Spruce Index Returns September 2018

September saw wide dispersion in returns with gains in Japan, S&P 500, U.K. and Developed International stocks up +5.68%, +0.57%, +1.05%, and +0.54% respectively while REITs, Small Caps, Real Estate and Financials declined -2.45%, -2.41%, -2.65%, and -2.22%. Emerging Markets remained under pressure due to trade concerns, rising Dollar costs, and spiking oil prices with the core EM index declining -0.53% paced by India’s -7.15% and China’s -1.97%. Continuing with the theme of dispersion, last month’s EM losers turned out to be this month’s winners with Turkey +9.23%, Brazil +6.82% and Argentina +4.20%. Click to view full Spruce Index Returns September 2018.