QuantStreet June 2024 Letter: Don’t Sell in May

After a weak April, markets bounced back in May, with the S&P 500 staging a breathtaking rally in the final few hours of trading on Friday, May 31.


For the month, most asset classes were up, with utilities outpacing even the tech-heavy NASDAQ to be the monthly performance leader (more on this below). The S&P 500 was up a robust 5% on the month. Fixed income did relatively well as well as 10-year Treasury rates dropped from 4.68% to 4.5% on weaker-than-expected employment data and a better CPI inflation report in mid-May. The laggards were energy stocks and commodities.


QuantStreet’s performance was strong in May, with all three of our live strategies–the 60/40, 85/15, and 95/5 risk levels–outperforming industry-leading asset allocation mutual funds that operate at these respective risk levels. You can read more about our performance here.