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Symphonies
Exhibit 3 | ADAPTIVE ASSET ALLOCATION | 5C2
Today’s Change
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A symphony is an automated trading strategy — Learn more about symphonies here

About

Monthly rotation into the two strongest of US stocks (SPY), long Treasuries (TLT), gold (GLD), broad commodities (DBC), and the US dollar (UUP), using ~6‑month performance; equal-weight the winners until the next monthly rebalance.
NutHow it works
Once a month, look at five funds: US stocks (SPY), long-term US Treasury bonds (TLT), gold (GLD), broad commodities (DBC), and the US dollar (UUP). Rank them by their total return over roughly the last 6 months. Buy the top two, 50/50, and hold until next month. Repeat.
CheckmarkValue prop
Monthly two-asset rotation across five macro ETFs targets higher risk-adjusted returns than the S&P 500. Out-of-sample Sharpe ~1.86 vs ~1.32, drawdown ~10.4% vs ~18.8%, and annualized return ~21.23% vs 21.68%.

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Invest in this strategy
OOS Start Date
Oct 30, 2022
Trading Setting
Monthly
Type
Stocks
Category
Trend-following, momentum, tactical asset allocation, multi-asset rotation, defensive
Tickers in this symphonyThis symphony trades 5 assets in total
Ticker
Type
DBC
Invesco DB Commodity Index Tracking Fund
Stocks
GLD
SPDR Gold Trust, SPDR Gold Shares
Stocks
SPY
State Street SPDR S&P 500 ETF Trust
Stocks
TLT
iShares 20+ Year Treasury Bond ETF
Stocks
UUP
Invesco DB US Dollar Index Bullish Fund
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 toDBCandGLD. Holdings automatically adjust as market conditions change based on the strategy's rules.

Year-to-date, the symphony has returned 20.37%. You can adjust the performance chart above to view returns across different time horizons.

The maximum drawdown for the symphony is 10.35%. 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.