<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2018/07/23/12/05/stock-exchange-3556719_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2018/07/23/12/05/stock-exchange-3556719_960_720.jpg"/></p>
<p><em>图片来源：Pixabay</em></p>
<p>根据一组 ETF 代理，商品和外国股票在一月份的主要资产类别表现中领先。同时，受弱美元支持的离岸资产大幅超越其美国同行。</p>
<p>一项广泛的商品指标在一月份表现突出。iShares S&amp;P GSCI 商品指数信托基金（GSG）上个月飙升 10.5%，创下该基金 2 年半以来的最佳月度表现。</p>
<p>外国股票在一月份的竞争中位列第二和第三。除美国外的发达市场股票（VEA）上涨 6.0%，而新兴市场股票（VWO）则以 5.0% 的增幅紧随其后。</p>
<p>美国股票（VTI）则大幅落后，1 月份仅上涨 1.6%。美国债券（BND）仅小幅上涨 0.2%。相比之下，美国小盘股表现强劲，基于 iShares Core S&amp;P Small-Cap ETF（IJR）上涨 5.7%，远超其他美国市场板块。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.tab_.02feb206.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.tab_.02feb206.png"/></p>
<p>尽管 2026 年的开局表现各异，但一月份的主要资产类别普遍上涨，值得注意。在 2025 年，所有领域都有三个月的反弹。</p>
<p>全球市场指数（GMI）以强劲的开局开始了新的一年，跳涨 2.4%——这是自九月份以来的最佳月度涨幅。随着最新的上涨，GMI 将其连续月度上涨的记录延续至十个月，这是八年来最长的连胜纪录。GMI 是一个不受管理的基准（由 CapitalSpectator.com 维护），通过 ETF 持有所有主要资产类别（现金除外），并以市值权重表示，是多资产类别投资组合的竞争基准。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.1yr.2026-02-02-1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.1yr.2026-02-02-1.png"/></p>
<hr/>
<p><em>更多来自此作者的文章：</em></p>
<p>外国债券在 2026 年领先美国固定收益</p>
<p>美联储的工作变得越来越困难</p>
<p>疲弱的消费者信心是否发出经济警告？</p>

大豆基金 - Teucrium

ICOP

大宗商品指数 ETF - iShares

<p>在 2026 年 1 月，大宗商品和外国股票的表现超过了主要资产类别，iShares S&P GSCI 商品指数信托上涨了 10.5%。除美国外的发达市场股票上涨了 6.0%，而新兴市场上涨了 5.0%。美国股票仅上涨了 1.6%，美国债券则微增 0.2%。值得注意的是，美国小盘股飙升了 5.7%。全球市场指数（GMI）上涨了 2.4%，创下自九月份以来的最佳月度涨幅，并将其连胜纪录延长至十个月，这是八年来最长的连胜纪录</p>

<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2018/07/23/12/05/stock-exchange-3556719_960_720.jpg" alt="" original-src="https://cdn.pixabay.com/photo/2018/07/23/12/05/stock-exchange-3556719_960_720.jpg"/></p>
<p><em>Image Source: Pixabay</em></p>
<div class="lb-trans"><p><em>图片来源：Pixabay</em></p>
</div><p>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.</p>
<div class="lb-trans"><p>根据一组 ETF 代理，商品和外国股票在一月份的主要资产类别表现中领先。同时，受弱美元支持的离岸资产大幅超越其美国同行。</p>
</div><p>A broad measure of commodities led the way higher in January. The iShares S&amp;P GSCI Commodity Indexed Trust (GSG) soared 10.5% last month, marking the fund’s strongest monthly performance in 2-1/2 years.</p>
<div class="lb-trans"><p>一项广泛的商品指标在一月份表现突出。iShares S&amp;P GSCI 商品指数信托基金（GSG）上个月飙升 10.5%，创下该基金 2 年半以来的最佳月度表现。</p>
</div><p>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.</p>
<div class="lb-trans"><p>外国股票在一月份的竞争中位列第二和第三。除美国外的发达市场股票（VEA）上涨 6.0%，而新兴市场股票（VWO）则以 5.0% 的增幅紧随其后。</p>
</div><p>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&amp;P Small-Cap ETF (IJR).</p>
<div class="lb-trans"><p>美国股票（VTI）则大幅落后，1 月份仅上涨 1.6%。美国债券（BND）仅小幅上涨 0.2%。相比之下，美国小盘股表现强劲，基于 iShares Core S&amp;P Small-Cap ETF（IJR）上涨 5.7%，远超其他美国市场板块。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.tab_.02feb206.png" alt="" original-src="https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.tab_.02feb206.png"/></p>
<p>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.</p>
<div class="lb-trans"><p>尽管 2026 年的开局表现各异，但一月份的主要资产类别普遍上涨，值得注意。在 2025 年，所有领域都有三个月的反弹。</p>
</div><p>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.</p>
<div class="lb-trans"><p>全球市场指数（GMI）以强劲的开局开始了新的一年，跳涨 2.4%——这是自九月份以来的最佳月度涨幅。随着最新的上涨，GMI 将其连续月度上涨的记录延续至十个月，这是八年来最长的连胜纪录。GMI 是一个不受管理的基准（由 CapitalSpectator.com 维护），通过 ETF 持有所有主要资产类别（现金除外），并以市值权重表示，是多资产类别投资组合的竞争基准。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.1yr.2026-02-02-1.png" alt="" original-src="https://www.capitalspectator.com/wp-content/uploads/2026/02/gmi.1yr.2026-02-02-1.png"/></p>
<hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自此作者的文章：</em></p>
</div><p>Foreign Bonds Lead US Fixed Income In 2026</p>
<div class="lb-trans"><p>外国债券在 2026 年领先美国固定收益</p>
</div><p>The Fed’s Job Isn’t Getting Any Easier</p>
<div class="lb-trans"><p>美联储的工作变得越来越困难</p>
</div><p>Is Weak Consumer Sentiment Flashing A Economic Warning?</p>
<div class="lb-trans"><p>疲弱的消费者信心是否发出经济警告？</p>
</div>

主要资产类别 2026 年 1 月的表现回顾