BarclayHedge says returns still trailed the S&P 500 for the month.

Hedge fund returns continued their upward momentum in November. The industry posted a monthly gain of 1.12%, according to the Barclay Hedge Fund Index. By comparison, the S&P 500 Total Return Index gained 3.63% in November.

Year-to-date through November, the hedge fund industry has returned 8.97%. The S&P 500 Total Return Index has gained 27.65% over the same period. 

“In spite of four months in a row of declining consumer confidence, U.S. equity markets, as measured by the S&P 500 Index, were able to post new all-time month-end highs for a third consecutive month in November,” said Sol Waksman, president of BarclayHedge. “The ensuing tailwind led the Barclay Hedge Fund Index to a new all-time high as well.” 

Breaking Down Hedge Fund Returns By Sector

Twenty-three of BarclayHedge’s 31 hedge fund sector indices posted positive returns in November.

The Healthcare & Biotechnology Index had the top returns with a 6.87% gain. Meanwhile, the Equity Long Bias Index gained 3.00%.

Next, the Emerging Markets MENA Index gained 1.72%. Finally, the Technology Index advanced 1.54% while the Emerging Markets Global Equities Index added 1.38%.

As noted, eight sectors also turned into negative territory in November. The Emerging Markets Eastern European Equities Index slipped 2.37%. The Global Macro Index fell 1.04%. Meanwhile, the Distressed Securities Index dipped 0.96%.

Only two hedge fund sectors have losses on the year as of the end of November. The Equity Market Neutral Index has lost 0.77%; meanwhile, the Volatility Trading Index has given back 0.58% year to date.

Finally, setting the pace among the top year-to-date gainers are the Healthcare & Biotechnology Index, up 20.78%, followed by the Technology Index, gaining 16.02%, the Emerging Markets Eastern Europe Index, returning 14.32%, and the Equity Long Bias Index, up 14.26% on the year.

Related: HFRI Fund Weighted Composite Index Gained 1.2% in November