Content (111)

  • Seeking Volatility Protection Using Indices

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    Seeking Volatility Protection Using Indices

    2020-03-25T10:24:00Z

    With markets fluctuating between “risk-on” and “risk-off” environments, shifts in economic conditions can pose significant challenges for investors. Exhibit 1 shows events throughout the current market cycle causing dramatic spikes in volatility and large drawdowns. With more of these likely in the future, as our long bull market cycle ages, how do investors best position portfolios to respond?

  • Using ESG Data to Simplify the Complex

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    Webinar replay: Using ESG Data to Simplify the Complex

    2020-03-24T12:58:00Z

    A complimentary webinar for investment professionals

  • SPIVA® Europe Year-End 2019

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    SPIVA® Europe Year-End 2019

    2020-03-24T12:42:00Z

    S&P Dow Jones Indices has been the de facto scorekeeper of the ongoing active versus passive debate since the first publication of the S&P Indices Versus Active Funds (SPIVA) U.S. Scorecard in 2002. The SPIVA Europe Scorecard measures the performance of actively managed European equity funds denominated in euro (EUR), British pound sterling (GBP), and other European local currencies against the performance of their respective S&P DJI benchmark indices over 1-, 3-, 5-, and 10-year investment horizons.

  • Multi-Asset Income Strategies in a Low Interest Rate Environment

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    Multi-Asset Income Strategies in a Low Interest Rate Environment

    2020-03-20T12:44:00Z

    One of the most significant characteristics of the post-financial crisis world has been the global persistence of low, or even negative, interest rates. The entire U.S. Treasury curve yielded below 1% for the first time in history on March 9, 2020, in the wake of the COVID-19 pandemic, before the long end reverted recently on fiscal stimulus reports. 

  • 29 Days Later

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    29 Days Later

    2020-03-20T12:39:00Z

    On February 19th, the S&P 500® closed at an all-time high of 3386; last night, exactly one month later it closed at 2409, a 29% decline from the high.  Let’s take a moment to reflect on what’s happened over the last month.

  • The Importance of Asset Class Diversification - A Performance Analysis of the S&P MARC 5% Index

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    The Importance of Asset Class Diversification: A Performance Analysis of the S&P MARC 5% Index

    2020-03-19T12:29:00Z

    Recent selloffs in the equity markets and a significant rise in volatility signal an end to the 11-year bull market (Bye Bye Bull Market: Reaction to Coronavirus). While most broad market domestic equity indices have declined, the performance of the S&P MARC 5% Index (ER) has held up (1.84%). The answer to its resiliency lies in its index construction, which attempts to maximize diversification benefits.

  • With VIX Above 80, Expect 5% Daily Swings in the S&P 5000

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    With VIX Above 80, Expect 5% Daily Swings in the S&P 500

    2020-03-19T12:21:00Z

    Volatility – it is sometimes said – takes the elevator up but takes the stairs down.  Like seismic activity, volatility can rise precipitously, but tends to decay more slowly; aftershocks and tremors continue to roil markets after any major repricing occurs.  The practical consequence is that, once the markets become volatile, they tend to remain so for some time.  For the short term at least, outsized daily moves will be the new normal.

  • Showtime for Active Managers

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    Showtime for Active Managers?

    2020-03-19T12:15:00Z

    The rapid spread of coronavirus and oil price concerns have whipsawed U.S. equities since the S&P 500® reached its all-time high on Feb. 19, 2020. On March 16, 2020, the index plummeted by 12%, its worst decline since October 1987; as of the close of trading on March 18, 2020, losses for the S&P 500 amounted to 29%. Market commentators have argued that in this environment, active management has an advantage over index funds.

  • Treasuries Market Flashes Red, Fed Unleashes Tsunami

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    Treasuries Market Flashes Red, Fed Unleashes Tsunami

    2020-03-18T12:11:00Z

    As global financial markets grapple with assessing the economic impact of COVID-19, U.S. Treasury yields reached unprecedented levels. On March 9, 2020, the yield on the 10-year U.S. Treasury Bond fell to an intra-day low of 0.32%. This was a drop of more than 125 bps from just three weeks earlier. As market participants fled risk assets, the flight to quality drove the entire U.S. yield curve below 1.00%.

  • Equity Liquidity at a Reasonable Price

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    Equity Liquidity at a Reasonable Price

    2020-03-17T12:00:00Z

    The fall in equity market values since February’s peak has been sudden and dramatic. During this period, the equity markets have functioned well at their primary task of facilitating price discovery at a time when values were changing rapidly.

  • Low Volatility in Europe and Asia

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    Low Volatility in Europe and Asia

    2020-03-17T11:39:00Z

    By this point, the infamous COVID-19 has made its way around the world and wreaked havoc through equity markets across the globe. We’ve already highlighted the value of protection in the U.S. and Canada.

  • The Best Offense Is Defense – Why VEQTOR Outperformed Last Week

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    The Best Offense Is Defense – Why VEQTOR Outperformed Last Week

    2020-03-17T11:33:00Z

    Six minutes after trading began on the New York Stock Exchange on March 9, 2020, the S&P 500® plummeted 7% and market-wide circuit breakers kicked in for the first time since the stock market crash of Oct. 27, 1997.