Structure IS the Strategy
Structure creates the foundation for better outcomes through global allocation, broad diversification and maximum portfolio efficiency.
Structure IS the Strategy
Structure mazimizes client net returns by optimizing market capture with low-cost exposures and keeping portfolio costs and frictions to a minimum.
Structure IS the Strategy
Structuring a portfolio with low-cost passive market exposures eliminates the self-inflicted harm of expensive and unreliable active management.
Structure IS the Strategy
Structure maximizes durability, consistency and reliability of market capture while minimizing destructive behavioral impulses.
Structure IS the Strategy
The methodical application of a rules-based equity hedge delivers structural ALPHA by enhancing portfolio returns and efficiency while mitigating risk, minimizing drawdowns and adding an additional, inversely correlated (volatility) portfolio factor.

The structurALPHA® Strategies

Strategies with a structural advantage


U.S. Large Cap (Buy-Write)

a U.S. large cap equity buy-write portfolio

 

The structurALPHA® US Large Cap strategy is a long exposure in the S&P 500 hedged with a short, one-month, at-the-money call option on the underlying exposure. The short call option is rolled each month at expiration to the next month, at-the-money striking price. The long index exposure and short option hedge are maintained at all times regardless of market action or volatility environment, with no tactical adjustments. Known as a buy-write or covered call, it is the most basic hedged strategy.

 

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Global Hedged Equity

a global, multiple equity market buy-write portfolio

 

The structurALPHA® Global Hedged strategy is a globally diversified and hedged Managed ETF portfolio consisting of our separate, single-market, hedged strategies. Underlying long positions are whole-market ETFs, hedged by short one-month at-the-money call options. The short hedges are rolled at or just prior expiration to the next month. The underlying long index exposures and the short option hedges are maintained at all times, regardless of market action or volatility environment, with no tactical adjustments. Re-balancing the underlying equity exposures to policy weights is strategic and valuation based.

 

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Global Hedged PLUS

a globally allocated, broadly diversified, balanced and hedged portfolio

 

The structurALPHA® Global Hedged PLUS strategy is a globally diversified and hedged managed ETF portfolio consisting of our separate, single-market, hedged-equity strategies, PLUS a diverse global allocation to traditional long-only exposures for additional risk management and market participation, with a strong emphasis on valuation discipline. Underlying long positions are whole-market ETFs, and approximately half (by weight) of the global equity portfolio holdings are hedged by short one-month at-the-money call options. The short hedges are rolled at or before expiration to the next month. The underlying long index exposures and the short option hedges are maintained at all times, regardless of market action or volatility environment, with no tactical adjustments. Re-balancing of all underlying exposures to policy weights is strategic.

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