Setting proper expectations is a good thing. Understanding the risk you take when you invest is an exercise in setting proper expectations. This seems like a healthy thing to do... so I made a video about it.

LINKS
- Learn more about Dallin https://dallincutler.com/
- Subscribe to the channel www.youtube.com/@UCtoiM6i5VxygpFXP6IWpgkg
- Should you have International Stock Exposure? https://www.youtube.com/watch?v=u68HborngK4

SOURCES
- Spectrum of Returns
Vanguard calculations, using data from Morningstar, Inc. / Stocks are represented by the Standard & Poor’s 90 Index from 1926 to March 3, 1957; the S&P 500 Index from March 4, 1957 through 1974; the Wilshire 5000 Index from 1975 through April 22, 2005; and the MSCI US Broad Market Index thereafter. / Bonds are represented by the S&P High Grade Corporate Index from 1926 through 1968; the Citigroup High Grade Index from 1969 through 1972; the Bloomberg Barclays U.S. Long Credit AA Index from 1973 through 1975; and the Bloomberg Barclays U.S. Aggregate Bond Index thereafter. / Data are through December 31, 2019
- Kwanti - https://kwanti.com/
- US Real Estate Returns
Represented by the iShares US Real Estate ETF / Data is from January 1st, 2000 to December 28th 2023
- Cash
Represented by 90 day T-bills
- Stocks (if S&P 500 Index not specifically mentioned)
Represented by the MSCI All Country World Index
- Small Cap Stocks
Represented by the Russell 2000 Index
- International Stocks
Represented by the International MSCI EAFE Index
- Bonds
Represented by the Barclays Global Bond Index
- Randomness of returns – Asset classes
In US dollars. US Large Cap is the S&P 500 Index, data © 2023 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. US Large Cap Value is the Russell 1000 Value Index. US Small Cap is the Russell 2000 Index. US Small Cap Value is the Russell 2000 Value Index. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. US Real Estate is the Dow Jones US Select REIT Index, data © 2023 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. International Large Cap Value is the MSCI World ex USA Large Cap Value Index (gross div.). International Small Cap is the MSCI World ex USA Small Cap Index (gross dividends). International Small Cap Value is the MSCI World ex USA Small Cap Value Index (gross dividends). Emerging Markets is the MSCI Emerging Markets Index (gross dividends). MSCI data © MSCI 2023, all rights reserved. One-Year US Fixed is the ICE BofA One-Year US Treasury Note Index, ICE BofA index data © 2023 ICE Data Indices, LLC. Five-Year US Government Fixed is the Bloomberg Treasury Bond Index 1–5 Years, Bloomberg data provided by Bloomberg. Five-Year Global Fixed is FTSE World Government Bond Index 1-5 Years (hedged to USD). FTSE fixed income indices © 2023 FTSE Fixed Income LLC. All rights reserved. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. Past performance is not a guarantee of future results.
- Randomness of returns – sector
In US dollars. Real Estate Investment Trusts (REITs) are shown as a separate category to illustrate their exclusion from certain funds. REITs are classified according to GICS Industry code. GICS was developed by and is the exclusive property of MSCI and S&P Dow Jones Indices LLC, a division of S&P Global. MSCI data © MSCI 2023, all rights reserved. The annual returns displayed are a breakdown of the sector returns from the Russell 1000 Index. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Index performance does not reflect the expenses associated with the management of an actual portfolio. For additional details on the methodology, please see “Appendix: Sector Methodology.”
Past performance is not a guarantee of future results.
- Randomness of returns – Country
In US dollars. MSCI country indices (net dividends) for each country listed. Does not include Israel, which MSCI classified as an emerging market prior to May 2010. MSCI data © MSCI 2023, all rights reserved.
Past performance is no guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.

DISCLOSURES
- Dallin works for EP Wealth Advisors
EP Wealth Advisors, LLC (“EP Wealth”) is a leading independent
registered investment adviser (“RIA”) on a mission to provide clients with honest and objective advice through personalized financial planning, customized investment portfolios, and integrated tax and estate planning.