Benchmarks

What are benchmarks?

These are 431 ETFs and indices covering every corner of the market — US stocks, foreign markets, sectors, commodities, bonds, currencies, and niche themes. They let you see where money is flowing across the entire financial system.

Key categories to know

  • US Index (SPY, QQQ, IWM) — The big picture. If these are going up, it's a "risk on" environment.
  • Sector ETFs (XLK, XLF, XLE, XLV...) — Which parts of the economy are leading. Tech leading = growth trade. Utilities/staples leading = defensive/fearful.
  • Yield / Fixed Income (TLT, IEF, HYG) — Bond prices move opposite to interest rates. TLT rising = rates falling = flight to safety.
  • Volatility (VIX, UVXY) — Fear gauges. Rising = market expects turbulence.
  • FX (DX-Y.NYB = Dollar Index) — Strong dollar = headwind for commodities and emerging markets.

What to look for

Bullish market: Broad indices at highs, cyclical sectors (XLY, XLI, XLF) outperforming, high yield bonds (JNK) rising, VIX low and falling.

Risk-off shift: Defensive sectors (XLU, XLP) outperforming, TLT rising (bonds bid), gold rising, small caps (IWM) lagging large caps (SPY).

  • Relative performance matters more than absolute price. Compare sector ETFs to SPY — what's leading tells you the market's narrative.
  • Divergences are key: if SPY makes new highs but IWM (small caps) doesn't, the rally may be narrow and fragile.
  • Country ETFs show global capital flows. EEM (emerging markets) falling while SPY rises = dollar strength / risk aversion.

Select a category and instrument above