Commodities and stocks continue to drive solid gains in global asset allocation strategies in 2026, based on a set of ETFs tracking the major asset classes through Friday’s close. Upside momentum among the leading performers has stalled in recent weeks, however, as inflation concerns and geopolitical risks weigh on investor expectations. Even so, the data currently in hand leave little doubt that risk assets remain the primary source of strength, providing a favorable backdrop for diversified portfolios.