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Symphonies
Cautious Fund Surfing | SPY vs. TLT | 3x
Today’s Change
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A symphony is an automated trading strategy — Learn more about symphonies here

About

A daily strategy that usually hides in long-term Treasury bonds, but shifts part or all of the portfolio into a 3x S&P 500 fund when stock-market volatility is low and stocks look temporarily weak.
NutHow it works
This strategy splits money into 15 mini-strategies. Each day, each one first checks whether the US stock market has been calm or jumpy lately. If markets are too jumpy, it hides in long-term US government bonds (TLT). If markets are calm, it compares recent stock-market strength (SPY) with very short-term Treasury bonds (SHY). If stocks look weaker, it buys UPRO, a fund that aims for about 3x the S&P 500’s daily move; otherwise it stays in TLT.
CheckmarkValue prop
Out-of-sample, this strategy targets ~29% annualized return with ~1.04 Sharpe, beating the S&P’s ~21%. It uses levered equities and long bonds to capture upside and manage risk—note drawdowns can reach ~38% in stress.
1M
3M
6M
YTD
1Y
3Y
Max
www.composer.trade
Performance
Compared to selected benchmarks
AlphaBetaR2R
SPY
0.210.80.270.52
Performance Metrics
Cumulative ReturnAnnualized ReturnTrailing 1M ReturnTrailing 3M ReturnSharpe Ratio
SPY
1,039.41%15.11%-0.05%3.57%0.91
Cautious Fund Surfing | SPY vs. TLT | 3x
17,038.3%34.64%-0.15%3.96%1.27
Initial Investment
$10,000.00
Final Value
$1,713,829.67
Regulatory Fees
$3,684.24
Total Slippage
$29,376.67
Invest in this strategy
OOS Start Date
Apr 3, 2023
Trading Setting
Daily
Type
Stocks
Category
Tactical asset allocation, risk-on/risk-off, leveraged equity, treasury bonds, ensemble, daily rebalance
Tickers in this symphonyThis symphony trades 4 assets in total
Ticker
Type
SHY
iShares 1-3 Year Treasury Bond ETF
Stocks
SPY
State Street SPDR S&P 500 ETF Trust
Stocks
TLT
iShares 20+ Year Treasury Bond ETF
Stocks
UPRO
ProShares UltraPro S&P 500
Stocks

FAQ

A Composer symphony is an automated trading strategy that executes trades based on parameters of your choice. Some symphonies are similar to holding one ETF in normal conditions and rotating to a different ETF when market conditions shift, for example a 5% drop in the S&P 500, while others use complex rules with dozens of triggers. However, complex doesn’t always mean better. A simple, well-structured symphony can be just as effective as an intricate one. Learn more about how symphonies work here.

The symphony is currently performing the same as yesterday today. Performance updates in real time during market hours.

The symphony is currently allocated toTLTandUPRO. Holdings automatically adjust as market conditions change based on the strategy's rules.

Year-to-date, the symphony has returned 29.71%. You can adjust the performance chart above to view returns across different time horizons.

The maximum drawdown for the symphony is 38.18%. The maximum drawdown measures the largest peak-to-trough decline. It's an important metric to evaluate risk and the strategy's behavior during market stress.

To invest in the symphony, simply click the Invest button on this page. You'll need to open an account with Composer if you don't have one yet, then you can start investing. Composer will automatically execute the trades for you based on the strategy's rules. Composer also supports trading individual stocks, ETFs, and options.
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