Dimson, Marsh and Staunton have been compiling the most comprehensive analysis of historical returns across all major asset classes for many years. https://www

Dimson, Marsh and Staunton have been compiling the most comprehensive analysis of historical returns across all major asset classes for many years. https://www.ubs.com/global/en/investment-bank/insights-and-data/2025/global-investment-returns-yearbook-2025.html https://www.ubs.com/global/en/investment-bank/insights-and-d... From the summary: US real returns (1900-2024): Stocks: 6.6%/yr annualized, Bonds: 1.6%/yr, Bills: 0.5%/yr But it is noted: > The 21st century is now 25 years old. Measured since the start of 2000, stock returns have been lower than over the 20th century, though global equity investors still enjoyed an annualized real return of 3.5% and an equity risk premium relative to bills of 4.3%