Abstract
- Over the second quarter of 2025, the Fund returned 4.78% (I– Shares, web) whereas the benchmark (S&P 500) returned 10.94%.
- Markets remained unstable however confirmed resilience when President Trump introduced a 90-day pause on countryspecific reciprocal tariffs on April ninth (excluding China).
- We proceed to consider that midstream firms provide probably the most compelling danger/reward profile throughout the vitality market.
gesrey/iStock by way of Getty Photos
Market Overview
Q2 2025 was dominated by U.S. commerce coverage developments and their world financial implications. On April 2nd, 2025, President Trump introduced sweeping tariffs which induced a big shift in danger sentiment and led to aggressive sell-offs in

Choose quarterly mutual fund commentaries.