Red ink swept over monthly results for most of the major asset classes in November. The two exceptions: US investment-grade bonds and inflation-indexed Treasuries. Otherwise, losses dominated global markets last month, based on a set of proxy ETFs.
Inflation-indexed Treasuries (TIP) topped performance list in November with a 0.9% gain. A broad measure of US bonds (BND) was in second place with a 0.2% return.
Elsewhere, losses held sway. The biggest setback: a broad measure of commodities (GCC), which tumbled 5.5%.
The downside bias of late has pulled more asset classes into the red for year-to-date results. US real estate investment trusts (VNQ) and US stocks (VTI) are the upside outliers, but gains for the year are becoming increasingly scarce across global markets as 2021’s close approaches.
The Global Market Index (GMI) was caught in November’s correction. This unmanaged benchmark (maintained by CapitalSpectator.com), which holds all the major asset classes (except cash) in market-value weights, slumped 1.9% last month. Year to date, however, GMI is still comfortably in positive territory via a solid 10.8% increase.
Comparing GMI to US stocks and bonds still shows a strong middling performance over the trailing one-year period vs. a potent rally for US stocks (VTI) vs. a flat to slightly sliding performance for US bonds (BND) over the trailing 12-month window (252 trading days).
Learn To Use R For Portfolio Analysis
Quantitative Investment Portfolio Analytics In R:
An Introduction To R For Modeling Portfolio Risk and Return
By James Picerno