Core Insights - Hedge funds have been actively buying and selling throughout the third quarter, with their 13F filings revealing key investment trends and favorites [2] Group 1: SPDR S&P 500 ETF (SPY) - SPY continues to dominate the market, tracking the S&P 500 index and holding approximately 500 large-cap U.S. stocks, with an expense ratio of 0.09% and a yield of 1.04% [4] - The fund has a significant tech focus, allocating 34.54% to technology, followed by financials at 13.44% and consumer discretionary at 10.50% [4] - SPY's top 10 holdings constitute 46% of the portfolio, including major companies like Nvidia, Microsoft, Apple, Meta, Tesla, and Amazon [4] - Point72 Asset Management increased its holding in SPY by 3.3%, totaling 5.89% of its portfolio, while Tudor Investment added a new position with 3,650,000 shares, representing 4.19% of its portfolio [5] - SPY has achieved a 1-year return of 14.85% and a 3-year return of 20.41%, with a year-to-date gain of 17.65% [5] Group 2: Invesco QQQ Trust (QQQ) - The Invesco QQQ Trust has seen increased interest from hedge funds, with Elliott Investment Management raising its position by 3.3% to 5.28% of its portfolio, and Citadel Advisors increasing its stake by 0.59% to 4.04% [8] - Point72 Asset Management also increased its stake in QQQ by 1.56% [8] - QQQ has gained 21.67% year-to-date, with over 50% of its allocation in technology and 53% in its top 10 holdings [7] Group 3: iShares Core S&P 500 ETF (IVV) - Ray Dalio raised his stake in IVV by 4.83%, now holding over 1 million shares, which represents 10.62% of his portfolio [7]

Core Viewpoint - The iShares MSCI Global Silver and Metals Miners ETF (SLVP) and VanEck Gold Miners ETF (GDX) provide different exposures to precious metals mining, with SLVP focusing on silver and GDX on gold, impacting their performance, risk, and investor suitability [2][8]. Cost and Size Comparison - SLVP has an expense ratio of 0.39% and AUM of $816.5 million, while GDX has a higher expense ratio of 0.51% and significantly larger AUM of $27.01 billion [3]. - The one-year return for SLVP is 158.6%, compared to GDX's 132.9%, indicating SLVP's stronger recent performance [3]. Performance and Risk Comparison - Over five years, SLVP has a max drawdown of 56.22%, while GDX has a lower max drawdown of 46.52% [4]. - The growth of $1,000 over five years is $2,208 for SLVP and $2,555 for GDX, showing GDX's superior long-term performance despite its higher expense ratio [4][10]. Portfolio Composition - GDX consists of 55 holdings, including major companies like Agnico Eagle Mines Ltd and Newmont Corp, focusing on global gold mining [5]. - SLVP holds 41 companies, primarily in silver and diversified metals, with major positions in Hecla Mining and Fresnillo Plc, indicating a more concentrated investment strategy [7]. Investor Implications - GDX's larger AUM and lower beta of 0.87 suggest it is less volatile than the market, making it a more stable investment option for those seeking exposure to precious metals [8]. - SLVP, while more volatile due to silver's industrial uses, has performed better over the past year, potentially appealing to investors looking for higher short-term gains [9][11].

Group 1: Consumer Shopping Trends - A record 158.9 million consumers are expected to have shopped on "Super Saturday," reflecting a 1.1% increase from 157.2 million last year and surpassing the previous record of 158.5 million in 2022 [1] - Despite economic challenges, the late-season shopping surge is anticipated to help retailers close the final quarter stronger, supporting earnings growth and ETFs linked to consumer staples and retail benchmarks [2] - Consumers are shifting towards quality and meaningful gifts rather than just seeking discounts, indicating a "tactical consumer" approach amid a "two-speed" economy [4] Group 2: Retail Sales Outlook - Holiday spending is projected to exceed $1 trillion, but growth will primarily be driven by higher prices rather than increased consumer spending, with S&P Global Ratings forecasting a 4% growth in U.S. holiday sales for 2025 [5] - Analysts expect modestly positive retail sales in 2026, influenced by tariff-related inflation and some growth in consumer staples, despite weak discretionary spending [8] Group 3: ETFs Benefiting from Trends - ETFs focusing on consumer staples and those with robust omnichannel networks, such as Walmart and Amazon, are expected to benefit from the current shopping trends and sustained holiday demand [9][10] - Specific ETFs highlighted include: - VanEck Retail ETF (RTH) with assets of $248 million, top holdings in AMZN (19.53%), WMT (11.79%), and COST (8.06%), and an 11.6% year-to-date increase [11] - ProShares Online Retail ETF (ONLN) with an average market cap of $179.17 billion, top holdings in AMZN (23.35%), BABA (11.44%), and EBAY (8.11%), and a 31.9% year-to-date surge [12] - Global X E-commerce ETF (EBIZ) with net assets of $51 million, top holdings in Expedia (6.10%), SHOP (5.57%), and BABA (4.87%), and a 19.4% year-to-date increase [13] - Fidelity MSCI Consumer Staples Index ETF (FSTA) with net assets of $1.33 billion, top holdings in WMT (14.48%), COST (11.96%), and Procter and Gamble (10.05%), and a 2.4% year-to-date gain [14]

Company Overview - Corton Capital Inc. was founded in 2018 and focuses on providing solutions to the challenges individuals face in planning and securing their financial future [2]. Financial Products and Services - Corton aims to enhance financial security through financial education, partnerships with specialized managers, and risk management via appropriate asset allocation [3]. - The company offers both traditional and alternative financial products to help individuals achieve their financial goals at a comfortable risk level [3]. Recent Announcements - Corton Capital has announced cash distributions for the Class ETF Units of the Corton Enhanced Income Fund, amounting to $0.06 per unit for December, with payments scheduled for January 8, 2026, to unitholders of record on December 31, 2025 [1].

Core Insights - Many individuals enter retirement with optimism but later find their income insufficient to cover expenses, largely due to overreliance on Social Security [1] - The average monthly Social Security benefit is slightly over $2,000, and there are concerns about potential future benefit cuts, highlighting the need for a backup income plan [2] Investment Opportunities - **Invesco S&P 500 High Dividend Low Volatility ETF (SPHD)**: This ETF provides access to S&P 500 companies that offer generous dividends with low volatility, making it suitable for retirees seeking steady income [4][5] - **iShares Preferred and Income Securities ETF (PFF)**: PFF holds a diversified portfolio of U.S. preferred shares, offering higher yields than typical dividend ETFs while distributing dividends monthly, though it is heavily weighted in the financial sector [6][7] - **JPMorgan Equity Premium Income ETF (JEPI)**: JEPI invests in large U.S. businesses and utilizes covered calls to generate income, providing a moderate-risk option for retirees focused on predictable income rather than high growth [8][9]

Core Insights - The Invesco Aerospace & Defense ETF (PPA) is a $6.5 billion fund that invests in companies involved in the development, manufacturing, operations, and support of U.S. defense, homeland security, and aerospace operations [1] Group 1: Fund Overview - PPA focuses exclusively on U.S. equity ETFs, specifically targeting the aerospace and defense sectors [1] - The fund's size is significant at $6.5 billion, indicating a robust investment interest in the defense and aerospace industries [1] Group 2: Analytical Background - The article mentions the analytical expertise of The Sunday Investor, who has developed a proprietary ETF Rankings system that evaluates nearly 1,000 ETFs based on various factors [1] - The ranking system includes metrics such as costs, liquidity, risk, size, value, dividends, growth, quality, momentum, and sentiment, culminating in a composite score from 1-10 [1]

Core Insights - Model portfolios utilizing exchange-traded funds (ETFs) are increasingly favored in the financial advisory sector, with a significant portion of assets allocated to these models [2][3]. Group 1: Market Trends - An estimated $36 trillion is allocated to model portfolios across financial intermediary channels, with 65% ($23 trillion) managed in-house by firms creating their own models [2]. - The trend towards model portfolios is expected to continue due to their cost-effectiveness, diversification, and ease of rebalancing, making them suitable for various life stages [2][3]. Group 2: Benefits for Financial Advisors - Model portfolios help financial advisors maintain consistency in investment strategies, reducing the temptation to time the market or pursue short-term trends [3]. - The ability to scale portfolio management processes is a key advantage for advisory firms, allowing them to leverage practice-level resources effectively [4]. Group 3: Outsourcing and Asset Management - For advisory firms that prefer not to manage their own models, outsourcing options are expanding, including broker-dealers, asset managers, and third-party strategists [5]. - Among the 35% of model portfolio assets that are outsourced, there is a mix of purely outsourced assets and those modified by advisors or clients [5]. Group 4: ETF Advantages - ETFs are appealing due to their low costs, comparable to the cheapest mutual funds, and their tax efficiency, which is a significant benefit for end users [6]. - While liquidity is often highlighted as a benefit of ETFs, it is less critical in model portfolios designed for long-term, buy-and-hold strategies [6].

Core Insights - The U.S. federal government shutdown can lead to furloughs, operational delays, and regulatory slowdowns, indirectly affecting ETFs despite continued trading on major exchanges [1] Group 1: Economic Impact - Duration of the shutdown is critical; longer shutdowns increase the potential for real economic impacts such as delayed contracts and budget disruptions [2] - Delays in macroeconomic data releases can increase market volatility and reduce visibility for fund managers and investors [2] Group 2: Sector-Specific Risks - Certain sectors, including travel, government contracting, and regulatory-heavy industries, are more vulnerable to the effects of a government shutdown [2][4] - ETFs related to these sectors may experience heightened risks due to their exposure to government operations and contracts [4] Group 3: Fund Operational Risks - Most ETFs will continue to operate normally, but new launches or complex fund structures may face delays due to staffing impacts at the U.S. Securities and Exchange Commission [3] - Delayed SEC approvals for new ETF launches or structural changes can hinder market innovation and responsiveness [4]

Core Insights - The First Trust Water ETF (FIW) has faced challenges since the last review on November 5, 2024, primarily due to high valuation, lower growth prospects, and disappointing earnings momentum [1] Group 1: Performance and Valuation - FIW has struggled in performance since the previous analysis, indicating potential concerns for investors [1] Group 2: Analyst Background - The Sunday Investor has completed educational requirements for the Chartered Investment Manager designation and is on track to become a licensed options and derivatives trading advisor, focusing on U.S. Equity ETFs [1]

Group 1 - The SPDR S&P Capital Markets ETF (NYSEARCA: KCE) aims to track the S&P Capital Markets Select Industry Index and was launched in November 2005 with an expense ratio of 0.35% and net assets of $590 million [1] - Blue Chip Portfolios is an investment publication company that provides insights on single stocks, ETFs, and CEFs, and publishes the Blue Chip Portfolio's Newsletter on Beehiiv [1]