Monthly Market Data - May 2026

Equites generated solid gains; commodities pulled back

Asset Class Returns

Major Asset Class Returns - Month Ending May 31, 2026

• Commodities declined in May, a reversal of the strong positive trend over the past few months. The drop in the price of Oil was a major factor in Commodities' decline.

• All equity markets were positive. Emerging Markets had the strongest month, followed by U.S. Large Cap. International Developed had the weakest gain among global equity markets.

• Fixed Income had a marginal decline of four basis points.

• Real Estate appreciated by les than one-half percent.

The table below depicts the same information as above and shows which representative security is used for each asset class.

Source: Jackson Creek Investment Advisors; S&P Global

Major Asset Class Returns - Twelve Months Ending May 31, 2026

• All eight asset classes have a positive trailing twelve-month return.

• Emerging Markets equities took the lead as the asset class with the best twelve-month return. EM equities rose 54.34% since the end of last May.

• The drop in Commodities during May makes it the second-best performing asset class over the past year. Despite May's 7% decline, Commodities have returned 50.21%.

• U.S. Small Cap equities round out the top three with a 43.15% trailing twelve-month return.

• Fixed Income gained 4.68%. Real Estate gained 16.65%.

U.S. Index Returns with Growth & Value Styles

• Growth outperformed Value within each capitalization range. Within Growth segments, Large Cap was the top performer, followed by Small Cap Growth, and then Mid Cap Growth.

• Within each style, Large Cap outperformed Small Cap, which outperformed Mid Cap. The Russell 1000 gained 5.1%, the Russell 2000 gained 4.4%, and the Russell MidCAp gained 2.9%.

• The largest spread between Growth and Value occurred in the large cap universe.

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Interest Rates

• The yield curve pushed higher at every maturity greater than one month, where it remained unchanged.

• Yield increases were more pronounced in the belly of the curve. The 3YR maturity increased the most (+15 basis points).

• The widely watched 10YR yield ended at 4.45%.

• The 2Y/10Y spread narrowed to 0.47%.

• The smaller spread, relative to last year and last month, resulted from the 2YR (+10 basis points) increasing more than the 10YR (+5 basis points).

Disclaimer - this is not to be construed as investment advice or a recommendation to buy or sell any security. This is not meant to be indicative of any specific portfolio returns. Please see full disclosure on main blog page.