Wed Apr 10, 2019 7:36am EST

APPLETON, Wisc., April 10, 2019 /PRNewswire/ -- The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) increased 10.26% (on a total return basis) for the quarter ended March 31, 2019.  This compares to the S&P 500, which gained 13.65% for the same period.

Following Q4 2018, which was one of the worst quarters for stocks in recent history, asset prices rebounded and had their best January in more than 30 years. Gains were primarily driven by easy monetary policy announcements by the central banks of China, the Eurozone and the United States. In addition, other factors included the U.S. unemployment rate, which remains near historical lows, and progression in the trade talks between the U.S. and China.

All 19 components of the Index posted a gain in the first quarter. Emerging markets equity-China (+31.0%), domestic real estate (+17.3%), commodities- metals & mining (+15.4%) all posted gains in excess of 15% for the quarter. The worst performing constituent for the quarter was managed futures with a return of +0.2%.

The index was reconstituted and rebalanced in January, with some minor changes to several asset classes.  Broad allocations between equities, fixed income and alternatives remained constant. Commodities, managed futures and gold saw their allocations increase while private equity, hedge funds and U.S./international real estate's allocations were reduced.

Endowment Index Q1 2019 Constituent Performance

Asset Class

Q1 2019 Change (%)

    Asset Class

Q1 2019 Change (%)

Em. Market Equity- China


Emerging Mkt Fixed Inc


Domestic Real Estate


Private Eq-Distressed Debt




Hedge Funds


Private Equity/VC




US Equity


Intl Developed Fixed Inc




Domestic Fixed Inc


Intl Real Estate




Commodity-Oil & Gas




Intl Developed Equity


Managed Futures


Emerging Mkt Equity


The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™.  The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Fixed Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets) The Index applies an objective, rules based construction methodology based upon portfolio allocation data obtained from over 800 educational institutions that collectively manage over $615 billion as of 12/31/18. Each of the 19 sub-indexes that currently comprise the Index are investable, and contained within those sub-indexes are over 34,000 underlying securities.

Visit to download longer term index price and performance data. 

ETF Model Solutions, LLC serves its clients as an ETF strategist, designing and managing ETF-based investment solutions for advisers, institutions, retirement plans and individual investors based upon the Endowment Investment Philosophy™.  The Firm offers ETF-based diversified target-risk models, and asset class models for use by investment advisers and retirement plans.  ETF Model Solutions, LLC also provides digital investment services to individual investors through the website,

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Information presented for educational purposes only and is not intended as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies, nor shall it be construed to be the provision of investment advice. You cannot invest directly in an index. Indexes do not contain fees.   Past performance is not necessarily indicative of future results.  Investments involve risk and unless otherwise stated, are not insured or guaranteed.   Performance information provided is net of any underlying exchange-traded fund expenses but does not include any other fees or expenses.   ETF Model Solutions, LLC is registered as an investment adviser with the SEC.  Registration does not imply any level of skill or training, nor does it imply endorsement by the SEC or other securities regulatory authority.  A copy of the Firm's disclosure document, Form ADV Brochure Part 2, is available upon request.

Timothy Landolt

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SOURCE ETF Model Solutions, LLC

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