Morningstar - Q1 2023 - 16

Dispatches
Global Briefs
TRENDS
U.S. Stocks the Biggest Loser in 2022, but They're Still the 10-Year Leader
Commodities were the only winners in 2022. The double threat of inflation and recession left bonds and stocks with big losses.
Over the long term, though, U.S. equities maintain a strong lead.
10-Year
2013
37.91
31.81
21.97
14.31
7.21
-1.84
-2.06
-4.65
-4.83
2014
13.56
7.23
6.92
6.37
4.89
2.38
-0.75
-3.91
-17.90
2015
1.84
1.78
0.71
-1.41
-1.79
-4.44
-4.88
-13.26
-23.30
Source: Morningstar Direct. Data as of Dec. 31, 2022.
2016
20.25
17.46
11.35
11.18
9.57
8.57
5.80
3.40
1.21
2017
35.97
25.54
22.69
15.03
14.66
7.30
5.65
2.12
1.66
2018
1.20
-1.68
-2.27
-3.44
-4.76
-10.66
-12.11
-13.16
-13.93
2019
31.77
25.96
23.45
19.03
18.56
14.33
14.22
11.75
7.42
2020
21.72
18.77
16.41
12.82
9.75
9.10
8.97
7.03
-9.33
2021
38.55
27.19
16.25
12.71
10.19
5.24
-0.02
-1.57
-2.96
2022
21.99
-11.09
-12.56
-13.73
-14.77
-14.79
-17.93
-18.46
-20.42
Annlzd Return
12.54
9.01
5.82
5.25
3.99
2.53
2.15
0.71
0.21
High-Yield Bonds
Developed-Markets
ex-U.S. Stocks
ex-U.S. Stocks
High-Yield Bonds
Developed-Markets
Emerging-Markets Stocks
Intermediate-Term
Corporate Bonds
Intermediate-Term
Treasury Bonds
Commodities
Commodities
Intermediate-Term
Corporate Bonds
Intermediate-Term
Treasury Bonds
Emerging-Markets Stocks
Small-Cap Stocks
Large-Cap Stocks
Small-Cap Stocks
Large-Cap Stocks
Moderate Portfolio
Moderate Portfolio
What Distinguishes
U.S. Investors?
GLOBAL
If you're a U.S. investor, you probably consider
the 60% equities and 40% bonds split a
natural starting point for building a portfolio.
16
Morningstar Q1 2023
But this approach isn't as typical in, say, Japan
or Italy. In these countries, investors are
much more reluctant to take on stock market risk.
Rather, they rely on deposits and insurance
products to safeguard their assets.
As Morningstar's recently published Global
Investor Portfolio Study shows, there's no such
thing as an average investor. Common
investing behaviors differ widely by market-
not just in investors' willingness to take
risk but also in the choice of investment products,
prevalence of home bias, and the importance
of sustainability in investment selection.
For the study, we combed through statistics for
14 important wealth markets.
Our analysis showed that investors in the United
States are the most relaxed about taking
market risk. This ease is largely driven by a system
that relies less on governmental support and more
on personal savings for major life milestones
and expenditures, such as college, healthcare, and
retirement. To fulfill these goals, people usually
lowest return (%)
highest return (%)

Morningstar - Q1 2023

Table of Contents for the Digital Edition of Morningstar - Q1 2023

Contents
Morningstar - Q1 2023 - Cover1
Morningstar - Q1 2023 - Cover2
Morningstar - Q1 2023 - Contents
Morningstar - Q1 2023 - 2
Morningstar - Q1 2023 - 3
Morningstar - Q1 2023 - 4
Morningstar - Q1 2023 - 5
Morningstar - Q1 2023 - 6
Morningstar - Q1 2023 - 7
Morningstar - Q1 2023 - 8
Morningstar - Q1 2023 - 9
Morningstar - Q1 2023 - 10
Morningstar - Q1 2023 - 11
Morningstar - Q1 2023 - 12
Morningstar - Q1 2023 - 13
Morningstar - Q1 2023 - 14
Morningstar - Q1 2023 - 15
Morningstar - Q1 2023 - 16
Morningstar - Q1 2023 - 17
Morningstar - Q1 2023 - 18
Morningstar - Q1 2023 - 19
Morningstar - Q1 2023 - 20
Morningstar - Q1 2023 - 21
Morningstar - Q1 2023 - 22
Morningstar - Q1 2023 - 23
Morningstar - Q1 2023 - 24
Morningstar - Q1 2023 - 25
Morningstar - Q1 2023 - 26
Morningstar - Q1 2023 - 27
Morningstar - Q1 2023 - 28
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Morningstar - Q1 2023 - 30
Morningstar - Q1 2023 - 31
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Morningstar - Q1 2023 - 34
Morningstar - Q1 2023 - 35
Morningstar - Q1 2023 - 36
Morningstar - Q1 2023 - 37
Morningstar - Q1 2023 - 38
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Morningstar - Q1 2023 - 40
Morningstar - Q1 2023 - 41
Morningstar - Q1 2023 - 42
Morningstar - Q1 2023 - 43
Morningstar - Q1 2023 - 44
Morningstar - Q1 2023 - 45
Morningstar - Q1 2023 - 46
Morningstar - Q1 2023 - 47
Morningstar - Q1 2023 - 48
Morningstar - Q1 2023 - 49
Morningstar - Q1 2023 - 50
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Morningstar - Q1 2023 - 79
Morningstar - Q1 2023 - 80
Morningstar - Q1 2023 - Cover3
Morningstar - Q1 2023 - Cover4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2024q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2023q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2022q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q3
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https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019fall
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019summer
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019spring
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https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170405
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https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20141011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20141201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120405
https://www.nxtbook.com/nxtbooks/morningstar/investorconference2012
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20091011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008catalog
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008winter
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