Combined Portfolio
ETF1, Hybrid Asset Allocation (HAA), and Mean Reversion each start with $10,000, for $30,000 total. Each strategy compounds independently; there is no rebalancing between strategies. The curves are rebased at the first shared observation and stop at the latest shared session. Each strategy includes 5 bps (0.05%) on buys and 5 bps on sells. The combined curve adds no further trading fee. HAA uses the exact-ETF series; Mean Reversion uses the production long-only 5-position, next-day market-on-open model. SPY and 60/40 start with the same $30,000. Sharpe uses daily returns, 252 sessions per year, and a zero risk-free rate. First and last calendar periods may be partial.
Backtest period: 2017-07-03 through 2026-08-31 · Starting equity: $30,000
Equity Curve
Equity and drawdown compared with SPY and 60/40 (60% SPY / 40% IEF), each starting at $30,000. Drawdown measures the decline from each portfolio's previous peak.
Monthly Returns
Jan–Dec show Combined Portfolio monthly returns. The last three columns show compounded returns for each year over the same available dates; the first and last years may be partial. 60/40 is 60% SPY / 40% IEF, rebalanced monthly, with 5-basis-point trading costs. Latest returns through 2026-08-31.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year Return | SPY Return | 60/40 Return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.4% | 5.7% | -6.2% | 7.1% | 2.3% | -1.5% | -3.3% | 8.4% | — | — | — | — | 21.7% | 13.1% | 7.3% |
| 2025 | 6.1% | -0.1% | -0.1% | 3.7% | 0.6% | 2.0% | 2.1% | 2.9% | 6.6% | -0.2% | 2.3% | 2.4% | 32.0% | 17.7% | 13.9% |
| 2024 | 2.5% | 5.4% | 4.5% | -2.1% | 5.5% | 1.2% | 2.9% | 8.0% | 3.6% | -1.1% | 3.0% | -6.9% | 28.8% | 24.9% | 14.1% |
| 2023 | 4.2% | -0.3% | 5.7% | 2.7% | -2.3% | 8.5% | 7.2% | -2.7% | -0.2% | 1.4% | 9.5% | 7.4% | 48.4% | 26.2% | 16.8% |
| 2022 | -5.9% | 2.0% | 6.1% | -1.8% | 2.6% | -0.9% | 0.1% | -0.9% | -4.0% | 12.8% | 4.3% | -0.9% | 12.9% | -18.2% | -16.7% |
| 2021 | 5.9% | 1.1% | 3.6% | 4.5% | -1.2% | 1.1% | 0.6% | 3.2% | -4.2% | 7.1% | -2.6% | 4.5% | 25.7% | 28.7% | 15.1% |
| 2020 | -1.9% | 0.6% | 3.6% | 2.0% | 2.5% | 2.5% | 8.1% | 4.3% | -3.0% | 1.2% | 13.4% | 3.3% | 42.1% | 18.3% | 16.0% |
| 2019 | 0.3% | -0.1% | 2.6% | 0.3% | -1.8% | 3.1% | 1.1% | 4.4% | -1.3% | 2.6% | 1.3% | 2.4% | 15.6% | 31.2% | 21.8% |
| 2018 | 4.7% | -1.6% | -1.0% | -0.1% | 2.7% | -0.7% | 1.8% | 2.2% | 0.2% | -3.6% | 0.3% | 0.3% | 5.0% | -4.6% | -2.0% |
| 2017 | — | — | — | — | — | — | 1.7% | 1.1% | 2.1% | 2.0% | 0.9% | 0.6% | 8.7% | 11.3% | 6.9% |