The Risk Level is a measure of risk, expressed as a percentage, whereby in any given year, there is a 1% probability that you’ll lose more than this percentage in terms of the portfolio’s value.
These are the Risk Level brackets for Flexible Portfolios.
For example, if a Flexible Portfolio has a Moderate Risk Level, it means that there is a 1% chance that the portfolio will lose more than 19% of its value in any given year.
Generally, a higher Risk Level percentage denotes a more risky portfolio, and thus should be accompanied with a longer term investment horizon.