... 6% - - iShares Gold Trust (IAU) Commodities 40% 4% - - Aberdeen Standard All Commodity ETF (BCI) 100% 10% - - Strategas Recommended ALTERNATIVE Allocation (Feb'26) Strategas ... Allocation SMA Portfolio Exposures Dev AC Core 26% 15% 26% 16% iShares MSCI EAFE Core ETF (IEFA) US LC Growth 24% 14% 27% 16% iShares S&P 500 Growth ETF (IVW) US LC Value 20% 12% 19% 11% iShares S&P 500 Value ETF (IVE) EM AC Core 14% 8% 11% 7% iShares MSCI EM Core ETF (IEMG) US LC Core 10% 6% 12% 7% ...

... The S&P 500 is very close to its 50- day MA, while the 200-day MA is climbing faster than the Index itself. Price action seems orderly and stable. 2. Heavy inflows into equity market funds ✓ ✓ X Flows to Equity ETFs reflect a tactical chase, but we are also cognizant that NET flows from mutual funds are negative - this is part of a structural movement from one vehicle to another. The ratio of levered to inverse ETF assets remains elevated, though. 3. Big pick-up in M&A ...

... A HOUSING CALL COMING TOGETHER Strategas Technical & Macro Research 16 2/13/2026 S&P Homebuilders ETF: XHB 50 & 200-Day MA XHB Relative to S&P ... INDUSTRIALS ARE LEADERSHIP, BUT FLOWS REFLECT HIGH ENTHUSIASM 31 2/13/2026 Industrials Sector ETF Flows Rolling 65-Day Sum, $ Bn Industrials Sector ETF Flows Rolling 1-Year Sum, $ Bn   ... Healthcare Sector ETF Flows Rolling 65-Day Sum, $ Bn You can see the tactical chase to Healthcare ongoing... perhaps modestly overdoing it. ...

'20 '21 '22 '23 '24 '25 '26 AUM of ETFs Using Derivatives by Strategy $MM Option Income Leverage Other (Commodity, FX Hedging, Managed Futures) Buffer Strategas ETF Research See Appendix for Important Disclosures ETF Research Thursday, February 12, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com ETFs FOR HEDGING A question that has been raised on our recent travels, particularly with large-cap Growth going through a speed bump: how do I hedge? ...

A HOUSING CALL COMING TOGETHER Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 5 2/11/2026 S&P Homebuilders ETF: XHB 50 & 200-Day MA XHB Relative to S&P 500 Positive / Negative Trend Signals ✓ ... REGIONALS STRONG, USE WEAKNESS OPPORTUNISTICALLY Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 9 2/11/2026 KRE Regional Banking ETF 50 & 200-Day MA Overbought / Oversold Banks, especially ...

See Appendix for Important Disclosures ETF Research Tuesday, February 10, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com ETF FLOWS BROADENING, IS IT A RISK? A quick update from the ETF universe from the road this week... -Overall Flows. The pace of overall equity flows remains blistering, flirting with the $400 Bn mark over the trailing 3-months (tactical) and roughly $1 trillion (structural) over the trailing 1-year. One reflects a chase with ...

... ETFs Are Not Just A Retail Product One theme that became abundantly clear is that the use of ETFs within institutional portfolios is becoming increasingly broad. Clients were particularly interested in using ETFs as hedging tools, especially in portfolios with concentrated exposure to certain areas of the market that are currently under pressure. My colleague and Chief ETF Strategist, Todd Sohn, published a list of ETFs at the beginning of the quarter, and many of those were ...

... Do Not Redistribute 10 2/9/2026 Homebuilding ETF: XHB 50 & 200-Day MA XHB Relative to S&P 500 - Equal Weight Positive / Negative Trend Signals ✓ Taking another shot here, despite having been a frustrating chart for better part of a year. ... PRICE & RELATIVE BREAKOUT FOR AIRLINES Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 16 2/9/2026 Global Airlines ETF: JETS 50 & 200-Day MA JETS Relative to S&P 500 Positive / Negative Trend ...

... We can identify the oversold condition that is developing here, but without any time spent repairing we have very little interest in being anything other than an observer for now. 95 th Percentile 99 th Percentile OUTFLOWS FROM THE CRYPTO ETFs 34 2/6/2026 iShares Bitcoin ETF: IBIT Crypto ETF Flows Rolling 65-Day Sum,$ Bn ✓ Strategas Technical & Macro Research Equity ETF Flows S&P Futures Positioning 10-Day Put/Call Ratio VIX Curve I.I. Bull / Bear Ratio Consensus % Bullish ...

Long Neutral Short Asset Manager/ Lev Funds Net Positions FFR Futures Vol + OI Options on Tsy Futures OI MOVE Index & Bond ETF Volatility Shorter Duration Futures OI Options on ... NEUTRAL 2/6/26 Please see the Appendix for important disclosures. BOND MARKET VOLATILITY: MOVE INDEX & BOND ETF ATM IMPLIED VOLATILITY Bond volatility remains near multi-year lows, while volatility metrics for major fixed income ETFs show little stress. We keep this long, but note global bond risks ...