The numbers for April were good for managed futures… and for every other asset class we track that isn’t named “Commodities.” It was nice to see our favorite asset class post a fifth consecutive month of gains per the Newedge CTA Index – despite February nearly breaking that streak. But even bigger gains in stocks and real estate left managed futures in the middle of the pack. (Disclaimer: past performance is not necessarily indicative of future results.

Almost as impressive as the gains for real estate and stocks was the nosedive taken by the commodity index. It plunged from up 0.34% YTD in March down to -4.57% in April. That downturn contributed to some of the gains in managed futures, thanks to managers’ short positions in the falling commodity markets. Is it time for asset allocators to start rethinking long-only commodity exposure?

Disclaimer: past performance is not necessarily indicative of future results.
Managed Futures = Newedge CTA Index, Cash = 13 week T-Bill rate,
Bonds = Vanguard Total Bond Market ETF (BND), Hedge Funds = DJCS Core Hedge Fund Index
Commodities = iShares GSCI ETF (GSG), Real Estate = iShares DJ Real Estate ETF (IYR)
World Stocks = MCSI World Index (ex USA), US Stocks = S&P 500