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Monthly Report: April 2026
Net Asset Value — USD denomination
All statistics are calculated using Robuxio Equities (Robuxio EQ).
Benchmark: S&P 500 (SPY) and 60/40 balanced portfolio.
1. Performance in April 2026
Robuxio Equities returned +2.2% in April 2026, compared to +10.5% for the S&P 500 and +6.1% for the 60/40 benchmark. NAV value. After fees.
2. Performance YTD
Year to date, Robuxio Equities returned +9.2%, compared to +5.7% for the S&P 500 and +3.4% for the 60/40 benchmark. NAV value. After fees.
3. Volatility
Annualized volatility in April: Robuxio EQ 8.3%, S&P 500 11.7%, 60/40 8.0%.
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 × √252
Standard deviation is calculated using the population formula (dividing by N, not N-1). Annualization uses √252 to account for 252 trading days in traditional financial markets.
4. Rolling Correlation
30-day rolling correlation between Robuxio EQ and benchmarks.
Average YTD correlation: Robuxio EQ vs S&P 500 +0.67.
5. The Numbers
Key metrics across Robuxio EQ and benchmarks — Net Asset Value, USD denomination.
April 2026
| Strategy | Return | Max Drawdown | Volatility (ann.) |
|---|---|---|---|
| Robuxio Equities | +2.2% | -1.9% | 8.3% |
| S&P 500 | +10.5% | -0.8% | 11.7% |
| 60/40 Portfolio | +6.1% | -0.7% | 8.0% |
January 2018 to April 2026
| Strategy | Total Return | CAGR | Max Drawdown | Volatility (ann.) | Sharpe |
|---|---|---|---|---|---|
| Robuxio Equities | +824% | 30.6% | -8.2% | 12.5% | 2.20 |
| S&P 500 | +204% | 14.3% | -33.7% | 19.3% | 0.79 |
| 60/40 Portfolio | +113% | 9.5% | -21.7% | 12.1% | 0.81 |
NAV value. After fees.
6. April 2026 Monthly Review
The portfolio delivered a +2.2% net return in April, its third positive month out of four this year. Markets experienced a powerful equity rally, with the S&P 500 surging +10.5% — one of the strongest monthly gains in recent years. In this environment, the portfolio participated meaningfully in the upside while maintaining its characteristic stability: daily volatility remained at ~8% annualized versus 12% for equities, and the maximum intra-month drawdown was contained to just -1.9%.
All six strategy sleeves contributed positively during the month. Equity momentum led the way (33% of returns), followed by tactical allocation (19%), short-term tactical (16%), and equity mean reversion (21%). Crisis hedging and real assets trend also added value, demonstrating that the diversification across strategies is working as intended — the portfolio generates returns from multiple independent sources rather than relying on a single market direction.
Year-to-Date Performance
The YTD picture highlights the core strength of the portfolio's defensive, multi-strategy design:
| Metric | Portfolio | S&P 500 | 60/40 |
|---|---|---|---|
| Return (net) | +9.1% | +5.7% | +3.5% |
| Annualized volatility | 9.9% | 14.1% | 9.2% |
| Sharpe ratio (ann.) | 2.8 | 1.2 | 1.2 |
| Max drawdown | -3.2% | -8.9% | -5.9% |
| Calmar ratio | 9.6 | 2.1 | 1.8 |
| Positive months | 3 of 4 | 2 of 4 | 2 of 4 |
The portfolio has outperformed both benchmarks by a wide margin on a risk-adjusted basis. A Sharpe of 2.8 and Calmar of 9.6 reflect not just strong returns, but exceptional capital preservation — the deepest drawdown this year was just -3.2%, compared to nearly -9% for equities.
Capture ratios tell the story of the portfolio's asymmetry: YTD up capture of 52% paired with down capture of only 28%. In practical terms, the portfolio has captured roughly half of equity market gains on good days while experiencing less than a third of the losses on bad days. This favorable asymmetry is the hallmark of the strategy's defensive design.
Month-by-month, the portfolio's consistency stands out:
- January (+2.3%): Outperformed in a modest equity rally, with less than half the drawdown
- February (+4.8%): Best month of the year, gaining strongly while the S&P 500 declined -0.9% — demonstrating real diversification value
- March (-0.5%): The only negative month, but losses were minimal compared to the S&P 500's -4.9% decline — the portfolio preserved 90% of its YTD gains while equities gave back significantly
- April (+2.2%): Steady participation in the recovery rally at meaningfully lower risk
The worst single day for the portfolio this year was -1.1% (March 18), compared to -2.0% for the S&P 500 (January 20). The best day was +2.4% (February 6). This tight daily range reflects the consistency that comes from low average pairwise correlation (0.39) across strategy sleeves.
The largest drawdown episode occurred from mid-March through mid-April (-3.2%), coinciding with the broader market selloff. Critically, while equities fell nearly -8% peak-to-trough during this period, the portfolio contained losses to a third of that and recovered fully by mid-April.
For further information, please refer to the following resources:
Pavel Kycek
CEO & Co-Founder, Robuxio
Performance data prior to 2026 is based on backtested results and does not represent actual trading. Backtested performance is hypothetical and has inherent limitations. Past performance does not guarantee future results.
For informational purposes only. This is not investment advice or an offer to invest. Past performance is not indicative of future results. All investments involve risk, including possible loss of capital. Full product documentation and risk disclosures will be provided prior to launch.