News

AI’s generational opportunity comes with generational uncertainty

Tue, 14 Jul 2026 03:27:00 GMT

Over the past several months, Americans have closely followed several momentous events:

• The Artemis II mission, which set a record for the greatest distance humans have traveled from Earth.

• The national celebration of the Semiquincentennial, marking the 250th anniversary of the signing of the Declaration of Independence.

• The unprecedented staging of the FIFA World Cup across three North American host countries: Canada, Mexico, and the United States.

Yet the story that continues to captivate retail investors, institutional managers and analysts, and financial advisers is the rapid growth, adoption, and evolution of artificial intelligence (AI).

The rise of AI represents a generational, transformative technological shift that rivals, if not surpasses, the emergence of the internet or the spread of personal and cloud computing. Its effects will extend far beyond the technology industry, reshaping how companies operate, how people work, and how decisions are made. Over time, AI is likely to influence nearly every sector of the economy and become increasingly embedded in daily life. Its full consequences will unfold over many years, creating significant opportunities as well as difficult challenges.

The scale of AI-related capital expenditures

As AI continues to change the nature of cybersecurity and modern warfare, and to drive advances in medicine, manufacturing and logistics, communications, software development, and many other fields, it will require significant ongoing investment.

In May 2026, Goldman Sachs published a lengthy, high-level look at the projected growth of AI-related capital expenditures—and the assumptions and drivers behind them, noting the following:

“The scale of these expenditures is enormous. Estimates of $4 trillion to $8 trillion of total capital investment over the next five years have featured prominently in recent market commentary. That capital is used to buy new chips, build new data centers, and construct new power, all in an effort [to] assemble sufficient computing infrastructure to meet the moment. Debates about whether this figure is ‘too high’ are usually framed around a demand-side question: Will AI adoption and monetization justify the spend?”

Although the answer may be unknowable today, the sheer magnitude of the projected spending is impressive.

The changing dynamics of AI infrastructure and AI hyperscalers

The artificial-intelligence trade is starting to split into two distinct groups: the companies supplying the infrastructure needed to power AI, and the large technology companies racing to build AI into their products, platforms, and business models.

The first group includes the “picks and shovels” of the AI build-out: chips, data centers, power, cooling, networking, memory, and other critical components. The second group includes many of the best-known platform companies, which are spending heavily to develop, deploy, and monetize AI capabilities.

That distinction matters because the economics of the AI boom may not be evenly distributed. Infrastructure companies may benefit more directly from the current capital-spending cycle as demand for computing power, storage, energy, and specialized hardware continues to rise. Meanwhile, the companies building AI applications still have to prove that their investments can translate into durable revenue growth, margin expansion, and shareholder returns.

MarketWatch recently reported on analysis from Holt, UBS’s research unit, which said that artificial-intelligence infrastructure stocks are set to vastly outperform most of the “Magnificent Seven” technology companies:

“Three years ago, Holt’s framework ranked Apple, Microsoft, Alphabet, Meta and Amazon as the top five economic profit generators in the industry. For 2027, Nvidia, Samsung, SK Hynix, Micron and Alphabet are in the lead.”

The following chart illustrates how one segment of the infrastructure build-out—semiconductors—outperformed the Magnificent Seven during the first half of 2026.

The vast, unpredictable opportunity of AI

The following chart shows the gap between AI’s theoretical capabilities and its observed use across occupational categories. Note that Anthropic, the company that conducted the analysis, develops large language models (LLMs) and agentic workflows.

One commentator described the implications of that gap this way:

“In most knowledge work roles, computer science, finance, management, AI could theoretically handle 80-95% of tasks. Real usage is closer to 15-40%.

“That’s not just a workflow problem. The technology is still immature. … Most businesses can’t bet core operations on a tool that’s still figuring itself out.

“Adoption is going to take years. That’s not pessimism, that’s just how it goes with any major technology shift. …”

Balancing AI investment exposure with risk management

Even the largest technology companies could come under pressure if their extraordinary spending on AI infrastructure fails to produce adequate returns. As a result, the eventual winners and losers may be more numerous—and less predictable—than the initial boom in several well-known stocks might suggest.

Whether the AI trade is overvalued is a subject of intense debate among financial analysts. Pure-play AI analytics and software companies can command elevated price-to-earnings ratios as investors price in expectations for rapid future growth. Some economists warn that market concentration and stretched multiples resemble the dot-com bubble. Others point to tangible AI-related revenue and suggest that using low-cost index funds may help reduce the risk associated with owning individual stocks.

Yet financial advisers say that fear of missing out, or FOMO, is a very real concern among clients—one that broader index funds may not fully address.

What if advisers could help clients gain more direct exposure to some of the biggest, most visible names in the S&P 500 and NASDAQ while also incorporating risk-management tools?

In late 2025, Flexible Plan Investments (FPI) launched FlexDirex, the first U.S. suite of actively managed strategies using leveraged and inverse single-stock ETFs.

FlexDirex includes two offerings—Tech Plus and Focused Core—designed to give financial advisers tactical options for both growth-oriented and more diversified portfolios. Both use Direxion single-stock ETFs, which seek daily leveraged or inverse exposure to individual stocks. Direxion is a leading provider of tactical ETFs.

Most relevant to this discussion is the Tech Plus strategy, which is designed for investors and advisers managing portfolios with QQQ exposure. It offers a focused, tactically managed way to participate in the performance of many major technology names while seeking to manage volatility and concentration risk. The strategy is intended for aggressive growth investors who want to enhance or hedge NASDAQ-heavy exposure. It is also designed to pursue opportunities in both rising and falling high-volatility stocks.

While it might be immodest to call FlexDirex a generational product, it offers advisers and their clients what FPI President and CIO Jerry Wagner calls “a significant step forward in ETF innovation.”

You can learn more about FlexDirex here or watch a replay of a recent webinar about the strategies here (the webinar is for financial professionals only).

Market Update 7/13/26

Tue, 14 Jul 2026 02:54:00 GMT

By Will Hubbard

Market snapshot

• Equities: The major U.S. indexes finished mostly higher on a tech-led advance. The S&P 500 rose 1.26%, the NASDAQ Composite gained 1.74%, and the large-cap NASDAQ 100 added 1.70%. The Dow Jones Industrial Average slipped 0.48%.

• Fixed income: Treasury yields advanced, with the 10-year ending the week at 4.56%.

• Gold and commodities: Gold fell 0.06%. The U.S. dollar was up 0.09%.

• Market indicators and outlook: Most of our tactical strategies benefited from the strength in technology shares, while our fixed-income strategies remained defensively positioned as yields climbed. Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold, though gold has also experienced meaningful drawdowns in this environment. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Rising, which favors stocks over gold and then bonds.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Equities

Information Technology led the market, gaining 3.43% for the week. However, participation was relatively narrow, with only five of the S&P 500’s 11 sectors finishing higher. Bespoke Investment Group has noted the divergence between rising headline indexes and weaker participation beneath the surface.

Rising technology-component costs may also bear watching. According to Bespoke, Apple raised iPad and Mac prices, while Microsoft increased Xbox prices for the third time in 13 months. These increases may be linked in part to memory costs, which have climbed to more than 2.5 times over the same period. Rising component costs are beginning to feed through to sticker prices, and the margin and inflation signal is worth tracking under the rally.

Why it matters: Concentrated leadership can carry the indexes, but it also leaves the advance dependent on a single sector. Bonds remained firm alongside stocks, favoring equities for the week, though narrow sector participation raises questions about the breadth and durability of the move.

Fixed income

The 10-year Treasury yield finished the week at 4.56%, its highest level in several weeks. As yields rose, Treasury prices declined, making duration a headwind during the period.

The move reflected continued expectations for resilient economic growth and fewer near-term Federal Reserve rate cuts. Investors also weighed the longer-term implications of persistent federal borrowing and Treasury issuance, which have contributed to elevated yields this year.

While stocks continued to move higher, bonds offered little diversification during the week. Rising yields alongside rising equity prices suggest investors remained comfortable taking risk rather than seeking the safety of Treasurys.

Gold and commodities

Gold was essentially flat for the week, with spot bullion falling 0.06%. Neither the safe-haven bid nor the risk-on rally in equities pulled it far from where it started.

A firmer U.S. dollar gets much of the credit for capping the move. The U.S. Dollar Index ticked up 0.09%. Because gold is priced in U.S. dollars, even a small increase in the greenback can make the metal more expensive for buyers using other currencies. That seemed to be enough of a headwind to keep gold from gaining traction.

As previously noted, Bespoke Investment Group has reported a sharp increase in memory-chip prices, which has contributed to higher hardware prices from Apple and Microsoft. So far, however, those cost pressures have not materially affected broader inflation measures such as core personal consumption expenditures, the Fed’s preferred inflation gauge. A relatively stable inflation outlook may have limited demand for gold as an inflation hedge during the week.

Flexible Plan Investments (FPI) is the subadviser to the only U.S. gold mutual fund, The Quantified Gold Futures Tracking Fund. Launched in 2013, the fund is designed to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

The indicators

Our equity signals moved firmly risk-on this week. The QFC Self-adjusting Trend Following strategy remained levered at 200% long throughout the week. The QFC S&P Pattern Recognition strategy maintained a 200% net-long position throughout the week. Our QFC Political Seasonality Index was in its risk-on posture throughout the week. (The QFC Political Seasonality Index is available—with all the daily signals—post-login in our Weekly Performance Report section under the Domestic Tactical Equity category).

Our intermediate-term tactical strategies have been varied in their degree of defensive positioning. The key advantage these strategies offer investors is their ability to adapt to changing market environments, participating during uptrends and moving to a defensive posture during downtrends.

The Volatility Adjusted NASDAQ strategy started the week 80% long, moved to 60% long on Monday’s close, and returned to 80% long on Tuesday’s close. It increased to 100% long on Thursday’s close and remained there through the end of the week. The Systematic Advantage strategy started the week 60% long, increased to 120% long on Thursday’s close, and dropped to 90% long on Friday to end the week. These strategies can employ leverage, so their exposure may exceed 100% at times.

Our Classic model was fully risk-on all week. Most Classic accounts follow a signal that can change exposure within a week, though a few remain on platforms requiring up to a month to adjust to new signals.

FPI’s Growth and Inflation measure, one of our Market Regime Indicators, shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 75% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Stocks have the highest rate of return in Normal periods. Gold has the second-highest return but has also experienced high drawdowns in these environments.

Our S&P volatility regime is registering a High and Rising reading, which favors stocks over gold and then bonds from an annualized return standpoint. The combination has occurred 28% of the time since 2003.

Quantified Funds 7/13/26

Mon, 13 Jul 2026 16:27:00 GMT

U.S. equity markets posted gains in two of the three indexes last week. The S&P 500 gained 1.26%, the NASDAQ Composite advanced 1.74%, and the Dow Jones Industrial Average fell 0.48%.

Five of the 11 sectors were up last week, led by Information Technology, which gained 3.43%.

Eight of the 12 Quantified Funds were up last week: The Quantified STF Fund (QSTFX) rose 3.43%, the Quantified Global Fund (QGBLX) gained 2.59%, the Quantified Pattern Recognition Fund (QSPMX) added 2.52%, the Quantified Evolution Plus Fund (QEVOX) increased by 2.20%, the Quantified Common Ground Fund (QCGDX) rose 2.15%, the Quantified Market Leaders Fund (QMLFX) gained 1.22%, the Quantified Tactical Sectors Fund (QTSSX) advanced 0.93%, and the Quantified Alternative Investment Fund (QALTX) increased by 0.76%. The Quantified Managed Income Fund (QBDSX), the Quantified Government Income Tactical Fund (QGITX), the Quantified Rising Dividend Tactical Fund (QRDTX), and the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) all returned 0%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Value (6.34%), Small-Cap Value (12.88%), Small-Cap Growth (25.94%), 2X S&P 500 and 2X NASDAQ 100 exposure (25.00%), Industrials (7.18%), Info Technology (7.18%), Emerging Markets (19.42%), Technology (7.18%), Financials (7.18%), and single-stock ETFs (2X or -1X) (5%).

The cash level within the Quantified Alternative Investment Fund decreased by 1.66% last week (27.13%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the VanEck Agribusiness ETF (MOO, 1.30%) increased by 1.30%, while allocation to the VanEck Natural Resources ETF (HAP, 3.61%) decreased by 0.51%. Last week, the funds were up 0.07% and down 0.29%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 4% net long exposure. On Monday, the position changed to a 3% net long exposure. On Tuesday, the position shifted to a 4% net long exposure. On Thursday, the position moved to a 5% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 10% net short exposure. On Tuesday, the position switched to a 12% net long exposure. On Wednesday, the position switched to a 10% net short exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) held a 200% net long exposure throughout the week. The Quantified STF Fund (QSTFX) was up 3.43% for the week, compared to a gain of 1.70% for the NASDAQ 100 Index (NDX) and a gain of 1.67% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 27.20%) and the State Street SPDR Bloomberg Convertible Securities ETF (CWB, 6.80%). Last week, the securities were down 0.07% and up 0.82%, respectively. The cash allocation was at 14.41%.

The 10-year U.S. Treasury closed the week up 1.72%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with a 15% net short exposure. On Tuesday, the position shifted to an 18% net long exposure. On Wednesday, the position switched to a 15% net short exposure. The S&P 500 E-mini futures held a 0% net long exposure throughout the week.

The Quantified Pattern Recognition Fund (QSPMX) held a 200% net long exposure throughout the week.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 62.40% net long exposure to Treasurys. On Monday, the position switched to a 1.10% net short exposure to Treasurys. On Tuesday, the position switched to a 62.40% net long exposure to Treasurys. On Wednesday, the position shifted to a 3.90% net long exposure to Treasurys. On Friday, the position shifted to an 8.80% net short exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 66% in the S&P 500, 16% in the Russell 2000, 15% in emerging markets, and 3% in the NASDAQ 100.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Costco Wholesale Corp. (COST, 8.89%) and Broadcom Inc. (AVGO, 8.61%). Last week, the securities were down 3.72% and up 10.96%, respectively. The cash allocation was at 6.40%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 33.74%) and the Invesco QQQ Trust Series 1 (QQQ, 11.44%). Last week, the securities were up 1.37% and 1.81%, respectively. The cash allocation was at 2.99%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the State Street Technology Select Sector SPDR ETF (XLK, 39%), the State Street Financial Select Sector SPDR ETF (XLF, 39%), the State Street Industrial Select Sector SPDR ETF (XLI, 39%), and the Vanguard Information Technology ETF (VGT, 39%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

As of the most recent prospectus, the expense ratios for the Quantified Gold Futures Tracking Fund are as follows: Investors’ Class (No Load), 1.50%; Class A, 1.50%; Class C, 2.10%. The maximum sales charge imposed on Class A share purchases (as percentage of offering price) is 5.75%. An additional 2% redemption fee applies to all share classes, including Investors’ Class, when shares are redeemed within 7 days of purchase.

The performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate and an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. To obtain performance data current to the most recent month-end please call 1-855-647-8268.

Risks associated with the Quantified Funds include active frequent trading risk, aggressive investment techniques, small and mid-cap companies risk, counter party risk, depository receipt risk, derivatives risk, equity securities risk, foreign securities risk, holding cash risk, limited history of operations risk, lower quality debt securities risk, convertible bond risk, non-diversification risk, investing in other investment companies (including ETFs) risk, shorting risk, asset backed securities risk, commodity risk, credit risk, interest risk, prepayment risk, mortgage backed securities risk, hedging and leverage risk, preferred stock risk, and MLP and REIT risks. For detailed information relating to these risks, please see prospectus.

The principal risks of investing in The Quantified Gold Futures Tracking Fund are Risks of the Sub-advisor’s Investment Strategy, Risks of Aggressive Investment Techniques, High Portfolio Turnover, Risk of Investing in Derivatives, Risks of Investing in ETFs, Risks of Investing in Other Investment Companies, Leverage Risk, Taxation Risk, Concentration Risk, Gold Risk, Wholly-owned Corporation Risk, Risk of Non-Diversification and interest rate risk. “Gold Risk” includes volatility, price fluctuations over short periods, risks associated with global monetary, economic, social and political conditions and developments, currency devaluation and revaluation and restrictions, trading and transactional restrictions.

An investor should carefully consider the investment objectives, risks, charges and expenses of the funds before investing. This and other information can be found in the funds’ prospectus and summary prospectus, which can be obtained by calling 1-855-650-7453. The prospectus should be read carefully before investing. There is no guarantee that any of the Quantified Funds or Quantified Gold Futures Tracking Fund will achieve their investment objectives.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 7/13/26

Mon, 13 Jul 2026 16:25:00 GMT

Last week, the gold spot price fell 0.06%, and the U.S. Dollar Index rose 0.09%. The Quantified Gold Futures Tracking Fund (QGLDX) lost 0.31% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., declined 0.29% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.06%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

Holding investor hands through market ups and downs

Tue, 07 Jul 2026 03:46:00 GMT

by Jerry Wagner

Hand-holding. We learned to do it innocently as children, and it continues to carry meaning throughout our lives.

Whether providing comfort, assurance, or assistance, holding hands can be a powerful gesture. As Toni Coleman, LCSW, a psychotherapist and relationship coach, explains, “Research shows that touch, like holding hands, releases oxytocin, a neurotransmitter that gives you that feel-good buzz.”

In the world of investing, hand-holding takes on a figurative meaning. Financial advisers often serve as a steadying presence for investors during turbulent times, offering reassurance and support. This is particularly important when investors face uncertainty and may feel anxious about their portfolios.

How advisers “hold your hand” through tough times

One prominent value proposition often pops up on the websites of advisers: “We’ll help you manage your investment behavior.”

For most advisory services using such a value proposition, they really mean, “We’ll hold your hand when the bear market comes.” Their primary purpose is to support a “buy-and-hope” mode of investing by working to keep you invested and to avoid the common investor mistake of selling out at or near market bottoms.

The previously referenced article tells us that there are at least seven different ways we can hold hands. I think numbers four (the firm but non-interlaced grip) and six (one hand gently resting on top) may be applicable here.

In hand-holding technique number four, the article says, “The hand-holder may be tightening their grip in a protective way to offer comfort or reassurance if the other is anxious. ...”

I think this is the primary grip used in adviser-investor hand-holding. The adviser is trying to comfort the investor and reassure them that they are doing the right thing in waiting out a market decline.

However, if the decline lasts long enough, the hand-holding may change character. With hand-holding technique number six, the article says it doesn’t necessarily mean that you are “doomed,” but you do need to pay attention: “When you put your hand on top of someone else’s and let it rest for a minute while you speak, it may mean that you’re delivering bad news.”

Can we alleviate the need for investor hand-holding?

The significant declines (the 50% to 75% variety) we’ve experienced this century meant different things to different investors. Some were young and had time to start over again. Others were older and saw their dreams of an early retirement substantially delayed or abandoned. Some retired investors were forced to return to the workforce or materially reduce their standard of living.

When I started Flexible Plan Investments (FPI) in 1981, I did so with the belief that I could create a different type of asset-management service. My market timing would be so accurate that it would alleviate the need for investor hand-holding.

In the 45 years that we have been in business, I learned that no market-timing approach is so consistently precise in its timing that counseling isn’t still needed. As I moved into using trend-following strategies, in search of wealth-preservation methods for different asset classes, I had to settle for trades “close to” bottoms and tops instead of being precisely at them.

Since trend following works in many but not all market environments, I sought other types of strategies. Finally, I realized that only by using multiple types of strategies in a single portfolio could I get close to my goal.

But, alas, perfection is elusive, or more accurately, impossible. I have not been able to eliminate the need for anxious clients to seek counsel (and, yes, hand-holding); hopefully, our approach has reduced the need.

The value of dynamic risk management in volatile times

When global politics and economic events cause markets to become more volatile, it’s not surprising that investors look for hand-holding. Even financial advisers who work with us need to spend some hand-holding time with their clients. Part of that time is used to explain the value of an asset manager, such as FPI, that employs dynamic risk management.

First, and most importantly, investors use us so that they don’t have to make their own investment decisions. They don’t have to try to understand the conflicting messages of the markets. They don’t have to worry about being right or wrong. We take all the actions for them.

Dynamic risk management allows for a proactive response to changing market conditions. By using multiple strategies in a single portfolio, it’s possible to manage risk more effectively and help investors navigate uncertain markets.

At FPI, we’ve developed a range of tactical strategies designed to manage risk across different market environments. While no strategy can eliminate the need for reassurance, our approach seeks to reduce the frequency and intensity of those hand-holding moments.

How we can help make hand-holding conversations more valuable

Even with dynamically risk-managed strategies in place, there will always be times when investors need guidance and support. Your financial adviser is well-equipped to offer this, using the tools and resources we offer to help investors evaluate their FPI portfolios and stay on track.

For example, the OnTarget Benchmark Monitor (available after you log in to your account on the OnTarget Investing website, ontargetinvesting.com) helps you see how your investments are performing relative to customized benchmarks, providing clarity and insight.

Ultimately, while hand-holding may be necessary during volatile periods, a thoughtful and dynamically risk-managed approach to portfolio management can help both advisers and investors feel more confident about the future. As always, we at FPI are here to help both of you work toward that goal.

Market Update 7/6/26

Tue, 07 Jul 2026 02:35:00 GMT

By Will Hubbard

Market snapshot

• Equities: Stocks posted broad gains during the holiday-shortened week. The S&P 500, Dow Jones Industrial Average, and NASDAQ Composite each reached record highs. Eight of 11 sectors finished higher, led by Communication Services, which gained 4.97%.^1,2,3

• Fixed income: Treasurys dipped as yields moved higher, with the 10-year ending the week at 4.49%.^13,21

• Gold and commodities: Gold rose 0.82%. The U.S. Dollar Index declined 0.49%, providing some support. A weaker dollar can make gold less expensive for buyers using other currencies.^16,20

• Market indicators and outlook: Equity signals were firmly risk-on this week, though some scaled back ahead of the long holiday weekend. Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold, though gold has also experienced meaningful drawdowns in this environment. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Rising, which favors stocks over gold and then bonds.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Equities

Stocks began the third quarter with broad gains and new records despite the holiday-shortened week. The S&P 500 rose 1.78%, the Dow Jones Industrial Average added 1.99%, and the NASDAQ Composite led the major indexes with a gain of 2.12%. All three set record highs.^1,3 The Dow drew the most attention, closing near 52,900 midweek before briefly moving above 53,000 for the first time as the new week began.^2,23

The gains were not driven solely by the usual mega-cap leaders. The NASDAQ 100 rose only 0.73%, trailing the broader NASDAQ Composite by a wide margin.^1,2 Eight of 11 S&P 500 sectors advanced, and the Russell 2000 reached an all-time high, completing its best first half since 1991 as investors moved beyond large technology companies.¹⁰ Bespoke Investment Group cited the improvement in breadth as support for the bullish case.¹¹

Communication Services led all sectors with a 4.97% gain. Meta rose about 9% after announcing plans for a cloud business that would sell excess AI computing capacity, reportedly through arrangements involving Anthropic and Google.⁷ Investors viewed the announcement as a potential offset to concerns about Meta’s rising AI capital spending, helping the sector advance despite uneven performance among other mega-cap technology stocks.^8,9

Semiconductors were the main reason the NASDAQ 100 lagged. The VanEck Semiconductor ETF fell more than 5% on July 1 as investors took profits following a record quarter in which the group gained roughly 71%. Micron declined by about 11%.¹² That early decline limited the NASDAQ 100’s weekly gain to 0.73%, even as the Dow reached new highs. Semiconductor shares later stabilized and participated in the rebound as the Dow moved above 53,000.²

Economic data also supported the move. June payroll growth fell well short of expectations, while unemployment edged lower.^4,5 Investors generally took the combination as consistent with the Federal Reserve remaining on hold.

Broader participation matters because it reduces the market’s dependence on a small group of stocks. With eight sectors advancing and small caps leading, the week’s gains were less concentrated than they have often been. That does not eliminate risk, but it lowers the immediate vulnerability to a reversal in a single crowded trade. Our equity signals moved firmly risk-on, though exposure remains measured given the strength of current risk appetite.

Fixed income

The 10-year Treasury yield rose from approximately 4.37% to 4.49% during the holiday-shortened week.^13,21 The increase weighed on Treasury prices and reflected continued uncertainty around inflation, economic growth, and the Federal Reserve’s next move.²²

Yields briefly pulled back after June payroll growth fell short of expectations, but that reaction did not hold.^4,14 The 10-year yield recovered as investors weighed the softer hiring number against a decline in the unemployment rate and broader concerns that inflation could keep long-term rates elevated.^15,21 Despite signs of cooling in the labor market, the week’s move suggested that bond investors remain hesitant to price in a sustained decline in longer-term interest rates.

Gold and commodities

Gold rose 0.82% for the week, while Comex gold futures gained 0.72%. The U.S. Dollar Index declined 0.49%, providing some support. A weaker dollar can make gold less expensive for buyers using other currencies.²⁰

Within Flexible Plan Investments (FPI’s) lineup, the Quantified Gold Futures Tracking Fund (QGLDX) returned 1.22%, ahead of spot gold’s 0.82% gain. Launched in 2013, the Quantified Gold Futures Tracking Fund is designed to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

Gold continues to serve as a useful diversifier, and our positioning treats it as a complement to equity exposure rather than solely as protection during severe market stress.

The indicators

Our equity signals moved firmly risk-on this week. The QFC Self-adjusting Trend Following strategy began the week in cash, with 0% leverage from the prior Friday through Tuesday. It moved to 200% leverage on Wednesday and remained there throughout the week. The QFC S&P Pattern Recognition (QSPMX) strategy maintained a 200% net-long position throughout the week. Our QFC Political Seasonality Index was in its risk-on posture for the duration of the week. (The QFC Political Seasonality Index—with all of the daily signals—is available post-login in our Weekly Performance Report section under the Domestic Tactical Equity category).

Our intermediate-term tactical strategies have been varied in their degree of defensive positioning. The key advantage these strategies offer investors is their ability to adapt to changing market environments—participating during uptrends and moving to a defensive posture during downtrends.

The Volatility Adjusted NASDAQ strategy started the week 40% long and moved to 60% long on Monday’s close. It increased to 80% long on Thursday’s close. The Systematic Advantage strategy started the week 90% long. It reduced exposure to 60% on Thursday’s close. These strategies can employ leverage, so their exposure may exceed 100% at times.

Sources

1. https://www.cnbc.com/2026/07/01/stock-market-today-live-updates.html

2. https://www.cnbc.com/2026/07/05/stock-market-today-live-updates.html

3. https://www.troweprice.com/personal-investing/resources/insights/global-markets-weekly-update.html

4. https://www.cnbc.com/2026/07/02/jobs-report-june-2026-.html

5. https://www.bls.gov/news.release/empsit.nr0.htm

6. https://media.bespokepremium.com/uploads/2026/06/062526-The-Closer-–-Breadth-Disconnects-Price-Hikes-PCE-–-43twrgeh46rthn.pdf

7. https://www.cnbc.com/2026/07/01/meta-stock-cloud-ai-compute.html

8. https://www.cnbc.com/2026/07/01/metas-plan-to-launch-a-cloud-business-eases-the-biggest-overhang-on-the-stock.html

9. https://www.cnbc.com/2026/07/02/metas-push-into-cloud-excites-wall-street-despite-lower-margins.html

10. https://www.cnbc.com/2026/06/30/small-cap-stocks-enjoy-best-first-half-since-1991-as-ai-trade-expands.html

11. https://media.bespokepremium.com/uploads/2026/06/TBR-Pros-and-Cons-Q326.pdf

12. https://www.cnbc.com/2026/07/01/chip-stocks-notched-record-rallies-in-second-quarter-start-q3-with-dud.html

13. https://www.cnbc.com/2026/07/02/us-treasury-yields-rise-as-investors-await-june-jobs-report.html

14. https://www.bloomberg.com/news/articles/2026-07-02/bonds-rally-as-weak-jobs-report-dims-fed-rate-hike-expectations

15. https://www.bls.gov/news.release/archives/empsit_07022026.htm

16. https://www.cnbc.com/2026/07/03/gold-silver-price-inflation-fed-rate-hike.html

17. https://www.kitco.com/news/article/2026-07-02/gold-bulls-charge-back-wall-street-and-main-street-after-weak-jobs-report

18. https://www.kitco.com/news/article/2026-07-06/gold-slips-fed-minutes-loom-hormuz-risk-eases-oil-shock-kitco-am-report

19. https://www.kitco.com/opinion/2026-07-01/gold-and-silver-reset-setup-heading-q3

20. https://tradingeconomics.com/united-states/currency

21. https://www.cnbc.com/2026/07/01/treasury-yields-us10y-kevin-warsh-fed.html

22. https://www.cnbc.com/2026/06/17/fed-interest-rate-decision-june-2026.html

23. https://www.cnbc.com/2026/07/02/dow-rides-into-new-week-at-record-high-what-investors-are-watching-ahead.html

Quantified Funds 7/6/26

Mon, 06 Jul 2026 19:18:02 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 gained 1.78%, the NASDAQ Composite increased by 2.12%, and the Dow Jones Industrial Average rose 1.99%.

Eight of the 11 sectors were up last week, led by Communication Services, which gained 4.97%.

Six of the 12 Quantified Funds were up last week: The Quantified Pattern Recognition Fund (QSPMX) rose 3.43%, the Quantified Tactical Sectors Fund (QTSSX) was up 3%, the Quantified Rising Dividend Tactical Fund (QRDTX) gained 2.38%, the Quantified Evolution Plus Fund (QEVOX) added 1.55%, the Quantified Global Fund (QGBLX) rose 1.31%, the Quantified Market Leaders Fund (QMLFX) advanced 0.08%, the Quantified Managed Income Fund (QBDSX) returned 0%, the Quantified Alternative Investment Fund (QALTX) lost 0.19%, the Quantified Government Income Tactical Fund (QGITX) fell 0.30%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) decreased by 0.88%, the Quantified Common Ground Fund (QCGDX) fell 1.18%, and the Quantified STF Fund (QSTFX) declined 3.12%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Value (6.34%), Small-Cap Value (12.88%), Small-Cap Growth (25.94%), 2X S&P 500 and 2X NASDAQ 100 exposure (25%), Industrials (7.18%), Info Technology (7.18%), Emerging Markets (19.42%), Technology (7.18%), Financials (7.18%), and single-stock ETFs (2X or -1X) (5%).

The cash level within the Quantified Alternative Investment Fund increased by 0.56% last week (28.79%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the VanEck Natural Resources ETF (HAP, 4.11%) increased by 0.86%, while allocation to the FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, 0%) decreased by 0.94%. Last week, the funds were up 1.14% and 1.01%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 2% net long exposure. On Monday, the position switched to a 3% net long exposure. On Thursday, the position changed to a 4% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 12% net long exposure. On Tuesday, the position changed to a 10% net short exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) started the week with a 0% net long exposure. On Wednesday, the position shifted to a 200% net long exposure. The Quantified STF Fund (QSTFX) lost 3.12% for the week, compared to a gain of 0.73% for the NASDAQ 100 Index (NDX) and a gain of 0.71% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 26.80%) and the Alerian MLP ETF (AMLP, 6.80%). Last week, the securities were down 0.01% and up 1.21%, respectively. The cash allocation was at 14.41%.

The 10-year U.S. Treasury closed the week up 2.61%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with an 18% net long exposure. On Tuesday, the position moved to a 15% net short exposure. The S&P 500 E-mini futures started the week with a 1.50% net short exposure. On Thursday, the position switched to a 0% net long exposure.

The Quantified Pattern Recognition Fund (QSPMX) held a 200% net long exposure throughout the week.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 39% net long exposure to Treasurys. On Tuesday, the position reallocated to a 50.70% net long exposure to Treasurys. On Wednesday, the position switched to a 33% net short exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 65% in the S&P 500, 16% in the Russell 2000, 16% in emerging markets, and 3% in the NASDAQ 100.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Costco Wholesale Corp. (COST, 8.89%) and Broadcom Inc. (AVGO, 8.61%). Last week, the securities were down 0.09% and 1.25%, respectively. The cash allocation was at 6.40%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 33.74%) and the Invesco QQQ Trust Series 1 (QQQ, 11.44%). Last week, the securities were up 2.17% and 0.86%, respectively. The cash allocation was at 2.99%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Invesco S&P 500 Equal Weight ETF (RSP, 56%), the State Street Technology Select Sector SPDR ETF (XLK, 25%), the State Street Financial Select Sector SPDR ETF (XLF, 25%), the State Street Industrial Select Sector SPDR ETF (XLI, 25%), and the Vanguard Information Technology ETF (VGT, 25%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 7/6/26

Mon, 06 Jul 2026 19:16:37 GMT

Last week, the gold spot price rose 0.82%, and the U.S. Dollar Index fell 0.49%. The Quantified Gold Futures Tracking Fund (QGLDX) advanced 1.22% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., was up 0.72% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.09%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (6/30/26)

Year-To-Date Ending (6/30/26)

1 Year Ending (6/30/26)

3 Years Ending (6/30/26)

5 Years Ending (6/30/26)

10 Years Ending (6/30/26)

Since * Inception Ending (6/30/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

(14.37%)

(7.22%)

19.34%

24.96%

14.55%

8.69%

6.87%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

(0.76%)

(0.12%)

2.52%

0.60%

0.54%

0.69%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

22.13%

20.41%

31.42%

11.69%

1.96%

10.45%

8.47%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

0.38%

4.52%

14.81%

7.68%

3.76%

4.19%

3.63%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

42.48%

25.73%

42.64%

20.69%

10.55%

19.44%

16.07%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

8.58%

14.65%

19.25%

11.45%

8.34%

N/A

10.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

6.91%

50.00%

69.20%

21.76%

9.13%

N/A

6.87%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

2.73%

(4.65%)

15.19%

10.28%

7.33%

N/A

10.58%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

22.28%

17.32%

29.78%

11.43%

(1.97%)

N/A

(0.84%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

14.70%

12.37%

19.43%

13.02%

2.42%

N/A

2.79%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(3.49%)

(4.87%)

(2.64%)

(2.55%)

(5.58%)

N/A

(5.20%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

(2.41%)

1.45%

7.99%

N/A

11.80%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

3.25%

(2.21%)

(7.51%)

N/A

(10.69%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

Financial lessons from the Founding Fathers

Tue, 30 Jun 2026 03:09:00 GMT

By David Wismer

As the Fourth of July approaches and our country marks its Semiquincentennial (the 250th anniversary of the Declaration of Independence), it’s a good time to look back at what some of the Founding Fathers said about money, wealth, and finances.

At a time of great political division, it’s important to note that the founders did not claim to have created a perfect nation—but rather “a more perfect Union.”

Even with some shortcomings at its founding, the United States remains one of the world’s most enduring self-governing republics—and arguably the most successful.

A recent Newsweek editorial piece commented on the reaction of visitors to the U.S. during the ongoing World Cup matches:

“Americans are routinely told that our nation is hopelessly divided, irredeemably flawed, and perhaps even in terminal decline. …

“But something remarkable is happening during the 2026 World Cup. … Fans from all across the world have arrived in America—and they are absolutely loving it. We too often take our way of life for granted, but many soccer tourists now here cannot stop marveling at what they see.

“America, like every country, has problems. The risk of prolonged decline is very real. Patriotism also does not require pretending that everything is perfect.

“But it does require perspective—and, above all, gratitude.”

The Founding Fathers and finance

According to many sources, seven of the most important Founding Fathers were instrumental both at the time of the Declaration of Independence and in later roles for the new nation: George Washington, Thomas Jefferson, Benjamin Franklin, John Adams, James Madison, Alexander Hamilton, and John Jay.

The historian Richard B. Morris identified key founders based on what he called the “triple tests” of leadership, longevity, and statesmanship. Some add others to the list of most important founders, including Robert Morris, Thomas Paine, John Hancock, and James Wilson.

The founders often came from widely divergent backgrounds and held conflicting views on many key topics, from American foreign policy to the role of banking, public versus private finance, abolition, and the relative importance of a domestic agrarian versus international mercantile economy.

The late Cornell historian Walter LaFeber, known for a half-century of interpreting American history and foreign relations, did not write a definitive book on the Founding Fathers. However, he addressed their ideological differences in his broader scholarship on the U.S. Constitution and foreign policy, arguing that clashes between figures like Alexander Hamilton and Thomas Jefferson established the fundamental, enduring tension between American capitalism and republican democracy.

The History Channel has an interesting perspective on the Founding Fathers, noting that they pledged to risk “our lives, our fortunes and our sacred honor.” While the risk to life was clear for many founders, the Declaration of Independence and subsequent war and nation-building also had negative financial consequences for several leading figures, including Washington, Jefferson, Adams, and Morris. Even Hamilton, the financial architect of the new nation, wasn’t immune.

Some practical monetary advice

The Founding Fathers believed that personal enterprise, financial independence, and broad-based property ownership were essential to protecting individual liberty. While many were wealthy, they generally championed frugality, warned against the dangers of personal debt, and noted the power of compounding wealth.

Many quotations and sayings about money have been attributed to the founders. Here are a few that reflect themes often associated with their writings and public lives.

George Washington:

“To contract new debts is not the way to pay old ones. … We must consult our means rather than our wishes.”

“System in all things is the soul of business. To deliberate maturely & execute promptly is the way to conduct it to advantage. With me, it has always been a maxim. …”

Alexander Hamilton:

“Money is, with propriety, considered as the vital principle of the body politic; as that which sustains its life and motion, and enables it to perform its most essential functions.”

“Industry is increased, commodities are multiplied, agriculture and manufacturers flourish: and herein consists the true wealth and prosperity of a state.”

Thomas Jefferson:

“Never spend your money before you have it.”

“I know nothing more important to inculcate into the minds of young people than the wisdom, the honor, and the blessed comfort of living within their income.”

Benjamin Franklin is recognized as the only founder to sign all four key documents establishing the U.S. His prolific insights on money, wealth, and debt were popularized through his “Poor Richard’s Almanack” and the essay “The Way to Wealth”:

“Remember that time is money. … Lost time is never found again.”

“A penny saved is a penny earned.”

“Think what you do when you run in debt; you give to another power over your liberty.”

“Wealth is not his that has it, but his that enjoys it.”

“Money makes money. And the money that money makes, makes money.” (Colloquial version)

The power of compounding

Franklin famously put his words on compounding to a real-life test, according to several sources.

Upon his death in 1790, Franklin left 1,000 pounds each to the cities of Boston and Philadelphia “with strict instructions: the money was to be lent to young tradesmen for exactly 100 years.”

“Franklin calculated that after a century of compound growth, each fund would multiply substantially. … After 100 years, each city could spend part of the money on public works, but the remainder must continue growing for another 100 years. Franklin predicted that these funds would be worth millions after 200 years of compounding.”

His experiment proved highly successful, with each city’s fund growing into the multiple millions while also supporting public projects and helping to create The Franklin Institute of Philadelphia.

The power of compounding can affect many areas of investors’ financial lives, from simple CDs to college funds, real estate, and—perhaps most importantly—in their eventual investment outcomes.

It also lies at the heart of Flexible Plan Investments’ (FPI’s) risk-managed approach to long-term portfolio growth, where there can be a significant compounding advantage in seeking to mitigate deep portfolio losses through full market cycles.

Veteran strategist and trend follower Greg Morris put it well in an article for Proactive Advisor Magazine: “If you can avoid large negative months (or quarters, or years), your returns can compound at a higher rate over time since large negative numbers destroy compounding—it’s just math.”

As we look forward to July Fourth and the 250th anniversary, FPI wishes everyone a safe and enjoyable holiday—as well as continued success on their journeys toward financial independence now and in the future.

Market Update 6/29/26

Tue, 30 Jun 2026 02:01:00 GMT

By Daniel Poppe

Market snapshot

• Stocks: Stocks were mixed last week. The NASDAQ Composite fell 4.59%, the S&P 500 declined 1.94%, the Dow Jones Industrial Average gained 0.60%, and the Russell 2000 advanced 1.03%.

• Bonds: The 10-year Treasury yield fell from 4.46% to 4.38% last week.

• Gold: Spot gold fell 2.88% for the week, closing above $4,000 an ounce.

• Market indicators and outlook: Market regime indicators show the market is in a Normal economic environment stage, which is historically positive for stocks, bonds, and gold, though gold has also experienced meaningful drawdowns in this environment. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Rising, which favors stocks over gold and then bonds.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The SPDR S&P 500 ETF (SPY), which tracks the performance of the S&P 500, finished the week below its 50-day moving average but above its 200-day moving average.

The S&P 500 gave back a small portion of the market’s substantial year-to-date gains last week as the AI rally paused.

The pullback comes as investors turn their attention to second-quarter earnings season. Companies reported robust earnings growth in the first quarter, and investors will be looking to see if that strength continues.

Oil prices fell sharply through most of June as negotiations helped ease tensions in the Middle East. The decline could help temper inflation concerns that had reemerged after recent higher readings.

Bonds

The iShares 7-10 Year Treasury Bond ETF (IEF), which tracks intermediate-term Treasury bonds, finished last week above both its 50-day and 200-day moving averages.

The recent decline in oil prices has helped bonds recover. Potentially lower inflation gives the Federal Reserve more room to keep rates at less restrictive levels than it might otherwise need to set them.

The Federal Open Market Committee met this month for the first time with Kevin Warsh serving as the new Fed chair. As expected, the Fed kept its target rate unchanged. However, the outlook may be more hawkish. According to CME FedWatch, the market currently sees a meaningful chance of a 25-basis-point hike at the Fed’s July meeting.

Gold

The SPDR Gold Shares ETF (GLD), which tracks the price of gold, finished the week below both its 50-day and 200-day moving averages.

FPI’s indicators

The QFC S&P Pattern Recognition strategy’s primary signal started the week with a 110% net long exposure to the S&P 500. Exposure changed to 80% net long on Monday, 120% net long on Wednesday, and 200% net long on Thursday.

Our QFC Political Seasonality Index strategy was defensive at the beginning of the week, then shifted to an aggressive posture on Friday. (Our QFC Political Seasonality Index—with all of the daily signals—is available after login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

The Volatility Adjusted NASDAQ strategy started the week with a 20% net long exposure to the NASDAQ 100. Exposure changed to 0% net long on Monday, 40% net long on Tuesday, 20% net long on Wednesday, and 40% net long on Thursday.

The Systematic Advantage strategy held a 90% net long exposure to the S&P 500 throughout the week.

Our QFC Self-adjusting Trend Following strategy’s primary signal was 0% net long the NASDAQ 100 throughout the week.

The Volatility Adjusted NASDAQ, Systematic Advantage, QFC Self-adjusting Trend Following, and the QFC S&P Pattern Recognition strategies can all employ leverage, so the investment positions may at times exceed 100%.

Our Classic model remained in stocks throughout last week. Most of our Classic accounts follow a signal that will allow the strategy to change exposure in as little as a week. A few accounts are on platforms that are more restrictive and can take up to one month to generate a new signal.

FPI’s Growth and Inflation measure, one of our Market Regime Indicators, shows that we are in a Normal economic environment stage (meaning a positive monthly change in prices and a positive monthly change in GDP). Historically, a Normal environment has occurred 75% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Stocks have the highest rate of return in Normal periods. Gold has the second-highest return but has also experienced high drawdowns in these environments.

Quantified Funds 6/29/26

Mon, 29 Jun 2026 18:51:51 GMT

U.S. equity markets posted gains in only one of the three indexes last week. The S&P 500 lost 1.94%, the NASDAQ Composite fell 4.59%, and the Dow Jones Industrial Average gained 0.60%.

Seven of the 11 sectors were up last week, led by Health Care, which gained 7.92%.

Two of the 12 Quantified Funds were up last week: The Quantified Rising Dividend Tactical Fund (QRDTX) rose 0.37%, the Quantified Managed Income Fund (QBDSX) was up 0.13%, the Quantified STF Fund (QSTFX) fell 0.20%, the Quantified Government Income Tactical Fund (QGITX) declined 0.30%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) lost 1.36%, the Quantified Tactical Sectors Fund (QTSSX) decreased by 1.88%, the Quantified Alternative Investment Fund (QALTX) fell 1.95%, the Quantified Pattern Recognition Fund (QSPMX) was down 2.19%, the Quantified Global Fund (QGBLX) dipped 3.06%, the Quantified Common Ground Fund (QCGDX) lost 3.70%, the Quantified Market Leaders Fund (QMLFX) declined 4.10%, and the Quantified Evolution Plus Fund (QEVOX) fell 4.75%.

The cash level within the Quantified Alternative Investment Fund increased by 0.41% last week (28.23%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the First Trust NASDAQ Technology Dividend Index Fund (TDIV, 1.27%) increased by 0.51%, while allocation to the iShares International Select Dividend ETF (IDV, 3.38%) decreased by 0.57%. Last week, the funds were down 4.54% and 1.83%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 1% net long exposure. On Monday, the position reallocated to a 0% net long exposure. On Tuesday, the position switched to a 2% net long exposure. On Wednesday, the position moved to a 1% net long exposure. On Thursday, the position reallocated to a 2% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 10% net short exposure. On Wednesday, the position shifted to a 12% net long exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) held a 0% net long exposure throughout the week. The Quantified STF Fund (QSTFX) went down 0.20% for the week, compared to a loss of 4.23% for the NASDAQ 100 Index (NDX) and a loss of 4.26% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 27.20%) and the Alerian MLP ETF (AMLP, 6.80%). Last week, the securities were up 0.24% and 1.52%, respectively. The cash allocation was at 14%.

The 10-year U.S. Treasury closed the week down 1.89%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with a 15% net short exposure. On Wednesday, the position moved to an 18% net long exposure. The S&P 500 E-mini futures started the week with a 2.50% net short exposure. On Thursday, the position shifted to a 1.50% net short exposure.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 110% net long exposure. On Monday, the position shifted to an 80% net long exposure. On Wednesday, the position reallocated to a 120% net long exposure. On Thursday, the position switched to a 200% net long exposure.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 20.90% net short exposure to Treasurys. On Monday, the position switched to a 33% net short exposure to Treasurys. On Tuesday, the position changed to a 20.90% net short exposure to Treasurys. On Wednesday, the position switched to a 50.70% net long exposure to Treasurys. On Thursday, the position reallocated to a 39% net long exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 63% in the S&P 500, 19% in emerging markets, 14% in the Russell 2000, and 4% in the NASDAQ 100.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Broadcom Inc. (AVGO, 10.80%) and Darling Ingredients Inc. (DAR, 7.37%). Last week, the securities were down 11.12% and 2.20%, respectively. The cash allocation was at 2.86%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 33.63%) and the Invesco QQQ Trust Series 1 (QQQ, 14.14%). Last week, the securities were down 2.38% and 4.50%, respectively. The cash allocation was at 2.50%.

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 6/29/26

Mon, 29 Jun 2026 18:50:05 GMT

Last week, the gold spot price fell 2.88%, and the U.S. Dollar Index rose 0.5%. The Quantified Gold Futures Tracking Fund (QGLDX) decreased by 3.64% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., declined 3.52% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.06%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

A “living in the moment” guide to investing

Tue, 23 Jun 2026 03:02:00 GMT

By Jerry Wagner

I have tried to balance my life by respecting the lessons of the past, planning for the future, and making the most of the opportunities in the present. Yet, I realize that one of my lifelong passions—active management—is indeed governed by the philosophy of living in the moment.

What’s your investing approach: Respond to the present, or “buy and hope”?

While active management draws on history as the basis of each active strategy, it is continually focused on what is happening now. Active management strategies cannot see into the future—they can only seek to realize what the present provides. They are based not on forecasting, but rather on the probability of favorable outcomes—and they seek each day to profit from them.

Buy-and-hold investing does not relate much to the here and now. You buy and wait. You invest and hope. Rather than seeking to profit from what’s happening in the present, buy-and-hold investing considers the present—the moment—irrelevant.

Yet we know from experience that even if active strategies do not return more to investors over a given period, what happens each day is relevant to even the buy-and-hold investor. Every financial market goes through peaks and valleys. Investors get euphoric, and they also get despondent.

When stock prices fall day after day, when the daily declines move from decimals to single digits, and then to double digits, even the most ardent buy-and-hold investors have had second thoughts. Many have abandoned the approach, and their investments, at the very worst time—near the bottom. They begin to live in the moment, and it becomes very relevant.

It’s easy to understand the fear. Fear comes from our past, but it can influence our actions in the present and our plans for the future. It clouds our judgment.

But we can use computing power to test active strategies in advance. And we can use it to track and carry out high-probability trades in the present. Fear does not enter the picture or cloud a computer’s view of the present.

Invest for the moment, but be prepared when the moment changes

Living in the present may promote happiness, but it does not guarantee it in the short term. Active management is not a panacea. Like every other human endeavor, any strategy can be out of sync with the current market environment.

That’s why we urge clients to diversify among strategies and not expect a truly diversified portfolio to contain only winning strategies. If every strategy is going up together, they will likely fall together. This lack of diversification will provide no protection.

It is fine to prune underperforming strategies, but usually they should be replaced with strategies from the same category to maintain diversification. Of course, this assumes your portfolio was well-diversified in the first place.

Active management is designed to respond during bad periods. After all, responsiveness is an advantage that active management has over the buy-and-hold approach in many market environments.

Investors using active strategies for the first time need to shrug off the buy-and-hold mindset. I know you have seen your buy-and-hold investments rise to new heights and then be dashed when a major bear market arrives.

Sooner or later, you get tempted to sell, even though the market may be down 50% by then. Fear can eventually do that to you. That same fear may keep you from buying back into the stock market when it finally turns around.

When you sign up for an active management strategy, your investing decisions no longer need to be driven by emotion. The strategies are automated. They are developed on computers and run daily on computers. There are no emotions. They just execute trades that years of research have identified as likely to improve outcomes relative to buy-and-hold investing.

Each strategy has high-probability trading parameters. These can move your investments to safety when historically tested sell parameters are met.

It’s all about living in the present. Your investing decisions no longer need to be driven by fear of the past or worry about the future.

Market Update 6/22/26

Tue, 23 Jun 2026 02:02:00 GMT

By Will Hubbard

Market snapshot

• Equities: Stocks finished the week higher. The S&P 500 gained 0.96%, the Dow Jones Industrial Average rose 0.75%, the small-cap Russell 2000 added 1.24%, and the NASDAQ Composite climbed 2.44%.

• Fixed income: Treasury yields were volatile. The Fed held rates steady but updated projections to show at least one rate increase this year. The benchmark 10-year Treasury yield dipped slightly to 4.46% for the week.

• Gold and commodities: Gold fell 0.22% for the week as the U.S. dollar strengthened. Oil declined on hopes for improvement in the U.S.-Iran conflict.

• Market indicators and outlook: Our strategies were active, looking to establish or continue long or levered positions. Market regime indicators show the market is in a Normal economic environment, which is historically positive for stocks, bonds, and gold, though gold has also experienced meaningful drawdowns in this environment. Normal is one of the best stages for stocks, with limited downside. Volatility is High and Rising, which favors stocks over gold and then bonds.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Equities

Stocks finished higher last week, benefiting from easing geopolitical pressure, a sharp drop in oil prices, and renewed leadership from technology and semiconductor-related names. At the same time, investors had to digest a more complicated interest-rate backdrop after the Federal Reserve’s June meeting.

The Russell 2000 reached a new record closing high. Small caps have often struggled when rates rise or credit conditions tighten. Their strength suggests that investors were willing to look beyond mega-cap technology and take on more cyclical exposure.

Technology remained a major source of leadership. Semiconductor stocks rallied sharply late in the week, helped by optimism around domestic chip production and continued confidence in AI-related capital spending.

The Federal Reserve held rates steady, but its message around future policy became less friendly. Updated projections showed that nearly half of Fed officials now see at least one rate increase in 2026. That is a meaningful shift from the rate-cut expectations that dominated earlier in the year. Strong retail sales and a still-resilient labor market give the Fed more room to stay focused on inflation, especially after oil-driven price pressure created another complication for policymakers.

The result is a market that continues to act well but is not without risk. Investors are balancing falling oil prices and strong earnings momentum against a Fed that may not be finished tightening. For now, price action still favors equities, growth, and momentum. But this remains an environment where discipline matters. A rules-based process does not need to predict the next Fed statement, geopolitical headline, or AI earnings surprise. It simply needs to recognize when the market is rewarding risk and when that condition begins to change.

Fixed income

Treasurys had a choppy week as investors weighed two competing ideas. On one hand, lower oil prices helped ease some inflation concerns. On the other, the Federal Reserve’s updated projections made it clear that policymakers are not ready to declare victory over inflation. As a result, the 10-year Treasury yield dipped slightly from 4.48% to 4.46%.

The Fed left its benchmark policy rate unchanged in the 3.50% to 3.75% range. But the important part of the meeting was the change in tone. The updated projections showed that nearly half of policymakers now expect at least one rate hike before year-end. The policy statement also moved away from language that had previously pointed toward potential cuts. That was a reminder that the bond market still has to factor in inflation risk, even as economic growth remains resilient.

Economic data added to that tension. May retail sales increased more than expected, helped by auto purchases and higher gasoline sales. Core retail sales also rose, suggesting the consumer is not yet breaking. For the Fed, that type of data can be a double-edged sword. It supports the soft-landing argument, but it also gives policymakers less urgency to ease policy if inflation remains above target.

For investors, the message is similar to what we have seen for much of this cycle. Bonds still have an important role in portfolios, especially now that yields provide more income than they did during the zero-rate period. But fixed income should not be viewed as a guaranteed shock absorber in every environment. When inflation expectations rise or the Fed turns more hawkish, bonds can become a source of volatility rather than a simple offset to equity risk.

That does not mean investors should abandon fixed income. It means duration, credit exposure, and overall portfolio construction should remain intentional. The opportunity in bonds is better than it was several years ago, but the risk still needs to be managed.

Gold and commodities

Commodities remained central to the market narrative last week. Oil prices moved sharply lower as investors responded to progress around U.S.-Iran negotiations and the possibility of improved oil flow through the Strait of Hormuz. Brent crude remained sensitive to each new headline, but the direction mattered: Lower oil prices helped ease some inflation pressure and supported risk assets.

That was one reason equities moved higher despite a more hawkish Fed. Falling oil prices can act like a tax cut for consumers and businesses by reducing pressure at the gas pump, helping transportation-related industries, and softening inflation expectations. But investors should be careful about treating geopolitical relief as permanent. Energy markets can reprice quickly when supply routes, production, or diplomacy change.

Gold moved lower for the week as the U.S. dollar strengthened and rate expectations rose. That is the other side of the same macro story. Gold can benefit from uncertainty, but it can struggle when real rates rise or when investors believe the Fed will keep policy tighter for longer. Last week was a reminder that gold is not a one-direction hedge. It can help diversify portfolios, but it is still affected by rates, currency moves, and investor positioning.

From our perspective, gold remains a sensible diversifier. But, like every asset class, gold is most useful when evaluated as part of a broader portfolio process, not as a stand-alone bet on a single market outcome. It can respond well to stress and uncertainty, but it can also face pressure when monetary policy and the dollar move against it.

FPI is the subadviser to the only U.S. gold mutual fund, the Quantified Gold Futures Tracking Fund (QGLDX). Launched in 2013, the fund is designed to track the daily price changes in the precious metal in a more tax-efficient manner than its ETF counterpart, GLD.

The indicators

The QFC S&P Pattern Recognition strategy started the week 80% long, decreased exposure to 70% long on Monday, and then jumped to 110% long on Thursday to close the week. Our QFC Political Seasonality Index remained in a risk-off posture this week. (The QFC Political Seasonality Index—with all of its daily signals—is available post-login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

Our intermediate-term tactical strategies have been varied in their degree of defensive positioning. The key advantage these strategies offer investors is their ability to adapt to changing market environments by participating during uptrends and moving to a defensive posture during downtrends.

The Volatility Adjusted NASDAQ strategy started the week 20% long, moved to cash on Tuesday’s close, and then moved back to 20% long on Thursday’s close to end the week. The Systematic Advantage strategy remained 90% long throughout the week. Our QFC Self-Adjusting Trend Following strategy started the week at 200% exposure and shifted to 0% exposure on Thursday. These strategies can employ leverage, so their exposure may exceed 100% at times.

Quantified Funds 6/22/26

Mon, 22 Jun 2026 13:47:00 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 gained 0.96%, the NASDAQ Composite rose 2.44%, and the Dow Jones Industrial Average advanced 0.75%.

Six of the 11 sectors were up last week, led by Information Technology, which gained 3.06%.

Seven of the 12 Quantified Funds were up last week: The Quantified STF Fund (QSTFX) gained 4.96%, the Quantified Evolution Plus Fund (QEVOX) rose 3.39%, the Quantified Market Leaders Fund (QMLFX) added 3.33%, the Quantified Common Ground Fund (QCGDX) went up 2.21%, the Quantified Pattern Recognition Fund (QSPMX) rose 1.03%, the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) advanced 0.88%, the Quantified Tactical Sectors Fund (QTSSX) gained 0.47%, the Quantified Managed Income Fund (QBDSX) decreased by 0.25%, the Quantified Government Income Tactical Fund (QGITX) fell 0.30%, the Quantified Alternative Investment Fund (QALTX) declined 0.46%, the Quantified Rising Dividend Tactical Fund (QRDTX) lost 0.55%, and the Quantified Global Fund (QGBLX) decreased by 2%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Value (12.88%), Small-Cap Value (25.94%), Small-Cap Growth (6.34%), Large-Cap Growth (14.36%), 2X S&P 500 and 2X NASDAQ 100 exposure (25%), Technology (7.18%), Info Technology (7.18%), Emerging Markets (19.42%), and single-stock ETFs (2X or -1X) (5%).

The cash level within the Quantified Alternative Investment Fund decreased by 0.98% last week (27.83%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the First Trust Alternative Absolute Return Strategy ETF (FAAR, 3.50%) increased by 1.18%, while allocation to the iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY, 0.60%) decreased by 0.60%. Last week, the funds were down 1.93% and 1.78%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with a 1% net long exposure. On Tuesday, the position shifted to a 0% net long exposure. On Thursday, the position shifted to a 1% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund held a 10% net short exposure throughout the week.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) started the week with a 200% net long exposure. On Thursday, the position shifted to a 0% net long exposure. The Quantified STF Fund (QSTFX) rose 4.96% for the week, compared to a gain of 2.61% for the NASDAQ 100 Index (NDX) and a gain of 2.58% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 28.80%) and the Alerian MLP ETF (AMLP, 6.80%). Last week, the securities were down 0.10% and 2.80%, respectively. The cash allocation was at 15.60%.

The 10-year U.S. Treasury closed the week down 0.58%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund held a 15% net short exposure throughout the week. The S&P 500 E-mini futures started the week with a 3% net short exposure. On Thursday, the position changed to a 2.50% net short exposure.

The Quantified Pattern Recognition Fund (QSPMX) started the week with an 80% net long exposure. On Monday, the position moved to a 70% net long exposure. On Thursday, the position switched to a 110% net long exposure.

The Quantified Government Income Tactical Fund (QGITX) started the week with an 11% net short exposure to Treasurys. On Monday, the position changed to a 33% net short exposure to Treasurys. On Thursday, the position moved to a 20.90% net short exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 35% in the Russell 2000, 26% in gold, 17% in the NASDAQ 100, 15% in emerging markets, and 7% in cash.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Broadcom Inc. (AVGO, 10.80%) and Darling Ingredients Inc. (DAR, 7.37%). Last week, the securities were up 7.66% and down 5.81%, respectively. The cash allocation was at 2.86%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 33.63%) and the Invesco QQQ Trust Series 1 (QQQ, 14.14%). Last week, the securities were up 0.93% and 2.67%, respectively. The cash allocation was at 2.50%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Invesco S&P 500 Equal Weight ETF (RSP, 96%), the State Street Technology Select Sector SPDR ETF (XLK, 30%), and the State Street SPDR S&P 500 ETF Trust (SPY, 30%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 6/22/26

Mon, 22 Jun 2026 12:43:00 GMT

Last week, the gold spot price fell 0.22%, and the U.S. Dollar Index rose 1.1%. The Quantified Gold Futures Tracking Fund (QGLDX) advanced 0.25% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., went up 0.17% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.08%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

Should we be seeking perfection in our investment returns?

Tue, 16 Jun 2026 03:39:00 GMT

By Jerry Wagner

It was the fall of 1956. Action from the World Series blared from the radio: the New York Yankees versus the Brooklyn Dodgers, game five. Don Larsen threw his 97th pitch. “Strike!” called the umpire, and the audience witnessed perfection. Twenty-seven batters up, 27 retired—all without a hit, walk, or error. The perfect game.

The press made much of the event. I can still see the front-page photo of an exuberant Yogi Berra being held in the arms of a smiling Don Larsen, just off the pitcher’s mound. That image has maintained a permanent spot in my memory and probably influenced me and many of my contemporaries to seek this elusive thing called “perfection”: the perfect education, the perfect job, the perfect spouse, the perfect children, the perfect home, the perfect bank account—the perfect life.

In the years since, I think most of us have learned more about perfection. We know that humans can’t attain it (as St. Jerome said, “True perfection is to be found only in heaven”). Larsen didn’t get his 27 outs on 27 pitches. It took 97.

In investing, the pursuit of perfection can distract us from the more important question: Are we making progress toward the goal?

The fallacy of the “Perfect Timer”

Once a quarter, at statement time, most investors look at returns and judge their investment experience. I always wonder what standard they use in making that judgment. Having spent decades running an investment advisory business, I’ve heard many of these judgments. The one I have the most difficulty with is the standard of the client who I call the “Perfect Timer.”

The Perfect Timer believes that active investment is about selling at the “top” and then buying back in at the “bottom,” repeating the process as often as possible. If you don’t sell at the top, they say, you’ve lost them money.

Of course, there are many problems with this approach. First, no one can pinpoint tops and bottoms consistently for any reasonable period—including the Perfect Timer. “Tops” and “bottoms” can only really be identified in hindsight. And even the exercise of hindsight depends on what period you’re examining. Second, did the Perfect Timer indicate that they wanted to buy when that bottom was hit or sell on the date of that top? Not likely. So why do they talk about “losses” from some unattainable goal that they were not prepared to act upon?

The line of a stock market chart is not smooth—it’s jagged. When you look at any 10-year chart, the major highs and lows jump out at you. They seem so obvious.

But the highs and lows are also obvious in hindsight when you zoom in at the one-year, quarterly, monthly, weekly, or even daily view. At each level, it is easy to imagine getting out at the top and buying in at a low during the ever-shorter life of the chart.

The sad fact is that none of these trades is consistently obtainable except with perfect hindsight. I love the ad that shows a couple asking a bank teller for a pair of “hindsight glasses.” The teller informs them that they have been discontinued. The fact is they never existed. As Salvador Dalí wrote, “Have no fear of perfection—you’ll never reach it!”

The chart does, however, focus our attention on the fact that, in evaluating performance, the period is important. And this is also a big part of what we consider perfection. Often when we say something is “perfect,” what we mean is “in that moment.” It’s only “perfect” in that snapshot clipped from the long-running movie that is our life.

Technology provides us with examples of this. We get the latest Apple iPhone. It’s the “perfect” phone, we say. Two years later, we must have the newest version of the Apple iPhone—it’s now “perfect.” Time changes. Even what’s “perfect” changes.

Clients invest for a purpose—to meet their long-term goals

Most clients invest not for the moment but for a purpose. They are looking to fund a future obligation or goal, be it a home, a child’s future education, or their own retirement. Obviously, these long-term goals have little to do with the highs and lows of a stock index on a daily chart. Nor are the weekly, monthly, or even quarterly charts very relevant to deciding if we are meeting our investment goals.

Research in behavioral finance suggests that most people should not look at their returns more often than once a year. Why? Because experience has shown that there are two major impediments to successful investing: 1. Overconfidence at market tops can cause some investors to overcommit to risky investments. 2. Conversely, overwhelming pessimism at market bottoms can lead to abandonment, usually at a very inopportune time.

So why do we send out quarterly statements? We have no choice, even though we know that by doing so we increase the chances of clients making decisions based on results that are too short term to properly evaluate progress toward their goals. This is just one more example of where the law and science are not really in sync.

At our firm, we seek to minimize this tendency to focus on short-term results (technically called “narrow framing”) by providing a long-term chart called our OnTarget Monitor. It puts performance in a long-term perspective based on an established goal and the likely performance of the mix of strategies chosen by each client.

The OnTarget Monitor does not put this perspective in exact or “perfect” terms but rather provides ranges of probabilities of performance. If performance is in the blue zone, the portfolio is outperforming expectations. The green zone represents normal performance, and the yellow and red zones are areas of increasing divergence from expectations. A bear market can throw even the best strategies or diversified portfolios briefly into the yellow or red zones. However, prolonged duration in the red zone calls for a discussion between the client and financial adviser to consider a different combination of strategies.

By quantifying expectations and displaying them graphically, we seek to focus our clients on a standard of performance that matches their goals and stated suitability profile. (A client’s suitability profile is extremely important in judging performance. Since all of the profiles target less long-term risk than the S&P 500, for example, comparing returns to that index is comparing apples and oranges.) This objective standard stands in sharp contrast to what we often call “perfection.”

Forget perfection. Strive for progress.

What is declared “perfect” is often subjective. Your “perfect” sandwich may be completely unappealing to someone else. That’s another reason why focusing on perfection is a problem: The target is not the same for every person, so how can a money manager focus on it?

The word “perfect” comes from the Latin verb “perficio,” which means “to finish.” That is consistent with Aristotle’s definition of “perfect”—a finished thing, something to which nothing can be added or removed to make it better.

Unfortunately, Aristotle’s definition of perfection results in what philosopher Giulio Cesare Vanini, hundreds of years later, termed the “perfection paradox.” For something to be perfect, it must also be perfectly adaptable. And if it is adaptable, it is not finished. As such, Vanini said, “Perfection must be imperfect.”

These days, you can’t go two minutes without encountering some inspirational quote that reflects this paradox and suggests a solution: “Strive for progress, not perfection.” “Striving for perfection is demoralizing.” Or, as Edwin Bliss said, “The pursuit of excellence is gratifying and healthy; the pursuit of perfection is frustrating, neurotic, and a terrible waste of time.”

I’ve spent decades seeking the “perfect” strategy, one that generates positive results no matter what period I examine—daily, weekly, or even quarterly. There is no such strategy.

Instead, our firm seeks progress and excellence in the process of attaining it. We have always been committed to dynamic, risk-managed strategies that can change to meet the challenges of evolving market conditions rather than simply buying and holding. Market environments change, and so the strategies that flourish in them also change.

The investment strategies we offer will not yield gains in every quarterly report. But each has been designed to seek strong risk-adjusted returns over time. It’s not a “perfect” game, but helping our clients progress toward their long-term goals is, after all, what investing is all about.

Market Update 6/15/26

Tue, 16 Jun 2026 02:28:00 GMT

By Jerry Wagner

Market snapshot

• Stocks: Stocks posted gains this past week. The S&P 500 Index rose 0.65%, the NASDAQ climbed 0.7%, and the Russell 2000 rallied 3.9%.

• Bonds: Bonds also did well. The U.S. Aggregate Bond ETF (AGG) gained 0.6%, and the 20-year Treasury Bond ETF (TLT) added 0.8%.

• Gold: Gold futures closed the week at $4,231.30, down $134 per ounce, or 3.07%. The U.S. Trade-Weighted Dollar fell 0.29%.

• Market indicators and outlook: Technical indicators are mostly positive for stocks, as are the strategies. The economic environment is classified as Normal, favoring gold and stocks from a return perspective. Volatility is High and Rising, a regime historically favorable for gold over other asset classes on a risk-adjusted-return basis.

***

For the latest information on our Quantified Funds, check out our weekly fund updates. You can also see the daily holdings of the funds here.

Stocks

The pause suggested in my last Market Update came to pass two weeks ago. But stocks managed to rally last Friday to finish the week on the positive side, inspired by the vaunted memorandum of understanding (MOU) on settling the Iranian conflict, along with excitement over the SpaceX IPO. Today (Monday, June 15), that rally continued.

As the previous chart makes clear, the S&P 500 Index fell to its 50-day moving average just before springing higher. The same occurred on the NASDAQ Composite’s weekly chart, where the 10-week moving average provided the support.

Geopolitical events have impacted stock prices throughout the year. First, the beginning of the Iran conflict sent stock prices reeling, only to have a cease-fire and repeated suggestions of an impending peace agreement lead the recovering equity indexes higher. Friday’s announcement of the MOU, followed by today’s setting of Friday as the signing date, has breathed fresh air into what was becoming a stale process.

Economic news has been mixed, with highlights (surging employment) and lowlights (increased inflation). Last week was more of the same.

Take inflation. The consumer price index for May was reported in line with higher expectations. But core inflation readings were below expectations, as the price of goods measured in the report actually declined instead of accelerating as expected.

Of course, with the peace agreement, the price of oil also fell. It is currently just below $80 per barrel after spending much of the second quarter over $100. Even before that, the price of gasoline here was below the $5-per-gallon high-water mark set in 2022.

The bottom line: Despite the unfavorable seasonality of mid-June, the combination of a stand-pat Federal Reserve meeting this week and a positive macro environment is likely to push the market higher to test its previous record highs in the short term.

Bonds

Bond yields remain stubbornly above their short-term moving average. Still, with the peace talks, yields have been falling for weeks and are about 25 basis points below their recent highs. Perhaps with the final signing of the MOU on Friday, we will get the downside breakout that would signal the beginning of a meaningful downtrend.

In the meantime, all eyes will be on the Federal Reserve on Wednesday as it meets to discuss the future direction of short-term rates. All indications are that, despite strong employment reports, the new Fed chairman has no appetite to raise rates at this meeting. The better-than-expected core inflation reports, as discussed above, and the peace deal give him some time and cover.

Government bonds have been rallying as yields have moved lower to test the moving average breakout point. Again, the long-term bond ETF (TLT) seems poised for a breakthrough. At the same time, the ETF representing the high-yield bond market (HYG) has broken to new highs, which is a good sign that the stock indexes may soon follow.

Gold

Gold attempted several breakouts above its moving average earlier this year, but it has since settled into an intermediate downturn and breached the lows set in March. The MOU announcement has caused the price of the yellow metal to reverse direction and rally, but further gains seem more dependent on resumed oil traffic in the Strait of Hormuz than anything else.

Still, the case for further gold appreciation remains strong. Last week, many commentators opined that gold was oversold. The latest reports indicate that central banks resumed buying the precious metal in April. Those followed previous reports that some central banks (Turkey, for example) had liquidated or lent gold to raise funds to combat high oil prices after the beginning of the Iranian conflict.

Longer-term price appreciation in the metal was in the headlines last week with the start of the World Cup. The trophy awarded to the winners is made of gold. As the following chart shows, its value has soared with gold’s price gains over the years.

Meanwhile, the U.S. dollar has tumbled along with the decline in interest rates. This has been relieving pressure on gold. The dollar also appears poised for a further breakdown if it falls below its recent support at the short-term moving average.

The indicators

The short-term technical indicators of future stock market price changes that I watch are now mostly positive. And our QFC S&P Pattern Recognition strategy has 70% exposure to the S&P 500 Index as of Monday’s close.

Our QFC Political Seasonality Index strategy moved out of stocks at the close on June 5. It will return to stocks at the close on June 26. (Our QFC Political Seasonality Index—with all of the daily signals for 2026—is available after login in our Weekly Performance Report section under the Domestic Tactical Equity category.)

FPI’s intermediate-term tactical equity strategies remain mixed, with a positive bias. The Volatility Adjusted NASDAQ strategy has 20% net long exposure to the NASDAQ 100. Systematic Advantage ended the week 90% net long. Our QFC Self-Adjusting Trend Following strategy moved back to its 200% exposure mode at the close on June 12. QFC Dynamic Trends also moved from its defensive posture in the Quantified Eckhardt Managed Futures Strategy Fund (QECTX) back into the 2X exposure of the Quantified STF Fund (QSTFX). Investing for the longer term, Classic continues 100% long equities.

Because the QFC Dynamic Trends, Volatility Adjusted NASDAQ, Systematic Advantage, QFC Self-Adjusting Trend Following, and QFC S&P Pattern Recognition strategies can employ leverage, the investment positions may exceed 100%.

FPI’s Growth and Inflation measure, one of our Market Regime Indicators, shows that markets are in a Normal economic environment stage (inflation and GDP are growing). Historically, a Normal environment has occurred 75% of the time since 2003 and has been a positive regime state for stocks, bonds, and gold. Stocks have the highest rate of return in Normal periods. Gold has the second-highest return but has also experienced high drawdowns in these environments.

Our S&P volatility regime is registering a High and Rising reading. Since 2003, this environment favors stocks over gold and then bonds from an annualized return standpoint. Still, stocks have the highest drawdown risk among the three asset classes, making gold the best risk-adjusted performer in this particular regime. Bonds have the lowest return, risk, and drawdown. The High and Rising combination has occurred 28% of the time since 2003.

Quantified Funds 6/15/26

Mon, 15 Jun 2026 19:11:01 GMT

U.S. equity markets posted gains in all three indexes last week. The S&P 500 rose 0.66%, the NASDAQ Composite added 0.71%, and the Dow Jones Industrial Average advanced 0.68%.

Nine of the 11 sectors were up last week, led by Materials, which gained 3%.

Nine of the 12 Quantified Funds were up last week: The Quantified Market Leaders Fund (QMLFX) gained 4.92%, the Quantified Evolution Plus Fund (QEVOX) was up 2.79%, the Quantified Common Ground Fund (QCGDX) rose 2.51%, the Quantified Rising Dividend Tactical Fund (QRDTX) climbed 2.05%, the Quantified Pattern Recognition Fund (QSPMX) increased by 1.42%, the Quantified Global Fund (QGBLX) gained 1.26%, the Quantified Tactical Sectors Fund (QTSSX) advanced 0.84%, the Quantified Alternative Investment Fund (QALTX) rose 0.65%, the Quantified STF Fund (QSTFX) added 0.37%, the Quantified Managed Income Fund (QBDSX) returned 0%, the Quantified Government Income Tactical Fund (QGITX) fell 0.30%, and the Quantified Eckhardt Managed Futures Strategy Fund (QETCX) lost 0.62%.

The Market Environment Indicator (MEI) was bullish Friday morning last week. Equity asset-class allocations in the Quantified Market Leaders Fund were the following: Mid-Cap Value (12.88%), Small-Cap Value (25.94%), Small-Cap Growth (6.34%), Large-Cap Growth (14.36%), 2X S&P 500 and 2X NASDAQ 100 exposure (25%), Technology (7.18%), Info Technology (7.18%), Emerging Markets (19.42%), and single-stock ETFs (2X or -1X) (5%).

The cash level within the Quantified Alternative Investment Fund increased by 5.07% last week (28.80%). The largest allocation increase and decrease, respectively, within the Quantified Alternative Investment Fund (QALTX) last week were the following: Allocation to the NYLI Hedge Multi-Strategy Tracker ETF (QAI, 3%) increased by 3%, while allocation to the WisdomTree US LargeCap Dividend Fund (DLN, 0%) decreased by 3%. Last week, the funds were up 1.28% and 1.12%, respectively.

The capital allocation of the volatility-based systematic trading of NASDAQ 100 Index futures started the week with an 8% net long exposure. On Monday, the position changed to a 1% net long exposure.

The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Alternative Investment Fund started the week with a 10% net short exposure. On Tuesday, the position reallocated to a 12% net long exposure. On Wednesday, the position changed to a 10% net short exposure.

The QFC Self-adjusting Trend Following strategy's signal of exposure in the NASDAQ 100 Index (NDX) started the week with a 0% net long exposure. On Friday, the position moved to a 200% net long exposure. The Quantified STF Fund (QSTFX) rose 0.37% for the week, compared to a gain of 2.35% for the NASDAQ 100 Index (NDX) and a gain of 2.33% for the Rydex Series NASDAQ 100 Fund (RYHOX), a current potential holding of the STF strategy.

The Quantified Managed Income Fund's (QBDSX) largest ETF allocations were the iShares 1-3 Year Treasury Bond ETF (SHY, 31.21%) and the Alerian MLP ETF (AMLP, 6.80%). Last week, the securities were up 0.26% and down 1.21%, respectively. The cash allocation was at 16%.

The 10-year U.S. Treasury closed the week down 1.10%. The capital allocation to 30-year U.S. Treasury bond futures in the Quantified Managed Income Fund started the week with a 15% net short exposure. On Tuesday, the position moved to an 18% net long exposure. On Wednesday, the position changed to a 15% net short exposure. The S&P 500 E-mini futures started the week with a 5% net short exposure. On Thursday, the position changed to a 3% net short exposure.

The Quantified Pattern Recognition Fund (QSPMX) started the week with a 20% net long exposure. On Monday, the position moved to a 30% net long exposure. On Tuesday, the position switched to a 10% net long exposure. On Wednesday, the position switched to a 50% net long exposure. On Thursday, the position reallocated to a 110% net long exposure. On Friday, the position shifted to an 80% net long exposure.

The Quantified Government Income Tactical Fund (QGITX) started the week with a 33% net short exposure to Treasurys. On Monday, the position moved to a 20.90% net short exposure to Treasurys. On Tuesday, the position shifted to a 39% net long exposure to Treasurys. On Wednesday, the position shifted to a 33% net short exposure to Treasurys. On Thursday, the position switched to an 11% net short exposure to Treasurys. On Friday, the position reallocated to a 33% net short exposure to Treasurys.

The Quantified Evolution Plus Fund (QEVOX) had the following allocations at the end of last week: 33% in the Russell 2000, 27% in gold, 18% in the NASDAQ 100, 15% in emerging markets, and 7% in cash.

The Quantified Common Ground Fund's (QCGDX) largest allocations were Broadcom Inc. (AVGO, 10.80%) and Darling Ingredients Inc. (DAR, 7.37%). Last week, the securities were down 0.95% and 4.14%, respectively. The cash allocation was at 2.86%.

The Quantified Global Fund's (QGBLX) largest allocations were the State Street SPDR S&P 500 ETF Trust (SPY, 33.63%) and the Invesco QQQ Trust Series 1 (QQQ, 14.14%). Last week, the securities were up 0.57% and 2.31%, respectively. The cash allocation was at 2.50%.

The Quantified Tactical Sectors Fund (QTSSX) had the following allocations last Friday: the Vanguard Information Technology ETF (VGT, 40.64%), the State Street Technology Select Sector SPDR ETF (XLK, 20.32%), and the State Street SPDR S&P 500 ETF Trust (SPY, 20.32%).

The Quantified Rising Dividend Fund (QRDTX) was bullish at the end of last week.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(3.08%)

(10.35%)

(5.62%)

(7.38%)

N/A

(5.47%)

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.

The Quantified Gold Futures Tracking Fund (QGLDX) 6/15/26

Mon, 15 Jun 2026 19:09:20 GMT

Last week, the gold spot price fell 2.52% and the U.S. Dollar Index declined 0.32%. The Quantified Gold Futures Tracking Fund (QGLDX) lost 2.18% for the week. The value of the COMEX gold futures, which closes early at 1:30 p.m., fell 2.9% for the week. The short-duration fixed-income ETF holding(s) held by QGLDX as of Friday's close had an average weekly return of about 0.06%.

Total Return

Fund (Inception)

Symbol

Qtr Ending (3/31/26)

Year-To-Date Ending (3/31/26)

1 Year Ending (3/31/26)

3 Years Ending (3/31/26)

5 Years Ending (3/31/26)

10 Years Ending (3/31/26)

Since * Inception Ending (3/31/26)

Annual Expense Ratio

Quantified Gold Futures Tracking Fund (7/9/13)

QGLDX

8.35%

46.22%

30.13%

18.91%

11.21%

8.33%

1.50%

Quantified Managed Income Fund (8/9/13)

QBDSX

(0.38%)

2.25%

2.73%

0.97%

0.89%

0.73%

1.60%

Quantified Market Leaders Fund (8/9/13)

QMLFX

(1.41%)

11.53%

8.66%

(1.17%)

8.43%

6.94%

1.53%

Quantified Alternative Investment Fund (8/9/13)

QALTX

4.13%

19.02%

8.87%

4.32%

4.34%

3.67%

2.41%

Quantified STF Fund

(11/13/15)

QSTFX

(11.76%)

15.68%

16.90%

5.28%

14.11%

12.58%

1.73%

Quantified Common Ground Fund

(12/27/19)

QCGDX

5.59%

8.85%

10.05%

7.55%

N/A

9.75%

1.61%

Quantified Evolution Plus Fund

(9/30/19)

QEVOX

40.30%

31.13%

19.39%

10.01%

N/A

6.05%

1.83%

Quantified Pattern Recognition Fund

(8/30/19)

QSPMX

(7.18%)

21.32%

13.11%

9.28%

N/A

10.55%

1.79%

Quantified Tactical Fixed Income Fund

(9/13/19)

QFITX

(3.08%)

(10.35%)

(5.62%)

(7.38%)

N/A

(5.47%)

1.79%

Quantified Tactical Sectors Fund (3/3/21)

QTSSX

(4.19%)

12.68%

9.47%

(4.91%)

N/A

(4.73%)

1.72%

Quantified Rising Dividend Tactical Fund (4/14/21)

QRDTX

(2.03%)

2.58%

9.95%

N/A

0.13%

1.81%

Quantified Government Income Tactical Fund (4/15/21)

QGITX

(1.43%)

1.31%

(1.64%)

N/A

(4.78%)

1.81%

Quantified Global Fund (11/29/23)

QGBLX

3.95%

20.20%

N/A

14.32%

1.69%

Quantified Eckhardt Managed Futures Strategy (10/26/24)

QETCX

(5.29%)

(16.60%)

N/A

(14.30%)

1.72%

* Performance for periods of greater than one year are annualized.

Flexible Plan Investments, Ltd., serves as investment sub-advisor to The Gold Futures Tracking Fund and Quantified Funds. Advisors Preferred, LLC serves is the Funds’ investment advisor.