This example assumes that dividend and interest income is withdrawn each year. The change in principal value of each investment reflects capital appreciation only. For illustrative purposes only and does not represent any specific portfolio or any particular investment. The information provided is based on a hypothetical $100,000 investment in the indexes shown as of 01/01/2000. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Dividends are not guaranteed and may be increased, decreased, or suspended altogether at the discretion of the issuing company. Past performance is not a reliable indicator or guarantee of future results. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. Index returns do not reflect the deductions of fees, trading costs or other expenses. The Index is referred to for informational purposes only: the composition of each Index is different from the composition of the accounts managed by the investment manager. Investors may not make direct investments into any index. Past performance may not be indicative of future results.