October 2025 kicked off the fourth quarter with solid momentum across most asset classes. U.S. Stocks advanced+2.38% and World Stocks rose+2.06%. These gains pushed year-to-date returns to impressive levels, with U.S. Stocks up +17.38% and World Stocks leading all assets at +29.01%.

Managed Futures posted their third consecutive monthly gain, rising +1.47% as they continued recovering from earlier challenges, though they remain down -1.43% year to date. Commodities added +1.04% in October, bringing their year-to-date return to +6.61%.

Hedge Funds delivered modest gains of +0.69%, extending their year-to-date return to +7.80%. Bonds also advanced with a +0.60% return, strengthening their 2025 performance to +6.79%.

U.S. Real Estate was the only major asset class in negative territory for October, falling -2.49%, though it maintains a  positive +3.30% return for the year. Cash continued its steady performance with a +0.32% gain, bringing its year-to-date return to +3.57%.

As the final quarter begins, World Stocks maintain their strong lead while most asset classes remain in positive territory for 2025.

Past performance is not indicative of future results.

Past performance is not indicative of future results.

Sources: Managed Futures = SocGen CTA Index,
Cash = US T-Bill 13 week coupon equivalent annual rate/12, with YTD the sum of each month’s value,
Bonds = Vanguard Total Bond Market ETF (NYSEARCA:BND),
Hedge Funds = IQ Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI)
Commodities = iShares S&P GSCI Commodity-Indexed Trust ETF (NYSEARCA:GSG);
Real Estate = iShares U.S. Real Estate ETF (NYSEARCA:IYR);
World Stocks = iShares MSCI ACWI ex-U.S. ETF (NASDAQ:ACWX);
US Stocks = SPDR S&P 500 ETF (NYSEARCA:SPY)

All ETF performance data from Y Charts