Below is a look at the recent performance of global asset classes using ETFs traded on U.S. exchanges. For each ETF, we show its performance today (1/7/16), so far in 2016, and since the Fed hiked rates on 12/16/15.
As you’ll see on the left-hand side of the table, not one U.S. equity ETF is in the green over any of the three time periods shown. The Nasdaq 100 (QQQ) has gotten hit the hardest of any index ETF, falling 3.13% today and 7.99% since the rate hike on 12/16. Large-cap, small-cap, mid-cap — size hasn’t mattered at all during this sell-off, as all three market cap levels have fallen similar amounts.
Looking at the ten sectors, Utilities has held up the best, but it’s still down 0.62% post rate hike. Everyone expected the Financial sector to do well once the Fed finally moved, but the opposite has actually been the case, with the sector falling 8.14% — just barely less than the Energy sector’s drop of 8.27%. Technology and Materials have both gotten slaughtered post-Fed as well.
Not all asset classes have done poorly recently, though. Natural gas, gold and silver have all gained over all three time periods, and Treasuries have also moved higher.