[Sector Edition] What’s Hot, What’s Not: Commodities Hot, US Not

Fri 04 Feb 2022

By Ruairi Dennehy

Access Level | public

What's Hot What's Not


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January's Fund Edition here

What’s Hot

  • Latin America has had consecutive strong months, previously up 3.80% in December and now up 5.49% throughout January.
  • Unsurprisingly Commodity/Natural Resources features as well. The combination of continued inflationary pressures and the rising threat of a conflict in Eastern Europe is helping to push the prices of many raw materials up.
  • Two low-risk sectors make up the 3rd and 4th spots in the shape of Global EM Bonds (Local Currency) and UK Direct Property.
  • When the Short-Term Money Market sector (essentially another name for cash deposits) appears in the Hot table, you know it’s been a tough month for mainstream stock markets!

What’s Not

  • The US dominates here, the bottom three sectors are all US centric and the period of underperformance for US stocks stretches on once more.
  • Japanese Smaller Companies, down 9.79% in January, also features. The worst fund, Baillie Gifford Japanese Smaller Companies, is down over 18% for the month.
  • European Smaller Companies complete the dud sectors for January, down an average of 9.21%.
  • The message?  Risk is being taken off the table.

What’s Hot


Last Month Performance %

IA Latin America


IA Commodity/Natural Resources


IA Global EM Bonds Local Currency


IA UK Direct Property


IA Short Term Money Market



What’s Not


Last Month Performance %

IA North American Smaller Companies


IA Healthcare


IA Technology and Technology Innovations


IA Japanese Smaller Companies


IA European Smaller Companies


Sector performance 01/01/2022 – 31/01/2022. No size filter applied. All Investment Association sectors considered.


We do this blog to simply highlight short term trends. These are not recommendations.




What's Hot What's Not


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