Q3 GDP beat at 3.4%, core inflation just logged a 67th straight month above the Fed’s 2% target, and markets were pricing a 69% chance of a December hike as of Friday.
Main’s research team unpacks how they fit together in this week’s Weekly Market Note: youtube.com/watch?v=gtvs16x-…
Model portfolios are becoming easier to scale, but harder to distinguish.
With active ETFs now in half of advisor models, the shift goes beyond adoption. Active strategies are becoming core building blocks, giving advisors more ways to address index concentration, diversify exposures and differentiate portfolios without sacrificing scalability.
Main Management CEO/CIO Kim Arthur shares his perspective alongside Elise Terry of @BlackRock and Ty Peebles, CFA of @WestEndAdvisory in a new Barron's Custom Content sponsored feature exploring what this evolution means for advisors and the future of portfolio construction.
Read the feature: partners.barrons.com/blackro…
September added just 29,000 jobs and July was revised back into negative territory, yet participation climbed to 61.8% as people came back into the labor force, which is why this report reads very differently depending on which page you stop on.
Full breakdown on our YT: youtube.com/watch?v=smIRiSRy…
After 65 straight months of core inflation above the Fed's 2% target, markets more than doubled the odds of an October hike in a single week, from 27% to about 58%.
What is keeping inflation sticky even with oil down 7%? Watch our latest Weekly Market Commentary to find out: youtube.com/watch?v=knES3wex…
#Inflation #FOMC #Fed #InterestRates #CorePCE #Macro #Market
With @Dreamforce in our backyard this year, it meant a front-row seat to where AI in financial services is headed next.
Our lens was simple: where can this rapidly evolving technology help us work smarter and create more capacity for advisors, while strengthening the judgment, interpersonal relationships and partnerships that define Main?
Thanks for having us @salesforce for three days of ideas, innovation and plenty to bring back to HQ.
Diesel just hit an all-time high of $5.97 a gallon while core inflation sits at its lowest level since March 2021, which is a stranger combination than it sounds and the reason this week's Fed meeting is getting so much attention.
Full breakdown: youtube.com/watch?v=Sbk3T8lL…
As Main has grown, so have the ways we partner with and support our clients. Our new websites makes it easier to see what that partnership looks like in practice. The new mainmgt.com & mainmgtetfs.com are live.
This new experience is designed around the people who use it: advisors, institutions and family offices seeking a clearer view into how we invest and the philosophy, perspectives and people behind our approach.
A few highlights to explore:
• Clear, plain-language overviews of all our strategies, where each one could potentially fit and the deeper thinking behind them:
• Resource Portal with current fact sheets, quarterly letters and presentations for every strategy, plus our latest research & market commentary, all in one place: mainmgt.com/resources/
• Our new Events calendar featuring the latest opportunities to engage with Main, including our Advisor Summit Series, a two-day on-site due diligence experience at our San Francisco office with the core teams behind the strategies. mainmgt.com/events/
Main Management has been a partner-owned, independent asset manager since 2002, and one of the early pioneers of ETF portfolio management.
Explore our new homepage and discover more of what’s behind Main Management here: mainmgt.com/
We’re proud to share: Main Thematic ETF (TMAT) received a 5-Star Overall Morningstar Rating™ – out of 170 funds in the US Fund Global Small/Mid Stock category, based on risk-adjusted returns as of 9/30/2025.
Main Management has applied sector-rotation investing with ETFs for 20+ years, so we know the strengths – and the limitations – of sector-level investing. TMAT aims to address one of the largest limitations: sectors tend to reflect today’s business models rather than emerging growth opportunities, especially in nascent technologies.
Within TMAT, we allocate to specific long-term themes and to leaders within those themes that exhibit traits common to durable innovators: accelerating revenue, improving estimate trends, and reinvestment into scalable platforms. The strategy blends our two areas of specialization: long-term wealth generation through market cycles and a forward-looking lens shaped by our San Francisco roots – where many of the next generation’s leading companies are being built right in our backyard.
See ETF website for full context: mainmgtetfs.com/tmat/
Disclosures: Based on risk-adjusted returns, TMAT was also rated 5-stars by Morningstar for the 3-year period out of 170 in the US Fund Global Small/Mid Stock category for the period ending 9/30/2025. There is no 5-year or 10-year rating due to the Fund inception date of 1/28/2021.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life sub-accounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable)
Morningstar Rating metrics. © 2025 Morningstar All Rights Reserved.
Past performance does not guarantee future results. 20251111-4967160
We’re proud to share: Main Thematic ETF (TMAT) received a 5-Star Overall Morningstar Rating™ – out of 166 funds in the US Fund Global Small/Mid Stock category, based on risk-adjusted returns as of 7/31/2025.
Main Management has applied sector-rotation investing with ETFs for 20+ years, so we know the strengths – and the limitations – of sector-level investing. TMAT aims to address one of the largest limitations: sectors tend to reflect today’s business models rather than emerging growth opportunities, especially in nascent technologies.
Within TMAT, we allocate to specific long-term themes and to leaders within those themes that exhibit traits common to durable innovators: accelerating revenue, improving estimate trends, and reinvestment into scalable platforms. The strategy blends our two areas of specialization: long-term wealth generation through market cycles and a forward-looking lens shaped by our San Francisco roots – where many of the next generation’s leading companies are being built right in our backyard.
See ETF website for full context: mainmgtetfs.com/tmat/
Disclosures: Based on risk-adjusted returns, TMAT was also rated 5-stars by Morningstar for the 3-year period out of 166 in the US Fund Global Small/Mid Stock category for the period ending 7/31/2025. There is no 5-year or 10-year rating due to the Fund inception date of 1/28/2021.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life sub-accounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category
receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable)
Morningstar Rating metrics. © 2025 Morningstar All Rights Reserved.
Past performance does not guarantee future results.
20250815-4732428
This week’s Market Note with Alex Varner (Head of Research) and James Maxwell (VP of Research) covers:
- Markets climb: S&P +2.5%, led by Consumer Discretionary & InfoTech. Healthcare and Energy slip into negative YTD.
- Trade gap narrows: Deficit at $60.2B, lowest since Sept. 2023. Imports (-3.7%) and exports (-0.5%) ease post-tariff surge, with U.S. businesses absorbing most costs via margin compression.
- Productivity rebounds: Q2 +2.4% QoQ, best output growth since Q3 2023. Manufacturing logs 5 straight quarterly gains.
- Debt rises, delinquencies tick up: Household debt hits $18.4T (+$185B QoQ). Severe delinquency rates edging higher but remain below long-term medians.
- Mixed manufacturing & credit: Factory orders fall on transport volatility; ex-transports +0.4%. Consumer credit growth accelerates, driven by non-revolving loans.
Watch the full recap and hear how these trends shape the macro outlook: youtu.be/Jis-BW3Dmjc?feature…
This week’s Market Note with Alex Varner (Head of Research) and James Maxwell (VP of Research) covers:
- Business Survey Data: NFIB expectations and capex plans tick higher despite headline slippage.
- Bitcoin: Quietly making record highs.
- Copper: Futures jump on talk of tariff risks, flagging cost pressure.
- S&P 500: Dividend yield near a 150-year low as dynamics have shifted.
- Inventories: Durable-goods stockpiles post their steepest drop since 2020.
Watch the full recap and hear how these trends shape the macro outlook: youtu.be/kpBW-Kk5iw4
“Trust, transparency, and true partnership.”
In this candid conversation between Kim and @RustyVanneman , Main Management’s new Advisory Board Chairman Rusty Vanneman, CMT, CFA, BFA™ shares why joining Main Management was an easy decision — and what sets the firm apart after decades of due diligence across the industry...
This is a must-watch and/or listen episode: youtu.be/ZctJpc9cBkk
This week’s Market Note conversation with Alex Varner (Head of Research) and James Maxwell (VP of Research) covers a full slate of developments across geopolitics, Fed policy, and key macroeconomic data...
Click here to watch the full episode for in-depth insights on what’s driving markets and where things may be headed next: youtu.be/QQe-995xdVM?feature…
Highlights include:
- Israel–Iran tensions escalate, pushing oil and energy prices higher
- FOMC holds rates steady; projections still call for two cuts in 2025 despite weaker GDP and rising inflation expectations
- Retail sales, industrial production, and housing all show soft data as high interest rates and prices weigh on demand
- The U.S. deficit remains in focus, with spending outpacing revenue despite tax inflows
Looking ahead, the team previews key data to watch — including the final Q1 GDP release and the all-important Core PCE and consumer spending figures due Friday. Be sure to check back weekly for regular updates from the team at Main Management.
This week’s Main Management Weekly Market Note with Alex Varner & James Maxwell dives into the latest CPI release, where inflation cooled more than expected as tariffs didn’t spark the price jump many feared.
We break down why core inflation is at its lowest since March 2021, how tariff impacts are shaping up to be more contractionary than inflationary, and what it means for the Fed’s next move.
Watch the full update for expert insights on inflation trends, policy risks, and the path forward for markets: youtu.be/-lDBirjgvXI
This content is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. All views expressed reflect current analysis as of the date of recording and may change without notice.
This week’s Main Management Weekly Market Note covers everything from inflation trends to surprising consumer strength and a look ahead at key economic data. Plus, we announce our new Chairman of the Advisory Board - @RustyVanneman !
Watch the full update for expert insights on market dynamics and what’s next: youtu.be/K0Sdu9e4WNM
Main Management is excited to announce Rusty Vanneman as our new Chairman of the Advisory Board. Rusty is a widely respected investment executive with over 35 years of experience in the financial industry. A long-time friend of the firm and a yearly speaker at our Top Advisor Conference, Rusty epitomizes our core values of “Client First, Exceptional Service.” We are thrilled to have him help advise on our next chapter of growth in the coming years.
Access Rusty's full bio via the link below:
mainmgt.com/our-advisory-boa…
