Despite Commodity Rout, Emerging Markets Are Outperforming YTD

The MSCI All Country World index (MSCI ACWI) is comprised of two major sub-indexes: the MSCI World Index (80%) and the MSCI Emerging Markets index (20%).  On a year to date basis, measuring average performance in USD, the best performing group of companies are from Turkey and the worst are form Colombia.  In the table below, we show performance YTD for all countries withing the MSC ACWI.



If we focus on the developed countries, we can see that New Zealand is the best performing while Canada is the worst performing.  On average the developed countries are down 1.89% YTD.



Turning our attention next to the emerging market countries, we can see that, as a group, they are down on average only about 15bps YTD.



So, in aggregate, the emerging markets are outperforming the developed markets by about 1.75% YTD.  Desptie the commodity rout, EMs are outperforming DMs.