Page 41 - MayDefComp

* 3-Year, 5-Year, and 10-Year returns are annualized
10-Year* 2.72 6.57 2.43 2.05 0.68 2.19 3.83 4.38 developed markets, excluding the
MSCI Indexes: Total Net Return as of 03/31/2020

5-Year* -0.62 3.25 -0.76 -0.64 -0.37 -3.99 1.82 3.57 measure the equity market of developed

3-Year* -1.82 1.92 -2.07 -1.96 -1.62 -6.84 0.95 7.05

1-Year -14.38 -10.39 -14.89 -15.57 -17.69 -17.54 -6.69 -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 markets. The MSCI Frontier Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of frontier markets. The MSCI Emerging Markets Index is designed to measure equity market performance of emerging markets. The MSC

Global Equity Market Returns (%)

as of 03/31/2020 markets.