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Symphonies
Recession Tester
Today’s Change
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A symphony is an automated trading strategy — Learn more about symphonies here

About

A simple switch using credit strength as a recession/risk gauge: if corporate bonds (LQD) beat T‑bills (BIL) over the last month, own U.S. stocks (SPY). If not, sit in T‑bills (BIL). Aims to avoid stock selloffs and join rallies.
NutHow it works
It checks the last 20 trading days. If high‑quality corporate bonds (LQD) earned more than ultra‑short U.S. Treasury bills (BIL), it buys the S&P 500 (SPY). Otherwise, it holds BIL. It flips 100% between SPY (risk‑on) and BIL (risk‑off).
CheckmarkValue prop
Out-of-sample Sharpe ~1.44 and Calmar ~0.88 with max drawdown ~17.6% (vs SPY ~18.8%), delivering better downside protection while still capturing upside when credit conditions improve. A simple risk-on/off switch driven by a credit signal.
1M
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YTD
1Y
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Max
www.composer.trade
Performance
Compared to selected benchmarks
AlphaBetaR2R
SPY
0.050.480.480.69
Performance Metrics
Cumulative ReturnAnnualized ReturnTrailing 1M ReturnTrailing 3M ReturnSharpe Ratio
SPY
541.25%10.61%1.2%6.23%0.61
Recession Tester
565.16%10.83%0.54%7.57%0.81
Initial Investment
$10,000.00
Final Value
$66,516.18
Regulatory Fees
$337.59
Total Slippage
$2,289.75
Invest in this strategy
OOS Start Date
Dec 20, 2022
Trading Setting
Threshold 10%
Type
Stocks
Category
Tactical allocation,risk-on/off,momentum,credit signal,us stocks,treasury bills,drawdown protection
Tickers in this symphonyThis symphony trades 0 assets in total
Ticker
Type

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.

"Recession Tester" is currently performing the same as yesterday today. Performance updates in real time during market hours.

"Recession Tester" is currently allocated toBIL. Holdings automatically adjust as market conditions change based on the strategy's rules.

Year-to-date, "Recession Tester" has returned 15.25%. You can adjust the performance chart above to view returns across different time horizons.

The maximum drawdown for "Recession Tester" is 17.60%. 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 "Recession Tester", 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, crypto, and options.