The US has had an incredibly strong 2021, especially when considering the headwinds the economy faced. Supply chain constraints, labor challenges, inflation, energy shortages, high oil prices, and new COVID variants all hindered the global economy this year. Nonetheless, since the start of the year, the SPDR S&P 500 ETF (SPY) has rallied over 25% YTD. While the US has been able to withstand the many headwinds, the same can’t be said for the rest of the world. The average performance for all of the other regions we looked at (Europe, Australia, Africa, Asia, and Latin America) was a loss of 3.4%. In 2021, there has been a huge divergence between the performance of developed markets and emerging markets. The US, Europe, and Australia have seen YTD gains of 15%+, while Africa, Asia, and Latin America have all seen pretty sizable declines. The US is on track to outperform both the rest of the world and emerging markets for the fourth consecutive year. Click here to view Bespoke’s premium membership options.