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Results
Results
Monthly Performance Report / October 2019
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INVESTMENT STRATEGY AND OBJECTIVES
Outcome Wealth Management manages portfolios comprised of large, liquid ETFs. Our strategies are designed to provide efficient global diversification, offer better protection in bear markets, and deliver higher long-term returns
MONTHLY RESULTS
GTAA Growth (CAD-based accounts)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | -- | -- | -- | -- | -- | -- | -- | 0.1% | 0.5% | 1.6% | 0.5% | 1.3% | 4.1% |
| 2018 | 1.3% | -2.7% | -0.3% | -0.2% | 0.6% | 0.8% | 0.9% | 0.9% | -1.1% | -1.7% | 0.2% | 1.6% | 0.2% |
| 2019 | 0% | 0.7% | 1.4% | 1.5% | -2.9% | 0.7% | -0.2% | 3.7% | 0.4% | 0.6% | -- | -- | 5.9% |
GTAA Growth (USD-based accounts)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | -- | -- | -- | -- | -- | -- | -- | 1.3% | 0.9% | 1.1% | 0.5% | 1.4% | 5.3% |
| 2018 | 2% | -3.4% | -0.2% | -0.1% | 0.4% | 0.6% | 1% | 0.7% | -0.4% | -2% | -0.1% | 0.9% | -0.7% |
| 2019 | 1.1% | 0.3% | 1.6% | 1.5% | -2.9% | 1.3% | -0.2% | 2.9% | 0.6% | 1.1% | -- | -- | 7.4% |
PORTFOLIO ALLOCATION
In October, the GTAA strategy had a 30% exposure to stocks that was equally split between the U.S., Japan and Canada. While U.S. and Japanese equities rose 2.21% and 3.42%, respectively, Canadian stocks were a notable laggard, falling 1.03%
The additional 50% of the portfolio that was allocated to “risk-on” positions contributed to October’s positive return and was equally spread across U.S. REITs (+1.13%), international REITs (+3.72%), U.S. preferred shares (+0.42%), U.S. high yield bonds (-0.01%) and emerging market sovereign bonds (+0.57%).
The remaining 20% of the portfolio was allocated to “risk-off” assets and detracted from October’s performance. Specifically, our 10% position in long-term Treasuries declined 1.11%, and our 10% exposure to short-term U.S. investment grade corporate bonds rose 0.50%.