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Part
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Part
III. |
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Part
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Index |
Bloomberg Ticker Symbol |
|||
S&P
500 VIX Short-Term Futures Index |
SPVXSP | |||
S&P
500 VIX
Mid-Term Futures
Index |
SPVXMPID |
Underlying
Benchmark |
Create/Redeem Cutoff* |
NAV Calculation Time | ||
Silver |
1:00 p.m. (Eastern Time) | 1:25 p.m. (Eastern Time) | ||
Gold |
1:00 p.m. (Eastern Time) | 1:30 p.m. (Eastern Time) | ||
S&P
500 VIX Short-Term Futures Index** |
2:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) | ||
S&P
500 VIX
Mid-Term Futures
Index** |
2:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) | ||
Bloomberg
Commodity Balanced WTI Crude Oil Index
SM |
2:00 p.m. (Eastern Time) | 2:30 p.m. (Eastern Time) | ||
Bloomberg
Natural Gas Subindex
SM |
2:00 p.m. (Eastern Time) | 2:30 p.m. (Eastern Time) | ||
Australian
dollar |
3:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) | ||
Euro |
3:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) | ||
Yen |
3:00 p.m. (Eastern Time) | 4:00 p.m. (Eastern Time) |
* |
Although
the Funds’ shares may continue to trade on secondary markets subsequent to
the calculation of the final NAV, these times represent the final
opportunity to transact in creation or redemption units for the year ended
December 31, 2021. |
** |
Effective
Monday, October 26, 2020, the Chicago Futures Exchange (a subsidiary
of the Chicago Board Options Exchange) changed the settlement time for the
VIX futures contracts in which the Funds invest from 4:15 p.m. (Eastern
Time) to 4:00 p.m. (Eastern Time). Please see Note 8 of the Notes to
Financial Statements of this Form
10-K for
more information. |
• |
it
determines that the purchase order is not in proper form;
|
• |
the
Sponsor believes that the purchase order would have adverse tax
consequences to a Fund or its shareholders;
|
• |
the
order would be illegal; or |
• |
circumstances
outside the control of the Sponsor make it, for all practical purposes,
not feasible to process creations of Creation Units.
|
Fund |
NAV Calculation Time | |
ProShares
UltraShort Silver* and ProShares Ultra Silver |
1:25 p.m. (Eastern Time) | |
ProShares
UltraShort Gold* and ProShares Ultra Gold |
1:30 p.m. (Eastern Time) | |
ProShares
UltraShort Bloomberg Crude Oil and ProShares Ultra Bloomberg Crude
Oil |
2:30 p.m. (Eastern Time) | |
ProShares
UltraShort Bloomberg Natural Gas and ProShares Ultra Bloomberg Natural
Gas |
2:30 p.m. (Eastern Time) | |
ProShares
Short Euro, ProShares UltraShort Euro and ProShares Ultra
Euro |
4:00 p.m. (Eastern Time) |
ProShares
UltraShort Australian Dollar |
4:00 p.m. (Eastern Time) | |
ProShares
UltraShort Yen and ProShares Ultra Yen |
4:00 p.m. (Eastern Time) | |
ProShares
VIX Short-Term Futures ETF*, ProShares Ultra VIX Short-Term Futures ETF*
and |
||
ProShares
Short VIX Short-Term Futures ETF* |
4:00 p.m. (Eastern Time) | |
ProShares
VIX
Mid-Term Futures
ETF* |
4:00 p.m. (Eastern Time) |
* |
Effective
Monday, October 26, 2020, the Chicago Futures Exchange (a subsidiary
of the Chicago Board Options Exchange) changed the settlement time for the
VIX futures contracts in which the Funds invest from 4:15 p.m. (Eastern
Time) to 4:00 p.m. (Eastern Time). Please see Note 8 of the Notes to the
Financial Statements of this Form
10-K for
more information. |
• |
initial
SEC registration fees and SEC and FINRA filing fees;
|
• |
costs
of preparing, printing (including typesetting), amending, supplementing,
mailing and distributing the Trust’s Registration Statements, the exhibits
thereto and the related prospectuses; |
• |
the
costs of qualifying, printing (including typesetting), amending,
supplementing and mailing sales materials used in connection with the
offering and issuance of the Shares; and |
• |
accounting,
auditing and legal fees (including disbursements related thereto) incurred
in connection therewith. |
• |
Due
to the compounding of daily returns, the Geared Funds’ returns over
periods longer than a single day will likely differ in amount and possibly
even direction from the Geared Fund multiple times the benchmark return
for the period. |
• |
Correlation
risks specific to the Geared Funds may arise because the Geared Funds seek
to rebalance their portfolios daily to keep daily exposure consistent with
their investment objectives to achieve a high degree of daily correlation
with their applicable underlying benchmarks.
|
• |
The
use of leveraged, inverse and/or inverse leveraged positions could result
in the total loss of an investor’s investment within a single day.
|
• |
A
number of factors may have a negative impact on the price of commodities,
such as oil, gold, silver and gas, and the price of Financial Instruments
based on such commodities. |
• |
Intraday
price/performance of Geared Funds will likely differ from the Fund’s
stated daily multiple times the performance of its Benchmark for such day.
|
• |
The
Currency Funds are subject to a number of risks impacting the value of
non-U.S. currencies
and the value of Financial Instruments based on such currencies. For
example, European financial markets and the value of the euro have
experienced significant volatility, in part related to unemployment,
budget deficits and economic downturns. In addition, the euro could be
abandoned in the future by countries that have already adopted its use.
|
• |
The
Precious Metals Funds do not hold gold or silver bullion. Rather, the
Precious Metals Funds use Financial Instruments to gain exposure to gold
and silver bullion. Using Financial Instruments to obtain exposure to gold
or silver bullion may cause tracking error and subject the Precious Metals
Funds to the effects of contango and backwardation.
|
• |
The
Natural Gas Funds are linked to an index comprised of natural gas futures
contracts, and are not directly linked to the “spot” price of natural gas.
Natural Gas futures contracts may perform very differently from the spot
price of natural gas. |
• |
The
Oil Funds are linked to an index comprised of crude oil futures contracts,
and are not directly linked to the “spot” price of crude oil. Oil futures
contracts may perform very differently from the spot price of crude oil.
|
• |
In
April 2020, the market for crude oil futures contracts experienced a
period of “extraordinary contango” (the spot price for a commodity is
significantly lower than the price of the futures contract in that
commodity) that resulted in a negative price in the May 2020 WTI crude oil
futures contract. If all or a significant portion of the futures contracts
held by the Oil Funds at a future date were to reach a negative price,
investors in any such Fund could lose their entire investment.
|
• |
The
VIX Funds are benchmarked to a VIX Futures Index. They are not benchmarked
to the VIX or actual realized volatility of the S&P 500.
|
• |
VIX
futures contracts can be highly volatile and the Funds may experience
sudden and large losses when buying, selling or holding such instruments.
|
• |
The
level of the VIX has historically reverted to a long-term mean level and
is subject to sudden and unexpected reversions to its mean. Accordingly,
investors should not expect the VIX Funds to retain any appreciation in
value over extended periods of time. |
• |
There
is no guarantee that a Fund will achieve its investment objective or that
the returns of a Fund will correlate to the returns of its index times its
stated multiple. There may be circumstances that could prevent a Fund from
being operated in a manner consistent with its investment objective and
principal investment strategies. |
• |
The
assets that the Funds invest in can be highly volatile and the Funds may
experience large losses when buying, selling or holding such instruments;
you can lose of your investment within a single day. Each Fund seeks to
achieve its investment objective even during periods when the performance
of the Fund’s benchmark is flat of when the benchmark is moving in a
manner that may cause the value of the Fund to decline.
|
• |
The
value of the Shares of the Funds relates directly to the value of, and
realized profit or loss from, the Financial Instruments and other assets
held by that Fund. Fluctuations in the price of these Financial
Instruments or assets could materially adversely affect an investment in
such Fund’s Shares. |
• |
Margin
requirements and position limits applicable to futures contracts and swaps
may limit a Fund’s ability to achieve sufficient exposure and prevent a
Fund from achieving its investment objective.
|
• |
Possible
illiquid markets may cause or exacerbate losses; the large size of the
positions the Funds may acquire increases these risks.
|
• |
The
Funds may be subject to significant and sustained losses from rolling
futures positions. |
• |
It
may not be possible to gain exposure to the benchmarks using
exchange-traded Financial Instruments in the future.
|
• |
Fees
are charged regardless of a Fund’s returns and may result in depletion of
assets. |
• |
For
the Funds linked to a benchmark, changes implemented by the benchmark
provider that affect the composition and valuation of the benchmark could
adversely affect the value of Fund Shares and an investment in a Fund
Shares. |
• |
The
particular benchmark used by a Fund may underperform other asset classes
and may underperform other indices or benchmarks based upon the same
underlying Reference Asset. |
• |
The
Funds may be subject to counterparty risks.
|
• |
Historical
correlation trends between Fund benchmarks and other asset classes may not
continue or may reverse, limiting or eliminating any potential
diversification or other benefit from owning a Fund.
|
• |
The
lack of active trading markets for any of the Shares of the Funds may
result in losses on investors’ investments at the time of disposition of
such Shares. |
• |
A
Fund may change its investment objective, benchmark or strategies and may
liquidate at a time that is disadvantageous to shareholders.
|
• |
Investors
may be adversely affected by redemption or creation orders that are
subject to postponement, suspension or rejection under certain
circumstances. |
• |
The
NAV per Share may not correspond to the market price per Share.
|
• |
Investors
may be adversely affected by an overstatement or understatement of a
Fund’s NAV due to the valuation method employed or errors in the NAV
calculation. |
• |
Purchases
of a Fund’s creation units may be suspended if the Fund issues all of its
currently remaining registered shares – this may have a negative impact on
the trading price and liquidity of Fund shares
|
• |
Regulatory
and exchange position limits or accountability levels may restrict the
creation of Creation Units and have a negative impact on operation of the
Trust. |
• |
The
number of underlying components included in a Fund’s benchmark may impact
volatility, which could adversely affect an investment in the Shares.
|
• |
The
liquidity of the Shares may also be affected by the withdrawal from
participation of Authorized Participants, which could adversely affect the
market price of the Shares. |
• |
Shareholders
that are not Authorized Participants may only purchase or sell their
Shares in secondary trading markets, and the conditions associated with
trading in secondary markets may adversely affect investors’ investment in
the Shares. |
• |
The
applicable Exchange may halt trading in the Shares of a Fund which would
adversely impact investors’ ability to sell Shares.
|
• |
Shareholders
do not have the protections associated with ownership of shares in an
investment company registered under the 1940 Act.
|
• |
Shareholders
do not have the rights enjoyed by investors in certain other vehicles and
may be adversely affected by a lack of statutory rights and by limited
voting and distribution rights. |
• |
The
value of the Shares will be adversely affected if the Funds are required
to indemnify Wilmington Trust Company (the “Trustee”) and/or the Sponsor.
|
• |
Although
the Shares of the Funds are limited liability investments, certain
circumstances such as bankruptcy of a Fund will increase a shareholder’s
liability. |
• |
Failure
of the FCMs to segregate assets may increase losses in the Funds.
|
• |
A
court could potentially conclude that the assets and liabilities of one
Fund are not segregated from those of another Fund and may thereby
potentially expose assets in a Fund to the liabilities of another Fund.
|
• |
The
discontinuance of LIBOR could cause or contribute to market volatility and
could affect the market value and/or liquidity of the Funds’ investments.
|
• |
Due
to the increased use of technologies, intentional and unintentional
cyber-attacks pose operational and information security risks.
|
• |
Trading
on exchanges outside the United States is generally not subject to U.S.
regulation and may result in different or diminished investor protections.
|
• |
Competing
claims of intellectual property rights may affect the Funds and an
investment in the Shares. |
• |
Shareholders’
tax liability may exceed cash distributions on the Shares.
|
• |
The
U.S. Internal Revenue Service (“IRS”) could adjust or reallocate items of
income, gain, deduction, loss and credit with respect to the Shares if the
IRS does not accept the assumptions or conventions utilized by the Fund.
|
• |
Shareholders
will receive partner information tax returns on Schedule
K-1, which
could increase the complexity of tax returns. |
• |
Shareholders
of each Fund may recognize significant amounts of ordinary income and
short-term capital gain. |
• |
A
Fund could be treated as a corporation for federal income tax purposes,
which may substantially reduce the value of Shares.
|
• |
Changes
in U.S. federal income tax law could affect an investment in the Shares.
|
• |
The
Funds and the Sponsor are subject to extensive legal and regulatory
requirements. Regulatory changes or actions, including the implementation
of new legislation, may alter the operations and profitability of the
Funds. |
• |
Investors
cannot be assured of the Sponsor’s continued services, the discontinuance
of which may be detrimental to the Funds. |
• |
The term “Matching VIX
Fund” refers to ProShares VIX Short-Term Futures ETF and ProShares VIX
Mid-Term Futures
ETF; |
• |
The term “Geared VIX
Fund” refers to ProShares Ultra VIX Short-Term Futures ETF and ProShares
Short VIX Short-Term Futures ETF; |
• |
The term “VIX Fund”
refers to each Geared VIX Fund and each Matching VIX
Fund; |
• |
The term “Geared Fund”
refers to ProShares UltraShort Bloomberg Crude Oil, ProShares UltraShort
Bloomberg Natural Gas, ProShares UltraShort Gold, ProShares UltraShort
Silver, ProShares Short Euro, ProShares UltraShort Australian Dollar,
ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra
Bloomberg Crude Oil, ProShares Ultra Bloomberg Natural Gas, ProShares
Ultra Gold, ProShares Ultra Silver, ProShares Ultra Euro and ProShares
Ultra Yen, and each Geared VIX Fund; |
• |
The term “Natural Gas
Fund” refers to ProShares UltraShort Bloomberg Natural Gas and ProShares
Ultra Bloomberg Natural Gas ; |
• |
The term “Oil Fund”
refers to ProShares UltraShort Bloomberg Crude Oil and ProShares Ultra
Bloomberg Crude Oil; |
• |
The term “Precious Metal
Fund” refers to ProShares UltraShort Gold, ProShares UltraShort Silver,
ProShares Ultra Gold and ProShares Ultra Silver;
and |
• |
The term “Currency Fund”
refers to ProShares Short Euro, ProShares UltraShort Australian Dollar,
ProShares UltraShort Euro, ProShares UltraShort Yen, ProShares Ultra Euro
and ProShares Ultra Yen. |
Benchmark
XYZ |
Fund XYZ |
|||||||||||||||
Level |
Daily Performance |
Daily Performance |
Net Asset Value |
|||||||||||||
Start |
100.00 | $ | 100.00 | |||||||||||||
Day
1 |
97.00 | -3.00 | % | -6.00 | % | 94.00 | ||||||||||
Day
2 |
99.91 | 3.00 | % | 6.00 | % | 99.64 | ||||||||||
Day
3 |
96.91 | -3.00 | % | -6.00 | % | 93.66 | ||||||||||
Day
4 |
99.82 | 3.00 | % | 6.00 | % | 99.28 | ||||||||||
Day
5 |
96.83 | -3.00 | % | -6.00 | % | 93.32 | ||||||||||
Day
6 |
99.73 | 3.00 | % | 6.00 | % | 98.92 | ||||||||||
Day
7 |
96.74 | -3.00 | % | -6.00 | % | 92.99 | ||||||||||
|
|
|
|
|||||||||||||
Total
Return |
|
-3.26 |
% |
|
-7.01 |
% |
||||||||||
|
|
|
|
Benchmark
XYZ |
Fund XYZ |
|||||||||||||||
Level |
Daily Performance |
Daily Performance |
Net Asset Value |
|||||||||||||
Start |
100.00 | $ | 100.00 | |||||||||||||
Day
1 |
103.00 | 3.00 | % | 6.00 | % | 106.00 | ||||||||||
Day
2 |
99.91 | -3.00 | % | -6.00 | % | 99.64 | ||||||||||
Day
3 |
102.91 | 3.00 | % | 6.00 | % | 105.62 | ||||||||||
Day
4 |
99.82 | -3.00 | % | -6.00 | % | 99.28 | ||||||||||
Day
5 |
102.81 | 3.00 | % | 6.00 | % | 105.24 | ||||||||||
Day
6 |
99.73 | -3.00 | % | -6.00 | % | 98.92 | ||||||||||
Day
7 |
102.72 | 3.00 | % | 6.00 | % | 104.86 | ||||||||||
|
|
|
|
|||||||||||||
Total
Return |
|
2.72 |
% |
|
4.86 |
% |
||||||||||
|
|
|
|
Historical Five-Year Average Volatility Rate As of |
||||||||
Index |
Identifier |
December 31, 2021 |
||||||
S&P
500 VIX Short-Term Futures Index |
SPVXSP | 78.02 | % | |||||
S&P
500 VIX
Mid-Term Futures
Index |
SPVXMPID | 35.69 | % | |||||
Bloomberg
Commodity Balanced WTI Crude Oil Index
SM |
BCBCLI | 35.05 | % | |||||
Bloomberg
Natural Gas Subindex
SM |
BCOMNG | 44.93 | % | |||||
Bloomberg
Gold Subindex
SM |
BCOMGC | 14.40 | % | |||||
Bloomberg
Silver Subindex
SM |
BCOMSI | 28.74 | % | |||||
The
US dollar price of the euro |
USDEUR | 6.54 | % | |||||
The
US dollar price of the Japanese yen |
USDJPY | 7.08 | % | |||||
The
US dollar price of the Australian dollar |
USDAUD | 8.95 | % |
Index Volatility |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One
Year Index Performance |
One-Half the Invers (-0.5x) One Year Index Performance |
0% | 5% | 10% | 15% | 20% | 25% | 30% | 35% | 40% | 45% | 50% | 55% | 60% | 65% | 70% | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||
-60% |
30.0 | % | 58.1 | % | 58.0 | % | 57.5 | % | 56.8 | % | 55.8 | % | 54.5 | % | 52.9 | % | 51.0 | % | 48.9 | % | 46.6 | % | 44.0 | % | 41.2 | % | 38.1 | % | 34.9 | % | 31.6 | % | 28.0 | % | ||||||||||||||||||||||||||||||||||
-55% |
27.5 | % | 49.1 | % | 48.9 | % | 48.5 | % | 47.8 | % | 46.9 | % | 45.6 | % | 44.1 | % | 42.4 | % | 40.4 | % | 38.2 | % | 35.7 | % | 33.1 | % | 30.2 | % | 27.2 | % | 24.0 | % | 20.7 | % | ||||||||||||||||||||||||||||||||||
-50% |
25.0 | % | 41.4 | % | 41.3 | % | 40.9 | % | 40.2 | % | 39.3 | % | 38.1 | % | 36.7 | % | 35.1 | % | 33.2 | % | 31.1 | % | 28.8 | % | 26.3 | % | 23.6 | % | 20.7 | % | 17.7 | % | 14.5 | % | ||||||||||||||||||||||||||||||||||
-45% |
22.5 | % | 34.8 | % | 34.7 | % | 34.3 | % | 33.7 | % | 32.8 | % | 31.7 | % | 30.4 | % | 28.8 | % | 27.0 | % | 25.0 | % | 22.8 | % | 20.4 | % | 17.8 | % | 15.1 | % | 12.2 | % | 9.2 | % | ||||||||||||||||||||||||||||||||||
-40% |
20.0 | % | 29.1 | % | 29.0 | % | 28.6 | % | 28.0 | % | 27.2 | % | 26.1 | % | 24.8 | % | 23.3 | % | 21.6 | % | 19.7 | % | 17.5 | % | 15.3 | % | 12.8 | % | 10.2 | % | 7.4 | % | 4.5 | % | ||||||||||||||||||||||||||||||||||
-35% |
17.5 | % | 24.0 | % | 23.9 | % | 23.6 | % | 23.0 | % | 22.2 | % | 21.2 | % | 19.9 | % | 18.5 | % | 16.8 | % | 15.0 | % | 12.9 | % | 10.7 | % | 8.4 | % | 5.9 | % | 3.2 | % | 0.4 | % | ||||||||||||||||||||||||||||||||||
-30% |
15.0 | % | 19.5 | % | 19.4 | % | 19.1 | % | 18.5 | % | 17.7 | % | 16.8 | % | 15.6 | % | 14.2 | % | 12.6 | % | 10.8 | % | 8.8 | % | 6.7 | % | 4.4 | % | 2.0 | % | -0.5 | % | -3.2 | % | ||||||||||||||||||||||||||||||||||
-25% |
12.5 | % | 15.5 | % | 15.4 | % | 15.0 | % | 14.5 | % | 13.8 | % | 12.8 | % | 11.6 | % | 10.3 | % | 8.7 | % | 7.0 | % | 5.1 | % | 3.1 | % | 0.9 | % | -1.4 | % | -3.9 | % | -6.5 | % | ||||||||||||||||||||||||||||||||||
-20% |
10.0 | % | 11.8 | % | 11.7 | % | 11.4 | % | 10.9 | % | 10.1 | % | 9.2 | % | 8.1 | % | 6.8 | % | 5.3 | % | 3.6 | % | 1.8 | % | -0.2 | % | -2.3 | % | -4.6 | % | -7.0 | % | -9.5 | % | ||||||||||||||||||||||||||||||||||
-15% |
7.5 | % | 8.5 | % | 8.4 | % | 8.1 | % | 7.6 | % | 6.9 | % | 6.0 | % | 4.9 | % | 3.6 | % | 2.1 | % | 0.5 | % | -1.2 | % | -3.2 | % | -5.2 | % | -7.4 | % | -9.7 | % | -12.2 | % | ||||||||||||||||||||||||||||||||||
-10% |
5.0 | % | 5.4 | % | 5.3 | % | 5.0 | % | 4.5 | % | 3.8 | % | 3.0 | % | 1.9 | % | 0.7 | % | -0.7 | % | -2.3 | % | -4.0 | % | -5.9 | % | -7.9 | % | -10.0 | % | -12.3 | % | -14.6 | % | ||||||||||||||||||||||||||||||||||
-5% |
2.5 | % | 2.6 | % | 2.5 | % | 2.2 | % | 1.7 | % | 1.1 | % | 0.2 | % | -0.8 | % | -2.0 | % | -3.4 | % | -4.9 | % | -6.6 | % | -8.4 | % | -10.4 | % | -12.4 | % | -14.6 | % | -16.9 | % | ||||||||||||||||||||||||||||||||||
0% |
0.0 | % | 0.0 | % | -0.1 | % | -0.4 | % | -0.8 | % | -1.5 | % | -2.3 | % | -3.3 | % | -4.5 | % | -5.8 | % | -7.3 | % | -8.9 | % | -10.7 | % | -12.6 | % | -14.7 | % | -16.8 | % | -19.0 | % | ||||||||||||||||||||||||||||||||||
5% |
-2.5 | % | -2.4 | % | -2.5 | % | -2.8 | % | -3.2 | % | -3.9 | % | -4.7 | % | -5.6 | % | -6.8 | % | -8.1 | % | -9.5 | % | -11.1 | % | -12.9 | % | -14.7 | % | -16.7 | % | -18.8 | % | -21.0 | % | ||||||||||||||||||||||||||||||||||
10% |
-5.0 | % | -4.7 | % | -4.7 | % | -5.0 | % | -5.5 | % | -6.1 | % | -6.9 | % | -7.8 | % | -8.9 | % | -10.2 | % | -11.6 | % | -13.2 | % | -14.9 | % | -16.7 | % | -18.6 | % | -20.7 | % | -22.8 | % | ||||||||||||||||||||||||||||||||||
15% |
-7.5 | % | -6.7 | % | -6.8 | % | -7.1 | % | -7.5 | % | -8.1 | % | -8.9 | % | -9.8 | % | -10.9 | % | -12.2 | % | -13.6 | % | -15.1 | % | -16.7 | % | -18.5 | % | -20.4 | % | -22.4 | % | -24.5 | % | ||||||||||||||||||||||||||||||||||
20% |
-10.0 | % | -8.7 | % | -8.8 | % | -9.1 | % | -9.5 | % | -10.1 | % | -10.8 | % | -11.7 | % | -12.8 | % | -14.0 | % | -15.4 | % | -16.9 | % | -18.5 | % | -20.2 | % | -22.1 | % | -24.0 | % | -26.1 | % | ||||||||||||||||||||||||||||||||||
25% |
-12.5 | % | -10.6 | % | -10.6 | % | -10.9 | % | -11.3 | % | -11.9 | % | -12.6 | % | -13.5 | % | -14.6 | % | -15.8 | % | -17.1 | % | -18.6 | % | -20.1 | % | -21.9 | % | -23.7 | % | -25.6 | % | -27.6 | % | ||||||||||||||||||||||||||||||||||
30% |
-15.0 | % | -12.3 | % | -12.4 | % | -12.6 | % | -13.0 | % | -13.6 | % | -14.3 | % | -15.2 | % | -16.2 | % | -17.4 | % | -18.7 | % | -20.1 | % | -21.7 | % | -23.4 | % | -25.1 | % | -27.0 | % | -29.0 | % | ||||||||||||||||||||||||||||||||||
35% |
-17.5 | % | -13.9 | % | -14.0 | % | -14.3 | % | -14.7 | % | -15.2 | % | -15.9 | % | -16.8 | % | -17.8 | % | -18.9 | % | -20.2 | % | -21.6 | % | -23.2 | % | -24.8 | % | -26.5 | % | -28.4 | % | -30.3 | % | ||||||||||||||||||||||||||||||||||
40% |
-20.0 | % | -15.5 | % | -15.6 | % | -15.8 | % | -16.2 | % | -16.7 | % | -17.4 | % | -18.3 | % | -19.3 | % | -20.4 | % | -21.7 | % | -23.0 | % | -24.5 | % | -26.2 | % | -27.9 | % | -29.7 | % | -31.6 | % | ||||||||||||||||||||||||||||||||||
45% |
-22.5 | % | -17.0 | % | -17.0 | % | -17.3 | % | -17.7 | % | -18.2 | % | -18.9 | % | -19.7 | % | -20.7 | % | -21.8 | % | -23.0 | % | -24.4 | % | -25.9 | % | -27.4 | % | -29.1 | % | -30.9 | % | -32.7 | % | ||||||||||||||||||||||||||||||||||
50% |
-25.0 | % | -18.4 | % | -18.4 | % | -18.7 | % | -19.0 | % | -19.6 | % | -20.2 | % | -21.1 | % | -22.0 | % | -23.1 | % | -24.3 | % | -25.7 | % | -27.1 | % | -28.7 | % | -30.3 | % | -32.1 | % | -33.9 | % | ||||||||||||||||||||||||||||||||||
55% |
-27.5 | % | -19.7 | % | -19.8 | % | -20.0 | % | -20.4 | % | -20.9 | % | -21.5 | % | -22.3 | % | -23.3 | % | -24.4 | % | -25.6 | % | -26.9 | % | -28.3 | % | -29.8 | % | -31.4 | % | -33.2 | % | -35.0 | % | ||||||||||||||||||||||||||||||||||
60% |
-30.0 | % | -20.9 | % | -21.0 | % | -21.2 | % | -21.6 | % | -22.1 | % | -22.8 | % | -23.6 | % | -24.5 | % | -25.5 | % | -26.7 | % | -28.0 | % | -29.4 | % | -30.9 | % | -32.5 | % | -34.2 | % | -36.0 | % |
Benchmark Volatility |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One Year Benchmark Performance |
Inverse(-1x) of One Year Benchmark Performance |
0% | 5% | 10% | 15% | 20% | 25% | 30% | 35% | 40% | 45% | 50% | 55% | 60% | 65% | 70% | ||||||||||||||||||||||||||||||||||||||||||||||||
-60% |
60 | % | 150.0 | % | 149.4 | % | 147.5 | % | 144.4 | % | 140.2 | % | 134.9 | % | 128.5 | % | 121.2 | % | 113.0 | % | 104.2 | % | 94.7 | % | 84.7 | % | 74.4 | % | 63.9 | % | 53.2 | % | ||||||||||||||||||||||||||||||||
-55% |
55 | % | 122.2 | % | 121.7 | % | 120.0 | % | 117.3 | % | 113.5 | % | 108.8 | % | 103.1 | % | 96.6 | % | 89.4 | % | 81.5 | % | 73.1 | % | 64.2 | % | 55.0 | % | 45.6 | % | 36.1 | % | ||||||||||||||||||||||||||||||||
-50% |
50 | % | 100.0 | % | 99.5 | % | 98.0 | % | 95.6 | % | 92.2 | % | 87.9 | % | 82.8 | % | 76.9 | % | 70.4 | % | 63.3 | % | 55.8 | % | 47.8 | % | 39.5 | % | 31.1 | % | 22.5 | % | ||||||||||||||||||||||||||||||||
-45% |
45 | % | 81.8 | % | 81.4 | % | 80.0 | % | 77.8 | % | 74.7 | % | 70.8 | % | 66.2 | % | 60.9 | % | 54.9 | % | 48.5 | % | 41.6 | % | 34.4 | % | 26.9 | % | 19.2 | % | 11.4 | % | ||||||||||||||||||||||||||||||||
-40% |
40 | % | 66.7 | % | 66.3 | % | 65.0 | % | 63.0 | % | 60.1 | % | 56.6 | % | 52.3 | % | 47.5 | % | 42.0 | % | 36.1 | % | 29.8 | % | 23.2 | % | 16.3 | % | 9.2 | % | 2.1 | % | ||||||||||||||||||||||||||||||||
-35% |
35 | % | 53.8 | % | 53.5 | % | 52.3 | % | 50.4 | % | 47.8 | % | 44.5 | % | 40.6 | % | 36.1 | % | 31.1 | % | 25.6 | % | 19.8 | % | 13.7 | % | 7.3 | % | 0.8 | % | -5.7 | % | ||||||||||||||||||||||||||||||||
-30% |
30 | % | 42.9 | % | 42.5 | % | 41.4 | % | 39.7 | % | 37.3 | % | 34.2 | % | 30.6 | % | 26.4 | % | 21.7 | % | 16.7 | % | 11.3 | % | 5.6 | % | -0.3 | % | -6.4 | % | -12.5 | % | ||||||||||||||||||||||||||||||||
-25% |
25 | % | 33.3 | % | 33.0 | % | 32.0 | % | 30.4 | % | 28.1 | % | 25.3 | % | 21.9 | % | 18.0 | % | 13.6 | % | 8.9 | % | 3.8 | % | -1.5 | % | -7.0 | % | -12.6 | % | -18.3 | % | ||||||||||||||||||||||||||||||||
-20% |
20 | % | 25.0 | % | 24.7 | % | 23.8 | % | 22.2 | % | 20.1 | % | 17.4 | % | 14.2 | % | 10.6 | % | 6.5 | % | 2.1 | % | -2.6 | % | -7.6 | % | -12.8 | % | -18.1 | % | -23.4 | % | ||||||||||||||||||||||||||||||||
-15% |
15 | % | 17.6 | % | 17.4 | % | 16.5 | % | 15.0 | % | 13.0 | % | 10.5 | % | 7.5 | % | 4.1 | % | 0.3 | % | -3.9 | % | -8.4 | % | -13.1 | % | -17.9 | % | -22.9 | % | -27.9 | % | ||||||||||||||||||||||||||||||||
-10% |
10 | % | 11.1 | % | 10.8 | % | 10.0 | % | 8.6 | % | 6.8 | % | 4.4 | % | 1.5 | % | -1.7 | % | -5.3 | % | -9.3 | % | -13.5 | % | -17.9 | % | -22.5 | % | -27.2 | % | -31.9 | % | ||||||||||||||||||||||||||||||||
-5% |
5 | % | 5.3 | % | 5.0 | % | 4.2 | % | 2.9 | % | 1.1 | % | -1.1 | % | -3.8 | % | -6.9 | % | -10.3 | % | -14.0 | % | -18.0 | % | -22.2 | % | -26.6 | % | -31.0 | % | -35.5 | % | ||||||||||||||||||||||||||||||||
0% |
0 | % | 0.0 | % | -0.2 | % | -1.0 | % | -2.2 | % | -3.9 | % | -6.1 | % | -8.6 | % | -11.5 | % | -14.8 | % | -18.3 | % | -22.1 | % | -26.1 | % | -30.2 | % | -34.5 | % | -38.7 | % | ||||||||||||||||||||||||||||||||
5% |
-5 | % | -4.8 | % | -5.0 | % | -5.7 | % | -6.9 | % | -8.5 | % | -10.5 | % | -13.0 | % | -15.7 | % | -18.8 | % | -22.2 | % | -25.8 | % | -29.6 | % | -33.6 | % | -37.6 | % | -41.7 | % | ||||||||||||||||||||||||||||||||
10% |
-10 | % | -9.1 | % | -9.3 | % | -10.0 | % | -11.1 | % | -12.7 | % | -14.6 | % | -16.9 | % | -19.6 | % | -22.5 | % | -25.8 | % | -29.2 | % | -32.8 | % | -36.6 | % | -40.4 | % | -44.3 | % | ||||||||||||||||||||||||||||||||
15% |
-15 | % | -13.0 | % | -13.3 | % | -13.9 | % | -15.0 | % | -16.5 | % | -18.3 | % | -20.5 | % | -23.1 | % | -25.9 | % | -29.0 | % | -32.3 | % | -35.7 | % | -39.3 | % | -43.0 | % | -46.7 | % | ||||||||||||||||||||||||||||||||
20% |
-20 | % | -16.7 | % | -16.9 | % | -17.5 | % | -18.5 | % | -19.9 | % | -21.7 | % | -23.8 | % | -26.3 | % | -29.0 | % | -31.9 | % | -35.1 | % | -38.4 | % | -41.9 | % | -45.4 | % | -48.9 | % | ||||||||||||||||||||||||||||||||
25% |
-25 | % | -20.0 | % | -20.2 | % | -20.8 | % | -21.8 | % | -23.1 | % | -24.8 | % | -26.9 | % | -29.2 | % | -31.8 | % | -34.7 | % | -37.7 | % | -40.9 | % | -44.2 | % | -47.6 | % | -51.0 | % | ||||||||||||||||||||||||||||||||
30% |
-30 | % | -23.1 | % | -23.3 | % | -23.8 | % | -24.8 | % | -26.1 | % | -27.7 | % | -29.7 | % | -31.9 | % | -34.5 | % | -37.2 | % | -40.1 | % | -43.2 | % | -46.3 | % | -49.6 | % | -52.9 | % | ||||||||||||||||||||||||||||||||
35% |
-35 | % | -25.9 | % | -26.1 | % | -26.7 | % | -27.6 | % | -28.8 | % | -30.4 | % | -32.3 | % | -34.5 | % | -36.9 | % | -39.5 | % | -42.3 | % | -45.3 | % | -48.3 | % | -51.5 | % | -54.6 | % | ||||||||||||||||||||||||||||||||
40% |
-40 | % | -28.6 | % | -28.7 | % | -29.3 | % | -30.2 | % | -31.4 | % | -32.9 | % | -34.7 | % | -36.8 | % | -39.1 | % | -41.7 | % | -44.4 | % | -47.2 | % | -50.2 | % | -53.2 | % | -56.2 | % | ||||||||||||||||||||||||||||||||
45% |
-45 | % | -31.0 | % | -31.2 | % | -31.7 | % | -32.6 | % | -33.7 | % | -35.2 | % | -37.0 | % | -39.0 | % | -41.2 | % | -43.7 | % | -46.3 | % | -49.0 | % | -51.9 | % | -54.8 | % | -57.7 | % | ||||||||||||||||||||||||||||||||
50% |
-50 | % | -33.3 | % | -33.5 | % | -34.0 | % | -34.8 | % | -35.9 | % | -37.4 | % | -39.1 | % | -41.0 | % | -43.2 | % | -45.6 | % | -48.1 | % | -50.7 | % | -53.5 | % | -56.3 | % | -59.2 | % | ||||||||||||||||||||||||||||||||
55% |
-55 | % | -35.5 | % | -35.6 | % | -36.1 | % | -36.9 | % | -38.0 | % | -39.4 | % | -41.0 | % | -42.9 | % | -45.0 | % | -47.3 | % | -49.8 | % | -52.3 | % | -55.0 | % | -57.7 | % | -60.5 | % | ||||||||||||||||||||||||||||||||
60% |
-60 | % | -37.5 | % | -37.7 | % | -38.1 | % | -38.9 | % | -40.0 | % | -41.3 | % | -42.9 | % | -44.7 | % | -46.7 | % | -49.0 | % | -51.3 | % | -53.8 | % | -56.4 | % | -59.0 | % | -61.7 | % |
Benchmark Volatility |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One Year Benchmark Performance |
Two Times Inverse(-2x) of One Year Benchmark Performance |
0% | 5% | 10% | 15% | 20% | 25% | 30% | 35% | 40% | 45% | 50% | 55% | 60% | 65% | 70% | ||||||||||||||||||||||||||||||||||||||||||||||||
-60% |
120 | % | 525.0 | % | 520.3 | % | 506.5 | % | 484.2 | % | 454.3 | % | 418.1 | % | 377.1 | % | 332.8 | % | 286.7 | % | 240.4 | % | 195.2 | % | 152.2 | % | 112.2 | % | 76.0 | % | 43.7 | % | ||||||||||||||||||||||||||||||||
-55% |
110 | % | 393.8 | % | 390.1 | % | 379.2 | % | 361.6 | % | 338.0 | % | 309.4 | % | 277.0 | % | 242.0 | % | 205.6 | % | 169.0 | % | 133.3 | % | 99.3 | % | 67.7 | % | 39.0 | % | 13.5 | % | ||||||||||||||||||||||||||||||||
-50% |
100 | % | 300.0 | % | 297.0 | % | 288.2 | % | 273.9 | % | 254.8 | % | 231.6 | % | 205.4 | % | 177.0 | % | 147.5 | % | 117.9 | % | 88.9 | % | 61.4 | % | 35.8 | % | 12.6 | % | -8.0 | % | ||||||||||||||||||||||||||||||||
-45% |
90 | % | 230.6 | % | 228.1 | % | 220.8 | % | 209.0 | % | 193.2 | % | 174.1 | % | 152.4 | % | 128.9 | % | 104.6 | % | 80.1 | % | 56.2 | % | 33.4 | % | 12.3 | % | -6.9 | % | -24.0 | % | ||||||||||||||||||||||||||||||||
-40% |
80 | % | 177.8 | % | 175.7 | % | 169.6 | % | 159.6 | % | 146.4 | % | 130.3 | % | 112.0 | % | 92.4 | % | 71.9 | % | 51.3 | % | 31.2 | % | 12.1 | % | -5.7 | % | -21.8 | % | -36.1 | % | ||||||||||||||||||||||||||||||||
-35% |
70 | % | 136.7 | % | 134.9 | % | 129.7 | % | 121.2 | % | 109.9 | % | 96.2 | % | 80.7 | % | 63.9 | % | 46.5 | % | 28.9 | % | 11.8 | % | -4.5 | % | -19.6 | % | -33.4 | % | -45.6 | % | ||||||||||||||||||||||||||||||||
-30% |
60 | % | 104.1 | % | 102.6 | % | 98.1 | % | 90.8 | % | 81.0 | % | 69.2 | % | 55.8 | % | 41.3 | % | 26.3 | % | 11.2 | % | -3.6 | % | -17.6 | % | -30.7 | % | -42.5 | % | -53.1 | % | ||||||||||||||||||||||||||||||||
-25% |
50 | % | 77.8 | % | 76.4 | % | 72.5 | % | 66.2 | % | 57.7 | % | 47.4 | % | 35.7 | % | 23.1 | % | 10.0 | % | -3.2 | % | -16.0 | % | -28.3 | % | -39.6 | % | -49.9 | % | -59.1 | % | ||||||||||||||||||||||||||||||||
-20% |
40 | % | 56.3 | % | 55.1 | % | 51.6 | % | 46.1 | % | 38.6 | % | 29.5 | % | 19.3 | % | 8.2 | % | -3.3 | % | -14.9 | % | -26.2 | % | -36.9 | % | -46.9 | % | -56.0 | % | -64.1 | % | ||||||||||||||||||||||||||||||||
-15% |
30 | % | 38.4 | % | 37.4 | % | 34.3 | % | 29.4 | % | 22.8 | % | 14.7 | % | 5.7 | % | -4.2 | % | -14.4 | % | -24.6 | % | -34.6 | % | -44.1 | % | -53.0 | % | -61.0 | % | -68.2 | % | ||||||||||||||||||||||||||||||||
-10% |
20 | % | 23.5 | % | 22.5 | % | 19.8 | % | 15.4 | % | 9.5 | % | 2.3 | % | -5.8 | % | -14.5 | % | -23.6 | % | -32.8 | % | -41.7 | % | -50.2 | % | -58.1 | % | -65.2 | % | -71.6 | % | ||||||||||||||||||||||||||||||||
-5% |
10 | % | 10.8 | % | 10.0 | % | 7.5 | % | 3.6 | % | -1.7 | % | -8.1 | % | -15.4 | % | -23.3 | % | -31.4 | % | -39.6 | % | -47.7 | % | -55.3 | % | -62.4 | % | -68.8 | % | -74.5 | % | ||||||||||||||||||||||||||||||||
0% |
0 | % | 0.0 | % | -0.7 | % | -3.0 | % | -6.5 | % | -11.3 | % | -17.1 | % | -23.7 | % | -30.8 | % | -38.1 | % | -45.5 | % | -52.8 | % | -59.6 | % | -66.0 | % | -71.8 | % | -77.0 | % | ||||||||||||||||||||||||||||||||
5% |
-10 | % | -9.3 | % | -10.0 | % | -12.0 | % | -15.2 | % | -19.6 | % | -24.8 | % | -30.8 | % | -37.2 | % | -43.9 | % | -50.6 | % | -57.2 | % | -63.4 | % | -69.2 | % | -74.5 | % | -79.1 | % | ||||||||||||||||||||||||||||||||
10% |
-20 | % | -17.4 | % | -18.0 | % | -19.8 | % | -22.7 | % | -26.7 | % | -31.5 | % | -36.9 | % | -42.8 | % | -48.9 | % | -55.0 | % | -61.0 | % | -66.7 | % | -71.9 | % | -76.7 | % | -81.0 | % | ||||||||||||||||||||||||||||||||
15% |
-30 | % | -24.4 | % | -25.0 | % | -26.6 | % | -29.3 | % | -32.9 | % | -37.3 | % | -42.3 | % | -47.6 | % | -53.2 | % | -58.8 | % | -64.3 | % | -69.5 | % | -74.3 | % | -78.7 | % | -82.6 | % | ||||||||||||||||||||||||||||||||
20% |
-40 | % | -30.6 | % | -31.1 | % | -32.6 | % | -35.1 | % | -38.4 | % | -42.4 | % | -47.0 | % | -51.9 | % | -57.0 | % | -62.2 | % | -67.2 | % | -72.0 | % | -76.4 | % | -80.4 | % | -84.0 | % | ||||||||||||||||||||||||||||||||
25% |
-50 | % | -36.0 | % | -36.5 | % | -37.9 | % | -40.2 | % | -43.2 | % | -46.9 | % | -51.1 | % | -55.7 | % | -60.4 | % | -65.1 | % | -69.8 | % | -74.2 | % | -78.3 | % | -82.0 | % | -85.3 | % | ||||||||||||||||||||||||||||||||
30% |
-60 | % | -40.8 | % | -41.3 | % | -42.6 | % | -44.7 | % | -47.5 | % | -50.9 | % | -54.8 | % | -59.0 | % | -63.4 | % | -67.8 | % | -72.0 | % | -76.1 | % | -79.9 | % | -83.3 | % | -86.4 | % | ||||||||||||||||||||||||||||||||
35% |
-70 | % | -45.1 | % | -45.5 | % | -46.8 | % | -48.7 | % | -51.3 | % | -54.5 | % | -58.1 | % | -62.0 | % | -66.0 | % | -70.1 | % | -74.1 | % | -77.9 | % | -81.4 | % | -84.6 | % | -87.4 | % | ||||||||||||||||||||||||||||||||
40% |
-80 | % | -49.0 | % | -49.4 | % | -50.5 | % | -52.3 | % | -54.7 | % | -57.7 | % | -61.1 | % | -64.7 | % | -68.4 | % | -72.2 | % | -75.9 | % | -79.4 | % | -82.7 | % | -85.6 | % | -88.3 | % | ||||||||||||||||||||||||||||||||
45% |
-90 | % | -52.4 | % | -52.8 | % | -53.8 | % | -55.5 | % | -57.8 | % | -60.6 | % | -63.7 | % | -67.1 | % | -70.6 | % | -74.1 | % | -77.5 | % | -80.8 | % | -83.8 | % | -86.6 | % | -89.1 | % | ||||||||||||||||||||||||||||||||
50% |
-100 | % | -55.6 | % | -55.9 | % | -56.9 | % | -58.5 | % | -60.6 | % | -63.2 | % | -66.1 | % | -69.2 | % | -72.5 | % | -75.8 | % | -79.0 | % | -82.1 | % | -84.9 | % | -87.5 | % | -89.8 | % | ||||||||||||||||||||||||||||||||
55% |
-110 | % | -58.4 | % | -58.7 | % | -59.6 | % | -61.1 | % | -63.1 | % | -65.5 | % | -68.2 | % | -71.2 | % | -74.2 | % | -77.3 | % | -80.3 | % | -83.2 | % | -85.9 | % | -88.3 | % | -90.4 | % | ||||||||||||||||||||||||||||||||
60% |
-120 | % | -60.9 | % | -61.2 | % | -62.1 | % | -63.5 | % | -65.4 | % | -67.6 | % | -70.2 | % | -73.0 | % | -75.8 | % | -78.7 | % | -81.5 | % | -84.2 | % | -86.7 | % | -89.0 | % | -91.0 | % |
Index Volatility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One
Year Index Performance |
One
and One-Half Times (1.5x) One Year Index Performance |
0% | 5% | 10% | 15% | 20% | 25% | 30% | 35% | 40% | 45% | 50% | 55% | 60% | 65% | 70% | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||
-60% |
-90.0 | % | -74.7 | % | -74.7 | % | -74.8 | % | -74.9 | % | -75.1 | % | -75.3 | % | -75.5 | % | -75.8 | % | -76.2 | % | -76.6 | % | -77.0 | % | -77.4 | % | -77.9 | % | -78.4 | % | -78.9 | % | -79.5 | % | ||||||||||||||||||||||||||||||||||
-55% |
-82.5 | % | -69.8 | % | -69.8 | % | -69.9 | % | -70.1 | % | -70.3 | % | -70.5 | % | -70.8 | % | -71.2 | % | -71.6 | % | -72.0 | % | -72.5 | % | -73.1 | % | -73.6 | % | -74.2 | % | -74.9 | % | -75.6 | % | ||||||||||||||||||||||||||||||||||
-50% |
-75.0 | % | -64.6 | % | -64.7 | % | -64.8 | % | -64.9 | % | -65.2 | % | -65.5 | % | -65.8 | % | -66.2 | % | -66.7 | % | -67.2 | % | -67.8 | % | -68.4 | % | -69.1 | % | -69.8 | % | -70.6 | % | -71.4 | % | ||||||||||||||||||||||||||||||||||
-45% |
-67.5 | % | -59.2 | % | -59.2 | % | -59.4 | % | -59.6 | % | -59.8 | % | -60.2 | % | -60.6 | % | -61.0 | % | -61.6 | % | -62.2 | % | -62.9 | % | -63.6 | % | -64.4 | % | -65.2 | % | -66.1 | % | -67.0 | % | ||||||||||||||||||||||||||||||||||
-40% |
-60.0 | % | -53.5 | % | -53.6 | % | -53.7 | % | -53.9 | % | -54.2 | % | -54.6 | % | -55.1 | % | -55.6 | % | -56.2 | % | -56.9 | % | -57.7 | % | -58.5 | % | -59.4 | % | -60.3 | % | -61.3 | % | -62.4 | % | ||||||||||||||||||||||||||||||||||
-35% |
-52.5 | % | -47.6 | % | -47.6 | % | -47.8 | % | -48.0 | % | -48.4 | % | -48.8 | % | -49.3 | % | -49.9 | % | -50.6 | % | -51.4 | % | -52.3 | % | -53.2 | % | -54.2 | % | -55.3 | % | -56.4 | % | -57.6 | % | ||||||||||||||||||||||||||||||||||
-30% |
-45.0 | % | -41.4 | % | -41.5 | % | -41.7 | % | -41.9 | % | -42.3 | % | -42.8 | % | -43.4 | % | -44.1 | % | -44.8 | % | -45.7 | % | -46.7 | % | -47.7 | % | -48.8 | % | -50.0 | % | -51.3 | % | -52.6 | % | ||||||||||||||||||||||||||||||||||
-25% |
-37.5 | % | -35.0 | % | -35.1 | % | -35.3 | % | -35.6 | % | -36.0 | % | -36.6 | % | -37.2 | % | -38.0 | % | -38.8 | % | -39.8 | % | -40.9 | % | -42.0 | % | -43.3 | % | -44.6 | % | -46.0 | % | -47.4 | % | ||||||||||||||||||||||||||||||||||
-20% |
-30.0 | % | -28.4 | % | -28.5 | % | -28.7 | % | -29.0 | % | -29.5 | % | -30.1 | % | -30.8 | % | -31.7 | % | -32.6 | % | -33.7 | % | -34.8 | % | -36.1 | % | -37.5 | % | -38.9 | % | -40.5 | % | -42.1 | % | ||||||||||||||||||||||||||||||||||
-15% |
-22.5 | % | -21.6 | % | -21.7 | % | -21.9 | % | -22.3 | % | -22.8 | % | -23.4 | % | -24.2 | % | -25.2 | % | -26.2 | % | -27.4 | % | -28.6 | % | -30.0 | % | -31.5 | % | -33.1 | % | -34.8 | % | -36.5 | % | ||||||||||||||||||||||||||||||||||
-10% |
-15.0 | % | -14.6 | % | -14.7 | % | -14.9 | % | -15.3 | % | -15.9 | % | -16.6 | % | -17.5 | % | -18.5 | % | -19.6 | % | -20.9 | % | -22.3 | % | -23.8 | % | -25.4 | % | -27.1 | % | -29.0 | % | -30.9 | % | ||||||||||||||||||||||||||||||||||
-5% |
-7.5 | % | -7.4 | % | -7.5 | % | -7.8 | % | -8.2 | % | -8.8 | % | -9.6 | % | -10.5 | % | -11.6 | % | -12.8 | % | -14.2 | % | -15.7 | % | -17.3 | % | -19.1 | % | -21.0 | % | -22.9 | % | -25.0 | % | ||||||||||||||||||||||||||||||||||
0% |
0.0 | % | 0.0 | % | -0.1 | % | -0.4 | % | -0.8 | % | -1.5 | % | -2.3 | % | -3.3 | % | -4.5 | % | -5.8 | % | -7.3 | % | -8.9 | % | -10.7 | % | -12.6 | % | -14.7 | % | -16.8 | % | -19.0 | % | ||||||||||||||||||||||||||||||||||
5% |
7.5 | % |