Major Asset Classes | July 2024 | Performance Review
US real estate investment trusts led a widespread rally in July for the major asset classes. The only laggard: commodities, which fell last month. Otherwise, global markets rallied across the broad for the start to the third quarter, based on a set of ETF proxies.
Vanguard Real Estate ETF (VNQ) rose 7.9% in July, easily eclipsing the rest of the field. The rally marked the third straight monthly advance for the ETF. Notably, foreign property shares (VNQI) posted the second-best performance last month via a 5.0% increase. Property shares on a global basis, in short, dominated July’s rally.