Weekly Market UpdateWeek of Aug 24, 2026Aug 21, 2026
Gold and commodities led as equity participation softened
Three Things to Know This Week
Gold led the week at +5.4%.
- Gold's weekly advance reinforced the real-asset leadership already visible in commodities, but did not by itself establish a broad defensive shift.
U.S. small companies was the weakest of the 11 exposures at -2.1%.
- The weakest weekly result came from an equity segment that remains strong year to date, consistent with a short-term rotation rather than a broken longer-term trend.
Broad commodities holds the year-to-date lead at +39.8%.
- Commodity leadership is persistent across horizons and remains distinct from the weaker weekly showing in U.S. equities.
Cross-asset performance
Total returns across the same market exposures and horizons, shown side by side.
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Sorted by YTD return · strongest to weakest
| Exposure | WTD | MTD | QTD | YTD | 1Y | 3Y Ann. | 5Y Ann. | 10Y Ann. |
|---|---|---|---|---|---|---|---|---|
| Broad commoditiesDBC | Broad commodities, Week to date: up 4.2 percent | Broad commodities, Month to date: up 6.1 percent | Broad commodities, Quarter to date: up 17.3 percent | Broad commodities, Year to date: up 39.8 percent | Broad commodities, 1 year: up 48.4 percent | Broad commodities, 3 years annualised, annualised: up 13.9 percent | Broad commodities, 5 years annualised, annualised: up 15.0 percent | Broad commodities, 10 years annualised, annualised: up 9.4 percent |
| Emerging marketsEEM | Emerging markets, Week to date: up 0.8 percent | Emerging markets, Month to date: up 4.7 percent | Emerging markets, Quarter to date: down 1.9 percent | Emerging markets, Year to date: up 22.7 percent | Emerging markets, 1 year: up 37.0 percent | Emerging markets, 3 years annualised, annualised: up 23.4 percent | Emerging markets, 5 years annualised, annualised: up 8.8 percent | Emerging markets, 10 years annualised, annualised: up 8.3 percent |
| U.S. small companiesIJR | U.S. small companies, Week to date: down 2.1 percent | U.S. small companies, Month to date: up 1.3 percent | U.S. small companies, Quarter to date: down 0.7 percent | U.S. small companies, Year to date: up 22.6 percent | U.S. small companies, 1 year: up 30.4 percent | U.S. small companies, 3 years annualised, annualised: up 16.1 percent | U.S. small companies, 5 years annualised, annualised: up 8.0 percent | U.S. small companies, 10 years annualised, annualised: up 10.8 percent |
| International developedEFA | International developed, Week to date: down 0.4 percent | International developed, Month to date: up 2.5 percent | International developed, Quarter to date: up 4.2 percent | International developed, Year to date: up 12.7 percent | International developed, 1 year: up 21.4 percent | International developed, 3 years annualised, annualised: up 19.4 percent | International developed, 5 years annualised, annualised: up 9.8 percent | International developed, 10 years annualised, annualised: up 9.5 percent |
| U.S. equitiesIVV | U.S. equities, Week to date: down 1.4 percent | U.S. equities, Month to date: up 2.5 percent | U.S. equities, Quarter to date: up 2.7 percent | U.S. equities, Year to date: up 12.3 percent | U.S. equities, 1 year: up 20.4 percent | U.S. equities, 3 years annualised, annualised: up 22.2 percent | U.S. equities, 5 years annualised, annualised: up 13.1 percent | U.S. equities, 10 years annualised, annualised: up 15.3 percent |
| Real estateVNQ | Real estate, Week to date: down 0.3 percent | Real estate, Month to date: down 0.5 percent | Real estate, Quarter to date: up 2.1 percent | Real estate, Year to date: up 11.3 percent | Real estate, 1 year: up 14.1 percent | Real estate, 3 years annualised, annualised: up 11.3 percent | Real estate, 5 years annualised, annualised: up 2.3 percent | Real estate, 10 years annualised, annualised: up 5.2 percent |
| GoldGLD | Gold, Week to date: up 5.4 percent | Gold, Month to date: up 13.9 percent | Gold, Quarter to date: up 14.9 percent | Gold, Year to date: up 6.8 percent | Gold, 1 year: up 37.7 percent | Gold, 3 years annualised, annualised: up 34.2 percent | Gold, 5 years annualised, annualised: up 20.5 percent | Gold, 10 years annualised, annualised: up 12.7 percent |
| High-yield creditHYG | High-yield credit, Week to date: down 0.1 percent | High-yield credit, Month to date: up 0.7 percent | High-yield credit, Quarter to date: up 0.0 percent | High-yield credit, Year to date: down 0.8 percent | High-yield credit, 1 year: up 4.9 percent | High-yield credit, 3 years annualised, annualised: up 8.7 percent | High-yield credit, 5 years annualised, annualised: up 3.8 percent | High-yield credit, 10 years annualised, annualised: up 4.6 percent |
| U.S. aggregate bondsAGG | U.S. aggregate bonds, Week to date: down 0.1 percent | U.S. aggregate bonds, Month to date: up 0.3 percent | U.S. aggregate bonds, Quarter to date: down 1.3 percent | U.S. aggregate bonds, Year to date: down 2.2 percent | U.S. aggregate bonds, 1 year: up 2.4 percent | U.S. aggregate bonds, 3 years annualised, annualised: up 4.5 percent | U.S. aggregate bonds, 5 years annualised, annualised: down 0.3 percent | U.S. aggregate bonds, 10 years annualised, annualised: up 1.4 percent |
| Investment-grade creditLQD | Investment-grade credit, Week to date: down 0.2 percent | Investment-grade credit, Month to date: up 0.1 percent | Investment-grade credit, Quarter to date: down 2.5 percent | Investment-grade credit, Year to date: down 3.5 percent | Investment-grade credit, 1 year: up 1.0 percent | Investment-grade credit, 3 years annualised, annualised: up 5.2 percent | Investment-grade credit, 5 years annualised, annualised: down 0.9 percent | Investment-grade credit, 10 years annualised, annualised: up 2.0 percent |
| Long-duration TreasuriesTLT | Long-duration Treasuries, Week to date: up 0.0 percent | Long-duration Treasuries, Month to date: up 0.2 percent | Long-duration Treasuries, Quarter to date: down 4.7 percent | Long-duration Treasuries, Year to date: down 5.5 percent | Long-duration Treasuries, 1 year: down 0.7 percent | Long-duration Treasuries, 3 years annualised, annualised: down 0.2 percent | Long-duration Treasuries, 5 years annualised, annualised: down 8.3 percent | Long-duration Treasuries, 10 years annualised, annualised: down 2.4 percent |
Total return, from adjusted closes. Data through Aug 21, 2026. — unavailable · 3Y/5Y/10Y annualised; shorter horizons cumulative.
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Chart of the Week
Leadership across nine horizons
Gold+5.4%
Broad commodities+4.2%
Emerging markets+0.8%
Long-duration Treasuries+0.0%
High-yield credit-0.1%
U.S. aggregate bonds-0.1%
Investment-grade credit-0.2%
Week-to-date total returns for the seven highest-ranked exposures in the broad-market scorecard. Source: Adjusted closes via security_measures_latest and security_period_anchor. · Data through Aug 21, 2026
Three Things We're Watching
Does the share of S&P 500 members above their 50-day average recover?
- Short-horizon participation trails the 72% reading above the 200-day average.
Can gold retain weekly leadership after its sharp advance?
- Persistence would reinforce the broader real-asset trend; reversal would suggest a one-week burst.
Do U.S. large-cap equities recover from their negative week?
- A recovery with firmer breadth would challenge the current rotation away from equities.
Notes & methodology
Weekly, from adjusted closes. 1D is a single completed session. Each asset class is represented by one investable ETF proxy, named in the row.
AI assistance. This issue was prepared with AI-assisted research and drafting and reviewed by TrendToWealth before publication.
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