Below is a snapshot of asset class performance so far in the month of November using key ETFs traded on U.S. exchanges. For each ETF, we also include its QTD (since the start of October) and YTD performance. The left-hand side of the matrix consists mostly of US equity ETFs, while the right-hand side consists of international equity ETFs, commodity ETF, and fixed income ETFs.
The S&P 500 SPY ETF is currently down just over 2% on the month, but it’s still up 6% on the quarter. Year-to-date, SPY is down 1.13%. The Nasdaq 100 (QQQ) is down 3% in November but remains up 6.5% YTD. So far this month, small-caps are actually outpeforming large-caps even in a down market, while value is slightly outperforming growth.
In terms of U.S. sectors, the two consumer sectors (XLY and XLP) have gotten hit the hardest, with Consumer Discretionary down 4.35% and Consumer Staples down 3.22%. The Financial sector (XLF) is down the least of any sector at -0.69%. For the quarter, Materials (XLB) and Energy (XLE) have posted the strongest gains, but these sectors have been two of the worst year-to-date.
Outside of the U.S., Brazil (EWZ) and Japan (EWJ) are the only two country ETFs that are positive in November, while India (INP) and Italy (EWI) are down the most. Year-to-date, Brazil (EWZ) has been by far the biggest loser, though, with a decline of 36%.
Commodities have gotten smoked in November, with the DBC commodities ETF down 6.7%. Oil (USO) is down 12.6% month-to-date, gold (GLD) is down 4.94%), and silver (SLV) is down 8.2%. Year-to-date, DBC is down 23%.
Finally, even the fixed income ETFs are down in November, with the 20+ year Treasury (TLT) leading the declines at -2.3%. For the year, TLT’s share price is down 4.75%.