Page 1 of 27 Hypothetical Portfolio Illustration 09-30 ...

Release date 03-31-2018

Hypothetical Portfolio Illustration 09-30-2014 to 03-31-2018

Page 1 of 27

Portfolio Summary Portfolio

$1,400k 1,260 1,120 980 840 700 560 420 280

Planning Assumptions

Currency

Rebalance

Rebalance Threshold% +/Allocation Update Frequency Federal Income Tax Rate

Capital Gain Tax Rate

State Tax Rate

Tax Paid

USD Annually

0.00%

None

0% 0% 0% Out of Pocket

Performance

Final Market Value

Average Annualized Return Cumulative Return

$1.29 mil 7.62%

29.32%

140

0

09-14

12-14

03-15

06-15

09-15

12-15

03-16

06-16

09-16

12-16

03-17

06-17

09-17

12-17

Portfolio-Level Performance Disclosure

The portfolio-level performance shown is hypothetical and for illustrative purposes only. Investor returns will differ from the results shown.

Investment Detail Period

Totals

September-December 2014 January-December 2015 January-December 2016 January-December 2017

January-March

2018

Beginning Balance 0

0 1,014,100 1,007,600 1,102,200

1,301,500

New Investment

1,000,000

1,000,000 0 0 0

0

Distribution/ Withdrawal

0

0 0 0 0

0

Total Reinvest

0

0 0 0 0

0

Charges & Fees 0

0 0 0 0

0

Taxes Due 0

0 0 0 0

0

Market Value

1,293,200

1,014,100 1,007,600 1,102,200 1,301,500

1,293,200

Total Return %

7.62

1.41 -0.64 9.39 18.08

-0.64

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Hypothetical Portfolio Illustration Continued 09-30-2014 to 03-31-2018

Page 2 of 27

Security Summary

$1,400k % of Total Market Value 1,260 Start

1,120

980

840

End

700

560

420

280

140

0

09-14

12-14

03-15

06-15

09-15

12-15

03-16

06-16

09-16

12-16

03-17

06-17

09-17

12-17

09-30-2014 03-31-2018

Investment Assumptions

Separate Accounts Name

Holding Period Start End

BlackRock 80/20 Target Allocation 09-14 03-18 ETF (USD)

Initial Investment

Amount

1.00 mil

Subsequent Invest/Withdwl Amount Freq

0--

Reinvest LiquiDistributions date Income Cap Gains

Y

YN

Rebalance

(%)

100.00

Charges and Fees Front Annual Deferred Load Period Load Fee Amount% Years

$0.00 0.00% 0.00-0.00 --

Market Value End ($)

1.29 mil

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Portfolio X-Ray?

Asset Allocation 03-31-2018

Asset Allocation

Cash US Stocks Non-US Stocks Bonds Other/Not Clsfd

Page 3 of 27

Benchmark Custom

Portfolio %

0.82 53.79 29.95 15.34 0.11

Bmark (%)

2.06 53.74 30.07 14.10 0.03

Stock Analysis 03-31-2018 Stock Sectors

Sensitive

Benchmark Portfolio

Market Value $1,293,200.00

World Regions Greater Asia Americas

Greater Europe

Defensive

Bond Analysis 03-31-2018

Fixed-Income Sectors

Portfolio (%)

/ Government

50.03

< Municipal

0.00

> Corporate

38.69

Securitized

7.76

fi Cash & Equivalents

3.51

? Derivative

0.00

Bmark (%) 40.85 0.55 23.55 20.18 14.87 0.00

Portfolio

Bmark

0% 10 20 30 40 50 60 70 80 90 100

Maturity Breakdown Effective Maturity 1-3 3-5 5-7 7-10 10-15 15-20 20-30 >30

Portfolio (%) 12.37 14.70 9.22 30.01 4.28 2.72 25.66 1.03

Credit Quality Breakdown Credit Quality AAA AA A BBB BB B Below B NR

Portfolio (%) -- -- -- -- -- -- --

100.00

Cyclical

h Cyclical

Portfolio (%) 39.06

r Basic Matls

5.28

t Consumer Cycl 11.52

y Financial Svs 18.41

u Real Estate

3.85

j Sensitive

i Commun Svs o Energy p Industrials a Technology

36.37 3.72 5.67 11.67 15.31

k Defensive

s Consumer Def d Healthcare f Utilities

24.57 9.17 11.85 3.55

Not Classified

0.00

Bmark (%) 37.66 4.73 11.83 18.38 2.72

37.76 3.58 5.63 11.62 16.93

24.58 9.04 12.53 3.01

0.00

75%

Bmark (%) 64.12 64.12 0.00

22.52 6.13 16.23 0.00 0.16

13.36 8.78 2.37 1.73 0.48

0.00

Large Mid Small High Med Low

Investment Style 03-31-2018

000 0 0 100

Fixed-Income Style

Effective Duration Effective Maturity

000

Ltd Mod Ext

Portfolio

7.57 10.70

Bmark

5.90 3.11

27 25 22 665 333

Value Blend Growth

Equity Style

Average Market Cap ($mil) Price/Earnings Price/Book Price/Sales Price/Cash Flow

Portfolio

Bmark

36,403.67 68,943.98

19.11 18.23

2.21

2.31

1.55

1.67

10.80 11.25

0-10 10-25 25-50 >50

0-10 10-25 25-50 >50

Top 10 Net Underlying Holdings 03-31-2018

Assets % 1.43 1.22 1.02 0.80 0.78

Name Apple Inc(USD) Microsoft Corp(USD) Inc(USD) Berkshire Hathaway Inc B(USD) JPMorgan Chase & Co(USD)

0.70 Exxon Mobil Corp(USD) 0.67 Facebook Inc A(USD) 0.65 Johnson & Johnson(USD) 0.54 Alphabet Inc A(USD) 0.54 Alphabet Inc C(USD)

Type

Sector

Country

ST

Technology

United States

ST

Technology

United States

ST

Consumer Cyclical

United States

ST

Financial Services

United States

ST

Financial Services

United States

ST

Energy

United States

ST

Technology

United States

ST

Healthcare

United States

ST

Technology

United States

ST

Technology

United States

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Portfolio X-Ray?

Portfolio Holdings

Portfolio Holdings 03-31-2018 Total: 1 Holding BlackRock 80/20 Target Allocation ETF (USD)

Page 4 of 27

Benchmark Custom

Type

Fund Portfolio Date

Assets %

SA

04-30-2017

100.00

Market Value $ 1,293,200

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Portfolio Snapshot

Portfolio Value $1,293,200.00

Benchmark Custom

Page 5 of 27

High Med Low Large Mid Small

Sensitive

Analysis 03-31-2018

Asset Allocation

Cash US Stocks Non-US Stocks Bonds Other/Not Clsfd

Portfolio Net %

0.82 53.79 29.95 15.34 0.11

Bmark Net %

2.06 53.74 30.07 14.10 0.03

Morningstar Equity Style Box %

27 25 22

Total Stock Holdings 5,912

665

% Not Classified 0

Morningstar Fixed Income Style Box %

000

Total Bond Holdings 2,700

0 0 100

% Not Classified 0

333

Value Blend Growth

000

Ltd Mod Ext

0-10 10-25 25-50 >50

0-10 10-25 25-50 >50

Stock Analysis 03-31-2018 Stock Sectors

Benchmark Portfolio

World Regions Greater Asia Americas

Greater Europe

Performance 03-31-2018 Investment Activity Graph

Portfolio Benchmark

Final Mkt Val: $1,293,200

$1,420k

1,320

1,220

Defensive

1,120

Cyclical

1,020

75%

920

09-14

03-15

09-15

03-16

09-16

03-17

09-17

Portfolio (%) Bmark (%)

h Cyclical

39.06

37.66

r Basic Matls

5.28 4.73

t Consumer Cycl 11.52 11.83

y Financial Svs 18.41 18.38

u Real Estate

3.85 2.72

j Sensitive

i Commun Svs o Energy p Industrials a Technology

36.37 3.72 5.67 11.67 15.31

37.76 3.58 5.63 11.62 16.93

k Defensive

s Consumer Def d Healthcare f Utilities

24.57 9.17 11.85 3.55

24.58 9.04 12.53 3.01

Not Classified

0.00 0.00

Americas North America Latin America

Portfolio (%) 65.30 64.24 1.06

Bmark (%) 64.12 64.12 0.00

Greater Europe United Kingdom Europe-Developed Europe-Emerging Africa/Middle East

18.56 4.79 12.42 0.52 0.83

22.52 6.13 16.23 0.00 0.16

Greater Asia Japan Australasia Asia-Developed Asia-Emerging

16.14

13.36

6.42

8.78

2.05

2.37

3.60

1.73

4.07

0.48

Not Classified

0.00

0.00

Holdings 03-31-2018

Top 1 holding out of 1 BlackRock 80/20 Target Allocation ETF (USD)

Trailing Returns Portfolio Return Benchmark Return +/- Benchmark Return

3 Mo

1 Yr

3 Yr

-0.64 12.09

7.52

-1.05 12.14

7.72

0.41 -0.05 -0.20

5 Yr

10 Yr

--

--

--

--

--

--

Best/Worst Time Periods

3 Months 1 Year 3 Years

Best %

7.34 ( Mar 2016-May 2016 ) 21.02 ( Feb 2017-Jan 2018 ) 10.27 ( Feb 2015-Jan 2018 )

Worst %

-6.71 ( Jul 2015-Sep 2015 ) -8.12 ( Mar 2015-Feb 2016 ) 7.41 ( Oct 2014-Sep 2017 )

Portfolio Yield ( 03-31-2018 ) 12-Month Yield

Yield % --

Portfolio-Level Performance Disclosure

The portfolio-level performance shown is hypothetical and for illustrative purposes only. Investor returns will differ from the results shown.

Symbol F00000XJX2

Type

Holding Value $ % Assets

SA

1,293,200

100.00

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Portfolio Snapshot

Portfolio Value $1,293,200.00

Benchmark Custom

Page 6 of 27

Risk Analysis 03-31-2018

Risk/Reward Scatterplot

8.0 8.1 8.2 8.3 8.4 3 Year Standard Deviation

Portfolio 8.5 8.6 8.7

Holdings 8.8 8.9 9.0

Bmark 9.1 9.2

3 Year Mean 7.91 7.86 7.81 7.76 7.71 7.66 7.61 7.56 7.51 7.46 7.41

9.3 9.4

Performance History Graph

2014

2015

Portfolio 2016

Quarterly returns +/- Benchmark in % 10.0%

8.0

6.0

4.0

2.0

Bmark

-2.0

2017

2018

Risk and Return Statistics

Standard Deviation Mean Sharpe Ratio

3 Yr Portfolio Bmark

8.16 8.85 7.52 7.72 0.89 0.85

Portfolio

-- -- --

5 Yr Bmark

-- -- --

10 Yr MPT Statistics Portfolio Bmark

-- -- Alpha -- -- Beta -- -- R-Squared

3 Yr Portfolio

0.44 0.91 96.60

5 Yr Portfolio

-- -- --

10 Yr Portfolio

-- -- --

Portfolio-Level Performance Disclosure

The portfolio-level performance shown is hypothetical and for illustrative purposes only. Investor returns will differ from the results shown.

Fundamental Analysis 03-31-2018

Asset Allocation

Cash US Stocks Non-US Stocks Bonds Other/Not Clsfd

-100 -50 0 50 100 Total

Portfolio Net %

0.82 53.79 29.95 15.34 0.11

100.00

Portfolio Long %

0.89 53.79 29.95 15.34 0.11

100.07

Portfolio Short %

0.07 0.00 0.00 0.00 0.00

0.07

Type Weightings % of Stocks n High Yield b Distressed v Hard Asset m Cyclical x Slow Growth z Classic Growth l Aggressive Growth c Speculative Growth

Not Available

Portfolio 3.35 4.03 6.12

42.05 19.48 11.00 8.39 1.44 4.14

Bmark 1.85 0.36 4.86

28.18 13.97 5.47 4.29 3.08 37.93

0% 5 10 15 20 25 30 35 40 45 50

Market Maturity % of Stocks Developed Markets Emerging Markets Not Available

Valuation Multiples Price/Earnings Price/Book Price/Sales Price/Cash Flow

Profitability % of Stocks

Net Margin ROE ROA Debt/Capital

Portfolio 93.83 6.17 0.00

Bmark 99.52

0.48 0.00

Portfolio 19.11 2.21 1.55 10.80

Bmark 18.23

2.31 1.67 11.25

Portfolio Bmark 2018-03 2018-03

13.34 17.47 6.11 38.38

13.86 19.26 6.55 39.90

Fund Statistics

Potential Cap Gains Exposure

--

Avg Net Expense Ratio

--

Avg Gross Expense Ratio

--

Geometric Avg Capitalization ($Mil)

Portfolio

36,403.67

Benchmark

68,943.98

Credit Quality Breakdown AAA AA A BBB BB B Below B NR

% of Bonds -- -- -- -- -- -- --

100.00

Interest Rate Risk

Avg Eff Maturity Avg Eff Duration Avg Wtd Coupon

Bonds

10.70 7.57 3.07

% Not Available

0.00

0.00

0.00

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Portfolio Snapshot

Portfolio Value $1,293,200.00

Benchmark Custom

Page 7 of 27

Illustration Returns

Total 1 holding as of 03-31-2018 Symbol

Type

BlackRock 80/20 Target Allocation ETF (USD)

F00000XJX2 SA

Holdings Date

04-2017

% of Assets

100.00

Holding 30-day SEC 30-day SEC

Value $

Yield

Yield

Subsidized Unsubsidized

1,293,200

--

--

1 Yr Ret %

12.09

3 Yr Ret %

7.52

5 Yr Ret %

--

10 Yr Ret %

--

Performance Disclosure

The performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate; thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than return data quoted herein. For performance data current to the most recent month-end, please visit .

See Disclosure Page for Standardized Returns.

?2018 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial advisor which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 03-31-2018

Page 8 of 27

BlackRock 80/20 Target Allocation ETF (USD)

Overall Morningstar RatingTM Standard Index

QQQQ

Morningstar Mod Tgt Risk TR USD

Category Index

Morningstar Mod Agg Tgt Risk TR USD

Morningstar CategoryTM

Allocation--70% to 85% Equity

Customization

Exclude securities

--

Modify sector weightings

--

Consult with portfolio manager

--

Consult with portfolio administrator

--

Tax Lot Harvest Rpt to Advisor

--

Access daily portfolio holdings

--

Access daily performance

--

Access daily risk/MPT stats

--

Annual tax document

--

Tax-Efficiency

Use of tax-optimization software

--

Use of tax-lot trading strategies

--

Ability to harvest tax losses

--

Trades analyzed by holding period

--

Lg-term cap gain use in position chgs

--

Analysis of taxable income streams

--

Sell high cost positions first

--

Short-term gain flag before trade

--

Analysis of loss candidates

--

Portfolio Manager(s)

Michael Gates Since 09-30-2014,Anurag Dugar Since 09-302014

Rating and Risk

Time Period

3 Yr 5 Yr 10 Yr

Morningstar Rtn vs Cat

Avg -- --

Morningstar Risk vs Cat

Avg -- --

Morningstar Rating

4Q --

--

Gross Performance 03-31-2018

1st Qtr 2nd Qtr 3rd Qtr

2014

---- --

2015

2.57 -0.39 -6.71

2016

0.99 2.56 3.38

2017

4.67 3.11 4.18

2018

-0.63 --

--

4th Qtr

1.41 4.25 2.16 5.02

--

Total

-- -0.64 9.39 18.08

--

Trailing

1 Mo 3 Mo 1 Yr 3 Yr

Total Return %

-0.92 -0.63 12.10 7.53

+/- Std Index

-- -- -- --

% Rank Cat

49 64 46 31

Growth of $10,000

9908 9937 11210 12433

Risk and Return Profile Standard Index

Alpha Beta R-Squared

Standard Deviation Mean Sharpe Ratio

12-Month Yield

-0.04 1.27 94.95

Best Fit Index Morningstar Agg Tgt

Risk TR USD

0.35 0.81 96.50

8.16 7.53 0.86

--

100k 80k

Growth of $10,000

60k

BlackRock 80/20 Target

40k

Allocation ETF

$12,932

20k

Category Average

$12,728

10k

Standard Index $12,261

4k

________&**_

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 03-18

-- -- -- -- -- -- -- -- -0.64 9.39 18.08 -0.63 -- -- -- -- -- -- -- -- 1.15 0.82 3.42 -- -- -- -- -- -- -- -- -- 1.76 -0.83 -0.81 -- -- -- -- -- -- -- -- -- 23 38 50 --

------------------------

------------------------

------------------------

------------------------

--------------

0

0 103 677 802

Performance Quartile (within category)

History

Total Return % +/- Standard Index +/- Category Index Total Rtn % Rank Cat Dispersion High Low Median Std Dev of Accounts Product Assets $mil

Portfolio Analysis 04-30-2017

Composition %

Cash US Stocks Non-US Stocks Bonds Other/Not Clsfd

Net %

0.82 53.79 29.95 15.34 0.11

Total

100.00

Long %

0.89 53.79 29.95 15.34 0.11

100.07

Short %

0.07 0.00 0.00 0.00 0.00

0.07

Equity Style

Value Blend Growth

Large Mid Small

Market Cap

Giant Large Medium Small Micro

Geo Avg Cap($mil)

Rel

44.2 31.0 16.3 6.7 1.8

36,403.7

Value Grades

Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield

%

19.11 2.21 1.55 10.80 2.50

Growth Grades

Projected Erngs Book Value Sales Cash Flow Trailing Earnings

%

9.68 1.92 -5.02 -0.44 -15.24

High Med Low

Fixed-Income Style

Avg Eff Duration Avg Eff Maturity Avg Wtd Coupon Avg Wtd Price

Ltd Mod Ext

7.57 10.70 3.07 104.06

Account Size Breakdown

Less than $250,000 $250,000 - $1 million $1 million - $10 million More than $10 million

Total Account Value( $mil)

-- -- -- --

Number of Accounts

-- -- -- --

Share Chg since 04-2016

R T Y Y Y

R T Y Y Y

T

T Y R

Share Amount

22 111 23 34 12

Holdings : 5,913 Total Stocks , 2,700 Total Fixed-Income, 80% Turnover Ratio

iShares Core S&P 500 iShares Currency Hedged MSCI EAFE iShares S&P 500 Value iShares Core MSCI EAFE iShares S&P 500 Growth

32 iShares Core MSCI Emerging Markets 8 iShares Core S&P Mid-Cap 13 iShares Core S&P Small-Cap 17 iShares Short Maturity Bond 7 iShares iBoxx $ Invst Grade Crp Bo

4 iShares 20+ Year Treasury Bond 4 iShares JPMorgan USD Emerg Markets 4 iShares TIPS Bond 9 iShares Edge MSCI Min Vol USA 4 iShares 7-10 Year Treasury Bond

Sector Weightings

h Cyclical r Basic Materials t Consumer Cyclical y Financial Services u Real Estate

j Sensitive i Communication Services o Energy p Industrials a Technology

k Defensive s Consumer Defensive d Healthcare f Utilities

Stocks %

39.1 5.3 11.5 18.4 3.9

36.4 3.7 5.7 11.7 15.3

24.6 9.2 11.8 3.6

Net Assets %

23.75 13.95 10.77 9.12 7.25

7.02 6.22 4.09 3.85 3.75

2.20 2.08 2.07 1.96 1.92

Rel Std Index 0.94

0.93 1.01 1.00 0.64

0.99 1.13 0.97 0.99 0.97

1.13 1.15 1.12 1.10

Operations

Product Focus: Investment Minimum( $mil): % Portfolios Customized: % Portfolio Tax-Managed:

Retail -- -- --

Address: Phone: Web Address:

55 E. 52nd Street 212.810.5300

Date of Inception: GIPS Compliance Date: No. of Accounts: Total Assets:

2014-09-30 -- 0 $802.35 mil

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