Hypothetical Performance History and Hypothetical Drawdown –

For portfolios allocated by shares or dollar quantity, the system assumes a constant number of shares for the entire length of the chart. For example, if a portfolio is created with 100 shares of stock XYZ, then the chart assumes always holding 100 shares of XYZ for the entire timeframe. For portfolios created using dollar value entry, the converted share quantity is used. For example, if stock XYZ has a last closing price of $5.00 and a portfolio is created with $1000 of XYZ, then the system converts the position to reflect 200 total shares of XYZ in the portfolio. For a percentage-based portfolio or model, the system will assume weekly rebalancing to maintain the percentage allocation of the portfolio.

Please note, if a position does not have full historical data for a timeframe, then it is excluded from the charts. For example, if the report is run using a 5-year timeframe and a position only has 4.5 years of history, then it will not be included in the charts. Only the positions of the portfolio with at least 5 years of history will be charted. The excluded tickers are listed in the disclosure of the report.

The charts for Performance History and Hypothetical Drawdown are calculated using weekly data points for a portfolio. If a position is excluded from analysis because of young price history, then the returns for the included positions are calculated as a ratio of the remaining portfolio value. This is the same for both percentage and share quantity portfolios. For example, if a portfolio has a total value of $100,000 and a $30,000 position is excluded, then the charted returns are calculated as a portion of the remaining $70,000. If the positions representing the $70,000 grow 10% over time, then the chart will show a 10% growth of those position in the chart.