Wilshire Hybrid ETF Tax Sensitive Portfolios

The Wilshire Hybrid ETF Tax Sensitive Portfolios are a suite of six risk-based, strategic asset allocation portfolios investing in exchange traded funds (ETFs) and municipal bond mutual funds.

  • Risk-based, multi-asset class portfolios—Wilshire develops forward-looking, strategic forecasts based on proprietary institutional data to determine the asset allocation policy.
  • Dynamic management—Wilshire dynamically tilts the Portfolios, emphasizing asset classes and strategies that appear to be attractive and undervalued and de-emphasizing asset classes and strategies that are not.
  • Exchange traded funds/active municpal bond fund structure—The utilization of ETFs paired with municipal bond mutual funds allows the Portfolios to maintain a low cost, tax-efficient structure.

 
 

*Inception date: June 1, 2018
**Conservative Custom Benchmark: 73% Bloomberg Barclays Capital Municipal 1-15 year Index, 20% Wilshire 5000 Total Market Index, 5% MSCI ACWI ex U.S. IMI Index, 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 

*Inception date: June 1, 2018
**Moderate Conservative Custom Benchmark: 58% Bloomberg Barclays Capital Municipal 1-15 year Index, 29% Wilshire 5000 Total Market Index, 11% MSCI ACWI ex U.S. IMI Index, 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 

*Inception date: June 1, 2018
**Moderate Custom Benchmark: 43% Bloomberg Barclays Capital Municipal 1-15 year Index, 36% Wilshire 5000 Total Market Index, 19% MSCI ACWI ex U.S. IMI Index. 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 

*Inception date: June 1, 2018
**Moderate Growth Custom Benchmark: 28% Bloomberg Barclays Capital Municipal 1-15 year Index, 43.5% Wilshire 5000 Total Market Index, 26.5% MSCI ACWI ex U.S. IMI Index, 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 

*Inception date: June 1, 2018
**Growth Custom Benchmark: 13% Bloomberg Barclays Capital Municipal 1-15 year Index, 51.5% Wilshire 5000 Total Market Index, 33.5% MSCI ACWI ex U.S. IMI Index, 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 

*Inception date: June 1, 2018
**Aggressive Growth Custom Benchmark: 56% Wilshire 5000 Total Market Index, 42% MSCI ACWI ex U.S. IMI Index, 2% FTSE 3-Month U.S. T-Bill Index.
Custom benchmark has been adjusted to reflect asset class changes to the portfolio

Information Regarding Performance Data
The performance results above should be reviewed in the context of the markets applicable to the investment strategies noted. All returns for periods greater than one year are annualized. There are certain limitations in model performance as the model results will not completely represent the actual trading of securities in a client account. The results reflect reinvestment of all dividends and interest. Performance results reflect the deduction of the maximum Strategist Fee of 0.15%. However, actual client results will be lower based on the imposition of platform fees, advisory fees and custodial fees by third party firms. As with all investments, there is no guarantee that the investment strategy will be successful and investors should be aware that investments can lose money, including principal, so that an investor could end up with less money than was invested. Past performance is not indicative of future results, and processes used may not achieve the desired results.

It is not possible to invest directly in an index. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the index performance shown.

 
 
 
 
 
 

The graph above charts the Wilshire Hybrid ETF Tax Sensitive Portfolios from least risk/return potential (far left) to greatest risk/return potential (far right). Diversification and asset allocation do not guarantee a profit, nor do they protect against loss, including the loss of principal.

 

    Ticker Category
U.S. Equity Vanguard S&P 500 ETF VOO Large Blend
  Vanguard Value ETF VTV Large Value
  Vanguard Growth ETF VUG Large Growth
  Vanguard Extended Market ETF VXF Small/Mid Cap Blend
International iShares Core MSCI EAFE ETF IEFA Foreign Large Blend
  iShares Core MSCI Emerging Markets ETF IEMG Emerging Markets
Fixed Income Vanguard Tax-Exempt Bond ETF VTEB Intermediate Term Bond
  Nuveen Intermediate Duration Muni Bd I NUVBX Intermediate Term Bond
  Wells Fargo Short-Term Muni Bd Inst WSBIX Short-Term Bond
  MFS Municipal High Income I MMIIX High Yield
  Cash n/a Cash/Cash Equivalents
 

 

Important Information
This material is for information purposes only. Wilshire Associates uses mathematical and statistical investment processes to allocate assets, select managers and construct portfolios and funds in ways that seek to outperform their specific benchmarks. Past performance is not indicative of future results.

Investments in equities are subject to market risk so that shares, when redeemed, may be worth more or less than their original cost. Security prices can fluctuate significantly in the short term or over extended periods of time. These price fluctuations may result from factors affecting individual companies, industries, or the securities market as a whole. Investments in small-cap stocks may be subject to a higher degree of market risk than large-cap stocks, or more established companies’ securities. Furthermore, the illiquidity of the small-cap market may adversely affect the value of an investment. Investments in bonds are subject to interest rate, inflation, credit, currency and sovereign risks. Fixed income securities with credit ratings below BBB are considered to be “high yield securities,” sometimes called “junk bonds,” and carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. Investments in international securities involve additional risks including currency rate fluctuations, political and economic instability, differences in financial reporting standards, and less stringent regulation of securities markets. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries.

Investing in tax-free fixed income securities may be subject to other types of risk such as call, credit, liquidity, interest-rate and general market risks. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-free income. A portion of the income derived from the Portfolio may be subject to the Alternative Minimum Tax (AMT). State taxes may apply to some or all of the income derived from the Portfolio, depending on what state issues the underlying securities. Any capital gains realized may be subject to taxation. Investors should consult with a tax advisor for more information regarding taxation.

Model portfolios are exposed to the specific risks of the underlying funds in direct proportion to their percentage allocation. The ETFs and funds comprising the models and the allocations to those funds have changed over time and may change in the future.

Wilshire® is a registered service mark of Wilshire Associates Incorporated, Santa Monica, California. All other trade names, trademarks, and/or service marks are the property of their respective holders.

Copyright © 2019 Wilshire Associates Incorporated. All rights reserved. Information in this document is subject to change without notice.

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