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Global Equity Market Returns

as of 3/31/18

1Q 2018 MSCI Indexes

-1.53 MSCI E AF E Index

-1.28 MSCI World In dex

-2.04 MSCI World In dex ex . U.S.

-0.96 MSCI All Country World Index

1.42 MSCI E mergin g Ma rkets Ind ex

-3.58 MSCI G ermany

0. 83 MSCI J apan

1.82 MSCI China

Q TD

Source: Morningstar Direct, 3/31/2018. The MSCI All Country World Index (ACWI) i
measure the equity market performance of developed and emerging markets. T
that is designed to measure equity market performance of frontier markets. The M
emerging markets. The MSCI EAFE Index (Europe, Australasia, Far East) is designed
U.S. and Canada. The MSCI World Index ex U.S. is a free float-adjusted market ca
performance of developed markets and excludes the U.S. The MSCI World Index
markets. Each index is unmanaged, includes the reinvestment of dividends and c
illustrative purposes only and does not predict or depict the performance of any