Articles by Greg Swenson, CFA Director of Equities

The Leuthold Core and Global Portfolios both had negative returns in October, with Core fared better due to more favorable performance from its underlying equities. 

AdvantHedge was up 2.3% in September. It trailed the inverse S&P 500 (+3.8%) and the inverse Russell 2000 (+3.3%).

The Leuthold Core and Global Portfolios both had losses in September but held up well relative to the broad market, thanks to outperformance of the underlying equity strategies. 

There was little movement among the sector rankings. While Health Care and Information Technology remained the top-two rated sectors (out of eleven total), Consumer Discretionary jumped to the 3rd spot from 5th. Communication Services and Consumer Staples each dropped one position to move into 4th and 5th place, respectively. The bottom-three rated sectors, Real Estate, Energy, and Utilities are unchanged.

Growth continues to lead within Large Caps while Value has the advantage among the Mid and Small Cap arena.

There was some movement among the sector rankings. While Health Care, Information Technology, and Communication Services remained the top-three rated sectors (out of eleven total), Consumer Staples advanced to the 4th spot from 6th and Financials dropped to the 8th position from 5th. The bottom-three rated sectors, Real Estate, Energy, and Utilities are the same as last month.

AdvantHedge was down 8.3% in August, trailing the inverse S&P 500 (-7.2%) and the inverse Russell 2000 (-5.6%).

The Leuthold Core and Global Portfolios turned in positive performance in August, but failed to keep pace with large cap stocks.

Select Industries, Global Industries, and AdvantHedge performance

In July, the Leuthold Core and Global Portfolios both turned in strong performance.

There was no movement among the sector rankings. Health Care, Communication Services, and Information Technology are the top-three rated sectors (out of eleven total). The bottom-three rated sectors are Real Estate, Energy, and Utilities.

AdvantHedge was down 6.3% in June, trailing the inverse S&P 500 (-2.0%), and the inverse Russell 2000 (-3.5%).

The Leuthold Core and Global Portfolios both turned in positive performance in June.

What can slowdown the outperformance of Growth stocks? It turns out, the answer to that persistently-unanswerable question is “Not much.” Not even a global pandemic-driven sell-off and swift rebound. From the market high in February through June 30th, Growth handily outperformed every other factor.

There was minimal movement among the sector rankings. The only two to shift positions were Industrials and Materials, with the former dropping to 8th from 7th place and the latter rising to 7th place from 8th. Health Care, Communication Services, and Information Technology are the top-three rated sectors (out of eleven total). The bottom-three rated sectors are Real Estate, Energy, and Utilities.

For the third consecutive month, Health Care, Communication Services, and Information Technology remain the top-three rated sectors (out of eleven total). Materials moved up to 7th place from 9th, while Utilities declined from 8th place to last, with Real Estate and Energy the next lowest rated.

AdvantHedge was down 10.5% in May, trailing the inverse S&P 500 (-4.8%), and the inverse Russell 2000 (-6.5%).

The Leuthold Core and Global Portfolios both turned in solid performance in May thanks to strong performance from the underlying equity strategies.

AdvantHedge was down 17.6% in April, trailing the inverse S&P 500 (-12.8%), and the inverse Russell 2000 (-13.7%).

The Leuthold Core and Global Portfolios both participated in the equity market rally, but gains trailed their respective 100% equity benchmarks.