Market Recap The S&P 500 gained 5.15% in May, bringing its year-to-date return to 10.73%. Emerging markets, represented by the EEM ETF, continued to outperform, rising 7.20% in May and 24.15% year to date. Going into May, our momentum equity ETF strategy shifted away from the developed international exposure it had maintained for the last Read More
March Market Recap
Market Recap: Equities fell in March both domestically and abroad, with the S&P 500 losing 5.09% while international (EFA ETF) and emerging markets (EEM ETF) were lower by 7.83% and 9.25%, respectively. While the decline in international and emerging markets was greater, they remain positive on the year due to strong performance leading up to Read More
February Market Update
Note: This update was written prior to the U.S. strike on Iran. While the outcome of this event is uncertain, the structural shifts discussed below remain unchanged. Market Recap: The S&P 500 fell -0.87% in February while the equal weight S&P 500 gained 3.4%. Beneath the surface, leadership is clearly shifting. Technology and AI stocks are struggling Read More
January Market Update
Market Recap 2026 is off to an interesting start. However, if you’re only paying attention to U.S equity indices you may be missing some important developments. In the U.S., the S&P 500 and Nasdaq are off to a choppy start, finishing January up 1.17% and 0.97%, respectively. Market breadth and intra-index correlation remain weak. This Read More
The Case for Gold in Investment Portfolios
The correct allocation is not Zero Summary Most US individual investors hold less than 5% of their portfolio in gold. Institutional allocations are at zero. We show that optimal allocation to gold is somewhere between 15-25% of a total portfolio, and review the characteristics of gold as an asset class that make it unique and Read More