Performance Attribution Report — May 2026 (Net of Fees)
Period: 02 Feb 2026 to 29 May 2026
Performance Summary
| May 2026 | Since Inception |
|---|
| Fund Return (NAV) |
+2.70% |
+11.43% |
| S&P 500 Return |
+4.84% |
+8.65% |
| Active Return |
-2.14% |
+2.78% |
Portfolio – Avg Exposure & Entry Prices [2026-02-02 → 2026-05-29]
| Instrument | Mnemonic | Avg Entry Price (USD) | Avg Exposure (%) |
|---|
| Energy | SXLE.L | 36.88 | 8.9% |
| Materials | IUMS.L | 8.14 | 8.0% |
| Industrials | IUIS.L | 12.15 | 9.6% |
| ConsDiscretionary | SXLY.L | 34.34 | 2.7% |
| ConsStaples | SXLP.L | 38.79 | 11.0% |
| HealthCare | SXLV.L | 40.07 | 9.4% |
| Financials | SXLF.L | 48.93 | 12.8% |
| IT | SXLK.L | 106.39 | 13.1% |
| CommServices | SXLC.L | 25.35 | 3.5% |
| Utilities | SXLU.L | 45.64 | 14.1% |
| REITS | XRES.L | 18.89 | 6.8% |
| ETF sleeve (total) | | | 35.8% |
| MES Futures (RoRo) | MES | 6,885.81 | 44.8% |
| MES Futures Long/Short (signed) | MES | 6,885.81 | 37.3% |
| PULS (Cash_Carry) | PULS | 49.60 | 29.8% |
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