Simplest defensive, index-like approach
The simplest, most defensive option: broad index-like exposure with a protective overlay that de-risks in downturns. Trades less and stays close to the market, prioritising capital protection over outperformance.
Backtest: 9.3% CAGR, Sharpe 0.88, max drawdown −23.6%. It trades the least and is closest to the index — a defensive, low-effort core, not an alpha engine.
Hands-off investors who want a simple, defensive core holding.
US equities, ETFs