“Global Steward” is a trademark of Global Steward Advisors, LLC, a Registered Investment Adviser. Performance results are presented net of all fees, commissions and expenses. Performance data are compared to S&P 500 returns, although Global Steward investment returns include option writing premiums, international equities and exchange traded funds which have material differences in composition and performance when compared to the S&P 500 Index. Time weighted investment returns are independently calculated by E*TRADE Securities. Individual account performance will vary based on investment and timing of deposits and withdrawals. Investors should consider their own risk tolerance and carefully review an Investment Advisory Agreement and all disclosures before investing. Investment accounts are subject to loss.
Investment results are historical. Past performance is not an indicator of future results. The investment performance figures presented on the E*TRADE Financial web site are an estimate of aggregate security performance and are calculated nightly using the time-weighted performance method. The performance figures will provide the user with a compounded percentage rate of return for an account (stocks, bonds, mutual funds, money market, etc.) Investment performance is calculated net of commission expense. Because the time weighted method is used, any customer-initiated deposits made to the account should not increase performance and any customer-initiated withdrawals should not decrease account performance. The performance information should not be considered tax advice and should not be used for tax purposes. The results shown do not include the effects of gains or losses that may have occurred in your portfolio outside the data range selected.
Time-weighted Performance Method – A method of calculating the compound growth of a portfolio that eliminates the distorting effects of money flowing into and out of the portfolio. With the method, the effects of cash flows are eliminated by assuming a single investment at the beginning of a period and calculating the average annual total return to the end of the period.