January 18, 2024 Raymond Kerzérho Model Portfolios Team Peter Guay Model Portfolios – December 31, 2023 Published: January 18, 2024 This document provides the performance data for Model Portfolios for December 2023, as compiled by the Peter Guay Team. For illustration purposes only. Actual client portfolios may be different. Sources: Dimensional Returns Web This table is published by PWL Capital Inc. for your information only. Information on which this table is based is available on request. Particular investments or trading strategies should be evaluated relative to each individual’s objectives in consultation with the Investment Advisor. Opinions of PWL Capital constitute its judgment as of the date on this document, and are subject to change without notice. They are provided in good faith but without responsibility for any errors or omissions contained herein. This table is furnished on the basis and understanding that neither PWL Capital Inc. nor its employees, agents or information suppliers is to be under any responsibility of liability whatsoever in respect thereof. Past performance does not guarantee future results. The historical performance of indexes is illustrative only and is not necessarily a reflection of the future performance of any fund tracking that benchmark. Download Team Peter Guay Model Portfolios – December 31, 2023 Conservative Cautious Balanced Assertive Aggressive Model Portfolios Performance Conservative 1-Year Total Return 7.46% 3-Year Annualized Return 1.09% 5-Year Annualized Return 3.39% 10-Year Annualized Return 3.57% 20-Year Annualized Return 4.24% Lowest 1-Year Return (03/2008-02/2009) -8.16% 20-Year Annualized Standard Deviation 4.07% Fund Holdings Conservative Vanguard Canadian Short-Term Bond ETF 50.00% BMO Aggregate Bond 25.00% DFA Global REIT 5.00% DFA Canadian Core Equity 2.00% iShares S&P/TSX Capped Composite ETF 2.00% DFA U.S. Vector Equity 4.00% Vanguard U.S. Total Market ETF 4.00% DFA International Vector Equity 4.00% iShares Core MSCI EAFE IMI ETF 2.80% BMO MSCI Emerging Markets ETF 1.20% Weighted Average Management Expense Ratio 0.15% Model Portfolios Performance Cautious 1-Year Total Return 9.29% 3-Year Annualized Return 2.89% 5-Year Annualized Return 5.12% 10-Year Annualized Return 4.99% 20-Year Annualized Return 5.19% Lowest 1-Year Return (03/2008-02/2009) -16.54% 20-Year Annualized Standard Deviation 6.03% Fund Holdings Cautious Vanguard Canadian Short-Term Bond ETF 36.70% BMO Aggregate Bond 18.30% DFA Global REIT 5.00% DFA Canadian Core Equity 4.00% iShares S&P/TSX Capped Composite ETF 4.00% DFA U.S. Vector Equity 8.00% Vanguard U.S. Total Market ETF 8.00% DFA International Vector Equity 8.00% iShares Core MSCI EAFE IMI ETF 5.60% BMO MSCI Emerging Markets ETF 2.40% Weighted Average Management Expense Ratio 0.19% Model Portfolios Performance Balanced 1-Year Total Return 11.13% 3-Year Annualized Return 4.67% 5-Year Annualized Return 6.80% 10-Year Annualized Return 6.38% 20-Year Annualized Return 6.09% Lowest 1-Year Return (03/2008-02/2009) -24.84% 20-Year Annualized Standard Deviation 8.23% Fund Holdings Balanced Vanguard Canadian Short-Term Bond ETF 23.30% BMO Aggregate Bond 11.70% DFA Global REIT 5.00% DFA Canadian Core Equity 6.00% iShares S&P/TSX Capped Composite ETF 6.00% DFA U.S. Vector Equity 12.00% Vanguard U.S. Total Market ETF 12.00% DFA International Vector Equity 12.00% iShares Core MSCI EAFE IMI ETF 8.40% BMO MSCI Emerging Markets ETF 3.60% Weighted Average Management Expense Ratio 0.23% Model Portfolios Performance Assertive 1-Year Total Return 12.97% 3-Year Annualized Return 6.44% 5-Year Annualized Return 8.43% 10-Year Annualized Return 7.73% 20-Year Annualized Return 6.93% Lowest 1-Year Return (03/2008-02/2009) -32.49% 20-Year Annualized Standard Deviation 10.52% Fund Holdings Assertive Vanguard Canadian Short-Term Bond ETF 10.00% BMO Aggregate Bond 5.00% DFA Global REIT 5.00% DFA Canadian Core Equity 8.00% iShares S&P/TSX Capped Composite ETF 8.00% DFA U.S. Vector Equity 16.00% Vanguard U.S. Total Market ETF 16.00% DFA International Vector Equity 16.00% iShares Core MSCI EAFE IMI ETF 11.20% BMO MSCI Emerging Markets ETF 4.80% Weighted Average Management Expense Ratio 0.26% Model Portfolios Performance Aggressive 1-Year Total Return 14.75% 3-Year Annualized Return 7.95% 5-Year Annualized Return 9.91% 10-Year Annualized Return 8.75% 20-Year Annualized Return 7.55% Lowest 1-Year Return (03/2008-02/2009) -37.35% 20-Year Annualized Standard Deviation 12.27% Fund Holdings Aggressive Vanguard Canadian Short-Term Bond ETF 0.00% BMO Aggregate Bond 0.00% DFA Global REIT 0.00% DFA Canadian Core Equity 10.00% iShares S&P/TSX Capped Composite ETF 10.00% DFA U.S. Vector Equity 20.00% Vanguard U.S. Total Market ETF 20.00% DFA International Vector Equity 20.00% iShares Core MSCI EAFE IMI ETF 14.00% BMO MSCI Emerging Markets ETF 6.00% Weighted Average Management Expense Ratio 0.29%