Is anything on sale? With supportive central banks, positive trade news, and steady economic growth, most assets classes have gone up over the past month. For ETF investors and broad asset class investors, let’s take a look at what’s been lagging. Obviously any VIX, bear ETFs and leveraged bear ETFs have done poorly, but we’ll focus on the asset class level. Local-currency emerging market bonds $LEMB -2.9% Cocoa $NIB -8.9% Brazil $BZQ -20.7% Philippines $EPHE -2.6% Homebuilders $XHB +0.1% Preferred Stocks $PFF +0.4% (Data courtesy of Trade Ideas)