Summary

• Concerns surrounding AI disruption recalibrated valuations lower for the software industry and select financial institutions.
• Value sectors such as energy, materials, utilities, consumer staples, industrials, and real estate advanced.
• Virtus Terranova U. S. Quality Momentum ETF posted a total return of -4.82% at NAV versus the Index's return of -4.77%.
• Sector allocation was a contributor to performance over the quarter, relative to the broader market, as measured by the S&P 500 Index.
• The largest individual contributors to performance were Vertiv Holdings Co. Class A, Micron Technology, Inc. , Applied Materials, Inc. , Baker Hughes Co. Class A, and Lam Research Corp.

Index Composition

The Terranova U. S. Quality Momentum Index filters securities based on positive technical momentum and then ranks them by measures of fundamental quality. This results in an equally weighted portfolio of 125 well-established U. S. securities. The Index is

2 Followers