Sources: Capital Group, J.P. Morgan, MSCI, Refinitiv Datastream, Standard & Poor's. Relative returns and change in the USD index are measured on a cumulative total return basis in USD. The U.S. dollar index reflects J.P. Morgan's USD Real Broad Effective Exchange Rate Index, which is re-based to 100 as of 2010. As of May 31, 2023. Past results are not predictive of results in future periods.