Old vs. New
Sharpe Ratio
Volatility Target
Max. LeverageThe Old vs. New strategy aims to keep up with the fast paced growth of the US Technology Sector, while offering protection and stability from Gold.
To achieve its objective, the strategy dynamically allocates bewtween the assets, aiming to maintain stable risk contributions from each and achieving an overall constant portfolio volatility.
Real Time Strategy Performance1
Strategy Access
1 Delta
The most straightforward, 1:1 implementation of the Strategy in your portfolio.
FIA Replication
The index lends itself for upside participation due to its low volatility.
Note Replication
We do not recommend using this index in a structured notes type of payoff as it is a low volatility product.
Strategy Construction
Old vs. New is an intraday, risk-managed long strategy that pits a store of value from the "old" economy against the growth engine of the "new" one. It holds two liquid ETFs: GLD (physical gold, the timeless asset representing the past) and QQQ (the Nasdaq-100, representing technology and the future) and dynamically tilts between them based on their evolving risk and short-horizon momentum. The strategy evolves through discrete intraday events: a morning open (traded around 9:30am), a chain of intraday rebalancing checks every 10 minutes, and an end-of-day close used for mark-to-market and bookkeeping.
FAQFrequently Asked Questions
For general questions please consult this page.
Questions specific to this strategy are answered here;
if you have additional Questions please email us at pm@glrtec.com
What does the Old vs. New Strategy (GLRNDX1) do?
The Old vs. New Strategy (GLRNDX1) is a risk parity strategy that dynamically allocates capital between two thematic opposites: GLD (physical gold, representing the timeless "old" economy store of value) and QQQ (the Nasdaq-100, representing technology and the "new" economy growth engine). Rather than holding equal dollar amounts, the strategy employs equal risk contribution, each asset contributes equally to portfolio volatility, meaning the more volatile QQQ is held in smaller size than the more stable GLD. The strategy operates intraday, checking market conditions every 10 minutes and rebalancing when triggered by scheduled windows, significant weight drift, or emergency volatility breaches. It targets 10% annualized portfolio volatility and scales exposure up or down to maintain this target: cutting risk when markets become turbulent and increasing exposure when calm. With a hard 1.0x leverage cap (no leverage), the strategy prioritizes capital preservation while capturing the thematic tension between traditional stores of value and modern growth. Expected returns are estimated using dual-speed momentum tracking (fast and slow) combined via precision-weighting, while covariance is maintained through exponentially-weighted moving averages. The result is a disciplined, systematic approach that balances the defensive characteristics of gold with the growth potential of technology, all within a rigorous risk management framework.
What data does the Old vs. New strategy use?
How does the strategy handle rising versus falling volatility?
What happens during market stress?
How are the weights determined?
What triggers a trade?
Why does the Old vs. New strategy have only two assets?