Tactical ETF Performance Commentary 3Q19

This one-page report details what contributed to and detracted from performance for the Sage Tactical ETF Strategies in the third quarter. Within our equity allocation, we increased exposure to U.S. consumer staples and real estate sectors, added U.S. small cap, reduced U.S. value-oriented equities, and reduced international equities. Within our fixed income allocation, we extended duration of the portfolio, added IG corporate exposure, and added TIPS exposure.