Green Energy Stocks Powered May Returns for Israeli Savers

May was another strong month for Israeli savers in provident and pension funds, despite uncertainty around the war with Iran. Markets rose, lifting returns across the main savings tracks.

In the general track of participation funds, savers gained 2.2% in May, bringing year-to-date returns to 6.6% and the three-year return to 46.6%. In equity tracks, the gain was even stronger, 3.6% in May, 12.3% since the start of the year, and 88% over three years. By comparison, the S&P 500 tracking track returned only 0.5% in May, is down 2.2% this year, and has risen 41% over three years. The gap reflects the strong performance of Tel Aviv stocks in recent years and the roughly 20% weakening of the dollar.

Among general tracks in May, Analyst led with 2.8%, followed by Infinity with 2.6%, Clal with 2.4%, and Harel with 2.3%. Mor and Meitav finished last with 1.8% each. Since the start of the year, Clal leads with 8.2%, ahead of Infinity at 7.7%, Harel at 7.6%, and Analyst at 7.1%. At the bottom are Phoenix and Meitav at 6.1% each, Yelin Lapidot at 5.1%, and Altshuler Shaham at 4.8%.

In equity tracks, Clal led May with 4.4%, followed by Analyst at 4.1% and Harel at 4%. Meitav, Phoenix, and Altshuler Shaham trailed with 3.3%, 3%, and 2.7%. Year to date, Clal remains first at 15.5%, ahead of Harel at nearly 15%, Mor at 13.2%, and Migdal at 13.1%, while Altshuler Shaham is last at 7.7%. In the under-50 pension track, Infinity led May with 3.7%, while Mor leads the year with 10.4%.