Disclosures for the Hypothetical Back-tested Performance of Model IFA Index Portfolios and Indexes, and Model Fund Portfolios and Funds

This material is prepared by Index Fund Advisors, Inc. (IFA) for informational purposes only. The performance results provided herein represent hypothetical back-tested or model performance of the criteria selected, do not reflect actual trading by IFA and do not represent the actual performance achieved by any IFA client, client account, or mutual fund investment. Data is obtained from sources that are believed to be reliable.

IFA does not guarantee any minimum level of investment performance or the success of any index portfolio, index, fund portfolio, mutual fund, exchange-traded fund (ETF) or investment strategy. Past performance does not guarantee future results. There is a potential for loss in any investment, including loss of principal invested. All investments involve risk, and different types of investments involve varying degrees of risk. Investment recommendations will not always be profitable. No representation is being made that any IFA client account will or is likely to achieve profit or losses similar to those shown in hypothetical back-tested or model performance. Impacts of federal and state taxes and trading costs are not included in the results of index portfolio, index, fund portfolio or fund returns. Hypothetical back-tested and model performance information shown in text, charts, tables, and graphs is provided for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any types of securities.

Intended Audience and Access Confirmation

The hypothetical back-tested and model performance data presented by IFA constitutes "hypothetical performance" as defined in Rule 206(4)-1(d)(6) under the Investment Advisers Act of 1940 (the "Marketing Rule"). IFA has adopted and implemented policies and procedures reasonably designed to ensure that this hypothetical performance is relevant to the likely financial situation and investment objectives of the intended audience, and that sufficient information is provided to enable that audience to understand the criteria used, the assumptions made, and the risks and limitations of using hypothetical performance in making investment decisions. The intended audience for this data is investors and their advisors who have access to sufficient resources and possess the financial expertise to independently analyze hypothetical back-tested performance data, and for whom such data is relevant to their investment analysis, objectives, and financial situation.

Before accessing hypothetical back-tested data on the www.ifa.com website or the IFA App, each user is required to review these disclosures and confirm that: (1) they have read and understand IFA's back-testing disclosures and index descriptions; (2) they have access to sufficient resources and possess the financial expertise to independently analyze hypothetical back-tested performance data; (3) they understand the risks, limitations, and assumptions made in calculating the hypothetical back-tested performance data; (4) they would like information on investing and in particular hypothetical back-tested data of indexes, index portfolios, mutual funds, and exchange-traded funds; and (5) the use of hypothetical back-tested performance data is relevant to their investment analysis, objectives, and financial situation, and by confirming they are requesting access to this data.

Overview: Index Funds, IFA Indexes, Funds and Fund Portfolios

The IFA investment strategy is based on principles generally known as the Efficient Market Hypothesis, Modern Portfolio Theory and the Fama and French Four Factor Model for Equities and Two Factor Model for Fixed Income. The Efficient Market Hypothesis states that a market is efficient when securities prices fully reflect all available information; as a consequence, investors should not expect to consistently outperform the market through security selection or market timing, other than by chance. Source: Eugene F. Fama, "Efficient Capital Markets: A Review of Theory and Empirical Work," The Journal of Finance, Vol. 25, No. 2 (May 1970), pp. 383-417. IFA Index Portfolios and Fund Portfolios are designed to provide substantial global diversification in order to reduce investment concentration and the resulting potential increased risk caused by the volatility of individual companies, indexes, or asset classes.

IFA defines an "index fund" as a mutual fund or exchange-traded fund (ETF) that follows a set of rules of ownership which, under normal circumstances, are held constant regardless of market conditions. An important characteristic of an index fund is that its rules of ownership are not based on a forecast of short-term events or the mispricing of securities. Therefore, an investment strategy that buys and rebalances a portfolio of index funds is often referred to as passive investing, as opposed to active investing.

The term "seek to replicate an index" is used in fund prospectuses of index funds. Passively managed funds, such as some factor-based funds, do not seek to replicate widely known and publicly available indexes such as Russell, S&P and MSCI indexes. The August 6, 2018 SEC Investor Bulletin, "Smart Beta, Quant Funds and other Non-Traditional Index Funds" (https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-25), refers to these funds as non-traditional index funds. Traditional index funds are described in the SEC's "Investor Bulletin: Index Funds," issued on the same day (https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-26). IFA advises clients on both traditional and non-traditional index funds.

IFA previously presented the performance of its indexes as a combination of index data and live mutual fund data spliced together in a single time series. IFA has since separated its index data from its fund data. Index data and fund data are now presented as two distinct sets of time series: the IFA Indexes and IFA Index Portfolios (constructed entirely from index data) and the Funds and Fund Portfolios (constructed entirely from fund data). Each set has its own descriptions and time-series construction pages, as described below, and these disclosures apply to both.

IFA Indexes and IFA Index Portfolios

The indexes constructed by IFA (the "IFA Indexes") include several stock and bond indexes that represent a monthly data series that begins with index data from various sources on January 1, 1928. Each IFA Index is constructed entirely from index data, including indexes calculated by Dimensional Fund Advisors LP (Dimensional), Fama/French research indexes, and other public market index providers. IFA Indexes do not contain live mutual fund or ETF returns. Because an investor cannot invest directly in an index and would incur fund expenses to obtain similar exposure, the net expense ratio of a similar fund is deducted from each underlying index for the entire time series of each IFA Index. Certain underlying index data (such as Dimensional index data) is calculated monthly; in order to provide intra-month data, IFA has selected a similar fund to provide such intra-month data, as identified in the description of each IFA Index. A description of each IFA Index and its time-series construction can be found on the IFA Index Descriptions page at https://www.ifa.com/disclosures/index-data/.

Index portfolios created by IFA (the "IFA Index Portfolios") are model allocations of a globally diversified selection of between 11 and 15 IFA Indexes. Each IFA Index Portfolio is assigned a designation number based on the allocation of stock indexes compared to bond indexes within a particular IFA Index Portfolio. For example, the IFA Index Portfolio 90 is 90% IFA stock indexes and 10% IFA bond indexes. The data for both the IFA Indexes and the model data for IFA Index Portfolios is hypothetical back-tested performance data.

Funds and Fund Portfolios

IFA also presents the performance of the mutual funds and ETFs (the "Funds") that IFA has selected to implement its index portfolios for clients. Fund data is constructed entirely from live (actual) fund returns. Where a fund's live track record does not cover the full period shown, earlier periods are represented by a predecessor fund or share class, spliced together at the dates indicated in each fund's time-series construction. A description of each Fund and its time-series construction can be found on the Fund Descriptions page at https://www.ifa.com/disclosures/fund-data/.

Fund portfolios created by IFA (the "Fund Portfolios") are model allocations of Funds that are designed to implement a corresponding IFA Index Portfolio. Clients of IFA may have preferences, other than IFA's default selection, in the mutual funds or ETFs used to implement their index portfolio. IFA therefore offers many different fund implementation options, including stock and bond fund mixes from Dimensional, Avantis, Vanguard, BlackRock and multiple managers, implemented with ETFs, mutual funds, or both, as well as sustainable, socially responsible, Catholic values, municipal bond, and 401(k) options. These fund implementation options are described at https://www.ifa.com/fund-portfolios/. Although Fund Portfolio data is constructed from live fund returns, the Fund Portfolio performance shown is model performance: it reflects the retroactive application of a model allocation, with fund selections and splice dates determined with the benefit of hindsight, and does not represent the returns of any actual client account.

The IFA Index Data Sources, the IFA Index Descriptions and time-series constructions (https://www.ifa.com/disclosures/index-data/), the Fund Descriptions and time-series constructions (https://www.ifa.com/disclosures/fund-data/), and several of the Dimensional Indexes (see: https://www.ifa.com/disclosures/charts/#dfafunds) are an integral part of this disclosure and should be read in conjunction with this explanation of the hypothetical back-tested performance of the IFA Indexes, the model IFA Index Portfolios, the Funds, and the model Fund Portfolios. In addition, an extensive glossary of terms used throughout IFA's content, which includes these disclosures, can be found at https://www.ifa.com/glossary/.

Hypothetical Back-tested and Model Performance

Hypothetical back-tested and model performance results have many inherent limitations, some of which are described herein.

"Backtesting" is a process of objectively simulating historical investment returns by applying a set of rules for buying and selling securities, and other assets, backward in time, testing those rules, and hypothetically investing in the securities and other assets that are chosen. Backtesting is used to assess the viability of an investment strategy by building a simulation with historical data to analyze risk and profitability before risking any actual capital and is intended to allow investors to understand and evaluate certain strategies by seeing how they would have performed hypothetically during specific time periods.

The hypothetical back-tested performance data comprising the IFA Index data is constructed entirely from index data, with the net expense ratio of a similar fund deducted for the entire time series. The monthly data series begins with index data on January 1, 1928. The Fund data is constructed from live fund returns, with predecessor funds or share classes spliced together where a fund's live track record does not cover the full period shown; accordingly, Fund and Fund Portfolio time series begin at later dates than the IFA Indexes, as indicated in each fund's time-series construction.

The investment strategy of the IFA Index Portfolios and Fund Portfolios is a buy and hold strategy with annual rebalancing of the allocation on the first of each year during the relevant time period. The data shown is hypothetical and is provided to illustrate historical risk and return performance had the IFA Indexes, IFA Index Portfolios, Funds, and Fund Portfolios been available and held in the allocations shown over the relevant time period.

IFA did not offer the IFA Index Portfolios until November 1999. Prior to November 1999, IFA did not manage client assets.

All performance results of the IFA Indexes and IFA Index Portfolios are based on the performance of indexes. All performance results of the Fund Portfolios are based on the performance of the Funds in the model allocations. In each case, the hypothetical back-tested and model performance was achieved with the benefit of hindsight; it does not represent actual investments in any investment strategies, and the trades reflected in such performance were not actually executed.

Limitations of Hypothetical and Model Performance Data

Hypothetical and model performance is significantly different from actual investment performance. There are certain limitations inherent in hypothetical model results like those portrayed, which include, among others, that such hypothetical model returns: (a) do not reflect trading in actual client accounts, (b) are dependent on the market and economic conditions that existed during the relevant period and do not reflect the impact that material economic and market factors may have had on the adviser's decision-making had the adviser actually been managing client funds, (c) reflect simulated trading programs which, in general, benefit compared to actual performance results because such simulated programs are designed with the benefit of hindsight, (d) assume that the securities used in the hypothetical back-tested results were available for purchase or sale during the time period presented and the markets were sufficiently liquid to permit the types of trading used, and (e) do not involve or take into account financial risk and do not take into account that material and market factors may have impacted IFA's decision making, all of which can adversely affect actual trading results and performance. For example, the ability to withstand losses or adhere to a particular trading program in spite of trading losses are material points which can also adversely affect markets in general or the implementation of any specific trading program. Hypothetical back-tested and model performance does not represent actual performance, actual trading costs or the actual impact of taxes and should not be interpreted as an indication of such performance.

Hypothetical back-tested and model performance also differs from actual performance because it is achieved through the retroactive application of model portfolios designed with the benefit of hindsight. This applies to both the IFA Index Portfolios and the Fund Portfolios, including the selection of the underlying indexes and funds and the dates at which predecessor funds or share classes are spliced together. As a result, the IFA Index Portfolios and Fund Portfolios may be changed from time to time and the effect on hypothetical performance results could be either favorable or unfavorable.

Hypothetical back-tested and model performance is calculated by using a software program that starts with the first day of a selected month and ends with the last day of a selected month. Whenever the term IFA Index Portfolio or Fund Portfolio value data is used, it is based on a starting value of one at the beginning of the stated time period.

Hypothetical back-tested and model performance results for IFA Index Portfolios and Fund Portfolios are based on a buy and hold strategy, with annual rebalancing on the first of each year. It is important to understand that the assumption of first of the year annual rebalancing has an impact on the monthly returns reported for these portfolios throughout the year. If there were monthly rebalancing instead, the monthly return would be calculated with the assumption that the portfolio is in balance at the beginning of each month. For annual rebalancing, the year-to-date and monthly return is calculated with the assumption that the portfolio is in balance only at the beginning of each year. In actual client portfolios, however, accounts are reviewed quarterly, and rebalancing occurs as needed. Generally, rebalancing events are recommended by IFA when a client portfolio exceeds the applicable variance threshold assigned by IFA to each portfolio, and rebalancing is implemented with client approval. Rebalancing actions are dependent on both market conditions and individual client cash inflows and outflows, along with the cost impact of such transactions on the overall client portfolio. Trades for the hypothetical returns were not actually executed.

Fees and Expenses Reflected in the Data

All data reflects total returns, including the reinvestment of dividends and capital gains, unless stated otherwise.

IFA Indexes: the net expense ratio of a similar fund is deducted from the underlying index data for the entire time series of each IFA Index, as identified in each IFA Index description. Data for each individual IFA Index is shown without a deduction of the IFA advisory fee and is therefore gross of advisory fees. Wherever individual IFA Index data is presented, it should be understood to be gross of IFA's advisory fees, and a client's actual return would be reduced by advisory fees and other expenses.

Funds: fund data reflects the deduction of each fund's expense ratio but does not reflect a deduction of IFA's advisory fee. Data for each individual Fund is shown without a deduction of the IFA advisory fee and is therefore gross of advisory fees. Wherever individual Fund data is presented, it should be understood to be gross of IFA's advisory fees, and a client's actual return would be reduced by advisory fees and other expenses.

Additional calculation assumptions: all returns are calculated and presented in U.S. dollars; cumulative and annualized returns are calculated by linking monthly returns; the model portfolios assume no client contributions or withdrawals and no cash balances during the periods shown; and custodian fees, trading costs, and taxes are not deducted from any of the results. Actual client accounts incur custodian fees and trading costs, may hold cash balances, and may incur taxes, each of which would reduce performance.

IFA Index Portfolios and Fund Portfolios: portfolio-level data reflects a deduction of all underlying fund fees or fund-equivalent expense ratios plus IFA's highest advisory fee of 0.90% per year, unless stated otherwise. The advisory fee is deducted from the whole-portfolio data but not from the individual index or fund data because the creation, choice, monitoring, and rebalancing of diversified portfolios are the services of the independent investment advisor. In the hypothetical performance figures shown, a monthly advisory fee of 0.075% (which amounts to 0.90% annually) is deducted from month-end returns, unless stated otherwise. However, actual client advisory fees are deducted quarterly, in advance, by IFA. Depending on the amount of assets under management and other factors, investment management fees paid by a client may be less (please see IFA's Form ADV Part 2 Brochure for additional information). Note that a client's return will be reduced by the amount of advisory fees charged by IFA and any other expenses, and the inclusion of IFA's advisory fees will have a negative impact on client account performance. IFA accepts no fees from investment product firms.

The impacts of trading costs and taxes are not included in any of the performance results and will reduce client performance. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical back-tested and model performance results, all of which can adversely affect actual trading results.

Performance Results and Composition of IFA Indexes, IFA Index Portfolios, Funds, and Fund Portfolios

IFA Index Portfolios and Fund Portfolios

Investments cannot be made directly in an index. Past performance is no guarantee of future results.

Performance results for actual clients that invest in accordance with the IFA Index Portfolio or Fund Portfolio models will vary from the back-tested and model performance due to, among other things, the use of funds for implementation that differ from the indexes underlying the IFA Index data or from the default Funds underlying the Fund Portfolio data, current market conditions, investment cash flows, fund allocations, changing index and fund allocations over time, frequency and precision of rebalancing, not following IFA's advice, retention of previously held securities, tax loss harvesting and glide path strategies, actual cash balances, lower advisory fees, varying custodian fees, and/or the timing of fee deductions. Tax liabilities will vary for each client and can result from various activities in taxable and tax-deferred accounts. These activities include, but are not limited to, rebalancing of portfolios, any sale of securities, tax loss harvesting, interest, dividends and capital gains distributions from equity funds and individual securities in taxable accounts. There are also tax liabilities associated with distributions from tax-deferred accounts. Not all IFA clients follow IFA's recommendations and, depending on unique and changing client and market situations, IFA may customize the construction and implementation of the IFA Index Portfolios and Fund Portfolios for particular clients so that actual client accounts differ materially from those shown. As described at https://www.ifa.com/fund-portfolios/, IFA provides many fund portfolio implementation options, which include, among others, the use of ETFs and/or mutual funds from one or more fund managers, global extended maturity bond funds, municipal bond funds, social or sustainable screens added to funds, Catholic values funds, diversified portfolios of various index fund providers, and use of core funds or global asset allocation funds. These many implementation options are expected to have risks and potential returns that vary from the IFA Index Portfolio and Fund Portfolio models. As a result of these and other variances, actual performance for client accounts has been and is likely to be materially different and may be lower than the results shown in the IFA Index Portfolio and Fund Portfolio models. Clients should consult their account statements for information about how their actual performance compares to that of the model portfolios and ask their IFA Wealth Advisor to explain any differences.

IFA Indexes

The underlying indexes used in constructing the IFA Indexes are IFA's best estimate of an underlying index that comes closest to the corresponding IFA Index objectives. Index data is calculated by the applicable index provider or research data source, including Dimensional and Fama/French. For example, where a Dimensional or Fama/French index serves as the underlying index, Dimensional or Fama/French, respectively, calculates the index data used by IFA for the corresponding IFA Index. The net expense ratio of a similar fund is deducted from such index data for the entire time series, as identified in each IFA Index description at https://www.ifa.com/disclosures/index-data/. Index data does not reflect actual fund returns or actual trading, and the results shown do not represent returns that any investor actually attained. Periods selected other than those shown may have different results, including losses. IFA Indexes are unmanaged; however, a fund expense ratio has been deducted from each of the IFA Index returns.

Funds and Fund Portfolios

The Funds used in constructing the Fund Portfolios are the funds IFA has selected to implement the corresponding index portfolio asset classes. Where a fund's live track record does not cover the full period shown, earlier periods are represented by a predecessor fund or share class, spliced together at the dates indicated in each fund's time-series construction at https://www.ifa.com/disclosures/fund-data/. The selection of funds, predecessor funds, and splice dates was made with the benefit of hindsight. Although constructed from live fund returns, Fund Portfolio performance is model performance and does not represent the performance of any actual client account. The inception date of each fund used in creating the Funds' time series may be found in the description of each Fund at https://www.ifa.com/disclosures/fund-data/.

History of Changes

The IFA Indexes time-series construction goes back to January 1928, with an increasing diversification to international markets, emerging markets and real estate investment trusts as data became available over time. As of January 1928, there are four equity IFA Indexes and two bond IFA Indexes used to construct the IFA Index Portfolios; in January 1970 there are a total of 8 IFA Indexes, and there are 15 IFA Indexes in March 1998 to present used to construct the IFA Index Portfolios. For additional details and to see the analysis of the evolution of these IFA Index Portfolios, see: https://www.ifa.com/disclosures/charts/#IFA_evolution.

The following summarizes the history of changes made to the IFA Indexes and IFA Index Portfolios: 1992-2000: IFA's original Index Portfolios 20, 40, 60, and 80 (the number refers to the percentage of equity (stock) indexes versus bond indexes in the allocation) were suggested by DFA in 1992 (ifa.com/pdfs/1992.pdf), as an example of globally diversified asset classes, with moderate modifications in 1995 (ifa.com/pdfs/1995.pdf). Twenty IFA Index Portfolios 5 to 100 were created by IFA in 2000, as a lower and higher extension of the DFA 1992 risk and return options. There are numerous other changes that occurred relating to the IFA Indexes and IFA Index Portfolios from 2002 to present, including the separation of index data from fund data described in these disclosures and changes to performance calculations and associated returns (which resulted in returns of the IFA Index Portfolios being both higher and lower, depending on the particular IFA Index Portfolio). These changes are described at https://www.ifa.com/disclosures/history/.

Public Market Index Disclosures

Performance of the IFA Index Portfolios and Fund Portfolios should not be compared directly to any public market indexes. Correlation of a portfolio with an index will vary upon different factors including fixed income portion, market sector and international exposure. IFA will provide additional disclosure where direct comparisons to public market indexes are made. Reference to any public market indexes is not intended to and does not imply or suggest that any of the IFA Index Portfolios or Fund Portfolios will achieve returns, experience volatility or have other results similar to such indexes.

Information About Index Fund Advisors, Inc.

IFA is an SEC registered Investment Adviser. Information pertaining to IFA's advisory operations, services, and fees is set forth in IFA's current Form ADV Part 2 (Brochure), which is available upon request and at https://adviserinfo.sec.gov/firm/summary/109143. IFA is not paid any brokerage commissions, sales loads, 12b-1 fees, or any form of compensation from any mutual fund company, exchange-traded fund company or broker dealer. The only source of compensation relating to IFA client investments is obtained from asset-based advisory fees paid by clients (note that, unrelated to IFA's investment management services, IFA also receives tax or accounting related fees paid to IFA's division providing such tax or accounting services. Tax and accounting services are provided under a separate written agreement). More information about advisory fees, expenses, mutual fund fees, and prospectuses for mutual funds can be found at https://www.ifa.com/fees/.

Certain Associated Risks

IFA Index Portfolios will be implemented for clients by investing in an allocation of mutual funds and/or ETFs that match the asset classes, as shown in the Fund Portfolios, mainly (but not exclusively) funds from Dimensional. All mutual funds and ETFs carry risks, and those risks can vary depending on the underlying investments and the fund's investment strategy. IFA Index Portfolios are numbered from 1 to 100 based on the percentage allocation to equity indexes. Portfolios with lower equity allocations and higher bond allocations generally have less risk, as measured by standard deviation, than those with higher equity allocations and lower bond allocations. There is risk of loss in any securities investment, including the risk of loss of principal that the client should be prepared to bear. Clients are provided with a copy of each mutual fund and ETF prospectus, which outlines the risks associated with the fund and should be read carefully. There is no guarantee that any IFA Index Portfolio or Fund Portfolio will meet its investment objectives.

Standard Deviation Information

IFA utilizes standard deviation as a quantification of risk. Standard deviation is a statistic that measures the dispersion of a dataset relative to its mean (also called an average) and is a common measure of risk used by academics, analysts, portfolio managers and advisors. The higher the standard deviation, the higher the risk. Standard deviation is a measure of the dispersion of a dataset relative to its average and is calculated as the square root of the variance of the data from the average. If data points are far from the average, there is a higher deviation within the data set; thus, the more spread out the data, the higher the standard deviation. In finance, standard deviation is applied to the rate of return of an investment to measure the investment's volatility.

Standard deviation is also known as historical volatility and is used by investors as a gauge for the amount of expected volatility or the uncertainty of expected returns. For example, among indexes of stocks, those indexes comprised of smaller companies, international companies and emerging market companies generally have had higher standard deviations than those indexes comprised of large companies in the U.S. over long time periods. As another example, among bond indexes, those bond indexes with longer durations and greater probabilities of default have had higher standard deviations over long time periods. However, it is not true that all indexes with higher standard deviations, such as those indexes comprised of small growth companies, have had higher returns over long time periods.

Annualized standard deviation approximates standard deviation over a period of one or more years and is calculated by multiplying the standard deviation by the square root of the number of periods in one year. By way of example, the annualized standard deviation for a period of one year is calculated by multiplying the monthly standard deviation by the square root of 12, which is 3.46. In those charts and tables where the annualized standard deviation of daily returns is shown, it is estimated as the standard deviation of monthly returns divided by the square root of 22, which is 4.69.

Please note that the annualized standard deviation number computed from annual data may differ materially from the estimate obtained from monthly data. IFA has chosen this methodology because Morningstar uses the same method.

Data Source Information

IFA licenses data, in part, from Morningstar, a third-party provider of stock market data. Where data is cited from Morningstar, the following disclosures apply: "2026 Morningstar, Inc. All rights reserved. The information provided by Morningstar and contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Permission for sharing Dimensional Indexes is provided by Dimensional Fund Advisors LP in an End User License Agreement for the Returns Program, dated February 1, 2023. Permission for sharing Fama/French index data is provided by Kenneth French, dated March 17, 2023. "2025 Kenneth R. French.

IFA Index Portfolios, Fund Portfolios, time series, standard deviations, and returns calculations are derived using IFA proprietary calculation methods, which apply rebalancing rules and monthly fee adjustments and create the time-series construction of data. Our source data comes from many places, including Dimensional Fund Advisors, Kenneth French, and Morningstar, as indicated in the relevant tables and charts.

Disclaimer

DISCLAIMER: THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION PROVIDED HEREIN OR ON THE MATERIAL PROVIDED.

This document and the information which it accompanies or to which it refers and relates does not constitute a complete description of IFA's investment services and is for informational purposes only. It is in no way a solicitation or an offer to buy or sell securities or investment advisory services. Any statements regarding market or other financial information are obtained from sources which IFA and its suppliers believe to be reliable, but IFA does not warrant or guarantee the timeliness or accuracy of this information. Neither IFA's information providers nor IFA shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. All investments involve risk, including foreign currency exchange rates, political risks, market risk, different methods of accounting and financial reporting, and foreign taxes. Your use of these and all materials provided by IFA, including the www.ifa.com website and the IFA App, is your acknowledgement that you have read and understood the full disclaimer as stated above. For additional updates please refer to www.ifabt.com.

This material is intended to be informational in nature and should not be construed as tax advice. As a division of IFA, IFA Taxes provides a wide array of tax planning, accounting and tax return preparation services for individuals and businesses across the United States. IFA Taxes does not provide auditing or attestation services and therefore is not a licensed CPA firm.

Last Updated 08-18-2026