Moat Index gained 3.87%, lagging as underweight to tech hurt during a narrow rally.
Semiconductor holdings led performance, with NXP, Broadcom, and NVIDIA driving gains.
SMID Moat Index rose 6.18%, trailing small- and mid-cap benchmarks despite tech strength.
SMID Moat leaders included Marvell, NXP, and ON Semiconductor, supported by AI demand.
koto_feja/E+ via Getty Images
Tech and semiconductor stocks led April’s rebound. Moat stocks participated in the rally though narrow leadership favoring mega-cap growth weighed on relative performance.
Index performance is not illustrative of fund performance. It is not possible to
