Knowledge Center

The Wilshire Advisor Solutions Knowledge Center contains our video presentations, white papers, monthly and quarterly market commentaries, and product literature.

MORE IN THIS CATEGORY: Market Commentary, Commentary
25 Latest Articles

  February 2018 Monthly Market Commentary

U.S. Economy and Markets

  • Domestic equity markets were negative in February, as the Wilshire 5000 Total Market IndexSM and the S&P 500 Index both fell -3.69%.
  • Market volatility picked up significantly in February, as the CBOE Volatility Index (VIX) ended the month at 19.85, an increase from its January close of 13.54.
  • Performance across GICS sectors was mostly negative for the month, with the Information Technology sector leading the group, gaining 0.22%. All other sectors declined, with the Energy and Consumer Staples sectors trailing the group in February, dropping -10.63% and -7.64%, respectively.
  • Large cap stocks continued to outperform their small cap counterparts this month, with the Wilshire U.S. Large Cap IndexSM and the Wilshire U.S. Small Cap IndexSM returning -3.63% and -4.22%, respectively.
  • The S&P 500 Index posted its first decline in 15 months and its worst February performance since February 2009.

International Economy and Markets

  • International markets, as measured by the MSCI EAFE Index, returned -4.51%. Emerging markets also declined in February, with the MSCI Emerging Markets Index falling -4.61%.
  • Asian markets led international markets with the MSCI Japan Index returning -1.51% and the MSCI Pacific Index falling -2.09%.

Fixed Income/Real Estate/Commodities

  • The 10-year U.S. Treasury yield rose again this month, ending February at 2.87%, up from 2.72% in January.
  • The Bloomberg Barclays U.S. Aggregate Index declined -0.95% in February.
  • The Bloomberg Barclays Long-Term Treasury Index continued to decline, returning -3.16%, while the Bloomberg Barclays U.S. TIPS Index also fell, returning -3.00% in February.
  • U.S. real estate posted negative returns in February, with the Wilshire U.S. Real Estate Securities IndexSM falling -7.58%. International real estate securities also posted negative returns, with the Wilshire Global ex U.S. Real Estate Securities IndexSM dropping -5.75%.
  • Commodities posted negative performance in February, with the Bloomberg Commodity Index returning -1.73%.

Alternatives

  • The Wilshire Liquid Alternatives IndexSM returned -2.15% in February. The Wilshire Liquid Alternative Event Driven Index and the Wilshire Liquid Alternative Relative Value Index were the best performers this month, returning 0.06% and -0.59%, respectively.
  • The Wilshire Liquid Alternative Global Macro IndexSM returned -4.04%.

GICS Sector Returns*

Wilshire 5000 Index
As of 2/28/2018
MTD (%) QTD (%) YTD (%) 1 Year (%)
Consumer Discretionary -3.61 4.54 4.54 23.85
Consumer Staples -7.64 -6.11 -6.11 4.47
Energy -10.63 -7.73 -7.73 -6.35
Financials -2.72 2.85 2.85 23.35
Health Care -4.20 2.16 2.16 22.94
Industrials -4.29 0.32 0.32 20.50
Information Technology 0.22 7.88 7.88 42.27
Materials -4.92 -1.61 -1.61 16.19
Real Estate -7.02 -9.64 -9.64 -1.60
Telecommunications Services -6.83 -6.32 -6.32 -4.86
Utilities -3.95 -6.99 -6.99 3.53

*GICS Sector returns for the Wilshire 5000 Total Market IndexSM. Source: Wilshire AtlasSM.

North American Equity

  MTD (%) QTD (%) YTD (%) 1 Year (%)
Wilshire 5000 Total Market IndexSM -3.69 1.37 1.37 16.18
Standard & Poor’s 500 -3.69 1.83 1.83 17.10
Standard & Poor’s/TSX (CAD) -3.02 -4.37 -4.37 3.23

U.S. Equity by Size/Style

  MTD (%) QTD (%) YTD (%) 1 Year (%)
Wilshire U.S. Large Cap IndexSM -3.63 1.71 1.71 16.98
Wilshire U.S. Large Cap Growth IndexSM -2.56 4.47 4.47 24.10
Wilshire U.S. Large Cap Value IndexSM -4.74 -1.03 -1.03 10.25
Wilshire U.S. Small Cap IndexSM -4.22 -1.90 -1.90 8.63
Wilshire U.S. Small Cap Growth IndexSM -3.38 0.43 0.43 16.51
Wilshire U.S. Small Cap Value IndexSM -5.09 -4.25 -4.25 0.96
Wilshire U.S. Micro Cap IndexSM -3.58 -2.65 -2.65 11.83

International Equity (USD)

  MTD (%) QTD (%) YTD (%) 1 Year (%)
MSCI AC World ex U.S. -4.72 0.59 0.59 21.63
MSCI EAFE -4.51 0.28 0.28 20.13
MSCI Europe -5.88 -0.79 -0.79 20.54
MSCI Pacific -2.09 2.16 2.16 19.85
MSCI Japan -1.51 3.01 3.01 21.77
MSCI EM (Emerging Markets) -4.61 3.34 3.34 30.51

International Equity (Local Currency)

  MTD (%) QTD (%) YTD (%) 1 Year (%)
MSCI AC World ex U.S. -3.41 -1.08 -1.08 13.62
MSCI EAFE -3.26 -2.10 -2.10 10.34
MSCI Europe -3.52 -2.48 -2.48 7.66
MSCI Pacific -2.82 -1.46 -1.46 15.67
MSCI Japan -3.72 -2.43 -2.43 16.13
MSCI EM (Emerging Markets) -3.87 2.64 2.64 26.74

North American Fixed Income

  MTD (%) QTD (%) YTD (%) 1 Year (%)
Bloomberg Barclays U.S. Aggregate -0.95 -2.09 -2.09 0.51
Bloomberg Barclays Long-Term Treasury -3.16 -5.15 -5.15 2.80
Bloomberg Barclays U.S. TIPS -3.00 -6.14 -6.14 -0.08
Bloomberg Barclays U.S. Credit -0.97 -1.82 -1.82 -0.18
Bloomberg Barclays Corporate High Yield -1.51 -2.43 -2.43 2.12

International Fixed Income

  MTD (%) QTD (%) YTD (%) 1 Year (%)
Bloomberg Barclays Global Aggregate (Unhedged) -0.89 0.29 0.29 6.01
Bloomberg Barclays Global Aggregate (Hedged) -0.23 -0.94 -0.94 1.57
JPM EMBI Plus -2.23 -2.72 -2.72 1.85

Real Estate/Commodities/Alternatives

  MTD (%) QTD (%) YTD (%) 1 Year (%)
Wilshire U.S. Real Estate Securities IndexSM  -7.58 -11.06 -11.06 -9.43
Wilshire Global ex U.S. Real Estate Securities IndexSM  -5.75 -2.35 -2.35 12.92
Wilshire Global Real Estate Securities IndexSM  -6.89 -7.95 -7.95 -2.07
S&P GSCI Commodity (S&P GSCI)  -3.34 -0.03 -0.03 7.00
Bloomberg Commodity Index  -1.73 0.22 0.22 1.58
Wilshire Liquid Alternatives IndexSM  -2.15 -0.60 -0.60 3.06
Wilshire Liquid Alternative Equity Hedge IndexSM  -3.77 -1.35 -1.35 4.17
Wilshire Liquid Alternative Event Driven IndexSM  0.06 0.92 0.92 2.84
Wilshire Liquid Alternative Global Macro IndexSM  -4.04 -1.41 -1.41 1.47
Wilshire Liquid Alternative Multi-strategy IndexSM  2.16 -0.65 -0.65 4.38
Wilshire Liquid Alternative Relative Value IndexSM -0.59 0.04 0.04 2.65
Wilshire Focused Liquid Alternative IndexSM -1.71 -0.10 -0.10 3.48

*Returns are as of February 28, 2018. Source: Wilshire CompassSM

The Wilshire Indexes are calculated and distributed by Wilshire Associates Incorporated (“Wilshire”). The indices do not represent an investment. It is not possible to invest directly in an index. Exposure to an asset class represented by an index may be available through investable instruments derived from that index. Wilshire makes no representations regarding the advisability of investing in investment products based on the Wilshire Indexes not sponsored, endorsed, sold, or promoted by Wilshire. Index returns do not reflect payment of certain sales charges or fees an investor may pay to purchase the securities underlying the Index or investment vehicles intended to track the performance of the Index. The imposition of these fees and charges would cause actual performance of the securities/vehicles to be lower than the Index performance shown. Inclusion of a company in the Wilshire Indexes does not in any way reflect an opinion of Wilshire on the investment merits of the company. Index returns are preliminary and are subject to revision.

The information from third parties contained herein has been obtained from sources believed to be reliable. Wilshire Funds Management gives no representations or warranties as to the accuracy of such information, and accepts no responsibility or liability (including for indirect, consequential, or incidental damages) for any error, omission, or inaccuracy in such information and for results obtained from its use. Wilshire Funds Management (“WFM”) is a business unit of Wilshire Associates Incorporated (“Wilshire®”). WFM delivers Wilshire Advisor Solutions, which include models designed to provide a broad range of outcome-oriented investment solutions for advisors to use with their clients. Wilshire is a registered service mark of Wilshire Associates Incorporated, Santa Monica, California. All other trade names, trademarks, and/or service marks are the property of their respective holders.

180305 WAS E0418

MORE IN THIS CATEGORY: Market Commentary, Commentary

x
Recent Articles
divider
Recent Articles
divider
Recent Articles
divider

Semi Annual Market Update Webinar

  Our July 24 webinar replay is now available