Most Markets Retreated Last Week

Most Markets Retreated Last Week


Nearly every slice of the retreated in the trading week through Friday, Sept. 10, based on a set of ETFs. The upside exception: US inflation-indexed Treasuries.

The iShares TIPS Bond ETF (NYSE:) rose 0.4% last week, providing a rare bit of upside action in an otherwise down week for markets around the world. Nonetheless, TIP appears to be churning in a range after a strong rise earlier in the year.

TIP Weekly Chart

Otherwise, losses dominated. The biggest decline last week for the major asset classes: US real estate investment trusts (REITs). Vanguard Real Estate Index Fund ETF Shares (NYSE:) fell a hefty 4.1%, reversing the previous week’s surge.

VNQ Weekly Chart

A benchmark portfolio that holds all the major asset classes retreated last week. The Global Market Index (GMI.F) fell 1.3%, marking the first weekly decline in three weeks. This unmanaged benchmark (maintained by CapitalSpectator.com) holds all the major asset classes (except cash) in market-value weights via ETF proxies.

ETF Weekly Returns

ETF Weekly Returns

Reviewing asset classes via the one-year window continues to show US stocks in the lead. Vanguard Total Stock Market Index Fund ETF Shares (NYSE:) ended the week with a 38.1% total return.

VTI’s leading one-year performance is just slightly ahead of the 36.7% total return for Vanguard Real Estate (VNQ), the second-strongest gainer over the past 12 months.

The weakest one-year performance for the major asset classes: foreign government bonds in developed markets (in US dollar terms) via SPDR® Bloomberg Barclays International Treasury Bond ETF (NYSE:), which is down a fractional 0.3%.

GMI.F’s one-year performance: a strong 25.1%.

ETF Yearly Returns

ETF Yearly Returns

Looking at the major asset classes in terms of the current drawdown continues to show most markets with little or no declines relative to the previous peaks. The main exceptions: commodities via WisdomTree Continuous Commodity Index Fund (NYSE:) and stocks and bonds in emerging markets—VanEck J.P. Morgan EM Local Currency Bond ETF (NYSE:) and Vanguard FTSE Emerging Markets Index Fund ETF Shares (NYSE:), respectively.

GMI.F’s current drawdown is a mild -1.3%.

Current Drawdowns

Current Drawdowns

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