Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (ARCA: XRLV)

Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (ARCA:XRLV), Quote.Headers.trade-ideas

Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF

PowerShares S&P 500 ex-Rate Sensitive Low Volatility Portfolio

Industrials

Consumer Defensive

Financial Services

Utilities

Healthcare

Technology

Consumer Cyclical

Communication Services

Energy

Basic Materials

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Other

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to provide exposure to the 100 constituents of the S&P 500 Index that exhibit both low volatility and low interest rate risk. The underlying index is designed to include stocks exhibiting low volatility characteristics, after removing stocks that historically have performed poorly in rising interest rate environments.

Berkshire Hathaway, Inc.

Republic Services Inc. Class A

Coca Cola Co.

Colgate-Palmolive Co

Walmart Ord

Marsh & Mclennan Cos., Inc.

Tjx Cos., Inc.

Johnson & Johnson

Roper Technologies Inc.

Loews Corp.

Analyst Color

Long Ideas

Broad U.S. Equity ETFs

Dividends

Analyst Ratings

Trading Ideas

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OEUR

OUSA

PowerShares S&P 500 Low Volatility Portfolio

SPLV

XRLV

Some ETF Sequels Are Worth Embracing

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Bonds

Markets

Sticking With Low Volatility As Rates Rise

Specialty ETFs

Futures

FDRR

Another Rising Rates ETF On The Way

BMO Capital analyst Andrew Strelzik maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Market Perform and raises the price target from $165 to $175.

News

Price Target

BMO Capital Maintains Market Perform on Darden Restaurants, Raises Price Target to $175

Cantor Fitzgerald analyst Kristen Kluska reiterates Ultragenyx Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RARE#NASDAQ">RARE</a>) with a Overweight and maintains $116 price target.

Reiteration

RARE

Cantor Fitzgerald Reiterates Overweight on Ultragenyx Pharmaceutical, Maintains $116 Price Target

Shares of NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) are rallying after the company appointed Elliott Hill <a href="https://www.benzinga.com/news/24/09/40957353/nikes-new-ceo-elliott-hill-to-focus-on-repairing-retailer-relations">as its new CEO</a>, aiming to rejuvenate sales by mending ties with retailers.
But as you can see on the chart, the shares ran into resistance around $88.50. This isn't a surprise. It's why our team of trading experts has made it our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
There is resistance around the $88.50 level because it was support in April. Price levels that had previously been support can convert into resistance. This is a common occurrence not just in the stock market, but it all financial markets.
Technical analysis patterns can form on charts because of investor and trader psychology. Support turns into resistance due to regretful buyers.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="632" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20122034/1-20-1024x632.png" alt="" class="wp-image-558818" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20122034/1-20-1024x632.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20122034/1-20-300x185.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20122034/1-20-768x474.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20122034/1-20.png 1182w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/economics/24/09/40961130/are-demographics-destiny-for-the-stock-market">Are Demographics Destiny For The Stock Market?</a>
There are traders and investors who bought <a href="https://www.benzinga.com/quote/NKE">Nike</a> when it was at the support in April. They thought they made the right decision when the stock moved higher soon after.
But in June the support was broken and the shares made a big move lower. When this happened, some of the people who purchased their shares at support came to regret their decisions to do so. At this point, they were losing money.
A number of these remorseful buyers decide to sell their shares. But they don't want to take a loss. As a result of this, when the stock got back to their buy price they placed sell orders. They are trying to get out of their positions at breakeven.
Because there was a large number of these sell orders, it caused resistance to form at the price that was.
As you can see on the chart, the same dynamic occurred at the $97.50 level. It was support in March. Then it converted into resistance in late June.
Sometimes stocks reverse and sell off after they reach a resistance level. This happens when some of the traders and investors who created the resistance with their sell orders become anxious.
They know that the buyers will go to whoever is willing to sell at the lowest price. They worry that other sellers will reduce the prices they are willing to sell at. So, they lower their offering prices. Other anxious sellers see this and do the same thing. It results in a snowball effect that forces the price lower.
Successful traders understand the psychology that causes patterns to form on charts. This allows them to profit.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a></li>
</ul>
Image: Shutterstock

Technicals

Stock Of The Day: Here's Why The Nike Rally Stalled Out

WIIM

ELAN

Elanco Animal Health shares are trading lower after a William Blair analyst highlighted concerns about efficacy and label warnings with its itchy dogs dermatology treatment.

Cantor Fitzgerald analyst Kristen Kluska reiterates uniQure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>) with a Overweight and maintains $28 price target.

QURE

Cantor Fitzgerald Reiterates Overweight on uniQure, Maintains $28 Price Target

Truist Securities analyst Jennifer Demba maintains Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) with a Hold and lowers the price target from $54 to $52.

ZION

Truist Securities Maintains Hold on Zions Bancorp, Lowers Price Target to $52

Friday, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) announced headline results from a phase 2a clinical trial with monlunabant, a small-molecule oral cannabinoid receptor 1 (CB1) inverse agonist.
Monlunabant, formerly INV-202, was part of the acquisition of Inversago Pharmaceuticals Inc. for $1.075 billion, announced in August 2023.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40956171/european-drug-agency-supports-novo-nordisks-blockbuster-weight-loss-drug-wegovy-for-obesity-relat" rel="noreferrer noopener">European Drug Agency Supports Novo Nordisk&#8217;s Blockbuster Weight-Loss Drug Wegovy For Obesity-Related Heart Failure</a>.
The <a target="_blank" href="https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=170501" rel="noreferrer noopener">trial</a> investigated the efficacy and safety of a once-daily 10 mg, 20 mg, and 50 mg of monlunabant compared to placebo on body weight after 16 weeks in 243 people with obesity and metabolic syndrome.
From a baseline body weight of 110.1 kg, all doses of monlunabant achieved a statistically significant weight loss compared to placebo.
After 16 weeks of treatment, people treated with a once-daily 10 mg dose of monlunabant achieved a weight loss of 7.1 kg compared to a reduction of 0.7 kg with a placebo.
Limited additional weight loss was seen at higher doses of monlunabant.
The most common adverse events in the trial were gastrointestinal, with the vast majority being mild to moderate and dose-dependent.
Reporting of mild to moderate neuropsychiatric side effects, primarily anxiety, irritability, and sleep disturbances, was more frequent and dose-dependent with monlunabant compared to placebo.
No serious adverse events were reported about neuropsychiatric side effects.
Based on the results, Novo Nordisk expects to initiate a larger phase 2b trial in obesity in 2025 to further investigate dosing and the safety profile of monlunabant over a longer duration in a global population.
Earlier this week, NanoVation Therapeutics announced a multi-year partnership with&nbsp;Novo Nordisk to advance the development of novel genetic medicines targeting <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40927219/novo-nordisk-inks-600m-genetic-medicines-pact-with-canadian-firm-to-target-cardiometabolic-indica" rel="noreferrer noopener">cardiometabolic and rare diseases</a>.
Novo Nordisk will receive a defined exclusive, worldwide license to use NanoVation&#8217;s LNP technology for the two lead programs. NanoVation will receive research funding and is eligible to receive up to approximately $600 million in up-front cash, potential milestone payments, and tiered royalties on future product sales.
Price Action: NVO stock is down 5.49% at $127.48 at the last check on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40957635/sanofis-tolebrutinib-delays-disability-progression-in-patients-with-multiple-sclerosis-data-shows" target="_blank" rel="noreferrer noopener">Sanofi&#8217;s Tolebrutinib Delays Disability Progression In Patients With Multiple Sclerosis, Data Shows</a>.</li>
</ul>
Photo via Shutterstock

Biotech

Large Cap

Health Care

Movers

General

Novo Nordisk Stock Declines After Headline Results From Mid-Stage Study Of Monlunabant In Obese Patients

Truist Securities analyst Brandon King maintains Wintrust Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>) with a Buy and raises the price target from $118 to $123.

WTFC

Truist Securities Maintains Buy on Wintrust Finl, Raises Price Target to $123

Truist Securities analyst Michael Swartz maintains Winnebago Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) with a Buy and raises the price target from $65 to $68.

Truist Securities Maintains Buy on Winnebago Industries, Raises Price Target to $68

Truist Securities analyst Brandon King maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Buy and raises the price target from $88 to $100.

Truist Securities Maintains Buy on Western Alliance, Raises Price Target to $100

In the ever-evolving world of blockchain, few events have managed to capture the industry&#39;s attention like the <a href="https://koreablockchainweek.com/">Korea Blockchain Week</a> (KBW). Since its inception in 2018, KBW has grown exponentially, positioning itself as a global hub for blockchain innovation, collaboration, and thought leadership. Founded by Seonik Jeon and his organization FactBlock, the week-long event has not only solidified South Korea&rsquo;s place in the global blockchain ecosystem but has also become a cornerstone for connecting international projects with the Korean market.
<h3>The Vision Behind KBW: From Local Challenges To Global Impact</h3>
When Seonik Jeon first conceived the idea of Korea Blockchain Week, the Korean cryptocurrency landscape was in a precarious position. The ICO boom had attracted a wave of speculative investments, many of which led to fraudulent projects that preyed on local investors. For many Koreans, language barriers exacerbated these challenges, making it difficult to assess the legitimacy of international projects. Jeon recognized this gap and envisioned an event that would introduce credible blockchain initiatives to the Korean market.
&quot;The goal from the start was clear: create a platform where Korean investors and developers could engage with trustworthy international blockchain projects,&quot; Jeon recalls. &quot;At that time, Korea was still not on the global radar, but the potential was there.&quot;
Leveraging data that showed a growing association between &quot;Korea&quot; and &quot;blockchain&quot; in global search trends, Jeon saw an opportunity to elevate Korea&rsquo;s presence on the world stage. What started as a response to local challenges has since evolved into a global event that welcomes thousands of participants each year, reflecting both the exponential growth of blockchain technology and Korea&rsquo;s increasing importance in the space.
<h3>KBW 2024: A Showcase Of Innovation And Global Collaboration</h3>
The 2024 edition of Korea Blockchain Week was a resounding success, with record-breaking attendance and participation from leading voices in blockchain technology. Held in Seoul from September 1-7, the event attracted more than 17,000 participants, a 70% increase from the previous year. The highlights of this year&#39;s event underscored the increasingly global nature of the blockchain industry, with discussions focusing on the latest trends in decentralized finance (DeFi), interoperability, and scalability solutions.
Jeon highlighted the panel discussions as a particular point of pride for the event. &quot;This year, we saw an incredible range of topics covered&mdash;everything from the practical applications of NFTs to the future of zero-knowledge proofs in improving blockchain security. The diversity of thought leaders present really showcased how far the industry has come,&quot; he noted.
In addition to the intellectual rigor of the discussions, networking opportunities were a key component of the event&rsquo;s success. Entrepreneurs, developers, and investors from around the world gathered to exchange ideas, explore collaborations, and forge partnerships. The cross-pollination of ideas and expertise is what truly sets KBW apart as a breeding ground for innovation.
Furthermore, the showcase of cutting-edge projects illustrated the momentum of blockchain technology. Startups and established companies alike presented projects spanning everything from DAOs to cross-chain solutions, signaling that the blockchain industry is maturing and shifting toward more practical, value-driven applications.
<h3>Key Takeaways From KBW 2024: The State Of Blockchain In Korea And Beyond</h3>
Several clear trends emerged from KBW 2024 that reflect not only the state of the blockchain industry in Korea but also its trajectory on a global scale.
1. Global Collaboration is Key: 
Discussions at KBW consistently emphasized the importance of global standards and interoperability. With blockchain being inherently decentralized and borderless, the need for international cooperation has never been more apparent.
2. Focus on Regulation and Compliance: 
As blockchain technology continues to grow, so does the need for clear and consistent regulatory frameworks. Speakers at the event stressed the importance of creating an environment that balances innovation with security and compliance. This is particularly crucial as more institutional investors enter the space.
3. Technological Advancements: 
With new developments in blockchain scalability and efficiency, such as layer-2 solutions and zero-knowledge proofs, it&rsquo;s clear that the technology is evolving to support more robust applications. These innovations are paving the way for blockchain to handle large-scale operations, a critical factor for mass adoption.
4. Investment and Adoption are on the Rise: 
The days of blockchain being seen purely as a speculative asset class are fading. Increased adoption by mainstream businesses and governments was a recurring theme, with many participants highlighting practical use cases that extend beyond cryptocurrencies, such as supply chain management and decentralized identity.
<h3>Looking Ahead: The Future Of Korea Blockchain Week</h3>
As KBW continues to grow, Seonik Jeon is already looking ahead to future editions of the event. One of the most exciting developments on the horizon is the launch of FABLO, an app designed to make the blockchain space more accessible to newcomers. Set to launch in the fourth quarter of 2024, FABLO will offer a user-friendly onboarding process to Web3, further expanding the reach and impact of KBW beyond the confines of a once-a-year event.
&quot;Our vision is to build a year-round community that fosters innovation and collaboration, both online and offline,&quot; said Jeon. &quot;With FABLO, we hope to bring even more people into the fold and provide them with the tools they need to navigate the blockchain ecosystem.&quot;
Looking further ahead, KBW aims to deepen its focus on emerging trends and innovations. Blockchain interoperability, decentralized finance, and the convergence of blockchain with technologies like AI and IoT are all areas that Jeon believes will play a significant role in shaping the future of the industry. In addition, KBW is committed to addressing the environmental concerns surrounding blockchain, fostering discussions around sustainable practices and eco-friendly innovations.
As blockchain technology continues to evolve, Korea Blockchain Week has cemented its place as a global leader in shaping the future of the industry. Through its commitment to innovation, collaboration, and investor protection, KBW provides a platform for meaningful discourse, groundbreaking projects, and invaluable connections. With plans to expand both its reach and impact, it&rsquo;s clear that the event will continue to be a beacon for the global blockchain community.
For those eager to stay ahead in the ever-changing world of blockchain, KBW remains an unmissable event&mdash;one that is set to grow in importance as the technology matures and adoption spreads across the globe.
&nbsp;

Tech

Interview

Blockchain's Global Expansion: Insights From An Interview With Korea Blockchain Week's Founder

Cantor Fitzgerald analyst Kristen Kluska reiterates PTC Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) with a Overweight and maintains $64 price target.

PTCT

Cantor Fitzgerald Reiterates Overweight on PTC Therapeutics, Maintains $64 Price Target

Truist Securities analyst Brandon King maintains United Community Banks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) with a Hold and raises the price target from $31 to $32.

Truist Securities Maintains Hold on United Community Banks, Raises Price Target to $32

Cantor Fitzgerald analyst Kristen Kluska reiterates Disc Medicine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRON#NASDAQ">IRON</a>) with a Overweight and maintains $85 price target.

IRON

Cantor Fitzgerald Reiterates Overweight on Disc Medicine, Maintains $85 Price Target

Cantor Fitzgerald analyst Kristen Kluska reiterates Humacyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) with a Overweight and maintains $13 price target.

HUMA

Cantor Fitzgerald Reiterates Overweight on Humacyte, Maintains $13 Price Target

Truist Securities analyst Brandon King maintains Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) with a Hold and lowers the price target from $37 to $35.

TRMK

Truist Securities Maintains Hold on Trustmark, Lowers Price Target to $35

By Lance Roberts
When stock markets rise, the bullish narrative tends to dominate, overlooking the potential impact of market declines. This oversight stems from two main problems: a basic misunderstanding of math and time&rsquo;s critical role in investing. Every year, I receive the following chart as a counterargument when discussing the importance of managing risk during a portfolio&rsquo;s life cycle. The chart shows that while the average bull market advance is 149%, the average bear market decline is just -32%.
So, why bother managing risk when markets rise 4.7x more over the long term than they fall?
<a href="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-1.png"><img alt="Bull and Bear Markets over time measured in terms of percentage gain and loss." src="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-1-1024x651.png" style="height:397px; width:624px" /></a>
As with any long-term analysis, one should quickly realize the most critical issue for every investor&mdash;time.
<h3>The Reality Of Long-Term Stock Market Returns</h3>
Yes, since 1900, the stock market has &ldquo;averaged&rdquo; an 8% annualized rate of return. However, this does NOT mean the market returns 8% every year. As we discussed recently, several key facts about markets should be understood.
<ul>
<li>Stocks rise more often than they fall: Historically, the stock market increases about 73% of the time. The other 27% of the time, market corrections reverse the excesses of previous advances. The table below shows the dispersion of returns over time.</li>
</ul>
<a href="https://realinvestmentadvice.com/wp-content/uploads/2024/03/image-75.png"><img alt="Average Returns Annual" src="https://realinvestmentadvice.com/wp-content/uploads/2024/03/image-75.png" style="height:353px; width:624px" /></a>
However, to achieve that 8% annualized &ldquo;average&rdquo; rate of return, you would need to live for&nbsp;124 years.
<h3>Time Is The Investor&rsquo;s Biggest Challenge</h3>
The average American faces a sobering reality: human mortality. Most investors don&rsquo;t begin seriously saving for retirement until their mid-40s, as the cost of living during earlier years&mdash;college, getting married, having kids&mdash;consumes much of their income. Generally, incomes don&rsquo;t exceed the cost of living until the mid-to late-40s, allowing for a serious push toward retirement savings. Most individuals have just 20 to 25 productive working years to achieve their investment goals.
Investment studies should align time frames with human mortality rather than focusing on&nbsp;&ldquo;long-term&rdquo;&nbsp;average returns. There are periods in history where real, inflation-adjusted total returns over 20 years have been close to zero or negative. Interestingly, these periods of near-zero to negative returns were typically preceded by&nbsp;high market valuations&mdash;as we see today.
<a href="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-2.png"><img alt="Rolling 20 year returns of the market based on trailing valuations" src="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-2.png" style="height:379px; width:624px" /></a>
Time&nbsp;and&nbsp;valuations&nbsp;are the most important factors for those just beginning their investment journey.
<h2>The Problem with Percentage-Based Returns</h2>
Another issue with long-term analysis is the misunderstanding of basic math, as we discussed in&nbsp;<a href="https://realinvestmentadvice.com/market-corrections-matter-more-than-you-think/" rel="noreferrer noopener" target="_blank">&ldquo;Market Corrections.&rdquo;</a>
Charts often show percentage returns, which can be deceptive without deeper analysis. Let&rsquo;s take an example:
If an index grows from 1000 to 8000:
<ul>
<li>1000 to 2000 = 100% return</li>
<li>1000 to 3000 = 200% return</li>
<li>1000 to 8000 = 700% return</li>
</ul>
An investor who bought into the index generated a 700% return. According to First Trust, why worry about a 50% correction when you&rsquo;ve just gained 700%?
However, the problem lies in the percentages. A 50% correction does NOT leave you with a 650% gain. It subtracts 4000 points from the index, reducing your 700% gain to just 300%.
Recovering those lost 4000 points to break even after a market decline is a much harder task. The real damage of a market decline becomes clear when we reconstruct the chart to display&nbsp;point gain/loss versus percentages. In many cases, a significant portion of a bull market&rsquo;s gains are reversed by the subsequent bear market decline.
<a href="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-3.png"><img alt="S&amp;P 500 market returns by bull and bear cycle measured in point gain or loss." src="https://realinvestmentadvice.com/wp-content/uploads/2024/09/image-3.png" style="height:329px; width:624px" /></a>
While markets do recover, mainstream analysis often overlooks one key factor:&nbsp;time.
<h3 id="its-a-time-problem">Market Declines Are A &ldquo;Time&rdquo;&nbsp;Problem.&nbsp;</h3>
For most of us mere mortals,&nbsp;time&nbsp;plays a crucial role in our investing strategy. As shown in previous analyses, investors typically fall short of their expected outcomes when factoring in life expectancy and the time required for recovery from market downturns.
Below is a chart assuming a $1000 investment over each period and holding the total return until death. No withdrawals are made. The orange sloping line represents the&nbsp;&ldquo;promise&rdquo;&nbsp;of a 6% annualized compound return. The black line represents the actual outcome. In all cases except the most recent cycle starting in 2009, the invested capital fell short of the promised return goal.
The next significant downturn will likely reverse many of the gains from the current cycle, highlighting why using&nbsp;compounded&nbsp;or&nbsp;average&nbsp;rates of return in financial planning often leads to disappointment.
<a href="https://realinvestmentadvice.com/wp-content/uploads/2021/09/Life-Expectancy-6pct-Returns-Time-Frames.png"><img alt="Real Total Return vs Life Span" src="https://realinvestmentadvice.com/wp-content/uploads/2021/09/Life-Expectancy-6pct-Returns-Time-Frames-1024x832.png" style="height:507px; width:624px" /></a>
At the point of death, the invested capital is short of the promised goal in every case except the current cycle starting in 2009. However, that cycle is yet to be complete, and the next significant downturn will likely reverse most, if not all, of those gains. Such is why using&nbsp;&ldquo;compounded&rdquo;&nbsp;or&nbsp;&ldquo;average&rdquo;&nbsp;rates of return in financial planning often leads to disappointment.
The reason is that market declines matter, and getting&nbsp;&ldquo;back to even&rdquo;&nbsp;is not the same as accumulating capital.&nbsp;The chart visualizes the importance of market declines by showing the difference between&nbsp;&ldquo;actual&rdquo;&nbsp;investment returns and&nbsp;&ldquo;average&rdquo;&nbsp;returns over time. The purple-shaded area and the market price graph show&nbsp;&ldquo;average&rdquo;&nbsp;returns of 7% annually. However, the return gap in&nbsp;&ldquo;actual returns&rdquo;&nbsp;due to market declines is quite significant.
<a href="https://realinvestmentadvice.com/wp-content/uploads/2021/09/Promised-vs-Real-Returns-091221.png"><img alt="Average versus actual retunrs" src="https://realinvestmentadvice.com/wp-content/uploads/2021/09/Promised-vs-Real-Returns-091221-1024x529.png" style="height:322px; width:624px" /></a>
<h3>Why Time And Valuations Matter For Investors</h3>
Whether you&rsquo;re five years from retirement or just starting your career, there are three key factors to consider in today&rsquo;s market environment:
<ol>
<li>Time horizon&nbsp;(retirement age minus starting age)</li>
<li>Valuations&nbsp;at the beginning of your investment period</li>
<li>Rate of return&nbsp;required to meet your investment goals</li>
</ol>
A&nbsp;buy-and-hold strategy may disappoint&nbsp;if valuations are high when you start investing, and your time horizon is too short or the required return rate is too high.
Mean reversion events often reveal the flaws of&nbsp;buy-and-hold&nbsp;investment strategies. Unlike a&nbsp;high-yield savings account, stock markets experience losses that can devastate retirement plans. (Ask any &ldquo;boomer&rdquo; who lived through the dot-com crash or the financial crisis.)
Investors should consider more&nbsp;active strategies&nbsp;to preserve capital during excessively high valuations.
<h3>Adjusting Expectations For Future Returns</h3>
Investors should consider the following:
<ul>
<li>Adjust expectations for future returns and withdrawal rates due to current valuation levels.</li>
<li>Understand that front-loaded returns in the future are unlikely.</li>
<li>Consider life expectancy when planning your investment strategy.</li>
<li>Plan for the impact of taxes on returns.</li>
<li>Carefully assess inflation expectations when allocating investments.</li>
<li>During declining market environments, reduce portfolio withdrawals to avoid depleting principal faster.</li>
</ul>
The last 13 years of chasing yields in a low-rate environment have created a hazardous situation for investors. It&rsquo;s crucial to abandon expectations of&nbsp;compounded annual returns&nbsp;and instead focus on&nbsp;variable return rates&nbsp;based on current market conditions.
<h3>Conclusion: Don&rsquo;t Chase The Market</h3>
Chasing an arbitrary index and staying 100% invested in the equity market forces you to take on more risk than you may realize. Two major bear markets in the last decade have left many individuals further from retirement than planned.
Retirement investing should focus on&nbsp;conservative, cautious growth&nbsp;to outpace inflation. Attempting to beat a random, arbitrary index with no connection to your personal financial goals is a risky game. Remember, in the market, there are no bulls or bears. There are only those who succeed in reaching their investment goals&mdash;and those who fail.
<hr />
<h3>FAQ Section</h3>
Q: Why is risk management important in investing? 
A: Risk management helps protect your portfolio from significant losses during market declines, ensuring you stay on track to meet your long-term goals.
Q: How do market declines affect long-term returns? 
A: Market declines reduce returns; recovering from a decline can take years. This significantly impacts the overall growth of your portfolio, especially if time is a limiting factor.
Q: What is the best strategy during high market valuations? 
A: During high market valuations, consider more active strategies and focus on preserving capital to minimize losses during market corrections.
<hr />
Focusing on time, valuations, and proper risk management can help you better align your investment strategy with your financial goals and life expectancy.
Lance Roberts is a Chief Portfolio Strategist/Economist for&nbsp;<a href="https://realinvestmentadvice.com/investing/" target="_blank">RIA Advisors</a>. He is also the host of &ldquo;<a href="https://realinvestmentadvice.com/podcasts/" target="_blank">The Lance Roberts Podcast</a>&rdquo; and Chief Editor of the &ldquo;<a href="https://realinvestmentadvice.com/" target="_blank">Real Investment Advice</a>&rdquo; website and author of &ldquo;<a href="https://realinvestmentadvice.com/real-investment-daily/" target="_blank">Real Investment Daily</a>&rdquo; blog and &ldquo;Real Investment Report&ldquo;. Follow Lance on&nbsp;<a href="https://www.facebook.com/RealInvestmentAdvice/" target="_blank">Facebook</a>,&nbsp;<a href="https://twitter.com/LanceRoberts" target="_blank">Twitter</a>,&nbsp;<a href="https://www.linkedin.com/in/realinvestmentadvice/" target="_blank">Linked-In</a>&nbsp;and&nbsp;<a href="https://www.youtube.com/channel/UCXVMMgEidXlrTM1coedg70A" target="_blank">YouTube</a>

Market Declines And The Problem Of Time

Truist Securities analyst Michael Swartz maintains Thor Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) with a Hold and raises the price target from $95 to $105.

Truist Securities Maintains Hold on Thor Industries, Raises Price Target to $105

Financial giants have made a conspicuous bearish move on ServiceNow. Our analysis of options history for ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) revealed 10 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $148,200, and 7 were calls, valued at $331,595.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $400.0 to $1000.0 for ServiceNow over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ServiceNow's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale activity within a strike price range from $400.0 to $1000.0 in the last 30 days. 
<h3>ServiceNow Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726849015_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/04/24</td>
<td>$23.8</td>
<td>$21.2</td>
<td>$21.52</td>
<td>$930.00</td>
<td>$96.7K</td>
<td style="text-align: right;">40</td>
<td style="text-align: right;">88</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$71.2</td>
<td>$67.5</td>
<td>$69.41</td>
<td>$920.00</td>
<td>$70.7K</td>
<td style="text-align: right;">201</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$134.7</td>
<td>$129.8</td>
<td>$132.0</td>
<td>$1000.00</td>
<td>$66.0K</td>
<td style="text-align: right;">280</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$577.8</td>
<td>$565.3</td>
<td>$568.0</td>
<td>$400.00</td>
<td>$56.8K</td>
<td style="text-align: right;">19</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$435.2</td>
<td>$428.0</td>
<td>$428.0</td>
<td>$540.00</td>
<td>$42.8K</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>

<h3>About ServiceNow</h3>
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
Following our analysis of the options activities associated with ServiceNow, we pivot to a closer look at the company's own performance.
<h3>Current Position of ServiceNow</h3>
<ul>
<li>Currently trading with a volume of 517,501, the NOW's price is down by -0.02%, now at $919.06. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 33 days.</li>
</ul>
<h3>Expert Opinions on ServiceNow</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $900.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $900. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ServiceNow with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

ServiceNow Options Trading: A Deep Dive into Market Sentiment

Whales with a lot of money to spend have taken a noticeably bullish stance on Upstart Hldgs.
Looking at options history for Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) we detected 30 trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 43% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $230,526 and 26, calls, for a total amount of $2,463,790.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $65.0 for Upstart Hldgs during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Upstart Hldgs's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Upstart Hldgs's significant trades, within a strike price range of $25.0 to $65.0, over the past month.
<h3>Upstart Hldgs Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726849011_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UPST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$2.89</td>
<td>$2.87</td>
<td>$2.89</td>
<td>$40.00</td>
<td>$136.9K</td>
<td>2.1K</td>
<td>518</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$11.5</td>
<td>$11.3</td>
<td>$11.42</td>
<td>$40.00</td>
<td>$113.4K</td>
<td>4.5K</td>
<td>1.6K</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$11.35</td>
<td>$11.3</td>
<td>$11.3</td>
<td>$40.00</td>
<td>$113.2K</td>
<td>4.5K</td>
<td>1.8K</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$11.5</td>
<td>$11.3</td>
<td>$11.32</td>
<td>$40.00</td>
<td>$113.2K</td>
<td>4.5K</td>
<td>1.7K</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$11.65</td>
<td>$11.25</td>
<td>$11.32</td>
<td>$40.00</td>
<td>$113.1K</td>
<td>4.5K</td>
<td>1.4K</td>
</tr>
</tbody>
</table>

<h3>About Upstart Hldgs</h3>
Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit and small dollar loans.
After a thorough review of the options trading surrounding Upstart Hldgs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Upstart Hldgs</h3>
<ul>
<li>With a trading volume of 3,262,345, the price of UPST is down by -0.02%, reaching $39.99.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 46 days from now.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Upstart Hldgs with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

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Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF

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Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (ARCA:XRLV), Quote.Headers.trade-ideas