The Factor Report

Market Wrap

For the week ended April 3rd, 2026, stocks finally reversed course and headed higher. Bonds were also higher for the week as the iShares Core US Aggregate Bond ETF (AGG) rose 0.69% with yields falling; the 10-year US treasury yield dropped to 4.31%, according to Yahoo Finance. Asset price drivers of the week:

• Some fairly positive data didn't matter again this week as it continues to be all about the war with Iran. There was a big jump on Tuesday when Trump said that he was willing to end the war without a reopening of the Strait of Hormuz and the optimism leaked into Wednesday. Thursday was a choppy day as indices fell early after Trump promised more strikes against Iran (in his speech Wednesday night), but recovered later on hopes of reopening the Strait. On Friday, markets were closed in observance of Good Friday, so we didn't get a reaction to a March jobs report that showed the US adding far more jobs than expected and a slight drop in the unemployment rate.
• Next week will be relatively quiet from a data perspective, although we will get two key inflation indicators. The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures price index, will be released on Thursday and will be quickly followed on Friday by the Consumer Price Index. We will also get to see how investors react to Friday's jobs report.

Performance Summary

As shown in the chart, the US was this week's winner with Non-US Developed not far behind. Emerging Markets was a distant laggard. Within the US, the Tech-heavy Nasdaq bested the broader S&P 500, leaving the Dow Jones Industrial Average behind. From a factor perspective, Momentum and Quality outperformed the global All Country World Index (ACWI).

In The News

Some words of wisdom from the Oracle of Omaha, Warren Buffett.

https://www.thinkadvisor.com/2026/04/02/warren-buffett-6-nuggets-on-markets-berkshire-and-epstein/?kw=Warren%20Buffett%3A%206%20Nuggets%20On%20Markets,%20Berkshire%20and%20Epstein&utm_position=1&utm_source=email&utm_medium=enl&utm_campaign=dailywire&utm_content=20260402&utm_term=tadv&oly_enc_id=3992A1328267B3X&user_id=3d158419d93f4751d4b3b79dd78d9abf446b89b61e92e7567cb4126b86cb53c5

Have some kiddos interested in investing? Schwab is addressing that...

https://www.thinkadvisor.com/2026/03/26/schwab-launches-teen-investment-account/?kw=Schwab%20Rolls%20Out%20Teen%20Investment%20Account&utm_source=email&utm_medium=enl&utm_campaign=earlywire&utm_content=20260327&utm_term=tadv&oly_enc_id=3992A1328267B3X&user_id=3d158419d93f4751d4b3b79dd78d9abf446b89b61e92e7567cb4126b86cb53c5

A new bill proposes getting rid of the Social Security earnings test.

https://www.thinkadvisor.com/2026/03/26/new-bill-repeals-social-security-earnings-test/?kw=New%20Bill%20Repeals%20Social%20Security%20Earnings%20Test&utm_position=1&utm_source=email&utm_medium=enl&utm_campaign=dailywire&utm_content=20260326&utm_term=tadv&oly_enc_id=3992A1328267B3X&user_id=3d158419d93f4751d4b3b79dd78d9abf446b89b61e92e7567cb4126b86cb53c5

Disclosures

Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s). Moreover, you should not assume that any of the above content serves as the receipt of, or as a substitute for, personalized investment advice from Metric Financial.

All data and performance information sourced from Morningstar and MarketWatch, unless otherwise indicated.

USA is the MSCI USA index, Non-US Developed is the MSCI EAFE index, Emerging Markets is the MSCI Emerging Markets index, and All Country World is the MSCI ACWI index. One cannot invest in an index. Because the factor indexes have varying inception dates, some of the returns provided are back-tested and do not represent actual performance. Inception dates are as follows:

Momentum = MSCI ACWI Momentum NR USD Index (Inception: 11/30/95)

Value = MSCI ACWI Enhanced Value NR USD Index (Inception: 5/29/15)

Quality = MSCI ACWI Quality NR USD Index (Inception: 5/29/92)

Low Volatility = MSCI ACWI Minimum Volatility (USD) NR USD Index (Inception: 5/28/93)

Size = MSCI ACWI Risk Weighted NR USD Index (Inception: 4/6/11)

Metric Financial, LLC (“Metric”) is a registered investment adviser offering advisory services in the State of Connecticut and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. Follow-up or individualized responses to consumers in a particular state by Metric in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant to an applicable state exemption.

All written content is for information purposes only. Opinions expressed herein are solely those of Metric, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.