Specifically, the PIP data would reflect a minimum of ten years since the inception of the index. The data would be released as the most recent quarter.
The PIP data is based on a new product, and any performance prior to the index’s inception is hypothetical. Consequently, the data would not be used as a definitive indicator for future performances as some of the data may be flawed. For instance, interest rates could be a changing factor on performance, de-listings or changes to an index over time, transaction costs and market liquidity, among others.
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Max Chen contributed to this article.