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# Julex Capital Management

Tactical . Quantitative . Solutions

## Posts

- [Market Commentary - Blog](https://www.julexcapital.com/blog/)
- [Julex Capital Awarded Top Guns Designation by  Informa Financial Intelligence in Q1 2023](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q1-2023/) - WELLESLEY, MA – June 21, 2023 - Julex Capital Management, LLC., has been awarded a "Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q2 2022. Dynamic Sector - PSN "TOP GUNS" RATING - for 1-year Performance in the ETF US Balanced Universe TrueAlpha™ Small
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q2 2026](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q2-2026/) - WELLESLEY, MA – August 2, 2026 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q2 2026. Julex Dynamic Income PSN “TOP GUNS” RATING For Q2, 1-Year and 3-Year Performance in the Intermediate Core Fixed Income
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q4 2025](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q4-2025/) - WELLESLEY, MA – March 10, 2026 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q4 2025. Julex TrueAlpha Small Cap - PSN “TOP GUNS” RATING For Q4 and 1-Year Performance in the Small Cap Universe
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q3 2025](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q3-2025/) - WELLESLEY, MA – November 20, 2025 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2025. Dynamic Income – PSN “TOP GUNS” RATING For 3-Year Performance in the Intermediate Core Fixed Income Universes Dynamic Developed
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q1 2025](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q1-2025/) - WELLESLEY, MA – May 20, 2025 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q1 2025. TrueAlpha Small Cap – PSN “TOP GUNS” RATING For Q1 Performance in the Small Cap Value Universes Dynamic Developed
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q3 2024](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q3-2024/) - WELLESLEY, MA – November 19, 2024 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2024. Large Cap PlusPSN “TOP GUNS” RATINGFor 3-year Performance in the Large Cap Universes Dynamic Income PSN “TOP GUNS” RATINGFor
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q1 2024](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q1-2024/) - WELLESLEY, MA – May 23, 2024 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2023. Large Cap Plus PSN “TOP GUNS” RATING For 3-year Performance in the Large Cap Universes Dynamic Income PSN “TOP
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q3 2023](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q3-2023/) - WELLESLEY, MA – Nov 29, 2023 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2023. Dynamic Multi AssetPSN “TOP GUNS” RATING3-year Performancein the ETF Global Balanced and Global Balanced Universes Dynamic SectorPSN “TOP GUNS”
- [Julex Weekly Market Review - August 25, 2023](https://www.julexcapital.com/julex-weekly-market-review-august-25-2023/) - Markets finished mixed this week. The Dow fell .53%, while the S&P 500 increased .58% and the Nasdaq Composite gained 1.82%. Earnings Reports Nvidia shares spiked 7% after a quarter in which the chip-maker generated $13.51 billion in revenue, a year over year increase of 101%. Additionally, the company’s Q3 forecast also greatly beat expectations,
- [Julex Weekly Market Review - August 18, 2023](https://www.julexcapital.com/julex-weekly-market-review-august-18-2023/) - The markets were mostly down this week. The Dow fell 2.19%, the S&P 500 lost 1.98%, and the Nasdaq Composite decreased 2.27%. Earnings Reports Walmart shares jumped 2% as the retailer exceeded investor expectations in both revenue and earnings per share in Q2, partly because of a 24% increase in E-commerce sales. The company also
- [Julex Weekly Market Review - August 11, 2023](https://www.julexcapital.com/julex-weekly-market-review-august-11-2023/) - The markets had a mixed week. The Dow ended up 1.06%, while the S&P 500 lost 0.61% and the Nasdaq Composite fell 2.34%. Moody’s Downgrades 10 Banks’ Credit Ratings The banks downgraded by the rating agency were primarily small to mid-sized banks, including M&T, Webster, and Pinnacle. Six other banks were placed under review for
- [Global Asset Allocation Views - August 2023](https://www.julexcapital.com/global-asset-allocation-views-august-2023/) - (SUW – strong underweight, UW - underweight, N – Neutral, OW-overweight, SOW – strong overweight) Download the Whole Report
- [Julex Weekly Market Review - August 4, 2023](https://www.julexcapital.com/julex-weekly-market-review-august-4-2023/) - Stocks ended the week down, as the Dow fell 1.13%, the S&P 500 decreased 2.32%, and the Nasdaq Composite dropped nearly 3%. Fitch Downgrades US Credit Rating The rating agency cut the US rating from AAA, the highest rating, to AA+, the second highest, due to an anticipated “fiscal deterioration over the next three years,”
- [Julex Weekly Market Review - July 21, 2023](https://www.julexcapital.com/julex-weekly-market-review-july-21-2023/) - The Dow gained for the tenth straight day on Friday, up 2.08% on the week. The S&P 500 Index gained 0.69%, while the Nasdaq Composite index rose by 0.54%. Bank Earnings Reports Amid high interest rates among other factors, many banks released positive earnings reports alongside other banks such as JP Morgan Chase and Wells
- [Julex Weekly Market Review - July 28, 2023](https://www.julexcapital.com/julex-weekly-market-review-july-28-2023/) - This week, the Dow rose 0.65%, although it ended a 13 day winning streak on Thursday. The S&P 500 gained 0.79%, and the Nasdaq Composite increased by 1.67%. A large part of the gains stemmed from positive earnings reports, and the Federal Reserve’s more positive outlook on the economy. US Federal Reserve Meeting The
- [Global Asset Allocation Views - June 2023](https://www.julexcapital.com/global-asset-allocation-views-june-2023/) - (SUW – strong underweight, UW - underweight, N – Neutral, OW-overweight, SOW – strong overweight) Read More Disclosure This post is for the purpose of information exchange. This is not a solicitation or offer to buy or sell any security. You must do your own due diligence and consult a professional investment advisor before making
- [Global Asset Allocation Views - July 2023](https://www.julexcapital.com/global-asset-allocation-views-july-2023/) - The Global Asset Allocation recommendations are similar to those of last month. (SUW – strong underweight, UW - underweight, N – Neutral, OW-overweight, SOW – strong overweight) Download Monthly Global Asset Allocation Views Disclosure This presentation is for the purpose of information exchange. This is not a solicitation or offer to buy or sell any
- [Julex Weekly Market Review - July 14, 2023](https://www.julexcapital.com/julex-weekly-market-review-july-14-2023/) - The week saw market rallies, as the Dow rose over 800 points, or 2.4%, in the best performance since March. The S&P 500 rose 2.5%, and the Nasdaq rose 3.3%. The rises were in part due to optimism regarding inflation and an end to rate hikes, as well as strong earnings reports from companies such
- [Eight Graphs to Show Why You Should Be Bearish on US Stocks](https://www.julexcapital.com/eight-graphs-to-show-why-you-should-be-bearish-on-us-stocks/) - Weakening economic data, tightening monetary and liquidity conditions, elevated inflation, declining corporate profits and unattractive market valuations support a bearish outlook for US stocks. Leading and high frequency economic data continue to point to weaker growth and a potential recession. The Composite Leading Economic Index (CLI) has been showing weakness. The leading economic indicators like
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q2 2022](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q2-2022/) - WELLESLEY, MA – August 23, 2022 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q2 2022. Dynamic SectorPSN “TOP GUNS” RATINGfor Q2 and 1-year Performance in the ETF US Balanced Universe TrueAlpha™ Small Cap PSN
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q3 2022](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q3-2022/) - WELLESLEY, MA – Nov 23, 2022 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2022. Dynamic Multi AssetPSN “TOP GUNS” RATING3-year Performancein the ETF Global Balanced and Global Balanced Universes Dynamic Real AssetPSN “TOP GUNS”
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q1 2022](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q1-2022/) - WELLESLEY, MA – May 25, 2022 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q1 2022. Dynamic Multi Asset PSN “TOP GUNS” RATING for 1-year Performance in the ETF Global Balanced and Global/International Balanced Universes
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q4 2021](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q4-2021/) - WELLESLEY, MA – March 8, 2022 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q4 2021. Dynamic Sector PSN “TOP GUNS” RATING for Q4 Performance in the ETF US Balanced Universe Dynamic Multi Asset PSN
- [Where Inflation Goes To Hide](https://www.julexcapital.com/where-inflation-goes-to-hide/) - It has been a half a century since consumers were last seriously concerned about inflation, but supply shortages and rising prices have some harkening back to the gas lines and stagflation talks that dominated financial discussions the 1970’s. In this article, we look at the case for continued growth in inflation, explain how officially reported
- [What Would Happen to Stocks if Russia Invades Ukraine](https://www.julexcapital.com/what-would-happen-to-stocks-if-russia-invades-ukraine/) - By Henry Ma, Chief Investment Officer Financial markets have become more volatile this year amid higher inflation and potential rate hikes by the Federal Reserve. The uncertainty about whether Russia will invade Ukraine and how the US and NATO would respond have presented an additional risk. On Monday, Russian President Putin ordered troops into Donbas
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q2 2021](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q2-2021/) - WELLESLEY, MA – August 24, 2021 - Julex Capital Management, LLC., has been awarded a "Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q2 2021. TrueAlpha™ Small CapPSN "TOP GUNS" RATING and BULL/BEAR MASTERSfor Three-Year Performance in the Small Cap Value Universe Dynamic IncomePSN
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q3 2021](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q3-2021/) - WELLESLEY, MA – November 18, 2021 - Julex Capital Management, LLC., has been awarded a "Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q3 2021. TrueAlpha™ Small CapPSN "TOP GUNS" RATING and BULL/BEAR MASTERS for Three-Year Performancein the Small Cap Value Universe Dynamic Income
- [Does Brexit Have Any Impact on US Stocks?](https://www.julexcapital.com/does-brexit-have-any-impact-on-us-stocks/) - Henry Ma, Ph.D., Chief Investment Officer On June 23, UK will hold a referendum on whether Britain will remain at EU. With 11 days to go, the most recent poll conducted by the Economist.com shows that 43% are in favor of “leaving”, 42% like “remaining”
- [Our Thoughts on Brexit](https://www.julexcapital.com/our-thoughts-on-brexit/) - Last night, Britain voted to leave the European Union by a narrow margin. Global stock markets tumbled as the result surprised many investors. We were not surprised by the exit, but were surprised by the strong market reaction. The markets had not priced in this outcome, though the event had been well broadcasted for months.
- [It Is the Economy, Not the Election](https://www.julexcapital.com/it-is-the-economy-not-the-election/) - With one week away from one of the most “interesting” elections in recent history, the two candidates, Hillary Clinton and Donald Trump, are running a very tight race. There remains a great deal of uncertainty about who will win and what it will mean for the stock market. Conventional wisdom often says that Republicans are
- [Three Charts Explaining Why Economic Growth Is So Slow](https://www.julexcapital.com/three-charts-explaining-why-economic-growth-is-so-slow/) - Since the Great Recession in 2008, the economic recovery has been particularly slow, especially when compared to the historical norm. Between 1947 and 2016, the average growth rate during economic expansion periods was 4.19%, but during the current expansion between 2009 and 2016, the GDP growth was merely 2.12%, half of the long term average
- [Do Low Interest Rates Support Current High PE Ratio?](https://www.julexcapital.com/do-low-interest-rates-support-current-high-pe-ratio/) - The US stock market has been in a bull run for almost eight years since March 2009. The stock valuation is getting higher and higher as the market continues setting records. Currently, the 12-month trailing price-earnings ratio of S&P 500 companies is traded at 21.1, which is much higher than the historical average of 16.6
- [Is Smart Beta Smarter Than Index?](https://www.julexcapital.com/is-smart-beta-smarter-than-index/) - In the past 10 years, smart beta has become one of the fastest growing investment segments. Being called by different names such as strategic beta, fundamental indexing or factor investing, smart beta represents rules-based strategies that aim to deliver better returns than traditional market-cap-weighted indexes by selecting stocks or using different weighting schemes based on
- [An Economic Analysis of Active vs. Passive](https://www.julexcapital.com/an-economic-analysis-of-active-vs-passive/) - The debate on active vs. passive investing has been heating up in last few years as investors are becoming more and more in favor of passive investment funds. In fact, even the legendary investor Warren Buffett advocated investing in index funds in his most recent annual newsletter. He wrote “A lot of very smart people
- [Is Low Volatility a Contrarian Sell Signal?](https://www.julexcapital.com/is-low-volatility-a-contrarian-sell-signal/) - One of the most-watched fear gauges on Wall Street has been traded at the lowest levels in decades. The CBOE Volatility Index VIX, which is based on the 30-day options contracts on S&P 500 Index, closed on May 9th at 9.77, the lowest level since Dec. 27, 1993. Despite the spike last week, the VIX
- [What Trump's Tax Plan Means for Income Investments?](https://www.julexcapital.com/what-trumps-tax-plan-means-for-income-investments/) - Despite the Russian scandal hanging over the Trump administration, many investors still believe some type of the tax reform bill may pass this year. In late April, the members of the administration outlined the broad strokes of the proposed plan and called it the “biggest tax cut in history”. Table 1 summarizes the main points
- [If Jeremy Grantham Has a Changing Heart on Value Investing, Should You?](https://www.julexcapital.com/if-jeremy-grantham-has-a-changing-heart-on-value-investing-should-you/) - Jeremy Grantham, one of the most notable “top-down” value investor, recently had a changing heart on value investing. In his widely-read quarterly newsletter titled “This Time Seems Very, Very Different”, he noticed the average P/E ratio of the S&P 500 after 1996 was 65% to 70% higher than the long term average. He attributed higher
- [Looking for Value? Go Abroad](https://www.julexcapital.com/looking-for-value-go-abroad/) - Since the end of the financial crisis, the US has led the global equity market recoveries for over eight years. Table 1 shows the total returns of US and international equity market ETFs. The S&P 500 Index ETF (SPY) gained 303.8% after it bottomed on March 9, 2009, while the MSCI EAFE Index ETF (EFA)
- [Is There a Passive Investing Bubble?](https://www.julexcapital.com/is-there-a-passive-investing-bubble/) - Since I published the article “An Economic Analysis of Active vs. Passive”, I have received a lot of feedback from friends and colleagues. A number of people were very concerned about the potential impacts of increasing passive investments on the health of financial markets. When I did a google search, words like “the greatest bubble
- [Are We Entering Another Credit-Fueled Bubble?](https://www.julexcapital.com/are-we-entering-another-credit-fueled-bubble/) - The bull market is in a full swing and everything is becoming more and more expensive. The US equity markets are hitting record highs day after day. The cyclically-adjusted PE ratio (Shiller PE) has reached 31.2, which is 90% higher than its historical average of 16.8 since 1880 (see Figure 1). High yield bonds, the
- [3 Worst Bear Markets Started with High PE](https://www.julexcapital.com/three-worst-bear-markets-started-with-high-pe/) - As the stock markets continue setting records day after day, many investors are becoming more and more concerned about the potential over-valuation and a possible market correction. The widely-followed cyclically-adjusted price-earnings ratio (Shiller PE) reached 31.2, almost twice as much as the historical average of 16.8. While market valuation may not be a good timing
- [Implications of GOP Tax Bill for Equity Sectors](https://www.julexcapital.com/implications-of-gop-tax-bill-for-equity-sectors/) - The GOP Tax Cuts and Job Act was passed in the Congress and signed into law by the Trump Administration. The bill marks the largest tax overhaul in thirty years since 1986. Although the timing and fairness of the tax cuts are debatable, the bill will provide a boost to corporate earnings, and thus the
- [What Happened to Stocks When the Fed Was Tightening](https://www.julexcapital.com/what-happened-to-stocks-when-the-fed-was-tightening/) - The stock market plunged on rising interest rates worries after stronger-than-expected job and wage numbers were reported on February 2nd. The sharp sell-off in the following trading sessions sent the S&P 500 Index down by 8.5% in five days. Investors were concerned that the Federal Reserve may increase interest rates more aggressively as inflation may
- [Will Wage Growth Drive Up Inflation?](https://www.julexcapital.com/will-wage-growth-drive-up-inflation/) - The most recent two job reports moved the equity market significantly. The S&P 500 Index jumped 1.7% on March 9th after the Labor Department reported an impressive 313K job gains in February. In contrast, the Index tumbled by 6.4% in two consecutive trading days after a strong job report on February 2nd. Why did the
- [Are US and China Heading Toward a Full-Blown Trade War?](https://www.julexcapital.com/are-us-and-china-heading-toward-a-full-blown-trade-war/) - The fear of a global trade war hung over wall street after President Trump’s announcement that he would impose a tariff of 25% on an estimated $60 billion Chinese imports. The S&P 500 Index plunged over 4.5% in two days and entered negative territory for 2018. The initial reaction from the Chinese ambassador, Cui Tiankai,
- [Earnings Growth Drives Market Return in the Long Run, But Not in the Short Run](https://www.julexcapital.com/earnings-growth-drives-market-return-in-the-long-run-but-not-in-the-short-run/) - The Q1 earning reports have been very strong so far. With over half the S&P 500 companies that have reported, according to FactSet, the blended growth rate for S&P 500 EPS is 22.9%, the highest level since Q3 2010 if the number continues to hold up for the quarter. Roughly 80% have beaten consensus estimates. However,
- [These 3 Stock Sectors May Fare Well In The Current Economic Cycle](https://www.julexcapital.com/these-3-stock-sectors-may-fare-well-in-the-current-economic-cycle/) - Henry Ma, President and Chief Investment Officer of Julex Capital, interviewed with Investor's Business Daily to discuss "These 3 Stock Sectors May Fare Well In The Current Economic Cycle" .
- [Is Trade War the “New Normal”?](https://www.julexcapital.com/is-trade-war-the-new-normal/) - The trade war between the world’s two largest economies finally arrived. Last Friday, President Trump followed through with his threats of tariffs against China when the U.S. implemented duties on $34 billion in Chinese imports. Beijing retaliated proportionately by imposing on a $34 billion list of goods that included soybeans, pork and electric vehicles. However,
- [Are We Entering an “Everything Bubble”?](https://www.julexcapital.com/are-we-entering-an-everything-bubble/) - Since the Great Recession bear market bottom in March 2009, the S&P 500 stock index is up a jaw-dropping 300%. In addition, the index is approximately 80% higher than its 2007 peak. Housing markets have also made a full recovery. The Case/Shiller National Housing Price Index is about 10% higher than the peak reached in
- [Is the Record Stock Buyback a Troubling Sign for Continued Economic Expansion?](https://www.julexcapital.com/is-the-record-stock-buyback-a-troubling-sign-for-continued-economic-expansion/) - After nine years of bull market, it is not a surprise that stocks have become quite expensive. The Shiller PE, which compares companies’ share prices with their 10-year earnings average that is used to smooth the cyclical effect, is traded at 33, well above the historical average of 16. Trade wars, rising interest rates and
- [Is the Golden Age of Emerging Marketing Investing Over?](https://www.julexcapital.com/is-the-golden-age-of-emerging-marketing-investing-over/) - Since Trump started the trade war with China at the beginning of 2018, the stock market performance has diverged significantly between the US and emerging market countries. Year to date as of October 22nd, S&P 500 Index ETF (SPY) rose 4.7%, but the MSCI Emerging Market Index ETF (EEM) tumbled by 14.2% (see Figure 1). However, the underperformance of
- [Time for More International Exposure?](https://www.julexcapital.com/time-for-more-international-exposure/) - U.S. equity performance has consistently been amongst the top of all developed nations over the last decade. Going back to The Great Recession, the S&P 500 has outperformed international developed market indexes such as the MSCI EAFE by a large margin. In fact, the U.S. has had higher annual returns than any other developed economy
- [Is Economic Growth a Driver of Earnings?](https://www.julexcapital.com/is-economic-growth-a-driver-of-earnings/) - Many economists expect a slowdown in U.S. growth during 2019. The FOMC projected 2.3% growth for the year back in December, which is a reduction from the 3% growth observed in 2018. Meanwhile, Wall Street analysts have lowered their earnings estimates. According to FactSet, analysts are projecting earnings growth to be 4.5% this year, much
- [Can the Decade-Long Bull Market Continue?](https://www.julexcapital.com/can-the-decade-long-bull-market-continue/) - It’s been over a decade since the S&P 500 Index bottomed at an intraday level of 666 on March 6th, 2009. It took four years from this bottom for the index to breach the high-water closing mark of 1,515 that it set in December 2007, and U.S. equities have rallied an eye-popping 318% (albeit with
- [Which Sectors Will Benefit From The Trade Deal?](https://www.julexcapital.com/which-sectors-will-benefit-from-the-trade-deal-2/) - Trump’s fervent advocacy for “fair trade” has prompted the President to deride NAFTA, anger the EU, and, maybe most notably, engage in a trade war with China that has currently placed tariffs on about $360 billion worth of goods in total. The spat with the globe’s second largest economy seems to be winding down on
- [How Inflation and Interest Rates Affect Various Income Producing Assets](https://www.julexcapital.com/how-inflation-and-interest-rates-affect-various-income-producing-assets/) - Income conscious individuals have a variety of investment options to choose from including government issued debt, real estate, corporate bonds, and high dividend stocks. While these asset classes are certainly different in many ways, they are similar in that they are subjected to the prevailing interest rates and inflation levels. Inflation erodes the real value
- [The Case for a Recession](https://www.julexcapital.com/the-case-for-a-recession/) - In the first 29 months of the Trump presidency, the S&P 500 has risen by about 11.3% annually through June 30th. On one hand, this beats the long-run (50-year) average of the market by 4.25%. On the other hand, this performance is not especially noteworthy considering the steepness of the recovery from the housing bubble;
- [The Yield Curve Inversion May Be Different This Time](https://www.julexcapital.com/the-yield-curve-inversion-may-be-different-this-time/) - For the last three months, the treasury yield curve has been inverted. The curve is usually upward sloping to account for both the term-premium and additional interest rate/inflation risk that an investor takes on when they buy longer dated issuances. This anomaly is of particular interest because an inversion in the yield-curve has historically been
- [Is Passive Investing the Next Bubble?](https://www.julexcapital.com/is-passive-investing-the-next-bubble/) - Almost two years ago, we wrote a piece on the decades-long trend of passive investing and its impacts on the market. The thoughts expressed in the article are still relevant today as Michael Burry, a prominent subject in Michael Lewis’ The Big Short, recently labeled the trend in passive investing a bubble. In his interview
- [The Divergence Between Corporate Profits and Market Valuations May Not Last](https://www.julexcapital.com/the-divergence-between-corporate-profits-and-market-valuations-may-not-last/) - From tweets to trade wars to impeachment inquiries, 2019 has been anything but steady. The one thing that has weathered the storm? The U.S. equity market, which is up almost 25% YTD. Despite this strong performance, there is an increasing concern among investors that equity prices may be out of line with corporate fundamentals. Although
- [Time For More Small Cap Exposure?](https://www.julexcapital.com/time-for-more-small-cap-exposure/) - The so-called “size premium”, which says that the growth potential in small cap companies compensates for their increased risk, has a long-standing historical precedence. In Dr. Kenneth French’s research on factor investing, he showed that the bottom quintile of stocks in terms of market cap have returned 11.7% annually since July 1926, while the top
- [Corona Stimulus In Context](https://www.julexcapital.com/corona-stimulus-in-context/) - Following the stunning first-quarter sell-off (see Figure 1 below), both the Federal Reserve and Congress took unprecedented actions to mitigate the economic impact of the Coronavirus. The Fed originally cut 50bps off their target rate in a March 3rd emergency meeting, but slashed another 100bps—all the way to zero—just twelve days later. They also tremendously
- [Adapting the Approach to Value Stock Selection](https://www.julexcapital.com/adapting-the-approach-to-value-stock-selection/) - Some of the best-known investors of the last century have been value oriented. Benjamin Graham, Joel Greenblatt, and Warren Buffet have each emphasized investing in companies that trade at a low price relative to the value of their assets or steadiness of earnings. Despite this fact, the value play has been suffering ever since the
- [When Do Quant Strategies Outperform?](https://www.julexcapital.com/when-do-quant-strategies-outperform/) - From 2010 to 2017, quant managers generally did a better job than fundamental managers at beating their benchmarks, according to Nomura (see graph below). However, in the last couple of years, quant strategies have been underperforming and experiencing a two-year-long so called “quant winter.” There are various reasons for the underperformance. Most notably, the correlations
- [Julex Capital Awarded Top Guns Designation by  Informa Financial Intelligence for Q3 2020](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-for-q3-2020/) - WELLESLEY, MA – November 18, 2020 - Julex Capital Management, LLC., has been awarded a "Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, for Q3 2020. TrueAlpha™ Small Cap PSN "TOP GUNS" RATING for One-Year Performance in the Small Cap Value Universe Dynamic Income PSN
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence for Q4 2020](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-for-q4-2020/) - WELLESLEY, MA – February 26, 2021 - Julex Capital Management, LLC., has been awarded a "Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, for Q4 2020. Dynamic IncomePSN "TOP GUNS" RATINGFor Q4 Performancein the Core Fixed, ETF US Fixed Income and Intermediate Core Fixed Income
- [Real Estate: Opportunity for Income and Inflation Hedge](https://www.julexcapital.com/real-estate-opportunity-for-income-and-inflation-hedge/) - Two of the major concerns investors have today are inflation and interest rates. With short-term rates so close to zero, many income-focused investors have found it challenging to generate enough income to meet their investment goals. Taking on duration risk to increase their yield is especially undesirable as bonds will lose value when interest rates
- [Federal Reserve Policy Tools And Their Impacts On The Yield Curve](https://www.julexcapital.com/federal-reserve-policy-tools-and-their-impacts-on-the-yield-curve/) - When Congress amended the Federal Reserve Act in 1977, it provided the Fed with their so-called “dual mandate”: promote price stability and ensure maximum employment. To achieve these aims, the Fed primarily influences the Fed Funds Rate (FFR), the rate that banks charge each other for overnight loans. While the metric that the Fed targets
- [Option Overlays: An Alternative Method For Yield](https://www.julexcapital.com/option-overlays-an-alternative-method-for-yield/) - With rates having been so low for so long, savers have been hurt by the lack of available safe income in the market. Conventional wisdom says that these savers will either be pushed into risker assets or forced to take the historically low interest rates offered by low-risk debt. A more novel solution is also
- [Julex Capital Awarded Top Guns Designation by Informa Financial Intelligence in Q1 2021](https://www.julexcapital.com/julex-capital-awarded-top-guns-designation-by-informa-financial-intelligence-in-q1-2021/) - WELLESLEY, MA – May 21, 2021 – Julex Capital Management, LLC., has been awarded a “Top Guns” distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers, in Q1 2021. TrueAlpha™ Small Cap PSN “TOP GUNS” RATING and BULL/BEAR MASTERS for Three-Year Performance in the Small Cap Value Universe
- [The Optimal Tradeoff Between Diversification and Outperformance](https://www.julexcapital.com/the-optimal-tradeoff-between-diversification-and-outperformance/) - Warren Buffet once said that, “diversification is protection against ignorance”. Of course, the other side is true as well: strategies that aren’t adequately diversified run a substantially higher risk of ruin. The goal of this paper is to find a useful approximation for portfolio size that a. increases the potential for alpha (return over benchmark)
- [Julex TrueAlpha Small Cap Is Ranked Five Star By Morningstar](https://www.julexcapital.com/julex-capital-truealpha-small-cap-is-ranked-five-star-by-morningstar/) - WELLESLEY, MA – May 17, 2021 - Julex Capital Management, LLC., has announced that its quantitative TrueAlpha™ Small Cap strategy is ranked Five Star for its three-year record in the Small Cap Blend category. "We are pleased that our strong performance has been recognized by Morningstar," says Dr. Henry Ma, CFA, President and Chief Investment
- [How Biden’s Economic Plans Impact Stock Markets](https://www.julexcapital.com/how-bidens-economic-plans-impact-stock-markets/) - President-elect Biden will officially take office on January 20th. With both congress and presidency under the control of the Democrats, the COVID relief measures and economic policies are expected to change significantly. It will be interesting to explore the implications of the potential changes on stocks markets. COVID Relief Measures Biden plans to pass another
- [Weekly Market Recap - February 5, 2021](https://www.julexcapital.com/weekly-market-recap-february-5-2021/) - February 1st, 2021 Stocks performed relatively strongly today. The Dow gained 230 points or 0.8%, putting it back in the 30,000 range. The S&P 500 gained 1.46% and Nasdaq gained 2.18%. Gamestop fell 21.32% after rising over 400% the previous week as Redditors turned their attention to silver, which reached an 8 year high(CNBC, 2021).
- [Weekly Market Recap - January 29th](https://www.julexcapital.com/weekly-market-recap-january-29th/) - January 25th The Dow fell 1.19% to below 31,000, the S&P 500 fell 0.8%, and Nasdaq fell 0.93%. However, earlier today, Nasdaq had a record high, rising by 1.06% to 13,700. Losses in stock values for American Express(down 3.8%) and Intel(down 3.7%) dragged the market lower. Biden Plans to Increase Federal Spending on American Goods
- [Weekly Market Review - January 22nd](https://www.julexcapital.com/weekly-market-review-january-22nd/) - January 19th, 2021 US stocks have been pushing upwards today. The Dow rose 0.44% and S&P 500 rose 0.6%. Ten-year Treasury yields climbed back to 1.1% and the dollar weakened. Goldman Sachs and Bank of America shares slipped even after profits were reported to be strong. Janet Yellen’s Confirmation Hearing Janet Yellen is poised to
- [Weekly Market Review - January 15](https://www.julexcapital.com/weekly-market-review-january-15/) - January 11th, 2021 Stocks fell to start the week. The Dow dropped 0.4%, S&P 500 dropped 0.6%, and NASDAQ dropped 1.2%. Technology stocks were hit the hardest. Twitter dropped 7% during the first hour of trading and Facebook dropped 3% during the same time period. Trump is Removered from Twitter Many conservatives said the move
- [Weekly Market Review - January 8, 2021](https://www.julexcapital.com/weekly-market-review-january-8-2021/) - Monday US stocks fell on Monday, as investors hoped the rollout of the vaccines would help the economy regain ground in the long term. The Dow fell over 500 points, or 1.7%, the S&P 500 fell 1.83%, and Nasdaq fell 1.31%. Tesla stock rose 3%, as they had sold a record of 499,950 cars the
- [Weekly Market Review - August 23, 2020](https://www.julexcapital.com/weekly-market-review-august-23-2020/) - The US stock market was led by the tech companies to new highs last week. On August 18th, the S&P 500 reached a historic high of 3,395.06, surpassing its previous record of 3,393.52. After hitting a 52-week low on March 23rd, the S&P 500 has risen 54%. The gains were driven by major tech shares.
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q2 2020](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q2-2020/) - WELLESLEY, MA – August 21, 2020 - Julex Capital Management, LLC. announced today that its TrueAlpha™ Small Cap was awarded "Top Guns” designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q2 2020. TrueAlpha™ Small Cap Informa Investment Solution's PSN "TOP GUNS" Status for Q2 and One-Year Performance
- [Weekly Market Review - August 16, 2020](https://www.julexcapital.com/weekly-market-review-august-16-2020/) - Improved economic data drove the cyclical stocks higher. The initial jobless claims dropped below 1MM, first time since the start of lockdown. Retail sales rose 1.2% from last month. Industrial production grew 3.0% in July. Trump’s Executive Order on Relief Package Trump issued an executive order after talks with Pelosi and Schumer broke down. The
- [Weekly Market Review - August 9, 2020](https://www.julexcapital.com/weekly-market-review-august-9-2020/) - The stock market started the first week of August with a positive tone. The economy continues to recover from the pandemic-triggered recession. Both manufacturing and service sectors show robust rebound according to Institute of Supply Management. The second quarter GDP declined by a 33% annual rate, the worst since the Great Recession but in line
- [Weekly Market Review - August 2, 2020](https://www.julexcapital.com/weekly-market-review-august-2-2020/) - The US stock market was led higher by the tech companies last week. The four tech giants Amazon, Alphabet, Apple and Facebook all reported better-than-expected earnings results. Stock Market & Financial News On Monday, US stocks rose slightly when tech companies’ stocks outperformed. The Dow rose 86 points at midday, or 0.3%. Nasdaq Composite rose
- [Weekly Market Review - July 26, 2020](https://www.julexcapital.com/weekly-market-review-july-26-2020/) - The US stock market suffered the first negative week in four weeks amid volatile trading. The big tech companies led the decline. Escalating tensions with China, concerns about expensive valuations and uncertainties around the pandemic impacts on corporate profits rattled investors. On Tuesday, the Dow climbed 307 points, or 1.2%. The Nasdaq Composite dropped 0.5%.
- [Weekly Market Review - July 19, 2020](https://www.julexcapital.com/weekly-market-review-july-20-2020/) - The US stock market rose last week though the tech-heavy Nasdaq Index lost ground. There is optimism with the development of a vaccine despite the surges in COVID-19 cases in some states. Meanwhile, investors rotated out of tech amid valuation concerns and disappointed earnings report from Netflix. A volatile week for Telsa Tesla stock had
- [Weekly Market Review - July 12, 2020](https://www.julexcapital.com/weekly-market-review-july-12-2020/) - What Happened Last Week Technology stocks led the stock market higher last week. Nasdaq index soared to new all time highs. The so-called FANNG stocks all had significant gains: Netflix (15.1%), Amazon (10.7%), Apple (5.4%), Google (5.3%) and Facebook (4.99%). The rise of coronavirus cases pushed investors back to stay-at-home trades. On Monday, the Dow
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q4 2019](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q4-2019/) - WELLESLEY, MA – February 27, 2020 - Julex Capital Management, LLC., announced today that its Dynamic Income and Dynamic Developed Market were awarded "Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q4 2019. JULEX DYNAMIC INCOME Informa Investment Solution's PSN "TOP GUNS" Status for
- [Will the Stock Market Be Immune to Coronavirus?](https://www.julexcapital.com/will-the-stock-market-be-immune-to-coronavirus/) - The spread of China’s coronavirus is providing investors with another reason for caution. The S&P 500 Index gave up earlier gains and closed down by 0.9% on Friday last week as the CDC confirmed a second US case of the disease in Chicago. Over the weekend, the coronavirus cases continued to rise. There are 2,862
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q3 2019](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q3-2019/) - WELLESLEY, MA – November 22, 2019 - Julex Capital Management, LLC., announced today that its Dynamic Developed Market and TrueAlpha™ Small Cap were awarded "Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q3 2019. TRUEALPHA™ SMALL CAP Informa Investment Solution's PSN "TOP GUNS" Status
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q2 2019](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q2-2019/) - WELLESLEY, MA – August 22, 2019 - Julex Capital Management, LLC., announced today that its Dynamic Developed Market strategy was awarded "Top Guns” designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q2 2019. JULEX DYNAMIC DEVELOPED MARKET Informa Investment Solution's PSN "TOP GUNS" Status for the
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q1 2019](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q1-2019/) - WELLESLEY, MA – May 21, 2019 - Julex Capital Management, LLC., announced today that its Dynamic Sector and Dynamic Developed Market strategies were awarded "Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q1 2019. JULEX DYNAMIC SECTOR "TOP GUNS" Status for the Three-Year Performance
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q4 2018](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q4-2018/) - BOSTON, MA – February 19, 2018 – Julex Capital Management, LLC., announced today that its Dynamic Sector and Dynamic Developed Market strategies were awarded “Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q4 2018. JULEX DYNAMIC SECTOR Informa Investment Solution’s PSN “TOP GUNS” Status
- [Market Review - January 2019](https://www.julexcapital.com/market-review-january-2019/) - The US equity market rebounded from December’s selloff, marking the best January in thirty years and the best monthly return since October 2015. More dovish Fed talk, solid economic data and better-than-expected earnings drove the market optimism despite uncertainties about the trade talks with China and slower global economic growth. The Federal Reserve decided to
- [Market Review  - December 2018](https://www.julexcapital.com/market-review-december-2018/) - The US equity market had the worst December since 1931. Uncertainties about the trade war, fears of slow global economic growth, unexpected hawkish Fed statements and a partial government shutdown unsettled investors’ appetite for risk. Investors rushed to safe assets. International stocks struggled as well. In its December meeting, the Fed raised interest rates by
- [Market Review - November 2018](https://www.julexcapital.com/market-review-november-2018/) - Despite the heightened volatility, equity markets ended November with a positive tone. Hope for the ease of trade tensions, more dovish view from the Fed and unsurprising mid-term election results all lifted the investors’ sentiments in the US. Globally, positive developments in easing trade tensions helped rally the EM equities, but uncertainties surrounding Brexit created
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q3 2018](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q3-2018/) - BOSTON, MA – November 19, 2018 - Julex Capital Management, LLC., announced today that its Dynamic Sector, Dynamic Income and Dynamic Developed Market strategies were awarded "Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q3 2018. JULEX DYNAMIC SECTOR Informa Investment Solution's PSN
- [Market Review -  October 2018](https://www.julexcapital.com/market-commentary-october-2018/) - The equity markets had a tough month in October. Several factors were blamed for the selloff. Quick interest rate increase. The U.S. 10-year government bond yield surged to 3.25%, in early October, the highest since 2011. Higher interest rates could potentially have negative effects on growth and valuation, hurting the high fliers like growth/tech companies
- [Market Commentary - Third Quarter, 2018](https://www.julexcapital.com/market-commentary-third-quarter-2018/) - The third quarter was more or less the continuation of the second quarter in terms of economic and market performance. Solid economic growth and strong corporate earnings drove US stocks higher. However, trade tensions and rising interest rates generated significant headwinds. International equities, including both developed markets and emerging markets, underperformed the US equities. EM
- [Julex Capital Named Top Guns Manager by Informa Investment Solutions for Q2 2018](https://www.julexcapital.com/julex-capital-named-top-guns-manager-by-informa-investment-solutions-for-q2-2018/) - BOSTON, MA – August 20, 2018 - Julex Capital Management, LLC., announced today that its Dynamic Sector, Dynamic Income and Dynamic Developed Market strategies were awarded "Top Guns” designations by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q2 2018. JULEX DYNAMIC SECTOR Informa Investment Solution's PSN "TOP
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions for Q1 2018](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-for-q1-2018/) - BOSTON, MA – May 16, 2018 – Julex Capital Management, LLC. announced today that its Dynamic Sector strategy was recognized with “Top Guns” designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q1 2018. JULEX DYNAMIC SECTOR Informa Investment Solution’s PSN “TOP GUNS” Status for One-Year Performance
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions for Q4 2017](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-for-q4-2017/) - BOSTON, MA – February 26, 2018 - Julex Capital Management, LLC., announced today that its Dynamic Income, Dynamic Sector and Dynamic Emerging Market strategies were recognized with "Top Guns" status within the Informa Investment Solutions' PSN investment manager database for Q4 2017. JULEX DYNAMIC INCOME Informa Investment Solution's PSN "TOP GUNS" Status for Recent-Quarter, One-Year
- [JULEX WEEKLY REVIEW 10-07-2012: Markets Rose on Better than Expected Economic News](https://www.julexcapital.com/markets-rose-on-better-than-expected-economic-news/) - Top Stories Last Week Markets Rose on Better than Expected Economic News Global equity markets rose in the first week of October as economic news released in the US were better than economists’ expectation. The Standard & Poor’s 500 Index gained 1.5%, MSCI EAFE index rallied by 2.2% and MSCI emerging market index rose by
- [JULEX WEEKLY REVIEW 10-14-2012: Equity Markets Dropped on Uncertainties over Potential Spanish Bailout](https://www.julexcapital.com/equity-markets-dropped-on-uncertainties-over-potential-spanish-bailout/) - Top Stories Last Week Equity Markets Dropped on Uncertainties Over Potential Spanish Bailout The uncertainties over Spain weighed on the financial markets, dragging global stocks lower for the week. The Standard & Poor’s 500 Index lost 2.2%, MSCI EAFE index dropped by 1.8% and MSCI emerging market index declined by 1.6%. Gold was down by
- [JULEX WEEKLY REVIEW 10-21-2012 | Equity Markets Held on to Gains despite Friday’s Drops](https://www.julexcapital.com/julex-weekly-market-review-10-21-2012-equity-markets-held-on-to-gains-despite-fridays-drops/) - Top Stories Last Week Equity Markets Held On to Gains despite Friday’s Drops Equity markets tanked on Friday, the 25th anniversary of the “Black Monday” in 1987, led by weak earnings reports from GE and McDonald’s and negative outlook from tech giants Google and Microsoft. On the week, Standard & Poor’s 500 Index was up
- [JULEX WEEKLY REVIEW 10-28-2012 | Disappointed Earnings Reports Drove Equity Markets Lower](https://www.julexcapital.com/julex-weekly-review-10-28-2012-disappointed-earnings-reports-drove-equity-markets-lower/) - Top Stories Last Week Disappointed Earnings Reports Drove Equity Markets Lower Equity markets declined on disappointed earnings and revenue forecasts from Apple to Caterpillar. On the week, Standard & Poor’s 500 Index was down -1.4%, MSCI EAFE index lost 1.0% and MSCI emerging market index dropped by 0.6%. Gold lost its lust, down by 0.6%
- [JULEX WEEKLY REVIEW 11-04-2012 | Global Equity Markets were Little Changed](https://www.julexcapital.com/julex-weekly-review-global-equity-markets-were-little-changed/) - Top Stories Last Week Global Equity Markets were Little Changed Equity markets were little changed as Hurricane Sandy forced the NYSE to close for two days. On the week, Standard & Poor’s 500 Index was up 0.1%, MSCI EAFE index gained 0.1% and MSCI emerging market index rose by 0.6%. Gold continued its decline, down
- [JULEX WEEKLY REVIEW 11-11-2012 | Equity Markets Declined on Concerns about Fiscal Cliff](https://www.julexcapital.com/julex-weekly-review-11-11-2012-equity-markets-declined-on-concerns-about-fiscal-cliff/) - Top Stories Last Week Equity Markets Declined on Concerns about Fiscal Cliff Equity markets declined after the US election as markets shifted attention to the upcoming fiscal cliff and European debt crisis. On the week, Standard & Poor’s 500 Index was down 2.4%, MSCI EAFE index lost 2.2% and MSCI emerging market index declined by
- [JULEX WEEKLY REVIEW 11-18-2012 | Equity Markets Continued to Slump on Uncertainties on Fiscal Cliff and Middle East Tension](https://www.julexcapital.com/julex-weekly-review-11-18-2012-equity-markets-continued-to-slump-on-uncertainties-on-fiscal-cliff-and-middle-east-tension/) - Top Stories Last Week Equity Markets Continued to Slump on Uncertainties on Fiscal Cliff, Global Economies and Middle East Tension Equity markets recovered on Friday from three-month lows on some hopes about fiscal cliff, but fell for the week amid Middle East tension and growing concern on global economic growth. Standard & Poor’s 500 Index
- [JULEX WEEKLY REVIEW 11-25-2012 | Markets Rallied on Easing of Middle East Tension and Hope for a Resolution of Fiscal Cliff](https://www.julexcapital.com/julex-weekly-review-11-25-2012-markets-rallied-on-easing-of-middle-east-tension-and-hope-for-a-resolution-of-fiscal-cliff/) - Top Stories Last Week Markets Rallied on Easing of Middle East Tension and Hope for a Resolution of “Fiscal Cliff” The stock markets enjoyed some Black Friday cheer, rising sharply as consumers rushed to start the holiday shopping season. Major stock indexes closed one of their best weeks of the year. Investors were encouraged by
- [JULEX WEEKLY REVIEW 12-02-2012 | Stock Markets Rose for a Second Week](https://www.julexcapital.com/julex-weekly-review-12-02-2012-stock-markets-rose-for-a-second-week/) - Top Stories Last Week Stock Markets Rose for a Second Week Stock markets rose slightly for a second week amid uncertainties on fiscal cliff negotiations. Investors were cautiously optimistic about a possible resolution by the end of the year. Standard & Poor’s 500 Index rose 0.6%, MSCI EAFE index was up 1.0% and MSCI emerging
- [JULEX WEEKLY REVIEW 12-09-2012 | US Stocks Were Flat while EM Stocks Rallied](https://www.julexcapital.com/julex-weekly-review-12-09-2012-us-stocks-were-flat-while-em-stocks-rallied/) - Top Stories Last Week US Stocks Were Flat while EM Stocks Rallied U.S. stocks were essentially flat for the week, as unremarkable economic data combined with worries about the fiscal cliff to sap investor enthusiasm. Early in the week, news on Chinese Manufacturing rebound drove the emerging market stocks higher. Standard & Poor’s 500 Index
- [JULEX WEEKLY REVIEW 12-16-2012 | US Stocks Declined Slightly while International Stocks Gained](https://www.julexcapital.com/julex-weekly-review-12-16-2012-us-stocks-declined-slightly-while-international-stocks-gained/) - Top Stories Last Week US Stocks Declined Slightly while International Stocks Gained U.S. stocks declined slightly, as worries about the fiscal cliff continued to sap investor enthusiasm. Fed’s QE4 could not boost the US stocks. However, the stocks in both developed and emerging market stocks moved higher as the economic news there became more positive.
- [JULEX WEEKLY REVIEW 12-16-2012 | Global Stocks Gained on Optimism about US Fiscal Deal and Economic Outlook](https://www.julexcapital.com/julex-weekly-review-12-16-2012-global-stocks-gained-on-optimism-about-us-fiscal-deal-and-economic-outlook/) - Top Stories Last Week Global Stocks Gained on Optimism about US Fiscal Deal and Economic Outlook Global stocks edged higher this week, lifted by optimism that a deal to avert the so-called fiscal cliff would be struck. Positive US housing data also helped move the markets higher. However, the stocks lost some momentum on Friday
- [Dynamic Focus](https://www.julexcapital.com/dynamic-focus/) - The Dynamic Focus strategy is a multi asset class strategy that seeks to achieve better returns than equity markets with lower volatility and lower peak-to-trough drawdowns. The multi asset class strategy can include ETF, ETN, or index fund investments in U.S. and international developed market stocks and bonds, as well as gold, energy, commodities, emerging
- [Dynamic Emerging Markets](https://www.julexcapital.com/dynamic-emerging-markets/) - The Dynamic Emerging Market strategy is an emerging market strategy that seeks to achieve better returns than the MSCI Emerging Market index with lower volatility and lower peak-to-trough drawdowns. The strategy rotates between the countries, regions and styles in the emerging markets and bonds. It is a flexible strategy that will include allocations that can
- [Dynamic Income](https://www.julexcapital.com/dynamic-income/) - The Dynamic Income strategy is a multi asset class strategy that seeks to offer both higher income and capital preservation. It aims to achieve better returns than the Barclay’s Aggregate U.S. Bond Index with comparable volatility and lower peak-to-trough drawdowns. The multi asset class strategy can include ETF, ETN, or index fund investments in income-producing
- [Dynamic Sector](https://www.julexcapital.com/dynamic-sector/) - The Dynamic Sector Strategy is a strategy that seeks to minimize downside risk while maximizing upside potentials by tactically positioning the US equity sectors with the flexibility of moving to bonds and cash completely. It aims to outperform DJ US Moderate Index and the S&P 500 Index with lower volatility and lower peak-to-trough drawdowns in
- [Dynamic Diversified](https://www.julexcapital.com/dynamic-diversified/) - The Dynamic Diversified Strategy strategy invests equally in the Dynamic Multi-Asset, Dynamic Factor, Dynamic Emerging Markets and Dynamic Income strategies. It aims to outperform the aggregate hedge fund index with a lower correlation with traditional asset classes. Its investment universe includes US equities and bonds, international equities, emerging market equities and bonds, real estates and
- [Dynamic Aggressive](https://www.julexcapital.com/dynamic-aggressive/) - The Dynamic Aggressive Strategy is a dynamic asset allocation strategy designed to provide enhanced return, reduced volatility, and reduced peak-to-trough drawdown compared to naïve buy-and-hold strategies. The portfolio has a long term strategic risk target comparable with a portfolio of 80% equity and 20% fixed income. The strategy may be appropriate for investors who have
- [Dynamic Moderate](https://www.julexcapital.com/dynamic-moderate/) - The Dynamic Moderate Strategy is a dynamic asset allocation strategy designed to provide enhanced return, reduced volatility, and reduced peak-to-trough drawdown compared to naïve buy-and-hold strategies. The portfolio has a long term strategic risk target comparable with a portfolio of 60% equity and 40% fixed income. The strategy may be appropriate for investors who have
- [Dynamic Conservative](https://www.julexcapital.com/dynamic-conservative/) - The Dynamic Conservative Strategy is a dynamic asset allocation strategy designed to provide enhanced return, reduced volatility, and reduced peak-to-trough drawdown compared to naïve buy-and-hold strategies. The portfolio has a long term strategic risk target comparable with a portfolio of 40% equity and 60% fixed income. The strategy may be appropriate for investors who have
- [Dynamic Defensive](https://www.julexcapital.com/dynamic-defensive/) - The Dynamic Defensive Strategy is a dynamic asset allocation strategy designed to provide enhanced return, reduced volatility, and reduced peak-to-trough drawdown compared to naïve buy-and-hold strategies. The portfolio has a long term strategic risk target comparable with a portfolio of 20% equity and 80% fixed income. The strategy may be appropriate for investors who have
- [Product Summary](https://www.julexcapital.com/product-summary/) - Dynamic Alpha Products Julex offers four main model products: Dynamic Focus, Dynamic Income, Dynamic Factor, and Dynamic Emerging Market. Financial advisors, RIAs, individuals, and institutional clients will typically choose one of the four portfolio strategies, or combination of strategies, depending upon the investment objectives, risk tolerance, and other factors they are trying to meet. Clients of Julex
- [JULEX MARKET WEEKLY 12-30-2012 | US Stocks Declined on Concern about US Fiscal Cliff While Emerging Market Stocks Rallied](https://www.julexcapital.com/julex-market-weekly-12-30-2012-us-stocks-declined-on-concern-about-us-fiscal-cliff-while-emerging-market-stocks-rallied/) - Top Stories Last Week US Stocks Declined on Concern about US Fiscal Cliff While Emerging Market Stocks Rallied US stock markets dropped last week as the politicians in Washington could not reach a deal to avert fiscal cliff by the year end. However, the stocks in emerging market stocks continued their six-week winning streak as
- [JULEX MARKET WEEKLY 01-06-2013|Global Stocks Kicked off a Good Start in the New Year as Fiscal Cliff was Averted](https://www.julexcapital.com/global-stocks-kicked-off-a-good-start-in-the-new-year-as-fiscal-cliff-was-averted/) - Top Stories Last Week Global Stocks Kicked Off a Good Start in the New Year as Fiscal Cliff was Averted Global stock markets soared last week as the politicians in Washington reached a deal to avert “fiscal cliff”. Standard & Poor’s 500 Index jumped 4.5%, MSCI EAFE index rallied 2.6% while MSCI emerging market index
- [JULEX MARKET WEEKLY 01-13-2013 | US Stocks Rose Slightly Last Week](https://www.julexcapital.com/julex-market-weekly-01-13-2013-us-stocks-rose-slightly-last-week/) - Top Stories Last Week US Stocks Rose Slightly Last Week U.S. stocks advanced on the week, buoyed by data, decent earnings, and enduring positive sentiment from the resolution of the fiscal cliff debate. Standard & Poor’s 500 Index jumped 0.5%, MSCI EAFE index gained 1.0% while MSCI emerging market index lost 1.0%. Gold gained 0.4%
- [JULEX MARKET WEEKLY 01-20-2013 | Stocks Ended the Week with Moderate Gains](https://www.julexcapital.com/julex-weekly-review-01-20-2013-stocks-ended-the-week-with-moderate-gains/) - Top Stories Last Week • Stocks Ended the Week with Moderate Gains U.S. stocks ended the week with moderate gains as earnings and economic data globally gave investors reason for hope the market's recent rallies can last. Standard & Poor's 500 Index climbed 0.9%, MSCI EAFE index gained 0.2%, and MSCI emerging market index gained
- [JULEX MARKET WEEKLY 01-27-2013 | Stocks Climbed Again Last Week](https://www.julexcapital.com/julex-market-weekly-stocks-climbed-again-last-week/) - Top Stories Last Week • Stocks Climbed Again Last Week U.S. stocks climbed for the week, driven by rising corporate earnings, which investors may believe are setting the stage for further market gains. Standard & Poor's 500 Index climbed 1.3%, MSCI EAFE index gained 1.5%, while MSCI emerging market index lost 1.3%. Gold declined by
- [JULEX MARKET WEEKLY 02-03-2013 | The US Equity Markets Scored the Best January Gains in 15 Years](https://www.julexcapital.com/julex-market-weekly-02-03-2013-the-us-equity-markets-scored-the-best-january-gains-in-15-years/) - Top Stories Last Week • The US Equity Markets Scored the Best January Gains in 15 Years U.S. stocks continued rising for the week, driven by solid corporate earnings and economic news. Standard & Poor's 500 Index climbed 0.7% and 5.2% in January, the best percentage January gain in 15 years. MSCI EAFE index gained
- [JULEX MARKET WEEKLY 02-10-2013 | S&P 500 Index Rose the Sixth Week in a Row](https://www.julexcapital.com/julex-market-weekly-02-10-2013-sp-500-index-rose-the-sixth-week-in-a-row/) - Top Stories Last Week • S&P 500 Index Rose the Sixth Week in a Row The Standard & Poor’s 500 Index, the broad benchmark for U.S. stocks, rose 0.4%, the sixth week of rally in a row. However, MSCI EAFE index lost 1.5% and MSCI Emerging Market Index was down by 1.3%. Gold was up
- [Julex Market Review 02-17-2013 | S&P 500 Index Rose the Seventh Week in a Row](https://www.julexcapital.com/julex-market-review-02-17-2013-sp-500-index-rose-the-seventh-week-in-a-row/) - Top Stories Last Week • S&P 500 Index Rose the Seventh Week in a Row U.S. stocks were slightly higher on the week. The economic news was mixed, giving investors a reason to take a break from buying spree. S&P 500 Index rose slightly by 0.2%, while MSCI EAFE index lost 0.2% and MSCI Emerging
- [Dynamic Real Asset](https://www.julexcapital.com/dynamic-real-asset/) - The Dynamic Real Asset Strategy is a multi asset class strategy that seeks to achieve better returns than the Barclay’s Aggregate U.S. Treasury Inflation Protection Securities Index with comparable volatility and peak-to-trough drawdowns. The multi asset class strategy can include ETF, ETN, or index fund investments in real asset classes including material and energy equities, real estates, MLPs, commodities, gold and U.S. Treasury
- [Julex Market Weekly 02-24-2013 | Emerging Market Stocks and Commodities Declined as Oil Prices Dropped](https://www.julexcapital.com/julex-market-weekly-02-24-2013-emerging-market-stocks-and-commodities-declined-as-oil-prices-dropped/) - Top Stories Last Week • Emerging Market Stocks and Commodities Declined as Oil Prices Dropped Emerging market stocks dropped to seven-week low as a report signaled the euro-area’s economy contracted more than forecast and concern grew that the U.S. Federal Reserve may slow the pace of stimulus. Commodities tumbled as oil inventories were reported higher
- [Julex Market Weekly 03-03-2013 | US Stocks Moved Close to All-Time High](https://www.julexcapital.com/julex-market-weekly-03-03-2013-us-stocks-moved-close-to-all-time-high/) - Top Stories Last Week • US Stocks Moved Close to All-Time High U.S. stocks ended a week higher, lifted close to all-time highs as investors digested weak economic data from China and the euro zone, improving US economic news and the federal spending cuts known as the sequester. S&P 500 Index rose slightly by 0.1%,
- [Julex Market Weekly 03-10-2013 | Dow Jones Industrial Average Hit Record](https://www.julexcapital.com/julex-market-weekly-03-10-2013-dow-jones-industrial-average-hit-record/) - Top Stories Last Week • Dow Jones Industrial Average Hit Record The Dow Jones Industrial Average hit record closing levels four days in a row this week, rising above the high it set back in 2007, just before the financial crisis. The main drivers are solid corporate earnings and improving economic data. S&P 500 Index
- [Julex Market Weekly 03-17-2013 | US Stocks Ended the Week Higher While Emerging Markets Tumbled](https://www.julexcapital.com/julex-market-weekly-us-stocks-ended-the-week-higher-while-emerging-markets-tumbled/) - Top Stories Last Week • US Stocks Ended the Week Higher While Emerging Markets Tumbled The US stock ended the week higher on the stronger retail sales and improving initial jobless claim data. However, the emerging markets closed lower as weaker industrial production growth in China concerned investors. The S&P 500 Index rose by 0.7%,
- [Julex Market Weekly 03-24-2013 | US Stocks Ended the Week Lower and Emerging Markets Continued to Slump](https://www.julexcapital.com/julex-market-weekly-03-24-2013-us-stocks-ended-the-week-lower-and-emerging-markets-continued-to-slump/) - Top Stories Last Week • US Stocks Ended the Week Lower and Emerging Markets Continued to Slump The US and emerging market stocks ended the week lower on the uncertainty about the Cyprus bailout negotiation. The S&P 500 Index dropped by 0.1%, and MSCI EAFE index declined 0.9%. The MSCI Emerging Market Index continued to
- [Julex Market Weekly 03-31-2013 | S&P 500 Index Hit a Record High](https://www.julexcapital.com/julex-market-weekly-03-31-2013-sp-500-index-hit-a-record-high/) - Top Stories Last Week • S&P 500 Index Hit a Record High During a shortened trading week, the S&P 500 Index, which is probably the most closely followed, broad index of US equities hit a record. Eclipsing a five-year-old high by four points, the S&P 500 (SPX) closed on Thursday at 1569.19. The S&P index
- [Julex Market Weekly 04-07-2013 | S&P 500 Had Worse Week in 2013](https://www.julexcapital.com/julex-market-weekly-04-07-2013-sp-500-had-worse-week-in-2013/) - Top Stories Last Week • S&P 500 Had Worse Week in 2013 U.S. stocks ended the week with a thud, after the nonfarm payrolls report showed much slower growth in jobs than what investors expected. With Friday's move down, the S&P 500 closed out their weakest week of the year. The S&P index fell by
- [Julex Market Weekly 04-21-2013 | Global Stocks Ended Lower for the Week](https://www.julexcapital.com/julex-market-weekly-04-21-2013-global-stocks-ended-lower-for-the-week/) - Top Stories Last Week • Global Stocks Ended Lower Global stocked ended the week lower amid the terrorists’ attack on Boston Marathon. S&P index fell by 2.1%, and MSCI EAFE index tumbled 2.2%. The MSCI Emerging Market Index dropped 0.3%. Gold price tumbled by 6%. The SPGC commodity index slumped 2.3% as oil prices continued
- [Julex Market Weekly 04-28-2013 | Global Markets Rallied for the Week](https://www.julexcapital.com/julex-market-weekly-global-markets-rallied-for-the-week/) - Top Stories Last Week • Global Markets Rallied for the Week All asset classes across the globe rose last week, as solid corporate earnings and data that showed the U.S. economy is still on its slow, unimpressive path of growth. S&P index was up by 1.8%, and MSCI EAFE index rallied 3.4%. The MSCI Emerging
- [Julex Market Weekly 05-05-2013 | US Stocks Rose to Record Highs](https://www.julexcapital.com/julex-market-weekly-05-05-2013-us-stocks-rose-to-record-highs/) - Top Stories Last Week • US Stocks Rose to Record Highs U.S. stocks rose last week to end at record highs following solid corporate earnings and better-than-expected job gains in April. S&P index was up by 2.0%, and MSCI EAFE index rallied 2.0%. The MSCI Emerging Market Index rose 2.9%. Gold price continued to increase
- [Julex Market Weekly 05-12-2013 | US Stocks Ended the Week at  Record Levels Again](https://www.julexcapital.com/julex-market-weekly-05-12-2013-us-stocks-ended-the-week-at-record-levels-again/) - Top Stories Last Week • US Stocks Ended the Week at Record Levels Again U.S. stocks ended the week at record levels again. The bull markets continued as more and more retail investors jumped to the bandwagon, buying stocks. S&P index was up by 0.9%, and MSCI EAFE index increased 0.1%. The MSCI Emerging Market
- [Julex Market Weekly 05-19-2013 | US Stocks Set Records Again](https://www.julexcapital.com/julex-market-weekly-us-stocks-set-records-again/) - Top Stories Last Week • US Stocks Set Records Again U.S. stocks rose for the week, setting a few record highs along the way. It was another week of gains even the economic data during the week was a mixed bag, with retail sales and consumer sentiment exceeding expectations and initial jobless claims worse than
- [Julex Market Weekly 05-26-2013 | US Stocks Declined From Record Highs](https://www.julexcapital.com/julex-market-weekly-05-26-2013-us-stocks-declined-from-record-highs/) - Top Stories Last Week • US Stocks Declined From Record Highs Volatility came back to the stock markets last week. Bernanke’s testimony and data showing China’s manufacturing sector contracted, sent the shares in global plummeting. Japan’s Nikkei sank 7.3% before recovering later. In the week, S&P index dropped 1%, and MSCI EAFE index declined 2.5%.
- [Julex Market Weekly 06-02-2013 | US Stocks Declined for Another Week](https://www.julexcapital.com/julex-market-weekly-06-02-2013-us-stocks-declined-for-another-week/) - Top Stories Last Week • US Stocks Declined for Another Week U.S. stock markets declined this week, but still finished the month with healthy gains. Treasury yields surged to the highest levels in more than a year, after a strong housing report fuelled fears that an improving economy could push the Fed to taper its
- [Julex Market Weekly 06-09-2013 | US Stocks Rose the First Time in Three Weeks](https://www.julexcapital.com/julex-market-weekly-06-09-2013-us-stocks-rose-the-first-time-in-three-weeks/) - Top Stories Last Week • US Stocks Rose the First Time in Three Weeks U.S. stock markets rose this week, the first time in three weeks. On Friday, stocks rose after a solid payrolls report cheered investors by suggesting that economic growth is strong enough to sustain relatively healthy job increases but not so strong
- [Julex Market Weekly 06-16-2013 | Global Stocks Dropped as Bank of Japan Disappointed Investors](https://www.julexcapital.com/julex-market-weekly-06-16-2013-global-stocks-dropped-as-bank-of-japan-disappointed-investors/) - Top Stories Last Week • Global Stocks Dropped as Bank of Japan Disappointed Investors Global stock markets lost ground last week as Bank of Japan refrained from taking further easing measures, disappointing investors. In the week, S&P index dropped 1.0%, and MSCI EAFE index declined 0.5%. The MSCI Emerging Market Index tumbled by 3.2% as
- [Julex Market Weekly 06-23-2013 | Global Stocks Dropped as Fed May Taper QE](https://www.julexcapital.com/julex-market-weekly-06-23-2013-global-stocks-dropped-as-fed-may-taper-qe/) - Top Stories Last Week • Global Stocks Dropped as Fed May Taper QE Global financial markets fell for the week, battered by the comments from Federal Reserve Chairman Ben Bernanke about the possibility that the central bank might reduce the stimulus this year. In the week, S&P index dropped 2.0%, and MSCI EAFE index declined
- [Julex Market Weekly 06-30-2013 | US Stocks Ended the Best Second Quarter Since 2009](https://www.julexcapital.com/julex-market-weekly-06-30-2013-us-stocks-ended-the-best-second-quarter-since-2009/) - Top Stories Last Week • US Stocks Ended the Best Second Quarter Since 2009 The US stock market ended its best second quarter since 2009, with the S&P 500 Index rising 2.36%. The rate on a 30-year fixed mortgage posted a biggest weekly increase in 25 years. The average rate rose 53 basis points to
- [Julex Market Weekly 07-07-2013 | US Stocks Rallied as Bond Rout Continued](https://www.julexcapital.com/julex-market-weekly-07-07-2013-us-stocks-rallied-as-bond-rout-continued/) - Top Stories Last Week • US Stocks Rallied as Bond Rout Continued The US stocks rallied as employers added 195K jobs in June, better than expected, signaling the US economic growth is gaining momentum. In the week, S&P index rose 1.6%, and MSCI EAFE index climbed 0.9%. However, the MSCI Emerging Market Index tumbled by
- [Julex Market Weekly 07-14-2013 | US Stocks Reached New Record](https://www.julexcapital.com/julex-market-weekly-07-14-2013-us-stocks-reached-new-record/) - Top Stories Last Week • US Stocks Reached New Record US stocks reached new record after Fed Chairman Bernanke’s comments on monetary policy in NBER meeting. He explained that even if the Fed slows down purchases of bonds, it will keep interest rates low for a long time. In the week, S&P index rose 2.8%,
- [Dynamic Multi-Asset](https://www.julexcapital.com/dynamic-multi-asset/) - The Dynamic Multi-Asset strategy is a multi asset class strategy that seeks to achieve better returns than a moderate asset allocation portfolio with lower volatility and lower peak-to-trough drawdowns. The multi asset class strategy can include ETF, ETN, or index fund investments in U.S. and international developed market stocks and bonds, as well as gold,
- [Julex Market Weekly 07-21-2013 | US Stocks Reached Fresh Records](https://www.julexcapital.com/us-stocks-reached-fresh-records/) - Top Stories Last Week • US Stocks Reached Fresh Records US stocks continued to move higher, reaching fresh records, amid strong bank earnings and a reassuring Bernanke’s testimony before Congress. In the week, S&P index rose 1.0 %, and MSCI EAFE index climbed 1.4%. The MSCI Emerging Market Index rallied by 0.9%. Gold continued to
- [Julex Market Weekly 07-28-2013 | US Markets Remained Flat as Investors Became Cautious](https://www.julexcapital.com/julex-market-weekly-07-28-2013-us-markets-remained-flat-as-investors-became-cautious/) - Top Stories Last Week • US Markets Remained Flat as Investors Became Cautious US stocks were flat after they reached new record highs last week, as investors were cautiously waiting for more significant economic news, scheduled to be released this week. In the week, S&P index was flat, and MSCI EAFE index climbed 0.2%. The
- [Julex Market Weekly 08-03-2013 | US Markets Rallied to New Records in a News-Heavy Week](https://www.julexcapital.com/julex-market-weekly-08-03-2013-rallied-to-new-records-in-a-news-heavy-week/) - Top Stories Last Week • US Markets Rallied to New Records in a News-Heavy Week US stock markets rallied to new records in a news-heavy week. Fed remained dovish and labor markets continued to show slow improvements. In the week, S&P index rose 1.0%, and MSCI EAFE index climbed 1.4%. However, the MSCI Emerging Market
- [Julex Market Weekly 08-11-2013 | US Stock Markets Declined after Reaching New Records Last Week](https://www.julexcapital.com/julex-market-weekly-08-11-2013-us-stock-markets-declined-after-reaching-new-records-last-week/) - Top Stories Last Week • US Stock Markets Declined after Reaching New Records Last Week US stock markets declined after reaching new records without much new release of economic data. In the week, S&P index declined 1.0%, while MSCI EAFE index climbed 0.3%. However, the MSCI Emerging Market Index was lost 0.6%. Gold was up
- [Julex Market Weekly 08-18-2013 | US Stock Markets Suffered the Worse Weekly Drop in A Year](https://www.julexcapital.com/julex-market-weekly-08-18-2013-us-stock-markets-suffered-the-worse-weekly-drop-in-a-year/) - Top Stories Last Week • US Stock Markets Suffered the Worse Weekly Drop in A Year US equities suffered the worse weekly drop in a year, amid disappointed forecasts from Walmart and Cisco and fears of Fed tapering as rosier economic data may force the Fed to remove its monthly asset purchases soon. In the
- [Julex Market Weekly 08-25-2013 | US Stock Markets Rose For the Week Despite Technological Breakdown in Nasdaq](https://www.julexcapital.com/julex-market-weekly-08-25-2013-us-stock-markets-rose-for-the-week-despite-technological-breakdown-in-nasdaq/) - Top Stories Last Week • US Stock Markets Rose For the Week Despite the Technological Breakdown in Nasdaq US stocks rose for the week despite the technology breakdown in Nasdaq. In the week, S&P index rose 0.5%, while MSCI EAFE index dropped 0.2%. The MSCI Emerging Market Index tumbled 1.6%. However, gold continued to rally
- [Julex Market Weekly 09-01-2013 | Global Stocks Fell Sharply amid Concerns about a Possible US Military Strike on Syria](https://www.julexcapital.com/julex-market-weekly-09-01-2013-global-stocks-fell-sharply-amid-concerns-about-a-possible-us-military-strike-on-syria/) - Top Stories Last Week • Global Stocks Fell Sharply amid Concerns about a Possible US Military Strike on Syria The markets reacted sharply to heated rhetoric about the Syrian government's alleged use of chemical weapons in an attack last week, with concerns about a possible U.S. military strike rippling across asset classes. Stocks were slammed,
- [Julex Market Weekly 09-08-2013 | Global Stocks Rallied amid Upbeat Economic Reports](https://www.julexcapital.com/julex-market-weekly-09-08-2013-global-stocks-rallied-amid-upbeat-economic-reports/) - Top Stories Last Week • Global Stocks Rallied amid Upbeat Economic Reports World stock markets started September with a bang after upbeat economic reports in Europe and China buoyed investor confidence and US job report may keep the Fed from tapering in September. In the week, S&P index rose 1.5%, while MSCI EAFE index rallied
- [Julex Market Weekly 09-15-2013 | Global Stocks Rallies Continued as Tension on Syria Eased](https://www.julexcapital.com/julex-market-weekly-09-15-2013-global-stocks-rallies-continued-as-tension-on-syria-eased/) - Top Stories Last Week • Global Stocks Rallies Continued as Tension on Syria Eased World stock markets rallies continued as Syria crisis faded and economic reports from China buoyed investor confidence on Chinese economic rebound. In the week, S&P index rose 2.0%, and MSCI EAFE index rallied 2.8%. The MSCI Emerging Market Index advanced 3.3%.
- [Julex Market Weekly 09-22-2013 | No Taper Yet](https://www.julexcapital.com/julex-market-weekly-09-22-2013-no-taper-yet/) - Top Stories Last Week • Global Stocks Rallies as the Fed Restrained from Tapering The Federal Reserve surprised markets by not reducing the size of its $85 billion per month bond-purchase program. World stock markets rallies as traders cheered the news. In the week, S&P index rose 1.3%, and MSCI EAFE index rallied 2.3%. The
- [Julex Market Weekly 09-29-2013 | The Government Shutdown is Looming](https://www.julexcapital.com/julex-market-weekly-09-29-2013-the-government-shutdown-is-looming/) - Top Stories Last Week • US Stocks Dropped as Congress Could not Reach an Agreement on New Budget The US stocks dropped as Congress could not reach an agreement on the new fiscal year budget. The government may face shutdown if no deal is agreed by Monday. The uncertainty made the markets jittering. In the
- [Julex Market Weekly 10-07-2010 | The Government Shutdown Continues and Debt Ceiling is Approaching](https://www.julexcapital.com/julex-market-weekly-10-07-2010-the-government-shutdown-continues-and-debt-ceiling-is-approaching/) - Top Stories Last Week • US Stocks Shrugged off Government Shutdown The US stocks were largely unchanged though the Congress could not reach an agreement on the new fiscal year budget and federal government partially shut down. Most of the market participants believed the shutdown would be temporary. In the week, S&P index remained flat,
- [Julex Market Weekly 10-13-2013 | Companies are Parading to Report Earnings despite the Government Shutdown](https://www.julexcapital.com/julex-market-weekly-10-13-2013-companies-are-parading-to-report-earnings-despite-the-government-shutdown/) - Top Stories Last Week • Global Equities Rose among Debt Ceiling Negotiation and Yellen Nomination Global equities rose for the week amid the optimism on the fiscal negotiation. President Obama’s nomination of Janet Yellen to be next Fed chairman triggered the speculation that the tapering will be slow. Alcoa kicked off the third-quarter earnings season
- [Julex Market Weekly 10-20-2013 | US Stocks Rallied to New Highs](https://www.julexcapital.com/julex-market-weekly-10-20-2013-us-stocks-rallied-to-new-highs/) - Top Stories Last Week • US Stocks Reached New Records Global equities rallies as US Congress passed the funding bill and raised the debt ceiling. The federal government reopened on Thursday. Corporate earnings have been strong as Google, GE and Morgan Stanley beat estimates. In the week, S&P index rose 2.4%, and MSCI EAFE index
- [Julex Market Weekly 10-27-2013 | Strong Earnings Drove Stocks Higher](https://www.julexcapital.com/julex-market-weekly-10-27-2013-strong-earnings-drove-stocks-higher/) - Top Stories Last Week • US Stocks Moved Higher on Strong Earnings Halfway through the earning season, Most of US companies beat expectations. US stocks reached new records. In the week, S&P index rose 0.9%, and MSCI EAFE index climbed 0.6%. However, the MSCI Emerging Market Index declined by 0.9% amid increasing concerns about Chinese
- [Julex Market Weekly 11-03-2013 | Still No Tapering](https://www.julexcapital.com/julex-market-weekly-11-03-2013-still-no-tapering/) - Top Stories Last Week • Global Stocks were Mixed Global stocks were traded mixed even the corporate profits have been strong and the Fed decided not to taper the quantitative easing after their two-day policy meeting. In the week, S&P index rose 0.1%, but MSCI EAFE index dropped 1.4%. The MSCI Emerging Market Index declined
- [Julex Market Weekly 11-10-2013 | Emerging Markets Tumbled](https://www.julexcapital.com/julex-market-weekly-11-10-2013-emerging-markets-tumbled/) - Top Stories Last Week • Emerging Markets Tumbled Expectations of a slower pace of growth across most emerging markets have helped sap investor confidence in these economies, and added to concerns that the asset class will be dragged down when the Federal Reserve begins to wind down its economic stimulus program. Emerging market equity tumbled,
- [Julex Market Weekly 11-17-2013 | Global Financial Markets Rallied](https://www.julexcapital.com/julex-market-weekly-11-17-2013-global-financial-markets-rallied/) - Top Stories Last Week • Global Financial Markets Rallied Global financial markets rallied as investors speculated the Fed’s tapering of bond purchase program may delay after Yellen’s confirmation hearing in the Senate. In the week, S&P index rose 1.6%, and MSCI EAFE index climbed 1.5%. The MSCI Emerging Market Index rallied by 2.6%. Gold remained
- [Julex Market Weekly 11-24-2013 | US Stocks Rose Again](https://www.julexcapital.com/julex-market-weekly-11-24-2013-us-stocks-rose-again/) - Top Stories Last Week • US Stocks Rose Again US stocks rose again in a quiet week without much important economic news. S&P index rose 0.4%, and MSCI EAFE index was flat. The MSCI Emerging Market Index dropped by 0.6%. Gold tumbled 3.6%, while the SPGC commodity index went up by 1.2%. The bond markets
- [Julex Market Weekly 12-01-2013 | US Stocks Rose Slightly During Thanksgiving Week](https://www.julexcapital.com/julex-market-weekly-12-01-2013-us-stocks-rose-slightly-during-thanksgiving-week/) - Top Stories Last Week • US Stocks Rose During Thanksgiving Week US stocks rose slightly during Thanksgiving week. S&P index rose 0.1%, and MSCI EAFE index climbed 0.1%. The MSCI Emerging Market was up 0.3%. Gold rose 0.7%, and the SPGC commodity index increased by 0.1%. The bond markets gained slightly as well. Barclays US
- [Julex Market Weekly 12-08-2013 | Global Stocks Ended the Week Slightly Lower](https://www.julexcapital.com/julex-market-weekly-12-08-2013-global-stocks-ended-the-week-slightly-lower/) - Top Stories Last Week • Global Stocks Ended the Week Slightly Lower Global stocks slumped for most of the week until the strong US job report on Friday rallied the markets. The week ended with slight decline across the board. During the week, S&P index remained flat, but MSCI EAFE index dropped 1.3%. The MSCI
- [Julex Market Weekly 12-15-2013 | Global Stocks Slumped for the Second Week](https://www.julexcapital.com/julex-market-weekly-12-15-2013-global-stocks-slumped-for-the-second-week/) - Top Stories Last Week • Global Stocks Slumped for the Second Week Global stocks slumped for the second week on the concern about the possible tapering of bond purchases by the Fed this week. Last week, S&P index declined 1.4%, and MSCI EAFE index dropped 2.0%. The MSCI Emerging Market tumbled 2.4%. Gold price climbed
- [Julex Market Weekly 12-22-2013 | US Stocks Reached Record](https://www.julexcapital.com/julex-market-weekly-12-22-2013-us-stocks-reached-record/) - Top Stories Last Week • US Stocks Reached Record US reached record again as the Fed started reducing bond purchases by $10 billion, a very slow pace of tapering. Last week, S&P index rallied 2.5%, and MSCI EAFE index climbed 3.0%. However, the MSCI Emerging Market declined 0.4%. Gold tumbled 2.9%, while the SPGC commodity
- [Julex Market Weekly 12-29-2013 | US Stocks Reached Records Again](https://www.julexcapital.com/julex-market-weekly-12-29-2013-us-stocks-reached-records-again/) - Top Stories Last Week • US Stocks Reached Records Again US Stocks reached records again in the holiday season with no major economic news. Last week, S&P index rallied 1.3%, and MSCI EAFE index climbed 2.3%. The MSCI Emerging Market rose 1.8%. Gold climbed 1.0%, while the SPGC commodity index rose by 0.4%. The bond
- [Julex Market Weekly 01-05-2013 | Global Stock Market Started the New Year with Negative Performance](https://www.julexcapital.com/julex-market-weekly-01-05-2013-global-stock-market-started-the-new-year-with-negative-performance/) - Top Stories Last Week • Global Stock Markets Started the New Year with Negative Performance Global stocks started 2014 with negative performance. Last week, S&P index dropped 1.0%, and MSCI EAFE index declined 1.7%. Even worse, the MSCI Emerging Market tumbled 3.6%. On other hand, gold climbed 2.7%, while the SPGC commodity index dropped by
- [Julex Market Weekly 01-12-2014 | Equity Markets Rose in the Week](https://www.julexcapital.com/julex-market-weekly-01-12-2014-equity-markets-rose-in-the-week/) - Top Stories Last Week • Equity Markets Rose in the Week Global stocks rose slightly in the second week 0f 2014. S&P index rose 0.7%, and MSCI EAFE index rallied 1.3%. The MSCI Emerging Market Index was up 0.6%. On other hand, gold climbed 0.8%, while the SPGC commodity index dropped by 0.6%. The bond
- [Julex Market Weekly 01-19-2014 | US Equities Fell on Earning Concerns](https://www.julexcapital.com/julex-market-weekly-01-19-2014-us-equities-fell-on-earning-concerns/) - Top Stories Last Week • US Equities Fell on Earning Concerns The Standard & Poor’s 500 Index fell for the week, after touching an all-time high, as weaker-than-estimated earnings at companies from Citigroup Inc. to CSX Corp. offset an improving outlook for the global economy. Last week, S&P index dropped 0.3%, and MSCI EAFE index
- [Julex Market Weekly 02-09-2014| Global Equity Markets Rose in a Volatile Week](https://www.julexcapital.com/julex-market-weekly-02-09-2014-global-equity-markets-rose-in-a-volatile-week/) - Top Stories Last Week • Global Equity Markets Rose in a Volatile Week Disappointed US job reports triggered speculation that the Fed may keep loose monetary policies longer. The Global stock markets recover all the losses suffered after the below-than-expected ISM manufacturing number was reported on Monday. Last week, S&P index rose 0.8%, and MSCI
- [Julex Market Weekly 02-16-2014 | Stocks Have Their Best Week in 2014](https://www.julexcapital.com/julex-market-weekly-02-16-2014-stocks-have-their-best-week-in-2014/) - Top Stories Last Week • Stocks Have Their best Week So far this year The stock market got a boost on Tuesday when Janet Yellen, the new head of the Federal Reserve, said she would continue the central bank's low-interest rate policies. The US stocks finished the best week in 2014 as Congress moved toward
- [Julex Market Weekly 02-23-2014 | Stocks Changed Little Last Week](https://www.julexcapital.com/julex-market-weekly-02-23-2014-stocks-changed-little-last-week/) - Top Stories Last Week • Stocks Changed Little Last Week The US stocks changed very little as investors tried to balance between soft economic data and their implication for monetary policies. Last week, S&P index dropped 0.1%, and MSCI EAFE index rallied 0.7%. The MSCI Emerging Market was down slightly 0.1%. Gold climbed 0.3%, and
- [Julex Market Weekly 03-02-2014 | US Stocks Rallied Last Week](https://www.julexcapital.com/julex-market-weekly-03-02-2014-us-stocks-rallied-last-week/) - Top Stories Last Week • US Stocks Rallied Last Week The US stocks rallied as the Fed Chair Janet Yellen in her testimony before the Senate indicated that the US economy softened and signaled the pace of tapering can be reconsidered if there is a significant change of economic outlook. Last week, S&P index rallied
- [Julex Market Weekly 03-09-2014 | US Stocks Moved Higher Last Week](https://www.julexcapital.com/julex-market-weekly-03-09-2014-us-stocks-moved-higher-last-week/) - Top Stories Last Week • US Stocks Moved Higher Last Week US stocks moved higher while bonds declined as employers added more jobs than expected. Last week, S&P index rallied 1.1%, and MSCI EAFE index climbed 0.2%. The MSCI Emerging Market was flat. Gold climbed 1.2%, and the SPGC commodity index rose by 0.5%. The
- [Julex Market Weekly 03-23-2014 | US Stocks Continued Moving Higher Last Week](https://www.julexcapital.com/julex-market-weekly-03-23-2014-us-stocks-continued-moving-higher-last-week/) - Top Stories Last Week • US Stocks Moved Higher Last Week US stocks moved higher while bonds declined as Fed signaled interest rate rises in 2015. Last week, S&P index rallied 1.3%, and MSCI EAFE index climbed 0.1%. The MSCI Emerging Market jumped by 1.7%. Gold tumbled 3.5%, and the SPGC commodity index dropped by
- [Julex Market Weekly 03-30-2014](https://www.julexcapital.com/julex-market-weekly-03-30-2014/) - Top Stories Last Week • Five of Thirty US Banks Failed Stress Tests Citi Group, Zions Bancorp, HSBC North America, RBS Citizen’s Financial and Santander Holdings USA failed stress tests. The Fed rejected their capital plans. Citi Group shares tumbled by 5% after the news. • Durable Goods Orders Rose, but Capex Looked Weak The
- [Tactical Investment Insights 04-06-2014](https://www.julexcapital.com/tactical-investment-insights-04-06-2014/) - General Market Conditions - Risk Switcher(TM) Julex has developed a four-factor Risk Switcher (TM) model to provide assessment on the general market conditions. Normally, in a "Risk On" regime (bull market), the economy is expanding, market trend is going up, market volatility is moving lower and market liquidity is plenty. In a "Risk Off" regime
- [Tactical Investment Insights 04-13-2014 | 2014 Crash?  Not So Fast](https://www.julexcapital.com/tactical-investment-insights-04-13-2014-2014-crash-not-so-fast/) - Recently, a scary chart created by market pundit, Tom DeMark, has stirred Wall Street. He drew a striking parallel between the current market performance and the 1929 crash. The sell-offs in last few weeks tended to confirm his bearish prediction (see Chart One). So far in April, S&P 500 Index tumbled 2.9%, even worse, the
- [It's the Economy, Stupid | Tactical Investment Insights 04-20-2014](https://www.julexcapital.com/its-the-economy-stupid-tactical-investment-insights-04-20-2014/) - Last week, the stock markets bounced back amid the strong retail sales and upbeat earnings report from Citi Group and Yahoo. S&P 500 Index rallied 2.7% and has recovered most of losses in April. U.S. retail sales recorded their largest gain in one and half years in March at 1.1%, generating optimism that growth may
- [Should Wall Street Be Concerned about Ukraine Crisis? | Tactical Investment Insight 04-27-2014](https://www.julexcapital.com/should-wall-street-concern-about-ukraine-crisis-tactical-investment-insight-4-27-2014/) - Should Wall Street Be Concerned About Ukraine? Last week, Ukraine crisis was on headline again. G7 countries have approved a new round of sanctions against Russia. In addition to the current measures such as asset freezing and visa bans against Russian high level officials, the sanctions may target individuals with influence in sectors of the
- [Is EM Ready to Rebound? | Tactical Investment Insights 05-05-2014](https://www.julexcapital.com/is-em-ready-to-rebound-tactical-investment-insights-05-05-2014/) - Is EM Ready to Rebound? Investors in emerging markets equities had a disappointed year in 2013. The MSCI Emerging Market Index dropped over 2%, while the S&P 500 rallied 32%. In recent months, however, emerging market (EM) equities showed signs of life. Since the lows in early February, the EM index has risen by 12%.
- [Is Small Cap in Correction? | Tactical Investment Insights 05-19-2014](https://www.julexcapital.com/is-small-cap-in-correction-tactical-investment-insights-05-19-2014/) - Is Small Cap in Correction? Last week, the Russell 2000 Index had fallen 8.75% from recent peak of 1,208.65 reached on March 4. On May 15, the index once fell below 1,087.79 during intra-day trading, the 10% threshold of the widely-used definition of correction, two days after the Dow Jones industrial average and the S&P
- [Four Things that Could Derail Stock Market Rallies | Tactical Investment Insights 07-15-2014](https://www.julexcapital.com/four-things-that-could-derail-stock-market-rallies-tactical-investment-insights-07-15-2014/) - Despite the hiccup last week, the US stock markets are still flirting with record highs. Yesterday, Goldman Sachs has revised its year-end target for the S&P 500 to 2,050, up from the previous target of 1,900. Against the backdrops of the Fed’s highly accommodative monetary policy, strong corporate earnings, and improving job markets, Individual investors
- [Macro Opportunities](https://www.julexcapital.com/macro-opportunities-strategy/) - The Macro Opportunities Strategy invests equally in the Dyamic Munlti-Asset, Dynamic Sector, and Dynamic Income with two times leverage. It aims to outperform HFRI Global Macro Index with a low correlation with traditional asset classes. Its investment universe includes US equities and bonds, international equities, emerging market equities and bonds, real estates and MLPs. The
- [How to Pick a Tactical Manager? | Tactical Investment Insights 07-22-2014](https://www.julexcapital.com/how-to-pick-a-tactical-manager-tactical-investment-insights-07-22-2014/) - How to Pick a Tactical Manager? Tactical asset allocation (TAA) has come back in fashion recently. Investors were stung, badly, by the financial crisis of 2008. No one wants to go through an experience like that again, which has led to renewed interest in TAA. A new group of tactical managers called ETF strategists has
- [Julex Capital Dynamic Income Strategy Achieved Highest PSN “TOP GUNS” Status](https://www.julexcapital.com/julex-capital-dynamic-income-strategy-achieved-highest-psn-top-guns-status-across-three-separate-categories/) - BOSTON, MA – August 18, 2014 – Julex Capital Management, LLC, a managed ETF strategy firm offering innovative investment solutions that aims to deliver consistent returns in any market environment, today announced that its Dynamic Income Strategy achieved “Top Guns” status within the Informa Investment Solutions' PSN manager ranking database at June 30, 2014. The
- [Is Valuation A Good Market-Timing Indicator? | Tactical Investment Insight 09-10-2014](https://www.julexcapital.com/is-valuation-a-good-market-timing-indicator-tactical-investment-insight-09-10-2014/) - After 5 years of a bull market, US Equities hit record highs again in the end of August as the S&P 500 index continues trading above the 2,000 level. As stock prices soar higher, their price/earnings ratios increase, making the stocks more "expensive." Many analysts are currently paying more attention on "Cyclically-Adjusted Price/Earnings Ratio" or
- [Bill Gross Jumped Ships, Should You? | Tactical Investment Insights 9-28-2014](https://www.julexcapital.com/bill-gross-jumped-ships-should-you-tactical-investment-insights-9-28-2014-2/) - Bill Gross, the "bond king" of Wall Street, quit Pimco last Friday because of "fundamental differences" with the board of the $2 trillion firm he founded 40 years ago. He will join Janus Capital to become the portfolio manager of a newly-launched Unconstrained Bond Fund. Although Gross has been on the new headlines for months
- [Why is Buy-and-Hold so Hard to Follow? |Tactical Investment Insight 10-27-2014](https://www.julexcapital.com/why-is-buy-and-hold-so-hard-to-follow-tactical-investment-insight-10-27-2014/) - According to the 2014 release of Dalbar's Quantitative Analysis of Investor Behavior (QAIB), the average equity mutual fund investor lagged S&P 500 Index by a large margin over various investment horizons (see Table 1). Over last 20 years, investors would have earned 4.2% more annually if they had just bought a index fund and held
- [Investment Themes in 2015 | Tactical Investment Insights 12-16-2014](https://www.julexcapital.com/investment-themes-in-2015-tactical-investment-insights-12-16-2014/) - Dr. Henry Ma, CFA, PhD, President and CIO of Julex Capital, was a panelist on a Morningstar Webinar on "Positioning Your Portfolio for 2015" on December 16, 2014. Following are highlights of some of the views shared by Henry during the webinar: Our 2015 economic forecast for U.S. growth is a bit more rosy that
- [Most Investors Don’t Have a Plan to Manage Market Downturns, Do you? |Tactical Investment Insights 4-27-2015](https://www.julexcapital.com/most-investors-dont-have-a-plan-to-manage-market-downturns-do-you/) - Both S&P 500 and Nasdaq Composite Indices reached new highs again last week. Investors are much more optimistic after a six-year bull market. However, investors are wary that a market correction could derail their financial plan even though most of them believe their investments will perform well in 2015, according to a recent survey conducted
- [What Will Happen to Bonds When the Fed Raises Rates? |Adaptive Investment Insights 05-26-2015](https://www.julexcapital.com/what-will-happen-to-bonds-when-the-fed-raises-rates-adaptive-investment-insights-05-26-2015/) - During her speech last Friday before the Greater Providence Chamber of Commerce, the Fed Federal Reserve chair Janet Yellen indicated the Fed may raise rates at some point this year. She said, “ … if the economy continues to improve as I expect, I think it will be appropriate at some point this year to
- [Julex Dynamic Sector Ranked No. 1 in ETF US Balanced Category by PSN Database](https://www.julexcapital.com/julex-dynamic-sector-ranked-no-1-in-etf-us-balanced-category-by-psn-database/) - BOSTON, MA – August 18, 2015 - Julex Capital Management, LLC, a tactical investment firm offering innovative investment solutions that aim to deliver consistent returns in any market environment, today announced that its Dynamic Sector strategy achieved "Top Guns" status within the Informa Investment Solutions' PSN manager ranking database. The Julex Dynamic Sector Strategy ranked
- [Fed May Rethink Interest Rate Hike Timing](https://www.julexcapital.com/fed-may-rethink-interest-rate-hike-timing/) - Views from Julex can be found in Fox Business today. http://www.foxbusiness.com/investing/2015/08/31/fed-may-rethink-interest-rate-hike-timing/
- [The Tale of Four Augusts - Will This Time Be the Same?](https://www.julexcapital.com/the-tale-of-four-augusts-will-this-time-be-the-same/) - The difficult market environment in August reminded us about the three other Augusts - August 1997 (Asian crisis), August 1998 (Russian crisis) and August 2011 (European debt crisis). In each of those episodes, there were some type of global risk events, and as a result, US market suffered significantly. In 1997, Asian financial crisis started
- [Julex Capital Celebrates Three Year Track Record of Top Performing Dynamic Income Strategy](https://www.julexcapital.com/julex-capital-celebrates-three-year-track-record-of-top-performing-dynamic-income-strategy/) - BOSTON, MA - October 6, 2015 - Julex Capital Management, LLC, an investment firm offering tactical risk-managed investment solutions that aim to minimize the downside losses while preserving the upside potential, today announced that the Julex Dynamic Income Strategy has celebrated its three year anniversary. Since its inception in October 2012, the strategy was ranked
- [TrueAlpha(TM) Large Cap](https://www.julexcapital.com/truealphatm-large-cap/) - TrueAlpha™ Large Cap is a quantitative equity strategy aiming to deliver "true" stock selection alpha unrelated to risk factors such as value, size or momentum. It normally invested in 30-40 high quality stocks with high profitability, safe balance sheet and low sensitivity to economic cycle. The strategy strives to outperform Russel 1000 Index significantly with
- [Risk Managed TrueAlpha(TM)  US Equity](https://www.julexcapital.com/truealphatm-risk-managed-us-equity/) - Risk Managed TrueAlpha™ US Equity is a quantitative equity strategy aiming to deliver both outperformance over index during market upswings and downside management during severe market downturns. It combines both our TrueAlpha™ stock selection model with our RiskSwitch™ tactical risk management model. When the market is identified as "risk on", the strategy normally invested in
- [Julex Dynamic Income Ranked "Top Guns" Performer by Informa PSN in Q3 2015](https://www.julexcapital.com/julex-dynamic-income-ranked-top-guns-performer-by-informa-psn-in-q3-2015/) - BOSTON, MA - November 17, 2015 - Julex Capital Management, LLC., an innovative investment firm offering tactical solutions that aim to deliver consistent returns by minimizing the downside while participating in the upside, today announced that its Dynamic Income strategy achieved "Top Guns" status within the Informa Investment Solutions' PSN investment manager database. The strategy
- [Risk-Off Signal- January 2016](https://www.julexcapital.com/risk-off-signal/) - At Julex Capital, we run a three step quantitative model the first of which determines the market environment, we call it the RiskSwitchTM. The RiskSwitchTM looks at various market indicators to determine the overall investment environment. The chart below is an example of two of the economic indicators we use to determine the health of the US
- [Julex Macro Chart Book | Q1, 2016](https://www.julexcapital.com/julex-macro-chart-book-february-2016/) - We have just published our Quarterly Macro Chart Book for Q1 2016. The general themes are: Economy continues expanding at a slow pace; Job market is strong and labor participation rate inches up from 30-year low; Inflation is muted, but core inflation has reached over 2.2%; Central bank monetary policies diverge, US will continue its
- [Why The Fed is in No Hurry to Raise Interest Rates? |March 18, 2016](https://www.julexcapital.com/why-the-fed-is-in-no-hurry-to-raise-interest-rates/) - Henry Ma, Ph.D., Chief Investment Officer At the end of a two-day meeting on Wednesday, as expected, the Fed did not raise interest rates. In the statement, the Fed dropped the word “patient” on acting on rates, but signaled it is in no hurry to
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions in Q1 2016](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-in-q1-2016/) - BOSTON, MA – May 18, 2016 - Julex Capital Management, LLC., announced that its’ Dynamic Sector, Dynamic Income and Dynamic Emerging Market strategies were recognized with "Top Guns" status within the Informa Investment Solutions' PSN investment manager database today. Julex Capital is an innovative investment firm offering tactical/risk managed solutions that aim to deliver consistent
- [Julex Macro Chart Book | Q2, 2016](https://www.julexcapital.com/julex-macro-chart-book-q2-2016/) - We have just published our Quarterly Macro Chart Book for Q2 2016. The general themes are: US Economy US economy grew at 2.1% YOY in Q1. Job markets continued improving and unemployment dropped to 4.9% though the labor force participation rate stayed around 30-year low . Wage growth was moderate. Both the headline CPI inflation
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions in Q2 2016](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-in-q2-2016/) - JULEX DYNAMIC INCOME Informa Investment Solution's PSN "TOP GUNS" status Q2, 2016, ETF Fixed Income category JULEX DYNAMIC EMERGING MARKET Informa Investment Solution's PSN "TOP GUNS" status Q2, 2016, ETF International Equity category BOSTON, MA – August 30, 2016 - Julex Capital Management, LLC., announced that its Dynamic Income and Dynamic Emerging Market strategies were
- [Julex Macro Chart Book | Q3, 2016](https://www.julexcapital.com/julex-macro-chart-book-q3-2016/) - US Economy US economy grew at 1.3% YOY in Q2. Job markets continued improving and unemployment dropped to 4.9% though the labor force participation rate remained at 30-year low. Wage growth was moderate. The headline CPI inflation rate stayed at 1.1%. The Fed kept interest rate unchanged in the September meeting, but became more hawkish.
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions in Q3 2016](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-in-q3-2016/) - JULEX DYNAMIC INCOME Informa Investment Solution's PSN "TOP GUNS" status Q3, 2016 for One-Year and Three-Year Performance ETF Fixed Income category JULEX DYNAMIC EMERGING MARKET Informa Investment Solution's PSN "TOP GUNS" status Q3, 2016 for One-Year Performance ETF International Equity category BOSTON, MA – November 16, 2016 - Julex Capital Management, LLC., announced that its
- [Henry Ma Discussed His ETF Picks for 2017 with Investor's Business Daily](https://www.julexcapital.com/henry-ma-discussed-his-etf-picks-with-investors-business-daily/) - 7 Best ETFs For Your Growth And Income Needs As Trump Takes The Wheel
- [How to Select Tactical Asset Allocation Managers](https://www.julexcapital.com/how-to-select-tactical-asset-allocation-managers/) - Tactical asset allocation (TAA) is a dynamic strategy that actively adjusts the asset weights in a portfolio based on the manager’s short term market views. It is normally used as a complement to a strategic allocation in order to improve the risk/return profile of the total portfolio. Historically, TAA provides an efficient and cost effective
- [Julex Strategies Achieved Top Guns Status within Informa Investment Solutions’ PSN Database for Q4 2016](https://www.julexcapital.com/julex-strategies-achieved-top-guns-status-within-informa-investment-solutions-psn-database-for-q4-2016/) - BOSTON, MA – February 16, 2017 - Julex Capital Management, LLC., announced today that its Dynamic Income, Dynamic Sector and Dynamic Emerging Market strategies were recognized with "Top Guns" status within the Informa Investment Solutions' PSN investment manager ranking database for Q4 2016. Julex Capital is an innovative investment firm offering tactical/risk managed solutions that
- [Risk Managed Multi Factor MLP](https://www.julexcapital.com/risk-managed-multi-factor-mlp-strategy/) - Risk Managed Multi Factor MLP is a quantitative strategy aiming to deliver both outperformance over Alerian MLP Index during market upswings and downside management during severe market downturns. It combines our multi factor stock selection model with our tactical risk management tool. When the market is identified as "risk on", the strategy normally invested in
- [Risk Managed Multi Factor REIT](https://www.julexcapital.com/risk-managed-multi-factor-reit/) - Risk Managed Multi Factor REIT is a quantitative strategy aiming to deliver both outperformance over FTSE NAREIT All Equity Index during market upswings and downside management during severe market downturns. It combines our multi factor stock selection model with our tactical risk management tool. When the market is identified as "risk on", the strategy normally
- [Dynamic Commodity](https://www.julexcapital.com/dynamic-commodity/) - The Dynamic Commodity is a strategy that seeks to minimize downside risk while maximizing upside potentials by tactically positioning in commodity ETFs with the flexibility of moving to bonds and cash completely. It aims to outperform Bloomberg Commodity Index with lower volatility and lower peak-to-trough drawdowns in a full market cycle. The strategy rotates among
- [Dynamic Developed Market](https://www.julexcapital.com/dynamic-developed-market/) - The Dynamic Developed Market strategy is an international equity strategy that seeks to achieve better returns than the MSCI EAFA index with lower volatility and lower peak-to-trough drawdowns in a full market cycle. The strategy rotates among the country ETFs in the equity markets of developed economies. It has the flexibility of investing only in
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions for Q1 2017](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-for-q1-2017/) - BOSTON, MA – May 18, 2017 - Julex Capital Management, LLC., announced today that its Dynamic Income, Dynamic Sector and Dynamic Emerging Market strategies were recognized with "Top Guns" status within the Informa Investment Solutions' PSN investment manager ranking database for Q1 2017. JULEX DYNAMIC INCOME Informa Investment Solution's PSN "TOP GUNS" Status for Recent-Quarter
- [Julex Dynamic Income Recognized as A Top Guns Performer by Informa Investment Solutions for Q2 2017](https://www.julexcapital.com/julex-dynamic-income-recognized-as-top-guns-performer-by-informa-investment-solutions-for-q2-2017/) - BOSTON, MA –August 16, 2017 - Julex Capital Management, LLC., announced today that its Dynamic Income was recognized with "Top Guns" status within the Informa Investment Solutions' PSN investment manager ranking database for Q2 2017. Dynamic Income for One-Year Performance in Core Fixed Category for One-Year Performance in ETF US Fixed Income Category Utilizing
- [TrueAlpha(TM) ESG US Equity](https://www.julexcapital.com/truealphatm-esg-us-equity/) - TrueAlpha™ ESG US Equity is a quantitative equity strategy aiming to deliver “true” stock selection alpha unrelated to risk factors such as value, size or momentum. It normally invested in 30-40 under-valued high quality stocks with above-average ESG (environmental, social and governance) rankings based on Thomson Reuters ESG ratings. The strategy strives to outperform Thomson Reuters ESG US Index
- [Julex Capital Recognized as Top Guns Manager by Informa Investment Solutions for Q3 2017](https://www.julexcapital.com/julex-capital-recognized-as-top-guns-manager-by-informa-investment-solutions-for-q3-2017/) - BOSTON, MA – November 16, 2017 - Julex Capital Management, LLC., announced today that its Dynamic Sector and Dynamic Income strategies were recognized with "Top Guns designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers, for Q3 2017. JULEX DYNAMIC SECTOR Informa Investment Solution's PSN "TOP GUNS" Status
- [Risk Managed TrueAlpha ESG US Equity](https://www.julexcapital.com/risk-managed-truealpha-esg-us-equity/) - Risk Managed TrueAlpha™ ESG US Equity is a quantitative equity strategy aiming to deliver both outperformance over index during market upswings and downside management during severe market downturns. It combines both our TrueAlpha™ stock selection model with our RiskSwitch™ tactical risk management model. When the market is identified as “risk on”, the strategy normally invested

## Pages

- [Home](https://www.julexcapital.com/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative solutions for institutions and individuals.
- [Upcoming Webinars](https://www.julexcapital.com/upcoming_webinars/) - August 7th: Should I hire a financial advisor, or do it myself Fri, August 07, 2026 11:00 AM – 11:45 AM (EDT) Zoom Meeting Registration August 14th: Social Security and Medicare – Two impossible programs Fri, August 14, 2026 11:00 AM – 11:45 AM (EDT) Zoom Meeting Registration August 21st: Immigrants, impact on US economy
- [Option Overlays](https://www.julexcapital.com/options-overlay/) - Julex Capital offers a suite of option overlay strategies that aim to enhance portfolio performance through: Downside Protection: Buying put options for protection can be very expensive. By using put spreads, we can balance the amount of protection an investor desires against the cost he wants to bear. Income Enhancement: Options writing is an attractive
- [Concentrated Quantitative Equity Strategies](https://www.julexcapital.com/products/multi-factor-quantitative-equity-strategies/) - Julex Capital offers factor-based quantitative equity strategies based on its TrueAlpha™ stock selection model. The goal is to generate significant excess return (“alpha”) over index by investing in a concentrated portfolio of 20-40 stocks. The TrueAlpha™ stock selection model has two distinct features: Sequential factor screening. In contrast to most quant models with a linear
- [Tactical ETF Strategies](https://www.julexcapital.com/products/tactical-etf-strategies/) - Julex offers a variety of tactical ETF strategies aiming to limit the downside risk while maximizing the upside potentials. All the strategies strive to deliver attractive total returns and outperformance over the relevant benchmarks over a full market cycle. Three main model products including Dynamic Income, Dynamic Sector and Dynamic Multi-Asset. Financial advisors and institutional
- [How to Invest With Us](https://www.julexcapital.com/products/how-to-invest-with-us/) - Julex’s investment strategies are available as separately managed accounts (SMA) on the following platforms: TAMPs (Turnkey Asset Management Platform) : AssetMark Folio Institutional Adhesion Wealth Advisor Solutions SmartX Orion GeoWealth Broker/Dealers Platforms: Schwab Institutional Fidelity Institutional Interactive Brokers In addition, Julex provides the model signals to or manages assets for investment advisors and institutions directly.
- [Our Story](https://www.julexcapital.com/about-us/our-story/) - Julex Capital Management, LLC (Julex), founded in 2012, is a SEC-registered investment management firm dedicated to creating innovative solutions in the areas of tactical asset allocation, quantitative investing and option overlays. Julex is managed by industry veterans with strong academic and industry experiences in portfolio management, asset allocation, risk management and quantitative research across asset
- [Strategy White Paper](https://www.julexcapital.com/insights/strategy-white-paper/) - The Big Lie – Tax Alpha from Tax-Loss Harvesting By renaming tax-loss harvesting as tax alpha, our industry’s marketing professionals encourage the consumer (whether financial advisor or end client) to believe that (1) the benefit is large enough to be interesting and (2) is repeatable and relatively durable, i.e., it will continue across time (as
- [Julex Team](https://www.julexcapital.com/about-us/management-team/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Contact](https://www.julexcapital.com/contact-us/) - Notice: JavaScript is required for this content. For further information, please contact: Julex Capital Management, LLC 209 West Central Street Suite 314 Natick, MA 01760, USA Tel: 781-489-5398 Email: info@julexcapital.com Please feel free to schedule a call:
- [Monthly Macro Chart Book](https://www.julexcapital.com/monthly-macro-chart-book/) - Macro Chart Book – March 2024 March’s inflation print came in hotter than expectations, but real wages continue to be positive. Most risk-assets were positive on the month as corporate profits were at the highest levels ever. These and other economic topics are examined in March’s edition of Julex’s Monthly Macro Chart Book. Macro Chart
- [Advisory Board](https://www.julexcapital.com/about-us/advisory-board/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Equity Income Solutions](https://www.julexcapital.com/equity-income-solutions/) - Julex Capital offers model-driven equity income strategies based on a multi-factor approach. The goal is to generate above average dividend income and long-term capital growth by investing in a concentrated portfolio of 20-30 high dividend or real estate stocks. Our multi-factor model combines size, value, quality and momentum to generate consistent excess returns. High Dividend
- [Webinar Archive](https://www.julexcapital.com/insights/webinar_archives/) - Economic Growth Vs. Market Returns This presentation is part 122 of our weekly webinar series with our Advisory Board member Dr. Rob Brown. In this presentation, Rob talks about the relationship between economic growth and market returns. Are U.S. Stock Returns Over The Last 74 Years Representative? This presentation is part 121 of our weekly
- [Dynamic Risk-Based Portfolio Solutions](https://www.julexcapital.com/products/dynamic-etf-portfolio-solutions/) - Julex offers a suite of global asset allocation solutions designed to provide targeted levels of risk and returns. For these products we allocate appropriate combinations of core asset classes ETFs plus Julex tactical ETF strategies into mixes supporting Dynamic Defensive, Dynamic Conservative, Dynamic Moderate, or Dynamic Aggressive “all-in-one” investment solutions. The Dynamic Aggressive Strategy A
- [Goal-Based Destination Strategies](https://www.julexcapital.com/destinations-strategies/) - Julex offers a suite of global asset allocation strategies designed to deliver targeted net returns at investors’ destinations (as illustrated below), which are defined as the expected time horizon for investors to achieve their goals. The strategies may be appropriate for investors with well-defined investment destinations and clear return expectations. Destination Number Investment Horizon (Years)
- [Perspectives on Tactical Asset Allocation](https://www.julexcapital.com/perspectives-on-tactical-asset-allocation/) - Behavioral Knockout Risk Avoiding common pitfalls The three most dangerous traps to avoid during one's investment journey are liquidity risk, the next get rich quick scheme, and behavioral knockout risk. Liquidity risk is the risk that due to poor planning you are forced to sell at the worst possible time, essentially demanding liquidity from the
- [Customized Investment Solutions and Advisor Support](https://www.julexcapital.com/customized-solutions-and-advisor-supports/) - Investment advisors like you serve a sophisticated array of clients in an environment that is constantly evolving in complexity and risk. The "one-size-fits-all" solutions are often not sufficient for clients to achieve their financial goals. Julex Capital offers customized investment solutions that clients need to navigate fast moving, volatile markets. We are dedicated to building
- [Form ADV and Privacy Policy](https://www.julexcapital.com/form-adv/) - Julex Capital Management, LLC is a SEC-registered investment advisor in Massachusetts. Please check SEC website to see our regulatory filings: Form ADV Form ADV 2 Form ADV 3 Privacy Policy
- [Research Consultants](https://www.julexcapital.com/about-us/research-team/) - George Xiang, Ph.D., CFA, Research Consultant Dr. Xiang has extensive experiences in fixed income, quantitative equity, and commodities. His experiences include designing investment products, creating trading strategies, and developing analytic tools. During his career, George worked as Head of Global Fixed Income Research at SSGA, a senior quantitative analyst at Loomis Sayles & Company and
- [Webinars](https://www.julexcapital.com/webinar-archive/)
- [Risk Managed Equity Strategies](https://www.julexcapital.com/products/risk-managed-equity-strategies/) - The Julex risk managed equity strategies strive to outperform the market benchmarks in the favorable market environment while having the flexibility of moving to defensive positions like cash or bonds in the unfavorable market condition. We combine our tactical risk on/off indicator with multi factor stock selection model in the investment process. When the indicator
- [TrueAlpha™ Multi Factor Stock Selection Model](https://www.julexcapital.com/investment-process/truealpha-multi-factor-stock-selection-model/) - Julex Capital has developed a TrueAlpha™ Multi Factor stock selection model to create a concentrated portfolio aiming to generate a significant alpha over index with high active shares and tracking errors. The TrueAlpha™ stock selection model has two distinct features: Sequential factor screening. In contrast to most quant models with a linear combined score, our
- [Adaptive Investment Process](https://www.julexcapital.com/investment-process/adaptive-investment-process/) - We believe capital preservation and capital growth are equally important investment objectives. Investors can achieve long-term outperformance by limiting the downside risk during severe market downturns. To achieve our objectives, we have developed a three-step multi input adaptive investment process, which allows us to adjust portfolio risk exposure according to market environment. The steps include:
- [How To Use Tactical Strategies](https://www.julexcapital.com/insights/how-to-use-tactical-strategies/) - Investors can use tactical strategies to enhance returns as well as manage downside risks. Normally tactical strategies can serve as “satellites” to complement the core positions. Equity Allocation. Aggressive tactical strategies can be used as part of the equity allocation. Bond Allocation. Conservative tactical strategies can used as part of the bond allocation. Blended Allocation.
- [RiskSwitch™](https://www.julexcapital.com/investment-process/riskswith/) - By studying numerous economic, technical and market indicators, we have developed a composite indicator, called Risk Switch™, to help us identify the state of markets. In the “risk on” state, investors would like to take more risks and we over-weight risky assets such as equity, real estate and commodity. On the other hand, in the
- [Product Summary](https://www.julexcapital.com/products-and-services/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative solutions for institutions and individuals.
- [Investment Philosophy](https://www.julexcapital.com/investment-philosophy/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Disclosure](https://www.julexcapital.com/contact-us/disclosure/) - This website is for the purpose of information exchange. This is not a solicitation or offer to buy or sell any security. You must do your own due diligence and consult a professional investment advisor before making any investment decisions. The use of a proprietary technique, model or algorithm does not guarantee any specific or profitable
- [Performance](https://www.julexcapital.com/products-and-services/performance/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Solutions](https://www.julexcapital.com/solutions/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Institutional Investors](https://www.julexcapital.com/solutions/institutional-investors/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative dynamic asset allocation solutions for institutions and individuals.
- [Individual Investors](https://www.julexcapital.com/individual-investors/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative solutions for institutions and individuals.
- [Investment Advisors](https://www.julexcapital.com/investment-advisors/) - Julex Capital Management, LLC is an investment advisory firm dedicated to creating innovative solutions for institutions and individuals.
- [Fact Sheets](https://www.julexcapital.com/fact-sheets/) - [button link="http://julexcapital.com/wp-content/uploads/2013/03/Julex-Presentation_v20132028.pdf" color="blue" size="small"]Julex Capital Product Presentation[/button]
- [Julex In the News](https://www.julexcapital.com/media/) - Press Release: AssetMark Expands Solution Strategies for Independent Financial Advisors Julex Capital Celebrates Three Year Track Record of Top Performing Dynamic Income Strategy Julex Capital Dynamic Sector Was Ranked No. 1 in the ETF US Balanced Category for the Year Ended Q2 2015 Julex Capital Dynamic Income Achieved PSN "TOP GUNS" Status for the Year
- [Adaptive Investment Approach](https://www.julexcapital.com/adaptive-investment-approach/) - During the last decade, two deep bear markets, as results of tech bubble and mortgage crisis, have challenged the conventional wisdoms such as modern portfolio theory (MPT) and Efficient Market Hypothesis (EMH). Those assumptions include: There is a linear positive risk/return tradeoff across all financial assets; The risk/return relationship is static across time; The parameters
- [About Us](https://www.julexcapital.com/about-us/)
- [Insights](https://www.julexcapital.com/insights/)
- [Julex Macro Chart Book](https://www.julexcapital.com/julex-macro-chart-book/) - We publish Macro Chart Book every quarter to provide an overview of global economic and market themes to help investors navigate through the volatile financial markets. Julex Macro Chart Book | Q1 2016 Julex Macro Chart Book | Q2 2016 Julex Macro Chart Book | Q3 2016
- [Tactical Asset Allocation in the Age of ETFs](https://www.julexcapital.com/tactical-asset-allocation-in-the-age-of-etfs/) - Henry Ma, Ph.D., CFA, President and Chief Investment Officer Executive Summary After the financial crisis of 2007-2008, there was renewed interest in Tactical Asset Allocation (TAA) as investors searched for better downside risk management solutions. A new class of TAA managers, often referred to as “tactical ETF strategists,” emerged. They develop tactical strategies aiming to
- [Jeff Megar Discussed Our Adaptive Investment Approach with ETF Trends](https://www.julexcapital.com/jeff-megar-discussed-our-adaptive-investment-approach-with-etf-trends/) - https://youtu.be/RxhzVxPbw0M
- [RiskSwitch(TM)](https://www.julexcapital.com/riskswitch/) - Variables Mar 2018 Feb 2018 Jan 2018 Dec 2017 Nov 2107 Economy Expanding Expanding Expanding Expanding Expanding Market Trend Up Up Up Up Up Volatility Above Trend Above Trend Below Trend Below Trend Below Trend Liquidity/Monetary Policy Loose Loose Loose Loose Loose Risk-Off Probability 10% -30% 10% -30%
- [Products](https://www.julexcapital.com/products/)
- [Investment Process](https://www.julexcapital.com/investment-process/)

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