U.S. and international stocks in 2009 had their highest returns in six years, according to the annual Callan Periodic Table of Investment Returns.
The table shows that the Russell 2000 Growth index had the best returns in 2009 at 34.5%, followed by the MSCI EAFE index, 31.8%; the S&P/Citigroup 500 Growth, 31.6%; the Russell 2000, 27.2%; the S&P 500, 26.5%; the S&P/Citigroup 500 Value, 21.2%; the Russell 2000 Value, 20.6%; and Barclays Capital Aggregate Bond, 5.9%.
In 2008, the Barclays Capital Aggregate Bond index had the best returns at 5.2%, followed by the Russell 2000 Value, -28.9%; the Russell 2000, -33.8%; the S&P/Citigroup 500 Growth -34.9%; the S&P 500, -37%; the Russell 2000 Growth, -38.5%; the S&P/Citigroup 500 Value, -39.2%; and the MSCI EAFE, -43.4%.
Despite the 0.7 percentage-point difference between its 2008 and 2009 returns, the Barclays Aggregate Bond index went from the best performance in 2008 to the worst in 2009.
Jay Kloepfer, executive vice president and director of capital market research at CallanAssociates, said he created the table — which ranks the returns of various markets — in 1998 to show investors how quickly capital markets can change.
“I put it in front of people who were being irrational to show them that things change,” he said in a telephone interview.