Tech is on a Tear ????

This week we're looking at the year-to-date performance of the biggest market indices and style factors. We'll also give an update on the performance of the STRATxAI ETF strategies. Finally, we'll explore Bitcoin's recent dominance over the crypto sector.

Read in full here. This includes charts and detailed analysis.

Market Indices

In 2023, the technology sector has been the primary contributor to the overall gains. Year-to-date, the Nasdaq-100 (QQQ) has experienced a substantial increase of nearly 20%, surpassing the performance of other indices. The S&P 500 (SPY) maintains a positive trend with a growth of 7.4%, while the Dow Jones Industrial Average (DIA) and Russell-2000 have shown little progress, remaining flat for the year thus far.

60% (4.2%) of the return of the S&P 500 this year is attributable to just 7 stocks. Apple, Microsoft, Amazon, Nvidia, Tesla, Google, and Meta account for only 24% of the index.

Style Factors

Turning now to the primary style factors. The quality factor is leading the way in 2023, with a 5.6% gain. The remaining factors, value, dividend yield, low vol, and momentum remain flat for the year.

STRATxAI ETF Strategy Performance

We provide a catalog of diversified ETF strategies. Analyzing the performance of each of these strategies over the past year, we can compare their performance versus that of the S&P 500, which has returned -6.6% over the past year. Our momentum strategy, 'Go with the Mo' comes out on top with a 4.3% gain over the past 12 months. This is followed by the 'Market Rotation' and the 'All-Weather' strategies, which have returned -3%. The 'Stock-Bond Switch' strategy is down -4.5% while the ESG-focused 'Green Planet' strategy has returned -15%.

See our ETF strategies?for an in-depth analysis of their performance.

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