The Callan Periodic Table of Investment Returns 2004 To 2023: Chart

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Callan has released the latest edition of The Periodic Table of Investment Returns chart. The 2023 chart shows the annual returns of key indices from 2004 to 2023 in order of performance for each year. Last year US large caps as denoted by the S&P 500 was the top performer with a return of over 26%. Developed markets excluding the US underperformed relative to the S&P 500 but still grew by nearly 18%. The worst performer was cash with a decent return of over 5%.

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Source: Callan

Download Callan 2023 chart in pdf format:

Related ETFs:

  • SPDR S&P 500 ETF (SPY)
  • Vanguard Developed Markets Index Fund ETF(VEA)
  • Vanguard MSCI Emerging Markets ETF (VWO)
  • iShares MSCI Emerging Markets ETF (EEM)
  • Vanguard Total Bond Market ETF (BND)

Disclosure: No positions

Asset Class Returns From 2009 To 2023: Chart

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We looked at the emerging markets returns and S&P 500 sector returns chart for 2023 in two posts earlier. In the post below let’s take a quick look at the asset class returns chart from 2009 to 2023 that was also published by Novel Investor. As expected, large caps were the winners in 2023 followed by international developed stocks. Cash was the worst performer with a return of 5.15% followed by high-yield bonds.

Over the past 15 years, large caps as denoted by the S&P 500 crushed all other assets with a return of over 610%. International developed stocks lagged by a substantial margin with a return of just 193%.

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Source: Novel Investor

The Top 10 States for Inbound and Outbound Migration in the US 2023: Chart

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Migration within states in the US increased during the Covid-19 pandemic era when people in big cities moved out to smaller cities and rural areas. The popularity of remote work after the pandemic also is a driving factor for population migration. A recent report by the Tax Foundation noted that more people migrated from high-tax states to low-tax states. The top five states the lost the most population in 2023 were New York, California, Hawaii, Alaska and Illinois in that order. The top five states that had the highest population growth due to inbound migration are all low-tax states – South Carolina, Delaware, North Carolina, Tennessee and Florida respectively. Texas is also a big winner of inbound migration from high-tax states like California for example.

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Source: Americans Moved to Low-Tax States in 2023, Tax Foundation

The entire report is worth a read.

You may also want to read the below post by Mish published last month:

Emerging Markets Returns by Country 2009 to 2023: Chart

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We reviewed the S&P 500 sector performance chart for 2023 in an earlier post. The following chart shows the emerging markets returns by country from 2009 to 2023 also published by Novel Investor. Last year Hungary was the best performing emerging market followed by Greece and Poland. Who would have thought that Greece, which was in the midst of a sovereign debt crisis a few years ago, would be one the top performing markets in 2023. Mexico also had an excellent return at over 41%.

The worst performing market last year was China.

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Source: Novel Investor