View from the Observation Deck 

1. Today's chart features performance figures for some major domestic and foreign stock and bond indices in the current bull market, which for equities commenced after 3/9/09.
2. Nearly all of the average annualized total returns depicted in the chart compare favorably to a couple of long-term historical averages. 
3. From 1926-2015, the S&P 500 Index and Ibbotson U.S. Long-Term Government Bond index posted average annual total returns of 10.02% and 5.60%, respectively, according to Ibbotson Associates/Morningstar.   
4. Due in part to having endured two severe bear markets since the start of 2000, in our opinion, many retail investors have opted to favor bond mutual funds over equity mutual funds.
5. While there are different inherent risks associated with both equities and fixed-income securities, and with both types of funds, in addition to seeking current income, many bond fund investors also tend to seek stability of principal over time, though it can't be guaranteed. 
6. From January 2009 through February 2016, bond mutual funds reported net inflows totaling $969.89 billion, compared to net outflows totaling $197.87 billion for equity mutual funds, according to data from the Investment Company Institute.

This chart is for illustrative purposes only and not indicative of any actual investment. The illustration excludes the effects of taxes and brokerage commissions or other expenses incurred when investing. Investors cannot invest directly in an index. The S&P 500 Index is a capitalization-weighted index comprised of 500 stocks used to measure large-cap U.S. stock market performance. The NASDAQ 100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed in the NASDAQ. The S&P MidCap 400 Index is a capitalization-weighted index that tracks the mid-range sector of the U.S. stock market. The S&P Small Cap 600 Index is a capitalization-weighted index that tracks U.S. stocks with a small market capitalization. The MSCI World (ex-U.S.) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets excluding the U.S. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The BofA Merrill Lynch Fixed Rate Preferred Securities Index tracks the performance of investment grade fixed rate U.S. dollar denominated preferred securities issued in the U.S. domestic market. The BofA Merrill Lynch U.S. High Yield Index tracks the performance of U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. The BofA Merrill Lynch U.S. Corporate Index tracks the performance of U.S. dollar denominated investment grade corporate debt publicly issued in the U.S. domestic market. The BofA Merrill Lynch 22+ Year U.S. Municipal Securities Index tracks the performance of U.S. dollar denominated investment grade tax-exempt debt publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. domestic market. The BofA Merrill Lynch Global Government Index (ex U.S.) tracks the performance of publicly issued investment grade sovereign debt denominated in the issuer's own domestic currency. The BofA Merrill Lynch 7-10 Year U.S. Treasury Index tracks the performance of U.S. dollar denominated sovereign debt publicly issued by the U.S. government in its domestic market. 

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