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- All equity indexes shown were negative for November, with the exception of the R1000G, which eked out a 0.6% return.
- While growth beat value in the large cap space in November, it was the opposite in small caps. This has been a trend as YTD, the R2000V has increased 23.2% while the R2000G has only gained 2.4%.
- It appears the indexes broadly fell across the last handful of trading days during the month. For example, the S&P 500 had a +2.2% return as late as November 25 but closed the month down -0.7%, as omicron became a covid-19 variant of concern, negatively impacting equity markets.
- YTD, all equity indexes shown are positive with the exception of emerging markets (-4.3%).
In fixed income:
- Fixed income indexes were broadly positive in November with the exception of those that are more corporate-specific with the 1-5 Yr and 5-10 Yr Corporate benchmarks falling -0.2% and -0.1% respectively, while high yield fell -1.0%.
- The ICE BofA 10+Yr Treasury gained the most during November, increasing by 2.7%. Opposite to the comment made above regarding the S&P 500, this benchmark was actually down -0.5% on November 25 but the 30 Yr Treasury yields fell dramatically towards the end of the month from 1.96% on November 24 to 1.78% on November 30.
- YTD, fixed income returns are mixed with munis, ST inflation-linked and high yield being positive, while the rest are negative.
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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.