There are no changes to any of the Invesco models this week. As we do each quarter, today we review the performance of the models covered in this report.
There are no changes to any of the Invesco models this week. As we do each quarter, today we review the performance of the models covered in this report. US equities had a major sell-off in the second quarter after the Trump administration announced reciprocal tariffs in early April. At its low, the S&P 500 (SPX) was down more than 20% from the all-time high it reached earlier this year. But stocks rallied following the announcement of a 90-day pause on the tariffs and SPX finished the quarter up more than 10%, recording a new all-time high near the end of the quarter. The US-equity-focused Invesco models rallied with the broader market each finishing the quarter the green. The DWA Sector 4 Model (POWER4) and the Invesco Dynamic Equal Weight Sector Model (GUGGEWSECT) lagged the broader market, while the Invesco Sector Seven (POWER7) outpaced the S&P by roughly 3.5%. Small cap stocks lagged their large cap counterparts as the S&P 600 Small Cap Index (SPSML) finished the quarter up a little under 4.5%; the Invesco Small Cap Sector Model (POWERSMALL) trailed the benchmark, gaining just over 3%.
International equities largely kept up with their domestic counterparts as the iShares MSCI ACWI ETF (ACWI) gained 10.5% for the quarter, putting it well ahead of the S&P through the first half of the year. The DWA Global Technical Leaders Portfolio (TECHLEADERS4) outpaced the benchmark, gaining 14.5% for the quarter, while the DWA Global Factor Model (GLOBALFACTOR) and Invesco Special Opportunities Model (GUGGSO) underperformed.
Commodities were roughly flat for the quarter as the DWA Equal Dollar Weight Commodity Index (DWAPWRCOMMOD) gained 0.37%. The Invesco Commodity Model (POWRSHARES) finished the quarter down -8.65% as the model was whipsawed by the crude oil’s rally and subsequent reversal following Israel’s bombing of Iranian nuclear facilities and the quick de-escalation of tensions.
