The crossing lines represent the
5-year return (horizontal line) and 5-year standard deviation or volatility
or risk (vertical line) of the index against which the Fund is being
Each point represents the Fund's 5-year return (vertically)
and standard deviation or volatility (horizontally), relative to the
index. If a point is in the
southwest quadrant, for example, the 5-year return of the Fund has been
less than (below) the index line, and the 5-year standard deviation
(volatility) has also been less than (to the left of) the index line.
There are four points, one for each of the last four quarters. The earliest one is the smallest and the
quarter just ended being the largest.
Each point shows the 5-year relative position of the Fund versus the
index for that quarter. The
movement of the points shows the trend, or direction, over time.
As noted in the graph, the best place to be is the northwest quadrant
(less risk and a higher return); the worst place to be is the southeast
quadrant (more risk and a lower return).