AI concerns lower software valuations; value sectors and Virtus ETF show mixed returns.

Concerns about AI disruption have led to lower valuations in the software industry and some financial institutions, while value sectors like energy, materials, utilities, consumer staples, industrials, and real estate saw gains. The Virtus Terranova U.S. Quality Momentum ETF returned -4.82% at NAV, slightly underperforming the S&P 500 Index's -4.77% return. Sector allocation helped the ETF's relative performance, with top contributors including Vertiv Holdings, Micron Technology, Applied Materials, Baker Hughes, and Lam Research. The ETF follows an index that selects stocks based on positive momentum and fundamental quality, maintaining a diversified portfolio of 125 U.S. companies.