Managed Account Research List

For period ending December 31, 2020

Upside/
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down
U.S. Large Cap Equities
Growth
CAmundi Pioneer 10.8 28.2 28.2 20.3 17.7 16.7 28.2 35.2 0.4 -1.0 1.2 16.7 14.3 1.0 1.1 86.1 94.5
SBrown Advisory (ESG) 12.6 40.2 40.2 26.2 22.6 18.7 40.2 36.2 5.3 2.6 2.4 17.6 15.4 1.2 1.2 99.6 81.4
CBrown Advisory 8.1 33.8 33.8 26.2 20.9 16.4 33.8 41.8 5.9 0.8 -0.9 18.4 16.7 1.1 0.9 96.5 90.8
Clearbridge Investments 8.8 31.9 31.9 20.8 19.3 17.9 31.9 33.3 0.3 #N/A #N/A 17.3 15.0 1.0 1.1 #N/A #N/A
SDana Investment Advisors 11.5 32.0 32.0 16.2 16.3 15.0 32.0 32.3 -10.2 -3.7 -2.1 18.5 16.4 0.8 0.9 85.6 108.7
Fiera Capital 10.2 39.7 39.7 23.5 20.8 16.9 39.7 36.3 -1.2 0.6 0.0 17.7 15.8 1.1 1.0 96.6 92.0
Jennison Associates 12.8 56.0 56.0 27.7 23.4 19.2 56.0 33.8 -0.2 0.0 0.2 21.5 18.2 1.0 1.0 106.6 93.6
SLogan Capital Management 14.4 38.3 38.3 23.3 20.8 16.1 38.3 40.7 -3.7 -3.0 -3.6 22.2 19.5 0.9 0.8 106.8 121.1
Montag and Caldwell Investment Counsel (W) ( R 11.6 34.1 34.1 21.3 17.1 14.6 34.1 34.0 -0.6 -1.9 -0.6 17.0 14.3 0.9 1.0 82.5 90.7
Polen Capital Management (C) 10.2 34.7 34.7 26.8 21.5 18.5 34.7 38.8 9.0 1.5 2.6 17.8 15.2 1.1 1.2 97.3 86.4
Voya Asset Management 13.0 32.0 32.0 20.5 19.0 16.8 32.0 33.6 -0.8 -0.3 0.3 17.2 15.3 1.0 1.0 91.1 95.1
Wedgewood Partners 12.4 33.2 33.2 19.6 17.0 14.5 33.2 32.9 -3.3 -3.4 -2.1 18.6 16.1 0.8 0.9 86.2 103.5
Russell 1000 Growth Index 11.4 38.5 38.5 23.0 21.0 17.2 38.5 36.4 -1.5 18.5 15.9 1.0 1.0
Core
SAtalanta Sosnoff Management 11.6 21.2 21.2 15.2 15.5 12.8 21.2 29.1 -2.2 0.3 -1.1 17.4 15.8 0.8 0.8 96.6 93.4
SBahl & Gaynor Large Cap Quality Growth 10.8 10.8 10.8 13.9 15.3 13.0 10.8 35.3 -1.4 1.8 0.7 15.3 13.6 0.9 0.9 92.2 85.9
SCapital Group 8.4 16.5 16.5 14.8 15.5 13.0 16.5 32.9 -2.2 2.9 1.1 13.7 13.2 1.0 0.9 88.0 74.4
SDana Investment Advisors 11.3 13.4 13.4 12.1 14.2 13.6 13.4 36.1 -8.7 -1.1 -0.5 17.7 15.7 0.7 0.8 95.6 104.2
John Hancock 14.2 20.3 20.3 12.8 14.1 14.1 20.3 36.9 -12.9 -3.9 -1.6 21.9 18.2 0.6 0.7 104.3 122.1
Kovitz Investment Group 19.3 16.1 16.1 10.1 13.7 12.4 16.1 27.8 -10.0 -3.0 -2.2 20.8 17.3 0.6 0.7 103.9 124.3
Madison Investment Advisors (W) 11.7 15.0 15.0 15.1 16.5 14.0 15.0 31.7 0.6 2.7 1.8 15.5 13.5 1.0 1.0 97.8 86.6
SaratogaRIM (Cash Unconstrained) 5.8 11.1 11.1 9.6 10.6 10.0 11.1 18.0 0.4 2.4 2.5 8.7 8.2 1.1 1.1 57.5 48.2
SaratogaRIM (Cash Constrained) 9.3 16.7 16.7 14.4 16.5 -- 16.7 27.7 0.4 4.3 -- 13.7 -- 1.1 -- 93.5 76.8
Thornburg Investment Management (W) ( R ) 17.1 13.3 13.3 9.8 12.3 11.5 13.3 28.1 -8.9 -4.5 -4.0 20.5 18.6 0.5 0.6 97.5 124.5
Trillium Asset Management (ESG) 12.5 20.0 20.0 16.6 15.5 -- 20.0 31.3 0.6 0.5 -- 17.0 -- 0.8 -- 95.9 92.0
Russell 1000 Index 13.7 21.0 21.0 14.8 15.6 14.0 21.0 31.4 -4.8 17.5 15.4 0.8 0.9
Value
SAllianz Global Investors 10.6 -0.4 -0.4 4.2 8.8 9.4 -0.4 25.0 -9.2 -0.3 -0.4 16.8 14.9 0.4 0.6 92.9 97.0
Aristotle Capital Management 15.8 15.3 15.3 12.2 15.3 -- 15.3 33.5 -8.3 5.2 -- 18.1 16.0 0.8 0.8 124.0 91.0
C.S. McKee 17.6 4.1 4.1 6.2 9.6 9.6 4.1 26.9 -9.4 -0.8 -1.3 20.1 17.1 0.4 0.5 106.7 110.0
Cambiar Investors -- -- -- -- -- -- -- 32.0 -12.3 -- -- -- -- -- -- -- --
Columbia Management 17.0 6.4 6.4 6.2 11.9 -- 6.4 26.8 -11.3 1.2 -- 20.4 -- 0.5 -- 119.7 110.7
Davis Advisors 18.9 15.1 15.1 10.2 12.9 11.7 15.1 33.4 -12.9 2.4 1.0 20.1 16.7 0.6 0.7 121.3 105.5
CDelaware Investments 14.8 0.4 0.4 5.7 9.3 11.8 0.4 20.2 -2.1 0.0 2.0 17.3 14.9 0.5 0.7 92.9 93.6
Hamlin Equity Income 15.2 6.4 6.4 6.9 10.6 11.5 6.4 22.6 -6.3 1.3 1.8 17.0 14.8 0.5 0.7 98.5 91.2
JPMorgan Equity Income 13.2 4.3 4.3 8.5 11.9 12.6 4.3 27.3 -3.8 2.7 3.0 16.0 13.9 0.7 0.9 103.2 88.0
Levin Easterly Partners 20.5 8.1 8.1 4.3 9.2 10.6 8.1 14.4 -8.2 -1.4 -1.0 21.8 19.0 0.4 0.5 105.9 112.1
Levin Easterly Partners Taxable 19.5 12.0 12.0 4.8 9.3 11.9 12.0 14.4 -10.2 -1.2 0.3 22.1 19.2 0.4 0.6 105.3 110.4
SMarshfield Associates 8.8 16.3 16.3 18.3 19.6 14.9 16.3 38.1 3.0 11.2 6.0 14.7 13.9 1.2 1.0 125.5 57.4
NWQ Investment Management 18.1 -1.2 -1.2 3.2 7.8 7.1 -1.2 29.4 -14.1 -2.9 -4.1 21.5 18.4 0.3 0.4 105.1 121.2
Poplar Forest Capital 23.3 -0.4 -0.4 0.2 6.7 9.3 -0.4 22.5 -17.6 -4.7 -3.2 24.7 21.3 0.2 0.4 111.4 135.5
Snow Capital Management 26.2 3.9 3.9 5.2 11.3 8.7 3.9 31.0 -14.4 0.0 -3.6 23.1 21.3 0.4 0.4 124.9 120.8
Wells Fargo Funds Management (W) ( R ) 14.8 6.5 6.5 9.8 10.9 11.3 6.5 30.4 -4.7 1.4 1.2 17.5 15.4 0.5 0.7 102.5 94.5
Westwood Management Corp. (W) 13.6 3.8 3.8 8.0 11.4 11.5 3.8 28.2 -5.3 2.4 1.7 15.8 14.7 0.6 0.7 100.7 88.1
Russell 1000 Value Index 16.3 2.8 2.8 6.1 9.7 10.5 2.8 26.5 -8.3 17.8 15.8 0.5 0.6
U.S. Mid Cap Equities
Growth
Congress Asset Management 17.9 32.0 32.0 20.1 18.3 16.4 32.0 35.8 -3.5 1.5 2.8 19.2 16.8 0.9 0.9 93.4 87.7
D.F. Dent & Company 15.6 31.9 31.9 23.3 21.2 17.7 31.9 41.3 0.6 4.5 3.9 18.7 17.2 1.0 1.0 100.4 78.7
Janus Henderson 20.1 21.5 21.5 18.2 18.7 15.5 21.5 35.5 0.5 1.4 1.7 20.0 17.2 0.9 0.9 99.6 98.9
Russell Midcap Growth Index 19.0 35.6 35.6 20.5 18.7 15.0 35.6 35.5 -4.8 21.2 18.5 0.8 0.8
Core
Madison Investment Advisors 16.0 10.5 10.5 13.9 14.4 13.7 10.5 35.3 -1.1 3.1 3.1 17.1 15.5 0.8 0.8 94.0 82.8
SouthernSun Asset Management (W) ( R ) 26.1 15.0 15.0 6.1 9.6 10.0 15.0 31.6 -21.1 -5.5 -4.4 27.7 24.3 0.3 0.4 108.9 136.0
Boston Trust Walden Company (ESG) 15.7 10.1 10.1 11.6 13.8 12.3 10.1 29.4 -2.5 3.6 2.9 17.4 15.6 0.7 0.7 89.8 75.4
Russell Midcap Index 19.9 17.1 17.1 11.6 13.4 12.4 17.1 30.5 -9.1 21.2 18.3 0.6 0.6

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's
(W) denotes a portfolio is on the Watch List. composite performance as reported to Infroma Investment Solutions or RBC Wealth Management.
(C) denotes a portfolio is on the Closed List. Return information is deemed reliable, but has not been independently verified by RBC Wealth Based on calendar
(R) denotes a portfolio is on the Restricted List. Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%
Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management |4|
Managed Account Research List
For period ending December 31, 2020
Upside/
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

U.S. Mid Cap Equities cont.

Value
Anchor Capital Advisors 13.3 2.8 2.8 9.2 11.0 10.3 2.8 30.2 -2.6 2.4 1.8 17.5 14.5 0.5 0.7 90.5 80.0
Hahn Capital Management 25.7 7.6 7.6 8.6 11.1 11.8 7.6 36.2 -12.6 1.3 1.1 22.3 19.9 0.4 0.6 103.1 95.4
Russell Midcap Value Index 20.4 5.0 5.0 5.4 9.7 10.5 5.0 27.1 -12.3 21.6 18.5 0.4 0.5

U.S. Small-Mid Cap Equities

Growth
Fiera Capital 23.1 45.0 45.0 20.6 18.4 15.5 45.0 32.6 -8.6 -0.1 0.6 24.8 21.8 0.7 0.7 101.2 103.5
Riverbridge Partners (C) 20.1 47.9 47.9 25.6 22.1 17.4 47.9 33.3 0.4 6.1 5.3 20.3 16.9 1.0 1.0 94.5 68.3
Russell 2500 Growth Index 25.9 40.5 40.5 19.9 18.7 15.0 40.5 32.7 -7.5 24.7 21.3 0.7 0.7
Core
Bahl & Gaynor 17.4 5.7 5.7 7.8 12.8 -- 5.7 24.3 -4.7 2.1 -- 18.4 -- 0.6 -- 84.0 81.3
Boston Trust Walden Company (ESG) 18.2 9.8 9.8 10.1 14.0 11.7 9.8 27.6 -4.6 3.1 1.4 18.7 17.4 0.7 0.6 94.2 81.4
Delaware Investments 26.4 13.1 13.1 9.2 12.2 -- 13.1 30.0 -11.4 -1.0 -- 23.9 -- 0.5 -- 95.1 101.6
Edge Asset Management no MLPs 24.7 -3.8 -3.8 2.2 9.5 10.4 -3.8 26.2 -12.2 0.4 1.6 23.6 19.6 0.3 0.5 98.6 98.4
Eagle Asset Management 25.4 26.3 26.3 15.9 17.7 12.7 26.3 33.6 -7.6 5.0 1.7 20.9 18.8 0.8 0.6 103.7 81.2
Kayne Anderson Rudnick 16.7 36.9 36.9 22.5 20.8 16.5 36.9 41.6 -5.2 9.1 6.6 19.4 16.8 1.0 0.9 105.0 62.5
Trillium Asset Management (ESG) 24.7 18.8 18.8 10.2 13.5 -- 18.8 26.8 -11.1 0.5 -- 22.7 -- 0.5 -- 95.5 94.7
Russell 2500 Value Index 28.5 4.9 4.9 4.3 9.4 9.3 4.9 23.6 -12.4 24.6 20.8 0.3 0.4
Russell 2500 Index 27.4 20.0 20.0 11.3 13.6 12.0 20.0 27.8 -10.0 24.3 20.8 0.5 0.5
Value
Westwood Management Corp. (W) 23.4 7.0 7.0 7.7 9.4 9.5 7.0 30.6 -10.5 0.7 0.7 21.8 19.6 0.4 0.5 90.4 89.3
Russell 2500 Value Index 28.5 4.9 4.9 4.3 9.4 9.3 4.9 23.6 -12.4 24.6 20.8 0.3 0.4

U.S. Small Cap Equities

Growth
Alger Management -- -- -- -- -- -- -- 26.2 14.7 -- -- -- -- -- -- -- --
Bahl & Gaynor 18.2 13.4 13.4 8.7 13.6 12.6 13.4 26.4 -10.3 1.5 2.2 18.9 17.1 0.6 0.7 72.9 73.2
Copeland Capital Dividend Growth 21.1 6.9 6.9 10.0 12.9 13.9 6.9 30.0 -4.1 2.2 4.7 19.5 17.2 0.6 0.8 81.4 75.4
Conestoga Capital 25.1 32.0 32.0 19.6 20.8 16.6 32.0 27.2 2.0 6.4 4.7 21.9 19.7 0.9 0.8 103.8 82.4
RBC Global Asset Management**** 27.0 24.5 24.5 16.2 15.2 14.4 24.5 30.5 -3.5 0.6 2.5 22.9 19.3 0.6 0.7 86.5 86.7
Riverbridge Partners (C) 26.1 55.1 55.1 29.1 25.0 18.0 55.1 28.3 8.2 9.3 5.7 23.3 19.9 1.0 0.9 112.7 73.3
Russell 2000 Growth Index 29.6 34.6 34.6 16.2 16.4 13.5 34.6 28.5 -9.3 25.8 22.4 0.6 0.6
Russell 2500 Index 27.4 20.0 20.0 11.3 13.6 12.0 20.0 27.8 -10.0 24.3 20.8 0.5 0.5
Core
Dana Investment Advisors 28.6 13.6 13.6 5.9 8.5 11.3 13.6 23.4 -15.3 -4.3 0.2 26.6 22.4 0.3 0.5 92.5 115.3
RBC Global Asset Management**** 24.6 9.0 9.0 1.4 8.2 9.2 9.0 25.9 -23.9 -4.6 -1.9 27.6 23.2 0.3 0.4 88.4 111.9
Wells Fargo PMV 30.9 16.4 16.4 9.1 13.0 11.3 16.4 23.1 -9.4 -0.3 0.2 26.7 22.5 0.4 0.5 97.6 98.1
Russell 2000 Index 31.4 20.0 20.0 10.3 13.3 11.2 20.0 25.5 -11.0 25.7 22.0 0.5 0.5
Value
Columbia Management 24.6 10.2 10.2 5.5 9.0 9.2 10.2 19.0 -10.5 -- -- 25.1 22.7 0.3 0.4 -- --
Snow Capital Management 43.4 24.2 24.2 6.4 9.9 10.0 24.2 19.3 -18.8 -0.5 0.5 33.1 27.9 0.3 0.3 124.4 122.6
Westwood Management Corp. 26.4 2.8 2.8 4.6 11.1 11.9 2.8 28.6 -13.5 1.9 3.4 24.5 21.6 0.4 0.5 100.3 93.0
Russell 2000 Value Index 33.4 4.6 4.6 3.7 9.7 8.7 4.6 22.4 -12.9 26.5 22.3 0.3 0.4

U.S. Multi Cap Equities

Growth
ClearBridge Investments 20.3 24.4 24.4 12.9 13.8 13.9 24.4 25.9 -8.2 -3.9 -2.2 18.2 17.4 0.7 0.8 78.7 111.8
J.P. Morgan Growth Advantage 15.5 53.7 53.7 28.5 24.5 20.1 53.7 37.4 0.4 1.7 0.9 21.0 18.8 1.1 1.0 112.8 96.1
Riverbridge Partners 14.0 45.6 45.6 26.1 21.8 17.1 45.6 31.1 5.1 2.7 1.8 17.5 15.1 1.2 1.1 97.2 79.7
Russell 3000 Growth Index 12.4 38.3 38.3 22.5 20.7 16.9 38.3 35.9 -2.1 18.8 16.2 1.0 1.0

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's
(W) denotes a portfolio is on the Watch List. composite performance as reported to Infroma Investment Solutions or RBC Wealth Management.
(C) denotes a portfolio is on the Closed List. Return information is deemed reliable, but has not been independently verified by RBC Wealth Based on calendar
(R) denotes a portfolio is on the Restricted List. Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 6 |
Managed Account Research List
For period ending December 31, 2020
Upside/
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

U.S. Multi Cap Equities Cont.

Core
Lazard Asset Management 10.2 9.6 9.6 11.2 11.7 13.8 9.6 32.6 -5.4 -1.5 1.5 16.1 14.4 0.6 0.9 79.3 90.9
S Neuberger Berman 8.2 27.8 27.8 16.6 16.3 11.9 27.8 26.5 -2.0 3.2 0.3 15.5 14.1 1.0 0.8 91.2 72.4
Segall Bryant Hamill 13.0 27.1 27.1 16.9 15.6 13.6 27.1 31.8 -4.7 0.6 0.7 17.5 15.1 0.8 0.9 94.5 87.2
Trillium Asset Management Core (ESG) 14.2 20.1 20.1 15.1 14.7 -- 20.1 29.5 -2.0 -0.2 -- 17.5 -- 0.8 -- 93.5 93.1
Trillium Asset Management FFFC (ESG) 13.9 20.5 20.5 15.7 14.7 13.5 20.5 31.1 -1.9 0.1 0.6 17.1 14.9 0.8 0.9 91.8 89.7
Russell 3000 Index 14.7 20.9 20.9 14.5 15.4 13.8 20.9 31.0 -5.2 17.9 15.7 0.8 0.8
Value
Brandes Investment Partners 21.5 9.3 9.3 7.7 11.5 12.1 9.3 23.1 -7.2 1.8 1.6 18.1 16.4 0.6 0.7 103.5 91.7
Equity Investment Corporation 15.2 4.6 4.6 6.3 9.3 9.7 4.6 22.8 -6.5 0.4 1.1 16.0 13.2 0.5 0.7 88.3 86.8
James Capital Alliance -- -- -- -- -- -- -- 28.1 -11.5 -- -- -- -- -- -- -- --
Kovitz Investment Group 18.8 12.2 12.2 9.5 12.9 11.7 12.2 28.3 -9.0 -- -- 19.4 17.5 0.6 0.6 -- --
Minneapolis Portfolio Management Group 18.8 18.4 18.4 8.6 14.6 10.5 18.4 22.6 -11.8 4.5 -0.2 20.0 18.6 0.7 0.5 127.5 101.7
Snow Capital Management 22.2 10.3 10.3 4.4 8.7 8.7 10.3 26.5 -18.4 -2.4 -3.7 23.8 21.9 0.3 0.4 115.5 126.4
Westwood Management Corp. (W) 18.9 8.8 8.8 8.2 11.3 11.0 8.8 29.0 -9.7 1.7 0.6 17.9 16.5 0.6 0.6 106.0 96.9
Russell 3000 Value Index 17.2 2.9 2.9 5.9 9.7 10.4 2.9 26.3 -8.6 18.3 16.2 0.5 0.6

Responsible Investing (ESG)

Large Cap Growth
Brown Advisory (ESG) 12.6 40.2 40.2 26.2 22.6 18.7 40.2 36.2 5.3 2.6 2.4 17.6 15.4 1.2 1.2 99.6 81.4
Russell 1000 Growth Index 11.4 38.5 38.5 23.0 21.0 17.2 38.5 36.4 -1.5 18.5 15.9 1.0 1.0
Large Cap Core
Trillium Asset Management (ESG) 12.5 20.0 20.0 16.6 15.5 -- 20.0 31.3 0.6 0.5 -- 17.0 -- 0.8 -- 95.9 92.0
Russell 1000 Index 13.7 21.0 21.0 14.8 15.6 14.0 21.0 31.4 -4.8 17.5 15.4 0.8 0.9
Mid Cap Core
Boston Trust Walden Company (ESG) 15.7 10.1 10.1 11.6 13.8 12.3 10.1 29.4 -2.5 3.6 2.9 17.4 15.6 0.7 0.7 89.8 75.4
Russell Midcap Index 19.9 17.1 17.1 11.6 13.4 12.4 17.1 30.5 -9.1 21.2 18.3 0.6 0.6
Small-Mid Cap Core
Trillium Asset Management (ESG) 24.7 18.8 18.8 10.2 13.5 -- 18.8 26.8 -11.1 0.5 -- 22.7 -- 0.5 -- 95.5 94.7
Boston Trust Walden Company (ESG) 18.2 9.8 9.8 10.1 14.0 11.7 9.8 27.6 -4.6 3.1 1.4 18.7 17.4 0.7 0.6 94.2 81.4
Russell 2500 Index 27.4 20.0 20.0 11.3 13.6 12.0 20.0 27.8 -10.0 24.3 20.8 0.5 0.5
Multi Cap Core
Trillium Asset Management Core (ESG) 14.2 20.1 20.1 15.1 14.7 -- 20.1 29.5 -2.0 -0.2 -- 17.5 -- 0.8 -- 93.5 93.1
Trillium Asset Management FFFC (ESG) 13.9 20.5 20.5 15.7 14.7 13.5 20.5 31.1 -1.9 0.1 0.6 17.1 14.9 0.8 0.9 91.8 89.7
Russell 3000 Index 14.7 20.9 20.9 14.5 15.4 13.8 20.9 31.0 -5.2 17.9 15.7 0.8 0.8
Global Equity
Rockefeller Capital Management (ESG) 15.7 15.6 15.6 9.0 11.8 10.7 15.6 22.9 -8.9 -0.7 0.3 18.0 16.2 0.6 0.6 102.7 108.1
MSCI World Index Growth 12.6 34.2 34.2 19.0 17.4 13.2 34.2 34.1 -6.4 18.0 15.8 0.9 0.8

(W) denotes a portfolio is on the Watch List.

(C) denotes a portfolio is on the Closed List. Based on calendar
(R) denotes a portfolio is on the Restricted List. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%
****Only non-ERISA Accounts (no IRAs) For financial advisor use only. Do not distribute to the public.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 8 |
Managed Account Research List
For period ending December 31, 2020
Upside/
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Equity Income
Capital Group World Dividend Growers 13.0 8.2 8.2 8.0 10.3 -- 8.2 25.3 -7.0 4.1 -- 14.0 -- 0.6 -- 99.9 73.6
Blackrock Equity Dividend 17.0 4.0 4.0 7.5 10.9 10.8 4.0 27.7 -6.6 1.4 1.1 17.3 14.6 0.6 0.7 102.6 94.6
Blackrock Global Dividend 11.4 7.2 7.2 6.4 9.0 9.4 7.2 23.3 -8.9 2.1 3.3 14.8 12.1 0.5 0.7 92.1 80.5
Epoch Global Equity Yield 11.8 -0.5 -0.5 3.5 7.2 8.1 -0.5 21.9 -8.6 0.8 2.5 15.5 12.7 0.4 0.6 91.7 89.2
Federated Int'l Strat. Value Div 9.3 -6.9 -6.9 1.1 5.6 8.9 -6.9 20.4 -7.9 -1.8 2.1 14.8 11.9 0.3 0.7 69.7 87.9
Federated U.S. Strat. Value Div 8.3 -2.4 -2.4 1.7 4.6 5.0 -2.4 22.8 -12.1 1.4 2.4 13.3 12.5 0.3 0.4 57.2 47.3
The London Company 7.6 8.6 8.6 10.9 11.8 13.1 8.6 28.5 -2.3 3.3 4.7 15.4 12.7 0.7 1.0 98.9 81.7
Logan Capital Mgmt. Concentrated 16.4 -10.4 -10.4 -0.1 6.4 9.3 -10.4 20.3 -7.4 -2.4 0.6 17.2 14.6 0.3 0.6 80.6 98.3
Miller/Howard (with MLPs) 18.5 5.0 5.0 6.0 8.8 9.1 5.0 22.9 -7.8 -1.0 -0.6 18.8 15.7 0.4 0.5 95.4 100.9
Miller/Howard (No MLPs) 18.7 5.6 5.6 6.1 10.0 9.8 5.6 23.5 -8.3 0.1 0.1 18.9 15.7 0.5 0.6 102.3 101.3
PAG Prime Income (ETF) 9.6 -3.3 -3.3 4.2 9.1 -- -3.3 18.4 -1.4 0.9 -- 13.5 -- 0.6 -- 78.1 76.8
PAG Prime Income (MLP) 9.4 -3.6 -3.6 4.5 9.4 -- -3.6 19.5 -0.9 1.2 -- 13.5 -- 0.6 -- 79.6 76.3
Schafer Cullen Global High Dividend ADR 14.5 -1.3 -1.3 3.8 7.1 8.7 -1.3 24.2 -8.7 0.0 2.4 15.2 12.6 0.4 0.6 81.0 81.1
Schafer Cullen High Dividend Value 12.8 -2.0 -2.0 4.7 8.6 10.4 -2.0 21.1 -3.3 -0.2 1.9 15.9 13.1 0.5 0.7 85.6 88.1
Schafer Cullen Intl High Div Value ADR 15.4 2.9 2.9 2.6 5.9 4.9 2.9 22.9 -14.5 1.5 1.3 16.0 14.4 0.3 0.3 82.0 72.0
Zacks Investment Management 12.1 0.2 0.2 6.4 10.6 12.2 0.2 26.4 -4.9 1.9 2.8 15.1 13.8 0.6 0.8 94.9 85.6
Russell 1000 Value Index 16.3 2.8 2.8 6.1 9.7 10.5 2.8 26.5 -8.3 17.8 15.8 0.5 0.6
MSCI EAFE Index 16.1 7.8 7.8 4.3 7.5 5.5 7.8 22.0 -13.8 17.1 15.8 0.4 0.3
MSCI World Index 14.0 15.9 15.9 10.5 12.2 9.9 15.9 27.7 -8.7 17.0 15.1 0.6 0.6

Dividend Growth
S Bahl & Gaynor Income Growth 10.6 7.4 7.4 10.5 12.9 12.7 7.4 26.9 -1.2 0.4 2.0 14.2 12.2 0.8 1.0 82.3 87.2
S Bahl & Gaynor Large Cap Quality Growth 10.8 10.8 10.8 13.9 15.3 13.0 10.8 35.3 -1.4 1.8 0.7 15.3 13.6 0.9 0.9 92.2 85.9
RBC PAG Dividend Growth 11.7 9.7 9.7 11.0 14.2 12.4 9.7 30.8 -4.6 -0.2 0.2 16.6 13.7 0.8 0.9 100.0 109.5
Santa Barbara Asset Management (W) 10.4 10.9 10.9 12.4 14.1 12.7 10.9 32.8 -3.5 1.0 0.7 14.7 13.3 0.9 0.9 90.1 92.9
Russell 1000 Index 13.7 21.0 21.0 14.8 15.6 14.0 21.0 31.4 -4.8 17.5 15.4 0.8 0.9

U.S. and Global Balanced

U.S.
NWQ Investment Management 10.8 5.1 5.1 5.4 7.4 6.3 5.1 22.2 -8.8 -2.2 -3.2 13.2 11.3 0.5 0.5 106.8 129.2
Anchor Capital Advisors 10.0 4.2 4.2 5.5 7.2 7.4 4.2 16.5 -3.3 -1.5 -0.7 11.7 9.5 0.5 0.7 97.9 113.3
60 / 40 R1000V / BarCap Govt.-Credit 10.1 7.1 7.1 6.8 8.3 8.4 7.1 19.7 -4.9 10.6 9.2 0.7 0.8
Global
Brandes Investment Partners 14.2 1.0 1.0 -0.1 3.9 4.3 1.0 9.8 -10.0 -4.5 -2.7 12.6 11.3 0.2 0.3 45.1 73.3
60 / 40 MSCI World / BarCap Govt.-Credit 9.1 14.9 14.9 9.1 9.7 7.5 14.9 19.8 -5.6 10.4 9.0 0.8 0.8

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's
(W) denotes a portfolio is on the Watch List. composite performance as reported to Infroma Investment Solutions or RBC Wealth Management.
(C) denotes a portfolio is on the Closed List. Return information is deemed reliable, but has not been independently verified by RBC Wealth Based on calendar
(R) denotes a portfolio is on the Restricted List. Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%
****Only non-ERISA Accounts (no IRAs)
For financial advisor use only. Do not distribute to the public.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 10 |
Managed Account Research List
For period ending December 31, 2020
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Global, International, and Emerging Markets Equities

Global Growth
Harding Loevner 15.4 32.0 32.0 15.5 16.7 12.0 32.0 28.2 -9.1 -1.1 -1.5 18.9 16.6 0.8 0.7 99.0 104.8
Polen Capital Management 8.4 25.4 25.4 21.3 19.1 -- 25.4 37.3 3.5 3.5 -- 16.0 -- 1.1 -- 101.7 86.6
Rockefeller Capital Management (ESG) 15.7 15.6 15.6 9.0 11.8 10.7 15.6 22.9 -8.9 -0.7 0.3 18.0 16.2 0.6 0.6 102.7 108.1
MSCI World Index 14.0 15.9 15.9 10.5 12.2 9.9 15.9 27.7 -8.7 17.0 15.1 0.6 0.6
MSCI World Index Growth 12.6 34.2 34.2 19.0 17.4 13.2 34.2 34.1 -6.4 18.0 15.8 0.9 0.8
Global Core
Capital Group 12.9 14.9 14.9 12.8 14.2 11.3 14.9 31.6 -5.1 2.6 1.9 15.9 14.3 0.8 0.7 102.5 86.2
MSCI World Index 14.0 15.9 15.9 10.5 12.2 9.9 15.9 27.7 -8.7 17.0 15.1 0.6 0.6
Global Value
Brandes Investment Partners 21.3 1.7 1.7 2.0 6.2 6.8 1.7 16.8 -10.6 -1.1 -0.1 18.9 16.1 0.3 0.4 92.4 98.0
Lazard Asset Management 12.1 17.1 17.1 11.7 13.2 11.3 17.1 26.3 -5.9 6.0 4.4 15.4 14.0 0.8 0.8 111.2 72.5
MSCI World Index 14.0 15.9 15.9 10.5 12.2 9.9 15.9 27.7 -8.7 17.0 15.1 0.6 0.6
MSCI World Value Index 15.7 -1.2 -1.2 2.4 7.2 6.8 -1.2 21.8 -10.8 17.3 15.2 0.3 0.4
Emerging Markets
Lazard Asset Management 19.7 -2.2 -2.2 -1.2 9.6 2.7 -2.2 19.3 -17.4 -3.0 -1.0 21.0 19.6 0.4 0.1 96.3 119.5
Brandes Investment Partners 24.2 -6.8 -6.8 -3.1 8.1 -- -6.8 15.2 -15.3 -4.5 -- 22.3 -- 0.3 -- 88.4 117.8
MSCI Emerging Markets 19.8 18.7 18.7 6.6 13.2 4.0 18.7 18.9 -14.3 19.6 18.7 0.6 0.2
International Growth
Eagle Global Advisors 16.8 20.1 20.1 6.9 8.0 6.0 20.1 27.0 -19.9 -3.7 -2.2 19.2 17.3 0.4 0.3 93.8 116.0
Madison Investment Advisors 17.2 19.5 19.5 9.6 13.5 7.6 19.5 32.0 -16.5 4.5 1.0 19.8 19.1 0.6 0.4 140.9 107.7
Harding Loevner 15.2 21.1 21.1 9.1 11.9 7.9 21.1 23.6 -13.4 0.2 -0.3 18.2 16.6 0.6 0.4 108.0 104.4
INVESCO Managed Accounts 13.2 9.8 9.8 6.0 7.2 6.2 9.8 27.0 -14.5 -3.2 -1.1 17.6 15.6 0.3 0.4 86.0 107.5
Renaissance Investment Management 19.9 11.1 11.1 2.4 6.3 5.6 11.1 19.5 -19.2 -2.5 -0.9 20.8 18.6 0.2 0.3 111.2 129.0
SWCM Investment Management (C) 17.3 34.0 34.0 19.8 18.4 12.9 34.0 37.1 -6.4 6.0 4.6 18.5 16.3 0.9 0.8 132.5 86.4
MSCI EAFE Index 16.1 7.8 7.8 4.3 7.5 5.5 7.8 22.0 -13.8 17.1 15.8 0.4 0.3
MSCI EAFE Growth Index 13.1 18.3 18.3 9.7 10.5 7.5 18.3 27.9 -12.8 16.4 15.4 0.6 0.4
International Core
Capital Group 12.2 16.4 16.4 10.4 11.7 8.2 16.4 28.6 -10.0 4.6 3.0 15.8 14.4 0.7 0.5 111.9 79.5
RBC PAG ADR 13.4 -0.4 -0.4 1.4 4.9 -- -0.4 21.6 -14.0 -2.2 -- 18.8 -- 0.2 -- 89.5 104.6
SThornburg Investment Mgmt 13.7 22.1 22.1 6.8 8.1 5.2 22.1 29.9 -23.1 0.3 -0.4 19.4 17.5 0.3 0.3 117.1 117.0
MSCI EAFE Index 16.1 7.8 7.8 4.3 7.5 5.5 7.8 22.0 -13.8 17.1 15.8 0.4 0.3
International Value
Aristotle Capital Management 19.2 9.4 9.4 7.2 8.9 -- 9.4 22.9 -8.4 4.2 -- 18.6 -- 0.4 -- 107.1 78.9
Brandes Investment Partners 20.4 -2.6 -2.6 -0.5 4.5 4.3 -2.6 12.6 -10.2 0.4 1.0 18.9 16.7 0.2 0.2 86.9 84.4
Cambiar Investors (W) 13.1 2.0 2.0 0.7 4.5 5.9 2.0 21.2 -17.4 -0.1 2.1 18.1 16.4 0.2 0.3 94.3 96.6
Lazard Asset Management 14.6 10.6 10.6 5.4 7.4 7.4 10.6 20.6 -12.2 3.5 4.2 17.7 15.9 0.3 0.4 101.5 79.1
Lazard Asset Management w/ EM 15.1 10.5 10.5 4.6 8.0 6.4 10.5 20.6 -14.1 4.1 3.2 17.6 16.1 0.4 0.4 103.2 76.3
MSCI EAFE Index 16.1 7.8 7.8 4.3 7.5 5.5 7.8 22.0 -13.8 17.1 15.8 0.4 0.3
MSCI EAFE Value Index 19.2 -2.6 -2.6 -1.2 4.2 3.4 -2.6 16.1 -14.8 18.8 16.9 0.2 0.2

(W) denotes a portfolio is on the Watch List. Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's
(C) denotes a portfolio is on the Closed List. composite performance as reported to Infroma Investment Solutions or RBC Wealth
Based on calendar
(R) denotes a portfolio is on the Restricted List. Management. Return information is deemed reliable, but has not been independently verified by
quarter returns
(CP) denotes a portfolio that may contain complex components. RBC Wealth Management.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

For financial advisor use only. Do not distribute to the public.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 12 |
Managed Account Research List
For period ending December 31, 2020
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Real Estate Investment Trusts

Chilton Capital Management 5.1 -2.9 -2.9 5.5 6.8 11.1 -2.9 30.9 -7.6 3.9 4.4 14.5 14.4 0.4 0.7 101.4 70.9
Cohen & Steers Total Realty 9.1 -1.9 -1.9 8.6 8.1 10.4 -1.9 35.1 -3.3 -- -- 16.5 15.7 0.4 0.6 -- --
INVESCO Managed Accounts 4.6 -9.9 -9.9 3.6 5.5 8.7 -9.9 29.2 -4.5 -0.8 0.0 16.1 15.0 0.3 0.5 88.4 94.2
FTSE NAREIT Equity REITs 8.2 -5.1 -5.1 5.3 6.6 9.2 -5.1 28.7 -4.4 16.4 15.4 0.3 0.6

Trailing Period Returns (%) Annualized Annualized Annualized Downside

Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Master Ltd. Partnerships

Miller Howard ( R) 24.9 -32.4 -32.4 -12.0 -7.0 -1.9 -32.4 11.1 -9.1 -4.2 -0.9 32.7 26.8 -0.2 -0.1 75.6 91.5
Alerian MLP 30.5 -27.2 -27.2 -12.1 -5.5 -2.1 -27.2 6.6 -12.4 40.7 31.7 -0.2 -0.1

Trailing Period Returns (%) Information Annualized Worst

Worst 4 Quarters
Actual Annualized Calendar Year Returns (%) Ratio Std. Deviation Quarter
Last
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr

Fixed Income
Investment Grade Taxable
BlackRock Short 0.3 3.6 3.6 3.3 2.4 1.8 3.6 4.5 1.7 0.3 0.4 1.1 1.0 -0.4 -0.5 0.5 0.5
Barclays 1-3 Year Gov't-Credit 0.2 3.3 3.3 3.0 2.2 1.6 3.3 4.0 1.6 1.1 0.9 -0.4 -0.4 0.6 0.2
BlackRock Intermediate 0.4 5.5 5.5 4.4 3.5 3.0 5.5 6.8 1.0 -0.2 -0.2 2.3 2.1 -1.9 -1.9 -0.8 -0.8
Cincinnati Asset Mgmt 1.9 8.7 8.7 6.5 5.8 5.4 8.7 12.8 -1.5 0.8 -0.2 5.3 4.6 -3.6 -3.9 -2.4 -2.4
Delaware Investments Int. Agg. -0.1 5.7 5.7 4.3 3.2 2.8 5.7 6.3 0.9 -0.7 -0.4 2.6 2.4 -2.4 -2.4 -2.1 -2.1
Madison Investment Advisors HQ Int. Gov't/Corp 0.2 5.0 5.0 3.8 2.8 2.3 5.0 5.0 1.4 -1.2 -1.0 1.9 1.7 -1.3 -1.3 -0.4 -0.5
Madison Investment Advisors IG Int. Gov't/Corp 0.5 5.5 5.5 4.2 3.3 2.7 5.5 5.8 1.3 -0.9 -0.7 2.0 1.7 -1.3 -1.3 0.1 -0.4
Reinhart Partners 0.3 7.0 7.0 4.8 3.5 3.1 7.0 6.1 1.3 0.0 0.0 2.5 2.2 -1.9 -1.9 -1.1 -1.1
Barclays Intermediate Aggregate 0.4 5.6 5.6 4.4 3.5 3.1 5.6 6.7 0.9 2.3 2.2 -2.1 -2.1 #N/A #N/A
Barclays Intermediate Gov't-Credit 0.5 6.4 6.4 4.7 3.6 3.1 6.4 6.8 0.9 2.5 2.2 -2.1 -2.1 #N/A #N/A
Barclays U.S. Corporate -- -- -- -- -- -- -- -- -2.5 -- -- -- -- -1.6 0.0
Belle Haven Taxable Plus 1.1 7.3 7.3 6.0 5.3 5.3 7.3 7.8 2.9 1.6 1.2 2.6 2.5 -2.3 -2.3 0.6 0.6
Belle Haven Taxable Ladder Plus 1.0 6.8 6.8 5.4 4.5 4.5 6.8 7.0 2.6 1.2 0.6 2.4 2.4 -2.3 -2.3 -0.4 -0.4
BlackRock Fundamental 0.4 7.4 7.4 5.4 4.4 3.8 7.4 9.0 0.1 -0.4 -0.3 3.2 3.1 -3.0 -3.0 -2.0 -2.0
Delaware Investments Agg -0.5 7.7 7.7 5.2 3.9 3.4 7.7 7.6 0.6 -0.3 -0.3 4.0 3.7 -3.7 -3.7 -3.4 -3.4
Optimum Quantvest -- -- -- -- -- -- -- -- 0.8 0.6 -- -- -- -- -- -3.3 --
Western Asset -- -- -- -- -- -- -- -- 0.8 0.6 -- -- -- -- -- -3.3 --
Barclays Aggregate 0.7 7.5 7.5 5.3 4.4 3.8 7.5 8.7 0.0 3.2 3.0 -3.0 -3.0 -2.0 -2.0
SBarclays Government-Credit 0.8 8.9 8.9 6.0 5.0 4.2 8.9 9.7 -0.4 3.6 3.5 -3.4 -3.4 -2.4 -2.4
Corporate Ladder
Invesco BulletShares 0-3 Yr 0.4 2.5 2.5 -- -- -- 2.5 -- -- -- -- -- -- -- -- -- --
Invesco BulletShares 0-5 Yr 0.9 4.0 4.0 -- -- -- 4.0 -- -- -- -- -- -- -- -- -- --
Invesco BulletShares 0-7 Yr 1.2 5.4 5.4 -- -- -- 5.4 -- -- -- -- -- -- -- -- -- --
Invesco BulletShares 0-10 Yr 1.6 6.7 6.7 -- -- -- 6.7 -- -- -- -- -- -- -- -- -- --
Madison Corporate Bond Ladder: 1-3 Yr 0.3 1.9 1.9 2.6 2.1 -- 1.9 4.1 1.8 -- -- 1.8 -- -1.8 -- -- --
Madison Corporate Bond Ladder: 1-5 Yr 0.6 3.5 3.5 3.5 2.8 -- 3.5 5.6 1.3 -- -- 2.0 -- -1.0 -- -- --
Madison Corporate Bond Ladder: 1-10 Yr 1.4 7.3 7.3 5.5 4.6 -- 7.3 9.3 0.2 -- -- 3.5 -- -2.0 -- -- --
BBgBarc US Corp Bond TR USD 3.1 9.9 9.9 7.1 6.7 5.6 9.9 14.5 -2.5 5.7 4.8 -3.6 -3.6 -1.6 -2.5
BBgBarc Interm Corp TR USD 1.8 7.5 7.5 5.7 5.0 4.4 7.5 10.1 -0.2 4.4 3.6 -3.2 -3.2 #N/A #N/A
Non-Investment Grade Taxable
Cincinnati Asset Mgmt High Yield 4.8 7.5 7.5 6.5 7.1 5.1 7.5 16.3 -3.4 -0.9 -0.7 7.7 7.0 -10.0 -10.0 -9.6 -9.6
Seix High Yield WRAP 5.3 8.2 8.2 6.2 6.8 6.1 8.2 12.6 -1.7 0.1 -0.3 6.8 5.8 -8.4 -8.4 -1.8 -3.1
Barclays High Yield Corp. Bond Index 6.5 7.1 7.1 6.2 8.6 6.8 7.1 14.3 -2.1 9.2 8.0 -12.7 -12.7 -4.5 -6.9
Broad Market Taxable
Cincinnati Asset Mgmt Short Duration 2.9 6.6 6.6 5.3 5.2 3.8 6.6 9.0 0.4 -1.2 -0.8 4.3 4.2 -5.1 -5.1 -7.1 -7.1
Cincinnati Asset Mgmt Intermediate 2.8 8.4 8.4 6.5 6.2 5.4 8.4 13.9 -2.1 -0.2 -0.5 5.7 4.9 -5.3 -5.3 -2.4 -2.4
S50/50 BC Interm US Corp/BC Interm HY 4.2 6.5 6.5 5.8 6.7 5.5 6.5 12.3 -1.1 6.6 5.5 -8.6 -8.6 -2.0 -2.9
67/33 BC US Corp/BC HY Corp -- -- -- -- -- -- -- -- -1.4 -- -- -- -- -1.9 0.0
Preferred Securities
Spectrum Asset Management 4.1 8.1 8.1 6.8 6.3 7.2 8.1 17.4 -4.2 0.7 0.3 8.3 7.4 -8.9 -8.9 -3.9 -4.2
Spectrum Asset Management Capital Securities 4.4 7.5 7.5 6.3 6.1 7.0 7.5 16.6 -4.1 0.5 0.2 8.4 7.5 -10.1 -10.1 -3.9 -4.1
Spectrum Asset Management Tax Advantaged 4.3 8.0 8.0 6.7 6.3 7.0 8.0 17.8 -4.4 0.2 0.1 8.7 8.0 -9.6 -9.6 -4.5 -4.5
BofA ML Fixed Rate Pref. Securities #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A

(W) denotes a portfolio is on the Watch List. Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's composite
(C) denotes a portfolio is on the Closed List. performance as reported to Infroma Investment Solutions or RBC Wealth Management. Return Based on calendar
(R) denotes a portfolio is on the Restricted List. information is deemed reliable, but has not been independently verified by RBC Wealth Management. quarter returns
Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 14 |
(CP) denotes a portfolio that may contain complex components.
Managed Account Research List
For period ending December 31, 2020
Trailing Period Returns (%) Information Annualized Worst Worst 4
Actual Annualized Calendar Year Returns (%) Ratio Std. Deviation Quarter Quarters
Last
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr

Fixed Income Cont.

Municipal Fixed Income
BlackRock Short 0.2 2.7 2.7 2.7 1.9 1.7 2.7 3.6 1.7 -0.66 -0.69 1.4 1.2 -1.3 -1.3 0.1 -0.1
Parametric TABS Municipal Short 0.4 3.5 3.5 3.1 2.4 -- 3.5 4.4 1.5 -- -- 1.9 -- -2.1 -- -- --
Parametric TABS Tot Ret Limited 0.4 4.8 4.8 3.7 2.7 2.7 4.8 4.8 1.6 -1.62 -0.45 2.0 1.9 -2.0 -2.0 -0.7 -0.7
Loomis, Sayles & Company 0.8 4.3 4.3 3.9 2.9 3.0 4.3 5.9 1.5 -1.4 -1.1 2.3 2.1 -2.6 -2.6 -0.4 -0.5
Nuveen Asset Management Ltd Maturity 0.5 3.5 3.5 3.2 2.3 2.5 3.5 4.6 1.5 -1.69 -0.81 1.9 1.8 -2.0 -2.0 -0.4 -0.5
Barclays 5 Year Municipal 0.8 4.3 4.3 3.8 2.8 3.0 4.3 5.5 1.7 2.5 2.2 -2.6 -2.6 -0.2 -0.6
BBgBarc Municipal 3 Yr 2-4 TR USD 0.3 3.0 3.0 2.8 2.0 1.9 3.0 3.7 1.8 1.5 1.2 -1.1 -1.1 0.5 -0.1
Appleton Partners 1.1 4.7 4.7 4.1 3.1 3.6 4.7 6.2 1.5 -1.31 -0.82 2.7 2.6 -3.3 -3.3 -0.9 -0.9
Belle Haven Ladder Plus 0.9 5.0 5.0 4.3 3.4 3.7 5.0 6.1 1.8 2.5 1.4 2.4 2.1 -2.7 -2.7 0.0 0.0
BlackRock Intermediate 0.8 4.4 4.4 3.8 2.9 3.2 4.4 5.7 1.3 -1.85 -1.11 2.4 2.4 -2.9 -2.9 -1.3 -1.3
Parametric TABS Municipal Interm. 0.9 4.8 4.8 4.1 3.6 3.8 4.8 6.4 1.3 -0.9 -0.2 2.8 2.6 -3.5 -3.5 -1.2 -1.2
Parametric TABS Total Return Interm 1.2 6.5 6.5 5.1 4.1 4.5 6.5 8.0 1.0 0.54 0.49 3.6 3.5 -4.3 -4.3 -2.9 -2.9
GW&K Investment Management Intermediate 1.3 5.2 5.2 4.7 3.7 4.6 5.2 7.8 1.1 0.2 0.0 3.2 3.3 -4.0 -4.0 -1.7 -1.7
Nuveen Asset Management Intermediate 1.4 5.2 5.2 4.5 3.6 4.2 5.2 7.2 1.2 0.59 0.26 3.1 3.1 -3.9 -3.9 -2.0 -2.0
RBC Global Asset Management**** -- -- -- -- -- -- -- -- 1.6 -- -- -- -- -- -- -- --
Barclays 1-10 Year Municipal Blend 1.0 4.2 4.2 3.8 3.0 3.3 4.2 5.6 1.6 2.3 2.1 -2.6 -2.6 -0.3 -0.3
Barclays 7 Year Municipal 1.3 5.1 5.1 4.5 3.5 4.0 5.1 6.7 1.7 3.1 2.9 -3.7 -3.7 -1.0 -1.0
Loomis, Sayles & Company Medium 1.4 5.1 5.1 4.6 3.8 4.5 5.1 7.6 1.1 -0.2 -0.2 3.0 3.0 -3.7 -3.7 -1.8 -1.8
Barclays 10 Year Municipal 1.8 5.6 5.6 4.9 4.1 4.8 5.6 7.7 1.4 3.4 3.3 -4.3 -4.3 -2.2 -2.2
BlackRock Long 1.7 5.9 5.9 4.9 4.1 4.8 5.9 8.0 0.8 -0.01 0.05 3.2 3.4 -3.8 -3.8 -2.7 -2.7
Parametric TABS Municipal Long 1.4 5.8 5.8 4.9 4.4 -- 5.8 7.9 1.2 -- -- 3.5 -- -4.5 -- -- --
Parametric TABS Tot Ret Long 2.2 7.2 7.2 5.8 5.0 6.0 7.2 9.7 0.7 -0.12 0.03 3.9 4.2 -4.4 -5.0 -4.3 -4.3
Nuveen Asset Management Long 2.4 6.6 6.6 5.7 4.8 5.7 6.6 10.0 0.6 1.1 0.9 3.7 4.1 -4.1 -4.7 -4.3 -4.3
BBgBarc Municipal 10 Yr 8/12 TR USD 1.8 5.6 5.6 4.9 4.1 4.8 5.6 7.7 1.4 3.4 3.3 -4.3 -4.3 -2.2 -2.2
BBgBarc Municipal TR USD 1.8 5.2 5.2 4.6 3.9 4.6 5.2 7.5 1.3 3.0 3.1 -3.6 -3.6 -2.6 -2.6

Nuveen Municipal Ladder: 1-7 Year 0.3 3.2 3.2 2.8 1.9 -- 3.2 4.0 1.0 -- -- 1.8 -- -1.9 -- -- --
Nuveen Municipal Ladder: 1-10 Year 0.6 4.0 4.0 3.4 2.6 -- 4.0 5.2 1.0 -- -- 2.3 -- -2.9 -- -- --
Nuveen Municipal Ladder: 1-15 Year 1.0 4.6 4.6 3.9 3.1 -- 4.6 6.4 0.9 -- -- 2.9 -- -3.8 -- -- --
Nuveen Municipal Ladder: 5-15 Year 1.3 5.6 5.6 4.7 3.8 -- 5.6 7.8 0.9 -- -- 3.5 -- -4.6 -- -- --
Nuveen Municipal Ladder: 10-25 Year 2.0 6.3 6.3 5.2 4.6 -- 6.3 9.0 0.6 -- -- 4.0 -- -5.0 -- -- --
BBgBarc Municipal TR USD 1.8 5.2 5.2 4.6 3.9 4.6 5.2 7.5 1.3 3.0 3.1 -3.6 -3.6 -2.6 -2.6
Barclays 1-10 Year Municipal 1.0 4.2 4.2 3.8 3.0 3.3 4.2 5.6 1.6 2.3 2.1 -2.6 -2.6 -0.3 -0.3
Barclays 5-Year Municipal 0.8 4.3 4.3 3.8 2.8 3.0 4.3 5.5 1.7 2.5 2.2 -2.6 -2.6 -0.2 -0.6
Barclays 10-Year Municipal 1.8 5.6 5.6 4.9 4.1 4.8 5.6 7.7 1.4 3.4 3.3 -4.3 -4.3 -2.2 -2.2

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's composite
(W) denotes a portfolio is on the Watch List.
performance as reported to Informa Investment
(C) denotes a portfolio is on the Closed List. Based on calendar
Solutions or RBC Wealth Management. Return information is deemed reliable, but has not been
(R) denotes a portfolio is on the Restricted List. quarter returns
independently verified by RBC Wealth Management.
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

FOR FINANCIAL ADVISOR USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 16 |
Managed Account Research List
For period ending December 31, 2020
Upside/
Trailing Period Returns (%) Annualized Annualized Annualized Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last 5 Yr
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Asset Allocation
Strategic
Am. Funds Portfolio Series - Preservation (CP) 0.5 6.1 6.1 4.0 2.9 -- 6.1 4.1 1.7 1.02 -- 1.8 -- 0.9 -- 27.2 -33.8
Am. Funds Portfolio Series - T.E. Preservation (CP) 0.8 3.9 3.9 3.1 2.4 -- 3.9 4.3 1.2 -0.4 -- 1.9 -- 0.6 -- 33.3 19.8
Am. Funds Portfolio Series - Cons. Income (CP) 3.2 8.2 8.2 5.5 -- -- 8.2 9.5 -0.7 -- -- -- -- -- -- -- --
BlackRock Long Horizon ETF 30/70 (CP) 7.7 13.6 13.6 8.0 -- -- 13.6 14.3 -2.9 -- -- -- -- -- -- -- --
RBC Diversified ETF Portfolio Profile 1 (CP) 3.9 9.3 9.3 6.4 6.2 -- 9.3 12.6 -2.2 -0.42 -- 5.2 -- 0.9 -- 97.3 107.1
RBC Diversified Mutual Fund Portfolio Profile 1 (CP) 5.1 9.0 9.0 5.2 5.2 3.7 9.0 10.2 -3.0 -- -- 5.4 4.3 0.7 0.7 -- --
RBC Strategic ETF Portfolio Profile 1 (CP) 3.8 9.8 9.8 6.8 6.6 -- 9.8 13.2 -2.0 0.41 -- 5.3 -- 1.0 -- 104.6 102.9
RBC Strategic Mutual Fund Portfolio Profile 1 (CP) 4.9 10.0 10.0 6.2 6.3 4.4 10.0 10.7 -1.8 -- -- 5.2 4.4 0.9 0.8 -- --
Russell Model Strategy - Conservative (CP) 4.8 7.1 7.1 4.9 5.2 4.2 7.1 9.8 -1.7 -2.26 -2.43 5.7 4.8 0.7 0.7 94.0 147.8
Russell Model Strategy - Cons. Tax Mngd (CP) 5.6 6.3 6.3 5.5 5.7 5.2 6.3 11.5 -1.0 -2.0 -1.3 5.8 4.7 0.8 1.0 108.1 188.9
Vanguard S&P Series 0/100 (CP) -- -- -- -- -- -- -- 8.3 0.8 -- -- -- -- -- -- -- --
Vanguard S&P Series 10/90 (CP) -- -- -- -- -- -- -- 10.2 -0.1 -- -- -- -- -- -- -- --
Vanguard S&P Series 20/80 (CP) -- -- -- -- -- -- -- 12.0 -1.0 -- -- -- -- -- -- -- --
Blended Benchmark 1 (12 SP 500 (TR) / 8 MSCI World ex US (Net) 3.3 8.9 8.9 6.8 6.3 4.1 8.9 12.3 -0.5 5.0 4.6 1.0 0.8
Blended Benchmark 1 w/ Alts (11 SP 500 (TR) / 6 MSCI World ex US 3.5 9.0 9.0 6.6 6.5 4.3 9.0 11.7 -0.7 4.8 4.4 1.1 0.8
Am. Funds Portfolio Series - Conservative Growth and Income Portfo 7.2 5.9 5.9 5.9 7.9 -- 5.9 16.1 -3.4 0.18 -- 8.8 -- 0.7 -- 84.0 82.3
BlackRock Long Horizon ETF 40/60 (CP) 9.5 14.9 14.9 8.9 -- -- 14.9 16.5 -3.4 -- -- -- -- -- -- -- --
RBC Diversified ETF Portfolio Profile 2 (CP) 7.1 10.0 10.0 6.7 7.1 -- 10.0 15.4 -4.3 -1.15 -- 8.3 -- 0.7 -- 102.9 115.3
RBC Diversified Mutual Fund Portfolio Profile 2 (CP) 9.1 10.5 10.5 5.7 6.3 4.2 10.5 13.6 -6.1 -- -- 9.3 7.9 0.5 0.5 -- --
RBC Strategic ETF Portfolio Profile 2 (CP) 7.4 11.1 11.1 7.5 8.0 -- 11.1 16.5 -4.2 -0.38 -- 8.5 -- 0.8 -- 106.2 106.7
RBC Strategic Mutual Fund Portfolio Profile 2 (CP) 9.6 12.2 12.2 7.1 8.0 5.6 12.2 15.1 -4.9 -- -- 9.6 8.2 0.7 0.6 -- --
Russell Model Strategy - Moderate (CP) 8.3 8.9 8.9 5.7 6.7 5.4 8.9 12.8 -3.9 -2.71 -2.96 8.9 7.6 0.6 0.6 92.7 125.3
Russell Model Strategy - Moderate Tax Managed (CP) 8.0 8.0 8.0 6.3 6.9 6.3 8.0 14.4 -2.8 -2.2 -1.8 8.4 7.1 0.7 0.8 96.9 132.1
Vanguard S&P Series 30/70 (CP) -- -- -- -- -- -- -- 13.8 -2.0 -- -- -- -- -- -- -- --
Vanguard S&P Series 40/60 (CP) -- -- -- -- -- -- -- 15.6 -2.9 -- -- -- -- -- -- -- --
Blended Benchmark 2 (24 SP 500 (TR) / 16 MSCI World ex US (Net 5.9 10.3 10.3 7.7 7.6 5.2 10.3 16.0 -2.4 7.3 6.5 0.8 0.7
Blended Benchmark 2 w/ Alts (20 SP 500 (TR) / 13 MSCI World ex U 6.0 10.3 10.3 7.2 7.4 5.2 10.3 14.7 -2.5 7.0 6.2 0.9 0.7
Am. Funds Portfolio Series - Moderate Growth and Income Portfolio ( 9.5 13.4 13.4 9.1 10.0 -- 13.4 19.8 -4.4 0.70 -- 10.7 -- 0.8 -- 102.9 90.8
Am. Funds Portfolio Series - T.A. Growth & Income (CP) 10.2 11.6 11.6 8.4 9.1 -- 11.6 16.3 -1.9 2.1 -- 7.6 -- 1.0 -- 84.5 62.4
BlackRock Long Horizon ETF 50/50 (CP) 11.2 15.9 15.9 9.3 -- -- 15.9 17.7 -4.3 -- -- -- -- -- -- -- --
BlackRock Long Horizon ETF 60/40 (CP) 13.0 17.2 17.2 10.0 -- -- 17.2 19.6 -5.1 -- -- -- -- -- -- -- --
First Trust/Morningstar Multi Discipline 60/40 11.1 12.4 12.4 8.6 8.7 7.8 12.4 22.7 -7.1 -2.07 0.17 13.5 11.6 0.6 0.6 104.5 116.1
RBC Diversified ETF Portfolio Profile 3 (CP) 10.0 10.5 10.5 7.1 8.2 -- 10.5 17.7 -5.5 -1.2 -- 11.3 -- 0.6 -- 104.8 115.4
RBC Diversified Mutual Fund Portfolio Profile 3 (CP) 11.6 10.8 10.8 5.9 7.1 4.6 10.8 16.1 -7.7 -- -- 11.8 10.2 0.5 0.4 -- --
RBC Strategic ETF Portfolio Profile 3 (CP) 11.0 12.3 12.3 8.1 9.3 -- 12.3 19.6 -5.9 -0.8 -- 12.0 -- 0.7 -- 105.5 108.5
RBC Strategic Mutual Fund Portfolio Profile 3 (CP) 12.9 12.9 12.9 7.5 9.1 6.3 12.9 18.5 -7.3 -- -- 12.8 11.0 0.6 0.5 -- --
Russell Model Strategy - Balanced (CP) 11.6 10.6 10.6 6.2 7.9 6.2 10.6 16.1 -6.7 -2.9 -3.2 12.4 10.7 0.5 0.5 93.2 118.0
Russell Model Strategy - Balanced Tax Mngd (CP) 10.9 10.2 10.2 7.2 8.5 7.4 10.2 17.9 -5.3 -1.17 0.48 11.5 10.0 0.6 0.7 98.6 106.2
Vanguard S&P Series 50/50 (CP) -- -- -- -- -- -- -- 17.5 -3.8 -- -- -- -- -- -- -- --
Vanguard S&P Series 60/40 (CP) -- -- -- -- -- -- -- 19.3 -4.8 -- -- -- -- -- -- -- --
Blended Benchmark 3 (36 SP 500 (TR) / 24 MSCI World ex US (Net 8.5 11.6 11.6 8.6 9.1 6.5 11.6 19.9 -4.2 10.3 9.1 0.8 0.6
Blended Benchmark 3 w/ Alts (29 SP 500 (TR) / 19 MSCI World ex U 8.3 11.4 11.4 7.9 8.4 6.0 11.4 17.5 -4.2 9.6 8.5 0.7 0.6

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's composite
(W) denotes a portfolio is on the Watch List. performance as reported to Informa Investment
(C) denotes a portfolio is on the Closed List. Solutions or RBC Wealth Management. Return information is deemed reliable, but has not been Based on calendar
(R) denotes a portfolio is on the Restricted List. independently verified by RBC Wealth Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

FOR FINANCIAL ADVISOR USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 18 |
Managed Account Research List
For period ending December 31, 2020
Trailing Period Returns (%) Annualized Annualized Annualized Upside/Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Asset Allocation
Strategic Continued
Am. Funds Portfolio Series - Growth and Income (CP) 11.5 16.6 16.6 10.3 11.7 -- 16.6 22.1 -5.7 1.43 -- 13.2 -- 0.8 -- 102.8 89.0
Am. Funds Portfolio Series - Moderate Growth (CP) 13.5 19.8 19.8 12.1 -- -- 19.8 25.0 -5.9 -- -- -- -- -- -- -- --
BlackRock Long Horizon ETF 70/30 (CP) 14.6 17.2 17.2 10.1 -- -- 17.2 21.0 -5.9 -- -- -- -- -- -- -- --
BlackRock Long Horizon ETF 80/20 (CP) 13.0 14.7 14.7 9.6 -- -- 14.7 22.8 -6.7 -- -- -- -- -- -- -- --
SFirst Trust/Morningstar Multi Discipline 75/25 13.9 14.1 14.1 10.1 10.0 8.9 14.1 27.5 -8.2 -1.57 0.45 16.2 13.9 0.5 0.6 101.2 106.6
RBC Diversified ETF Portfolio Profile 4 (CP) 12.1 11.5 11.5 7.6 9.0 -- 11.5 20.3 -7.0 -1.0 -- 13.7 -- 0.6 -- 103.6 111.4
RBC Diversified Mutual Fund Portfolio Profile 4 (CP) 14.6 11.6 11.6 6.1 7.7 5.5 11.6 18.8 -9.9 -- -- 14.7 12.6 0.4 0.4 -- --
RBC Strategic ETF Portfolio Profile 4 (CP) 14.1 13.6 13.6 8.7 10.5 -- 13.6 22.9 -7.9 -0.8 -- 15.2 -- 0.6 -- 104.5 106.7
RBC Strategic Mutual Fund Portfolio Profile 4 (CP) 16.5 13.9 13.9 8.0 10.0 6.9 13.9 22.0 -9.4 -- -- 16.1 13.8 0.5 0.5 -- --
Russell Model Strategy - Growth (CP) 14.8 11.3 11.3 6.5 9.1 6.9 11.3 19.4 -9.0 -2.9 -3.5 15.3 13.4 0.5 0.5 91.0 110.7
Russell Model Strategy - Growth Tax Mngd (CP) 13.6 12.0 12.0 7.9 10.1 8.5 12.0 21.4 -7.5 -0.70 0.45 14.5 13.0 0.6 0.6 100.1 102.6
Vanguard S&P Series 70/30 (CP) -- -- -- -- -- -- -- 21.1 -5.8 -- -- -- -- -- -- -- --
Vanguard S&P Series 80/20 (CP) -- -- -- -- -- -- -- 23.0 -6.8 -- -- -- -- -- -- -- --
Blended Benchmark 4 (48 SP 500 (TR) / 32 MSCI World ex US (Net) 11.1 12.9 12.9 9.4 10.3 7.4 12.9 23.8 -6.3 13.5 11.7 0.7 0.6
Blended Benchmark 4 w/ Alts (39 SP 500 (TR) / 25 MSCI World ex US 10.4 12.5 12.5 8.5 9.3 6.7 12.5 20.6 -5.8 12.2 10.5 0.6 0.6
American Funds Portfolio Series - Growth (CP) 15.5 25.7 25.7 14.5 15.2 -- 25.7 27.5 -6.4 2.03 -- 17.9 -- 0.8 -- 111.7 92.8
Am. Funds Portfolio Series - Global Growth (CP) 17.3 27.9 27.9 14.5 15.0 -- 27.9 28.3 -8.7 1.6 -- 18.7 -- 0.7 -- 111.4 93.8
BlackRock Long Horizon ETF 90/10 (CP) 14.3 15.2 15.2 9.9 -- -- 15.2 24.4 -7.5 -- -- -- -- -- -- -- --
BlackRock Long Horizon ETF 100/0 (CP) 15.6 15.1 15.1 10.1 -- -- 15.1 26.3 -8.1 -- -- -- -- -- -- -- --
SFirst Trust/Morningstar Multi Discipline 90/10 16.2 14.1 14.1 10.3 10.5 9.6 14.1 30.0 -9.6 -2.73 -0.09 19.1 16.4 0.5 0.5 97.8 111.9
SFirst Trust/Morningstar Multi Discipline All Equity 18.1 16.0 16.0 10.7 11.1 10.3 16.0 31.6 -11.2 -3.1 -0.2 20.9 18.2 0.5 0.5 106.7 121.3
RBC Diversified ETF Portfolio Profile 5 (CP) 14.3 11.8 11.8 8.0 9.9 -- 11.8 22.8 -8.2 -1.22 -- 16.0 -- 0.5 -- 100.8 107.6
RBC Diversified Mutual Fund Portfolio Profile 5 (CP) 16.8 11.8 11.8 6.1 8.2 5.9 11.8 21.2 -11.8 -- -- 16.9 14.4 0.4 0.4 -- --
RBC Strategic ETF Portfolio Profile 5 (CP) 16.6 14.4 14.4 9.3 12.1 -- 14.4 25.6 -9.2 -0.76 -- 17.8 -- 0.6 -- 103.1 106.6
RBC Strategic Mutual Fund Portfolio Profile 5 (CP) 19.0 14.6 14.6 8.3 11.1 8.0 14.6 25.0 -11.3 -- -- 18.5 16.1 0.5 0.5 -- --
Russell Model Strategy - Equity Growth (CP) 18.0 12.7 12.7 6.9 10.3 7.6 12.7 22.2 -11.2 -2.79 -3.62 18.1 15.7 0.5 0.4 87.6 103.1
Russell Model Strategy - Growth Tax Mngd (CP) 13.6 12.0 12.0 7.9 10.1 8.5 12.0 21.4 -7.5 -0.7 0.5 14.5 13.0 0.6 0.6 100.1 102.6
Vanguard S&P Series 90/10 (CP) -- -- -- -- -- -- -- 24.8 -7.8 -- -- -- -- -- -- -- --
Vanguard S&P Series 100/0 (CP) -- -- -- -- -- -- -- 26.7 -8.8 -- -- -- -- -- -- -- --
Blended Benchmark 5 (48 SP 500 (TR) / 32 MSCI World ex US (Net) 13.4 13.8 13.8 10.0 12.2 9.0 13.8 27.2 -7.9 16.4 14.7 0.7 0.6
Blended Benchmark 5 w/ Alts (47 SP 500 (TR) / 31 MSCI World ex US 12.2 13.3 13.3 9.1 10.4 7.5 13.3 23.3 -7.0 14.5 12.5 0.6 0.6
Blended Benchmark 5 w/ Alts (47 SP 500 (TR) / 31 MSCI World ex US 12.2 13.3 13.3 9.1 10.4 7.5 13.3 23.3 -7.0 14.5 12.5 0.6 0.6

Returns are shown GROSS of fees unless otherwise noted. Returns represent each product's composite
(W) denotes a portfolio is on the Watch List. performance as reported to Informa Investment
(C) denotes a portfolio is on the Closed List. Solutions or RBC Wealth Management. Return information is deemed reliable, but has not been independently Based on calendar
(R) denotes a portfolio is on the Restricted List. verified by RBC Wealth Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

FOR FINANCIAL ADVISOR USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 20 |
 Managed Account Research List
For period ending December 31, 2020
Trailing Period Returns (%) Annualized Annualized Annualized Upside/Downside
Actual Annualized Calendar Year Returns (%) Alpha (%) Std. Deviation Sharpe Ratio Capture Ratio
Last
QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr 2019 2018 2017 5 Yr 10 Yr 5 Yr 10 Yr 5 Yr 10 Yr Up Down

Asset Allocation
Income
## RBC Active Allocation Select Portfolio 11.4 10.9 10.9 7.4 9.3 -- 10.9 19.9 -6.8 -- -- 12.4 -- 0.6 -- -- --
## RBC Income Select Portfolio Cons .Income(CP) 0.4 2.5 2.5 -- -- -- 2.5 -- -- -- -- -- -- -- -- -- --
## RBC Income ETF Portfolio Cons. Income (CP) 1.6 6.7 6.7 -- -- -- 6.7 -- -- -- -- -- -- -- -- -- --
## RBC Income Select Portfolio Moderate Income(CP) 0.9 4.0 4.0 -- -- -- 4.0 -- -- -- -- -- -- -- -- -- --
RBC Income ETF Portfolio Moderate Income (CP) 6.9 2.6 2.6 3.9 5.3 -- 2.6 13.3 -3.7 -- -- 9.6 -- 0.4 -- -- --
RBC Income Select Portfolio High Income(CP) 1.2 5.4 5.4 -- -- -- 5.4 -- -- -- -- -- -- -- -- -- --
## RBC Income ETF Portfolio High Income (CP) 9.5 1.4 1.4 3.5 5.7 -- 1.4 15.5 -5.5 -- -- 13.0 -- 0.3 -- -- --
## Barclays Global Aggregate 3.3 9.2 9.2 4.9 4.8 2.8 9.2 6.8 -1.2 5.2 4.7 0.7 0.5
## Barclays Global High Yield -- -- -- -- -- -- -- 12.6 -4.1 -- -- -- --
## Blended Benchmark 1 (12 SP 500 (TR) / 8 MSCI World ex US (Net) / 69 BBG 3.3 8.9 8.9 6.8 6.3 4.1 8.9 12.3 -0.5 5.0 4.6 1.0 0.8
## MSCI World High Dividend -- -- -- -- -- -- -- 23.1 -7.6 -- -- -- --

Strategic + Tactical
## Sage Advisory Services Core Plus Fixed Income (CP) 2.6 8.6 8.6 5.6 4.5 -- 8.6 9.5 -0.9 0.7 -- 4.1 -- 0.8 -- 99.5 87.7
## Barclays Global Aggregate 3.3 9.2 9.2 4.9 4.8 2.8 9.2 6.8 -1.2 5.2 4.7 0.7 0.5
S200 Richard Bernstein Advisors Global Conservative ETF 3.6 6.9 6.9 5.2 5.8 5.6 6.9 9.7 -0.9 1.4 3.1 4.1 3.6 1.1 1.3 89.0 80.2
## Sage Advisory Services Profile 1 (CP) 6.2 11.6 11.6 6.9 6.1 5.1 11.6 12.7 -2.7 -0.6 1.3 6.5 5.3 0.7 0.8 105.6 127.1
## Blended Benchmark 1 (12 SP 500 (TR) / 8 MSCI World ex US (Net) / 69 BBG 3.3 8.9 8.9 6.8 6.3 4.1 8.9 12.3 -0.5 5.0 4.6 1.0 0.8
## Blended Benchmark 1 w/ Alts (11 SP 500 (TR) / 6 MSCI World ex US (Net) / 6 3.5 9.0 9.0 6.6 6.5 4.3 9.0 11.7 -0.7 4.8 4.4 1.1 0.8
## Riverfront Conservative Income Builder (CP) 4.3 11.6 11.6 7.7 7.7 6.5 11.6 14.8 -2.6 1.9 2.4 5.6 5.4 1.1 1.1 86.1 56.4
S201 Riverfront ETF Conservative Income Builder (CP) 4.5 11.6 11.6 7.7 7.8 -- 11.6 15.0 -2.6 1.9 -- 5.6 -- 1.1 -- 87.0 57.3
## Sage Advisory Services Profile 2 (CP) 8.8 12.8 12.8 7.8 7.4 6.2 12.8 16.2 -4.6 -1.3 0.6 9.1 7.6 0.7 0.7 103.0 112.8
S200 Stringer Asset ETF Income 3.1 2.6 2.6 3.6 4.6 -- 2.6 11.8 -3.0 -0.8 -- 5.0 -- 0.7 -- 86.5 128.2
## Blended Benchmark 2 (24 SP 500 (TR) / 16 MSCI World ex US (Net) / 46 BB 5.9 10.3 10.3 7.7 7.6 5.2 10.3 16.0 -2.4 7.3 6.5 0.8 0.7
## Blended Benchmark 2 w/ Alts (20 SP 500 (TR) / 13 MSCI World ex US (Net) / 6.0 10.3 10.3 7.2 7.4 5.2 10.3 14.7 -2.5 7.0 6.2 0.9 0.7
## Alesco Global Balanced (CP) 11.8 10.7 10.7 7.4 9.5 8.1 10.7 19.3 -6.2 -1.6 -0.2 12.9 11.1 0.6 0.7 100.9 108.6
RBC Active Allocation Portfolio (CP) 11.4 10.9 10.9 7.4 9.3 -- 10.9 19.9 -6.8 -- -- 12.4 -- 0.6 -- -- --
S200 Richard Bernstein Advisors Global Moderate ETF 7.4 12.8 12.8 7.2 8.8 7.7 12.8 16.0 -5.9 1.5 2.5 8.6 7.6 0.9 0.9 83.6 64.6
Richard Bernstein Advisors Global Risk-Balanced Mod. ETF 7.6 13.1 13.1 6.6 9.3 8.1 13.1 16.6 -8.3 1.6 2.6 9.5 8.3 0.8 0.9 89.5 70.8
## Riverfront Moderate Growth and Income (CP) 6.8 12.6 12.6 8.3 9.1 7.7 12.6 18.6 -4.8 1.2 1.9 8.8 8.3 0.9 0.8 88.4 72.4
S200 Riverfront ETF Moderate Growth and Income (CP) 7.0 13.1 13.1 8.6 9.3 7.6 13.1 18.6 -4.5 1.5 1.7 8.7 8.5 0.9 0.8 89.7 71.2
## Sage Advisory Services Profile 3 (CP) 11.6 13.9 13.9 8.5 8.6 7.2 13.9 19.9 -6.5 -1.4 0.3 11.9 10.2 0.6 0.6 100.3 109.0
S200 Stringer Asset ETF Income & Growth 4.5 2.3 2.3 3.6 4.5 -- 2.3 14.1 -4.8 -2.4 -- 7.2 -- 0.5 -- 76.0 113.1
S200 Stringer Asset ETF Conservative Growth (CP) 7.1 9.1 9.1 6.2 7.3 6.5 9.1 16.5 -5.8 -0.6 0.9 9.0 8.0 0.7 0.7 82.9 90.5
## Blended Benchmark 3 (36 SP 500 (TR) / 24 MSCI World ex US (Net) / 26 BB 8.5 11.6 11.6 8.6 9.1 6.5 11.6 19.9 -4.2 10.3 9.1 0.8 0.6
## Blended Benchmark 3 w/ Alts (29 SP 500 (TR) / 19 MSCI World ex US (Net) / 8.3 11.4 11.4 7.9 8.4 6.0 11.4 17.5 -4.2 9.6 8.5 0.7 0.6
## Riverfront Dynamic Equity Income (CP) 10.1 15.2 15.2 8.9 10.5 8.6 15.2 21.2 -7.6 1.0 1.4 12.2 11.6 0.7 0.7 91.6 80.2
S201 Riverfront ETF Dynamic Equity Income (CP) 11.2 15.1 15.1 9.0 10.6 -- 15.1 21.5 -7.3 1.0 -- 12.4 -- 0.7 -- 92.8 81.2
## Riverfront Global Allocation (CP) 11.4 15.3 15.3 9.1 10.5 8.3 15.3 23.6 -8.9 -0.1 0.2 14.3 13.4 0.6 0.6 98.7 95.2
S201 Riverfront ETF Global Allocation (CP) 12.3 14.8 14.8 9.1 10.5 8.3 14.8 23.7 -8.7 -0.2 0.2 14.3 13.4 0.6 0.6 98.9 95.6
## Sage Advisory Services Profile 4 (CP) 14.3 14.7 14.7 9.1 9.7 8.2 14.7 23.6 -8.5 -1.2 0.3 14.7 12.9 0.6 0.6 99.4 106.0
S200 Stringer Asset ETF Moderate Growth (CP) 9.3 10.0 10.0 6.7 8.4 7.6 10.0 18.0 -6.3 -0.4 1.1 11.2 10.0 0.6 0.7 80.8 85.0
## Blended Benchmark 4 (48 SP 500 (TR) / 32 MSCI World ex US (Net) / 12 BB 11.1 12.9 12.9 9.4 10.3 7.4 12.9 23.8 -6.3 13.5 11.7 0.7 0.6
## Blended Benchmark 4 w/ Alts (39 SP 500 (TR) / 25 MSCI World ex US (Net) / 10.4 12.5 12.5 8.5 9.3 6.7 12.5 20.6 -5.8 12.2 10.5 0.6 0.6
S200 Richard Bernstein Advisors Global Aggressive 10.8 14.5 14.5 7.9 11.4 9.6 14.5 22.8 -10.7 1.4 2.0 13.4 12.5 0.7 0.7 86.2 81.1
## Riverfront Global Growth (CP) 13.0 15.8 15.8 8.8 10.8 8.4 15.8 25.3 -11.2 -1.4 -0.7 16.7 15.4 0.6 0.5 91.6 98.1
S200 Riverfront ETF Global Growth (CP) 13.9 15.6 15.6 8.8 10.8 8.5 15.6 25.3 -11.1 -1.4 -0.7 16.8 15.5 0.6 0.5 91.7 98.4
## Sage Advisory Services Profile 5 (CP) 16.3 13.9 13.9 9.0 10.5 9.0 13.9 27.2 -10.5 -1.9 0.1 17.3 15.0 0.5 0.6 94.2 105.4
S200 Stringer Asset ETF Growth (CP) 11.8 13.3 13.3 8.1 10.4 8.5 13.3 21.6 -8.3 -1.1 0.1 15.5 13.7 0.6 0.6 89.1 97.3
## Blended Benchmark 5 (48 SP 500 (TR) / 32 MSCI World ex US (Net) / 12 BB 13.4 13.8 13.8 10.0 12.2 9.0 13.8 27.2 -7.9 16.4 14.7 0.7 0.6
## Blended Benchmark 5 w/ Alts (47 SP 500 (TR) / 31 MSCI World ex US (Net) / 12.2 13.3 13.3 9.1 10.4 7.5 13.3 23.3 -7.0 14.5 12.5 0.6 0.6
Tactical
## Good Harbor Financial (W)(CP) -- -- -- -- -- -- -- 5.6 -5.7 -- -- -- -- -- -- -- --
## 50 / 50 BC Aggregate / S&P 500 -- -- -- -- -- -- -- -- -- -- -- -- --
## Standard & Poor's 500 12.2 18.4 18.4 14.2 15.2 13.9 18.4 31.5 -4.4 16.8 14.8 0.8 0.9

Returns are shown gross of fees unless otherwise noted. Returns represent each product's composite
(W) denotes a portfolio is on the Watch List. performance as reported to Informa Investment
(C) denotes a portfolio is on the Closed List. Solutions or RBC Wealth Management. Return information is deemed reliable, but has not been Based on calendar
(R) denotes a portfolio is on the Restricted List. independently verified by RBC Wealth Management. quarter returns
(CP) denotes a portfolio that may contain complex components.
* RBC UP overlay manager fee is 0.05%. Additional elected services such as tax overlay management services and/or impact investing/social screens is an additional 0.05%

FOR FINANCIAL ADVISOR USE ONLY. DO NOT DISTRIBUTE TO THE PUBLIC.

Sources: Management Companies, Informa Investment Solutions, Factset and RBC Wealth Management. | 22 |