Performance Attribution Report — April 2026 (Net of Fees)
Period: 02 Feb 2026 to 30 Apr 2026
Performance Summary
| April 2026 | Since Inception |
|---|
| Fund Return (NAV) |
+7.95% |
+8.04% |
| S&P 500 Return |
+9.64% |
+3.33% |
| Active Return |
-1.68% |
+4.70% |
Portfolio – Avg Exposure & Entry Prices [2026-02-02 → 2026-04-30]
| Instrument | Mnemonic | Avg Entry Price (USD) | Avg Exposure (%) |
|---|
| Energy | SXLE.L | 34.10 | 10.6% |
| Materials | IUMS.L | 7.20 | 6.9% |
| Industrials | IUIS.L | 11.30 | 11.0% |
| ConsDiscretionary | SXLY.L | 23.47 | 1.6% |
| ConsStaples | SXLP.L | 36.15 | 10.9% |
| HealthCare | SXLV.L | 37.26 | 9.7% |
| Financials | SXLF.L | 45.57 | 12.3% |
| IT | SXLK.L | 95.98 | 14.0% |
| CommServices | SXLC.L | 17.50 | 2.0% |
| Utilities | SXLU.L | 41.67 | 13.8% |
| REITS | XRES.L | 17.04 | 7.2% |
| ETF sleeve (total) | | | 30.1% |
| MES Futures (RoRo) | MES | 6,744.52 | 32.7% |
| MES Futures Long/Short (signed) | MES | 6,744.52 | 23.0% |
| PULS (Cash_Carry) | PULS | 49.60 | 29.8% |
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