Embodiments calculate a customized performance benchmark for a stable value fund by incorporating client-specific factors and calculating an overall crediting rate, as if the assets underlying the wrap contracts and insurance separate account contracts were invested in the market indices to which the fund's portfolio strategies are benchmarked, rather than being invested in the actual underlying portfolios of the fund. The resulting benchmark translates market benchmark returns into book value returns and resulting market value to book value ratios, to compare to the actual stable value fund performance. The crediting rate process accounts for the yields, durations, and returns of the market value benchmarks in addition to client-specific cash flows and market value to book value ratios.