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US Capital Appreciation
| Year | S&P 500 | Motiwala Capital |
|---|---|---|
| 2020* | 22.16% | 13.87% |
| 2021 | 28.71% | 26.51% |
Notes
- 2020* performance is from the Q3 2020. The same period was used for both Motiwala Capital and S&P 500.
- Motiwala Capital performance for each year is based on the aggregate performance of all client accounts ( existing and new accounts opened during the year at various times.)
- S&P 500 performance includes dividends but does not reflect any fees.
- Motiwala Capital performance is computed on a before-tax time-weighted return (TWR) basis and are net of all paid management fees and brokerage costs.
- Motiwala Capital performance figures are not audited.
- Performance of individual accounts may vary depending upon the timing of their investment, the effects of additions, and the impact of withdrawals from their account.
- Please note that past performance is no guarantee of future results.
Japan Capital Appreciation
| Year | Motiwala Capital | iShares MSCI Japan ETF (EWJ) |
| 2017 | 36.92% | 24.27% |
| 2018 | -6.44% | -14.09% |
| 2019 | 15.6% | 19.33% |
| 2020 | 8.95% | 15.41% |
| 2021 | 1.4% | 1.17% |
| 2022 | -5.5% | -17.7% |
| CAGR | 7.5% | 3.4% |
