All S&P hedge fund indexes were down in May, according to Standard &...

All S&P hedge fund indexes were down in May, according to Standard & Poor's data. The main S&P Hedge Fund index was down 0.68%. The best-performing hedge fund category was the S&P Event-Driven index, down 0.13%, while the worst loss was in the S&P Equity Long/Short-Global Ex-U.S. index, down 1.89%. Year-to-date May 31, the top performing S&P hedge fund index was the S&P Arbitrage, up 0.89%, barely beating the S&P 500's 0.79% return for the same period.