Standardized Returns assume reinvestment of dividends and capital gains. It depicts performance without adjusting for the effects of taxation, but are adjusted to reflect sales charges and ongoing fund expenses. If adjusted for taxation, the performance quoted would be significantly reduced. For variable annuities, additional expenses will be taken in account, including M&E risk charges, administration fees, fund-level expenses such as management fees and operating fees, and policy-level charges such as surrender, contract and sales charges. Standardized returns apply to certain investment universes including mutual funds, ETFs, and variable annuities. Trailing standardized returns can only be shown for 1yr, 5yr, 10yr and since inception time periods. Standardized returns never include pre-inception data.