We strive to produce results that will:
- Limit your downside risk to 4%-5%* (even in a bad month or quarter)
- Target an average annual total return of 6%-8%*, after fees, on average through a market cycle
|Average Annualized Returns Versus Goals|
|Sierra Customized Accounts||6%-8%||7.95%||12/31/94 – 12/31/16|
|Sierra High Yield Corporate Bond Program||6%-8%||8.39%||12/31/94 – 12/31/16|
|Sierra CA Municipal Bond Program||6%||4.10%||6/30/14 – 12/31/16|
|Sierra Municipal Bond Program||6%||4.08%||6/30/14 – 12/31/16|
|Sierra Strategic Income Program||6%-8%||4.18%||12/31/11 – 12/31/16|
The benchmark for the Sierra Customized Accounts is the Conservative Allocation Morningstar Category, recently renamed Allocation – 30% to 50% Equity. Funds in allocation categories seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposure between 30% and 50%.
The benchmark for the Sierra High Yield Corporate Bond Program, Sierra California Municipal Bond Program, Sierra Municipal Bond Program and Sierra Strategic Income Program is the Bloomber Barclays U.S. Aggregate Bond Index, which is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market.
*Although Sierra believes its risk-mitigating disciplines will continue to limit the impact of major market declines, no assurance can be given that these goals can be consistently achieved in the future.