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Global Equity Market Returns (%)

as of 03/31/2020 MSCI Indexes: Total Net Return as of 03/31/2020 * 3-Year, 5-Year, and 10-Year returns are annualized 10-Year* 5-Year* 3-Year* 1-Year 2.72 -0.62 -1.82 -14.38 6.57 3.25 1.92 -10.39 2.43 -0.76 -2.07 -14.89 2.05 -0.64 -1.96 -15.57 0.68 -0.37 -1.62 -17.69 2.19 -3.99 -6.84 -17.54 3.83 1.82 0.95 -6.69 4.38 3.57 7.05 -5.82 Source: Morningstar Direct, 03/31/2020. 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 marke