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How dynamic, risk-managed investment solutions are performing in the current market environment

2nd Quarter | 2024

Quarterly recap

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Current market environment performance of dynamic, risk-managed investment solutions.

U.S. equity markets posted gains in two of the three indexes last week. The S&P 500 was up 0.99%, the NASDAQ Composite went up 1.76%, and the Dow Jones Industrial Average returned 0%. Seven of the 11 sectors were up last week; Information Technology, which posted the best return, went up 2.52%. Ten of the 12 Quantified Funds were up last week: The Quantified STF Fund (QSTFX) went up 3.91%, the Quantified Market Leaders Fund (QMLFX) increased by 2.10%, the Quantified Tactical Sectors Fund (QTSSX) gained 1.64%, the Quantified Rising Dividend Tactical Fund (QRDTX) rose 0.93%, the Quantified Alternative Investment Fund (QALTX) went up 0.86%, the Quantified Evolution Plus Fund (QEVOX) increased by 0.81%, the Quantified Pattern Recognition Fund (QSPMX) was up 0.62%, the Quantified Tactical Fixed Income Fund (QFITX) rose 0.53%, the Quantified Government Income Tactical Fund (QGITX) increased by 0.43%, the Quantified Common Ground Fund (QCGDX) gained 0.14%, the Quantified Managed Income Fund (QBDSX) returned 0%, and the Quantified Global Fund (QGBLX) went down 0.48%.

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 Value (7.57%), Small-Cap Growth (15.13%), Large-Cap Growth (30.26%), and Mid-Cap Growth (22.70%). Total sector ETF weightings were at 75.66%, holding exposures to Financials, Technology, and Health Care.

The cash level within the Quantified Alternative Investment Fund decreased by 1.66% last week (11.96%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the iShares Global Consumer Discretionary ETF (RXI, 5.70%) increased by 1.30%, while allocation to the iShares U.S. Tech Independence Focused ETF (IETC, 4.89%) decreased by 1.93%. Last week, the funds were up 1.57% and 2.84%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures held a 6% net long exposure throughout the week.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund held a 12% net long exposure through Wednesday and then changed to a 10% net short exposure on Thursday.

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) was up 3.91% for the week, compared to a gain of 2.07% for the NASDAQ 100 Index (NDX) and a gain of 2.04% 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 Alerian MLP ETF (AMLP, 6.80%), the Invesco Senior Loan ETF (BKLN, 6.80%), the WisdomTree US LargeCap Dividend Fund (DLN, 6.80%), and the VanEck Intermediate Muni ETF (ITM, 6.80%). Last week, the securities were up 0.26%, 0.19%, 0.52%, and 0.17% respectively. The cash allocation was at 37.21%.

The 10-year U.S. Treasury closed the week down 1.58%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund held an 18% net long exposure through Wednesday and changed to a 10% net short position on Thursday. The S&P 500 E-mini futures started the week with a 6% net short exposure. On Thursday, the position reallocated to a 6.50% net short exposure.

The Quantified Pattern Recognition Fund (QSPMX) held a 70% net long exposure throughout the week.

The Quantified Tactical Fixed Income Fund (QFITX) started the week with a 113.10% net long exposure to Treasurys and a 0% net long exposure to high-yield bonds. On Monday, the position reallocated to a 79.30% net long exposure to Treasurys and a 22% net long exposure to high-yield bonds. On Tuesday, the position changed to a 113.10% net long exposure to Treasurys and a 0% net long exposure to high-yield bonds. On Wednesday, the position reallocated to a 79.30% net long exposure to Treasurys and a 22% net long exposure to high-yield bonds. On Thursday, the position reallocated to a 41.60% net long exposure to Treasurys and a 0% net long exposure to high-yield bonds.

The Quantified Government Income Tactical Fund (QGITX) started the week with an 89.70% net long exposure to Treasurys. On Monday, the position moved to a 74.10% net long exposure to Treasurys. On Tuesday, the position switched to an 89.70% net long exposure to Treasurys. On Wednesday, the position moved to a 74.10% net long exposure to Treasurys. On Thursday, the position moved to an 18.20% net long exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 34% in emerging markets, 33% in the S&P 500, and 33% in international equities.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Costco Wholesale Corporation (COST, 7.24%) and Republic Services Incorporated (RSG, 6.28%). Last week, the securities were up 1.56% and down 0.72%, respectively. The cash allocation was at 12.74%.

The Quantified Global Fund's (QGBLX) largest allocations were the SPDR S&P 500 ETF Trust (SPY, 18.52%) and Telkom Indonesia Persero Tbk PT (TLK, 9.91%). Last week, the securities were up 0.98% and down 4.32%, respectively. The cash allocation was at 7.38%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Financial Select Sector SPDR Fund (XLF, 39.01%), the Technology Select Sector SPDR Fund (XLK, 39%), the Vanguard Information Technology ETF (VGT, 39%), and the Health Care Select Sector SPDR Fund (XLV, 39%).

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

Total Return

Fund (Inception)

Symbol

Qtr Ending (12/31/23)

Year-To-Date

Ending

 (12/31/23)

1 Year Ending (12/31/23)

3 Years Ending (12/31/23)

5 Years Ending (12/31/23)

10 Years Ending (12/31/23)

Since * Inception

Ending

(12/31/23)

Annual Expense

Ratio

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

QGLDX

11.16%

10.32%

10.32%

(0.46%)

6.59%

2.90%

2.46%

1.39%

Quantified Managed Income Fund (8/9/13)

QBDSX

 2.00%

2.25%

2.25%

(0.87%)

(0.46%)

0.37%

0.35%

1.55%

Quantified Market Leaders Fund (8/9/13)

QMLFX

13.77%

15.02%

15.02%

(0.14%)

11.61%

7.11%

7.46%

1.50%

Quantified Alternative Investment Fund (8/9/13)

QALTX

2.63%

2.40%

2.40%

1.69%

3.13%

1.59%

2.32%

1.94%

Quantified STF Fund

(11/13/15)

QSTFX

22.68%

61.85%

61.85%

3.98%

18.35%

N/A

14.74%

1.64%

Quantified Common Ground Fund

(12/27/19)

QCGDX

11.51%

14.74%

14.74%

10.00%

N/A

N/A

11.14%

1.71%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

(0.59%)

1.01%

1.01%

(4.22%)

N/A

N/A

(3.86%)

1.69%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(2.85%)

13.85%

13.85%

7.50%

N/A

N/A

7.71%

1.68%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(4.88%)

(6.54%)

(6.54%)

(11.28%)

N/A

N/A

(5.59%)

1.67%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

12.20%

13.93%

13.93%

N/A

N/A

N/A

(12.37%)

1.75%

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

QRDTX

14.66%

13.26%

13.26%

N/A

N/A

N/A

(5.51%)

1.76%

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

QGITX

(6.23%)

(11.32%)

(11.32%)

N/A

N/A

N/A

(10.31%)

1.71%

Quantified Global Fund (11/29/23)

QGBLX

N/A

N/A

N/A

N/A

N/A

N/A

2.40%

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), 1.39%; Class A, 1.39%; Class C, 1.99%. 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 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.



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