Biotech risk hedge that uses RSI/momentum and regime signals to move into inverse biotech BIS on biotech overextension, with mean‑reversion and volatility checks plus a defensive basket and bond tilt for non‑crash regimes; K‑1 friendly and non‑rebalancing by default.

- It watches biotech through XBI and biotech-linked ETFs (BIB, BIS) and uses simple momentum/risk indicators (RSI, cumulative returns, max drawdown, standard deviation). - If XBI looks extremely overbought (RSI over 5 days > 85), it shifts fully into BIS (inverse biotech) to protect against a crash. - If biotech dynamics show sharp recent moves (e.g., BIB’s one‑day gain is very large), it may also move into BIS under a “Huge volatility” rule. - If mean reversion signals appear (e.g., BIB is deeply oversold by RSI), the system explores alternative biotech/defensive moves, including safety baskets or bonds. - In calmer regimes, it builds a small safety basket from up to 3 defensive assets (like healthcare, utilities, consumer staples, gold, USD, etc.) selected by short‑term performance and risk metrics. - A separate pathway considers bonds (IEF, TLT, TMF, BND) to tilt toward safety depending on the regime assessed by the model. - The strategy runs with no automatic rebalancing (rebalance = none), so it uses the signals to pick weights and holds until another signal changes the regime. - “K-1 Free” indicates a tax‑reporting friendly wrapper, reducing K‑1 forms for investors. - In plain terms: it’s biotech‑focused protection that goes long/short biotech depending on signals, and otherwise parks cash/defense in a basket of defensive assets and bonds to weather risk.

Out-of-sample edge: ~39% annualized return and ~1.31 Sharpe vs SPY’s ~21%/1.29. Calmar ~1.02; biotech hedges and defensive tilts aim for higher risk-adjusted upside, with larger drawdowns in stress but quicker recoveries.