S&P 500 Index is a market capitalization-weighted price index composed of
500 widely held common stocks.
1 Source for bear/bull market stats is Ned Davis Research as of 12/15/21 unless
otherwise noted.
2 Source: Ned Davis Research, 12/21. Time period referenced is
12/16/01–12/15/21.
3 Source: National Bureau of Economic Research, 9/20.
Important risks: Investing involves risk, including the possible loss of
principal. • Diversification does not ensure a profit or protect against a loss in
declining market.