|Source: Cedar Advisors/BlackRock|
For each year, the categories are ranked with the top-performing sector at the top and the remaining sectors in descending order, all on a color-coded basis.
As in the past, a diversified portfolio--basically 65% stocks/35% fixed income--is also shown. It is notable that the diversified portfolio is never among the poorest 3 performers and only in the top 3 once. Thus, it illustrates the dampening quality of diversification. Over the 20-year period, the diversified portfolio achieved an average annualized return of 8.89%/year (4th place on the list), slightly below the S&P 500 annualized return of 9.14%.