ETF: IWM 50 & 200-Day MA IWM Relative to S&P 500 Positive / Negative Trend Signals  Consolidating near the recent highs and not losing any relative ground while doing so. Small-caps continue to act well. -30% -20% -10% 0% 10% 20% 30% 40% -$10,000 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Annual Russell 2000 ETF Price Performance Annual ETF Flows ($MM) Annual Small-Cap ETF ...

... NOW OVERSOLD IN AN UPTREND Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 15 6/11/2026 Brazil ETF: EWZ 50 & 200-Day MA Overbought / Oversold Positive ↑ / Negative ↓ Trend Signals COLOMBIA ALREADY TURNING UP FROM SIMILAR SETUP Strategas Technical & Macro Research Proprietary Information - Please Do Not Redistribute 16 6/11/2026 Colombia ETF: COLO 50 & 200-Day MA Overbought / Oversold Positive ↑ / Negative ↓ Trend Signals ✓ ...

100 150 200 250 0 100 200 300 400 500 600 700 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 Launches Per Year Cumulative Total # of Levered ETP Products Strategas ETF Research See Appendix for Important Disclosures ETF Research Thursday, June 11, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com The two "Ls" of ETFs: Low Vol vs. Leverage sit in complete opposite corners today. Here's what we think you should know: 1) Low Bar for Low Vol? ...

... SpaceX & Index Inclusion 06/10/26 Strategas Securities - Investment Strategy BULL MARKET TOP CHECKLIST Bull Market Top Checklist 2000 2007 Current Comments 1. Blow-off top ✓ ✓ x While there are pockets of the market like semiconductors that are stretched, the market is within a reasonable level above its 200-day moving average. 2. Heavy inflows into equity market funds ✓ ✓ x Flows into Equity ETFs reflect not only broad optimism but also a structural transition away ...

... NO APPETITE FOR FINS Strategas Technical & Macro Research 36 6/9/2026 Financials Sector ETF Flows Rolling 65-Day Sum, $ Bn   +2 Standard ... ETF Flows Rolling 65-Day Sum, $ Bn  +2 Standard Deviations -2 Standard Deviations -30% -20% -10% 0% 10% 20% 30% 40% -$10,000 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Annual Russell 2000 ETF Price Performance Annual ETF Flows ...

Financials Staples Utilities Industrials Energy Materials Tech Relative Performance Percentile S&P 500 Equal-Weight Sector Relative Performance Rolling 6-Month % Change, Last 20-Years Strategas ETF Research See Appendix for Important Disclosures ETF Research Tuesday, June 9, 2026 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com ETFs are a $15 trillion industry accounting for upwards of 30-40% of exchange volume with options usage even higher. ...

The VIX and VXN indices both finished the week higher at 21.51 (from 15.32) and 30.47 (from 22.58), respectively. ETF ... in options and leveraged ETF positioning, namely Tech and especially semiconductors. The heavy selloff was amplified by volatility-sensitive systematic flows that tend to sell into declines (short-gamma behavior): Leveraged ETFs sold about $54Bn worth of exposure on end of day rebalancing, the largest rebalancing selling flow ever for leveraged ETFs. ...

... Pessimism Equity ETF Flows S&P Futures Positioning 10-Day Put/Call Ratio VIX Curve I.I. Bull / Bear Ratio Consensus % Bullish AAII Bull/Bear Ratio Policy Uncertainty Median Percentile Strategas Sentiment Dashboard Current Reading vs. ... JPM, WFC), but the group still shows strongly in our Industry Matrix. CAN KRE BREAK OUT? Strategas Technical & Macro Research 21 6/5/2026 KRE Regional Banking ETF 50 & 200-Day MA KRE Relative to S&P 500 Positive / Negative Trend Signals ...

Net Shorts & SOFR-FFR Spread MOVE Index & Bond ETF Volatility Options on Tsy Futures OI Tsy Net Issuance & RRF Operations Note/Bond Allotment + Dealer Positions Commercial Bank Deposits & FHLB ... SHORT 6/4/26 Please see the Appendix for important disclosures. BOND MARKET VOLATILITY: MOVE INDEX & BOND ETF ATM IMPLIED VOLATILITY Broad bond volatility has come in a bit and volatility on major ETFs remains around the midpoint of recent years. We're keeping this as long for now, ...

PUSHING ON A STRING DOMESTICALLY Reuters Bloomberg Proprietary Information - Please Do Not Redistribute CHINA BUSINESS, CONSUMER & GOVERNMENT ALL INDEBTED Bloomberg Proprietary Information - Please Do Not Redistribute "BUY AND HOLD" INVESTING HAS BEEN TOUGH WITH CHINA EQUITIES As Strategas' ETF Strategist Todd Sohn has pointed out, holding the China market has yielded a very limited return over the past 30+ years. Investments also come with substantially higher volatility. ...