This live StockCharts shows all of the major averages (max 5). Default to post is 1 yr, but change timeframe to YTD and click Update. I could also post screenshot if there is some issue.
https://stockcharts.com/h-perf/ui?s=$INDU&compare=$COMPQ,$SPX,$TRAN,IWM&id=p93462951093

Thanks @Junkster.
Looks like I got at least 1 of the averages wrong when I posted last night. I’ll correct / update those as of what Bloomberg’s website is displaying as of around 12:30 today. That’s a very useful tool you linked. I’ve used it in the past. A bit clunky to use, but shows annual returns with the dividends reinvested.
“Recent declines in stocks and bonds have severely shaken the confidence of the bulls.”
One newsletter I subscribe to dropped a sizable S&P “short position” 3 or 4 weeks ago. Talk about unfortunate timing … :) Glad I don’t take such advice seriously!

I admit I am cynical about the goals of the CEOs of corporate America, but there are lots of small efforts that make a huge difference if focused. Look at "Judd at Popular Information"
Impressive results from Green Century.
Also interesting and impressive is "Engine No 1" a hedge fund that manages ETFs focused on "decarbonization" NETZ and influencing better practices among SP500 companies VOTE
They are the group that got three activists on the board of Exxon to force Exxon to deal with climate change, and are now working to stop methane leaks.

https://www.ytdreturn.com/on-s-p-500/
Above link is a handy reference showing *total return* for various indexes. S@P still ahead for the year by 4.36%. Russell 2000 and NASDAQ 100 still comfortably ahead. Dow barely positive. Recent declines in stocks and bonds have severely shaken the confidence of the bulls.

https://www.sec.gov/Archives/edgar/data/1683471/000089418923001244/morgancreekliftliquidation.htm
97 1 morgancreekliftliquidation.htm SUPPLEMENT RE FORTHCOMING LIQUIDATION
Filed pursuant to Rule 497(e)
Registration Nos. 333-215588; 811-23226
Morgan Creek - Exos Active SPAC Arbitrage ETF (CSH)
a series of Listed Funds Trust (the “Trust”)
Supplement dated February 21, 2023
to the Summary Prospectus, Prospectus and Statement of Additional Information
dated January 26, 2022
After careful consideration, and at the recommendation of Morgan Creek Capital Management, LLC, the investment adviser to the Morgan Creek - Exos Active SPAC Arbitrage ETF (the “Fund”), the Board of Trustees of Listed Funds Trust approved the closing and subsequent liquidation of the Fund pursuant to the terms of a Plan of Liquidation. Accordingly, the Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders of record on or about March 24, 2023 (the “Liquidation Date”). Shares of the Fund are listed on the NYSE Arca, Inc.
Beginning on or about February 22, 2023 and continuing through the Liquidation Date, the Fund will liquidate its portfolio assets. As a result, during this period, the Fund will increase its cash holdings and deviate from its investment objective, investment strategies, and investment policies as stated in the Fund’s Prospectus and SAI.
The Fund will no longer accept orders for new creation units after the close of business on the business day prior to the Liquidation Date, and trading in shares of the Fund will be halted prior to market open on the Liquidation Date. Prior to the Liquidation Date, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for the Fund’s shares during that time period. Customary brokerage charges may apply to such transactions.
If no action is taken by a Fund shareholder prior to the Liquidation Date, the Fund will distribute to such shareholder, on or promptly after the Liquidation Date, a liquidating cash distribution equal to the net asset value of the shareholder’s Fund shares as of the close of business on the Liquidation Date. This amount will include any accrued capital gains and dividends. Shareholders remaining in the Fund on the Liquidation Date will not be charged any transaction fees by the Fund. The liquidating cash distribution to shareholders will be treated as payment in exchange for their shares. The liquidation of your shares may be treated as a taxable event. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation.
Shareholders can call 1-855-857-2677 for additional information.
Please retain this Supplement with your Summary Prospectus,
Prospectus and Statement of Additional Information for reference.

After a nearly 700 point drop Tuesday, the Dow Jones Industrial Average ended in negative territory for 2023 at the close.
YTD Returns - As of 12:30 PM Wednesday, February 22
DJIA + 0.22%
S&P 500 + 4.24%
NASDAQ + 10.13%
(Numbers from Bloomberg)
One fund of recent interest here, ARKK, was ahead by more than 34% YTD going into today’s session. It fell back by more than 6% today. The fact that any fund could move like this one has over the past year might indicate how crazy the investing landscape has gotten. (Numbers from Bloomberg)
Just me or do geo-politics seem increasingly related to the market problems? Russia / Ukraine for sure. But now, just as China’s economy is emerging from its covid-related pullback, it appears relations with the U.S. are deteriorating. The balloon of course. But a lot more going on from my readings, including what appears to be China becoming more supportive of Russia’s invasion of Ukraine. If that’s not enough, North Korea fired off a barrage of its new solid fueled ICBMs over the weekend - one landing in the Pacific within sight of Japan. The solids are superior to liquid fueled rockets in that they’re easier to hide and can be launched without any prep on very short notice.
And you want to invest?

Bought mama GM bond... Many mutual funds etf have this bond. No recent bankruptcy... Only red flag - Was bailed out 2009. Good hedgie
CUSIP 37045xdd5
5.5% ytm
0.88
https://www.google.com/search?q=37045xdd5&client=ms-android-samsung-gs-rev1&sxsrf=AJOqlzW8t7qk7pVxLgfcm6xbI38MuOF7pA:1677013301945&ei=NTH1Y8GhOdG5qtsPpdC-wAk&oq=37045xdd5&gs_lcp=ChNtb2JpbGUtZ3dzLXdpei1zZXJwEAMyBAgjECcyBwgAEB4QogQyBQgAEKIEMgcIABAeEKIEMgcIABAeEKIEMgcIABAeEKIEOgcIIxCwAxAnOgoIABAeEKIEELADOggIABCiBBCwAzoFCCEQoAE6BQghEKsCSgQIQRgBUIUSWJAhYJwnaABwAHgAgAHFAYgBvA6SAQQwLjEzmAEAoAEByAEEwAEB&sclient=mobile-gws-wiz-serp

No winners except shorts
Did not buy spy puts today
Prob need to price in Uncle P 0.5% expect increased rate this month and market get ready for recession/poor WMT performance
Not sure if market and inflation remain sticky. We had a nice run up ast 6 7 wks so expect 7- 10% retracement but hopeful for smaller legs downturns (not reach spy 348.9 levels)

You are correct @Crash that there wasn't really any place to hide today. A bit odd ISTM. The Fed minutes (from the last meeting) come out tomorrow. I think either investors today were speculating that the minutes will be very “bearish” in tone or, possibly, a portion of them has been leaked in advance. The latter would, of course, be unheard of. As far as the “hit” to bonds today, I’m wondering if the recent flight into cash has played a part in “dinging” longer dated high quality bonds as people sell them in favor of cash? Eventually things tend to even out over time.
There weren’t many winners today, Some miners / materials sectors did OK - partially because increased warfare / participation of global powers in the Ukraine may further limit supplies of important resources. Funds that engage in options strategies to hedge risk may have done well on an individual basis. HSGFX gained more than 1%. RPIEX, which essentially “shorts” longer dated bonds, gained .71%.

Why not lock-up cash in a CD or T-Bill?
I adhere to an allocation model that’s served me well over time - albeit with occasional revision. The “target weighting” for all fixed income is 22%. That’s to be equally divided among diversified income funds, international bond funds, cash and / or AAA rated securities. So the nominal target for cash / AAA is just 7.33% of portfolio.
Because most risk assets have slumped over the past year I’ve gone slightly overweight into those areas of portfolio. So the allocation to all fixed income is currently just 19.4% ( 2.6% below target). The cash / AAA portion (about a third of that) sits at around 6% of portfolio. Might help explain my reluctance to lock-up that amount of cash for any length of time.
Where’s the rest of the $$? There’s a lot in various alternative funds. There’s a fair amount in a conservative allocation fund. Own a couple good consumers staples stocks. There’s a bit in precious metals and mining, real estate and infrastructure. I own a good balanced fund. There’s bit in Japan - and even less in EM. Spread the risk around. For better or worse …
Cheers!

@sma3 Green Century has a particular focus on environmental issues so they will have exposure to some other problematic companies in industries like pharma. There is no perfect solution here. That said, even when they own problematic companies, they often engage with them, including by filing their own shareholder resolutions to change the companies' policies, and supporting other activist campaigns: https://greencentury.com/impact/
Regarding the percentage of their profits that goes to non-profit environmental groups, my understanding is it is 100%, perhaps the most interesting fact of all: https://greencentury.com/about-us/

Support of Environmental and Public Health Nonprofits: One hundred percent (100%) of the profits earned managing the Green Century Funds belong to our non-profit owners who run critical environmental and public health campaigns.
The organizations which founded and own Green Century Capital Management Inc are: California Public Interest Research Group (CALPIRG), Citizen Lobby of New Jersey (NJPIRG), Colorado Public Interest Research Group (COPIRG), ConnPIRG Citizen Lobby, Fund for the Public Interest, Massachusetts Public Interest Research Group (MASSPIRG), MOPIRG Citizen Organization, PIRGIM Public Interest Lobby, and Washington State Public Interest Research Group (WASHPIRG).
We are one of the first fossil fuel free, diversified and environmentally responsible mutual funds.

Regarding investing in a different lower-cost fund and donating the difference to a charity, I doubt a different fund would do this: https://greencentury.com/wp-content/uploads/2022/10/NEW-SA-2-pager-season-higlights-9.30.22.pdf Engagement campaigns cost money. I agree the fees are high here, but I find some of their campaigns impressive, particularly the Apple one:

Apple* announced in November 2021 that it would provide individual consumersaccess to replacement parts, tools and repair manuals needed to perform common repairs to its products, marking a notable reversal for the company. Apple had vigorously lobbied against legislation that would require them to allow others to fix their products. The announcement came after discussions with Apple and on the same day that Green Century had to decide whether to press forward on a right-to-repair shareholder proposal. Apple launched the program in April.
McDonald’s* has been a target of Green Century’s shareholder advocacy in recent
years because of the fast-food giant’s reliance on unsustainable factory farming
practices. In 2022, Green Century’s President Leslie Samuelrich was nominated
to McDonald’s board of directors, and the U.S. Humane Society has credited the
McDonald’s board fight with helping pressure CVS* and Walgreens* to accelerate
their transitions to cage-free eggs and pushing General Mills* and Denny’s* to
move towards elimination of gestation crates in their pork supply chains.
Nearly 70% of Costco shareholders in January voted in favor of a Green Century
proposal requesting that the company set greenhouse gas emission targets.
Green Century’s proposal prompted Costco to announce an expedited timeline for
disclosing supply chain emissions, to commit to developing a Scope 3 action plan
and reduction targets, and to announce its first reduction targets for its operational
and purchased energy (Scope 1 and 2) emissions.

@MikeM,

2- It's not a given high quality bonds will move opposite equities as we saw last year. I might argue stocks and bonds may stay correlated through this year too. That again makes locked in rates of 5%'ish a nice safe balance to falling equities.

Just as the bulk of rate hike is behind us, there may be few more 25 bps hikes coming in March and May. Today both stocks and bonds are falling simultaneously and their asset correlation approach 1.0 similar to that of last year. Thus, bonds offer little protection to stocks in today’s environment.
Today, JUNK fell 2X that of BND and they truly track more of stocks than bonds. Likewise, I bought 6 and 12 mo T bills today as older ones matured. Who say cash is trash?

@LewisBraham
Thanks for tip on Green Century. Quick look shows they have about matched SP500 while avoiding fossil fuel etc. As 2% is ABBV and MRK 1.5% they are not too focused on inflated drug costs as a social issue.
Their fees are rather high. Do you know how much of their "profit" they have sent to the Public Interest Research Groups? Another idea would be to find a similar cheaper fund and donate the fee difference to pubic interest groups or environmental organizations.

The US does not have capitalism. What we live under is a "corporate socialistic welfare" where huge corporations get federal and state benefits of all kinds ( tax breaks, regulatory pass throughs, sweetheart laws etc) as long as they pay off the politicians with campaign contributions, do nothing lobbying jobs and secret stock deals. Federal bailouts are available if company policies prove incorrect and the company is failing.
As a prime example I give you ABBV who has played the patent system to control Humira for decades, making billions.
The only goals of most CEOs is to increase their salaries and perks and stay in the job as long as they can. The average CEO compensation has increased 1322% since 1978 and they make 350 times the average worker.
True capitalism would have forced Merrill Lynch, Citi etc to go bankrupt in 2008, and sent their CEOs to jail for fraud, and many companies would have shut their doors forever in the pandemic.
@baseballfan
A Democratic socialist system would have the State control these excesses, partly though ownership of essential industries and partly though effective regulation. We have none of that.
Can't wait to see how "free enterprise" handles the PFAS contamination of drinking water throughout the US. Anybody think 3M will go bankrupt and it's CEOs all go to jail?

Thanks @MikeM. Your take is much appreciated. Generally I’ve tried to add a bit when (10-year) rates approach 4% and sell a bit at under 3.5%. Explains the choice of an etf over a good mutual fund. That said - you may well be right … we dinosaurs are very slow in changing direction. :)
PS - I’m old enough to remember when money market funds yielded 15-20%.

Hi @hank. I guess I have an opposite view of this:

Still, I’d rather be in intermediate duration AAA fixed income than cash because (1) I don’t believe these high rates can persist and (2) high quality bonds should provide better protection in the event of a stock crash.

1- These high rates may not persist, but why not grab them while you can? I just picked up a 9 mo and a 12 mo treasury at ~5.1% today. So in that case that rate is locked in for at least those time frames. You'll make a little less moving out in duration but still can get 4.7 or 4.8 for a couple years anyway.
2- It's not a given high quality bonds will move opposite equities as we saw last year. I might argue stocks and bonds may stay correlated through this year too. That again makes locked in rates of 5%'ish a nice safe balance to falling equities.
Different view. No right or wrong.

To @msf's good list, I may add that within retirement accounts (401k, 403b, TSP, etc), Stable-Value (SV) Funds.
There are also Money Market ACCOUNTS by banks that are FDIC insured.

I maintain very little in cash. Some of my conservative allocation funds and diversified fixed income funds hold a certain amount - so I’ll let the managers work on that corner of investing.
Since I started using GNMA (etf) 3-6 months ago as a cash substitute it’s barely broken even. Not what I would have expected. But with the 10-year Treasury holding near 4%, that’s what happens. Still, I’d rather be in intermediate duration AAA fixed income than cash because (1) I don’t believe these high rates can persist and (2) high quality bonds should provide better protection in the event of a stock crash.
Not intended as advice. Indeed, am feeling more and more like a moss covered dinosaur in this era of cash-clamor.

At least on Schwab, Treasuries pay more than a CD up to 18 mos and they are easily liquidated without a penalty and are state tax exempt.
Two and three years CDs are 0.25 and 0.4 % ahead, but who knows what interest rates will be then.
I had a CD got bust in 1984 or 5. While I got my money back it took many months.

https://www.sec.gov/Archives/edgar/data/1707560/000162363223000304/fhidefisr6prsaisup455909edg.htm
497 1 fhidefisr6prsaisup455909edg.htm
Federated Hermes International Developed Equity Fund
A Portfolio of Federated Hermes Adviser Series
INSTITUTIONAL SHARES (TICKER HIEIX)
CLASS R6 SHARES (TICKER HIERX)
SUPPLEMENT TO SUMMARY PROSPECTUS, PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED JANUARY 31, 2023
On February 16, 2023, the Board of Trustees (the “Board”) of Federated Hermes Adviser Series approved a Plan of Liquidation for Federated Hermes International Developed Equity Fund (the “Fund”) pursuant to which the Fund will be liquidated on or about April 21, 2023 (the “Liquidation” or the “Liquidation Date”).
In approving the Liquidation, the Board determined that the liquidation of the Fund is in the best interests of the Fund and its shareholders. Accordingly, the Fund’s investment adviser will begin positioning the Fund for liquidation, which may cause the Fund to deviate from its stated investment objectives and strategies, including, but not limited to, the Fund’s policy to invest at least 80% of net assets (plus any borrowings for investment purposes) in equity securities of developed markets. It is anticipated that the Fund’s portfolio will be converted into cash on or prior to the Liquidation Date.
Effective on or about March 31, 2023, the Fund will be closed to new investors and closed to additional investments by existing shareholders. Any shares outstanding at the close of business on the Liquidation Date will be automatically redeemed. Such redemptions shall follow the procedures set forth in the Fund’s Plan of Liquidation.
Dividends and capital gains, if any, will be distributed to shareholders prior to the Liquidation.
At any time prior to the Liquidation Date, the shareholders of the Fund may redeem their shares of the Fund pursuant to the procedures set forth in the Fund’s Prospectus. Shareholders of the Fund’s Institutional Shares and Class R6 Shares may exchange shares of the Fund for shares of any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Prime Value Obligations Fund, and no-load Class A Shares and Class R Shares of any Fund if the shareholder meets the eligibility criteria and investment minimum for the Federated Hermes fund for which the shareholder is exchanging.
The Liquidation of the Fund will be a recognition event for tax purposes. In addition, any income or capital gains distributed to shareholders prior to the Liquidation Date or as part of the liquidation proceeds may also be subject to taxation. All investors should consult with their tax advisor regarding the tax consequences of this Liquidation.
February 21, 2023
 
Federated Hermes International Developed Equity Fund
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
Contact us at FederatedInvestors.com
or call 1-800-341-7400.
Federated Securities Corp., Distributor
Q455909 (2/23)
© 2023 Federated Hermes, Inc.