MARTINSVILLE, NJ / ACCESSWIRE / May 17, 2023 / The Robo Report® Edition 27 has been released today covering the first quarter of 2023, announced Ken Schapiro, MBA, CFA, Founder and CEO of Condor Capital Wealth Management.
The Robo Report has accumulated 5-year track records for many top robo advisors. This edition tracks 42 accounts at 27 different providers.
"When looking at the equity portfolios in the one year numbers, Fidelity Go took the top spot thanks to, in part, a notable mega-cap and large-cap bias," said David Goldstone, CFA, Manager of Investment Research at Condor.
"For the one year fixed income numbers, Zacks is one of the most active robo advisors we track and was impressive in this regard, as it held a duration of just 4.0. We commend the low-duration profiles of Ellevest and Zacks at a time when investors needed protection the most," noted Goldstone.
"For three year trailing numbers, Schwab portfolios held modest exposures to TIPs and high-yield corporates, which significantly outperformed their traditional investment-grade counterparts," said Thomas Leahy, CFA, Financial Advisor at Condor.
"The story for our Wealthfront portfolio is quite clear: the robo advisor's bold allocation to energy stocks was a boon to investors. Meanwhile, Schwab's Domestic Focus portfolio benefitted from a few different choices, namely its fundamental-weighted ETFs," added Leahy.
Kristopher Jones, CFA, Financial Analyst for Condor added, "Furthermore, our Schwab portfolios held modest exposures to TIPs and high-yield corporates, which significantly outperformed their traditional investment grade counterparts."
5-Year Trailing Top Performers
Total Portfolio: Wealthfront (Risk 4.0; 2016) Best; Zacks Advantage is 2nd and Fidelity Go is 3rd
Equity Portfolio: Zacks Advantage is Best; Acorns is 2nd and Wealthfront (Risk 4.0; 2016) is 3rd
Fixed Income: Wealthfront (Risk 4.0; 2016) Best; Zacks Advantage is 2nd and Vanguard P.A.S. comes out 3rd
3-Year Trailing Top Performers
Total Portfolio: Wealthfront (Risk 4.0; 2016) Best, Schwab Domestic Focus 2nd and Zacks Advantage is 3rd
Equity Portfolio: Wealthfront (Risk 4.0; 2016) is Best; Schwab Domestic Focus 2nd and Zacks Advantage is 3rd
Fixed Income: Schwab is Best, Schwab Domestic Focus is 2nd and Fidelity Go is 3rd
1-Year Trailing Top Performers
Total Portfolio: Fidelity Go is Best; Wealthfront (Risk 4.0; 2016) 2nd and Ellevest is 3rd
Equity: Betterment Broad Impact SRI is Best; Wealthfront (Risk 4.0; 2016) 2nd and Ally Invest Robo Portfolios is 3rd place
Fixed Income: Zacks Advantage is Best; E*Trade Core SRI 2nd and Fidelity Go is 3rd.
"We've made some changes to how the report is presented, but most importantly, equity and fixed income returns will be published as gross of fees in this report and going forward. Importantly, total returns are still published as net of fees. said Mr. Goldstone.
Performance is partly based on The Robo Report's innovative method to compare globally diversified portfolios called Normalized Benchmarking. A methodology of Normalized Benchmarking, details of how they create the scores and ranking and the Robo Report® and the Robo Ranking® are all available for free at https://www.theroboreport.com.
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SOURCE: The Robo Report
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