Hmm wasn't sure how to categorize this... but something interesting that we may have all thought about before. Why a time-based average (5 year average) might be misleading.. and why smoother equity curves are better for the long run due to compounding. Haven't done any sharpe or sortino calculations... just whipped this up in excel. Trader A has the smoothest equity curve, with consistent 10% gains year over year. Trader B has an almost-smooth curve.. fluctuates from 12% gains to 8% gains yearly. Trader C is more volatile, going from -10% drawdown to 30% gain. Trader D is the most volatile, experiencing a 20% drawdown and 50% gain. All traders' results are displayed on a 5-year chart. Average gain for each trader per year? 10%. Results? Way different. Thoughts?