How Asset Classes Stacked Up Over Time

Historical Annual Stock Returns Have Varied Widely by Asset Class (As of 12.31.2024)

2015201620172018201920202021202220232024
Large Growth 5.67%
REITs 2.29%
Broad Market 1.38%
Mid Growth -0.20%
International -0.81%
Small Growth -1.38%
Large Value -3.83%
Mid Value -4.78%
Small Value -7.47%
Emerging Markets -14.92%
Small Value 31.74%
Mid Value 19.99%
Large Value 17.34%
Broad Market 11.95%
Small Growth 11.31%
Emerging Markets 11.18%
REITs 9.28%
Mid Growth 7.32%
Large Growth 7.07%
International 1.00%
Large Growth 30.21%
Mid Growth 25.27%
International 25.03%
Small Growth 22.17%
Broad Market 21.83%
Large Value 13.66%
Mid Value 13.34%
Small Value 7.84%
Emerging Markets 5.77%
REITs 4.18%
Large Growth -1.51%
Broad Market -4.38%
Mid Growth -4.75%
REITs -4.84%
Large Value -8.27%
Small Growth -9.31%
Mid Value -12.29%
Small Value -12.86%
International -13.82%
Emerging Markets -14.58%
Large Growth 36.39%
Mid Growth 35.47%
Broad Market 31.49%
Small Growth 28.48%
Mid Value 27.06%
Large Value 26.54%
REITs 25.76%
Small Value 22.39%
Emerging Markets 18.42%
International 17.63%
Large Growth 38.49%
Mid Growth 35.59%
Small Growth 34.63%
Broad Market 18.40%
Emerging Markets 18.31%
International 7.82%
Mid Value 4.96%
Small Value 4.63%
Large Value 2.80%
REITs -7.90%
REITs 46.18%
Broad Market 28.71%
Mid Value 28.34%
Small Value 28.27%
Large Growth 27.60%
Large Value 25.16%
Mid Growth 12.73%
International 11.26%
Small Growth 2.83%
Emerging Markets -2.54%
Large Value -7.54%
Mid Value -12.03%
International -14.45%
Small Value -14.48%
Broad Market -18.11%
Emerging Markets -20.09%
Small Growth -26.36%
Mid Growth -26.72%
REITs -26.81%
Large Growth -29.14%
Large Growth 42.68%
Broad Market 26.29%
Mid Growth 25.87%
Small Growth 18.66%
International 18.24%
Small Value 14.65%
REITs 13.73%
Mid Value 12.71%
Large Value 11.46%
Emerging Markets 9.83%
Large Growth 33.36%
Broad Market 25.02%
Mid Growth 22.10%
Small Growth 15.15%
Large Value 14.37%
Mid Value 13.07%
REITs 8.73%
Small Value 8.05%
Emerging Markets 7.50%
International 3.82%

 

 

Russell 1000® Value Index measures the performance of large companies within the Russell 3000® Index that have lower forecasted growth values compared with the overall large-cap market.

Russell 1000® Growth Index measures the performance of large companies within the Russell 3000® Index with greater-than-average growth orientation compared with the overall large-cap market.

S&P 500® Index is a capitalization-weighted index of 500 stocks designed to measure the performance of the broad economy, representing all major industries.

FTSE NAREIT Equity REIT Index is a free float-adjusted index of REITs that own, manage and lease investment grade commercial real estate.

MSCI EAFE Index, the Morgan Stanley Capital International Europe, Australasia and Far East Index (MSCI EAFE), is a capitalization-weighted measure of stock markets in Europe, Australasia and the Far East.

Russell 2000® Value Index measures the performance of small companies within the Russell 3000® Index that have lower forecasted growth values compared with the overall small-cap market.

Russell 2000® Growth Index measures the performance of small companies within the Russell 3000® Index with greater-than-average growth orientation compared with the overall small-cap market.

Russell Midcap® Value Index measures the performance of those Russell Midcap® companies with lower price-to-book ratios and lower forecasted growth values.

Russell Midcap® Growth Index measures the performance of those Russell Midcap® companies with higher price-to-book ratios and higher forecasted growth values.

MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.

Diversification Benefit of Core Bond Holdings

Historical Annual Bond Returns by Asset Class (As of 12.31.2024)

2015201620172018201920202021202220232024
Municipals 3.30%
Low Duration 0.66%
Investment Grade 0.55%
Cash 0.03%
Leveraged Loan -0.38%
I.G. Corporates -0.68%
U.S. Treasury -1.21%
High Yield -4.47%
High Yield 17.13%
Leveraged Loan 9.88%
I.G. Corporates 6.11%
Investment Grade 2.65%
U.S. Treasury 1.33%
Low Duration 1.31%
Cash 0.27%
Municipals 0.25%
U.S. Treasury 8.53%
High Yield 7.50%
I.G. Corporates 6.42%
Municipals 5.45%
Leveraged Loan 4.25%
Investment Grade 3.54%
Low Duration 0.86%
Cash 0.84%
Cash 1.87%
Low Duration 1.60%
Municipals 1.28%
Leveraged Loan 1.14%
Investment Grade 0.01%
U.S. Treasury -1.84%
High Yield -2.08%
I.G. Corporates -2.51%
U.S. Treasury 14.83%
I.G. Corporates 14.54%
High Yield 14.32%
Investment Grade 8.72%
Leveraged Loan 8.17%
Municipals 7.54%
Low Duration 4.04%
Cash 2.28%
U.S. Treasury 17.70%
I.G. Corporates 9.89%
Investment Grade 7.51%
High Yield 7.11%
Municipals 5.21%
Low Duration 3.08%
Leveraged Loan 2.78%
Cash 0.67%
Leveraged Loan 5.40%
High Yield 5.28%
Municipals 1.52%
Cash 0.05%
Low Duration -0.49%
I.G. Corporates -1.04%
Investment Grade -1.54%
U.S. Treasury -4.65%
Cash 1.46%
Leveraged Loan -1.06%
Low Duration -3.72%
Municipals -8.53%
High Yield -11.19%
U.S. Treasury -12.46%
Investment Grade -13.01%
I.G. Corporates -15.76%
High Yield 13.44%
Leveraged Loan 13.04%
I.G. Corporates 8.52%
Municipals 6.40%
Investment Grade 5.53%
Cash 5.01%
Low Duration 4.65%
U.S. Treasury 4.05%
Leveraged Loan 9.05%
High Yield 8.19%
Cash 5.25%
Low Duration 4.39%
I.G. Corporates 2.13%
Investment Grade 1.25%
Municipals 1.05%
U.S. Treasury 0.58%

 

 

Bloomberg U.S. Corporate High Yield Index measures the USD-dominated high yield, fixed-rate, corporate bond market.

Bloomberg U.S. Municipal Index covers the USD-denominated long-term tax exempt bond market.

Bloomberg U.S. Long Treasury Index measures U.S. dollar-denominated, fixed-rate, nominal debt issued by the U.S. Treasury.

Bloomberg U.S. Aggregate Bond 1-3 Year Index measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market with maturities of one to three years.

Bloomberg U.S. Corporate Bond Index measures the investment grade, fixed-rate, taxable corporate bond market.

Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S.dollar-denominated, fixed-rate taxable bond market.

S&P UBS Leveraged Loan Index is designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market.

ICE BofA 3-Month U.S. Treasury Bill is an unmanaged market index of U.S. Treasury securities maturing in 90 days that assumes reinvestment of all income.

Source: Zephyr Associates, Inc. Past performance does not guarantee future results. Index performance is for illustration purposes only and is not meant to represent any particular fund. Returns do not reflect any management fees, transaction costs or expenses. The index is unmanaged and not available for direct investment. Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.

Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“Guggenheim”). Securities offered through Guggenheim Funds Distributors, LLC. Guggenheim Funds Distributors, LLC is affiliated with Guggenheim Partners, LLC.

Not FDIC insured. Not bank guaranteed. May lose value. Member FINRA/SIPC GISI-HSBR-0225 x1225 #63809

 


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