Third Quarter 2021 Commentary

Market volatility continued into Q3, with large-cap stocks up 0.6% and small-caps down 4.4% for the quarter. While the economy continued its recovery, the delta variant, fed talk, inflation, labor market and supply chain concerns provided headwinds. Disrupted markets continue to provide opportunities for active management. We believe that taking a long-term perspective and a disciplined investment process will be key to navigating current market uncertainty and the recovering global economy.

Key Takeaways

• The economy continues its recovery with manufacturing and services readings remaining high.
• Our behavioral measures and technical signals are in the normal to positive ranges while valuation measures remain elevated.
• Continued uncertainty can be expected as the markets sort through current conditions.

Investment Results

• Global Tactical ETFs: 19.3% vs 11.0% since inception (9/1/2010)
• Pure Valuation Profitability: 17.0% vs 10.0% since inception (7/1/2002)
• Managed Equity: 12.2% vs 11.9% since inception (10/1/2011)

• Global Tactical ETFs
• Pure Valuation | Profitability
• Managed Equity

Athena Global Tactical ETFs

The portfolio is ranked the #1 performing strategy, for 10-year and 1 year performance, in Morningstar’s 358-member Tactical Allocation category as of 6/30/21.¹ 

Now Available as a Mutual Fund

Source: Athena Invest

DISCLOSURES

The information provided here is for general informational purposes only and should not be considered an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. It should not be assumed that recommendations of AthenaInvest made herein or in the future will be profitable or will equal the past performance records of any AthenaInvest investment strategy or product. There can be no assurance that future recommendations will achieve comparable results. The author’s opinions may change, without notice, in reaction to shifting economic, market, business, and other conditions. AthenaInvest disclaims any responsibility to update such views. These views may not be relied upon as investment advice or as an
indication of trading intent on behalf of any AthenaInvest. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives and financial circumstances. You should consult with a qualified financial adviser, legal or tax professional regarding your specific situation. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance is not indicative of future performance.