First Half 2018 Asset Class Performance Matrix

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Includes: ASHR, EWZ, GLD, RSX, SLV, USO, XLB, XLE, XLF, XLI, XLK, XLP, XLY
by: Bespoke Investment Group

Below is our total return matrix highlighting the performance of various asset classes during the first half of 2018 from the perspective of a US investor focused on ETFs.

At the halfway point of 2018, small-caps have trumped large-caps, while growth has crushed value. Looking at sectors, Consumer Discretionary (NYSEARCA:XLY), Technology (NYSEARCA:XLK), and Energy (NYSEARCA:XLE) have been the best performers so far this year, while Consumer Staples (NYSEARCA:XLP), Financials (NYSEARCA:XLF), Materials (NYSEARCA:XLB), and Industrials (NYSEARCA:XLI) are solidly in the red.

Outside of the US, equity markets have struggled this year. Of the 14 country ETFs in our matrix, Russia (NYSEARCA:RSX) is the only one that finished the first half in the green, and it was in the green by just 14 basis points at that. Brazil (NYSEARCA:EWZ) and China (NYSEARCA:ASHR) enter the second half down on the year by 19.48% and 14.50%, respectively.

Looking at commodities, oil (NYSEARCA:USO) is up more than any asset class in our matrix at +25.40%. Gold (NYSEARCA:GLD) and silver (NYSEARCA:SLV) are both down 4%+. Treasury ETFs are down on the year as interest rates have risen.