After conducting this year's Quantitative Analysis of Investor Behavior (QAIB), Dalbar found that in 2012, investors experienced a less volatile and more easily navigable market. Despite this fact, it remained a market the average investor was unable to beat.

QAIB 2013 examines real investor returns in equity, fixed income and asset allocation funds. The analysis covers the 20-year period ending December 31, 2012, encompassing both the drop at the turn of the millennium, the crash of 2008 plus recovery periods of 2009, 2010 and 2012. This year’s report discusses the advantages of asset allocation and how an asset allocator should be evaluated for effectiveness.

Full Version Purchase of the full version includes unlimited rights to use all of the charts and data in a firm's marketing materials, as well as the following information: Analysis of investor returns versus the S&P 500 since the inception of QAIB One-year investor return data since 1993 An explanation of how investor returns are calculated

Advisor Edition Designed specifically to meet the needs of individual advisors, this version includes much of the same information, as well as the rights to redistribute printed versions of the report to clients. This version does not include the rights to replicate or reproduce charts and data elements or the additional report components indicated in the bullet list to the left. Rights to use selected data elements separately.

Municipal Bond Fund Returns Report This report contains investor returns on municipal bond funds over the last 20 years as compared with inflation and the Barclays U.S. Aggregate Bond Index for the same twenty year period. The report also contains the appropriate disclosures, a glossary and an example of an Investor Return Calculation.