Capital Markets Assumptions

The 2021-2030 Capital Markets Assumptions are Callan’s long-term expectations for return and volatility for broad asset classes.

Callan's 10-Year Assumptions by Asset Class

Explore our long-term outlook for return and risk for all of the major asset classes. In this chart, you can view those assumptions by asset class type, such as equities or fixed income.

Our complete set of projections is also available in this charticle, and you can go even deeper into our analysis in our white paper. To learn what goes into the development of our Capital Markets Assumptions, read our story.

View the Webinar: 2021-2030 Capital Markets Assumptions

This webinar, presented by Jay Kloepfer, Kevin Machiz, and Adam Lozinski, details the process and rationale behind our long-term assumptions and the potential implications for strategic recommendations.

Download the Presentation

How Does Asset Allocation Affect Risk and Return?

Select different mixes below to see.

Learn More About Callan's Capital Markets Assumptions

2021 White Paper

2021 Charticle

Capital Market Assumptions:
A Manifesto

History of Our Assumptions

Look back over the last two decades to see how our projections have changed. Hover over any point on the time line to view projections for any year over the last 20. Click on a specific asset class to highlight its changes over the whole time period.

“Our projections are informed by current market conditions but are not directly built from them since the forecasts are long term in nature.”

Jay Kloepfer

Executive Vice President
and Director