Putting the Olympics on Hold Isn't Keeping ETF Investors From Going for Gold
Gold ETFs stood atop the podium in July.
Stocks ended July within spitting distance of their all-time high. At month-end, the Morningstar Global Markets Index--a broad gauge of global stock markets--had rebounded 40.5% from its recent low and sat just 4.5% below its mid-February peak. The index has declined 2.2% through the first seven months of the year. The bond market has stabilized since the U.S. Federal Reserve’s late-March intervention. After briefly dropping into negative territory earlier in the year, the Morningstar U.S. Core Bond Index was up 7.7% for the year to date by month’s end.
Here, I will take a closer look at how the major asset classes performed last month, where investors were putting their money, and which segments of the market look cheap and dear--all through the lens of exchange-traded funds.
Ben Johnson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.