Our leaderboards are created to give you a quick sense of leaders and laggards in each of the major asset classes. From stocks to bonds to commodities, you’ll find everything you need to know right here. Watch for updates throughout the year as we strive to keep you informed.
US Equities
We continue to enjoy another big year for US stocks. If we stay on track, we’ll have completed three years in a row of solid double-digit gains.
S&P 500 High Beta (47% in tech stocks) is currently the top contender on the board, with S&P 500 Momentum (37% tech stocks, which is equal to the S&P 500’s weighting) right behind. Both are up over 25% YTD, but the S&P 500 High Beta Index had a strong 3-month period, while S&P 500 Momentum lagged the S&P 500 index.
As for the latest 3-month period winners, the long-awaited return of small caps may have finally arrived. Topping our board is the Russell 2000 Growth Index (25% tech), which was up over 13% for 3 months. Again, S&P 500 High Beta was right behind it in 2nd place.
Global Equities
Although the US markets have beaten International Markets in the majority of years since 2000, 2025 is shaping up to show the S&P 500 near the BOTTOM of this Leaderboard. A big portion of that outperformance was “front-loaded” at the beginning of the year and has tapered off, so we’ll have to see what happens during the next several weeks.
Emerging Markets Eastern Europe had the largest outperformance (the ETF universe currently has limited exposure) is up over 60% YTD. Latin America enjoyed a nearly 45% gain, with a handful of ETF options available.
For three months, Latin America continues to show solid performance, with Japanese equities hedged to the USD also showing outperformance.
Bonds
The majority of bond indices have enjoyed a solid year in 2025. With the main US Aggregate Bond Index seeing a > 6% total return as of 10/31/2025, this year looks to be a good one for bonds.
On the leaderboard, Convertibles are having a banner year, up over 20% YTD! That’s handily beating the S&P 500. 2nd place goes to Emerging Market Debt in Local Currencies, up over 16% YTD.
For the last three months, Convertibles are still number one, with gains of >10%. An interesting twist is the number two slot. Long-Term Munis kicked in a > 6% return, even though the category is in last place YTD. Keep an eye on that kind of move.
Commodities
Finally, we have the Commodities Leaderboard. Here is where the BIG numbers show up.
First off, look at those top blue bars. Platinum is up over 70% YTD! Silver is not far behind, up over 60%. The Bloomberg Sub-Category Precious Metals is up over 50%, with Gold anchoring the pack with a solid 50% gain. We haven’t seen a +50% move in Gold since 1979!
Even during the latest 3-month period, precious metals continued to “Shine!” Silver, Platinum, and Gold all delivered gains of over 20%.
Note: While we know commodity prices can play into future inflation, mostly only the energy-related and Livestock indices were subdued during the last three months. The Agriculture Index popped 5% from August through October, Industrial Metals over 10%, and the Copper Index was up over 15%.
We hope you enjoyed our updated Leaderboards. Watch for more market updates coming soon.