We believe risk management is as important as raw performance.  That is why we show you a measure of portfolio volatility (Standard Deviation) along with performance.  We encourage you to examine our complete performance data here.

Lyon Capital Management

Asset Class Returns

As of 12/31/2022

strong performance, lower volatility

Past performance is not a guarantee of future results. Index returns do not reflect management fees and commissions. Gross performance results are presented before management fees.  Net performance results are presented after deducting a 1% management fee.  With a portfolio of larger than $1 million, fees are lower and net performance is higher.  See our fee schedule in Part 2 of the Firm’s SEC form ADV brochure.

IMPORTANT: Please read relevant disclosures detailed here: Disclosures

We encourage you to examine our complete performance data here.

An explanation of the indices used to illustrate the application of our investment strategy is as follows:

·   Russell 1000® Value Index- This index measures the performance of the large-cap and mid-cap value segment of the U.S. equity universe. It includes Russell 1000® companies with relatively lower price-to-book ratios, lower Institutional Brokers’ Estimate System (I/B/E/S) forecast of medium-term (2 years) growth, and lower sales per share historical growth (5 years). It is commonly used as a measure of U.S. large-cap and mid-cap equity value investments, an investing style similar to that of Lyon Capital Management LLC.

·   S&P 500® Index- This index measures the performance of 500 public companies in leading industries of the U.S. economy. It is designed to reflect the risk/return characteristics of the large-cap U.S. equity universe. It is commonly used as a measure of the performance of the entire U.S. stock market.

·   Bloomberg US Government/Credit Bond Index- This index (formerly Barclays Capital, formerly Lehman Brothers Gov’t/Credit index) measures the non-securitized component of the U.S. Aggregate Index, which measures the performance of U.S. dollar-denominated U.S. Treasury bonds, government-related bonds, and investment-grade U.S. corporate bonds with a maturity of greater than or equal to one year. It is commonly used as a measure of the performance of fixed income securities.

·   The Consumer Price Index (CPI)- This index (also know and used as the inflation index) is a measure calculated by the US. Department of Labor and is the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is commonly used as a portfolio measure to ensure that an investor is “keeping up with inflation”.