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Returns

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Disparity between investor returns vs. fund returns: 10 years ended December 31, 2017

Disparity between investor returns vs. fund returns; 10 years ended December 31, 2017.png

Developed market government bond yield distribution, 2014-2019

Developed market government bond yield distribution, 2014-2019.png

A miss on rate predictions on the 10-year treasury note

A miss on rate predictions on the 10-year treasury note.png

While duration increases, the yield per unit of duration has been decreasing since 1986

While duration increases, the yield per unit of duration has been decreasing since 1986.png

S&P 500 value vs. growth compared to sector performance since 1990

S&P 500 value vs. growth compared to sector performance since 1990.png

Relative performance of value and growth: U.S. equity since 1980

Relative performance of value and growth; U.S. equity.png

Relative performance of U.S. equity and U.S. bonds since 1980

Relative performance of U.S. equity and U.S. bonds since 1980.png

Relative performance of U.S. equity and non-U.S. equity since 1980

Relative performance of U.S. equity and non-U.S. equity since 1980.png

Relative performance of large-cap and small-cap U.S. equity since 1980

Relative performance of large-cap and small-cap U.S. equity since 1980.png

Relative performance of developed and emerging-market equity since 1980

Relative performance of developed and emerging-market equity since 1980.png

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