Source: Zephyr StyleADVISOR and Swan Global Investments. The graph above shows an investment of $1,000,000 held over sixteen successive, 10-year investment periods. The first period is 1/1998 to 12/2007; the last period is 1/2013 to 12/2022. All S&P 500 data based on the historical performance of the S&P Total Return Index. All historical performance of the Swan DRS US Large Cap Composite is net of fees. Prior performance is not a guarantee of future results.