All the major asset classes declined in April’s first week of trading, based on a set of exchange-traded products. The losses market the first broad sweep of weekly red ink for markets since early February.

The smallest setback was posted in inflation-indexed Treasuries. The iShares TIPS Bond (TIP) dipped a fractional 0.2%, the smallest loss among the major asset classes for the five trading days through April 6. Although TIP fell last week, the fund has been rallying since late-February.

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Stocks in emerging markets posted last week’s biggest decline. Vanguard FTSE Emerging Markets (VWO) tumbled 1.8%, the ETF’s third weekly slide in the past four calendar weeks.

Despite recent selling, all but one of the major asset classes continue to reflect gains for the one-year trend. Although several markets are barely clinging to year-over-year increases, only US real estate investment trusts (REITs) have lost ground over the trailing 12-month period. Vanguard Real Estate (VNQ) has shed 6.0% for the year (252 trading days) through last week’s close on a total-return basis.

Meanwhile, emerging-markets equities continue to hold the top spot for one-year performance. Even after the recent drubbing in this corner, VWO remains the strongest one-year performer via a 17.9% total return.