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Bloomberg commodity index since 2001

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Asset class returns

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International: Price-to-earnings discount and difference in dividend yields vs. US since 2002

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MSCI EAFE and MSCI USA relative performance since 1971

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Weights in MSCI all country world index and representation of key sectors in international markets

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Bloomberg US aggregate intra-year declines vs. calendar year returns since 1976

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US home price growth by city, housing affordability index since 1981, and credit score at mortgage origination since 1999

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S&P intra-year declines vs. calendar year returns since 1980

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S&P 500 index: Forward P/E ratio since 1997

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Country ETFs: 2022 total returns (in US$) as of 12/31/22

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