2022 was a brutal year for stocks and bonds. The S&P 500 fell 19%, its worst performance since 2008. The Dow fared the best of the major indexes, losing “only” about 9%.

The Nasdaq plunged 33%, as many earlier high-flying stocks were beaten down. The tech-heavy index underperformed the broader benchmark by the biggest margin since 2002, per WSJ.

The iShares MSCI Turkey ETF (TUR Quick QuoteTUR - Free Report) was the top performing unleveraged ETF with a gain of over 100%. Domestic investors piled into Turkish stocks as inflation surged to over 80%. The central bank shocked global experts by continuing interest rate cuts to boost growth even as the lira slumped almost 30% against the dollar.

The Simplify Interest Rate Hedge ETF (PFIX Quick QuotePFIX - Free Report) , which seeks to hedge interest rate movements arising from rising long-term interest rates and to benefit from market stress when fixed income volatility increases, gained over 90%.

The VanEck Oil Services ETF (OIH Quick QuoteOIH - Free Report) returned about 66% as many oilfield services companies like Schlumberger (SLB Quick QuoteSLB - Free Report) and Halliburton (HAL Quick QuoteHAL - Free Report) reported blockbuster profits.

Crypto and blockchain related ETFs were among the worst performing areas as Bitcoin plunged about 65% last year. The Viridi Bitcoin Miners ETF (RIGZ), which liquidated yesterday, was down 87%.

Cannabis stocks and ETFs suffered from Democrats’ failure to pass any banking reforms for marijuana companies. With a Republicans House majority now, there is little hope of any legal reforms over the next two years.

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