Using the aggregate value of each security’s weights in the index, the value of the index can be found by multiplying its last base price by an index divisor. The Nasdaq 100 is a major stock market index featuring more than 100 of the largest publicly-traded non-financial businesses on the Nasdaq composite index, the second-largest stock exchange in the world. The value of the index is calculated by multiplying each security’s last sale price with the aggregate value of the index share weights of each of the index securities, then dividing by an index divisor. The Nasdaq 100 Index is constructed on a modified capitalization methodology. This modified method uses individual weights of included items according to their market capitalization. As the NASDAQ is the second-largest stock exchange in the world and the NAS100 is one of the most actively traded indices, opportunities to trade the market abound.

• Originally just a quotation system with no execution functionality, the NASDAQ exchange was the world’s first electronic stock market and the first online stock market, a logical home for the world’s greatest tech stocks.
• The composition of the Nasdaq 100 and the weighting of the shares included in it are reviewed once annually and adjusted where necessary.
• One should manage high risk appropriately by limiting open trade exposure to less than 5%, using the proper leverage, and following a risk-reward ratio.
• A particularly pronounced spike was during the dot-com boom around the turn of the 21st century, when the index rose above the 5,000 mark.

“The Fed just told us the economy is still too hot to stop hiking, bad news for bonds but good news for cyclicals and stocks,” Bank of America said. Exchange Traded Funds (ETFs) are the most popular way to invest in the NASDAQ 100 index. It is more cost-effective than buying individual shares and the rebalancing is done frequently. When you trade the index using CFDs, you can speculate on the direction of the underlying instrument (the NASDAQ 100) without owning it or any of its constituents. You can make use of leverage and you will have the ability to go both long and short.

Markets This Week, 9/18-9/22, 2023: Mixed Data

As well as being a trader, Milan writes daily analysis for the Axi community, using his extensive knowledge of financial markets to provide unique insights and commentary. The liquidity criteria require that each security have a minimum average daily trading volume of 200,000 shares (measured over the three calendar months). While its heavy tech weighting is responsible for much of its current outsize returns, it’s also led to similarly disproportionate drops. The 2008 recession and dot-com bubble, for example, caused the Nasdaq Composite to plummet as technology companies shut their doors. But over time, it recovered and surpassed other indexes as growth-focused tech companies thrived. Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets.

• Over the past more than 10 years, the Nasdaq Composite has outperformed other major stock market indexes.
• However, Forex trading the market directly from South Africa may be difficult if you aren’t already set up with a US equities brokerage.
• The Nasdaq 100 index is tracked by the exchange-traded fund PowerShares QQQ Trust (QQQ).
• The NASDAQ 100 is influenced by a variety of factors that also move the broader stock market.
• The weight each stock has in the index is determined by its market capitalisation, meaning the higher the market cap of a particular component, the higher its influence on the index.
• The reason for this is that some companies have two share classes – for example, Alphabet has Class A and Class C shares in the index.

Milan Cutkovic has over eight years of experience in trading and market analysis across forex, indices, commodities, and stocks. He was one of the first traders accepted into the Axi Select programme which identifies highly talented traders and assists them with professional development. Furthermore, investors should pay close attention to the overall risk sentiment in the stock market. Tech stocks are likely to suffer the most during periods of “risk-off” as investors will move out of risky stocks and seek safe havens. About 55% of the benchmark’s value consists of stocks in the technology sector. Its second biggest sector is consumer discretionary, with less than 20% of the benchmark’s value.

Furthermore, futures offer superior leverage compared to NASDAQ exchange-traded funds (ETFs), which are also highly leveraged. An index divisor gives a price-weighted stock market index its nominal value. The NASDAQ-100 index was launched in 1985 alongside the NASDAQ Financial Index.

How to trade NASDAQ 100?

For example, the company must already have been listed on the Nasdaq for two years, and must have sufficiently high share capitalization and a certain trading volume. The composition of the Nasdaq 100 and the weighting of the shares included in it are reviewed once annually and adjusted where necessary. Investors have the option of investing in exchange-traded funds (ETFs), what is trade size mutual funds, futures and options, or annuities. For the average investor, opting for an ETF is the simplest and least risky means of gaining exposure to the companies in the index. The Nasdaq Composite tracks the performance of more than 2,500 stocks listed on the Nasdaq while the Nasdaq 100 captures the performance of the exchange’s largest non-financial companies.

NASDAQ exchange was looking to compete with the much larger and older NYSE and Standard & Poor’s S&P500 index. These new products were the first step on that journey, allowing for creating a suite of futures and derivatives markets, further fuelling the exchange and index growth. The value of the index is determined by the aggregate value of the index share weights of each of the index securities, multiplied by each security’s last sale price and divided by an index divisor. For example, Google’s parent company Alphabet has Class A (GOOGL) and Class C (GOOG) shares in the fund.

The Nasdaq Composite Index is one of the most widely followed stock indexes in the U.S. Together with the Dow Jones Industrial Average and the S&P 500, it’s one of the three most popular stock indexes cited by market commentators to represent how the stock market as a whole is performing on any given day. Futures traders can trade both long and short sides without short-selling restrictions or uptick regulation like stock traders do. Traders who predict NASDAQ falling prices may sell positions before going short. NASDAQ futures can be traded with minimal capital and command substantial contract values.

What Is the Difference Between the Nasdaq 100 and the S&P 500?

When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset. AxiTrader is not a financial adviser and all services are provided on an execution only basis. Information is of a general nature only and does not consider your financial objectives, needs or personal circumstances.

How to Invest in a Nasdaq Index

The Nasdaq 100 index uses what it calls a modified market cap weighting, although generally the largest component stocks have the biggest impact on the Nasdaq 100’s value. The shares included in it are weighted according to market capitalization; the index level represents the average of the shares included in it. Trading indicators can be extremely confusing, so traders need to pick comfortable indicators that are easy to fundamental analysis forex understand. One should manage high risk appropriately by limiting open trade exposure to less than 5%, using the proper leverage, and following a risk-reward ratio. Do not risk money on complex instruments you cannot afford to lose for personal circumstances. As stock markets generally trend up over time and for prolonged periods, the go-to Forex trading strategy for tracking stocks and other indices is trend-following.

The group also includes NAGA Global (CY) Ltd, with registered address at Nikokreontos 2, NICE DREAM, 6th floor, Flat/Office 601, 1066, Nicosia, Cyprus. Get this the world’s largest foreign exchange market is located in delivered to your inbox, and more info about our products and services. Learn everything you need to know about index trading and how it works in this guide.

Technology sector stocks dominate the NASDAQ 100, and the following are why investors choose NASDAQ futures over NASDAQ stocks. Trend-following strategies have a distinct advantage over passive buy-and-hold investing as they will not leave you holding bags of common stocks when the market eventually turns bearish. In some companies, there are two share classes – for instance; Alphabet has shares in Class A and Class C. The NASDAQ exchange is the second-largest stock exchange in the world behind the New York Stock Exchange (NYSE).

If you’d like to start trading Forex and NAS100 trends on a different currency, a reliable and trusted South African CFD broker like Trade Nation is the logical place to start. This analysis can serve to analyze charts as well as to search for buy and sell signals. Indices help recognize current market trends, possible retracement patterns, and shifts in sentiment.

You will find cash machines in towns and cities, and in most rural areas there will be at least one place where you can withdraw money, such as at a kiosk, grocery shop, or petrol station. According to travel search site Momondo, the average price per night for a room is NOK 1855, but prices vary greatly according to season, location, comfort level, and the facilities available. The krone was introduced in 1875, when Norway joined the Scandinavian Monetary Union. The coins and banknotes are distributed by the Central Bank of Norway. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.

We maintain our neutral to slightly negative view on the euro in response to the steady stream of weaker economic data surprises and rising stagflation risk. Any return of pessimism and equity volatility over the next few months would likely support the euro vs. higher-beta currencies as we saw in August, but a broad euro upside appears unlikely in the near future. Just learn the exchange rate before you go, pack a credit card that allows for international transactions without fees, and you’re probably good to go. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. These are the average exchange rates of these two currencies for the last 30 and 90 days.

Convert NOK to USD at the real exchange rate

Despite our longer-term bear market thesis, it is hard to argue against the US dollar at the moment. It is both a defensive and high-yielding currency, while the US economy is holding up better than most – a very attractive trio of factors for the dollar against the backdrop of a fragile world. This is especially true, heading into September, which typically brings higher level of equity market volatility. The high-growth, high-yield, safe-haven USD was the big winner in August, while the risk-sensitive NOK led the downside despite stronger oil prices. Tactically, we shift from neutral to slightly positive on the NOK as it appears oversold relative to the recent strength in oil prices. Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction.

• The Riksbank is likely to keep pace with or tighten more than the ECB over the next several months given the stickiness of core inflation.
• However, low productivity growth and high inflation are pushing fair value lower, which is on pace to trend down to the lower 1.30s against the US dollar over the next few years.
• Most bureau de change counters, and Post Office branches, will have Norwegian Kroner in stock.
• However, if you order it in advance any currency counter should be able to source it for you.
• A 1 kr theoretically isn’t the smallest denomination of Norwegian money.

But that may provide little support for the pound as tighter monetary policy further damages an economy already teetering close to recession. Banks and other transfer services have a dirty little secret. They add hidden markups to their exchange rates – charging you more without your knowledge. In the near term, currency market performance is likely to look similar to that in August, with more cyclically sensitive currencies underperforming. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate.

NOK To USD Convert Norwegian Krone To United States Dollar

Keep an eye on your coins and try to spend them all before the end of your trip. It’s much harder to convert them back into your home currency compared to banknotes. Just in case you do need to use cash during your trip, here’s what you need to know. 10 NOK is currently around 1 Euro or 1 US Dollar, which is a pretty easy conversion rate to remember! Simply remove a zero from the price in NOK, and that’s your price in USD/EUR. I recommend taking around 800 NOK with you to Norway as an emergency fund.

The Riksbank is likely to keep pace with or tighten more than the ECB over the next several months given the stickiness of core inflation. That sounds positive on the surface, but will put further pressure on the economy and weigh on the krona’s outlook. We shift from neutral to slightly positive on the krone as it appears oversold relative to the recent strength in oil prices, late August recovery in equity markets, and hopes of further monetary tightening.

NOK

Wise is a Money Service Business registered with FinCen. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Assets may be considered “safe havens” based on investor perception that an asset’s value will hold steady or climb even as the value of other investments drops during times of economic stress. Perceived safe-haven assets are not guaranteed to maintain value at any time.

The yen is likely to struggle in the near term, given its negative short-term interest rates. But we see risks skewed toward a yen recovery later this year and through 2024. The yen is very cheap, and we expect global yields to turn lower, along with a period of severely below-trend global growth as we head into next year. This supports yen strength via improved yield differentials and safe-haven demand.

00000 NOK = 0.09306 USD

SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors. The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. The best currency to use in Norway is the Norwegian Kroner (NOK).

Norway has its own currency called the Norwegian Kroner (NOK). It’s been the official currency of Norway since 1875. The Norwegian Kroner is less common at currency counters in the US since it’s not a country a tonne of US visitors flock to compared to, say, Mexico. However, if you order it in advance any currency counter should be able to source it for you. If you do bring Euros to Norway, you’ll easily be able to convert them into the local currency at a bureau de change.

Persons under these restrictions must not access the Site. From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. I hope this post helped you feel more confident about what currency to use in Norway! In summary – Norwegian Kroner is the currency to use in Norway, and you can’t use Euros.

This document may contain certain statements deemed to be forward-looking statements. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSGA’s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. We are negative on the franc over both the tactical and strategic horizons. It is the most expensive G10 currency per our estimates of long-run fair value.

Our models are neutral on the Canadian dollar, with improved oil prices offsetting modest softening in economic data and sluggish relative Canadian equity market performance. Our view of the British pound is increasingly negative in response to the decelerating economic data, persistently high inflation, and poor UK equity market performance. We expect the Bank of England (BoE) to raise rates again at its September meeting and probably at least one more time by year-end .

Past performance is not a reliable indicator of future performance. We are pessimistic on the New Zealand dollar over the near term. To be safe it’s worth bringing one of each with you just so you have a backup option. Sure, I only stayed in Oslo, so it may be the case that in smaller towns and villages card payment isn’t as common, but card payments do seem to be a firm part of the Norwegian way of life nowadays. I’d heard that Norway was nearly a cashless society, but this became abundantly clear when I first visited. I also didn’t notice any minimum spend for card payments.

These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.

US dollars to Norwegian kroner

It’s always a good idea to arrive in Norway with a small amount of cash just in case your card doesn’t work in the ATM Machines (it’s possible!). All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There what is nominal is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. The information provided does not constitute investment advice and it should not be relied on as such.

You can download the Norwegian currency calculator, and then you can simply enter the amount of kroner or your own currency and it will convert the amount for you. It’s very easy to get Norwegian Kroner in the UK since many tourists visit the country every year. Most bureau de change counters, and Post Office branches, will have Norwegian Kroner in stock. Otherwise you can order it online to go and collect it. Norwegian currency is available in the UK, US and other countries, and you shouldn’t have any trouble getting your hands on some.

The currency used in Norway is the Norwegian kroner (NOK). This can come as a surprise to unprepared travellers who, logically, think that since Norway is in Europe it will use the Euro. For those of you who want to be prepared, though, here’s everything you need to know about money and currency in Norway ahead of your trip. Here are some prices that travelers often wonder about when visiting Norway. The list below shows average prices and ranges as listed on numbeo.com in January 2020 and are subject to change. Here are some prices that travellers often wonder about when visiting Norway.

Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. Live tracking and notifications + flexible delivery and payment options. Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are https://1investing.in/ not hedged. We expect another policy rate increase from the Swiss National Bank (SNB) in September, but think that will be accompanied by more neutral comments and a reduction in the SNB’s propensity to intervene in support of the franc. Such a dovish shift should encourage the highly overvalued franc to correct lower, though the rising risk of EU stagflation and the fragile global macro may delay the expected sell-off.

Recent years have been particularly taxing for investors in emerging-markets stocks. But after 10 lean years, emerging-markets equities looked set to re-emerge in 2020. From the end of February 2020 through year-end, the emerging-markets forex eas index increased 31%, while its developed-markets counterpart rose 27.38%. Digging into the drivers of the benchmark’s recent performance yields some interesting insights into how its complexion has changed in recent years.

• Actual after-tax returns depend on the investor’s tax situation and may differ from those shown.
• The temperature goal of the Paris Agreement is to limit global warming to well below 2°C above pre-industrial levels, and ideally 1.5 °C, which will help us avoid the most severe impacts of climate change.
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• The research on emerging markets is diffused within management literature.

Sept 28 (Reuters) – Emerging market stocks languished at a six-month low on Thursday as investors wrestled with the prospect of higher U.S. borrowing costs and a rise in crude prices depressed currencies of oil importing nations. An exchange-traded Trading gbp usd fund (ETF) is a financial security that simulates and tracks an underlying index. In other words, an ETF bundles a collection of securities similar to that of any other index and is traded on an exchange, like a stock.

Fast forward to the end of 2020, and MSCI had made four steps down the path toward full China A-shares inclusion in its mainline benchmarks, and China A-shares represented 4.3% of iShares Core MSCI Emerging Markets ETF’s IEMG portfolio. Ultimately, these moves will bring China’s standing in equity indexes more in line with the true footprint of the nation’s capital markets and its economy at large. Emerging markets are considered a risky investment, due to political risks and currency exchange fluctuations. In emerging markets, the spread of returns between countries has tended to be wide, especially over short-term time horizons. For example, over the three years ended July 31, 2019, the difference in returns between the best- and worst-performing EM country was 40% — more than twice the range in developed markets.

Intro – Emerging Markets 2023

Take your learning and productivity to the next level with our Premium Templates. Access and download collection of free Templates to help power your productivity and performance. Buying and selling shares of ETFs will result in brokerage commissions. IShares funds are available through online brokerage firms.All iShares ETFs trade commission free online through Fidelity. Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

• Our thought leadership in investing, risk management, portfolio construction and trading solutions.
• In a sense, many investors invest in the emerging markets for diversification purposes, as their current portfolio may be heavily composed of companies or indexes within developed markets such as North American equities.
• The benchmark’s largest holding is Apple AAPL, which received a 23.78% weighting as of the end of 2020.
• In short, investors with strong convictions face a number of considerations when investing in emerging markets.
• How one approaches EM equities may depend on one’s level of conviction and whether one employs a top-down or bottom-up approach.
• For further details on GICS sector, industry group and industry indexes across additional regions and countries, please contact us.

Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. There is not a universally agreed DIY Financial Advisor upon set of inputs for the calculation. At present, availability of input data varies across asset classes and markets. To the extent that data becomes more readily available and more accurate over time, we expect that ITR metric methodologies will evolve and may result in different outputs.

US dollar impacted Brazil, Russia and Taiwan stock markets differently

PORTFOLIO CHARACTERISTICS DEFINITIONS
Active Share is the fraction of the portfolio or fund that is invested differently than its benchmark as of the last day of the reporting period. A portfolio with a high degree of Active Share does not assure a fund’s relative outperformance. Active Share calculation may consolidate holdings with the same economic exposure.

Want to learn more about our indexes?

This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund’s investment strategy, please see the fund’s prospectus. There are many other choices of emerging market ETFs and emerging market mutual funds that track other indexes, such as the FTSI Emerging Markets Index.

International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/ developing markets or in concentrations of single countries. These risks often are heightened for investments in emerging/developing markets or in concentrations of single countries.

It is one of a number of indexes created by MSCI Inc., formerly Morgan Stanley Capital International. Tracking error and information ratio are calculated using the Portfolio’s Blended Index (added October 2, 2013), as this is a better representation of the Portfolio’s global multi-asset strategy. The investment team manages the Portfolio relative to this Blended Index. Growth of Investment illustration is based on an initial investment of $10,000 made since fund inception, assumes reinvestment of dividends and capital gains and application of fees, but does not include sales charges. With an R-squared5 of 0.48, the relation was strong over those 13 years, and the coefficient of the regression suggests that for every 10% the U.S. dollar trade weighted strengthened, Taiwan outperformed a mix of the Russian and Brazilian equity markets by over 17% on average. The U.S.-China trade war may also have an impact on EM currencies, whether directly if a country embarks on currency depreciation or indirectly if the trade war triggers an economic slowdown, which might change the valuation of a country’s currency.

Related content – Emerging markets 2023

From foundational broad market to customized outcome indexes, our time-tested, globally consistent solutions power indexed strategies and products for investors. Our investing insights explore the topics that matter most, whether on climate and ESG, current market trends or global investing and risk management across asset classes. EM’s growing economic size and technological significance are among the biggest forces shaping the global economic landscape. Understanding EM dynamism, specifically when it comes to A shares inclusion, and the configuration and implementation of China in equity portfolios, is critical to understanding the global opportunity set. Carefully consider the Funds’ investment objectives, risk factors, and charges and expenses before investing.

This and other information can be found in the Funds’ prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Renewed worries over China’s property sector this week have dealt a further blow to emerging market assets already pressured by hawkish views from the Federal Reserve that have sent U.S. Since June 2008, these indexes are also based on the MSCI Global Investable Market Indexes Methodology. MSCI Euro and MSCI Pan Euro Indexes, which were subsets of MSCI EMU and MSCI Europe Indexes respectively, transitioned in one phase as of the close of November 30, 2007, to the MSCI EMU Large Cap and MSCI Europe Large Cap Indexes, respectively.

In particular, the weakness or strength of the U.S. dollar historically had implications for countries such as Taiwan, Russia and Brazil. The MSCI Emerging Markets Indexes represent large-, mid-small- cap across Emerging Markets (EM) countries. From just 10 countries in 1988 representing less than 1% of world market capitalization to 24 countries representing 13% of world market capitalization, today the MSCI Emerging Markets Index can be segmented by regions and market segments/sizes. In this section, investors can access announcements that pertain to MSCI indexes, including Market Cap Indexes.

It is also used by emerging market ETFs and mutual funds as a benchmark against which to measure their own performance. The MSCI Emerging Markets Index is re-evaluated and reviewed four times per year – during February, May, August, and November. The reviews are meant to reflect the ongoing changes that occur within the emerging equity markets. During the rebalancing process, both mid and large-cap companies are recalculated. In general, the values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of fair valuation (“the vendor price”).

These countries’ progress will be lumpy and their stock markets’ returns lumpier still. As always, reaping the prospective rewards of an allocation to emerging-markets stocks hinges on investors’ ability to buckle up and sit tight. They have changed dramatically in the past three-plus decades, and the pace of change has only accelerated in recent years. Here, I’ll look at emerging-markets stocks’ long- and short-term performance, the most recent phase in their ongoing evolution, how their makeup may evolve in the future, and what this all might mean with respect to portfolio construction.

On June 8, 2023, MSCI announced the results of the 2023 Global Market Accessibility Review. Following the announcement of the 2023 Annual Market Classification Review, the detailed report of the MSCI 2023 Global Market Accessibility Review now includes the assessment on Nigeria, thereby covering 83 markets. The MSCI Emerging Markets Index is designed to dynamically reflect the evolution of the EM opportunity set and meet investors’ global and regional asset allocation needs. South Africa’s rand was also muted against the dollar ahead of the release of the producer price index (PPI) and other data that will give clues on the health of Africa’s most industrialised economy. Both EM stocks and currencies, down 0.2% on Tuesday, have been pressured in recent days by hawkish signals from the Federal Reserve and other major central banks.

However, if history is any guide, it’s safe to say that country membership and the level of access to previously closed markets will remain in flux. The MSCI Emerging Markets Index reflects the performance of large-cap and medium-cap companies in 25 nations. That is, their economies or some sectors of their economies are seen to be rapidly expanding and engaging aggressively with global markets.

As of December 2021, the MSC Emerging Markets Index recorded a one-year net return of -2.54%, a five-year annualized return of 9.87%, and a 10-year annualized return of 5.49%. Since its inception on Dec. 29, 2000, it has returned an annualized 8.97%. Please note that you are required to read and accept the terms of our Privacy Policy before you are able to access our websites. As a user, you must not sell, copy, publish, distribute, transfer, modify, display, reproduce, and/or create any derivative works from the information or software on this Website. You must not redeliver any of the pages, text, images, or content of this Website using “framing” or similar technology. Systematic retrieval of content from this Website to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) or creating links to this Website is strictly prohibited.