July (and June) performance update
Here with an overdue performance update (I was delayed in dealing with data provider issues for about a month or so — in short, IEX Cloud shut down its API for good).
For July:
Prime: +4.42%
Select: +2.06%
SPY ETF: +0.95%
Bogleheads Portfolio (80% VTI + 20% BND): +1.76%
For June:
Prime: -0.60%
Select: +0.14%
SPY ETF: +3.25%
Bogleheads Portfolio (80% VTI + 20% BND): +2.21%
June was another weak month for Prime and Select, but the rotation is July was notable and widely discussed. The AI megatrend driving the largest names in the S&P 500 seemed to deflate a bit and small-cap gains were explosive after years of weak returns relative to larger stocks. Those factors alone would not be likely to explain the outperformance of Prime and Select in July, but an improved outlook for value strategies more generally would.
August has been a bloodbath across U.S. equities so far, so let’s see how the rest of the month plays out.
