Strategas Asset Management ETF Strategist Todd Sohn lists out what’s aggressive and what’s contrarian from sector ETF flows and provides an update on the vastly growing influence of the semiconductors within benchmark indices.

Definitions:

The S&P 500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States.

ARK Innovation ETF (“ARKK”) is an actively managed ETF that seeks long-term growth of capital by investing in disruptive innovation companies.

The Direxion Daily Semiconductor Bull ETF (“SOXL”) is a fund that provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies.

The Invesco S&P 500® Equal Weight Industrials ETF (“RSPN”) seeks to track the investment results (before fees and expenses) of the S&P 500® Equal Weight Industrials Index (the "underlying index").

The Invesco S&P 500 Equal Weight ETF (“RSP”) tracks an equal-weighted index of S&P 500 companies.

The Invesco S&P 500® Equal Weight Energy ETF (“RSPG”) seeks to track the investment results (before fees and expenses) of the S&P 500® Equal Weight Energy Index (the "underlying index").

This communication was prepared by Strategas Asset Management, LLC ("we" or "us" or “our”). This communication represents our views as of 03/04/2024, which are subject to change, and are presented for illustrative purposes only. The information contained herein has been obtained from sources we believe to be reliable, but no guarantee of accuracy can be made. This communication is provided for informational purposes only and should not be construed as an offer, recommendation, nor solicitation to buy or sell any specific security, strategy, or investment product. This communication does not constitute, nor should it be regarded as, investment research or a research report or securities recommendation and it does not provide information reasonably sufficient upon which to base an investment decision. This is not a complete analysis of every material fact regarding any company, industry, or security. Additional analysis would be required to make an investment decision. This communication is not based on the investment objectives, strategies, goals, financial circumstances, needs or risk tolerance of any particular client and is not presented as suitable to any other particular client. Past performance does not guarantee future results. All investments carry some level of risk, including loss of principal.

Strategas Asset Management, LLC is an SEC Registered Investment Adviser affiliated with Strategas Securities, LLC, a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser. Both Strategas Asset Management, LLC and Strategas Securities, LLC are affiliated with Robert W. Baird & Co. Incorporated ("Baird"), a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser, although the firms conduct separate and distinct businesses.