Chart of the Day: The H1 Scorecard – and What Comes Next

It’s the middle of World Cup season...and that means we have winners, losers, and some big upsets on the pitch. But what about in MARKETS? What shined and what didn’t in the first half of 2026? More importantly, what comes next?

Take a look at the MoneyShow Chart of the Day. It shows the performance of the 11 S&P 500 Index ($SPX) sector ETFs in the first half. You can see that the State Street Technology Select Sector SPDR ETF (XLK) was the winner by a landslide, up 28.7% year-to-date. The State Street Energy Select Sector SPDR ETF (XLE) came in second at +19.8%, though that’s a big step down from the gains it was showing in the depths of the US-Iran war.

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Sector ETF Performance (YTD % Change Through 6/29)

Source: State Street Investment Management

On the flip side, ETFs tracking communication services and consumer discretionary lagged notably. Financials were slightly in the red as well amid lingering credit concerns, while health care managed a small gain thanks in part to a big push higher in the last month. One might even call that a last-minute “upset!”

In other asset classes, precious metals suffered a big, post-January fade. That left gold down about 6.6% in H1 and silver off 15.1%. The iShares 20+ Year Treasury Bond Fund (TLT) managed to eke out a 2.1% total return, slightly better than the State Street SPDR Bloomberg High Yield Bond ETF (JNK) that tracks riskier credits.

Meanwhile, the left-for-dead US Dollar Index enjoyed a strong H1 finish – pushing its YTD gains to about 2.8%. Worst off? You guessed it...crypto! Bitcoin lost a sizable 33% in the last six months, leaving it trading for less than half its October 2025 peak around $125,000.

As for what comes next? We saw markets broaden out a bit late in the second quarter even as tech stumbled. I wouldn’t be surprised if that action continued into Q3, and you might want to position for it. If you’re a bargain hunter, now could be a good time to nibble at precious metals and energy, too. All in all, I continue to recommend a (qualified) “Be Bold” stance – and it continues to work!