The major asset classes dispensed a wide range of performances last week, based on a set of proxy ETFs. Although losses dominated the five trading days through October 7, a handful of markets bucked the trend, led by equities in emerging markets. But the week was overshadowed by the red ink brigade, with US real estate investment trusts (REITs) suffering the biggest setback.
At the top of the list for the winners was the Vanguard FTSE Emerging Markets ETF (VWO), which ticked higher by 0.8%. Meanwhile, last week's biggest loser, the Vanguard REIT Index ETF (VNQ), shed more than 5% in total return terms.
The negative bias in last week's trading weighed on an ETF-based version of the Global Markets Index (GMI.F), an investable, unmanaged benchmark that holds all the major asset classes in market value weights. GMI.F lost 0.9% in the five trading days through Friday.
The correction in…