(PUB) Investing 2015

12

March Madness Market Overview | Leo Acheson

Benchmark Performance

Total Return % Through

A N N U A L I Z E D

03-31-15

1Mo YTD 3Yr

5Yr

10Yr

Large Growth Large Blend Large Value

-1.0 3.4 15.1 13.9 8.5 -1.3 1.1 14.9 13.0 7.3 -1.4 0.2 14.4 12.2 6.7 0.7 5.4 15.0 14.5 9.2 0.1 3.3 15.7 13.7 8.4 0.0 2.6 16.3 13.7 8.4 1.6 5.8 15.2 15.1 9.2 1.5 3.6 14.9 13.7 8.3 1.2 2.3 14.3 12.6 7.9 -0.8 2.3 10.7 9.7 6.2 -0.5 1.5 5.9 6.5 5.1 -0.7 1.8 9.4 9.0 6.3 -3.4 2.1 11.4 10.7 5.8 0.3 0.1 13.9 8.7 3.0 -0.5 4.1 11.2 10.2 5.9 2.2 10.7 30.3 22.4 14.2 -3.8 -1.4 -2.9 0.7 4.9 -12.5 -3.9 -25.7 -14.5 0.8 1.4 4.4 13.1 15.1 8.8 -1.7 3.0 13.7 13.5 9.8 -0.9 -2.3 12.5 11.9 8.4 -1.6 0.9 16.1 14.4 8.0 1.3 5.3 17.0 15.7 10.3 1.8 4.3 16.3 14.6 8.8 1.2 7.4 9.4 6.4 6.6 -1.7 1.1 0.6 1.4 7.6 -1.8 4.8 9.7 7.4 6.0 -1.3 4.7 7.9 5.7 5.0 -0.9 5.1 8.2 6.8 5.8 -1.7 4.1 7.4 5.0 4.1 -0.4 5.3 10.5 9.9 7.8 -1.0 4.6 9.0 6.8 5.6 -1.1 2.8 10.9 9.4 6.6 -1.6 2.3 12.2 10.0 6.4 -1.5 2.1 -0.2 1.0 7.8 -1.4 5.5 8.8 6.0 4.8 -2.7 3.5 9.4 6.4 4.9 -7.6 -10.1 -15.8 -10.1 5.0 0.5 7.6 8.4 5.9 5.1 -0.3 2.3 6.3 7.5 6.7 -0.6 1.1 -0.2 3.2 3.7 0.3 1.5 3.4 4.6 4.6 0.3 1.1 4.3 5.3 4.3

Mid-Cap Growth Mid-Cap Blend Mid-Cap Value

The markets were volatile in March. U.S. large caps ended the month down more than 1% , while small caps gained nearly 2% . Foreign equities had mixed results. In the United States, growth generally outperformed value, with health-care stocks leading the way. Fidelity Select Health Care FSPHX , T. Rowe Price Health Sciences PRHSX , and Vanguard Health Care VGHCX all rallied more than 2% and ranked among the best-performing funds in the Morningstar 500 . Meanwhile, the materials sector had a rough showing, as precious-metals miners sold off on concerns that the Fed’s rate hikes will pressure gold prices. Oppenheimer Gold & Special Minerals OPGSX and Vanguard Precious Metals and Mining VGPMX lost 13% and 9% , respectively. Foreign developed-markets stocks, as measured by the MSCI EAFE Index, retreated 1 . 5% , though results varied beneath the surface. Japan gained more than 1% , as aggressive monetary stimulus helped boost stock prices. In Europe, depreciating currencies acted as a significant headwind. In fact, the MSCI Europe Index registered about a 1% gain in local-currency terms, though it lost more than 2% after adjusting for depreciation. The United Kingdom ranked among the worst-performing countries, falling nearly 6% . Mean- while, the MSCI Emerging Markets Index tumbled more than 1% because of declining currencies. Latin America led the declines, with Brazil down 11% . Interest rates fell moderately, with the 10 -year Trea- sury yield finishing the month below 2% . That helped the Barclays Government Long Index register a 1 . 2% gain. Investment-grade corporate bonds ended the month about flat, while high-yield securities fell 0 . 50% . œ

Small Growth Small Blend Small Value

Aggressive Allocation Conservative Allocation Moderate Allocation

Communications

Financial

Global Real Estate

Health

Natural Resources

Equity Precious Metals

Real Estate Technology

Utilities

S&P 500

S&P MidCap 400

Russell 2000

Diversified Pacific/Asia Diversified Emerging Mkts

Europe Stock

Foreign Large Blend Foreign Large Growth Foreign Large Value

Foreign Small/Mid Growth Foreign Small/Mid Value

World Stock

MSCI World

MSCI Emerging Markets

MSCI EAFE MSCI Europe

MSCI Latin America

MSCI Pacific

High Yield Bond

Inflation-Protected Bond Intermediate-Term Bond

Muni National Long

World Bond -0.8 -0.5 1.6 3.2 4.1 BarCap US Agg Bond TR USD 0.4 1.5 3.0 4.3 4.8 BofAML US HY Master II TR -0.5 2.5 7.5 8.4 8.0 BarCap Municipal TR USD 0.3 1.0 4.1 5.1 4.8