Cycle of Investor Emotions | Russell Investments

IMPORTANT RISK DISCLOSURES

Investors should consider how the combined risks impact their total investment portfolio and understand that different risks can lead to varying financial consequences, including loss of principal.

*Magnificent 7 refers to Apple, Microsoft, Alphabet, Amazon, NVIDIA, Tesla and Meta as the largest market cap stocks.

Latest month end data as of December 31, 2024. Illustration purposes only.

Market cycle returns calculated using Ibbotson U.S. Equity Total Return Index from 1971–1978 and Russell 3000^® Index from 1979 to 2024.

Any past performance is not necessarily a guide to future performance. Indexes are unmanaged and cannot be invested in directly.

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Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates Management, L.P., with a significant minority stake held by funds managed by Reverence Capital Partners, L.P. Certain of Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.