The fund began trading in March and holds about 90 North American securities with a strong focus on the industrial and basic materials sectors. Similar to EVX, PAVE’s returns appear to have a strong correlation with the recent hurricane activity. Over the past month ending September 25, PAVE’s return of 7.72 percent accelerated from the prior three-month return of 5.17 percent.
The Bottom Line
Natural and environmental disasters are unforeseen occurrences. Companies do not anticipate their arrival or regularly forecast their impact on business. But when a disaster strikes, several industries are there to pick up the pieces, aid in the search and recovery efforts, and lead the clean-up and rebuild. And in a year like 2017, it seems their services will be in high demand.