 First being the volatile nature of the market at times. For example, look at the last two years of return of the 2023 market. Indices were very strong and the S&P gained 24.23%. This is against a drop of 19.44% in 2022. So the way the math works, this is a net gain of only 0.08% for the two-year return. Both numbers there are before dividends reinvested.