News

Quantified Funds 8/24/26

Mon, 24 Aug 2026 20:05:12 GMT

U.S. equity markets posted losses in all three indexes last week. The S&P 500 fell 1.39%, the NASDAQ Composite declined 2.02%, and the Dow Jones Industrial Average decreased by 0.78%.

Three of the 11 sectors were up last week, led by Health Care, which gained 4.33%.

Four of the 12 Quantified Funds were up last week: The Quantified Global Fund (QGBLX) rose 0.99%, the Quantified Government Income Tactical Fund (QGITX) gained 0.46%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) increased by 0.39%, the Quantified Alternative Investment Fund (QALTX) added 0.28%, the Quantified STF Fund (QSTFX) decreased by 0.16%, the Quantified Managed Income Fund (QBDSX) was down 0.38%, the Quantified Common Ground Fund (QCGDX) fell 1.01%, the Quantified Rising Dividend Tactical Fund (QRDTX) lost 1.20%, the Quantified Tactical Sectors Fund (QTSSX) declined 1.23%, the Quantified Pattern Recognition Fund (QSPMX) fell 1.31%, the Quantified Market Leaders Fund (QMLFX) lost 2.45%, and the Quantified Evolution Plus Fund (QEVOX) decreased by 2.72%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Value (32.30%), Small-Cap Value (25.94%), Small-Cap Growth (6.34%), 2X S&P 500 and 2X NASDAQ 100 exposure (25.00%), Energy (7.18%), Financials (14.36%), Technology (7.18%), and single-stock ETFs (2X or -1X) (5%).

The cash level within the Quantified Alternative Investment Fund increased by 0.78% last week (18.53%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the Invesco 0-5 Yr US TIPS ETF (PBTP, 2.08%) increased by 1.05%, while allocation to the Fidelity Clean Energy ETF (FRNW, 2.85%) decreased by 1.01%. Last week, the funds were up 0.19% and down 2.52%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 6% net long exposure. On Monday, the position shifted to a 5% net long exposure. On Wednesday, the position changed to a 7% net long exposure. On Thursday, the position changed to an 8% net long exposure. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund held a 10% net short exposure throughout the week.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) started the week with a 200% net long exposure. On Monday, the position switched to a 0% net long exposure. The Quantified STF Fund (QSTFX) was down 0.16% for the week, compared to a loss of 2.43% for the NASDAQ 100 Index (NDX) and a loss of 2.46% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 29.60%) and the Alerian MLP ETF (AMLP, 6.81%). Last week, the securities were flat and down 0.38%, respectively. The cash allocation was at 17.76%.

The 10-year U.S. Treasury closed the week up 0.89%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund held a 15% net short exposure throughout the week. The S&P 500 E-mini futures held a 0% net long exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 10% net long exposure. On Monday, the position moved to a 40% net long exposure. On Tuesday, the position changed to a 110% net long exposure. On Wednesday, the position changed to an 180% net long exposure. On Thursday, the position changed to a 110% net long exposure. On Friday, the position reallocated to a 150% net long exposure.

The Quantified Government Income Tactical Fund (QGITX) started the week with an 8.80% net short exposure to Treasurys. On Monday, the position switched to a 3.90% net long exposure to Treasurys. On Tuesday, the position reallocated to a 35.10% net long exposure to Treasurys. On Thursday, the position switched to an 8.80% net short exposure to Treasurys. On Friday, the position shifted to a 35.10% net long exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 65% in the S&P 500, 21% in the Russell 2000, 11% in emerging markets, and 3% in the NASDAQ 100.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Broadcom Inc. (AVGO, 6.71%) and Costco Wholesale Corp. (COST, 6.16%). Last week, the securities were down 6.24% and 1.39%, respectively. The cash allocation was at 2.50%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 19.50%) and Haleon PLC (HLN, 6.04%). Last week, the securities were down 1.37% and up 3.09%, respectively. The cash allocation was at 2.50%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the State Street Energy Select Sector SPDR ETF (XLE, 39%), the State Street Financial Select Sector SPDR ETF (XLF, 39%), the Vanguard Financials ETF (VFH, 39%), and the State Street Technology Select Sector SPDR ETF (XLK, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

As of the most recent prospectus, the expense ratios for the Quantified Gold Futures Tracking Fund are as follows: Investors’ Class (No Load), 1.50%; Class A, 1.50%; Class C, 2.10%. The maximum sales charge imposed on Class A share purchases (as percentage of offering price) is 5.75%. An additional 2% redemption fee applies to all share classes, including Investors’ Class, when shares are redeemed within 7 days of purchase.

The performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate and an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. To obtain performance data current to the most recent month-end please call 1-855-647-8268.

Risks associated with the Quantified Funds include active frequent trading risk, aggressive investment techniques, small and mid-cap companies risk, counter party risk, depository receipt risk, derivatives risk, equity securities risk, foreign securities risk, holding cash risk, limited history of operations risk, lower quality debt securities risk, convertible bond risk, non-diversification risk, investing in other investment companies (including ETFs) risk, shorting risk, asset backed securities risk, commodity risk, credit risk, interest risk, prepayment risk, mortgage backed securities risk, hedging and leverage risk, preferred stock risk, and MLP and REIT risks. For detailed information relating to these risks, please see prospectus.

The principal risks of investing in The Quantified Gold Futures Tracking Fund are Risks of the Sub-advisor’s Investment Strategy, Risks of Aggressive Investment Techniques, High Portfolio Turnover, Risk of Investing in Derivatives, Risks of Investing in ETFs, Risks of Investing in Other Investment Companies, Leverage Risk, Taxation Risk, Concentration Risk, Gold Risk, Wholly-owned Corporation Risk, Risk of Non-Diversification and interest rate risk. “Gold Risk” includes volatility, price fluctuations over short periods, risks associated with global monetary, economic, social and political conditions and developments, currency devaluation and revaluation and restrictions, trading and transactional restrictions.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or Quantified Gold Futures Tracking Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 8/24/26

Mon, 24 Aug 2026 19:57:55 GMT

Last week, the gold spot price rose 5.18%, and the U.S. Dollar Index fell 0.87%. The Quantified Gold Futures Tracking Fund (QGLDX) gained 5.53% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., advanced 5.48% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.07%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The age of immediacy—and why investing still requires patience

Tue, 10 Mar 2026 15:01:39 GMT

By Will Hubbard

We live in a world that is increasingly intolerant of waiting. That shift affects almost everything in our lives—and it may also be shaping how investors experience markets.

I saw it in my own life recently. I needed batteries and did not have time to run to the store that day. So I checked Amazon and saw they were available for same-day delivery. Done. A few years ago, I probably would have just picked them up while I was out. Now, apparently, even batteries feel too urgent to wait for.

That’s a small example, but it reflects a broader shift. Entertainment is shorter. Delivery is faster. Feedback is almost instant. More of daily life is built to reduce friction, shorten attention spans, and give us things quickly.

It also feeds the brain’s reward-response loop. Deloitte’s 2025 Digital Media Trends report found that Americans spend about six hours a day on media and entertainment, with social platforms competing directly for that time. The Pew Research Center reported that 46% of U.S. teens say they are online almost constantly. That is a useful reminder of how nonstop life has become, especially for the next generation growing up with immediate gratification as a central feature (or bug) of their lives.

This has real behavioral consequences, and not just for markets. A 2024 review of trends in cognitive sciences noted that the mere presence of a phone can diminish attention and increase errors in cognitive tasks. Smartphone use can also intensify boredom rather than relieve it. Maybe we shouldn’t appease young kids with a tablet while out to eat?

In other words, constant stimulation does not necessarily make us calmer. It can make stillness, boredom, and discomfort harder to tolerate.

That matters for investors because investing still requires all three.

Investing runs on a different timeline

Investing requires patience. It requires uncertainty. It requires the ability to endure periods of unease without assuming that something is broken or that action is immediately needed just because results aren’t instantly available.

Long-term returns do not arrive smoothly, and risk is not a flaw in the system. Risk is part of the price of long-term growth.

The problem is that many investors now bring habits shaped by a culture of immediacy into a process that demands the opposite. When investors begin to expect that same responsiveness from markets, even a modest pullback can create emotional tension.

A rough week, a bad month, or a stretch of uncomfortable headlines can feel much more threatening than it really is, even when nothing meaningful has changed about the investor’s long-term goals, time horizon, or financial plan.

The two sides of risk tolerance

This tension shows up clearly in the concept of risk tolerance.

Risk tolerance has two parts: the ability and willingness to take risk.

Ability is more objective. It includes factors such as time horizon, savings, income needs, and overall financial flexibility.

Willingness is more emotional. It reflects how comfortable an investor actually feels when markets are volatile, headlines are unsettling, and portfolios are under pressure.

Research from a 2020 FINRA Investor Education Foundation highlights how these two can diverge. The foundation found that 42% of respondents reported a lower subjective willingness to take risk during market volatility, yet 66% of those respondents had no actual change in their objective risk tolerance. In other words, their ability to take risk did not change, but their willingness did. This research was further confirmed in a 2024 study, which found that younger investors were less willing to take substantial investment risk than previous generations.

That is an important observation, especially after a long period of strong equity returns. The past decade—especially the performance of the S&P 500 Index—may have distorted some investors’ understanding of what risk really feels like. In a strong market, an aggressive portfolio can feel easy to own. In a weaker market, that same portfolio may suddenly feel unbearable.

Why discipline matters during volatility

That is why understanding risk tolerance matters so much. The goal is not to eliminate anxiety entirely. The goal is to size risk in a way that keeps anxiety contained enough for an investor to stay disciplined and remain on track toward long-term goals. A portfolio can look right on paper and still be wrong in practice if it creates enough fear to trigger poor decisions at the worst possible time.

Reacting emotionally can have real costs. Our internal research shows that the market’s worst days and best days often occur close together. Volatility tends to cluster. If an investor is in the market during the bad days, they need to be there during the good ones, too. Missing part of the rebound can do meaningful damage to long-term compounding.

The role of rules-based investment frameworks

This is one reason rules-based and risk-managed investment frameworks, such as those developed at Flexible Plan Investments, can be so valuable.

These frameworks can help reduce the pressure to make emotional, in-the-moment decisions. They allow us to test different hypotheses over market cycles and evaluate what-if scenarios based on experience.

History doesn’t repeat exactly, but it often rhymes. Understanding how markets behaved during past periods of stress can help inform how investors think about future risks. Insights from these kinds of simulations can help investors respond to changing market conditions with process and discipline instead of fear and immediacy.

Patience in an impatient world

The challenge for investors today is not simply understanding markets. It is resisting a broader cultural pull toward instant reaction and the feeling that every situation requires a decision right now.

In a world that increasingly conditions us to relieve discomfort immediately, successful investing still requires something harder: patience, discipline, and perspective.

Market Update 3/9/26

Tue, 10 Mar 2026 14:13:01 GMT

By Daniel Poppe

Market snapshot

Stocks: The major U.S. stock market indexes were lower last week. The Russell 2000 fell 4.03%, the Dow Jones Industrial Average declined 2.92%, the S&P 500 lost 1.99%, and the NASDAQ Composite decreased by 1.22%.
Bonds: The 10-year Treasury yield rose from 3.97% to 4.15%.
Gold: Spot gold fell 2.03% last week, closing above $5,100 an ounce.
Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment, historically positive for stocks, bonds, and gold but with a substantial risk of a downturn for gold. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Rising, which favors stocks over gold and then bonds.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The SPDR S&P 500 ETF (SPY), which tracks the performance of the S&P 500, finished the week below its 50-day moving average but above its 200-day moving average.

Heightened tensions in the Middle East have led to a flurry of events in financial markets. Oil prices have surged amid supply concerns, and volatility has increased as uncertainty grows around potential developments. U.S. equity markets declined in response.

Investors had already been uneasy since late last year. Concerns that productivity gains from AI might not materialize as quickly as hoped contributed to the sideways market trend. A weak employment report released last Friday added to those concerns.

With most fourth-quarter 2025 earnings reports now behind us, investors will be watching the economy closely for impacts from the recent oil shock. The latest earnings numbers came in strong, but supply-chain disruptions could lead to greater uncertainty about 2026 profits. The market still hopes that advances in AI will translate into strong economic growth.

Bonds

The iShares 7-10 Year Treasury Bond ETF (IEF), which tracks intermediate-term Treasury bonds, finished the week above both its 50-day and 200-day moving averages.

Despite recent stock market volatility, bonds have not served in their traditional role as a safe-haven asset. Instead, they have pulled back alongside stocks. This could be due to inflation concerns driven by the spike in oil prices. Higher energy costs can ripple through the economy, potentially reducing the Federal Reserve’s willingness to lower interest rates.

The Fed left its target policy rate range unchanged at its January meeting. The Federal Open Market Committee will meet next week to consider whether to adjust the policy rate. CME Group’s FedWatch tool shows investors currently assigning a high probability to no rate change at the meeting.

Gold

The SPDR Gold Shares ETF (GLD), which tracks the price of gold, finished the week above both its 50-day and 200-day moving averages.

Flexible Plan Investments (FPI) is the subadviser to the only U.S. gold mutual fund, The Quantified Gold Futures Tracking Fund, formerly The Gold Bullion Strategy Fund. Launched in 2013, the fund is designed to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

FPI’s indicators

The QFC S&P Pattern Recognition strategy’s primary signal held a 200% net long exposure to the S&P 500 throughout the week.

Our QFC Political Seasonality Index strategy was aggressive throughout the week. (Our QFC Political Seasonality Index—with all of the daily signals—is available post-login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

The Volatility Adjusted NASDAQ strategy started the week with a 40% net long exposure to the NASDAQ 100. Exposure increased to 80% net long on Monday, declined to 60% net long on Wednesday, and returned to 40% net long on Thursday.

The Systematic Advantage strategy started the week with a 90% net long exposure to the S&P 500. Exposure decreased to 60% net long on Monday.

Our QFC Self-adjusting Trend Following strategy’s primary signal was 200% net long the NASDAQ 100 going into the week. Exposure changed to 0% on Monday and returned to 200% net long on Wednesday.

Volatility Adjusted NASDAQ, Systematic Advantage, QFC Self-adjusting Trend Following, and the QFC S&P Pattern Recognition strategies can all employ leverage, so the investment positions may at times exceed 100%.

Our Classic model remained in stocks throughout last week. Most of our Classic accounts follow a signal that will allow the strategy to change exposure in as little as a week. A few accounts are on platforms that are more restrictive and can take up to one month to generate a new signal.

FPI’s Growth and Inflation measure is one of our Market Regime Indicators. It shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 75% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Stocks have the highest rate of return in Normal periods. Gold has the second-highest return but has also experienced high drawdown in these environments.

Our S&P volatility regime is registering a High and Rising reading, which favors stocks over gold and then bonds from an annualized return standpoint. The combination has occurred 28% of the time since 2003.

Quantified Funds 3/9/26

Mon, 09 Mar 2026 19:25:48 GMT

U.S. equity markets posted losses across all three indexes last week. The S&P 500 lost 1.99%, the NASDAQ Composite fell 1.22%, and the Dow Jones Industrial Average declined 2.92%. Energy gained 1% and was the only one of the 11 sectors to finish higher. Two of the 13 Quantified Funds gained last week: The Quantified Evolution Plus Fund (QEVOX) rose 8.05%, the Quantified Government Income Tactical Fund (QGITX) advanced 0.14%, the Quantified Managed Income Fund (QBDSX) fell 0.86%, the Quantified Tactical Fixed Income Fund (QFITX) lost 1.04%, the Quantified Alternative Investment Fund (QALTX) declined 2.59%, the Quantified Common Ground Fund (QCGDX) fell 3.09%, the Quantified STF Fund (QSTFX) was down 3.70%, the Quantified Pattern Recognition Fund (QSPMX) decreased by 4.20%, the Quantified Rising Dividend Tactical Fund (QRDTX) lost 4.45%, the Quantified Tactical Sectors Fund (QTSSX) declined 4.49%, the Quantified Global Fund (QGBLX) decreased by 6.42%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) fell 6.44%, and the Quantified Market Leaders Fund (QMLFX) decreased by 6.46%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Small-Cap Value (31.20%), Mid-Cap Value (15.60%), Large-Cap Value (7.80%), and Large-Cap Blend (19.50%). Total sector ETF weightings were at 63.90%, holding exposures to Emerging Markets, Industrials, Energy, and Materials.

The cash level within the Quantified Alternative Investment Fund increased by 3.33% last week (29.83%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the Invesco S&P 500 Equal Weight Health Care ETF (RSPH, 2.92%) increased by 0.77%, while allocation to the VanEck Natural Resources ETF (HAP, 2.30%) decreased by 1.52%. Last week, the funds were down 5.29% and 4.91%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 2% net long exposure. On Monday, the position moved to a 4% net long exposure. On Wednesday, the position shifted to a 3% net long exposure. On Thursday, the position shifted to a 2% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund held a 10% net short exposure throughout the week.

The QFC Self-adjusting Trend Following strategy’s signal of exposure in the NASDAQ 100 Index (NDX) started the week with a 200% net long exposure. On Monday, the position reallocated to a 0% net long exposure. On Wednesday, the position switched to a 200% net long exposure. The Quantified STF Fund (QSTFX) lost 3.70% for the week, compared to a loss of 1.24% for the NASDAQ 100 Index (NDX) and a loss of 1.27% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund’s (QBDSX) largest ETF allocations were the iShares 20+ Year Treasury Bond ETF (TLT, 11.61%) and the iShares 1-3 Year Treasury Bond ETF (SHY, 10.40%). Last week, the securities were down 2.27% and 0.27%, respectively. The cash allocation was at 12.40%.

The 10-year U.S. Treasury closed the week up 5.05%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund held a 15% net short exposure throughout the week. The S&P 500 E-mini futures held a 3% net short exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) held a 200% net long exposure throughout the week.

The Quantified Tactical Fixed Income Fund (QFITX) started the week with a 100% net long exposure to high-yield bonds. On Wednesday, the position switched to a 100% net short exposure to high-yield bonds. On Thursday, the position reallocated to a 200% net long exposure to high-yield bonds. On Friday, the position switched to a 100% net short exposure to high-yield bonds.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 16.50% net short exposure to Treasurys. On Tuesday, the position moved to a 33.80% net long exposure to Treasurys. On Wednesday, the position changed to a 6.50% net long exposure to Treasurys. On Thursday, the position shifted to a 2.60% net long exposure to Treasurys. On Friday, the position moved to a 6.50% net long exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 67% in gold, 20% in international equities, and 13% in emerging markets.

The Quantified Common Ground Fund’s (QCGDX) largest allocations were Catalyst Pharmaceuticals Inc. (CPRX, 7.76%) and Broadcom Inc. (AVGO, 6.03%). Last week, the securities were up 5.03% and 3.42%, respectively. The cash allocation was at 2.50%.

The Quantified Global Fund’s (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 10.21%) and Toyota Motor Corp. (TM, 6.05%). Last week, the securities were down 1.98% and 9.59%, respectively. The cash allocation was at 6.89%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the State Street SPDR S&P 500 ETF Trust (SPY, 39%), the State Street Energy Select Sector SPDR ETF (XLE, 39%), the State Street Industrial Select Sector SPDR ETF (XLI, 39%), and the State Street Materials Select Sector SPDR ETF (XLB, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (12/31/25)

Year-To-Date Ending (12/31/25)

1 Year Ending (12/31/25)

3 Years Ending (12/31/25)

5 Years Ending (12/31/25)

10 Years Ending (12/31/25)

Since * Inception Ending (12/31/25)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

11.02%

59.85%

29.88%

14.39%

12.04%

7.83%

1.46%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.80%)

5.11%

2.78%

0.68%

1.13%

0.78%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.79%)

0.98%

8.85%

2.23%

8.76%

7.21%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

2.29%

14.30%

6.93%

4.65%

3.84%

3.41%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(2.25%)

(2.47%)

27.06%

7.34%

14.73%

14.31%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

1.57%

1.02%

8.39%

8.12%

N/A

9.18%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

8.86%

7.61%

7.63%

1.64%

N/A

0.69%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

9.97%

27.23%

19.82%

13.42%

N/A

12.30%

1.79%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(2.58%)

(7.63%)

(5.11%)

(8.59%)

N/A

(5.21%)

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(2.07%)

4.10%

10.54%

N/A

(4.12%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

1.07%

3.93%

10.70%

N/A

0.57%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(0.51%)

5.52%

(1.76%)

N/A

(4.73%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(0.29%)

18.67%

N/A

14.03%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(2.79%)

(16.57%)

N/A

(13.14%)

1.72%

* Performance for periods of greater than one year are annualized.

As of the most recent prospectus, the expense ratios for the Quantified Gold Futures Tracking Fund are as follows: Investors’ Class (No Load), 1.46%; Class A, 1.46%; Class C, 2.05%. The maximum sales charge imposed on Class A share purchases (as percentage of offering price) is 5.75%. An additional 2% redemption fee applies to all share classes, including Investors’ Class, when shares are redeemed within 7 days of purchase.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 3/9/26

Mon, 09 Mar 2026 19:22:31 GMT

Last week, the gold spot price fell 2.03% and the U.S. Dollar Index rose 1.41%. The Quantified Gold Futures Tracking Fund (QGLDX)—formerly The Gold Bullion Strategy Fund—decreased by 2.21% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., declined 1.7% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.08%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (12/31/25)

Year-To-Date Ending (12/31/25)

1 Year Ending (12/31/25)

3 Years Ending (12/31/25)

5 Years Ending (12/31/25)

10 Years Ending (12/31/25)

Since * Inception Ending (12/31/25)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

11.02%

59.85%

29.88%

14.39%

12.04%

7.83%

1.46%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.80%)

5.11%

2.78%

0.68%

1.13%

0.78%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.79%)

0.98%

8.85%

2.23%

8.76%

7.21%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

2.29%

14.30%

6.93%

4.65%

3.84%

3.41%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(2.25%)

(2.47%)

27.06%

7.34%

14.73%

14.31%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

1.57%

1.02%

8.39%

8.12%

N/A

9.18%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

8.86%

7.61%

7.63%

1.64%

N/A

0.69%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

9.97%

27.23%

19.82%

13.42%

N/A

12.30%

1.79%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(2.58%)

(7.63%)

(5.11%)

(8.59%)

N/A

(5.21%)

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(2.07%)

4.10%

10.54%

N/A

(4.12%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

1.07%

3.93%

10.70%

N/A

0.57%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(0.51%)

5.52%

(1.76%)

N/A

(4.73%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(0.29%)

18.67%

N/A

14.03%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(2.79%)

(16.57%)

N/A

(13.14%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

ETF Deathwatch for June 2025

Fri, 18 Jul 2025 14:03:42 GMT

In June, 27 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list, and 58 were removed, bringing the total to 743.

Among the additions, 26 were due to low trading volume. The low volume could be due to the nature of their investment products. One addition was due to low assets under management (“AUM”). Our system takes into account both AUM and volume. If both remain low, these funds could be considered for closure.

Among the removals, 18 were due to delisting and 40 were due to improved health.

Seventy-two ETPs on Deathwatch this month have been in the market for at least 10 years, including many short ETPs.

The average asset level of the threatened ETPs on ETF Deathwatch decreased from $10.37 million to $10.32 million, and 83 products had assets of less than $2 million. The average age of products on the list decreased from 45.26 months to 44.77 months, and the number of products at least 5 years of age decreased to 139. The largest ETP on the list had an AUM of $24.98 million, while the smallest had assets of just $500,000.

Here is the complete list of 743 ETPs on ETF Deathwatch for June 2025 compiled using the objective ETF Deathwatch Criteria.

ETPs added to ETF Deathwatch for June due to low trading volume:

Alpha Architect Aggregate Bond ETF (BOXA)
Direxion Daily BRKB Bear 1X Shares (BRKD)
Teucrium 2x Daily Corn ETF (CXRN)
WEBs Defined Volatility QQQ ETF (DVQQ)
WEBs Defined Volatility SPY ETF (DVSP)
NestYield Total Return Guard ETF (EGGS)
Efficient Market Portfolio Plus ETF (EMPB)
Frontier Asset Absolute Return ETF (FARX)
YieldMax Dorsey Wright Featured 5 Income ETF (FEAT)
YieldMax Dorsey Wright Hybrid 5 Income ETF (FIVY)
Pacer Solactive Whitney Future of Warfare ETF (FOWF)
John Hancock Core Bond ETF (JHCR)
LSV Disciplined Value ETF (LSVD)
Pacer US Cash Cows Bond ETF (MILK)
Neuberger Berman Growth ETF (NGBX)
Parnassus Value Select ETF (PRVS)
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI)
Coastal Compass 100 ETF (ROPE)
Return Stacked Bonds & Merger Arbitrage ETF (RSBA)
FT Vest US Equity Equal Weight Buffer ETF – December (RSDE)
Invesco ESG S&P 500 R Equal Weight ETF (RSPE)
FT Vest US Equity Quarterly Max Buffer ETF (SQMX)
FT Vest Emerging Market Buffer ETF – December (TDEC)
NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI)
US Global Technology And Aerospace & Defense ETF (WAR)
Teucrium 2x Daily Wheat ETF (WXET)

ETP added to ETF Deathwatch due to low AUM:

T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ)

ETPs removed from ETF Deathwatch due to delisting:

IQ Cleaner Transport ETF (CLNR)
VictoryShares Small Cap Volatility Wtd ETF (CSA)
Unity Wealth Partners Dynamic Capital Appreciation & Options ETF (DCAP)
Mast Global Battery Recycling & Production ETF (EV)
Foundations Dynamic Growth ETF (FDGR)
iShares LifePath Target Date 2025 ETF (ITDA)
KraneShares Dynamic Emerging Markets Strategy ETF (KEM)
Nuveen Small Cap Select ETF (NSCS)
IQ Clean Oceans ETF (OCEN)
Hartford Multifactor Low Volatility International Equity ETF (RODE)
Hartford Multifactor International Small Company ETF (ROIS)
Simplify US Small Cap PLUS Income ETF (SCY)
Syntax Stratified MidCap ETF (SMDY)
VanEck HIP Sustainable Muni ETF (SMI)
Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX)
Syntax Stratified SmallCap ETF (SSLY)
Syntax Stratified Total Market II ETF (SYII)
Defiance Daily Target 2X Long Uranium ETF (URAX)

ETPs removed from ETF Deathwatch due to improved health:

KraneShares Artificial Intelligence and Technology ETF (AGIX)
BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (BBBI)
Calamos Alternative Nasdaq & Bond ETF (CANQ)
Calvert US Large-Cap Diversity Equity And Inclusion Index ETF (CDEI)
GraniteShares 1x Short COIN Daily ETF (CONI)
Sprott Copper Miners ETF (COPP)
iShares MSCI Finland ETF (EFNL)
Macquarie Focused Emerging Markets Equity ETF (EMEQ)
Federated Hermes Short Duration Corporate ETF (FCSH)
First Trust Germany AlphaDEX Fund (FGM)
Federated Hermes MDT Large Cap Core ETF (FLCC)
Fidelity Clean Energy ETF (FRNW)
AdvisorShares Gerber Kawasaki ETF (GK)
Goldman Sachs Municipal Income ETF (GMUB)
iShares LifePath Target Date 2030 ETF (ITDB)
KFA Value Line Dynamic Core Equity Index ETF (KVLE)
VanEck Vectors NDR CMG Long/Flat Allocation ETF (LFEQ)
Themes Transatlantic Defense ETF (NATO)
The Nightview Fund (NITE)
AllianzIM US Equity Buffer15 Uncapped Nov ETF (NVBU)
OneAscent Small Cap Core ETF (OASC)
PGIM Municipal Income Opportunities ETF (PMIO)
Pacer Swan SOS Flex July ETF (PSFJ)
Invesco Dynamic Oil & Gas Services ETF (PXJ)
Invesco Galaxy Ethereum ETF (QETH)
AdvisorShares Q Dynamic Growth ETF (QPX)
Defiance Nasdaq 100 Income Target ETF (QQQT)
Innovator Growth-100 Accelerated Plus ETF-April (QTAP)
Global X Yieldco Index ETF (RNRG)
FT Vest US Equity Equal Weight Buffer ETF – September (RSSE)
Sofi 50 ETF (SFYF)
Sofi Next 500 ETF (SEYX)
Syntax Stratified Total Market Hedged ETF (SHUS)
ETRACS MON PAY 2X LEV –B (SMHB)
Direxion Daily Robotics Artificial Intelligence & Automation Index Bull 3X Share (UBOT)
ETRACS UBS Bloomberg Constant Maturity Commodity Indx CMCI Total Return ETN Se B (UCIB)
FT Vest US Equity Uncapped Accelerator ETF – October (UXOC)
FT Vest US Equity Enhance & Moderate Buffer ETF – April (XAPR)
Direxion Daily NFLX Bear 1X Shares (NFXS)
ProShares UltraShort Real Estate (SRS)

Opportunities in “in-between markets”

Tue, 10 Jun 2025 18:23:48 GMT

By William Hubbard

Bull runs can breed complacency. Bear markets can breed despair. Yet, the spaces in between—when prices drift, headlines whipsaw sentiment, and markets grope for direction—often set the stage for the next big move. It’s also the environment we expect nontraditional management styles like managed futures and commodity trading advisors (CTAs) to perform well.

A quick review of CTAs

CTAs are systematic trading strategies that originated in commodity markets to help farmers hedge price risks. Today, they use quantitative methods to trade across global markets, including equities, bonds, currencies, and commodities.

What makes CTAs unique is their flexibility to profit in both rising and falling markets. This adaptability makes them valuable for portfolio diversification, as they have historically traded independently of traditional stock and bond markets.

For more on how CTAs work and their role in navigating uncertainty, check out my recent articles: “Will investors make 2025 the year of the CTA?” and “From sticky notes to CTAs: Finding opportunity in the unexpected.”

Plenty of noise—no clear signal

If you’ve followed the headlines (and our recent Weekly Update articles), you’ll see that CTAs look down and out. Year to date, the SocGen CTA Index (a key benchmark for CTA performance) is down about 8%, and many trend-following strategies have taken the brunt of every dip while missing each rebound. One month, they’re long equities, and the market slips; the next month, they abandon the asset class right before a snap rally back to all-time highs. It’s frustrating for an investment style that sells itself as persistent.

Here’s the thing: CTA performance has been disappointing, but they’re not totally failing. They’re just not getting strong signals. Those signals have been drowned out by a relentless wave of short-term noise: tariff tweets, billionaire skirmishes, central-bank sound bites, and commodity rumors. The models aren’t broken—the market just hasn’t picked a lane.

History says frustration can precede payoff

This pattern isn’t new. And CTAs often have their best returns following these frustrating periods.

For example, CTAs broadly returned nothing in 2013, then gained nearly 16% in 2014. They slogged through the mid-2010s before delivering during the pandemic in 2020, followed by their best year in more than a decade when rates jumped and stocks and bonds dropped in 2022.

The common thread is transition. During these “in-between markets” where traditional strategies struggle, flexible, rules-based systems can tactically position based on the signals within the noise.

Building an edge in real time

These transition periods are when CTAs and other quantitative systems quietly build their edge by establishing a baseline of new information.

CTAs and other trend-following strategies don’t rely on delayed or sometimes engineered data, like corporate earnings or valuation assumptions. They only require movement and direction—up or down. Whether the driver is a bond-market meltdown, a currency dislocation, or geopolitical stress, CTAs and trend followers simply wait for conviction and move when it appears.

Tailwinds for CTAs

Two structural tailwinds favor CTAs today:

Positive collateral yield: With interest rates higher, collateral posted against futures now actually earns a yield, which is a sharp contrast to the zero-rate world of the last decade.
Increased access: Access to these types of investments has also improved a lot since the global financial crisis. What once required hedge-fund minimums is now available in daily-liquid mutual funds and ETFs, widening the pool of people who can use CTAs for diversification. (To see how FPI incorporates specialized mutual funds offering exposure to alternative asset classes into accessible investment solutions, read Jerry Wagner’s piece: “FPI brings Eckhardt’s elite trading strategies to your portfolio.”)

Act before the next storm

The real question isn’t if the next crisis will come—it’s when. Do you add diversifiers only after markets crack, or do you position ahead of time, accepting some short-term disappointment for long-term protection?

In my view, this restless “in-between” period rewards process, patience, and preparation. CTAs haven’t been 2025’s star, but they are designed to lead when little else works. For now, they’re simply collecting data for their next run.

Think about whether you want to be on the train before it leaves the station—or sprinting to catch the last car.

Market Update 6/9/25

Tue, 10 Jun 2025 18:13:10 GMT

By Daniel Poppe

Market snapshot

• Stocks: Stocks were higher last week.

• Bonds: The 10-year Treasury yield rose last week.

• Gold: Spot gold rose, closing the week up 0.64%.

• Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold but with a substantial risk of a downturn for gold. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Falling, which favors gold over bonds and then stocks.

***

Index summary

The major U.S. stock market indexes were up last week. The Dow Jones Industrial Average returned 1.23%, the S&P 500 returned 1.54%, the NASDAQ Composite returned 2.2%, and the Russell 2000 returned 3.23%. The 10-year Treasury bond yield rose from 4.41% to 4.51%. Spot gold closed the week up 0.64%.

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The SPDR S&P 500 ETF (SPY), which tracks the performance of the S&P 500, finished the week above both its 50-day and 200-day moving averages.

Stocks have continued to bounce off their early April lows. The S&P 500 finished the week above 6,000 and near the all-time high it set in February. Investors remain optimistic that new AI technologies will enhance productivity and boost earnings growth. However, there is also widespread skepticism that tariff levels will settle closer to the announced “Liberation Day” levels than where they were before.

The Atlanta Fed’s GDPNow estimate for Q2 2025 is currently sitting just under 4%—a massive turnaround from the negative growth seen in the first quarter. Positive GDP growth could ease recession fears. (A recession is often defined as two consecutive quarters of negative GDP growth.)

Stocks could still see difficulties during the rest of the year if tariffs end up at higher-than-expected levels, resulting in additional supply-chain disruptions. Continued uncertainty and rising long-term borrowing costs could also prevent companies from investing as much into the economy.

Bonds

The iShares 7-10 Year Treasury Bond ETF (IEF), which tracks intermediate-term Treasury bonds, finished last week below its 50-day moving average but above the 200-day moving average.

The bond market continues to show weakness due to concerns over the size and sustainability of U.S. federal debt and the budget deficit. The spending bill, which is now before the Senate after narrowly passing the House, is adding to these concerns. Yields have risen to entice investors to buy the new government debt, which is becoming riskier.

The Federal Reserve is meeting next week to determine if the federal funds target rate range should be adjusted. The market is pricing in a near certainty that the Fed will leave the rate unchanged.

Gold:

The SPDR Gold Shares ETF (GLD), which tracks the price of gold, finished the week above both its 50-day and 200-day moving averages.

Flexible Plan Investments (FPI) is the subadviser to the only U.S. gold mutual fund, The Gold Bullion Strategy Fund (QGLDX), designed at its introduction 11 years ago to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

Flexible Plan Investments (FPI) is the subadviser to the only U.S. gold mutual fund, The Gold Bullion Strategy Fund (QGLDX), designed at its introduction 11 years ago to track the daily price changes in the precious metal.

Indicators

The QFC S&P Pattern Recognition strategy’s primary signal started last week with a 140% net long exposure to the S&P 500. Exposure changed to 130% net long on Monday, 110% net long on Tuesday, 70% net long on Wednesday, 60% net long on Thursday, and 140% net long on Friday.

Our QFC Political Seasonality Index strategy started the week in an aggressive stance, adopting a more defensive position on Friday. (Our QFC Political Seasonality Index is available—with all of the daily signals—post-login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

The Volatility Adjusted NASDAQ strategy started the week with a 40% net long exposure to the NASDAQ 100, increasing to 60% net long on Friday.

The Systematic Advantage strategy began the week with a 120% net long exposure to the S&P 500, decreasing to 90% net long on Monday.

Our QFC Self-adjusting Trend Following Strategy’s primary signal was 200% net long the NASDAQ 100 throughout the week.

The Volatility Adjusted NASDAQ, Systematic Advantage, QFC Self-adjusting Trend Following, and the QFC S&P Pattern Recognition strategies can all employ leverage, so investment positions may exceed 100%.

FPI’s Growth and Inflation measure is one of our Market Regime Indicators shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 60% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Gold tends to outpace both stocks and bonds on an annualized return basis in a Normal environment but carries a substantial risk of a downturn in this stage.

Our S&P volatility regime is registering a High and Falling reading, which favors gold over bonds and then stocks from an annualized return standpoint. The combination has occurred 13% of the time since 2003. It is a stage of strong returns for gold.

Quantified Funds 6/9/25

Mon, 09 Jun 2025 18:36:08 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 gained 1.54%, the NASDAQ Composite rose 2.20%, and the Dow Jones Industrial Average added 1.23%. Eight of the 11 sectors were up last week; Communication Services, which posted the best return, gained 3.19%. Eight of the 13 Quantified Funds were up last week: The Quantified STF Fund (QSTFX) increased by 4.35%; the Quantified Market Leaders Fund (QMLFX) was up 2.45%; the Quantified Tactical Sectors Fund (QTSSX) gained 1.94%; the Quantified Pattern Recognition Fund (QSPMX) rose 1.69%; the Quantified Rising Dividend Tactical Fund (QRDTX) added 1.45%; the Quantified Global Fund (QGBLX) gained 1.22%; the Quantified Alternative Investment Fund (QALTX) increased by 0.76%; the Quantified Government Income Tactical Fund (QGITX) rose 0.15%; the Quantified Managed Income Fund (QBDSX), Quantified Tactical Fixed Income Fund (QFITX), and Quantified Evolution Plus Fund (QEVOX) returned 0%; the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) fell 0.23%, and the Quantified Common Ground Fund (QCGDX) lost 1.10%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Growth (15.60%), Large-Cap Growth (7.80%), International Markets (31.20%), and Emerging Markets (23.40%). Total sector ETF weightings were at 78%, holding exposures to Technology, Communication Services, Consumer Discretionary, and Financial Services.

The cash level within the Quantified Alternative Investment Fund decreased by 1.19% last week (16.26%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the Invesco KBW Property & Casualty ETF (KBWP, 1.03%) increased by 1.03%, while allocation to the Direxion Auspice Broad Commodity Strategy ETF (COM, 1.63%) decreased by 1.63%. Last week, the funds were down 0.11% and up 0.57%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 2% net long exposure. On Friday, the position shifted to a 3% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund held a 10% net short exposure throughout the week.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) held a 200% net long exposure throughout the week. The Quantified STF Fund (QSTFX) increased by 4.35% for the week, compared to a gain of 2% for the NASDAQ 100 Index (NDX) and a gain of 1.98% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 7-10 Year Treasury Bond ETF (IEF, 15.20%), the Alerian MLP ETF (AMLP, 6.80%), the Vanguard Intermediate-Term Bond ETF (BIV, 6.80%), the SPDR Bloomberg Convertible Securities ETF (CWB, 6.80%), the iShares Floating Rate Bond ETF (FLOT, 6.80%), and the Vanguard Short-Term Corporate Bond ETF (VCSH, 6.80%). Last week, the securities were down 0.79%, up 2.05%, down 0.62%, up 1.90%, up 0.14%, and down 0.26%, respectively. The cash allocation was at 30.80%.

The 10-year U.S. Treasury closed the week up 2.38%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund held a 15% net short exposure throughout the week. The S&P 500 E-mini futures held a 5% net short exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 140% net long exposure. On Monday, the position shifted to a 130% net long exposure. On Tuesday, the position reallocated to a 110% net long exposure. On Wednesday, the position changed to a 70% net long exposure. On Thursday, the position reallocated to a 60% net long exposure. On Friday, the position shifted to a 140% net long exposure.

The Quantified Tactical Fixed Income Fund (QFITX) started the week with a 0% net long exposure to Treasurys and a 100% net short exposure to high-yield bonds. On Monday, the position switched to a 0% net long exposure to Treasurys and a 7.40% net long exposure to high-yield bonds. On Tuesday, the position reallocated to a 0% net long exposure to Treasurys and a 200% net long exposure to high-yield bonds. On Thursday, the position reallocated to a 0% net long exposure to Treasurys and a 41% net long exposure to high-yield bonds.

The Quantified Government Income Tactical Fund (QGITX) held a -12.10% net short exposure to Treasurys throughout the week.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 65% in intermediate-term Treasurys, 15% in cash, 8% in gold, 8% in commodities, and 4% in real estate.

The Quantified Common Ground Fund's (QCGDX) largest allocations were the iShares 7-10 Year Treasury Bond ETF (IEF, 25.84%) and ALLETE Inc. (ALE, 6.98%). Last week, the securities were down 0.79% and up 0.34%, respectively. The cash allocation was at 2.99%.

The Quantified Global Fund's (QGBLX) largest allocations were Shell PLC (SHEL, 7.34%) and Eni SpA (E, 7.03%). Last week, the securities were up 2.72% and 3.04%, respectively. The cash allocation was at 11.76%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Technology Select Sector SPDR Fund (XLK, 39%), the Consumer Discretionary Select Sector SPDR Fund (XLY, 39%), the Financial Select Sector SPDR Fund (XLF, 39%), and the Communication Services Select Sector SPDR Fund (XLC, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Fund (Inception)

Symbol

Qtr Ending (3/31/25)

Year-To-Date

Ending

(3/31/25)

1 Year Ending (3/31/25)

3 Years Ending (3/31/25)

5 Years Ending (3/31/25)

10 Years Ending (3/31/25)

Since * Inception

Ending

(3/31/25)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

18.23%

37.29%

14.07%

11.28%

7.38%

5.60%

1.39%

Quantified Managed Income Fund (8/9/13)

QBDSX

2.41%

2.08%

0.48%

0.17%

0.49%

0.60%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(10.74%)

(10.97%)

(0.32%)

9.06%

6.22%

6.55%

1.48%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.00%

(3.29%)

(0.34%)

5.76%

1.81%

2.45%

2.70%

Quantified STF Fund

(11/13/15)

QSTFX

(25.60%)

(15.69%)

3.66%

14.51%

N/A

12.26%

1.69%

Quantified Common Ground Fund

(12/27/19)

QCGDX

(2.00%)

1.45%

3.03%

12.94%

N/A

9.92%

1.72%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

15.13%

19.75%

3.97%

6.32%

N/A

2.03%

1.74%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(2.66%)

(0.52%)

7.13%

10.86%

N/A

8.72%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(0.14%)

(2.09%)

(9.29%)

(7.32%)

N/A

(4.56%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(11.48%)

(8.80%)

0.35%

N/A

(8.58%)

1.65%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(0.74%)

4.88%

(2.24%)

N/A

(0.48%)

1.80%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

2.66%

2.97%

(9.01%)

N/A

(6.25%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

2.62%

9.16%

N/A

10.11%

1.88%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.25%)

N/A

(4.21%)

1.65%

* Performance for periods of greater than one year are annualized.

As of the most recent prospectus, the expense ratios for the Gold Bullion Strategy Fund are as follows: Investors’ Class (No Load), 1.40%; Class A, 1.40%; Class C, 2.00%. The maximum sales charge imposed on Class A share purchases (as percentage of offering price) is 5.75%. An additional 2% redemption fee applies to all share classes, including Investors’ Class, when shares are redeemed within 7 days of purchase.

The principal risks of investing in The Gold Bullion Strategy Fund are Risks of the Sub-advisor’s Investment Strategy, Risks of Aggressive Investment Techniques, High Portfolio Turnover, Risk of Investing in Derivatives, Risks of Investing in ETFs, Risks of Investing in Other Investment Companies, Leverage Risk, Taxation Risk, Concentration Risk, Gold Risk, Wholly-owned Corporation Risk, Risk of Non-Diversification and interest rate risk. “Gold Risk” includes volatility, price fluctuations over short periods, risks associated with global monetary, economic, social and political conditions and developments, currency devaluation and revaluation and restrictions, trading and transactional restrictions.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Gold Bullion Strategy Fund (QGLDX) 6/9/25

Mon, 09 Jun 2025 18:27:55 GMT

Last week, the gold spot price gained 0.64% and the U.S. Dollar Index lost 0.14%. The Gold Bullion Strategy Fund (QGLDX) was up 0.52% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., rose 0.94% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's (6/6) close had an average weekly return of about 0.09%.

Fund (Inception)

Symbol

Qtr Ending (3/31/25)

Year-To-Date

Ending

(3/31/25)

1 Year Ending (3/31/25)

3 Years Ending (3/31/25)

5 Years Ending (3/31/25)

10 Years Ending (3/31/25)

Since * Inception

Ending

(3/31/25)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

18.23%

37.29%

14.07%

11.28%

7.38%

5.60%

1.39%

Quantified Managed Income Fund (8/9/13)

QBDSX

2.41%

2.08%

0.48%

0.17%

0.49%

0.60%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(10.74%)

(10.97%)

(0.32%)

9.06%

6.22%

6.55%

1.48%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.00%

(3.29%)

(0.34%)

5.76%

1.81%

2.45%

2.70%

Quantified STF Fund

(11/13/15)

QSTFX

(25.60%)

(15.69%)

3.66%

14.51%

N/A

12.26%

1.69%

Quantified Common Ground Fund

(12/27/19)

QCGDX

(2.00%)

1.45%

3.03%

12.94%

N/A

9.92%

1.72%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

15.13%

19.75%

3.97%

6.32%

N/A

2.03%

1.74%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(2.66%)

(0.52%)

7.13%

10.86%

N/A

8.72%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(0.14%)

(2.09%)

(9.29%)

(7.32%)

N/A

(4.56%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(11.48%)

(8.80%)

0.35%

N/A

(8.58%)

1.65%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(0.74%)

4.88%

(2.24%)

N/A

(0.48%)

1.80%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

2.66%

2.97%

(9.01%)

N/A

(6.25%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

2.62%

9.16%

N/A

10.11%

1.88%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.25%)

N/A

(4.21%)

1.65%

* Performance for periods of greater than one year are annualized.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

What is risk really all about?

Tue, 03 Jun 2025 15:35:39 GMT

By Jerry Wagner

Investors are so different. They pursue different goals. They react differently to changes in the financial marketplace. Some are aggressive. Some are conservative. Sometimes they are very concerned with risk, and other times they seem able to ignore it.

This suggests that some investors don’t really understand what risk is all about.

After almost 50 years of researching the financial markets, operating one of the early hedge funds, and then running a multibillion-dollar turnkey asset management program for more than 40 years, I’ve formulated some thoughts on risk that I’d like to share.

First, you have to understand why risk exists. The simple answer? Because we can’t know the future or go back for a do-over.

If we knew the future, there would be no risk. Our foreknowledge would prevent us from encountering any bad events.

Similarly, if we could retrace our steps after encountering misfortune and avoid adversity, we could live life risk-free.

As some before me have noted, if we could live life looking in the rearview mirror instead of through life’s windshield, we could always achieve happiness.

But life does not accommodate us. Try as we might, we find that we cannot study, work, or research our way to a place without risk. Having friends in high places or trying to avoid people in low places won’t guarantee an existence without peril. Nor will simply ignoring the threat of danger allow us to sidestep it. As I have written before, risk is always with us.

I could stop here and warn you that all investments have risks, and if you think you can have the returns of the stock market with no downside, please leave. Take your assets and put them into money-market certificates. Then pray that neither inflation nor a plunging dollar makes your funds worthless.

Hopefully, however, I have more to say (not that I disagree with the foregoing).

Recognizing market risk

Most people seem to believe that they can recognize risk. And there are risks that you can see a mile away. You know the danger of crossing a street or stopping on a railroad crossing.

The advice of one of the owners of a market-timing firm we acquired still rings in my ears. At every seminar on timing, he would ask, “If you’re standing on the railroad tracks and a train is approaching, what should you do?” Of course, the answer is, “Get off the tracks!”

Yet, most truly scary risk, in and out of the financial markets, is not dealt with so simply.

Our variable sense of investment risk

Why does risk seem more important to us at certain times and less so at others?

One explanation is status quo bias. Our brains are wired to assume that current conditions will continue. If markets have recently experienced steep declines, investors may be inclined to see stocks as too risky—regardless of their future return potential. That perception can persist well after the downturn has passed.

In contrast, after a long period of rising prices, many investors may become more focused on returns than risk. In such environments, concerns about volatility often take a back seat to the pursuit of gains.

Another bias that works against a realistic view of risk is the familiarity bias. We encounter this bias every day. We buy popular brands. Why? Because they are familiar, they are talked about, and they are trusted. So, when stock market commentators say it’s a bull or a bear market, it becomes acceptable, and we act accordingly, giving little thought to the less popular alternative.

Silent risk

Nassim Taleb, author of “The Black Swan,” has written of “silent risk.”

Risk is often silent. By its nature, the existence of risk is not realized until it is too late. Taleb compares it to sending troops out to the battlefield after the battle is lost.

And just as we are late to recognize risk, it is impossible to measure the extent of the risk until after it has occurred. Like those caught in the path of a hurricane, we are simply left to pick up the pieces and deal with the resulting damage.

Financial risk is not predictable, but ...

The bad news is that risk can’t be predicted with certainty. The good news is that exposure to risk can be anticipated—and managed.

History shows that stock market downturns tend to follow the business cycle and occur with some regularity. What’s uncertain is the timing. A bear market could follow just a few years after the last one—or take more than a decade to arrive.

Knowing that risk is a constant doesn’t mean it can be avoided entirely. But it can be planned for. By building portfolios that acknowledge the reality of risk—rather than ignoring it—investors may be able to reduce the potential impact of the next market decline.

That’s why it’s essential to work with a financial adviser to regularly review your portfolio and ensure it’s aligned with your goals and risk tolerance. At Flexible Plan Investments, our dynamically risk-managed strategies are designed to adapt to changing market conditions—helping investors stay prepared no matter what’s ahead.

Market Update 6/2/25

Tue, 03 Jun 2025 15:34:30 GMT

By Will Hubbard

Market snapshot

• Stocks: Markets rallied after Memorial Day, boosted by a tariff delay and strong May performance, despite signs of softening in key economic data.

• Bonds: Yields fell as investor concerns over tariffs and rates abated.

• Gold: The metal declined 2.03% last week as it continued to consolidate after a 42% gain over the past year.

• Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold but with a substantial risk of a downturn for gold. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Falling, which favors gold over bonds and then stocks.

***

Index summary

Equity markets rallied broadly last week. All sectors posted gains except for Energy. The S&P 500 rose 1.90%, the NASDAQ Composite gained 2.02%, the Dow Jones Industrial Average climbed 1.67%, and the Russell 2000 added 1.32%. The 10-year Treasury bond yield dipped from 4.50% to 4.40%. Gold fell 2.03%.

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The shortened trading week marked a positive turn for U.S. financial markets. Investors processed a wave of new information—from economic reports and earnings results to rapidly changing tariff policies. The rally began Tuesday, following Memorial Day, with all major indexes rising more than 1%. Much of the optimism was driven by President Trump’s announcement that the planned 50% tariffs on European imports would be delayed until July 9.

Contrary to the adage, “Sell in May and go away,” staying invested paid off last month. The S&P 500 added about 6% in May, and the tech-heavy NASDAQ gained more than 9%. According to Bespoke Investment Group, May 2025 was the NASDAQ’s second-best May on record. Historically, when the Index gains more than 5% in May, the median return for the following 12 months is 15.06%.

Several key economic indicators were released last week. The second estimate for Q1 GDP confirmed an annualized contraction of 0.3%, with real GDP revised down to -0.2%. Consumer spending rose 1.2%, one of the slowest growth rates since COVID-related stimulus spending ended a few years ago. Durable goods orders fell 6.3% in April, which was better than the expected 7.8% decline. Unemployment claims dipped to 240,000, compared to the forecast of 229,000. Personal income rose 0.8% in April, exceeding both the previous reading of 0.7% and the anticipated 0.3%. Pending home sales dropped 6.3%, worse than the expected 0.9%.

The key takeaway for investors: Stay flexible and willing to adapt. Historically, strong monthly gains tend to lead to more strength in the following month and year. But softening in GDP, durable goods orders, and pending home sales suggest growing cracks in the economic data. Paying attention to both market signals and changes in sentiment and behavior, as reflected in more fundamental economic data, remains essential.

Bonds

Treasury yields fell across all maturities last week, driven by the revised GDP data and growing speculation about Federal Reserve rate cuts later in the year. The benchmark 10-year Treasury declined from 4.51% the previous Friday to 4.40%. The 30-year yield also dropped, falling from 5.04% to 4.92%.

High-yield bonds performed well, with credit spreads contracting across categories. The average high-yield rate dropped 16 basis points to 7.71%, indicating improving investor confidence in the economy.

The broader message from the bond market is mixed. While the Fed is signaling future rate cuts, yields remain elevated—reflecting ongoing investor demand for compensation amid uncertainty. Still, these higher yields haven’t shaken investor confidence. High-yield rates remain stable, and the yield curve continues to slope upward. If markets were pricing in a deeper recession, we would likely see shorter-term yields rise, a renewed yield-curve inversion, and widening credit spreads as investors moved toward safer assets like Treasurys.

Gold

Gold experienced a volatile week, falling 2.03% to $3,289.25 per ounce. Despite the pullback, the metal is up $977 from May 2024, a 42% increase. Gold’s strong rally in 2025 continues, but the recent pause suggests the metal is creating a new base. This process can bring added volatility as buyers adjust to higher price levels.

The following chart shows gold’s movement over the past month. While the metal is up significantly year over year, the recent fluctuations have been frustrating for investors who view gold as a long-term diversifier and store of value. Equities did well, which offset gold’s recent sluggishness.

indicators:

The QFC S&P Pattern Recognition strategy started last week 180% long and reduced exposure to 140% long on Friday’s close. Our QFC Political Seasonality Index remained in its risk-on posture. (Our QFC Political Seasonality Index is available—with all of the daily signals—post-login in our Weekly Performance Report section under the Quantified Fund Credit category.)

Our intermediate-term tactical strategies have been varied in their degree of defensive positioning. The key advantages these strategies offer to investors are their ability to adapt to changing market environments, participate during uptrends, and adjust their exposure to a more defensive posture during downtrends.

The Volatility Adjusted NASDAQ (VAN) strategy began the week in cash. On Wednesday, it moved to 40% long and remained there for the week. Systematic Advantage (SA) strategy was 120% long all week. Our QFC Self-adjusting Trend Following (QSTF) strategy remained 200% long. VAN, SA, and QSTF can use leverage, which means the investment positions may exceed 100%.

Our Classic model was long risk-on positioning all week. Most of our Classic accounts follow a signal that will allow the strategy to change exposure in as little as a week. A few accounts are on more restrictive platforms and can take up to one month to generate a new signal.

FPI’s Growth and Inflation measure is one of our Market Regime Indicators. It shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 60% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Gold tends to outpace both stocks and bonds on an annualized return basis in a Normal environment but carries a substantial risk of a downturn in this stage.

Quantified Funds 6/2/25

Mon, 02 Jun 2025 18:08:20 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 increased by 1.90%, the NASDAQ Composite gained 2.02%, and the Dow Jones Industrial Average rose 1.67%. Ten of the 11 sectors were up last week; Real Estate, which posted the best return, gained 2.74%. Nine of the 13 Quantified Funds were up last week: The Quantified STF Fund (QSTFX) was up 4.23%, the Quantified Pattern Recognition Fund (QSPMX) rose 3.22%, the Quantified Tactical Sectors Fund (QTSSX) gained 2.48%, the Quantified Rising Dividend Tactical Fund (QRDTX) rose 1.81%, the Quantified Market Leaders Fund (QMLFX) was up 1.56%, the Quantified Common Ground Fund (QCGDX) increased by 1.26%, the Quantified Government Income Tactical Fund (QGITX) gained 1.18%, the Quantified Managed Income Fund (QBDSX) increased by 0.62%, the Quantified Alternative Investment Fund (QALTX) gained 0.22%, the Quantified Evolution Plus Fund (QEVOX) returned 0%, the Quantified Global Fund (QGBLX) fell 0.40%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) lost 0.56%, and the Quantified Tactical Fixed Income Fund (QFITX) was down 0.59%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Growth (15.60%), Large-Cap Growth (7.80%), International Markets (31.20%), and Emerging Markets (23.40%). Total sector ETF weightings were at 78%, holding exposures to Technology, Communication Services, Consumer Discretionary, and Financial Services.

The cash level within the Quantified Alternative Investment Fund decreased by 1.49% last week (17.46%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the iShares Short Treasury Bond ETF (SHV, 2.55%) increased by 1.25%, while allocation to the iShares Short Duration Bond Active ETF (NEAR, 2%) decreased by 1.30%. Last week, the funds were up 0.05% and 0.24%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 0% net long exposure. On Wednesday, the position reallocated to a 2% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 12% net long exposure. On Friday, the position reallocated to a 10% net short exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) held a 200% net long exposure throughout the week. The Quantified STF Fund (QSTFX) increased by 4.23% for the week, compared to a gain of 2.04% for the NASDAQ 100 Index (NDX) and a gain of 2.02% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 7-10 Year Treasury Bond ETF (IEF, 16%), the Alerian MLP ETF (AMLP, 6.80%), the Vanguard Intermediate-Term Bond ETF (BIV, 6.80%), the Vanguard Short-Term Corporate Bond ETF (VCSH, 6.80%), and the iShares Floating Rate Bond ETF (FLOT, 6.80%). Last week, the securities were up 0.85%, down 1.16%, up 0.87%, up 0.39%, and up 0.10%, respectively. The cash allocation was at 30.40%.

The 10-year U.S. Treasury closed the week down 2.44%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with an 18% net long exposure. On Friday, the position moved to a 15% net short exposure. The S&P 500 E-mini futures held a 5% net short exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 180% net long exposure. On Wednesday, the position reallocated to a 140% net long exposure. On Thursday, the position moved to a 180% net long exposure. On Friday, the position moved to a 140% net long exposure.

The Quantified Tactical Fixed Income Fund (QFITX) started the week with a 0% net long exposure to Treasurys and a 100% net short exposure to high-yield bonds. On Tuesday, the position moved to a 0% net long exposure to Treasurys and a 44% net long exposure to high-yield bonds. On Friday, the position changed to a 0% net long exposure to Treasurys and a 100% net short exposure to high-yield bonds.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 59.80% net long exposure to Treasurys. On Friday, the position switched to a 12.10% net short exposure to Treasurys.

The Quantified Common Ground Fund's (QCGDX) largest allocations were the iShares 7-10 Year Treasury Bond ETF (IEF, 23.39%) and Kimberly-Clark Corp. (KMB, 4.85%). Last week, the securities were up 0.85% and 1.56%, respectively. The cash allocation was at 4.94%.

The Quantified Global Fund's (QGBLX) largest allocations were Unilever PLC (UL, 9.34%) and British American Tobacco PLC (BTI, 6.37%). Last week, the securities were up 0.09% and down 0.04%, respectively. The cash allocation was at 11.76%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: Technology Select Sector SPDR Fund (XLK, 39%), Consumer Discretionary Select Sector SPDR Fund (XLY, 39%), Financial Select Sector SPDR Fund (XLF, 39%), and Communication Services Select Sector SPDR Fund (XLC, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/25)

Year-To-Date

Ending

(3/31/25)

1 Year Ending (3/31/25)

3 Years Ending (3/31/25)

5 Years Ending (3/31/25)

10 Years Ending (3/31/25)

Since * Inception

Ending

(3/31/25)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

18.23%

37.29%

14.07%

11.28%

7.38%

5.60%

1.39%

Quantified Managed Income Fund (8/9/13)

QBDSX

2.41%

2.08%

0.48%

0.17%

0.49%

0.60%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(10.74%)

(10.97%)

(0.32%)

9.06%

6.22%

6.55%

1.48%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.00%

(3.29%)

(0.34%)

5.76%

1.81%

2.45%

2.70%

Quantified STF Fund

(11/13/15)

QSTFX

(25.60%)

(15.69%)

3.66%

14.51%

N/A

12.26%

1.69%

Quantified Common Ground Fund

(12/27/19)

QCGDX

(2.00%)

1.45%

3.03%

12.94%

N/A

9.92%

1.72%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

15.13%

19.75%

3.97%

6.32%

N/A

2.03%

1.74%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(2.66%)

(0.52%)

7.13%

10.86%

N/A

8.72%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(0.14%)

(2.09%)

(9.29%)

(7.32%)

N/A

(4.56%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(11.48%)

(8.80%)

0.35%

N/A

(8.58%)

1.65%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(0.74%)

4.88%

(2.24%)

N/A

(0.48%)

1.80%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

2.66%

2.97%

(9.01%)

N/A

(6.25%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

2.62%

9.16%

N/A

10.11%

1.88%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.25%)

N/A

(4.21%)

1.65%

* Performance for periods of greater than one year are annualized.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Gold Bullion Strategy Fund (QGLDX) 6/2/25

Mon, 02 Jun 2025 18:08:03 GMT

Last week, the gold spot price lost 2.03% and the U.S. Dollar Index gained 0.22%. The Gold Bullion Strategy Fund (QGLDX) fell 2.02% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., lost 2.33% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's (5/30) close had an average weekly return of about 0.07%.

Total Return

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

Fund (Inception)

Symbol

Qtr Ending (3/31/25)

Year-To-Date

Ending

(3/31/25)

1 Year Ending (3/31/25)

3 Years Ending (3/31/25)

5 Years Ending (3/31/25)

10 Years Ending (3/31/25)

Since * Inception

Ending

(3/31/25)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

18.23%

37.29%

14.07%

11.28%

7.38%

5.60%

1.39%

Quantified Managed Income Fund (8/9/13)

QBDSX

2.41%

2.08%

0.48%

0.17%

0.49%

0.60%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(10.74%)

(10.97%)

(0.32%)

9.06%

6.22%

6.55%

1.48%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.00%

(3.29%)

(0.34%)

5.76%

1.81%

2.45%

2.70%

Quantified STF Fund

(11/13/15)

QSTFX

(25.60%)

(15.69%)

3.66%

14.51%

N/A

12.26%

1.69%

Quantified Common Ground Fund

(12/27/19)

QCGDX

(2.00%)

1.45%

3.03%

12.94%

N/A

9.92%

1.72%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

15.13%

19.75%

3.97%

6.32%

N/A

2.03%

1.74%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(2.66%)

(0.52%)

7.13%

10.86%

N/A

8.72%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(0.14%)

(2.09%)

(9.29%)

(7.32%)

N/A

(4.56%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(11.48%)

(8.80%)

0.35%

N/A

(8.58%)

1.65%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(0.74%)

4.88%

(2.24%)

N/A

(0.48%)

1.80%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

2.66%

2.97%

(9.01%)

N/A

(6.25%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

2.62%

9.16%

N/A

10.11%

1.88%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.25%)

N/A

(4.21%)

1.65%

* Performance for periods of greater than one year are annualized.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

In investing, as in life, it’s all relative

Tue, 08 Oct 2024 18:52:35 GMT

By Jerry Wagner

The concept of relativity, where what one experiences depends on their frame of reference, can help investors understand what’s happening in the financial markets.

Einstein’s special theory of relativity posits that time slows down depending on your perspective, like time moving more slowly for someone on a moving train compared to a loved one waiting at the station. In investing, the answer to “How is the market doing?” often depends on the time period referenced.

A short-term view of the S&P 500 can look this bleak:

While a longer-term view can convey a different message:

In building strategies, we try to take this into account by measuring what the market is doing over multiple time periods. We do this to obtain a different perspective by changing our frame of reference. In the long run, we believe that this makes a strategy more robust in dealing with the future.

Investing is about more than asset classes; it’s about time

Another method is to create strategies designed to perform in different time periods. One strategy may be created to capture short-term moves in stock prices, while another may focus on an intermediate-term period.

In creating a portfolio, it is just as important to reflect multiple frames of reference. We can do this by using multiple strategies that each focus on different time periods.

Of course, this is what we do when we use different assets to diversify a portfolio. Diversifying by strategies can accomplish the same thing but with the bonus of adding dynamic risk management to the picture.

When you look at the markets over a longer time, it is also clear that a longer frame of reference reinforces the view that different assets should be included within a core portfolio. In creating such a portfolio, it is important to have assets that have (1) positive returns over the long run and (2) a life of their own. In other words, they don’t always move in sync with one another.

Our All-Terrain and Multi-Strategy Core strategy offerings were formulated around these concepts. Performance is monitored and evaluated over multiple time periods within each. And each uses three asset classes (stocks, bonds, and gold) in the manner necessary to meet our two prerequisites for a core portfolio.

Of course, this is all consistent with a portfolio that is constructed using modern portfolio theory. The difference is that each of these core portfolios also includes dynamic risk-management tools designed to help defend against the ravages of super bear markets (markets that lose 20% or more).

Diversification certainly helps when the market goes through a correction, a sideways market, or a baby bear market (markets that decline less than 20%). But to avoid the worst of a major bear market decline, dynamic risk-management tools like hedging and moving to the safety of defensive holdings are essential.

A different way of evaluating your portfolio’s success

Evaluating the success of the resulting portfolio requires an understanding of relativity as well. Strategies should be evaluated not alone but rather relative to the performance of the other strategies in the portfolio.

When big events happen in the market, if all of the strategies in your portfolio move in the same direction, your portfolio is not diversified. You may not think this is a problem when your strategies are all moving up together; however, if this is what is happening in your portfolio, I can almost assure you, you will also see them all fall together at some point in the future.

Similarly, portfolios should be evaluated from different points of reference. Make sure to evaluate the portfolio as a whole, not just on a strategy-by-strategy basis. And make it truly relative by asking, “How is it performing relative to the risk being taken?”

Performance shouldn’t be judged in a vacuum or compared to an equity benchmark that is not relevant to the risk you are willing to take. Rather, it should be gauged by comparing it to like investments that are unmanaged (a 60/40 fund portfolio, for instance, if you are in a balanced suitability profile) and also to a customized benchmark based on your initial goals, like our OnTarget Investing Monitor.

Similarly, portfolios should not be evaluated over a single fixed period. Instead of looking at the results over a single bad week or a short, choppy period, take a step back and see if the portfolio did what you expected it to do during positive periods.

If it participated reasonably (relative to like investments) during these periods and mitigated some of the losses in bad periods, it probably should not be abandoned. This is so even if all of the strategies in your portfolio did not perform equally well.

***

Investment performance, like most experiences in life, is relative. The key to successful investing is being able to answer the question “Relative to what?” Hopefully, this discussion gives us all the same necessary frame of reference to answer that question.

Market Update 10/7/24

Tue, 08 Oct 2024 18:52:14 GMT

By Will Hubbard

Market snapshot
•   Stocks: Stock returns were muted amid escalating Middle East tensions and increasing volatility as the U.S. presidential election approaches.
•   Bonds: Fixed-income yields rose markedly as demand for safe havens rose against a backdrop of geopolitical uncertainty.
•   Gold: The yellow metal continued to cool as it searched for support in its current uptrend.
•   Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold but with a substantial risk of a downturn for gold. Normal is one of the best stages for stocks, with limited downside. Volatility is Low and Falling, which favors stocks over gold and then bonds.

***

The major U.S. stock market indexes were mostly up last week. The S&P 500 increased by 0.26%, the NASDAQ Composite was up 0.12%, the Dow Jones Industrial Average gained 0.13%, and the Russell 2000 small-capitalization index fell 0.48%. The 10-year Treasury bond yield rose 22 basis points to close at 3.97%. Gold slumped 0.17% to close at $2,653.60 per ounce.

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

Last week’s economic data indicated that the U.S. economy remains relatively healthy. While manufacturing continues to decline, the services sector is expanding strongly. New unemployment claims fell from 4.2% to 4.1%, a historically low figure.

Geopolitical tensions in the Middle East escalated amid missile strikes leading up to the anniversary of the October 7 attacks on Israel. Stocks responded with muted performance.

With one month until the U.S. presidential election, it’s a good time to examine market behavior leading up to the face-off between former President Trump and Vice President Harris. Currently, polls show Harris with a slight lead at the national level, with FiveThirtyEight reporting a 2.6% advantage.

However, the electoral map presents a closer race, with 270towin.com projecting 226 likely electoral votes for the Democrats and 219 for the Republicans, leaving 93 votes in play that could swing the election in either party’s direction.

Historically, election years see increased volatility between August and November, with October showing about 35% more volatility than the other months, according to Sam Stovall of CFRA research. While day-to-day volatility may be higher than usual, average returns tend to remain stable as investors struggle to find a clear direction before Election Day. Research from Bespoke Investment Group shows that in presidential election years, the S&P 500 averages a 0.82% gain, compared to 1.89% in non-election years.

As quantitative investors, we analyze a wide range of data to make internal market assessments. Currently, our Political Seasonality Index (available post-login in our Weekly Performance Report section under the Domestic Tactical Equity category) is in a risk-off posture, but historical data suggests that, while the average return might be smaller than normal, the volatility leading up to the election offers potential for profit. We expect the Index to shift between risk-off and risk-on postures between now and the election. Stay tuned for insights on managing equity volatility during this election cycle.

Uncertainty surrounding elections typically drives market volatility. Given the polarized nature of the upcoming election, we see short-term opportunities to capitalize on this volatility leading up to the election and through the end of the year.

Bonds

The 10-year Treasury bond yield rose 22 basis points, closing at 3.97%, as investors sought safer assets amid ongoing geopolitical tensions in the Middle East. Investors also looked to capitalize on the Federal Reserve’s dovish stance, with expectations of future rate cuts.

After the most recent rate cut, the Fed’s dot plot now suggests an additional cut of 50 basis points this year, 100 basis points in 2025, and another 50 in 2026. If this forecast holds, the yield curve may remain normal, with short-term rates falling further and faster than long-term rates.

Investors chasing the highest-yielding bonds or certificates of deposit (CDs) may want to switch their strategy to distributing assets from their entire portfolio instead of just one small sleeve. Many banks are offering appealing rates on callable CDs, but with anticipated steep rate cuts, these CDs are likely to be called, leaving investors with a tough choice: accept a lower yield or take on more risk.

After a few years of real positive yields on fixed income, investors may face greater challenges in finding yield. Exploring alternative strategies to meet distribution needs can help balance the demand for stability and income.

Gold

Gold lost 0.17%, retreating slightly from its all-time high to close at $2,653.60 per ounce. While the yellow metal is cooling off, it remains near all-time highs. Bears expect further declines, with support for the uptrend sitting about 3% below the current price level.

Flexible Plan Investments is the subadviser to the only U.S. gold mutual fund, The Gold Bullion Strategy Fund (QGLDX), designed at its introduction 11 years ago to track the daily price changes in the precious metal.

The indicators

The QFC S&P Pattern Recognition strategy started last week 30% short, moved to cash on Monday, reentered the market at 40% long on Thursday, and closed the week 110% long. Our QFC Political Seasonality Index remained in its risk-off posture throughout the week. (Our QFC Political Seasonality Index is available—with all of the daily signals—post-login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

Our intermediate-term tactical strategies have been varied in their degree of defensive positioning. The key advantages these strategies offer to investors are their ability to adapt to changing market environments, participate during uptrends, and adjust exposure to more defensive posturing during downtrends.

The Volatility Adjusted NASDAQ (VAN) strategy started the week 80% long, reduced exposure to 60% on Wednesday’s close, and increased to 100% long on Friday. The Systematic Advantage (SA) strategy was 120% long all week. Our QFC Self-adjusting Trend Following (QSTF) strategy was 200% long all week. VAN, SA, and QSTF can all employ leverage—hence the investment positions may at times be more than 100%.

Flexible Plan’s Growth and Inflation measure, one of our Market Regime Indicators, shows markets are in a Normal economic environment stage (meaning a positive monthly change in the inflation rate and a positive monthly GDP reading). Historically, a Normal environment has occurred 60% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Gold tends to outpace both stocks and bonds on an annualized return basis in a Normal environment but carries a substantial risk of a downturn in this stage. From a risk-adjusted perspective, Normal is one of the best stages for stocks, with limited downside.

The S&P volatility regime is registering a Low and Falling reading, which favors stocks over gold and then bonds from an annualized return standpoint. The combination has occurred 37% of the time since 2003. It is a stage of higher returns and lower volatility for stocks relative to the other volatility regimes.

Quantified Funds 10/7/24

Mon, 07 Oct 2024 20:39:40 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 rose 0.26%, the NASDAQ Composite increased by 0.12%, and the Dow Jones Industrial Average rose 0.13%. Six of the 11 sectors were up last week; Energy, which posted the best return, gained 7.01%. Four of the 12 Quantified Funds were up last week: Both the Quantified Pattern Recognition Fund (QSPMX) and the Quantified Tactical Sectors Fund (QTSSX) rose 0.59%, the Quantified Government Income Tactical Fund (QGITX) increased by 0.28%, the Quantified Market Leaders Fund (QMLFX) was up 0.09%, the Quantified Global Fund (QGBLX) and the Quantified STF Fund (QSTFX) returned 0%, the Quantified Alternative Investment Fund (QALTX) was down 0.10%, the Quantified Common Ground Fund (QCGDX) fell 0.25%, the Quantified Tactical Fixed Income Fund (QFITX) lost 0.26%, the Quantified Evolution Plus Fund (QEVOX) fell 0.29%, the Quantified Managed Income Fund (QBDSX) was down 0.48%, and the Quantified Rising Dividend Tactical Fund (QRDTX) decreased by 0.51%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Large-Cap Growth (23.40%), Mid-Cap Value (7.80%), Small-Cap Growth (31.20%), and Small-Cap Value (15.60%). Total sector ETF weightings were at 78%, holding exposures to Financials, Technology, and S&P 500.

The cash level within the Quantified Alternative Investment Fund decreased by 0.08% last week (7.16%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the iShares U.S. Utilities ETF (IDU, 1.15%) increased by 0.57%, while allocation to the Invesco Exchange-Traded Fund Trust Invesco Dorsey Wright Utilities Momentum ETF (PUI, 2.68%) decreased by 1.23%. Last week, the funds were up 1.04% and 0.62%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 5% net long exposure. On Monday, the position moved to a 4% net long exposure. On Wednesday, the position reallocated to a 3% net long exposure. On Friday, the position moved to a 7% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 12% net long exposure. On Monday, the position shifted to a 10% net short exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) held a 200% net long exposure throughout the week. The Quantified STF Fund (QSTFX) returned 0% for the week, compared to a gain of 0.15% for the NASDAQ 100 Index (NDX) and a gain of 0.12% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 16.21%) and the iShares 20+ Year Treasury Bond ETF (TLT, 13.13%). Last week, the securities were down 0.57% and 2.75%, respectively. The cash allocation was at 5%.

The 10-year U.S. Treasury closed the week up 5.76%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with an 18% net long exposure. On Monday, the position moved to a 15% net short exposure. The S&P 500 E-mini futures held a 3.50% net short exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 30% net short exposure. On Monday, the position moved to a 0% net long exposure. On Thursday, the position changed to a 40% net long exposure. On Friday, the position changed to a 110% net long exposure.

The Quantified Tactical Fixed Income Fund (QFITX) started the week with a 6.60% net short exposure to Treasurys and a 10.80% net long exposure to high-yield bonds. On Tuesday, the position switched to a 2.60% net long exposure to Treasurys and a 13.20% net long exposure to high-yield bonds. On Friday, the position changed to a 26.40% net short exposure to Treasurys and a 30% net long exposure to high-yield bonds.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 22% net short exposure to Treasurys. On Tuesday, the position changed to a 24.20% net short exposure to Treasurys. On Friday, the position changed to a 36.30% net short exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 49% in gold, 34% in the S&P 500, 10% in real estate, and 7% in the NASDAQ 100.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Arch Capital Group Ltd. (ACGL, 5.82%) and Highwoods Properties Inc. (HIW, 4.61%). Last week, the securities were up 1.28% and down 0.06%, respectively. The cash allocation was at 2.99%.

The Quantified Global Fund's (QGBLX) largest allocations were the SPDR S&P 500 ETF Trust (SPY, 35.10%) and the Invesco QQQ Trust (QQQ, 13.16%). Last week, the securities were up 0.26% and 0.12%, respectively. The cash allocation was at 5.17%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Vanguard Financials ETF (VFH, 78%), the Technology Select Sector SPDR Fund (XLK, 39%), and the SPDR S&P 500 ETF Trust (SPY, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (9/30/24)

Year-To-Date

Ending

(9/30/24)

1 Year Ending (9/30/24)

3 Years Ending (9/30/24)

5 Years Ending (9/30/24)

10 Years Ending (9/30/24)

Since * Inception

Ending

(9/30/24)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

12.46%

25.18%

39.15%

10.87%

8.58%

5.30%

4.36%

1.40%

Quantified Managed Income Fund (8/9/13)

QBDSX

3.47%

2.83%

4.89%

0.36%

(1.70%)

0.45%

0.57%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(3.45%)

6.55%

21.22%

(1.43%)

10.94%

7.88%

7.55%

1.50%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.42%

7.56%

10.39%

2.06%

3.76%

2.25%

2.83%

2.17%

Quantified STF Fund

(11/13/15)

QSTFX

(1.91%)

24.15%

52.31%

8.15%

24.21%

N/A

16.21%

1.66%

Quantified Common Ground Fund

(12/27/19)

QCGDX

4.72%

13.78%

26.88%

10.28%

N/A

12.31%

1.80%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

8.35%

8.92%

18.01%

18.71%

(0.04%)

N/A

(0.04%)

1.73%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

5.01%

16.70%

13.37%

5.33%

9.42%

N/A

9.83%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

0.67%

(4.25%)

(9.30%)

(5.11%)

N/A

(4.66%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(2.44%)

8.47%

21.51%

(5.20%)

N/A

(7.88%)

1.71%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

11.39%

19.76%

37.15%

0.18%

N/A

0.73%

1.82%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

0.86%

(5.43%)

(9.50%)

N/A

(7.94%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

4.92%

10.45%

N/A

13.10%

1.65%

* Performance for periods of greater than one year are annualized.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Gold Bullion Strategy Fund (QGLDX) 10/7/24

Mon, 07 Oct 2024 20:38:53 GMT

Last week, the gold spot price went down 0.17% and the U.S. Dollar Index rose 2.13%. The Gold Bullion Strategy Fund (QGLDX) lost 0.04% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., fell 0.01% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's (10/4) close had an average weekly return of about 0.09%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (9/30/24)

Year-To-Date

Ending

(9/30/24)

1 Year Ending (9/30/24)

3 Years Ending (9/30/24)

5 Years Ending (9/30/24)

10 Years Ending (9/30/24)

Since * Inception

Ending

(9/30/24)

Annual Expense

Ratio

The Gold Bullion Strategy Fund (7/9/13)

QGLDX

12.46%

25.18%

39.15%

10.87%

8.58%

5.30%

4.36%

1.40%

Quantified Managed Income Fund (8/9/13)

QBDSX

3.47%

2.83%

4.89%

0.36%

(1.70%)

0.45%

0.57%

1.59%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(3.45%)

6.55%

21.22%

(1.43%)

10.94%

7.88%

7.55%

1.50%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.42%

7.56%

10.39%

2.06%

3.76%

2.25%

2.83%

2.17%

Quantified STF Fund

(11/13/15)

QSTFX

(1.91%)

24.15%

52.31%

8.15%

24.21%

N/A

16.21%

1.66%

Quantified Common Ground Fund

(12/27/19)

QCGDX

4.72%

13.78%

26.88%

10.28%

N/A

12.31%

1.80%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

8.35%

8.92%

18.01%

18.71%

(0.04%)

N/A

(0.04%)

1.73%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

5.01%

16.70%

13.37%

5.33%

9.42%

N/A

9.83%

1.75%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

0.67%

(4.25%)

(9.30%)

(5.11%)

N/A

(4.66%)

1.65%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(2.44%)

8.47%

21.51%

(5.20%)

N/A

(7.88%)

1.71%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

11.39%

19.76%

37.15%

0.18%

N/A

0.73%

1.82%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

0.86%

(5.43%)

(9.50%)

N/A

(7.94%)

1.76%

Quantified Global Fund (11/29/23)

QGBLX

4.92%

10.45%

N/A

13.10%

1.65%

* Performance for periods of greater than one year are annualized.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or The Gold Bullion Strategy Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Bullion Strategy and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

Market Update 5/28/24

Mon, 27 May 2024 11:15:00 GMT

By Daniel Poppe

Market snapshot

Stocks: Stock performance was mixed last week.
Bonds: The 10-year Treasury yield rose slightly last week.
Gold: Gold fell for the week, moving from above $2,400 an ounce to a bit above $2,300 an ounce.
Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold but with a substantial risk of a downturn for gold. Normal is one of the best stages for stocks, with limited downside. Volatility is Low and Falling, which favors stocks over gold and then bonds.

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The major U.S. stock market indexes were mixed last week. The NASDAQ Composite gained 1.42%, the S&P 500 rose 0.05%, the Russell 2000 returned -1.21%, and the Dow Jones Industrial Average returned -2.30%. The 10-year Treasury bond yield rose slightly. Spot gold closed the week down 3.37%.

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The SPDR S&P 500 ETF (SPY), which tracks the performance of the S&P 500, finished the week well above both its 50- and 200-day moving averages.

Stocks appear to be increasing due to strong first-quarter earnings and a lower inflation reading for April. Almost all companies have reported earnings now. FactSet’s Earnings Insight report from May 24 shows earnings growth for the quarter was the best it has been since the first quarter of 2022, with most companies surprising to the upside. However, valuations are above historical averages. Despite the overall economy cooling in the first quarter, companies in the S&P 500 delivered strong earnings growth.

Bonds

The iShares 7-10 Year Treasury Bond ETF (IEF), which tracks intermediate-term Treasury bonds, finished above both its 50- and 200-day moving averages. Despite this, the ETF has seen a substantial year-to-date decline in price as rates have risen.

April inflation decreased from nearly 5% in March, suggesting that the higher inflation of the first quarter may have been a speed bump on the disinflationary path we’ve been following.

However, rates have remained elevated. Rates for two- to 10-year maturities have risen by more than 50 basis points this year. The yield curve remains inverted, with the 10-year yield 107 basis points below the two-month yield. An inverted yield curve usually portends a coming recession.

Market participants now expect no rate cut until November. The Federal Reserve will analyze incoming data until then to determine if inflation is stabilizing at a more normal level.

Gold

The SPDR Gold Shares ETF (GLD), which tracks the price of gold, has pulled back a bit from its May high but remains above both its 50-day and 200-day moving averages.

Flexible Plan Investments (FPI) is the subadviser to the only U.S. gold mutual fund, The Gold Bullion Strategy Fund (QGLDX), designed at its introduction 10 years ago to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

FPI’s indicators

The QFC S&P Pattern Recognition strategy started last week with an 80% net short exposure. Exposure changed to a 90% net short exposure on Wednesday. On Thursday, exposure changed to 10% net short. On Friday, exposure changed to 80% net long.

Our QFC Political Seasonality Index strategy was defensive throughout the week. (Our QFC Political Seasonality Index is available—with all of the daily signals—post-login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

The Volatility Adjusted NASDAQ strategy started the week with an exposure of 180% to the NASDAQ and increased exposure to 200% on Monday.

The Systematic Advantage strategy held a 90% allocation to the S&P 500 throughout the week.

Our QFC Self-adjusting Trend Following strategy was 200% long throughout last week.

The Volatility Adjusted NASDAQ, Systematic Advantage, QFC Self-adjusting Trend Following, and QFC S&P Pattern Recognition strategies can all employ leverage—hence the investment positions may at times be more than 100%.

FPI’s Growth and Inflation measure is one of our Market Regime Indicators. It shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 60% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Gold tends to outpace both stocks and bonds on an annualized return basis in a Normal environment but carries a substantial risk of a downturn in this stage.

Our S&P volatility regime is registering a Low and Falling reading, which favors equities over gold and then bonds from an annualized return standpoint. The combination has occurred 37% of the time since 2003. It is a stage of both high returns and low risk for equities.