ETFs · Podcast

Katie Stockton Still Sees a Bull Market. So Why Is Her ETF Only 50% in Stocks?

For advisors weighing narrow market leadership and defensive ETF positioning, the discussion lays out how breadth, yields and credit spreads feed into one manager's tactical process. It also offers a concrete look at rules-based sector and Bitcoin ETF strategies.

Streams from the publisher’s own feed. Nothing loads until you press play.42 min

On the publisher’s site

Summary

By the etfs desk

Katie Stockton of Fairlead Strategies joins Excess Returns to discuss why the S&P 500 can reach record highs while many individual stocks struggle, focusing on market breadth, Treasury yields, credit spreads and sector leadership. She explains the signals that would change her bullish outlook and why the Fairlead Tactical Sector ETF held roughly half its assets in equities at the time of the conversation. The episode also covers small caps, gold, oil and Bitcoin, including the BNAV ETF's tactical Bitcoin strategy.

Stockton sees the bull market as intact even as weaker participation leaves many individual stocks struggling.
She says weak breadth alone is not a reliable market-timing signal.
The episode examines Treasury-yield breakouts and credit spreads as longer-term risk gauges.
The TACK ETF's rules-based approach produced roughly 50% equity exposure at the time of the conversation.

Chapters

From the publisher’s description

Time	Chapter	Length
	The bull market and weakening breadth	6 min
	Narrow leadership and small-cap weakness	8 min
	Treasury yields, breakouts and resistance	5 min
	Credit spreads and sector leadership	6 min
	TACK positioning, semiconductors and international stocks	5 min
	Gold, oil and Bitcoin: reading the trends	5 min
	Bitcoin indicators and the BNAV strategy	4 min
	Credit, volatility and tech: the year-end risk watch	2 min

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