Source: ETF.com . November 20, 2025 Warranties & Disclaimer There are no warranties implied. Past performance is not indicative of future results. Information presented herein is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. The returns in this report are based on data from f

Unsteady Markets See Month-End Rebound Despite early volatility driven by the longest government shutdown on record, hawkish Fed signals, AI scrutiny, and elevated valuations, the S&P 500 Index finished slightly higher (+0.2%) as economic data came in mixed but softened, the Fed’s tone turned more dovish, sentiment improved, and odds of a December interest rate cut increased. US small-caps and US mid-caps led gains (+2.6% and +2.1%, respectively), while emerging market equiti