Core Insights - Foreign equities performed well in 2025, driven by trends outside the U.S. and tariff-related uncertainty, leading U.S. investors to seek ex-U.S. offerings [1] - The same trends are expected to continue into 2026, prompting renewed interest in foreign equities [1] Company Insights - T. Rowe Price has launched the Active Core International Equity ETF (TACN), which charges a zero basis point fee until January 30, 2027, and 0.2% thereafter [2] - TACN combines quantitative research with fundamental analysis, aiming to maintain disciplined risk controls, making it a robust long-term active solution for foreign equities allocations [4] Industry Insights - Active ETFs are gaining popularity among investors for their flexibility and fundamental analysis capabilities [3] - The current market conditions, including a declining dollar and inflation uncertainty, present significant opportunities in ex-U.S. equities, making TACN's active core approach appealing for portfolio refreshment [6]

Mexican financial assets are closing out one of their strongest years in decades, stunning global investors and decisively outperforming Wall Street benchmarks. A synchronized rally in equities and the Mexican peso has erased early fears that renewed U.S. protectionist rhetoric under President Donald Trump would derail Mexico's markets. Instead, 2025 has turned into a historic year for Mexican assets. Mexico's Market Rally Leaves Wall Street In The Dust The iShares Mexico ETF (NYSE:EWW) surged more t ...

Job Market Analysis - Job creation has significantly slowed, with ADP's report indicating only 77,000 jobs added in February, down from a revised 186,000 in January and below the consensus estimate of 148,000 [3] - The slowdown is attributed to policy uncertainty and reduced consumer spending, leading to layoffs and hiring hesitancy among employers [3][4] Market Sentiment and Tariff Impact - President Trump has granted a one-month tariff exemption to major U.S. automakers, which has positively influenced stock market sentiment [5][6] - Despite this, uncertainty remains regarding the long-term impact of tariffs on corporate profits and consumer spending, which continues to weigh on market performance [4][7] Historical Market Corrections - The S&P 500 has experienced approximately 38 market corrections since the 1950s, averaging a correction every 1.84 years, with the last one occurring in 2022 [8][9] - Historical data suggests that after a market correction, the S&P 500 typically rebounds, averaging over 8% gains one month later and more than 24% one year later [11] Gold Mining Sector Insights - Gold miners are currently trading at historically low valuations despite gold prices nearing all-time highs, with the VanEck ETF trading at just over 12 times forward earnings, a 44% discount to the S&P 500 [14][16] - The disconnect between gold prices and miner valuations is seen as an anomaly that is expected to correct, leading to potential gains for gold stocks [16] Investment Opportunities - Recommended gold mining companies include Agnico Eagle Mines (AEM) and Alamos Gold (AGI), which are generating substantial free cash flow [18] - A suggested trade involves buying QQQ when its price is 10% or more off its 20-week range high, which historically has yielded an average return of 13.5% over six months [20] Market Psychology - The current market sentiment is characterized by "Extreme Fear," suggesting a potential opportunity for investors to consider buying [19][24] - Historical perspectives emphasize that discomfort in investing often leads to profitable opportunities, highlighting the importance of maintaining a long-term view [24]

Another higher-yield option Lee mentioned was BlackRock Science and Technology Trust II (NYSE: BSTZ) , a technology-oriented income fund paying monthly distributions exceeding 11%. These types of funds are not designed for ultra-conservative investors, but for those willing to accept some volatility, the income potential can be compelling.We also discussed more specialized options. One that stood out was the Gabelli Gold, Natural Resources & Income Trust (NYSE: GGN) . Managed by Mario Gabelli’s firm, it hol ...

Core Insights - The State Street SPDR NYSE Technology ETF (XNTK) is a passively managed ETF launched on September 25, 2000, providing broad exposure to the Technology - Broad segment of the equity market [1] - XNTK has gained popularity among retail and institutional investors due to its low costs, transparency, flexibility, and tax efficiency, making it suitable for long-term investment [1] Fund Overview - Sponsored by State Street Investment Management, XNTK has over $1.5 billion in assets, positioning it as one of the larger ETFs in the Technology - Broad segment [3] - The ETF aims to match the performance of the NYSE Technology Index, which includes 35 leading U.S.-listed technology companies [3] Cost Structure - XNTK has an annual operating expense ratio of 0.35%, making it one of the least expensive options in its category [4] - The ETF offers a 12-month trailing dividend yield of 0.24% [4] Sector Exposure and Holdings - The ETF has a significant allocation of approximately 72.3% in the Information Technology sector, with Consumer Discretionary and Telecom as the next largest sectors [5] - Palantir Technologies Inc A (PLTR) constitutes about 5.09% of total assets, with the top 10 holdings representing approximately 41.49% of total assets under management [6] Performance Metrics - Year-to-date, XNTK has returned roughly 38.67%, and it has increased approximately 37.21% over the last 12 months as of December 22, 2025 [7] - The ETF has traded between $164.461 and $294.46 in the past 52 weeks, with a beta of 1.31 and a standard deviation of 24.77% over the trailing three-year period [7] Investment Alternatives - XNTK holds a Zacks ETF Rank of 2 (Buy), indicating favorable expected asset class return, expense ratio, and momentum [8] - Other ETFs in the technology space include the State Street Technology Select Sector SPDR ETF (XLK) and the Vanguard Information Technology ETF (VGT), with XLK having $93.47 billion in assets and VGT $112.27 billion [10]

Although the broader equities market can occasionally vacillate between order and outright chaos, small-capitalization enterprises tend to amplify the extreme ends of behavioral distribution. By their nature, businesses that are less financially resourced must operate with tighter margins for error. They also tend to enjoy less diversified revenue streams and have greater dependence on economic momentum.In effect, small caps act as high-beta expressions of investor confidence — or lack thereof. It's no wond ...

Core Viewpoint - The State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is a significant player in the Small Cap Blend segment of the US equity market, with over $13.37 billion in assets, making it one of the largest ETFs in this category [1] Group 1: Fund Overview - SPSM is a passively managed ETF launched on July 8, 2013, sponsored by State Street Investment Management [1] - The ETF aims to provide broad exposure to small-cap companies, which are defined as those with a market capitalization below $2 billion, offering high potential but also higher risk compared to larger companies [2] Group 2: Costs and Performance - SPSM has an annual operating expense ratio of 0.03%, making it one of the least expensive options in the market, with a 12-month trailing dividend yield of 1.68% [3] - The ETF has performed well, adding approximately 7.62% year-to-date and 7.1% over the past year, with a trading range between $35.35 and $48.90 in the last 52 weeks [6] Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Financials sector, comprising about 18.5% of the portfolio, followed by Industrials and Information Technology [4] - Hecla Mining Co (HL) is the largest individual holding at approximately 0.76% of total assets, with the top 10 holdings accounting for about 6.19% of total assets under management [5] Group 4: Risk and Alternatives - SPSM has a beta of 1.04 and a standard deviation of 20.58% over the trailing three-year period, indicating effective diversification with around 610 holdings [7] - The ETF holds a Zacks ETF Rank of 2 (Buy), suggesting it is a strong option for investors looking for exposure to the Small Cap Blend segment, with alternatives like the iShares Russell 2000 ETF (IWM) and iShares Core S&P Small-Cap ETF (IJR) also available [8][9] Group 5: Market Trends - There is a growing trend among retail and institutional investors towards passively managed ETFs due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10]

Core Insights - The State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is designed to provide broad exposure to the Mid Cap Value segment of the US equity market, with assets exceeding $2.47 billion, making it one of the larger ETFs in this category [1] Group 1: Investment Characteristics - Mid cap companies, with market capitalizations between $2 billion and $10 billion, offer a balance of lower risk and higher growth opportunities compared to small and large companies [2] - Value stocks typically have lower price-to-earnings and price-to-book ratios, and while they may have lower sales and earnings growth rates, they have historically outperformed growth stocks in long-term performance [3] Group 2: Cost and Performance - The ETF has an annual operating expense ratio of 0.15%, positioning it as one of the least expensive options in the market, with a 12-month trailing dividend yield of 1.79% [4] - MDYV aims to match the performance of the S&P MidCap 400 Value Index, with a year-to-date return of approximately 8.19% and a 1-year return of about 3.92% as of December 17, 2025 [7] Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Financials sector, comprising about 21% of the portfolio, followed by Industrials and Consumer Discretionary [5] - Flex Ltd accounts for approximately 1.52% of total assets, with the top 10 holdings representing about 10.73% of total assets under management [6] Group 4: Risk Assessment - MDYV has a beta of 1.03 and a standard deviation of 18.51% over the trailing three-year period, indicating it is a medium-risk investment option [8] Group 5: Alternatives - Other ETFs in the mid-cap value space include the iShares Russell Mid-Cap Value ETF (IWS) and the Vanguard Mid-Cap Value ETF (VOE), with assets of $14.30 billion and $19.86 billion respectively, and expense ratios of 0.23% and 0.07% [11]

Core Insights - Avantis Investors has surpassed $100 billion in total assets under management (AUM), driven by significant inflows into its largest ETF, AVUV, which recently exceeded $20 billion in AUM [1][2] - The Avantis U.S. Small Cap Value ETF (AVUV) has been a major contributor, adding approximately $4.5 billion in AUM since the start of 2025, with $1 billion coming from net inflows in the last three months [1][3] - AVUV charges a fee of 25 basis points and aims to combine the benefits of index tracking with active management [2] - Year-to-date, AVUV has returned 11.5%, outperforming its category average over the last three and five years with returns of 14% and 15.2%, respectively [3] - Avantis Investors offers five ETFs with over $10 billion in AUM and eight with over $1 billion, including AVUV and the Avantis Investors Core Fixed Income ETF (AVIG) with $1.4 billion in AUM [4] Industry Context - Avantis Investors is recognized as a significant player in the ETF expansion and product proliferation landscape, providing various options for investors looking to enhance their portfolios [5]

Core Insights - The State Street SPDR MSCI USA StrategicFactors ETF (QUS) is designed to provide broad exposure to the Large Cap Blend segment of the US equity market, with assets exceeding $1.54 billion, making it one of the larger ETFs in this category [1] Group 1: Fund Overview - QUS is a passively managed ETF launched on April 15, 2015, sponsored by State Street Investment Management [1] - The ETF targets large cap companies, typically with market capitalizations above $10 billion, offering a stable investment option with less risk compared to mid and small cap companies [2] Group 2: Costs and Performance - The annual operating expenses for QUS are 0.15%, positioning it as one of the cheaper options in the ETF space, with a 12-month trailing dividend yield of 2.15% [3] - The ETF has returned approximately 14.35% year-to-date and 10.11% over the past year, with a trading range between $140.84 and $174.67 in the last 52 weeks [6] Group 3: Sector Exposure and Holdings - QUS has a significant allocation to the Information Technology sector, comprising about 27.1% of the portfolio, followed by Financials and Healthcare [4] - The top 10 holdings account for approximately 22.57% of total assets, with Apple Inc (AAPL) making up about 3.25% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA) [5] Group 4: Risk and Alternatives - The ETF has a beta of 0.87 and a standard deviation of 12.3% over the trailing three-year period, indicating a medium risk profile [7] - QUS carries a Zacks ETF Rank of 3 (Hold), suggesting it is a sufficient option for investors seeking exposure to the Large Cap Blend market segment, with alternatives like SPDR S&P 500 ETF (SPY) and Vanguard S&P 500 ETF (VOO) also available [8][9] Group 5: Bottom Line - Passively managed ETFs like QUS are increasingly popular among retail and institutional investors due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10]