We believe risk management is as important as raw performance.  That is why we show you a measure of portfolio volatility (Standard Deviation) along with performance.  We encourage you to examine our complete performance data here.

Lyon Capital Management

Asset Class Returns

As of 12/31/2023

strong performance, lower volatility

Past performance is not a guarantee of future results. Index returns do not reflect management fees and commissions. Performance is calculated using daily intervals from 2023 onward and is calculated using monthly intervals prior to 2023. Gross performance results are presented before management fees.  Net performance results are presented after deducting a 1% management fee.  With a portfolio of larger than $1 million, fees are lower and net performance is higher.  See our fee schedule in Part 2 of the Firm’s SEC form ADV brochure.

IMPORTANT: Please read relevant disclosures detailed here: Disclosures

An explanation of the indices used to illustrate the application of our investment strategy is as follows:

·   Russell 1000® Value Index- This index measures the performance of the large-cap and mid-cap value segment of the U.S. equity universe. It includes Russell 1000® companies with relatively lower price-to-book ratios, lower Institutional Brokers’ Estimate System (I/B/E/S) forecast of medium-term (2 years) growth, and lower sales per share historical growth (5 years). It is commonly used as a measure of U.S. large-cap and mid-cap equity value investments, an investing style similar to that of Lyon Capital Management LLC.

·   S&P 500® Index- This index measures the performance of 500 public companies in leading industries of the U.S. economy. It is designed to reflect the risk/return characteristics of the large-cap U.S. equity universe. It is commonly used as a measure of the performance of the entire U.S. stock market.

·   Bloomberg US Government/Credit Bond Index- This index (formerly Barclays Capital, formerly Lehman Brothers Gov’t/Credit index) measures the non-securitized component of the U.S. Aggregate Index, which measures the performance of U.S. dollar-denominated U.S. Treasury bonds, government-related bonds, and investment-grade U.S. corporate bonds with a maturity of greater than or equal to one year. It is commonly used as a measure of the performance of fixed income securities.

·   The Consumer Price Index (CPI)- This index (also know and used as the inflation index) is a measure calculated by the US. Department of Labor and is the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is commonly used as a portfolio measure to ensure that an investor is “keeping up with inflation”.