Annualized S&P 500

From January 1, 1947, until December 31, 2022, the S&P 500 (prior to 1957, there were less than 500 companies in the S&P index that became S&P 500) Returned with dividends reinvested 10.78% per year ( https://www.officialdata.org/us/stocks/s-p-500/1946?amount=100&endYear=2022 ). From January 1, 2005 (when VALAD Plus® began operations) until December 31, 2022, the S&P 500 (prior to 1957, there were less than 500 companies in the S&P index that became S&P 500) Returned with dividends reinvested 9.05% per year. ( https://www.officialdata.org/us/stocks/s-p-500/2005?amount=100&endYear=2022 ).

In no 15-year period beginning in 1947 did the S&P 500 have negative Returns and the worst returns for any such 15-year period were 1.67% per year. For each 12-year period beginning in 1946, the worst 12-year period had a negative return of -0.73% per year with only 2 negative 12-year periods out of the 60 12-year periods in that time frame. For each 10-year period beginning in 1946, the worst 10-year period had a negative return of -3.07% per year with 6 negative 10-year periods out of the 70 10-year periods in that time frame. This information is set forth in more detail below.

Past performance is no guarantee of future results.