
1.868831 0.042907032809061 18.82947% 31.20856%
1.814917 -0.0288490505562 11.30322% 26.42014%
1.691900 -0.0677810610623 2.74582% 15.69490%
1.711977 0.011866540575684 0.41251% 11.84217%
0.65% 7.64% 18.06%

3.39% 10.23% 10.86%
Rf
CAPM
Annualized 3-year return 5-year return Annualized 5-year return
13.74339%
11.74830%
13.42692%
12.76132%
10.67762%
8.45537%
7.31866%
6.82137%
6.57496%
5.99976%
4.43267%
2.43066%
3.30980%
2.59824%
1.12403%
0.54083%
1.21035%
1.27628%
1.82900%
3.48843%
4.79254%
4.32116%
5.70104%
5.55138%
5.05059% 45.95745% 7.85623%
5.24888% 48.06591% 8.16606%
6.62204% 56.49330% 9.37024%
5.73808% 59.98655% 9.85421%
4.28974% 51.65644% 8.68564%
3.43766% 48.33426% 8.20524%
2.40665% 47.05185% 8.01749%
2.10239% 46.64341% 7.95742%
2.39888% 43.92807% 7.55463%
1.27229% 35.34035% 6.23936%
5.78901% 45.14166% 7.73540%
3.01677% 30.82455% 5.52075%
5.14741% 36.35138% 6.39762%
5.88247% 34.71766% 6.14142%
2.66733% 23.86500% 4.37337%
2.80905% 16.33052% 3.07153%
2.44276% 10.25699% 1.97207%
4.20900% 15.67479% 2.95507%
6.20353% 20.55820% 3.81004%
6.67853% 24.97326% 4.55948%
7.11908% 28.20261% 5.09435%
3.94886% 18.43767% 3.44225%
8.12982% 36.08204% 6.35555%
7.89787% 38.41448% 6.71766%
7.56799% 36.75952% 6.46124%
8.69681% 34.28827% 6.07368%
9.08907% 32.57109% 5.80100%
9.08790% 30.57160% 5.47991%
7.49280% 27.31920% 4.94912%
9.47645% 26.91418% 4.88226%
8.12815% 19.72660% 3.66643%
4.97956% 10.21052% 1.96347%
3.80108% 11.43098% 2.18830%
5.60% 33.12% 5.80%

3.18% 13.53% 2.16%
0.89%
4.16%
Benchmark 3-year Return Annualized
1,279.21
1,311.50
1,301.52
1,315.49
1,338.50
1,405.47
1,405.18
1,434.51
1,476.14
1,471.93
1,433.55
1,507.91
1,472.74
1,543.67
1,602.86
1,628.42
1,661.07
1,598.46
1,675.40
1,673.87
1,687.74
1,715.18
1,743.42
1,714.33
1,748.67
1,698.41
1,708.09
1,739.50
1,709.67
1,677.54
1,772.86
1,740.81
1,778.40
1,779.31
1,735.61
1,765.60
1,645.43 28.63% 8.75%
1,581.92 20.62% 6.45%
1,705.80 31.06% 9.44%
1,694.40 28.80% 8.80%
1,662.79 24.23% 7.50%
1,562.18 11.15% 3.59%
1,547.17 10.10% 3.26%
1,648.12 14.89% 4.74%
1,670.80 13.19% 4.22%
1,674.61 13.77% 4.39%
1,653.23 15.32% 4.87%
1,721.79 14.18% 4.52%
1,719.52 16.76% 5.30%
1,725.67 11.79% 3.78%
1,690.92 5.49% 1.80%
1,712.09 5.14% 1.68%
1,751.22 5.43% 1.78%
1,792.40 12.13% 3.89%
1,838.70 9.75% 3.15%
1,853.69 10.74% 3.46%
1,878.28 11.29% 3.63%
1,911.74 11.46% 3.68%
1,916.43 9.92% 3.20%
1,961.10 14.39% 4.58%
1,959.74 12.07% 3.87%
2,000.55 17.79% 5.61%
2,036.80 19.24% 6.04%
2,077.36 19.42% 6.10%
2,103.45 23.03% 7.15%
2,213.24 31.93% 9.68%
2,117.99 19.47% 6.11%
2,066.85 18.73% 5.89%
2,086.51 17.33% 5.47%
2,092.92 17.63% 5.56%
2,089.30 20.38% 6.38%
2,153.10 21.95% 6.84%
2,175.50 32.21% 9.76%
2,184.01 38.06% 11.35%
2,021.98 18.54% 5.83%
2,041.36 20.48% 6.41%
1,883.90 13.30% 4.25%
2,028.49 29.85% 9.10%
2,085.84 34.82% 10.47%
2,107.74 27.89% 8.54%
2,178.67 30.40% 9.25%
2,046.25 22.19% 6.91%
2,178.35 31.76% 9.63%
2,187.56 27.05% 8.31%
2,138.52 24.37% 7.54%
2,180.02 26.33% 8.10%
2,233.53 32.09% 9.72%
2,292.26 33.89% 10.22%
2,358.47 34.68% 10.43%
2,342.41 30.69% 9.33%
2,141.12 16.45% 5.21%
1,852.73 -0.05% -0.02%
2,052.85 9.29% 3.01%
Average 19.71% 6.11%
SUMMARY OUTPUT
Multiple R 0.52637377837385
R Square 0.277069354559563
Standard Error 0.0272666808881229
Observations 57
ANOVA
df SS
Regression 1 0.015671807854225
Residual 55 0.0408909537660101
Total 56 0.0565627616202351
Coefficients Standard Error

Intercept 0.0176996656364349 0.0090819990775747
X Variable 1 0.625746473086451 0.136292242332218
Fund 3-year return
13.74%
11.75%
13.43%
12.76%
10.68%
8.46%
7.32%
6.82%
6.57%
6.00%
4.43%
2.43%
3.31%
2.60%
1.12%
0.54%
1.21%
1.28%
1.83%
3.49%
4.79%
4.32%
5.70%
5.55%
5.05%
5.25%
6.62%
5.74%
4.29%
3.44%
2.41%
2.10%
2.40%
1.27%
5.79%
3.02%
5.15%
5.88%
2.67%
2.81%
2.44%
4.21%
6.20%
6.68%
7.12%
3.95%
8.13%
7.90%
7.57%
8.70%
9.09%
9.09%
7.49%
9.48%
8.13%
4.98%
3.80%
MS F Significance F
0.015671807854225 21.079220526738 2.603711341067E-05
0.0007434718866547
t Stat P-value Lower 95% Upper 95%

1.94887331360106 0.056418557831636 -0.000501067236816 0.0359003985096853
4.59121122654338 2.603711341067E-05 0.352610715837789 0.898882230335112
Lower 95.0% Upper 95.0% Upper 95.0%
-0.000501067236816 0.0359003985096853 0.0487962487765601
0.352610715837789 0.898882230335112 0.862223874190666
Date Offer Dividends NAV Monthly Return 1-year return
30-Sep-2003 9.930000
31-Oct-2003 10.490000 5.64%
28-Nov-2003 10.550000 0.57%
31-Dec-2003 11.230000 6.45%
30-Jan-2004 11.370000 1.25%
27-Feb-2004 11.680000 2.73%
31-Mar-2004 11.660000 -0.17%
30-Apr-2004 11.270000 -3.34%
28-May-2004 11.390000 1.06%
30-Jun-2004 11.580000 1.67%
30-Jul-2004 11.410000 -1.47%
31-Aug-2004 11.740000 2.89%
30-Sep-2004 12.040000 2.56% 21.25%
29-Oct-2004 12.410000 3.07% 18.30%
30-Nov-2004 12.710000 2.42% 20.47%
31-Dec-2004 13.190000 3.78% 17.45%
31-Jan-2005 12.890000 -2.27% 13.37%
28-Feb-2005 13.300000 3.18% 13.87%
31-Mar-2005 12.970000 -2.48% 11.23%
29-Apr-2005 12.860000 -0.85% 14.11%
31-May-2005 13.700000 12.910000 0.39% 13.35%
30-Jun-2005 13.900000 13.100000 1.47% 13.13%
29-Jul-2005 14.020000 13.210000 0.84% 15.78%
31-Aug-2005 14.100000 13.290000 0.61% 13.20%
30-Sep-2005 14.400000 13.570000 2.11% 12.71%
31-Oct-2005 13.870000 13.070000 -3.68% 5.32%
30-Nov-2005 14.270000 13.450000 2.91% 5.82%
30-Dec-2005 14.370000 13.540000 0.67% 2.65%
31-Jan-2006 15.030000 14.170000 4.65% 9.93%
28-Feb-2006 15.150000 14.280000 0.78% 7.37%
31-Mar-2006 15.440000 14.550000 1.89% 12.18%
28-Apr-2006 15.980000 15.060000 3.51% 17.11%
31-May-2006 15.530000 14.640000 -2.79% 13.40%
30-Jun-2006 15.540000 14.650000 0.07% 11.83%
31-Jul-2006 15.680000 14.780000 0.89% 11.88%
31-Aug-2006 16.110000 15.180000 2.71% 14.22%
29-Sep-2006 16.250000 15.320000 0.92% 12.90%
31-Oct-2006 16.720000 15.760000 2.87% 20.58%
30-Nov-2006 17.140000 16.150000 2.47% 20.07%
29-Dec-2006 16.860000 15.690000 -2.85% 15.88%
31-Jan-2007 16.730000 15.770000 0.51% 11.29%
28-Feb-2007 16.570000 15.620000 -0.95% 9.38%
30-Mar-2007 17.010000 16.030000 2.62% 10.17%
30-Apr-2007 17.550000 16.540000 3.18% 9.83%
31-May-2007 17.810000 16.790000 1.51% 14.69%
29-Jun-2007 17.600000 16.590000 -1.19% 13.24%
31-Jul-2007 16.760000 15.800000 -4.76% 6.90%
31-Aug-2007 16.870000 15.900000 0.63% 4.74%
28-Sep-2007 17.410000 16.410000 3.21% 7.11%
31-Oct-2007 17.410000 16.830000 2.56% 6.79%
30-Nov-2007 17.410000 16.090000 -4.40% -0.37%
31-Dec-2007 17.410000 14.320000 -11.00% -8.73%
31-Jan-2008 17.410000 13.780000 -3.77% -12.62%
29-Feb-2008 17.410000 13.450000 -2.39% -13.89%
31-Mar-2008 17.410000 13.400000 -0.37% -16.41%
30-Apr-2008 17.410000 13.690000 2.16% -17.23%
30-May-2008 17.410000 13.700000 0.07% -18.40%
30-Jun-2008 17.410000 12.250000 -10.58% -26.16%
31-Jul-2008 17.410000 12.030000 -1.80% -23.86%
29-Aug-2008 17.410000 11.880000 -1.25% -25.28%
30-Sep-2008 17.410000 10.890000 -8.33% -33.64%
31-Oct-2008 17.410000 8.770000 -19.47% -47.89%
28-Nov-2008 17.410000 8.070000 -7.98% -49.84%
31-Dec-2008 17.410000 8.280000 2.60% -42.18%
30-Jan-2009 17.410000 7.310000 -11.71% -46.95%
27-Feb-2009 17.410000 6.430000 -12.04% -52.19%
31-Mar-2009 17.410000 6.970000 8.40% -47.99%
30-Apr-2009 17.410000 7.630000 9.47% -44.27%
29-May-2009 17.410000 8.350000 9.44% -39.05%
30-Jun-2009 17.410000 8.320000 -0.36% -32.08%
31-Jul-2009 9.410000 8.870000 6.61% -26.27%
31-Aug-2009 9.800000 9.200000 3.72% -22.56%
30-Sep-2009 9.800000 9.590000 4.24% -11.94%
30-Oct-2009 9.800000 9.410000 -1.88% 7.30%
30-Nov-2009 9.800000 9.830000 4.46% 21.81%
31-Dec-2009 9.800000 9.920000 0.92% 19.81%
29-Jan-2010 9.800000 9.620000 -3.02% 31.60%
26-Feb-2010 9.800000 9.710000 0.94% 51.01%
31-Mar-2010 9.800000 10.220000 5.25% 46.63%
30-Apr-2010 9.800000 10.130000 -0.88% 32.77%
28-May-2010 9.800000 9.180000 -9.38% 9.94%
30-Jun-2010 9.800000 9.010000 -1.85% 8.29%
30-Jul-2010 9.800000 9.680000 7.44% 9.13%
31-Aug-2010 9.800000 9.370000 -3.20% 1.85%
30-Sep-2010 9.800000 10.060000 7.36% 4.90%
29-Oct-2010 9.800000 10.310000 2.49% 9.56%
30-Nov-2010 9.800000 9.850000 -4.46% 0.20%
31-Dec-2010 9.800000 10.500000 6.60% 5.85%
31-Jan-2011 9.800000 10.680000 1.71% 11.02%
28-Feb-2011 9.800000 11.010000 3.09% 13.39%
31-Mar-2011 9.800000 10.830000 -1.63% 5.97%
29-Apr-2011 9.800000 11.340000 4.71% 11.94%
31-May-2011 11.880000 11.200000 -1.23% 22.00%
30-Jun-2011 11.690000 11.020000 -1.61% 22.31%
29-Jul-2011 11.270000 10.620000 -3.63% 9.71%
31-Aug-2011 10.690000 10.080000 -5.08% 7.58%
30-Sep-2011 9.910000 9.340000 -7.34% -7.16%
31-Oct-2011 10.660000 10.050000 7.60% -2.52%
30-Nov-2011 10.500000 9.900000 -1.49% 0.51%
30-Dec-2011 10.470000 9.870000 -0.30% -6.00%
31-Jan-2012 10.890000 10.260000 3.95% -3.93%
29-Feb-2012 11.330000 10.680000 4.09% -3.00%
30-Mar-2012 11.470000 10.810000 1.22% -0.18%
30-Apr-2012 11.250000 10.600000 -1.94% -6.53%
31-May-2012 10.240000 9.650000 -8.96% -13.84%
29-Jun-2012 10.850000 10.230000 6.01% -7.17%
31-Jul-2012 10.890000 10.260000 0.29% -3.39%
31-Aug-2012 11.130000 10.490000 2.24% 4.07%
28-Sep-2012 11.410000 10.750000 2.48% 15.10%
31-Oct-2012 11.340000 10.690000 -0.56% 6.37%
30-Nov-2012 11.450000 10.790000 0.94% 8.99%
31-Dec-2012 11.710000 11.040000 2.32% 11.85%
31-Jan-2013 12.310000 11.600000 5.07% 13.06%
28-Feb-2013 12.160000 11.460000 -1.21% 7.30%
28-Mar-2013 12.410000 11.700000 2.09% 8.23%
30-Apr-2013 12.790000 12.050000 2.99% 13.68%
31-May-2013 12.850000 12.110000 0.50% 25.49%
28-Jun-2013 12.510000 11.790000 -2.64% 15.25%
31-Jul-2013 12.930000 12.190000 3.39% 18.81%
30-Aug-2013 12.670000 11.940000 -2.05% 13.82%
30-Sep-2013 13.260000 12.500000 4.69% 16.28%
31-Oct-2013 13.710000 12.920000 3.36% 20.86%
29-Nov-2013 13.860000 13.060000 1.08% 21.04%
31-Dec-2013 14.090000 13.280000 1.68% 20.29%
31-Jan-2014 13.530000 12.750000 -3.99% 9.91%
28-Feb-2014 14.230000 13.410000 5.18% 17.02%
31-Mar-2014 14.410000 13.580000 1.27% 16.07%
30-Apr-2014 14.450000 13.620000 0.29% 13.03%
30-May-2014 14.640000 13.800000 1.32% 13.96%
30-Jun-2014 14.880000 14.020000 1.59% 18.91%
31-Jul-2014 14.470000 13.640000 -2.71% 11.89%
29-Aug-2014 14.760000 13.910000 1.98% 16.50%
30-Sep-2014 14.340000 13.520000 -2.80% 8.16%
31-Oct-2014 14.230000 13.410000 -0.81% 3.79%
28-Nov-2014 14.300000 13.480000 0.52% 3.22%
31-Dec-2014 13.870000 13.070000 -3.04% -1.58%
30-Jan-2015 13.380000 12.610000 -3.52% -1.10%
27-Feb-2015 14.200000 13.380000 6.11% -0.22%
31-Mar-2015 13.840000 13.040000 -2.54% -3.98%
30-Apr-2015 14.390000 13.560000 3.99% -0.44%
29-May-2015 14.360000 13.530000 -0.22% -1.96%
30-Jun-2015 14.040000 13.230000 -2.22% -5.63%
31-Jul-2015 14.060000 13.250000 0.15% -2.86%
31-Aug-2015 13.200000 12.380000 -6.57% -11.00%
30-Sep-2015 12.660000 11.930000 -3.63% -11.76%
30-Oct-2015 13.520000 12.740000 6.79% -5.00%
30-Nov-2015 13.350000 12.580000 -1.26% -6.68%
31-Dec-2015 12.930000 12.190000 -3.10% -6.73%
29-Jan-2016 12.190000 11.490000 -5.74% -8.88%
29-Feb-2016 12.140000 11.440000 -0.44% -14.50%
31-Mar-2016 12.990000 12.240000 6.99% -6.13%
29-Apr-2016 13.180000 12.420000 1.47% -8.41%
31-May-2016 13.120000 12.370000 -0.40% -8.57%
30-Jun-2016 12.800000 12.060000 -2.51% -8.84%
29-Jul-2016 13.230000 12.470000 3.40% -5.89%
31-Aug-2016 13.340000 12.570000 0.80% 1.53%
30-Sep-2016 13.380000 12.610000 0.32% 5.70%
31-Oct-2016 13.220000 12.460000 -1.19% -2.20%
30-Nov-2016 13.430000 12.660000 1.61% 0.64%
30-Dec-2016 13.730000 12.940000 2.21% 6.15%
31-Jan-2017 14.030000 13.220000 2.16% 15.06%
28-Feb-2017 14.320000 13.500000 2.12% 18.01%
31-Mar-2017 14.530000 13.690000 1.41% 11.85%
28-Apr-2017 14.540000 13.700000 0.07% 10.31%
31-May-2017 14.710000 13.860000 1.17% 12.05%
30-Jun-2017 14.820000 0.12600 13.970000 1.70% 16.88%
31-Jul-2017 15.070000 14.200000 1.65% 14.88%
31-Aug-2017 14.960000 14.100000 -0.70% 13.17%
29-Sep-2017 15.380000 0.05440 14.500000 3.22% 16.42%
31-Oct-2017 15.290000 14.410000 -0.62% 17.10%
30-Nov-2017 15.710000 14.810000 2.78% 18.41%
29-Dec-2017 15.780000 0.04070 14.870000 0.68% 16.62%
31-Jan-2018 16.440000 15.490000 4.17% 18.84%
28-Feb-2018 15.650000 14.750000 -4.78% 10.90%
29-Mar-2018 15.320000 0.04860 14.440000 -1.77% 7.45%
30-Apr-2018 15.460000 14.570000 0.90% 8.32%
31-May-2018 15.160000 14.290000 -1.92% 5.05%
29-Jun-2018 15.070000 0.11590 14.200000 0.18% 4.41%
31-Jul-2018 15.540000 14.650000 3.17% 5.00%
31-Aug-2018 15.420000 14.530000 -0.82% 4.89%
28-Sep-2018 15.630000 0.05760 14.730000 1.77% 3.77%
31-Oct-2018 14.650000 13.810000 -6.25% -2.34%
30-Nov-2018 14.760000 13.910000 0.72% -4.30%
31-Dec-2018 13.020000 0.04920 12.270000 -11.44% -15.39%
31-Jan-2019 13.850000 13.050000 6.36% -14.00%
28-Feb-2019 14.220000 13.400000 2.68% -7.31%
29-Mar-2019 14.260000 0.09636 13.440000 1.02% -4.38%
30-Apr-2019 14.740000 13.890000 3.35% -2.48%
31-May-2019 13.930000 13.130000 -5.47% -5.88%
28-Jun-2019 14.690000 0.13638 13.850000 6.52% 0.74%
31-Jul-2019 14.470000 13.640000 -1.52% -4.58%
30-Aug-2019 14.230000 13.410000 -1.69% -5.37%
30-Sep-2019 14.630000 0.09270 13.790000 3.52% -3.45%
31-Oct-2019 14.740000 13.890000 0.73% 3.29%
29-Nov-2019 14.990000 14.130000 1.73% 4.27%
31-Dec-2019 15.290000 0.05190 14.410000 2.35% 20.92%
31-Jan-2020 15.130000 14.260000 -1.04% 12.16%
28-Feb-2020 13.770000 12.980000 -8.98% -0.32%
31-Mar-2020 11.700000 0.08890 11.030000 -14.34% -14.46%
30-Apr-2020 12.660000 11.930000 8.16% -11.45%
(USD ko co AUD
Average 0.22% 3.11%

Standard Deviation 4.33% 16.53%
3-year return Annualized 3-year return 5-year return Annualized 5-year return
54.28% 15.55%
50.24% 14.53%
53.08% 15.25%
39.72% 11.79%
38.70% 11.52%
33.73% 10.17%
37.48% 11.19%
46.76% 13.64%
47.41% 13.81%
43.26% 12.73%
38.48% 11.46%
35.43% 10.64%
36.30% 10.87%
35.62% 10.69%
26.59% 8.18%
8.57% 2.78%
6.90% 2.25%
1.13% 0.37%
3.32% 1.09%
6.45% 2.11%
6.12% 2.00%
-6.49% -2.21%
-8.93% -3.07%
-10.61% -3.67%
-19.75% -7.07% 9.67% 1.86%
-32.90% -12.45% -16.40% -3.52%
-40.00% -15.66% -23.51% -5.22%
-38.85% -15.12% -26.27% -5.91%
-48.41% -19.80% -35.71% -8.46%
-54.97% -23.35% -44.95% -11.25%
-52.10% -21.75% -40.22% -9.78%
-49.34% -20.28% -32.30% -7.50%
-42.96% -17.07% -26.69% -6.02%
-43.21% -17.19% -28.15% -6.40%
-39.99% -15.65% -22.26% -4.91%
-39.39% -15.37% -21.64% -4.76%
-37.40% -14.46% -20.35% -4.45%
-40.29% -15.79% -24.17% -5.38%
-39.13% -15.25% -22.66% -5.01%
-36.78% -14.17% -24.79% -5.54%
-39.00% -15.19% -25.37% -5.68%
-37.84% -14.65% -26.99% -6.10%
-36.24% -13.93% -21.20% -4.65%
-38.75% -15.08% -21.23% -4.66%
-45.32% -18.23% -28.89% -6.59%
-45.69% -18.41% -31.22% -7.21%
-38.73% -15.07% -26.72% -6.03%
-41.07% -16.16% -29.50% -6.75%
-38.70% -15.05% -25.87% -5.81%
-38.74% -15.07% -21.12% -4.63%
-38.78% -15.09% -26.77% -6.04%
-26.68% -9.83% -22.45% -4.96%
-22.50% -8.14% -24.63% -5.50%
-18.14% -6.45% -22.90% -5.07%
-19.18% -6.85% -25.57% -5.73%
-17.17% -6.08% -24.70% -5.52%
-18.25% -6.50% -23.50% -5.22%
-10.04% -3.47% -24.78% -5.54%
-11.72% -4.07% -28.15% -6.40%
-15.15% -5.33% -33.60% -7.86%
-14.23% -4.99% -39.03% -9.42%
14.60% 4.65% -36.23% -8.61%
22.68% 7.05% -38.70% -9.32%
19.20% 6.03% -37.09% -8.85%
40.36% 11.96% -34.94% -8.24%
66.10% 18.43% -31.63% -7.32%
55.09% 15.75% -32.56% -7.58%
38.93% 11.58% -35.91% -8.51%
15.57% 4.94% -42.53% -10.49%
22.96% 7.13% -38.34% -9.22%
15.67% 4.97% -35.06% -8.27%
14.02% 4.47% -34.03% -7.98%
12.10% 3.88% -34.49% -8.11%
13.60% 4.34% -36.48% -8.68%
9.77% 3.15% -32.94% -7.68%
11.29% 3.63% -22.91% -5.07%
20.58% 6.44% -15.82% -3.39%
18.02% 5.68% -14.80% -3.15%
14.48% 4.61% -12.69% -2.68%
18.95% 5.96% -11.98% -2.52%
31.92% 9.67% -11.61% -2.44%
30.85% 9.38% -3.76% -0.76%
25.93% 7.99% 1.33% 0.26%
27.43% 8.41% 0.51% 0.10%
24.25% 7.51% 14.78% 2.80%
25.32% 7.81% 47.32% 8.06%
32.59% 9.86% 61.83% 10.11%
26.48% 8.14% 60.39% 9.91%
19.38% 6.08% 74.42% 11.77%
21.80% 6.79% 108.55% 15.84%
25.39% 7.83% 94.84% 14.27%
20.11% 6.30% 78.51% 12.29%
23.21% 7.21% 65.27% 10.57%
27.22% 8.36% 68.51% 11.00%
28.44% 8.70% 53.78% 8.99%
38.00% 11.33% 51.20% 8.62%
44.75% 13.12% 40.98% 7.11%
33.43% 10.09% 42.51% 7.34%
36.16% 10.84% 37.13% 6.52%
32.42% 9.81% 31.75% 5.67%
22.90% 7.12% 31.08% 5.56%
25.28% 7.80% 37.80% 6.62%
20.63% 6.45% 27.59% 4.99%
27.92% 8.56% 33.86% 6.01%
40.21% 11.92% 47.39% 8.07%
29.33% 8.95% 46.84% 7.99%
29.14% 8.90% 36.88% 6.48%
18.02% 5.68% 32.12% 5.73%
10.98% 3.53% 18.59% 3.47%
19.18% 6.02% 23.57% 4.32%
16.59% 5.25% 27.72% 5.01%
10.42% 3.36% 16.10% 3.03%
-0.95% -0.32% 7.58% 1.47%
-0.17% -0.06% 3.91% 0.77%
4.62% 1.52% 13.02% 2.48%
3.07% 1.01% 9.52% 1.84%
2.15% 0.71% 10.45% 2.01%
2.29% 0.76% 9.44% 1.82%
2.30% 0.76% 17.42% 3.26%
5.28% 1.73% 24.70% 4.51%
0.88% 0.29% 35.01% 6.19%
-3.56% -1.20% 23.98% 4.39%
-3.06% -1.03% 27.88% 5.04%
-2.56% -0.86% 31.10% 5.57%
3.69% 1.21% 28.85% 5.20%
0.67% 0.22% 26.40% 4.80%
0.81% 0.27% 26.64% 4.84%
0.59% 0.20% 29.25% 5.26%
0.43% 0.14% 43.63% 7.51%
0.54% 0.18% 37.79% 6.62%
5.03% 1.65% 39.63% 6.90%
2.27% 0.75% 35.61% 6.28%
8.58% 2.78% 36.56% 6.43%
8.80% 2.85% 36.49% 6.42%
11.20% 3.60% 38.93% 6.80%
15.46% 4.91% 36.69% 6.45%
24.59% 7.60% 35.44% 6.26%
11.89% 3.82% 30.64% 5.49%
12.80% 4.10% 25.72% 4.68%
9.44% 3.05% 23.15% 4.25%
7.61% 2.48% 20.23% 3.75%
10.25% 3.31% 23.71% 4.35%
13.48% 4.30% 23.34% 4.29%
20.48% 6.41% 24.92% 4.55%
27.19% 8.35% 21.39% 3.95%
11.88% 3.81% 10.32% 1.98%
14.10% 4.49% 9.90% 1.91%
4.70% 1.54% -3.90% -0.79%
17.86% 5.63% 6.21% 1.21%
21.44% 6.69% 3.60% 0.71%
14.61% 4.65% 3.30% 0.65%
16.58% 5.25% 6.31% 1.23%
10.90% 3.51% -0.59% -0.12%
20.86% 6.52% 3.96% 0.78%
15.20% 4.83% 5.32% 1.04%
12.45% 3.99% 1.62% 0.32%
15.84% 5.02% 8.05% 1.56%
18.04% 5.68% 9.68% 1.86%
18.07% 5.69% 10.89% 2.09%
18.08% 5.70% 16.91% 3.17%
14.45% 4.60% 19.98% 3.71%
2.59% 0.86% 3.51% 0.69%
-12.43% -4.33% -8.06% -1.67%
-5.92% -2.01% -4.95% -1.01%
6.59% 1.35% 5.18% 0.26%

26.51% 9.22% 32.40% 6.21%
Date Benchmark 3-year Return Annualized
30-Sep-2003 2,838.89
31-Oct-2003 2,888.99
28-Nov-2003 2,867.86
31-Dec-2003 2,935.62
30-Jan-2004 2,935.87
27-Feb-2004 2,946.06
31-Mar-2004 2,954.00
30-Apr-2004 3,078.24
28-May-2004 3,130.62
30-Jun-2004 3,271.29
30-Jul-2004 3,145.57
31-Aug-2004 3,150.43
30-Sep-2004 3,109.38
29-Oct-2004 3,095.22
30-Nov-2004 3,158.63
31-Dec-2004 3,237.29
31-Jan-2005 3,192.56
28-Feb-2005 3,222.20
31-Mar-2005 3,241.33
29-Apr-2005 3,137.13
31-May-2005 3,297.66
30-Jun-2005 3,296.96
29-Jul-2005 3,438.74
31-Aug-2005 3,472.43
30-Sep-2005 3,533.15
31-Oct-2005 3,506.39
30-Nov-2005 3,672.81
30-Dec-2005 3,779.26
31-Jan-2006 3,816.35
28-Feb-2006 3,893.81
31-Mar-2006 4,126.17
28-Apr-2006 4,018.00
31-May-2006 3,908.59
30-Jun-2006 3,960.11
31-Jul-2006 3,861.00
31-Aug-2006 3,973.14
29-Sep-2006 4,114.26 44.92% 13.17%
31-Oct-2006 4,112.63 42.36% 12.49%
30-Nov-2006 4,136.90 44.25% 12.99%
29-Dec-2006 4,217.28 43.66% 12.84%
31-Jan-2007 4,335.75 47.68% 13.88%
28-Feb-2007 4,250.79 44.29% 13.00%
30-Mar-2007 4,218.82 42.82% 12.61%
30-Apr-2007 4,287.65 39.29% 11.68%
31-May-2007 4,423.79 41.31% 12.22%
29-Jun-2007 4,280.51 30.85% 9.38%
31-Jul-2007 4,174.88 32.72% 9.90%
31-Aug-2007 4,341.12 37.79% 11.28%
28-Sep-2007 4,190.81 34.78% 10.46%
31-Oct-2007 4,111.30 32.83% 9.92%
30-Nov-2007 4,157.79 31.63% 9.59%
31-Dec-2007 4,143.04 27.98% 8.57%
31-Jan-2008 3,740.18 17.15% 5.42%
29-Feb-2008 3,577.18 11.02% 3.55%
31-Mar-2008 3,615.48 11.54% 3.71%
30-Apr-2008 3,685.55 17.48% 5.52%
30-May-2008 3,689.29 11.88% 3.81%
30-Jun-2008 3,387.61 2.75% 0.91%
31-Jul-2008 3,361.34 -2.25% -0.76%
29-Aug-2008 3,637.42 4.75% 1.56%
30-Sep-2008 3,462.68 -1.99% -0.67%
31-Oct-2008 3,337.87 -4.81% -1.63%
28-Nov-2008 3,182.83 -13.34% -4.66%
31-Dec-2008 3,041.13 -19.53% -6.99%
30-Jan-2009 3,090.63 -19.02% -6.79%
27-Feb-2009 2,753.47 -29.29% -10.91%
31-Mar-2009 2,737.74 -33.65% -12.78%
30-Apr-2009 2,905.86 -27.68% -10.24%
29-May-2009 2,868.85 -26.60% -9.80%
30-Jun-2009 2,835.73 -28.39% -10.54%
31-Jul-2009 2,971.29 -23.04% -8.36%
31-Aug-2009 3,060.16 -22.98% -8.34%
30-Sep-2009 3,041.29 -26.08% -9.58%
30-Oct-2009 2,935.02 -28.63% -10.64%
30-Nov-2009 3,001.88 -27.44% -10.14%
31-Dec-2009 3,116.41 -26.10% -9.59%
29-Jan-2010 3,030.49 -30.10% -11.25%
26-Feb-2010 3,037.84 -28.53% -10.59%
31-Mar-2010 3,149.25 -25.35% -9.29%
30-Apr-2010 3,123.11 -27.16% -10.02%
28-May-2010 3,084.19 -30.28% -11.33%
30-Jun-2010 3,001.51 -29.88% -11.16%
30-Jul-2010 3,014.75 -27.79% -10.28%
31-Aug-2010 2,945.88 -32.14% -12.12%
30-Sep-2010 2,967.04 -29.20% -10.87%
29-Oct-2010 3,025.37 -26.41% -9.72%
30-Nov-2010 3,040.13 -26.88% -9.91%
31-Dec-2010 3,062.76 -26.07% -9.58%
31-Jan-2011 3,207.39 -14.24% -4.99%
28-Feb-2011 3,247.99 -9.20% -3.17%
31-Mar-2011 3,171.13 -12.29% -4.28%
29-Apr-2011 3,113.47 -15.52% -5.47%
31-May-2011 3,133.76 -15.06% -5.29%
30-Jun-2011 3,070.10 -9.37% -3.23%
29-Jul-2011 2,940.07 -12.53% -4.37%
31-Aug-2011 2,806.22 -22.85% -8.28%
30-Sep-2011 2,840.73 -17.96% -6.39%
31-Oct-2011 2,873.64 -13.91% -4.87%
30-Nov-2011 2,874.42 -9.69% -3.34%
30-Dec-2011 2,886.87 -5.07% -1.72%
31-Jan-2012 2,920.61 -5.50% -1.87%
29-Feb-2012 3,030.44 10.06% 3.25%
30-Mar-2012 3,184.56 16.32% 5.17%
30-Apr-2012 3,123.65 7.50% 2.44%
31-May-2012 3,058.22 6.60% 2.15%
29-Jun-2012 3,055.11 7.74% 2.52%
31-Jul-2012 3,015.70 1.49% 0.50%
31-Aug-2012 3,146.08 2.81% 0.93%
28-Sep-2012 3,214.77 5.70% 1.87%
31-Oct-2012 3,194.27 8.83% 2.86%
30-Nov-2012 3,218.73 7.22% 2.35%
31-Dec-2012 3,289.69 5.56% 1.82%
31-Jan-2013 3,447.64 13.77% 4.39%
28-Feb-2013 3,524.34 16.01% 5.08%
28-Mar-2013 3,535.91 12.28% 3.94%
30-Apr-2013 3,664.13 17.32% 5.47%
31-May-2013 3,971.55 28.77% 8.79%
28-Jun-2013 4,057.71 35.19% 10.57%
31-Jul-2013 4,345.56 44.14% 12.96%
30-Aug-2013 4,293.20 45.74% 13.38%
30-Sep-2013 4,306.52 45.15% 13.22%
31-Oct-2013 4,406.04 45.64% 13.35%
29-Nov-2013 4,655.61 53.14% 15.26%
31-Dec-2013 4,859.23 58.66% 16.63%
31-Jan-2014 4,764.80 48.56% 14.10%
28-Feb-2014 4,906.32 51.06% 14.74%
31-Mar-2014 4,735.19 49.32% 14.30%
30-Apr-2014 4,772.90 53.30% 15.30%
30-May-2014 4,853.20 54.87% 15.70%
30-Jun-2014 4,876.65 58.84% 16.68%
31-Jul-2014 4,868.45 65.59% 18.31%
29-Aug-2014 4,955.47 76.59% 20.87%
30-Sep-2014 5,145.18 81.12% 21.90%
31-Oct-2014 5,149.62 79.20% 21.46%
28-Nov-2014 5,428.77 88.87% 23.61%
31-Dec-2014 5,564.20 92.74% 24.45%
30-Jan-2015 5,746.17 96.75% 25.30%
27-Feb-2015 6,049.33 99.62% 25.91%
31-Mar-2015 6,114.37 92.00% 24.29%
30-Apr-2015 6,026.38 92.93% 24.49%
29-May-2015 6,253.87 104.49% 26.93%
30-Jun-2015 6,054.53 98.18% 25.61%
31-Jul-2015 6,502.51 115.62% 29.19%
31-Aug-2015 6,236.18 98.22% 25.62%
30-Sep-2015 6,085.76 89.31% 23.71%
30-Oct-2015 6,457.59 102.16% 26.44%
30-Nov-2015 6,346.31 97.17% 25.39%
31-Dec-2015 6,192.77 88.25% 23.47%
29-Jan-2016 5,980.96 73.48% 20.16%
29-Feb-2016 5,889.87 67.12% 18.67%
31-Mar-2016 5,865.56 65.89% 18.38%
29-Apr-2016 5,999.10 63.73% 17.86%
31-May-2016 6,344.10 59.74% 16.90%
30-Jun-2016 6,086.91 50.01% 14.47%
29-Jul-2016 6,222.98 43.20% 12.72%
31-Aug-2016 6,295.27 46.63% 13.61%
30-Sep-2016 6,212.97 44.27% 12.99%
31-Oct-2016 6,128.73 39.10% 11.63%
30-Nov-2016 6,408.06 37.64% 11.24%
30-Dec-2016 6,713.24 38.15% 11.38%
31-Jan-2017 6,541.62 37.29% 11.14%
28-Feb-2017 6,658.11 35.70% 10.71%
31-Mar-2017 6,754.64 42.65% 12.57%
28-Apr-2017 6,986.52 46.38% 13.54%
31-May-2017 7,187.18 48.09% 13.98%
30-Jun-2017 6,973.58 43.00% 12.66%
31-Jul-2017 6,858.49 40.88% 12.10%
31-Aug-2017 6,916.51 39.57% 11.76%
29-Sep-2017 7,173.80 39.43% 11.72%
31-Oct-2017 7,479.36 45.24% 13.25%
30-Nov-2017 7,731.26 42.41% 12.51%
29-Dec-2017 7,599.80 36.58% 10.95%
31-Jan-2018 7,749.72 34.87% 10.48%
28-Feb-2018 7,709.10 27.44% 8.42%
29-Mar-2018 7,622.59 24.67% 7.63%
30-Apr-2018 7,860.67 30.44% 9.26%
31-May-2018 7,872.34 25.88% 7.97%
29-Jun-2018 8,043.99 32.86% 9.93%
31-Jul-2018 8,268.40 27.16% 8.34%
31-Aug-2018 8,645.46 38.63% 11.50%
28-Sep-2018 8,647.90 42.10% 12.43%
31-Oct-2018 8,188.51 26.80% 8.24%
30-Nov-2018 8,007.52 26.18% 8.06%
31-Dec-2018 7,677.85 23.98% 7.43%
31-Jan-2019 8,021.49 34.12% 10.28%
28-Feb-2019 8,469.99 43.81% 12.87%
29-Mar-2019 8,581.24 46.30% 13.52%
30-Apr-2019 8,943.52 49.08% 14.24%
31-May-2019 8,561.11 34.95% 10.51%
28-Jun-2019 9,018.63 48.16% 14.00%
31-Jul-2019 9,296.36 49.39% 14.32%
30-Aug-2019 9,252.23 46.97% 13.70%
30-Sep-2019 9,430.92 51.79% 14.93%
31-Oct-2019 9,468.91 54.50% 15.60%
29-Nov-2019 9,918.25 54.78% 15.67%
31-Dec-2019 9,841.43 46.60% 13.60%
31-Jan-2020 10,263.91 56.90% 16.20%
28-Feb-2020 9,659.09 45.07% 13.20%
31-Mar-2020 8,891.70 31.64% 9.60%
30-Apr-2020 9,294.94 33.04% 9.98%
Average 27.54% 7.43%
Rf 0.89%
CAPM 5.21%
SUMMARY OUTPUT
Multiple R 0.7589569589192
R Square 0.5760156654918
Observations 164
ANOVA
df SS MS
Regression 1 0.798588648828607 0.798588648828607
Residual 162 0.587812271616385 0.00362847081244682
Total 163 1.38640092044499
Coefficients Standard Error t Stat

Intercept -0.0356319589114 0.00575087031742762 -6.19592460699458
X Variable 1 0.6608675375202 0.044546611044619 14.8354167022552
Fund 1-year return
15.55%
14.53%
15.25%
11.79%
11.52%
10.17%
11.19%
13.64%
13.81%
12.73%
11.46%
10.64%
10.87%
10.69%
8.18%
2.78%
2.25%
0.37%
1.09%
2.11%
2.00%
-2.21%
-3.07%
-3.67%
-7.07%
-12.45%
-15.66%
-15.12%
-19.80%
-23.35%
-21.75%
-20.28%
-17.07%
-17.19%
-15.65%
-15.37%
-14.46%
-15.79%
-15.25%
-14.17%
-15.19%
-14.65%
-13.93%
-15.08%
-18.23%
-18.41%
-15.07%
-16.16%
-15.05%
-15.07%
-15.09%
-9.83%
-8.14%
-6.45%
-6.85%
-6.08%
-6.50%
-3.47%
-4.07%
-5.33%
-4.99%
4.65%
7.05%
6.03%
11.96%
18.43%
15.75%
11.58%
4.94%
7.13%
4.97%
4.47%
3.88%
4.34%
3.15%
3.63%
6.44%
5.68%
4.61%
5.96%
9.67%
9.38%
7.99%
8.41%
7.51%
7.81%
9.86%
8.14%
6.08%
6.79%
7.83%
6.30%
7.21%
8.36%
8.70%
11.33%
13.12%
10.09%
10.84%
9.81%
7.12%
7.80%
6.45%
8.56%
11.92%
8.95%
8.90%
5.68%
3.53%
6.02%
5.25%
3.36%
-0.32%
-0.06%
1.52%
1.01%
0.71%
0.76%
0.76%
1.73%
0.29%
-1.20%
-1.03%
-0.86%
1.21%
0.22%
0.27%
0.20%
0.14%
0.18%
1.65%
0.75%
2.78%
2.85%
3.60%
4.91%
7.60%
3.82%
4.10%
3.05%
2.48%
3.31%
4.30%
6.41%
8.35%
3.81%
4.49%
1.54%
5.63%
6.69%
4.65%
5.25%
3.51%
6.52%
4.83%
3.99%
5.02%
5.68%
5.69%
5.70%
4.60%
0.86%
-4.33%
-2.01%
F Significance F
220.089588729553 5.367E-32
P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%Upper 95.0%

4.60945863367954E-09 -0.046988 -0.024276 -0.046988 -0.024276 -0.01006
5.36663126141411E-32 0.572901 0.748834 0.572901 0.748834 0.858782
Dividend
Date Offer Bid s NAV Monthly Return 1-year return
30-Jun-2003 1.002200 0.984300 0.993250
31-Jul-2003 1.094200 1.074600 1.084400 9.18%
29-Aug-2003 1.148900 1.128400 1.138650 5.00%
30-Sep-2003 1.129400 1.109200 1.119300 -1.70%
31-Oct-2003 1.167600 1.146800 1.157200 3.39%
28-Nov-2003 1.132800 1.112600 1.122700 -2.98%
31-Dec-2003 1.186800 1.165600 1.176200 4.77%
30-Jan-2004 1.190100 1.168800 1.179450 0.28%
27-Feb-2004 1.209700 1.188100 1.198900 1.65%
31-Mar-2004 1.243800 1.221600 1.232700 2.82%
30-Apr-2004 1.219200 1.197400 1.208300 -1.98%
31-May-2004 1.202800 1.190800 1.196800 -0.95%
30-Jun-2004 1.185600 1.173300 1.179450 -1.45% 18.75%
30-Jul-2004 1.158700 1.147200 1.152950 -2.25% 6.32%
31-Aug-2004 1.187400 1.175600 1.181500 2.48% 3.76%
30-Sep-2004 1.214100 1.202100 1.208100 2.25% 7.93%
29-Oct-2004 1.199200 1.187300 1.193250 -1.23% 3.12%
30-Nov-2004 1.245900 1.233500 1.239700 3.89% 10.42%
31-Dec-2004 1.287900 1.275100 1.281500 3.37% 8.95%
31-Jan-2005 1.300700 1.287800 1.294250 0.99% 9.73%
28-Feb-2005 1.361200 1.347700 1.354450 4.65% 12.97%
31-Mar-2005 1.320200 1.307100 1.313650 -3.01% 6.57%
29-Apr-2005 1.290700 1.277900 1.284300 -2.23% 6.29%
31-May-2005 1.367900 1.354300 1.361100 5.98% 13.73%
30-Jun-2005 1.336400 1.322400 1.329400 -2.33% 12.71%
29-Jul-2005 1.419000 1.404900 1.411950 6.21% 22.46%
31-Aug-2005 1.448800 1.434400 1.441600 2.10% 22.01%
30-Sep-2005 1.540800 1.525500 1.533150 6.35% 26.91%
31-Oct-2005 1.504800 1.489900 1.497350 -2.34% 25.49%
30-Nov-2005 1.588300 1.572500 1.580400 5.55% 27.48%
30-Dec-2005 1.656600 1.640200 1.648400 4.30% 28.63%
31-Jan-2006 1.776500 1.758900 1.767700 7.24% 36.58%
28-Feb-2006 1.784800 1.767000 1.775900 0.46% 31.12%
31-Mar-2006 1.907600 1.888600 1.898100 6.88% 44.49%
28-Apr-2006 1.877600 1.858900 1.868250 -1.57% 45.47%
31-May-2006 1.726100 1.708900 1.717500 -8.07% 26.18%
30-Jun-2006 1.502300 1.484900 1.493600 -13.04% 12.35%
31-Jul-2006 1.488300 1.473500 1.480900 -0.85% 4.88%
31-Aug-2006 1.539600 1.524300 1.531950 3.45% 6.27%
29-Sep-2006 1.587900 1.572100 1.580000 3.14% 3.06%
31-Oct-2006 1.616500 1.600400 1.608450 1.80% 7.42%
30-Nov-2006 1.719100 1.702000 1.710550 6.35% 8.24%
29-Dec-2006 1.760000 1.742500 1.751250 2.38% 6.24%
31-Jan-2007 1.797600 1.779700 1.788650 2.14% 1.19%
28-Feb-2007 1.757800 1.740300 1.749050 -2.21% -1.51%
30-Mar-2007 1.729700 1.712500 1.721100 -1.60% -9.33%
30-Apr-2007 1.769500 1.751900 1.760700 2.30% -5.76%
31-May-2007 1.862500 1.843900 1.853200 5.25% 7.90%
29-Jun-2007 1.875800 1.857100 1.866450 0.71% 24.96%
31-Jul-2007 1.614900 1.598800 1.606850 -13.91% 8.50%
31-Aug-2007 1.635300 1.619000 1.627150 1.26% 6.21%
28-Sep-2007 1.622700 1.606600 1.614650 -0.77% 2.19%
31-Oct-2007 1.656600 1.640100 1.648350 2.09% 2.48%
30-Nov-2007 1.655300 1.638800 1.647050 -0.08% -3.71%
31-Dec-2007 1.666200 1.649600 1.657900 0.66% -5.33%
31-Jan-2008 1.536500 1.521200 1.528850 -7.78% -14.52%
29-Feb-2008 1.513500 1.498400 1.505950 -1.50% -13.90%
31-Mar-2008 1.502400 1.487400 1.494900 -0.73% -13.14%
30-Apr-2008 1.502000 1.487000 1.494500 -0.03% -15.12%
30-May-2008 1.490300 1.475400 1.482850 -0.78% -19.98%
30-Jun-2008 1.243000 1.229300 1.236150 -16.64% -33.77%
31-Jul-2008 1.235800 1.223500 1.229650 -0.53% -23.47%
29-Aug-2008 1.284700 1.271900 1.278300 3.96% -21.44%
30-Sep-2008 1.215800 1.203700 1.209750 -5.36% -25.08%
31-Oct-2008 1.130200 1.119000 1.124600 -7.04% -31.77%
28-Nov-2008 1.089100 1.078300 1.083700 -3.64% -34.20%
31-Dec-2008 1.050100 1.039700 1.044900 -3.58% -36.97%
30-Jan-2009 1.100300 1.089300 1.094800 4.78% -28.39%
27-Feb-2009 1.058500 1.047900 1.053200 -3.80% -30.06%
31-Mar-2009 1.078000 1.067200 1.072600 1.84% -28.25%
30-Apr-2009 1.154100 1.142700 1.148400 7.07% -23.16%
29-May-2009 1.227600 1.215400 1.221500 6.37% -17.62%
30-Jun-2009 1.228000 1.215800 1.221900 0.03% -1.15%
31-Jul-2009 1.306400 1.293400 1.299900 6.38% 5.71%
31-Aug-2009 1.304100 1.291100 1.297600 -0.18% 1.51%
30-Sep-2009 1.350000 1.336600 1.343300 3.52% 11.04%
30-Oct-2009 1.288500 1.275700 1.282100 -4.56% 14.00%
30-Nov-2009 1.313900 1.300800 1.307350 1.97% 20.64%
31-Dec-2009 1.390700 1.376800 1.383750 5.84% 32.43%
29-Jan-2010 1.330300 1.317100 1.323700 -4.34% 20.91%
26-Feb-2010 1.325600 1.312500 1.319050 -0.35% 25.24%
31-Mar-2010 1.381800 1.368100 1.374950 4.24% 28.19%
30-Apr-2010 1.402400 1.388400 1.395400 1.49% 21.51%
31-May-2010 1.424700 1.410500 1.417600 1.59% 16.05%
30-Jun-2010 1.427600 1.413200 1.420400 0.20% 16.25%
30-Jul-2010 1.437400 1.423100 1.430250 0.69% 10.03%
31-Aug-2010 1.467700 1.453100 1.460400 2.11% 12.55%
30-Sep-2010 1.482200 1.467400 1.474800 0.99% 9.79%
29-Oct-2010 1.479800 1.465100 1.472450 -0.16% 14.85%
30-Nov-2010 1.498400 1.483500 1.490950 1.26% 14.04%
31-Dec-2010 1.479900 1.465100 1.472500 -1.24% 6.41%
31-Jan-2011 1.452800 1.438400 1.445600 -1.83% 9.21%
28-Feb-2011 1.399800 1.385900 1.392850 -3.65% 5.59%
31-Mar-2011 1.442600 1.428200 1.435400 3.05% 4.40%
29-Apr-2011 1.425700 1.414400 1.420050 -1.07% 1.77%
31-May-2011 1.433600 1.422200 1.427900 0.55% 0.73%
30-Jun-2011 1.357600 1.346200 1.351900 -5.32% -4.82%
29-Jul-2011 1.343100 1.332400 1.337750 -1.05% -6.47%
31-Aug-2011 1.314800 1.304300 1.309550 -2.11% -10.33%
30-Sep-2011 1.312500 1.302100 1.307300 -0.17% -11.36%
31-Oct-2011 1.298400 1.288000 1.293200 -1.08% -12.17%
30-Nov-2011 1.306200 1.295800 1.301000 0.60% -12.74%
30-Dec-2011 1.292200 1.281900 1.287050 -1.07% -12.59%
31-Jan-2012 1.309400 1.298900 1.304150 1.33% -9.78%
29-Feb-2012 1.363100 1.352300 1.357700 4.11% -2.52%
30-Mar-2012 1.415300 1.404000 1.409650 3.83% -1.79%
30-Apr-2012 1.424600 1.413300 1.418950 0.66% -0.08%
31-May-2012 1.390200 1.380500 1.385350 -2.37% -2.98%
29-Jun-2012 1.391400 1.381700 1.386550 0.09% 2.56%
31-Jul-2012 1.366200 1.356700 1.361450 -1.81% 1.77%
31-Aug-2012 1.409500 1.399600 1.404550 3.17% 7.25%
28-Sep-2012 1.479300 1.468900 1.474100 4.95% 12.76%
31-Oct-2012 1.474800 1.464500 1.469650 -0.30% 13.64%
30-Nov-2012 1.479300 1.469000 1.474150 0.31% 13.31%
31-Dec-2012 1.522000 1.511300 1.516650 2.88% 17.84%
31-Jan-2013 1.526000 1.515400 1.520700 0.27% 16.60%
28-Feb-2013 1.556000 1.545200 1.550600 1.97% 14.21%
29-Mar-2013 1.524600 1.513900 1.519250 -2.02% 7.77%
30-Apr-2013 1.550600 1.539800 1.545200 1.71% 8.90%
31-May-2013 1.635700 1.624300 1.630000 5.49% 17.66%
28-Jun-2013 1.651300 1.639700 1.645500 0.95% 18.68%
31-Jul-2013 1.626200 1.614900 1.620550 -1.52% 19.03%
30-Aug-2013 1.585900 1.574800 1.580350 -2.48% 12.52%
30-Sep-2013 1.600700 1.589500 1.595100 0.93% 8.21%
31-Oct-2013 1.632700 1.621400 1.627050 2.00% 10.71%
29-Nov-2013 1.652700 1.641200 1.646950 1.22% 11.72%
31-Dec-2013 1.647100 1.635600 1.641350 -0.34% 8.22%
31-Jan-2014 1.579100 1.568100 1.573600 -4.13% 3.48%
28-Feb-2014 1.583300 1.572200 1.577750 0.26% 1.75%
31-Mar-2014 1.603300 1.592100 1.597700 1.26% 5.16%
30-Apr-2014 1.641900 1.630500 1.636200 2.41% 5.89%
30-May-2014 1.671700 1.660000 1.665850 1.81% 2.20%
30-Jun-2014 1.554200 1.542500 1.548350 -7.05% -5.90%
31-Jul-2014 1.590600 1.579500 1.585050 2.37% -2.19%
29-Aug-2014 1.621400 1.610100 1.615750 1.94% 2.24%
30-Sep-2014 1.655800 1.644300 1.650050 2.12% 3.44%
31-Oct-2014 1.649700 1.638200 1.643950 -0.37% 1.04%
28-Nov-2014 1.720400 1.708400 1.714400 4.29% 4.10%
31-Dec-2014 1.668300 1.656600 1.662450 -3.03% 1.29%
30-Jan-2015 1.800500 1.788000 1.794250 7.93% 14.02%
27-Feb-2015 1.806300 1.793700 1.800000 0.32% 14.09%
31-Mar-2015 1.796100 1.783600 1.789850 -0.56% 12.03%
30-Apr-2015 1.793200 1.780700 1.786950 -0.16% 9.21%
29-May-2015 1.803300 1.790700 1.797000 0.56% 7.87%
30-Jun-2015 1.646100 1.634100 1.640100 -8.73% 5.93%
31-Jul-2015 1.682800 1.671000 1.676900 2.24% 5.79%
31-Aug-2015 1.631400 1.620000 1.625700 -3.05% 0.62%
30-Sep-2015 1.636400 1.624900 1.630650 0.30% -1.18%
30-Oct-2015 1.687100 1.675400 1.681250 3.10% 2.27%
30-Nov-2015 1.589800 1.578700 1.584250 -5.77% -7.59%
31-Dec-2015 1.524300 1.513700 1.519000 -4.12% -8.63%
29-Jan-2016 1.437500 1.427500 1.432500 -5.69% -20.16%
29-Feb-2016 1.414800 1.404900 1.409850 -1.58% -21.68%
31-Mar-2016 1.452500 1.442300 1.447400 2.66% -19.13%
29-Apr-2016 1.498400 1.487900 1.493150 3.16% -16.44%
31-May-2016 1.535400 1.526200 1.530800 2.52% -14.81%
30-Jun-2016 1.538200 1.528900 1.533550 0.18% -6.50%
29-Jul-2016 1.555100 1.545800 1.550450 1.10% -7.54%
31-Aug-2016 1.559500 1.550200 1.554850 0.28% -4.36%
30-Sep-2016 1.541300 1.532100 1.536700 -1.17% -5.76%
31-Oct-2016 1.540200 1.531000 1.535600 -0.07% -8.66%
30-Nov-2016 1.485700 1.476800 1.481250 -3.54% -6.50%
30-Dec-2016 1.525900 1.516700 1.521300 2.70% 0.15%
31-Jan-2017 1.514500 1.505400 1.509950 -0.75% 5.41%
28-Feb-2017 1.554300 1.545000 1.549650 2.63% 9.92%
31-Mar-2017 1.607400 1.597800 1.602600 3.42% 10.72%
28-Apr-2017 1.659200 1.649300 1.654300 3.23% 10.79%
31-May-2017 1.695400 1.686900 1.691200 2.23% 10.48%
30-Jun-2017 1.516200 1.508400 0.11110 1.516200 -3.78% 6.11%
31-Jul-2017 1.507300 1.499800 1.503500 -0.84% 4.14%
31-Aug-2017 1.498900 1.491400 0.05500 1.495100 3.10% 6.84%
29-Sep-2017 1.485000 1.477600 1.481300 -0.92% 7.20%
31-Oct-2017 1.537500 1.529800 1.533700 3.54% 10.69%
30-Nov-2017 1.567600 1.559800 1.563700 1.96% 16.78%
29-Dec-2017 1.602600 1.594600 0.00000 1.598600 2.23% 16.00%
31-Jan-2018 1.623200 1.615100 1.619200 1.29% 18.24%
28-Feb-2018 1.620500 1.612400 1.616500 -0.17% 15.03%
30-Mar-2018 1.619800 1.611700 1.615800 -0.04% 11.19%
30-Apr-2018 1.664600 1.656200 1.660400 2.76% 10.41%
31-May-2018 1.594700 1.586800 1.590700 -4.20% 3.88%
29-Jun-2018 1.466800 1.459100 0.14060 1.466800 1.05% 16.97%
31-Jul-2018 1.500300 1.492900 1.496600 2.03% 12.55%
31-Aug-2018 1.506400 1.498900 1.502700 0.41% 13.59%
28-Sep-2018 1.501400 1.493900 1.497700 -0.33% 10.60%
31-Oct-2018 1.461900 1.454600 0.10500 1.458200 4.37% 11.09%
30-Nov-2018 1.359100 1.352300 1.355700 -7.03% 2.40%
31-Dec-2018 1.401800 1.394800 1.398300 3.14% 2.83%
31-Jan-2019 1.428600 1.421500 1.425100 1.92% 3.18%
28-Feb-2019 1.453800 1.446600 1.450200 1.76% 4.91%
29-Mar-2019 1.456000 1.448700 1.452400 0.15% 5.09%
30-Apr-2019 1.489300 1.481900 1.485600 2.29% 4.26%
31-May-2019 1.490500 1.483100 1.486800 0.08% 8.91%
28-Jun-2019 1.439400 1.432000 0.07830 1.435600 1.82% 19.96%
31-Jul-2019 1.430400 1.423200 1.426800 -0.61% 7.58%
30-Aug-2019 1.408100 1.401100 1.404600 -1.56% 5.67%
30-Sep-2019 1.316500 1.309900 0.08700 1.313200 -0.31% 5.73%
31-Oct-2019 1.302100 1.295600 1.298900 -1.09% 7.61%
29-Nov-2019 1.315500 1.308900 0.00000 1.312200 1.02% 8.98%
31-Dec-2019 1.302800 1.296300 1.299600 -0.96% 4.76%
31-Jan-2020 1.320900 1.314300 1.317600 1.39% 4.06%
28-Feb-2020 1.241000 1.234800 1.237900 -6.05% -3.24%
31-Mar-2020 1.058500 1.053100 0.04000 1.055800 -11.48% -13.17%
30-Apr-2020 1.077300 1.072000 1.074700 1.79% -13.84%
Average 0.32% 4.24%

Standard Deviation 3.75% 14.14%
3-year return Annualized 3-year return 5-year return Annualized 5-year return
50.38% 14.57%
36.56% 10.95%
34.54% 10.40%
41.16% 12.18%
38.99% 11.60%
52.36% 15.07%
48.89% 14.19%
51.65% 14.89%
45.89% 13.42%
39.62% 11.77%
45.72% 13.37%
54.85% 15.69%
58.25% 16.53%
39.37% 11.70%
37.72% 11.26%
33.65% 10.15%
38.14% 11.37%
32.86% 9.93%
29.37% 8.96%
18.13% 5.71%
11.19% 3.60%
13.80% 4.40%
16.37% 5.18%
8.94% 2.90%
-7.01% -2.40% 24.46% 4.47%
-12.91% -4.50% 13.39% 2.55%
-11.33% -3.93% 12.26% 2.34%
-21.09% -7.59% 8.08% 1.57%
-24.89% -9.10% -2.82% -0.57%
-31.43% -11.82% -3.47% -0.70%
-36.61% -14.10% -11.16% -2.34%
-38.07% -14.76% -7.18% -1.48%
-40.69% -15.98% -12.15% -2.56%
-43.49% -17.33% -12.99% -2.74%
-38.53% -14.97% -4.96% -1.01%
-28.88% -10.74% 2.06% 0.41%
-18.19% -6.47% 3.60% 0.71%
-12.22% -4.25% 12.75% 2.43%
-15.30% -5.38% 9.83% 1.89%
-14.98% -5.27% 11.19% 2.14%
-20.29% -7.28% 7.45% 1.45%
-23.57% -8.57% 5.46% 1.07%
-20.99% -7.55% 7.98% 1.55%
-25.99% -9.55% 2.28% 0.45%
-24.58% -8.98% -2.61% -0.53%
-20.11% -7.21% 4.67% 0.92%
-20.75% -7.46% 8.65% 1.67%
-23.51% -8.54% 4.15% 0.82%
-23.90% -8.70% 6.85% 1.33%
-10.99% -3.81% 1.30% 0.26%
-10.25% -3.54% 1.30% 0.26%
-8.66% -2.97% -3.81% -0.77%
-10.67% -3.69% -1.66% -0.33%
-9.48% -3.26% -5.66% -1.16%
-11.18% -3.88% -10.67% -2.23%
-5.45% -1.85% -18.22% -3.94%
-7.51% -2.57% -21.57% -4.74%
-3.98% -1.34% -24.38% -5.43%
-4.98% -1.69% -23.99% -5.34%
-3.71% -1.25% -16.86% -3.63%
9.36% 3.03% -9.49% -1.97%
8.79% 2.85% -9.67% -2.01%
2.44% 0.81% -14.52% -3.09%
8.06% 2.62% -17.26% -3.72%
14.99% 4.77% -19.60% -4.27%
20.05% 6.28% -23.94% -5.33%
23.17% 7.19% -26.51% -5.97%
19.12% 6.01% -27.09% -6.12%
28.91% 8.83% -22.38% -4.94%
31.42% 9.54% -18.10% -3.91%
23.56% 7.31% -19.41% -4.22%
13.41% 4.29% -25.25% -5.65%
13.47% 4.30% -25.71% -5.77%
4.73% 1.55% -15.27% -3.26%
8.24% 2.68% -13.68% -2.90%
9.74% 3.15% -8.70% -1.80%
14.63% 4.66% -10.84% -2.27%
12.76% 4.08% -10.50% -2.19%
9.60% 3.10% -8.52% -1.77%
14.88% 4.73% -0.53% -0.11%
17.55% 5.54% 2.96% 0.59%
10.49% 3.38% 1.63% 0.32%
10.74% 3.46% 3.39% 0.67%
14.98% 4.76% 9.92% 1.91%
15.85% 5.03% 33.11% 5.89%
13.31% 4.25% 31.79% 5.68%
8.21% 2.67% 23.63% 4.33%
8.16% 2.65% 31.85% 5.69%
10.50% 3.38% 44.68% 7.67%
10.46% 3.37% 51.97% 8.73%
11.47% 3.68% 57.08% 9.45%
8.85% 2.87% 43.73% 7.53%
13.27% 4.24% 49.81% 8.42%
11.31% 3.64% 48.96% 8.30%
15.22% 4.84% 42.48% 7.34%
16.66% 5.27% 36.38% 6.40%
14.53% 4.63% 26.72% 4.85%
18.49% 5.82% 21.94% 4.05%
23.38% 7.25% 24.52% 4.48%
26.22% 8.07% 22.84% 4.20%
27.12% 8.33% 28.22% 5.10%
31.78% 9.63% 31.14% 5.57%
29.17% 8.91% 20.14% 3.74%
37.58% 11.22% 35.55% 6.27%
32.58% 9.86% 36.46% 6.41%
26.97% 8.29% 30.18% 5.42%
25.93% 7.99% 28.06% 5.07%
29.71% 9.06% 26.76% 4.86%
18.29% 5.76% 15.47% 2.92%
23.17% 7.19% 17.25% 3.23%
15.75% 4.99% 11.32% 2.17%
10.62% 3.42% 10.57% 2.03%
14.40% 4.59% 14.18% 2.69%
7.47% 2.43% 6.26% 1.22%
0.15% 0.05% 3.16% 0.62%
-5.80% -1.97% -0.91% -0.18%
-9.08% -3.12% 1.22% 0.24%
-4.73% -1.60% 0.84% 0.17%
-3.37% -1.14% 5.15% 1.01%
-6.09% -2.07% 7.21% 1.40%
-6.80% -2.32% 13.44% 2.55%
-4.33% -1.46% 15.90% 3.00%
-1.61% -0.54% 18.73% 3.49%
-3.66% -1.24% 17.55% 3.29%
-5.62% -1.91% 18.74% 3.50%
-10.06% -3.47% 13.85% 2.63%
-7.31% -2.50% 18.20% 3.40%
-4.04% -1.37% 15.78% 2.97%
-1.78% -0.60% 14.14% 2.68%
0.31% 0.10% 13.69% 2.60%
1.11% 0.37% 16.59% 3.12%
1.52% 0.50% 22.08% 4.07%
5.10% 1.67% 17.36% 3.25%
1.86% 0.62% 18.59% 3.47%
2.81% 0.93% 18.27% 3.41%
-0.16% -0.05% 11.76% 2.25%
3.40% 1.12% 15.66% 2.95%
0.90% 0.30% 17.34% 3.25%
6.15% 2.01% 16.36% 3.08%
-0.50% -0.17% 17.40% 3.26%
-0.97% -0.32% 14.96% 2.83%
-0.44% -0.15% 17.29% 3.24%
2.21% 0.73% 18.20% 3.40%
-2.24% -0.75% 7.78% 1.51%
8.13% 2.64% 7.78% 1.51%
7.54% 2.45% 11.28% 2.16%
11.30% 3.63% 14.49% 2.74%
10.66% 3.43% 13.12% 2.50%
11.22% 3.61% 14.93% 2.82%
11.56% 3.71% 7.31% 1.42%
19.16% 6.02% 10.28% 1.98%
28.22% 8.64% 16.73% 3.14%
32.06% 9.71% 18.01% 3.37%
28.79% 8.80% 16.67% 3.13%
27.07% 8.31% 15.96% 3.01%
24.02% 7.44% 13.97% 2.65%
25.56% 7.88% 24.36% 4.46%
23.63% 7.33% 20.93% 3.87%
21.85% 6.81% 17.26% 3.24%
23.00% 7.15% 14.55% 2.75%
22.16% 6.90% 14.11% 2.67%
27.54% 8.45% 10.20% 1.96%
23.36% 7.25% 12.88% 2.45%
25.47% 7.86% 5.59% 1.09%
17.12% 5.41% 0.83% 0.17%
4.38% 1.44% -6.54% -1.34%
2.26% 0.75% -5.33% -1.09%
8.84% 2.44% 8.62% 1.45%

20.56% 6.69% 17.53% 3.34%
Date Benchmark 3-year Return Annualized Fund 3-year return
30-Jun-2003 725.27
31-Jul-2003 800.65
29-Aug-2003 855.58
30-Sep-2003 820.17
31-Oct-2003 855.02
28-Nov-2003 846.4
31-Dec-2003 874.42
30-Jan-2004 891.25
27-Feb-2004 920.19
31-Mar-2004 940.77
30-Apr-2004 919.01
31-May-2004 907.96
30-Jun-2004 933.92
30-Jul-2004 911.93
31-Aug-2004 947.4
30-Sep-2004 970.7
29-Oct-2004 965.8
30-Nov-2004 1,023.13
31-Dec-2004 1,058.67
31-Jan-2005 1,071.47
28-Feb-2005 1,140.26
31-Mar-2005 1,092.58
29-Apr-2005 1,052.29
31-May-2005 1,125.09
30-Jun-2005 1,153.70
29-Jul-2005 1,244.96
31-Aug-2005 1,258.99
30-Sep-2005 1,365.00
31-Oct-2005 1,297.64
30-Nov-2005 1,424.31
30-Dec-2005 1,518.76
31-Jan-2006 1,632.99
28-Feb-2006 1,667.02
31-Mar-2006 1,743.98
28-Apr-2006 1,765.84
31-May-2006 1,592.54
30-Jun-2006 1,610.59 122.07% 30.47% 14.57%
31-Jul-2006 1,583.49 97.78% 25.52% 10.95%
31-Aug-2006 1,629.51 90.46% 23.96% 10.40%
29-Sep-2006 1,681.52 105.02% 27.04% 12.18%
31-Oct-2006 1,698.45 98.64% 25.71% 11.60%
30-Nov-2006 1,791.83 111.70% 28.40% 15.07%
29-Dec-2006 1,871.03 113.97% 28.86% 14.19%
31-Jan-2007 1,881.94 111.16% 28.29% 14.89%
28-Feb-2007 1,843.97 100.39% 26.07% 13.42%
30-Mar-2007 1,869.20 98.69% 25.72% 11.77%
30-Apr-2007 1,906.03 107.40% 27.53% 13.37%
31-May-2007 2,006.38 120.98% 30.25% 15.69%
29-Jun-2007 2,049.03 119.40% 29.94% 16.53%
31-Jul-2007 2,152.62 136.05% 33.15% 11.70%
31-Aug-2007 2,193.16 131.49% 32.29% 11.26%
28-Sep-2007 2,244.48 131.22% 32.23% 10.15%
31-Oct-2007 2,374.79 145.89% 34.97% 11.37%
30-Nov-2007 2,326.61 127.40% 31.50% 9.93%
31-Dec-2007 2,357.09 122.65% 30.58% 8.96%
31-Jan-2008 2,017.11 88.26% 23.48% 5.71%
29-Feb-2008 2,084.37 82.80% 22.27% 3.60%
31-Mar-2008 2,014.70 84.40% 22.63% 4.40%
30-Apr-2008 2,109.86 100.50% 26.10% 5.18%
30-May-2008 2,119.47 88.38% 23.50% 2.90%
30-Jun-2008 1,904.15 65.05% 18.18% -2.40%
31-Jul-2008 1,865.18 49.82% 14.43% -4.50%
29-Aug-2008 1,884.29 49.67% 14.39% -3.93%
30-Sep-2008 1,679.85 23.07% 7.16% -7.59%
31-Oct-2008 1,451.59 11.86% 3.81% -9.10%
28-Nov-2008 1,368.66 -3.91% -1.32% -11.82%
31-Dec-2008 1,366.25 -10.04% -3.47% -14.10%
30-Jan-2009 1,424.14 -12.79% -4.46% -14.76%
27-Feb-2009 1,333.96 -19.98% -7.16% -15.98%
31-Mar-2009 1,410.75 -19.11% -6.82% -17.33%
30-Apr-2009 1,570.60 -11.06% -3.83% -14.97%
29-May-2009 1,665.54 4.58% 1.51% -10.74%
30-Jun-2009 1,631.82 1.32% 0.44% -6.47%
31-Jul-2009 1,754.70 10.81% 3.48% -4.25%
31-Aug-2009 1,729.83 6.16% 2.01% -5.38%
30-Sep-2009 1,803.61 7.26% 2.36% -5.27%
30-Oct-2009 1,774.47 4.48% 1.47% -7.28%
30-Nov-2009 1,818.63 1.50% 0.50% -8.57%
31-Dec-2009 1,928.18 3.05% 1.01% -7.55%
29-Jan-2010 1,847.10 -1.85% -0.62% -9.55%
26-Feb-2010 1,832.65 -0.61% -0.21% -8.98%
31-Mar-2010 1,933.64 3.45% 1.14% -7.21%
30-Apr-2010 1,940.98 1.83% 0.61% -7.46%
31-May-2010 1,934.30 -3.59% -1.21% -8.54%
30-Jun-2010 1,935.30 -5.55% -1.89% -8.70%
30-Jul-2010 1,949.07 -9.46% -3.26% -3.81%
31-Aug-2010 1,940.65 -11.51% -4.00% -3.54%
30-Sep-2010 1,986.81 -11.48% -3.98% -2.97%
29-Oct-2010 2,009.95 -15.36% -5.41% -3.69%
30-Nov-2010 2,009.92 -13.61% -4.76% -3.26%
31-Dec-2010 2,021.01 -14.26% -5.00% -3.88%
31-Jan-2011 2,013.93 -0.16% -0.05% -1.85%
28-Feb-2011 1,952.34 -6.33% -2.16% -2.57%
31-Mar-2011 2,038.62 1.19% 0.39% -1.34%
29-Apr-2011 1,979.97 -6.16% -2.10% -1.69%
31-May-2011 1,982.52 -6.46% -2.20% -1.25%
30-Jun-2011 1,943.94 2.09% 0.69% 3.03%
29-Jul-2011 1,888.85 1.27% 0.42% 2.85%
31-Aug-2011 1,766.90 -6.23% -2.12% 0.81%
30-Sep-2011 1,672.62 -0.43% -0.14% 2.62%
31-Oct-2011 1,735.66 19.57% 6.14% 4.77%
30-Nov-2011 1,662.02 21.43% 6.69% 6.28%
30-Dec-2011 1,650.18 20.78% 6.50% 7.19%
31-Jan-2012 1,770.31 24.31% 7.52% 6.01%
29-Feb-2012 1,856.56 39.18% 11.65% 8.83%
30-Mar-2012 1,862.34 32.01% 9.70% 9.54%
30-Apr-2012 1,825.93 16.26% 5.15% 7.31%
31-May-2012 1,738.18 4.36% 1.43% 4.29%
29-Jun-2012 1,716.77 5.21% 1.71% 4.30%
31-Jul-2012 1,706.95 -2.72% -0.92% 1.55%
31-Aug-2012 1,731.70 0.11% 0.04% 2.68%
28-Sep-2012 1,826.46 1.27% 0.42% 3.15%
31-Oct-2012 1,816.26 2.36% 0.78% 4.66%
30-Nov-2012 1,830.11 0.63% 0.21% 4.08%
31-Dec-2012 1,925.92 -0.12% -0.04% 3.10%
31-Jan-2013 1,947.33 5.43% 1.78% 4.73%
28-Feb-2013 1,962.69 7.10% 2.31% 5.54%
29-Mar-2013 1,891.34 -2.19% -0.73% 3.38%
30-Apr-2013 1,915.15 -1.33% -0.45% 3.46%
31-May-2013 2,022.80 4.58% 1.50% 4.76%
28-Jun-2013 1,985.00 2.57% 0.85% 5.03%
31-Jul-2013 2,041.69 4.75% 1.56% 4.25%
30-Aug-2013 2,026.37 4.42% 1.45% 2.67%
30-Sep-2013 2,062.34 3.80% 1.25% 2.65%
31-Oct-2013 2,129.48 5.95% 1.94% 3.38%
29-Nov-2013 2,178.65 8.39% 2.72% 3.37%
31-Dec-2013 2,194.80 8.60% 2.79% 3.68%
31-Jan-2014 2,090.30 3.79% 1.25% 2.87%
28-Feb-2014 2,118.10 8.49% 2.75% 4.24%
31-Mar-2014 2,104.38 3.23% 1.06% 3.64%
30-Apr-2014 2,107.45 6.44% 2.10% 4.84%
30-May-2014 2,175.39 9.73% 3.14% 5.27%
30-Jun-2014 2,205.51 13.46% 4.30% 4.63%
31-Jul-2014 2,282.64 20.85% 6.52% 5.82%
29-Aug-2014 2,325.49 31.61% 9.59% 7.25%
30-Sep-2014 2,298.40 37.41% 11.18% 8.07%
31-Oct-2014 2,312.81 33.25% 10.04% 8.33%
28-Nov-2014 2,365.14 42.31% 12.48% 9.63%
31-Dec-2014 2,351.48 42.50% 12.53% 8.91%
30-Jan-2015 2,488.22 40.55% 12.02% 11.22%
27-Feb-2015 2,551.45 37.43% 11.18% 9.86%
31-Mar-2015 2,583.15 38.70% 11.52% 8.29%
30-Apr-2015 2,679.60 46.75% 13.64% 7.99%
29-May-2015 2,660.76 53.08% 15.25% 9.06%
30-Jun-2015 2,570.80 49.75% 14.41% 5.76%
31-Jul-2015 2,525.97 47.98% 13.96% 7.19%
31-Aug-2015 2,360.45 36.31% 10.88% 4.99%
30-Sep-2015 2,320.63 27.06% 8.31% 3.42%
30-Oct-2015 2,444.53 34.59% 10.41% 4.59%
30-Nov-2015 2,320.40 26.79% 8.23% 2.43%
31-Dec-2015 2,254.71 17.07% 5.39% 0.05%
29-Jan-2016 2,166.03 11.23% 3.61% -1.97%
29-Feb-2016 2,145.74 9.33% 3.02% -3.12%
31-Mar-2016 2,266.39 19.83% 6.22% -1.60%
29-Apr-2016 2,294.75 19.82% 6.21% -1.14%
31-May-2016 2,323.62 14.87% 4.73% -2.07%
30-Jun-2016 2,347.00 18.24% 5.74% -2.32%
29-Jul-2016 2,419.39 18.50% 5.82% -1.46%
31-Aug-2016 2,507.06 23.72% 7.35% -0.54%
30-Sep-2016 2,493.58 20.91% 6.53% -1.24%
31-Oct-2016 2,514.52 18.08% 5.70% -1.91%
30-Nov-2016 2,472.70 13.50% 4.31% -3.47%
30-Dec-2016 2,537.27 15.60% 4.95% -2.50%
31-Jan-2017 2,546.37 21.82% 6.80% -1.37%
28-Feb-2017 2,599.13 22.71% 7.06% -0.60%
31-Mar-2017 2,675.54 27.14% 8.33% 0.10%
28-Apr-2017 2,787.28 32.26% 9.77% 0.37%
31-May-2017 2,891.53 32.92% 9.95% 0.50%
30-Jun-2017 2,824.87 28.08% 8.60% 1.67%
31-Jul-2017 2,877.24 26.05% 8.02% 0.62%
31-Aug-2017 2,963.22 27.42% 8.41% 0.93%
29-Sep-2017 2,994.70 30.29% 9.22% -0.05%
31-Oct-2017 3,171.96 37.15% 11.10% 1.12%
30-Nov-2017 3,215.88 35.97% 10.79% 0.30%
29-Dec-2017 3,232.59 37.47% 11.19% 2.01%
31-Jan-2018 3,392.24 36.33% 10.88% -0.17%
28-Feb-2018 3,358.44 31.63% 9.59% -0.32%
30-Mar-2018 3,332.50 29.01% 8.86% -0.15%
30-Apr-2018 3,383.15 26.26% 8.08% 0.73%
31-May-2018 3,248.56 22.09% 6.88% -0.75%
29-Jun-2018 3,185.22 23.90% 7.40% 2.64%
31-Jul-2018 3,247.45 28.56% 8.74% 2.45%
31-Aug-2018 3,264.34 38.29% 11.41% 3.63%
28-Sep-2018 3,231.02 39.23% 11.66% 3.43%
31-Oct-2018 3,014.57 23.32% 7.24% 3.61%
30-Nov-2018 3,035.17 30.80% 9.36% 3.71%
31-Dec-2018 3,067.81 36.06% 10.81% 6.02%
31-Jan-2019 3,234.71 49.34% 14.30% 8.64%
28-Feb-2019 3,323.62 54.89% 15.70% 9.71%
29-Mar-2019 3,352.17 47.91% 13.94% 8.80%
30-Apr-2019 3,445.71 50.16% 14.51% 8.31%
31-May-2019 3,247.47 39.76% 11.80% 7.44%
28-Jun-2019 3,412.45 45.40% 13.29% 7.88%
31-Jul-2019 3,460.29 43.02% 12.67% 7.33%
30-Aug-2019 3,345.37 33.44% 10.09% 6.81%
30-Sep-2019 3,403.76 36.50% 10.93% 7.15%
31-Oct-2019 3,473.55 38.14% 11.37% 6.90%
29-Nov-2019 3,535.15 42.97% 12.65% 8.45%
31-Dec-2019 3,662.07 44.33% 13.01% 7.25%
31-Jan-2020 3,663.70 43.88% 12.89% 7.86%
28-Feb-2020 3,567.76 37.27% 11.14% 5.41%
31-Mar-2020 3,203.19 19.72% 6.18% 1.44%
30-Apr-2020 3,295.70 18.24% 5.74% 0.75%
Average 31.22% 8.62% Rf 0.89%
CAPM 4.77%
SUMMARY OUTPUT
Multiple R 0.7217992153
R Square 0.5209941072
Adjusted R Squar 0.5180910412
Observations 167
ANOVA
df SS MS F Significance F
Regression 1 0.387023516379 0.387023516379 179.463403229339 3.62982E-28
Residual 165 0.3558323259975 0.0021565595515
Total 166 0.7428558423765
Coefficients Standard Error t Stat P-value Lower 95%

Intercept -0.018862244 0.0048299242391 -3.905287821924 0.00013697925942319 -0.02839867
X Variable 1 0.501738917 0.0374532783711 13.396395158002 3.62981872297582E-28 0.42778946
gnificance F
Upper 95%Lower 95.0%

Upper 95.0%
Upper 95.0%
-0.009326 -0.028399 -0.009326 -0.013628
0.575688 0.427789 0.575688 0.710334
Onepath
Monthly Return 1 Year return 3-year return Annualized 3-year return
99.89%
101.21%
101.26%
100.19%
100.92%
100.62%
99.09%
100.28%
100.98%
98.80%
100.76%
100.27% 104.32616%
99.73% 104.16126%
100.13% 103.05660%
100.36% 102.14216%
99.80% 101.73955%
100.46% 101.27106%
100.12% 100.77519%
99.14% 100.82094%
100.23% 100.77049%
100.76% 100.54363%
98.53% 100.27030%
100.62% 100.12454%
100.08% 99.93312%
99.61% 99.80839%
100.36% 100.02870%
100.46% 100.12393%
99.50% 99.81851%
100.40% 99.76229%
100.44% 100.07597%
100.43% 101.37944%
100.41% 101.55787%
100.36% 101.15728%
97.95% 100.55839%
100.59% 100.53583%
100.50% 100.96568% 105.26316% 101.72448%
99.42% 100.77750% 104.76998% 101.56536%
100.46% 100.87996% 103.99330% 101.31376%
100.80% 101.21870% 103.51509% 101.15823%
99.22% 100.93780% 102.50729% 100.82887%
100.53% 101.06748% 102.10881% 100.69805%
100.25% 100.88252% 101.74179% 100.57726%
99.22% 99.66928% 101.87367% 100.62070%
100.48% 99.74591% 102.08032% 100.68869%
100.20% 99.58740% 101.28755% 100.42736%
97.96% 99.59789% 100.42475% 100.14138%
99.13% 98.14409% 98.79287% 99.59599%
100.05% 97.69886% 98.57634% 99.52318%
99.53% 97.80932% 98.38092% 99.45737%
99.36% 96.73841% 97.61768% 99.19950%
99.96% 95.93641% 97.22593% 99.06663%
97.19% 93.97042% 94.67953% 98.19409%
99.06% 92.59713% 93.36313% 97.73688%
98.29% 90.78168% 91.65242% 97.13625%
101.50% 92.87069% 93.84041% 97.90314%
101.04% 93.38617% 94.60002% 98.16660%
98.18% 91.50659% 92.18365% 97.32355%
98.27% 91.80044% 91.94185% 97.23839%
100.68% 93.24088% 92.00077% 97.25915%
98.88% 92.14888% 90.89779% 96.86892%
95.34% 88.26565% 87.00326% 95.46522%
95.01% 84.40655% 82.37207% 93.74037%
97.25% 82.11589% 79.73912% 92.73076%
99.73% 84.26150% 79.92344% 92.80216%
95.87% 81.54598% 76.31529% 91.38407%
99.54% 82.58212% 75.63105% 91.11014%
100.05% 81.40057% 75.34726% 90.99604%
100.93% 81.30936% 75.73875% 91.15337%
101.98% 84.45153% 76.95986% 91.64064%
101.97% 87.63351% 80.12446% 92.87989%
101.48% 88.33073% 80.83183% 93.15242%
101.22% 90.42811% 81.41098% 93.37437%
101.95% 96.70124% 83.48414% 94.16033%
101.12% 102.91454% 84.03337% 94.36637%
100.94% 106.81791% 84.15013% 94.41006%
100.88% 108.05795% 85.56124% 94.93486%
100.57% 113.35082% 85.59034% 94.94562%
100.22% 114.13174% 85.56392% 94.93584%
99.87% 113.93153% 86.12912% 95.14442%
100.24% 113.15855% 85.92320% 95.06854%
100.14% 111.12465% 85.87571% 95.05102%
98.26% 107.07372% 86.13861% 95.14792%
100.68% 106.22866% 87.49030% 95.64303%
101.16% 106.16494% 88.46564% 95.99712%
100.46% 104.60924% 89.28815% 96.29371%
100.84% 104.32134% 90.62041% 96.77028%
100.82% 104.20300% 91.40112% 97.04738%
99.94% 103.22438% 93.98709% 97.95412%
100.96% 103.62494% 95.78368% 98.57433%
100.75% 104.17422% 98.18672% 99.39188%
99.73% 104.01876% 96.46795% 98.80851%
100.42% 104.20556% 95.87796% 98.60666%
100.38% 104.45175% 98.02428% 99.33704%
96.47% 102.55552% 96.23037% 98.72733%
99.54% 101.39659% 95.14301% 98.35406%
99.68% 99.91235% 95.91880% 98.62066%
99.88% 99.33471% 100.48544% 100.16155%
100.32% 98.82111% 106.09614% 101.99210%
100.33% 98.33727% 109.45672% 103.05779%
99.75% 98.15371% 109.48276% 103.06596%
100.11% 97.33121% 114.32497% 104.56356%
100.24% 96.83411% 115.13174% 104.80895%
100.64% 97.72487% 115.81390% 105.01554%
100.17% 97.48156% 114.94781% 104.75310%
100.26% 97.36511% 113.01328% 104.16212%
100.32% 101.25136% 111.18413% 103.59710%
100.26% 101.97857% 109.84340% 103.17900%
100.42% 102.73056% 108.96824% 102.90425%
100.37% 103.23891% 107.27895% 102.36972%
100.30% 103.21769% 106.40867% 102.09215%
100.29% 103.17443% 105.72323% 101.87246%
99.94% 103.36833% 104.73130% 101.55286%
100.42% 103.69237% 104.58352% 101.50507%
100.31% 103.75981% 104.66893% 101.53270%
100.01% 103.10774% 104.81128% 101.57871%
100.04% 102.97265% 104.60086% 101.51068%
99.37% 102.05930% 103.79386% 101.24896%
99.87% 101.60129% 105.50162% 101.80123%
99.96% 101.29703% 104.74396% 101.55695%
100.36% 101.23826% 103.91147% 101.28718%
100.34% 101.20174% 103.78449% 101.24591%
100.22% 101.12395% 103.14731% 101.03828%
100.23% 101.06788% 102.54237% 100.84038%
100.00% 101.13204% 102.60842% 100.86202%
100.37% 101.07459% 102.00957% 100.66542%
100.18% 100.95053% 101.42993% 100.47439%
100.12% 101.06595% 101.83598% 100.60829%
100.08% 101.10750% 101.49104% 100.49456%
100.27% 102.02303% 101.38043% 100.45804%
100.02% 102.17368% 105.10881% 101.67473%
99.97% 102.18519% 105.55859% 101.81956%
99.78% 101.59743% 105.66400% 101.85343%
99.96% 101.21375% 105.74769% 101.88032%
100.11% 101.10622% 105.53245% 101.81115%
99.75% 100.62245% 104.92528% 101.61552%
100.01% 100.63291% 105.20013% 101.70417%
100.61% 100.88076% 105.72974% 101.87455%
100.02% 100.71789% 105.49804% 101.80008%
100.18% 100.76895% 105.00812% 101.64226%
99.98% 100.66449% 104.80489% 101.57664%
99.79% 100.18638% 104.31806% 101.41912%
100.21% 100.37269% 104.19667% 101.37976%
99.86% 100.25889% 103.77854% 101.24397%
99.55% 100.02076% 102.87681% 100.94989%
100.55% 100.61257% 103.05753% 101.00896%
100.13% 100.63262% 102.88941% 100.95401%
100.03% 100.91490% 102.62741% 100.86824%
99.37% 100.26509% 102.04190% 100.67605%
99.49% 99.14760% 101.09566% 100.36389%
100.61% 99.73658% 101.40742% 100.46695%
100.37% 99.93297% 101.77484% 100.58815%
100.27% 100.22175% 102.00504% 100.66393%
99.55% 99.97416% 102.18677% 100.72367%
100.42% 100.19081% 102.75016% 100.90844%
100.39% 100.72819% 103.19577% 101.05411%
99.89% 101.07964% 102.71563% 100.89714%
100.32% 100.84660% 102.69588% 100.89067%
99.95% 100.65997% 102.41732% 100.79937%
100.34% 100.97357% 102.53165% 100.83686%
100.15% 101.76776% 102.68334% 100.88656%
100.07% 102.36057% 102.38191% 100.78775%
100.21% 101.95251% 102.41393% 100.79825%
100.10% 101.67692% 102.39009% 100.79043%
100.16% 101.64150% 102.54379% 100.84084%
95.53% 102.37046% 102.53477% 100.83788%
100.14% 102.14798% 102.72431% 100.89998%
99.83% 101.65463% 102.65997% 100.87891%
100.34% 102.16085% 103.28525% 101.08330%
100.13% 102.02818% 103.52224% 101.16056%
100.01% 102.15924% 103.48400% 101.14810%
100.02% 101.90287% 103.83636% 101.26277%
100.18% 101.99379% 104.07194% 101.33930%
99.80% 101.79567% 103.31043% 101.09152%
99.60% 101.52354% 103.23315% 101.06631%
100.00% 101.48769% 103.12039% 101.02950%
99.66% 101.06687% 102.88072% 100.95116%
99.95% 106.05224% 103.41171% 101.12454%
99.97% 100.98865% 103.23655% 101.06742%
99.93% 101.08470% 103.38171% 101.11476%
100.29% 101.02827% 104.20337% 101.38194%
99.72% 100.62468% 103.43326% 101.13157%
99.58% 100.20120% 102.96079% 100.97735%
99.47% 99.65270% 102.48699% 100.82222%
100.45% 99.91570% 103.64438% 101.20033%
100.40% 100.50575% 104.62797% 101.51945%
99.89% 100.80265% 103.95339% 101.30080%
100.32% 100.84809% 103.94593% 101.29838%
99.67% 100.86055% 103.41669% 101.12617%
100.28% 101.18987% 104.22413% 101.38867%
100.16% 101.07207% 104.00762% 101.31841%
99.81% 100.95461% 103.48544% 101.14857%
100.07% 100.74047% 103.73708% 101.23049%
100.09% 101.10472% 103.55854% 101.17238%
100.09% 101.61318% 103.76205% 101.23861%
100.06% 102.21971% 103.53739% 101.16549%
100.03% 101.79327% 103.48327% 101.14786%
99.65% 101.03972% 103.14054% 101.03607%
96.67% 97.80411% 99.80581% 99.93523%
100.89% 98.34743% 100.58751% 100.19545%
GM Return -0.05% -0.10% -0.88% -0.30%

94.76675% 98.93073%
90.45005% 98.01257%
84.91422% 96.78233%
81.54820% 96.00257%
81.16618% 95.91246%
77.10159% 94.93201%
76.27524% 94.72764%
77.01371% 94.91036%
77.51132% 95.03269%
78.27372% 95.21891%
80.78965% 95.82331%
81.36616% 95.95967%
82.14217% 96.14202%
83.97203% 96.56660%
84.79717% 96.75564%
85.28122% 96.86585%
86.20690% 97.07522%
86.29837% 97.09582%
86.38462% 97.11522%
87.02845% 97.25955%
87.04005% 97.26214%
86.51110% 97.14364%
86.27130% 97.08972%
86.32667% 97.10218%
87.26456% 97.31226%
88.01113% 97.47821%
88.43615% 97.57217%
88.75559% 97.64256%
89.14833% 97.72882%
89.63973% 97.83632%
89.92219% 97.89790%
89.29415% 97.76077%
89.30924% 97.76407%
89.32858% 97.76831%
87.98468% 97.47234%
87.06577% 97.26789%
86.35417% 97.10837%
86.75112% 97.19748%
86.63127% 97.17061%
86.22895% 97.08019%
86.68942% 97.18365%
86.32591% 97.10201%
86.31361% 97.09925%
87.55214% 97.37632%
87.28182% 97.31611%
87.33522% 97.32802%
89.44535% 97.79385%
90.46742% 98.01633%
90.80159% 98.08863%
91.56685% 98.25342%
92.43360% 98.43872%
92.73458% 98.50275%
95.35916% 99.05411%
96.66972% 99.32489%
98.65299% 99.72913%
97.20294% 99.43422%
96.24166% 99.23677%
97.40687% 99.47591%
98.99476% 99.79814%
98.28393% 99.65441%
99.75807% 99.95157%
104.98676% 100.97803%
110.74083% 102.06141%
114.13731% 102.67992%
114.45163% 102.73641%
119.82016% 103.68262%
120.59598% 103.81654%
120.68598% 103.83203%
119.67570% 103.65761%
117.67394% 103.30850%
115.42000% 102.90968%
113.69952% 102.60103%
112.07980% 102.30703%
109.88591% 101.90334%
108.79499% 101.70019%
107.51733% 101.46019%
106.58726% 101.28405%
106.63839% 101.29376%
106.42239% 101.25270%
106.74306% 101.31364%
106.46206% 101.26025% GM Return
106.09101% 101.18956%
108.19663% 101.58808%
107.30991% 101.42102%
105.59329% 101.09444%
105.68764% 101.11250%
104.94809% 100.97059%
104.12465% 100.81165%
103.53156% 100.69654%
102.03083% 100.40291%
101.88898% 100.37497%
102.55026% 100.50493%
102.39199% 100.47389%
101.54315% 100.30674%
105.70185% 101.11522%
106.60254% 101.28695%
106.82695% 101.32956%
107.29622% 101.41843%
106.90095% 101.34360%
106.91611% 101.34647%
107.34361% 101.42739%
107.30304% 101.41972%
107.27457% 101.41434%
106.69746% 101.30498%
106.76149% 101.31714%
106.76329% 101.31748%
106.63788% 101.29367%
106.26391% 101.22252%
106.23452% 101.21692%
106.03791% 101.17943%
105.80474% 101.13489%
105.59844% 101.09542%
105.91621% 101.15619%
105.34029% 101.04595%
104.96256% 100.97338%
105.02100% 100.98462%
104.71132% 100.92499%
105.70040% 101.11494%
105.87370% 101.14807%
105.91429% 101.15583%
105.88992% 101.15117%
105.32997% 101.04397%
104.75831% 100.93405%
104.06842% 100.80076%
104.57684% 100.89906%
104.64978% 100.91313%
104.42387% 100.86952%
104.67501% 100.91799%
104.33473% 100.85229%
104.39141% 100.86325%
104.59444% 100.90245%
104.50888% 100.88594%
104.87883% 100.95726%
105.07501% 100.99500%
105.10760% 101.00127%
105.50190% 101.07693%
105.59177% 101.09415%
104.67531% 100.91805%
101.48649% 100.29555%
102.20572% 100.43730%
-1.88% -0.38%
Solaris
Monthly Return 1-year return 3-year return Annualized 3-year return 5-year return
88.70928%
95.52733%
100.46243%
96.24568%
96.50276%
108.14620%
106.12917%
100.36432%
103.34767%
104.26694%
106.84966%
106.35217% 111.53564%
98.62758% 124.00607%
101.10208% 131.24277%
103.68861% 135.45742%
92.09939% 129.62188%
101.76410% 136.68886%
106.28824% 134.34054%
98.09189% 124.16678%
92.08868% 113.92848%
96.16474% 106.01015%
103.37465% 105.10293%
98.46866% 96.85894%
104.52080% 95.19104%
101.22261% 97.69565%
98.80356% 95.47457%
104.02491% 95.78422%
98.99113% 102.95169%
102.34069% 103.53501%
100.63471% 98.02793%
100.07612% 100.01087%
97.84853% 106.26623%
97.93448% 108.22187%
94.16034% 98.57550%
96.91715% 97.02230%
93.61332% 86.89735% 92.26059% 97.35063%
107.85771% 92.59344% 112.17559% 103.90413%
95.79129% 89.77050% 112.48555% 103.99974%
98.54830% 85.04435% 110.34235% 103.33499%
104.02816% 89.37171% 119.26468% 106.04836%
102.34336% 89.37404% 126.48289% 108.14603%
101.66524% 90.28926% 118.90305% 105.94106%
101.03577% 91.15506% 113.19660% 104.21841%
93.28883% 86.90727% 105.21646% 101.70943%
100.16611% 88.88763% 101.97736% 100.65482%
100.56130% 94.93015% 98.35309% 99.44799%
103.18407% 101.06859% 94.97898% 98.29751%
101.95476% 110.07433% 91.05182% 96.92360%
103.07488% 105.19321% 95.15752% 98.35906%
100.29247% 110.13618% 94.39551% 98.09581%
103.33606% 115.48690% 94.07455% 97.98450%
103.18320% 114.54887% 105.39606% 101.76727%
104.82442% 117.32582% 108.56560% 102.77735%
97.85014% 112.92304% 99.94670% 99.98223%
104.66084% 116.97461% 106.63986% 102.16603%
96.18873% 120.61078% 111.38777% 103.66031%
97.83875% 117.80839% 113.32679% 104.25835%
103.89821% 121.71762% 113.90076% 104.43407%
102.33455% 120.71552% 118.37251% 105.78326%
102.65811% 121.54829% 116.26298% 105.15110% 123.43865%
105.09921% 123.93542% 120.71559% 106.47667% 146.24517%
99.43364% 122.87414% 121.48541% 106.70253% 152.22543%
101.50940% 120.70211% 118.54767% 105.83541% 153.81185%
94.67876% 110.75375% 113.38336% 104.27570% 151.30773%
105.24496% 111.19808% 116.60101% 105.25291% 165.01471%
100.77898% 114.52645% 116.76816% 105.30318% 153.77345%
101.10821% 110.63895% 117.97240% 105.66394% 146.49845%
100.93949% 116.10340% 121.69906% 106.76504% 147.33799%
97.91039% 116.18841% 121.66912% 106.75629% 139.58631%
102.72134% 114.87233% 132.73121% 109.89831% 137.51716%
100.56251% 112.88319% 137.72366% 111.25926% 129.42550%
95.29953% 104.79167% 140.20441% 111.92331% 115.97497%
104.09921% 103.79460% 135.31873% 110.60786% 122.40899%
97.50818% 101.78470% 137.74409% 111.26477% 118.05770%
99.55232% 99.82231% 139.14744% 111.64135% 113.34820%
102.99794% 108.59344% 137.76942% 111.27159% 126.76121%
106.84009% 110.23932% 143.82270% 112.87796% 133.08407%
101.03865% 110.52337% 142.93629% 112.64558% 126.51103%
97.57331% 106.65930% 138.03791% 111.34382% 125.84221%
100.85492% 106.56994% 149.23332% 114.27606% 137.82157%
91.15712% 99.21938% 135.81120% 110.74187% 130.64474%
104.12127% 100.57158% 140.61905% 112.03354% 131.58832%
92.26883% 92.27716% 125.74379% 107.93497% 123.30319%
97.89793% 94.79315% 120.74038% 106.48396% 115.49020%
106.21192% 96.71699% 124.41507% 107.55345% 121.18277%
99.29478% 98.48909% 123.17742% 107.19562% 121.78526%
101.81818% 100.73075% 121.36810% 106.66817% 119.20177%
90.98772% 88.98490% 107.02330% 102.28834% 109.56434%
98.14985% 81.74698% 100.20872% 100.06953% 105.07770%
105.03020% 84.97641% 107.56186% 102.45963% 109.66725%
103.48042% 90.12090% 106.34872% 102.07297% 113.39781%
104.15868% 93.07304% 115.16050% 104.81767% 120.71072%
91.52677% 93.45046% 107.73102% 102.51331% 112.81279%
106.16185% 95.28191% 110.07817% 103.25246% 127.19171%
99.12895% 102.36605% 106.63000% 102.16288% 130.09443%
100.41070% 104.99351% 104.29563% 101.41185% 139.54075%
97.31761% 96.20122% 96.57353% 98.84454% 125.90450%
103.37210% 100.15152% 100.39871% 100.13273% 135.86845%
104.34002% 102.63207% 103.19835% 101.05495% 143.85347%
96.42048% 108.76009% 105.09680% 101.67086% 133.33333%
102.25564% 113.30973% 102.11168% 100.69900% 133.21905%
103.54779% 111.71046% 104.91712% 101.61289% 135.68590%
101.76638% 109.86010% 105.60007% 101.83289% 136.66706%
96.92979% 102.23551% 101.40524% 100.46624% 142.00102%
100.16197% 111.88104% 103.73719% 101.23052% 141.99515%
100.07485% 105.46109% 101.05970% 100.35199% 141.30153%
100.89183% 107.27603% 101.33345% 100.44252% 138.08458%
100.40871% 107.24627% 106.73862% 102.19756% 135.95563%
104.18402% 114.52253% 106.55511% 102.13896% 137.07066%
101.94439% 112.81014% 111.27402% 103.62501% 139.16715%
102.08200% 110.23471% 113.96290% 104.45306% 137.31121%
99.42135% 113.71617% 110.05458% 103.24508% 132.36407%
100.87751% 112.10846% 103.84301% 101.26494% 127.29493%
96.57376% 104.84111% 99.52309% 99.84078% 125.97483%
104.66912% 107.45225% 106.38515% 102.08462% 125.54163%
100.91324% 111.79160% 106.37383% 102.08100% 131.61776%
108.67299% 128.78927% 126.05483% 108.02390% 145.31781%
96.09028% 117.40794% 116.86152% 105.33124% 135.00886%
101.44067% 117.93841% 128.26652% 108.65201% 133.60933%
98.68308% 116.01003% 129.49266% 108.99713% 128.63194%
94.19974% 105.30892% 115.66620% 104.97088% 116.11384%
96.76852% 100.18984% 113.18277% 104.21417% 113.46212%
99.93780% 100.01602% 111.10119% 103.57133% 111.71421%
103.92003% 102.20451% 126.19442% 108.06375% 121.94390%
106.50698% 107.44009% 135.75922% 110.72774% 122.34256%
100.65522% 111.93199% 129.99108% 109.13679% 122.08605%
102.46305% 109.39761% 128.30203% 108.66204% 123.32689%
100.14595% 108.55552% 123.33579% 107.24154% 122.33415%
108.34462% 112.83329% 144.53772% 113.06471% 134.01678%
98.90155% 111.28875% 134.88923% 110.49071% 129.25966%
97.82881% 107.47030% 133.59121% 110.13515% 126.19091%
101.28041% 110.21282% 134.47161% 110.37656% 133.83508%
99.62916% 116.59167% 137.74802% 111.26582% 128.16479%
103.47686% 124.41776% 137.14070% 111.10206% 135.27327%
97.90141% 124.91376% 129.11010% 108.88969% 133.47667%
104.76109% 123.19596% 139.14756% 111.64138% 134.66709%
92.02639% 107.00106% 127.07996% 108.31594% 117.71071%
77.40508% 83.84676% 100.06480% 100.02159% 94.98905%
109.74160% 89.14578% 105.75927% 101.88404% 104.70898%
0.27% 6.27% 15.80% 5.01% 28.96%
Annualized 5-year return Monthly Return
100.47000%
101.69205%
101.65009%
105.94487%
103.27183%
102.95697%
107.17155%
103.04674%
99.38854%
103.51998%
98.72865%
93.91192%
94.73428%
101.08770%
100.20139%
102.44555%
104.71278%
102.64838%
97.42763%
104.20870%
101.06640%
101.75859%
103.89028%
100.68663%
101.87711%
96.25285%
91.16569%
99.53766%
102.66256%
102.95521%
105.75572%
102.06390%
104.11357%
100.56539%
100.01323%
100.48939%
103.50773%
106.49797%
99.40299%
86.59459%
97.51006%
107.56099%
105.60772%
97.13838%
97.60201%
88.03249%
101.95814%
96.18837%
106.80845%
103.88197%
91.71277%
96.94768%
102.35732%
90.01515%
85.71789%
90.80020%
103.60078%
96.39912%
95.14942%
104.30142% 110.94675%
107.89872% 106.56410%
108.76707% 111.07796%
108.99284% 104.66693%
108.63561% 108.94391%
110.53620% 107.82675%
108.98739% 106.10289%
107.93607% 99.52179%
108.05950% 101.90203%
106.89775% 104.95776%
106.57893% 92.81792%
105.29408% 99.69748%
103.00845% 108.83399%
104.12683% 101.53605%
103.37579% 90.88357%
102.53755% 88.07815%
104.85696% 106.27853%
105.88275% 100.48773%
104.81554% 108.32263%
104.70448% 101.27174%
106.62608% 97.69016%
105.49172% 102.07140%
105.64367% 103.40620%
104.27852% 100.93393%
102.92219% 98.48703%
103.91738% 99.37155%
104.02050% 97.31698%
103.57538% 88.80517%
101.84362% 100.86794%
100.99552% 96.54844%
101.86275% 90.39089%
102.54652% 108.80846%
103.83629% 94.37413%
102.44050% 96.25480%
104.92809% 105.87885%
105.40270% 106.49121%
106.89077% 104.03104%
104.71484% 100.72427%
106.32214% 88.73229%
107.54348% 97.26094%
105.92238% 102.15797%
105.90422% 102.85458%
106.29356% 103.63175%
106.44684% 99.91583%
107.26506% 95.55062%
107.26418% 105.23363%
107.15918% 101.98781%
106.66674% 102.66597%
106.33578% 97.84696%
106.50964% 98.04490%
106.83347% 98.14239%
106.54699% 96.62392%
105.76793% 107.93955%
104.94511% 104.74815%
104.72654% 102.79330%
104.65441% 101.97441%
105.64839% 98.42812%
107.76154% 99.90404%
106.18727% 98.29171%
105.96620% 107.72667%
105.16465% 100.87469%
103.03311% 99.26778%
102.55815% 99.27532%
102.24020% 98.56612%
104.04759% 104.11294%
104.11553% 102.96602%
104.07183% 94.70762%
104.28253% 101.31562%
104.11410% 96.49653%
106.03075% 100.77943%
105.26709% 102.88207%
104.76244% 109.07222%
106.00198% 99.20476%
105.08815% 99.03212%
106.22883% 102.25447%
105.94515% 95.19016%
106.13345% 103.34039%
103.31496% 96.60229%
98.97710% 100.49364%
100.92454% 107.41741%
5.22% 103.84132%
105.63140%
95.24207%
94.12344%
102.99965%
105.21504%
105.71827%
98.02618%
108.72716%
97.04832%
101.94260%
94.96174%
98.30242%
100.05155%
95.52785%
101.41848%
97.87279%
99.41317%
99.29493%
102.63659%
100.09718%
103.05277%
103.66994%
105.11660%
104.97241%
102.51301%
99.79433%
100.06698%
98.71795%
102.00810%
103.48364%
107.34177%
92.61420%
103.27746%
99.87547%
92.47443%
99.94842%
91.71445%
106.17121%
105.43446%
101.91607%
104.10731%
99.73911%
112.74489%
94.98730%
98.36280%
103.38438%
101.87258%
102.00718%
98.36889%
102.10587%
95.82860%
73.87130%
116.12267%
GM Return 0.42%
UBS
1-year return 3-year return Annualized 3-year return 5-year return Annualized 5-year return
123.25000%
116.21380%
115.52315%
113.87673%
110.11542%
111.65185%
111.31721%
101.19636%
102.33746%
104.06510%
102.29444%
107.64249%
115.40771%
124.10928%
118.17335%
107.51701%
104.46517%
102.41980%
102.72595%
111.50694%
109.21192%
112.50468%
111.18547%
107.03617%
106.82649% 151.95000% 114.96533%
108.53633% 156.54424% 116.11252%
120.08890% 163.94245% 117.91357%
130.93956% 160.31829% 117.03821%
113.91325% 131.03699% 109.42872%
108.19609% 123.72613% 107.35455%
113.03633% 129.25891% 108.93150%
112.87815% 127.37279% 108.39907%
107.43075% 120.06966% 106.28642%
100.71172% 117.91138% 105.64572%
88.16059% 100.27082% 100.09019%
89.87501% 103.55075% 101.16984%
86.02830% 106.06085% 101.98079%
88.77162% 119.57862% 106.14133%
86.59104% 122.88401% 107.11044%
79.89201% 112.47382% 103.99612%
89.44375% 106.43777% 102.10145%
93.89003% 104.04351% 101.33007%
78.57426% 91.23858% 96.98982%
63.77583% 80.27270% 92.93714%
59.61452% 69.94403% 88.76673%
63.27852% 71.69797% 89.50259%
69.29252% 67.92175% 87.90285%
64.66519% 62.20712% 85.36504%
74.58690% 68.54612% 88.17138% 97.50000% 99.49492%
74.41627% 71.69968% 89.50330% 103.41395% 100.67365%
79.57115% 82.74305% 93.88088% 112.95879% 102.46700%
90.81034% 94.99693% 98.30370% 116.31125% 103.06812%
102.04715% 103.97409% 101.30752% 119.60374% 103.64514%
107.50000% 109.20425% 102.97849% 124.87899% 104.54370%
126.71267% 112.54298% 104.01743% 128.69476% 105.17492%
147.11831% 105.90896% 101.93208% 119.50869% 103.62866%
165.10597% 105.74100% 101.87817% 118.18111% 103.39740%
167.26855% 106.59838% 102.15278% 124.80336% 104.53104%
161.05457% 98.38614% 99.45913% 111.90100% 102.27437%
168.75284% 98.07552% 99.35435% 112.99909% 102.47431%
165.53928% 106.21968% 102.03167% 130.95400% 105.54162%
157.72859% 104.19634% 101.37966% 140.35629% 107.01542%
129.05294% 88.91940% 96.16097% 126.18826% 104.76200%
108.59920% 78.78895% 92.36096% 110.92090% 102.09458%
105.94225% 96.69857% 98.88719% 115.07098% 102.84736%
98.73150% 99.65147% 99.88369% 110.42800% 102.00368%
100.79702% 100.35710% 100.11889% 116.53229% 103.10726%
102.56941% 96.23669% 98.72949% 121.13020% 103.90836%
98.32995% 96.78334% 98.91607% 113.55317% 102.57460%
95.62586% 101.21524% 100.40345% 114.68233% 102.77780%
106.53445% 118.89114% 105.93753% 116.53920% 103.10848%
107.85570% 117.69684% 105.58161% 113.22291% 102.51487%
97.60175% 120.50949% 106.41604% 110.74944% 102.06299%
95.52111% 112.11861% 103.88653% 108.02567% 101.55596%
102.28280% 105.03309% 101.65031% 109.21996% 101.77952%
103.12707% 101.70320% 100.56454% 106.39197% 101.24691%
97.87692% 105.81576% 101.90217% 107.81386% 101.51610%
94.03997% 99.81061% 99.93683% 101.39295% 100.27705%
78.47259% 100.22723% 100.07569% 89.01929% 97.70051%
84.31258% 127.22631% 108.35750% 91.58892% 98.25815%
81.45065% 132.23400% 109.76091% 84.68837% 96.73079%
76.80914% 122.85774% 107.10280% 78.29586% 95.22429%
78.64580% 134.93937% 110.50440% 82.43270% 96.20993%
82.97593% 151.02412% 114.73135% 87.77197% 97.42517%
87.64680% 141.61026% 112.29616% 90.86542% 98.10242%
88.83991% 133.84986% 110.20619% 88.42192% 97.56903%
81.00302% 106.92314% 102.25642% 73.67164% 94.07193%
88.71589% 99.35751% 99.78538% 72.08408% 93.66296%
89.85051% 93.16869% 97.66898% 85.03953% 96.81088%
95.71917% 88.87245% 96.14404% 89.70055% 97.84959%
109.74053% 86.80260% 95.39177% 86.42375% 97.12401%
100.77172% 87.14629% 95.51750% 81.76581% 96.05376%
102.02797% 81.71459% 93.49029% 80.42932% 95.73768%
111.54532% 81.92936% 93.57213% 86.71818% 97.19010%
107.44604% 90.02353% 96.55735% 100.46515% 100.09286%
103.58650% 92.70398% 97.50633% 101.16262% 100.23145%
97.42884% 83.34531% 94.10811% 102.90698% 100.57475%
94.83713% 80.47962% 93.01692% 94.46354% 98.86734%
104.89465% 86.90748% 95.43017% 89.24435% 97.74986%
104.20763% 95.33966% 98.42178% 94.02331% 98.77502%
110.10521% 96.82972% 98.93187% 104.68362% 100.91965%
112.13227% 100.93505% 100.31072% 107.12879% 101.38676%
111.22504% 95.78281% 98.57403% 122.33631% 104.11447%
113.51662% 96.44739% 98.80149% 145.53756% 107.79411%
116.93516% 97.17597% 99.04965% 157.76384% 109.54725%
111.01295% 95.11256% 98.34357% 152.13443% 108.75407%
106.98977% 90.40828% 96.69471% 155.12126% 109.17778%
112.26360% 96.49265% 98.81694% 175.62585% 111.92257%
115.73744% 98.83197% 99.60913% 159.68205% 109.81236%
117.18098% 98.72876% 99.57444% 148.74880% 108.26565%
118.53368% 100.71550% 100.23794% 132.94342% 105.86036%
120.91629% 111.78557% 103.78356% 125.19444% 104.59647%
116.62963% 115.38180% 104.88477% 119.64286% 103.65192%
114.64536% 123.05123% 107.15900% 114.24947% 102.70009%
105.62741% 128.92770% 108.83838% 101.97928% 100.39276%
104.94502% 120.04939% 106.28043% 103.81741% 100.75208%
102.88554% 122.74920% 107.07126% 98.31030% 99.65975%
103.78705% 128.51924% 108.72332% 94.39661% 98.85332%
108.63405% 124.88165% 107.68773% 104.63193% 100.90968%
109.99093% 127.90838% 108.55079% 114.47067% 102.73983%
108.17008% 121.97436% 106.84549% 104.34273% 100.85384%
107.91330% 119.92522% 106.24378% 101.76959% 100.35144%
111.15167% 138.20097% 111.38765% 114.50248% 102.74554%
107.34464% 135.25854% 110.59145% 123.74817% 104.35368%
106.54811% 136.82408% 111.01649% 120.32707% 103.77020%
99.96299% 128.50686% 108.71983% 115.67452% 102.95502%
106.07008% 124.61550% 107.61117% 107.31418% 101.42183%
112.45822% 133.97151% 110.23956% 113.82653% 102.62394%
121.01792% 145.59590% 113.33996% 120.99374% 103.88494%
126.84426% 146.14623% 113.48258% 125.21370% 104.59968%
117.42483% 136.47973% 110.92328% 115.32782% 102.89323%
101.33129% 125.12365% 107.75724% 107.54611% 101.46563%
105.20753% 131.71276% 109.61650% 112.47381% 102.37886%
111.77599% 141.34506% 112.22602% 119.08777% 103.55556%
115.56233% 152.25587% 115.04242% 129.36852% 105.28481%
119.00531% 154.46550% 115.59627% 142.80139% 107.38571%
125.20863% 155.59259% 115.87675% 153.92789% 109.00928%
125.78675% 144.15529% 112.96490% 154.72486% 109.12192%
127.60039% 142.96230% 112.65242% 174.49828% 111.77849%
112.80439% 133.13095% 110.00852% 152.29202% 108.77659%
106.78741% 132.96093% 109.96168% 158.63112% 109.66743%
101.14649% 133.15724% 110.01577% 164.88828% 110.51926%
101.44999% 129.41300% 108.97477% 148.76835% 108.26850%
109.31287% 121.83491% 106.80475% 141.68174% 107.21678%
103.87177% 118.20926% 105.73461% 133.29471% 105.91625%
98.14398% 118.38240% 105.78621% 131.55965% 105.63906%
92.18084% 118.40579% 105.79317% 147.22042% 108.04225%
96.51633% 123.29558% 107.22988% 155.35736% 109.21100%
88.84408% 118.52461% 105.82855% 152.20374% 108.76397%
93.96959% 118.15754% 105.71919% 151.89676% 108.72006%
95.12391% 128.74626% 108.78730% 151.25641% 108.62824%
104.64021% 132.74428% 109.90192% 158.13831% 109.59921%
111.09181% 143.56605% 112.81078% 172.72341% 111.55017%
113.49735% 145.61542% 113.34502% 167.77380% 110.90339%
118.59501% 141.27923% 112.20859% 164.20506% 110.42752%
117.00542% 129.60474% 109.02856% 160.03564% 109.86095%
118.19550% 129.16513% 108.90515% 161.70607% 110.08934%
120.98109% 132.71795% 109.89465% 167.82698% 110.91042%
125.56118% 133.75572% 110.18034% 176.22605% 111.99897%
150.21999% 149.59593% 114.36855% 194.17126% 114.19235%
125.51786% 135.85479% 110.75372% 168.82222% 111.04165%
125.48153% 144.42182% 113.03448% 165.51163% 110.60269%
121.25131% 143.56503% 112.81051% 160.84893% 109.97238%
107.23675% 125.53447% 107.87505% 148.15489% 108.17906%
102.10977% 120.84113% 106.51357% 150.45922% 108.51350%
92.43303% 106.86852% 102.23900% 140.69018% 107.06629%
97.43573% 117.59138% 105.55006% 150.00349% 108.44768%
102.10740% 130.28136% 109.21797% 145.20539% 107.74486%
106.04689% 128.41743% 108.69461% 146.14298% 107.88364%
107.00490% 126.02725% 108.01602% 152.01553% 108.73706%
103.15871% 118.96184% 105.95852% 152.80584% 108.84989%
114.21198% 133.71551% 110.16930% 170.81598% 111.30270%
111.07345% 118.37896% 105.78518% 157.92633% 109.56981%
106.41052% 120.50773% 106.41552% 151.52665% 108.66703%
111.52419% 121.14672% 106.60328% 163.96704% 110.39549%
120.41664% 129.33769% 108.95363% 164.07496% 110.41001%
122.65768% 133.53008% 110.11835% 172.56345% 111.52950%
132.18250% 131.83832% 109.65133% 169.14662% 111.08429%
126.56093% 140.16234% 111.91212% 166.97186% 110.79717%
115.51628% 133.91034% 110.22278% 148.33000% 108.20462%
87.43695% 110.50043% 103.38432% 120.75589% 103.84406%
94.94463% 123.22092% 107.20824% 135.17508% 106.21340%
5.41% 13.87% 4.43% 23.78% 4.36%
Morphic
Monthly Return 1-year return 3-year return
102.30538%
99.47173%
100.40311%
103.13725%
104.16440%
100.90388%
100.99053%
102.79744%
106.77010%
96.38939%
107.70415%
98.43563% 125.46270%
100.26614% 122.96186%
103.13969% 127.49602%
105.47059% 133.93091%
101.80096% 132.19564%
98.34047% 124.80445%
99.29415% 122.81344%
97.36952% 118.40998%
100.75420% 116.05642%
103.91170% 112.94941%
90.30048% 105.81441%
99.27379% 97.53196%
101.27948% 100.34971%
103.19777% 103.28379%
101.12343% 101.26471%
105.24020% 101.04350%
101.89724% 101.13906%
104.42119% 107.39283%
103.08334% 111.49107%
101.61306% 116.35005%
100.02012% 115.50233%
103.78751% 115.36429%
90.68683% 115.85788%
105.13019% 122.69262%
96.48299% 116.88203% 147.15617%
97.01587% 109.88039% 139.54773%
104.02202% 113.02999% 145.93128%
98.64594% 105.94763% 143.37731%
97.52470% 101.40128% 135.57496%
98.01511% 95.18046% 127.57135%
97.76433% 90.26924% 123.60207%
99.59311% 88.47479% 121.89177%
102.08770% 90.30371% 121.05019%
105.05066% 91.40275% 119.10078%
92.17724% 92.90493% 113.89617%
101.62796% 89.80996% 107.47066%
100.99199% 94.00710% 110.26165%
98.20861% 95.16285% 107.99901%
98.75730% 90.34651% 103.41015%
103.65627% 94.93530% 101.63127%
103.84827% 101.09097% 103.67517%
98.53280% 101.62491% 103.87792%
100.92875% 104.91429% 105.58798%
102.20778% 107.66866% 110.83461%
104.61138% 110.33030% 115.07769%
102.51575% 107.66800% 113.53174%
93.93135% 109.71689% 118.09671%
98.85271% 106.72075% 117.59580%
99.84474% 105.50843% 115.92992%
103.78325% 111.49743% 116.58763%
105.13331% 118.69597% 121.21072%
102.64432% 117.53719% 118.22091%
97.76714% 110.65448% 113.42918%
101.91028% 114.41636% 110.67158%
100.03198% 113.39924% 107.39512%
100.72027% 111.73748% 106.44069%
100.90679% 107.76685% 107.37065%
100.40515% 105.54218% 103.86565%
103.41754% 116.14740% 118.39182%
96.92920% 114.06450% 109.32610%
102.73233% 117.20547% 116.25073%
99.01629% 111.87676% 118.70587%
94.56024% 100.91355% 108.21733%
99.00268% 97.38476% 108.66609%
96.28946% 97.52270% 107.50874%
103.35702% 97.28704% 113.16591%
103.68195% 100.69662% 119.78899%
100.98608% 100.92508% 121.40345%
103.53796% 103.42414% 122.91377%
95.78942% 98.82678% 112.32055%
103.95621% 102.91291% 126.42603%
101.02611% 103.36032% 125.61415%
100.07206% 100.68379% 124.46555%
101.40164% 103.10931% 128.42526%
99.82172% 108.84647% 129.82065%
103.83877% 114.16341% 129.81646%
99.32769% 117.76562% 124.20472%
104.29070% 118.82947% 131.20856%
97.11509% 111.30322% 126.42014%
93.22189% 102.74582% 115.69490%
101.18665% 100.41251% 111.84217%
GM Return 0.590802% 7.165255% 17.589242%
Morphic
Annualized 3-year return 5-year return Annualized 5-year return
113.74339%
111.74830%
113.42692%
112.76132%
110.67762%
108.45537%
107.31866%
106.82137%
106.57496%
105.99976%
104.43267%
102.43066%
103.30980%
102.59824%
101.12403%
100.54083%
101.21035%
101.27628%
101.82900%
103.48843%
104.79254%
104.32116%
105.70104%
105.55138%
105.05059% 145.95745% 107.85623%
105.24888% 148.06591% 108.16606%
106.62204% 156.49330% 109.37024%
105.73808% 159.98655% 109.85421%
104.28974% 151.65644% 108.68564%
103.43766% 148.33426% 108.20524%
102.40665% 147.05185% 108.01749%
102.10239% 146.64341% 107.95742%
102.39888% 143.92807% 107.55463%
101.27229% 135.34035% 106.23936%
105.78901% 145.14166% 107.73540%
103.01677% 130.82455% 105.52075%
105.14741% 136.35138% 106.39762%
105.88247% 134.71766% 106.14142%
102.66733% 123.86500% 104.37337%
102.80905% 116.33052% 103.07153%
102.44276% 110.25699% 101.97207%
104.20900% 115.67479% 102.95507%
106.20353% 120.55820% 103.81004%
106.67853% 124.97326% 104.55948%
107.11908% 128.20261% 105.09435%
103.94886% 118.43767% 103.44225%
108.12982% 136.08204% 106.35555%
107.89787% 138.41448% 106.71766%
107.56799% 136.75952% 106.46124%
108.69681% 134.28827% 106.07368%
109.08907% 132.57109% 105.80100%
109.08790% 130.57160% 105.47991%
107.49280% 127.31920% 104.94912%
109.47645% 126.91418% 104.88226%
108.12815% 119.72660% 103.66643%
104.97956% 110.21052% 101.96347%
103.80108% 111.43098% 102.18830%
5.549423% 32.452831% 5.782116%
Voya
105.64%
100.57%
106.45%
101.25%
102.73%
99.83%
96.66%
101.06%
101.67%
98.53%
102.89%
102.56% 121.25%
103.07% 118.30%
102.42% 120.47%
103.78% 117.45%
97.73% 113.37%
103.18% 113.87%
97.52% 111.23%
99.15% 114.11%
100.39% 113.35%
101.47% 113.13%
100.84% 115.78%
100.61% 113.20%
102.11% 112.71%
96.32% 105.32%
102.91% 105.82%
100.67% 102.65%
104.65% 109.93%
100.78% 107.37%
101.89% 112.18%
103.51% 117.11%
97.21% 113.40%
100.07% 111.83%
100.89% 111.88%
102.71% 114.22%
100.92% 112.90% 154.28% 115.55%
102.87% 120.58% 150.24% 114.53%
102.47% 120.07% 153.08% 115.25%
97.15% 115.88% 139.72% 111.79%
100.51% 111.29% 138.70% 111.52%
99.05% 109.38% 133.73% 110.17%
102.62% 110.17% 137.48% 111.19%
103.18% 109.83% 146.76% 113.64%
101.51% 114.69% 147.41% 113.81%
98.81% 113.24% 143.26% 112.73%
95.24% 106.90% 138.48% 111.46%
100.63% 104.74% 135.43% 110.64%
103.21% 107.11% 136.30% 110.87%
102.56% 106.79% 135.62% 110.69%
95.60% 99.63% 126.59% 108.18%
89.00% 91.27% 108.57% 102.78%
96.23% 87.38% 106.90% 102.25%
97.61% 86.11% 101.13% 100.37%
99.63% 83.59% 103.32% 101.09%
102.16% 82.77% 106.45% 102.11%
100.07% 81.60% 106.12% 102.00%
89.42% 73.84% 93.51% 97.79%
98.20% 76.14% 91.07% 96.93%
98.75% 74.72% 89.39% 96.33%
91.67% 66.36% 80.25% 92.93%
80.53% 52.11% 67.10% 87.55%
92.02% 50.16% 60.00% 84.34%
102.60% 57.82% 61.15% 84.88%
88.29% 53.05% 51.59% 80.20%
87.96% 47.81% 45.03% 76.65%
108.40% 52.01% 47.90% 78.25%
109.47% 55.73% 50.66% 79.72%
109.44% 60.95% 57.04% 82.93%
99.64% 67.92% 56.79% 82.81%
106.61% 73.73% 60.01% 84.35%
103.72% 77.44% 60.61% 84.63%
104.24% 88.06% 62.60% 85.54%
98.12% 107.30% 59.71% 84.21%
104.46% 121.81% 60.87% 84.75%
100.92% 119.81% 63.22% 85.83%
96.98% 131.60% 61.00% 84.81%
100.94% 151.01% 62.16% 85.35%
105.25% 146.63% 63.76% 86.07%
99.12% 132.77% 61.25% 84.92%
90.62% 109.94% 54.68% 81.77%
98.15% 108.29% 54.31% 81.59%
107.44% 109.13% 61.27% 84.93%
96.80% 101.85% 58.93% 83.84%
107.36% 104.90% 61.30% 84.95%
102.49% 109.56% 61.26% 84.93%
95.54% 100.20% 61.22% 84.91%
106.60% 105.85% 73.32% 90.17%
101.71% 111.02% 77.50% 91.86%
103.09% 113.39% 81.86% 93.55%
98.37% 105.97% 80.82% 93.15%
104.71% 111.94% 82.83% 93.92%
98.77% 122.00% 81.75% 93.50%
98.39% 122.31% 89.96% 96.53%
96.37% 109.71% 88.28% 95.93%
94.92% 107.58% 84.85% 94.67%
92.66% 92.84% 85.77% 95.01%
107.60% 97.48% 114.60% 104.65%
98.51% 100.51% 122.68% 107.05%
99.70% 94.00% 119.20% 106.03%
103.95% 96.07% 140.36% 111.96%
104.09% 97.00% 166.10% 118.43%
101.22% 99.82% 155.09% 115.75%
98.06% 93.47% 138.93% 111.58%
91.04% 86.16% 115.57% 104.94%
106.01% 92.83% 122.96% 107.13%
100.29% 96.61% 115.67% 104.97%
102.24% 104.07% 114.02% 104.47%
102.48% 115.10% 112.10% 103.88%
99.44% 106.37% 113.60% 104.34%
100.94% 108.99% 109.77% 103.15%
102.32% 111.85% 111.29% 103.63%
105.07% 113.06% 120.58% 106.44%
98.79% 107.30% 118.02% 105.68%
102.09% 108.23% 114.48% 104.61%
102.99% 113.68% 118.95% 105.96%
100.50% 125.49% 131.92% 109.67%
97.36% 115.25% 130.85% 109.38%
103.39% 118.81% 125.93% 107.99%
97.95% 113.82% 127.43% 108.41%
104.69% 116.28% 124.25% 107.51%
103.36% 120.86% 125.32% 107.81%
101.08% 121.04% 132.59% 109.86%
101.68% 120.29% 126.48% 108.14%
96.01% 109.91% 119.38% 106.08%
105.18% 117.02% 121.80% 106.79%
101.27% 116.07% 125.39% 107.83%
100.29% 113.03% 120.11% 106.30%
101.32% 113.96% 123.21% 107.21%
101.59% 118.91% 127.22% 108.36%
97.29% 111.89% 128.44% 108.70%
101.98% 116.50% 138.00% 111.33%
97.20% 108.16% 144.75% 113.12%
99.19% 103.79% 133.43% 110.09%
100.52% 103.22% 136.16% 110.84%
96.96% 98.42% 132.42% 109.81%
96.48% 98.90% 122.90% 107.12%
106.11% 99.78% 125.28% 107.80%
97.46% 96.02% 120.63% 106.45%
103.99% 99.56% 127.92% 108.56%
99.78% 98.04% 140.21% 111.92%
97.78% 94.37% 129.33% 108.95%
100.15% 97.14% 129.14% 108.90%
93.43% 89.00% 118.02% 105.68%
96.37% 88.24% 110.98% 103.53%
106.79% 95.00% 119.18% 106.02%
98.74% 93.32% 116.59% 105.25%
96.90% 93.27% 110.42% 103.36%
94.26% 91.12% 99.05% 99.68%
99.56% 85.50% 99.83% 99.94%
106.99% 93.87% 104.62% 101.52%
101.47% 91.59% 103.07% 101.01%
99.60% 91.43% 102.15% 100.71%
97.49% 91.16% 102.29% 100.76%
103.40% 94.11% 102.30% 100.76%
100.80% 101.53% 105.28% 101.73%
100.32% 105.70% 100.88% 100.29%
98.81% 97.80% 96.44% 98.80%
101.61% 100.64% 96.94% 98.97%
102.21% 106.15% 97.44% 99.14%
102.16% 115.06% 103.69% 101.21%
102.12% 118.01% 100.67% 100.22%
101.41% 111.85% 100.81% 100.27%
100.07% 110.31% 100.59% 100.20%
101.17% 112.05% 100.43% 100.14%
101.70% 116.88% 100.54% 100.18%
101.65% 114.88% 105.03% 101.65%
99.30% 113.17% 102.27% 100.75%
103.22% 116.42% 108.58% 102.78%
99.38% 117.10% 108.80% 102.85%
102.78% 118.41% 111.20% 103.60%
100.68% 116.62% 115.46% 104.91%
104.17% 118.84% 124.59% 107.60%
95.22% 110.90% 111.89% 103.82%
98.23% 107.45% 112.80% 104.10%
100.90% 108.32% 109.44% 103.05%
98.08% 105.05% 107.61% 102.48%
100.18% 104.41% 110.25% 103.31%
103.17% 105.00% 113.48% 104.30%
99.18% 104.89% 120.48% 106.41%
101.77% 103.77% 127.19% 108.35%
93.75% 97.66% 111.88% 103.81%
100.72% 95.70% 114.10% 104.49%
88.56% 84.61% 104.70% 101.54%
106.36% 86.00% 117.86% 105.63%
102.68% 92.69% 121.44% 106.69%
101.02% 95.62% 114.61% 104.65%
103.35% 97.52% 116.58% 105.25%
94.53% 94.12% 110.90% 103.51%
106.52% 100.74% 120.86% 106.52%
98.48% 95.42% 115.20% 104.83%
98.31% 94.63% 112.45% 103.99%
103.52% 96.55% 115.84% 105.02%
100.73% 103.29% 118.04% 105.68%
101.73% 104.27% 118.07% 105.69%
102.35% 120.92% 118.08% 105.70%
98.96% 112.16% 114.45% 104.60%
91.02% 99.68% 102.59% 100.86%
85.66% 85.54% 87.57% 95.67%
108.16% 88.55% 94.08% 97.99%
GM Return 0.13% 1.53% 2.73% 0.90%
109.67% 101.86%
83.60% 96.48%
76.49% 94.78%
73.73% 94.09%
64.29% 91.54%
55.05% 88.75%
59.78% 90.22%
67.70% 92.50%
73.31% 93.98%
71.85% 93.60%
77.74% 95.09%
78.36% 95.24%
79.65% 95.55%
75.83% 94.62%
77.34% 94.99%
75.21% 94.46%
74.63% 94.32%
73.01% 93.90%
78.80% 95.35%
78.77% 95.34%
71.11% 93.41%
68.78% 92.79%
73.28% 93.97%
70.50% 93.25%
74.13% 94.19%
78.88% 95.37%
73.23% 93.96%
77.55% 95.04%
75.37% 94.50%
77.10% 94.93%
74.43% 94.27%
75.30% 94.48%
76.50% 94.78%
75.22% 94.46%
71.85% 93.60%
66.40% 92.14%
60.97% 90.58%
63.77% 91.39%
61.30% 90.68%
62.91% 91.15%
65.06% 91.76%
68.37% 92.68%
67.44% 92.42%
64.09% 91.49%
57.47% 89.51%
61.66% 90.78%
64.94% 91.73%
65.97% 92.02%
65.51% 91.89%
63.52% 91.32%
67.06% 92.32%
77.09% 94.93%
84.18% 96.61%
85.20% 96.85%
87.31% 97.32%
88.02% 97.48%
88.39% 97.56%
96.24% 99.24%
101.33% 100.26%
100.51% 100.10%
114.78% 102.80%
147.32% 108.06%
161.83% 110.11%
160.39% 109.91%
174.42% 111.77%
208.55% 115.84%
194.84% 114.27%
178.51% 112.29%
165.27% 110.57%
168.51% 111.00%
153.78% 108.99%
151.20% 108.62%
140.98% 107.11%
142.51% 107.34%
137.13% 106.52%
131.75% 105.67%
131.08% 105.56%
137.80% 106.62%
127.59% 104.99%
133.86% 106.01%
147.39% 108.07%
146.84% 107.99%
136.88% 106.48%
132.12% 105.73%
118.59% 103.47%
123.57% 104.32%
127.72% 105.01%
116.10% 103.03%
107.58% 101.47%
103.91% 100.77%
113.02% 102.48%
109.52% 101.84%
110.45% 102.01%
109.44% 101.82%
117.42% 103.26%
124.70% 104.51%
135.01% 106.19%
123.98% 104.39%
127.88% 105.04%
131.10% 105.57%
128.85% 105.20%
126.40% 104.80%
126.64% 104.84%
129.25% 105.26%
143.63% 107.51%
137.79% 106.62%
139.63% 106.90%
135.61% 106.28%
136.56% 106.43%
136.49% 106.42%
138.93% 106.80%
136.69% 106.45%
135.44% 106.26%
130.64% 105.49%
125.72% 104.68%
123.15% 104.25%
120.23% 103.75%
123.71% 104.35%
123.34% 104.29%
124.92% 104.55%
121.39% 103.95%
110.32% 101.98%
109.90% 101.91%
96.10% 99.21%
106.21% 101.21%
103.60% 100.71%
103.30% 100.65%
106.31% 101.23%
99.41% 99.88%
103.96% 100.78%
105.32% 101.04%
101.62% 100.32%
108.05% 101.56%
109.68% 101.86%
110.89% 102.09%
116.91% 103.17%
119.98% 103.71%
103.51% 100.69%
91.94% 98.33%
95.05% 98.99%
0.32% 0.06%
GM Return
Stewart
Monthly Return 1-year return 3-year return Annualized 3-year return 5-year return
109.18%
105.00%
98.30%
103.39%
97.02%
104.77%
100.28%
101.65%
102.82%
98.02%
99.05%
98.55% 118.75%
97.75% 106.32%
102.48% 103.76%
102.25% 107.93%
98.77% 103.12%
103.89% 110.42%
103.37% 108.95%
100.99% 109.73%
104.65% 112.97%
96.99% 106.57%
97.77% 106.29%
105.98% 113.73%
97.67% 112.71%
106.21% 122.46%
102.10% 122.01%
106.35% 126.91%
97.66% 125.49%
105.55% 127.48%
104.30% 128.63%
107.24% 136.58%
100.46% 131.12%
106.88% 144.49%
98.43% 145.47%
91.93% 126.18%
86.96% 112.35% 150.38% 114.57%
99.15% 104.88% 136.56% 110.95%
103.45% 106.27% 134.54% 110.40%
103.14% 103.06% 141.16% 112.18%
101.80% 107.42% 138.99% 111.60%
106.35% 108.24% 152.36% 115.07%
102.38% 106.24% 148.89% 114.19%
102.14% 101.19% 151.65% 114.89%
97.79% 98.49% 145.89% 113.42%
98.40% 90.67% 139.62% 111.77%
102.30% 94.24% 145.72% 113.37%
105.25% 107.90% 154.85% 115.69%
100.71% 124.96% 158.25% 116.53%
86.09% 108.50% 139.37% 111.70%
101.26% 106.21% 137.72% 111.26%
99.23% 102.19% 133.65% 110.15%
102.09% 102.48% 138.14% 111.37%
99.92% 96.29% 132.86% 109.93%
100.66% 94.67% 129.37% 108.96%
92.22% 85.48% 118.13% 105.71%
98.50% 86.10% 111.19% 103.60%
99.27% 86.86% 113.80% 104.40%
99.97% 84.88% 116.37% 105.18%
99.22% 80.02% 108.94% 102.90%
83.36% 66.23% 92.99% 97.60% 124.46%
99.47% 76.53% 87.09% 95.50% 113.39%
103.96% 78.56% 88.67% 96.07% 112.26%
94.64% 74.92% 78.91% 92.41% 108.08%
92.96% 68.23% 75.11% 90.90% 97.18%
96.36% 65.80% 68.57% 88.18% 96.53%
96.42% 63.03% 63.39% 85.90% 88.84%
104.78% 71.61% 61.93% 85.24% 92.82%
96.20% 69.94% 59.31% 84.02% 87.85%
101.84% 71.75% 56.51% 82.67% 87.01%
107.07% 76.84% 61.47% 85.03% 95.04%
106.37% 82.38% 71.12% 89.26% 102.06%
100.03% 98.85% 81.81% 93.53% 103.60%
106.38% 105.71% 87.78% 95.75% 112.75%
99.82% 101.51% 84.70% 94.62% 109.83%
103.52% 111.04% 85.02% 94.73% 111.19%
95.44% 114.00% 79.71% 92.72% 107.45%
101.97% 120.64% 76.43% 91.43% 105.46%
105.84% 132.43% 79.01% 92.45% 107.98%
95.66% 120.91% 74.01% 90.45% 102.28%
99.65% 125.24% 75.42% 91.02% 97.39%
104.24% 128.19% 79.89% 92.79% 104.67%
101.49% 121.51% 79.25% 92.54% 108.65%
101.59% 116.05% 76.49% 91.46% 104.15%
100.20% 116.25% 76.10% 91.30% 106.85%
100.69% 110.03% 89.01% 96.19% 101.30%
102.11% 112.55% 89.75% 96.46% 101.30%
100.99% 109.79% 91.34% 97.03% 96.19%
99.84% 114.85% 89.33% 96.31% 98.34%
101.26% 114.04% 90.52% 96.74% 94.34%
98.76% 106.41% 88.82% 96.12% 89.33%
98.17% 109.21% 94.55% 98.15% 81.78%
96.35% 105.59% 92.49% 97.43% 78.43%
103.05% 104.40% 96.02% 98.66% 75.62%
98.93% 101.77% 95.02% 98.31% 76.01%
100.55% 100.73% 96.29% 98.75% 83.14%
94.68% 95.18% 109.36% 103.03% 90.51%
98.95% 93.53% 108.79% 102.85% 90.33%
97.89% 89.67% 102.44% 100.81% 85.48%
99.83% 88.64% 108.06% 102.62% 82.74%
98.92% 87.83% 114.99% 104.77% 80.40%
100.60% 87.26% 120.05% 106.28% 76.06%
98.93% 87.41% 123.17% 107.19% 73.49%
101.33% 90.22% 119.12% 106.01% 72.91%
104.11% 97.48% 128.91% 108.83% 77.62%
103.83% 98.21% 131.42% 109.54% 81.90%
100.66% 99.92% 123.56% 107.31% 80.59%
97.63% 97.02% 113.41% 104.29% 74.75%
100.09% 102.56% 113.47% 104.30% 74.29%
98.19% 101.77% 104.73% 101.55% 84.73%
103.17% 107.25% 108.24% 102.68% 86.32%
104.95% 112.76% 109.74% 103.15% 91.30%
99.70% 113.64% 114.63% 104.66% 89.16%
100.31% 113.31% 112.76% 104.08% 89.50%
102.88% 117.84% 109.60% 103.10% 91.48%
100.27% 116.60% 114.88% 104.73% 99.47%
101.97% 114.21% 117.55% 105.54% 102.96%
97.98% 107.77% 110.49% 103.38% 101.63%
101.71% 108.90% 110.74% 103.46% 103.39%
105.49% 117.66% 114.98% 104.76% 109.92%
100.95% 118.68% 115.85% 105.03% 133.11%
98.48% 119.03% 113.31% 104.25% 131.79%
97.52% 112.52% 108.21% 102.67% 123.63%
100.93% 108.21% 108.16% 102.65% 131.85%
102.00% 110.71% 110.50% 103.38% 144.68%
101.22% 111.72% 110.46% 103.37% 151.97%
99.66% 108.22% 111.47% 103.68% 157.08%
95.87% 103.48% 108.85% 102.87% 143.73%
100.26% 101.75% 113.27% 104.24% 149.81%
101.26% 105.16% 111.31% 103.64% 148.96%
102.41% 105.89% 115.22% 104.84% 142.48%
101.81% 102.20% 116.66% 105.27% 136.38%
92.95% 94.10% 114.53% 104.63% 126.72%
102.37% 97.81% 118.49% 105.82% 121.94%
101.94% 102.24% 123.38% 107.25% 124.52%
102.12% 103.44% 126.22% 108.07% 122.84%
99.63% 101.04% 127.12% 108.33% 128.22%
104.29% 104.10% 131.78% 109.63% 131.14%
96.97% 101.29% 129.17% 108.91% 120.14%
107.93% 114.02% 137.58% 111.22% 135.55%
100.32% 114.09% 132.58% 109.86% 136.46%
99.44% 112.03% 126.97% 108.29% 130.18%
99.84% 109.21% 125.93% 107.99% 128.06%
100.56% 107.87% 129.71% 109.06% 126.76%
91.27% 105.93% 118.29% 105.76% 115.47%
102.24% 105.79% 123.17% 107.19% 117.25%
96.95% 100.62% 115.75% 104.99% 111.32%
100.30% 98.82% 110.62% 103.42% 110.57%
103.10% 102.27% 114.40% 104.59% 114.18%
94.23% 92.41% 107.47% 102.43% 106.26%
95.88% 91.37% 100.15% 100.05% 103.16%
94.31% 79.84% 94.20% 98.03% 99.09%
98.42% 78.33% 90.92% 96.88% 101.22%
102.66% 80.87% 95.27% 98.40% 100.84%
103.16% 83.56% 96.63% 98.86% 105.15%
102.52% 85.19% 93.91% 97.93% 107.21%
100.18% 93.50% 93.20% 97.68% 113.44%
101.10% 92.46% 95.67% 98.54% 115.90%
100.28% 95.64% 98.39% 99.46% 118.73%
98.83% 94.24% 96.34% 98.76% 117.55%
99.93% 91.34% 94.38% 98.09% 118.74%
96.46% 93.50% 89.94% 96.53% 113.85%
102.70% 100.15% 92.69% 97.50% 118.20%
99.25% 105.41% 95.96% 98.63% 115.78%
102.63% 109.92% 98.22% 99.40% 114.14%
103.42% 110.72% 100.31% 100.10% 113.69%
103.23% 110.79% 101.11% 100.37% 116.59%
102.23% 110.48% 101.52% 100.50% 122.08%
96.22% 106.11% 105.10% 101.67% 117.36%
99.16% 104.14% 101.86% 100.62% 118.59%
103.10% 106.84% 102.81% 100.93% 118.27%
99.08% 107.20% 99.84% 99.95% 111.76%
103.54% 110.69% 103.40% 101.12% 115.66%
101.96% 116.78% 100.90% 100.30% 117.34%
102.23% 116.00% 106.15% 102.01% 116.36%
101.29% 118.24% 99.50% 99.83% 117.40%
99.83% 115.03% 99.03% 99.68% 114.96%
99.96% 111.19% 99.56% 99.85% 117.29%
102.76% 110.41% 102.21% 100.73% 118.20%
95.80% 103.88% 97.76% 99.25% 107.78%
101.05% 116.97% 108.13% 102.64% 107.78%
102.03% 112.55% 107.54% 102.45% 111.28%
100.41% 113.59% 111.30% 103.63% 114.49%
99.67% 110.60% 110.66% 103.43% 113.12%
104.37% 111.09% 111.22% 103.61% 114.93%
92.97% 102.40% 111.56% 103.71% 107.31%
103.14% 102.83% 119.16% 106.02% 110.28%
101.92% 103.18% 128.22% 108.64% 116.73%
101.76% 104.91% 132.06% 109.71% 118.01%
100.15% 105.09% 128.79% 108.80% 116.67%
102.29% 104.26% 127.07% 108.31% 115.96%
100.08% 108.91% 124.02% 107.44% 113.97%
101.82% 119.96% 125.56% 107.88% 124.36%
99.39% 107.58% 123.63% 107.33% 120.93%
98.44% 105.67% 121.85% 106.81% 117.26%
99.69% 105.73% 123.00% 107.15% 114.55%
98.91% 107.61% 122.16% 106.90% 114.11%
101.02% 108.98% 127.54% 108.45% 110.20%
99.04% 104.76% 123.36% 107.25% 112.88%
101.39% 104.06% 125.47% 107.86% 105.59%
93.95% 96.76% 117.12% 105.41% 100.83%
88.52% 86.83% 104.38% 101.44% 93.46%
101.79% 86.16% 102.26% 100.75% 94.67%
0.25% 3.22% 6.79% 2.21% 7.19%
Annualized 5-year return
104.47%
102.55%
102.34%
101.57%
99.43%
99.30%
97.66%
98.52%
97.44%
97.26%
98.99%
100.41%
100.71%
102.43%
101.89%
102.14%
101.45%
101.07%
101.55%
100.45%
99.47%
100.92%
101.67%
100.82%
101.33%
100.26%
100.26%
99.23%
99.67%
98.84%
97.77%
96.06%
95.26%
94.57%
94.66%
96.37%
98.03%
97.99%
96.91%
96.28%
95.73%
94.67%
94.03%
93.88%
95.06%
96.09%
95.78%
94.35%
94.23%
96.74%
97.10%
98.20%
97.73%
97.81%
98.23%
99.89%
100.59%
100.32%
100.67%
101.91%
105.89%
105.68%
104.33%
105.69%
107.67%
108.73%
109.45%
107.53%
108.42%
108.30%
107.34%
106.40%
104.85%
104.05%
104.48%
104.20%
105.10%
105.57%
103.74%
106.27%
106.41%
105.42%
105.07%
104.86%
102.92%
103.23%
102.17%
102.03%
102.69%
101.22%
100.62%
99.82%
100.24%
100.17%
101.01%
101.40%
102.55%
103.00%
103.49%
103.29%
103.50%
102.63%
103.40%
102.97%
102.68%
102.60%
103.12%
104.07%
103.25%
103.47%
103.41%
102.25%
102.95%
103.25%
103.08%
103.26%
102.83%
103.24%
103.40%
101.51%
101.51%
102.16%
102.74%
102.50%
102.82%
101.42%
101.98%
103.14%
103.37%
103.13%
103.01%
102.65%
104.46%
103.87%
103.24%
102.75%
102.67%
101.96%
102.45%
101.09%
100.17%
98.66%
98.91%
1.40%
OnePath Solaris UBS Morphic Voya Stewart
Monthly Return -0.04% 0.38% 0.57% 0.65% 0.22% 0.32%
1-year return 0.04% 6.91% 6.90% 7.64% 3.11% 4.24%
3-year return -0.50% 16.66% 15.96% 18.06% 6.59% 8.84%
AM
Annualized 3-year return -0.25% 5.10% 4.64% 5.60% 1.35% 2.44%
5-year return -1.29% 29.57% 26.90% 33.12% 5.18% 8.62%
Monthly Return -0.05% 0.27% 0.42% 0.59% 0.13% 0.25%

1-year return -0.10% 6.27% 5.41% 7.17% 1.53% 3.22%
3-year return -0.88% 15.80% 13.87% 17.59% 2.73% 6.79%
GM
5-year return -1.88% 28.96% 23.78% 32.45% 0.32% 7.19%
Monthly 1.01% 4.52% 5.37% 3.39% 4.33% 3.75%

1-year 5.25% 11.70% 18.01% 10.23% 16.53% 14.14%
3-year 8.44% 14.32% 21.37% 10.86% 26.51% 20.56%
SD
Annualized 3-year 2.93% 4.28% 6.67% 3.18% 9.22% 6.69%
5-year 10.63% 12.54% 27.99% 13.53% 32.40% 17.53%
Annualized 5-year 2.19% 2.06% 4.70% 2.16% 6.21% 3.34%
A nnualiz e d 5 -ye ar Re t urn vs . R is k
7.00%
6.00% Voya
5.00%
Standard Deviation UBS
4.00%
Stewart
3.00% Morphic
OnePath
2.00%
1.00% Solaris
0.00%
-1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00%
Return
Annual Return over the past 6 years Over the past 1
Date Solaris UBS Morphic Stewart Correlation
30-Apr-2014 10.64% 17.18% 16.06% 5.89%
30-May-2014 16.10% 18.53% 12.95% 2.20%
30-Jun-2014 16.19% 20.92% 5.81% -5.90% Solaris
31-Jul-2014 14.87% 16.63% -2.47% -2.19% UBS
29-Aug-2014 12.88% 14.65% 0.35% 2.24% Morphic
30-Sep-2014 4.79% 5.63% 3.28% 3.44% Stewart
31-Oct-2014 3.79% 4.95% 1.26% 1.04%
28-Nov-2014 1.78% 2.89% 1.04% 4.10% Covariance
31-Dec-2014 -0.18% 3.79% 1.14% 1.29%
30-Jan-2015 8.59% 8.63% 7.39% 14.02%
27-Feb-2015 10.24% 9.99% 11.49% 14.09% Solaris
31-Mar-2015 10.52% 8.17% 16.35% 12.03% UBS
30-Apr-2015 6.66% 7.91% 15.50% 9.21% Morphic
29-May-2015 6.57% 11.15% 15.36% 7.87% Stewart
30-Jun-2015 -0.78% 7.34% 15.86% 5.93%
31-Jul-2015 0.57% 6.55% 22.69% 5.79%
31-Aug-2015 -7.72% -0.04% 16.88% 0.62%
30-Sep-2015 -5.21% 6.07% 9.88% -1.18%
30-Oct-2015 -3.28% 12.46% 13.03% 2.27%
30-Nov-2015 -1.51% 21.02% 5.95% -7.59%
31-Dec-2015 0.73% 26.84% 1.40% -8.63%
29-Jan-2016 -11.02% 17.42% -4.82% -20.16%
29-Feb-2016 -18.25% 1.33% -9.73% -21.68%
31-Mar-2016 -15.02% 5.21% -11.53% -19.13%
29-Apr-2016 -9.88% 11.78% -9.70% -16.44%
31-May-2016 -6.93% 15.56% -8.60% -14.81%
30-Jun-2016 -6.55% 19.01% -7.10% -6.50%
29-Jul-2016 -4.72% 25.21% -10.19% -7.54%
31-Aug-2016 2.37% 25.79% -5.99% -4.36%
30-Sep-2016 4.99% 27.60% -4.84% -5.76%
31-Oct-2016 -3.80% 12.80% -9.65% -8.66%
30-Nov-2016 0.15% 6.79% -5.06% -6.50%
30-Dec-2016 2.63% 1.15% 1.09% 0.15%
31-Jan-2017 8.76% 1.45% 1.62% 5.41%
28-Feb-2017 13.31% 9.31% 4.91% 9.92%
31-Mar-2017 11.71% 3.87% 7.67% 10.72%
28-Apr-2017 9.86% -1.86% 10.33% 10.79%
31-May-2017 2.24% -7.82% 7.67% 10.48%
30-Jun-2017 11.88% -3.48% 9.72% 6.11%
31-Jul-2017 5.46% -11.16% 6.72% 4.14%
31-Aug-2017 7.28% -6.03% 5.51% 6.84%
29-Sep-2017 7.25% -4.88% 11.50% 7.20%
31-Oct-2017 14.52% 4.64% 18.70% 10.69%
30-Nov-2017 12.81% 11.09% 17.54% 16.78%
29-Dec-2017 10.23% 13.50% 10.65% 16.00%
31-Jan-2018 13.72% 18.60% 14.42% 18.24%
28-Feb-2018 12.11% 17.01% 13.40% 15.03%
30-Mar-2018 4.84% 18.20% 11.74% 11.19%
30-Apr-2018 7.45% 20.98% 7.77% 10.41%
31-May-2018 11.79% 25.56% 5.54% 3.88%
29-Jun-2018 28.79% 50.22% 16.15% 16.97%
31-Jul-2018 17.41% 25.52% 14.06% 12.55%
31-Aug-2018 17.94% 25.48% 17.21% 13.59%
28-Sep-2018 16.01% 21.25% 11.88% 10.60%
31-Oct-2018 5.31% 7.24% 0.91% 11.09%
30-Nov-2018 0.19% 2.11% -2.62% 2.40%
31-Dec-2018 0.02% -7.57% -2.48% 2.83%
31-Jan-2019 2.20% -2.56% -2.71% 3.18%
28-Feb-2019 7.44% 2.11% 0.70% 4.91%
29-Mar-2019 11.93% 6.05% 0.93% 5.09%
30-Apr-2019 9.40% 7.00% 3.42% 4.26%
31-May-2019 8.56% 3.16% -1.17% 8.91%
28-Jun-2019 12.83% 14.21% 2.91% 19.96%
31-Jul-2019 11.29% 11.07% 3.36% 7.58%
30-Aug-2019 7.47% 6.41% 0.68% 5.67%
30-Sep-2019 10.21% 11.52% 3.11% 5.73%
31-Oct-2019 16.59% 20.42% 8.85% 7.61%
29-Nov-2019 24.42% 22.66% 14.16% 8.98%
31-Dec-2019 24.91% 32.18% 17.77% 4.76%
31-Jan-2020 23.20% 26.56% 18.83% 4.06%
28-Feb-2020 7.00% 15.52% 11.30% -3.24%
31-Mar-2020 -16.15% -12.56% 2.75% -13.17%
30-Apr-2020 -10.85% -5.06% 0.41% -13.84%
Over the past 1 year Over the past 3 years
Correlation
Solaris UBS Morphic Stewart Solaris UBS

1.00000 Solaris 1.00000
0.95147 1.00000 UBS 0.79547 1.00000
0.68790 0.82150 1.00000 Morphic 0.66699 0.59906
0.73890 0.57726 0.10132 1.00000 Stewart 0.64026 0.48166
Covariance
Solaris UBS Morphic Stewart Solaris UBS

0.01495 Solaris 0.00770
0.014348 0.0152116 UBS 0.00955 0.01872
0.005654 0.006811 0.004519 Morphic 0.00390 0.00546
0.008244 0.0064967 0.000622 0.008327 Stewart 0.00402 0.00472
he past 3 years Over the past 5 years
Correlation
Morphic Stewart Solaris UBS Morphic

Solaris 1.00000
UBS 0.44080 1.00000
1.00000 Morphic 0.61146 0.16993 1.00000
0.43935 1.00000 Stewart 0.80233 0.11938 0.68215
Covariance
Morphic Stewart Solaris UBS Morphic

Solaris 0.01024
UBS 0.00536 0.01443
0.00443 Morphic 0.00543 0.00179 0.00769
0.00209 0.00513 Stewart 0.00808 0.00143 0.00595
ears
Stewart
1.00000
Stewart
0.00989
Annual Return over the past 6 years
Solaris UBS Morphic Stewart Solaris
10.64% 17.18% 16.06% 5.89% UBS
16.10% 18.53% 12.95% 2.20% Morphic
16.19% 20.92% 5.81% -5.90% Stewart
14.87% 16.63% -2.47% -2.19% Sum of weights
12.88% 14.65% 0.35% 2.24%
4.79% 5.63% 3.28% 3.44%
3.79% 4.95% 1.26% 1.04%
1.78% 2.89% 1.04% 4.10%
-0.18% 3.79% 1.14% 1.29% Use excel Solver
8.59% 8.63% 7.39% 14.02%
10.24% 9.99% 11.49% 14.09%
10.52% 8.17% 16.35% 12.03%
PF Weights
6.66% 7.91% 15.50% 9.21%
6.57% 11.15% 15.36% 7.87%
-0.78% 7.34% 15.86% 5.93%
0.57% 6.55% 22.69% 5.79%
-7.72% -0.04% 16.88% 0.62%
-5.21% 6.07% 9.88% -1.18%
-3.28% 12.46% 13.03% 2.27% PF
-1.51% 21.02% 5.95% -7.59%
0.73% 26.84% 1.40% -8.63%
-11.02% 17.42% -4.82% -20.16%
-18.25% 1.33% -9.73% -21.68%
-15.02% 5.21% -11.53% -19.13%
-9.88% 11.78% -9.70% -16.44%
-6.93% 15.56% -8.60% -14.81%
-6.55% 19.01% -7.10% -6.50%
-4.72% 25.21% -10.19% -7.54%
2.37% 25.79% -5.99% -4.36%
4.99% 27.60% -4.84% -5.76%
-3.80% 12.80% -9.65% -8.66%
0.15% 6.79% -5.06% -6.50%
2.63% 1.15% 1.09% 0.15%
8.76% 1.45% 1.62% 5.41%
13.31% 9.31% 4.91% 9.92%
11.71% 3.87% 7.67% 10.72%
9.86% -1.86% 10.33% 10.79%
2.24% -7.82% 7.67% 10.48%
11.88% -3.48% 9.72% 6.11%
5.46% -11.16% 6.72% 4.14%
7.28% -6.03% 5.51% 6.84%
7.25% -4.88% 11.50% 7.20%
14.52% 4.64% 18.70% 10.69%
12.81% 11.09% 17.54% 16.78%
10.23% 13.50% 10.65% 16.00%
13.72% 18.60% 14.42% 18.24%
12.11% 17.01% 13.40% 15.03%
4.84% 18.20% 11.74% 11.19%
7.45% 20.98% 7.77% 10.41%
11.79% 25.56% 5.54% 3.88%
28.79% 50.22% 16.15% 16.97%
17.41% 25.52% 14.06% 12.55%
17.94% 25.48% 17.21% 13.59%
16.01% 21.25% 11.88% 10.60%
5.31% 7.24% 0.91% 11.09%
0.19% 2.11% -2.62% 2.40%
0.02% -7.57% -2.48% 2.83%
2.20% -2.56% -2.71% 3.18%
7.44% 2.11% 0.70% 4.91%
11.93% 6.05% 0.93% 5.09%
9.40% 7.00% 3.42% 4.26%
8.56% 3.16% -1.17% 8.91%
12.83% 14.21% 2.91% 19.96%
11.29% 11.07% 3.36% 7.58%
7.47% 6.41% 0.68% 5.67%
10.21% 11.52% 3.11% 5.73%
16.59% 20.42% 8.85% 7.61%
24.42% 22.66% 14.16% 8.98%
24.91% 32.18% 17.77% 4.76%
23.20% 26.56% 18.83% 4.06%
7.00% 15.52% 11.30% -3.24%
-16.15% -12.56% 2.75% -13.17%
-10.85% -5.06% 0.41% -13.84%
Mean Weights Variance covariance matrix
6.05% 0.388735305 Solaris UBS Morphic Stewart
10.86% 1.719171499 Solaris 0.009078282 0.00489615 0.004693703 0.00662856
5.63% 1.111780198 UBS 0.00489615 0.012470422 0.001603483 0.00093328
3.28% -2.219687 Morphic 0.004693703 0.001603483 0.007111846 0.005331456
of weights 1 Stewart 0.00662856 0.00093328 0.005331456 0.008790461
1 2 3 4 5 6 7
W_Solaris -0.38029431 -0.33981908 -0.29934383 -0.25886859 -0.21839336 -0.17791811 -0.13744287
W_UBS -0.20129518 -0.10021798 0.00085923 0.101936413 0.203013584 0.304090792 0.40516798
W_Morphic 0.12718327 0.179004131 0.230824968 0.282645903 0.334466885 0.386287719 0.438108639
W_Stewart 1.454406229 1.261032923 1.067659627 0.874286275 0.680912892 0.487539599 0.294166255
STD 0.1218 0.1076 0.0946 0.0835 0.0750 0.0702 0.0697

Mean 0.01 0.02 0.03 0.04 0.05 0.06 0.07
Var 0.01483 0.01158 0.00895 0.00697 0.00563 0.00493 0.00486
Scenarios Var STD Mean Sharpe ratio

1 0.01483 0.1218 0.01 0.00903
2 0.01158 0.1076 0.02 0.10317
3 0.00895 0.0946 0.03 0.22298
0.25
4 0.00697 0.0835 0.04 0.37243
5 0.00563 0.0750 0.05 0.54770
6 0.00493 0.0702 0.06 0.72793
0.2
7 0.00486 0.0697 0.07 0.87611
8 0.00544 0.0737 0.08 0.96410
9 0.00665 0.0816 0.09 0.99431 0.15
Return
10 0.00851 0.0922 0.1 0.98779

11 0.01100 0.1049 0.11 0.96404
Highest SR
12 0.01413 0.1189 0.12 0.93467 0.1
13 0.01790 0.1338 0.13 0.90516

Lowest STD
14 0.02231 0.1494 0.14 0.87774
0.05
15 0.02736 0.1654 0.15 0.85308
16 0.03304 0.1818 0.16 0.83122
17 0.03937 0.1984 0.17 0.81191 0
18 0.04634 0.2153 0.18 0.79485 0.0600 0.0800 0.100
0
0.0600 0.0800 0.100
19 0.05394 0.2323 0.19 0.77975

20 0.06219 0.2494 0.2 0.76633
Port Mean 0.200000
Port Var 0.062185
Port STD 0.249369
rF 0.89%
Sharpe Ratio 0.766333
8 9 10 11 12 13 14 15
-0.09696763 -0.05649238 -0.01601714 0.024458097 0.064933341 0.105408586 0.145883832 0.18635907
0.50624517 0.607322377 0.708399575 0.809476757 0.910553953 1.01163115 1.112708349 1.213785538
0.489929545 0.541750384 0.593571258 0.645392197 0.69721308 0.749033959 0.800854831 0.852675743
0.100792919 -0.09258038 -0.2859537 -0.47932705 -0.67270037 -0.86607369 -1.05944701 -1.25282035
0.0737 0.0816 0.0922 0.1049 0.1189 0.1338 0.1494 0.1654

0.08 0.09 0.1 0.11 0.12 0.13 0.14 0.15
0.00544 0.00665 0.00851 0.01100 0.01413 0.01790 0.02231 0.02736
Efficient Frontier
.25
0.2
.15
Highest SR
0.1
Lowest STD
.05
0
0.0600 0.0800 0.1000 0.1200 0.1400 0.1600 0.1800 0.2000 0.2200 0.2400 0.2600
Standard deviation
0
0.0600 0.0800 0.1000 0.1200 0.1400 0.1600 0.1800 0.2000 0.2200 0.2400 0.2600
Standard deviation
16 17 18 19 20
0.226834329 0.267309539 0.30778478 0.348260164 0.388735305
1.314862703 1.415939907 1.517017123 1.61809436 1.719171499
0.904496705 0.956317605 1.008138424 1.05995901 1.111780198
-1.44619374 -1.63956705 -1.83294033 -2.02631353 -2.219687
0.1818 0.1984 0.2153 0.2323 0.2494

0.16 0.17 0.18 0.19 0.2
0.03304 0.03937 0.04634 0.05394 0.06219
10.64% 17.18% 16.06% 5.89% UBS
16.10% 18.53% 12.95% 2.20% Morphic
16.19% 20.92% 5.81% -5.90% Stewart
14.87% 16.63% -2.47% -2.19%
12.88% 14.65% 0.35% 2.24%
4.79% 5.63% 3.28% 3.44% Equaly Weighted Portfolio
3.79% 4.95% 1.26% 1.04%
1.78% 2.89% 1.04% 4.10% Solaris
-0.18% 3.79% 1.14% 1.29% UBS
8.59% 8.63% 7.39% 14.02% Morphic
10.24% 9.99% 11.49% 14.09% Stewart
10.52% 8.17% 16.35% 12.03% Sum
6.66% 7.91% 15.50% 9.21%
6.57% 11.15% 15.36% 7.87%
-0.78% 7.34% 15.86% 5.93% Portfolio return
0.57% 6.55% 22.69% 5.79% Portfolio variance
-7.72% -0.04% 16.88% 0.62% Portfolio STD
-5.21% 6.07% 9.88% -1.18%
-3.28% 12.46% 13.03% 2.27% rF
-1.51% 21.02% 5.95% -7.59% Sharpe ratio
0.73% 26.84% 1.40% -8.63%
-11.02% 17.42% -4.82% -20.16%
-18.25% 1.33% -9.73% -21.68%
-15.02% 5.21% -11.53% -19.13%
-9.88% 11.78% -9.70% -16.44%
-6.93% 15.56% -8.60% -14.81%
-6.55% 19.01% -7.10% -6.50%
-4.72% 25.21% -10.19% -7.54%
2.37% 25.79% -5.99% -4.36%
4.99% 27.60% -4.84% -5.76%
-3.80% 12.80% -9.65% -8.66%
0.15% 6.79% -5.06% -6.50%
2.63% 1.15% 1.09% 0.15%
8.76% 1.45% 1.62% 5.41%
13.31% 9.31% 4.91% 9.92%
11.71% 3.87% 7.67% 10.72%
9.86% -1.86% 10.33% 10.79%
2.24% -7.82% 7.67% 10.48%
11.88% -3.48% 9.72% 6.11%
5.46% -11.16% 6.72% 4.14%
7.28% -6.03% 5.51% 6.84%
7.25% -4.88% 11.50% 7.20%
14.52% 4.64% 18.70% 10.69%
12.81% 11.09% 17.54% 16.78%
10.23% 13.50% 10.65% 16.00%
13.72% 18.60% 14.42% 18.24%
12.11% 17.01% 13.40% 15.03%
4.84% 18.20% 11.74% 11.19%
7.45% 20.98% 7.77% 10.41%
11.79% 25.56% 5.54% 3.88%
28.79% 50.22% 16.15% 16.97%
17.41% 25.52% 14.06% 12.55%
17.94% 25.48% 17.21% 13.59%
16.01% 21.25% 11.88% 10.60%
5.31% 7.24% 0.91% 11.09%
0.19% 2.11% -2.62% 2.40%
0.02% -7.57% -2.48% 2.83%
2.20% -2.56% -2.71% 3.18%
7.44% 2.11% 0.70% 4.91%
11.93% 6.05% 0.93% 5.09%
9.40% 7.00% 3.42% 4.26%
8.56% 3.16% -1.17% 8.91%
12.83% 14.21% 2.91% 19.96%
11.29% 11.07% 3.36% 7.58%
7.47% 6.41% 0.68% 5.67%
10.21% 11.52% 3.11% 5.73%
16.59% 20.42% 8.85% 7.61%
24.42% 22.66% 14.16% 8.98%
24.91% 32.18% 17.77% 4.76%
23.20% 26.56% 18.83% 4.06%
7.00% 15.52% 11.30% -3.24%
-16.15% -12.56% 2.75% -13.17%
-10.85% -5.06% 0.41% -13.84%
Mean Variance Covariance Matrix
6.05% Solaris UBS Morphic Stewart
10.86% Solaris 0.009078282 0.00489615 0.004693703 0.00662856
5.63% UBS 0.00489615 0.012470422 0.001603483 0.00093328
3.28% Morphic 0.004693703 0.001603483 0.007111846 0.005331456
Stewart 0.00662856 0.00093328 0.005331456 0.008790461
Weighted Portfolio
Weights (W) ER W*ER VAR W^2*VAR
0.25 6.05% 0.015122 0.009204 0.000575
0.25 10.86% 0.027151 0.012644 0.000790
Equally Portfolio a
0.25 5.63% 0.014073 0.007211 0.000451
0.25 3.28% 0.008200 0.008913 0.000557
1 0.064546 0.002373
Stewart Sola
25% 25%
0.064546
0.005352
0.073154 Morphic UB
25% 25%
0.0089
0.760674
Solaris UBS Morphic

ally Portfolio allocation
Stewart Solaris
25% 25%
Morphic UBS
25% 25%
Solaris UBS Morphic Stewart

10.64% 17.18% 16.06% 5.89% UBS
16.10% 18.53% 12.95% 2.20% Morphic
16.19% 20.92% 5.81% -5.90% Stewart
14.87% 16.63% -2.47% -2.19%
12.88% 14.65% 0.35% 2.24%
4.79% 5.63% 3.28% 3.44% Optimized Portfolio
3.79% 4.95% 1.26% 1.04%
1.78% 2.89% 1.04% 4.10% Solaris
-0.18% 3.79% 1.14% 1.29% UBS
8.59% 8.63% 7.39% 14.02% Morphic
10.24% 9.99% 11.49% 14.09% Stewart
10.52% 8.17% 16.35% 12.03% Sum
6.66% 7.91% 15.50% 9.21%
6.57% 11.15% 15.36% 7.87%
-0.78% 7.34% 15.86% 5.93% Portfolio return
0.57% 6.55% 22.69% 5.79% Portfolio variance
-7.72% -0.04% 16.88% 0.62% Portfolio STD
-5.21% 6.07% 9.88% -1.18%
-3.28% 12.46% 13.03% 2.27% rF
-1.51% 21.02% 5.95% -7.59% Sharpe ratio
0.73% 26.84% 1.40% -8.63%
-11.02% 17.42% -4.82% -20.16%
-18.25% 1.33% -9.73% -21.68% Objective and contraints
-15.02% 5.21% -11.53% -19.13% Return objective
-9.88% 11.78% -9.70% -16.44% Risk objective
-6.93% 15.56% -8.60% -14.81% Short selling
-6.55% 19.01% -7.10% -6.50% Special needs
-4.72% 25.21% -10.19% -7.54%
2.37% 25.79% -5.99% -4.36%
4.99% 27.60% -4.84% -5.76% Fund
-3.80% 12.80% -9.65% -8.66%
0.15% 6.79% -5.06% -6.50%
2.63% 1.15% 1.09% 0.15% Solaris
8.76% 1.45% 1.62% 5.41% UBS
13.31% 9.31% 4.91% 9.92% Morphic
11.71% 3.87% 7.67% 10.72% Stewart
9.86% -1.86% 10.33% 10.79% Sum
2.24% -7.82% 7.67% 10.48%
11.88% -3.48% 9.72% 6.11%
5.46% -11.16% 6.72% 4.14%
7.28% -6.03% 5.51% 6.84%
7.25% -4.88% 11.50% 7.20%
14.52% 4.64% 18.70% 10.69%
12.81% 11.09% 17.54% 16.78%
10.23% 13.50% 10.65% 16.00%
13.72% 18.60% 14.42% 18.24%
12.11% 17.01% 13.40% 15.03%
4.84% 18.20% 11.74% 11.19%
7.45% 20.98% 7.77% 10.41%
11.79% 25.56% 5.54% 3.88%
28.79% 50.22% 16.15% 16.97%
17.41% 25.52% 14.06% 12.55%
17.94% 25.48% 17.21% 13.59%
16.01% 21.25% 11.88% 10.60%
5.31% 7.24% 0.91% 11.09%
0.19% 2.11% -2.62% 2.40%
0.02% -7.57% -2.48% 2.83%
2.20% -2.56% -2.71% 3.18%
7.44% 2.11% 0.70% 4.91%
11.93% 6.05% 0.93% 5.09%
9.40% 7.00% 3.42% 4.26%
8.56% 3.16% -1.17% 8.91%
12.83% 14.21% 2.91% 19.96%
11.29% 11.07% 3.36% 7.58%
7.47% 6.41% 0.68% 5.67%
10.21% 11.52% 3.11% 5.73%
16.59% 20.42% 8.85% 7.61%
24.42% 22.66% 14.16% 8.98%
24.91% 32.18% 17.77% 4.76%
23.20% 26.56% 18.83% 4.06%
7.00% 15.52% 11.30% -3.24%
-16.15% -12.56% 2.75% -13.17%
-10.85% -5.06% 0.41% -13.84%
Mean Variance Covariance Matrix
6.05% Solaris UBS Morphic
10.86% Solaris 0.009078281505 0.0048961503 0.004693703
5.63% UBS 0.0048961503 0.0124704216 0.001603483
3.28% Morphic 0.004693702996 0.0016034828 0.007111846
Stewart 0.006628560247 0.0009332799 0.005331456
ized Portfolio
Weights (W) ER W*ER VAR W^2*VAR
0.25 6.05% 0.015122 0.009204 0.000575
0.299666813 10.86% 0.032545 0.012644 0.001135
0.423910384 5.63% 0.023862 0.007211 0.001296
0.026422803 3.28% 0.000867 0.008913 0.000006
1 0.072396 0.003013
0.072396 Comparison
0.005329 Equaly Optimized
0.073000 Weighted Port Port
Portfolio return 6.455% 7.240%
0.0089 Portfolio variance 0.535% 0.533%
0.869813 Portfolio STD 7.315% 7.300%
Sharpe ratio 0.760674 0.869813
jective and contraints

>= 7%
<= 7.5%
No
Risk-averse Thus, prefer high return, low risk
700000 (AUD)
Weights (W) Allocation (AUD)

0.2500 175000
0.2997 209767
0.4239 296737
0.0264 18496
1.0000 700000
Stewart
0.00662856
0.00093328
0.005331456
0.008790461
Opti mized Portf olio allocati on
Stewart
2.64%
Solaris
25%
Morphic
42.39%
UBS
n 29.97%
Benchmark
7.000%
0.486%
6.974%
0.876106
Monthly return over the past 6 years
30-Apr-2014 1.108% -0.732% 0.754% 2.410%
30-May-2014 0.939% -0.725% 3.912% 1.812%
30-Jun-2014 -2.090% -1.434% -9.700% -7.053%
31-Jul-2014 2.721% 4.113% -0.726% 2.370%
29-Aug-2014 0.563% 2.966% 1.279% 1.937%
30-Sep-2014 -4.700% -5.292% 3.198% 2.123%
31-Oct-2014 4.099% 1.316% 1.123% -0.370%
28-Nov-2014 -2.492% -3.503% 5.240% 4.285%
31-Dec-2014 -0.448% 0.779% 1.897% -3.030%
30-Jan-2015 2.998% 2.882% 4.421% 7.928%
27-Feb-2015 6.840% 9.072% 3.083% 0.320%
31-Mar-2015 1.039% -0.795% 1.613% -0.564%
30-Apr-2015 -2.427% -0.968% 0.020% -0.162%
29-May-2015 0.855% 2.254% 3.788% 0.562%
30-Jun-2015 -8.843% -4.810% -9.313% -8.731%
31-Jul-2015 4.121% 3.340% 5.130% 2.244%
31-Aug-2015 -7.731% -3.398% -3.517% -3.053%
30-Sep-2015 -2.102% 0.494% -2.984% 0.304%
30-Oct-2015 6.212% 7.417% 4.022% 3.103%
30-Nov-2015 -0.705% 3.841% -1.354% -5.770%
31-Dec-2015 1.818% 5.631% -2.475% -4.119%
29-Jan-2016 -9.012% -4.758% -1.985% -5.695%
29-Feb-2016 -1.850% -5.877% -2.236% -1.581%
31-Mar-2016 5.030% 3.000% -0.407% 2.663%
29-Apr-2016 3.480% 5.215% 2.088% 3.161%
31-May-2016 4.159% 5.718% 5.051% 2.522%
30-Jun-2016 -8.473% -1.974% -7.823% 0.180%
29-Jul-2016 6.162% 8.727% 1.628% 1.102%
31-Aug-2016 -0.871% -2.952% 0.992% 0.284%
30-Sep-2016 0.411% 1.943% -1.791% -1.167%
31-Oct-2016 -2.682% -5.038% -1.243% -0.072%
30-Nov-2016 3.372% -1.698% 3.656% -3.539%
30-Dec-2016 4.340% 0.052% 3.848% 2.704%
31-Jan-2017 -3.580% -4.472% -1.467% -0.746%
28-Feb-2017 2.256% 1.418% 0.929% 2.629%
31-Mar-2017 3.548% -2.127% 2.208% 3.417%
28-Apr-2017 1.766% -0.587% 4.611% 3.226%
31-May-2017 -3.070% -0.705% 2.516% 2.231%
30-Jun-2017 0.162% 2.637% -6.069% -3.778%
31-Jul-2017 0.075% 0.097% -1.147% -0.838%
31-Aug-2017 0.892% 3.053% -0.155% 3.099%
29-Sep-2017 0.409% 3.670% 3.783% -0.923%
31-Oct-2017 4.184% 5.117% 5.133% 3.537%
30-Nov-2017 1.944% 4.972% 2.644% 1.956%
29-Dec-2017 2.082% 2.513% -2.233% 2.232%
31-Jan-2018 -0.579% -0.206% 1.910% 1.289%
28-Feb-2018 0.878% 0.067% 0.032% -0.167%
29-Mar-2018 -3.426% -1.282% 0.720% -0.043%
30-Apr-2018 4.669% 2.008% 0.907% 2.760%
31-May-2018 0.913% 3.484% 0.405% -4.198%
29-Jun-2018 8.673% 7.342% 3.418% 1.050%
31-Jul-2018 -3.910% -7.386% -3.071% 2.032%
31-Aug-2018 1.441% 3.277% 2.732% 0.408%
28-Sep-2018 -1.317% -0.125% -0.984% -0.333%
31-Oct-2018 -5.800% -7.526% -5.440% 4.373%
30-Nov-2018 -3.231% -0.052% -0.997% -7.029%
31-Dec-2018 -0.062% -8.286% -3.711% 3.142%
31-Jan-2019 3.920% 6.171% 3.357% 1.917%
28-Feb-2019 6.507% 5.434% 3.682% 1.761%
29-Mar-2019 0.655% 1.916% 0.986% 0.152%
30-Apr-2019 2.463% 4.107% 3.538% 2.286%
31-May-2019 0.146% -0.261% -4.211% 0.081%
28-Jun-2019 8.345% 12.745% 3.956% 1.823%
31-Jul-2019 -1.098% -5.013% 1.026% -0.613%
30-Aug-2019 -2.171% -1.637% 0.072% -1.556%
30-Sep-2019 1.280% 3.384% 1.402% -0.313%
31-Oct-2019 -0.371% 1.873% -0.178% -1.089%
29-Nov-2019 3.477% 2.007% 3.839% 1.024%
31-Dec-2019 -2.099% -1.631% -0.672% -0.960%
31-Jan-2020 4.761% 2.106% 4.291% 1.385%
28-Feb-2020 -7.974% -4.171% -2.885% -6.049%
31-Mar-2020 -22.595% -26.129% -6.778% -11.479%
30-Apr-2020 9.742% 16.123% 1.187% 1.790%
Optimized Port Solaris UBS Morphic Stewart
Weights 0.2500 0.2997 0.4239 0.0264 Portfolio return
30-Apr-2014 0.2771% -0.2194% 0.3197% 0.0637% 0.4410%
30-May-2014 0.2349% -0.2172% 1.6582% 0.0479% 1.7238%
30-Jun-2014 -0.5224% -0.4297% -4.1117% -0.1864% -5.2502%
31-Jul-2014 0.6803% 1.2325% -0.3079% 0.0626% 1.6676%
29-Aug-2014 0.1406% 0.8888% 0.5424% 0.0512% 1.6230%
30-Sep-2014 -1.1751% -1.5859% 1.3556% 0.0561% -1.3494%
31-Oct-2014 1.0248% 0.3942% 0.4762% -0.0098% 1.8855%
28-Nov-2014 -0.6230% -1.0499% 2.2214% 0.1132% 0.6618%
31-Dec-2014 -0.1119% 0.2336% 0.8043% -0.0801% 0.8458%
30-Jan-2015 0.7495% 0.8637% 1.8742% 0.2095% 3.6968%
27-Feb-2015 1.7100% 2.7186% 1.3071% 0.0085% 5.7442%
31-Mar-2015 0.2597% -0.2383% 0.6838% -0.0149% 0.6902%
30-Apr-2015 -0.6067% -0.2900% 0.0085% -0.0043% -0.8925%
29-May-2015 0.2137% 0.6756% 1.6056% 0.0149% 2.5097%
30-Jun-2015 -2.2107% -1.4413% -3.9479% -0.2307% -7.8307%
31-Jul-2015 1.0303% 1.0010% 2.1747% 0.0593% 4.2653%
31-Aug-2015 -1.9328% -1.0182% -1.4909% -0.0807% -4.5225%
30-Sep-2015 -0.5255% 0.1479% -1.2650% 0.0080% -1.6345%
30-Oct-2015 1.5530% 2.2228% 1.7050% 0.0820% 5.5627%
30-Nov-2015 -0.1763% 1.1511% -0.5740% -0.1524% 0.2484%
31-Dec-2015 0.4545% 1.6875% -1.0493% -0.1088% 0.9840%
29-Jan-2016 -2.2531% -1.4258% -0.8414% -0.1505% -4.6707%
29-Feb-2016 -0.4625% -1.7610% -0.9477% -0.0418% -3.2130%
31-Mar-2016 1.2576% 0.8989% -0.1725% 0.0704% 2.0543%
29-Apr-2016 0.8701% 1.5628% 0.8850% 0.0835% 3.4014%
31-May-2016 1.0397% 1.7136% 2.1410% 0.0666% 4.9609%
30-Jun-2016 -2.1183% -0.5915% -3.3161% 0.0047% -6.0212%
29-Jul-2016 1.5405% 2.6152% 0.6901% 0.0291% 4.8749%
31-Aug-2016 -0.2178% -0.8845% 0.4205% 0.0075% -0.6743%
30-Sep-2016 0.1027% 0.5821% -0.7594% -0.0308% -0.1054%
31-Oct-2016 -0.6706% -1.5098% -0.5268% -0.0019% -2.7091%
30-Nov-2016 0.8430% -0.5087% 1.5499% -0.0935% 1.7907%
30-Dec-2016 1.0850% 0.0154% 1.6313% 0.0714% 2.8032%
31-Jan-2017 -0.8949% -1.3402% -0.6220% -0.0197% -2.8767%
28-Feb-2017 0.5639% 0.4251% 0.3937% 0.0695% 1.4522%
31-Mar-2017 0.8869% -0.6375% 0.9359% 0.0903% 1.2757%
28-Apr-2017 0.4416% -0.1759% 1.9548% 0.0852% 2.3058%
31-May-2017 -0.7676% -0.2113% 1.0665% 0.0589% 0.1465%
30-Jun-2017 0.0405% 0.7901% -2.5726% -0.0998% -1.8418%
31-Jul-2017 0.0187% 0.0291% -0.4863% -0.0221% -0.4606%
31-Aug-2017 0.2230% 0.9148% -0.0658% 0.0819% 1.1539%
29-Sep-2017 0.1022% 1.0998% 1.6038% -0.0244% 2.7813%
31-Oct-2017 1.0460% 1.5333% 2.1761% 0.0935% 4.8488%
30-Nov-2017 0.4861% 1.4901% 1.1210% 0.0517% 3.1488%
29-Dec-2017 0.5205% 0.7531% -0.9465% 0.0590% 0.3860%
31-Jan-2018 -0.1447% -0.0616% 0.8098% 0.0340% 0.6375%
28-Feb-2018 0.2194% 0.0201% 0.0136% -0.0044% 0.2486%
29-Mar-2018 -0.8566% -0.3842% 0.3053% -0.0011% -0.9366%
30-Apr-2018 1.1673% 0.6018% 0.3844% 0.0729% 2.2264%
31-May-2018 0.2283% 1.0439% 0.1717% -0.1109% 1.3331%
29-Jun-2018 2.1682% 2.2001% 1.4487% 0.0277% 5.8448%
31-Jul-2018 -0.9774% -2.2133% -1.3017% 0.0537% -4.4388%
31-Aug-2018 0.3602% 0.9821% 1.1583% 0.0108% 2.5113%
28-Sep-2018 -0.3292% -0.0373% -0.4170% -0.0088% -0.7923%
31-Oct-2018 -1.4501% -2.2552% -2.3060% 0.1156% -5.8956%
30-Nov-2018 -0.8079% -0.0155% -0.4228% -0.1857% -1.4318%
31-Dec-2018 -0.0155% -2.4829% -1.5729% 0.0830% -3.9884%
31-Jan-2019 0.9800% 1.8493% 1.4231% 0.0506% 4.3030%
28-Feb-2019 1.6267% 1.6285% 1.5608% 0.0465% 4.8626%
29-Mar-2019 0.1638% 0.5742% 0.4180% 0.0040% 1.1600%
30-Apr-2019 0.6158% 1.2308% 1.4998% 0.0604% 3.4068%
31-May-2019 0.0365% -0.0782% -1.7849% 0.0021% -1.8245%
28-Jun-2019 2.0862% 3.8192% 1.6771% 0.0482% 7.6306%
31-Jul-2019 -0.2746% -1.5021% 0.4350% -0.0162% -1.3580%
30-Aug-2019 -0.5428% -0.4906% 0.0305% -0.0411% -1.0440%
30-Sep-2019 0.3201% 1.0142% 0.5942% -0.0083% 1.9202%
31-Oct-2019 -0.0927% 0.5611% -0.0756% -0.0288% 0.3641%
29-Nov-2019 0.8692% 0.6015% 1.6273% 0.0271% 3.1251%
31-Dec-2019 -0.5246% -0.4888% -0.2850% -0.0254% -1.3238%
31-Jan-2020 1.1903% 0.6311% 1.8189% 0.0366% 3.6768%
28-Feb-2020 -1.9934% -1.2500% -1.2229% -0.1598% -4.6262%
31-Mar-2020 -5.6487% -7.8299% -2.8733% -0.3033% -16.6553%
30-Apr-2020 2.4354% 4.8314% 0.5030% 0.0473% 7.8172%
Return Risk
1-month 7.8172% 17.30%
6-month -1.3310% 8.65%
1-year -0.1915% 6.42%
3-year 0.4699% 4.37%
6-year 0.4471% 3.87%

Port Mana 3 1 1

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Port Mana 3 1 1

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Date Offer Bid Dividends NAV

30-Sep-2003 1.003200 1.003200 1.003200

-0.04% 0.04% -0.50% -0.25%

-1.29% -0.35% SUMMARY OUTPUT

Coefficients Standard Error t Stat P-value

0.38% 6.91% 16.66% 5.10%

29.57% 5.24% SUMMARY OUTPUT

Coefficients Standard Error t Stat P-value

0.57% 6.90% 15.96% 4.64%

26.90% 4.46% SUMMARY OUTPUT

Coefficients Standard Error t Stat P-value

0.65% 7.64% 18.06%

5.60% 33.12% 5.80%

Coefficients Standard Error

t Stat P-value Lower 95% Upper 95%

Average 0.22% 3.11%

6.59% 1.35% 5.18% 0.26%

Coefficients Standard Error t Stat

P-value Lower 95%Upper 95%Lower 95.0%Upper 95.0%Upper 95.0%

Average 0.32% 4.24%

8.84% 2.44% 8.62% 1.45%

Coefficients Standard Error t Stat P-value Lower 95%

Upper 95%Lower 95.0%

GM Return -0.05% -0.10% -0.88% -0.30%

Monthly Return -0.05% 0.27% 0.42% 0.59% 0.13% 0.25%

Monthly 1.01% 4.52% 5.37% 3.39% 4.33% 3.75%

Solaris UBS Morphic Stewart Solaris UBS

Solaris UBS Morphic Stewart Solaris UBS

Morphic Stewart Solaris UBS Morphic

Morphic Stewart Solaris UBS Morphic

STD 0.1218 0.1076 0.0946 0.0835 0.0750 0.0702 0.0697

Scenarios Var STD Mean Sharpe ratio

10 0.00851 0.0922 0.1 0.98779

13 0.01790 0.1338 0.13 0.90516

19 0.05394 0.2323 0.19 0.77975

0.0737 0.0816 0.0922 0.1049 0.1189 0.1338 0.1494 0.1654

0.1818 0.1984 0.2153 0.2323 0.2494

Solaris UBS Morphic

Solaris UBS Morphic Stewart

jective and contraints

Weights (W) Allocation (AUD)

Opti mized Portf olio allocati on

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