Stocks look strong coming off their August lows, especially in the semiconductor space, said Brad Thompson, CIO of Stadion Money Management.

"We had a nice run in the markets," said Thompson. "Whether or not that continues nobody really knows for sure, but we feel pretty good about the long term prospects for equities right now."

The Stadion Tactical Growth Fund (ETFOX) is up half a percent so far this year, according to fund-tracker Morningstar. Thompson said the goal of the fund, which is comprised of exchange traded funds, is to provide equity-like market returns with less volatility over the long term.

One of the fund's recent additions is the Market Vectors Semiconductor ETF (SMH) , which is up 1% thus far in 2015. Thompson said the semiconductor fund was added because it was picking up momentum in recent weeks and showed positive risk/reward characteristics according to the firm's ETF rankings.  "What we are looking to do is find adequate returns for the risk that you are taking, and so what we are looking to do is find adequate risk-adjusted returns, and right now, semiconductors look pretty attractive," said Thompson.

The fund also holds the iShares MSCI South Korea Capped ETF (EWY) , which is flat year-to-date. Thompson said South Korea places high in its rankings of 1,300 ETFs because of the country's large technology exposure. "South Korea is a technology-based economy, and those are the ones that are doing well," said Thompson. "Those that are commodity based are suffering in the currency trade war, so to speak."

Finally, Thompson's fund owns the PowerShares Financial Preferred ETF (PGF) which yields 5.8% and is up 2% so far this year. "Its goal in the portfolio is to provide that non-correlated diversification while at the same time adequately compensating us for the risk that we are taking," said Thompson.

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