April 2024 Index Returns

The Fed is widely expected to announce today that they will be keeping interest rates higher for longer as recent inflation data has come in hotter than expected while the most recent GDP figures were lower than expected.

In stocks (equities):

• Against this backdrop, all stock indexes we track were negative for the month, with the exception of emerging markets (0.4%).
• Non-US developed stocks (-2.7%) outperformed their US counterparts (-4.4%).
• US Small Cap Growth was the worst performing benchmark for the month (-7.7%). Both in the US and developed ex-US markets, value beat growth in small caps during April.
• Global REITs fell -6.5% over the month and have now fallen -8.0% YTD.

In fixed income (bonds):

• With rates increasing across most of the US Treasury curve, it is not surprising that bond returns were negative, with the exception of the 3 Month Tbill (0.4%).
• Across the 1-5, 5-10 and 10+ portions of the curve, munis outperformed corporates, which also beat out Treasuries for the month.

As always, 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.