IFA International Value Index: Returns Matrix

For HYPOTHETICAL back-tested performance data shown in this chart, including sources, updates, and important disclosures, see ifabt.com. Indexes are labeled with letters to designate the index name and are defined at indexdescriptions.com. 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. The construction of IFA Indexes data introduces live mutual fund data of funds that are similar to the preceding index upon the inception date of the funds and uses that monthly mutual fund data up to the current month. The HYPOTHETICAL back-tested performance of the indexes was achieved with the benefit of hindsight; it does not represent actual investment strategies for the entire period; and it does not reflect the impact that economic and market factors may have had on the advisor's decision making if the advisor were actually managing client money during the period shown. Unless indicated otherwise, the performance of the IFA Indexes when shown individually, does reflect the deduction of mutual fund fees, include reinvestment of dividends and capital gains but does not include the deduction of IFA advisory fees, transaction costs or taxes, which if included, would lower performance. IFA Indexes were created by IFA in 2000.The S&P 500 Index is an unmanaged float-adjusted market capitalization-weighted index composed of the 500 most widely held, publicly traded companies, whose assets and/or revenues are based in the US. The inclusion of information within charts and graphs relating to the S&P 500 Index is for informational purposes and shown as a comparison to other indexes, index portfolios or funds and as a general indicator of performance of large companies in the U.S. You cannot make an investment directly into an index.Past performance does not guarantee future results. All data, including performance data, is provided for illustrative purposes only, it does not represent actual performance of any client portfolio or account and it should not be interpreted as an indication of such performance.