Year-To-Date Returns For Major Asset Classes Continue To Fade
A mixed run for markets last week offered a partial reprieve, but the trend profile still skews negative overall, based on a broad measure of the major asset classes via a set of ETFs.
The Global Market Index (GMI) fell again in the trading week through Friday, Oct. 27, marking the fifth weekly decline in the past six. Year to date, GMI is still posting a modest 3.4% gain, but the slide from summer highs appears to be ongoing as 2023 approaches the final two months of the year. GMI is an unmanaged benchmark that holds all the major asset classes (except cash) in market-value weights via ETFs and represents a competitive measure for multi-asset-class-portfolio strategies.?