Paired Switching
Monthly winner-take-all rotation between US equities and long Treasuries.
- Type: Tactical
- Frequency: monthly
- Asset classes: US Equity, Treasuries
- Backtest window: 2002-07-26 to 2026-06-11
- 1Y
- 7.8%
- 3Y
- 17.4%
- CAGR
- -3.6%
- Max DD
- -35.8%
- Sharpe
- -0.39
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 2026-06-10.