The rally in global assets broadened in March, lifting nearly every slice of the major asset classes. The downside outlier: bonds in emerging markets. Otherwise, last month delivered a clean sweep of gains, based on a set of ETFs.
The Global Market Index (GMI) extended its winning streak for a fifth straight month in March, rising 2.8%. GMI is an unmanaged benchmark (maintained by CapitalSpectator.com) that holds all the major asset classes (except cash) in market-value weights via ETFs and represents a competitive benchmark for multi-asset-class portfolios. Year to date, GMI is proving to be a tough act to beat and is currently outperforming everything except commodities (GSG) and US stocks (VTI).GMI’s one-year performance is also strong, topping 22% through the end of March. US stocks (VTI) are even hotter, rising nearly 34% over the past year. Meanwhile, the US bond market (BND) continues to hold on to a modest 2.4% rise over the past 12 months.
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