<< RAFI Fundamental Index Series

RAFIUST

RAFI Fundamental U.S. Index

DATA AS OF: 2018-03-31  ASSET CLASS: Equity

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Commentary

The RAFI Fundamental US Index underperformed the Russell 1000 Index by 154 bps as value stocks struggled during the quarter (-2.8% R1000V vs. -0.7% R1000). Stock selection in consumer cyclical stocks, financials, and an underweight to technology stocks were the largest detractors to the portfolio. Underweights to Amazon and Netflix in the consumer cyclical sector accounted for more than half of the 60 bp detraction in the sector.

Trailing Returns

SOURCE: FactSet | Data: As of 03/31/2018 in USD  |  INCEPTION DATE: 01/31/2017

* Inception to Date (ITD) uses the first full month of returns after inception date. All returns prior to inception are simulated, please see disclosures for important information regarding simulated performance.

** Annualized tracking error calculated against each section’s appropriate benchmark using the first full month of returns following index inception. Index returns prior to inception are simulated.

Characteristics

SOURCE: FactSet | Data: As of 03/31/2018 in USD  |  INCEPTION DATE: 01/31/2017

NOTE: Portfolio characteristics derived from FactSet. Data prior to launch is simulated. One-way turnover data is historical average based on simulated history. Capacity is estimated at 50 basis point market impact level.

Top 10 Holdings

SOURCE: FactSet  |  DATA: As of 03/31/2018 in USD

Sectors

SOURCE: FactSet  |  DATA: As of 03/31/2018 in USD

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