Year

Q1

Q2

Q3

Q4

Annual

SP500

Excess Return

2000

22.55%

4.85%

7.58%

8.00%

42.98%

−9.32%

52.30%

2001

−3.72%

11.52%

−5.82%

−6.86%

−4.88%

−12.07%

7.19%

2002

22.13%

−1.81%

8.41%

−6.79%

21.94%

−24.35%

46.29%

2003

−0.43%

2.12%

26.63%

17.14%

45.46%

24.22%

21.24%

2004

6.12%

0.54%

0.79%

3.39%

10.83%

8.88%

1.95%

2005

5.00%

4.45%

1.94%

3.02%

14.41%

3.24%

11.17%

2006

8.73%

0.99%

−2.12%

2.99%

10.60%

12.98%

−2.38%

2007

6.77%

4.45%

−1.43%

5.32%

15.01%

3.90%

11.11%

2008

2.99%

2.99%

−2.97%

4.39%

7.39%

−45.45%

52.84%

2009

10.32%

−9.44%

14.46%

9.60%

24.93%

23.58%

1.35%

2010

8.38%

−7.04%

−2.57%

4.36%

3.13%

13.80%

−10.67%

2011

11.13%

1.87%

−12.02%

−3.72%

−2.76%

1.15%

−3.91%

2012

23.32%

−5.11%

−11.99%

1.32%

7.54%

13.16%

−6.62%

2013

13.39%

3.06%

3.09%

8.55%

28.09%

26.54%

1.55%

2014

2.51%

3.35%

−3.64%

−5.27%

−3.04%

11.14%

−14.18%

2015

4.66%

1.56%

3.60%

−1.50%

8.31%

0.11%

8.20%

2016

1.97%

−2.96%

6.64%

6.90%

12.55%

9.62%

2.39%

2017

4.70%

2.97%

−2.37%

4.40%

9.70%

17.96%

−8.26%

2018

4.27%

1.77%

−0.08%

5.77%

11.70%

−5.32%

17.02%