Q2 2026 geopolitical shocks sent commodities surging and tumbling. Active security selection proved critical as oil retreated, gold sold off, and steel surged to multi-year highs.

After a volatile Q1, fallen angels bounced back sharply in Q2 2026, outperforming broad high yield by 1.23%, as geopolitical de-escalation and tighter spreads drove strong returns.

As mega-cap tech pulled back in June, the Moat Index gained on semiconductor and cybersecurity strength and the SMID Moat Index rose on AI chips and a notable health care deal.

Nuclear energy is gaining momentum as a clean, reliable solution powered by innovation across mining, technology, and utilities.