|Period Ending 10/31/17 ||Merryfield ||Benchmark|
|Trailing One Year ||18.92%||14.09%|
|Trailing Three Years, annualized ||4.33%||7.60%|
|Trailing Five Years, annualized||9.74%||9.97%|
|Since Inception of 12/31/08 ||10.53%||10.88%|
The Merryfield composite includes all discretionary, fee-paying portfolios with a market value greater than $100,000 and a risk tolerance above average and represents 93% of the total, fee-paying assets under management. The asset allocation of the composite as of 10/31/17 was 78% equities, 7% fixed income, 8% real estate investment trusts and 7% cash. The performance results are presented Net of Fees (after management fees and transaction charges have been deducted) and represent a time-weighted and asset-weighted compound rate of return. The benchmark return is a blended return comprised of 60% of the S&P 500 Index, Total Return, and 40% of the iShares Barclays Aggregate Bond Index (ticker symbol: AGG) with daily re-balancing and no transaction charges.
Past performance may not be indicative of future performance. Other composites are available upon request.