Fixed-income scorecard

Sources: Bloomberg and Wells Fargo Investment Institute, as of March 31, 2024. 1Q = first quarter. YTD = year to date. YOY = year over year. For illustrative purposes only. Duration is a measure of a bond’s sensitivity to interest rates. Short term taxable = Bloomberg U.S. Aggregate 1–3 Year Bond Index. Intermediate term taxable = Bloomberg U.S. Aggregate 5–7 Year Bond Index. Long term taxable = Bloomberg U.S. Aggregate 10+ Year Bond Index. High Yield taxable = Bloomberg U.S. Corporate High Yield Bond Index. Developed market ex-U.S. = J.P. Morgan GBI Global Ex U.S. (Unhedged). Emerging market = J.P. Morgan EMBI Global (USD). Yields and returns represent past performance and fluctuate with market conditions. Current performance may be higher or lower than that quoted above. Index returns do not represent investment performance or the results of actual trading. Index returns reflect general market results, assume the reinvestment of dividends and other distributions, and do not reflect deduction for fees, expenses or taxes applicable to an actual investment. An index is unmanaged and not available for direct investment. Past performance is no guarantee of future results. See “Index Definitions and Asset Class Risk Disclosures” link above for index definitions.

Bonds are subject to market, interest rate, price, credit/default, liquidity, inflation and other risks. Prices tend to be inversely affected by changes in interest rates. High-yield fixed-income securities are considered speculative, involve greater risk of default, and tend to be more volatile than investment-grade fixed-income securities. Foreign investing has additional risks including currency, transaction, volatility and political and regulatory uncertainty. These risks are heightened in emerging markets.