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QUARTERLY MARKET SUMMARY <br />For the Quarter Ended September 30, 2025 <br />Multi-Asset Class Management <br />Index or Average Name QTD YTD One Year Three <br />Year Five Year Seven <br />Year Ten Year <br />DOMESTIC EQUITY <br />S&P 500 (TR)8.12% 14.83% 17.60% 24.91% 16.46% 14.44% 15.29% <br />Russell 3000 8.18% 14.40% 17.41% 24.09% 15.73% 13.70% 14.70% <br />Russell 1000 Growth 10.51% 17.24% 25.53% 31.58% 17.56% 18.09% 18.81% <br />Russell 1000 7.99% 14.60% 17.75% 24.61% 15.98% 14.17% 15.02% <br />Russell 1000 Value 5.33% 11.65% 9.44% 16.95% 13.87% 9.52% 10.71% <br />Russell Midcap 5.33% 10.42% 11.11% 17.67% 12.65% 10.06% 11.38% <br />Russell Midcap Growth 2.78% 12.84% 22.02% 22.82% 11.25% 11.99% 13.36% <br />Russell Midcap Value 6.18% 9.50% 7.58% 15.50% 13.66% 8.64% 9.95% <br />Russell 2000 Growth 12.19% 11.65% 13.56% 16.67% 8.41% 6.61% 9.90% <br />Russell 2000 12.39% 10.39% 10.76% 15.20% 11.55% 6.75% 9.76% <br />Russell 2000 Value 12.60% 9.04% 7.88% 13.55% 14.59% 6.39% 9.22% <br />INTERNATIONAL EQUITY <br />MSCI EAFE 4.77% 25.14% 14.99% 21.68% 11.15% 7.71% 8.16% <br />MSCI AC World 7.62% 18.44% 17.27% 23.10% 13.54% 11.27% 11.90% <br />MSCI AC World ex USA 6.89% 26.02% 16.45% 20.65% 10.25% 7.48% 8.22% <br />MSCI AC World ex USA Small Cap 6.68% 25.54% 15.93% 19.34% 9.96% 7.16% 8.36% <br />MSCI EM (Emerging Markets)10.64% 27.53% 17.32% 18.19% 7.01% 6.16% 7.98% <br />LISTED REAL ASSETS <br />FTSE Nareit / Equity REITs - INV 4.77% 4.51% -1.98% 10.79% 9.32% 6.10% 6.60% <br />MSCI US REIT INDEX 4.49% 3.75% -2.88% 9.50% 8.03% 4.89% 5.31% <br />MSCI World Core Infrastructure 1.80% 15.48% 8.21% 11.33% 7.86% 7.46% 8.26% <br />FIXED INCOME <br />Bloomberg U.S. Aggregate 2.03% 6.13% 2.88% 4.92% -0.45% 2.06% 1.84% <br />Bloomberg U.S. Government/Credit 1.91% 5.93% 2.67% 4.87% -0.61% 2.22% 1.99% <br />Bloomberg U.S. Intermediate Government/Credit 1.51% 5.70% 4.01% 5.17% 0.81% 2.61% 2.09% <br />Bloomberg U.S. Treasury (1-3 Y) 1.12% 3.99% 3.89% 4.35% 1.53% 2.24% 1.67% <br />ICE BofA U.S. High Yield 2.40% 7.06% 7.23% 10.96% 5.53% 5.17% 6.07% <br />Bloomberg Global Aggregate 0.60% 7.91% 2.40% 5.44% -1.56% 0.79% 1.14% <br />CASH EQUIVALENT <br />Bloomberg 3 Month T-Bill 1.08% 3.21% 4.43% 4.85% 3.03% 2.66% 2.11% <br />Source: Investment Metrics. Returns are expressed as percentages. Please refer to the last page of this document for important disclosures relating to this material. <br />2.1 <br />Exhibit A <br />Resolution No. 2025-166 Page 4