Another month, another new all-time high in the U.S. stock market. It seems Trump volatility hasn’t translated into the markets (Reformed Broker has a great article on why). Meanwhile, World Stocks continue to outpace U.S. Stocks, while the rest of the asset classes make minimal gains.

Outside the markets, systematic trend following strategies that mostly represent the SG CTA Index continue to struggle as rangebound futures markets persist in 2017. Finally, long-only commodities continue to lose money as there is no uptrend in the energy markets.

Source: All ETF performance data from Morningstar.com
Sources: Managed Futures = SocGen CTA Index, Cash = 13 week T-Bill rate,
Bonds = Vanguard Total Bond Market ETF (BND),
Hedge Funds= IQ Hedge Multi-Strategy (QAI)
Commodities = iShares GSCI ETF (GSG);
Real Estate = iShares DJ Real Estate ETF (IYR);
World Stocks = iShares MSCI ACWI ex US Index Fund ETF (ACWX);
US Stocks = SPDR S&P 500 ETF (SPY)