Given the huge rally we’ve seen in some areas of the market, it’s hard to believe that the S&P 500 SPY ETF is only up 1.35% since the close on Election Day. Below we take a look at the performance of various asset classes using key ETFs traded on US exchanges.
Notably, while the S&P 500 is up just 1.35%, the Dow 30 (DIA) is up 3.18%, while the Nasdaq 100 (QQQ) is down 1.65%. Year-to-date, the Nasdaq is now underperforming the S&P 500 and Dow. The opposite was the case at last Tuesday’s close.
We’ve seen smallcaps surge since Election Day as well. The Russell 2,000 (IWM) is up nearly 10% since Tuesday, leaving it up 15.5% YTD.
On a sector basis, the Financial sector has been the clear winner since Trump’s victory. The sector ETF (XLF) is up 11.21% since Tuesday, leaving it up 14.34% YTD. Up until last week, the Financials had been one of the worst performing sectors of the market in 2016, but now it’s one of the best. On the flip side, we’ve seen Consumer Staples, Technology and Utilities all post declines since Trump’s election.
Outside of the US, most countries have actually posted declines since Trump’s win, with Brazil (EWZ) and Mexico (EWW) dropping more than 14%. Natural gas has been the only commodity to post gains post-Trump, and of course, we’ve seen Treasury ETFs get crushed as interest rates have spiked.