The purpose of this graph is to illustrate the long-term cycles in the market and the magnitude by which large U.S. stocks have outperformed Everything Else or visa versa. The number on the graph is a measure of that magnitude and represents the 10-year compounded annual difference in return of investing a $1 in large U.S. stocks and $1 in the average of Everything Else. In an effort of full transparency, following is an explanation of how the calculations are done and some sample extreme data points.

The blue highlighted numbers in the table represent the 10-year compounded return ending 5/31/1982 for each of the asset classes. These are the Everything Else asset classes. For this same period, large U.S. stocks produced a 4.9% compounded return. The Difference is simply subtracting the asset class return from the return of large U.S. stocks. The average Difference is at the far right in the table equaling -6.3%. This is the first data point on the Performance Cycles graph on the far left.

The blue highlighted numbers in the table represent the 10-year compounded return ending 11/30/1999 for each of the asset classes. These are the Everything Else asset classes. For this same period, large U.S. stocks produced a 17.8% compounded return. The Difference is simply subtracting the asset class return from the return of large U.S. stocks. The average Difference is at the far right in the table equaling +7.0%. This is the highest data point toward the middle on the Performance Cycles graph.

The blue highlighted numbers in the table represent the 10-year compounded return ending 2/28/2009 for each of the asset classes. These are the Everything Else asset classes. For this same period, large U.S. stocks produced a -3.4% compounded return. The Difference is simply subtracting the asset class return from the return of large U.S. stocks. The average Difference is at the far right in the table equaling -8.1%. This is the lowest data point toward the middle right on the Performance Cycles graph.

The blue highlighted numbers in the table represent the 10-year compounded return ending 9/30/2019 for each of the asset classes. These are the Everything Else asset classes. For this same period, large U.S. stocks produced a 13.2% compounded return. The Difference is simply subtracting the asset class return from the return of large U.S. stocks. The average Difference is at the far right equaling 6.0%. This is the last data point on the Performance Cycles graph.

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Below is a table showing the data and calculations for every month-end. This is always updated with the most recent available data. When selecting the bullet "**Returns Compared to Large U.S. Stocks**", a live graph will appear below the table. Furthermore, you can choose which asset classes to include in the calculations and graph by selected the checkmarks in the column headings in the table.