COBA Portfolio

Performance Summary
As of December 31, 2022

  Quarter Fiscal
YTD
1-Year 3-Year 5-Year 10-Year Since
Inception
COBA 10.42% 3.66%  -8.01%  9.50%  9.42% 12.42% 9.91%
S&P 500 Index*  7.56% 2.31%  -18.11%  7.66%  9.42% 12.56% 6.52%
Difference 2.85% 1.35%  10.10%  1.84%  0.00% -0.14% 3.39%
Tracking Error** 5.26% 4.91% 4.20% 4.59% 12.18%
Information Ratio***  1.92  0.37   0.00   -0.03    0.28  
Months>Benchmark  75%   50%    47%   47%    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 December 31, 2022: $196,072.21.