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Monthly Report: August 2026
GAV (Gross Asset Value) - USD denomination
All statistics are calculated using Binance Futures USDⓈ-M, Fee Tier 0, USDT collateral.
Results may vary depending on the exchange, fee tier, or collateral type used.
1. Performance in August
Crypto HV returned +5.3%, Crypto LV returned +2.6%, Bitcoin returned +25.0%, and the Binance TOP50 returned +1.0%.
2. Performance YTD
YTD returns: Crypto HV +11.2% with a -12.9% max drawdown; Crypto LV +7.0% with a -6.5% max drawdown.
Average YTD correlation: Crypto HV vs BTC -0.1, Crypto HV vs TOP50 +0.1.
3. Volatility
Annualized volatility in August: Crypto HV 23.7%, Crypto LV 12.5%, BTC 41.9%, TOP50 57.8%.
Annualized volatility YTD: Crypto HV 20.2%, Crypto LV 10.8%, BTC 46.5%, TOP50 61.1%.
How We Calculate Rolling Volatility
For each day t, we take the previous 30 daily returns:
ri = (Balancei - Balancei-1) / Balancei-1
Daily Vol = StdDev(r1, r2, ..., r30)
Annualized Vol = Daily Vol × √365
Standard deviation is calculated using the population formula (dividing by N, not N-1). Annualization uses √365 to account for 365 calendar days of crypto trading.
4. Net Exposure
Daily net exposure for Crypto HV and Crypto LV during August 2026.
5. Funding
Net funding contribution to Crypto HV and Crypto LV during August.
6. The Numbers
Key metrics across all strategies and benchmarks - GAV (Gross Asset Value), USD denomination.
August 2026
| Strategy | Return | Max Drawdown | Volatility (ann.) |
|---|---|---|---|
| Crypto HV | +5.3% | -5.7% | 23.7% |
| Crypto LV | +2.6% | -3.1% | 12.5% |
| Bitcoin | +25.0% | -3.2% | 41.9% |
| Binance TOP50 | +1.0% | -10.8% | 57.8% |
YTD - 1 January 2026 to 31 August 2026
| Strategy | YTD Return | CAGR | Max Drawdown | Volatility (ann.) |
|---|---|---|---|---|
| Crypto HV | +11.2% | 17.3% | -12.9% | 20.2% |
| Crypto LV | +7.0% | 10.7% | -6.5% | 10.8% |
| Bitcoin | -10.3% | -15.1% | -39.5% | 46.5% |
| Binance TOP50 | -45.3% | -59.6% | -56.5% | 61.1% |
Since Inception - 1 July 2024 to 31 August 2026
| Strategy | Total Return | CAGR | Max Drawdown | Volatility (ann.) |
|---|---|---|---|---|
| Crypto HV | +82.0% | 31.8% | -35.2% | 35.1% |
| Crypto LV | +46.3% | 19.2% | -19.5% | 17.1% |
| Bitcoin | +25.1% | 10.9% | -53.0% | 45.6% |
| Binance TOP50 | -87.7% | -62.0% | -92.6% | 80.2% |
7. Commentary
August ended positive for both portfolios.
Crypto HV returned +5.3% and Crypto LV returned +2.6%. Bitcoin rallied +25.0%, while the Binance TOP50 gained only +1.0%.
The Bitcoin rally brought back directional opportunities. The portfolios rotated from the defensive, near-flat positioning of the summer into net long exposure — average net exposure was +13% for Crypto HV and +7% for Crypto LV, after running slightly net short in July.
Realized volatility increased accordingly. Crypto HV traded at 23.7% annualized volatility and Crypto LV at 12.5%, up from the year-to-date lows of the previous month but still well below Bitcoin at 41.9% and the Binance TOP50 at 57.7%.
Drawdowns stayed contained: -5.7% intra-month for Crypto HV and -3.1% for Crypto LV, versus -10.8% for the Binance TOP50.
Year-to-date, Crypto HV is +11.2% with a -12.9% maximum drawdown. Crypto LV is +7.0% with a -6.5% maximum drawdown. Bitcoin is down -10.3%, while the Binance TOP50 is down -45.3%.
If the next leg higher is accompanied by broader participation across the universe, the return opportunity could improve materially from here. Stronger breadth and more persistent trends would allow the portfolios to deploy more risk into a significantly richer opportunity set.
As always, we do not bet on any specific market setup. The portfolios are broadly diversified across strategies and exposures, designed to adapt across different market regimes.
Pavel Kycek
CEO & Co-Founder, Robuxio
Data & factsheet
Latest CSV export and factsheet PDF.
All performance data shown as GAV (Gross Asset Value). Past performance does not guarantee future results.