All information for an index prior to its Inception Date is back-tested, based on the methodology that was in effect on the Inception Date. Back-tested performance, which is hypothetical and not actual performance, can frequently result in material differences between back-tested results and actual results achieved by an investment strategy.
Past performance of an index is not a guarantee of future results. Charts, graphs, and other performance indicators are provided for illustrative purposes and may reflect hypothetical historical performance. The back-test period does not necessarily correspond to the entire available history of any particular index.
Back-tested calculations are generally prepared with the benefit of hindsight. No hypothetical calculation can comprehensively account for all the factors that may impact actual performance. Index returns shown do not represent the results of any strategy tracking the index, including any sales charges, commissions, or other fees charged to purchase securities, fund, or other investment vehicles.
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