Paired Switching
Monthly winner-take-all rotation between US equities and long Treasuries.
- Type: Tactical
- Frequency: monthly
- Asset classes: US Equity, Treasuries
- Backtest window: 2002-07-30 to 2026-11-10
- 1Y
- -0.3%
- 3Y
- 16.5%
- CAGR
- 4.6%
- Max DD
- -16.1%
- Sharpe
- 0.40
Methodology
- Compare 3-month returns for SPY and TLT.
- Hold the stronger asset, with ties going to SPY.
Source: Maewal, A. & Bock, J. R. (2011). Paired-Switching for Tactical Portfolio Allocation.
Headline backtest performance as of 2026-11-10.