Monthly Price/Fair Value by Region 04/30/2017 U.S. Greater Europe P/FV Greater Asia 7.40 +25.0 % 5.50 5.12 0.0 A percentage of 0.0 connotes fairly valued -25.0 U.S. 04/30/2017 2014 2015 2016 Greater Europe 04/30/2017 P/FV (%) Date 52-Week High 8.1 02/17/2017 52-Week Low -2.7 All-Time High* All-Time Low* Greater Asia 04/30/2017 P/FV (%) Date 52-Week High 7.4 04/28/2017 11/04/2016 52-Week Low -5.5 16.6 01/16/2004 All-Time High* -36.3 11/21/2008 All-Time Low* *All-time highs and lows since June 2002 to present. P/FV (%) Date 52-Week High 6.8 04/14/2016 06/24/2016 52-Week Low -4.8 06/24/2016 33.2 07/01/2005 All-Time High* 81.9 05/05/2006 -35.1 10/10/2008 All-Time Low* -40.2 10/24/2008 *All-time highs and lows since June 2002 to present. *All-time highs and lows since June 2002 to present. 7.3 5.5 12.9 8.6 3.4 4.4 8.0 5.2 2.8 5.5 8.4 Averages Value Blend Growth 3.1 2.2 15.4 6.6 8.4 8.5 12.9 10.0 5.5 8.7 11.3 8.5 4.1 3.7 14.6 Averages Value Blend Growth Moat Valuation Large 4.8 0.6 6.7 8.9 5.0 Mid 7.2 6.8 5.9 5.3 6.0 Small 5.6 Large 1.5 Style Valuation Mid Style Valuation Small Style Valuation 4.2 4.2 2.8 3.8 2.3 6.3 7.6 Averages Value Blend Growth Moat Valuation Uncertainty Rating Moat Valuation Uncertainty Rating Economic Moat Low Medium High Very High None 14.9 7.6 10.3 7.1 Narrow 7.7 5.3 6.1 27.0 Wide 4.8 2.4 -7.3 0.0 2017 Large 2013 Mid 2012 Small 2011 Uncertainty Rating Economic Moat Low Medium High Very High Economic Moat Low Medium None 6.8 1.3 9.5 11.0 Narrow 9.4 7.0 11.7 8.9 Narrow Wide 6.6 10.9 0.4 - Wide High Very High None -0.2 2.1 5.8 7.6 7.0 5.5 2.7 1.8 17.7 6.0 16.1 - global.morningstar.com/Morningstarmagazine 107http://global.morningstar.com/Morningstarmagazine