$15,110,193,661

Invested Assets
(as of 6/30/2026)

17.26%

Fiscal Year to Date
(as of 6/30/2026)

7.34%

5-Year Rate of Return
(as of 6/30/2026)

Investments and Returns

The Legacy Fund’s investment horizon is long, so returns across multiple years say more about how it is doing than any single year does. Performance is also measured against benchmarks, which show whether returns are consistent with the risks and strategies of the portfolio.

Returns are shown for each fiscal year since 2012. Values are in billions; data provided as of 06/30/26. The left y-axis shows the fund's invested assets value. The right y-axis shows the investment return percentage.

Earnings Principal Return Rate

Performance by Asset Class

The Legacy Fund is invested across multiple asset classes – equities, fixed income, real assets, and private markets - to diversify the portfolio and manage risk.

Asset Allocation and Performance (Net of Fees) - Period Ending: 06/30/2026

Asset Class

Benchmark

Invested Assets

% of Portfolio

Fiscal YTD

YTD

1 Yr

3 Yrs

5 Yrs

10 Yrs
Total Fund

$15,110,193,661

100.0

17.26

8.44

17.26

13.58

7.34

8.71

Policy Index

 

 

14.84

6.93

14.84

11.77

5.96

7.65

Corridor Target Index

 

 

15.94

7.45

15.94

12.54

6.44

7.89
   Total Equity

$8,896,456,447

58.88

25.95

12.72

25.95

20.16

11.08

-

Total Equity Blend

 

 

24.92

12.33

24.92

19.64

10.72

-
      Public Equity

$8,811,432,148

58.31

26.11

12.78

26.11

20.24

-

-

Public Equity

 

 

24.52

11.90

24.52

19.48

-

-
         Domestic Equity

$5,482,122,920

36.28

22.75

10.56

22.75

20.20

12.25

14.24

Russell 3000 Index

 

 

22.81

10.86

22.81

20.35

12.30

15.06
         International Equity

$3,329,309,228

22.03

30.39

15.45

30.39

19.87

9.23

10.88

MSCI AC World ex USA IMI (Net)

 

 

26.56

13.05

26.56

18.49

8.44

9.81
      Private Equity

$85,024,299

0.56

3.16

1.47

3.16

7.67

5.77

-

Private Equity

 

 

4.36

1.66

4.36

-

-

-
   Global Fixed Income

$4,454,351,137

29.48

5.68

2.25

5.68

6.08

1.76

3.31

Global Fixed Income Blend

 

 

4.50

1.09

4.50

4.84

0.48

1.74
   Total Real Assets

$1,145,519,526

7.58

6.09

5.06

6.09

2.86

3.27

-

Total Real Assets Blend

 

 

3.64

1.97

3.64

-

-

-
   In-State Investments

$524,944,256

3.47

16.28

4.86

16.28

-

-

-

In-State Investments

 

 

16.28

4.86

16.28

-

-

-
   Cash and Equivalents

$88,922,294

0.59

9.40

3.77

9.40

7.99

5.48

3.23

90 Day U.S. Treasury Bill

 

 

3.84

1.74

3.84

4.64

3.52

2.34

Asset-class returns may not be directly comparable because of differences in investment objectives, benchmarks, valuation timing and investment structures. All returns are percentages.

 

Benchmarks

Benchmarks, set with the help of an independent consultant, reflect the portfolio's structure and global market conditions. Comparing results against them shows whether the Fund is meeting its long-term objectives.

Performance vs. Benchmarks (Net of Fees) - Period Ending: 06/30/2026

Return Description

Fiscal YTD %

YTD %

1 Yr %

3 Yr %

5 Yr %

10 Yr %

5 Yr Volatility %
Total Fund Return

17.26

8.44

17.26

13.58

7.34

8.71

9.30
Policy Benchmark Return

14.84

6.93

14.84

11.77

5.96

7.65

9.60
Total Relative Return

2.42

1.51

2.42

1.81

1.38

1.06