In stocks (equities):
- While the MSCI ACWI gained 1.4% during April, stocks experienced mixed results across the globe
- US large cap stocks (core, growth, value) were all positive
- US small cap stocks (core, growth, value) were all negative
- Non-US developed (large and small cap) and frontier stocks were positive while emerging market stocks declined
- Non-US developed large cap stocks (2.8%) outperformed the S&P 500 (1.6%) during April, and also leads on a YTD and 1 yr basis (11.5% vs. 9.2%)
- Non-US REITS (3.4%) saw the largest increase for the month across equity indexes but remains as the worst performing benchmark over the last 3 years (4.0%)
- While the Russell 2000 Value had the lowest equity index return for the month (-2.5%), it still has the highest equity index return over the last 3 years (15.4%). Not shown are the fact that the S&P 600 Value (19.1%), Dimensional Small Cap Value (DFSVX) (24.2) and Avantis Small Cap Value (AVUV) (26.9%) have all outperformed the Russell 2000 Value over the last 3 year time period.
In bonds (fixed income):
- All fixed income benchmarks shown were positive with the exception of 1-5 yr (-0.4%) and 5-10 yr munis (-0.2%), which declined slightly
- All fixed income benchmarks shown have a positive YTD return, though more than a handful still have a negative 1 yr return
- Corporates have outperformed Treasuries in all time periods 1 yr and longer, across the maturity spectrum
- The ICE BofA 1-5 yr US Inflation Linked Treasury Index ) (2.9%) is the second highest bond index over the last 3 years; it was only beaten by high yield (4.7%) which we know is more correlated to stock returns.
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.