U.S. 06/30/2022 12-Month High* 12-Month Low* Style Valuation -17.5 -24.5 -34.0 -21.7 Value -9.7 -17.6 -25.3 -13.6 Blend Moat Valuation Economic Moat None Narrow Wide Sector Valuation r Basic Mat t Cons Cyc y Fin Svcs u Real Estate i Comm Svcs o Energy p Industrials a Technology s Cons Def d Healthcare f Utilities -20.2 -31.0 -21.2 -13.4 -40.1 -7.2 -16.4 -22.1 -1.5 -6.5 2.0 -50% -25 25 -24.5 -22.3 -36.1 -23.0 Growth -17.0 -20.7 -31.1 Averages P/FV (%) 7.1 -19.5 *Month-end highs and lows over trailing 12-months. Date 08/31/2021 06/30/2022 Greater Europe 06/30/2022 P/FV (%) 12-Month High* 12-Month Low* Style Valuation -26.2 -30.2 -37.9 -28.7 Value -17.2 -22.7 -27.2 -19.6 Blend Price/ Fair Value % -29.4 -19.8 -16.0 Company Count 2,042 1,201 233 Moat Valuation Economic Moat None Narrow Wide Sector Valuation r Basic Mat t Cons Cyc y Fin Svcs u Real Estate i Comm Svcs o Energy p Industrials a Technology s Cons Def d Healthcare f Utilities -21.2 -22.3 -25.2 -26.5 -23.3 -19.4 -23.1 -29.9 -3.8 -16.1 -16.3 -50% -25 25 -9.5 -21.0 -27.2 -14.3 Growth -17.6 -24.8 -30.6 Averages 5.1 -20.8 *Month-end highs and lows over trailing 12-months. Greater Asia 06/30/2022 Date 08/31/2021 06/30/2022 12-Month High* 12-Month Low* Style Valuation -22.9 -29.3 -36.8 -26.1 Value -23.6 -26.4 -33.5 -25.3 Blend Price/ Fair Value % -28.6 -20.7 -11.7 Company Count 2,061 1,024 92 Moat Valuation Economic Moat None Narrow Wide Sector Valuation r Basic Mat t Cons Cyc y Fin Svcs u Real Estate i Comm Svcs o Energy p Industrials a Technology s Cons Def d Healthcare f Utilities -29.6 -25.6 -20.2 -25.1 -33.9 -16.9 -25.0 -31.8 -7.6 -21.2 -18.8 -50% -25 morningstar.com/products/magazine 25 75 -19.7 -25.3 -34.8 -22.6 Growth -22.3 -26.9 -34.9 Averages P/FV (%) -8.8 -25.0 *Month-end highs and lows over trailing 12-months. Date 07/31/2021 04/30/2022 Price/ Fair Value % -27.7 -20.8 -25.5 Company Count 10,989 3,034 113 Defensive Sensitive Cyclical Small Defensive Sensitive Cyclical Mid Large Small Defensive Sensitive Cyclical Mid Large Small Mid Largehttp://www.morningstar.com/products/magazine