Monthly Price/Fair Value by Region 04/30/2018 U.S. Greater Europe P/FV Greater Asia +25.0% 2.6 -0.1 0.0 -1.1 A percentage of 0.0 connotes fairly valued -25.0 2014 U.S. 04/30/2018 2016 Greater Europe 04/30/2018 P/FV (%) Date 52-Week High 14.7 01/26/2018 52-Week Low -0.5 All-Time High* All-Time Low* Date 52-Week High 9.0 01/19/2018 04/06/2017 52-Week Low -0.5 16.6 01/16/2004 All-Time High* -36.5 11/21/2008 P/FV (%) Date 52-Week High 13.7 01/26/2018 03/23/2018 52-Week Low -2.2 04/06/2018 34.2 07/01/2005 All-Time High* 105.3 05/05/2006 All-Time Low* -35.2 10/10/2008 All-Time Low* -40.8 10/24/2008 *All-time highs and lows since June 2002 to present. *All-time highs and lows since June 2002 to present. 0.2 2.3 12.3 4.7 -3.5 -0.8 4.7 -0.2 -4.8 -0.5 5.2 Averages Value Blend Growth -6.1 -0.7 12.9 2.0 0.9 5.3 11.8 6.1 -3.9 -0.3 3.4 -0.2 -4.6 0.5 11.8 Averages Value Blend Growth Moat Valuation Large -0.7 -3.8 2.0 1.7 -0.2 Mid 3.9 -3.0 -1.7 0.5 -1.5 Small -1.0 Large -6.0 Style Valuation Mid Style Valuation Small Style Valuation -6.5 -6.8 -7.0 -6.7 -3.9 0.5 0.7 Averages Value Blend Growth Moat Valuation Uncertainty Rating Low Medium 2017 Greater Asia 04/30/2018 P/FV (%) *All-time highs and lows since June 2002 to present. Economic Moat 2015 Moat Valuation Uncertainty Rating High Very High None 3.4 2.1 5.9 -14.1 Narrow 1.8 -1.5 8.9 27.4 Wide 8.4 -2.1 -8.9 -30.3 Economic Moat Large 2013 Mid 2012 Small 2011 Low Medium Uncertainty Rating High Very High None 0.2 -1.0 1.5 1.8 Narrow 3.4 4.7 2.9 -17.5 Wide 2.8 1.9 13.9 - Economic Moat None Low Medium High Very High -0.8 1.0 -1.7 -11.1 Narrow 4.7 0.0 3.1 -16.3 Wide 2.6 8.4 -8.5 - global.morningstar.com/Morningstarmagazine 107http://global.morningstar.com/Morningstarmagazine