While I was at the gym, I realized there's something else out of whack on the naked S&P side. What a coincidence -- when I was at the gym I realized a simple way to do all rolling 12-month returns. And, as you said, something was wrong with the IUL figures I posted.Doesn't change the big picture, just makes it less bad. ;-)I came up with a simple sanity-check spreadsheet. I believe the computations are correct, but please y'all take a look and see if you spot any errors.Dang, all the free file sharing sites I used to use have all disappeared.I send it to this open email site: http://www.yopmail.com/en/Just enter " iul-spreadsheet " as the address and hit "Check Inbox." No login or registration required.They say it will stay there for 7 days, so grab it fast.Any corrections? Just email your updated sheet back to there.