Two-bucket, momentum-based allocation: 50% EM bucket chooses between EEM and ACWI by 30-day momentum; 50% DM bucket chooses between IDEV and ACWI by 30-day momentum; no automatic rebalance.

- The portfolio is split into two groups: Emerging Markets and Developed Markets, each getting 50% of total cash. - In EM, compare 30-day cumulative return of EEM vs ACWI. If EEM > ACWI, invest the EM bucket in EEM; else invest in ACWI. - In DM, compare 30-day cumulative return of IDEV vs ACWI. If IDEV > ACWI, invest the DM bucket in IDEV; else invest in ACWI. - Within each bucket the code sets up equal cash between the two candidates, but you end up holding only the winner for that bucket (50% total per bucket). - No automatic rebalancing is performed unless the strategy is run again; overall exposure is the sum of the two buckets (with possible overlap if ACWI is chosen in both).

Out-of-sample edge: ~28.7% annualized return vs 16.4% for the S&P; Sharpe ~1.68 vs ~0.93; Calmar ~1.91; max drawdown ~15% vs ~18.8%. Modest beta (~0.72) with global EM/DM exposure and simple 30-day momentum; no auto rebalance.