Prometheus Research

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Prometheus ETF Portfolio
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ETF Portfolio

Prometheus ETF Portfolio

Weekly Update: 08.23.2024

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Prometheus Research
Aug 23, 2024
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Prometheus ETF Portfolio
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Welcome to Prometheus ETF Portfolio. The Prometheus ETF Portfolio aims to allow everyday investors to access an investment solution that combines active macro alpha, passive beta, and strict risk control, all in an easy-to-follow, low-turnover solution. We aim to achieve strong risk-adjusted returns relative to cash, with limited capital drawdowns in depth and duration. We do this in a highly accessible package, which rotates between five highly liquid ETFs, readily available to any investor with a brokerage account.

Let us dive into our assessment of macroeconomic conditions:

  • Performance Updates: Performance Updates: Our long-only portfolio was up 0.61% this week on the back of strong bond market returns. Our ETF Portfolio is once again at All-Time Highs following this performance. 

  • Market Monitor: Over the last week, markets moved to decisively price in a slowing, but growing economy. Particularly, market regime dynamics moved to price in further slowing and policy easing, an environment which remains positive for bonds. Economic data has supported the durability of these trends.

  • Economic Data Monitor: Economic data momentum remains flat this week, with housing data coming in weaker than expected, but claims data coming in stronger. Business cycle conditions continue to point to a slowing of economic momentum. The latest weakening of the economy has begun to broaden and is a trend to watch carefully. If these dynamics worsen, we will be looking at contractionary pressures, though we remain well-removed from this position.

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