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Matri x Book 2 013
Historical Return Data—US Dollars
Matr i x Book 2 013

on the cover
Decades of financial
research underlie our
views on the capital
markets and form the
basis for how we invest.
As research progresses,
Dimensional continues
to evolve—offering new
dimensions to investors.

Historical Return Data—US Dollars
THE EVOLUTION OF DIMENSIONAL
Dimensional evolves as the science of investing

are based on four dimensions of expected returns

we disregarded it. As it turns out, there hasn’t

January effect. In response to that concern,

The Fama/French research led us to create our

evolves, which explains why we keep such close

that have been identified by academic research:

been a January effect since we began managing

Fama and French did two out-of-sample tests.

value strategies, which increase the exposure

the overall market (beta), company size (small

small cap strategies. This is what happens to

First, working with Jim Davis, they collected and

to low priced stocks relative to their weight in

cap/large cap), relative price (high/low), and

most anomalies—they disappear when the

analyzed the data in the US from 1926 to 1962.

benchmarks used by our clients. Recent research

direct profitability (high/low).

data set is expanded.

Second, they studied the performance of stocks

on profitability by Robert Novy-Marx has

connection to the academic community. Many,
if not most, of the major advances in portfolio
management over the last 60 years have come

average returns across portfolios and individual

identified another measure that appears to

Beginning in the mid-1960s, asset pricing models

from academic research.

have been developed to explain differences in
securities. Testing any model eventually produces
anomalies, because no model can perfectly
describe reality. But eventually, most anomalies

We believe that the best way to add value over
benchmark returns is by structuring portfolios

associated with conventional management, drives
the performance of portfolios.

model that revealed them.

replicated his work, and, once again, we find the
results persistent and pervasive around the world.

Evaluating the research

confidence when patterns are persistent across

the pre-1963 data and the non-US data were

Using valuation models

Our evolution parallels the evolution of research.

time periods and pervasive across markets.

consistent with the patterns they had observed

The finding that firms with high direct

The multifactor research of Eugene Fama and

in the US returns from 1963 to 1990. More

profitability have higher stock returns is not

Ken French is a good example. When Fama

recent returns continue to support their earlier

surprising to most people. But to some, a higher

and French first presented their research on

conclusions. As a result, we are confident that

expected return must mean greater risk.

the dimensions of equity returns in 1991, their

the size and value factors are, in fact, dimensions

evidence was based on US stocks from 1963

of expected returns.

In 1981, when we started our firm offering

to figure out what structure works best for

average returns than could be explained by the

them. Often, this involves trading off increased

single-factor market model used at the time.

expected returns against costs and tracking error.

Nevertheless, we felt comfortable launching a
small cap fund, because the size effect was so

view of investing. These characteristics give

than low profitability firms. Our research team has

world. They found the return patterns in both

was an anomaly. Small cap stocks had higher

pervasive, and is consistent with an equilibrium

profitability firms have higher average returns

in developed and emerging markets around the

investment dimensions. We work with clients

explains differences in returns, is persistent and

is consistent with an equilibrium view of investing.

margin as the gauge of profitability, high

patterns in returns. As a result, we have more

small cap investment strategies, the “size effect”

We consider a dimension to be a factor that

differences in returns, is persistent and pervasive, and

returns. Using a measure of gross operating

Data mining is a big concern when we look for

Clients vary in their preferences toward these

Identifying dimensions
of expected returns

We consider a dimension to be a factor that explains

disappear, get explained away, or sink the pricing

around the dimensions of expected returns.
Portfolio structure, rather than the tactical shifts

meet our standards for a dimension of expected

A parallel may be drawn between direct

to 1990. Some people wondered if their results

profitability and term premiums for fixed income

might be due to data mining, similar to the

obligations. It is well known that buying 1-month

persistent and pervasive. We didn’t have a good
explanation for the higher returns, but it seemed
reasonable that the smaller the firm, the higher its
costs of capital; and the return to an investor

Dimensional’s Rich History

is the company’s cost of capital.

Key breakthroughs in finding and pursuing dimensions of equity returns

Not long after we started Dimensional, Don Keim
discovered another anomaly, “the January effect.”

Relative Price
Fama/French research
identifies market, size, and
value factors as the principal
drivers of equity returns.

Total Market Solutions
Advancement in portfolio
design provides value-added,
efficient total market solutions
that focus on dimensions of
higher expected returns.

Direct Profitability
Research identifies a robust
proxy for a new investable
dimension of higher expected
return—expected profitability.

observed in the past to repeat in the future.

His research showed that most of the size effect

Our fixed income portfolios are structured

occurred in January. We could see no sensible

Company Size
Dimensional offers investors
diversified, cost-efficient
access to small companies.

equilibrium explanation for a January effect, so

1981

1992

2004

2012

Small Cap
Strategies

Value
Strategies

Applied Core
Equity Strategies

Opens the door to new strategies
and potential enhancements to
existing strategies

us confidence that we can expect the relations

around two generally accepted dimensions of
fixed income expected returns: term (maturity)
and credit spread (quality). Our equity portfolios
priced stocks have higher returns than high

In our view, the size effect went from being

Higher expected returns are the result of having

more likely to underperform in the next period;

priced stocks because of market mispricing.

an anomaly to a dimension of returns in the

either higher expected cash flows or a lower price.

stocks that have outperformed have a tendency to

Interestingly, they use much of the same data

Fama/French three-factor model, even though

slightly more risky, than 1-month bills. The higher

The direct profitability dimension is tied to the

continue to outperform. If the momentum effect

to support their view that we use to support ours.

there is still no robust explanation of why it

return for the 3-month maturities is not due to

Market

that have underperformed in a past period are

investors, 3-month bills are less risky, or only

Single-Factor Model, 1963

equities—relative price and direct profitability.

than buying 3-month Treasuries. For some

Advancements in Research

numerator and the relative price dimension to

were large enough to trade on profitably, then it

Clients who want to hire a money manager to

exists. Their research also identified the value

the denominator. Stated another way, if two

would be evidence of market mispricing.

capture mispricings have a difficult challenge:

effect as a dimension and led to the creation

First, they have to be able to identify successful

of our value funds.

Treasuries produces a lower return, on average,

mispricing; it is just the result of market forces.

stocks sell at the same price, then the one with
Similarly, it is perfectly reasonable that equity

higher expected cash flows must have a higher

We believe that momentum is a factor affecting

markets have dimensions of returns that may

expected return.

returns, but it is too small and sporadic to
actively induce trading. Momentum is stronger

be particularly attractive to some investors and
not others. Our confidence that we have correctly

direct profitability, can be combined to improve

which is consistent with our view that it is best

it to a basic valuation model, such as the

portfolio structure. For example, the explanatory
power of direct profitability is fairly weak.

rule. Momentum is also quite variable; in 2009,

However, when conditioned on the relative

it was sharply negative for US stocks.

Large

Price =

Small

The best way to add value is to structure portfolios

considered a trading cost rather than a trading

equation below.

Size

in small cap stocks than in large cap stocks,

identified a dimension goes up if we can connect

Size Effect, 1981

These two dimensions, relative price and

Expected Cash Flows
Discount Rate

However, by trading carefully, it is possible

managers in advance, and second, they have to

The latest research has identified profitability

hope that any such managers don’t raise their fees

price dimension, the explanatory power
becomes much stronger.

along the dimensions of expected returns.

as a dimension of expected returns, with highly

to keep the bulk of any alpha for themselves.

profitable firms having higher average returns

to use momentum to increase returns. For

than can be explained by the three-factor model.

The value of a stock or bond is the sum of future

example, momentum has explained most of

We believe that our philosophy provides a

So the evolution of financial science continues.

cash flows discounted back to present value.

contradictory. They both are structured around

the outperformance of our small cap strategies

better investment experience. Our approach

We are very excited about this new research and

For example, the price of a bond is determined

Value Effect, 1991

Our growth and value strategies are not
the same dimensions of size, relative price, and

relative to small cap indices.

is transparent and easy to explain because it

will incorporate it into the investment policies

relies on basic valuation methods and extensive

of many of our existing portfolios. We also

empirical research, and it is validated by a long

have developed new portfolios based on this

track record of implementation.

research—the first of these were two US growth

by the stream of coupon payments and principal

relative prices. In our view, value and growth

Contrast with
conventional management

a low-yield bond.

are not opposite ends of one dimension, but

Dimensional’s investment philosophy is centered

two different dimensions.
Low

and the other focuses on stocks selling at low

higher coupon or sell at a lower price than
Small

focuses on stocks selling at high relative prices,

rates. A high-yield bond must either have a

Large

direct profitability. The difference is that one

repayment, discounted back at various interest

Size

on an equilibrium, or efficient market, view of

Looking forward

public markets. In this view, the best way to

Dimensional will continue to evolve as research

add value over conventional benchmarks is to

on the dimensions of returns progresses. When

structure portfolios along the dimensions of

we started the firm in 1981, academic research

Generally, the greater the risk of an investment,

High

Relative Price

the higher the discount rate and lower the price.

strategies and two international growth strategies.

The discount rate is the investment’s expected
return. Reworking the equation above to solve

Direct Profitability, 2012
Size
Large

High

Momentum is an example of a factor that does

expected returns. For equity portfolios, expected

used the single-factor market model to explain

for expected return gives us:

not meet our criteria as a dimension of returns

returns are increased by giving greater weight

average returns. The size effect was viewed as

but still impacts portfolio returns.

to small cap, low relative price, and high direct

an anomaly because small cap returns were too

profitability firms.

great to be explained by beta. Nevertheless, we

Low

Small
High

High

Small

Relative Price

Low

Large

Low

Direct
Profitability

Momentum

Expected
=
Returns

Expected Cash Flows
Price

sponsored a small cap fund because the size

Research suggests that there is momentum in stock
A competing philosophy dominates conventional

effect was persistent and pervasive, and because

Expressing the relation this way highlights

money management. In that view, value can

it gave institutional investors a tool to efficiently

two of the dimensions of expected returns for

be added through tactical shifts. For example,

diversify beyond large cap stocks.

prices in most markets around the world. Stocks

behavioral finance proponents argue that low

David Booth
Co-Chief Executive Officer,
Dimensional Fund Advisors
TABLE OF CONTENTS

THE EVOLUTION OF DIMENSIONAL
Annualized Rates of Returns (%)
How to Use This Book

2
8
9

Total Returns
S&P 500 INDEX
Fama/French Total US Market Index
Dimensional US Adjusted Market 1 Index
Dimensional US Adjusted Market 2 Index
Dimensional US Adjusted Market Value Index
Dimensional US Large CAP Growth Index
Dimensional US Small CAP Growth Index
Fama/French US Large Value Research Index
Fama/French US Small Value Research Index
Dimensional US Targeted Value Index
Fama/French US Small Cap Index
DOW JONES US SELECT REIT INDEX
DOW JONES-UBS COMMODITY INDEX
Dimensional International Large CAP Growth Index
MSCI EAFE INDEX
Dimensional INTERNATIONAL ADJUSTED MARKET INDEX
Dimensional INTERNATIONAL VECTOR INDEX
Fama/French INTERNATIONAL VALUE INDEX
Dimensional INTERNATIONAL SMALL CAP GROWTH INDEX
Dimensional INTERNATIONAL SMALL CAP INDEX
Dimensional INTERNATIONAL SMALL CAP VALUE INDEX
MSCI EMERGING MARKETS INDEX
Dimensional EMERGING MARKETS ADJUSTED MARKET INDEX
Dimensional EMERGING MARKETS GROWTH INDEX
ONE-MONTH US TREASURY BILLS
LONG-TERM GOVERNMENT BONDS
LONG-TERM CORPORATE BONDS
BARCLAYS US TIPS INDEX
ONE-MONTH CERTIFICATES OF DEPOSIT
BARCLAYS US AGGREGATE BOND INDEX
BARCLAYS MUNICIPAL BOND INDEX
Dimensional US Intermediate Variable Credit Index
Dimensional US Intermediate Variable Government/Credit Index
Dimensional US Intermediate Variable Maturity Government/Credit INDEX
Dimensional Global Intermediate Variable Maturity Index

1926–2012
1927–2012
1928–2012
1928–2012
1928–2012
1975–2012
1975–2012
1927–2012
1927–2012
1928–2012
1927–2012
1978–2012
1992–2012
1992–2012
1970–2012
1994–2012
1994–2012
1975–2012
1992–2012
1970–2012
1982–2012
1988–2012
1994–2012
1996–2012
1926–2012
1926–2012
1926–2012
1998–2012
1966–2012
1976–2012
1980–2012
1974–2012
1974–2012
1977–2012
1985–2012

11
13
15
17
19
20
21
23
25
27
29
30
30
31
31
32
32
33
33
34
34
35
35
35
37
39
41
42
42
43
43
44
44
45
45

1926–2012
1927–2012
1926–2012
1926–2012
1926–2012
1966–2012
1978–2012
1992–2012

47
49
51
53
55
56
57
57

1973–2012
1973–2012
1973–2012
1973–2012
1973–2012
1973–2012

58
60
60
61
61
62
62

Real Returns (Inflation Adjusted)
US INFLATION: CHANGES IN US CONSUMER PRICE INDEX
Fama/French US Small Cap Index
S&P 500 INDEX
LONG-TERM GOVERNMENT BONDS
ONE-MONTH US TREASURY BILLS
ONE-MONTH CERTIFICATES OF DEPOSIT
DOW JONES US SELECT REIT INDEX
DOW JONES-UBS COMMODITY INDEX

Balanced Strategies
Balanced
Balanced
Balanced
Balanced
Balanced
Balanced
Balanced

Strategies: Weights and Summary Statistics
Strategy: Fixed
Strategy: Conservative
Strategy: Moderate
Strategy: Normal
Strategy: Aggressive
Strategy: Equity

GLOBAL STRATEGIES
World market capitalization
Sources and Descriptions of Data

63
64
66

MATR IX BOOK 2013

7
ANNUALIZED RATES OF RETURNS (%)

HOW TO USE THIS BOOK

One
Year
2012

Five
Years
2008–2012

Ten
Years
2003–2012

Fifteen
Years
1998–2012

Twenty
Years
1993–2012

Fifty
Years
1963–2012

Eighty
Years
1933–2012

S&P 500 Index

16.0

1.7

7.1

4.5

8.2

9.8

11.1

Fama/French Total US Market Index

15.1

2.3

7.9

5.0

8.4

10.0

11.2

Dimensional US Adjusted Market 1 Index

17.1

2.9

8.9

6.1

9.4

11.0

12.2

Dimensional US Adjusted Market 2 Index

17.9

2.9

9.2

6.7

9.9

11.7

12.9

Dimensional US Adjusted Market Value Index

19.3

3.7

10.4

8.2

11.2

13.2

14.2

Dimensional US Large CAP Growth Index

15.3

5.1

7.8

5.3

8.5

—

—

Dimensional US Small CAP Growth Index

15.6

4.8

10.3

8.3

9.9

—

—

Fama/French US Large Value Research Index

24.9

-0.8

7.8

5.6

8.6

12.4

14.0

Fama/French US Small Value Research Index

21.9

5.9

12.3

10.9

14.0

16.7

17.6

Dimensional US Targeted Value Index

20.0

6.3

12.5

10.4

13.3

15.1

15.8

Fama/French US Small Cap Index

17.4

5.4

11.4

7.7

10.2

12.4

14.3

Dow Jones US Select REIT Index

17.1

5.1

11.5

9.0

10.9

—

—

Dow Jones-UBS Commodity Index

-1.1

-5.2

4.1

4.0

5.4

—

—

Dimensional International Large CAP Growth Index

17.9

-1.2

9.9

6.3

7.0

—

17.3

-3.7

8.2

4.4

6.1

—

17.8

-2.2

11.3

7.6

—

—

18.1

-1.8

12.1

8.4

—

—

—

Fama/French International Value Index

21.2

-1.5

12.8

9.9

11.4

—

—

Dimensional International Small CAP Growth Index

20.1

-0.2

13.2

8.5

7.7

—

—

Dimensional International Small Cap Index

16.8

-1.8

12.4

8.3

7.8

—

—

Dimensional International Small Cap Value Index

18.2

0.3

14.4

11.1

10.3

—

—

MSCI Emerging Markets Index

	 3 The return can be found where the first year’s column meets the last year’s row.
	In this example, the Fama/French US Large Value Research Index
	
had a compound rate of return of 10.2% per year for the nine-year period.

—

Dimensional International Vector Index

	Locate the row for the last year of the interval (2004).
2
	Years are labeled at the beginning of each row.

—

Dimensional International Adjusted Market Index

	 1 Locate the column for the first year of the interval (1996).
	Years are labeled at the top and bottom of each column.

—

MSCI EAFE Index

(net dividends)

18.6

-0.6

16.9

9.2

8.8

—

—

Dimensional Emerging Markets Adjusted Market Index

21.1

1.5

19.9

11.8

—

—

—

Dimensional Emerging Markets Growth Index

19.7

0.8

16.3

8.8

—

—

—

One-Month US Treasury Bills

0.1

0.4

1.7

2.5

3.0

5.2

3.6

Long-Term Government Bonds

3.3

9.3

7.5

7.9

8.6

7.5

5.8

(gross dividends)

Long-Term Corporate Bonds

10.7

10.5

7.8

7.9

8.1

7.7

6.2

Barclays US TIPS Index

7.0

7.0

6.7

7.3

—

—

—

One-Month Certificate of Deposit

0.2

0.8

2.0

2.9

3.4

—

—

Barclays US Aggregate Bond Index

4.2

5.9

5.2

6.0

6.3

—

—

Barclays Municipal Bond Index

6.8

5.9

5.1

5.4

6.0

—

—

Dimensional US Intermediate Variable Credit Index

8.8

7.1

5.9

6.4

6.7

—

—

Dimensional US Intermediate Variable Govt/Credit Index

5.4

5.9

5.1

5.9

6.1

—

—

Dimensional US Intermediate Variable Maturity Govt/Credit Index

3.9

5.2

4.7

5.6

5.9

—

—

Dimensional Global Intermediate Variable Maturity Index

4.8

6.2

5.5

6.4

7.1

—

—

US Consumer Price Index

1.7

1.8

2.4

2.4

2.4

4.1

3.7

DFA Fixed Balanced Strategy Index

1.1

2.5

2.9

4.0

4.5

—

—

DFA Conservative Balanced Strategy Index

4.7

2.9

4.8

5.1

6.0

—

—

DFA Moderate Balanced Strategy Index

8.4

3.0

6.6

6.1

7.3

—

—

12.1

2.8

8.2

6.9

8.5

—

—

DFA Normal Balanced Strategy Index
DFA Aggressive Balanced Strategy Index

15.8

2.4

9.7

7.6

9.6

—

—

DFA Equity Balanced Strategy Index

19.6

1.7

11.0

8.1

10.5

—

—

All returns are in US dollars. For balanced strategy weights, see page 58. For a detailed description of returns series, see page 66.
Past performance is no guarantee of future results.
Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio.

8

For example, to find the annualized compound rate of return for
the Fama/French US Large Value Research Index for the interval 1996–2004:

D I M E N S I O N A L F U N D A D VI S O R S

2

1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

1993
1
22.2 1994
7.3 -5.8 1995
16.3 13.4 36.6 1996
15.9 13.8 25.2 14.7 1997
18.1 17.1 25.9 20.8 27.3 1998
18.6 17.8 24.6 20.9 24.1 21.0 1999
15.5 14.4 19.0 14.9 15.0
9.3 -1.3 2000
16.0 15.1 19.0 15.8 16.1 12.6
8.6 19.5 2001
14.1 13.1 16.1 13.0 12.7
9.3
5.6
9.3
0.0 2002
9.4
8.1
9.9
6.6
5.3
1.4 -3.0 -3.6 -13.4 -25.0 2003
11.0
9.9 11.8
9.0
8.3
5.4
2.5
3.5 -1.4 -2.1 27.8 2004
11.7 10.8 12.6 10.2
9.7
7.4
5.2
6.6
3.6
4.8 23.9 20.1 2005
11.7 10.9 12.5 10.4
9.9
7.9
6.2
7.5
5.2
6.6 19.8 16.0 12.0 2006
12.6 11.8 13.5 11.6 11.3
9.6
8.2
9.7
8.1
9.8 20.8 18.6 17.8 24.0 2007
11.9 11.2 12.6 10.9 10.5
9.0
7.7
8.9
7.4
8.7 17.1 14.6 12.8 13.2
3.3 2008
7.7
6.8
7.8
5.9
5.2
3.3
1.7
2.1
0.1
0.1
5.0
1.0 -3.3 -8.0 -20.7 -39.1 2009
8.6
7.8
8.7
7.0
6.4
4.8
3.5
4.0
2.4
2.7
7.4
4.3
1.4 -1.1 -8.2 -13.5 22.9
8.7
7.9
8.8
7.2
6.7
5.2
4.0
4.5
3.1
3.5
7.7
5.1
2.8
1.1 -3.9 -6.2 16.4
7.8
7.0
7.8
6.3
5.7
4.3
3.2
3.5
2.2
2.4
6.0
3.6
1.4 -0.3 -4.5 -6.4
8.1
8.6
7.9
8.7
7.3
6.8
5.6
4.6
5.0
3.9
4.3
7.8
5.7
4.1
3.0 -0.1 -0.8 12.0

2010
10.2
1.4
8.7

2011
-6.8
7.9

2012
24.9

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

2010

2011

2012

3

MATR IX BOOK 2013

9
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

10

1926
11.6
23.9
30.1
19.2
8.7
-2.5
-3.3
2.5
2.0
5.9
8.1
3.6
5.5
5.1
4.0
3.0
3.9
5.0
5.8
7.1
6.3
6.3
6.3
6.8
7.7
8.3
8.6
8.3
9.6
10.2
10.1
9.4
10.3
10.3
10.0
10.5
9.9
10.2
10.4
10.4
9.9
10.2
10.2
9.8
9.6
9.7
9.9
9.3
8.5
9.0
9.2
8.9
8.9
9.0
9.4
9.1
9.3
9.6
9.5
9.8
10.0
9.9
10.0
10.3
10.1
10.4
10.3
10.3
10.2
10.5
10.7
11.0
11.2
11.3
11.0
10.7
10.2
10.4
10.4
10.4
10.4
10.4
9.6
9.8
9.9
9.8
9.8
1926

1927
37.5
40.5
21.8
8.0
-5.1
-5.6
1.2
0.9
5.2
7.8
3.0
5.1
4.6
3.5
2.4
3.5
4.7
5.5
6.9
6.1
6.1
6.0
6.6
7.5
8.1
8.5
8.1
9.5
10.2
10.1
9.3
10.2
10.3
10.0
10.4
9.9
10.2
10.4
10.4
9.8
10.2
10.2
9.7
9.6
9.7
9.9
9.3
8.4
8.9
9.2
8.8
8.8
9.0
9.4
9.1
9.3
9.5
9.5
9.8
10.0
9.9
10.0
10.3
10.1
10.4
10.3
10.3
10.2
10.5
10.7
11.0
11.2
11.3
11.0
10.7
10.2
10.4
10.4
10.3
10.4
10.3
9.6
9.8
9.8
9.8
9.8
1927

1928
43.6
14.7
-0.4
-13.5
-12.5
-3.8
-3.5
1.8
4.9
0.0
2.5
2.3
1.3
0.3
1.5
2.9
3.8
5.4
4.7
4.7
4.7
5.3
6.4
7.1
7.5
7.1
8.6
9.3
9.2
8.5
9.5
9.5
9.3
9.7
9.2
9.5
9.7
9.8
9.2
9.6
9.6
9.1
9.0
9.1
9.3
8.7
7.8
8.4
8.7
8.3
8.3
8.5
8.9
8.6
8.8
9.1
9.0
9.4
9.5
9.5
9.6
9.9
9.7
10.0
9.9
9.9
9.8
10.2
10.4
10.7
10.9
11.0
10.7
10.4
9.9
10.1
10.1
10.0
10.1
10.0
9.3
9.5
9.6
9.5
9.5
1928

1929
-8.4
-17.1
-27.0
-22.7
-11.2
-9.7
-3.1
0.9
-3.9
-0.9
-0.8
-1.6
-2.4
-1.0
0.6
1.7
3.5
2.8
3.0
3.1
3.8
4.9
5.7
6.2
5.9
7.4
8.2
8.2
7.4
8.5
8.6
8.3
8.8
8.3
8.7
8.9
9.0
8.4
8.8
8.9
8.4
8.3
8.4
8.7
8.1
7.2
7.7
8.1
7.7
7.7
7.9
8.3
8.1
8.3
8.5
8.5
8.9
9.0
9.0
9.1
9.4
9.2
9.5
9.5
9.5
9.4
9.7
9.9
10.2
10.5
10.6
10.3
10.0
9.5
9.7
9.7
9.7
9.7
9.7
8.9
9.1
9.2
9.1
9.2
1929

1930
-24.9
-34.8
-26.9
-11.9
-9.9
-2.2
2.3
-3.3
0.0
-0.1
-1.0
-1.9
-0.4
1.3
2.5
4.3
3.5
3.7
3.8
4.5
5.6
6.4
6.9
6.5
8.1
8.9
8.8
8.0
9.1
9.2
8.9
9.4
8.8
9.2
9.4
9.5
8.9
9.3
9.3
8.9
8.7
8.9
9.1
8.5
7.5
8.1
8.4
8.1
8.1
8.2
8.7
8.4
8.6
8.9
8.8
9.2
9.4
9.3
9.4
9.7
9.5
9.8
9.8
9.8
9.7
10.0
10.2
10.5
10.8
10.9
10.6
10.3
9.7
10.0
10.0
9.9
10.0
9.9
9.2
9.4
9.4
9.3
9.4
1930

1931
-43.3
-27.9
-7.1
-5.7
3.1
7.7
0.2
3.6
3.2
1.8
0.5
2.0
3.7
4.8
6.6
5.6
5.6
5.6
6.3
7.4
8.2
8.6
8.2
9.7
10.5
10.4
9.5
10.6
10.6
10.3
10.8
10.1
10.5
10.6
10.7
10.1
10.4
10.4
9.9
9.7
9.9
10.1
9.4
8.4
9.0
9.3
8.9
8.9
9.1
9.5
9.2
9.4
9.6
9.6
9.9
10.1
10.0
10.1
10.5
10.2
10.5
10.5
10.5
10.3
10.7
10.9
11.2
11.4
11.5
11.2
10.9
10.3
10.5
10.6
10.5
10.5
10.5
9.7
9.9
9.9
9.8
9.9
1931

1932
-8.2
18.9
11.7
19.8
22.5
10.2
13.0
11.2
8.6
6.4
7.6
9.0
9.8
11.5
10.1
9.8
9.6
10.1
11.1
11.7
12.0
11.4
12.9
13.7
13.4
12.3
13.3
13.3
12.8
13.3
12.5
12.8
12.9
12.9
12.2
12.5
12.4
11.8
11.6
11.7
11.9
11.1
10.1
10.6
10.9
10.5
10.4
10.6
11.0
10.6
10.8
11.0
10.9
11.3
11.4
11.3
11.4
11.7
11.5
11.8
11.7
11.7
11.5
11.9
12.0
12.3
12.5
12.7
12.3
11.9
11.4
11.6
11.6
11.5
11.5
11.5
10.6
10.8
10.9
10.8
10.8
1932

S&P 500 INDEX
1933
54.0
23.2
30.9
31.6
14.3
16.9
14.3
11.0
8.2
9.4
10.8
11.5
13.2
11.6
11.2
10.8
11.2
12.3
12.9
13.2
12.4
14.0
14.7
14.4
13.2
14.3
14.2
13.7
14.1
13.2
13.5
13.6
13.6
12.8
13.1
13.1
12.4
12.2
12.2
12.4
11.7
10.6
11.1
11.4
10.9
10.8
11.0
11.4
11.0
11.2
11.5
11.4
11.7
11.8
11.7
11.8
12.1
11.8
12.1
12.1
12.0
11.8
12.2
12.4
12.7
12.9
13.0
12.6
12.2
11.7
11.9
11.9
11.8
11.8
11.7
10.9
11.1
11.1
11.0
11.1
1933

1926–2012: Total Returns (%)
1934
-1.4
20.6
24.9
6.1
10.7
8.7
5.9
3.5
5.3
7.2
8.3
10.4
8.8
8.6
8.4
9.0
10.2
11.0
11.3
10.7
12.4
13.2
12.9
11.8
12.9
12.9
12.4
12.9
12.1
12.4
12.5
12.5
11.8
12.1
12.1
11.4
11.2
11.3
11.5
10.8
9.7
10.3
10.6
10.1
10.0
10.2
10.6
10.3
10.5
10.7
10.6
11.0
11.2
11.0
11.2
11.5
11.2
11.5
11.5
11.4
11.3
11.6
11.8
12.1
12.4
12.5
12.1
11.7
11.1
11.4
11.4
11.3
11.3
11.3
10.4
10.6
10.7
10.6
10.6
1934

1935
47.7
40.6
8.7
13.9
10.9
7.2
4.3
6.1
8.2
9.3
11.5
9.7
9.4
9.1
9.7
11.0
11.7
12.1
11.4
13.1
13.9
13.6
12.4
13.6
13.5
13.0
13.4
12.6
12.9
13.0
13.0
12.2
12.5
12.5
11.8
11.6
11.7
11.9
11.1
10.0
10.6
10.9
10.4
10.3
10.5
10.9
10.6
10.8
11.0
10.9
11.3
11.4
11.3
11.4
11.7
11.5
11.8
11.7
11.7
11.5
11.9
12.0
12.3
12.6
12.7
12.3
11.9
11.3
11.6
11.6
11.5
11.5
11.4
10.6
10.8
10.8
10.7
10.8
1935

1936
33.9
-6.7
4.5
3.2
0.5
-1.6
1.2
4.0
5.7
8.4
6.8
6.7
6.6
7.4
8.9
9.8
10.3
9.6
11.6
12.5
12.2
11.0
12.3
12.3
11.8
12.3
11.4
11.8
12.0
12.0
11.2
11.6
11.6
10.9
10.7
10.8
11.0
10.3
9.1
9.8
10.1
9.6
9.6
9.8
10.2
9.9
10.1
10.3
10.3
10.7
10.8
10.7
10.8
11.2
10.9
11.2
11.1
11.1
10.9
11.3
11.5
11.9
12.1
12.2
11.9
11.5
10.9
11.1
11.1
11.0
11.1
11.0
10.1
10.4
10.4
10.3
10.4
1936

GROWTH OF $1
1937
-35.0
-7.7
-5.3
-6.5
-7.5
-3.4
0.4
2.6
5.9
4.4
4.5
4.6
5.6
7.3
8.4
9.0
8.3
10.4
11.4
11.2
10.0
11.4
11.4
10.9
11.5
10.7
11.1
11.3
11.3
10.5
10.9
10.9
10.3
10.1
10.2
10.5
9.7
8.5
9.2
9.5
9.1
9.0
9.2
9.7
9.4
9.6
9.9
9.8
10.2
10.4
10.3
10.4
10.8
10.5
10.8
10.8
10.8
10.6
11.0
11.2
11.5
11.8
11.9
11.6
11.2
10.6
10.8
10.8
10.7
10.8
10.7
9.8
10.1
10.1
10.0
10.1
1937

$100,000
1938
31.1
14.3
5.6
1.0
4.6
7.9
9.5
12.6
10.1
9.6
9.2
10.0
11.5
12.4
12.8
11.9
13.9
14.8
14.4
13.0
14.3
14.2
13.5
14.1
13.0
13.4
13.5
13.5
12.6
12.9
12.9
12.1
11.9
12.0
12.1
11.3
10.1
10.7
11.0
10.5
10.4
10.6
11.1
10.7
10.9
11.1
11.0
11.4
11.6
11.5
11.6
11.9
11.6
11.9
11.9
11.8
11.6
12.0
12.2
12.5
12.8
12.9
12.5
12.1
11.5
11.7
11.7
11.6
11.6
11.6
10.7
10.9
10.9
10.8
10.9
1938

1939
-0.4
-5.2
-7.4
-1.1
3.8
6.3
10.1
7.7
7.5
7.3
8.3
10.0
11.1
11.6
10.7
12.9
13.9
13.5
12.1
13.5
13.4
12.8
13.4
12.3
12.7
12.9
12.9
12.0
12.4
12.3
11.6
11.3
11.4
11.6
10.8
9.5
10.2
10.5
10.0
10.0
10.2
10.6
10.2
10.5
10.7
10.6
11.1
11.2
11.1
11.2
11.6
11.3
11.6
11.5
11.5
11.3
11.7
11.9
12.2
12.5
12.6
12.2
11.8
11.2
11.4
11.4
11.3
11.4
11.3
10.4
10.6
10.7
10.5
10.6
1939

$3,530

$10,000
1940
-9.8
-10.7
-1.4
4.9
7.7
12.0
8.9
8.5
8.1
9.2
11.0
12.1
12.5
11.5
13.9
14.9
14.4
12.8
14.3
14.1
13.5
14.0
12.9
13.3
13.5
13.4
12.4
12.8
12.8
12.0
11.7
11.8
12.0
11.1
9.8
10.5
10.8
10.3
10.2
10.4
10.9
10.5
10.8
11.0
10.9
11.3
11.5
11.3
11.4
11.8
11.5
11.8
11.8
11.7
11.5
11.9
12.1
12.5
12.7
12.9
12.5
12.0
11.4
11.6
11.6
11.5
11.6
11.5
10.6
10.8
10.8
10.7
10.8
1940

1941
-11.6
3.2
10.2
12.5
17.0
12.4
11.4
10.6
11.5
13.4
14.3
14.6
13.4
15.8
16.8
16.1
14.3
15.8
15.6
14.8
15.3
14.1
14.5
14.5
14.5
13.4
13.8
13.7
12.8
12.5
12.6
12.8
11.8
10.5
11.1
11.5
10.9
10.8
11.0
11.5
11.1
11.3
11.5
11.4
11.8
12.0
11.8
11.9
12.3
12.0
12.3
12.2
12.2
12.0
12.4
12.6
12.9
13.2
13.3
12.9
12.4
11.8
12.0
12.0
11.9
11.9
11.8
10.9
11.1
11.2
11.0
11.1
1941

$1,000
1942
20.3
23.1
22.0
25.4
17.9
15.7
14.2
14.8
16.6
17.3
17.4
15.7
18.2
19.1
18.2
16.2
17.6
17.3
16.3
16.9
15.5
15.8
15.8
15.7
14.5
14.9
14.7
13.8
13.5
13.5
13.7
12.7
11.2
11.9
12.2
11.6
11.5
11.7
12.2
11.7
11.9
12.2
12.0
12.4
12.6
12.4
12.5
12.9
12.5
12.9
12.7
12.7
12.5
12.9
13.1
13.4
13.6
13.8
13.3
12.9
12.2
12.4
12.4
12.3
12.3
12.2
11.3
11.5
11.5
11.4
11.5
1942

1943
25.9
22.8
27.2
17.3
14.8
13.2
14.0
16.1
16.9
17.1
15.3
18.0
19.0
18.1
15.9
17.5
17.1
16.1
16.7
15.2
15.6
15.6
15.5
14.3
14.7
14.5
13.6
13.2
13.3
13.5
12.4
10.9
11.7
12.0
11.4
11.3
11.4
12.0
11.5
11.7
12.0
11.8
12.3
12.4
12.2
12.3
12.7
12.4
12.7
12.6
12.6
12.3
12.8
12.9
13.3
13.5
13.7
13.2
12.7
12.1
12.3
12.3
12.2
12.2
12.1
11.1
11.4
11.4
11.3
11.3
1943

$100
1944
19.7
27.8
14.5
12.2
10.9
12.1
14.8
15.9
16.1
14.3
17.4
18.5
17.5
15.2
16.9
16.6
15.6
16.2
14.7
15.1
15.2
15.0
13.8
14.2
14.1
13.1
12.8
12.8
13.0
12.0
10.5
11.2
11.6
11.0
10.9
11.1
11.6
11.1
11.4
11.6
11.5
12.0
12.1
11.9
12.1
12.4
12.1
12.4
12.3
12.3
12.1
12.5
12.7
13.1
13.3
13.5
13.0
12.5
11.8
12.1
12.1
12.0
12.0
11.9
10.9
11.1
11.2
11.1
11.1
1944

1945
36.4
12.0
9.8
8.7
10.7
13.9
15.3
15.7
13.7
17.1
18.4
17.3
14.9
16.7
16.4
15.3
16.0
14.4
14.9
14.9
14.8
13.6
14.0
13.9
12.9
12.5
12.6
12.8
11.7
10.2
11.0
11.4
10.7
10.6
10.8
11.4
10.9
11.2
11.4
11.3
11.8
11.9
11.8
11.9
12.3
11.9
12.3
12.2
12.2
11.9
12.4
12.6
12.9
13.2
13.3
12.9
12.4
11.7
12.0
11.9
11.8
11.9
11.8
10.8
11.0
11.1
10.9
11.0
1945

$10
1946
-8.1
-1.4
0.8
5.0
9.9
12.1
13.0
11.2
15.1
16.7
15.7
13.2
15.3
15.1
14.0
14.8
13.3
13.8
13.9
13.8
12.6
13.1
13.0
12.0
11.7
11.8
12.0
10.9
9.4
10.2
10.6
10.0
9.9
10.2
10.7
10.3
10.6
10.9
10.7
11.2
11.4
11.2
11.4
11.8
11.4
11.8
11.7
11.7
11.5
11.9
12.1
12.5
12.8
13.0
12.5
12.0
11.3
11.6
11.6
11.5
11.5
11.4
10.4
10.7
10.7
10.6
10.7
1946

$1
1947
5.7
5.6
9.8
14.9
16.7
17.0
14.2
18.4
19.8
18.4
15.4
17.5
17.1
15.8
16.5
14.8
15.2
15.3
15.1
13.7
14.2
14.0
13.0
12.6
12.6
12.9
11.7
10.1
10.9
11.3
10.7
10.5
10.8
11.3
10.8
11.1
11.4
11.3
11.8
11.9
11.8
11.9
12.3
11.9
12.3
12.2
12.2
11.9
12.4
12.6
13.0
13.3
13.4
12.9
12.4
11.7
12.0
11.9
11.8
11.9
11.8
10.8
11.0
11.0
10.9
11.0
1947

1948
5.5
12.0
18.2
19.6
19.4
15.7
20.4
21.7
19.9
16.4
18.7
18.1
16.6
17.3
15.4
15.8
15.9
15.7
14.2
14.6
14.5
13.3
12.9
12.9
13.2
12.0
10.2
11.1
11.5
10.8
10.7
10.9
11.5
11.0
11.3
11.6
11.4
11.9
12.1
11.9
12.0
12.5
12.1
12.5
12.4
12.3
12.1
12.5
12.7
13.1
13.4
13.5
13.1
12.6
11.8
12.1
12.1
11.9
12.0
11.9
10.8
11.1
11.1
11.0
11.1
1948

1949
18.8
25.1
24.7
23.1
17.9
23.1
24.2
21.9
17.7
20.1
19.3
17.6
18.3
16.1
16.6
16.6
16.3
14.7
15.1
14.9
13.7
13.2
13.3
13.5
12.2
10.4
11.3
11.7
11.0
10.9
11.1
11.7
11.2
11.5
11.8
11.6
12.1
12.3
12.1
12.2
12.6
12.2
12.6
12.5
12.5
12.2
12.7
12.9
13.3
13.6
13.7
13.2
12.7
11.9
12.2
12.2
12.0
12.1
12.0
10.9
11.2
11.2
11.1
11.2
1949

$0
1926
1950
31.7
27.8
24.6
17.6
23.9
25.2
22.3
17.6
20.2
19.4
17.5
18.3
15.9
16.4
16.4
16.2
14.4
14.9
14.7
13.4
13.0
13.0
13.3
12.0
10.1
11.0
11.5
10.7
10.6
10.9
11.5
10.9
11.2
11.6
11.4
11.9
12.1
11.9
12.0
12.5
12.1
12.5
12.4
12.3
12.1
12.6
12.8
13.2
13.5
13.6
13.1
12.6
11.8
12.1
12.1
11.9
12.0
11.9
10.8
11.0
11.1
11.0
11.0
1950

D I M E N S I O N A L F U N D A D VI S O R S

1951
24.0
21.2
13.3
22.0
23.9
20.8
15.7
18.8
18.1
16.2
17.1
14.7
15.3
15.4
15.2
13.4
14.0
13.8
12.5
12.1
12.2
12.5
11.2
9.3
10.3
10.8
10.0
9.9
10.2
10.9
10.3
10.7
11.0
10.9
11.4
11.6
11.4
11.6
12.0
11.6
12.1
11.9
11.9
11.7
12.2
12.4
12.8
13.1
13.3
12.8
12.2
11.4
11.7
11.7
11.6
11.7
11.6
10.5
10.7
10.8
10.6
10.7
1951

2012
Data provided by Standard & Poor’s Index Services Group.

1952
18.4
8.3
21.4
23.9
20.2
14.4
18.1
17.3
15.3
16.4
13.9
14.6
14.7
14.6
12.7
13.4
13.3
11.9
11.5
11.6
12.0
10.6
8.7
9.7
10.3
9.5
9.4
9.7
10.4
9.9
10.2
10.6
10.5
11.1
11.3
11.1
11.2
11.7
11.3
11.8
11.7
11.6
11.4
11.9
12.1
12.6
12.9
13.1
12.6
12.0
11.2
11.5
11.5
11.4
11.5
11.4
10.2
10.5
10.6
10.4
10.5
1952

1953
-1.0
22.9
25.7
20.6
13.6
18.1
17.2
14.9
16.2
13.4
14.3
14.4
14.3
12.4
13.1
13.0
11.6
11.1
11.3
11.7
10.3
8.2
9.4
9.9
9.2
9.1
9.4
10.2
9.6
10.0
10.4
10.2
10.8
11.1
10.9
11.1
11.6
11.1
11.6
11.5
11.5
11.2
11.8
12.0
12.4
12.8
12.9
12.4
11.9
11.1
11.4
11.4
11.3
11.3
11.2
10.1
10.4
10.5
10.3
10.4
1953

1954
52.6
41.7
28.8
17.5
22.3
20.5
17.4
18.6
15.2
15.9
16.0
15.7
13.4
14.2
14.0
12.4
11.9
12.0
12.4
10.9
8.7
9.9
10.4
9.6
9.5
9.8
10.6
10.0
10.4
10.8
10.6
11.2
11.5
11.3
11.4
11.9
11.5
12.0
11.8
11.8
11.5
12.1
12.3
12.8
13.1
13.3
12.7
12.2
11.3
11.7
11.6
11.5
11.6
11.5
10.3
10.6
10.7
10.5
10.6
1954

1955
31.5
18.4
7.7
15.7
15.0
12.4
14.4
11.2
12.4
12.8
12.8
10.7
11.7
11.6
10.1
9.8
10.0
10.5
9.0
6.9
8.2
8.8
8.1
8.0
8.4
9.2
8.7
9.1
9.6
9.4
10.1
10.4
10.2
10.4
10.9
10.5
11.0
10.9
10.9
10.7
11.3
11.5
12.0
12.3
12.5
12.0
11.4
10.6
10.9
10.9
10.8
10.9
10.8
9.7
9.9
10.0
9.9
10.0
1955

1956
6.6
-2.5
10.9
11.1
8.9
11.7
8.5
10.2
10.9
11.1
9.0
10.1
10.2
8.8
8.4
8.8
9.4
7.9
5.7
7.1
7.8
7.1
7.1
7.5
8.4
7.9
8.4
8.8
8.8
9.5
9.7
9.6
9.8
10.4
10.0
10.5
10.4
10.4
10.2
10.8
11.1
11.6
11.9
12.1
11.6
11.0
10.2
10.6
10.6
10.4
10.5
10.4
9.3
9.6
9.7
9.5
9.6
1956

1957
-10.8
13.1
12.7
9.5
12.8
8.9
10.8
11.5
11.6
9.2
10.5
10.5
8.9
8.6
8.9
9.5
7.9
5.7
7.1
7.9
7.1
7.1
7.6
8.5
7.9
8.4
8.9
8.8
9.6
9.8
9.7
9.9
10.5
10.1
10.6
10.5
10.5
10.3
10.9
11.2
11.7
12.1
12.3
11.7
11.1
10.3
10.6
10.6
10.5
10.6
10.5
9.3
9.6
9.7
9.6
9.7
1957

1958
43.4
26.7
17.3
19.6
13.3
14.8
15.1
14.7
11.7
12.9
12.7
10.8
10.2
10.5
11.1
9.2
6.7
8.2
9.0
8.1
8.1
8.5
9.4
8.8
9.3
9.8
9.6
10.4
10.6
10.5
10.7
11.3
10.8
11.3
11.2
11.2
10.9
11.5
11.8
12.3
12.7
12.9
12.3
11.7
10.8
11.2
11.2
11.0
11.1
11.0
9.8
10.1
10.2
10.0
10.1
1958

1959
12.0
6.1
12.6
6.8
9.9
10.9
11.1
8.2
9.9
10.0
8.2
7.8
8.3
9.0
7.3
4.8
6.5
7.4
6.5
6.5
7.1
8.1
7.5
8.1
8.6
8.5
9.3
9.6
9.5
9.7
10.3
9.9
10.5
10.4
10.4
10.1
10.8
11.1
11.6
12.0
12.2
11.7
11.0
10.1
10.5
10.5
10.4
10.5
10.4
9.2
9.5
9.6
9.5
9.6
1959

1960
0.5
12.9
5.2
9.3
10.7
11.0
7.7
9.6
9.8
7.8
7.5
8.0
8.8
7.0
4.3
6.1
7.1
6.2
6.3
6.8
7.9
7.3
7.9
8.5
8.4
9.2
9.5
9.4
9.6
10.3
9.8
10.4
10.3
10.3
10.1
10.7
11.1
11.6
12.0
12.2
11.6
11.0
10.1
10.5
10.5
10.4
10.5
10.4
9.1
9.5
9.6
9.4
9.5
1960

1961
26.9
7.6
12.4
13.5
13.2
9.0
11.0
11.0
8.7
8.2
8.7
9.6
7.5
4.6
6.5
7.5
6.6
6.6
7.2
8.3
7.6
8.2
8.8
8.7
9.6
9.9
9.7
10.0
10.6
10.2
10.8
10.7
10.6
10.4
11.1
11.4
11.9
12.3
12.5
11.9
11.3
10.3
10.7
10.7
10.6
10.7
10.6
9.3
9.6
9.8
9.6
9.7
1961

1962
-8.7
5.9
9.3
10.1
5.7
8.6
8.9
6.6
6.3
7.1
8.1
6.0
3.1
5.2
6.3
5.4
5.5
6.2
7.4
6.8
7.4
8.1
8.0
8.9
9.3
9.1
9.4
10.1
9.6
10.3
10.2
10.2
9.9
10.6
11.0
11.5
12.0
12.2
11.6
10.9
10.0
10.4
10.4
10.3
10.4
10.3
9.0
9.3
9.4
9.3
9.4
1962

1963
22.8
19.6
17.2
9.7
12.4
12.2
9.0
8.3
9.0
9.9
7.4
4.1
6.3
7.5
6.5
6.5
7.1
8.4
7.7
8.3
8.9
8.8
9.7
10.1
9.9
10.1
10.9
10.3
11.0
10.9
10.8
10.5
11.3
11.6
12.2
12.6
12.8
12.2
11.5
10.5
10.9
10.9
10.8
10.9
10.7
9.4
9.7
9.8
9.7
9.8
1963

1964
16.5
14.5
5.6
9.9
10.2
6.8
6.4
7.4
8.6
6.0
2.5
5.1
6.4
5.4
5.5
6.2
7.6
6.9
7.6
8.3
8.2
9.2
9.6
9.4
9.7
10.4
9.9
10.6
10.5
10.5
10.2
10.9
11.3
11.9
12.3
12.5
11.9
11.2
10.2
10.6
10.6
10.5
10.6
10.5
9.1
9.5
9.6
9.4
9.5
1964

1965
12.5
0.6
7.8
8.6
5.0
4.8
6.1
7.7
4.9
1.2
4.1
5.6
4.6
4.7
5.6
7.1
6.3
7.1
7.9
7.8
8.8
9.3
9.1
9.4
10.2
9.7
10.4
10.3
10.3
10.0
10.8
11.1
11.7
12.2
12.4
11.8
11.1
10.0
10.5
10.5
10.3
10.5
10.3
9.0
9.3
9.4
9.3
9.4
1965

1966
-10.0
5.6
7.4
3.2
3.4
5.1
7.0
4.0
0.1
3.3
5.0
3.9
4.1
5.1
6.7
6.0
6.8
7.6
7.6
8.7
9.1
8.9
9.3
10.1
9.6
10.3
10.2
10.2
9.9
10.7
11.1
11.7
12.2
12.4
11.8
11.0
10.0
10.4
10.4
10.3
10.4
10.3
8.9
9.2
9.4
9.2
9.3
1966

1967
24.0
17.4
8.0
7.0
8.4
10.1
6.2
1.4
4.9
6.6
5.3
5.4
6.4
8.0
7.1
8.0
8.8
8.6
9.8
10.2
9.9
10.2
11.1
10.5
11.2
11.1
11.0
10.7
11.5
11.9
12.5
13.0
13.2
12.5
11.7
10.6
11.0
11.0
10.9
11.0
10.8
9.4
9.7
9.9
9.7
9.8
1967

1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

1968
11.1
0.8
1.9
4.9
7.5
3.5
-1.5
2.7
4.9
3.6
3.9
5.0
6.9
6.0
7.0
7.9
7.8
9.0
9.5
9.3
9.6
10.5
9.9
10.7
10.6
10.5
10.2
11.1
11.5
12.1
12.6
12.9
12.1
11.3
10.2
10.7
10.7
10.5
10.7
10.5
9.0
9.4
9.5
9.4
9.5
1968

1969
-8.5
-2.4
2.9
6.7
2.0
-3.4
1.6
4.1
2.8
3.2
4.5
6.6
5.6
6.7
7.7
7.6
8.9
9.4
9.2
9.5
10.5
9.8
10.7
10.5
10.5
10.2
11.1
11.5
12.2
12.7
12.9
12.2
11.4
10.2
10.7
10.7
10.5
10.7
10.5
9.0
9.4
9.5
9.3
9.5
1969

1970
4.0
9.1
12.3
4.8
-2.3
3.3
6.1
4.3
4.6
5.9
8.0
6.9
7.9
8.9
8.7
10.1
10.6
10.3
10.6
11.6
10.8
11.6
11.5
11.4
11.0
11.9
12.3
13.0
13.5
13.7
12.9
12.0
10.8
11.3
11.3
11.1
11.2
11.1
9.5
9.9
10.0
9.8
9.9
1970

1971
14.3
16.6
5.1
-3.9
3.2
6.4
4.3
4.6
6.1
8.4
7.2
8.3
9.3
9.1
10.5
11.0
10.6
11.0
12.0
11.2
12.0
11.8
11.7
11.3
12.2
12.6
13.3
13.8
14.1
13.2
12.3
11.0
11.5
11.5
11.3
11.4
11.3
9.6
10.0
10.1
9.9
10.1
1971

1972
19.0
0.8
-9.3
0.6
4.9
2.8
3.3
5.1
7.8
6.5
7.7
8.9
8.7
10.2
10.8
10.4
10.8
11.8
11.0
11.9
11.7
11.6
11.1
12.1
12.6
13.3
13.8
14.1
13.2
12.2
10.9
11.4
11.4
11.2
11.4
11.2
9.5
9.9
10.0
9.8
10.0
1972

1973
-14.7
-20.8
-4.9
1.6
-0.2
0.9
3.2
6.5
5.2
6.7
8.0
7.9
9.6
10.2
9.9
10.3
11.4
10.6
11.5
11.3
11.3
10.8
11.8
12.3
13.1
13.6
13.9
13.0
12.0
10.7
11.2
11.2
11.0
11.1
11.0
9.2
9.7
9.8
9.6
9.8
1973

1974
-26.5
0.5
7.7
3.8
4.3
6.6
9.9
7.9
9.4
10.6
10.2
11.9
12.4
11.9
12.2
13.3
12.3
13.2
12.9
12.8
12.2
13.2
13.6
14.4
14.9
15.2
14.2
13.1
11.7
12.2
12.1
11.9
12.0
11.8
10.0
10.4
10.6
10.3
10.5
1974

1975
37.2
30.4
16.4
13.9
14.8
17.5
14.0
14.9
15.7
14.8
16.2
16.4
15.5
15.6
16.6
15.3
16.1
15.6
15.3
14.6
15.6
15.9
16.6
17.1
17.2
16.1
14.9
13.3
13.8
13.7
13.4
13.5
13.3
11.3
11.7
11.8
11.5
11.7
1975

1976
23.8
7.2
7.0
9.8
13.9
10.6
12.1
13.3
12.5
14.3
14.7
13.9
14.1
15.3
13.9
14.9
14.5
14.2
13.5
14.6
15.0
15.8
16.3
16.5
15.3
14.1
12.5
13.1
13.0
12.7
12.8
12.6
10.6
11.1
11.2
10.9
11.0
1976

1977
-7.2
-0.5
5.4
11.6
8.1
10.2
11.9
11.2
13.3
13.8
13.0
13.3
14.6
13.3
14.3
13.9
13.7
13.0
14.1
14.6
15.4
16.0
16.2
15.0
13.8
12.1
12.7
12.6
12.4
12.5
12.2
10.2
10.7
10.8
10.6
10.7
1977

1978
6.6
12.3
18.7
12.3
14.0
15.4
14.1
16.2
16.4
15.3
15.4
16.7
15.0
16.1
15.5
15.1
14.3
15.4
15.8
16.6
17.2
17.4
16.1
14.7
13.0
13.5
13.4
13.1
13.2
13.0
10.8
11.3
11.4
11.1
11.3
1978

1979
18.4
25.2
14.2
16.0
17.3
15.4
17.6
17.7
16.3
16.3
17.6
15.7
16.8
16.1
15.7
14.8
16.0
16.4
17.2
17.7
17.9
16.5
15.1
13.3
13.8
13.7
13.4
13.5
13.2
11.0
11.5
11.6
11.3
11.4
1979

1980
32.4
12.2
15.2
17.0
14.8
17.5
17.6
16.0
16.1
17.5
15.5
16.7
16.0
15.5
14.5
15.8
16.2
17.1
17.7
17.9
16.4
15.0
13.0
13.6
13.5
13.2
13.3
13.0
10.7
11.2
11.4
11.1
11.2
1980

1981
-4.9
7.4
12.3
10.7
14.7
15.3
13.8
14.2
16.0
13.9
15.3
14.7
14.3
13.3
14.8
15.3
16.3
16.9
17.2
15.7
14.2
12.2
12.9
12.8
12.5
12.6
12.3
10.0
10.6
10.7
10.4
10.6
1981

1982
21.4
22.0
16.5
20.2
19.9
17.3
17.2
18.9
16.2
17.6
16.7
16.1
14.9
16.4
16.8
17.8
18.4
18.5
16.9
15.2
13.1
13.8
13.7
13.3
13.4
13.1
10.6
11.2
11.3
11.0
11.1
1982

1983
22.5
14.1
19.8
19.5
16.5
16.5
18.6
15.6
17.2
16.2
15.6
14.4
16.0
16.5
17.5
18.2
18.4
16.6
14.9
12.7
13.4
13.3
12.9
13.0
12.7
10.2
10.8
11.0
10.6
10.8
1983

1984
6.3
18.5
18.5
15.0
15.4
17.9
14.7
16.5
15.5
14.9
13.6
15.5
16.0
17.2
17.9
18.1
16.3
14.5
12.2
13.0
12.9
12.5
12.7
12.3
9.8
10.4
10.5
10.2
10.4
1984

1985
32.2
25.1
18.1
17.8
20.4
16.1
18.1
16.7
16.0
14.4
16.3
16.9
18.1
18.8
18.9
17.0
15.0
12.6
13.4
13.2
12.8
13.0
12.6
9.9
10.5
10.7
10.4
10.6
1985

1986
18.5
11.7
13.3
17.6
13.2
15.9
14.7
14.1
12.6
14.9
15.6
17.0
17.8
18.0
16.0
14.0
11.5
12.4
12.3
11.9
12.1
11.8
9.0
9.7
9.9
9.6
9.9
1986

1987
5.2
10.9
17.4
11.9
15.4
14.0
13.5
11.9
14.5
15.3
16.8
17.8
18.0
15.8
13.7
11.1
12.0
12.0
11.6
11.8
11.5
8.6
9.4
9.6
9.3
9.5
1987

1988
16.8
23.9
14.2
18.0
15.9
14.9
12.8
15.7
16.5
18.1
19.0
19.1
16.7
14.4
11.5
12.5
12.4
12.0
12.2
11.8
8.8
9.6
9.8
9.5
9.7
1988

1989
31.5
12.9
18.5
15.7
14.5
12.2
15.5
16.4
18.2
19.2
19.4
16.7
14.2
11.1
12.2
12.1
11.7
11.9
11.6
8.4
9.2
9.5
9.1
9.4
1989

1990
-3.1
12.4
10.8
10.6
8.7
13.1
14.4
16.6
17.9
18.2
15.4
12.9
9.7
10.9
10.9
10.5
10.9
10.5
7.3
8.2
8.5
8.2
8.6
1990

1991
30.5
18.5
15.6
11.9
16.6
17.6
19.8
20.8
20.9
17.5
14.4
10.8
12.1
12.0
11.5
11.8
11.4
7.9
8.8
9.1
8.8
9.1
1991

1992
7.6
8.8
6.3
13.4
15.2
18.1
19.5
19.7
16.1
12.9
9.2
10.7
10.7
10.3
10.6
10.3
6.7
7.7
8.1
7.8
8.2
1992

MATR IX BOOK 2013

1993
10.1
5.6
15.3
17.2
20.3
21.6
21.5
17.2
13.5
9.3
11.0
11.0
10.5
10.9
10.5
6.7
7.8
8.1
7.8
8.2
1993

1994
1.3
18.1
19.7
23.0
24.1
23.6
18.3
14.0
9.3
11.1
11.0
10.5
10.9
10.5
6.5
7.6
8.0
7.7
8.1
1994

1995
37.6
30.1
31.2
30.5
28.6
21.3
15.9
10.3
12.2
12.1
11.4
11.8
11.3
6.8
8.0
8.5
8.1
8.5
1995

1996
23.0
28.1
28.2
26.4
18.3
12.7
6.9
9.4
9.5
9.1
9.7
9.3
4.8
6.2
6.8
6.5
7.0
1996

1997
33.4
30.9
27.6
17.2
10.7
4.4
7.6
8.0
7.6
8.4
8.2
3.4
5.0
5.7
5.5
6.1
1997

1998
28.6
24.8
12.3
5.7
-0.6
3.8
4.8
4.8
6.0
5.9
1.0
2.9
3.8
3.7
4.5
1998

1999
21.0
4.9
-1.0
-6.8
-0.6
1.3
1.8
3.4
3.7
-1.4
0.9
2.0
2.0
2.9
1999

2000
-9.1
-10.5
-14.6
-5.3
-2.3
-1.1
1.1
1.7
-3.6
-0.9
0.4
0.6
1.7
2000

2001
-11.9
-17.2
-4.1
-0.5
0.5
2.9
3.3
-2.9
0.0
1.4
1.5
2.6
2001

2002
-22.1
0.1
3.6
3.9
6.2
6.1
-1.5
1.6
3.0
2.9
4.0
2002

2003
28.7
19.5
14.4
14.7
12.8
2.4
5.5
6.7
6.2
7.1
2003

2004
10.9
7.9
10.4
9.2
-2.2
2.1
3.9
3.6
4.9
2004

2005
4.9
10.2
8.6
-5.2
0.4
2.7
2.6
4.2
2005

2006
15.8
10.5
-8.4
-0.7
2.3
2.3
4.1
2006

2007
5.5
-18.5
-5.6
-0.8
-0.2
2.3
2007

2008
-37.0
-10.7
-2.9
-1.6
1.7
2008

2009
26.5 2010
20.6 15.1 2011
14.1 8.4 2.1 2012
14.6 10.9 8.8 16.0
2009 2010 2011 2012

11
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

12

1927
34.0
36.0
17.1
3.6
-8.3
-8.3
-1.1
-0.4
3.8
6.4
1.8
3.8
3.7
2.9
2.0
2.8
4.2
5.1
6.6
5.9
5.8
5.6
6.2
7.1
7.6
7.9
7.6
8.9
9.4
9.4
8.7
9.7
9.7
9.5
9.9
9.4
9.7
9.8
9.9
9.4
9.8
9.9
9.4
9.2
9.4
9.5
8.9
7.9
8.5
8.8
8.6
8.6
8.8
9.2
9.0
9.2
9.4
9.4
9.7
9.8
9.7
9.8
10.1
9.8
10.2
10.2
10.2
10.0
10.4
10.5
10.8
11.0
11.2
10.8
10.5
10.0
10.3
10.3
10.2
10.3
10.2
9.5
9.7
9.8
9.7
9.8
1927

1928
38.1
9.5
-4.9
-16.6
-15.0
-5.9
-4.5
0.6
3.7
-1.0
1.4
1.5
0.8
0.0
1.0
2.5
3.6
5.2
4.6
4.6
4.5
5.1
6.1
6.7
6.9
6.7
8.0
8.6
8.6
7.9
9.0
9.1
8.8
9.3
8.7
9.0
9.2
9.4
8.9
9.3
9.4
8.9
8.7
8.9
9.0
8.4
7.4
8.0
8.4
8.1
8.1
8.4
8.8
8.6
8.8
9.0
9.0
9.3
9.5
9.3
9.5
9.8
9.5
9.8
9.8
9.9
9.7
10.1
10.2
10.5
10.7
10.9
10.5
10.2
9.7
10.0
10.0
10.0
10.0
10.0
9.2
9.4
9.5
9.4
9.5
1928

1929
-13.2
-21.1
-29.5
-24.8
-12.9
-10.2
-3.9
0.1
-4.5
-1.7
-1.3
-1.8
-2.4
-1.2
0.5
1.7
3.6
3.0
3.1
3.0
3.8
4.8
5.5
5.8
5.6
7.0
7.6
7.7
7.0
8.1
8.2
8.0
8.5
8.0
8.3
8.5
8.7
8.2
8.6
8.8
8.3
8.1
8.3
8.4
7.8
6.9
7.4
7.8
7.6
7.6
7.9
8.3
8.1
8.3
8.6
8.5
8.9
9.0
8.9
9.0
9.3
9.1
9.4
9.4
9.5
9.3
9.7
9.9
10.1
10.3
10.5
10.2
9.9
9.4
9.6
9.7
9.6
9.7
9.6
8.9
9.1
9.2
9.1
9.2
1929

1930
-28.3
-36.5
-28.3
-12.8
-9.6
-2.2
2.1
-3.4
-0.4
0.0
-0.7
-1.5
-0.2
1.6
2.8
4.7
4.1
4.0
3.9
4.7
5.8
6.4
6.7
6.4
7.9
8.5
8.5
7.8
8.9
9.0
8.8
9.3
8.7
9.0
9.2
9.4
8.8
9.3
9.4
8.9
8.7
8.8
9.0
8.3
7.3
7.9
8.3
8.1
8.1
8.4
8.8
8.6
8.8
9.0
9.0
9.3
9.5
9.3
9.5
9.8
9.5
9.9
9.9
9.9
9.7
10.1
10.2
10.5
10.7
10.9
10.6
10.2
9.7
10.0
10.0
10.0
10.0
10.0
9.2
9.4
9.5
9.4
9.5
1930

1931
-43.7
-28.2
-7.0
-4.2
4.0
8.3
0.8
3.8
3.7
2.6
1.4
2.5
4.3
5.5
7.4
6.5
6.3
6.1
6.8
7.8
8.4
8.7
8.3
9.8
10.4
10.3
9.4
10.6
10.6
10.3
10.8
10.1
10.4
10.6
10.7
10.1
10.5
10.6
10.0
9.8
9.9
10.1
9.4
8.3
8.9
9.3
9.0
9.0
9.3
9.7
9.4
9.7
9.9
9.8
10.2
10.3
10.1
10.3
10.6
10.3
10.6
10.6
10.6
10.4
10.8
11.0
11.2
11.4
11.6
11.2
10.9
10.4
10.6
10.7
10.6
10.7
10.6
9.8
10.0
10.1
10.0
10.1
1931

1932
-8.5
19.6
14.4
21.3
23.5
11.1
13.3
12.0
9.7
7.5
8.3
9.8
10.7
12.5
11.1
10.7
10.1
10.7
11.6
12.0
12.1
11.6
13.0
13.5
13.3
12.3
13.4
13.3
12.9
13.3
12.5
12.8
12.9
12.9
12.2
12.6
12.7
12.0
11.7
11.8
11.9
11.1
10.0
10.6
10.9
10.6
10.5
10.8
11.2
10.9
11.1
11.3
11.2
11.6
11.6
11.5
11.6
11.9
11.5
11.9
11.8
11.8
11.6
12.0
12.1
12.4
12.6
12.7
12.4
12.0
11.4
11.7
11.7
11.6
11.7
11.6
10.8
11.0
11.1
10.9
11.0
1932

1933
56.4
27.9
33.2
33.1
15.5
17.4
15.3
12.2
9.5
10.1
11.7
12.5
14.3
12.7
12.1
11.4
11.9
12.8
13.2
13.3
12.6
14.1
14.6
14.3
13.2
14.3
14.2
13.7
14.2
13.3
13.5
13.6
13.6
12.9
13.3
13.3
12.6
12.3
12.4
12.5
11.6
10.5
11.1
11.4
11.1
11.0
11.2
11.7
11.3
11.5
11.7
11.6
12.0
12.1
11.9
12.0
12.2
11.9
12.3
12.2
12.2
12.0
12.3
12.5
12.7
12.9
13.1
12.7
12.3
11.7
12.0
12.0
11.9
12.0
11.9
11.0
11.3
11.3
11.2
11.2
1933

Fama/French Total
US Market Index
1934
4.6
22.9
26.1
7.0
10.9
9.5
7.0
4.7
5.9
8.0
9.1
11.3
9.9
9.4
8.9
9.6
10.7
11.2
11.3
10.8
12.4
13.0
12.8
11.7
12.9
12.9
12.4
12.9
12.0
12.3
12.4
12.5
11.8
12.2
12.3
11.6
11.3
11.4
11.5
10.7
9.6
10.2
10.5
10.2
10.1
10.4
10.9
10.6
10.8
11.0
10.9
11.3
11.4
11.2
11.3
11.6
11.2
11.6
11.6
11.6
11.4
11.7
11.9
12.2
12.4
12.5
12.1
11.8
11.2
11.5
11.5
11.4
11.5
11.4
10.5
10.8
10.8
10.7
10.8
1934

1935
44.5
38.4
7.8
12.5
10.6
7.4
4.7
6.1
8.4
9.6
11.9
10.3
9.8
9.3
10.0
11.1
11.6
11.7
11.1
12.8
13.4
13.1
12.0
13.2
13.2
12.7
13.2
12.3
12.6
12.7
12.8
12.0
12.5
12.5
11.8
11.5
11.6
11.7
10.9
9.7
10.3
10.7
10.3
10.3
10.6
11.0
10.7
10.9
11.1
11.0
11.4
11.5
11.3
11.4
11.7
11.4
11.7
11.7
11.7
11.5
11.9
12.0
12.3
12.5
12.7
12.3
11.9
11.3
11.6
11.6
11.5
11.5
11.5
10.6
10.8
10.9
10.8
10.9
1935

1927–2012: Total Returns (%)
1936
32.6
-6.8
3.6
3.4
1.2
-0.7
1.5
4.5
6.3
9.1
7.7
7.3
6.9
7.8
9.2
9.8
10.1
9.5
11.3
12.0
11.8
10.7
12.0
12.1
11.6
12.1
11.3
11.6
11.7
11.8
11.1
11.6
11.7
11.0
10.7
10.8
11.0
10.1
8.9
9.6
9.9
9.6
9.6
9.9
10.4
10.0
10.3
10.5
10.4
10.8
10.9
10.7
10.9
11.2
10.8
11.2
11.2
11.2
11.0
11.4
11.5
11.8
12.0
12.2
11.8
11.4
10.9
11.1
11.2
11.1
11.1
11.1
10.2
10.4
10.5
10.4
10.5
1936

1937
-34.5
-8.5
-4.8
-5.4
-6.3
-2.9
1.0
3.4
6.8
5.5
5.3
5.0
6.1
7.7
8.5
8.8
8.3
10.3
11.0
10.9
9.8
11.2
11.2
10.8
11.4
10.5
10.9
11.1
11.2
10.5
11.0
11.1
10.4
10.1
10.2
10.4
9.5
8.3
9.0
9.4
9.1
9.1
9.4
9.9
9.6
9.8
10.1
10.0
10.4
10.5
10.4
10.5
10.8
10.5
10.9
10.9
10.9
10.7
11.1
11.2
11.5
11.7
11.9
11.5
11.1
10.6
10.9
10.9
10.8
10.9
10.8
9.9
10.2
10.3
10.1
10.2
1937

1938
27.9
14.8
7.0
2.4
5.0
8.6
10.4
13.5
11.2
10.4
9.6
10.5
11.9
12.5
12.5
11.7
13.7
14.3
14.0
12.6
14.0
14.0
13.4
13.9
12.8
13.2
13.3
13.3
12.5
13.0
13.0
12.2
11.8
11.9
12.1
11.1
9.8
10.5
10.9
10.5
10.5
10.8
11.2
10.9
11.1
11.4
11.2
11.6
11.7
11.5
11.6
11.9
11.6
12.0
11.9
11.9
11.7
12.1
12.2
12.5
12.7
12.9
12.5
12.1
11.5
11.7
11.7
11.7
11.7
11.6
10.7
11.0
11.1
10.9
11.0
1938

GROWTH OF $1
1939
3.0
-2.1
-4.9
0.0
5.1
7.7
11.6
9.3
8.6
8.0
9.0
10.6
11.3
11.5
10.7
12.9
13.6
13.3
11.9
13.4
13.3
12.7
13.3
12.3
12.6
12.7
12.8
11.9
12.5
12.5
11.7
11.3
11.5
11.6
10.7
9.4
10.1
10.5
10.1
10.1
10.4
10.9
10.5
10.7
11.0
10.9
11.3
11.4
11.2
11.3
11.7
11.3
11.7
11.7
11.6
11.4
11.8
12.0
12.3
12.5
12.7
12.2
11.8
11.2
11.5
11.5
11.4
11.5
11.4
10.5
10.7
10.8
10.7
10.8
1939

$100,000
1940
-6.9
-8.5
-1.0
5.7
8.7
13.1
10.2
9.4
8.5
9.7
11.3
12.1
12.2
11.3
13.6
14.3
13.9
12.4
13.9
13.9
13.2
13.8
12.7
13.0
13.1
13.2
12.3
12.8
12.9
12.0
11.6
11.8
11.9
10.9
9.6
10.3
10.7
10.3
10.2
10.6
11.1
10.7
10.9
11.2
11.1
11.5
11.6
11.4
11.5
11.8
11.5
11.9
11.8
11.8
11.6
12.0
12.1
12.5
12.6
12.8
12.4
12.0
11.4
11.6
11.7
11.6
11.6
11.5
10.6
10.9
11.0
10.8
10.9
1940

1941
-10.1
2.1
10.3
13.0
17.6
13.3
11.9
10.6
11.7
13.3
14.0
13.9
12.9
15.2
15.8
15.4
13.7
15.2
15.1
14.3
14.9
13.7
14.0
14.1
14.1
13.1
13.6
13.7
12.7
12.3
12.4
12.6
11.5
10.1
10.8
11.2
10.8
10.7
11.1
11.6
11.2
11.4
11.7
11.5
11.9
12.0
11.8
11.9
12.3
11.9
12.3
12.2
12.2
12.0
12.4
12.5
12.8
13.0
13.2
12.8
12.3
11.7
12.0
12.0
11.9
11.9
11.8
10.9
11.1
11.2
11.1
11.1
1941

$2,996

$10,000
1942
16.0
22.1
21.9
25.8
18.7
16.1
14.0
14.8
16.3
16.7
16.4
15.0
17.4
18.0
17.3
15.4
16.9
16.7
15.8
16.3
14.9
15.2
15.3
15.2
14.2
14.7
14.6
13.6
13.2
13.3
13.4
12.2
10.8
11.5
11.9
11.4
11.4
11.7
12.2
11.8
12.0
12.2
12.1
12.5
12.6
12.3
12.5
12.8
12.4
12.8
12.7
12.7
12.4
12.8
13.0
13.3
13.5
13.7
13.2
12.7
12.1
12.4
12.4
12.3
12.3
12.2
11.2
11.5
11.6
11.4
11.5
1942

$1,000
1943
28.6
25.0
29.2
19.4
16.1
13.6
14.6
16.3
16.8
16.5
14.9
17.5
18.1
17.4
15.3
17.0
16.7
15.8
16.3
14.9
15.2
15.2
15.2
14.1
14.6
14.6
13.5
13.1
13.2
13.3
12.1
10.6
11.3
11.8
11.3
11.2
11.6
12.1
11.7
11.9
12.1
12.0
12.4
12.5
12.3
12.4
12.7
12.3
12.7
12.6
12.6
12.4
12.8
12.9
13.2
13.4
13.6
13.1
12.7
12.0
12.3
12.3
12.2
12.3
12.1
11.2
11.4
11.5
11.4
11.4
1943

1944
21.4
29.5
16.5
13.2
10.9
12.4
14.7
15.4
15.2
13.7
16.6
17.3
16.6
14.4
16.2
16.0
15.1
15.7
14.2
14.5
14.6
14.6
13.5
14.1
14.1
13.0
12.5
12.7
12.8
11.6
10.1
10.8
11.3
10.8
10.8
11.1
11.7
11.2
11.5
11.8
11.6
12.1
12.2
11.9
12.0
12.4
12.0
12.4
12.3
12.3
12.1
12.5
12.6
13.0
13.2
13.4
12.9
12.4
11.7
12.1
12.1
12.0
12.0
11.9
10.9
11.2
11.3
11.1
11.2
1944

$100
1945
38.0
14.1
10.5
8.4
10.7
13.6
14.6
14.4
12.8
16.1
16.9
16.2
13.9
15.9
15.7
14.7
15.4
13.8
14.2
14.3
14.3
13.1
13.7
13.8
12.7
12.2
12.3
12.5
11.3
9.7
10.5
11.0
10.5
10.5
10.8
11.4
11.0
11.2
11.5
11.4
11.8
11.9
11.7
11.8
12.2
11.8
12.2
12.2
12.1
11.9
12.3
12.5
12.8
13.0
13.2
12.7
12.3
11.6
11.9
11.9
11.8
11.9
11.8
10.8
11.0
11.1
11.0
11.0
1945

1946
-5.7
-1.1
0.0
4.7
9.3
11.1
11.4
10.0
13.9
15.0
14.4
12.1
14.3
14.2
13.3
14.1
12.5
13.0
13.2
13.2
12.1
12.8
12.8
11.7
11.3
11.5
11.6
10.4
8.8
9.7
10.2
9.8
9.7
10.1
10.7
10.3
10.6
10.9
10.8
11.2
11.4
11.1
11.3
11.7
11.2
11.7
11.7
11.7
11.4
11.9
12.0
12.4
12.6
12.8
12.3
11.9
11.2
11.5
11.5
11.4
11.5
11.4
10.4
10.7
10.8
10.6
10.7
1946

$10
1947
3.7
2.9
8.4
13.3
14.8
14.6
12.5
16.6
17.5
16.6
13.9
16.2
15.9
14.8
15.5
13.8
14.2
14.3
14.3
13.0
13.7
13.7
12.6
12.0
12.2
12.4
11.1
9.4
10.3
10.8
10.3
10.3
10.6
11.2
10.8
11.1
11.4
11.2
11.7
11.8
11.6
11.7
12.1
11.7
12.1
12.1
12.1
11.8
12.2
12.4
12.8
13.0
13.2
12.7
12.2
11.5
11.8
11.8
11.7
11.8
11.7
10.7
10.9
11.0
10.9
10.9
1947

1948
2.1
10.9
16.8
17.7
16.9
14.0
18.6
19.4
18.1
14.9
17.4
17.0
15.7
16.4
14.5
14.9
15.0
14.9
13.6
14.2
14.2
13.0
12.4
12.6
12.7
11.4
9.6
10.5
11.0
10.5
10.5
10.9
11.5
11.0
11.3
11.6
11.4
11.9
12.1
11.8
11.9
12.3
11.8
12.3
12.3
12.2
12.0
12.4
12.6
13.0
13.2
13.4
12.9
12.4
11.6
12.0
12.0
11.9
11.9
11.8
10.8
11.1
11.2
11.0
11.1
1948

$1
1949
20.3
24.8
23.4
20.9
16.5
21.5
22.1
20.3
16.4
19.0
18.4
16.9
17.6
15.4
15.8
15.8
15.7
14.2
14.9
14.9
13.5
12.9
13.0
13.2
11.8
9.9
10.8
11.4
10.8
10.8
11.2
11.8
11.3
11.6
11.9
11.7
12.2
12.3
12.0
12.2
12.6
12.1
12.6
12.5
12.5
12.2
12.7
12.8
13.2
13.4
13.6
13.1
12.6
11.8
12.2
12.2
12.1
12.1
12.0
10.9
11.2
11.3
11.1
11.2
1949

1950
29.5
25.0
21.0
15.6
21.8
22.4
20.3
16.0
18.9
18.2
16.6
17.4
15.1
15.5
15.5
15.5
13.9
14.6
14.6
13.2
12.6
12.7
12.9
11.4
9.5
10.5
11.1
10.5
10.4
10.9
11.5
11.0
11.3
11.7
11.5
12.0
12.1
11.8
12.0
12.4
11.9
12.4
12.3
12.3
12.0
12.5
12.7
13.0
13.3
13.5
12.9
12.4
11.7
12.0
12.0
11.9
12.0
11.9
10.8
11.1
11.2
11.0
11.1
1950

1951
20.6
17.0
11.3
19.9
21.0
18.8
14.1
17.6
17.1
15.3
16.4
13.9
14.5
14.6
14.6
13.0
13.8
13.8
12.4
11.8
12.0
12.2
10.7
8.7
9.8
10.4
9.9
9.8
10.3
11.0
10.5
10.8
11.2
11.0
11.5
11.7
11.4
11.6
12.0
11.5
12.0
12.0
11.9
11.6
12.1
12.3
12.7
12.9
13.2
12.6
12.1
11.4
11.7
11.7
11.6
11.7
11.6
10.5
10.8
10.9
10.7
10.8
1951

D I M E N S I O N A L F U N D A D VI S O R S

$0
1927
1952
13.5
6.9
19.7
21.1
18.4
13.1
17.2
16.6
14.8
15.9
13.4
14.0
14.1
14.2
12.5
13.4
13.4
12.0
11.3
11.6
11.8
10.3
8.3
9.4
10.0
9.5
9.4
9.9
10.7
10.2
10.5
10.9
10.7
11.3
11.4
11.1
11.3
11.8
11.3
11.8
11.7
11.7
11.4
12.0
12.2
12.5
12.8
13.0
12.5
12.0
11.2
11.5
11.6
11.5
11.5
11.4
10.3
10.6
10.7
10.6
10.6
1952

1953
0.7
22.9
23.7
19.7
13.0
17.8
17.1
14.9
16.2
13.3
14.0
14.2
14.2
12.4
13.4
13.4
11.9
11.2
11.5
11.7
10.1
8.0
9.2
9.9
9.3
9.3
9.8
10.6
10.0
10.4
10.8
10.6
11.2
11.4
11.1
11.3
11.7
11.2
11.8
11.7
11.7
11.4
11.9
12.1
12.5
12.8
13.0
12.5
11.9
11.1
11.5
11.5
11.4
11.5
11.4
10.3
10.6
10.7
10.5
10.6
1953

2012
Data provided by Fama/French.

1954
50.1
37.2
26.8
16.3
21.6
20.1
17.1
18.3
14.8
15.4
15.5
15.4
13.4
14.4
14.3
12.6
11.9
12.1
12.3
10.6
8.4
9.6
10.3
9.7
9.6
10.2
10.9
10.4
10.8
11.1
10.9
11.6
11.7
11.4
11.6
12.0
11.5
12.1
12.0
12.0
11.7
12.2
12.4
12.8
13.1
13.3
12.7
12.2
11.4
11.7
11.7
11.6
11.7
11.6
10.4
10.7
10.9
10.7
10.8
1954

1955
25.3
16.5
6.9
15.3
14.8
12.4
14.4
11.0
12.1
12.5
12.7
10.7
12.0
12.1
10.5
9.8
10.2
10.5
8.8
6.6
8.0
8.8
8.2
8.2
8.8
9.7
9.1
9.6
10.0
9.8
10.5
10.7
10.4
10.6
11.1
10.6
11.2
11.1
11.1
10.8
11.4
11.6
12.1
12.3
12.6
12.0
11.5
10.7
11.1
11.1
11.0
11.1
11.0
9.8
10.1
10.3
10.1
10.2
1955

1956
8.3
-1.3
12.2
12.3
9.9
12.6
9.1
10.6
11.2
11.5
9.5
10.9
11.2
9.5
8.9
9.3
9.7
8.0
5.7
7.2
8.0
7.5
7.5
8.2
9.1
8.6
9.0
9.5
9.3
10.0
10.2
10.0
10.2
10.7
10.2
10.8
10.8
10.8
10.5
11.1
11.3
11.8
12.0
12.3
11.7
11.2
10.4
10.8
10.8
10.7
10.8
10.7
9.5
9.9
10.0
9.8
9.9
1956

1957
-10.1
14.2
13.7
10.4
13.5
9.3
10.9
11.5
11.9
9.6
11.2
11.4
9.6
8.9
9.4
9.8
8.0
5.6
7.1
8.0
7.5
7.5
8.2
9.1
8.6
9.0
9.5
9.4
10.1
10.3
10.0
10.3
10.8
10.2
10.9
10.9
10.9
10.6
11.2
11.4
11.9
12.1
12.4
11.8
11.3
10.4
10.8
10.9
10.8
10.9
10.7
9.6
9.9
10.0
9.9
10.0
1957

1958
45.0
27.9
18.2
20.3
13.6
14.8
15.0
15.0
12.0
13.6
13.6
11.4
10.5
10.9
11.3
9.2
6.6
8.1
9.1
8.4
8.4
9.1
10.0
9.4
9.9
10.4
10.2
10.9
11.1
10.8
11.0
11.5
10.9
11.6
11.5
11.5
11.2
11.8
12.0
12.5
12.7
13.0
12.4
11.8
10.9
11.3
11.4
11.2
11.3
11.2
10.0
10.3
10.5
10.3
10.4
1958

1959
12.8
6.7
13.1
6.9
9.6
10.7
11.2
8.5
10.5
10.9
8.7
8.1
8.7
9.2
7.2
4.6
6.3
7.3
6.8
6.8
7.6
8.7
8.1
8.6
9.2
9.0
9.8
10.0
9.7
10.0
10.6
10.0
10.7
10.7
10.7
10.4
11.0
11.3
11.7
12.0
12.3
11.7
11.1
10.3
10.7
10.7
10.6
10.7
10.6
9.4
9.7
9.9
9.7
9.8
1959

1960
0.9
13.2
5.1
8.8
10.3
11.0
7.9
10.3
10.7
8.3
7.6
8.3
8.9
6.8
4.0
5.9
7.0
6.5
6.5
7.3
8.5
7.9
8.4
9.0
8.9
9.7
9.9
9.6
9.9
10.5
9.9
10.6
10.6
10.6
10.3
10.9
11.2
11.7
12.0
12.3
11.7
11.1
10.2
10.7
10.7
10.6
10.7
10.6
9.3
9.7
9.8
9.7
9.8
1960

1961
27.0
7.2
11.6
12.7
13.1
9.1
11.6
12.0
9.2
8.3
9.0
9.6
7.2
4.3
6.2
7.4
6.8
6.9
7.7
8.8
8.2
8.8
9.4
9.2
10.0
10.3
10.0
10.2
10.8
10.2
10.9
10.9
10.9
10.6
11.2
11.5
12.0
12.3
12.6
12.0
11.3
10.4
10.9
10.9
10.8
10.9
10.8
9.5
9.9
10.0
9.8
9.9
1961

1962
-9.6
4.6
8.3
9.9
5.8
9.3
10.0
7.2
6.4
7.4
8.2
5.7
2.7
4.9
6.2
5.6
5.8
6.7
8.0
7.4
8.0
8.6
8.5
9.4
9.7
9.4
9.7
10.3
9.7
10.4
10.4
10.5
10.1
10.8
11.1
11.6
11.9
12.3
11.6
11.0
10.1
10.5
10.6
10.5
10.6
10.5
9.2
9.5
9.7
9.5
9.6
1962

1963
21.0
18.6
17.2
10.1
13.5
13.6
9.8
8.6
9.4
10.1
7.3
3.8
6.1
7.5
6.7
6.8
7.8
9.0
8.3
9.0
9.6
9.4
10.3
10.6
10.2
10.5
11.1
10.5
11.2
11.2
11.2
10.8
11.5
11.8
12.3
12.6
12.9
12.2
11.6
10.6
11.1
11.1
11.0
11.1
10.9
9.6
10.0
10.1
9.9
10.0
1963

1964
16.2
15.3
6.7
11.7
12.2
8.0
7.0
8.1
9.0
6.0
2.4
4.9
6.5
5.8
5.9
7.0
8.4
7.7
8.4
9.1
8.9
9.8
10.1
9.8
10.1
10.7
10.1
10.9
10.8
10.9
10.5
11.2
11.5
12.1
12.4
12.7
12.0
11.3
10.3
10.8
10.9
10.7
10.9
10.7
9.4
9.8
9.9
9.7
9.8
1964

1965
14.5
2.2
10.2
11.2
6.4
5.5
6.9
8.1
4.9
1.1
4.0
5.7
5.0
5.2
6.4
7.9
7.2
7.9
8.7
8.5
9.5
9.8
9.5
9.8
10.5
9.8
10.7
10.7
10.7
10.3
11.1
11.4
11.9
12.3
12.6
11.9
11.2
10.2
10.7
10.7
10.6
10.7
10.6
9.2
9.6
9.8
9.6
9.7
1965

1966
-8.8
8.1
10.1
4.5
3.8
5.7
7.2
3.7
-0.3
3.0
5.0
4.3
4.6
5.8
7.5
6.8
7.6
8.4
8.2
9.3
9.6
9.3
9.6
10.4
9.7
10.5
10.5
10.5
10.2
10.9
11.3
11.8
12.2
12.6
11.8
11.1
10.1
10.6
10.6
10.5
10.6
10.5
9.1
9.5
9.7
9.5
9.6
1966

1967
28.2
21.0
9.4
7.2
8.9
10.2
5.7
0.8
4.4
6.4
5.5
5.8
7.0
8.7
7.9
8.7
9.5
9.2
10.3
10.6
10.2
10.6
11.3
10.5
11.4
11.3
11.3
10.9
11.7
12.0
12.6
12.9
13.3
12.5
11.7
10.7
11.2
11.2
11.1
11.2
11.0
9.6
10.0
10.1
9.9
10.0
1967

1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

1968
14.2
1.0
1.0
4.6
6.9
2.3
-2.6
1.7
4.3
3.5
3.9
5.4
7.4
6.6
7.5
8.4
8.2
9.4
9.8
9.4
9.8
10.6
9.8
10.7
10.7
10.7
10.3
11.1
11.5
12.1
12.5
12.8
12.0
11.3
10.2
10.7
10.8
10.6
10.8
10.6
9.1
9.6
9.8
9.6
9.7
1968

1969
-10.6
-5.1
1.5
5.1
0.1
-5.2
0.1
3.1
2.4
2.9
4.7
6.8
6.0
7.0
8.0
7.8
9.2
9.6
9.1
9.6
10.4
9.6
10.6
10.6
10.6
10.2
11.0
11.4
12.0
12.4
12.8
12.0
11.2
10.1
10.6
10.7
10.6
10.7
10.5
9.0
9.5
9.7
9.4
9.6
1969

1970
0.9
8.2
11.0
3.0
-4.1
2.0
5.2
4.1
4.6
6.4
8.6
7.5
8.5
9.5
9.2
10.5
10.9
10.4
10.7
11.6
10.7
11.7
11.6
11.6
11.1
12.0
12.3
12.9
13.3
13.7
12.8
12.0
10.8
11.3
11.4
11.2
11.3
11.2
9.6
10.0
10.2
10.0
10.1
1970

1971
16.0
16.4
3.7
-5.2
2.2
5.9
4.6
5.1
7.0
9.4
8.1
9.2
10.2
9.8
11.2
11.5
10.9
11.3
12.2
11.2
12.2
12.1
12.1
11.5
12.4
12.8
13.4
13.8
14.1
13.2
12.3
11.1
11.7
11.7
11.5
11.6
11.5
9.8
10.3
10.4
10.2
10.3
1971

1972
16.8
-2.0
-11.4
-1.0
4.0
2.8
3.6
5.9
8.6
7.4
8.6
9.7
9.4
10.9
11.2
10.6
11.0
12.0
10.9
12.0
11.9
11.9
11.3
12.3
12.6
13.3
13.7
14.1
13.1
12.2
10.9
11.5
11.5
11.4
11.5
11.3
9.6
10.1
10.3
10.1
10.2
1972

1973
-17.8
-22.9
-6.3
1.1
0.2
1.5
4.4
7.7
6.4
7.8
9.1
8.8
10.4
10.8
10.2
10.7
11.7
10.6
11.8
11.7
11.7
11.1
12.1
12.5
13.2
13.6
14.0
13.0
12.1
10.8
11.4
11.4
11.2
11.3
11.2
9.5
9.9
10.1
9.9
10.0
1973

1974
-27.7
-0.1
8.2
5.3
5.9
8.7
11.9
9.9
11.1
12.2
11.6
13.2
13.4
12.6
12.9
13.8
12.6
13.7
13.5
13.4
12.7
13.7
14.0
14.7
15.1
15.4
14.3
13.3
11.9
12.5
12.5
12.3
12.4
12.2
10.3
10.8
11.0
10.7
10.8
1974

1975
38.1
32.4
19.4
16.5
17.9
20.3
16.6
17.2
17.9
16.5
17.9
17.8
16.5
16.6
17.3
15.7
16.8
16.4
16.1
15.2
16.2
16.4
17.0
17.3
17.6
16.4
15.2
13.7
14.2
14.2
13.9
13.9
13.7
11.7
12.2
12.3
12.0
12.1
1975

1976
27.0
10.9
10.0
13.3
17.1
13.4
14.5
15.5
14.3
16.0
16.1
14.8
15.0
16.0
14.4
15.5
15.2
15.0
14.1
15.2
15.5
16.1
16.5
16.8
15.6
14.4
12.8
13.5
13.4
13.2
13.2
13.0
11.0
11.5
11.7
11.4
11.5
1976

1977
-3.1
2.4
9.1
14.7
10.8
12.5
14.0
12.8
14.8
15.0
13.8
14.1
15.2
13.5
14.8
14.5
14.3
13.5
14.6
14.9
15.6
16.0
16.4
15.1
13.9
12.3
13.0
12.9
12.7
12.8
12.6
10.5
11.1
11.3
11.0
11.1
1977

1978
8.2
15.7
21.3
14.6
15.9
17.1
15.3
17.3
17.2
15.6
15.8
16.8
14.9
16.2
15.8
15.5
14.5
15.6
15.9
16.7
17.0
17.4
16.0
14.7
13.0
13.7
13.6
13.3
13.4
13.1
11.0
11.5
11.7
11.4
11.5
1978

1979
23.7
28.4
16.8
17.9
19.0
16.5
18.7
18.4
16.4
16.6
17.7
15.5
16.9
16.3
16.0
14.9
16.1
16.4
17.1
17.5
17.8
16.3
15.0
13.2
13.9
13.8
13.5
13.6
13.3
11.1
11.7
11.8
11.5
11.6
1979

1980
33.4
13.5
16.1
17.8
15.1
17.8
17.7
15.6
15.8
17.1
14.8
16.3
15.8
15.5
14.3
15.6
16.0
16.8
17.2
17.5
16.0
14.6
12.8
13.5
13.4
13.1
13.2
12.9
10.7
11.3
11.5
11.1
11.2
1980

1981
-3.3
8.3
13.1
11.0
15.0
15.2
13.2
13.8
15.4
13.0
14.9
14.4
14.2
13.1
14.5
15.0
15.9
16.3
16.7
15.2
13.8
11.9
12.7
12.7
12.4
12.5
12.2
10.0
10.6
10.8
10.5
10.6
1981

1982
21.3
22.3
16.2
20.1
19.4
16.3
16.5
18.0
15.0
16.9
16.2
15.8
14.5
15.9
16.3
17.2
17.6
18.0
16.3
14.7
12.7
13.5
13.4
13.1
13.2
12.9
10.5
11.1
11.3
11.0
11.1
1982

1983
23.2
13.8
19.6
18.9
15.3
15.7
17.5
14.3
16.4
15.7
15.3
13.9
15.5
15.9
16.9
17.4
17.8
16.0
14.4
12.3
13.1
13.1
12.8
12.9
12.6
10.1
10.7
11.0
10.6
10.8
1983

1984
5.0
17.9
17.5
13.4
14.3
16.6
13.0
15.5
14.9
14.5
13.1
14.9
15.4
16.5
17.0
17.5
15.6
13.9
11.7
12.6
12.6
12.3
12.4
12.1
9.6
10.3
10.6
10.2
10.4
1984

1985
32.4
24.2
16.3
16.7
19.0
14.4
17.1
16.2
15.6
14.0
15.9
16.3
17.4
17.9
18.3
16.3
14.5
12.1
13.1
13.0
12.7
12.8
12.5
9.8
10.5
10.8
10.4
10.6
1985

1986
16.6
9.0
11.9
15.9
11.2
14.8
14.1
13.7
12.1
14.3
14.9
16.2
16.8
17.4
15.3
13.4
11.0
12.1
12.1
11.8
11.9
11.6
8.9
9.7
10.0
9.6
9.8
1986

1987
2.0
9.6
15.7
9.8
14.4
13.7
13.3
11.5
14.1
14.8
16.2
16.9
17.5
15.2
13.2
10.7
11.8
11.8
11.5
11.7
11.4
8.6
9.4
9.7
9.4
9.6
1987

1988
17.9
23.3
12.6
17.8
16.2
15.3
13.0
15.7
16.3
17.7
18.3
18.8
16.2
14.1
11.3
12.5
12.4
12.1
12.2
11.9
8.9
9.7
10.1
9.7
9.9
1988

1989
28.9
10.1
17.7
15.7
14.8
12.2
15.4
16.1
17.7
18.4
18.9
16.1
13.8
10.8
12.1
12.1
11.7
11.9
11.6
8.5
9.4
9.7
9.3
9.6
1989

1990
-6.0
12.5
11.6
11.5
9.1
13.3
14.4
16.4
17.2
18.0
15.0
12.6
9.5
11.0
11.0
10.7
11.0
10.7
7.5
8.5
8.9
8.5
8.8
1990

1991
34.7
21.7
18.1
13.2
17.6
18.2
20.0
20.5
21.0
17.4
14.5
10.9
12.4
12.4
12.0
12.2
11.8
8.3
9.3
9.7
9.3
9.5
1991

1992
9.9
10.6
6.9
13.6
15.2
17.7
18.6
19.4
15.6
12.6
9.0
10.7
10.8
10.5
10.8
10.5
6.9
8.0
8.5
8.1
8.5
1992

MATR IX BOOK 2013

1993
11.3
5.4
14.9
16.5
19.3
20.1
20.8
16.3
12.9
8.9
10.8
10.9
10.5
10.9
10.5
6.7
7.9
8.5
8.0
8.4
1993

1994
-0.2
16.8
18.3
21.4
22.0
22.5
17.0
13.1
8.7
10.8
10.9
10.5
10.8
10.5
6.4
7.7
8.3
7.9
8.2
1994

1995
36.6
28.8
29.6
28.3
27.6
20.2
15.2
9.8
12.1
12.0
11.5
11.8
11.3
6.9
8.3
8.8
8.4
8.7
1995

1996
21.4
26.3
25.6
25.4
17.2
11.9
6.4
9.3
9.6
9.3
9.8
9.4
4.9
6.5
7.2
6.8
7.3
1996

1997
31.3
27.7
26.8
16.1
10.1
4.1
7.7
8.2
8.0
8.7
8.4
3.6
5.4
6.3
5.9
6.5
1997

1998
24.3
24.6
11.4
5.4
-0.6
4.2
5.2
5.4
6.4
6.3
1.4
3.5
4.5
4.3
5.0
1998

1999
24.9
5.5
-0.3
-6.0
0.6
2.4
2.9
4.4
4.5
-0.6
1.8
3.0
2.9
3.7
1999

2000
-10.8
-10.9
-14.5
-4.7
-1.6
-0.4
1.8
2.2
-3.1
-0.3
1.3
1.2
2.2
2000

2001
-10.9
-16.3
-2.6
0.8
1.9
4.0
4.2
-2.1
1.0
2.6
2.4
3.4
2001

2002
-21.3
1.8
5.1
5.4
7.3
7.0
-0.7
2.6
4.2
3.9
4.8
2002

2003
31.8
21.4
16.1
15.9
13.8
3.2
6.5
7.9
7.1
7.9
2003

2004
11.9
9.0
11.1
9.7
-1.8
2.8
4.8
4.4
5.5
2004

2005
6.2
10.7
8.9
-4.9
1.1
3.7
3.3
4.7
2005

2006
15.4
10.3
-8.3
-0.1
3.2
2.9
4.5
2006

2007
5.5
-18.3
-4.8
0.4
0.5
2.8
2007

2008
-36.7
-9.6
-1.2
-0.7
2.3
2008

2009
29.1 2010
23.3 17.8 2011
15.4 9.1 1.0 2012
15.3 11.0 7.8 15.1
2009 2010 2011 2012

13
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

14

1928
37.3
7.9
-7.5
-19.5
-17.3
-6.5
-4.9
0.4
3.8
-1.2
1.2
1.2
0.5
-0.1
1.0
2.8
4.1
6.0
5.3
5.2
5.0
5.6
6.7
7.2
7.4
7.1
8.5
9.0
9.0
8.2
9.4
9.5
9.2
9.7
9.1
9.4
9.6
9.8
9.3
9.9
10.1
9.5
9.2
9.4
9.5
8.7
7.8
8.4
8.9
8.7
8.8
9.1
9.5
9.3
9.6
9.9
9.7
10.1
10.2
10.0
10.2
10.4
10.1
10.4
10.5
10.5
10.4
10.7
10.9
11.1
11.2
11.3
11.1
10.9
10.4
10.7
10.8
10.7
10.8
10.7
9.9
10.2
10.3
10.1
10.2
1928

1929
-15.3
-24.1
-32.7
-27.1
-13.5
-10.6
-4.0
0.3
-4.8
-1.8
-1.6
-2.0
-2.6
-1.2
0.8
2.3
4.4
3.8
3.7
3.6
4.3
5.5
6.0
6.3
6.0
7.5
8.1
8.1
7.3
8.5
8.7
8.4
9.0
8.3
8.7
8.9
9.2
8.7
9.3
9.5
8.9
8.6
8.8
8.9
8.1
7.2
7.9
8.4
8.2
8.3
8.6
9.0
8.9
9.1
9.4
9.3
9.7
9.8
9.6
9.8
10.0
9.7
10.1
10.1
10.2
10.0
10.4
10.5
10.8
10.9
11.0
10.8
10.6
10.1
10.4
10.5
10.4
10.5
10.4
9.6
9.9
10.0
9.9
9.9
1929

1930
-32.1
-40.0
-30.7
-13.0
-9.6
-2.0
2.7
-3.4
-0.2
-0.1
-0.7
-1.4
0.0
2.1
3.6
5.8
5.0
4.9
4.7
5.4
6.6
7.1
7.4
7.0
8.6
9.1
9.1
8.3
9.5
9.6
9.3
9.8
9.1
9.5
9.7
9.9
9.4
10.0
10.3
9.5
9.3
9.5
9.6
8.7
7.8
8.4
8.9
8.8
8.8
9.2
9.6
9.4
9.6
9.9
9.8
10.2
10.3
10.1
10.3
10.5
10.1
10.5
10.6
10.6
10.5
10.8
10.9
11.2
11.3
11.4
11.2
11.0
10.5
10.8
10.8
10.8
10.9
10.8
10.0
10.2
10.3
10.2
10.3
1930

1931
-46.9
-30.0
-5.5
-2.9
5.4
10.0
1.6
4.7
4.2
3.1
2.0
3.3
5.4
6.7
8.9
7.9
7.6
7.2
7.9
9.0
9.5
9.6
9.2
10.7
11.2
11.1
10.1
11.3
11.4
11.0
11.5
10.8
11.1
11.2
11.4
10.9
11.5
11.7
10.9
10.6
10.7
10.8
9.9
8.9
9.6
10.1
9.9
9.9
10.2
10.6
10.4
10.7
10.9
10.8
11.2
11.2
11.0
11.2
11.4
11.0
11.4
11.4
11.5
11.3
11.6
11.8
12.0
12.1
12.2
12.0
11.7
11.2
11.5
11.6
11.5
11.6
11.5
10.7
10.9
11.0
10.9
10.9
1931

1932
-7.7
26.1
18.8
25.2
27.3
13.2
15.4
13.4
11.0
8.9
9.7
11.6
12.6
14.7
13.1
12.5
11.7
12.2
13.2
13.5
13.5
12.8
14.3
14.7
14.4
13.3
14.4
14.4
13.9
14.3
13.4
13.6
13.7
13.9
13.2
13.8
13.9
13.1
12.7
12.8
12.8
11.8
10.8
11.4
11.8
11.6
11.6
11.9
12.3
12.0
12.3
12.5
12.3
12.7
12.7
12.5
12.6
12.9
12.4
12.8
12.8
12.8
12.6
12.9
13.1
13.3
13.4
13.5
13.2
12.9
12.4
12.7
12.7
12.6
12.7
12.6
11.7
12.0
12.1
11.9
12.0
1932

1933
72.2
34.7
38.6
38.0
17.9
19.8
16.8
13.6
10.9
11.6
13.5
14.5
16.6
14.8
14.0
13.1
13.5
14.5
14.8
14.7
13.9
15.4
15.8
15.4
14.2
15.4
15.3
14.7
15.2
14.2
14.4
14.5
14.6
13.9
14.5
14.6
13.7
13.3
13.4
13.4
12.4
11.2
11.9
12.3
12.1
12.1
12.4
12.7
12.5
12.7
13.0
12.8
13.1
13.2
12.9
13.0
13.3
12.8
13.2
13.2
13.2
13.0
13.3
13.4
13.7
13.7
13.8
13.6
13.3
12.7
13.0
13.0
13.0
13.0
12.9
12.0
12.2
12.3
12.2
12.2
1933

Dimensional US Adjusted
Market 1 Index
1934
5.4
24.3
28.1
7.3
11.4
9.5
7.0
4.9
6.4
8.9
10.3
12.9
11.2
10.6
9.9
10.6
11.8
12.2
12.2
11.6
13.2
13.7
13.4
12.3
13.6
13.5
13.0
13.5
12.6
12.9
13.0
13.2
12.5
13.1
13.3
12.4
12.0
12.1
12.2
11.2
10.1
10.7
11.2
11.0
11.0
11.3
11.7
11.5
11.7
12.0
11.8
12.2
12.3
12.0
12.2
12.4
12.0
12.4
12.4
12.4
12.2
12.5
12.7
12.9
13.0
13.1
12.9
12.6
12.0
12.3
12.4
12.3
12.4
12.2
11.4
11.6
11.7
11.5
11.6
1934

1935
46.7
41.3
7.9
13.0
10.3
7.3
4.9
6.5
9.3
10.8
13.6
11.8
11.1
10.3
10.9
12.2
12.6
12.6
11.9
13.7
14.1
13.8
12.6
13.9
13.9
13.3
13.8
12.9
13.1
13.3
13.5
12.7
13.3
13.5
12.6
12.2
12.3
12.4
11.3
10.2
10.9
11.4
11.1
11.1
11.5
11.9
11.6
11.9
12.2
12.0
12.3
12.4
12.2
12.3
12.5
12.1
12.5
12.5
12.5
12.3
12.7
12.8
13.1
13.1
13.3
13.0
12.7
12.1
12.4
12.5
12.4
12.5
12.3
11.4
11.7
11.8
11.6
11.7
1935

1928–2012: Total Returns (%)
1936
36.1
-7.5
3.6
2.8
0.8
-0.8
1.8
5.3
7.5
10.7
9.0
8.5
7.9
8.7
10.2
10.8
10.9
10.2
12.1
12.7
12.5
11.2
12.7
12.7
12.2
12.7
11.8
12.1
12.3
12.5
11.8
12.4
12.7
11.7
11.4
11.5
11.6
10.5
9.4
10.1
10.6
10.4
10.4
10.8
11.2
11.0
11.2
11.5
11.4
11.7
11.8
11.6
11.7
12.0
11.6
12.0
12.0
12.0
11.8
12.2
12.3
12.6
12.7
12.8
12.5
12.2
11.7
12.0
12.0
12.0
12.0
11.9
11.0
11.3
11.4
11.2
11.3
1936

1937
-37.1
-9.6
-6.4
-6.5
-6.9
-3.0
1.5
4.3
8.2
6.6
6.3
5.8
6.9
8.6
9.3
9.5
8.9
10.9
11.6
11.4
10.2
11.7
11.8
11.3
11.9
10.9
11.3
11.5
11.7
11.0
11.7
12.0
11.1
10.7
10.9
10.9
9.9
8.7
9.5
10.1
9.8
9.9
10.3
10.7
10.5
10.7
11.1
10.9
11.3
11.4
11.1
11.3
11.6
11.2
11.6
11.6
11.6
11.4
11.8
12.0
12.2
12.3
12.5
12.2
11.9
11.3
11.7
11.7
11.7
11.7
11.6
10.7
11.0
11.1
10.9
11.0
1937

GROWTH OF $1
1938
29.9
14.1
6.7
2.7
5.7
9.9
12.1
15.8
13.1
12.0
10.9
11.7
13.2
13.7
13.6
12.7
14.7
15.2
14.8
13.3
14.8
14.7
14.1
14.6
13.5
13.8
13.9
14.1
13.2
13.9
14.1
13.0
12.6
12.7
12.7
11.6
10.4
11.1
11.6
11.4
11.4
11.7
12.2
11.9
12.1
12.4
12.2
12.6
12.7
12.4
12.6
12.8
12.4
12.8
12.8
12.8
12.6
12.9
13.0
13.3
13.4
13.5
13.2
12.9
12.3
12.6
12.7
12.6
12.7
12.5
11.6
11.9
12.0
11.8
11.9
1938

$100,000
1939
0.2
-3.3
-5.1
0.4
6.3
9.4
13.9
11.1
10.2
9.2
10.2
11.9
12.5
12.5
11.6
13.8
14.3
14.0
12.5
14.1
14.0
13.4
14.0
12.8
13.2
13.3
13.5
12.7
13.4
13.6
12.5
12.1
12.2
12.3
11.1
9.9
10.7
11.2
10.9
10.9
11.3
11.8
11.5
11.8
12.1
11.9
12.3
12.3
12.1
12.3
12.5
12.0
12.5
12.5
12.5
12.3
12.6
12.8
13.1
13.1
13.3
13.0
12.7
12.1
12.4
12.4
12.4
12.4
12.3
11.3
11.6
11.7
11.6
11.6
1939

1940
-6.7
-7.6
0.5
7.9
11.4
16.3
12.8
11.5
10.3
11.2
13.1
13.6
13.5
12.5
14.8
15.3
14.9
13.2
14.9
14.8
14.1
14.6
13.4
13.7
13.9
14.1
13.2
13.9
14.1
13.0
12.5
12.6
12.7
11.5
10.2
11.0
11.5
11.2
11.2
11.6
12.1
11.8
12.0
12.4
12.2
12.6
12.6
12.3
12.5
12.8
12.3
12.7
12.7
12.7
12.5
12.9
13.0
13.3
13.4
13.5
13.2
12.9
12.3
12.6
12.6
12.6
12.6
12.5
11.5
11.8
11.9
11.7
11.8
1940

$3,925

$10,000
1941
-8.6
4.2
13.3
16.4
21.6
16.4
14.4
12.6
13.4
15.3
15.6
15.4
14.1
16.5
16.9
16.4
14.5
16.2
16.0
15.2
15.8
14.4
14.7
14.8
15.0
14.0
14.7
14.9
13.7
13.2
13.3
13.3
12.1
10.7
11.5
12.1
11.8
11.7
12.1
12.6
12.3
12.5
12.9
12.6
13.0
13.1
12.8
13.0
13.2
12.7
13.1
13.1
13.1
12.9
13.3
13.4
13.7
13.7
13.9
13.6
13.2
12.6
12.9
13.0
12.9
12.9
12.8
11.8
12.1
12.2
12.0
12.1
1941

1942
18.8
26.1
26.1
30.6
22.1
18.7
16.0
16.5
18.3
18.4
17.9
16.2
18.7
19.0
18.3
16.1
17.9
17.6
16.6
17.2
15.7
15.9
15.9
16.1
15.0
15.7
15.9
14.6
14.1
14.1
14.1
12.8
11.3
12.2
12.7
12.4
12.4
12.7
13.2
12.9
13.1
13.4
13.2
13.6
13.6
13.3
13.5
13.7
13.2
13.6
13.6
13.6
13.3
13.7
13.8
14.1
14.2
14.3
14.0
13.6
13.0
13.3
13.3
13.3
13.3
13.1
12.1
12.4
12.5
12.3
12.4
1942

$1,000
1943
33.8
30.0
34.7
23.0
18.7
15.5
16.2
18.2
18.3
17.8
16.0
18.7
19.0
18.2
16.0
17.8
17.5
16.5
17.1
15.5
15.8
15.8
16.0
14.9
15.6
15.8
14.5
13.9
14.0
14.0
12.6
11.1
12.0
12.5
12.2
12.2
12.6
13.0
12.7
13.0
13.3
13.0
13.5
13.5
13.2
13.3
13.6
13.1
13.5
13.5
13.5
13.2
13.6
13.8
14.1
14.1
14.2
13.9
13.5
12.9
13.2
13.3
13.2
13.2
13.1
12.0
12.3
12.4
12.2
12.3
1943

1944
26.2
35.2
19.6
15.2
12.1
13.5
16.1
16.5
16.1
14.3
17.4
17.9
17.1
14.8
16.8
16.6
15.6
16.2
14.6
14.9
15.0
15.2
14.1
14.9
15.1
13.8
13.2
13.3
13.3
12.0
10.4
11.3
12.0
11.6
11.6
12.0
12.5
12.2
12.5
12.8
12.6
13.0
13.1
12.8
12.9
13.2
12.7
13.1
13.1
13.1
12.9
13.3
13.4
13.7
13.8
13.9
13.6
13.2
12.6
12.9
13.0
12.9
12.9
12.8
11.7
12.0
12.1
11.9
12.0
1944

$100
1945
44.8
16.4
11.8
8.9
11.1
14.5
15.2
14.9
13.1
16.5
17.1
16.4
13.9
16.1
16.0
14.9
15.6
14.0
14.4
14.5
14.7
13.6
14.4
14.7
13.3
12.7
12.9
12.9
11.5
10.0
10.9
11.5
11.2
11.2
11.7
12.2
11.8
12.1
12.5
12.3
12.7
12.8
12.5
12.6
12.9
12.4
12.9
12.9
12.9
12.6
13.0
13.2
13.5
13.5
13.7
13.4
13.0
12.3
12.7
12.7
12.7
12.7
12.6
11.5
11.8
11.9
11.7
11.8
1945

1946
-6.5
-1.8
-1.0
4.0
9.3
10.9
11.2
9.6
13.8
14.7
14.1
11.7
14.2
14.1
13.2
14.0
12.4
12.9
13.1
13.4
12.3
13.2
13.5
12.2
11.6
11.8
11.9
10.5
8.9
9.9
10.6
10.3
10.3
10.8
11.4
11.0
11.4
11.8
11.5
12.0
12.1
11.8
12.0
12.3
11.8
12.2
12.3
12.3
12.0
12.5
12.6
13.0
13.0
13.2
12.9
12.5
11.8
12.2
12.3
12.2
12.2
12.1
11.1
11.4
11.5
11.3
11.4
1946

$10
1947
3.1
1.9
7.7
13.6
14.7
14.4
12.1
16.6
17.3
16.4
13.5
16.1
15.9
14.7
15.5
13.7
14.1
14.3
14.5
13.3
14.3
14.5
13.0
12.4
12.6
12.6
11.1
9.5
10.5
11.2
10.9
10.9
11.4
11.9
11.6
11.9
12.3
12.0
12.5
12.6
12.3
12.5
12.8
12.2
12.7
12.7
12.7
12.5
12.9
13.0
13.4
13.4
13.6
13.3
12.9
12.2
12.6
12.6
12.5
12.6
12.4
11.4
11.7
11.8
11.6
11.7
1947

1948
0.7
10.1
17.4
17.8
16.8
13.7
18.7
19.2
17.9
14.6
17.4
17.0
15.7
16.5
14.5
14.8
15.0
15.2
13.9
14.8
15.1
13.5
12.9
13.0
13.0
11.5
9.8
10.8
11.5
11.2
11.2
11.6
12.2
11.8
12.2
12.6
12.3
12.8
12.8
12.5
12.7
13.0
12.4
12.9
12.9
13.0
12.7
13.1
13.3
13.6
13.7
13.8
13.5
13.1
12.4
12.8
12.8
12.7
12.8
12.6
11.5
11.8
12.0
11.7
11.8
1948

$1
1949
20.4
26.7
24.2
21.2
16.5
21.9
22.1
20.3
16.3
19.2
18.6
17.0
17.8
15.5
15.9
15.9
16.1
14.6
15.6
15.9
14.2
13.5
13.6
13.6
11.9
10.1
11.2
11.9
11.6
11.5
12.0
12.6
12.2
12.5
12.9
12.6
13.1
13.2
12.8
13.0
13.3
12.7
13.2
13.2
13.3
12.9
13.4
13.5
13.9
13.9
14.1
13.7
13.3
12.6
13.0
13.0
12.9
13.0
12.8
11.7
12.0
12.1
11.9
12.0
1949

1950
33.3
26.1
21.5
15.6
22.3
22.4
20.3
15.8
19.1
18.5
16.7
17.6
15.2
15.5
15.6
15.9
14.3
15.4
15.6
13.9
13.1
13.3
13.3
11.6
9.7
10.9
11.6
11.3
11.2
11.7
12.3
12.0
12.3
12.7
12.4
12.9
13.0
12.6
12.8
13.2
12.5
13.1
13.1
13.1
12.8
13.2
13.4
13.7
13.8
14.0
13.6
13.2
12.5
12.9
12.9
12.8
12.9
12.7
11.6
11.9
12.0
11.8
11.9
1950

1951
19.3
16.0
10.2
19.6
20.3
18.2
13.4
17.4
16.9
15.2
16.2
13.8
14.3
14.5
14.8
13.2
14.4
14.7
12.9
12.2
12.4
12.5
10.7
8.8
10.0
10.9
10.5
10.5
11.1
11.7
11.3
11.7
12.1
11.9
12.4
12.5
12.1
12.3
12.7
12.1
12.6
12.6
12.7
12.4
12.8
13.0
13.4
13.4
13.6
13.2
12.8
12.1
12.5
12.5
12.5
12.5
12.4
11.2
11.6
11.7
11.5
11.6
1951

$0
1928
1952
12.9
5.9
19.7
20.6
18.0
12.5
17.1
16.6
14.7
15.9
13.3
13.9
14.1
14.5
12.8
14.1
14.5
12.6
11.8
12.1
12.1
10.3
8.4
9.7
10.5
10.2
10.2
10.8
11.4
11.1
11.5
11.9
11.6
12.2
12.3
11.9
12.2
12.5
11.9
12.4
12.5
12.5
12.2
12.7
12.9
13.2
13.3
13.5
13.1
12.7
12.0
12.4
12.4
12.3
12.4
12.2
11.1
11.4
11.6
11.4
11.4
1952

D I M E N S I O N A L F U N D A D VI S O R S

1953
-0.6
23.3
23.2
19.4
12.4
17.8
17.2
14.9
16.3
13.3
14.0
14.2
14.6
12.8
14.2
14.6
12.6
11.8
12.0
12.1
10.2
8.2
9.5
10.4
10.1
10.1
10.7
11.4
11.0
11.4
11.9
11.6
12.2
12.3
11.9
12.1
12.5
11.9
12.4
12.5
12.5
12.2
12.7
12.9
13.2
13.3
13.5
13.1
12.7
11.9
12.4
12.4
12.3
12.4
12.2
11.1
11.4
11.5
11.3
11.4
1953

2012
Index data compiled by Dimensional.

1954
53.1
37.3
26.9
15.9
21.9
20.4
17.4
18.6
15.0
15.5
15.7
16.0
13.9
15.3
15.6
13.4
12.6
12.8
12.8
10.8
8.7
10.0
10.9
10.5
10.6
11.2
11.9
11.4
11.9
12.3
12.0
12.6
12.7
12.3
12.5
12.9
12.2
12.8
12.8
12.8
12.5
13.0
13.2
13.6
13.6
13.8
13.4
13.0
12.2
12.6
12.7
12.6
12.7
12.5
11.3
11.6
11.8
11.5
11.6
1954

1955
23.1
15.5
5.7
15.2
14.8
12.3
14.3
10.9
12.0
12.5
13.1
11.2
12.9
13.3
11.2
10.4
10.8
10.9
8.9
6.8
8.3
9.3
9.0
9.1
9.8
10.5
10.1
10.6
11.1
10.9
11.5
11.6
11.3
11.5
11.9
11.3
11.9
11.9
12.0
11.6
12.2
12.4
12.8
12.9
13.1
12.7
12.3
11.5
11.9
12.0
11.9
12.0
11.8
10.6
11.0
11.1
10.9
11.0
1955

1956
8.4
-2.1
12.7
12.8
10.2
13.0
9.3
10.7
11.3
12.1
10.1
12.0
12.6
10.4
9.6
10.1
10.3
8.2
6.0
7.6
8.7
8.4
8.5
9.2
10.1
9.7
10.2
10.7
10.5
11.1
11.3
10.9
11.2
11.6
10.9
11.6
11.6
11.7
11.4
11.9
12.1
12.6
12.6
12.9
12.5
12.0
11.2
11.7
11.8
11.7
11.8
11.6
10.4
10.8
10.9
10.7
10.8
1956

1957
-11.5
14.9
14.3
10.7
13.9
9.4
11.0
11.7
12.5
10.3
12.4
13.0
10.6
9.7
10.2
10.4
8.2
5.9
7.6
8.7
8.4
8.5
9.3
10.1
9.7
10.2
10.8
10.5
11.2
11.4
11.0
11.3
11.7
11.0
11.7
11.7
11.8
11.5
12.0
12.2
12.7
12.8
13.0
12.6
12.1
11.3
11.8
11.9
11.8
11.9
11.7
10.4
10.8
11.0
10.8
10.9
1957

1958
49.1
29.9
19.3
21.3
14.2
15.3
15.5
16.0
13.0
15.1
15.5
12.6
11.5
11.9
12.0
9.6
7.0
8.7
9.9
9.5
9.6
10.3
11.2
10.7
11.2
11.8
11.5
12.1
12.2
11.8
12.1
12.5
11.8
12.4
12.5
12.5
12.1
12.7
12.9
13.3
13.4
13.6
13.2
12.7
11.9
12.4
12.4
12.3
12.4
12.2
10.9
11.3
11.5
11.2
11.3
1958

1959
13.3
6.7
13.3
6.8
9.5
10.7
11.9
9.2
11.8
12.6
9.8
8.9
9.5
9.7
7.3
4.8
6.7
8.1
7.7
7.9
8.8
9.7
9.3
9.9
10.5
10.2
11.0
11.1
10.7
11.0
11.5
10.8
11.5
11.5
11.6
11.3
11.9
12.1
12.6
12.6
12.9
12.4
12.0
11.2
11.7
11.7
11.6
11.7
11.6
10.3
10.7
10.8
10.6
10.7
1959

1960
0.5
13.3
4.8
8.6
10.2
11.7
8.6
11.7
12.6
9.4
8.5
9.2
9.5
6.9
4.3
6.4
7.8
7.4
7.6
8.5
9.5
9.1
9.7
10.4
10.1
10.9
11.0
10.6
11.0
11.4
10.7
11.4
11.5
11.6
11.2
11.8
12.1
12.5
12.6
12.9
12.4
12.0
11.1
11.6
11.7
11.6
11.7
11.5
10.2
10.6
10.8
10.6
10.7
1960

1961
27.6
7.0
11.4
12.8
14.0
10.0
13.3
14.2
10.5
9.3
10.0
10.3
7.4
4.5
6.8
8.3
7.9
8.0
9.0
10.0
9.5
10.2
10.8
10.5
11.3
11.5
11.0
11.4
11.8
11.1
11.8
11.9
11.9
11.5
12.2
12.4
12.9
13.0
13.2
12.7
12.3
11.4
11.9
12.0
11.9
12.0
11.8
10.4
10.8
11.0
10.8
10.9
1961

1962
-10.3
4.1
8.2
10.9
6.8
11.1
12.4
8.5
7.5
8.4
8.8
5.9
2.9
5.4
7.1
6.7
7.0
8.0
9.2
8.7
9.4
10.1
9.8
10.7
10.9
10.4
10.8
11.3
10.5
11.3
11.4
11.5
11.1
11.7
12.0
12.5
12.6
12.8
12.4
11.9
11.0
11.5
11.6
11.5
11.6
11.4
10.1
10.5
10.7
10.5
10.6
1962

1963
20.7
18.8
19.0
11.6
16.0
16.7
11.5
9.9
10.7
10.9
7.5
4.1
6.7
8.4
8.0
8.1
9.2
10.4
9.8
10.5
11.2
10.8
11.7
11.8
11.4
11.7
12.2
11.4
12.1
12.2
12.2
11.8
12.5
12.7
13.2
13.3
13.5
13.1
12.5
11.6
12.1
12.2
12.1
12.2
12.0
10.6
11.0
11.2
10.9
11.0
1963

1964
17.0
18.1
8.7
14.8
15.9
10.0
8.5
9.5
9.9
6.3
2.7
5.6
7.5
7.1
7.4
8.5
9.8
9.2
10.0
10.8
10.4
11.3
11.5
11.0
11.4
11.9
11.0
11.8
11.9
12.0
11.6
12.2
12.5
13.0
13.1
13.4
12.9
12.3
11.4
11.9
12.0
11.9
12.0
11.8
10.4
10.8
11.0
10.7
10.9
1964

1965
19.3
4.8
14.1
15.6
8.7
7.1
8.4
9.0
5.1
1.4
4.6
6.8
6.4
6.7
8.0
9.3
8.8
9.6
10.4
10.1
11.0
11.2
10.7
11.1
11.7
10.8
11.7
11.7
11.8
11.4
12.1
12.4
12.9
13.0
13.3
12.7
12.2
11.2
11.8
11.9
11.8
11.9
11.7
10.2
10.7
10.9
10.6
10.7
1965

1966
-7.9
11.6
14.4
6.2
4.8
6.7
7.6
3.5
-0.4
3.3
5.7
5.4
5.8
7.2
8.7
8.2
9.0
10.0
9.6
10.6
10.9
10.4
10.8
11.4
10.5
11.4
11.4
11.5
11.1
11.8
12.1
12.7
12.8
13.1
12.6
12.0
11.0
11.6
11.7
11.6
11.7
11.5
10.0
10.5
10.7
10.4
10.6
1966

1967
35.3
27.4
11.4
8.2
9.9
10.5
5.2
0.6
4.6
7.2
6.7
7.0
8.5
10.0
9.3
10.2
11.1
10.7
11.7
11.9
11.3
11.7
12.3
11.3
12.2
12.3
12.3
11.9
12.6
12.9
13.4
13.5
13.8
13.2
12.7
11.6
12.2
12.3
12.1
12.2
12.0
10.5
10.9
11.1
10.9
11.0
1967

1968
20.0
1.0
0.5
4.3
6.1
0.9
-3.6
1.3
4.4
4.2
4.8
6.5
8.3
7.7
8.7
9.8
9.4
10.5
10.8
10.2
10.7
11.4
10.4
11.4
11.4
11.5
11.1
11.9
12.2
12.8
12.9
13.2
12.6
12.0
11.0
11.6
11.7
11.6
11.7
11.5
9.9
10.4
10.6
10.4
10.5
1968

1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

1969
-14.9
-8.1
-0.4
2.9
-2.5
-7.0
-1.1
2.6
2.6
3.3
5.3
7.3
6.8
7.9
9.1
8.7
10.0
10.3
9.7
10.3
11.0
9.9
11.0
11.1
11.2
10.7
11.6
11.9
12.5
12.7
13.0
12.4
11.8
10.7
11.4
11.5
11.4
11.5
11.3
9.7
10.2
10.4
10.1
10.3
1969

1970
-0.6
7.7
9.6
0.8
-5.4
1.4
5.4
5.0
5.6
7.6
9.6
8.8
9.9
11.1
10.5
11.8
12.0
11.3
11.8
12.5
11.3
12.3
12.4
12.5
11.9
12.7
13.1
13.7
13.8
14.0
13.4
12.8
11.6
12.3
12.3
12.2
12.3
12.1
10.4
10.9
11.1
10.8
11.0
1970

1971
16.8
15.1
1.3
-6.5
1.8
6.5
5.8
6.4
8.6
10.7
9.7
10.9
12.0
11.4
12.6
12.8
12.0
12.5
13.2
11.9
13.0
13.0
13.1
12.5
13.3
13.6
14.2
14.3
14.6
13.9
13.2
12.0
12.7
12.7
12.6
12.7
12.4
10.7
11.2
11.4
11.1
11.3
1971

1972
13.4
-5.6
-13.2
-1.6
4.5
4.1
5.0
7.6
10.0
9.1
10.3
11.6
11.0
12.4
12.6
11.8
12.3
13.0
11.7
12.8
12.8
12.9
12.3
13.2
13.5
14.1
14.2
14.5
13.8
13.1
11.9
12.6
12.6
12.5
12.6
12.3
10.6
11.1
11.3
11.0
11.1
1972

1973
-21.4
-24.1
-6.2
2.4
2.3
3.7
6.8
9.6
8.6
10.0
11.5
10.8
12.3
12.5
11.7
12.2
13.0
11.6
12.8
12.8
12.9
12.2
13.2
13.5
14.2
14.2
14.5
13.8
13.1
11.8
12.5
12.6
12.4
12.6
12.3
10.5
11.0
11.2
10.9
11.1
1973

1974
-26.6
2.5
11.9
9.3
9.6
12.4
15.0
13.1
14.2
15.4
14.3
15.7
15.6
14.5
14.9
15.6
13.9
15.1
15.0
14.9
14.2
15.1
15.3
15.9
16.0
16.2
15.4
14.6
13.2
13.9
13.9
13.7
13.8
13.5
11.6
12.1
12.3
11.9
12.1
1974

1975
43.1
38.2
24.8
21.1
22.4
23.9
20.3
20.7
21.4
19.5
20.5
20.1
18.5
18.6
19.1
17.1
18.2
17.9
17.7
16.7
17.5
17.7
18.3
18.2
18.4
17.4
16.5
15.0
15.6
15.6
15.3
15.4
15.0
12.9
13.4
13.6
13.2
13.3
1975

1976
33.4
16.5
14.6
17.7
20.4
16.8
17.8
18.9
17.1
18.5
18.2
16.6
16.9
17.6
15.5
16.7
16.6
16.4
15.5
16.4
16.6
17.3
17.2
17.4
16.5
15.6
14.0
14.8
14.8
14.5
14.6
14.2
12.1
12.7
12.9
12.5
12.6
1976

1977
1.8
6.1
12.9
17.3
13.8
15.4
17.0
15.2
16.9
16.8
15.2
15.6
16.4
14.3
15.7
15.6
15.5
14.5
15.6
15.8
16.5
16.5
16.8
15.8
14.9
13.3
14.1
14.1
13.9
14.0
13.6
11.5
12.1
12.3
11.9
12.1
1977

1978
10.7
18.9
23.0
17.0
18.3
19.7
17.3
19.0
18.6
16.6
17.0
17.7
15.4
16.8
16.6
16.4
15.3
16.4
16.6
17.3
17.3
17.5
16.5
15.5
13.8
14.6
14.6
14.4
14.4
14.0
11.9
12.4
12.7
12.3
12.4
1978

1979
27.7
29.7
19.2
20.3
21.6
18.4
20.2
19.6
17.3
17.6
18.4
15.8
17.3
17.0
16.8
15.6
16.7
17.0
17.7
17.6
17.8
16.8
15.7
14.0
14.8
14.8
14.5
14.6
14.2
11.9
12.5
12.7
12.3
12.4
1979

1980
31.7
15.1
18.0
20.2
16.6
19.0
18.5
16.1
16.6
17.5
14.7
16.4
16.2
16.0
14.9
16.1
16.4
17.2
17.1
17.4
16.3
15.2
13.4
14.3
14.3
14.0
14.1
13.7
11.4
12.0
12.3
11.8
12.0
1980

1981
0.6
11.6
16.5
13.1
16.6
16.4
14.0
14.8
16.0
13.2
15.1
15.0
14.9
13.8
15.1
15.5
16.3
16.4
16.7
15.5
14.5
12.6
13.6
13.6
13.4
13.5
13.1
10.7
11.4
11.7
11.3
11.4
1981

1982
23.9
25.4
17.6
21.0
19.9
16.4
17.0
18.1
14.7
16.7
16.4
16.2
14.8
16.2
16.5
17.4
17.4
17.6
16.4
15.2
13.2
14.2
14.2
13.9
14.0
13.6
11.1
11.8
12.1
11.6
11.8
1982

1983
27.0
14.6
20.1
18.9
15.0
15.9
17.3
13.6
15.9
15.7
15.5
14.1
15.6
16.0
17.0
17.0
17.3
16.0
14.8
12.7
13.8
13.8
13.5
13.6
13.2
10.6
11.4
11.7
11.2
11.4
1983

1984
3.4
16.8
16.3
12.2
13.8
15.8
11.8
14.6
14.5
14.4
13.0
14.7
15.2
16.3
16.3
16.7
15.4
14.1
12.0
13.1
13.2
12.9
13.1
12.7
10.0
10.8
11.2
10.7
10.9
1984

1985
31.9
23.4
15.2
16.5
18.4
13.2
16.3
15.9
15.7
14.0
15.8
16.3
17.4
17.3
17.6
16.2
14.8
12.5
13.7
13.7
13.4
13.5
13.1
10.3
11.1
11.5
11.0
11.2
1985

1986
15.5
7.7
11.8
15.3
9.8
13.9
13.8
13.9
12.2
14.3
14.9
16.2
16.3
16.7
15.2
13.8
11.5
12.7
12.8
12.6
12.7
12.3
9.5
10.3
10.7
10.3
10.5
1986

1987
0.5
10.1
15.3
8.4
13.6
13.6
13.6
11.8
14.2
14.9
16.3
16.3
16.8
15.2
13.7
11.2
12.6
12.7
12.4
12.6
12.2
9.2
10.1
10.5
10.1
10.3
1987

1988
20.6
23.5
11.3
17.1
16.4
16.0
13.5
16.1
16.6
18.0
17.9
18.2
16.4
14.7
12.0
13.4
13.5
13.1
13.3
12.8
9.6
10.6
11.0
10.5
10.7
1988

1989
26.4
6.9
16.0
15.3
15.1
12.4
15.4
16.1
17.7
17.6
18.0
16.0
14.2
11.4
12.9
13.0
12.7
12.9
12.4
9.1
10.1
10.6
10.1
10.3
1989

1990
-9.7
11.1
11.9
12.4
9.8
13.7
14.7
16.7
16.7
17.2
15.1
13.3
10.3
12.0
12.2
11.9
12.1
11.6
8.3
9.4
9.9
9.4
9.7
1990

1991
36.6
24.5
20.9
15.3
19.0
19.4
21.0
20.5
20.7
18.0
15.6
12.2
13.9
13.9
13.5
13.7
13.0
9.4
10.5
10.9
10.4
10.7
1991

1992
13.5
13.7
8.9
15.0
16.2
18.6
18.3
18.8
16.1
13.7
10.2
12.2
12.4
12.0
12.3
11.7
8.0
9.2
9.7
9.2
9.6
1992

1993
14.0
6.7
15.5
16.9
19.7
19.1
19.6
16.4
13.8
9.8
12.0
12.3
11.9
12.2
11.6
7.6
8.9
9.5
9.0
9.4
1993

MATR IX BOOK 2013

1994
-0.2
16.3
17.9
21.1
20.2
20.5
16.7
13.7
9.4
11.8
12.1
11.7
12.0
11.4
7.2
8.6
9.3
8.7
9.1
1994

1995
35.4
28.2
29.2
25.9
25.2
19.8
15.9
10.7
13.3
13.4
12.8
13.1
12.4
7.8
9.2
9.9
9.2
9.7
1995

1996
21.3
26.2
22.9
22.7
16.9
12.9
7.5
10.8
11.2
10.8
11.3
10.6
5.9
7.6
8.4
7.8
8.3
1996

1997
31.2
23.7
23.2
15.8
11.3
5.4
9.3
10.0
9.7
10.3
9.7
4.7
6.6
7.5
6.9
7.5
1997

1998
16.5
19.4
11.1
6.8
0.8
6.1
7.3
7.3
8.2
7.8
2.6
4.7
5.9
5.4
6.1
1998

1999
22.2
8.5
3.7
-2.8
4.1
5.8
6.0
7.2
6.8
1.3
3.7
5.0
4.6
5.4
1999

2000
-3.7
-4.4
-9.9
0.0
2.8
3.5
5.2
5.0
-0.8
2.0
3.6
3.2
4.2
2000

2001
-5.2 2002
-12.8 -19.9 2003
1.2 4.6 36.6 2004
4.4 7.9 25.1 14.7 2005
5.0 7.7 18.9 11.0 7.4 2006
6.8 9.4 18.2 12.7 11.7 16.2 2007
6.4 8.4 15.2 10.4 9.0 9.8 3.7 2008
-0.5 0.2 4.0 -1.5 -5.2 -9.0 -19.5 -37.5 2009
2.7 3.7 7.6 3.5 1.3 -0.1 -5.0 -9.1 32.2 2010
4.3 5.5 9.1 5.7 4.3 3.7 0.8 -0.2 26.1 20.4 2011
3.9 4.8 8.0 4.9 3.5 2.9 0.4 -0.3 16.4 9.3 -0.8 2012
4.9 5.9 8.9 6.2 5.1 4.8 3.0 2.9 16.6 11.8 7.8 17.1
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

15
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

16

1928
35.5
6.9
-8.7
-21.4
-18.8
-6.9
-5.2
0.1
3.9
-1.4
1.1
0.9
0.4
-0.2
1.1
3.0
4.4
6.4
5.7
5.6
5.3
5.9
7.1
7.5
7.7
7.3
8.8
9.3
9.3
8.4
9.6
9.7
9.4
9.9
9.3
9.6
9.8
10.1
9.6
10.3
10.6
9.8
9.6
9.7
9.7
8.9
8.1
8.8
9.3
9.2
9.3
9.6
10.0
9.9
10.1
10.4
10.3
10.6
10.7
10.5
10.7
10.9
10.5
10.9
10.9
11.0
10.8
11.2
11.3
11.6
11.6
11.7
11.5
11.4
10.9
11.2
11.3
11.3
11.3
11.2
10.4
10.7
10.8
10.6
10.7
1928

1929
-15.7
-25.1
-34.4
-28.5
-13.6
-10.7
-4.1
0.5
-4.8
-1.8
-1.8
-2.1
-2.5
-1.0
1.1
2.7
4.9
4.2
4.2
4.0
4.6
5.9
6.5
6.7
6.3
7.9
8.4
8.4
7.6
8.8
9.0
8.7
9.2
8.6
8.9
9.2
9.5
9.0
9.7
10.0
9.3
9.0
9.2
9.2
8.4
7.5
8.2
8.8
8.7
8.8
9.2
9.6
9.4
9.7
10.0
9.9
10.3
10.3
10.1
10.3
10.6
10.1
10.5
10.6
10.7
10.5
10.8
11.0
11.3
11.2
11.4
11.2
11.1
10.6
10.9
11.0
11.0
11.1
10.9
10.1
10.4
10.5
10.3
10.4
1929

1930
-33.5
-42.2
-32.4
-13.1
-9.7
-2.0
3.0
-3.3
-0.1
-0.2
-0.8
-1.3
0.2
2.5
4.0
6.4
5.6
5.4
5.1
5.8
7.1
7.6
7.8
7.4
9.0
9.5
9.4
8.5
9.8
9.9
9.6
10.1
9.4
9.8
10.0
10.3
9.8
10.5
10.8
10.0
9.7
9.9
9.9
9.0
8.1
8.8
9.4
9.3
9.4
9.7
10.1
10.0
10.2
10.6
10.4
10.8
10.9
10.6
10.8
11.1
10.6
11.0
11.1
11.2
11.0
11.3
11.4
11.7
11.7
11.8
11.7
11.5
11.0
11.4
11.4
11.4
11.5
11.3
10.5
10.7
10.9
10.7
10.8
1930

1931
-49.8
-31.8
-5.0
-2.5
5.9
10.8
1.9
5.1
4.4
3.3
2.3
3.7
5.9
7.4
9.7
8.6
8.3
7.8
8.4
9.7
10.1
10.2
9.6
11.2
11.7
11.5
10.5
11.8
11.8
11.4
11.9
11.1
11.4
11.6
11.9
11.3
12.0
12.3
11.4
11.1
11.2
11.2
10.3
9.3
10.0
10.6
10.5
10.5
10.9
11.3
11.1
11.3
11.6
11.5
11.8
11.9
11.6
11.8
12.0
11.6
11.9
12.0
12.1
11.9
12.2
12.3
12.6
12.5
12.7
12.5
12.3
11.8
12.1
12.2
12.1
12.2
12.1
11.2
11.5
11.6
11.4
11.5
1931

1932
-7.4
30.6
21.6
27.6
29.8
14.7
16.8
14.3
11.9
9.8
10.7
12.7
13.9
16.0
14.4
13.6
12.8
13.1
14.3
14.5
14.4
13.6
15.2
15.4
15.2
13.9
15.1
15.1
14.5
14.9
14.0
14.2
14.3
14.6
13.9
14.5
14.8
13.7
13.4
13.4
13.4
12.4
11.3
12.0
12.6
12.4
12.4
12.7
13.1
12.9
13.1
13.4
13.2
13.5
13.5
13.2
13.4
13.6
13.1
13.4
13.5
13.5
13.3
13.6
13.7
14.0
13.9
14.0
13.8
13.6
13.1
13.4
13.4
13.4
13.4
13.3
12.4
12.6
12.7
12.5
12.6
1932

1933
84.3
39.4
42.0
41.3
19.7
21.4
17.8
14.6
11.9
12.7
14.8
15.9
18.1
16.1
15.2
14.2
14.5
15.6
15.8
15.6
14.7
16.3
16.5
16.2
14.9
16.1
16.0
15.4
15.8
14.8
15.0
15.1
15.3
14.6
15.2
15.4
14.4
14.0
14.0
14.0
12.9
11.8
12.5
13.1
12.9
12.8
13.2
13.5
13.3
13.5
13.8
13.6
13.9
13.9
13.7
13.8
14.0
13.5
13.8
13.9
13.9
13.7
14.0
14.1
14.3
14.3
14.4
14.2
13.9
13.4
13.7
13.8
13.7
13.7
13.6
12.7
12.9
13.0
12.8
12.9
1933

Dimensional US Adjusted
Market 2 Index
1934
5.4
24.6
29.3
7.5
11.7
9.4
7.1
5.2
6.7
9.4
11.1
13.8
12.1
11.4
10.6
11.1
12.5
12.8
12.8
12.0
13.8
14.1
13.9
12.6
14.0
14.0
13.4
13.9
13.0
13.2
13.4
13.6
12.9
13.6
13.9
12.9
12.5
12.6
12.6
11.5
10.4
11.2
11.8
11.6
11.6
12.0
12.4
12.2
12.4
12.7
12.5
12.9
12.9
12.6
12.8
13.0
12.5
12.9
12.9
13.0
12.8
13.1
13.2
13.5
13.4
13.5
13.3
13.1
12.6
12.9
13.0
12.9
13.0
12.8
11.9
12.2
12.3
12.1
12.2
1934

1935
47.2
43.2
8.2
13.3
10.2
7.3
5.1
6.9
9.9
11.7
14.6
12.6
11.9
11.0
11.5
12.9
13.3
13.2
12.4
14.2
14.6
14.3
13.0
14.4
14.3
13.7
14.2
13.2
13.5
13.6
13.9
13.2
13.9
14.2
13.1
12.7
12.8
12.8
11.7
10.6
11.3
11.9
11.8
11.8
12.2
12.5
12.3
12.6
12.9
12.7
13.0
13.1
12.8
13.0
13.2
12.6
13.0
13.1
13.1
12.9
13.2
13.3
13.6
13.6
13.7
13.5
13.2
12.7
13.1
13.1
13.0
13.1
12.9
12.0
12.3
12.4
12.2
12.3
1935

1928–2012: Total Returns (%)
1936
39.3
-7.2
3.8
2.5
0.8
-0.6
2.1
6.0
8.3
11.7
9.9
9.4
8.6
9.3
11.0
11.4
11.5
10.7
12.7
13.1
12.9
11.6
13.1
13.1
12.6
13.1
12.2
12.5
12.6
12.9
12.2
13.0
13.3
12.2
11.8
12.0
11.9
10.9
9.8
10.6
11.2
11.0
11.1
11.5
11.9
11.7
11.9
12.3
12.1
12.4
12.5
12.2
12.4
12.6
12.1
12.5
12.5
12.6
12.4
12.7
12.9
13.1
13.1
13.2
13.0
12.8
12.3
12.6
12.7
12.6
12.7
12.5
11.6
11.9
12.0
11.8
11.9
1936

1937
-38.2
-10.4
-7.5
-7.1
-7.1
-3.0
1.9
4.9
9.0
7.4
7.0
6.4
7.3
9.2
9.8
9.9
9.2
11.4
11.9
11.8
10.4
12.1
12.1
11.6
12.2
11.2
11.6
11.8
12.1
11.4
12.2
12.6
11.5
11.1
11.3
11.3
10.2
9.1
9.9
10.6
10.4
10.5
10.9
11.3
11.1
11.4
11.7
11.6
11.9
12.0
11.7
11.9
12.2
11.7
12.0
12.1
12.2
12.0
12.3
12.5
12.7
12.7
12.8
12.6
12.4
11.9
12.3
12.3
12.3
12.3
12.2
11.2
11.5
11.7
11.5
11.5
1937

GROWTH OF $1
1938
30.0
13.2
6.5
2.9
6.1
10.8
13.2
17.0
14.2
13.0
11.7
12.4
14.1
14.4
14.3
13.2
15.3
15.7
15.3
13.7
15.3
15.2
14.5
15.0
13.9
14.1
14.3
14.5
13.7
14.5
14.8
13.6
13.1
13.2
13.2
12.0
10.8
11.6
12.2
12.0
12.0
12.4
12.8
12.6
12.9
13.2
13.0
13.3
13.4
13.1
13.2
13.4
12.9
13.3
13.3
13.4
13.1
13.5
13.6
13.9
13.8
13.9
13.7
13.5
12.9
13.3
13.3
13.2
13.3
13.1
12.2
12.4
12.6
12.3
12.4
1938

$100,000
1939
-1.4
-3.6
-4.8
0.9
7.3
10.6
15.3
12.3
11.3
10.1
10.9
12.8
13.3
13.2
12.1
14.5
14.9
14.5
12.9
14.6
14.5
13.8
14.4
13.2
13.5
13.7
14.0
13.2
14.0
14.3
13.1
12.6
12.7
12.7
11.5
10.3
11.1
11.8
11.6
11.6
12.0
12.5
12.2
12.5
12.8
12.6
13.0
13.0
12.7
12.9
13.1
12.6
13.0
13.0
13.1
12.9
13.2
13.4
13.6
13.6
13.7
13.5
13.2
12.7
13.0
13.1
13.0
13.1
12.9
11.9
12.2
12.3
12.1
12.2
1939

1940
-5.8
-6.5
1.7
9.6
13.2
18.3
14.4
13.0
11.4
12.2
14.2
14.6
14.4
13.2
15.6
16.0
15.5
13.7
15.5
15.4
14.6
15.2
13.9
14.2
14.4
14.6
13.7
14.6
14.9
13.6
13.1
13.2
13.1
11.9
10.6
11.5
12.2
12.0
12.0
12.4
12.8
12.6
12.8
13.2
13.0
13.3
13.4
13.1
13.2
13.5
12.9
13.3
13.3
13.4
13.1
13.5
13.6
13.9
13.9
14.0
13.7
13.5
12.9
13.3
13.3
13.3
13.3
13.1
12.1
12.4
12.5
12.3
12.4
1940

$5,659

$10,000
1941
-7.2
5.6
15.2
18.5
23.9
18.2
15.9
13.8
14.4
16.4
16.6
16.3
14.8
17.3
17.6
17.0
15.0
16.8
16.6
15.7
16.3
14.9
15.2
15.3
15.6
14.6
15.4
15.7
14.3
13.8
13.9
13.8
12.5
11.2
12.0
12.7
12.5
12.5
12.9
13.3
13.1
13.3
13.7
13.4
13.8
13.8
13.5
13.7
13.9
13.3
13.7
13.7
13.8
13.5
13.9
14.0
14.3
14.2
14.3
14.1
13.8
13.2
13.6
13.7
13.6
13.6
13.4
12.4
12.7
12.8
12.6
12.7
1941

1942
20.2
28.4
28.6
33.1
24.0
20.3
17.1
17.4
19.4
19.3
18.7
16.8
19.4
19.6
18.9
16.6
18.4
18.1
17.1
17.6
16.1
16.3
16.4
16.6
15.5
16.4
16.6
15.2
14.6
14.7
14.5
13.2
11.8
12.7
13.3
13.1
13.1
13.5
13.9
13.6
13.9
14.2
14.0
14.3
14.3
14.0
14.2
14.4
13.8
14.2
14.2
14.2
14.0
14.3
14.4
14.7
14.6
14.7
14.5
14.2
13.6
14.0
14.0
13.9
14.0
13.8
12.8
13.0
13.1
12.9
13.0
1942

$1,000
1943
37.0
32.9
37.7
25.0
20.3
16.6
17.0
19.3
19.2
18.5
16.5
19.4
19.6
18.8
16.3
18.3
18.0
16.9
17.5
15.9
16.1
16.2
16.5
15.3
16.2
16.5
15.0
14.4
14.5
14.4
13.0
11.5
12.4
13.1
12.9
12.9
13.3
13.8
13.5
13.7
14.1
13.8
14.2
14.2
13.9
14.0
14.3
13.6
14.0
14.1
14.1
13.8
14.2
14.3
14.6
14.5
14.6
14.4
14.1
13.5
13.9
13.9
13.8
13.9
13.7
12.6
12.9
13.0
12.8
12.9
1943

1944
28.9
38.1
21.2
16.5
12.9
14.0
17.0
17.2
16.6
14.6
17.9
18.2
17.5
15.0
17.1
16.9
15.8
16.5
14.9
15.2
15.3
15.6
14.5
15.4
15.7
14.2
13.7
13.7
13.7
12.2
10.8
11.7
12.5
12.3
12.3
12.7
13.2
12.9
13.2
13.6
13.3
13.7
13.7
13.4
13.6
13.8
13.2
13.6
13.7
13.7
13.4
13.8
13.9
14.2
14.2
14.3
14.0
13.8
13.1
13.5
13.6
13.5
13.6
13.4
12.3
12.6
12.7
12.5
12.6
1944

$100
1945
47.9
17.6
12.6
9.3
11.2
15.1
15.6
15.2
13.1
16.8
17.3
16.6
14.0
16.3
16.1
15.0
15.8
14.1
14.5
14.6
15.0
13.9
14.9
15.2
13.7
13.1
13.2
13.1
11.7
10.2
11.2
12.0
11.8
11.8
12.3
12.8
12.5
12.8
13.2
12.9
13.4
13.4
13.0
13.2
13.5
12.9
13.3
13.4
13.4
13.1
13.5
13.7
14.0
13.9
14.0
13.8
13.5
12.9
13.3
13.3
13.3
13.3
13.1
12.1
12.4
12.5
12.3
12.3
1945

1946
-6.5
-1.8
-1.2
3.5
9.5
10.9
11.1
9.4
13.8
14.6
14.1
11.5
14.2
14.1
13.1
14.0
12.4
12.9
13.1
13.6
12.5
13.5
14.0
12.4
11.9
12.1
12.0
10.6
9.1
10.2
11.0
10.8
10.9
11.4
11.9
11.6
12.0
12.4
12.2
12.6
12.7
12.3
12.5
12.8
12.2
12.6
12.7
12.8
12.5
12.9
13.1
13.4
13.4
13.5
13.2
13.0
12.3
12.8
12.8
12.8
12.8
12.6
11.6
11.9
12.0
11.8
11.9
1946

$10
1947
3.2
1.5
7.1
13.9
14.8
14.4
11.9
16.6
17.2
16.3
13.3
16.1
15.9
14.7
15.5
13.7
14.1
14.3
14.7
13.5
14.6
15.0
13.3
12.7
12.9
12.8
11.3
9.7
10.8
11.7
11.4
11.4
12.0
12.5
12.2
12.5
13.0
12.7
13.1
13.2
12.8
13.0
13.3
12.7
13.1
13.2
13.3
13.0
13.4
13.5
13.8
13.8
13.9
13.7
13.4
12.7
13.2
13.2
13.1
13.2
13.0
11.9
12.2
12.3
12.1
12.2
1947

1948
-0.2
9.1
17.6
17.9
16.8
13.4
18.7
19.1
17.9
14.4
17.4
17.0
15.6
16.5
14.4
14.8
15.0
15.4
14.1
15.2
15.6
13.8
13.2
13.3
13.2
11.6
10.0
11.1
12.0
11.7
11.7
12.3
12.8
12.5
12.8
13.2
13.0
13.4
13.4
13.1
13.3
13.6
12.9
13.4
13.4
13.5
13.2
13.6
13.7
14.1
14.0
14.1
13.9
13.6
12.9
13.3
13.4
13.3
13.4
13.2
12.0
12.3
12.5
12.2
12.3
1948

$1
1949
19.2
27.7
24.6
21.4
16.4
22.1
22.1
20.4
16.1
19.3
18.7
17.0
17.8
15.6
15.9
16.0
16.4
14.9
16.1
16.4
14.5
13.8
13.9
13.8
12.1
10.4
11.5
12.4
12.1
12.1
12.7
13.2
12.9
13.2
13.7
13.4
13.8
13.8
13.4
13.7
13.9
13.2
13.7
13.7
13.8
13.5
13.9
14.1
14.4
14.3
14.4
14.1
13.9
13.2
13.6
13.6
13.5
13.6
13.4
12.3
12.6
12.7
12.5
12.5
1949

1950
36.7
27.3
22.2
15.6
22.7
22.6
20.5
15.7
19.3
18.7
16.8
17.7
15.3
15.7
15.8
16.2
14.7
15.9
16.3
14.3
13.6
13.7
13.6
11.8
10.0
11.2
12.2
11.9
11.9
12.5
13.0
12.7
13.0
13.5
13.2
13.7
13.7
13.3
13.5
13.8
13.1
13.6
13.6
13.7
13.4
13.8
13.9
14.3
14.2
14.3
14.0
13.8
13.0
13.5
13.5
13.4
13.5
13.3
12.1
12.5
12.6
12.3
12.4
1950

1951
18.6
15.5
9.4
19.5
20.0
18.0
13.0
17.3
16.8
15.0
16.1
13.7
14.2
14.5
15.0
13.4
14.8
15.3
13.2
12.5
12.7
12.6
10.8
9.0
10.3
11.3
11.1
11.1
11.7
12.3
12.0
12.4
12.9
12.6
13.1
13.1
12.7
13.0
13.2
12.5
13.0
13.1
13.2
12.9
13.3
13.5
13.8
13.8
13.9
13.6
13.3
12.6
13.1
13.2
13.1
13.1
12.9
11.8
12.1
12.2
12.0
12.1
1951

$0
1928
1952
12.5
5.0
19.8
20.3
17.9
12.1
17.1
16.6
14.6
15.9
13.2
13.8
14.1
14.7
13.1
14.5
15.1
12.9
12.2
12.4
12.3
10.5
8.6
10.0
11.0
10.8
10.8
11.5
12.1
11.8
12.2
12.7
12.4
12.9
13.0
12.6
12.8
13.1
12.4
12.9
13.0
13.1
12.7
13.2
13.4
13.7
13.7
13.8
13.5
13.2
12.5
13.0
13.1
13.0
13.0
12.8
11.6
12.0
12.1
11.9
12.0
1952

D I M E N S I O N A L F U N D A D VI S O R S

1953
-1.9
23.6
23.0
19.3
12.0
17.9
17.2
14.9
16.3
13.3
14.0
14.3
14.9
13.1
14.7
15.2
13.0
12.2
12.4
12.3
10.4
8.5
9.9
11.0
10.7
10.8
11.4
12.1
11.8
12.2
12.7
12.4
12.9
13.0
12.6
12.8
13.1
12.4
12.9
13.0
13.1
12.8
13.2
13.4
13.8
13.7
13.8
13.6
13.3
12.5
13.0
13.1
13.0
13.1
12.8
11.6
12.0
12.1
11.9
12.0
1953

2012
Index data compiled by Dimensional.

1954
55.8
37.8
27.4
15.8
22.3
20.7
17.5
18.8
15.1
15.7
15.9
16.4
14.4
16.0
16.5
14.0
13.1
13.3
13.1
11.0
9.0
10.5
11.6
11.3
11.3
12.0
12.7
12.3
12.7
13.2
12.9
13.4
13.5
13.0
13.3
13.6
12.8
13.3
13.4
13.5
13.1
13.6
13.8
14.1
14.1
14.2
13.9
13.6
12.8
13.3
13.4
13.3
13.4
13.1
11.9
12.2
12.4
12.1
12.2
1954

1955
21.9
15.2
4.9
15.1
14.7
12.1
14.3
10.9
11.9
12.5
13.4
11.5
13.4
14.1
11.6
10.8
11.1
11.1
9.1
7.1
8.7
9.9
9.7
9.8
10.5
11.3
10.9
11.4
12.0
11.7
12.3
12.3
11.9
12.2
12.6
11.8
12.4
12.5
12.6
12.2
12.7
12.9
13.3
13.3
13.4
13.1
12.8
12.1
12.6
12.7
12.6
12.7
12.4
11.2
11.6
11.7
11.5
11.6
1955

1956
8.9
-2.7
12.9
13.0
10.3
13.0
9.4
10.7
11.5
12.6
10.6
12.7
13.5
10.9
10.1
10.5
10.5
8.4
6.3
8.0
9.4
9.1
9.3
10.1
10.9
10.5
11.0
11.6
11.3
11.9
12.0
11.6
11.9
12.3
11.5
12.1
12.2
12.3
12.0
12.5
12.7
13.1
13.1
13.2
13.0
12.6
11.9
12.4
12.5
12.4
12.5
12.3
11.0
11.4
11.6
11.3
11.4
1956

1957
-13.0
15.0
14.4
10.6
13.9
9.4
11.0
11.8
13.0
10.7
13.0
13.9
11.1
10.2
10.6
10.6
8.4
6.2
8.0
9.4
9.1
9.3
10.1
10.9
10.6
11.1
11.7
11.4
12.1
12.1
11.7
12.0
12.4
11.6
12.2
12.3
12.4
12.1
12.6
12.8
13.2
13.2
13.3
13.0
12.7
11.9
12.5
12.6
12.5
12.6
12.3
11.1
11.4
11.6
11.3
11.5
1957

1958
52.1
31.2
19.8
21.8
14.6
15.6
15.9
16.7
13.7
16.0
16.7
13.4
12.3
12.5
12.4
9.9
7.4
9.3
10.7
10.4
10.5
11.3
12.1
11.7
12.2
12.8
12.4
13.1
13.1
12.7
13.0
13.3
12.4
13.1
13.1
13.2
12.9
13.4
13.6
14.0
13.9
14.0
13.7
13.4
12.6
13.1
13.2
13.1
13.2
12.9
11.6
12.0
12.1
11.9
12.0
1958

1959
13.2
6.4
13.1
6.8
9.4
10.8
12.4
9.7
12.6
13.7
10.4
9.4
10.0
10.0
7.5
5.1
7.2
8.8
8.5
8.7
9.7
10.6
10.2
10.8
11.5
11.1
11.8
11.9
11.5
11.8
12.2
11.4
12.0
12.2
12.3
11.9
12.5
12.7
13.1
13.1
13.3
13.0
12.6
11.8
12.4
12.5
12.4
12.5
12.2
10.9
11.3
11.5
11.2
11.3
1959

1960
0.0
13.1
4.7
8.5
10.3
12.3
9.2
12.5
13.7
10.1
9.1
9.7
9.8
7.1
4.6
6.8
8.5
8.3
8.5
9.5
10.4
10.1
10.7
11.4
11.1
11.8
11.9
11.4
11.8
12.2
11.3
12.0
12.1
12.3
11.9
12.5
12.7
13.1
13.1
13.3
13.0
12.6
11.8
12.4
12.4
12.3
12.4
12.2
10.8
11.2
11.4
11.2
11.3
1960

1961
28.0
7.1
11.5
13.1
14.9
10.8
14.4
15.6
11.3
10.1
10.6
10.7
7.7
4.9
7.3
9.1
8.8
9.0
10.0
11.0
10.6
11.2
11.9
11.6
12.3
12.4
11.9
12.2
12.6
11.7
12.4
12.5
12.7
12.3
12.8
13.1
13.5
13.4
13.6
13.3
12.9
12.1
12.7
12.7
12.6
12.7
12.5
11.1
11.5
11.7
11.4
11.5
1961

1962
-10.3
4.1
8.5
11.8
7.7
12.3
13.9
9.3
8.2
9.0
9.2
6.2
3.4
6.0
7.9
7.7
8.0
9.1
10.2
9.8
10.4
11.2
10.9
11.7
11.8
11.3
11.7
12.1
11.2
11.9
12.1
12.2
11.8
12.4
12.7
13.1
13.1
13.3
12.9
12.6
11.7
12.3
12.4
12.3
12.4
12.2
10.8
11.2
11.4
11.1
11.2
1962

1963
20.8
19.4
20.4
12.7
17.5
18.5
12.5
10.8
11.4
11.4
7.8
4.6
7.3
9.3
9.0
9.2
10.4
11.4
11.0
11.6
12.4
12.0
12.7
12.8
12.3
12.6
13.1
12.1
12.8
12.9
13.0
12.6
13.2
13.4
13.9
13.8
14.0
13.6
13.2
12.3
12.9
13.0
12.9
13.0
12.7
11.3
11.7
11.9
11.6
11.7
1963

1964
17.9
20.1
10.1
16.7
18.1
11.2
9.5
10.3
10.4
6.6
3.2
6.3
8.5
8.2
8.5
9.7
10.9
10.4
11.1
12.0
11.6
12.4
12.5
11.9
12.3
12.8
11.7
12.5
12.6
12.8
12.3
13.0
13.2
13.7
13.6
13.8
13.4
13.1
12.1
12.7
12.8
12.7
12.8
12.5
11.1
11.5
11.7
11.4
11.5
1964

1965
22.4
6.4
16.2
18.1
9.9
8.1
9.2
9.5
5.4
1.9
5.3
7.8
7.5
7.9
9.2
10.5
10.0
10.8
11.7
11.2
12.1
12.3
11.7
12.1
12.6
11.5
12.3
12.4
12.6
12.1
12.8
13.1
13.6
13.5
13.7
13.3
12.9
12.0
12.6
12.7
12.6
12.7
12.4
10.9
11.3
11.6
11.3
11.4
1965

1966
-7.5
13.3
16.8
6.9
5.5
7.2
7.7
3.4
-0.2
3.7
6.5
6.4
6.8
8.3
9.7
9.3
10.1
11.1
10.7
11.6
11.8
11.2
11.7
12.2
11.1
12.0
12.1
12.3
11.8
12.5
12.8
13.3
13.2
13.4
13.1
12.7
11.7
12.4
12.5
12.4
12.5
12.2
10.7
11.1
11.3
11.0
11.2
1966

1967
38.8
31.2
12.2
9.0
10.4
10.5
5.1
0.8
5.0
8.0
7.7
8.1
9.7
11.1
10.5
11.3
12.3
11.8
12.8
12.9
12.2
12.6
13.1
11.9
12.8
12.9
13.1
12.6
13.3
13.5
14.1
13.9
14.1
13.7
13.3
12.3
13.0
13.0
12.9
13.0
12.7
11.1
11.6
11.8
11.5
11.6
1967

1968
24.0
0.9
0.5
4.2
5.6
0.3
-3.8
1.4
5.1
5.0
5.7
7.5
9.2
8.7
9.7
10.9
10.4
11.5
11.6
11.0
11.5
12.1
10.9
11.8
12.0
12.2
11.7
12.5
12.7
13.3
13.2
13.4
13.1
12.6
11.6
12.3
12.4
12.3
12.4
12.1
10.5
11.0
11.2
10.9
11.1
1968

1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012

1969
-17.9
-9.5
-1.6
1.4
-3.8
-7.7
-1.4
2.9
3.1
4.0
6.1
8.0
7.6
8.7
10.0
9.6
10.8
11.0
10.4
10.9
11.5
10.3
11.3
11.5
11.7
11.2
12.1
12.4
13.0
12.9
13.1
12.7
12.3
11.3
12.0
12.1
12.0
12.1
11.9
10.2
10.7
11.0
10.6
10.8
1969

1970
-0.2
7.7
8.8
0.1
-5.6
1.6
6.3
6.1
6.8
8.9
10.8
10.1
11.1
12.3
11.7
12.9
13.0
12.2
12.7
13.3
11.9
12.9
13.0
13.2
12.6
13.4
13.7
14.3
14.1
14.3
13.9
13.4
12.3
13.0
13.1
13.0
13.1
12.8
11.0
11.5
11.8
11.4
11.6
1970

1971
16.2
13.7
0.2
-6.8
2.0
7.4
7.0
7.7
10.0
11.9
11.1
12.1
13.4
12.6
13.8
13.9
13.0
13.5
14.0
12.5
13.6
13.7
13.8
13.2
14.0
14.3
14.8
14.7
14.9
14.4
13.9
12.7
13.5
13.5
13.4
13.5
13.1
11.4
11.9
12.1
11.7
11.9
1971

1972
11.2
-7.0
-13.5
-1.3
5.7
5.6
6.5
9.2
11.5
10.6
11.8
13.1
12.4
13.6
13.7
12.8
13.3
13.9
12.4
13.4
13.5
13.7
13.0
13.9
14.2
14.8
14.6
14.8
14.3
13.8
12.6
13.4
13.5
13.3
13.4
13.1
11.2
11.7
12.0
11.6
11.8
1972

1973
-22.2
-23.7
-5.1
4.4
4.5
5.7
8.9
11.5
10.5
11.8
13.3
12.5
13.8
13.9
12.9
13.4
14.1
12.4
13.5
13.7
13.8
13.1
14.0
14.3
14.9
14.7
15.0
14.4
13.9
12.6
13.4
13.5
13.4
13.5
13.1
11.2
11.8
12.0
11.6
11.8
1973

1974
-25.1
4.8
15.2
12.5
12.4
15.2
17.4
15.4
16.4
17.7
16.3
17.5
17.3
15.9
16.3
16.8
14.9
16.0
16.0
16.0
15.2
16.0
16.2
16.8
16.5
16.7
16.1
15.5
14.1
14.9
14.9
14.7
14.8
14.4
12.4
12.9
13.1
12.7
12.8
1974

1975
46.6
42.8
28.8
24.4
25.6
26.5
22.8
23.0
23.7
21.5
22.4
21.7
19.9
20.0
20.3
18.0
19.0
18.8
18.7
17.7
18.4
18.6
19.1
18.7
18.8
18.1
17.3
15.8
16.6
16.6
16.3
16.3
15.8
13.7
14.2
14.4
13.9
14.0
1975

1976
39.1
20.7
17.8
20.8
22.8
19.2
19.9
21.1
19.0
20.2
19.7
17.9
18.2
18.6
16.3
17.4
17.3
17.3
16.3
17.2
17.4
18.0
17.6
17.7
17.0
16.3
14.8
15.6
15.7
15.4
15.5
15.0
12.8
13.4
13.6
13.2
13.3
1976

1977
4.7
8.4
15.2
19.1
15.6
17.0
18.7
16.7
18.3
17.9
16.1
16.6
17.2
14.8
16.1
16.1
16.1
15.2
16.1
16.4
17.0
16.7
16.9
16.2
15.5
14.0
14.8
14.9
14.6
14.7
14.3
12.1
12.7
12.9
12.5
12.6
1977

1978
12.2
20.9
24.3
18.5
19.7
21.3
18.5
20.1
19.5
17.3
17.8
18.3
15.6
17.0
16.9
16.9
15.8
16.8
17.0
17.7
17.3
17.5
16.7
16.0
14.3
15.2
15.3
15.0
15.1
14.6
12.4
12.9
13.2
12.7
12.9
1978

1979
30.3
30.8
20.6
21.6
23.2
19.6
21.2
20.4
17.9
18.3
18.9
15.9
17.3
17.2
17.2
16.0
17.1
17.3
18.0
17.6
17.7
16.9
16.1
14.4
15.4
15.4
15.1
15.2
14.7
12.4
13.0
13.2
12.7
12.9
1979

1980
31.3
16.1
18.8
21.4
17.6
19.8
19.0
16.4
17.1
17.8
14.7
16.3
16.3
16.3
15.1
16.3
16.6
17.3
17.0
17.1
16.3
15.5
13.8
14.8
14.8
14.6
14.7
14.2
11.8
12.4
12.7
12.2
12.4
1980

1981
2.7
13.0
18.3
14.4
17.6
17.1
14.5
15.4
16.4
13.2
15.1
15.1
15.3
14.1
15.4
15.7
16.6
16.2
16.4
15.6
14.8
13.1
14.1
14.2
14.0
14.1
13.6
11.2
11.8
12.2
11.7
11.9
1981

1982
24.4
27.0
18.6
21.7
20.2
16.5
17.3
18.2
14.4
16.4
16.3
16.4
15.0
16.3
16.6
17.5
17.1
17.3
16.4
15.5
13.6
14.7
14.7
14.4
14.6
14.0
11.5
12.2
12.5
12.0
12.2
1982

1983
29.7
15.7
20.8
19.2
15.0
16.2
17.4
13.2
15.5
15.5
15.7
14.2
15.7
16.1
17.0
16.6
16.8
15.9
15.0
13.1
14.2
14.3
14.0
14.2
13.6
11.0
11.7
12.1
11.6
11.8
1983

1984
3.3
16.5
15.9
11.6
13.7
15.4
11.0
13.8
14.1
14.3
12.9
14.6
15.1
16.2
15.8
16.1
15.2
14.3
12.2
13.5
13.6
13.4
13.5
13.0
10.3
11.1
11.5
11.0
11.2
1984

1985
31.5
22.8
14.6
16.5
18.0
12.4
15.4
15.5
15.6
14.0
15.7
16.2
17.2
16.8
17.0
16.0
14.9
12.8
14.1
14.2
13.9
14.0
13.5
10.6
11.4
11.8
11.3
11.5
1985

1986
14.7
6.9
11.8
14.9
8.9
13.0
13.4
13.8
12.2
14.3
14.9
16.1
15.7
16.0
15.0
14.0
11.8
13.2
13.3
13.1
13.3
12.7
9.8
10.7
11.1
10.6
10.8
1986

1987
-0.3
10.4
14.9
7.5
12.6
13.2
13.7
11.8
14.2
14.9
16.3
15.8
16.1
15.0
13.9
11.6
13.1
13.3
13.0
13.2
12.6
9.6
10.5
10.9
10.4
10.7
1987

1988
22.3
23.4
10.2
16.1
16.1
16.2
13.7
16.2
16.7
18.1
17.4
17.6
16.3
15.0
12.4
14.0
14.1
13.8
14.0
13.3
10.1
11.0
11.5
10.9
11.1
1988

1989
24.5
4.6
14.1
14.6
15.0
12.3
15.3
16.0
17.6
16.9
17.2
15.8
14.5
11.7
13.4
13.6
13.3
13.5
12.8
9.5
10.5
11.0
10.4
10.7
1989

1990
-12.1
9.2
11.4
12.7
10.0
13.8
14.9
16.8
16.1
16.5
15.0
13.7
10.8
12.7
12.9
12.6
12.9
12.2
8.8
9.8
10.4
9.8
10.1
1990

1991
35.7
25.4
22.5
16.4
19.9
20.1
21.6
20.2
20.2
18.2
16.4
13.0
14.9
15.0
14.5
14.7
13.8
10.0
11.1
11.6
11.0
11.3
1991

1992
15.9
16.3
10.6
16.2
17.2
19.4
18.1
18.4
16.4
14.6
11.1
13.3
13.5
13.1
13.4
12.6
8.7
9.9
10.5
9.8
10.2
1992

1993
16.8
8.0
16.3
17.5
20.1
18.4
18.7
16.4
14.4
10.6
13.0
13.3
12.9
13.2
12.4
8.3
9.6
10.2
9.5
9.9
1993

MATR IX BOOK 2013

1994
-0.2
16.1
17.8
20.9
18.8
19.0
16.4
14.1
10.0
12.7
13.0
12.6
12.9
12.1
7.7
9.1
9.8
9.1
9.6
1994

1995
35.0
28.0
28.9
24.1
23.3
19.4
16.3
11.3
14.2
14.4
13.8
14.1
13.1
8.3
9.8
10.5
9.7
10.2
1995

1996
21.3
26.0
20.6
20.6
16.5
13.5
8.3
11.8
12.3
11.9
12.4
11.4
6.5
8.2
9.0
8.3
8.8
1996

1997
30.8
20.3
20.3
15.3
12.0
6.2
10.5
11.2
10.9
11.5
10.6
5.3
7.2
8.2
7.5
8.1
1997

1998
10.6
15.4
10.5
7.7
1.9
7.5
8.7
8.6
9.6
8.7
3.3
5.5
6.6
6.0
6.7
1998

1999
20.4 2000
10.5 1.5 2001
6.8 0.6 -0.2 2002
-0.2 -6.2 -9.8 -18.4 2003
6.9 3.7 4.5 6.9 40.2 2004
8.4 6.1 7.3 10.0 27.7 16.3 2005
8.3 6.4 7.4 9.5 20.7 12.0 7.9 2006
9.4 7.9 9.1 11.0 19.9 13.9 12.6 17.5 2007
8.5 7.1 7.9 9.4 16.0 10.6 8.8 9.2 1.4 2008
2.6 0.8 0.7 0.8 4.4 -1.5 -5.6 -9.7 -20.8 -38.2 2009
5.0 3.6 3.8 4.3 8.1 3.5 1.1 -0.6 -5.9 -9.4 32.7 2010
6.3 5.1 5.5 6.1 9.7 5.9 4.3 3.6 0.3 0.0 27.2 21.8 2011
5.6 4.5 4.8 5.3 8.3 4.9 3.4 2.6 -0.1 -0.5 16.6 9.2 -2.1 2012
6.5 5.5 5.8 6.4 9.2 6.3 5.1 4.7 2.7 2.9 16.9 12.1 7.5 17.9
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

17
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy
Dfa matrix book us_2013 - copy

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Dfa matrix book us_2013 - copy

  • 1. Matri x Book 2 013 Historical Return Data—US Dollars
  • 2. Matr i x Book 2 013 on the cover Decades of financial research underlie our views on the capital markets and form the basis for how we invest. As research progresses, Dimensional continues to evolve—offering new dimensions to investors. Historical Return Data—US Dollars
  • 3. THE EVOLUTION OF DIMENSIONAL Dimensional evolves as the science of investing are based on four dimensions of expected returns we disregarded it. As it turns out, there hasn’t January effect. In response to that concern, The Fama/French research led us to create our evolves, which explains why we keep such close that have been identified by academic research: been a January effect since we began managing Fama and French did two out-of-sample tests. value strategies, which increase the exposure the overall market (beta), company size (small small cap strategies. This is what happens to First, working with Jim Davis, they collected and to low priced stocks relative to their weight in cap/large cap), relative price (high/low), and most anomalies—they disappear when the analyzed the data in the US from 1926 to 1962. benchmarks used by our clients. Recent research direct profitability (high/low). data set is expanded. Second, they studied the performance of stocks on profitability by Robert Novy-Marx has connection to the academic community. Many, if not most, of the major advances in portfolio management over the last 60 years have come average returns across portfolios and individual identified another measure that appears to Beginning in the mid-1960s, asset pricing models from academic research. have been developed to explain differences in securities. Testing any model eventually produces anomalies, because no model can perfectly describe reality. But eventually, most anomalies We believe that the best way to add value over benchmark returns is by structuring portfolios associated with conventional management, drives the performance of portfolios. model that revealed them. replicated his work, and, once again, we find the results persistent and pervasive around the world. Evaluating the research confidence when patterns are persistent across the pre-1963 data and the non-US data were Using valuation models Our evolution parallels the evolution of research. time periods and pervasive across markets. consistent with the patterns they had observed The finding that firms with high direct The multifactor research of Eugene Fama and in the US returns from 1963 to 1990. More profitability have higher stock returns is not Ken French is a good example. When Fama recent returns continue to support their earlier surprising to most people. But to some, a higher and French first presented their research on conclusions. As a result, we are confident that expected return must mean greater risk. the dimensions of equity returns in 1991, their the size and value factors are, in fact, dimensions evidence was based on US stocks from 1963 of expected returns. In 1981, when we started our firm offering to figure out what structure works best for average returns than could be explained by the them. Often, this involves trading off increased single-factor market model used at the time. expected returns against costs and tracking error. Nevertheless, we felt comfortable launching a small cap fund, because the size effect was so view of investing. These characteristics give than low profitability firms. Our research team has world. They found the return patterns in both was an anomaly. Small cap stocks had higher pervasive, and is consistent with an equilibrium profitability firms have higher average returns in developed and emerging markets around the investment dimensions. We work with clients explains differences in returns, is persistent and is consistent with an equilibrium view of investing. margin as the gauge of profitability, high patterns in returns. As a result, we have more small cap investment strategies, the “size effect” We consider a dimension to be a factor that differences in returns, is persistent and pervasive, and returns. Using a measure of gross operating Data mining is a big concern when we look for Clients vary in their preferences toward these Identifying dimensions of expected returns We consider a dimension to be a factor that explains disappear, get explained away, or sink the pricing around the dimensions of expected returns. Portfolio structure, rather than the tactical shifts meet our standards for a dimension of expected A parallel may be drawn between direct to 1990. Some people wondered if their results profitability and term premiums for fixed income might be due to data mining, similar to the obligations. It is well known that buying 1-month persistent and pervasive. We didn’t have a good explanation for the higher returns, but it seemed reasonable that the smaller the firm, the higher its costs of capital; and the return to an investor Dimensional’s Rich History is the company’s cost of capital. Key breakthroughs in finding and pursuing dimensions of equity returns Not long after we started Dimensional, Don Keim discovered another anomaly, “the January effect.” Relative Price Fama/French research identifies market, size, and value factors as the principal drivers of equity returns. Total Market Solutions Advancement in portfolio design provides value-added, efficient total market solutions that focus on dimensions of higher expected returns. Direct Profitability Research identifies a robust proxy for a new investable dimension of higher expected return—expected profitability. observed in the past to repeat in the future. His research showed that most of the size effect Our fixed income portfolios are structured occurred in January. We could see no sensible Company Size Dimensional offers investors diversified, cost-efficient access to small companies. equilibrium explanation for a January effect, so 1981 1992 2004 2012 Small Cap Strategies Value Strategies Applied Core Equity Strategies Opens the door to new strategies and potential enhancements to existing strategies us confidence that we can expect the relations around two generally accepted dimensions of fixed income expected returns: term (maturity) and credit spread (quality). Our equity portfolios
  • 4. priced stocks have higher returns than high In our view, the size effect went from being Higher expected returns are the result of having more likely to underperform in the next period; priced stocks because of market mispricing. an anomaly to a dimension of returns in the either higher expected cash flows or a lower price. stocks that have outperformed have a tendency to Interestingly, they use much of the same data Fama/French three-factor model, even though slightly more risky, than 1-month bills. The higher The direct profitability dimension is tied to the continue to outperform. If the momentum effect to support their view that we use to support ours. there is still no robust explanation of why it return for the 3-month maturities is not due to Market that have underperformed in a past period are investors, 3-month bills are less risky, or only Single-Factor Model, 1963 equities—relative price and direct profitability. than buying 3-month Treasuries. For some Advancements in Research numerator and the relative price dimension to were large enough to trade on profitably, then it Clients who want to hire a money manager to exists. Their research also identified the value the denominator. Stated another way, if two would be evidence of market mispricing. capture mispricings have a difficult challenge: effect as a dimension and led to the creation First, they have to be able to identify successful of our value funds. Treasuries produces a lower return, on average, mispricing; it is just the result of market forces. stocks sell at the same price, then the one with Similarly, it is perfectly reasonable that equity higher expected cash flows must have a higher We believe that momentum is a factor affecting markets have dimensions of returns that may expected return. returns, but it is too small and sporadic to actively induce trading. Momentum is stronger be particularly attractive to some investors and not others. Our confidence that we have correctly direct profitability, can be combined to improve which is consistent with our view that it is best it to a basic valuation model, such as the portfolio structure. For example, the explanatory power of direct profitability is fairly weak. rule. Momentum is also quite variable; in 2009, However, when conditioned on the relative it was sharply negative for US stocks. Large Price = Small The best way to add value is to structure portfolios considered a trading cost rather than a trading equation below. Size in small cap stocks than in large cap stocks, identified a dimension goes up if we can connect Size Effect, 1981 These two dimensions, relative price and Expected Cash Flows Discount Rate However, by trading carefully, it is possible managers in advance, and second, they have to The latest research has identified profitability hope that any such managers don’t raise their fees price dimension, the explanatory power becomes much stronger. along the dimensions of expected returns. as a dimension of expected returns, with highly to keep the bulk of any alpha for themselves. profitable firms having higher average returns to use momentum to increase returns. For than can be explained by the three-factor model. The value of a stock or bond is the sum of future example, momentum has explained most of We believe that our philosophy provides a So the evolution of financial science continues. cash flows discounted back to present value. contradictory. They both are structured around the outperformance of our small cap strategies better investment experience. Our approach We are very excited about this new research and For example, the price of a bond is determined Value Effect, 1991 Our growth and value strategies are not the same dimensions of size, relative price, and relative to small cap indices. is transparent and easy to explain because it will incorporate it into the investment policies relies on basic valuation methods and extensive of many of our existing portfolios. We also empirical research, and it is validated by a long have developed new portfolios based on this track record of implementation. research—the first of these were two US growth by the stream of coupon payments and principal relative prices. In our view, value and growth Contrast with conventional management a low-yield bond. are not opposite ends of one dimension, but Dimensional’s investment philosophy is centered two different dimensions. Low and the other focuses on stocks selling at low higher coupon or sell at a lower price than Small focuses on stocks selling at high relative prices, rates. A high-yield bond must either have a Large direct profitability. The difference is that one repayment, discounted back at various interest Size on an equilibrium, or efficient market, view of Looking forward public markets. In this view, the best way to Dimensional will continue to evolve as research add value over conventional benchmarks is to on the dimensions of returns progresses. When structure portfolios along the dimensions of we started the firm in 1981, academic research Generally, the greater the risk of an investment, High Relative Price the higher the discount rate and lower the price. strategies and two international growth strategies. The discount rate is the investment’s expected return. Reworking the equation above to solve Direct Profitability, 2012 Size Large High Momentum is an example of a factor that does expected returns. For equity portfolios, expected used the single-factor market model to explain for expected return gives us: not meet our criteria as a dimension of returns returns are increased by giving greater weight average returns. The size effect was viewed as but still impacts portfolio returns. to small cap, low relative price, and high direct an anomaly because small cap returns were too profitability firms. great to be explained by beta. Nevertheless, we Low Small High High Small Relative Price Low Large Low Direct Profitability Momentum Expected = Returns Expected Cash Flows Price sponsored a small cap fund because the size Research suggests that there is momentum in stock A competing philosophy dominates conventional effect was persistent and pervasive, and because Expressing the relation this way highlights money management. In that view, value can it gave institutional investors a tool to efficiently two of the dimensions of expected returns for be added through tactical shifts. For example, diversify beyond large cap stocks. prices in most markets around the world. Stocks behavioral finance proponents argue that low David Booth Co-Chief Executive Officer, Dimensional Fund Advisors
  • 5. TABLE OF CONTENTS THE EVOLUTION OF DIMENSIONAL Annualized Rates of Returns (%) How to Use This Book 2 8 9 Total Returns S&P 500 INDEX Fama/French Total US Market Index Dimensional US Adjusted Market 1 Index Dimensional US Adjusted Market 2 Index Dimensional US Adjusted Market Value Index Dimensional US Large CAP Growth Index Dimensional US Small CAP Growth Index Fama/French US Large Value Research Index Fama/French US Small Value Research Index Dimensional US Targeted Value Index Fama/French US Small Cap Index DOW JONES US SELECT REIT INDEX DOW JONES-UBS COMMODITY INDEX Dimensional International Large CAP Growth Index MSCI EAFE INDEX Dimensional INTERNATIONAL ADJUSTED MARKET INDEX Dimensional INTERNATIONAL VECTOR INDEX Fama/French INTERNATIONAL VALUE INDEX Dimensional INTERNATIONAL SMALL CAP GROWTH INDEX Dimensional INTERNATIONAL SMALL CAP INDEX Dimensional INTERNATIONAL SMALL CAP VALUE INDEX MSCI EMERGING MARKETS INDEX Dimensional EMERGING MARKETS ADJUSTED MARKET INDEX Dimensional EMERGING MARKETS GROWTH INDEX ONE-MONTH US TREASURY BILLS LONG-TERM GOVERNMENT BONDS LONG-TERM CORPORATE BONDS BARCLAYS US TIPS INDEX ONE-MONTH CERTIFICATES OF DEPOSIT BARCLAYS US AGGREGATE BOND INDEX BARCLAYS MUNICIPAL BOND INDEX Dimensional US Intermediate Variable Credit Index Dimensional US Intermediate Variable Government/Credit Index Dimensional US Intermediate Variable Maturity Government/Credit INDEX Dimensional Global Intermediate Variable Maturity Index 1926–2012 1927–2012 1928–2012 1928–2012 1928–2012 1975–2012 1975–2012 1927–2012 1927–2012 1928–2012 1927–2012 1978–2012 1992–2012 1992–2012 1970–2012 1994–2012 1994–2012 1975–2012 1992–2012 1970–2012 1982–2012 1988–2012 1994–2012 1996–2012 1926–2012 1926–2012 1926–2012 1998–2012 1966–2012 1976–2012 1980–2012 1974–2012 1974–2012 1977–2012 1985–2012 11 13 15 17 19 20 21 23 25 27 29 30 30 31 31 32 32 33 33 34 34 35 35 35 37 39 41 42 42 43 43 44 44 45 45 1926–2012 1927–2012 1926–2012 1926–2012 1926–2012 1966–2012 1978–2012 1992–2012 47 49 51 53 55 56 57 57 1973–2012 1973–2012 1973–2012 1973–2012 1973–2012 1973–2012 58 60 60 61 61 62 62 Real Returns (Inflation Adjusted) US INFLATION: CHANGES IN US CONSUMER PRICE INDEX Fama/French US Small Cap Index S&P 500 INDEX LONG-TERM GOVERNMENT BONDS ONE-MONTH US TREASURY BILLS ONE-MONTH CERTIFICATES OF DEPOSIT DOW JONES US SELECT REIT INDEX DOW JONES-UBS COMMODITY INDEX Balanced Strategies Balanced Balanced Balanced Balanced Balanced Balanced Balanced Strategies: Weights and Summary Statistics Strategy: Fixed Strategy: Conservative Strategy: Moderate Strategy: Normal Strategy: Aggressive Strategy: Equity GLOBAL STRATEGIES World market capitalization Sources and Descriptions of Data 63 64 66 MATR IX BOOK 2013 7
  • 6. ANNUALIZED RATES OF RETURNS (%) HOW TO USE THIS BOOK One Year 2012 Five Years 2008–2012 Ten Years 2003–2012 Fifteen Years 1998–2012 Twenty Years 1993–2012 Fifty Years 1963–2012 Eighty Years 1933–2012 S&P 500 Index 16.0 1.7 7.1 4.5 8.2 9.8 11.1 Fama/French Total US Market Index 15.1 2.3 7.9 5.0 8.4 10.0 11.2 Dimensional US Adjusted Market 1 Index 17.1 2.9 8.9 6.1 9.4 11.0 12.2 Dimensional US Adjusted Market 2 Index 17.9 2.9 9.2 6.7 9.9 11.7 12.9 Dimensional US Adjusted Market Value Index 19.3 3.7 10.4 8.2 11.2 13.2 14.2 Dimensional US Large CAP Growth Index 15.3 5.1 7.8 5.3 8.5 — — Dimensional US Small CAP Growth Index 15.6 4.8 10.3 8.3 9.9 — — Fama/French US Large Value Research Index 24.9 -0.8 7.8 5.6 8.6 12.4 14.0 Fama/French US Small Value Research Index 21.9 5.9 12.3 10.9 14.0 16.7 17.6 Dimensional US Targeted Value Index 20.0 6.3 12.5 10.4 13.3 15.1 15.8 Fama/French US Small Cap Index 17.4 5.4 11.4 7.7 10.2 12.4 14.3 Dow Jones US Select REIT Index 17.1 5.1 11.5 9.0 10.9 — — Dow Jones-UBS Commodity Index -1.1 -5.2 4.1 4.0 5.4 — — Dimensional International Large CAP Growth Index 17.9 -1.2 9.9 6.3 7.0 — 17.3 -3.7 8.2 4.4 6.1 — 17.8 -2.2 11.3 7.6 — — 18.1 -1.8 12.1 8.4 — — — Fama/French International Value Index 21.2 -1.5 12.8 9.9 11.4 — — Dimensional International Small CAP Growth Index 20.1 -0.2 13.2 8.5 7.7 — — Dimensional International Small Cap Index 16.8 -1.8 12.4 8.3 7.8 — — Dimensional International Small Cap Value Index 18.2 0.3 14.4 11.1 10.3 — — MSCI Emerging Markets Index 3 The return can be found where the first year’s column meets the last year’s row. In this example, the Fama/French US Large Value Research Index had a compound rate of return of 10.2% per year for the nine-year period. — Dimensional International Vector Index Locate the row for the last year of the interval (2004). 2 Years are labeled at the beginning of each row. — Dimensional International Adjusted Market Index 1 Locate the column for the first year of the interval (1996). Years are labeled at the top and bottom of each column. — MSCI EAFE Index (net dividends) 18.6 -0.6 16.9 9.2 8.8 — — Dimensional Emerging Markets Adjusted Market Index 21.1 1.5 19.9 11.8 — — — Dimensional Emerging Markets Growth Index 19.7 0.8 16.3 8.8 — — — One-Month US Treasury Bills 0.1 0.4 1.7 2.5 3.0 5.2 3.6 Long-Term Government Bonds 3.3 9.3 7.5 7.9 8.6 7.5 5.8 (gross dividends) Long-Term Corporate Bonds 10.7 10.5 7.8 7.9 8.1 7.7 6.2 Barclays US TIPS Index 7.0 7.0 6.7 7.3 — — — One-Month Certificate of Deposit 0.2 0.8 2.0 2.9 3.4 — — Barclays US Aggregate Bond Index 4.2 5.9 5.2 6.0 6.3 — — Barclays Municipal Bond Index 6.8 5.9 5.1 5.4 6.0 — — Dimensional US Intermediate Variable Credit Index 8.8 7.1 5.9 6.4 6.7 — — Dimensional US Intermediate Variable Govt/Credit Index 5.4 5.9 5.1 5.9 6.1 — — Dimensional US Intermediate Variable Maturity Govt/Credit Index 3.9 5.2 4.7 5.6 5.9 — — Dimensional Global Intermediate Variable Maturity Index 4.8 6.2 5.5 6.4 7.1 — — US Consumer Price Index 1.7 1.8 2.4 2.4 2.4 4.1 3.7 DFA Fixed Balanced Strategy Index 1.1 2.5 2.9 4.0 4.5 — — DFA Conservative Balanced Strategy Index 4.7 2.9 4.8 5.1 6.0 — — DFA Moderate Balanced Strategy Index 8.4 3.0 6.6 6.1 7.3 — — 12.1 2.8 8.2 6.9 8.5 — — DFA Normal Balanced Strategy Index DFA Aggressive Balanced Strategy Index 15.8 2.4 9.7 7.6 9.6 — — DFA Equity Balanced Strategy Index 19.6 1.7 11.0 8.1 10.5 — — All returns are in US dollars. For balanced strategy weights, see page 58. For a detailed description of returns series, see page 66. Past performance is no guarantee of future results. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. 8 For example, to find the annualized compound rate of return for the Fama/French US Large Value Research Index for the interval 1996–2004: D I M E N S I O N A L F U N D A D VI S O R S 2 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1993 1 22.2 1994 7.3 -5.8 1995 16.3 13.4 36.6 1996 15.9 13.8 25.2 14.7 1997 18.1 17.1 25.9 20.8 27.3 1998 18.6 17.8 24.6 20.9 24.1 21.0 1999 15.5 14.4 19.0 14.9 15.0 9.3 -1.3 2000 16.0 15.1 19.0 15.8 16.1 12.6 8.6 19.5 2001 14.1 13.1 16.1 13.0 12.7 9.3 5.6 9.3 0.0 2002 9.4 8.1 9.9 6.6 5.3 1.4 -3.0 -3.6 -13.4 -25.0 2003 11.0 9.9 11.8 9.0 8.3 5.4 2.5 3.5 -1.4 -2.1 27.8 2004 11.7 10.8 12.6 10.2 9.7 7.4 5.2 6.6 3.6 4.8 23.9 20.1 2005 11.7 10.9 12.5 10.4 9.9 7.9 6.2 7.5 5.2 6.6 19.8 16.0 12.0 2006 12.6 11.8 13.5 11.6 11.3 9.6 8.2 9.7 8.1 9.8 20.8 18.6 17.8 24.0 2007 11.9 11.2 12.6 10.9 10.5 9.0 7.7 8.9 7.4 8.7 17.1 14.6 12.8 13.2 3.3 2008 7.7 6.8 7.8 5.9 5.2 3.3 1.7 2.1 0.1 0.1 5.0 1.0 -3.3 -8.0 -20.7 -39.1 2009 8.6 7.8 8.7 7.0 6.4 4.8 3.5 4.0 2.4 2.7 7.4 4.3 1.4 -1.1 -8.2 -13.5 22.9 8.7 7.9 8.8 7.2 6.7 5.2 4.0 4.5 3.1 3.5 7.7 5.1 2.8 1.1 -3.9 -6.2 16.4 7.8 7.0 7.8 6.3 5.7 4.3 3.2 3.5 2.2 2.4 6.0 3.6 1.4 -0.3 -4.5 -6.4 8.1 8.6 7.9 8.7 7.3 6.8 5.6 4.6 5.0 3.9 4.3 7.8 5.7 4.1 3.0 -0.1 -0.8 12.0 2010 10.2 1.4 8.7 2011 -6.8 7.9 2012 24.9 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 3 MATR IX BOOK 2013 9
  • 7. 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 10 1926 11.6 23.9 30.1 19.2 8.7 -2.5 -3.3 2.5 2.0 5.9 8.1 3.6 5.5 5.1 4.0 3.0 3.9 5.0 5.8 7.1 6.3 6.3 6.3 6.8 7.7 8.3 8.6 8.3 9.6 10.2 10.1 9.4 10.3 10.3 10.0 10.5 9.9 10.2 10.4 10.4 9.9 10.2 10.2 9.8 9.6 9.7 9.9 9.3 8.5 9.0 9.2 8.9 8.9 9.0 9.4 9.1 9.3 9.6 9.5 9.8 10.0 9.9 10.0 10.3 10.1 10.4 10.3 10.3 10.2 10.5 10.7 11.0 11.2 11.3 11.0 10.7 10.2 10.4 10.4 10.4 10.4 10.4 9.6 9.8 9.9 9.8 9.8 1926 1927 37.5 40.5 21.8 8.0 -5.1 -5.6 1.2 0.9 5.2 7.8 3.0 5.1 4.6 3.5 2.4 3.5 4.7 5.5 6.9 6.1 6.1 6.0 6.6 7.5 8.1 8.5 8.1 9.5 10.2 10.1 9.3 10.2 10.3 10.0 10.4 9.9 10.2 10.4 10.4 9.8 10.2 10.2 9.7 9.6 9.7 9.9 9.3 8.4 8.9 9.2 8.8 8.8 9.0 9.4 9.1 9.3 9.5 9.5 9.8 10.0 9.9 10.0 10.3 10.1 10.4 10.3 10.3 10.2 10.5 10.7 11.0 11.2 11.3 11.0 10.7 10.2 10.4 10.4 10.3 10.4 10.3 9.6 9.8 9.8 9.8 9.8 1927 1928 43.6 14.7 -0.4 -13.5 -12.5 -3.8 -3.5 1.8 4.9 0.0 2.5 2.3 1.3 0.3 1.5 2.9 3.8 5.4 4.7 4.7 4.7 5.3 6.4 7.1 7.5 7.1 8.6 9.3 9.2 8.5 9.5 9.5 9.3 9.7 9.2 9.5 9.7 9.8 9.2 9.6 9.6 9.1 9.0 9.1 9.3 8.7 7.8 8.4 8.7 8.3 8.3 8.5 8.9 8.6 8.8 9.1 9.0 9.4 9.5 9.5 9.6 9.9 9.7 10.0 9.9 9.9 9.8 10.2 10.4 10.7 10.9 11.0 10.7 10.4 9.9 10.1 10.1 10.0 10.1 10.0 9.3 9.5 9.6 9.5 9.5 1928 1929 -8.4 -17.1 -27.0 -22.7 -11.2 -9.7 -3.1 0.9 -3.9 -0.9 -0.8 -1.6 -2.4 -1.0 0.6 1.7 3.5 2.8 3.0 3.1 3.8 4.9 5.7 6.2 5.9 7.4 8.2 8.2 7.4 8.5 8.6 8.3 8.8 8.3 8.7 8.9 9.0 8.4 8.8 8.9 8.4 8.3 8.4 8.7 8.1 7.2 7.7 8.1 7.7 7.7 7.9 8.3 8.1 8.3 8.5 8.5 8.9 9.0 9.0 9.1 9.4 9.2 9.5 9.5 9.5 9.4 9.7 9.9 10.2 10.5 10.6 10.3 10.0 9.5 9.7 9.7 9.7 9.7 9.7 8.9 9.1 9.2 9.1 9.2 1929 1930 -24.9 -34.8 -26.9 -11.9 -9.9 -2.2 2.3 -3.3 0.0 -0.1 -1.0 -1.9 -0.4 1.3 2.5 4.3 3.5 3.7 3.8 4.5 5.6 6.4 6.9 6.5 8.1 8.9 8.8 8.0 9.1 9.2 8.9 9.4 8.8 9.2 9.4 9.5 8.9 9.3 9.3 8.9 8.7 8.9 9.1 8.5 7.5 8.1 8.4 8.1 8.1 8.2 8.7 8.4 8.6 8.9 8.8 9.2 9.4 9.3 9.4 9.7 9.5 9.8 9.8 9.8 9.7 10.0 10.2 10.5 10.8 10.9 10.6 10.3 9.7 10.0 10.0 9.9 10.0 9.9 9.2 9.4 9.4 9.3 9.4 1930 1931 -43.3 -27.9 -7.1 -5.7 3.1 7.7 0.2 3.6 3.2 1.8 0.5 2.0 3.7 4.8 6.6 5.6 5.6 5.6 6.3 7.4 8.2 8.6 8.2 9.7 10.5 10.4 9.5 10.6 10.6 10.3 10.8 10.1 10.5 10.6 10.7 10.1 10.4 10.4 9.9 9.7 9.9 10.1 9.4 8.4 9.0 9.3 8.9 8.9 9.1 9.5 9.2 9.4 9.6 9.6 9.9 10.1 10.0 10.1 10.5 10.2 10.5 10.5 10.5 10.3 10.7 10.9 11.2 11.4 11.5 11.2 10.9 10.3 10.5 10.6 10.5 10.5 10.5 9.7 9.9 9.9 9.8 9.9 1931 1932 -8.2 18.9 11.7 19.8 22.5 10.2 13.0 11.2 8.6 6.4 7.6 9.0 9.8 11.5 10.1 9.8 9.6 10.1 11.1 11.7 12.0 11.4 12.9 13.7 13.4 12.3 13.3 13.3 12.8 13.3 12.5 12.8 12.9 12.9 12.2 12.5 12.4 11.8 11.6 11.7 11.9 11.1 10.1 10.6 10.9 10.5 10.4 10.6 11.0 10.6 10.8 11.0 10.9 11.3 11.4 11.3 11.4 11.7 11.5 11.8 11.7 11.7 11.5 11.9 12.0 12.3 12.5 12.7 12.3 11.9 11.4 11.6 11.6 11.5 11.5 11.5 10.6 10.8 10.9 10.8 10.8 1932 S&P 500 INDEX 1933 54.0 23.2 30.9 31.6 14.3 16.9 14.3 11.0 8.2 9.4 10.8 11.5 13.2 11.6 11.2 10.8 11.2 12.3 12.9 13.2 12.4 14.0 14.7 14.4 13.2 14.3 14.2 13.7 14.1 13.2 13.5 13.6 13.6 12.8 13.1 13.1 12.4 12.2 12.2 12.4 11.7 10.6 11.1 11.4 10.9 10.8 11.0 11.4 11.0 11.2 11.5 11.4 11.7 11.8 11.7 11.8 12.1 11.8 12.1 12.1 12.0 11.8 12.2 12.4 12.7 12.9 13.0 12.6 12.2 11.7 11.9 11.9 11.8 11.8 11.7 10.9 11.1 11.1 11.0 11.1 1933 1926–2012: Total Returns (%) 1934 -1.4 20.6 24.9 6.1 10.7 8.7 5.9 3.5 5.3 7.2 8.3 10.4 8.8 8.6 8.4 9.0 10.2 11.0 11.3 10.7 12.4 13.2 12.9 11.8 12.9 12.9 12.4 12.9 12.1 12.4 12.5 12.5 11.8 12.1 12.1 11.4 11.2 11.3 11.5 10.8 9.7 10.3 10.6 10.1 10.0 10.2 10.6 10.3 10.5 10.7 10.6 11.0 11.2 11.0 11.2 11.5 11.2 11.5 11.5 11.4 11.3 11.6 11.8 12.1 12.4 12.5 12.1 11.7 11.1 11.4 11.4 11.3 11.3 11.3 10.4 10.6 10.7 10.6 10.6 1934 1935 47.7 40.6 8.7 13.9 10.9 7.2 4.3 6.1 8.2 9.3 11.5 9.7 9.4 9.1 9.7 11.0 11.7 12.1 11.4 13.1 13.9 13.6 12.4 13.6 13.5 13.0 13.4 12.6 12.9 13.0 13.0 12.2 12.5 12.5 11.8 11.6 11.7 11.9 11.1 10.0 10.6 10.9 10.4 10.3 10.5 10.9 10.6 10.8 11.0 10.9 11.3 11.4 11.3 11.4 11.7 11.5 11.8 11.7 11.7 11.5 11.9 12.0 12.3 12.6 12.7 12.3 11.9 11.3 11.6 11.6 11.5 11.5 11.4 10.6 10.8 10.8 10.7 10.8 1935 1936 33.9 -6.7 4.5 3.2 0.5 -1.6 1.2 4.0 5.7 8.4 6.8 6.7 6.6 7.4 8.9 9.8 10.3 9.6 11.6 12.5 12.2 11.0 12.3 12.3 11.8 12.3 11.4 11.8 12.0 12.0 11.2 11.6 11.6 10.9 10.7 10.8 11.0 10.3 9.1 9.8 10.1 9.6 9.6 9.8 10.2 9.9 10.1 10.3 10.3 10.7 10.8 10.7 10.8 11.2 10.9 11.2 11.1 11.1 10.9 11.3 11.5 11.9 12.1 12.2 11.9 11.5 10.9 11.1 11.1 11.0 11.1 11.0 10.1 10.4 10.4 10.3 10.4 1936 GROWTH OF $1 1937 -35.0 -7.7 -5.3 -6.5 -7.5 -3.4 0.4 2.6 5.9 4.4 4.5 4.6 5.6 7.3 8.4 9.0 8.3 10.4 11.4 11.2 10.0 11.4 11.4 10.9 11.5 10.7 11.1 11.3 11.3 10.5 10.9 10.9 10.3 10.1 10.2 10.5 9.7 8.5 9.2 9.5 9.1 9.0 9.2 9.7 9.4 9.6 9.9 9.8 10.2 10.4 10.3 10.4 10.8 10.5 10.8 10.8 10.8 10.6 11.0 11.2 11.5 11.8 11.9 11.6 11.2 10.6 10.8 10.8 10.7 10.8 10.7 9.8 10.1 10.1 10.0 10.1 1937 $100,000 1938 31.1 14.3 5.6 1.0 4.6 7.9 9.5 12.6 10.1 9.6 9.2 10.0 11.5 12.4 12.8 11.9 13.9 14.8 14.4 13.0 14.3 14.2 13.5 14.1 13.0 13.4 13.5 13.5 12.6 12.9 12.9 12.1 11.9 12.0 12.1 11.3 10.1 10.7 11.0 10.5 10.4 10.6 11.1 10.7 10.9 11.1 11.0 11.4 11.6 11.5 11.6 11.9 11.6 11.9 11.9 11.8 11.6 12.0 12.2 12.5 12.8 12.9 12.5 12.1 11.5 11.7 11.7 11.6 11.6 11.6 10.7 10.9 10.9 10.8 10.9 1938 1939 -0.4 -5.2 -7.4 -1.1 3.8 6.3 10.1 7.7 7.5 7.3 8.3 10.0 11.1 11.6 10.7 12.9 13.9 13.5 12.1 13.5 13.4 12.8 13.4 12.3 12.7 12.9 12.9 12.0 12.4 12.3 11.6 11.3 11.4 11.6 10.8 9.5 10.2 10.5 10.0 10.0 10.2 10.6 10.2 10.5 10.7 10.6 11.1 11.2 11.1 11.2 11.6 11.3 11.6 11.5 11.5 11.3 11.7 11.9 12.2 12.5 12.6 12.2 11.8 11.2 11.4 11.4 11.3 11.4 11.3 10.4 10.6 10.7 10.5 10.6 1939 $3,530 $10,000 1940 -9.8 -10.7 -1.4 4.9 7.7 12.0 8.9 8.5 8.1 9.2 11.0 12.1 12.5 11.5 13.9 14.9 14.4 12.8 14.3 14.1 13.5 14.0 12.9 13.3 13.5 13.4 12.4 12.8 12.8 12.0 11.7 11.8 12.0 11.1 9.8 10.5 10.8 10.3 10.2 10.4 10.9 10.5 10.8 11.0 10.9 11.3 11.5 11.3 11.4 11.8 11.5 11.8 11.8 11.7 11.5 11.9 12.1 12.5 12.7 12.9 12.5 12.0 11.4 11.6 11.6 11.5 11.6 11.5 10.6 10.8 10.8 10.7 10.8 1940 1941 -11.6 3.2 10.2 12.5 17.0 12.4 11.4 10.6 11.5 13.4 14.3 14.6 13.4 15.8 16.8 16.1 14.3 15.8 15.6 14.8 15.3 14.1 14.5 14.5 14.5 13.4 13.8 13.7 12.8 12.5 12.6 12.8 11.8 10.5 11.1 11.5 10.9 10.8 11.0 11.5 11.1 11.3 11.5 11.4 11.8 12.0 11.8 11.9 12.3 12.0 12.3 12.2 12.2 12.0 12.4 12.6 12.9 13.2 13.3 12.9 12.4 11.8 12.0 12.0 11.9 11.9 11.8 10.9 11.1 11.2 11.0 11.1 1941 $1,000 1942 20.3 23.1 22.0 25.4 17.9 15.7 14.2 14.8 16.6 17.3 17.4 15.7 18.2 19.1 18.2 16.2 17.6 17.3 16.3 16.9 15.5 15.8 15.8 15.7 14.5 14.9 14.7 13.8 13.5 13.5 13.7 12.7 11.2 11.9 12.2 11.6 11.5 11.7 12.2 11.7 11.9 12.2 12.0 12.4 12.6 12.4 12.5 12.9 12.5 12.9 12.7 12.7 12.5 12.9 13.1 13.4 13.6 13.8 13.3 12.9 12.2 12.4 12.4 12.3 12.3 12.2 11.3 11.5 11.5 11.4 11.5 1942 1943 25.9 22.8 27.2 17.3 14.8 13.2 14.0 16.1 16.9 17.1 15.3 18.0 19.0 18.1 15.9 17.5 17.1 16.1 16.7 15.2 15.6 15.6 15.5 14.3 14.7 14.5 13.6 13.2 13.3 13.5 12.4 10.9 11.7 12.0 11.4 11.3 11.4 12.0 11.5 11.7 12.0 11.8 12.3 12.4 12.2 12.3 12.7 12.4 12.7 12.6 12.6 12.3 12.8 12.9 13.3 13.5 13.7 13.2 12.7 12.1 12.3 12.3 12.2 12.2 12.1 11.1 11.4 11.4 11.3 11.3 1943 $100 1944 19.7 27.8 14.5 12.2 10.9 12.1 14.8 15.9 16.1 14.3 17.4 18.5 17.5 15.2 16.9 16.6 15.6 16.2 14.7 15.1 15.2 15.0 13.8 14.2 14.1 13.1 12.8 12.8 13.0 12.0 10.5 11.2 11.6 11.0 10.9 11.1 11.6 11.1 11.4 11.6 11.5 12.0 12.1 11.9 12.1 12.4 12.1 12.4 12.3 12.3 12.1 12.5 12.7 13.1 13.3 13.5 13.0 12.5 11.8 12.1 12.1 12.0 12.0 11.9 10.9 11.1 11.2 11.1 11.1 1944 1945 36.4 12.0 9.8 8.7 10.7 13.9 15.3 15.7 13.7 17.1 18.4 17.3 14.9 16.7 16.4 15.3 16.0 14.4 14.9 14.9 14.8 13.6 14.0 13.9 12.9 12.5 12.6 12.8 11.7 10.2 11.0 11.4 10.7 10.6 10.8 11.4 10.9 11.2 11.4 11.3 11.8 11.9 11.8 11.9 12.3 11.9 12.3 12.2 12.2 11.9 12.4 12.6 12.9 13.2 13.3 12.9 12.4 11.7 12.0 11.9 11.8 11.9 11.8 10.8 11.0 11.1 10.9 11.0 1945 $10 1946 -8.1 -1.4 0.8 5.0 9.9 12.1 13.0 11.2 15.1 16.7 15.7 13.2 15.3 15.1 14.0 14.8 13.3 13.8 13.9 13.8 12.6 13.1 13.0 12.0 11.7 11.8 12.0 10.9 9.4 10.2 10.6 10.0 9.9 10.2 10.7 10.3 10.6 10.9 10.7 11.2 11.4 11.2 11.4 11.8 11.4 11.8 11.7 11.7 11.5 11.9 12.1 12.5 12.8 13.0 12.5 12.0 11.3 11.6 11.6 11.5 11.5 11.4 10.4 10.7 10.7 10.6 10.7 1946 $1 1947 5.7 5.6 9.8 14.9 16.7 17.0 14.2 18.4 19.8 18.4 15.4 17.5 17.1 15.8 16.5 14.8 15.2 15.3 15.1 13.7 14.2 14.0 13.0 12.6 12.6 12.9 11.7 10.1 10.9 11.3 10.7 10.5 10.8 11.3 10.8 11.1 11.4 11.3 11.8 11.9 11.8 11.9 12.3 11.9 12.3 12.2 12.2 11.9 12.4 12.6 13.0 13.3 13.4 12.9 12.4 11.7 12.0 11.9 11.8 11.9 11.8 10.8 11.0 11.0 10.9 11.0 1947 1948 5.5 12.0 18.2 19.6 19.4 15.7 20.4 21.7 19.9 16.4 18.7 18.1 16.6 17.3 15.4 15.8 15.9 15.7 14.2 14.6 14.5 13.3 12.9 12.9 13.2 12.0 10.2 11.1 11.5 10.8 10.7 10.9 11.5 11.0 11.3 11.6 11.4 11.9 12.1 11.9 12.0 12.5 12.1 12.5 12.4 12.3 12.1 12.5 12.7 13.1 13.4 13.5 13.1 12.6 11.8 12.1 12.1 11.9 12.0 11.9 10.8 11.1 11.1 11.0 11.1 1948 1949 18.8 25.1 24.7 23.1 17.9 23.1 24.2 21.9 17.7 20.1 19.3 17.6 18.3 16.1 16.6 16.6 16.3 14.7 15.1 14.9 13.7 13.2 13.3 13.5 12.2 10.4 11.3 11.7 11.0 10.9 11.1 11.7 11.2 11.5 11.8 11.6 12.1 12.3 12.1 12.2 12.6 12.2 12.6 12.5 12.5 12.2 12.7 12.9 13.3 13.6 13.7 13.2 12.7 11.9 12.2 12.2 12.0 12.1 12.0 10.9 11.2 11.2 11.1 11.2 1949 $0 1926 1950 31.7 27.8 24.6 17.6 23.9 25.2 22.3 17.6 20.2 19.4 17.5 18.3 15.9 16.4 16.4 16.2 14.4 14.9 14.7 13.4 13.0 13.0 13.3 12.0 10.1 11.0 11.5 10.7 10.6 10.9 11.5 10.9 11.2 11.6 11.4 11.9 12.1 11.9 12.0 12.5 12.1 12.5 12.4 12.3 12.1 12.6 12.8 13.2 13.5 13.6 13.1 12.6 11.8 12.1 12.1 11.9 12.0 11.9 10.8 11.0 11.1 11.0 11.0 1950 D I M E N S I O N A L F U N D A D VI S O R S 1951 24.0 21.2 13.3 22.0 23.9 20.8 15.7 18.8 18.1 16.2 17.1 14.7 15.3 15.4 15.2 13.4 14.0 13.8 12.5 12.1 12.2 12.5 11.2 9.3 10.3 10.8 10.0 9.9 10.2 10.9 10.3 10.7 11.0 10.9 11.4 11.6 11.4 11.6 12.0 11.6 12.1 11.9 11.9 11.7 12.2 12.4 12.8 13.1 13.3 12.8 12.2 11.4 11.7 11.7 11.6 11.7 11.6 10.5 10.7 10.8 10.6 10.7 1951 2012 Data provided by Standard & Poor’s Index Services Group. 1952 18.4 8.3 21.4 23.9 20.2 14.4 18.1 17.3 15.3 16.4 13.9 14.6 14.7 14.6 12.7 13.4 13.3 11.9 11.5 11.6 12.0 10.6 8.7 9.7 10.3 9.5 9.4 9.7 10.4 9.9 10.2 10.6 10.5 11.1 11.3 11.1 11.2 11.7 11.3 11.8 11.7 11.6 11.4 11.9 12.1 12.6 12.9 13.1 12.6 12.0 11.2 11.5 11.5 11.4 11.5 11.4 10.2 10.5 10.6 10.4 10.5 1952 1953 -1.0 22.9 25.7 20.6 13.6 18.1 17.2 14.9 16.2 13.4 14.3 14.4 14.3 12.4 13.1 13.0 11.6 11.1 11.3 11.7 10.3 8.2 9.4 9.9 9.2 9.1 9.4 10.2 9.6 10.0 10.4 10.2 10.8 11.1 10.9 11.1 11.6 11.1 11.6 11.5 11.5 11.2 11.8 12.0 12.4 12.8 12.9 12.4 11.9 11.1 11.4 11.4 11.3 11.3 11.2 10.1 10.4 10.5 10.3 10.4 1953 1954 52.6 41.7 28.8 17.5 22.3 20.5 17.4 18.6 15.2 15.9 16.0 15.7 13.4 14.2 14.0 12.4 11.9 12.0 12.4 10.9 8.7 9.9 10.4 9.6 9.5 9.8 10.6 10.0 10.4 10.8 10.6 11.2 11.5 11.3 11.4 11.9 11.5 12.0 11.8 11.8 11.5 12.1 12.3 12.8 13.1 13.3 12.7 12.2 11.3 11.7 11.6 11.5 11.6 11.5 10.3 10.6 10.7 10.5 10.6 1954 1955 31.5 18.4 7.7 15.7 15.0 12.4 14.4 11.2 12.4 12.8 12.8 10.7 11.7 11.6 10.1 9.8 10.0 10.5 9.0 6.9 8.2 8.8 8.1 8.0 8.4 9.2 8.7 9.1 9.6 9.4 10.1 10.4 10.2 10.4 10.9 10.5 11.0 10.9 10.9 10.7 11.3 11.5 12.0 12.3 12.5 12.0 11.4 10.6 10.9 10.9 10.8 10.9 10.8 9.7 9.9 10.0 9.9 10.0 1955 1956 6.6 -2.5 10.9 11.1 8.9 11.7 8.5 10.2 10.9 11.1 9.0 10.1 10.2 8.8 8.4 8.8 9.4 7.9 5.7 7.1 7.8 7.1 7.1 7.5 8.4 7.9 8.4 8.8 8.8 9.5 9.7 9.6 9.8 10.4 10.0 10.5 10.4 10.4 10.2 10.8 11.1 11.6 11.9 12.1 11.6 11.0 10.2 10.6 10.6 10.4 10.5 10.4 9.3 9.6 9.7 9.5 9.6 1956 1957 -10.8 13.1 12.7 9.5 12.8 8.9 10.8 11.5 11.6 9.2 10.5 10.5 8.9 8.6 8.9 9.5 7.9 5.7 7.1 7.9 7.1 7.1 7.6 8.5 7.9 8.4 8.9 8.8 9.6 9.8 9.7 9.9 10.5 10.1 10.6 10.5 10.5 10.3 10.9 11.2 11.7 12.1 12.3 11.7 11.1 10.3 10.6 10.6 10.5 10.6 10.5 9.3 9.6 9.7 9.6 9.7 1957 1958 43.4 26.7 17.3 19.6 13.3 14.8 15.1 14.7 11.7 12.9 12.7 10.8 10.2 10.5 11.1 9.2 6.7 8.2 9.0 8.1 8.1 8.5 9.4 8.8 9.3 9.8 9.6 10.4 10.6 10.5 10.7 11.3 10.8 11.3 11.2 11.2 10.9 11.5 11.8 12.3 12.7 12.9 12.3 11.7 10.8 11.2 11.2 11.0 11.1 11.0 9.8 10.1 10.2 10.0 10.1 1958 1959 12.0 6.1 12.6 6.8 9.9 10.9 11.1 8.2 9.9 10.0 8.2 7.8 8.3 9.0 7.3 4.8 6.5 7.4 6.5 6.5 7.1 8.1 7.5 8.1 8.6 8.5 9.3 9.6 9.5 9.7 10.3 9.9 10.5 10.4 10.4 10.1 10.8 11.1 11.6 12.0 12.2 11.7 11.0 10.1 10.5 10.5 10.4 10.5 10.4 9.2 9.5 9.6 9.5 9.6 1959 1960 0.5 12.9 5.2 9.3 10.7 11.0 7.7 9.6 9.8 7.8 7.5 8.0 8.8 7.0 4.3 6.1 7.1 6.2 6.3 6.8 7.9 7.3 7.9 8.5 8.4 9.2 9.5 9.4 9.6 10.3 9.8 10.4 10.3 10.3 10.1 10.7 11.1 11.6 12.0 12.2 11.6 11.0 10.1 10.5 10.5 10.4 10.5 10.4 9.1 9.5 9.6 9.4 9.5 1960 1961 26.9 7.6 12.4 13.5 13.2 9.0 11.0 11.0 8.7 8.2 8.7 9.6 7.5 4.6 6.5 7.5 6.6 6.6 7.2 8.3 7.6 8.2 8.8 8.7 9.6 9.9 9.7 10.0 10.6 10.2 10.8 10.7 10.6 10.4 11.1 11.4 11.9 12.3 12.5 11.9 11.3 10.3 10.7 10.7 10.6 10.7 10.6 9.3 9.6 9.8 9.6 9.7 1961 1962 -8.7 5.9 9.3 10.1 5.7 8.6 8.9 6.6 6.3 7.1 8.1 6.0 3.1 5.2 6.3 5.4 5.5 6.2 7.4 6.8 7.4 8.1 8.0 8.9 9.3 9.1 9.4 10.1 9.6 10.3 10.2 10.2 9.9 10.6 11.0 11.5 12.0 12.2 11.6 10.9 10.0 10.4 10.4 10.3 10.4 10.3 9.0 9.3 9.4 9.3 9.4 1962 1963 22.8 19.6 17.2 9.7 12.4 12.2 9.0 8.3 9.0 9.9 7.4 4.1 6.3 7.5 6.5 6.5 7.1 8.4 7.7 8.3 8.9 8.8 9.7 10.1 9.9 10.1 10.9 10.3 11.0 10.9 10.8 10.5 11.3 11.6 12.2 12.6 12.8 12.2 11.5 10.5 10.9 10.9 10.8 10.9 10.7 9.4 9.7 9.8 9.7 9.8 1963 1964 16.5 14.5 5.6 9.9 10.2 6.8 6.4 7.4 8.6 6.0 2.5 5.1 6.4 5.4 5.5 6.2 7.6 6.9 7.6 8.3 8.2 9.2 9.6 9.4 9.7 10.4 9.9 10.6 10.5 10.5 10.2 10.9 11.3 11.9 12.3 12.5 11.9 11.2 10.2 10.6 10.6 10.5 10.6 10.5 9.1 9.5 9.6 9.4 9.5 1964 1965 12.5 0.6 7.8 8.6 5.0 4.8 6.1 7.7 4.9 1.2 4.1 5.6 4.6 4.7 5.6 7.1 6.3 7.1 7.9 7.8 8.8 9.3 9.1 9.4 10.2 9.7 10.4 10.3 10.3 10.0 10.8 11.1 11.7 12.2 12.4 11.8 11.1 10.0 10.5 10.5 10.3 10.5 10.3 9.0 9.3 9.4 9.3 9.4 1965 1966 -10.0 5.6 7.4 3.2 3.4 5.1 7.0 4.0 0.1 3.3 5.0 3.9 4.1 5.1 6.7 6.0 6.8 7.6 7.6 8.7 9.1 8.9 9.3 10.1 9.6 10.3 10.2 10.2 9.9 10.7 11.1 11.7 12.2 12.4 11.8 11.0 10.0 10.4 10.4 10.3 10.4 10.3 8.9 9.2 9.4 9.2 9.3 1966 1967 24.0 17.4 8.0 7.0 8.4 10.1 6.2 1.4 4.9 6.6 5.3 5.4 6.4 8.0 7.1 8.0 8.8 8.6 9.8 10.2 9.9 10.2 11.1 10.5 11.2 11.1 11.0 10.7 11.5 11.9 12.5 13.0 13.2 12.5 11.7 10.6 11.0 11.0 10.9 11.0 10.8 9.4 9.7 9.9 9.7 9.8 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1968 11.1 0.8 1.9 4.9 7.5 3.5 -1.5 2.7 4.9 3.6 3.9 5.0 6.9 6.0 7.0 7.9 7.8 9.0 9.5 9.3 9.6 10.5 9.9 10.7 10.6 10.5 10.2 11.1 11.5 12.1 12.6 12.9 12.1 11.3 10.2 10.7 10.7 10.5 10.7 10.5 9.0 9.4 9.5 9.4 9.5 1968 1969 -8.5 -2.4 2.9 6.7 2.0 -3.4 1.6 4.1 2.8 3.2 4.5 6.6 5.6 6.7 7.7 7.6 8.9 9.4 9.2 9.5 10.5 9.8 10.7 10.5 10.5 10.2 11.1 11.5 12.2 12.7 12.9 12.2 11.4 10.2 10.7 10.7 10.5 10.7 10.5 9.0 9.4 9.5 9.3 9.5 1969 1970 4.0 9.1 12.3 4.8 -2.3 3.3 6.1 4.3 4.6 5.9 8.0 6.9 7.9 8.9 8.7 10.1 10.6 10.3 10.6 11.6 10.8 11.6 11.5 11.4 11.0 11.9 12.3 13.0 13.5 13.7 12.9 12.0 10.8 11.3 11.3 11.1 11.2 11.1 9.5 9.9 10.0 9.8 9.9 1970 1971 14.3 16.6 5.1 -3.9 3.2 6.4 4.3 4.6 6.1 8.4 7.2 8.3 9.3 9.1 10.5 11.0 10.6 11.0 12.0 11.2 12.0 11.8 11.7 11.3 12.2 12.6 13.3 13.8 14.1 13.2 12.3 11.0 11.5 11.5 11.3 11.4 11.3 9.6 10.0 10.1 9.9 10.1 1971 1972 19.0 0.8 -9.3 0.6 4.9 2.8 3.3 5.1 7.8 6.5 7.7 8.9 8.7 10.2 10.8 10.4 10.8 11.8 11.0 11.9 11.7 11.6 11.1 12.1 12.6 13.3 13.8 14.1 13.2 12.2 10.9 11.4 11.4 11.2 11.4 11.2 9.5 9.9 10.0 9.8 10.0 1972 1973 -14.7 -20.8 -4.9 1.6 -0.2 0.9 3.2 6.5 5.2 6.7 8.0 7.9 9.6 10.2 9.9 10.3 11.4 10.6 11.5 11.3 11.3 10.8 11.8 12.3 13.1 13.6 13.9 13.0 12.0 10.7 11.2 11.2 11.0 11.1 11.0 9.2 9.7 9.8 9.6 9.8 1973 1974 -26.5 0.5 7.7 3.8 4.3 6.6 9.9 7.9 9.4 10.6 10.2 11.9 12.4 11.9 12.2 13.3 12.3 13.2 12.9 12.8 12.2 13.2 13.6 14.4 14.9 15.2 14.2 13.1 11.7 12.2 12.1 11.9 12.0 11.8 10.0 10.4 10.6 10.3 10.5 1974 1975 37.2 30.4 16.4 13.9 14.8 17.5 14.0 14.9 15.7 14.8 16.2 16.4 15.5 15.6 16.6 15.3 16.1 15.6 15.3 14.6 15.6 15.9 16.6 17.1 17.2 16.1 14.9 13.3 13.8 13.7 13.4 13.5 13.3 11.3 11.7 11.8 11.5 11.7 1975 1976 23.8 7.2 7.0 9.8 13.9 10.6 12.1 13.3 12.5 14.3 14.7 13.9 14.1 15.3 13.9 14.9 14.5 14.2 13.5 14.6 15.0 15.8 16.3 16.5 15.3 14.1 12.5 13.1 13.0 12.7 12.8 12.6 10.6 11.1 11.2 10.9 11.0 1976 1977 -7.2 -0.5 5.4 11.6 8.1 10.2 11.9 11.2 13.3 13.8 13.0 13.3 14.6 13.3 14.3 13.9 13.7 13.0 14.1 14.6 15.4 16.0 16.2 15.0 13.8 12.1 12.7 12.6 12.4 12.5 12.2 10.2 10.7 10.8 10.6 10.7 1977 1978 6.6 12.3 18.7 12.3 14.0 15.4 14.1 16.2 16.4 15.3 15.4 16.7 15.0 16.1 15.5 15.1 14.3 15.4 15.8 16.6 17.2 17.4 16.1 14.7 13.0 13.5 13.4 13.1 13.2 13.0 10.8 11.3 11.4 11.1 11.3 1978 1979 18.4 25.2 14.2 16.0 17.3 15.4 17.6 17.7 16.3 16.3 17.6 15.7 16.8 16.1 15.7 14.8 16.0 16.4 17.2 17.7 17.9 16.5 15.1 13.3 13.8 13.7 13.4 13.5 13.2 11.0 11.5 11.6 11.3 11.4 1979 1980 32.4 12.2 15.2 17.0 14.8 17.5 17.6 16.0 16.1 17.5 15.5 16.7 16.0 15.5 14.5 15.8 16.2 17.1 17.7 17.9 16.4 15.0 13.0 13.6 13.5 13.2 13.3 13.0 10.7 11.2 11.4 11.1 11.2 1980 1981 -4.9 7.4 12.3 10.7 14.7 15.3 13.8 14.2 16.0 13.9 15.3 14.7 14.3 13.3 14.8 15.3 16.3 16.9 17.2 15.7 14.2 12.2 12.9 12.8 12.5 12.6 12.3 10.0 10.6 10.7 10.4 10.6 1981 1982 21.4 22.0 16.5 20.2 19.9 17.3 17.2 18.9 16.2 17.6 16.7 16.1 14.9 16.4 16.8 17.8 18.4 18.5 16.9 15.2 13.1 13.8 13.7 13.3 13.4 13.1 10.6 11.2 11.3 11.0 11.1 1982 1983 22.5 14.1 19.8 19.5 16.5 16.5 18.6 15.6 17.2 16.2 15.6 14.4 16.0 16.5 17.5 18.2 18.4 16.6 14.9 12.7 13.4 13.3 12.9 13.0 12.7 10.2 10.8 11.0 10.6 10.8 1983 1984 6.3 18.5 18.5 15.0 15.4 17.9 14.7 16.5 15.5 14.9 13.6 15.5 16.0 17.2 17.9 18.1 16.3 14.5 12.2 13.0 12.9 12.5 12.7 12.3 9.8 10.4 10.5 10.2 10.4 1984 1985 32.2 25.1 18.1 17.8 20.4 16.1 18.1 16.7 16.0 14.4 16.3 16.9 18.1 18.8 18.9 17.0 15.0 12.6 13.4 13.2 12.8 13.0 12.6 9.9 10.5 10.7 10.4 10.6 1985 1986 18.5 11.7 13.3 17.6 13.2 15.9 14.7 14.1 12.6 14.9 15.6 17.0 17.8 18.0 16.0 14.0 11.5 12.4 12.3 11.9 12.1 11.8 9.0 9.7 9.9 9.6 9.9 1986 1987 5.2 10.9 17.4 11.9 15.4 14.0 13.5 11.9 14.5 15.3 16.8 17.8 18.0 15.8 13.7 11.1 12.0 12.0 11.6 11.8 11.5 8.6 9.4 9.6 9.3 9.5 1987 1988 16.8 23.9 14.2 18.0 15.9 14.9 12.8 15.7 16.5 18.1 19.0 19.1 16.7 14.4 11.5 12.5 12.4 12.0 12.2 11.8 8.8 9.6 9.8 9.5 9.7 1988 1989 31.5 12.9 18.5 15.7 14.5 12.2 15.5 16.4 18.2 19.2 19.4 16.7 14.2 11.1 12.2 12.1 11.7 11.9 11.6 8.4 9.2 9.5 9.1 9.4 1989 1990 -3.1 12.4 10.8 10.6 8.7 13.1 14.4 16.6 17.9 18.2 15.4 12.9 9.7 10.9 10.9 10.5 10.9 10.5 7.3 8.2 8.5 8.2 8.6 1990 1991 30.5 18.5 15.6 11.9 16.6 17.6 19.8 20.8 20.9 17.5 14.4 10.8 12.1 12.0 11.5 11.8 11.4 7.9 8.8 9.1 8.8 9.1 1991 1992 7.6 8.8 6.3 13.4 15.2 18.1 19.5 19.7 16.1 12.9 9.2 10.7 10.7 10.3 10.6 10.3 6.7 7.7 8.1 7.8 8.2 1992 MATR IX BOOK 2013 1993 10.1 5.6 15.3 17.2 20.3 21.6 21.5 17.2 13.5 9.3 11.0 11.0 10.5 10.9 10.5 6.7 7.8 8.1 7.8 8.2 1993 1994 1.3 18.1 19.7 23.0 24.1 23.6 18.3 14.0 9.3 11.1 11.0 10.5 10.9 10.5 6.5 7.6 8.0 7.7 8.1 1994 1995 37.6 30.1 31.2 30.5 28.6 21.3 15.9 10.3 12.2 12.1 11.4 11.8 11.3 6.8 8.0 8.5 8.1 8.5 1995 1996 23.0 28.1 28.2 26.4 18.3 12.7 6.9 9.4 9.5 9.1 9.7 9.3 4.8 6.2 6.8 6.5 7.0 1996 1997 33.4 30.9 27.6 17.2 10.7 4.4 7.6 8.0 7.6 8.4 8.2 3.4 5.0 5.7 5.5 6.1 1997 1998 28.6 24.8 12.3 5.7 -0.6 3.8 4.8 4.8 6.0 5.9 1.0 2.9 3.8 3.7 4.5 1998 1999 21.0 4.9 -1.0 -6.8 -0.6 1.3 1.8 3.4 3.7 -1.4 0.9 2.0 2.0 2.9 1999 2000 -9.1 -10.5 -14.6 -5.3 -2.3 -1.1 1.1 1.7 -3.6 -0.9 0.4 0.6 1.7 2000 2001 -11.9 -17.2 -4.1 -0.5 0.5 2.9 3.3 -2.9 0.0 1.4 1.5 2.6 2001 2002 -22.1 0.1 3.6 3.9 6.2 6.1 -1.5 1.6 3.0 2.9 4.0 2002 2003 28.7 19.5 14.4 14.7 12.8 2.4 5.5 6.7 6.2 7.1 2003 2004 10.9 7.9 10.4 9.2 -2.2 2.1 3.9 3.6 4.9 2004 2005 4.9 10.2 8.6 -5.2 0.4 2.7 2.6 4.2 2005 2006 15.8 10.5 -8.4 -0.7 2.3 2.3 4.1 2006 2007 5.5 -18.5 -5.6 -0.8 -0.2 2.3 2007 2008 -37.0 -10.7 -2.9 -1.6 1.7 2008 2009 26.5 2010 20.6 15.1 2011 14.1 8.4 2.1 2012 14.6 10.9 8.8 16.0 2009 2010 2011 2012 11
  • 8. 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 12 1927 34.0 36.0 17.1 3.6 -8.3 -8.3 -1.1 -0.4 3.8 6.4 1.8 3.8 3.7 2.9 2.0 2.8 4.2 5.1 6.6 5.9 5.8 5.6 6.2 7.1 7.6 7.9 7.6 8.9 9.4 9.4 8.7 9.7 9.7 9.5 9.9 9.4 9.7 9.8 9.9 9.4 9.8 9.9 9.4 9.2 9.4 9.5 8.9 7.9 8.5 8.8 8.6 8.6 8.8 9.2 9.0 9.2 9.4 9.4 9.7 9.8 9.7 9.8 10.1 9.8 10.2 10.2 10.2 10.0 10.4 10.5 10.8 11.0 11.2 10.8 10.5 10.0 10.3 10.3 10.2 10.3 10.2 9.5 9.7 9.8 9.7 9.8 1927 1928 38.1 9.5 -4.9 -16.6 -15.0 -5.9 -4.5 0.6 3.7 -1.0 1.4 1.5 0.8 0.0 1.0 2.5 3.6 5.2 4.6 4.6 4.5 5.1 6.1 6.7 6.9 6.7 8.0 8.6 8.6 7.9 9.0 9.1 8.8 9.3 8.7 9.0 9.2 9.4 8.9 9.3 9.4 8.9 8.7 8.9 9.0 8.4 7.4 8.0 8.4 8.1 8.1 8.4 8.8 8.6 8.8 9.0 9.0 9.3 9.5 9.3 9.5 9.8 9.5 9.8 9.8 9.9 9.7 10.1 10.2 10.5 10.7 10.9 10.5 10.2 9.7 10.0 10.0 10.0 10.0 10.0 9.2 9.4 9.5 9.4 9.5 1928 1929 -13.2 -21.1 -29.5 -24.8 -12.9 -10.2 -3.9 0.1 -4.5 -1.7 -1.3 -1.8 -2.4 -1.2 0.5 1.7 3.6 3.0 3.1 3.0 3.8 4.8 5.5 5.8 5.6 7.0 7.6 7.7 7.0 8.1 8.2 8.0 8.5 8.0 8.3 8.5 8.7 8.2 8.6 8.8 8.3 8.1 8.3 8.4 7.8 6.9 7.4 7.8 7.6 7.6 7.9 8.3 8.1 8.3 8.6 8.5 8.9 9.0 8.9 9.0 9.3 9.1 9.4 9.4 9.5 9.3 9.7 9.9 10.1 10.3 10.5 10.2 9.9 9.4 9.6 9.7 9.6 9.7 9.6 8.9 9.1 9.2 9.1 9.2 1929 1930 -28.3 -36.5 -28.3 -12.8 -9.6 -2.2 2.1 -3.4 -0.4 0.0 -0.7 -1.5 -0.2 1.6 2.8 4.7 4.1 4.0 3.9 4.7 5.8 6.4 6.7 6.4 7.9 8.5 8.5 7.8 8.9 9.0 8.8 9.3 8.7 9.0 9.2 9.4 8.8 9.3 9.4 8.9 8.7 8.8 9.0 8.3 7.3 7.9 8.3 8.1 8.1 8.4 8.8 8.6 8.8 9.0 9.0 9.3 9.5 9.3 9.5 9.8 9.5 9.9 9.9 9.9 9.7 10.1 10.2 10.5 10.7 10.9 10.6 10.2 9.7 10.0 10.0 10.0 10.0 10.0 9.2 9.4 9.5 9.4 9.5 1930 1931 -43.7 -28.2 -7.0 -4.2 4.0 8.3 0.8 3.8 3.7 2.6 1.4 2.5 4.3 5.5 7.4 6.5 6.3 6.1 6.8 7.8 8.4 8.7 8.3 9.8 10.4 10.3 9.4 10.6 10.6 10.3 10.8 10.1 10.4 10.6 10.7 10.1 10.5 10.6 10.0 9.8 9.9 10.1 9.4 8.3 8.9 9.3 9.0 9.0 9.3 9.7 9.4 9.7 9.9 9.8 10.2 10.3 10.1 10.3 10.6 10.3 10.6 10.6 10.6 10.4 10.8 11.0 11.2 11.4 11.6 11.2 10.9 10.4 10.6 10.7 10.6 10.7 10.6 9.8 10.0 10.1 10.0 10.1 1931 1932 -8.5 19.6 14.4 21.3 23.5 11.1 13.3 12.0 9.7 7.5 8.3 9.8 10.7 12.5 11.1 10.7 10.1 10.7 11.6 12.0 12.1 11.6 13.0 13.5 13.3 12.3 13.4 13.3 12.9 13.3 12.5 12.8 12.9 12.9 12.2 12.6 12.7 12.0 11.7 11.8 11.9 11.1 10.0 10.6 10.9 10.6 10.5 10.8 11.2 10.9 11.1 11.3 11.2 11.6 11.6 11.5 11.6 11.9 11.5 11.9 11.8 11.8 11.6 12.0 12.1 12.4 12.6 12.7 12.4 12.0 11.4 11.7 11.7 11.6 11.7 11.6 10.8 11.0 11.1 10.9 11.0 1932 1933 56.4 27.9 33.2 33.1 15.5 17.4 15.3 12.2 9.5 10.1 11.7 12.5 14.3 12.7 12.1 11.4 11.9 12.8 13.2 13.3 12.6 14.1 14.6 14.3 13.2 14.3 14.2 13.7 14.2 13.3 13.5 13.6 13.6 12.9 13.3 13.3 12.6 12.3 12.4 12.5 11.6 10.5 11.1 11.4 11.1 11.0 11.2 11.7 11.3 11.5 11.7 11.6 12.0 12.1 11.9 12.0 12.2 11.9 12.3 12.2 12.2 12.0 12.3 12.5 12.7 12.9 13.1 12.7 12.3 11.7 12.0 12.0 11.9 12.0 11.9 11.0 11.3 11.3 11.2 11.2 1933 Fama/French Total US Market Index 1934 4.6 22.9 26.1 7.0 10.9 9.5 7.0 4.7 5.9 8.0 9.1 11.3 9.9 9.4 8.9 9.6 10.7 11.2 11.3 10.8 12.4 13.0 12.8 11.7 12.9 12.9 12.4 12.9 12.0 12.3 12.4 12.5 11.8 12.2 12.3 11.6 11.3 11.4 11.5 10.7 9.6 10.2 10.5 10.2 10.1 10.4 10.9 10.6 10.8 11.0 10.9 11.3 11.4 11.2 11.3 11.6 11.2 11.6 11.6 11.6 11.4 11.7 11.9 12.2 12.4 12.5 12.1 11.8 11.2 11.5 11.5 11.4 11.5 11.4 10.5 10.8 10.8 10.7 10.8 1934 1935 44.5 38.4 7.8 12.5 10.6 7.4 4.7 6.1 8.4 9.6 11.9 10.3 9.8 9.3 10.0 11.1 11.6 11.7 11.1 12.8 13.4 13.1 12.0 13.2 13.2 12.7 13.2 12.3 12.6 12.7 12.8 12.0 12.5 12.5 11.8 11.5 11.6 11.7 10.9 9.7 10.3 10.7 10.3 10.3 10.6 11.0 10.7 10.9 11.1 11.0 11.4 11.5 11.3 11.4 11.7 11.4 11.7 11.7 11.7 11.5 11.9 12.0 12.3 12.5 12.7 12.3 11.9 11.3 11.6 11.6 11.5 11.5 11.5 10.6 10.8 10.9 10.8 10.9 1935 1927–2012: Total Returns (%) 1936 32.6 -6.8 3.6 3.4 1.2 -0.7 1.5 4.5 6.3 9.1 7.7 7.3 6.9 7.8 9.2 9.8 10.1 9.5 11.3 12.0 11.8 10.7 12.0 12.1 11.6 12.1 11.3 11.6 11.7 11.8 11.1 11.6 11.7 11.0 10.7 10.8 11.0 10.1 8.9 9.6 9.9 9.6 9.6 9.9 10.4 10.0 10.3 10.5 10.4 10.8 10.9 10.7 10.9 11.2 10.8 11.2 11.2 11.2 11.0 11.4 11.5 11.8 12.0 12.2 11.8 11.4 10.9 11.1 11.2 11.1 11.1 11.1 10.2 10.4 10.5 10.4 10.5 1936 1937 -34.5 -8.5 -4.8 -5.4 -6.3 -2.9 1.0 3.4 6.8 5.5 5.3 5.0 6.1 7.7 8.5 8.8 8.3 10.3 11.0 10.9 9.8 11.2 11.2 10.8 11.4 10.5 10.9 11.1 11.2 10.5 11.0 11.1 10.4 10.1 10.2 10.4 9.5 8.3 9.0 9.4 9.1 9.1 9.4 9.9 9.6 9.8 10.1 10.0 10.4 10.5 10.4 10.5 10.8 10.5 10.9 10.9 10.9 10.7 11.1 11.2 11.5 11.7 11.9 11.5 11.1 10.6 10.9 10.9 10.8 10.9 10.8 9.9 10.2 10.3 10.1 10.2 1937 1938 27.9 14.8 7.0 2.4 5.0 8.6 10.4 13.5 11.2 10.4 9.6 10.5 11.9 12.5 12.5 11.7 13.7 14.3 14.0 12.6 14.0 14.0 13.4 13.9 12.8 13.2 13.3 13.3 12.5 13.0 13.0 12.2 11.8 11.9 12.1 11.1 9.8 10.5 10.9 10.5 10.5 10.8 11.2 10.9 11.1 11.4 11.2 11.6 11.7 11.5 11.6 11.9 11.6 12.0 11.9 11.9 11.7 12.1 12.2 12.5 12.7 12.9 12.5 12.1 11.5 11.7 11.7 11.7 11.7 11.6 10.7 11.0 11.1 10.9 11.0 1938 GROWTH OF $1 1939 3.0 -2.1 -4.9 0.0 5.1 7.7 11.6 9.3 8.6 8.0 9.0 10.6 11.3 11.5 10.7 12.9 13.6 13.3 11.9 13.4 13.3 12.7 13.3 12.3 12.6 12.7 12.8 11.9 12.5 12.5 11.7 11.3 11.5 11.6 10.7 9.4 10.1 10.5 10.1 10.1 10.4 10.9 10.5 10.7 11.0 10.9 11.3 11.4 11.2 11.3 11.7 11.3 11.7 11.7 11.6 11.4 11.8 12.0 12.3 12.5 12.7 12.2 11.8 11.2 11.5 11.5 11.4 11.5 11.4 10.5 10.7 10.8 10.7 10.8 1939 $100,000 1940 -6.9 -8.5 -1.0 5.7 8.7 13.1 10.2 9.4 8.5 9.7 11.3 12.1 12.2 11.3 13.6 14.3 13.9 12.4 13.9 13.9 13.2 13.8 12.7 13.0 13.1 13.2 12.3 12.8 12.9 12.0 11.6 11.8 11.9 10.9 9.6 10.3 10.7 10.3 10.2 10.6 11.1 10.7 10.9 11.2 11.1 11.5 11.6 11.4 11.5 11.8 11.5 11.9 11.8 11.8 11.6 12.0 12.1 12.5 12.6 12.8 12.4 12.0 11.4 11.6 11.7 11.6 11.6 11.5 10.6 10.9 11.0 10.8 10.9 1940 1941 -10.1 2.1 10.3 13.0 17.6 13.3 11.9 10.6 11.7 13.3 14.0 13.9 12.9 15.2 15.8 15.4 13.7 15.2 15.1 14.3 14.9 13.7 14.0 14.1 14.1 13.1 13.6 13.7 12.7 12.3 12.4 12.6 11.5 10.1 10.8 11.2 10.8 10.7 11.1 11.6 11.2 11.4 11.7 11.5 11.9 12.0 11.8 11.9 12.3 11.9 12.3 12.2 12.2 12.0 12.4 12.5 12.8 13.0 13.2 12.8 12.3 11.7 12.0 12.0 11.9 11.9 11.8 10.9 11.1 11.2 11.1 11.1 1941 $2,996 $10,000 1942 16.0 22.1 21.9 25.8 18.7 16.1 14.0 14.8 16.3 16.7 16.4 15.0 17.4 18.0 17.3 15.4 16.9 16.7 15.8 16.3 14.9 15.2 15.3 15.2 14.2 14.7 14.6 13.6 13.2 13.3 13.4 12.2 10.8 11.5 11.9 11.4 11.4 11.7 12.2 11.8 12.0 12.2 12.1 12.5 12.6 12.3 12.5 12.8 12.4 12.8 12.7 12.7 12.4 12.8 13.0 13.3 13.5 13.7 13.2 12.7 12.1 12.4 12.4 12.3 12.3 12.2 11.2 11.5 11.6 11.4 11.5 1942 $1,000 1943 28.6 25.0 29.2 19.4 16.1 13.6 14.6 16.3 16.8 16.5 14.9 17.5 18.1 17.4 15.3 17.0 16.7 15.8 16.3 14.9 15.2 15.2 15.2 14.1 14.6 14.6 13.5 13.1 13.2 13.3 12.1 10.6 11.3 11.8 11.3 11.2 11.6 12.1 11.7 11.9 12.1 12.0 12.4 12.5 12.3 12.4 12.7 12.3 12.7 12.6 12.6 12.4 12.8 12.9 13.2 13.4 13.6 13.1 12.7 12.0 12.3 12.3 12.2 12.3 12.1 11.2 11.4 11.5 11.4 11.4 1943 1944 21.4 29.5 16.5 13.2 10.9 12.4 14.7 15.4 15.2 13.7 16.6 17.3 16.6 14.4 16.2 16.0 15.1 15.7 14.2 14.5 14.6 14.6 13.5 14.1 14.1 13.0 12.5 12.7 12.8 11.6 10.1 10.8 11.3 10.8 10.8 11.1 11.7 11.2 11.5 11.8 11.6 12.1 12.2 11.9 12.0 12.4 12.0 12.4 12.3 12.3 12.1 12.5 12.6 13.0 13.2 13.4 12.9 12.4 11.7 12.1 12.1 12.0 12.0 11.9 10.9 11.2 11.3 11.1 11.2 1944 $100 1945 38.0 14.1 10.5 8.4 10.7 13.6 14.6 14.4 12.8 16.1 16.9 16.2 13.9 15.9 15.7 14.7 15.4 13.8 14.2 14.3 14.3 13.1 13.7 13.8 12.7 12.2 12.3 12.5 11.3 9.7 10.5 11.0 10.5 10.5 10.8 11.4 11.0 11.2 11.5 11.4 11.8 11.9 11.7 11.8 12.2 11.8 12.2 12.2 12.1 11.9 12.3 12.5 12.8 13.0 13.2 12.7 12.3 11.6 11.9 11.9 11.8 11.9 11.8 10.8 11.0 11.1 11.0 11.0 1945 1946 -5.7 -1.1 0.0 4.7 9.3 11.1 11.4 10.0 13.9 15.0 14.4 12.1 14.3 14.2 13.3 14.1 12.5 13.0 13.2 13.2 12.1 12.8 12.8 11.7 11.3 11.5 11.6 10.4 8.8 9.7 10.2 9.8 9.7 10.1 10.7 10.3 10.6 10.9 10.8 11.2 11.4 11.1 11.3 11.7 11.2 11.7 11.7 11.7 11.4 11.9 12.0 12.4 12.6 12.8 12.3 11.9 11.2 11.5 11.5 11.4 11.5 11.4 10.4 10.7 10.8 10.6 10.7 1946 $10 1947 3.7 2.9 8.4 13.3 14.8 14.6 12.5 16.6 17.5 16.6 13.9 16.2 15.9 14.8 15.5 13.8 14.2 14.3 14.3 13.0 13.7 13.7 12.6 12.0 12.2 12.4 11.1 9.4 10.3 10.8 10.3 10.3 10.6 11.2 10.8 11.1 11.4 11.2 11.7 11.8 11.6 11.7 12.1 11.7 12.1 12.1 12.1 11.8 12.2 12.4 12.8 13.0 13.2 12.7 12.2 11.5 11.8 11.8 11.7 11.8 11.7 10.7 10.9 11.0 10.9 10.9 1947 1948 2.1 10.9 16.8 17.7 16.9 14.0 18.6 19.4 18.1 14.9 17.4 17.0 15.7 16.4 14.5 14.9 15.0 14.9 13.6 14.2 14.2 13.0 12.4 12.6 12.7 11.4 9.6 10.5 11.0 10.5 10.5 10.9 11.5 11.0 11.3 11.6 11.4 11.9 12.1 11.8 11.9 12.3 11.8 12.3 12.3 12.2 12.0 12.4 12.6 13.0 13.2 13.4 12.9 12.4 11.6 12.0 12.0 11.9 11.9 11.8 10.8 11.1 11.2 11.0 11.1 1948 $1 1949 20.3 24.8 23.4 20.9 16.5 21.5 22.1 20.3 16.4 19.0 18.4 16.9 17.6 15.4 15.8 15.8 15.7 14.2 14.9 14.9 13.5 12.9 13.0 13.2 11.8 9.9 10.8 11.4 10.8 10.8 11.2 11.8 11.3 11.6 11.9 11.7 12.2 12.3 12.0 12.2 12.6 12.1 12.6 12.5 12.5 12.2 12.7 12.8 13.2 13.4 13.6 13.1 12.6 11.8 12.2 12.2 12.1 12.1 12.0 10.9 11.2 11.3 11.1 11.2 1949 1950 29.5 25.0 21.0 15.6 21.8 22.4 20.3 16.0 18.9 18.2 16.6 17.4 15.1 15.5 15.5 15.5 13.9 14.6 14.6 13.2 12.6 12.7 12.9 11.4 9.5 10.5 11.1 10.5 10.4 10.9 11.5 11.0 11.3 11.7 11.5 12.0 12.1 11.8 12.0 12.4 11.9 12.4 12.3 12.3 12.0 12.5 12.7 13.0 13.3 13.5 12.9 12.4 11.7 12.0 12.0 11.9 12.0 11.9 10.8 11.1 11.2 11.0 11.1 1950 1951 20.6 17.0 11.3 19.9 21.0 18.8 14.1 17.6 17.1 15.3 16.4 13.9 14.5 14.6 14.6 13.0 13.8 13.8 12.4 11.8 12.0 12.2 10.7 8.7 9.8 10.4 9.9 9.8 10.3 11.0 10.5 10.8 11.2 11.0 11.5 11.7 11.4 11.6 12.0 11.5 12.0 12.0 11.9 11.6 12.1 12.3 12.7 12.9 13.2 12.6 12.1 11.4 11.7 11.7 11.6 11.7 11.6 10.5 10.8 10.9 10.7 10.8 1951 D I M E N S I O N A L F U N D A D VI S O R S $0 1927 1952 13.5 6.9 19.7 21.1 18.4 13.1 17.2 16.6 14.8 15.9 13.4 14.0 14.1 14.2 12.5 13.4 13.4 12.0 11.3 11.6 11.8 10.3 8.3 9.4 10.0 9.5 9.4 9.9 10.7 10.2 10.5 10.9 10.7 11.3 11.4 11.1 11.3 11.8 11.3 11.8 11.7 11.7 11.4 12.0 12.2 12.5 12.8 13.0 12.5 12.0 11.2 11.5 11.6 11.5 11.5 11.4 10.3 10.6 10.7 10.6 10.6 1952 1953 0.7 22.9 23.7 19.7 13.0 17.8 17.1 14.9 16.2 13.3 14.0 14.2 14.2 12.4 13.4 13.4 11.9 11.2 11.5 11.7 10.1 8.0 9.2 9.9 9.3 9.3 9.8 10.6 10.0 10.4 10.8 10.6 11.2 11.4 11.1 11.3 11.7 11.2 11.8 11.7 11.7 11.4 11.9 12.1 12.5 12.8 13.0 12.5 11.9 11.1 11.5 11.5 11.4 11.5 11.4 10.3 10.6 10.7 10.5 10.6 1953 2012 Data provided by Fama/French. 1954 50.1 37.2 26.8 16.3 21.6 20.1 17.1 18.3 14.8 15.4 15.5 15.4 13.4 14.4 14.3 12.6 11.9 12.1 12.3 10.6 8.4 9.6 10.3 9.7 9.6 10.2 10.9 10.4 10.8 11.1 10.9 11.6 11.7 11.4 11.6 12.0 11.5 12.1 12.0 12.0 11.7 12.2 12.4 12.8 13.1 13.3 12.7 12.2 11.4 11.7 11.7 11.6 11.7 11.6 10.4 10.7 10.9 10.7 10.8 1954 1955 25.3 16.5 6.9 15.3 14.8 12.4 14.4 11.0 12.1 12.5 12.7 10.7 12.0 12.1 10.5 9.8 10.2 10.5 8.8 6.6 8.0 8.8 8.2 8.2 8.8 9.7 9.1 9.6 10.0 9.8 10.5 10.7 10.4 10.6 11.1 10.6 11.2 11.1 11.1 10.8 11.4 11.6 12.1 12.3 12.6 12.0 11.5 10.7 11.1 11.1 11.0 11.1 11.0 9.8 10.1 10.3 10.1 10.2 1955 1956 8.3 -1.3 12.2 12.3 9.9 12.6 9.1 10.6 11.2 11.5 9.5 10.9 11.2 9.5 8.9 9.3 9.7 8.0 5.7 7.2 8.0 7.5 7.5 8.2 9.1 8.6 9.0 9.5 9.3 10.0 10.2 10.0 10.2 10.7 10.2 10.8 10.8 10.8 10.5 11.1 11.3 11.8 12.0 12.3 11.7 11.2 10.4 10.8 10.8 10.7 10.8 10.7 9.5 9.9 10.0 9.8 9.9 1956 1957 -10.1 14.2 13.7 10.4 13.5 9.3 10.9 11.5 11.9 9.6 11.2 11.4 9.6 8.9 9.4 9.8 8.0 5.6 7.1 8.0 7.5 7.5 8.2 9.1 8.6 9.0 9.5 9.4 10.1 10.3 10.0 10.3 10.8 10.2 10.9 10.9 10.9 10.6 11.2 11.4 11.9 12.1 12.4 11.8 11.3 10.4 10.8 10.9 10.8 10.9 10.7 9.6 9.9 10.0 9.9 10.0 1957 1958 45.0 27.9 18.2 20.3 13.6 14.8 15.0 15.0 12.0 13.6 13.6 11.4 10.5 10.9 11.3 9.2 6.6 8.1 9.1 8.4 8.4 9.1 10.0 9.4 9.9 10.4 10.2 10.9 11.1 10.8 11.0 11.5 10.9 11.6 11.5 11.5 11.2 11.8 12.0 12.5 12.7 13.0 12.4 11.8 10.9 11.3 11.4 11.2 11.3 11.2 10.0 10.3 10.5 10.3 10.4 1958 1959 12.8 6.7 13.1 6.9 9.6 10.7 11.2 8.5 10.5 10.9 8.7 8.1 8.7 9.2 7.2 4.6 6.3 7.3 6.8 6.8 7.6 8.7 8.1 8.6 9.2 9.0 9.8 10.0 9.7 10.0 10.6 10.0 10.7 10.7 10.7 10.4 11.0 11.3 11.7 12.0 12.3 11.7 11.1 10.3 10.7 10.7 10.6 10.7 10.6 9.4 9.7 9.9 9.7 9.8 1959 1960 0.9 13.2 5.1 8.8 10.3 11.0 7.9 10.3 10.7 8.3 7.6 8.3 8.9 6.8 4.0 5.9 7.0 6.5 6.5 7.3 8.5 7.9 8.4 9.0 8.9 9.7 9.9 9.6 9.9 10.5 9.9 10.6 10.6 10.6 10.3 10.9 11.2 11.7 12.0 12.3 11.7 11.1 10.2 10.7 10.7 10.6 10.7 10.6 9.3 9.7 9.8 9.7 9.8 1960 1961 27.0 7.2 11.6 12.7 13.1 9.1 11.6 12.0 9.2 8.3 9.0 9.6 7.2 4.3 6.2 7.4 6.8 6.9 7.7 8.8 8.2 8.8 9.4 9.2 10.0 10.3 10.0 10.2 10.8 10.2 10.9 10.9 10.9 10.6 11.2 11.5 12.0 12.3 12.6 12.0 11.3 10.4 10.9 10.9 10.8 10.9 10.8 9.5 9.9 10.0 9.8 9.9 1961 1962 -9.6 4.6 8.3 9.9 5.8 9.3 10.0 7.2 6.4 7.4 8.2 5.7 2.7 4.9 6.2 5.6 5.8 6.7 8.0 7.4 8.0 8.6 8.5 9.4 9.7 9.4 9.7 10.3 9.7 10.4 10.4 10.5 10.1 10.8 11.1 11.6 11.9 12.3 11.6 11.0 10.1 10.5 10.6 10.5 10.6 10.5 9.2 9.5 9.7 9.5 9.6 1962 1963 21.0 18.6 17.2 10.1 13.5 13.6 9.8 8.6 9.4 10.1 7.3 3.8 6.1 7.5 6.7 6.8 7.8 9.0 8.3 9.0 9.6 9.4 10.3 10.6 10.2 10.5 11.1 10.5 11.2 11.2 11.2 10.8 11.5 11.8 12.3 12.6 12.9 12.2 11.6 10.6 11.1 11.1 11.0 11.1 10.9 9.6 10.0 10.1 9.9 10.0 1963 1964 16.2 15.3 6.7 11.7 12.2 8.0 7.0 8.1 9.0 6.0 2.4 4.9 6.5 5.8 5.9 7.0 8.4 7.7 8.4 9.1 8.9 9.8 10.1 9.8 10.1 10.7 10.1 10.9 10.8 10.9 10.5 11.2 11.5 12.1 12.4 12.7 12.0 11.3 10.3 10.8 10.9 10.7 10.9 10.7 9.4 9.8 9.9 9.7 9.8 1964 1965 14.5 2.2 10.2 11.2 6.4 5.5 6.9 8.1 4.9 1.1 4.0 5.7 5.0 5.2 6.4 7.9 7.2 7.9 8.7 8.5 9.5 9.8 9.5 9.8 10.5 9.8 10.7 10.7 10.7 10.3 11.1 11.4 11.9 12.3 12.6 11.9 11.2 10.2 10.7 10.7 10.6 10.7 10.6 9.2 9.6 9.8 9.6 9.7 1965 1966 -8.8 8.1 10.1 4.5 3.8 5.7 7.2 3.7 -0.3 3.0 5.0 4.3 4.6 5.8 7.5 6.8 7.6 8.4 8.2 9.3 9.6 9.3 9.6 10.4 9.7 10.5 10.5 10.5 10.2 10.9 11.3 11.8 12.2 12.6 11.8 11.1 10.1 10.6 10.6 10.5 10.6 10.5 9.1 9.5 9.7 9.5 9.6 1966 1967 28.2 21.0 9.4 7.2 8.9 10.2 5.7 0.8 4.4 6.4 5.5 5.8 7.0 8.7 7.9 8.7 9.5 9.2 10.3 10.6 10.2 10.6 11.3 10.5 11.4 11.3 11.3 10.9 11.7 12.0 12.6 12.9 13.3 12.5 11.7 10.7 11.2 11.2 11.1 11.2 11.0 9.6 10.0 10.1 9.9 10.0 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1968 14.2 1.0 1.0 4.6 6.9 2.3 -2.6 1.7 4.3 3.5 3.9 5.4 7.4 6.6 7.5 8.4 8.2 9.4 9.8 9.4 9.8 10.6 9.8 10.7 10.7 10.7 10.3 11.1 11.5 12.1 12.5 12.8 12.0 11.3 10.2 10.7 10.8 10.6 10.8 10.6 9.1 9.6 9.8 9.6 9.7 1968 1969 -10.6 -5.1 1.5 5.1 0.1 -5.2 0.1 3.1 2.4 2.9 4.7 6.8 6.0 7.0 8.0 7.8 9.2 9.6 9.1 9.6 10.4 9.6 10.6 10.6 10.6 10.2 11.0 11.4 12.0 12.4 12.8 12.0 11.2 10.1 10.6 10.7 10.6 10.7 10.5 9.0 9.5 9.7 9.4 9.6 1969 1970 0.9 8.2 11.0 3.0 -4.1 2.0 5.2 4.1 4.6 6.4 8.6 7.5 8.5 9.5 9.2 10.5 10.9 10.4 10.7 11.6 10.7 11.7 11.6 11.6 11.1 12.0 12.3 12.9 13.3 13.7 12.8 12.0 10.8 11.3 11.4 11.2 11.3 11.2 9.6 10.0 10.2 10.0 10.1 1970 1971 16.0 16.4 3.7 -5.2 2.2 5.9 4.6 5.1 7.0 9.4 8.1 9.2 10.2 9.8 11.2 11.5 10.9 11.3 12.2 11.2 12.2 12.1 12.1 11.5 12.4 12.8 13.4 13.8 14.1 13.2 12.3 11.1 11.7 11.7 11.5 11.6 11.5 9.8 10.3 10.4 10.2 10.3 1971 1972 16.8 -2.0 -11.4 -1.0 4.0 2.8 3.6 5.9 8.6 7.4 8.6 9.7 9.4 10.9 11.2 10.6 11.0 12.0 10.9 12.0 11.9 11.9 11.3 12.3 12.6 13.3 13.7 14.1 13.1 12.2 10.9 11.5 11.5 11.4 11.5 11.3 9.6 10.1 10.3 10.1 10.2 1972 1973 -17.8 -22.9 -6.3 1.1 0.2 1.5 4.4 7.7 6.4 7.8 9.1 8.8 10.4 10.8 10.2 10.7 11.7 10.6 11.8 11.7 11.7 11.1 12.1 12.5 13.2 13.6 14.0 13.0 12.1 10.8 11.4 11.4 11.2 11.3 11.2 9.5 9.9 10.1 9.9 10.0 1973 1974 -27.7 -0.1 8.2 5.3 5.9 8.7 11.9 9.9 11.1 12.2 11.6 13.2 13.4 12.6 12.9 13.8 12.6 13.7 13.5 13.4 12.7 13.7 14.0 14.7 15.1 15.4 14.3 13.3 11.9 12.5 12.5 12.3 12.4 12.2 10.3 10.8 11.0 10.7 10.8 1974 1975 38.1 32.4 19.4 16.5 17.9 20.3 16.6 17.2 17.9 16.5 17.9 17.8 16.5 16.6 17.3 15.7 16.8 16.4 16.1 15.2 16.2 16.4 17.0 17.3 17.6 16.4 15.2 13.7 14.2 14.2 13.9 13.9 13.7 11.7 12.2 12.3 12.0 12.1 1975 1976 27.0 10.9 10.0 13.3 17.1 13.4 14.5 15.5 14.3 16.0 16.1 14.8 15.0 16.0 14.4 15.5 15.2 15.0 14.1 15.2 15.5 16.1 16.5 16.8 15.6 14.4 12.8 13.5 13.4 13.2 13.2 13.0 11.0 11.5 11.7 11.4 11.5 1976 1977 -3.1 2.4 9.1 14.7 10.8 12.5 14.0 12.8 14.8 15.0 13.8 14.1 15.2 13.5 14.8 14.5 14.3 13.5 14.6 14.9 15.6 16.0 16.4 15.1 13.9 12.3 13.0 12.9 12.7 12.8 12.6 10.5 11.1 11.3 11.0 11.1 1977 1978 8.2 15.7 21.3 14.6 15.9 17.1 15.3 17.3 17.2 15.6 15.8 16.8 14.9 16.2 15.8 15.5 14.5 15.6 15.9 16.7 17.0 17.4 16.0 14.7 13.0 13.7 13.6 13.3 13.4 13.1 11.0 11.5 11.7 11.4 11.5 1978 1979 23.7 28.4 16.8 17.9 19.0 16.5 18.7 18.4 16.4 16.6 17.7 15.5 16.9 16.3 16.0 14.9 16.1 16.4 17.1 17.5 17.8 16.3 15.0 13.2 13.9 13.8 13.5 13.6 13.3 11.1 11.7 11.8 11.5 11.6 1979 1980 33.4 13.5 16.1 17.8 15.1 17.8 17.7 15.6 15.8 17.1 14.8 16.3 15.8 15.5 14.3 15.6 16.0 16.8 17.2 17.5 16.0 14.6 12.8 13.5 13.4 13.1 13.2 12.9 10.7 11.3 11.5 11.1 11.2 1980 1981 -3.3 8.3 13.1 11.0 15.0 15.2 13.2 13.8 15.4 13.0 14.9 14.4 14.2 13.1 14.5 15.0 15.9 16.3 16.7 15.2 13.8 11.9 12.7 12.7 12.4 12.5 12.2 10.0 10.6 10.8 10.5 10.6 1981 1982 21.3 22.3 16.2 20.1 19.4 16.3 16.5 18.0 15.0 16.9 16.2 15.8 14.5 15.9 16.3 17.2 17.6 18.0 16.3 14.7 12.7 13.5 13.4 13.1 13.2 12.9 10.5 11.1 11.3 11.0 11.1 1982 1983 23.2 13.8 19.6 18.9 15.3 15.7 17.5 14.3 16.4 15.7 15.3 13.9 15.5 15.9 16.9 17.4 17.8 16.0 14.4 12.3 13.1 13.1 12.8 12.9 12.6 10.1 10.7 11.0 10.6 10.8 1983 1984 5.0 17.9 17.5 13.4 14.3 16.6 13.0 15.5 14.9 14.5 13.1 14.9 15.4 16.5 17.0 17.5 15.6 13.9 11.7 12.6 12.6 12.3 12.4 12.1 9.6 10.3 10.6 10.2 10.4 1984 1985 32.4 24.2 16.3 16.7 19.0 14.4 17.1 16.2 15.6 14.0 15.9 16.3 17.4 17.9 18.3 16.3 14.5 12.1 13.1 13.0 12.7 12.8 12.5 9.8 10.5 10.8 10.4 10.6 1985 1986 16.6 9.0 11.9 15.9 11.2 14.8 14.1 13.7 12.1 14.3 14.9 16.2 16.8 17.4 15.3 13.4 11.0 12.1 12.1 11.8 11.9 11.6 8.9 9.7 10.0 9.6 9.8 1986 1987 2.0 9.6 15.7 9.8 14.4 13.7 13.3 11.5 14.1 14.8 16.2 16.9 17.5 15.2 13.2 10.7 11.8 11.8 11.5 11.7 11.4 8.6 9.4 9.7 9.4 9.6 1987 1988 17.9 23.3 12.6 17.8 16.2 15.3 13.0 15.7 16.3 17.7 18.3 18.8 16.2 14.1 11.3 12.5 12.4 12.1 12.2 11.9 8.9 9.7 10.1 9.7 9.9 1988 1989 28.9 10.1 17.7 15.7 14.8 12.2 15.4 16.1 17.7 18.4 18.9 16.1 13.8 10.8 12.1 12.1 11.7 11.9 11.6 8.5 9.4 9.7 9.3 9.6 1989 1990 -6.0 12.5 11.6 11.5 9.1 13.3 14.4 16.4 17.2 18.0 15.0 12.6 9.5 11.0 11.0 10.7 11.0 10.7 7.5 8.5 8.9 8.5 8.8 1990 1991 34.7 21.7 18.1 13.2 17.6 18.2 20.0 20.5 21.0 17.4 14.5 10.9 12.4 12.4 12.0 12.2 11.8 8.3 9.3 9.7 9.3 9.5 1991 1992 9.9 10.6 6.9 13.6 15.2 17.7 18.6 19.4 15.6 12.6 9.0 10.7 10.8 10.5 10.8 10.5 6.9 8.0 8.5 8.1 8.5 1992 MATR IX BOOK 2013 1993 11.3 5.4 14.9 16.5 19.3 20.1 20.8 16.3 12.9 8.9 10.8 10.9 10.5 10.9 10.5 6.7 7.9 8.5 8.0 8.4 1993 1994 -0.2 16.8 18.3 21.4 22.0 22.5 17.0 13.1 8.7 10.8 10.9 10.5 10.8 10.5 6.4 7.7 8.3 7.9 8.2 1994 1995 36.6 28.8 29.6 28.3 27.6 20.2 15.2 9.8 12.1 12.0 11.5 11.8 11.3 6.9 8.3 8.8 8.4 8.7 1995 1996 21.4 26.3 25.6 25.4 17.2 11.9 6.4 9.3 9.6 9.3 9.8 9.4 4.9 6.5 7.2 6.8 7.3 1996 1997 31.3 27.7 26.8 16.1 10.1 4.1 7.7 8.2 8.0 8.7 8.4 3.6 5.4 6.3 5.9 6.5 1997 1998 24.3 24.6 11.4 5.4 -0.6 4.2 5.2 5.4 6.4 6.3 1.4 3.5 4.5 4.3 5.0 1998 1999 24.9 5.5 -0.3 -6.0 0.6 2.4 2.9 4.4 4.5 -0.6 1.8 3.0 2.9 3.7 1999 2000 -10.8 -10.9 -14.5 -4.7 -1.6 -0.4 1.8 2.2 -3.1 -0.3 1.3 1.2 2.2 2000 2001 -10.9 -16.3 -2.6 0.8 1.9 4.0 4.2 -2.1 1.0 2.6 2.4 3.4 2001 2002 -21.3 1.8 5.1 5.4 7.3 7.0 -0.7 2.6 4.2 3.9 4.8 2002 2003 31.8 21.4 16.1 15.9 13.8 3.2 6.5 7.9 7.1 7.9 2003 2004 11.9 9.0 11.1 9.7 -1.8 2.8 4.8 4.4 5.5 2004 2005 6.2 10.7 8.9 -4.9 1.1 3.7 3.3 4.7 2005 2006 15.4 10.3 -8.3 -0.1 3.2 2.9 4.5 2006 2007 5.5 -18.3 -4.8 0.4 0.5 2.8 2007 2008 -36.7 -9.6 -1.2 -0.7 2.3 2008 2009 29.1 2010 23.3 17.8 2011 15.4 9.1 1.0 2012 15.3 11.0 7.8 15.1 2009 2010 2011 2012 13
  • 9. 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 14 1928 37.3 7.9 -7.5 -19.5 -17.3 -6.5 -4.9 0.4 3.8 -1.2 1.2 1.2 0.5 -0.1 1.0 2.8 4.1 6.0 5.3 5.2 5.0 5.6 6.7 7.2 7.4 7.1 8.5 9.0 9.0 8.2 9.4 9.5 9.2 9.7 9.1 9.4 9.6 9.8 9.3 9.9 10.1 9.5 9.2 9.4 9.5 8.7 7.8 8.4 8.9 8.7 8.8 9.1 9.5 9.3 9.6 9.9 9.7 10.1 10.2 10.0 10.2 10.4 10.1 10.4 10.5 10.5 10.4 10.7 10.9 11.1 11.2 11.3 11.1 10.9 10.4 10.7 10.8 10.7 10.8 10.7 9.9 10.2 10.3 10.1 10.2 1928 1929 -15.3 -24.1 -32.7 -27.1 -13.5 -10.6 -4.0 0.3 -4.8 -1.8 -1.6 -2.0 -2.6 -1.2 0.8 2.3 4.4 3.8 3.7 3.6 4.3 5.5 6.0 6.3 6.0 7.5 8.1 8.1 7.3 8.5 8.7 8.4 9.0 8.3 8.7 8.9 9.2 8.7 9.3 9.5 8.9 8.6 8.8 8.9 8.1 7.2 7.9 8.4 8.2 8.3 8.6 9.0 8.9 9.1 9.4 9.3 9.7 9.8 9.6 9.8 10.0 9.7 10.1 10.1 10.2 10.0 10.4 10.5 10.8 10.9 11.0 10.8 10.6 10.1 10.4 10.5 10.4 10.5 10.4 9.6 9.9 10.0 9.9 9.9 1929 1930 -32.1 -40.0 -30.7 -13.0 -9.6 -2.0 2.7 -3.4 -0.2 -0.1 -0.7 -1.4 0.0 2.1 3.6 5.8 5.0 4.9 4.7 5.4 6.6 7.1 7.4 7.0 8.6 9.1 9.1 8.3 9.5 9.6 9.3 9.8 9.1 9.5 9.7 9.9 9.4 10.0 10.3 9.5 9.3 9.5 9.6 8.7 7.8 8.4 8.9 8.8 8.8 9.2 9.6 9.4 9.6 9.9 9.8 10.2 10.3 10.1 10.3 10.5 10.1 10.5 10.6 10.6 10.5 10.8 10.9 11.2 11.3 11.4 11.2 11.0 10.5 10.8 10.8 10.8 10.9 10.8 10.0 10.2 10.3 10.2 10.3 1930 1931 -46.9 -30.0 -5.5 -2.9 5.4 10.0 1.6 4.7 4.2 3.1 2.0 3.3 5.4 6.7 8.9 7.9 7.6 7.2 7.9 9.0 9.5 9.6 9.2 10.7 11.2 11.1 10.1 11.3 11.4 11.0 11.5 10.8 11.1 11.2 11.4 10.9 11.5 11.7 10.9 10.6 10.7 10.8 9.9 8.9 9.6 10.1 9.9 9.9 10.2 10.6 10.4 10.7 10.9 10.8 11.2 11.2 11.0 11.2 11.4 11.0 11.4 11.4 11.5 11.3 11.6 11.8 12.0 12.1 12.2 12.0 11.7 11.2 11.5 11.6 11.5 11.6 11.5 10.7 10.9 11.0 10.9 10.9 1931 1932 -7.7 26.1 18.8 25.2 27.3 13.2 15.4 13.4 11.0 8.9 9.7 11.6 12.6 14.7 13.1 12.5 11.7 12.2 13.2 13.5 13.5 12.8 14.3 14.7 14.4 13.3 14.4 14.4 13.9 14.3 13.4 13.6 13.7 13.9 13.2 13.8 13.9 13.1 12.7 12.8 12.8 11.8 10.8 11.4 11.8 11.6 11.6 11.9 12.3 12.0 12.3 12.5 12.3 12.7 12.7 12.5 12.6 12.9 12.4 12.8 12.8 12.8 12.6 12.9 13.1 13.3 13.4 13.5 13.2 12.9 12.4 12.7 12.7 12.6 12.7 12.6 11.7 12.0 12.1 11.9 12.0 1932 1933 72.2 34.7 38.6 38.0 17.9 19.8 16.8 13.6 10.9 11.6 13.5 14.5 16.6 14.8 14.0 13.1 13.5 14.5 14.8 14.7 13.9 15.4 15.8 15.4 14.2 15.4 15.3 14.7 15.2 14.2 14.4 14.5 14.6 13.9 14.5 14.6 13.7 13.3 13.4 13.4 12.4 11.2 11.9 12.3 12.1 12.1 12.4 12.7 12.5 12.7 13.0 12.8 13.1 13.2 12.9 13.0 13.3 12.8 13.2 13.2 13.2 13.0 13.3 13.4 13.7 13.7 13.8 13.6 13.3 12.7 13.0 13.0 13.0 13.0 12.9 12.0 12.2 12.3 12.2 12.2 1933 Dimensional US Adjusted Market 1 Index 1934 5.4 24.3 28.1 7.3 11.4 9.5 7.0 4.9 6.4 8.9 10.3 12.9 11.2 10.6 9.9 10.6 11.8 12.2 12.2 11.6 13.2 13.7 13.4 12.3 13.6 13.5 13.0 13.5 12.6 12.9 13.0 13.2 12.5 13.1 13.3 12.4 12.0 12.1 12.2 11.2 10.1 10.7 11.2 11.0 11.0 11.3 11.7 11.5 11.7 12.0 11.8 12.2 12.3 12.0 12.2 12.4 12.0 12.4 12.4 12.4 12.2 12.5 12.7 12.9 13.0 13.1 12.9 12.6 12.0 12.3 12.4 12.3 12.4 12.2 11.4 11.6 11.7 11.5 11.6 1934 1935 46.7 41.3 7.9 13.0 10.3 7.3 4.9 6.5 9.3 10.8 13.6 11.8 11.1 10.3 10.9 12.2 12.6 12.6 11.9 13.7 14.1 13.8 12.6 13.9 13.9 13.3 13.8 12.9 13.1 13.3 13.5 12.7 13.3 13.5 12.6 12.2 12.3 12.4 11.3 10.2 10.9 11.4 11.1 11.1 11.5 11.9 11.6 11.9 12.2 12.0 12.3 12.4 12.2 12.3 12.5 12.1 12.5 12.5 12.5 12.3 12.7 12.8 13.1 13.1 13.3 13.0 12.7 12.1 12.4 12.5 12.4 12.5 12.3 11.4 11.7 11.8 11.6 11.7 1935 1928–2012: Total Returns (%) 1936 36.1 -7.5 3.6 2.8 0.8 -0.8 1.8 5.3 7.5 10.7 9.0 8.5 7.9 8.7 10.2 10.8 10.9 10.2 12.1 12.7 12.5 11.2 12.7 12.7 12.2 12.7 11.8 12.1 12.3 12.5 11.8 12.4 12.7 11.7 11.4 11.5 11.6 10.5 9.4 10.1 10.6 10.4 10.4 10.8 11.2 11.0 11.2 11.5 11.4 11.7 11.8 11.6 11.7 12.0 11.6 12.0 12.0 12.0 11.8 12.2 12.3 12.6 12.7 12.8 12.5 12.2 11.7 12.0 12.0 12.0 12.0 11.9 11.0 11.3 11.4 11.2 11.3 1936 1937 -37.1 -9.6 -6.4 -6.5 -6.9 -3.0 1.5 4.3 8.2 6.6 6.3 5.8 6.9 8.6 9.3 9.5 8.9 10.9 11.6 11.4 10.2 11.7 11.8 11.3 11.9 10.9 11.3 11.5 11.7 11.0 11.7 12.0 11.1 10.7 10.9 10.9 9.9 8.7 9.5 10.1 9.8 9.9 10.3 10.7 10.5 10.7 11.1 10.9 11.3 11.4 11.1 11.3 11.6 11.2 11.6 11.6 11.6 11.4 11.8 12.0 12.2 12.3 12.5 12.2 11.9 11.3 11.7 11.7 11.7 11.7 11.6 10.7 11.0 11.1 10.9 11.0 1937 GROWTH OF $1 1938 29.9 14.1 6.7 2.7 5.7 9.9 12.1 15.8 13.1 12.0 10.9 11.7 13.2 13.7 13.6 12.7 14.7 15.2 14.8 13.3 14.8 14.7 14.1 14.6 13.5 13.8 13.9 14.1 13.2 13.9 14.1 13.0 12.6 12.7 12.7 11.6 10.4 11.1 11.6 11.4 11.4 11.7 12.2 11.9 12.1 12.4 12.2 12.6 12.7 12.4 12.6 12.8 12.4 12.8 12.8 12.8 12.6 12.9 13.0 13.3 13.4 13.5 13.2 12.9 12.3 12.6 12.7 12.6 12.7 12.5 11.6 11.9 12.0 11.8 11.9 1938 $100,000 1939 0.2 -3.3 -5.1 0.4 6.3 9.4 13.9 11.1 10.2 9.2 10.2 11.9 12.5 12.5 11.6 13.8 14.3 14.0 12.5 14.1 14.0 13.4 14.0 12.8 13.2 13.3 13.5 12.7 13.4 13.6 12.5 12.1 12.2 12.3 11.1 9.9 10.7 11.2 10.9 10.9 11.3 11.8 11.5 11.8 12.1 11.9 12.3 12.3 12.1 12.3 12.5 12.0 12.5 12.5 12.5 12.3 12.6 12.8 13.1 13.1 13.3 13.0 12.7 12.1 12.4 12.4 12.4 12.4 12.3 11.3 11.6 11.7 11.6 11.6 1939 1940 -6.7 -7.6 0.5 7.9 11.4 16.3 12.8 11.5 10.3 11.2 13.1 13.6 13.5 12.5 14.8 15.3 14.9 13.2 14.9 14.8 14.1 14.6 13.4 13.7 13.9 14.1 13.2 13.9 14.1 13.0 12.5 12.6 12.7 11.5 10.2 11.0 11.5 11.2 11.2 11.6 12.1 11.8 12.0 12.4 12.2 12.6 12.6 12.3 12.5 12.8 12.3 12.7 12.7 12.7 12.5 12.9 13.0 13.3 13.4 13.5 13.2 12.9 12.3 12.6 12.6 12.6 12.6 12.5 11.5 11.8 11.9 11.7 11.8 1940 $3,925 $10,000 1941 -8.6 4.2 13.3 16.4 21.6 16.4 14.4 12.6 13.4 15.3 15.6 15.4 14.1 16.5 16.9 16.4 14.5 16.2 16.0 15.2 15.8 14.4 14.7 14.8 15.0 14.0 14.7 14.9 13.7 13.2 13.3 13.3 12.1 10.7 11.5 12.1 11.8 11.7 12.1 12.6 12.3 12.5 12.9 12.6 13.0 13.1 12.8 13.0 13.2 12.7 13.1 13.1 13.1 12.9 13.3 13.4 13.7 13.7 13.9 13.6 13.2 12.6 12.9 13.0 12.9 12.9 12.8 11.8 12.1 12.2 12.0 12.1 1941 1942 18.8 26.1 26.1 30.6 22.1 18.7 16.0 16.5 18.3 18.4 17.9 16.2 18.7 19.0 18.3 16.1 17.9 17.6 16.6 17.2 15.7 15.9 15.9 16.1 15.0 15.7 15.9 14.6 14.1 14.1 14.1 12.8 11.3 12.2 12.7 12.4 12.4 12.7 13.2 12.9 13.1 13.4 13.2 13.6 13.6 13.3 13.5 13.7 13.2 13.6 13.6 13.6 13.3 13.7 13.8 14.1 14.2 14.3 14.0 13.6 13.0 13.3 13.3 13.3 13.3 13.1 12.1 12.4 12.5 12.3 12.4 1942 $1,000 1943 33.8 30.0 34.7 23.0 18.7 15.5 16.2 18.2 18.3 17.8 16.0 18.7 19.0 18.2 16.0 17.8 17.5 16.5 17.1 15.5 15.8 15.8 16.0 14.9 15.6 15.8 14.5 13.9 14.0 14.0 12.6 11.1 12.0 12.5 12.2 12.2 12.6 13.0 12.7 13.0 13.3 13.0 13.5 13.5 13.2 13.3 13.6 13.1 13.5 13.5 13.5 13.2 13.6 13.8 14.1 14.1 14.2 13.9 13.5 12.9 13.2 13.3 13.2 13.2 13.1 12.0 12.3 12.4 12.2 12.3 1943 1944 26.2 35.2 19.6 15.2 12.1 13.5 16.1 16.5 16.1 14.3 17.4 17.9 17.1 14.8 16.8 16.6 15.6 16.2 14.6 14.9 15.0 15.2 14.1 14.9 15.1 13.8 13.2 13.3 13.3 12.0 10.4 11.3 12.0 11.6 11.6 12.0 12.5 12.2 12.5 12.8 12.6 13.0 13.1 12.8 12.9 13.2 12.7 13.1 13.1 13.1 12.9 13.3 13.4 13.7 13.8 13.9 13.6 13.2 12.6 12.9 13.0 12.9 12.9 12.8 11.7 12.0 12.1 11.9 12.0 1944 $100 1945 44.8 16.4 11.8 8.9 11.1 14.5 15.2 14.9 13.1 16.5 17.1 16.4 13.9 16.1 16.0 14.9 15.6 14.0 14.4 14.5 14.7 13.6 14.4 14.7 13.3 12.7 12.9 12.9 11.5 10.0 10.9 11.5 11.2 11.2 11.7 12.2 11.8 12.1 12.5 12.3 12.7 12.8 12.5 12.6 12.9 12.4 12.9 12.9 12.9 12.6 13.0 13.2 13.5 13.5 13.7 13.4 13.0 12.3 12.7 12.7 12.7 12.7 12.6 11.5 11.8 11.9 11.7 11.8 1945 1946 -6.5 -1.8 -1.0 4.0 9.3 10.9 11.2 9.6 13.8 14.7 14.1 11.7 14.2 14.1 13.2 14.0 12.4 12.9 13.1 13.4 12.3 13.2 13.5 12.2 11.6 11.8 11.9 10.5 8.9 9.9 10.6 10.3 10.3 10.8 11.4 11.0 11.4 11.8 11.5 12.0 12.1 11.8 12.0 12.3 11.8 12.2 12.3 12.3 12.0 12.5 12.6 13.0 13.0 13.2 12.9 12.5 11.8 12.2 12.3 12.2 12.2 12.1 11.1 11.4 11.5 11.3 11.4 1946 $10 1947 3.1 1.9 7.7 13.6 14.7 14.4 12.1 16.6 17.3 16.4 13.5 16.1 15.9 14.7 15.5 13.7 14.1 14.3 14.5 13.3 14.3 14.5 13.0 12.4 12.6 12.6 11.1 9.5 10.5 11.2 10.9 10.9 11.4 11.9 11.6 11.9 12.3 12.0 12.5 12.6 12.3 12.5 12.8 12.2 12.7 12.7 12.7 12.5 12.9 13.0 13.4 13.4 13.6 13.3 12.9 12.2 12.6 12.6 12.5 12.6 12.4 11.4 11.7 11.8 11.6 11.7 1947 1948 0.7 10.1 17.4 17.8 16.8 13.7 18.7 19.2 17.9 14.6 17.4 17.0 15.7 16.5 14.5 14.8 15.0 15.2 13.9 14.8 15.1 13.5 12.9 13.0 13.0 11.5 9.8 10.8 11.5 11.2 11.2 11.6 12.2 11.8 12.2 12.6 12.3 12.8 12.8 12.5 12.7 13.0 12.4 12.9 12.9 13.0 12.7 13.1 13.3 13.6 13.7 13.8 13.5 13.1 12.4 12.8 12.8 12.7 12.8 12.6 11.5 11.8 12.0 11.7 11.8 1948 $1 1949 20.4 26.7 24.2 21.2 16.5 21.9 22.1 20.3 16.3 19.2 18.6 17.0 17.8 15.5 15.9 15.9 16.1 14.6 15.6 15.9 14.2 13.5 13.6 13.6 11.9 10.1 11.2 11.9 11.6 11.5 12.0 12.6 12.2 12.5 12.9 12.6 13.1 13.2 12.8 13.0 13.3 12.7 13.2 13.2 13.3 12.9 13.4 13.5 13.9 13.9 14.1 13.7 13.3 12.6 13.0 13.0 12.9 13.0 12.8 11.7 12.0 12.1 11.9 12.0 1949 1950 33.3 26.1 21.5 15.6 22.3 22.4 20.3 15.8 19.1 18.5 16.7 17.6 15.2 15.5 15.6 15.9 14.3 15.4 15.6 13.9 13.1 13.3 13.3 11.6 9.7 10.9 11.6 11.3 11.2 11.7 12.3 12.0 12.3 12.7 12.4 12.9 13.0 12.6 12.8 13.2 12.5 13.1 13.1 13.1 12.8 13.2 13.4 13.7 13.8 14.0 13.6 13.2 12.5 12.9 12.9 12.8 12.9 12.7 11.6 11.9 12.0 11.8 11.9 1950 1951 19.3 16.0 10.2 19.6 20.3 18.2 13.4 17.4 16.9 15.2 16.2 13.8 14.3 14.5 14.8 13.2 14.4 14.7 12.9 12.2 12.4 12.5 10.7 8.8 10.0 10.9 10.5 10.5 11.1 11.7 11.3 11.7 12.1 11.9 12.4 12.5 12.1 12.3 12.7 12.1 12.6 12.6 12.7 12.4 12.8 13.0 13.4 13.4 13.6 13.2 12.8 12.1 12.5 12.5 12.5 12.5 12.4 11.2 11.6 11.7 11.5 11.6 1951 $0 1928 1952 12.9 5.9 19.7 20.6 18.0 12.5 17.1 16.6 14.7 15.9 13.3 13.9 14.1 14.5 12.8 14.1 14.5 12.6 11.8 12.1 12.1 10.3 8.4 9.7 10.5 10.2 10.2 10.8 11.4 11.1 11.5 11.9 11.6 12.2 12.3 11.9 12.2 12.5 11.9 12.4 12.5 12.5 12.2 12.7 12.9 13.2 13.3 13.5 13.1 12.7 12.0 12.4 12.4 12.3 12.4 12.2 11.1 11.4 11.6 11.4 11.4 1952 D I M E N S I O N A L F U N D A D VI S O R S 1953 -0.6 23.3 23.2 19.4 12.4 17.8 17.2 14.9 16.3 13.3 14.0 14.2 14.6 12.8 14.2 14.6 12.6 11.8 12.0 12.1 10.2 8.2 9.5 10.4 10.1 10.1 10.7 11.4 11.0 11.4 11.9 11.6 12.2 12.3 11.9 12.1 12.5 11.9 12.4 12.5 12.5 12.2 12.7 12.9 13.2 13.3 13.5 13.1 12.7 11.9 12.4 12.4 12.3 12.4 12.2 11.1 11.4 11.5 11.3 11.4 1953 2012 Index data compiled by Dimensional. 1954 53.1 37.3 26.9 15.9 21.9 20.4 17.4 18.6 15.0 15.5 15.7 16.0 13.9 15.3 15.6 13.4 12.6 12.8 12.8 10.8 8.7 10.0 10.9 10.5 10.6 11.2 11.9 11.4 11.9 12.3 12.0 12.6 12.7 12.3 12.5 12.9 12.2 12.8 12.8 12.8 12.5 13.0 13.2 13.6 13.6 13.8 13.4 13.0 12.2 12.6 12.7 12.6 12.7 12.5 11.3 11.6 11.8 11.5 11.6 1954 1955 23.1 15.5 5.7 15.2 14.8 12.3 14.3 10.9 12.0 12.5 13.1 11.2 12.9 13.3 11.2 10.4 10.8 10.9 8.9 6.8 8.3 9.3 9.0 9.1 9.8 10.5 10.1 10.6 11.1 10.9 11.5 11.6 11.3 11.5 11.9 11.3 11.9 11.9 12.0 11.6 12.2 12.4 12.8 12.9 13.1 12.7 12.3 11.5 11.9 12.0 11.9 12.0 11.8 10.6 11.0 11.1 10.9 11.0 1955 1956 8.4 -2.1 12.7 12.8 10.2 13.0 9.3 10.7 11.3 12.1 10.1 12.0 12.6 10.4 9.6 10.1 10.3 8.2 6.0 7.6 8.7 8.4 8.5 9.2 10.1 9.7 10.2 10.7 10.5 11.1 11.3 10.9 11.2 11.6 10.9 11.6 11.6 11.7 11.4 11.9 12.1 12.6 12.6 12.9 12.5 12.0 11.2 11.7 11.8 11.7 11.8 11.6 10.4 10.8 10.9 10.7 10.8 1956 1957 -11.5 14.9 14.3 10.7 13.9 9.4 11.0 11.7 12.5 10.3 12.4 13.0 10.6 9.7 10.2 10.4 8.2 5.9 7.6 8.7 8.4 8.5 9.3 10.1 9.7 10.2 10.8 10.5 11.2 11.4 11.0 11.3 11.7 11.0 11.7 11.7 11.8 11.5 12.0 12.2 12.7 12.8 13.0 12.6 12.1 11.3 11.8 11.9 11.8 11.9 11.7 10.4 10.8 11.0 10.8 10.9 1957 1958 49.1 29.9 19.3 21.3 14.2 15.3 15.5 16.0 13.0 15.1 15.5 12.6 11.5 11.9 12.0 9.6 7.0 8.7 9.9 9.5 9.6 10.3 11.2 10.7 11.2 11.8 11.5 12.1 12.2 11.8 12.1 12.5 11.8 12.4 12.5 12.5 12.1 12.7 12.9 13.3 13.4 13.6 13.2 12.7 11.9 12.4 12.4 12.3 12.4 12.2 10.9 11.3 11.5 11.2 11.3 1958 1959 13.3 6.7 13.3 6.8 9.5 10.7 11.9 9.2 11.8 12.6 9.8 8.9 9.5 9.7 7.3 4.8 6.7 8.1 7.7 7.9 8.8 9.7 9.3 9.9 10.5 10.2 11.0 11.1 10.7 11.0 11.5 10.8 11.5 11.5 11.6 11.3 11.9 12.1 12.6 12.6 12.9 12.4 12.0 11.2 11.7 11.7 11.6 11.7 11.6 10.3 10.7 10.8 10.6 10.7 1959 1960 0.5 13.3 4.8 8.6 10.2 11.7 8.6 11.7 12.6 9.4 8.5 9.2 9.5 6.9 4.3 6.4 7.8 7.4 7.6 8.5 9.5 9.1 9.7 10.4 10.1 10.9 11.0 10.6 11.0 11.4 10.7 11.4 11.5 11.6 11.2 11.8 12.1 12.5 12.6 12.9 12.4 12.0 11.1 11.6 11.7 11.6 11.7 11.5 10.2 10.6 10.8 10.6 10.7 1960 1961 27.6 7.0 11.4 12.8 14.0 10.0 13.3 14.2 10.5 9.3 10.0 10.3 7.4 4.5 6.8 8.3 7.9 8.0 9.0 10.0 9.5 10.2 10.8 10.5 11.3 11.5 11.0 11.4 11.8 11.1 11.8 11.9 11.9 11.5 12.2 12.4 12.9 13.0 13.2 12.7 12.3 11.4 11.9 12.0 11.9 12.0 11.8 10.4 10.8 11.0 10.8 10.9 1961 1962 -10.3 4.1 8.2 10.9 6.8 11.1 12.4 8.5 7.5 8.4 8.8 5.9 2.9 5.4 7.1 6.7 7.0 8.0 9.2 8.7 9.4 10.1 9.8 10.7 10.9 10.4 10.8 11.3 10.5 11.3 11.4 11.5 11.1 11.7 12.0 12.5 12.6 12.8 12.4 11.9 11.0 11.5 11.6 11.5 11.6 11.4 10.1 10.5 10.7 10.5 10.6 1962 1963 20.7 18.8 19.0 11.6 16.0 16.7 11.5 9.9 10.7 10.9 7.5 4.1 6.7 8.4 8.0 8.1 9.2 10.4 9.8 10.5 11.2 10.8 11.7 11.8 11.4 11.7 12.2 11.4 12.1 12.2 12.2 11.8 12.5 12.7 13.2 13.3 13.5 13.1 12.5 11.6 12.1 12.2 12.1 12.2 12.0 10.6 11.0 11.2 10.9 11.0 1963 1964 17.0 18.1 8.7 14.8 15.9 10.0 8.5 9.5 9.9 6.3 2.7 5.6 7.5 7.1 7.4 8.5 9.8 9.2 10.0 10.8 10.4 11.3 11.5 11.0 11.4 11.9 11.0 11.8 11.9 12.0 11.6 12.2 12.5 13.0 13.1 13.4 12.9 12.3 11.4 11.9 12.0 11.9 12.0 11.8 10.4 10.8 11.0 10.7 10.9 1964 1965 19.3 4.8 14.1 15.6 8.7 7.1 8.4 9.0 5.1 1.4 4.6 6.8 6.4 6.7 8.0 9.3 8.8 9.6 10.4 10.1 11.0 11.2 10.7 11.1 11.7 10.8 11.7 11.7 11.8 11.4 12.1 12.4 12.9 13.0 13.3 12.7 12.2 11.2 11.8 11.9 11.8 11.9 11.7 10.2 10.7 10.9 10.6 10.7 1965 1966 -7.9 11.6 14.4 6.2 4.8 6.7 7.6 3.5 -0.4 3.3 5.7 5.4 5.8 7.2 8.7 8.2 9.0 10.0 9.6 10.6 10.9 10.4 10.8 11.4 10.5 11.4 11.4 11.5 11.1 11.8 12.1 12.7 12.8 13.1 12.6 12.0 11.0 11.6 11.7 11.6 11.7 11.5 10.0 10.5 10.7 10.4 10.6 1966 1967 35.3 27.4 11.4 8.2 9.9 10.5 5.2 0.6 4.6 7.2 6.7 7.0 8.5 10.0 9.3 10.2 11.1 10.7 11.7 11.9 11.3 11.7 12.3 11.3 12.2 12.3 12.3 11.9 12.6 12.9 13.4 13.5 13.8 13.2 12.7 11.6 12.2 12.3 12.1 12.2 12.0 10.5 10.9 11.1 10.9 11.0 1967 1968 20.0 1.0 0.5 4.3 6.1 0.9 -3.6 1.3 4.4 4.2 4.8 6.5 8.3 7.7 8.7 9.8 9.4 10.5 10.8 10.2 10.7 11.4 10.4 11.4 11.4 11.5 11.1 11.9 12.2 12.8 12.9 13.2 12.6 12.0 11.0 11.6 11.7 11.6 11.7 11.5 9.9 10.4 10.6 10.4 10.5 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1969 -14.9 -8.1 -0.4 2.9 -2.5 -7.0 -1.1 2.6 2.6 3.3 5.3 7.3 6.8 7.9 9.1 8.7 10.0 10.3 9.7 10.3 11.0 9.9 11.0 11.1 11.2 10.7 11.6 11.9 12.5 12.7 13.0 12.4 11.8 10.7 11.4 11.5 11.4 11.5 11.3 9.7 10.2 10.4 10.1 10.3 1969 1970 -0.6 7.7 9.6 0.8 -5.4 1.4 5.4 5.0 5.6 7.6 9.6 8.8 9.9 11.1 10.5 11.8 12.0 11.3 11.8 12.5 11.3 12.3 12.4 12.5 11.9 12.7 13.1 13.7 13.8 14.0 13.4 12.8 11.6 12.3 12.3 12.2 12.3 12.1 10.4 10.9 11.1 10.8 11.0 1970 1971 16.8 15.1 1.3 -6.5 1.8 6.5 5.8 6.4 8.6 10.7 9.7 10.9 12.0 11.4 12.6 12.8 12.0 12.5 13.2 11.9 13.0 13.0 13.1 12.5 13.3 13.6 14.2 14.3 14.6 13.9 13.2 12.0 12.7 12.7 12.6 12.7 12.4 10.7 11.2 11.4 11.1 11.3 1971 1972 13.4 -5.6 -13.2 -1.6 4.5 4.1 5.0 7.6 10.0 9.1 10.3 11.6 11.0 12.4 12.6 11.8 12.3 13.0 11.7 12.8 12.8 12.9 12.3 13.2 13.5 14.1 14.2 14.5 13.8 13.1 11.9 12.6 12.6 12.5 12.6 12.3 10.6 11.1 11.3 11.0 11.1 1972 1973 -21.4 -24.1 -6.2 2.4 2.3 3.7 6.8 9.6 8.6 10.0 11.5 10.8 12.3 12.5 11.7 12.2 13.0 11.6 12.8 12.8 12.9 12.2 13.2 13.5 14.2 14.2 14.5 13.8 13.1 11.8 12.5 12.6 12.4 12.6 12.3 10.5 11.0 11.2 10.9 11.1 1973 1974 -26.6 2.5 11.9 9.3 9.6 12.4 15.0 13.1 14.2 15.4 14.3 15.7 15.6 14.5 14.9 15.6 13.9 15.1 15.0 14.9 14.2 15.1 15.3 15.9 16.0 16.2 15.4 14.6 13.2 13.9 13.9 13.7 13.8 13.5 11.6 12.1 12.3 11.9 12.1 1974 1975 43.1 38.2 24.8 21.1 22.4 23.9 20.3 20.7 21.4 19.5 20.5 20.1 18.5 18.6 19.1 17.1 18.2 17.9 17.7 16.7 17.5 17.7 18.3 18.2 18.4 17.4 16.5 15.0 15.6 15.6 15.3 15.4 15.0 12.9 13.4 13.6 13.2 13.3 1975 1976 33.4 16.5 14.6 17.7 20.4 16.8 17.8 18.9 17.1 18.5 18.2 16.6 16.9 17.6 15.5 16.7 16.6 16.4 15.5 16.4 16.6 17.3 17.2 17.4 16.5 15.6 14.0 14.8 14.8 14.5 14.6 14.2 12.1 12.7 12.9 12.5 12.6 1976 1977 1.8 6.1 12.9 17.3 13.8 15.4 17.0 15.2 16.9 16.8 15.2 15.6 16.4 14.3 15.7 15.6 15.5 14.5 15.6 15.8 16.5 16.5 16.8 15.8 14.9 13.3 14.1 14.1 13.9 14.0 13.6 11.5 12.1 12.3 11.9 12.1 1977 1978 10.7 18.9 23.0 17.0 18.3 19.7 17.3 19.0 18.6 16.6 17.0 17.7 15.4 16.8 16.6 16.4 15.3 16.4 16.6 17.3 17.3 17.5 16.5 15.5 13.8 14.6 14.6 14.4 14.4 14.0 11.9 12.4 12.7 12.3 12.4 1978 1979 27.7 29.7 19.2 20.3 21.6 18.4 20.2 19.6 17.3 17.6 18.4 15.8 17.3 17.0 16.8 15.6 16.7 17.0 17.7 17.6 17.8 16.8 15.7 14.0 14.8 14.8 14.5 14.6 14.2 11.9 12.5 12.7 12.3 12.4 1979 1980 31.7 15.1 18.0 20.2 16.6 19.0 18.5 16.1 16.6 17.5 14.7 16.4 16.2 16.0 14.9 16.1 16.4 17.2 17.1 17.4 16.3 15.2 13.4 14.3 14.3 14.0 14.1 13.7 11.4 12.0 12.3 11.8 12.0 1980 1981 0.6 11.6 16.5 13.1 16.6 16.4 14.0 14.8 16.0 13.2 15.1 15.0 14.9 13.8 15.1 15.5 16.3 16.4 16.7 15.5 14.5 12.6 13.6 13.6 13.4 13.5 13.1 10.7 11.4 11.7 11.3 11.4 1981 1982 23.9 25.4 17.6 21.0 19.9 16.4 17.0 18.1 14.7 16.7 16.4 16.2 14.8 16.2 16.5 17.4 17.4 17.6 16.4 15.2 13.2 14.2 14.2 13.9 14.0 13.6 11.1 11.8 12.1 11.6 11.8 1982 1983 27.0 14.6 20.1 18.9 15.0 15.9 17.3 13.6 15.9 15.7 15.5 14.1 15.6 16.0 17.0 17.0 17.3 16.0 14.8 12.7 13.8 13.8 13.5 13.6 13.2 10.6 11.4 11.7 11.2 11.4 1983 1984 3.4 16.8 16.3 12.2 13.8 15.8 11.8 14.6 14.5 14.4 13.0 14.7 15.2 16.3 16.3 16.7 15.4 14.1 12.0 13.1 13.2 12.9 13.1 12.7 10.0 10.8 11.2 10.7 10.9 1984 1985 31.9 23.4 15.2 16.5 18.4 13.2 16.3 15.9 15.7 14.0 15.8 16.3 17.4 17.3 17.6 16.2 14.8 12.5 13.7 13.7 13.4 13.5 13.1 10.3 11.1 11.5 11.0 11.2 1985 1986 15.5 7.7 11.8 15.3 9.8 13.9 13.8 13.9 12.2 14.3 14.9 16.2 16.3 16.7 15.2 13.8 11.5 12.7 12.8 12.6 12.7 12.3 9.5 10.3 10.7 10.3 10.5 1986 1987 0.5 10.1 15.3 8.4 13.6 13.6 13.6 11.8 14.2 14.9 16.3 16.3 16.8 15.2 13.7 11.2 12.6 12.7 12.4 12.6 12.2 9.2 10.1 10.5 10.1 10.3 1987 1988 20.6 23.5 11.3 17.1 16.4 16.0 13.5 16.1 16.6 18.0 17.9 18.2 16.4 14.7 12.0 13.4 13.5 13.1 13.3 12.8 9.6 10.6 11.0 10.5 10.7 1988 1989 26.4 6.9 16.0 15.3 15.1 12.4 15.4 16.1 17.7 17.6 18.0 16.0 14.2 11.4 12.9 13.0 12.7 12.9 12.4 9.1 10.1 10.6 10.1 10.3 1989 1990 -9.7 11.1 11.9 12.4 9.8 13.7 14.7 16.7 16.7 17.2 15.1 13.3 10.3 12.0 12.2 11.9 12.1 11.6 8.3 9.4 9.9 9.4 9.7 1990 1991 36.6 24.5 20.9 15.3 19.0 19.4 21.0 20.5 20.7 18.0 15.6 12.2 13.9 13.9 13.5 13.7 13.0 9.4 10.5 10.9 10.4 10.7 1991 1992 13.5 13.7 8.9 15.0 16.2 18.6 18.3 18.8 16.1 13.7 10.2 12.2 12.4 12.0 12.3 11.7 8.0 9.2 9.7 9.2 9.6 1992 1993 14.0 6.7 15.5 16.9 19.7 19.1 19.6 16.4 13.8 9.8 12.0 12.3 11.9 12.2 11.6 7.6 8.9 9.5 9.0 9.4 1993 MATR IX BOOK 2013 1994 -0.2 16.3 17.9 21.1 20.2 20.5 16.7 13.7 9.4 11.8 12.1 11.7 12.0 11.4 7.2 8.6 9.3 8.7 9.1 1994 1995 35.4 28.2 29.2 25.9 25.2 19.8 15.9 10.7 13.3 13.4 12.8 13.1 12.4 7.8 9.2 9.9 9.2 9.7 1995 1996 21.3 26.2 22.9 22.7 16.9 12.9 7.5 10.8 11.2 10.8 11.3 10.6 5.9 7.6 8.4 7.8 8.3 1996 1997 31.2 23.7 23.2 15.8 11.3 5.4 9.3 10.0 9.7 10.3 9.7 4.7 6.6 7.5 6.9 7.5 1997 1998 16.5 19.4 11.1 6.8 0.8 6.1 7.3 7.3 8.2 7.8 2.6 4.7 5.9 5.4 6.1 1998 1999 22.2 8.5 3.7 -2.8 4.1 5.8 6.0 7.2 6.8 1.3 3.7 5.0 4.6 5.4 1999 2000 -3.7 -4.4 -9.9 0.0 2.8 3.5 5.2 5.0 -0.8 2.0 3.6 3.2 4.2 2000 2001 -5.2 2002 -12.8 -19.9 2003 1.2 4.6 36.6 2004 4.4 7.9 25.1 14.7 2005 5.0 7.7 18.9 11.0 7.4 2006 6.8 9.4 18.2 12.7 11.7 16.2 2007 6.4 8.4 15.2 10.4 9.0 9.8 3.7 2008 -0.5 0.2 4.0 -1.5 -5.2 -9.0 -19.5 -37.5 2009 2.7 3.7 7.6 3.5 1.3 -0.1 -5.0 -9.1 32.2 2010 4.3 5.5 9.1 5.7 4.3 3.7 0.8 -0.2 26.1 20.4 2011 3.9 4.8 8.0 4.9 3.5 2.9 0.4 -0.3 16.4 9.3 -0.8 2012 4.9 5.9 8.9 6.2 5.1 4.8 3.0 2.9 16.6 11.8 7.8 17.1 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 15
  • 10. 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 16 1928 35.5 6.9 -8.7 -21.4 -18.8 -6.9 -5.2 0.1 3.9 -1.4 1.1 0.9 0.4 -0.2 1.1 3.0 4.4 6.4 5.7 5.6 5.3 5.9 7.1 7.5 7.7 7.3 8.8 9.3 9.3 8.4 9.6 9.7 9.4 9.9 9.3 9.6 9.8 10.1 9.6 10.3 10.6 9.8 9.6 9.7 9.7 8.9 8.1 8.8 9.3 9.2 9.3 9.6 10.0 9.9 10.1 10.4 10.3 10.6 10.7 10.5 10.7 10.9 10.5 10.9 10.9 11.0 10.8 11.2 11.3 11.6 11.6 11.7 11.5 11.4 10.9 11.2 11.3 11.3 11.3 11.2 10.4 10.7 10.8 10.6 10.7 1928 1929 -15.7 -25.1 -34.4 -28.5 -13.6 -10.7 -4.1 0.5 -4.8 -1.8 -1.8 -2.1 -2.5 -1.0 1.1 2.7 4.9 4.2 4.2 4.0 4.6 5.9 6.5 6.7 6.3 7.9 8.4 8.4 7.6 8.8 9.0 8.7 9.2 8.6 8.9 9.2 9.5 9.0 9.7 10.0 9.3 9.0 9.2 9.2 8.4 7.5 8.2 8.8 8.7 8.8 9.2 9.6 9.4 9.7 10.0 9.9 10.3 10.3 10.1 10.3 10.6 10.1 10.5 10.6 10.7 10.5 10.8 11.0 11.3 11.2 11.4 11.2 11.1 10.6 10.9 11.0 11.0 11.1 10.9 10.1 10.4 10.5 10.3 10.4 1929 1930 -33.5 -42.2 -32.4 -13.1 -9.7 -2.0 3.0 -3.3 -0.1 -0.2 -0.8 -1.3 0.2 2.5 4.0 6.4 5.6 5.4 5.1 5.8 7.1 7.6 7.8 7.4 9.0 9.5 9.4 8.5 9.8 9.9 9.6 10.1 9.4 9.8 10.0 10.3 9.8 10.5 10.8 10.0 9.7 9.9 9.9 9.0 8.1 8.8 9.4 9.3 9.4 9.7 10.1 10.0 10.2 10.6 10.4 10.8 10.9 10.6 10.8 11.1 10.6 11.0 11.1 11.2 11.0 11.3 11.4 11.7 11.7 11.8 11.7 11.5 11.0 11.4 11.4 11.4 11.5 11.3 10.5 10.7 10.9 10.7 10.8 1930 1931 -49.8 -31.8 -5.0 -2.5 5.9 10.8 1.9 5.1 4.4 3.3 2.3 3.7 5.9 7.4 9.7 8.6 8.3 7.8 8.4 9.7 10.1 10.2 9.6 11.2 11.7 11.5 10.5 11.8 11.8 11.4 11.9 11.1 11.4 11.6 11.9 11.3 12.0 12.3 11.4 11.1 11.2 11.2 10.3 9.3 10.0 10.6 10.5 10.5 10.9 11.3 11.1 11.3 11.6 11.5 11.8 11.9 11.6 11.8 12.0 11.6 11.9 12.0 12.1 11.9 12.2 12.3 12.6 12.5 12.7 12.5 12.3 11.8 12.1 12.2 12.1 12.2 12.1 11.2 11.5 11.6 11.4 11.5 1931 1932 -7.4 30.6 21.6 27.6 29.8 14.7 16.8 14.3 11.9 9.8 10.7 12.7 13.9 16.0 14.4 13.6 12.8 13.1 14.3 14.5 14.4 13.6 15.2 15.4 15.2 13.9 15.1 15.1 14.5 14.9 14.0 14.2 14.3 14.6 13.9 14.5 14.8 13.7 13.4 13.4 13.4 12.4 11.3 12.0 12.6 12.4 12.4 12.7 13.1 12.9 13.1 13.4 13.2 13.5 13.5 13.2 13.4 13.6 13.1 13.4 13.5 13.5 13.3 13.6 13.7 14.0 13.9 14.0 13.8 13.6 13.1 13.4 13.4 13.4 13.4 13.3 12.4 12.6 12.7 12.5 12.6 1932 1933 84.3 39.4 42.0 41.3 19.7 21.4 17.8 14.6 11.9 12.7 14.8 15.9 18.1 16.1 15.2 14.2 14.5 15.6 15.8 15.6 14.7 16.3 16.5 16.2 14.9 16.1 16.0 15.4 15.8 14.8 15.0 15.1 15.3 14.6 15.2 15.4 14.4 14.0 14.0 14.0 12.9 11.8 12.5 13.1 12.9 12.8 13.2 13.5 13.3 13.5 13.8 13.6 13.9 13.9 13.7 13.8 14.0 13.5 13.8 13.9 13.9 13.7 14.0 14.1 14.3 14.3 14.4 14.2 13.9 13.4 13.7 13.8 13.7 13.7 13.6 12.7 12.9 13.0 12.8 12.9 1933 Dimensional US Adjusted Market 2 Index 1934 5.4 24.6 29.3 7.5 11.7 9.4 7.1 5.2 6.7 9.4 11.1 13.8 12.1 11.4 10.6 11.1 12.5 12.8 12.8 12.0 13.8 14.1 13.9 12.6 14.0 14.0 13.4 13.9 13.0 13.2 13.4 13.6 12.9 13.6 13.9 12.9 12.5 12.6 12.6 11.5 10.4 11.2 11.8 11.6 11.6 12.0 12.4 12.2 12.4 12.7 12.5 12.9 12.9 12.6 12.8 13.0 12.5 12.9 12.9 13.0 12.8 13.1 13.2 13.5 13.4 13.5 13.3 13.1 12.6 12.9 13.0 12.9 13.0 12.8 11.9 12.2 12.3 12.1 12.2 1934 1935 47.2 43.2 8.2 13.3 10.2 7.3 5.1 6.9 9.9 11.7 14.6 12.6 11.9 11.0 11.5 12.9 13.3 13.2 12.4 14.2 14.6 14.3 13.0 14.4 14.3 13.7 14.2 13.2 13.5 13.6 13.9 13.2 13.9 14.2 13.1 12.7 12.8 12.8 11.7 10.6 11.3 11.9 11.8 11.8 12.2 12.5 12.3 12.6 12.9 12.7 13.0 13.1 12.8 13.0 13.2 12.6 13.0 13.1 13.1 12.9 13.2 13.3 13.6 13.6 13.7 13.5 13.2 12.7 13.1 13.1 13.0 13.1 12.9 12.0 12.3 12.4 12.2 12.3 1935 1928–2012: Total Returns (%) 1936 39.3 -7.2 3.8 2.5 0.8 -0.6 2.1 6.0 8.3 11.7 9.9 9.4 8.6 9.3 11.0 11.4 11.5 10.7 12.7 13.1 12.9 11.6 13.1 13.1 12.6 13.1 12.2 12.5 12.6 12.9 12.2 13.0 13.3 12.2 11.8 12.0 11.9 10.9 9.8 10.6 11.2 11.0 11.1 11.5 11.9 11.7 11.9 12.3 12.1 12.4 12.5 12.2 12.4 12.6 12.1 12.5 12.5 12.6 12.4 12.7 12.9 13.1 13.1 13.2 13.0 12.8 12.3 12.6 12.7 12.6 12.7 12.5 11.6 11.9 12.0 11.8 11.9 1936 1937 -38.2 -10.4 -7.5 -7.1 -7.1 -3.0 1.9 4.9 9.0 7.4 7.0 6.4 7.3 9.2 9.8 9.9 9.2 11.4 11.9 11.8 10.4 12.1 12.1 11.6 12.2 11.2 11.6 11.8 12.1 11.4 12.2 12.6 11.5 11.1 11.3 11.3 10.2 9.1 9.9 10.6 10.4 10.5 10.9 11.3 11.1 11.4 11.7 11.6 11.9 12.0 11.7 11.9 12.2 11.7 12.0 12.1 12.2 12.0 12.3 12.5 12.7 12.7 12.8 12.6 12.4 11.9 12.3 12.3 12.3 12.3 12.2 11.2 11.5 11.7 11.5 11.5 1937 GROWTH OF $1 1938 30.0 13.2 6.5 2.9 6.1 10.8 13.2 17.0 14.2 13.0 11.7 12.4 14.1 14.4 14.3 13.2 15.3 15.7 15.3 13.7 15.3 15.2 14.5 15.0 13.9 14.1 14.3 14.5 13.7 14.5 14.8 13.6 13.1 13.2 13.2 12.0 10.8 11.6 12.2 12.0 12.0 12.4 12.8 12.6 12.9 13.2 13.0 13.3 13.4 13.1 13.2 13.4 12.9 13.3 13.3 13.4 13.1 13.5 13.6 13.9 13.8 13.9 13.7 13.5 12.9 13.3 13.3 13.2 13.3 13.1 12.2 12.4 12.6 12.3 12.4 1938 $100,000 1939 -1.4 -3.6 -4.8 0.9 7.3 10.6 15.3 12.3 11.3 10.1 10.9 12.8 13.3 13.2 12.1 14.5 14.9 14.5 12.9 14.6 14.5 13.8 14.4 13.2 13.5 13.7 14.0 13.2 14.0 14.3 13.1 12.6 12.7 12.7 11.5 10.3 11.1 11.8 11.6 11.6 12.0 12.5 12.2 12.5 12.8 12.6 13.0 13.0 12.7 12.9 13.1 12.6 13.0 13.0 13.1 12.9 13.2 13.4 13.6 13.6 13.7 13.5 13.2 12.7 13.0 13.1 13.0 13.1 12.9 11.9 12.2 12.3 12.1 12.2 1939 1940 -5.8 -6.5 1.7 9.6 13.2 18.3 14.4 13.0 11.4 12.2 14.2 14.6 14.4 13.2 15.6 16.0 15.5 13.7 15.5 15.4 14.6 15.2 13.9 14.2 14.4 14.6 13.7 14.6 14.9 13.6 13.1 13.2 13.1 11.9 10.6 11.5 12.2 12.0 12.0 12.4 12.8 12.6 12.8 13.2 13.0 13.3 13.4 13.1 13.2 13.5 12.9 13.3 13.3 13.4 13.1 13.5 13.6 13.9 13.9 14.0 13.7 13.5 12.9 13.3 13.3 13.3 13.3 13.1 12.1 12.4 12.5 12.3 12.4 1940 $5,659 $10,000 1941 -7.2 5.6 15.2 18.5 23.9 18.2 15.9 13.8 14.4 16.4 16.6 16.3 14.8 17.3 17.6 17.0 15.0 16.8 16.6 15.7 16.3 14.9 15.2 15.3 15.6 14.6 15.4 15.7 14.3 13.8 13.9 13.8 12.5 11.2 12.0 12.7 12.5 12.5 12.9 13.3 13.1 13.3 13.7 13.4 13.8 13.8 13.5 13.7 13.9 13.3 13.7 13.7 13.8 13.5 13.9 14.0 14.3 14.2 14.3 14.1 13.8 13.2 13.6 13.7 13.6 13.6 13.4 12.4 12.7 12.8 12.6 12.7 1941 1942 20.2 28.4 28.6 33.1 24.0 20.3 17.1 17.4 19.4 19.3 18.7 16.8 19.4 19.6 18.9 16.6 18.4 18.1 17.1 17.6 16.1 16.3 16.4 16.6 15.5 16.4 16.6 15.2 14.6 14.7 14.5 13.2 11.8 12.7 13.3 13.1 13.1 13.5 13.9 13.6 13.9 14.2 14.0 14.3 14.3 14.0 14.2 14.4 13.8 14.2 14.2 14.2 14.0 14.3 14.4 14.7 14.6 14.7 14.5 14.2 13.6 14.0 14.0 13.9 14.0 13.8 12.8 13.0 13.1 12.9 13.0 1942 $1,000 1943 37.0 32.9 37.7 25.0 20.3 16.6 17.0 19.3 19.2 18.5 16.5 19.4 19.6 18.8 16.3 18.3 18.0 16.9 17.5 15.9 16.1 16.2 16.5 15.3 16.2 16.5 15.0 14.4 14.5 14.4 13.0 11.5 12.4 13.1 12.9 12.9 13.3 13.8 13.5 13.7 14.1 13.8 14.2 14.2 13.9 14.0 14.3 13.6 14.0 14.1 14.1 13.8 14.2 14.3 14.6 14.5 14.6 14.4 14.1 13.5 13.9 13.9 13.8 13.9 13.7 12.6 12.9 13.0 12.8 12.9 1943 1944 28.9 38.1 21.2 16.5 12.9 14.0 17.0 17.2 16.6 14.6 17.9 18.2 17.5 15.0 17.1 16.9 15.8 16.5 14.9 15.2 15.3 15.6 14.5 15.4 15.7 14.2 13.7 13.7 13.7 12.2 10.8 11.7 12.5 12.3 12.3 12.7 13.2 12.9 13.2 13.6 13.3 13.7 13.7 13.4 13.6 13.8 13.2 13.6 13.7 13.7 13.4 13.8 13.9 14.2 14.2 14.3 14.0 13.8 13.1 13.5 13.6 13.5 13.6 13.4 12.3 12.6 12.7 12.5 12.6 1944 $100 1945 47.9 17.6 12.6 9.3 11.2 15.1 15.6 15.2 13.1 16.8 17.3 16.6 14.0 16.3 16.1 15.0 15.8 14.1 14.5 14.6 15.0 13.9 14.9 15.2 13.7 13.1 13.2 13.1 11.7 10.2 11.2 12.0 11.8 11.8 12.3 12.8 12.5 12.8 13.2 12.9 13.4 13.4 13.0 13.2 13.5 12.9 13.3 13.4 13.4 13.1 13.5 13.7 14.0 13.9 14.0 13.8 13.5 12.9 13.3 13.3 13.3 13.3 13.1 12.1 12.4 12.5 12.3 12.3 1945 1946 -6.5 -1.8 -1.2 3.5 9.5 10.9 11.1 9.4 13.8 14.6 14.1 11.5 14.2 14.1 13.1 14.0 12.4 12.9 13.1 13.6 12.5 13.5 14.0 12.4 11.9 12.1 12.0 10.6 9.1 10.2 11.0 10.8 10.9 11.4 11.9 11.6 12.0 12.4 12.2 12.6 12.7 12.3 12.5 12.8 12.2 12.6 12.7 12.8 12.5 12.9 13.1 13.4 13.4 13.5 13.2 13.0 12.3 12.8 12.8 12.8 12.8 12.6 11.6 11.9 12.0 11.8 11.9 1946 $10 1947 3.2 1.5 7.1 13.9 14.8 14.4 11.9 16.6 17.2 16.3 13.3 16.1 15.9 14.7 15.5 13.7 14.1 14.3 14.7 13.5 14.6 15.0 13.3 12.7 12.9 12.8 11.3 9.7 10.8 11.7 11.4 11.4 12.0 12.5 12.2 12.5 13.0 12.7 13.1 13.2 12.8 13.0 13.3 12.7 13.1 13.2 13.3 13.0 13.4 13.5 13.8 13.8 13.9 13.7 13.4 12.7 13.2 13.2 13.1 13.2 13.0 11.9 12.2 12.3 12.1 12.2 1947 1948 -0.2 9.1 17.6 17.9 16.8 13.4 18.7 19.1 17.9 14.4 17.4 17.0 15.6 16.5 14.4 14.8 15.0 15.4 14.1 15.2 15.6 13.8 13.2 13.3 13.2 11.6 10.0 11.1 12.0 11.7 11.7 12.3 12.8 12.5 12.8 13.2 13.0 13.4 13.4 13.1 13.3 13.6 12.9 13.4 13.4 13.5 13.2 13.6 13.7 14.1 14.0 14.1 13.9 13.6 12.9 13.3 13.4 13.3 13.4 13.2 12.0 12.3 12.5 12.2 12.3 1948 $1 1949 19.2 27.7 24.6 21.4 16.4 22.1 22.1 20.4 16.1 19.3 18.7 17.0 17.8 15.6 15.9 16.0 16.4 14.9 16.1 16.4 14.5 13.8 13.9 13.8 12.1 10.4 11.5 12.4 12.1 12.1 12.7 13.2 12.9 13.2 13.7 13.4 13.8 13.8 13.4 13.7 13.9 13.2 13.7 13.7 13.8 13.5 13.9 14.1 14.4 14.3 14.4 14.1 13.9 13.2 13.6 13.6 13.5 13.6 13.4 12.3 12.6 12.7 12.5 12.5 1949 1950 36.7 27.3 22.2 15.6 22.7 22.6 20.5 15.7 19.3 18.7 16.8 17.7 15.3 15.7 15.8 16.2 14.7 15.9 16.3 14.3 13.6 13.7 13.6 11.8 10.0 11.2 12.2 11.9 11.9 12.5 13.0 12.7 13.0 13.5 13.2 13.7 13.7 13.3 13.5 13.8 13.1 13.6 13.6 13.7 13.4 13.8 13.9 14.3 14.2 14.3 14.0 13.8 13.0 13.5 13.5 13.4 13.5 13.3 12.1 12.5 12.6 12.3 12.4 1950 1951 18.6 15.5 9.4 19.5 20.0 18.0 13.0 17.3 16.8 15.0 16.1 13.7 14.2 14.5 15.0 13.4 14.8 15.3 13.2 12.5 12.7 12.6 10.8 9.0 10.3 11.3 11.1 11.1 11.7 12.3 12.0 12.4 12.9 12.6 13.1 13.1 12.7 13.0 13.2 12.5 13.0 13.1 13.2 12.9 13.3 13.5 13.8 13.8 13.9 13.6 13.3 12.6 13.1 13.2 13.1 13.1 12.9 11.8 12.1 12.2 12.0 12.1 1951 $0 1928 1952 12.5 5.0 19.8 20.3 17.9 12.1 17.1 16.6 14.6 15.9 13.2 13.8 14.1 14.7 13.1 14.5 15.1 12.9 12.2 12.4 12.3 10.5 8.6 10.0 11.0 10.8 10.8 11.5 12.1 11.8 12.2 12.7 12.4 12.9 13.0 12.6 12.8 13.1 12.4 12.9 13.0 13.1 12.7 13.2 13.4 13.7 13.7 13.8 13.5 13.2 12.5 13.0 13.1 13.0 13.0 12.8 11.6 12.0 12.1 11.9 12.0 1952 D I M E N S I O N A L F U N D A D VI S O R S 1953 -1.9 23.6 23.0 19.3 12.0 17.9 17.2 14.9 16.3 13.3 14.0 14.3 14.9 13.1 14.7 15.2 13.0 12.2 12.4 12.3 10.4 8.5 9.9 11.0 10.7 10.8 11.4 12.1 11.8 12.2 12.7 12.4 12.9 13.0 12.6 12.8 13.1 12.4 12.9 13.0 13.1 12.8 13.2 13.4 13.8 13.7 13.8 13.6 13.3 12.5 13.0 13.1 13.0 13.1 12.8 11.6 12.0 12.1 11.9 12.0 1953 2012 Index data compiled by Dimensional. 1954 55.8 37.8 27.4 15.8 22.3 20.7 17.5 18.8 15.1 15.7 15.9 16.4 14.4 16.0 16.5 14.0 13.1 13.3 13.1 11.0 9.0 10.5 11.6 11.3 11.3 12.0 12.7 12.3 12.7 13.2 12.9 13.4 13.5 13.0 13.3 13.6 12.8 13.3 13.4 13.5 13.1 13.6 13.8 14.1 14.1 14.2 13.9 13.6 12.8 13.3 13.4 13.3 13.4 13.1 11.9 12.2 12.4 12.1 12.2 1954 1955 21.9 15.2 4.9 15.1 14.7 12.1 14.3 10.9 11.9 12.5 13.4 11.5 13.4 14.1 11.6 10.8 11.1 11.1 9.1 7.1 8.7 9.9 9.7 9.8 10.5 11.3 10.9 11.4 12.0 11.7 12.3 12.3 11.9 12.2 12.6 11.8 12.4 12.5 12.6 12.2 12.7 12.9 13.3 13.3 13.4 13.1 12.8 12.1 12.6 12.7 12.6 12.7 12.4 11.2 11.6 11.7 11.5 11.6 1955 1956 8.9 -2.7 12.9 13.0 10.3 13.0 9.4 10.7 11.5 12.6 10.6 12.7 13.5 10.9 10.1 10.5 10.5 8.4 6.3 8.0 9.4 9.1 9.3 10.1 10.9 10.5 11.0 11.6 11.3 11.9 12.0 11.6 11.9 12.3 11.5 12.1 12.2 12.3 12.0 12.5 12.7 13.1 13.1 13.2 13.0 12.6 11.9 12.4 12.5 12.4 12.5 12.3 11.0 11.4 11.6 11.3 11.4 1956 1957 -13.0 15.0 14.4 10.6 13.9 9.4 11.0 11.8 13.0 10.7 13.0 13.9 11.1 10.2 10.6 10.6 8.4 6.2 8.0 9.4 9.1 9.3 10.1 10.9 10.6 11.1 11.7 11.4 12.1 12.1 11.7 12.0 12.4 11.6 12.2 12.3 12.4 12.1 12.6 12.8 13.2 13.2 13.3 13.0 12.7 11.9 12.5 12.6 12.5 12.6 12.3 11.1 11.4 11.6 11.3 11.5 1957 1958 52.1 31.2 19.8 21.8 14.6 15.6 15.9 16.7 13.7 16.0 16.7 13.4 12.3 12.5 12.4 9.9 7.4 9.3 10.7 10.4 10.5 11.3 12.1 11.7 12.2 12.8 12.4 13.1 13.1 12.7 13.0 13.3 12.4 13.1 13.1 13.2 12.9 13.4 13.6 14.0 13.9 14.0 13.7 13.4 12.6 13.1 13.2 13.1 13.2 12.9 11.6 12.0 12.1 11.9 12.0 1958 1959 13.2 6.4 13.1 6.8 9.4 10.8 12.4 9.7 12.6 13.7 10.4 9.4 10.0 10.0 7.5 5.1 7.2 8.8 8.5 8.7 9.7 10.6 10.2 10.8 11.5 11.1 11.8 11.9 11.5 11.8 12.2 11.4 12.0 12.2 12.3 11.9 12.5 12.7 13.1 13.1 13.3 13.0 12.6 11.8 12.4 12.5 12.4 12.5 12.2 10.9 11.3 11.5 11.2 11.3 1959 1960 0.0 13.1 4.7 8.5 10.3 12.3 9.2 12.5 13.7 10.1 9.1 9.7 9.8 7.1 4.6 6.8 8.5 8.3 8.5 9.5 10.4 10.1 10.7 11.4 11.1 11.8 11.9 11.4 11.8 12.2 11.3 12.0 12.1 12.3 11.9 12.5 12.7 13.1 13.1 13.3 13.0 12.6 11.8 12.4 12.4 12.3 12.4 12.2 10.8 11.2 11.4 11.2 11.3 1960 1961 28.0 7.1 11.5 13.1 14.9 10.8 14.4 15.6 11.3 10.1 10.6 10.7 7.7 4.9 7.3 9.1 8.8 9.0 10.0 11.0 10.6 11.2 11.9 11.6 12.3 12.4 11.9 12.2 12.6 11.7 12.4 12.5 12.7 12.3 12.8 13.1 13.5 13.4 13.6 13.3 12.9 12.1 12.7 12.7 12.6 12.7 12.5 11.1 11.5 11.7 11.4 11.5 1961 1962 -10.3 4.1 8.5 11.8 7.7 12.3 13.9 9.3 8.2 9.0 9.2 6.2 3.4 6.0 7.9 7.7 8.0 9.1 10.2 9.8 10.4 11.2 10.9 11.7 11.8 11.3 11.7 12.1 11.2 11.9 12.1 12.2 11.8 12.4 12.7 13.1 13.1 13.3 12.9 12.6 11.7 12.3 12.4 12.3 12.4 12.2 10.8 11.2 11.4 11.1 11.2 1962 1963 20.8 19.4 20.4 12.7 17.5 18.5 12.5 10.8 11.4 11.4 7.8 4.6 7.3 9.3 9.0 9.2 10.4 11.4 11.0 11.6 12.4 12.0 12.7 12.8 12.3 12.6 13.1 12.1 12.8 12.9 13.0 12.6 13.2 13.4 13.9 13.8 14.0 13.6 13.2 12.3 12.9 13.0 12.9 13.0 12.7 11.3 11.7 11.9 11.6 11.7 1963 1964 17.9 20.1 10.1 16.7 18.1 11.2 9.5 10.3 10.4 6.6 3.2 6.3 8.5 8.2 8.5 9.7 10.9 10.4 11.1 12.0 11.6 12.4 12.5 11.9 12.3 12.8 11.7 12.5 12.6 12.8 12.3 13.0 13.2 13.7 13.6 13.8 13.4 13.1 12.1 12.7 12.8 12.7 12.8 12.5 11.1 11.5 11.7 11.4 11.5 1964 1965 22.4 6.4 16.2 18.1 9.9 8.1 9.2 9.5 5.4 1.9 5.3 7.8 7.5 7.9 9.2 10.5 10.0 10.8 11.7 11.2 12.1 12.3 11.7 12.1 12.6 11.5 12.3 12.4 12.6 12.1 12.8 13.1 13.6 13.5 13.7 13.3 12.9 12.0 12.6 12.7 12.6 12.7 12.4 10.9 11.3 11.6 11.3 11.4 1965 1966 -7.5 13.3 16.8 6.9 5.5 7.2 7.7 3.4 -0.2 3.7 6.5 6.4 6.8 8.3 9.7 9.3 10.1 11.1 10.7 11.6 11.8 11.2 11.7 12.2 11.1 12.0 12.1 12.3 11.8 12.5 12.8 13.3 13.2 13.4 13.1 12.7 11.7 12.4 12.5 12.4 12.5 12.2 10.7 11.1 11.3 11.0 11.2 1966 1967 38.8 31.2 12.2 9.0 10.4 10.5 5.1 0.8 5.0 8.0 7.7 8.1 9.7 11.1 10.5 11.3 12.3 11.8 12.8 12.9 12.2 12.6 13.1 11.9 12.8 12.9 13.1 12.6 13.3 13.5 14.1 13.9 14.1 13.7 13.3 12.3 13.0 13.0 12.9 13.0 12.7 11.1 11.6 11.8 11.5 11.6 1967 1968 24.0 0.9 0.5 4.2 5.6 0.3 -3.8 1.4 5.1 5.0 5.7 7.5 9.2 8.7 9.7 10.9 10.4 11.5 11.6 11.0 11.5 12.1 10.9 11.8 12.0 12.2 11.7 12.5 12.7 13.3 13.2 13.4 13.1 12.6 11.6 12.3 12.4 12.3 12.4 12.1 10.5 11.0 11.2 10.9 11.1 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1969 -17.9 -9.5 -1.6 1.4 -3.8 -7.7 -1.4 2.9 3.1 4.0 6.1 8.0 7.6 8.7 10.0 9.6 10.8 11.0 10.4 10.9 11.5 10.3 11.3 11.5 11.7 11.2 12.1 12.4 13.0 12.9 13.1 12.7 12.3 11.3 12.0 12.1 12.0 12.1 11.9 10.2 10.7 11.0 10.6 10.8 1969 1970 -0.2 7.7 8.8 0.1 -5.6 1.6 6.3 6.1 6.8 8.9 10.8 10.1 11.1 12.3 11.7 12.9 13.0 12.2 12.7 13.3 11.9 12.9 13.0 13.2 12.6 13.4 13.7 14.3 14.1 14.3 13.9 13.4 12.3 13.0 13.1 13.0 13.1 12.8 11.0 11.5 11.8 11.4 11.6 1970 1971 16.2 13.7 0.2 -6.8 2.0 7.4 7.0 7.7 10.0 11.9 11.1 12.1 13.4 12.6 13.8 13.9 13.0 13.5 14.0 12.5 13.6 13.7 13.8 13.2 14.0 14.3 14.8 14.7 14.9 14.4 13.9 12.7 13.5 13.5 13.4 13.5 13.1 11.4 11.9 12.1 11.7 11.9 1971 1972 11.2 -7.0 -13.5 -1.3 5.7 5.6 6.5 9.2 11.5 10.6 11.8 13.1 12.4 13.6 13.7 12.8 13.3 13.9 12.4 13.4 13.5 13.7 13.0 13.9 14.2 14.8 14.6 14.8 14.3 13.8 12.6 13.4 13.5 13.3 13.4 13.1 11.2 11.7 12.0 11.6 11.8 1972 1973 -22.2 -23.7 -5.1 4.4 4.5 5.7 8.9 11.5 10.5 11.8 13.3 12.5 13.8 13.9 12.9 13.4 14.1 12.4 13.5 13.7 13.8 13.1 14.0 14.3 14.9 14.7 15.0 14.4 13.9 12.6 13.4 13.5 13.4 13.5 13.1 11.2 11.8 12.0 11.6 11.8 1973 1974 -25.1 4.8 15.2 12.5 12.4 15.2 17.4 15.4 16.4 17.7 16.3 17.5 17.3 15.9 16.3 16.8 14.9 16.0 16.0 16.0 15.2 16.0 16.2 16.8 16.5 16.7 16.1 15.5 14.1 14.9 14.9 14.7 14.8 14.4 12.4 12.9 13.1 12.7 12.8 1974 1975 46.6 42.8 28.8 24.4 25.6 26.5 22.8 23.0 23.7 21.5 22.4 21.7 19.9 20.0 20.3 18.0 19.0 18.8 18.7 17.7 18.4 18.6 19.1 18.7 18.8 18.1 17.3 15.8 16.6 16.6 16.3 16.3 15.8 13.7 14.2 14.4 13.9 14.0 1975 1976 39.1 20.7 17.8 20.8 22.8 19.2 19.9 21.1 19.0 20.2 19.7 17.9 18.2 18.6 16.3 17.4 17.3 17.3 16.3 17.2 17.4 18.0 17.6 17.7 17.0 16.3 14.8 15.6 15.7 15.4 15.5 15.0 12.8 13.4 13.6 13.2 13.3 1976 1977 4.7 8.4 15.2 19.1 15.6 17.0 18.7 16.7 18.3 17.9 16.1 16.6 17.2 14.8 16.1 16.1 16.1 15.2 16.1 16.4 17.0 16.7 16.9 16.2 15.5 14.0 14.8 14.9 14.6 14.7 14.3 12.1 12.7 12.9 12.5 12.6 1977 1978 12.2 20.9 24.3 18.5 19.7 21.3 18.5 20.1 19.5 17.3 17.8 18.3 15.6 17.0 16.9 16.9 15.8 16.8 17.0 17.7 17.3 17.5 16.7 16.0 14.3 15.2 15.3 15.0 15.1 14.6 12.4 12.9 13.2 12.7 12.9 1978 1979 30.3 30.8 20.6 21.6 23.2 19.6 21.2 20.4 17.9 18.3 18.9 15.9 17.3 17.2 17.2 16.0 17.1 17.3 18.0 17.6 17.7 16.9 16.1 14.4 15.4 15.4 15.1 15.2 14.7 12.4 13.0 13.2 12.7 12.9 1979 1980 31.3 16.1 18.8 21.4 17.6 19.8 19.0 16.4 17.1 17.8 14.7 16.3 16.3 16.3 15.1 16.3 16.6 17.3 17.0 17.1 16.3 15.5 13.8 14.8 14.8 14.6 14.7 14.2 11.8 12.4 12.7 12.2 12.4 1980 1981 2.7 13.0 18.3 14.4 17.6 17.1 14.5 15.4 16.4 13.2 15.1 15.1 15.3 14.1 15.4 15.7 16.6 16.2 16.4 15.6 14.8 13.1 14.1 14.2 14.0 14.1 13.6 11.2 11.8 12.2 11.7 11.9 1981 1982 24.4 27.0 18.6 21.7 20.2 16.5 17.3 18.2 14.4 16.4 16.3 16.4 15.0 16.3 16.6 17.5 17.1 17.3 16.4 15.5 13.6 14.7 14.7 14.4 14.6 14.0 11.5 12.2 12.5 12.0 12.2 1982 1983 29.7 15.7 20.8 19.2 15.0 16.2 17.4 13.2 15.5 15.5 15.7 14.2 15.7 16.1 17.0 16.6 16.8 15.9 15.0 13.1 14.2 14.3 14.0 14.2 13.6 11.0 11.7 12.1 11.6 11.8 1983 1984 3.3 16.5 15.9 11.6 13.7 15.4 11.0 13.8 14.1 14.3 12.9 14.6 15.1 16.2 15.8 16.1 15.2 14.3 12.2 13.5 13.6 13.4 13.5 13.0 10.3 11.1 11.5 11.0 11.2 1984 1985 31.5 22.8 14.6 16.5 18.0 12.4 15.4 15.5 15.6 14.0 15.7 16.2 17.2 16.8 17.0 16.0 14.9 12.8 14.1 14.2 13.9 14.0 13.5 10.6 11.4 11.8 11.3 11.5 1985 1986 14.7 6.9 11.8 14.9 8.9 13.0 13.4 13.8 12.2 14.3 14.9 16.1 15.7 16.0 15.0 14.0 11.8 13.2 13.3 13.1 13.3 12.7 9.8 10.7 11.1 10.6 10.8 1986 1987 -0.3 10.4 14.9 7.5 12.6 13.2 13.7 11.8 14.2 14.9 16.3 15.8 16.1 15.0 13.9 11.6 13.1 13.3 13.0 13.2 12.6 9.6 10.5 10.9 10.4 10.7 1987 1988 22.3 23.4 10.2 16.1 16.1 16.2 13.7 16.2 16.7 18.1 17.4 17.6 16.3 15.0 12.4 14.0 14.1 13.8 14.0 13.3 10.1 11.0 11.5 10.9 11.1 1988 1989 24.5 4.6 14.1 14.6 15.0 12.3 15.3 16.0 17.6 16.9 17.2 15.8 14.5 11.7 13.4 13.6 13.3 13.5 12.8 9.5 10.5 11.0 10.4 10.7 1989 1990 -12.1 9.2 11.4 12.7 10.0 13.8 14.9 16.8 16.1 16.5 15.0 13.7 10.8 12.7 12.9 12.6 12.9 12.2 8.8 9.8 10.4 9.8 10.1 1990 1991 35.7 25.4 22.5 16.4 19.9 20.1 21.6 20.2 20.2 18.2 16.4 13.0 14.9 15.0 14.5 14.7 13.8 10.0 11.1 11.6 11.0 11.3 1991 1992 15.9 16.3 10.6 16.2 17.2 19.4 18.1 18.4 16.4 14.6 11.1 13.3 13.5 13.1 13.4 12.6 8.7 9.9 10.5 9.8 10.2 1992 1993 16.8 8.0 16.3 17.5 20.1 18.4 18.7 16.4 14.4 10.6 13.0 13.3 12.9 13.2 12.4 8.3 9.6 10.2 9.5 9.9 1993 MATR IX BOOK 2013 1994 -0.2 16.1 17.8 20.9 18.8 19.0 16.4 14.1 10.0 12.7 13.0 12.6 12.9 12.1 7.7 9.1 9.8 9.1 9.6 1994 1995 35.0 28.0 28.9 24.1 23.3 19.4 16.3 11.3 14.2 14.4 13.8 14.1 13.1 8.3 9.8 10.5 9.7 10.2 1995 1996 21.3 26.0 20.6 20.6 16.5 13.5 8.3 11.8 12.3 11.9 12.4 11.4 6.5 8.2 9.0 8.3 8.8 1996 1997 30.8 20.3 20.3 15.3 12.0 6.2 10.5 11.2 10.9 11.5 10.6 5.3 7.2 8.2 7.5 8.1 1997 1998 10.6 15.4 10.5 7.7 1.9 7.5 8.7 8.6 9.6 8.7 3.3 5.5 6.6 6.0 6.7 1998 1999 20.4 2000 10.5 1.5 2001 6.8 0.6 -0.2 2002 -0.2 -6.2 -9.8 -18.4 2003 6.9 3.7 4.5 6.9 40.2 2004 8.4 6.1 7.3 10.0 27.7 16.3 2005 8.3 6.4 7.4 9.5 20.7 12.0 7.9 2006 9.4 7.9 9.1 11.0 19.9 13.9 12.6 17.5 2007 8.5 7.1 7.9 9.4 16.0 10.6 8.8 9.2 1.4 2008 2.6 0.8 0.7 0.8 4.4 -1.5 -5.6 -9.7 -20.8 -38.2 2009 5.0 3.6 3.8 4.3 8.1 3.5 1.1 -0.6 -5.9 -9.4 32.7 2010 6.3 5.1 5.5 6.1 9.7 5.9 4.3 3.6 0.3 0.0 27.2 21.8 2011 5.6 4.5 4.8 5.3 8.3 4.9 3.4 2.6 -0.1 -0.5 16.6 9.2 -2.1 2012 6.5 5.5 5.8 6.4 9.2 6.3 5.1 4.7 2.7 2.9 16.9 12.1 7.5 17.9 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 17