Page 18 - DCAC November 2023 Files

Following a Prudent Due Diligence Process

Understanding Investment Performance

• Benchmarks and Peer Groups

– Benchmark Index Performance is the investment performance of an unmanaged group of securities
(stocks or bonds) that make up an index. There are many indexes for different types of stock and bond

mutual funds (e.g. S&P 500, Domestic Large-Cap Value, EAFE, etc.)

– Peer Group Performance is the performance of a group of funds with similar investment objectives

(i.e. Domestic Large-Cap Value, Domestic Small-Cap Growth, Developed Foreign Core/Blend, etc.). The

performance of each fund is measured against the performance of its appropriate peer group and the

percentile ranking of the fund indicates how it compares to its peers. The median performance of the
th
peer group is the 50 percentile. Lower numbers indicate superior performance for a specific
th
timeframe. The 10 percentile indicates the fund outperformed 90% of its peers for that specific
timeframe.

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