Equity Investment Corporation

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Performance

Performance should be considered in the context of portfolio risk.  A hallmark of our approach has been our below-market risk, whether measured as incidence of experiencing a 12-month loss, number of double-digit 12-month losses, standard deviation, or odds of meeting return targets in 5-year periods. These risk measures are particularly relevant to investors seeking peace of mind, or whose investments are needed to support spending or budget requirements.



All-Cap
SMA
(Gross*)
All-Cap
SMA
(Net 3%)
Russell
3000® Value Index
S&P
500®
Index
Return Since Inception** (annualized) 11.9% 8.6% 10.6% 10.8%  
Incidence of Loss (Rolling 12 Months) 12.8% 18.6% 21.5% 18.3%  
No. of 12-Month Double-Digit Losses 15 22 30 42  
Rolling 12-Month Standard Deviation 12.5% 12.2% 15.6% 16.3%  
% Rolling 5-Year Periods Below 8% 17% 47% 33% 37%  

* EIC results are those of its All-Cap Value SMA Composite. Gross returns for the composite are “pure” gross returns and do not reflect the deduction of any expenses, including trading costs, and are presented as supplemental information to a full disclosure presentation, which can be found in the All-Cap Performance section of this website. Net returns are calculated by reducing pure gross returns with an annual SMA fee of 3.0%, applied monthly. All returns include the reinvestment of dividends and interest. Indices are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. Past performance is not indicative of future results.

**All returns are since inception (January 1, 1986) through September 30, 2018. Rolling numbers were calculated by linking monthly returns for 12- and 60-month periods. Incidence of loss was calculated by linking monthly returns for every 12-month period. Number of occurrences of 12-month losses divided by number of periods equals the incidence of loss. Double-digit losses were the number of 12-month periods in which the return was less than -10%.  Standard deviation was calculated by linking monthly returns for every 12-month period.  % Rolling 5-Year Periods Below 8% were the percentage of 60-month periods in which the annualized return was less than 8%.