Post by Trev H » Tue Jun 02, 2009 8:42 pm

Les,I agree with Livesoft on the asset class statement.Below is from my return data source document for the International equity returns shown in the charts. Other than ILB (or Total International) most of the older data came from IFA.com and I am listing the sources they list.ILB - Total International:============================MSCI EAFE Index 1970-1987 (Developed Only)85% EAFE Index, 15% Emerg Mkt Index 1988-1996Vanguards Total Intel Index Fund 1997-2008ILV - International Large Value including EM===============================85% IV, 15% EV (ifa.com) 1970-1990IV – 1970-1974 MSCI EAFE Gross Div -3.67 bp/month---- 1975-1990 MSCI EAFE Value Gross Div -3.67 bp/monthEV - 1970-1988 IFA EM Index---- 1989-1990 Fama/French EM Value Index -5.0 bp/month1991-2008 Vanguards International Value FundISB - International Small Cap including EM============================================1970-1996 85% IS, 15% ES (ifa.com)IS - Dimensional Intl Small Cap Index -4.58bp/monthES - 1970-1988 IFA Emerging Markets Index,---- 1989-1996 Fama/French EM Small -6.5bp/month1997-2008 Vanguards International Explorer Fund2009-Forward Vanguards FTSE X-US Intl Small Cap IndexISV – International Small Value including EM============================================1970-2008 85% ISV, 15% ESV (data from ifa.com + DFA Funds)ISV 1970-1981 Dimensional Intl Small Cap Index -4.58 bp/month--- 1982-1994 Dimensional Intl Small Value Index -5.75 bp/month--- 1995-Present – DFA Intl Small Cap Value Fund DISVXESV = 50% EV, 50% ES *calculated* (ifa.com)--- EV 1970-1988 IFA EM Index------ 1989-1998 Fama/French EM Value Index -5.0 bp/month------ 1999-Present DFA EM Value Fund DFEVX--- ES 1970-1988 IFA EM Index------ 1989-1998 Fama/French EM Small Index -6.5 bp/month------ 1999-Present DFA EM Small Cap Fund DEMSX==And if you look at the same mixes starting in 1997 going forward, using nothing but Vanguard Fund Returns you get the same (or at least very similar results).Total Intl & International Explorer had their first full year in 1997.My data set does use actual Vanguard Fund returns where possible (best of asset class) which for 1997-2008 for ISB = International Explorer - but going forward will be FTSE X-US Intl Small Cap.I bought into FTSE X-US Intl Small Cap during the subscription period, and the lack of fund history did not concern me at all - I was really just wanting asset class specific performance and the diversification ISB offers.Last time I checked that part of my S&D was up 20%+ since I bought it - could become my new best friend* Added a bit later (after checking)... it is actually up 30.35% as of today - Ok - officially my new best friend now.Actually I like all the parts and expect them to all be my best friend at times - when one lags, another will take up the slack. REIT and SV are the laggers now, but it was no long ago they had their time to shine and no doubt will again.==