The fourth quarter of 2025 delivered strong results, with most markets posting gains. International Developed markets led the way, returning 5.20%, followed by Emerging markets at 4.73%. The U.S. Stock market gained 2.4%, while the U.S. Bond market rose 1.10% and the Global Bond market (ex-U.S.) increased 0.52%. The Global Real Estate market was the exception, finishing the quarter down -0.81%.
Even more encouraging, all of these markets, except the 5-year U.S. bond market, have generated positive returns over the past 1, 5, and 10-year periods.
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