Brokerage clients' portfolios yield 2.9% average return

The Bank of Russia's analysis of retail brokerage clients' portfolios revealed an average annual return of 2.9% between 2023 and 2025.

However, this figure masks a wide distribution of outcomes: 5% of investors recorded losses exceeding 10%, while a third either incurred smaller losses or merely preserved their capital without making gains.

The majority, 63%, achieved positive returns.

Among these, 41% generated modest returns of 0.1–6.7% p.a., falling below the Moscow Exchange's Russian Government Bond Index – Total Return (RGBITR).

Only 13% of investors surpassed this benchmark, with returns ranging from 6.71% to 17.2% p.a., the upper bound corresponding to the MOEX Russia Total Return Index (MCFTR).

A mere 9% of all retail clients exceeded these higher indicators.

Financial success in brokerage portfolios was found to correlate with an investor's age and experience.

Notably, investors who included units of unit investment funds in their portfolios achieved the best results, with an average return of 17.9% p.a. for non-qualified investors over the three-year period.

Conversely, derivatives were more likely to worsen clients' financial positions.

The Bank of Russia emphasizes that independent exchange traders should thoroughly understand financial instruments, realistically assess their risk appetite, and study issuer information.

For those lacking the time or desire to navigate the securities market's complexities, collective investment instruments or professional investment managers are recommended as better alternatives.