An assessment of the variations in a subaccount's monthly returns, with an emphasis on downside variations, in comparison to similar subaccounts. In each Morningstar Category, the 10% of subaccounts with the lowest measured risk are described as Low Risk, the next 22.5% Below Average, the middle 35% Average, the next 22.5% Above Average, and the top 10% High. Morningstar Risk is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the subaccount. Subaccounts with less than three years of performance history are not rated.