Issue link: https://resources.envestnet.com/i/1540867
91 Returns, Yields, and Correlations Source: J.P. Morgan Asset Management. Correlations are based on quarterly returns over the past 10 years from 4Q14 through 3Q24. A 60/40 portfolio is comprised of 60% stocks and 40% bonds. Stocks are represented by the S&P 500 Total Return Index. Bonds are represented by the Bloomberg U.S. Aggregate Total Return Index. 10-year annualized returns are calculated from 1Q14-4Q23. CML – Senior: Market-capitalization weighted average for all mortgages in the Gilberto-Levy Commercial Mortgage Index. Transport: Levered yields for transport assets calculated as the difference between charter rates (rental income), operating expenses, debt amortization and interest expenses, as a percentage of equity value, and are based on a historical 15-year average. Yields for each of the sub-vessel types are calculated and respective weightings are applied to arrive at the current levered yields for Global Transportation; Direct Lending: Cliffwater Direct Lending Index; Infrastructure: MSCI Global Private Infrastructure Asset Index; Europe Real Estate: Market weighted-avg. of MSCI Global Property Fund Indices – U.K. & Cont. Europe; U.S. and Asia Pacific (APAC) core real estate: MSCI Global Property Fund Index Private Equity and Venture Capital are time weighted returns from Burgiss. Hedge fund indices are from HFRI. © 2025 Envestnet, Inc. All rights reserved. For one-on-one use with a client's financial advisor only. -0.6 15% -0.4% -0.2 0.0 10% 0.2 5% 1.0 20% 0.4 0.6 0.8 Trailing 10-Year Correlation to 60/40 Portfolio 10-Year Annualized Return Private Equity Venture Capital Direct Lending CML - Senior Infrastructure Transport Hedge Funds U.S. Core Real Estate APAC Core Real Estate Europe Core Real Estate Hedge Funds Private Markets Infrastructure Real Estate Bubble Size = Yield 3% 0% 20251017-4912642