Global Navigator 300

Global Navigator is a disciplined dual momentum strategy. When Risk-On, it allocates between U.S. and International equities based on relative strength, selecting whichever exhibits superior momentum - U.S. large cap (IWB) at 100%, or a 50/50 split allocation between the unhedged and USD-hedged international equities (VXUS and DBEF), this splits the currency exposure rather than taking a view on the dollar. When neither is beating cash, the strategy is Risk-Off and steps out of equities entirely.

Risk-Off holdings are governed by the Treasury Duration Limiter, which decides not just when to play defense but what kind. The strategy holds long-duration Treasuries while long duration is still working, and steps down to short duration for the remainder of that defensive stretch once long-duration Treasuries are themselves losing money - the failure mode that hurt conventional defensive allocations in 2022. That duration call is made once per episode and held, not re-argued every month. Global Navigator is designed to capture global equity upside while actively avoiding prolonged downside market periods, and holds a single position in roughly two-thirds of all months. Global Navigator does not use any leverage.

Global Navigator 200 and Global Navigator 300 incorporate Smart Leverage, an opportunistic use of leverage in order to enhance gain with reasonable risk.