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  "documentTitle": "guide to the markets au",
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  "notes": "The chart demonstrates the principle of time diversification, showing that volatility decreases over longer holding periods.",
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      "text": "Range of equity, bond and blended total returns",
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      "text": "Source: Barclays, FactSet, Robert Shiller, Strategas/Ibbotson, U.S. Federal Reserve, J.P. Morgan Asset Management. Returns shown are based on calendar year returns from 1950 to 2018. Large cap equity represents the S&P 500 Shiller Composite and bonds represents the Strategas/Ibbotson for periods from 1950 to 1980 and the Barclays Aggregate after index inception in 1980. Past performance is not a reliable indicator of current and future results. Guide to the Markets – Australia. Data as of 31 March 2026.",
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      "text": "Annual total returns: 47%",
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