Equity Rotation
Split Rock Private Trading and Wealth Management LLC (“Split Rock”) strategically manages its Equity Rotation SMA by continually monitoring which phase of the economic cycle we are currently in. Split Rock then invests in companies that it believes are best positioned within the current cycle. On an ongoing basis, Split Rock makes tactical adjustments based on geopolitical events and various micro and macro-economic factors.
Performance Chart
All performance information is of the Portfolio Manager account, net of management fees.
All performance information is of the Portfolio Manager account net of management fees, and not of any investing client accounts.
Actual client returns will differ based on client-specified security exclusions, client cash flow behavior (investments and divestments), and trading restrictions placed on client accounts by brokerage.
The management fees applicable to Interactive Advisors proprietary portfolios are actually charged to
the Interactive Advisors accounts managing those portfolios, whereas the management fees applicable to
Portfolio Manager portfolios are applied retroactively as simulated fees to the Portfolio Manager account returns (as
Interactive Advisors does not manage or control these accounts) for purposes of this net-of-fees performance presentation only.
Performance, composition and volatility could vary significantly from that of the benchmark(s), which are
provided for illustrative purposes only.
This information was calculated up to Nov 19, 2024.
Metrics
Performance
The performance table shows the returns over various time periods, including the time periods that are clickable on the chart, calendar years and also the Since inception (annualized) performance which is the year over year growth rate of portfolio asset value.
| Last 30 days | 1.1% |
| Last 90 days | 5.6% |
| Last 365 days | 33.4% |
| Last 5 years | 100.0% |
| Since inception (Apr 25, 2018) | 120.3% |
| Since inception (annualized) | 12.8% |
| 2024 (YTD) | 26.8% |
| 2023 | 19.4% |
| 2022 | -18.7% |
| 2021 | 5.3% |
| 2020 | 48.0% |
| 2019 | 25.3% |
Risk metrics (last 365 days)
The risk metrics table is only present for portfolios with more than a 365 day track record which is needed to meaningfully compute the summary risk metrics.
You can learn more here.
| Volatility
The standard deviation of portfolio returns; a measure of risk. |
13.4% |
| Sharpe ratio
A measure of risk-adjusted portfolio return. |
2.07 |
| Sortino ratio
A measure of portfolio return adjusted for down-side volatility. |
2.81 |
| Maximum drawdown
Maximum value lost from peak to trough over the last year. |
-9.3% |
| Value-at-risk (95%, 1 week)
Estimates the potential loss of a portfolio with a specified confidence level and time horizon. |
-3.1% |
Estimate your costs
All costs shown are estimated and consist of the annual management fee applicable to the specific portfolio displayed. We compute the annual management fee applicable to your investments daily and charge it to you monthly in arrears or in conjunction with a withdrawal.
On a daily basis, the applicable fee associated with each portfolio you invest in will be applied to the end-of-day gross market value of your investment in that portfolio and the resulting amount will be divided by 365. At the end of each month, you will be charged a fee made up of the sum of all daily fees calculated during that month for each portfolio investment. The more assets you invest in a given portfolio with us, the higher the amount of the annual fee charged to you.
No trading commissions apply to trading in any of the portfolios due to the IBKR-LITE commissions structure we have selected for all of your clients. For portfolios including ETFs, additional expense ratios will need to be paid to the ETF issuer and they are not included in this calculation.
Portfolio information
Our research begins with all publicly traded companies listed on the NYSE, Nasdaq, and AMEX. We then identify sectors that in our view may stand to benefit from the economic phase we believe we are currently in or evolving into. We then screen the stocks within the identified sectors using fundamental and technical analysis. We conclude by cross checking our internal research with other well-respected analyst recommendations before we make our final selections.
Split Rock Private Trading & Wealth Management strategically manages its Equity Rotation SMA by continually monitoring which phase of the economic cycle we are currently in. Economic cycles are divided into 4 separate phases: early cycle, mid cycle, late cycle, and recession. Based on which cycle we deem the economy to be in, we make judgments about whether some sectors may stand to benefit over others. For example, in a recessionary phase, defensive stocks such as consumer staples tend to outperform the wider market. Even during periods of high unemployment and economic recession, people still need consumer staple companies to provide them with food, beverages, toilet paper, soap, etc. Inversely, in an early cycle recovery, consumer discretionary stocks tend to outperform. For example, as unemployment falls, more people have money to spend on discretionary items such as new TVs, cars, etc.
Our strategy is driven primarily by fundamental analysis. We tend to favor companies with consistent growth and stability of earnings and dividends, limited debt, low P/E multiples relative to peers, and strong cash flows. We supplement our research with technical analysis, focusing on moving averages and support levels, as well as identifying current and potential industry trends.
Our sell discipline is based on many factors including but not limited to:
1. Strategic and tactical adjustments as discussed earlier.
2. Using trailing limit orders to help protect gains or minimize losses.
3. Ongoing fundamental and technical analysis.
Portfolio updates
Manager
Split Rock
Split Rock Private Trading & Wealth Management is a registered investment adviser based in Minneapolis.
Split Rock provides access to several specialized investment portfolios. They currently operate and manage an Equity Rotation portfolio that strives to identify and understand economic and business cycle conditions and allocate funds accordingly. Split Rock also manages a North American Shale Energy portfolio that seeks to invest into the Bakken and other various major U.S. Shale plays. It invests funds according to each individual company’s strength of position and growth potential within those shale deposits.
Investment process
Split Rock employs a top down, fundamentally driven approach to investing. Portfolios are adjusted on a regular basis depending on economic and geopolitical conditions.
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Disclosures
Past performance is no guarantee of future results, and all investments, including those in this portfolio, involve the risk of loss, including loss of principal and a reduction in earnings.
This portfolio was launched on Interactive Advisors on April 25, 2018, when clients were able to start investing in it. All performance information on this page is actual performance of the Portfolio Manager’s account and presented “net of fees”. The actual performance chart is provided for informational purposes only, and should not be used as the basis for making an investment decision. Actual client returns will differ. All Portfolio Manager information including personal data, profiles, and strategies has been provided by the Portfolio Manager. Interactive Advisors makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Interactive Advisors.
All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Performance of the Portfolio Manager's account is calculated by Interactive Advisors on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions (when commissions were charged). Manager returns include trades and positions that fail Interactive Advisors' trading rules, as a result, actual client returns will differ. Interactive Advisors’ advisory fees are simulated and applied retroactively to present the portfolio return “net-of-fees”.
In addition to Interactive Advisors’ management fees, clients will also be charged management fees and other expenses (custodian fees, brokerage commissions, and legal and accounting fees) by ETF issuers if the portfolio contains ETFs.