The Trade Report

September updates to our ETF portfolios

Good morning,

Both of our models provided strong outperformance since the last update, with aggressive positioning and an increase in the Balanced portfolio equity exposure providing the biggest boosts.

Last month’s trades turned out to be one day after the August 5 lows, an ideal time for risk-on positioning. Even though defensives outperformed in August and technology underperformed, the return profile is significantly different measured from our August 6 trade date.