Backtest Portfolio Asset Allocation

This portfolio backtesting tool allows you to construct one or more portfolios based on the selected mutual funds, ETFs, and stocks. You can analyze and backtest portfolio returns, risk characteristics, style exposures, and drawdowns. The results cover both returns and fund fundamentals based portfolio style analysis along with risk and return decomposition by each portfolio asset. You can compare up to three different portfolios against the selected benchmark, and you can also specify any periodic contribution or withdrawal cashflows and the preferred portfolio rebalancing strategy.

The related asset class level portfolio modeling tool allows you to analyze and compare asset class level portfolios with a longer time horizon starting from 1972.

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Portfolio Assets 
Asset 1
Asset 2
Asset 3
Asset 4
Asset 5
Asset 6
Asset 7
Asset 8
Asset 9
Asset 10
Asset 11
Asset 12
Asset 13
Asset 14
Asset 15

Portfolio Analysis Results (Jan 2008 - Dec 2017)

Portfolio Allocations

Portfolio 1
Ticker Name Allocation
DFUSX DFA US Large Company I 20.00%
DFLVX DFA US Large Cap Value I 20.00%
DFSCX DFA US Micro Cap I 10.00%
DFSVX DFA US Small Cap Value I 10.00%
DFREX DFA Real Estate Securities I 10.00%
DFIVX DFA International Value I 10.00%
DFISX DFA International Small Company I 5.00%
DISVX DFA International Small Cap Value I 5.00%
DFEMX DFA Emerging Markets I 3.00%
DFEVX DFA Emerging Markets Value I 3.00%
DEMSX DFA Emerging Markets Small Cap I 4.00%
Save portfolio »
Portfolio 2
Ticker Name Allocation
GLD SPDR Gold Shares 100.00%
Save portfolio »

Portfolio Returns

Portfolio performance statistics
PortfolioInitial BalanceFinal BalanceCAGRTWRRMWRRStdevBest YearWorst YearMax. DrawdownSharpe RatioSortino RatioMarket Correlation
Portfolio 1$1,000,000$1,059,318 0.58% 7.44%5.87%18.51%37.28%-40.79%-54.08%
Portfolio 2$1,000,000$924,758 -0.78% 4.13%4.82%19.00%29.27%-28.33%-42.91%
* The number in parentheses shows the calculated value taking into account the periodic withdrawals.

Trailing Returns

Trailing Returns
NameTotal ReturnAnnualized ReturnAnnualized Standard Deviation
3 MonthYear To Date1 year3 year5 year10 yearFull3 year5 year
Portfolio 15.43%19.59%19.59%10.27%13.04%7.44%7.44%10.22%9.88%
Portfolio 21.70%12.81%12.81%2.87%-5.26%4.13%4.13%15.53%16.06%
Trailing return and volatility are as of last full calendar month ending December 2017
Notes on results:
  • IMPORTANT: The projections or other information generated by Portfolio Visualizer regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Results may vary with each use and over time.
  • The results do not constitute investment advice or recommendation, are provided solely for informational purposes, and are not an offer to buy or sell any securities. All use is subject to terms of service.
  • Investing involves risk, including possible loss of principal. Past performance is not a guarantee of future results.
  • Asset allocation and diversification strategies do not guarantee a profit or protect against a loss.
  • Hypothetical returns do not reflect trading costs, transaction fees, commissions, or actual taxes due on investment returns.
  • The results are based on information from a variety of sources we consider reliable, but we do not represent that the information is accurate or complete.
  • Refer to the related documentation sections for more details on terms and definitions, methodology, and data sources.
  • Portfolio model information represents a blended portfolio consisting of the model's underlying positions and assigned weights provided by the user and rebalanced at the specified schedule. The results were constructed using net of fee mutual fund performance. Portfolio Visualizer does not provide preferential treatment to any specific security or investment.
  • The results are based on the total return of assets and assume that all received dividends and distributions are reinvested.
  • Market capitalization refers to the total value of all a company's shares of stock. It is calculated by multiplying the price of a stock by its total number of outstanding shares. Large cap refers to a company with a market capitalization value of more than $10 billion, mid cap refers to a company with a market capitalization value between $2 and $10 billion, and small cap refers to a company with a market capitalization value below $2 billion. For funds and portfolios the equity market capitalization is calculated based on the long position of the equity holdings.
  • Credit quality measures the ability of a bond issuer to repay a bond's interest and principal in a timely manner. Ratings agencies research the financial health of each bond issuer and assign ratings to the bonds being offered. Lower-rated bonds generally offer higher yields to compensate investors for the additional risk. AAA is the highest possible rating that may be assigned to an issuer's bonds by any of the major credit rating agencies. Bonds rated AAA to AA are known as high-grade bonds, bonds rated A to BBB are known as medium-grade bonds, and bonds rated BB to C are known as non-investment grade bonds. An issuer will receive a rating of D if it is already in default on some of its debt. For funds and portfolios the fixed income credit quality break-down is calculated based on the long position of the fixed income holdings.
  • A fixed income maturity date refers to the specific date on which the investor's principal will be repaid. Duration measures a bond's or fixed income portfolio's price sensitivity to interest rate changes. If a bond has a duration of 5 years, and interest rates increase by 1%, the bond's price will decline by approximately 5%. Conversely, if a bond has a duration of 5 years and interest rates fall by 1%, the bond's price will increase by approximately 5%. A fixed income portfolio's duration is computed as the weighted average of individual bond durations held in the portfolio.
  • Compound annualized growth rate (CAGR) is the annualized geometric mean return of the portfolio. It is calculated from the portfolio start and end balance and is thus impacted by any cashflows.
  • The time-weighted rate of return (TWRR) is a measure of the compound rate of growth in a portfolio. This is calculated from the holding period returns (e.g. monthly returns), and TWRR will thus not be impacted by cashflows. If there are no external cashflows, TWRR will equal CAGR.
  • The money-weighted rate of return (MWRR) is the internal rate of return (IRR) taking into account cashflows. This is the discount rate at which the present value of cash inflows equals the present value of cash outflows.
  • Total return is the combined return in income and capital appreciation from investment in an asset. Yield measures the current cash income received from investment in an asset. Bonds provide yield in the form of interest payments and stocks through dividends.
  • Standard deviation (Stdev) is used to measure the dispersion of returns around the mean and is often used as a measure of risk. A higher standard deviation implies greater the dispersion of data points around the mean.
  • Sharpe Ratio is a measure of risk-adjusted performance of the portfolio, and it is calculated by dividing the mean monthly excess return of the portfolio over the risk-free rate by the standard deviation of excess return, and the displayed value is annualized.
  • Sortino Ratio is a measure of risk-adjusted return which is a modification of the Sharpe Ratio. While the latter is the ratio of average returns in excess of a risk-free rate divided by the standard deviation of those excess returns, the Sortino Ratio has the same denominator divided by the standard deviation of returns below the risk-free rate.
  • Treynor Ratio is a measure of risk-adjusted performance of the portfolio. It is similar to the Sharpe Ratio, but it uses portfolio beta (systematic risk) as the risk metric in the denominator.
  • Calmar Ratio is a measure of risk-adjusted performance of the portfolio. It is calculated as the annualized return over the past 36 months divided by the maximum drawdown over the past 36 months based on monthly returns.
  • Risk-free returns are calculated based on the Federal Reserve 3-Month Treasury Bill (secondary market) rates.
  • Downside deviation measures the downside volatility of the portfolio returns unlike standard deviation, which includes both upside and downside deviations. Downside deviation is calculated based on negative returns that hurt the portfolio performance.
  • Correlation measures to what degree the returns of the two assets move in relation to each other. Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much. Asset correlations are calculated based on monthly returns.
  • Skewness is a measure of the asymmetry of the probability distribution or returns from a normal Gaussian distribution shape about its mean. Negative skewness is associated with the left (typically negative returns) tail of the distribution extending further than the right tail; and positive skewness is associated with the right (typically positive returns) tail of the distribution extending further than the left tail.
  • Excess kurtosis is a measure of whether a data distribution is peaked or flat relative to a normal distribution. Distributions with high kurtosis tend to have a distinct peak near the mean, decline rather rapidly, and have heavy or fat tails.
  • A drawdown refers to the decline in value of a single investment or an investment portfolio from a relative peak value to a relative trough. A maximum drawdown (Max Drawdown) is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. Drawdown values are calculated based on monthly returns.
  • Value at Risk (VaR) measures the scale of loss at a given confidence level. If the 5% VaR is -3% the portfolio return is expected to be greater than -3% 95% of the time and less than -3% 5% of the time. Value at Risk can be calculated directly based on historical returns based on a given percentile or analytically based on the mean and standard deviation of the returns.
  • Conditional Value at Risk (CVaR) measures the scale of the expected loss once the specific Value at Risk (VaR) breakpoint has been breached, i.e., it calculates the average tail loss by taking a weighted average between the value at risk and losses exceeding the value at risk.
  • Beta is a measure of systematic risk and measures the volatility of a particular investment relative to the market or its benchmark. Alpha measures the active return of the investment compared to the market benchmark return. R-squared is the percentage of a portfolio's movements that can be explained by movements in the selected benchmark index.
  • Active return is the investment return minus the return of its benchmark. For periods longer than 12 months this is displayed as annualized value, i.e., annualized investment return minus annualized benchmark return.
  • Tracking error, also known as active risk, is the standard deviation of active return. This is displayed as annualized value based on the standard deviation of monthly active returns.
  • Information ratio is the active return divided by the tracking error. It measures whether the investment outperformed its benchmark consistently.
  • Gain/Loss ratio is a measure of downside risk, and it is calculated as the average positive return in up periods divided by the average negative return in down periods.
  • Upside Capture Ratio measures how well the fund performed relative to the benchmark when the market was up, and Downside Capture Ratio measures how well the fund performed relative to the benchmark when the market was down. An upside capture ratio greater than 100 would indicate that the fund outperformed its benchmark when the market was up, and a downside capture ratio below 100 would indicate that the fund lost less than its benchmark when the market was down. To calculate upside capture ratio a new series from the portfolio returns is constructed by dropping all time periods where the benchmark return is less than equal to zero. The up capture is then the quotient of the annualized return of the resulting manager series, divided by the annualized return of the resulting benchmark series. The downside capture ratio is calculated analogously.
  • All risk measures for the portfolio and portfolio assets are calculated based on monthly returns.
  • Gross expense ratio reflects the total annual operating expenses paid by each fund. Net expense ratio reflects what investors were charged after waivers, reductions, and reimbursements.
  • Price to earnings (P/E) ratio of a stock is calculated by dividing the current price of the stock by its trailing 12 months' earnings per share. For funds the price to earnings ratio is computed as the weighted average of fund holdings.
  • Drawdown analysis is calculated based on monthly returns excluding cashflows.
  • The results assume annual rebalancing of portfolio assets to match the specified allocation.
  • Inflation adjusted annual withdrawal of $50,000 was applied at the end of each period. This is reflected in the CAGR and maximum drawdown shown above.
Annual returns for the configured portfolios
YearInflationCashflowPortfolio 1Portfolio 2DFA US Large Company I (DFUSX)DFA US Large Cap Value I (DFLVX)DFA US Micro Cap I (DFSCX)DFA US Small Cap Value I (DFSVX)DFA Real Estate Securities I (DFREX)DFA International Value I (DFIVX)DFA International Small Company I (DFISX)DFA International Small Cap Value I (DISVX)DFA Emerging Markets I (DFEMX)DFA Emerging Markets Value I (DFEVX)DFA Emerging Markets Small Cap I (DEMSX)SPDR Gold Shares (GLD)
Monthly returns for the configured portfolios
YearMonthPortfolio 1Portfolio 2DFA US Large Company I (DFUSX)DFA US Large Cap Value I (DFLVX)DFA US Micro Cap I (DFSCX)DFA US Small Cap Value I (DFSVX)DFA Real Estate Securities I (DFREX)DFA International Value I (DFIVX)DFA International Small Company I (DFISX)DFA International Small Cap Value I (DISVX)DFA Emerging Markets I (DFEMX)DFA Emerging Markets Value I (DFEVX)DFA Emerging Markets Small Cap I (DEMSX)SPDR Gold Shares (GLD)
* End-of-month balance includes the annual contribution/withdrawal

Returns Based Style Analysis

Returns Based Style Analysis
Style CategoryPortfolio 1
Large-cap Value22.86%
Large-cap Growth0.00%
Mid-cap Value13.85%
Mid-cap Growth3.94%
Small-cap Value22.53%
Small-cap Growth0.00%
Global ex-US Developed Markets24.36%
Emerging Markets12.45%
Corporate Bonds0.00%
Long-Term Treasuries0.00%
Intermediate-Term Treasuries0.00%
Short-Term Treasuries0.00%
R Squared98.84%
Style analysis is based on monthly returns from January 2008 to December 2017 and uses total portfolio return with monthly rebalancing. Returns based style analysis aims to explain the portfolio returns based on asset class exposures, it does not identify the actual portfolio holdings.

Holdings Based Style Analysis for Portfolio 1

Holdings Based Style Analysis for Portfolio 1
TickerNameCategoryWeightTTM YieldExpense RatioP/EContribution
DFUSXDFA US Large Company ILarge Blend20.00%1.25%0.08%0.09%18.45$139,97515.70%
DFLVXDFA US Large Cap Value ILarge Value20.00%1.80%0.22%0.32%11.03$146,76420.21%
DFSCXDFA US Micro Cap ISmall Blend10.00%0.96%0.41%0.41%10.53$76,66610.21%
DFSVXDFA US Small Cap Value ISmall Value10.00%1.41%0.30%0.30%8.05$71,42111.12%
DFREXDFA Real Estate Securities IReal Estate10.00%1.53%0.18%0.20%29.74$62,62110.97%
DFIVXDFA International Value IForeign Large Value10.00%5.04%0.29%0.49%8.32$17,45310.90%
DFISXDFA International Small Company IForeign Small/Mid Blend5.00%3.12%0.39%0.39%9.87$25,1954.67%
DISVXDFA International Small Cap Value IForeign Small/Mid Value5.00%3.57%0.42%0.42%7.16$25,4475.00%
DFEMXDFA Emerging Markets IDiversified Emerging Mkts3.00%2.85%0.36%0.46%9.72$8,9903.11%
DFEVXDFA Emerging Markets Value IDiversified Emerging Mkts3.00%4.58%0.45%0.55%6.77$8,5103.62%
DEMSXDFA Emerging Markets Small Cap IDiversified Emerging Mkts4.00%4.31%0.60%0.80%9.53$22,1284.49%

Asset Allocation

Equity Market Capitalization

Equity Sectors

Holdings Based Style Analysis for Portfolio 2

Holdings Based Style Analysis for Portfolio 2
TickerNameCategoryWeightExpense RatioContribution
GLDSPDR Gold SharesCommodities Focused100.00%0.40%0.40%$470,610100.00%

Asset Allocation

Fund fundamentals data as of 08/05/2022. (c) 2022 Morningstar. All Rights Reserved. The fund fundamentals information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Portfolio return and risk metrics
MetricPortfolio 1Portfolio 2
Arithmetic Mean (monthly)0.75%0.49%
Arithmetic Mean (annualized)9.32%6.01%
Geometric Mean (monthly)0.60%0.34%
Geometric Mean (annualized)7.44%4.13%
Standard Deviation (monthly)5.34%5.48%
Standard Deviation (annualized)18.51%19.00%
Downside Deviation (monthly)3.77%3.60%
Maximum Drawdown-54.08%-42.91%
Stock Market Correlation0.980.03
Alpha (annualized)-2.08%5.51%
Sharpe Ratio0.460.29
Sortino Ratio0.660.44
Treynor Ratio (%)7.43152.95
Calmar Ratio0.810.16
Active Return-1.16%-4.46%
Tracking Error4.75%24.21%
Information Ratio-0.24-0.18
Excess Kurtosis3.320.08
Historical Value-at-Risk (5%)-9.04%-7.60%
Analytical Value-at-Risk (5%)-8.03%-8.53%
Conditional Value-at-Risk (5%)-13.00%-11.10%
Upside Capture Ratio (%)107.922.75
Downside Capture Ratio (%)115.26-21.71
Safe Withdrawal Rate10.35%13.05%
Perpetual Withdrawal Rate5.42%2.42%
Positive Periods79 out of 120 (65.83%)62 out of 120 (51.67%)
Gain/Loss Ratio0.771.17
* US stock market is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.

Drawdowns for Portfolio 1

Drawdowns for Portfolio 1 (worst 10)
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Jan 2008Feb 20091 year 2 monthsJan 20111 year 11 months3 years 1 month-54.08%
2May 2011Sep 20115 monthsDec 20121 year 3 months1 year 8 months-22.75%
3Jun 2015Feb 20169 monthsJul 20165 months1 year 2 months-12.65%
4Sep 2014Sep 20141 monthFeb 20155 months6 months-4.34%
5Jan 2014Jan 20141 monthFeb 20141 month2 months-3.14%
6Aug 2013Aug 20131 monthSep 20131 month2 months-3.11%
7Jun 2013Jun 20131 monthJul 20131 month2 months-2.02%
8Jul 2014Jul 20141 monthAug 20141 month2 months-1.98%
9Oct 2016Oct 20161 monthNov 20161 month2 months-1.96%
10Mar 2015Mar 20151 monthApr 20151 month2 months-0.70%
Worst 10 drawdowns included above

Drawdowns for Portfolio 2

Drawdowns for Portfolio 2
RankStartEndLengthRecovery ByRecovery TimeUnderwater PeriodDrawdown
1Sep 2011Dec 20154 years 4 months-42.91%
2Mar 2008Oct 20088 monthsMay 20097 months1 year 3 months-25.83%
3Dec 2009Jan 20102 monthsMay 20104 months6 months-8.37%
4Jan 2011Jan 20111 monthMar 20112 months3 months-6.38%
5Jun 2009Jun 20091 monthSep 20093 months4 months-5.22%
6Jul 2010Jul 20101 monthAug 20101 month2 months-5.09%
7May 2011Jun 20112 monthsJul 20111 month3 months-4.18%

Portfolio Assets

Performance statistics for portfolio components
TickerNameCAGRStdevBest YearWorst YearMax DrawdownSharpe RatioSortino RatioMarket Correlation
DFUSXDFA US Large Company I8.49%15.05%32.33%-36.76%-48.19%0.600.861.00
DFLVXDFA US Large Cap Value I8.73%19.15%40.32%-40.80%-55.35%0.520.740.98
DFSCXDFA US Micro Cap I9.36%20.49%45.06%-36.72%-51.57%0.520.780.91
DFSVXDFA US Small Cap Value I8.80%22.04%42.38%-36.79%-52.70%0.480.710.92
DFREXDFA Real Estate Securities I7.59%25.00%31.11%-37.36%-62.49%0.410.580.75
DFIVXDFA International Value I1.64%21.50%39.45%-46.33%-59.41%
DFISXDFA International Small Company I5.64%18.96%41.96%-43.87%-53.01%0.370.520.87
DISVXDFA International Small Cap Value I5.77%20.14%39.51%-41.68%-52.53%0.360.530.87
DFEMXDFA Emerging Markets I2.53%21.88%71.77%-49.20%-56.16%0.210.300.82
DFEVXDFA Emerging Markets Value I1.40%25.73%92.28%-53.94%-61.66%
DEMSXDFA Emerging Markets Small Cap I4.71%24.27%99.74%-54.53%-60.61%0.300.430.79
GLDSPDR Gold Shares4.13%19.00%29.27%-28.33%-42.91%0.290.440.03

Portfolio Asset Performance

Performance of portfolio assets
NameTotal ReturnAnnualized ReturnExpense Ratio
3 MonthYear To Date1 year3 year5 year10 yearNetGross
DFA US Large Company I6.61%21.73%21.73%11.36%15.72%8.49%0.08%0.09%
DFA US Large Cap Value I7.47%18.97%18.97%10.93%16.09%8.73%0.22%0.32%
DFA US Micro Cap I2.70%11.18%11.18%10.42%14.98%9.36%0.41%0.41%
DFA US Small Cap Value I3.13%7.21%7.21%8.23%13.31%8.80%0.30%0.30%
DFA Real Estate Securities I2.06%5.71%5.71%5.76%9.47%7.59%0.18%0.20%
DFA International Value I5.43%26.09%26.09%8.59%7.96%1.64%0.29%0.49%
DFA International Small Company I4.61%30.24%30.24%13.43%11.75%5.64%0.39%0.39%
DFA International Small Cap Value I3.83%27.98%27.98%12.86%12.57%5.77%0.42%0.42%
DFA Emerging Markets I7.22%36.57%36.57%8.83%4.18%2.53%0.36%0.46%
DFA Emerging Markets Value I7.91%33.76%33.76%9.20%3.67%1.40%0.45%0.55%
DFA Emerging Markets Small Cap I8.58%35.26%35.26%11.06%6.83%4.71%0.60%0.80%
SPDR Gold Shares1.70%12.81%12.81%2.87%-5.26%4.13%0.40%0.40%
Trailing returns as of last calendar month ending December 2017

Monthly Correlations

Correlations for the portfolio assets
DFUSXDFA US Large Company I1.000.970.890.900.740.890.860.860.820.800.790.020.970.02
DFLVXDFA US Large Cap Value I0.971.000.920.940.760.900.860.880.810.800.780.020.980.02
DFSCXDFA US Micro Cap I0.890.921.000.990.730.790.770.790.720.700.69-0.040.92-0.04
DFSVXDFA US Small Cap Value I0.900.940.991.000.740.810.780.800.720.710.69-0.010.94-0.01
DFREXDFA Real Estate Securities I0.740.760.730.741.000.700.660.670.660.640.660.090.810.09
DFIVXDFA International Value I0.890.900.790.810.701.000.950.960.890.890.870.110.940.11
DFISXDFA International Small Company I0.860.860.770.780.660.951.000.990.900.900.900.200.910.20
DISVXDFA International Small Cap Value I0.860.880.790.800.670.960.991.000.880.880.870.150.920.15
DFEMXDFA Emerging Markets I0.820.810.720.720.660.890.900.881.000.990.970.270.880.27
DFEVXDFA Emerging Markets Value I0.800.800.700.710.640.890.900.880.991.000.980.280.870.28
DEMSXDFA Emerging Markets Small Cap I0.790.780.690.690.660.870.900.870.970.981.000.280.860.28
GLDSPDR Gold Shares0.020.02-0.04-

Portfolio Return Decomposition

Portfolio return decomposition
TickerNamePortfolio 1Portfolio 2
DFUSXDFA US Large Company I$139,975
DFLVXDFA US Large Cap Value I$146,764
DFSCXDFA US Micro Cap I$76,666
DFSVXDFA US Small Cap Value I$71,421
DFREXDFA Real Estate Securities I$62,621
DFIVXDFA International Value I$17,453
DFISXDFA International Small Company I$25,195
DISVXDFA International Small Cap Value I$25,447
DFEMXDFA Emerging Markets I$8,990
DFEVXDFA Emerging Markets Value I$8,510
DEMSXDFA Emerging Markets Small Cap I$22,128
GLDSPDR Gold Shares$470,610
Return attribution decomposes portfolio gains into its constituent parts and identifies the contribution to returns by each of the assets.

Portfolio Risk Decomposition

Portfolio risk decomposition
TickerNamePortfolio 1Portfolio 2
DFUSXDFA US Large Company I15.70%
DFLVXDFA US Large Cap Value I20.21%
DFSCXDFA US Micro Cap I10.21%
DFSVXDFA US Small Cap Value I11.12%
DFREXDFA Real Estate Securities I10.97%
DFIVXDFA International Value I10.90%
DFISXDFA International Small Company I4.67%
DISVXDFA International Small Cap Value I5.00%
DFEMXDFA Emerging Markets I3.11%
DFEVXDFA Emerging Markets Value I3.62%
DEMSXDFA Emerging Markets Small Cap I4.49%
GLDSPDR Gold Shares100.00%
Risk attribution decomposes portfolio risk into its constituent parts and identifies the contribution to overall volatility by each of the assets.

Annual Asset Returns

Rolling returns summary
Roll PeriodPortfolio 1Portfolio 2
1 year11.23%76.14%-50.39%5.14%45.58%-28.33%
3 years11.47%31.14%-0.33%3.13%32.87%-15.02%
5 years12.21%25.78%2.11%0.53%14.46%-8.06%
7 years11.37%17.17%6.24%2.29%6.28%-1.63%