EDIT: Incorrect performance figures had crept in for YTD, CAGR over the last 365 days, and CAGR since inception. These have now been corrected downward.
Sorry...due to my vacation, the monthly report is only coming out now.
Hello everyone,
After the exceptionally strong months of April through June, the Momentum strategy suffered its first significant setback in July. The high concentration of both models in the memory and semiconductor sectors had a direct impact on performance due to the weak performance of the core positions.
📊 The hard facts
- Starting capital in July: €61,156.93
- Ending capital for July: €36,932.70
- Absolute loss: -€24,224.23
- Performance in July: -39.61%
- YTD performance: +47.91%
- CAGR over the last 365 days: +80.55%
- CAGR since inception (10/2023): +73.83%
📈 Performance of Individual Strategies
🇺🇸 US Momentum Leaders (Wikifolio)
- Monthly performance: -37.87%
- Change in value: -14,155.05 €
- YTD: +11.36%
Current Allocation for August:
- SanDisk (SNDK)
- Dell Technologies (DELL)
Change from the previous month:
- ❌ Micron Technology (MU)
- ✅ Dell Technologies (DELL)
🌍 Global 1200 Momentum Leaders (new as a wikifolio)
Mona
- tsperformance: -42.34%
- Change in value: -10,069.18 €
- YTD: +126.39%
Current Allocation (August):
- SanDisk (SNDK)
- Kioxia Holdings
Change from the previous month:
- No changes.
🔄 Rebalancing & Momentum Ranking
While the US Momentum Leadersmodel reacts to changing market conditions and replaces Micron with Dell, the allocation in the Global 1200 Momentum Leaders remains unchanged.
Conclusion
July saw a return of -39.61% the strategy’s sharpest decline to date and underscores that high returns are always accompanied by high volatility. However, following the exceptionally strong months that preceded it, such a correction is not an unusual occurrence within a concentrated momentum approach.
Despite the setback, the overall strategy’s return since the beginning of the year remains at +83.20%. The long-term metrics remain strong, with a CAGR of 124.58% over the last 365 days and 85.58% since its launch in October 2023 , at a very high level.
I hope that all investors are still on board and that those who were too frightened by the “shock” didn’t sell out.
A quick update: The Global 1200 Momentum Leaders strategy is now also tradable as a wikifolio certificate $19021982 (-0,36%) ISIN DE000LS9V4B9
📉 Drawdowns are temporary. The rules remain the same. The data is what matters.
