In exchange for being one of the only assets up in Q1, would you trade being down in Q2?  That’s the position managed futures finds itself in after a 2nd straight month of being the only red on the board. Elsewhere, it was RISK ON across the board – although at much smaller levels than May, as stocks and hedge funds creeped closer to positive on the year. And just like that, one of the most volatile first halves of the year any of us can remember is done. What will the second half bring? We can’t wait to see!

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Past performance is not indicative of future results.

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Past performance is not indicative of future results.

Sources: Managed Futures = SocGen CTA Index,

Cash = US T-Bill 13 week coupon equivalent annual rate/12, with YTD the sum of each month’s value,
Bonds = Vanguard Total Bond Market ETF (NYSEARCA:BND),
Hedge Funds = IQ Hedge Multi-Strategy Tracker ETF (NYSEARCA:QAI)
Commodities = iShares S&P GSCI Commodity-Indexed Trust ETF (NYSEARCA:GSG);
Real Estate = iShares U.S. Real Estate ETF (NYSEARCA:IYR);
World Stocks = iShares MSCI ACWI ex-U.S. ETF (NASDAQ:ACWX);
US Stocks = SPDR S&P 500 ETF (NYSEARCA:SPY)

All ETF performance data from Yahoo Finance.