April 2026 Model Performance Report

1. US: Model performance was unfavourable across the board for the US Large Cap universe, with the Price Momentum model earning highest returns at 2.74%. The Relative Value model had the least favourable returns. The models over the US Small Cap universe struggled during the month. On the 12-month basis, the Price Momentum model performed best at 10.05%
2. Developed Europe: Over the Developed Europe universe, the Earnings Momentum model returned 1.69% on a one month decile return spread basis. On a 12-month basis, the Price Momentum model performed the best, at 24.41% cumulative.
3. Developed Pacific: The models struggled over the Developed Pacific universe during this month. On the 12-month basis as well, the Relative Value model performed best at 6.87% and the performance of the Price Momentum model lagged.
4. Emerging Markets: Within the Emerging Markets universe, the Earnings Momentum model returned 2.33% on one month quintile return spread basis. The Earnings Momentum model led over the one-year period, with returns at 21.63%. 
5. Specialty Models: Within the specialty model library, the Insurance and the REIT 2 models had the strongest one month quintile return spread performance returning 2.54% and 0.34%, respectively, while the Semiconductor and the Technology models saw weaker returns. The Retail model's one year cumulative performance was the highest at 21.57% while the Technology model's performance was the lowest at -69.47%. 

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.