COBA Portfolio

Performance Summary
As of June 30, 2020

  Quarter Fiscal
YTD
1-Year 3-Year 5-Year 7-Year 10-Year Since
Inception
COBA 18.65% -4.30%  2.68%  6.35%  8.30% 11.66% 11.35% 9.47%
S&P 500 Index*  20.54% -3.08%  7.51%  10.73%  10.73% 12.13% 13.99% 6.02%
Difference -1.89% -1.22%  -4.83%  -4.38%  -2.43% -0.46% -2.64% 3.46%
Tracking Error** 3.56% 3.53% 4.29% 4.48% 6.83% 12.80%
Information Ratio***  -1.36  -1.24   -0.57   -0.10 -0.39    0.27  
Months>Benchmark  25%   39%    43%   46% 46%    51%  

Periods greater than one year are annualized.

Inception: June 30, 2000
* Performance of the S&P 500 Total Return Index (Source: Bloomberg SPXT Index) is used for comparison purposes only. The COBA Portfolio does not have a formal mandated benchmark against which it is managed.
** Tracking error is annualized and based on monthly return differences relative to the S&P 500 Index. Due to incomplete monthly data for the portfolio during the period December 2001 through April 2004, S&P 500 Index returns were used in twelve separate months for the purposes of calculating tracking error.
*** Information ratio is the ratio of the annualized relative return divided by the tracking error. See note regarding tracking error.

COBA portfolio value as of June 30, 2020: $152,128.