In this week’s ETF & Markets video we look at:

• Enthusiasm for equity ETFs continues
• The case for small-caps
• Energy timely but an opportunity cost game
• Money market fund implications
• A Silver analogy

Definitions:

S&P 500 – A widely used stock market index that tracks 500 large-cap U.S. companies across multiple sectors.

Equity ETF – An ETF that invests primarily in stocks, providing exposure to a broad market or specific sectors.

iShares Russell 2000 ETF - The iShares Russell 2000 ETF seeks to track the investment results of an index composed of small-capitalization U.S. equities.

Silver – is a soft, lustrous, grayish-white precious metal (element Ag) known for its high electrical/thermal conductivity and reflectivity, used in jewelry, coins, and electronics, and also refers to its color, a silver medal (second place), or tableware.=

Money Market fund - Invests in short-term, higher quality securities. Designed to provide high liquidity with lower risk, stability of capital and typically higher yields than some other cash products.

7-Day Yield -  is a measure of performance in the interest rates of money market mutual funds offered by US mutual fund companies. is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of all applicable waivers.

Bloomberg Bond Aggregate Index - The Bloomberg USAgg Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market.

Yield to worst - The “Yield to Worst” (YTW) of a bond is the worst-case possible annualized return an investor could earn if they buy the bond at today’s market price and hold it until either maturity or until the company “calls” it by repaying it early; it’s the minimum of the Yield to Call on each possible call date and the Yield to Maturity.

Invesco S&P 500 Equal-Weight Energy ETF - The Invesco S&P 500® Equal Weight Energy ETF (Fund) is based on the S&P 500® Equal Weight Energy Plus Index (Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index equally weights stocks in the energy sector of the S&P 500® Index. The energy sector includes companies engaged in the exploration and production, refining and marketing, and storage and transportation of oil and gas and coal and consumable fuels, as well as companies that offer oil and gas equipment and services. The Fund and the Index are rebalanced quarterly.

Invesco S&P 500 Equal-Weight ETF - Invesco S&P 500® Equal Weight ETF (RSP) is based on the S&P 500® Equal Weight Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index.

This communication was prepared by Strategas (“we,” “us,” or “our”), a brand that offers investment advisory services through Strategas Asset Management, LLC, an SEC Registered Investment Adviser, and provides research to institutional investors through Strategas Securities, LLC, a broker-dealer and FINRA member firm and an SEC Registered Investment Adviser. Information regarding market or economic trends, or the factors influencing historical or future performance, reflects the opinions of management as of the date of this communication, and are subject to change. 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. The information contained herein has been obtained from sources we believe to be reliable, but no guarantee of accuracy can be made. 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.

Strategas Asset Management, LLC and Strategas Securities, LLC are affiliated with Robert W. Baird & Co. Incorporated ("Baird"), a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser, although the firms conduct separate and distinct businesses.

The ETFs described herein are referenced solely for illustrative purposes and should not be construed as an investment recommendation. An investment in exchange traded funds involves risk, including the possible loss of principal. For important disclosures and risks relating to each ETF referenced herein, see each respective funds’ prospectus or contact your financial professional.