C
Conservative
— Protect the compounding path
A lower-beta mandate built around income, quality equity and explicit crisis diversifiers.
DYNAMIC GROWTH BUDGET4%
Open mandate 01 →Systematic multi-asset ETF architecture
Three mandates.
One discipline.
A transparent portfolio engine that separates the long-term risk budget, the growth return engine, and the optional risk governor—so every investor can see exactly what creates return, what absorbs shocks, and what it costs to trade.
No leverage or negative cash All signals lagged Every sell and buy charged
ENGINERULES, NOT STORIES
LAYER 01Risk budget
LAYER 02Growth bucket
LAYER 03Risk governor
Research window10.1 yrs
18 Jul 2016–21 Aug 2026
Mandates3
Conservative · Moderate · Aggressive
Trading tariff10 / 20 bp
Charged on every dollar bought and sold
Leverage0×
Exposure is capped at 100%
Start with the investor job
Distinct mandates,
not one portfolio in three sizes.
The profiles are separated by strategic risk budgets and by the size of their Dynamic Growth Bucket—not by subjective market calls.
Conservative
M
Moderate
— Balance offense and resilience
A diversified equity-led mandate with a meaningful growth budget and retained crisis protection.
DYNAMIC GROWTH BUDGET20%
Open mandate 02 →A
Aggressive
— Pursue equity outperformance
The highest equity and growth budget, with diversifiers retained to keep drawdowns investable.
DYNAMIC GROWTH BUDGET33%
Open mandate 03 →The product architecture
Sophisticated inside.
Simple to explain.
Each layer has one job. That makes performance attribution, operating decisions and investor communication cleaner.
Risk-Budget Mandate
Quarterly targets define the long-term mix of equity, credit, real assets, crisis diversifiers and liquidity.
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Dynamic Growth Bucket
A fixed 4%, 20% or 33% budget. We test whether a compact QQQ-led structure can replace a crowded theme basket.
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Risk Governor
Soft and hard states move growth exposure toward SGOV when lagged trend and volatility conditions deteriorate.
What the evidence says now
Protection is real.
So is its price.
The existing stop mechanisms materially reduced volatility and drawdowns, but did not create free alpha. They traded much more and lagged fast recoveries.
Volatility reduction2.3–3.9 pp
Rule variants versus same-holdings controls
Drawdown improvement10.3–11.3 pp
Across the three profiles
CAGR sacrificed1.1–2.0 pp
Full-period annual return trade-off
Rule trading141–188%
Gross bought + sold each year
THE HONEST SELLING PROPOSITIONChoose the mandate for return.
Add the governor for sleep.
Add the governor for sleep.
The risk governor is shown as explicit drawdown insurance, including the premium: lower CAGR, more trading and the risk of missing a rebound. The completed tournament retained the slower Soft governor only for paper testing; the three-state and volatility-brake variants were rejected.
Evidence, not decoration
Every claim has its own page.
Use this site as a guided presentation or jump directly into the table, episode or cost question an investor asks.
Watch the governor
Animate COVID, 2022 and the April 2025 tariff shock. See the signal, trade, SGOV move, protection and rebound lag.
Open episodes →Audit every cost
Switch between 10 and 20 bp, size the AUM, inspect annual rollups and open the exact two-leg trade ledger.
Open cost lab →Read every return
Compare performance and underwater charts, then open monthly and annual return tables for every tested profile and rule.
Open research lab →