Rebound Continues … MFO Ratings Updated Through May 2020

All fund risk and return metrics, ratings, and analytics have been uploaded to MFO Premium, reflecting performance through May 2020.

The S&P 500 continues to recover from its March lows, now off just a few percent YTD. The rebound has been driven mostly by the tech leaders: Microsoft, Apple, Amazon, Google, and Facebook. These five companies comprise nearly $6T in market cap and represent 20% of the broader US index.

International and emerging markets, however, remain down 15%. Energy and real estate are worse, off 30% and 20%, respectively. Value continues to lag, especially small-cap value, but it is showing signs of recovery.

New features in MultiSearch this month include:

  • Evaluation Periods. Nine new evaluation (or display) periods, as described here and in this month’s MFO commentary: Not So Welcome Back ZIRP. The new periods key on events since the Great Financial Crisis. The same nine have also been added to the Portfolios tool.
  • Watchlists. Can now hold 100 symbols (aka tickers) up from 25, all stored in your account profile. Similarly, symbol searches can include up to 100 tickers. Also, names of Watchlists and Portfolios can be customized. Just hover cursor over default name and enter new name.
  • Exchange Traded Notes (ETNs). Have been added as a distinct option under Asset Universe, like ETFs and CEFs. There are 178 ETNs in our Refinitiv Global Data Feed. Most are commodities based and strictly trading vehicles like fx trading by VT markets. But a couple, like CAPE (thank you David Moran), are worth observing at least.

As always, if you see anything amiss or have suggestions for improvement, let us know and we will respond soonest.