EQUI-VEST - AXA Equitable

Financial Highlights (cont’d)
EQ/Marsico Focus Portfolio(q):
Class IA
Class IB
Year Ended December 31, Year Ended December 31,
2007(e) 2006(e) 2005(e) 2004 2003 2007(e) 2006(e) 2005(e) 2004 2003
Net asset value, beginning of year ....... $ 16.90 $ 15.86 $ 14.67 $ 13.24 $ 10.07 $ 16.78 $ 15.75 $ 14.59 $ 13.20 $ 10.07
Income from investment
operations:
Net investment income ............. 0.09 0.07 0.03 0.01 —# 0.05 0.03 (0.01)† (0.02) (0.02)
Net realized and unrealized gain on
investments and foreign currency
transactions ................... 2.30 1.42 1.56 1.42 3.17 2.27 1.41 1.56 1.41 3.15
Total from investment operations ..... 2.39 1.49 1.59 1.43 3.17 2.32 1.44 1.55 1.39 3.13
Less distributions:
Dividends from net investment
income ....................... (0.08) (0.07) (0.01) — — (0.03) (0.03) — — —
Distributions from realized gains ...... (1.51) (0.38) (0.39) — — (1.51) (0.38) (0.39) — —
Total dividends and distributions ...... (1.59) (0.45) (0.40) — — (1.54) (0.41) (0.39) — —
Net asset value, end of year ........... $ 17.70 $ 16.90 $ 15.86 $ 14.67 $ 13.24 $ 17.56 $ 16.78 $ 15.75 $ 14.59 $ 13.20
Total return ....................... 14.33% 9.55% 10.98% 10.80% 31.48% 14.08% 9.35% 10.65% 10.53% 31.08%
Ratios/Supplemental Data:
Net assets, end of year (000’s) ......... $1,968,509 $1,406,085 $1,014,881 $579,357 $338,365 $2,628,736 $2,250,340 $1,768,738 $1,257,708 $903,595
Ratio of expenses to average net assets:
After waivers .................... 0.90% 0.90% 0.90% 0.90% 0.90% 1.15% 1.15% 1.15% 1.15% 1.15%
After waivers and fees paid indirectly . . . 0.90% 0.89% 0.89% 0.87% 0.85% 1.15% 1.14% 1.14% 1.12% 1.10%
Before waivers and fees paid
indirectly ..................... 0.98% 0.95% 0.92% 0.94% 0.97% 1.23% 1.20% 1.17% 1.19% 1.22%
Ratio of net investment income (loss) to
average net assets:
After waivers .................... 0.50% 0.46% 0.19% 0.05% (0.07)% 0.26% 0.20% (0.06)% (0.20)% (0.32)%
After waivers and fees paid indirectly . . . 0.50% 0.46% 0.20% 0.08% (0.02)% 0.26% 0.21% (0.05)% (0.17)% (0.27)%
Before waivers and fees paid
indirectly ..................... 0.42% 0.40% 0.17% 0.01% (0.14)% 0.18% 0.15% (0.08)% (0.24)% (0.39)%
Portfolio turnover rate ................ 71% 66% 66% 96% 72% 71% 66% 66% 96% 72%
Effect of contractual expense limitation
during the year:
Per share benefit to net investment
income ....................... $ 0.01 $ 0.01 $ —# $ 0.01 $ —# $ 0.01 $ 0.01 $ —# $ 0.01 $ —#
214 Financial Highlights EQ Advisors Trust