Catalyst Funds
Rational Funds
Strategy Shares
The graph and table above provide return data for major income-oriented asset categories for the month of November 2023 and YTD 2023. Returns for each asset category are based on the returns of the constituent(s) in the Nasdaq HANDLS™ Base Index representing that category. Also included are returns for the Nasdaq 5HANDL™ Index, the Nasdaq 7HANDL™ Index and the Nasdaq 10HANDL™ Index.
From Pain to Gain
Securities markets shrugged off a challenging three months and delivered robust gains across the board in November as hopes for a soft economic landing gained ground among investors. The Core Large Cap Equity category delivered a healthy 10.3% return while the Core Fixed Income category gained 4.6% for the month.
Every category in the Nasdaq Dorsey Wright Explore portion of HANDLS Indexes delivered healthy gains in November. REITs led the way with an 11.6% return, benefiting from a strong rally in the bond market that drove down financing costs for the interest-rate sensitive category. Active Fixed Income was the biggest laggard over the course of the month, but still managed to deliver a 4.5% return.
The Nasdaq 5HANDL Index returned 6.7% for the month. The Nasdaq 7 HANDL Index, the 1.3x leveraged version of the index, returned 8.6% in November while the Nasdaq 10 HANDL Index, the 2.0x leveraged version of the index, delivered a 13.2% return.
A strong month helped the Core Large Cap Equity category maintain its leadership position with a 36.7% return on a year-to-date basis through the end of November. Declining interest rates drove up bond prices, pushing the Core Fixed Income category into the black for the year with a 1.8% return.
The MLP category continued its banner year, delivering a 7.2% return in November to increase its year-to-date return to 25.8% after nearly a decade of futility. The Utilities category rebounded in November (+5.0%) but remained down a whopping 10.0% on a year-to-date basis, the only category in the Nasdaq Dorsey Wright Explore portion of HANDLS Indexes with negative returns for the year.
On a year-to-date basis, the Nasdaq 5HANDL Index was up 8.9% through the end of November, versus returns of 10.0% and 12.3% for the Nasdaq 7 HANDL Index and Nasdaq 10 HANDL Index, respectively.
*The graph and table above provide return data for major income-oriented asset categories since inception of HANDLS Indexes (3/12/2009). Returns for each asset category are based on the returns of the constituent(s) in the Nasdaq HANDLS™ Base Index representing that category. Also included are returns for the Nasdaq 5HANDL™ Index, the Nasdaq 7HANDL™ Index and the Nasdaq 10HANDL™ Index. Inception dates for MLPs (1/2/2013), Build America Bonds (1/2/2010) and Active Fixed Income (1/2/2014)
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Important Disclosure: Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED. © 2023. Nasdaq, Inc. All Rights Reserved
