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Monthly Report: February 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 February
February closed positive. Crypto HV portfolio delivered +8% with a −3.09% max drawdown. Crypto LV portfolio returned +4.73% with a −1.63% max drawdown.
2. Performance YTD
YTD returns of Crypto HV portfolio are +10% with a −3.09% max drawdown. Crypto LV portfolio returned +6% with a −1.63% max drawdown.
Average YTD correlation: Crypto HV vs BTC -0.04, Crypto HV vs TOP50 -0.03.
3. Volatility
Annualized volatility in February: Crypto HV 23.2%, Crypto LV 12.8%, BTC 81.3%, TOP50 89.8%.
Annualized volatility YTD: Crypto HV 21.8%, Crypto LV 12.1%, BTC 63.3%, TOP50 79.3%.
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 portfolios throughout February 2026.
5. The Numbers
Key metrics across all strategies and benchmarks — GAV (Gross Asset Value), USD denomination.
February 2026
| Strategy | Return | Max Drawdown | Volatility (ann.) |
|---|---|---|---|
| Crypto HV | +8.0% | -3.1% | 23.2% |
| Crypto LV | +4.7% | -1.6% | 12.8% |
| Bitcoin | -15.1% | -20.3% | 81.3% |
| Binance TOP50 | -7.6% | -20.6% | 89.8% |
YTD — 1 January 2026 to 28 February 2026
| Strategy | YTD Return | CAGR | Max Drawdown | Volatility (ann.) |
|---|---|---|---|---|
| Crypto HV | 10% | 83.3% | -3.1% | 21.8% |
| Crypto LV | 6% | 45.2% | -1.6% | 12.1% |
| Bitcoin | -24% | -81.1% | -35.1% | 63.3% |
| Binance TOP50 | -29% | -88.1% | -45.4% | 79.3% |
Since Inception — 1 July 2024 to 28 February 2026
| Strategy | Total Return | CAGR | Max Drawdown | Volatility (ann.) |
|---|---|---|---|---|
| Crypto HV | +81% | 42.6% | -35.2% | 38.6% |
| Crypto LV | +45% | 25.2% | -19.5% | 18.6% |
| Bitcoin | +7% | 3.9% | -49.5% | 47.3% |
| Binance TOP50 | -83% | -64.9% | -90.2% | 86.8% |
6. Commentary
The beginning of February was characterized by elevated downside volatility. During this phase, the portfolios benefited primarily from the momentum sleeve, which captured directional moves effectively and generated strong positive performance.
From the second week onward, market conditions shifted to a predominantly range-bound environment. In this regime, the mean reversion component became more active and contributed materially to performance, pushing the equity curves to new year-to-date highs.
Performance Overview
Crypto HV Portfolio: +8.00% return | −3.09% maximum drawdown
Crypto LV Portfolio: +4.73% return | −1.63% maximum drawdown
Volatility across both portfolios remains relatively low. Capital exposure is dynamically adjusted based on prevailing market conditions. During less favorable environments, average exposure is automatically reduced, which naturally dampens portfolio volatility.
Overall, February demonstrated the robustness of the multi-strategy framework across differing market regimes, with momentum strategies capturing directional phases and mean reversion strategies stabilizing and compounding returns during consolidation periods.
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.