Recent Asset Class Performance

by: Bespoke Investment Group

The S&P 500 (NYSEARCA:SPY) has bounced back 4.5% since the close last Monday. Below is a look at the recent performance of various asset classes using key ETFs from our daily ETF Trends report. As shown, the Nasdaq 100 has bounced the most of the major US equity indices at +5.35%. This move higher has left QQQ up 0.95% year-to-date, even as the Dow and S&P 500 remain lower for the year. Interestingly, the Smallcap 600 ETF (NYSEARCA:IJR) has only bounced 2.75% since 2/3, and it's still down 4.1% year-to-date. Bulls like to see smallcaps outperform when the market rallies, so this is something to keep an eye on.

On a sector basis, Materials (NYSEARCA:XLB) and Consumer Discretionary (NYSEARCA:XLY) are up the most since the lows on 2/3, while Utilities (NYSEARCA:XLU) is up the least. Even with the small gains during the bounce back, though, Utilities remains the best performing sector so far this year with a gain of 4.13%.

The US has certainly experienced a nice bounce-back rally since last Monday, but it pales in comparison to the rallies seen in many international markets. Countries like Australia (NYSEARCA:EWA), Brazil (NYSEARCA:EWZ), Italy (NYSEARCA:EWI) and Russia (NYSEARCA:RSX) are all up more than 7% since last Monday, while the emerging markets ETF (NYSEARCA:EEM) is up 5.44%. Even still, EEM remains down 6.38% year-to-date, so it has a lot of work to do to get back to even.

As "risky" assets have rallied, Treasuries have pulled back. The biggest area of red in our ETF matrix is at the bottom right corner, which includes Treasury and other fixed income ETFs. The 20+ year Treasury ETF (NYSEARCA:TLT) is down 2.61% since last Monday. Year-to-date, though, it's still up 4.53%.

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