Different Perspectives on Performance*

Over the past 75 years, stocks have recorded an average 12-month total return of 12.50%. But there have been many periods when they have significantly outperformed or underperformed this average.

*Source: ChartSource®, DST Systems, Inc. Past performance does not guarantee future results. Based on 12-month returns from January 1, 1926, through December 31, 2015. Stocks are represented by the total returns of the S&P 500 index, which measures the performance of 500 stocks representing all major industries. Bonds are represented by a composite of the total returns of long-term government bonds (10+ years), derived from yields published by the Federal Reserve and the Barclays Aggregate Bond index. Cash is represented by a composite of yields on 3-month Treasury bills and the Barclays 3-Month Treasury Bills index. Indexes are unmanaged and cannot be directly invested into. Past performance is not a guarantee of future results. (CS000127)