Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD
Backtest results
Metrics
1Y · since Oct 2025Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD | |
|---|---|
| Total Return | -8.07% |
| CAGR | -8.14% |
| Sharpe | -0.20 |
| Calmar | -0.39 |
| Max DD | -20.92% |
| Volatility | 25.90% |
| Win Rate | 51.4% |
Last year of a hypothetical backtest, Oct 30, 2025 to Oct 30, 2026. Create an account to see the full history.
About this strategy
Dynamic and risk-aware, the strategy mainly holds leveraged Nasdaq (QLD) and short-term tech (QID) while favoring gold (GLD) when the pair with the lowest volatility dominates. It switches between the two risk-on assets or the risk-off gold based on which has the best 126-day cumulative return, protecting itself by rebalancing to the inverse-volatility pair that offers the lowest risk at each decision point.
Current allocation
What the rules select as of Oct 30, 2026.
Frequently asked questions
What is Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD?
Dynamic and risk-aware, the strategy mainly holds leveraged Nasdaq (QLD) and short-term tech (QID) while favoring gold (GLD) when the pair with the lowest volatility dominates. It switches between the two risk-on assets or the risk-off gold based on which has the best 126-day cumulative return, protecting itself by rebalancing to the inverse-volatility pair that offers the lowest risk at each decision point.
What is Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD holding today?
As of Oct 30, 2026, Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD allocates to QLD 50.2%, QID 49.8%.
How has Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD performed over the past year?
From Oct 30, 2025 to Oct 30, 2026, Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD returned -7.4% in a hypothetical backtest. Past performance does not guarantee future results.
What is the maximum drawdown of Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD?
From Oct 30, 2025 to Oct 30, 2026, the largest peak-to-trough decline of Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD in a hypothetical backtest was -20.9%.
How do I use Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD?
Open Exhibit 4 | Adaptive Asset Allocation | 3 choose 2 - QLD, QID, GLD in Quantly to rerun the backtest, adjust the rules, and paper trade it. You can also connect a supported brokerage to trade your version live.
Backtest results are hypothetical and do not guarantee future returns. Strategies are shared by Quantly users for research only and are not investment advice.