Past results are not indicative of future results. No assurance can be given that the investment objective may be achieved.

The results presented above are based on the median, or 50th percentile, of rolling 3-year, 5-year and 10-year results using monthly returns since January 2001, the earliest common inception date of the indices used. Median is used to ensure extreme observations are not overrepresented. We believe rolling time periods present more comprehensive data.

Investment allocation tools are for personal use. They are not intended to provide investment advice. This calculator provides analysis based on your input. All examples are for illustrative purposes only.

Investment analysis tools have limitations; results may vary. This information is shown for illustrative purposes only and does not constitute a recommendation for allocations for any account. Allocations will differ for an account because of specific client guidelines, objectives and restrictions.

Volatility: As measured by annualized standard deviation of monthly returns, a risk calculation of the dispersion of individual returns around the average return.

Simulated performance results do not reflect actual trading and have inherent limitations. No representation is made that a client will achieve results similar to those shown. Simulated performance is hypothetical and may not take into account material economic and market factors, such as liquidity constraints, that would impact the client’s actual decision-making. Simulated results are achieved by retroactively applying a model with the benefit of hindsight. The results reflect the reinvestment of dividends and other earnings, but do not reflect fees, transaction costs, and other expenses a client would have to pay, which would reduce returns.

The hypothetical historical returns were created using the percentage allocations indicated above. Any changes will have an impact on the hypothetical historical performance results, which could be material. Hypothetical performance results have many inherent limitations and no representation is being made that any investor will, or is likely to achieve, performance similar to that shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved.

Diversification does not protect an investor from market risk and does not ensure a profit.

Past performance does not guarantee future results, which may vary. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.

Index Benchmarks

Indices are unmanaged. The figures for the index reflect the reinvestment of all income or dividends, as applicable, but do not reflect the deduction of any fees or expenses which would reduce returns. Investors cannot invest directly in indices.

The indices referenced herein have been selected because they are well known, easily recognized by investors, and reflect those indices that the Investment Manager believes, in part based on industry practice, provide a suitable benchmark against which to evaluate the investment or broader market described herein.

US Large Cap Equity is represented by the S&P 500. The S&P 500 Index is the Standard & Poor’s 500 Composite Index of 500 stocks, an unmanaged index of common stock prices.

US Aggregate Bonds are represented by the Bloomberg Barclays Aggregate Bond. The Bloomberg Barclays Aggregate Bond Index represents an unmanaged diversified portfolio of fixed income securities, including U.S. Treasuries, investment-grade corporate bonds, and mortgage backed and asset-backed securies.

Diversifiers are defined as 10% Emerging Debt USD, 22% Global High Yield, 9% Bank Loans, 24% Emerging Market Equity, 18% Global Ex US Developed Small Cap, 5% Global ex US Public Real Estate, 6% US Public Real Estate, 7% Commodities.

Emerging Market Debt is represented by the JPM EMBI Global Composite. The JPM EMBI is an unmanaged index tracking foreign currency denominated debt instruments of 31 emerging markets. 

High Yield Bonds are represented by the Bloomberg Barclays Global High Yield Index. The Bloomberg Barclays Global High Yield Index provides a broad-based measure of the global high-yield fixed income market. 

Bank Loans are represented by the Credit Suisse Leveraged Loan Index. The Credit Suisse Leveraged Loan Index tracks the investable leveraged loan market by representing tradable, senior-secured, US-dollar denominated, noninvestment-grade loans.

Emerging Market Equity is represented by the MSCI Emerging Markets Index. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

International (Global ex-US) Small Cap Equity is represented by the S&P Developed ex US Small Cap Index. The S&P Developed ex US Small Cap Index covers the smallest 20% of companies from developed countries (excluding the US) ranked by total market capitalization.

International (Global ex-US) Real Estate is represented by the S&P Developed ex-US Property Index. The S&P Developed ex-US Property Index measures the performance of real estate companies domiciled in countries outside the United States.

US Real Estate is represented by the Dow Jones US Select Real Estate Securities Index. The Dow Jones US Select RESI is a float-weighted index that measures US publicly traded real estate securities.

Commodities are represented by the S&P GSCI Commodity Index. The S&P GSCI Commodity Index is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures that is broadly diversified across the spectrum of commodities. 

Risk Considerations

Equity securities are more volatile than bonds and subject to greater risks. Stock investments are subject to market risk, which means that the value of the securities may go up or down in response to the prospects of individual companies, particular sectors and/or general economic conditions. Small and mid-sized company stocks involve greater risks than those customarily associated with larger companies.

Bonds are subject to interest rate, price and credit risks. Prices tend to be inversely affected by changes in interest rates. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds.

Investments in foreign securities entail special risks such as currency, political, economic, and market risks. These risks are heightened in emerging markets.

Emerging markets securities may be less liquid and more volatile and are subject to a number of additional risks, including but not limited to currency fluctuations and political instability. The securities markets of emerging countries have less government regulation and are subject to less extensive accounting and financial reporting requirements than the markets of more developed countries. International securities entail special risks such as currency, political, economic, and market risks.

Fixed income investing involves interest rate risk. When interest rates rise, bond prices generally fall.

10-Year Treasuries
A 10-Year Treasury is a debt obligation backed by the United States government and its interest payments are exempt from state and local taxes. However, interest payments are not exempt from federal taxes.

Investments in MLPs are subject to certain risks, including risks related to limited control and limited rights to vote, potential conflicts of interest, cash flow risks, dilution risks, limited liquidity and risks related to the general partner’s right to force sales at undesirable times or prices.

Investments in real estate companies, including REITs or similar structures are subject to volatility and additional risk, including loss in value due to poor management, lowered credit ratings and other factors.

High Yield
Below investment grade (high yield) bonds are more at risk of default and are subject to liquidity risk. They tend to be more volatile than investment grade fixed income securities.

Investments in foreign securities entail special risks such as currency, political, economic, and market risks. These risks are heightened in emerging markets.

Investments in commodities may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity.

The above are not an exhaustive list of potential risks. There may be additional risks that should be considered before investment decision. 

This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.