October 17, 2025: We recommend the following adjustment…
As you’ll see in this month’s issue published later today, we are making the following adjustments to our Model Fund Portfolio to more closely reflect the allocation following year-to-date relative gains:
- The Van Eck Vectors Gold Miners ETF (Symbol: GDX) position has increased from 4% to 7%.
- The ProShares S&P 500 Dividend Aristocrats ETF (Symbol: NOBL) has decreased from 16% to 15%.
- The Energy Select Sector SPDR Fund (Symbol: XLE) has decreased from 6% to 5%
- The Consumer Staples Select Sector SPDR Fund (Symbol: XLP) has decreased from 7% to 6%.
It should be noted that gold has been our strongest performer this year, with the Van Eck Vectors Gold Miners ETF (Symbol: GDX) increasing more than +149% through yesterday’s close. While GDX has slipped this morning, giving back the last two days of gains, it has still risen over +130% year-to-date and our Model Fund Portfolio is up +8.9% – a remarkable performance considering our near-40% defensive Treasury position.
This is not a new recommended trade, but an adjustment to more closely reflect the allocation of the holdings in the Model Fund Portfolio. We continue to see value in all the carefully chosen components of the Portfolio and remain steadfast in our Safety-First Strategy.
The Model Fund Portfolio remains 57% invested in quality equity ETFs, 5% in an intermediate Treasury ETF, and 38% cash. The cash portion of the Portfolio (38%) is held in short-term Treasurys or a money market fund to provide an attractive yield and defensive buffer.