Below is a look at our asset class performance matrix using key ETFs included in our daily ETF Trends (Subscription required) report. For each ETF, we include its performance in May, so far in Q2, and year to date. Equities are down across the board in May, with the worst pullbacks coming outside of the U.S. in countries like Brazil, Canada, Mexico, Spain, Russia and the U.K. In the U.S., major indices are down roughly 1% across the board, and sectors like Energy, Materials and Telecom are down 2%+. The Consumer Staples and Utilities sectors are the only ones higher so far this month.
For Q2, the Nasdaq 100 (NASDAQ:QQQ) and the Tech sector (NYSEARCA:XLK) have been clear areas of pain, while the Energy sector is leading with a gain of 6%. Commodities are up nicely in Q2, with oil and silver leading the way. On a year-to-date basis, Brazil has posted a monstrous 33.85% gain. Gold and silver are the next best performers, with gains of 21.8% and 26.5%, respectively. The S&P 500 (NYSEARCA:SPY) is as close to flat as it gets on the year with a gain of 26 basis points.