In investing, uncertainty is often cast as the villain. It unsettles markets, shakes confidence, and tempts us to retreat to the safety of cash. But this view misses a fundamental truth: uncertainty is not the enemy—it is the very condition that makes reward possible. 

As passive investing continues its surge in popularity, it would be natural to ask why anyone would pay more for active management. At PortfolioMetrix, we do pay more for active management, but we are very selective in only paying for proven skill, as well as being precise about when, where, and how much we invest in active management…

We're back with your latest quarterly and monthly updates. In this edition, we take a look at the key factors that shaped the investment landscape in Q2 2025, along with a quick wrap-up of June's market activity. As always, these insights are brought to you by our partners at PortfolioMetrix. We hope you find them relevant, informative, and worthwhile.