Page 296 - DCAC February 2024 Files

Diversification is an effective tool for patient investors in all market environments.
Periodic Table of Returns, 2014 to 2023
Periodic Table of Returns | 2014‐2023
2019 2023 2022 2021 2020 Midstream U.S. Equity REITs U.S. Equity U.S. Equity High Energy 26% 31% 46% 21% 31% Midstream Hedge Midstream Emerging REITs Energy Funds Energy Markets 24% -5% 41% 18% 26% Diversified Diversified Int'l Equity U.S. Equity Int'l Equity Portfolio Portfolio 18% -12% 26% 10% 22% Diversified U.S. Fixed Diversified H

2018 U.S. Fixed Income 0% Hedge Funds -3% REITs -5% U.S. Equity -5% Diversified Portfolio -6% Midstream Energy -12% Int'l Equity -14% Emerging Markets -15%

Emerging Markets 37% Int'l Equity 25% U.S. Equity 21% Diversified Portfolio 14% Hedge Funds 8% REITs 4% U.S. Fixed Income 4% Midstream Energy -9%

Midstream Emerging Diversified U.S. Fixed Hedge
2016 Energy 19% U.S. Equity 13% Markets 11% Portfolio 8% REITs 7% Income 3% Int'l Equity 1% Funds 1%

2015 REITs 4% U.S. Fixed Income 1% U.S. Equity 0% Hedge Funds 0% Int'l Equity -1% Diversified Portfolio -3% Emerging Markets -15% Midstream Energy -32% Source: Innovest Portfolio Solutions and Morningstar Direct.

2014 REITs 32% U.S. Equity 2017 13% Midstream Energy 8% Diversified Portfolio 7% U.S. Fixed Income 6% Hedge Funds 3% Emerging Markets -2% Int'l Equity -5%

High Low