Index returns shown prior to September 18th, 2018 reflect back-tested performance, which is NOT actual performance but is hypothetical. No entity achieved the back-tested performance shown. The back-tested return calculations are based on the same methodology that was in effect when the index was officially launched. However, back-tested returns reflect the application of the index methodology with the benefit of hindsight, and the index was developed with the benefit of knowing what such back-tested returns would show. The results of such back-tested returns were used to further the development of the index to maximize the back-tested returns for the index. In addition, back-tested performance reflects material market events that are not expected to be repeated.
Index returns shown may not represent the results of the actual trading of investable assets because the index returns do not reflect the fees and expenses that would have been incurred in such trading. Additionally, the back-tested index returns assume that the index was fully invested (i.e., no cash was included). You cannot invest in an index.
Actual results may significantly differ from the back-tested returns being presented, and back-tested performance is not an indication of future results. This information is provided for illustrative purposes only.