EFTA01458985.pdf

Figure 8: S&P 500 ii.thitied Sector and Industry Allocation {201475 PE basr.d on OS US Equity ;Mateyly top loud secret and industly EPS emitnate,$) 02 2O15/16 PE o F 3 20.0 7006 2010 2010 Pe PE Ovanwaleht PT PT Equalvealght Pt PI undvivee.oht 68.80.0.626. 144 120 He. t• C.,. le S 163 166 Heat .6 eve ell.gan‘erd. 61.6085 216 203 rO 1016% 20.0% thethCont 171 16.1 Heat n Cato lechnorog. 276 241 O IT LSO SC antes T00% &Senna*, 101 164 Per mactrocals 177 ISO Irecnnaoar IlarcLvtae. 516' ape & Pera>600 11 9 11 7 %%Veal 5 Oltwer• & Serve ere 300 267 rra.,...."I.0., sTriorYCO4 ISO 175 Oven 212% 26 0% 17 4 18.3 Sr a endue' er• 160 163 weight lecanolOPI software 21 3 201 Cernorrencetroas equereen; 12 3 11 0 Olacarone equpeetat 170 16n Electric litre.% IA 6 143 Ga• threes 213 '00 28% 60% I.6.11 46 16.4 140 indspertiont Pewee PloduCet • 106 91 Mut•Utene• MP 164 v] et. T I 1 7 Ietteareesuncatrenanycea 12 • 127 rt.te 11 Ill orraarne. pence II 3 I C•ot PM& sale 147 136 Owe% s Need F.nanc el Serve at 20 • lee norease tt I21 II6 164% 16 6% %no% els 13.7 13.0 I rune Ili 6 17 • Real E LI at e RIOrnt StOeveo0Oreent Ili MO 70011•41.030tptate Frnanc• 332 11 8 Auto Compeer% 134 120 09817060elaaraner ben/e% 104 108 6 Clu•l- Autornobto• 84 80 WAS% Restaur ant• & Ls ser• 24.6 224 Welted Dratresrtere 103 ISO Tattle% Aner04 8t lux0, 1 00006 238 217 retwateartd Curate& 164 146 Caesura& 13.1% 13.0% 200 10.3 Lettere PrOCIuCt a 206 103 CalIentlatnary 2.4A Ono not ail I63 143 50% ell v Retto 21 1 190 trail r% & CO-148611Rani 81 6 ea 2 Mecbre 181 17 1 670 SUMPS ete.ng 181 170 evenagee 228 220 Feud Ptocket• 24.4 234 21 0 20.6 -I stat:Ad 16009CIS 20.• SO Et • - trerl 76.879.1. 27.4 240 0 203 200 Aretnee 77 03 8.1300.666..-- 8. 239 27 • ' ....78CC0806arate0 22.7 216 A. Fro074 & LOOrata* 19I I" • • IMCs& Delense 17.2 101 Centeno/66 Serves* &Sutourn 101 It' . .1•6ctron & Enures...0 14.0 140 00-00. 6 104 16.1 PrOleaGrenel Server:re 10 6 I' . ' <6 eq...ernem 10 9 SO 0 ..°0 6" Road &Hat 103 159 • 10 3C.0 8.9 87% & Detrre6t on 16.7 160 Cnaersrt•ro 17I I'. . ' •6.ct ten Met agree 43.2 300 . • 6.0ra& Pet 03060 010 153 V7 '6.0 . r & &Lane 29.0 190 .. &Forest Products 106 100 3v 3.66960% &50-6663 206 203 3., D 23 6 .5t. & Con s 06 eve rues 296 12 0 Argpo/poto PE el 08 Industry allocations 06Per.0461 15.6 14 II I CIU•Snliht 17.5 15.5 u...i..,..,,,,h: 2, 1. "-c. 3 2016 & 2018 CIS Strongly EPS 115.0 125.0 2015 & 2015 DO Strategy PE 17.2 15.4 5&P 600 Index 2040.02 Bottom -up Cone. EPS 115.4 125.1 Bottom -up Cone. PE 17.3 16.0 Deutsche Bank AG/London Sans 004121.9 6.4 lismontr. 10.1 David Bianco.(!) Ju Wang, PI Mimic NO (1) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119163 CONFIDENTIAL SDNY_GM_00265347 EFTA01458985