Fundametrics® International Small Cap Equity
Q1 2021 Performance Summary and Observations
- The Fundametrics International Small Cap strategy returned 7.66% for the quarter, outperforming the FTSE Developed ex-US Small Cap index return of 4.34%.
- Alpha Composite “Buy” rated stocks outperformed “Sell” rated stocks by 1.77%. February and March’s Alpha Composite results were strong after January when we saw the worst decile-ranked stocks of the composite perform the best.
- Value style attributes generally fared better than many growth, quality, and momentum factors for the quarter. However, we still see further opportunity for the value style as the most expensive companies trade at 21.1x their two-year forward P/E multiple versus 9.9x for their least expensive counterparts, which represents a 113% premium compared to a historical average of 69% premium.
- Results from Financial Warnings overlay were mixed. Buys that passed all screens outperformed Avoid-rated stocks, but underperformed the stocks rated as Fail by 1.2%. The Fail-rated stocks typically carry multiple measures of high risk.
Contact Derek Tubbs at CornerCap Institutional for the full report: 404-445-5117.
Access to full report DISCLOSURES.