Asset performances 05/26 (30.4.-30.5, according to Wikifolio)
2xWTI: -22.5%
3xGLD: -0.8%
3xQQQ: +28.6%
3xGTAA Depot (30.5., according to Getquin)
30.04.26: 146.940€
30.05.26: 144.555€
Wikifolio certificate (30.5., mid-price according to Wikifolio)
30.04.26: 228,50€
30.05.26: 225,80€
Month: -1.2%
YTD: +38.2%
Review 05/26
After a quiet April, May also remained without any notable movements. Oil and the Nasdaq100 almost balanced each other out: when one went up, the other went down and vice versa. A nice hedge in uncertain times.
Outlook 06/26
The Iran issue seems to be slowly dissolving. Stock markets are rising, gold and oil are continuing to recover. However, we should keep an eye on the rising yields at the long end due to inflation. They are draining liquidity from the capital markets and putting a prospective strain on them. This is accompanied by a significant shift in the portfolio.
As already indicated in recent reports, gold has now finally fallen below the SMA150 after almost 2.5 years and is leaving the portfolio. It will be replaced by the No. 3 asset class with the strongest momentum in the pool: Eurostoxx50.
The allocation for 6/26 is:
2xWTI
3xQQQ
3xEU50
This means that the portfolio is officially in risk-on mode in June.
Report from the 3xGTAA workshop
Lately the comment has been popping up here on Getquin, "I have 3xGTAA as a stability anchor." (@multibagger, you know who I mean!) At first glance, this seems strange given the leveraged nature and associated volatility of the strategy. For Auntie Else with a savings account and Riester contract, the statement is unlikely to apply. An MSCI World ETF saver could also have difficulties with it. After all, 3xGTAA fluctuates roughly as much in a day as MSCI World does in a week. Nevertheless, the statement could make sense.
The point is not so much the volatility of 3xGTAA, but the uncorrelated nature of that volatility to other asset classes. If someone has a portfolio that has some highly correlated assets, e.g. US memory chip stocks, then a certain amount of 3xGTAA can actually lower the overall volatility of the portfolio if the fluctuations are in opposite directions. "Stability anchor" is perhaps not quite the right word here, because an anchor hardly moves or does not move at all. In my opinion, the more appropriate term would be "counterweight". The asset structure of the rest of the portfolio is always decisive for whether a leveraged multi-asset momentum strategy fits into one's own portfolio and, if so, to what weighting. For Auntie Else, 3xGTAA remains a no-go.
Another issue: The "Trader is self-invested" status is displayed on the Wikifolio website. This only means something to a limited extent, as this requires a proven investment of €5,000. To make it clear that this is a bit more for me, I'll share a portfolio statement with the shares I hold.
May the momentum continue to be with you!
Your Epi
https://www.wikifolio.com/de/de/w/wf03x0gtaa
