Monthly Market Recaps

5 © 2025 Envestnet, Inc. All rights reserved. For one-on-one use with a client's financial advisor only. Getting Tariff-ied US tariffs haven't been this high since 1939 Historical data from Bloomberg. Estimate by Envestnet. 14% 0% 5% 10% 15% 20% 25% 30% 1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 US Effective Tariff Rates Historical Tariff Rate Estimated Tariff Rate 20251017-4912642

• QUARTERLY CHART BOOK
• Your New Chart Book
• ECONOMICS
• US Inflation Rates
• Getting Tariff-ied
• Interest Rates
• Yield Curve
• Unemployment and Income
• US GDP Growth
• International GDP Growth
• 10-2 Year Yield Spread
• Consumer Sentiment & Stocks
• US Housing Market
• Federal Reserve Update
• Futures Market Implied Federal Funds Rate
• Conference Board Leading Indicator
• Conference Board Coincident Indicator
• Conference Board Lagging Indicator
• MARKETS
• Q3 Market Recap
• Q3 Market Recap (1)
• Growth vs. Value
• Growth vs. Value (1)
• Asset Class Returns: 20-Year Snapshot | PMC Research Analysis
• Fixed Income Asset Class Returns: 10-Year Snapshot
• Stock Market Cycles
• Bond Market Cycles
• Stock Market Cycles (1)
• Canadian Stock Market Cycles
• Canadian Bond Market Cycles
• Stock Market Valuation
• Valuations Favor Value
• Stock Market Valuation (1)
• S&P 500 Inflection Points
• Shifting Rates
• Municipal Bond Market Yields
• Higher Corporate Yields
• US Vs. International Stock Market Performance
• S&P 500 Annual Returns & Intra-Year Declines
• Russell 2000 Annual Returns & Intra-Year Declines
• MSCI EAFE Annual Returns & Intra-Year Declines
• Number of Days the S&P 500 Rose or Fell More Than 1%
• Number of Days the Russell 2000 Rose or Fell More Than 1%
• Number of Days the MSCI EAFE Rose or Fell More Than 1%
• The S&P 500's Market Cycles Since 1958
• Frequency of S&P 500 Annual Returns (1990–2024)
• Frequency of 60/40 Annual Returns (1997–2024)
• Annual Returns Since 1979
• S&P 500 Return Sequence
• Pullbacks Historically Precede Gains
• Dispersion of S&P 500 Constituent Returns in 2024
• Dispersion of Russell 2000 Constituent Returns in 2024
• Dispersion of MSCI EAFE Constituent Returns in 2024
• US Bond Market
• The Big 5 Factors
• What Is A Factor, Anyway?
• Factors and Efficient Markets
• Factor Cycles
• Multi-Factor Investing
• Big 5 Factors' US Performance
• Big 5 Factors' US Performance (1)
• US Factor Correlations
• US Factor Risk/Reward Metrics
• Big 5 Factors' International Performance
• Big 5 Factors' International Performance (1)
• International Factor Correlations
• International Factor Risk/Reward Metrics
• US Municipal Bond Market Returns
• Dividends as a % of Total S&P 500 Returns
• US Corporate Bond Yields
• PORTFOLIO STRATEGY
• Missing The Best Days
• Historical Drawdowns & Recoveries
• Tax Optimization
• Investors Often Focus on Fees, Not Taxes
• Even in Rising Markets, Many S&P 500 Stocks Fall. These Losses May Be Harvested.
• Even in Rising Markets, Many Russell 2000 Stocks Fall. These Losses May Be Harvested.
• Even in Rising Markets, Many MSCI EAFE Stocks Fall. These Losses May Be Harvested.
• Percentage of S&P 500 Stocks Experiencing An Intra-Year Drawdown Greater Than 20%
• Percentage of Russell 2000 Stocks Experiencing An Intra-Year Drawdown Greater Than 20%
• Percentage of MSCI EAFE Stocks Experiencing An Intra-Year Drawdown Greater Than 20%
• Annualized Range of Returns
• Historical Likelihood of Returns
• Return Sequencing Illustration
• The Index Beats Most Single Stocks
• Winners Took (Almost) All
• Catastrophic Loss by Sector
• Municipal Bonds
• Diversification with Alternative Investments
• Manager Return Dispersion
• Returns, Yields, and Correlations
• Slide Number 92
• Disclosure