Global long/short momentum framework. For USA, Europe, China, and Emerging Markets, it picks one ETF per region based on momentum and risk, with hedges if conditions fail. Uses cash-equal sizing, levered/inverse ETFs for exposure and protection, and no automatic rebalancing.

- The plan splits money into regional blocks: USA, Europe, China, Emerging Markets (and a global “Where in the world” layer). - For each region, it considers a small set of ETFs that proxy that region’s stock market (including leveraged and inverse variants) and sometimes bonds. - Within each region, it ranks the candidate ETFs by a momentum/risk screen (using metrics like relative strength index and drawdown) and selects the top candidate (one asset per region) if it passes defined thresholds. - If the region’s assets fail the momentum or risk tests, the system uses hedges (short or inverse ETFs) as a fallback rather than a straight long exposure. - The allocations are cash-equal within the regional groupings and then distributed according to the region blocks. Some blocks show 100/100 weight, others 60/100, indicating varying emphasis among regions at different layers of the hierarchy. - The root strategy has no automatic rebalancing (rebalance: none) but defines a narrow rebalance corridor (0.02), implying minimal automatic adjustments; changes would come from the rule-based selection rather than frequent rebalancing. - In practice, you end up with a global portfolio that tries to own the strongest region via one ETF per region, while hedging risk with short or inverse instruments when conditions weaken, all under a cash cushion. - Leveraged ETFs (e.g., SSO, SPXL) magnify exposure, inverse ETFs (e.g., SH, YXI) provide downside protection or bear bets, and bond ETFs (e.g., BND, SHY, BNDX, EBND) add ballast depending on the region’s rule path. - Overall, the strategy is designed to chase regional momentum while keeping downside risk in check through pre-set risk filters and hedging components.

Global multi-region momentum with hedges offers diversification and a cash cushion. Out-of-sample: ~17.9% annualized return, +0.047 alpha, Sharpe ~0.75, Calmar ~0.58—complementing the S&P with regime-aware risk control.