Strong U.S. equity markets in the first quarter created a tough environment for domestic equity managers. Meanwhile, non-U.S. equity and Intermediate-Term Bond managers fared well.
Sources: Morningstar Direct and BMO Global Asset Management. The benchmark for each category are as follows: Russell 1000 (Large Blend), Russell 1000 Value (Large Value), Russell 1000 Growth (Large Growth), Russell MidCap (Mid-Cap Blend), Russell MidCap Value (Mid-Cap Value), Russell MidCap Growth (Mid-Cap Growth), Russell 2000 (Small Blend), Russell 2000 Value (Small Value), Russell 2000 Growth (Small Growth), MSCI EM (Diversified Emerging Markets), MSCI EAFE (Foreign Large Blend), Bloomberg Barclays US Aggregate Bond (Intermediate-Term Bond), Bloomberg Barclays Municipal Bond, (Muni National Interm), and ICE BofML US High Yield (High Yield Bond).
Past performance is not a guarantee of future results.