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February 1, 2021

Stance's Q4 2020 Performance Summary

Growth of $1,000 investment over time

Q4 2020 Performance Commentary

After a very strong Q3 and strong YtD performance, the Stance model underperformed in Q4, but still outperformed in 2020 overall.

  • Stance selection skill reverted towards the mean after a very strong Q3 where 38% of portfolio positions outperformed the S&P500 vs. 59% of stocks in the top 500 by market cap universe.** Despite the low total return hit rate, the portfolio had an annualized risk adjusted outperformance of over 2% in Q4***.
  • The five largest absolute contributors to portfolio total return** were HLT, IDXX, MSCI, GRMN and WAT, representing 32.8% of the total absolute performance.
  • Risk Management: The largest drawdown the portfolio suffered was 6.44% vs 7.43% for the SP500, this was done while having an intra quarter beta of 0.84. ***

 

**Using holding dates of 2020-10-01 / 2020-12-31

***These risk management numbers are calculated from daily returns generated by using a frictionless simulation of the Stance Strategy and represent gross numbers assuming the strategy was invested on 2020-10-01 and ending on 2020-12-31

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Stance Capital, LLC claims compliance with the Global Investment Performance Standards (GIPS®).

Stance Capital, LLC is a Registered Investment advisor (RIA) with the Securities and Exchange Commission, primarily focused on constructing and bringing to market public equity portfolios that mitigate material risk and generate excess returns while at the same time allowing investors to align their capital with their belief systems.

To obtain a compliant presentation and the firm’s list of composite descriptions, email bdavis@stancecap.com.