SP500 - 2026S&P 500SP:SPXjplirani77BUY AND HOLD **Returns 2022–2025:** - 2022 was rough: -19.44%, with only Energy (+59%) as the lone sector in the green - 2023 and 2024 were exceptional back-to-back years at +24.23% and +23.31% respectively, driven by Communication Services - 2025 closed at +16.39%, despite a VIX spike to 60.13 in April over tariffs **Volatility:** Much lower than Bovespa — intraday daily volatility in 2024 was just 0.91% vs the historical average of 1.40%, rising to 1.18% in 2025. **Buy & Hold verdict — Strong ✅:** - The 10-year CAGR is 11.3% and the 5-year average is 13.6% — a $10k investment in early 2022 grew to ~$12,070 by end of 2025 despite the bear year - The 3-year total return (2023–2025) was 88.11%, annualized at 23% - Goldman and JP Morgan see 2026 returning ~10–12%, which would mark a fourth consecutive positive year The main risk for you as a EUR-based investor: currency (EUR/USD) and the Mag-7 concentration. Low-cost ETFs like VOO or an equivalent UCITS fund (IUSA, CSPX) are the cleanest execution vehicles.