Monthly Price/Fair Value by Region 06/28/2019 U.S. Greater Europe Greater Asia P/FV +25.0% A percentage of 0.0 connotes fairly valued 1.0 -1.2 0.0 -5.6 -25.0 U.S. 06/28/2019 2015 2017 Greater Europe 06/28/2019 P/FV (%) Date 52-Week High 5.2 08/31/2019 52-Week Low -14.0 All-Time High* All-Time Low* Date 52-Week High 2.8 07/27/2018 12/21/2018 52-Week Low -12.7 16.6 01/16/2004 All-Time High* -36.5 11/21/2008 All-Time Low* Date 52-Week High -1.2 04/19/2018 12/28/2018 52-Week Low -16.7 12/21/2018 34.2 07/01/2005 All-Time High* 105.9 05/05/2006 -35.2 10/10/2008 All-Time Low* -40.8 10/24/2008 *All-time highs and lows since June 2002 to present. 0.9 13.2 2.0 -11.9 -6.2 -1.0 -6.7 -6.5 0.9 9.8 Averages Value Blend Growth -0.7 16.7 -0.5 -7.6 -2.6 7.6 0.8 -12.7 -6.9 0.5 -6.4 -15.2 -1.7 13.5 Averages Value Blend Growth Moat Valuation Large -7.4 -17.5 -12.6 -2.9 2.5 -4.9 Mid 2.1 Large 9.8 Mid 1.5 Style Valuation Small Style Valuation -5.8 -10.3 -4.7 0.3 -5.3 -14.9 -9.8 -7.5 -11.3 -12.4 -3.9 1.2 Averages Value Blend Growth Moat Valuation Uncertainty Rating Moat Valuation Uncertainty Rating Low Medium High Very High None 10.5 3.2 -3.1 -14.9 Narrow 12.9 -1.5 -5.6 0.6 Wide 14.7 7.3 -4.0 -17.2 Economic Moat Uncertainty Rating Low Medium High Very High None 1.0 -6.2 -9.3 -19.6 Narrow 6.9 -8.7 -1.8 -9.1 18.6 22.3 -5.9 - Wide 2019 P/FV (%) *All-time highs and lows since June 2002 to present. Style Valuation 2018 Greater Asia 06/28/2019 P/FV (%) *All-time highs and lows since June 2002 to present. Economic Moat 2016 Large 2014 Mid 2013 Small 2012 Small 2011 Economic Moat Low Medium High Very High None -4.3 -7.1 -7.6 -17.5 Narrow 12.8 0.0 -3.1 -8.5 Wide 14.0 12.1 -0.1 - global.morningstar.com/Morningstarmagazine 75http://global.morningstar.com/Morningstarmagazine