luck adj winnings vs Rake

[F5E]

maybe a dumb question but in the reports > winnings summary > luck adjusted winnings (red line)

does this red line include the rake paid ?

or in other words : let's say I play 100 HU tournaments and for the sake of simplicity I have exactly 50% EV in each of them I would get a flat red line if I'm correct, but if the rake is 5% then the red line is straight going down a 5% slope, am I correct ?

thanks in advance

[Patvs]

Yes. With 5% rake... the winnings line would go down in a 5% slope (if you win 50% of your games).
And the EV line would follow the winnings line, also going down in a 5% slope.