A month has passed. It's time to revisit the ETF Portfolio Strategy.
The current market environment is characterized by uncertainty. A war in Ukraine, higher commodity prices, high inflation and concerns about interest rates rising too much are current uncertainties.

How did the ETF Portfolio Strategy develop?
Here is a look at the relative performance chart of the last 50 trading days.

We see a slight outperformance of the strategy.
The MSCI World performed the worst in comparison.

The long-term chart shows the strategy consolidating at high levels.
There isn't much to say about it. We are satisfied!

The drawdown of the last few weeks has also turned out to be smaller than in the compared indices.

The ETF Portfolio Strategy has done well over the past few weeks. The drawdown was only -5.7%. In the area of ​​diversification, risk management contributed to the fact that the drawdown was only -5.7%. All benchmark indices had lower drawdowns.
We are satisfied with the slight outperformance in the current market environment.


The ETF Portfolio Strategy is an algorithm-based strategy which selects and weights positions according to fixed rules.
But we would like to make a small discretionary assessment at this point.
From our point of view, the current uncertainties on the market are justified with a time horizon of 1-2 years. The reason is that economic growth is probably not developing as well as it was assumed 2-3 months ago. The reasons are varied. The biggest problem are the planned rate hikes. In our Market Indicator section you will find charts showing the yield curve. We now have an inverse yield curve, which in the past has predicted a recession with an average lead time of 12 months. Up to this point, the stock markets have mostly developed positively. It remains to be seen how the economy will fare. We continue to expect a volatile environment.