Main asset classes: April 2022 performance review

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Red ink spread across nearly every slice of the major asset classes in April. Commodities were the exception, posting a solid gain. Otherwise, losses prevailed, based on a set of ETF proxies.

In particular, it is the same history for year-to-date results following last month’s losses. Everything But Commodities is down so far in 2022, with double-digit slips accounting for half of the declines.

The outlier on the rise: iShares S&P GSCI Commodity-Indexed Trust (GSG), which rose 4.5% last month and is ahead more than 38% in 2022. For globally diversified portfolios , commodities are the main (and in some cases the only) source of ballast for an increasingly bearish year. A second distant source of stability: cash (SHV), which was stable in April and slightly lagged since the start of the year.

The biggest loss of the past month: US stocks (VTI), which fell 9.1% in April and are in the 14% hole since the start of the year.

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The Global Market Index (GMI) resumed its decline in April. This unmanaged benchmark (maintained by CapitalSpectator.com), which holds all major asset classes (except cash) in market value weightings, fell 7.7% last month and is in down 14% so far for the year.

Looking at GMI’s performance against US stocks and bonds over the past year continues to reflect average performance for this multi-asset class benchmark (blue line in chart below). US stocks (VTI) lost 3.5% for the one-year window. A large measure of US bonds – Vanguard Total US Bond Market (BND) – lost even more, falling 8.7%. RMG was down 7.0% for the year to the April close.

Wealth indices: GMI vs. US stock and bond markets

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Editor’s note: The summary bullet points for this article were chosen by the Seeking Alpha editors.

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