Catalyst Funds
Rational Funds
Strategy Shares
The graph and table above provide return data for major income-oriented asset categories for the month of June 2024 and YTD 2024. 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.
Summer Heat
In June, investors welcomed the start of summer by bidding up risk assets across the board. Not even a hot employment report at the start of the month tamped down investor expectations that the Federal Reserve may be winning its war on inflation.
Nonfarm payrolls for the month of May came in at 272,000, up from 165,000 in April and well above expectations of 190,000. Despite job growth, unemployment rose from 3.9% to 4.0%, the highest level since January 2022.
Meanwhile, inflation reports for the month of May were largely in line with expectations, putting downward pressure on interest rates and pushing up valuations of both equity and fixed-income assets. The Core Large Cap Equity category gained 5.5% in June, with technology stocks again leading the way. Meanwhile, the Core Fixed Income category gained 0.9%, with the yield on the benchmark 10-year Treasury declining from 4.5% to 4.42% over the course of the month (bond prices move inversely to yields).
In the Nasdaq Dorsey Wright Explore portion of HANDLS Indexes, MLPs continued to dominate, posting a 4.6% gain in June and boosting their year-to-date returns to 17.5%. On the flip side, utilities, which had been on a recent upswing, retreated in June, recording a 5.5% loss.
HANDLS indexes delivered positive returns across the board in June:
- Nasdaq 5HANDL™ Index: 2.0%
- Nasdaq 7HANDL™ Index: 2.4% (1.3x leveraged)
- Nasdaq 10HANDL™ Index: 3.5% (2.0x leveraged)
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