Fund Performance—Calendar Year

Month-end | Quarter-end | Calendar Year

Performance, net of fees (as of 12/31/2017)1,2

Fund 201720162015201420132012201120102009
Extended Term Fixed Income Fund (3) 7.62% 5.44% -1.75% N/A N/A N/A N/A N/A N/A
ETFIF Benchmark 10.71% 6.67% -2.50% N/A N/A N/A N/A N/A N/A
Fixed Income Fund (4) 6.57% 5.74% -1.97% 4.30% -0.73% 9.58% 6.13% 8.71% 16.38%
FIF Benchmark 4.59% 4.62% 0.10% 5.40% -1.32% 6.61% 7.86% 7.99% 9.94%
Inflation Protection Fund (5) 4.42% 7.70% -4.99% 2.63% -6.59% 7.74% 8.60% 8.99% 14.09%
IPF Benchmark 4.12% 10.73% -1.72% 4.43% -9.26% 7.26% 13.98% 6.33% 10.49%
International Equity Fund (6) 30.56% 6.02% -6.46% -5.92% 16.51% 19.67% -15.85% 16.35% 50.48%
IEF Benchmark 27.81% 4.41% -4.60% -3.89% 15.82% 17.04% -14.31% 12.73% 43.60%
Multiple Asset Fund (7) 17.98% 8.41% -2.56% 4.10% 17.08% 13.76% -1.01% 14.60% 25.80%
MAF Benchmark 16.95% 8.58% -0.90% 5.76% 15.99% 13.35% 0.96% 13.32% 25.09%
Short Term Investment Fund (8) 0.90% 0.46% 0.03% 0.09% 0.21% 0.72% -0.05% 0.17% 0.77%
STIF Benchmark 0.86% 0.33% 0.05% 0.03% 0.07% 0.11% 0.10% 0.13% 0.21%
Social Values Choice Bond Fund (9) 1.41% N/A N/A N/A N/A N/A N/A N/A N/A
SVCBF Benchmark 1.52% N/A N/A N/A N/A N/A N/A N/A N/A
Social Values Choice Equity Fund (10) 21.53% 6.97% -1.13% N/A N/A N/A N/A N/A N/A
SVCEF Benchmark 21.60% 7.19% -0.11% N/A N/A N/A N/A N/A N/A
U.S. Equity Fund (11) 19.92% 11.53% 0.08% 10.76% 34.29% 15.05% -0.73% 18.09% 23.66%
USEF Benchmark 21.13% 12.74% 0.48% 12.56% 33.55% 16.42% 1.03% 16.93% 28.34%
U.S. Equity Index Fund (12) 20.34% 12.35% -0.16% N/A N/A N/A N/A N/A N/A
USEIF Benchmark 21.13% 12.74% 0.48% N/A N/A N/A N/A N/A N/A
U.S. Treasury Inflation Protection Fund (13) 2.31% N/A N/A N/A N/A N/A N/A N/A N/A
USTPF Benchmark 2.33% N/A N/A N/A N/A N/A N/A N/A N/A
 

Total Market Value (as of 9/30/18) of all funds managed by Wespath: $23,610,788,215

The inception dates are as follows: Social Values Choice Bond Fund—6/30/2017; U.S. Treasury Inflation Protection Fund—6/30/2017; Extended Term Fixed Income Fund—5/29/2015; Social Values Choice Equity Fund—12/31/2014, U.S. Equity Index Fund—12/31/2014; Multiple Asset Fund—4/30/2002, Short Term Investment Fund—4/30/2002 and Inflation Protection Fund—01/05/2004; for all others the inception date is 12/31/1997.

1 The posted rate of return is for the periods ending on the specified date.

2 Rates of return reflect past performance and are no guarantee of comparable future results. The prices of Wespath investment funds will rise and fall with the value of the investments held in the funds. The units a participant owns may be worth more or less than their purchase price when redeemed. Investment results shown here are after all investment, administrative and custodial expenses.

3 The performance benchmark for ETFIF is the Bloomberg Barclays U.S. Long Government/Credit Bond Index.

4 On August 24, 2016, Bloomberg purchased Barclays Risk Analytics and Index Solutions Ltd. Thus, the performance benchmark for FIF became Bloomberg Barclays U.S. Universal Index (excluding mortgage backed securities). On September 20, 2008, Barclays Capital bought Lehman Brothers’ North American investment banking, capital markets and private investments management businesses, thus the performance Benchmark for FIF became the Barclays U.S. Universal Index (excluding mortgage-backed securities). From January 1, 2006 to September 19, 2008, the Benchmark was the Lehman U.S. Universal Index (excluding mortgage-backed securities). From January 1, 2003, through December 31, 2005 the Benchmark was the Lehman U.S. Aggregate Bond Index. Prior to January 1, 2003, the Benchmark had been the Lehman Intermediate Aggregate Bond Index.

5 On January 1, 2016, the benchmark for the Inflation Protection Fund became 80% Barclays World Government Inflation Linked Bond Index (Hedged), 10% Barclays Emerging Market Tradeable Inflation Linked Bond Index (Unhedged) and 10% Bloomberg Commodity Index. From January 1, 2006 to December 31, 2015, the benchmark was the Barclays Capital U.S. Government Inflation Linked Bond (Series B) Index. From April 1, 2005 to December 31, 2005, the benchmark was a blended index based on the following weightings: Barclays Capital U.S. Government Inflation-Linked Bond Index (50%) and Barclays Capital Global Inflation-Linked Bond Index (50%). Prior to April 1, 2005, the benchmark was the Barclays Capital U.S. Government Inflation-Linked Bond Index.

6 On January 1, 2008, the benchmark for the International Equity Fund became the MSCI All Country World Index (ACWI) ex USA Investable Market Index (IMI). From January 1, 2006 through 2007, the benchmark was the MSCI ACWI ex USA Index. Prior to 2006, the benchmark was the MSCI EAFE Index.

7 On January 1, 2017, the benchmark for the Multiple Asset Fund (MAF) became 35% Russell 3000 Index, 30% MSCI All Country World Index (ACWI) ex-USA Investable Market Index (IMI), 25% Bloomberg Barclays U.S. Universal Index ex-Mortgage Backed Securities (MBS) and 10% Inflation Protection Fund (IPF) Custom Benchmark. The IPF Custom Benchmark consists of 80% Bloomberg Barclays World Government Inflation Linked Bond Index (Hedged), 10% Bloomberg Barclays Emerging Market Tradeable Inflation Linked Bond Index (Unhedged) and 10% Bloomberg Commodity Index. From January 1, 2016 to December 31, 2016, the benchmark for MAF was 40% Russell 3000 Index, 25% MSCI ACWI ex-USA IMI, 25% Bloomberg Barclays U.S. Universal Index ex-MBS, and 10% IPF Custom Benchmark. From January 1, 2014 to December 31, 2015, the benchmark for MAF was 40% Russell 3000 Index, 25% MSCI ACWI ex-USA IMI, 25% Bloomberg U.S. Universal Index ex-MBS, and 10% Bloomberg Barclays U.S. Government Inflation Linked Bond Index. From January 1, 2006 to December 31, 2013, the benchmark for MAF was 45% Russell 3000 Index, 20% MSCI ACWI ex-USA IMI, 25% Bloomberg Barclays U.S. Universal Index MBS and 10% Bloomberg Barclays U.S. Government Inflation Linked Bond Index. Prior to January 1, 2006, the benchmark for MAF was 47% Russell 3000 Index, 15% MSCI EAFE Index, 3% MSCI Emerging Markets Index and 35% Lehman Brothers U.S. Universal Index.

8 The performance presented in the table above provides the actual returns generated by STIF from the date of its inception, and it includes the performance of Wespath's investments managed with the same strategy prior to the introduction of STIF. At any given time, Wespath invests between $400 and $700 Million in a short term investment strategy. This amount includes all direct investments in the strategy (primarily residual cash) and the assets of the Short Term Investment Fund. The performance benchmark for STIF is the BofA Merrill Lynch 3-Month Treasury Bill Index.

9 The performance benchmark for SVCBF is the Bloomberg Barclays U.S. Universal Ex MBS Index.

10 On April 7, 2018, the name of the Equity Social Values Plus Fund (ESVPF) changed to the Social Values Choice Equity Fund (SVCEF), to align with the naming convention adopted for the “Social Values Choice” suite of funds. On April 1, 2017, the benchmark for SVCEF became the MSCI World Environmental, Social and Governance (ESG) ex Fossil Fuels Index. Prior to April 1, 2017, the benchmark was the MSCI World Custom Environmental, Social, and Governance (ESG) Special Weighted Index.

11 The performance benchmark for USEF is the Russell 3000 Index.

12 The performance benchmark for USEIF is the Russell 3000 Index.

13 The performance benchmark for USTPF is the Bloomberg Barclays U.S. Inflation Linked Bond Index.

This report was produced using data from sources deemed to be reliable. The information herein is provided without representation or warranty.

Wespath investment funds are neither insured nor guaranteed by the government.

 
 
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