Key Takeaways
- • The UBS Asset Management Unified Global Alternatives (UGA) Hedge Fund Bulletin reports returns as of June 30, 2026, with the HFRI Equity Hedge (Total) Index up 10.60% quarter-to-date and 10.06% year-to-date.
- • The MSCI World Total Return (Net USD) index fell 0.72% in June 2026 but is up 13.76% quarter-to-date and 9.69% year-to-date.
- • Bloomberg Commodity Index Total Return dropped 8.54% in June 2026, though it remains up 14.36% year-to-date.
- • HFRI Macro: Systematic Diversified Index posted 9.05% year-to-date, with a 1-year annualized return of 17.67%, the strongest among the macro sub-strategies tracked.
- • The bulletin is a monthly publication from UBS Asset Management (Americas) LLC, and its figures are presented for information purposes only and do not constitute investment advice.
Summary
UBS Asset Management's Unified Global Alternatives (UGA) Hedge Fund Bulletin provides a monthly performance snapshot across public and hedge fund benchmarks, with data as of June 30, 2026. The source table lists June monthly returns, quarter-to-date (QTD), year-to-date (YTD), and annualized returns over 1, 3, 5 and 10 years, along with 10-year volatility.
In equities, the MSCI World Total Return (Net USD) index declined 0.72% in June after gaining 4.55% in May and 9.59% in April. Despite the June decline, it remains up 13.76% QTD and 9.69% YTD, with a 1-year annualized return of 21.34%. Within hedge fund strategies, the HFRI Equity Hedge (Total) Index rose 1.26% in June and 10.60% QTD, and posted a 1-year annualized return of 21.43%. The HFRI Event-Driven (Total) Index gained 1.23% in June and 7.29% QTD, while the HFRI Relative Value (Total) Index returned 0.25% for the month and 2.05% QTD.
Macro strategies were mixed. The HFRI Macro (Total) Index fell 1.49% in June but was up 6.12% YTD. The HFRI Macro: Systematic Diversified Index declined 1.42% in June yet gained 9.05% YTD and 17.67% over one year. The HFRI Fund of Funds Composite Index returned 0.56% in June and 7.87% YTD. The HFRI ED: Credit Arbitrage Index fell 1.38% in June, though it posted a 1-year annualized return of 5.70%.
Fixed income and commodities diverged. The FTSE US Broad Investment-Grade Bond Index returned 0.22% in June and 0.65% YTD, while the Barclays Global High Yield Index gained 0.20% in June and 2.14% YTD. The Bloomberg Commodity Index Total Return fell 8.54% in June, reducing its QTD return to -8.08%, although it remains up 14.36% YTD.
According to the bulletin's disclaimer, the data is sourced from UGA - Hedge Funds, Bloomberg, Barclays Live and HFR. The document is prepared by UBS Asset Management (Americas) LLC, and the publication states that historical performance and market scenarios are not reliable indicators of future performance.
In equities, the MSCI World Total Return (Net USD) index declined 0.72% in June after gaining 4.55% in May and 9.59% in April. Despite the June decline, it remains up 13.76% QTD and 9.69% YTD, with a 1-year annualized return of 21.34%. Within hedge fund strategies, the HFRI Equity Hedge (Total) Index rose 1.26% in June and 10.60% QTD, and posted a 1-year annualized return of 21.43%. The HFRI Event-Driven (Total) Index gained 1.23% in June and 7.29% QTD, while the HFRI Relative Value (Total) Index returned 0.25% for the month and 2.05% QTD.
Macro strategies were mixed. The HFRI Macro (Total) Index fell 1.49% in June but was up 6.12% YTD. The HFRI Macro: Systematic Diversified Index declined 1.42% in June yet gained 9.05% YTD and 17.67% over one year. The HFRI Fund of Funds Composite Index returned 0.56% in June and 7.87% YTD. The HFRI ED: Credit Arbitrage Index fell 1.38% in June, though it posted a 1-year annualized return of 5.70%.
Fixed income and commodities diverged. The FTSE US Broad Investment-Grade Bond Index returned 0.22% in June and 0.65% YTD, while the Barclays Global High Yield Index gained 0.20% in June and 2.14% YTD. The Bloomberg Commodity Index Total Return fell 8.54% in June, reducing its QTD return to -8.08%, although it remains up 14.36% YTD.
According to the bulletin's disclaimer, the data is sourced from UGA - Hedge Funds, Bloomberg, Barclays Live and HFR. The document is prepared by UBS Asset Management (Americas) LLC, and the publication states that historical performance and market scenarios are not reliable indicators of future performance.
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