For the rest of the year, investors should not change their risk profiles to chase higher yields, even in the current low-yield environment, said Brett Wander, chief investment office of fixed income at Charles Schwab Investment Management.

Similarly, his colleague, Omar Aguilar, chief investment officer of equities at Charles Schwab Investment Management, said investors should remain consistent in their investment philosophy because volatility will continue.

“The stock market is like a roller coaster that goes up and down and ends up in the same place,” Aguilar said, who along with Wander spoke during the Schwab mid-year outlook web conference Tuesday.

Even though U.S. fixed-income yields are low, they are still the highest yielding globally, so it merits investors sticking with them, Wander added.

The odds of a U.S. recession are low for the rest of the year, Aguilar added. Equity earnings will remain low and the sectors that will see the most growth are automobiles, homebuilders and the health care industry, while transportation, utilities and staples are overpriced, he said.

They also touched November presidential election's potential impact on the market.

Historically, markets do better when a Democrat wins the presidency and when Republicans win Congress, said Aguilar, adding that election years are usually good years for the market.

Brexit pushed out the timing for an interest rate hike by the Federal Reserve Board until at least December if not into 2017, Wander said. The Fed will wait to see the long-term effects of the British exit from the European Union and to see if other countries start to push for separation, he added.