NOTE: A larger circle represents a bull market with a higher return.
Sources: Bloomberg, FactSet, and Wells Fargo Investment Institute, March 31, 2018. For illustrative purposes only.
The market is represented by the S&P 500 Index. Index returns reflect general market results and do not reflect actual portfolio returns or the experience of any investor, nor do they reflect the impact of any fees, expenses, or taxes applicable to an actual investment. The S&P 500 Index is a market-capitalization-weighted index that is generally considered representative of the U.S. stock market. An index is unmanaged and not available for direct investment. Past performance is no guarantee of future results.