These spreadsheet exhibits relate to the case Selecting Mutual Funds for Retirement

Accounts (A), Case #KE1056.

©2018 by the Kellogg School of Management at Northwestern University. This case was
prepared by Professor Phillip A. Braun. Cases are developed solely as the basis for
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 Vanguard Vanguard Total
Vanguard Vanguard Total
Extended International
Institutional Bond Market
Market Index Stock Index
Index Fund Index Fund
Fund Fund

Date VIEIX VINIX VBTIX VTSNX

200907 8.96% 7.58% 1.44% 7.82%
200908 3.75% 3.61% 1.03% 3.63%
200909 6.07% 3.72% 1.20% 4.23%
200910 -5.82% -1.86% 0.43% -2.57%
200911 3.88% 6.00% 1.37% 5.63%
200912 7.45% 1.95% -1.66% 2.86%
201001 -3.37% -3.60% 1.58% -3.50%
201002 4.81% 3.10% 0.21% 3.36%
201003 7.55% 6.04% -0.07% 6.27%
201004 5.00% 1.57% 1.07% 2.17%
201005 -7.52% -7.99% 0.89% -8.00%
201006 -7.06% -5.23% 1.62% -5.66%
201007 7.10% 7.01% 0.95% 6.99%
201008 -5.73% -4.52% 1.49% -4.75%
201009 11.38% 8.92% 0.00% 9.47%
201010 4.24% 3.79% 0.37% 3.94%
201011 3.16% 0.01% -0.56% 0.58%
201012 7.33% 6.69% -1.13% 6.81%
201101 1.43% 2.37% 0.10% 0.71%
201102 4.73% 3.42% 0.17% 2.72%
201103 2.19% 0.04% 0.01% -0.42%
201104 2.77% 2.96% 1.33% 5.26%
201105 -1.35% -1.13% 1.32% -2.86%
201106 -2.31% -1.67% -0.38% -1.49%
201107 -3.18% -2.04% 1.59% -1.56%
201108 -8.31% -5.44% 1.48% -8.44%
201109 -11.02% -7.03% 0.90% -12.26%
201110 14.27% 10.93% 0.17% 10.16%
201111 -0.52% -0.22% -0.29% -2.85%
201112 -0.11% 1.02% 1.09% -2.64%
201201 7.55% 4.48% 0.89% 7.34%
201202 4.07% 4.33% -0.03% 5.13%
201203 2.25% 3.29% -0.57% -0.73%
201204 -0.82% -0.63% 1.15% -1.82%
201205 -7.03% -6.01% 0.96% -11.09%
201206 3.13% 4.12% 0.05% 6.02%
201207 -0.61% 1.39% 1.40% 0.42%
201208 3.67% 2.25% 0.04% 2.75%
201209 2.45% 2.59% 0.12% 3.63%
201210 -1.28% -1.86% 0.12% 0.58%
201211 1.68% 0.58% 0.20% 1.80%
201212 2.78% 0.91% -0.19% 4.21%
201301 6.78% 5.19% -0.70% 3.34%
201302 1.00% 1.35% 0.55% -1.20%
201303 4.73% 3.74% 0.09% 0.78%
201304 0.60% 1.93% 0.92% 3.58%
201305 2.84% 2.34% -1.70% -2.95%
201306 -1.01% -1.34% -1.64% -3.75%
201307 7.00% 5.08% 0.21% 4.59%
201308 -2.82% -2.90% -0.63% -1.66%
201309 6.00% 3.14% 0.97% 7.21%
201310 2.84% 4.60% 0.79% 3.46%
201311 2.48% 3.04% -0.34% 0.10%
201312 3.02% 2.53% -0.64% 1.26%
201401 -1.85% -3.46% 1.56% -4.75%
201402 5.41% 4.57% 0.49% 5.42%
201403 -0.70% 0.83% -0.14% 0.40%
201404 -2.54% 0.73% 0.78% 1.30%
201405 1.50% 2.34% 1.06% 1.90%
201406 4.45% 2.07% 0.12% 1.74%
201407 -4.40% -1.38% -0.25% -1.57%
201408 4.95% 4.00% 1.14% 1.06%
201409 -5.10% -1.40% -0.71% -5.01%
201410 4.09% 2.44% 0.95% -0.28%
201411 1.30% 2.69% 0.66% -0.28%
201412 0.94% -0.26% 0.10% -3.65%
201501 -1.91% -3.00% 2.32% 0.18%
201502 6.03% 5.74% -1.07% 5.48%
201503 1.25% -1.59% 0.42% -1.52%
201504 -1.54% 0.95% -0.35% 5.08%
201505 1.85% 1.29% -0.44% -0.94%
201506 -0.73% -1.93% -1.00% -2.68%
201507 -0.16% 2.10% 0.77% -0.80%
201508 -5.87% -6.03% -0.35% -7.27%
201509 -4.82% -2.48% 0.76% -3.90%
201510 5.57% 8.44% 0.02% 6.28%
201511 1.73% 0.30% -0.26% -1.33%
201512 -3.94% -1.58% -0.37% -2.02%
201601 -8.82% -4.97% 1.44% -5.64%
201602 0.47% -0.14% 0.67% -2.24%
201603 8.22% 6.78% 0.95% 8.25%
201604 1.72% 0.39% 0.39% 2.22%
201605 1.78% 1.79% 0.02% -1.00%
 201606 -0.11% 0.26% 1.95% -0.96%
201607 5.37% 3.68% 0.65% 4.44%
201608 0.88% 0.14% -0.16% 0.70%
201609 0.91% 0.02% -0.08% 1.42%
201610 -3.87% -1.83% -0.80% -1.75%
201611 7.90% 3.70% -2.63% -2.16%
201612 1.82% 1.98% 0.25% 2.03%
201701 2.13% 1.89% 0.30% 3.94%
201702 2.45% 3.97% 0.67% 1.47%
201703 -0.06% 0.11% -0.06% 2.84%
201704 1.13% 1.03% 0.77% 2.21%
201705 -0.78% 1.40% 0.68% 3.01%
201706 2.32% 0.62% 0.02% 0.52%
201707 1.11% 2.05% 0.40% 3.44%
201708 -0.41% 0.30% 0.86% 0.64%
201709 4.24% 2.07% -0.74% 1.79%
Annualized Average 15% 4%
Annualized Standard deviation 12%
Sharpe ratio 1.16045839551

Morning star rating

Expense ratio

correlation
 Monthly Percentage Returns

John Hancock MassMutual Metropolitan

American Funds
Goldman Sachs Funds MFS Mid Cap Select Mid Cap West Total
New World
Small Cap Value Disciplined Value Fund Growth Equity Return Bond
Fund
Value Fund Fund II Fund

RNWGX GSSUX JDVWX MVCKX MEFZX MWTSX

8.78% 10.88% 7.92% 9.48% 7.82% 3.74%
1.90% 3.27% 4.96% 4.50% 3.32% 2.07%
5.82% 4.73% 3.12% 5.81% 6.73% 2.18%
-1.26% -5.28% -2.47% -3.46% -4.66% 2.14%
4.79% 3.73% 4.89% 5.16% 4.41% 0.98%
1.93% 7.67% 1.43% 4.47% 5.14% -0.13%
-4.00% -2.79% -3.27% -2.31% -3.75% 2.70%
0.73% 4.84% 3.56% 5.13% 4.71% 0.56%
6.99% 7.27% 6.17% 6.57% 7.36% 0.63%
0.14% 6.03% 1.00% 4.41% 4.11% 2.20%
-7.95% -7.26% -7.98% -7.68% -6.97% -0.18%
0.07% -7.34% -5.18% -6.03% -5.41% 1.42%
8.55% 6.58% 6.69% 7.78% 5.81% 1.53%
-1.00% -6.03% -5.48% -4.33% -4.66% 1.71%
9.32% 10.26% 8.41% 9.81% 11.78% 0.67%
3.48% 3.31% 3.71% 3.35% 3.59% 1.02%
-3.18% 3.05% -0.58% 2.00% 3.39% -0.47%
4.83% 7.93% 6.67% 7.40% 6.13% -0.67%
-2.71% 0.80% 2.77% 2.06% 2.35% 0.79%
0.73% 5.03% 3.85% 4.04% 4.34% 0.53%
3.08% 1.69% 0.15% 1.15% 1.72% 0.21%
4.22% 2.15% 3.03% 2.56% 2.63% 1.14%
-1.65% -1.03% -1.65% -0.35% -1.59% 1.06%
-1.43% -2.00% -1.61% -1.53% -2.02% -0.88%
-0.39% -2.38% -3.64% -2.90% -3.96% 1.18%
-7.51% -8.03% -6.39% -7.49% -5.90% 0.56%
-12.44% -11.25% -8.20% -10.22% -8.36% -0.10%
10.74% 14.95% 12.41% 12.43% 12.26% -0.10%
-3.29% 1.46% -0.40% 0.08% -0.63% -0.34%
-2.26% 1.69% 1.30% -0.13% -1.05% 1.02%
7.03% 6.00% 5.06% 4.78% 6.38% 1.70%
5.57% 2.73% 4.82% 4.11% 4.55% 0.74%
-0.46% 2.36% 3.78% 2.30% 2.08% 0.28%
0.10% -0.99% -0.71% -0.35% 0.37% 1.07%
-9.27% -6.24% -7.41% -6.13% -6.77% 0.83%
3.99% 3.10% 4.58% 2.78% 2.04% 0.46%
2.14% 1.24% 1.11% 0.95% -1.36% 1.94%
1.02% 2.88% 3.60% 2.53% 3.49% 1.03%
 3.80% 2.07% 2.98% 2.47% 1.91% 1.57%
0.31% -1.08% -0.90% 0.41% -2.25% 0.52%
1.50% 0.76% 0.00% 1.23% 2.37% 0.57%
3.79% 3.08% 2.22% 2.46% 1.64% 0.30%
1.96% 6.06% 5.84% 6.34% 6.25% 0.25%
-0.67% 1.40% 1.35% 2.26% 1.25% 0.45%
0.25% 4.72% 3.46% 3.98% 4.02% 0.35%
2.42% 0.30% 1.93% 0.99% 0.30% 1.21%
-1.06% 2.84% 4.03% 2.41% 3.08% -1.26%
-4.24% -0.29% -0.36% -0.17% -1.04% -2.21%
3.59% 6.22% 5.90% 6.01% 6.62% 0.38%
-2.82% -2.87% -3.39% -2.65% -1.69% -0.32%
6.96% 5.66% 2.50% 3.97% 5.19% 1.08%
3.06% 3.61% 3.30% 4.34% 2.49% 1.15%
0.35% 3.84% 3.82% 1.96% 2.07% -0.07%
0.67% 2.18% 3.12% 2.54% 3.21% -0.50%
-4.58% -3.46% -3.00% -3.04% -0.33% 1.48%
5.08% 4.95% 3.49% 5.18% 5.39% 0.50%
0.31% 0.67% 2.21% 1.54% -1.65% -0.07%
0.14% -2.19% -1.30% -0.29% -1.79% 0.83%
3.48% 1.14% 2.19% 1.96% 1.61% 1.21%
1.31% 4.91% 1.50% 3.27% 3.69% 0.11%
-1.77% -5.84% -1.06% -3.54% -3.15% -0.08%
0.54% 4.72% 3.53% 3.82% 4.56% 0.88%
-3.88% -4.86% -2.12% -4.19% -3.56% -0.40%
0.97% 6.27% 2.43% 2.43% 4.38% 0.66%
0.07% -0.76% 2.83% 2.56% 3.23% 0.65%
-4.49% 2.44% 0.09% 0.65% 0.46% 0.23%
0.28% -4.35% -4.90% -3.19% -1.39% 1.79%
3.60% 5.92% 6.54% 6.09% 7.12% -0.83%
-0.88% 1.61% -1.51% 0.86% 1.12% 0.43%
2.32% -1.52% 0.74% -0.28% -0.60% -0.24%
-0.89% 0.80% 1.68% 1.57% 2.53% -0.20%
-1.50% 0.23% -2.11% -1.59% -0.44% -0.91%
-1.47% -1.49% 0.90% 0.24% 1.39% 0.56%
-7.71% -4.84% -5.79% -4.08% -4.67% -0.23%
-3.30% -3.63% -4.32% -4.15% -3.35% 0.34%
6.49% 5.28% 7.70% 5.52% 5.98% 0.05%
0.00% 2.97% -0.22% 1.17% 0.91% -0.14%
-2.01% -5.07% -2.66% -3.66% -2.12% -0.34%
-5.96% -6.66% -6.62% -5.53% -8.12% 1.15%
-1.47% -0.69% 0.19% 0.61% 1.20% 0.53%
8.21% 8.26% 6.46% 9.25% 6.95% 0.78%
1.40% 1.32% 2.10% 1.57% 0.22% 0.46%
-0.30% 3.35% 0.80% 1.50% 2.88% -0.01%
 1.05% 0.00% -1.30% -0.98% -1.08% 1.54%
4.57% 4.79% 3.04% 4.02% 4.95% 0.76%
1.03% 2.29% 1.34% 0.48% -0.67% -0.03%
0.74% -0.37% -0.11% -0.14% 0.05% 0.04%
-1.18% -2.73% -1.54% -2.52% -3.76% -0.62%
-3.79% 10.69% 8.22% 5.56% 4.23% -2.09%
0.64% 3.18% 1.46% 1.77% 0.06% 0.08%
5.14% 0.57% 0.52% 1.57% 3.43% 0.27%
2.00% 1.71% 4.05% 2.95% 3.26% 0.67%
3.21% -0.70% -0.69% -0.93% 1.22% 0.01%
3.22% 0.03% 0.20% 0.04% 1.86% 0.69%
2.15% -1.90% 0.20% 0.31% 2.87% 0.69%
0.60% 2.24% 2.18% 2.13% 1.06% -0.02%
3.83% 1.52% 1.36% 0.61% 1.76% 0.28%
1.76% -2.14% 0.19% -1.60% 0.51% 0.89%
1.60% 6.70% 3.10% 3.51% 1.95% -0.59%
 Fidelity
Wells Fargo Principal Real
Vanguard Diversified
Small Company Parnassus Fund Estate Securities
PRIMECAP Fund International
Growth Fund Fund
Fund

VPMAX WSCRX FDIKX PFPRX PIREX

8.60% 6.71% 8.84% 11.50% 10.08%
1.55% 2.60% 3.35% 4.90% 13.13%
3.96% 6.64% 4.73% 2.54% 6.88%
-2.33% -6.59% -2.08% -3.56% -3.97%
7.00% 3.05% 3.79% 4.35% 6.88%
4.02% 8.16% 1.70% 4.58% 6.47%
-4.75% -3.80% -5.18% -3.42% -5.56%
3.52% 4.53% -0.15% 4.97% 6.20%
5.05% 6.70% 6.34% 5.67% 9.38%
0.30% 4.39% -1.46% 4.64% 6.42%
-8.49% -7.78% -10.55% -8.87% -5.32%
-5.77% -6.47% -2.09% -9.11% -5.54%
7.62% 5.72% 9.42% 7.55% 10.18%
-3.45% -5.75% -3.68% -6.13% -1.34%
9.15% 14.74% 10.77% 11.52% 4.14%
5.06% 5.18% 3.98% 2.77% 3.60%
-0.74% 6.06% -3.29% -0.21% -1.39%
6.64% 9.87% 7.70% 8.86% 3.86%
2.71% 0.60% 1.10% 5.46% 3.47%
2.61% 6.32% 3.28% 3.26% 4.56%
-0.14% 3.81% -1.14% -3.61% -1.49%
3.47% 4.21% 5.63% 4.07% 5.54%
-0.70% -1.58% -3.50% -2.28% 2.04%
-2.41% -1.35% -1.77% -5.92% -3.01%
-2.96% -3.56% -0.51% -2.88% 1.29%
-5.82% -11.95% -8.65% -9.88% -6.30%
-7.82% -11.02% -12.34% -7.90% -10.77%
11.52% 15.52% 10.93% 14.98% 15.37%
-0.55% -0.99% -2.87% 1.08% -3.62%
-0.37% -0.08% -2.63% 0.95% 4.22%
5.39% 7.91% 6.24% 7.81% 6.25%
2.56% 4.90% 5.36% 4.84% -1.40%
2.14% 3.03% 0.63% 3.99% 5.43%
-1.29% -1.98% -1.12% -1.96% 3.18%
-6.10% -8.37% -9.73% -7.59% -4.79%
4.14% 3.57% 5.39% 4.96% 5.42%
1.67% -0.92% 1.22% 0.46% 1.92%
2.26% 3.66% 2.60% 4.88% 0.00%
 1.52% 3.77% 3.42% 3.13% -1.93%
-0.93% -2.37% 0.21% -2.99% -1.11%
1.99% -0.10% 2.48% 3.34% -0.26%
1.52% 3.48% 2.34% 3.51% 3.91%
6.81% 7.67% 3.68% 5.15% 3.57%
1.84% 1.05% -1.55% -1.87% -0.10%
4.97% 4.43% 2.29% 2.53% 3.11%
2.45% -1.35% 4.74% 1.37% 6.90%
2.28% 5.10% -1.77% 4.55% -5.41%
-1.51% -0.31% -2.27% 0.59% -1.85%
3.93% 8.63% 5.67% 6.57% 1.41%
-1.65% -0.81% -2.74% -3.71% -6.74%
4.99% 6.75% 7.22% 6.47% 3.97%
4.51% 1.67% 3.73% 2.54% 4.14%
4.04% 3.31% 1.87% 1.71% -4.44%
1.70% 3.20% 2.53% 4.45% 0.42%
-0.77% -0.94% -4.45% -2.46% 3.50%
5.87% 4.28% 5.54% 5.88% 5.40%
0.00% -1.31% -1.59% -0.13% 0.85%
-1.47% -4.32% 0.41% -1.44% 3.45%
3.67% 1.61% 2.23% 3.20% 2.39%
2.45% 7.29% 1.23% 3.03% 0.94%
-0.83% -5.89% -2.32% -3.01% 0.00%
3.89% 5.39% 0.54% 5.01% 3.04%
-0.33% -4.66% -3.24% -3.53% -5.55%
2.22% 2.97% 0.28% 2.20% 10.91%
3.32% 0.93% 1.33% 4.53% 2.11%
-0.34% 3.86% -2.62% 1.06% 2.09%
-1.54% -2.60% 0.90% -3.31% 6.38%
5.19% 8.32% 5.99% 7.61% -2.63%
-1.26% 1.23% -0.52% -1.22% 1.56%
-0.29% -1.87% 2.27% 0.02% -5.91%
1.59% 2.83% 1.66% 2.06% -0.13%
-2.76% 1.98% -1.68% -1.04% -4.39%
1.52% -0.11% 2.27% 1.47% 6.10%
-5.81% -7.04% -7.19% -5.57% -5.92%
-2.05% -6.25% -4.65% -3.16% 3.25%
8.83% 1.48% 6.47% 7.70% 5.39%
0.37% 3.25% -0.25% 0.08% -0.56%
-0.41% -4.59% -1.24% -1.22% 2.11%
-6.57% -12.89% -6.29% -7.38% -3.95%
-1.15% -0.56% -2.26% 3.12% -0.42%
6.16% 8.43% 6.02% 5.60% 10.09%
-0.40% 1.22% 0.62% -1.55% -2.74%
3.11% 2.11% 1.32% 4.81% 2.07%
-2.35% 0.10% -4.13% -1.88% 6.46%
6.55% 6.89% 4.46% 4.19% 3.75%
1.28% 1.20% 1.01% 5.29% -3.34%
1.77% 0.79% 1.00% 1.18% -1.62%
-2.99% -5.62% -3.22% -1.70% -5.43%
3.89% 7.77% -3.15% 7.05% -2.41%
1.72% -0.02% 1.69% 2.03% 4.55%
3.11% 3.45% 2.98% 1.03% -0.58%
4.24% 2.87% 1.72% 3.27% 4.14%
0.73% 0.70% 3.10% -0.15% -1.91%
1.49% 0.99% 4.15% 0.93% 0.17%
2.96% -1.86% 3.88% 1.64% 0.31%
1.26% 2.99% -0.44% 3.03% 1.80%
0.89% 0.95% 3.34% 1.10% 1.07%
0.72% -0.72% -0.08% -0.03% 1.27%
3.77% 4.71% 1.78% 2.48% -1.00%