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86 © 2024 Envestnet, Inc. All rights reserved. For one-on-one use with a client's financial advisor only. Winners Took (Almost) All Breakdown of returns for individual stocks in the Russell 3000 Total Return Index during the dataset period. Each security return and excess return is measured over its lifetime. Past performance is not a guarantee of future results. Research produced by Aperio using data obtained from MSCI, January 1, 1987‒June 30, 2023. Index returns do not reflect deducting fees, expenses, and transaction costs. Index returns reflect the reinvestment of dividends, capital gains, and interest. Security returns are gross of all fees and transaction costs calculated by MSCI. Excess return is defined as security return net of benchmark return. Indexes are unmanaged groups of securities. You cannot invest directly in an index. Bottom 1% , - 3749% Top 1% , 42537% 0 5 1 0 1 5 2 0 2 5 3 0 3 5 4 0 4 5 5 0 5 5 6 0 6 5 7 0 7 5 8 0 8 5 9 0 9 5 1 0 0 Average excess return Percentile This Russell 3000 Total Return Index dataset was divided into percentiles by each security's cumulative excess return during the test period, with 1 being the lowest-performing group and 100 being the highest. Then, averages of each group's excess lifetime security returns were reflected in this graph. 20251017-4912642