Sell in May and go away didn’t come to fruition at least in the month of May, as US equities had its best month of the year since January. Three days last month saw gains of more than 1% and one saw a decline of -1% or more. World Stocks struggled with its performance fueled off of uncertainty in Italy and Spain.
Meanwhile, Long Only Commodities continue their consistent uptrend on the back of an uptrend in the U.S Dollar Index, now up +8.67% on the year. We will have to wait and see if the crude oil pullback drags down this performance in June or whether there will be a bounce back in the coming weeks.
Finally, Managed Futures hasn’t found the alpha they need to recover from February’s loses. The second half of 2018 awaits!
Source: All ETF performance data from Morningstar.com
Sources: Managed Futures = SocGen CTA Index, Cash = 13 week T-Bill rate,
Bonds = Vanguard Total Bond Market ETF (BND),
Hedge Funds= IQ Hedge Multi-Strategy (QAI)
Commodities = iShares GSCI ETF (GSG);
Real Estate = iShares DJ Real Estate ETF (IYR);
World Stocks = iShares MSCI ACWI ex US Index Fund ETF (ACWX);
US Stocks = SPDR S&P 500 ETF (SPY)
The performance data displayed herein is compiled from various sources, including BarclayHedge, RCM's own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
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