Which investment is typically considered the least risky?

Bonds are typically considered the least risky investment among the options provided. This is primarily due to their nature as debt instruments, which means that when you purchase a bond, you are lending money to an entity (such as a corporation or government) in exchange for periodic interest payments and the return of the bond's face value when it matures. Bonds, especially government bonds, are generally viewed as safe investments because they have a predictable income stream and a lower likelihood of default compared to equities and other assets.

In contrast, stocks can be quite volatile and subject to market fluctuations, which increases their risk profile. Real estate carries risks associated with market conditions, property maintenance, and liquidity issues, making it less stable compared to bonds. Commodities are also highly volatile due to factors such as supply and demand dynamics, geopolitical events, and natural disasters, which can cause significant swings in price.

Given these characteristics, bonds are recognized for their relative stability and lower risk, which makes them a common choice for conservative investors seeking to preserve capital while earning a fixed return.