(Bloomberg) -- Hedge funds rose 4.2% in April, the most in data going back to January 2014, as U.S. stocks rebounded to their best return in more than 30 years.

Equity managers led the gains, posting a 6.5% advance in the month, according to preliminary figures from the Bloomberg Hedge Fund Indices.

So far this year, hedge funds are down 6.7%. That still has outpaced the S&P 500 Index, which sunk about 9% for the first four months of the year, including reinvested dividends, as the coronavirus outbreak and measures to contain it rocked global markets. But equities were less volatile in April, with the S&P 500 jumping almost 13% -- its best month since 1987.

All of the five main strategies tracked by Bloomberg rose in April. Here’s a look at the figures:

Bloomberg Hedge Fund Indices are based on funds reporting to the Bloomberg Hedge Fund Database.

For more data on hedge funds

• See HFND and select option 3 for the Bloomberg Hedge Fund Database Snapshot, which offers more details on fund performance
• See HFS to screen for specific hedge funds

(Updates with more details on the returns.)

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