| 
Cumulative annual performance
(3)
(net of fees) 01/01/78 - 06/30/10
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 06/30/10
|
| |
YTD |
1
Yr |
3
Yrs |
5
Yrs |
10
Yrs |
20
Yrs |
32.50
Yrs |
 |
| Reaves
(gross of fees) |
-9.94 |
7.52 |
-7.64 |
2.70 |
5.65 |
9.76 |
13.90 |
|
| Reaves
(net of fees) |
10.17 |
6.97 |
-8.12 |
2.17 |
5.11 |
9.19 |
13.10 |
|
| S&P
Utilities Index |
-7.14 |
5.73 |
-6.81 |
1.56 |
2.80 |
7.10 |
10.85 |
|
| S&P
500 Index |
-6.65 |
14.43 |
-9.81 |
-0.79 |
-1.59 |
7.67 |
10.89 |
|
|
See
endnotes for important disclosures
and index definitions including ERISA comparisons. |
| |
| |
| |
| |
|
