<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=2893641&amp;fmt=gif">

Average Annual Return

Formula: (Sum ROR for each calendar year in program history)/(number of calendar years in program history)

Example: ABC program

Start Date: Oct. 1995
End Date: Aug. 1998
(Sum ROR 1996, ROR 1997)/2