June 2023 Monthly Index Returns

Happy July, we hope everyone has some wonderful plans to celebrate July 4.

In stocks (equities):

  • During June, all stock indexes shown were positive with the exception of non-US REITs.  
  • The MSCI ACWI, the standard global equity benchmark, rose 5.8% in June, which covered most of its 6.2% increase for Q2, while it has risen 13.9% YTD.
  • Small growth (R2000) led the way in June with an 8.3% return.  Small Value (R2000V) was not far behind, gaining 7.9%  
  • The MSCI EAFE was up 4.6% for June and 11.7% YTD, though it still trails the S&P 500 over those same time periods.

In bonds (fixed income):

  • Bond returns were mixed in June and over Q2, though all FI indexes we track continue to be positive on a YTD basis.
  • In June, munis generated positive returns across the various maturity buckets of the yield curve while Treasuries generated negative returns across the yield curve, highlighting how different yield curves can act and react.
  • The Bloomberg Global Agg ex-US (hedged USD) gained 0.2% in June and 3.6% YTD.  In fact, the benchmark has outperformed the US Agg over all of the time periods shown.  As a reminder, we hold non-US bonds for diversification, expecting that while we may receive returns similar to US bonds, the diversification properties will allow us to earn a higher risk adjusted return over time.
  • With their equity-like characteristics, HY has been the highest returning FI benchmark all over major time periods shown.

Please let us know if you have any questions by emailing Support@xyinvestmentsolutions.com

As an additional note, please keep in mind that these reflect historical performance of the current models, not necessarily how accounts were invested in the past.

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