Notes on results:

• All results are hypothetical
• Past performance is not a guarantee of future returns and data and other errors may exist.
• The entered time period is automatically adjusted based on the available return data for the specified assets
• CAGR = Compound Annual Growth Rate
• Stdev = Annualised standard deviation of monthly returns
• Sharpe and Sortino ratios are calculated and annualised from monthly excess returns over risk free rate (1-month t-bills)
• Stock market correlation is based on the correlation of monthly returns
• Drawdowns are calculated based on monthly returns
• The results use total return and assume that all dividends and distributions are reinvested. Taxes and transaction fees are not included

IMPORTANT:

The calculations and any other information generated by this tool are provided by Silicon Cloud Technologies, LLC based on the back-testing functionality of their Portfolio Visualizer software. Note that the resulting performance of various investment outcomes are hypothetical in nature, may not reflect actual investment results and are not guarantees of future results. World Gold Council and its affiliates and subsidiaries provide no warranty or guarantee regarding the functionality of msgid the tool including without limitation any projections, estimates or calculations. For more information on the data used for each asset class, please visit our FAQs

* The investment horizon for the hypothetical analysis starts at the end of the month selected in the “from” date and ends at the end of the month selected in the “to” date. Quarterly, semi-annually and annually rebalancing as well as periodical adjustments, if any, happen on a calendar basis (eg, March, June, September, and December where applicable) regardless of the starting investment period. For more information, please visit our FAQ