Page 93 - FebDefComp

Global Equity Market Returns (%)

as of 12/31/2019 MSCI Indexes: Total Net Return as of 12/31/2019 * 3-Year, 5-Year, and 10-Year returns are annualized 10-Year* 5-Year* 3-Year* 1-Year 5.50 5.67 9.56 22.01 9.47 8.74 12.57 27.67 5.32 5.42 9.34 22.49 4.97 5.51 9.87 21.51 3.68 5.61 11.57 18.42 5.18 3.89 6.27 20.77 6.59 7.70 8.92 19.61 5.34 7.49 15.56 23.46 Source: Morningstar Direct, 12/31/2019. The MSCI All Country World Index (ACWI) is a free-float-adjusted, market-capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI F