| 
Cumulative annual performance
(3)
(net of fees) 01/01/78 - 03/31/10
Since
inception, Reaves’ cumulative return has outperformed
the
S&P 500 Index and the other indexes shown.
Base
Year = 100 Russell 1000 Value Index inception date is 1/1/79.
See endnotes for important disclosures
and index definitions including
ERISA comparisons.
Annualized
rates of return (%)
(3)
as of 03/31/10
|
| |
YTD |
1
Yr |
3
Yrs |
5
Yrs |
10
Yrs |
20
Yrs |
32.25
Yrs |
 |
| Reaves
(gross of fees) |
-0.90 |
34.86 |
-2.69 |
5.96 |
6.82 |
10.31 |
14.35 |
|
| Reaves
(net of fees) |
-1.03 |
34.17 |
-3.20 |
5.42 |
6.28 |
9.74 |
13.55 |
|
| S&P
Utilities Index |
-3.54 |
21.01 |
-5.74 |
4.18 |
3.86 |
7.34 |
11.07 |
|
| S&P
500 Index |
5.39 |
49.77 |
-4.17 |
1.92 |
-0.65 |
8.66 |
11.40 |
|
|
See
endnotes for important disclosures
and index definitions including ERISA comparisons. |
| |
| |
| |
| |
|
