The investment summary graph plots the approximate market value of the security or portfolio over the investing horizon. It may also include the net dollars invested in the illustration and/or a benchmark. Net Dollars Invested includes dollar inflows and outflows to the investor, including inflows representing taxes and wrap fees paid out of pocket.
If a benchmark index is included on a graph, it assumes a similar pattern of investment/withdrawal as for the security or portfolio. Transaction costs are not applied to the benchmark index. Note that direct investment in an index is not possible. Indexes are unmanaged portfolios representing different asset classes, with varying levels of associated risk. The benchmark index included in the graph may or may not represent an appropriate or accurate comparison with the security or portfolio illustrated.