| 
Cumulative annual performance
(3)
(net of fees) 01/01/78 - 3/31/08
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 3/31/08
|
| |
YTD |
1
Yr |
3
Yrs |
5
Yrs |
10
Yrs |
20
Yrs |
30.25
Yrs |
 |
| Reaves
(gross of fees) |
-7.69 |
5.55 |
15.24 |
20.81 |
10.03 |
13.15 |
15.89 |
|
| Reaves
(net of fees) |
-7.81 |
5.02 |
14.66 |
20.19 |
9.47 |
12.56 |
15.06 |
|
| S&P
Utilities Index |
-9.94 |
-1.62 |
12.97 |
19.75 |
6.27 |
10.59 |
12.44 |
|
| S&P
500 Index |
-9.44 |
-5.08 |
5.85 |
11.32 |
3.50 |
10.95 |
12.48 |
|
|
See
endnotes for important disclosures
and index definitions including ERISA comparisons. |
| |
| |
| |
| |
|
