Market insights

Independent commentary combined with data on key asset classes to help trustees understand how global markets have performed and why.

Latest Market Data

Asset classes

Market indices

Quarterly updates

Market Data

Q2 2026

Updated quarterly, this dashboard tracks performance across key asset classes using independent data from Morningstar and other sources. Read it alongside our quarterly market commentary to understand not just what happened, but why. Coverage includes equities, fixed income, cash, commodities and currencies over rolling 5-year periods.

Equities — Region

Name	Return quarter	Return ytd	Return 1 Yr	Return 3 Yr	Return 5 Yr
Global Markets	14.7%	11.4%	23.8%	19.3%	10.5%
Developed Markets	13.6%	9.4%	21.2%	19.1%	11.4%
United States	15.1%	9.7%	21.3%	20.1%	12.4%
EAFE	10.1%	9.0%	20.4%	16.4%	9.0%
United Kingdom	3.5%	7.5%	23.6%	16.1%	12.6%
Europe ex UK	13.5%	10.9%	21.6%	14.2%	9.7%
Japan	14.6%	18.0%	43.3%	22.6%	17.7%
Asia ex-Japan	26.8%	25.3%	44.7%	23.6%	7.6%
Emerging Markets	23.7%	23.0%	41.7%	22.2%	7.4%
Latin American	-2.9%	13.1%	34.5%	21.7%	9.4%

EQUITIES — Sector

Name	Return quarter	Return ytd	Return 1 yr	Return 3 yr	Return 5 yr
Energy	-12.5%	15.8%	25.4%	13.2%	14.7%
Basic Materials	0.4%	6.3%	27.8%	12.1%	5.9%
Industrials	12.6%	16.5%	26.4%	20.6%	12.3%
Consumer Cyclical	6.3%	-4.4%	3.7%	8.8%	1.8%
Consumer Defensive	1.5%	4.6%	2.8%	5.5%	3.4%
Healthcare	6.7%	1.9%	15.6%	6.8%	3.2%
Financial Services	11.4%	4.5%	15.5%	23.4%	12.6%
Technology	38.7%	29.8%	48.9%	32.1%	19.9%
Communication Services	6.8%	-2.3%	12.9%	23.1%	7.5%
Utilities	0.3%	8.1%	16.4%	15.7%	9.8%

Fixed income

Name	Return quarter	Return ytd	Return 1 yr	Return 3 yr	Return 5 yr
Global Bond Agg	0.9%	0.1%	0.8%	3.2%	-2.1%
Global Bond Agg Hdg to USD	1.3%	1.3%	3.2%	4.3%	0.4%
Global Bond Agg Hdg to GBP	1.3%	1.3%	3.1%	4.1%	-0.1%
Global Bond Agg Hdg to EUR	0.9%	0.4%	1.1%	2.3%	-1.5%
US 1-5 Yr Agg	0.4%	0.6%	3.1%	4.8%	1.8%
US 5-10 Yr Agg	0.6%	0.7%	4.4%	4.3%	0.1%
US 10+ Yr Agg	1.6%	1.0%	3.9%	1.7%	-4.0%
UK 1-5 Yr Agg	1.7%	1.1%	3.3%	5.3%	1.3%
UK 5-10 Yr Agg	2.3%	0.7%	3.2%	5.1%	-1.2%
UK 10+ Yr Agg	2.5%	-1.0%	2.1%	1.1%	-8.6%
US Treasury	0.3%	0.4%	2.7%	3.2%	-0.4%
UK Gilt	2.1%	0.0%	2.5%	2.8%	-4.7%
Eurozone Treasury	1.9%	1.3%	1.3%	2.7%	-2.1%
US TIPS	0.9%	1.3%	3.4%	4.0%	1.0%
UK Trsy Inf-Lnkd	-1.0%	0.2%	2.2%	-1.3%	-8.1%
Global High Yield	2.5%	1.3%	4.9%	9.0%	3.8%
EM Sovereign (Hard Currency)	3.4%	1.5%	8.4%	7.6%	1.3%
EM Sovereign (Local Currency)	3.5%	1.2%	6.9%	22.4%	11.4%

Cash & Commodities

Name	Return quarter	Return ytd	Return 1 yr	Return 3 yr	Return 5 yr
USD Cash	0.9%	1.8%	4.0%	4.7%	3.6%
GBP Cash	0.9%	1.8%	3.9%	4.6%	3.4%
EUR Cash	0.5%	1.0%	1.9%	2.9%	1.9%
Gold	-14.2%	-7.1%	21.4%	27.8%	17.8%
CAD	-2.0%	-3.3%	-4.1%	-2.3%	-2.7%
GBP	0.3%	-1.6%	-3.4%	1.5%	-0.8%
EUR	-1.2%	-2.8%	-3.0%	1.5%	-0.7%
JPY	-2.3%	-3.6%	-11.4%	-3.9%	-7.3%
CHF	-1.1%	-1.9%	-1.8%	3.5%	2.7%
EUR (vs. GBP)	-1.4%	-1.2%	0.4%	0.0%	0.1%

Latest market commentary

Market commentary

Up like a rocket!

Alex Scott

Author

Alex Scott

Investment Committee Chair

Alex is an experienced multi-asset investment manager and strategist, most recently responsible for $12bn AUM for a leading London-based asset manager, who independently chairs Enhance’s investment committee.

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Market insights

Global macroeconomics and investment markets can be unpredictable and difficult to track.

Our market insights are designed to cut through the noise and provide concise quarterly commentary and data on key asset classes. Combined with Enhance Peer Groups, these insights help trustees to connect the dots on portfolio performance.