Rebalance Periodic R Turnover ( Periodic Return (SPX)

12/31/1997 0 0 0
01/31/1998 11.3614 100 1.105
02/28/1998 4.3985 66.6667 7.2124
03/31/1998 2.4135 100 5.1201
04/30/1998 3.0612 100 1.0037
05/31/1998 -9.2558 100 -1.7219
06/30/1998 0.1169 66.6667 4.061
07/31/1998 -3.5287 66.6667 -1.066
08/31/1998 -26.2907 100 -14.4583
09/30/1998 27.7068 33.3333 6.4065
10/31/1998 12.0941 66.6667 8.1331
11/30/1998 8.9245 66.6667 6.0606
12/31/1998 -0.9007 66.6667 5.7603
01/31/1999 28.0543 66.6667 4.1816
02/28/1999 -14.9134 0 -3.1086
03/31/1999 -1.9407 66.6667 4.0008
04/30/1999 -4.7965 66.6667 3.8717
05/31/1999 7.4323 100 -2.3617
06/30/1999 20.081 66.6667 5.5497
07/31/1999 -7.004 100 -3.1234
08/31/1999 -7.2578 66.6667 -0.4935
09/30/1999 11.9949 100 -2.7416
10/31/1999 3.5771 100 6.3274
11/30/1999 12.9389 66.6667 2.0324
12/31/1999 4.0463 100 5.8882
01/31/2000 -24.3342 100 -5.0242
02/29/2000 7.1508 100 -1.8938
03/31/2000 0.6205 66.6667 9.7831
04/30/2000 -30.1641 33.3333 -3.0092
05/31/2000 -1.1647 66.6667 -2.0523
06/30/2000 18.5852 66.6667 2.4653
07/31/2000 -14.2334 33.3333 -1.5573
08/31/2000 -6.8347 66.6667 6.2115
09/30/2000 -19.1496 33.3333 -5.2796
10/31/2000 -26.6511 66.6667 -0.4233
11/30/2000 -41.7829 100 -7.8835
12/31/2000 -7.3005 66.6667 0.4887
01/31/2001 6.7761 33.3333 3.5479
02/28/2001 -46.9918 66.6667 -9.1189
03/31/2001 -40.4852 100 -6.335
04/30/2001 53.654 33.3333 7.7702
05/31/2001 -36.4469 100 0.6699
06/30/2001 3.8325 66.6667 -2.4345
07/31/2001 -2.0913 100 -0.9854
08/31/2001 -23.9631 100 -6.2599
09/30/2001 -41.5849 66.6667 -8.1034
10/31/2001 24.3258 100 1.9054
11/30/2001 26.5099 100 7.6715
12/31/2001 -4.2711 66.6667 0.876
01/31/2002 -15.0962 66.6667 -1.4584
02/28/2002 -7.7478 100 -1.9307
03/31/2002 10.056 66.6667 3.7609
04/30/2002 -23.6018 100 -6.0642
05/31/2002 -14.5924 66.6667 -0.7368
06/30/2002 -15.0104 33.3333 -7.1151
07/31/2002 -5.5024 66.6667 -7.7947
08/31/2002 -4.5506 33.3333 0.6544
09/30/2002 -22.2963 0 -10.8682
10/31/2002 16.6363 33.3333 8.8019
11/30/2002 33.2215 66.6667 5.8858
12/31/2002 -27.6591 100 -5.8752
01/31/2003 -7.0503 66.6667 -2.6197
02/28/2003 7.9462 100 -1.5004
03/31/2003 5.1979 66.6667 0.97
04/30/2003 12.5712 100 8.2352
05/31/2003 22.0019 100 5.2682
06/30/2003 5.7727 100 1.2748
07/31/2003 22.1499 66.6667 1.7597
08/31/2003 4.1684 33.3333 1.9493
09/30/2003 -0.3229 33.3333 -1.062
10/31/2003 17.1342 66.6667 5.6524
11/30/2003 -6.7519 66.6667 0.8782
12/31/2003 14.2371 100 5.2438
01/31/2004 8.7577 100 1.8354
02/29/2004 -3.1449 100 1.389
03/31/2004 5.8982 66.6667 -1.5088
04/30/2004 -20.5057 66.6667 -1.5692
05/31/2004 15.492 100 1.3707
06/30/2004 6.0553 100 1.9452
07/31/2004 -9.1218 100 -3.31
08/31/2004 -14.0533 33.3333 0.4037
09/30/2004 9.5181 66.6667 1.0825
10/31/2004 18.7365 33.3333 1.5281
11/30/2004 0.5454 66.6667 4.0457
12/31/2004 4.1244 66.6667 3.4004
01/31/2005 -14.0348 66.6667 -2.4376
02/28/2005 -1.4004 100 2.1042
03/31/2005 -12.7817 100 -1.7709
04/30/2005 -7.507 66.6667 -1.8963
05/31/2005 9.2839 100 3.1817
06/30/2005 4.7488 100 0.1421
07/31/2005 6.6588 100 3.7187
08/31/2005 24.7346 100 -0.9123
09/30/2005 2.3179 100 0.8099
10/31/2005 -12.1797 100 -1.6666
11/30/2005 -1.4617 100 3.7819
12/31/2005 -0.8537 100 0.03
01/31/2006 8.7592 100 2.6484
02/28/2006 -2.8308 66.6667 0.2704
03/31/2006 11.6033 66.6667 1.2438
04/30/2006 1.4571 66.6667 1.3425
05/31/2006 -15.4783 66.6667 -2.878
06/30/2006 -1.5513 66.6667 0.1326
07/31/2006 -11.0358 100 0.6172
08/31/2006 1.1209 100 2.3795
09/30/2006 0.7718 33.3333 2.5746
10/31/2006 -9.1565 66.6667 3.2582
11/30/2006 -0.7176 100 1.9017
12/31/2006 -2.8832 100 1.3941
01/31/2007 4.0209 100 1.5121
02/28/2007 1.0256 100 -1.9555
03/31/2007 18.809 100 1.117
04/30/2007 28.4904 100 4.43
05/31/2007 2.2618 100 3.4885
06/30/2007 -0.0175 100 -1.6623
07/31/2007 -2.9504 100 -3.1002
08/31/2007 3.1041 100 1.4988
09/30/2007 6.4246 66.6667 3.7388
10/31/2007 -5.9784 100 1.5906
11/30/2007 -13.972 100 -4.1031
12/31/2007 5.4241 33.3333 -0.6976
01/31/2008 -18.3362 100 -5.9983
02/29/2008 -15.595 100 -3.249
03/31/2008 -6.1628 66.6667 -0.4323
04/30/2008 14.0213 66.6667 4.8709
05/31/2008 -0.4179 100 1.2952
06/30/2008 -20.3368 100 -8.4312
07/31/2008 -7.7118 66.6667 -0.8406
08/31/2008 -4.1273 66.6667 1.4467
09/30/2008 -29.2205 66.6667 -8.9115
10/31/2008 -25.0416 66.6667 -16.7951
11/30/2008 -25.5397 33.3333 -7.1748
12/31/2008 4.1387 33.3333 1.0626
01/31/2009 -30.2331 100 -8.4283
02/28/2009 -5.7194 66.6667 -10.6479
03/31/2009 17.4119 66.6667 8.7599
04/30/2009 17.9549 66.6667 9.569
05/31/2009 1.625 66.6667 5.59
06/30/2009 -7.8409 100 0.1979
07/31/2009 7.0993 66.6667 7.5631
08/31/2009 -0.8059 33.3333 3.6084
09/30/2009 16.7208 66.6667 3.7311
10/31/2009 -4.1783 100 -1.8587
11/30/2009 5.7402 100 5.9941
12/31/2009 9.829 100 1.9313
01/31/2010 -10.5392 33.3333 -3.5971
02/28/2010 -4.4094 100 3.0956
03/31/2010 12.8126 66.6667 6.0347
04/30/2010 1.4941 100 1.578
05/31/2010 -8.0173 100 -7.9848
06/30/2010 -17.503 100 -5.2355
07/31/2010 6.9622 66.6667 7.0059
08/31/2010 -2.0345 100 -4.5147
09/30/2010 12.4009 66.6667 8.924
10/31/2010 -1.2695 66.6667 3.8048
11/30/2010 -0.5723 100 0.012
12/31/2010 -8.6649 100 6.6837
01/31/2011 -8.0778 100 2.3697
02/28/2011 4.897 100 3.4251
03/31/2011 13.346 100 0.0403
04/30/2011 14.9048 100 2.9607
05/31/2011 -5.9638 33.3333 -1.1323
06/30/2011 -9.6967 100 -1.667
07/31/2011 -13.7349 33.3333 -2.0341
08/31/2011 -19.135 66.6667 -5.433
09/30/2011 -16.2456 66.6667 -7.0296
10/31/2011 14.9429 33.3333 10.9292
11/30/2011 -12.3127 66.6667 -0.222
12/31/2011 -4.5104 100 1.021
01/31/2012 5.3345 100 4.4812
02/29/2012 -9.8392 100 4.3242
03/31/2012 1.066 66.6667 3.2853
04/30/2012 -6.9276 66.6667 -0.6283
05/31/2012 -8.2011 100 -6.0099
06/30/2012 -2.9846 33.3333 4.1204
07/31/2012 -20.2778 66.6667 1.3886
08/31/2012 9.1463 100 2.2532
09/30/2012 11.441 100 2.5839
10/31/2012 -7.8456 100 -1.8519
11/30/2012 4.2513 66.6667 0.5789
12/31/2012 10.1042 33.3333 0.9064
01/31/2013 6.4338 33.3333 5.1791
02/28/2013 -0.5253 100 1.3569
03/31/2013 6.4017 100 3.7505
04/30/2013 14.3076 100 1.9265
05/31/2013 5.6243 100 2.3372
06/30/2013 0.7217 66.6667 -1.3426
07/31/2013 1.116 33.3333 5.0884
08/31/2013 4.6123 66.6667 -2.898
09/30/2013 7.5518 66.6667 3.1362
10/31/2013 15.5818 66.6667 4.5963
11/30/2013 5.4111 100 3.0459
12/31/2013 11.6172 66.6667 2.5248
01/31/2014 -0.7647 66.6667 -3.4574
02/28/2014 -7.8809 100 4.5726
03/31/2014 -7.5924 100 0.8408
04/30/2014 -24.1576 100 0.7389
05/31/2014 -3.6096 66.6667 2.3457
06/30/2014 5.022 66.6667 2.0658
07/31/2014 -1.5562 66.6667 -1.3792
08/31/2014 0.4973 100 3.9993
09/30/2014 -2.1242 66.6667 -1.4021
10/31/2014 4.2596 66.6667 2.442
11/30/2014 -16.6535 100 2.6872
12/31/2014 10.0437 100 -0.2573
01/31/2015 -4.5692 100 -3.0018
02/28/2015 14.9673 66.6667 5.746
03/31/2015 -7.734 33.3333 -1.5812
04/30/2015 5.3615 66.6667 0.9581
05/31/2015 10.3969 100 1.2861
06/30/2015 -1.4372 66.6667 -1.9358
07/31/2015 0.2741 66.6667 2.0954
08/31/2015 -13.1821 66.6667 -6.0347
09/30/2015 -7.9902 100 -2.4739
10/31/2015 7.3305 100 8.4352
11/30/2015 -8.2315 100 0.2965
12/31/2015 1.7209 100 -1.5862
01/31/2016 -20.3766 100 -4.9626
02/29/2016 -3.3759 100 -0.1359
03/31/2016 16.4212 66.6667 6.7836
04/30/2016 15.8876 100 0.3879
05/31/2016 -2.5966 100 1.7944
06/30/2016 -19.0742 66.6667 0.2595
07/31/2016 2.0047 100 3.6865
08/31/2016 9.7694 33.3333 0.1407
09/30/2016 1.5152 66.6667 0.0177
10/31/2016 -17.3193 100 -1.8242
11/30/2016 18.9159 66.6667 3.7036
12/31/2016 -9.4277 66.6667 1.9689
01/31/2017 -10.8734 100 1.8966
02/28/2017 -10.192 33.3333 3.9705
03/31/2017 4.1619 66.6667 0.1157
04/30/2017 -4.7912 66.6667 1.0271
05/31/2017 13.9161 66.6667 1.4072
06/30/2017 15.1217 66.6667 0.6232
07/31/2017 5.325 66.6667 2.0562
08/31/2017 0.3351 100 0.3061
09/30/2017 4.4985 100 2.062
10/31/2017 19.9495 33.3333 2.3334
11/30/2017 -7.1264 66.6667 3.0671
12/31/2017 1.9926 100 1.1039
01/31/2018 -0.8301 100 5.7232
02/28/2018 7.4377 100 -3.686
03/31/2018 -10.9749 66.6667 -2.5419
04/30/2018 3.4665 66.6667 0.3836
05/31/2018 17.7725 100 2.4077
06/30/2018 8.132 66.6667 0.6148
07/31/2018 -2.213 33.3333 3.7215
08/31/2018 34.2315 66.6667 3.2583
09/30/2018 2.3706 100 0.5684
10/31/2018 -19.6518 100 -6.8352
11/30/2018 3.432 100 2.0375
12/31/2018 -3.634 66.6667 -9.0339
01/31/2019 32.0664 100 8.0134
02/28/2019 10.2763 100 3.2108
03/31/2019 11.6934 100 1.9425
04/30/2019 -6.3935 100 4.0489
05/31/2019 -20.7911 66.6667 -6.3549
06/30/2019 -4.501 66.6667 7.047
07/31/2019 -0.1599 33.3333 1.4373
08/31/2019 -20.5833 66.6667 -1.584
09/30/2019 -6.4508 33.3333 1.8705
10/31/2019 -6.2602 100 2.1657
11/30/2019 -3.0099 100 3.63
12/31/2019 -10.7194 100 3.0109
01/31/2020 8.9512 100 -0.0439
02/29/2020 -8.1849 100 -8.2321
03/31/2020 -3.0897 100 -12.3519
04/30/2020 27.6609 66.6667 12.8194
05/31/2020 11.6216 66.6667 4.763
06/30/2020 5.6895 100 1.9881
07/31/2020 -3.4602 100 5.6382
08/31/2020 13.6503 66.6667 7.1883
09/30/2020 -5.7999 100 -3.8002
10/31/2020 -3.4423 66.6667 -2.6594
11/30/2020 35.6217 100 10.9462
12/31/2020 -3.0355 100 3.8414
01/31/2021 25.6304 100 -1.0177
02/28/2021 11.3573 66.6667 2.7576
03/31/2021 -19.9593 66.6667 4.3787
04/30/2021 -20.4618 100 5.3368
05/31/2021 10.2491 100 0.6982
06/30/2021 2.2654 66.6667 2.3342
07/31/2021 -22.768 100 2.3753
08/31/2021 8.8573 66.6667 3.0407
09/30/2021 -8.1349 66.6667 -4.6524
10/31/2021 -16.3872 66.6667 7.0051
11/30/2021 -14.3731 100 -0.695
12/31/2021 -16.5315 66.6667 4.4749
01/31/2022 -26.8972 100 -5.1749
02/28/2022 -7.6129 100 -2.997
03/31/2022 3.7383 66.6667 3.7129
04/30/2022 -31.3642 100 -8.72
05/31/2022 -17.6632 100 0.1846
06/30/2022 -12.4296 100 -8.2576
07/31/2022 29.916 100 9.2207
08/31/2022 7.1223 100 -4.0783
09/30/2022 -27.1261 66.6667 -9.2124
10/31/2022 -4.4649 66.6667 8.0963
11/30/2022 2.4947 66.6667 5.5884
12/31/2022 -3.9079 66.6667 -5.7715
01/31/2023 7.6184 100 6.2829
02/28/2023 -5.4136 100 -2.4491
03/31/2023 -0.6425 100 3.6696
04/30/2023 -8.607 33.3333 1.5609
05/31/2023 -7.7505 0 0.4349
06/30/2023 -2.7177 66.6667 6.6074
07/31/2023 6.0737 33.3333 3.2125
08/31/2023 -15.5754 66.6667 -1.5922
09/30/2023 -16.7885 33.3333 -4.7678
10/31/2023 -24.4155 100 -2.1026
11/30/2023 -9.355 66.6667 9.1326
12/31/2023 19.0235 66.6667 4.5311
01/31/2024 -23.5739 33.3333 1.6794
02/29/2024 -5.2807 33.3333 5.3395
03/31/2024 -1.1022 100 3.2174