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Quarterly Report: Q1 2026
Net Asset Value — USD denomination
All statistics are calculated using the Robuxio Systematic ETI strategy.
Benchmark: S&P 500 (SPY) and 60/40 balanced portfolio.
1. Performance in Q1 2026
The Robuxio Systematic ETI returned +6.8% in Q1 2026, compared to -4.4% for the S&P 500 and -2.6% for the 60/40 benchmark. NAV value. After fees.
2. Volatility
Annualized volatility in Q1: ETI 10.4%, S&P 500 14.3%, 60/40 9.3%.
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 × √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.
3. Rolling Correlation
30-day rolling correlation between ETI and benchmarks.
Average YTD correlation: ETI vs S&P 500 +0.66.
4. The Numbers
Key metrics across the ETI and benchmarks — Net Asset Value, USD denomination.
Q1 2026
| Strategy | Return | Max Drawdown | Volatility (ann.) |
|---|---|---|---|
| Robuxio Systematic ETI | +6.8% | -3.2% | 10.4% |
| S&P 500 | -4.4% | -8.9% | 14.3% |
| 60/40 Portfolio | -2.6% | -5.9% | 9.3% |
January 2018 to March 2026
| Strategy | Total Return | CAGR | Max Drawdown | Volatility (ann.) | Sharpe |
|---|---|---|---|---|---|
| Robuxio Systematic ETI | +803% | 30.6% | -8.2% | 12.5% | 2.20 |
| S&P 500 | +175% | 13.1% | -33.7% | 19.3% | 0.73 |
| 60/40 Portfolio | +101% | 8.8% | -21.7% | 12.1% | 0.76 |
NAV value. After fees.
5. Commentary
Q1 2026 was a challenging quarter for equity markets. The S&P 500 moved lower as escalating global trade tensions and broader macro uncertainty pressured sentiment.
Against this backdrop, the systematic design of the ETI strategy provided meaningful downside protection through its diversified sleeves. In particular, the Mean Reversion and Crisis Hedging sleeves helped stabilize the portfolio, allowing it to reach new all-time highs during the quarter.
Performance Overview
Robuxio Systematic ETI: +6.8% return | -3.2% maximum drawdown
S&P 500 (SPY): -4.4% return | -8.9% maximum drawdown
60/40 Portfolio: -2.6% return | -5.9% maximum drawdown
Beginning next month, we will publish reports on a monthly basis. The product is expected to open to investors during May 2026. 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.