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See exactly how PAMC's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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A strategy driven exchange traded fund that aims to provide capital appreciation over time by rotating among momentum, quality, value and volatility factors within S&P MidCap 400 companies.
PAMC selects mid-cap stocks based on a factor rotation strategy involving high or low momentum, quality, value, and volatility. PAMC has a 0.60% expense ratio and $75 million in assets. The strategy is proprietary, but I believe key inputs are yield changes. The sharp increase from September to January coincides with PAMC's rotation to low quality, highly volatile stocks. PAMC has outperformed its benchmark, but its win rate is only 51.8%, casting doubt on the strategy's long-term usefulness. Furthermore, its success is mainly due to emphasizing the momentum factor.
Investors can consider a dynamic factor-based exchange traded fund strategy to alternate between S&P 500 investment factors in response to market changes.
Market rotations happen all of the time. There are rotation strategies that can move with the market and help investors maximize gains over time.