2020 ETF Market Outlook


Position to Temper the Impact of Macro Volatility

With stocks and bonds expensive, as well as susceptible to macro-induced volatility shocks, focus on strategies with low correlations to traditional markets.

Source: Bloomberg Finance L.P., Calculations by SPDR Americas Research as of 11/8/2019. Past performance is not a guarantee of future results.

Source: Bloomberg Finance L.P., Calculations by SPDR Americas Research. Data from January 1, 1999  – October 31, 2019. Gold = gold spot price. Commodities = S&P GSCI Total Return Index, REITs = FTSE NAREIT All Equity REITS Total Return Index, Hedge Funds = HFRI FOF Diversified Index, Private Equity = LPX50 Listed Private Equity Total Return Index. Correlations based on monthly returns against a 60/40% allocation of the MSCI All-Country World Index Total Return Net Index and the Bloomberg Barclays Global Aggregate Bond Index, rebalanced monthly. Past performance is not a guarantee of future results.  

Source: Bloomberg Finance L.P., Calculations by SPDR Americas Research Data from 1/1/1990 - 11/08/2019. Past performance is not a guarantee of future results


Implementation Ideas




Footnotes
Glossary
Important Risk Discussion
Important Risk Information