The Trade Report

June updates to our ETF portfolios

Good morning,

Both models managed to outperform their benchmarks since our last trades on May 5, a remarkable feat given the lack of relative strength anywhere but technology.

Last month’s forced increase of tech exposure was a big reason for the outperformance, but our software position performed even better than broad technology, and holding onto cash and going underweight financials (which were outright negative) also aided performance.