LEAF So Far 2026

In this update we will update you on portfolio positioning and performance so far in 2026.

Target Weightings as of May 15, 2026

It has been a volatile year for the NASDAQ while LEAF has kept close to its highs. LEAF's drawdown was -6.5% compared to -12.2% for the NASDAQ. YTD LEAF is +7.6% vs +15.7% for the NASDAQ. This is to be expected to underperform in such a dramatic 6 month run for stocks. At this pace the model is annualizing at 21.9% in 2026. We are confident with the risk controls, with this return at a worse drawdown of -6.5%.

Drawdowns LEAF vs QQQ (NASDAQ 100 ETF)

Finally, here is each position's performance YTD. As usual we find a different stand out performer on the Risk Off side. Last year it was UGL Gold, this year CTA Managed Futures has been a tailwind at +16.9%. We are working on detailed attribution analysis for future updates. Thank you for your interest.