Both the NCREIF Timberland and Farmland indexes have historically provided investors with consistent positive returns with less downside risk than equities. The NCREIF Timberland index has produced positive quarterly returns 91% of the time since 1990 and the Farmland index 99% of the time. The only negative quarter for the NCREIF Farmland index was the fourth quarter of 2001 when it returned -0.01%.
