Articles by Greg Swenson, CFA Director of Equities

The top-three-rated sectors are Communication Services, Information Technology, and Consumer Discretionary. Financials dropped from the second-highest-rated to #4 (it ranked in 9th place out of the eleven sectors last March); it has now placed among the top four since May. This is the eighth consecutive month in which Utilities, Materials, and Energy have dominated the bottom three positions.

Improvement in the Momentum category overpowered smaller losses elsewhere as market valuation and sentiment both remain elevated.

In a reversal from August when the portfolios performed well in a down month, the Leuthold Core Portfolio and the Leuthold Global Portfolio both lagged their respective 100% equity benchmarks in September.  

The top-three-rated sectors are Communication Services, Consumer Discretionary, and Financials. As recently as March, Financials ranked in 9th place out of 11 sectors; it has now placed among the top four since May.

Momentum has made a furious comeback after a rough start to the year, posting an +11% spread in both May and August. Value continues to get crushed and there has been nowhere to hide: The pain is equally distributed between cheap and expensive, and it’s happening in every sector.

The top-three-rated sectors are Communication Services, Consumer Discretionary, and Financials. As recently as March, Financials ranked in 9th place out of 11 sectors; it has now placed among the top four since May. Info Tech dropped from the #1 spot to #4 in the latest calculation. For six consecutive months now, the three lowest-ranked sectors are Utilities, Materials, and Energy.

The Leuthold Core Portfolio and the Leuthold Global Portfolio both outperformed their 100% equity benchmarks during August.

The Leuthold Core Portfolio slightly underperformed and the Leuthold Global Portfolio slightly outperformed their respective benchmarks in July.

The top-three-rated sectors are Communication Services, Information Technology, and Financials. As recently as March, Financials ranked in 9th place out of 11 sectors; it has now placed among the top four since May. Real Estate dropped out of the top three after a two-month visit and is situated in 5th place this round. For the fifth consecutive month, the three lowest-ranked sectors are Utilities, Materials, and Energy.

The Leuthold Core and Global portfolios both lagged their respective 100% equity benchmarks in June as the market rebounded from the May sell-off.

The top-three-rated sectors are Communication Services, Financials, and Real Estate.

The top-three-rated sectors are Information Technology, Real Estate, and Financials.

The Leuthold Core and Global portfolios both outperformed their respective 100% equity benchmarks in May as the market rolled over. 

The Leuthold Core and Global Portfolios both lagged their respective 100% equity benchmarks in April as the underlying equity portfolios lagged in a strong up market.

The top-three rated sectors are Information Technology, Communication Services, and Consumer Discretionary.

· From a factor performance standpoint, 2019 is looking a lot like 2018, with expensive Momentum names outperforming everything else and Value struggling.

The top-three rated sectors are Communication Services, Health Care, and Information Technology. Scoring at the bottom of the ranks are Energy, Materials, and Utilities. Financials improved from ninth place to sixth, springing ahead of the Industrials and Consumer Staples sectors. 

The Leuthold Core and Global Portfolios both lagged their respective 100% equity benchmarks in March.

The Leuthold Core and Global Portfolios both lagged their respective 100% equity benchmarks in February.

The top-three rated sectors are Health Care, Communication Services, and Consumer Discretionary. Scoring lowest in the latest rankings are Energy, Materials, and Financials.