Nice little run and a great day (February 23, 2026). All defensive exposures are up.  LEAF is -0.25% vs QQQ -1.34%.

Drawdown comparison.  Outside of the tariff tantrum, LEAF captured very little of the NASDAQ's downside. 

There are sectors of the financial world that are currently wildly speculative and cause me concern. In my recent post on gold's advance in 2025, I expressed my thoughts on the factors contributing to the 60% rally. https://www.mortonir.com/post/gold-euphoria-speculation-or-a-store-of-value My concerns go further... Stablecoins (like Tether) also have significant elements of speculation. Tether is designed to track the U.S. dollar, but as a crypto token. Rather than living w

The intention of LEAF is to go down less in equity market corrections, and then rebound when markets rally.