Issue link: https://resources.envestnet.com/i/1540867
22 © 2025 Envestnet. All rights reserved. For home office and advisor use only. Growth vs. Value Asset Class – Calendar Year Excess Returns Growth Outperforming Value Outperforming Source: YCharts. YTD as of 9/30/2025. Chart represents calendar year excess returns of Russell 1000 Growth vs. Russell 1000 Value total return benchmarks. 23% 26% -29% -15% -12% 0% -10% -2% -13% 12% -2% 18% 1% 2% -2% 1% 0% 9% -10% 17% 7% 10% 36% 2% -22% 31% 19% 6% 1998 2001 2004 2007 2010 2013 2016 2019 2022 YTD 20251017-4912642