--- title: "Major Asset Classes January 2026 Performance Review" type: "News" locale: "en" url: "https://longbridge.com/en/news/274541010.md" description: "In January 2026, commodities and foreign stocks outperformed major asset classes, with the iShares S&P GSCI Commodity Indexed Trust rising 10.5%. Developed-market shares ex-US increased by 6.0%, while emerging markets rose by 5.0%. US stocks gained only 1.6%, and US bonds saw a minimal 0.2% increase. Notably, US small-cap stocks surged by 5.7%. The Global Market Index (GMI) rose 2.4%, marking its best monthly gain since September and extending its winning streak to ten months, the longest in eight years." datetime: "2026-02-02T16:35:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/274541010.md) - [en](https://longbridge.com/en/news/274541010.md) - [zh-HK](https://longbridge.com/zh-HK/news/274541010.md) --- # Major Asset Classes January 2026 Performance Review _Image Source: Pixabay_ Commodities and foreign stocks led the performance race in January for the major asset classes, based on a set of ETF proxies. Meanwhile, offshore assets, supported by a weak dollar, outperformed their US counterparts by a wide margin. A broad measure of commodities led the way higher in January. The iShares S&P GSCI Commodity Indexed Trust (GSG) soared 10.5% last month, marking the fund’s strongest monthly performance in 2-1/2 years. Foreign stocks were in second and third place in January’s horse race. Developed-market shares ex-US (VEA) rose 6.0%, with stocks in emerging markets (VWO) in close competition via a 5.0% increase. US stocks (VTI) trailed by a wide margin, rising 1.6% in January. US bonds (BND) only managed to post a thin 0.2% advance. US small-cap stocks, by contrast, delivered strong results, blowing past other slices of US markets with a sizzling 5.7% rise, based on iShares Core S&P Small-Cap ETF (IJR). Despite a wide array of performances in 2026’s kickoff, January was notable for across-the-board gains for the major asset classes. In 2025, there were three months of rallies in all corners. The Global Market Index (GMI) kicked off the year with a strong start, jumping 2.4% — its best monthly gain since September. With the latest rise, GMI extended its string of monthly gains to ten in a row, the longest run of wins in eight years. GMI is an unmanaged benchmark (maintained by CapitalSpectator.com) that holds all the major asset classes (except cash) in market-value weights via ETFs and represents a competitive benchmark for multi-asset-class portfolios. * * * _More By This Author:_ Foreign Bonds Lead US Fixed Income In 2026 The Fed’s Job Isn’t Getting Any Easier Is Weak Consumer Sentiment Flashing A Economic Warning? ### Related Stocks - [SOYB.US](https://longbridge.com/en/quote/SOYB.US.md) - [ICOP.US](https://longbridge.com/en/quote/ICOP.US.md) - [GSG.US](https://longbridge.com/en/quote/GSG.US.md) - [VEA.US](https://longbridge.com/en/quote/VEA.US.md) - [EMXC.US](https://longbridge.com/en/quote/EMXC.US.md) - [VWO.US](https://longbridge.com/en/quote/VWO.US.md) - [EDIV.US](https://longbridge.com/en/quote/EDIV.US.md) - [CPER.US](https://longbridge.com/en/quote/CPER.US.md) - [SPEM.US](https://longbridge.com/en/quote/SPEM.US.md) - [EMGF.US](https://longbridge.com/en/quote/EMGF.US.md) - [USCI.US](https://longbridge.com/en/quote/USCI.US.md) - [BCI.US](https://longbridge.com/en/quote/BCI.US.md) - [COPX.US](https://longbridge.com/en/quote/COPX.US.md) - [PDBC.US](https://longbridge.com/en/quote/PDBC.US.md) - [AVUV.US](https://longbridge.com/en/quote/AVUV.US.md) - [DFEV.US](https://longbridge.com/en/quote/DFEV.US.md) - [COPJ.US](https://longbridge.com/en/quote/COPJ.US.md) - [IDEV.US](https://longbridge.com/en/quote/IDEV.US.md) - [TNA.US](https://longbridge.com/en/quote/TNA.US.md) - [FCX.US](https://longbridge.com/en/quote/FCX.US.md) - [COPP.US](https://longbridge.com/en/quote/COPP.US.md) - [SCCO.US](https://longbridge.com/en/quote/SCCO.US.md) - [DEM.US](https://longbridge.com/en/quote/DEM.US.md) - [SCHE.US](https://longbridge.com/en/quote/SCHE.US.md) - [EVLU.US](https://longbridge.com/en/quote/EVLU.US.md) - [DBC.US](https://longbridge.com/en/quote/DBC.US.md) - [EEM.US](https://longbridge.com/en/quote/EEM.US.md) - [AVEM.US](https://longbridge.com/en/quote/AVEM.US.md) - [HGER.US](https://longbridge.com/en/quote/HGER.US.md) - [WEAT.US](https://longbridge.com/en/quote/WEAT.US.md) - [IEMG.US](https://longbridge.com/en/quote/IEMG.US.md) - [CORN.US](https://longbridge.com/en/quote/CORN.US.md) - [AVES.US](https://longbridge.com/en/quote/AVES.US.md) ## Related News & Research - [TECHNICALS-CBOT corn may revisit May 16 low of $4.55](https://longbridge.com/en/news/287168173.md) - [How Peru’s Tía María Permit Revocation At Southern Copper (SCCO) Has Changed Its Investment Story](https://longbridge.com/en/news/286701241.md) - [METALS-Copper retreats on slow progress of U.S.-Iran peace efforts](https://longbridge.com/en/news/287200106.md) - [TECHNICALS-CBOT soybeans may rise to $12.28](https://longbridge.com/en/news/286863597.md) - [Weak euro helps EU wheat resist Chicago decline, oil price slump](https://longbridge.com/en/news/287097786.md)