Syntax Direct is a technology platform for use only by registered investment advisers, broker-dealers, and other regulated financial entities legally authorized to provide investment advice and/or sell securities in all applicable jurisdictions. The information on this webpage is proprietary and solely for investment professional use, and should not be reproduced, redistributed, or used without the prior written consent of Syntax LLC. This webpage does not constitute an offer to sell or purchase securities. Syntax does not provide financial planning services; financial, investment, tax or legal advice; or broker-dealer services. Charts and graphs are provided for illustrative purposes only.

The use of Syntax indices, data, software, or technology to create financial products requires a license with Syntax and/or its licensors. The usage of MSCI or FTSE Russell indices on Syntax Direct requires additional fees, terms and conditions. FTSE Russell® is a registered trademark of the London Stock Exchange, plc and/or its affiliates. MSCI® is a registered trademark of MSCI Inc. and/or its affiliates. Syntax®, Syntax Direct℠ and Syntax Indices™ and are trademarks, registered trademarks or service marks of Syntax, LLC and/or its affiliates. This webpage and Syntax Direct are not sponsored or endorsed by MSCI, Inc. or the London Stock Exchange, plc.

The index model charted and referenced on this page includes backtested performance. Backtested performance is not actual performance but is hypothetical and is suitable only for institutional investors. Backtested performance may not be predictive of actual or future performance. Backtested data may reflect the application of the index methodology with the benefit of hindsight, and the historic calculations of an index may change from month to month based on revisions to the underlying economic and/or financial data used in the calculation of the index. Funds or portfolios tracking the Syntax Indices are not sponsored by Syntax LLC or its third- party licensors. Index performance does not represent actual fund or portfolio performance, and such performance does not reflect the actual investment experience of any investor. An investor cannot invest directly in an index. In addition, the results actual investors might have achieved also would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in a portfolio invested in accordance with an index. The indices portrayed herein do not charge management fees directly to end investors or incur brokerage expenses, and no such fees, implementation costs or expenses were deducted from the performance shown; provided, however, that the returns of any investment portfolio invested in accordance with such indices would be net of such fees, implementation costs and expenses.

Syntax LLC, its affiliates and their independent providers are not liable for any informational or technical errors or incompleteness, or for any actions taken in reliance on information contained herein. Neither Syntax nor third-party providers of information in this presentation make any warranties or representations with respect to such information. Syntax does not sponsor financial products based on Syntax indices and/or data. Investments are not FDIC insured, may lose value and have no bank guarantee.

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