Strategas Asset Management ETF Strategist Todd Sohn discusses the rapidly growing influence of semiconductors within the S&P 500 as well as the message from broader ETF flows to start the year.

Index Definitions:

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

The SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund that seeks to track the performance of the S&P 500 index.

The Direxion Daily Semiconductor Bull and Bear 3X Shares (SOXL) provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL is an aggressive and bullish 1-day bet on a concentrated portfolio of the 30 largest US-listed semiconductor companies, including manufacturers and providers of services or equipment associated with semiconductors.

Retail money market funds are defined as funds with policies and procedures that limit beneficial ownership to those investors deemed as "natural persons" (i.e., retail investors as opposed to institutional investors). 

This communication was prepared by Strategas Asset Management, LLC ("we" or "us" or “our”). This communication represents our views as of 1/22/2024, which are subject to change, and are presented for illustrative purposes only. The information contained herein has been obtained from sources we believe to be reliable, but no guarantee of accuracy can be made. This communication is provided for informational purposes only and should not be construed as an offer, recommendation, nor solicitation to buy or sell any specific security, strategy, or investment product. This communication does not constitute, nor should it be regarded as, investment research or a research report or securities recommendation and it does not provide information reasonably sufficient upon which to base an investment decision. This is not a complete analysis of every material fact regarding any company, industry, or security. Additional analysis would be required to make an investment decision. This communication is not based on the investment objectives, strategies, goals, financial circumstances, needs or risk tolerance of any particular client and is not presented as suitable to any other particular client. Past performance does not guarantee future results. All investments carry some level of risk, including loss of principal.

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