October was another rough for global markets. With the exception of cash, all the major asset classes fell last month – the third straight month of red ink for all but a handful of markets, based on a set of ETF proxies.), a cash proxy, rose 0.4% in October — the lone gainer among the major asset classes. For the year to date, SHV is up 4.0%, outperforming all the funds that comprise the major asset classes except US stocks suffering the deepest cut. Vanguard Global ex-U.S.
Given the bearish winds blowing anew, it’s no surprise that the Global Market Index fell for a third month in October, shedding 2.5% for the month. This unmanaged benchmark holds all the major asset classes in market-value weights and represents a competitive benchmark for multi-asset-class portfolios. Despite the latest declines, GMI is holding on to a moderate 4.8% year-to-date gain – outperforming all its component markets except for the 9.4% year-to-date gain for US shares .
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