Global Stock Valuation Update
Global stock markets had a big scare in December and now they have mostly recovered, as shown in the following table:
|1Yr AR||3Yr AR||5Yr AR||10Yr AR|
|VTI (Vanguard Total Stock Market ETF)||12.6%||6.0%||14.4%||10.0%||17.4%|
|VNQ (Vanguard REIT ETF)||12.3%||19.3%||7.4%||8.4%||18.3%|
|VEA (Vanguard FTSE Developed Markets ETF)||10.6%||-3.9%||9.2%||2.7%||10.0%|
|VWO (Vanguard FTSE Emerging Markets ETF)||9.4%||-9.3%||12.2%||4.1%||9.7%|
|VNQI (Vanguard Global ex-US Real Estate ETF)||8.8%||0.8%||9.0%||5.4%|
|BND (Vanguard Total Bond Market ETF)||1.2%||3.5%||2.0%||2.2%||3.4%|
Among them, US assets (stocks and US REITs) have shown the strongest year to date returns.
We have regularly pointed out that US stocks are extremely overvalued. Let’s take a look at their recent valuation and compare with those in other parts of the world.
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