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NAMA

A greater weight in growth opportunities, with clear rules for managing market volatility.

Start with NAMACompare portfolios

Each portfolio is a standard model with predefined rules, not a portfolio tailored to you. You choose which model to follow; the portfolio subscription does not include a personalized suitability assessment. Review the portfolio risks and service terms before proceeding.

Historical metrics

Hypothetical backtest · 2015–2026

Compound annual growth rate
14.8%
Annualised portfolio growth over the backtest period.
Best year
36.4%
Worst year
−7.0%
Maximum drawdownFrom peak to trough
−13.7%
Annual volatility
9.5%

Hypothetical backtested results, not an actual trading record. Past performance does not guarantee future results, and future losses may exceed the drawdowns shown.

About the metrics
Compound annual growth rate
Annualised portfolio growth over the backtest period.
Maximum peak-to-trough drawdown
The largest decline from a previous portfolio high to a subsequent low during the backtest.
Annual volatility
A measure of the variation in daily returns, expressed on an annual basis.

March 2015 – September 2026

Performance comparison

NAMA compared with the SPY ETF, tracking the S&P 500 Index.

March 2015 – September 2026

Growth of a hypothetical USD 100,000 investment.
Date
NAMA
493,027USD
SPY ETF
437,012USD

Portfolio value in USD

0200k400k600k20152018202120242026

Time

Touch the chart or move the pointer to inspect values. Use the date slider or arrow keys to move through daily observations.

End-of-period value
NAMA
493,027USD
SPY ETF
437,012USD
View chart data
Growth of a hypothetical USD 100,000 investment. · 2026
DateNAMA (USD)SPY (USD)
463,700388,442
470,936391,026
472,928393,353
472,366392,086
471,116392,046
475,224394,636
475,325395,261
479,013394,470
478,395392,528
478,507393,599
478,103393,267
476,917385,262
477,431389,708
484,624391,743
489,939391,886
493,636393,874
499,913395,444
506,393395,404
507,389394,619
507,401393,444
487,874395,398
482,215392,058
490,140390,161
488,718385,284
480,256392,677
491,403394,568
495,484393,530
496,235393,439
489,151387,359
489,429387,634
489,676388,258
484,725390,213
490,358389,187
490,220392,000
495,765387,995
497,346390,820
497,091394,115
499,228391,926
495,555390,046
499,401390,264
492,342386,826
494,211389,554
490,899387,382
488,790382,305
488,646385,657
490,524385,038
492,152384,551
491,522378,712
484,650376,569
480,808380,402
484,469381,399
478,047376,082
467,302375,153
464,451369,772
459,283373,658
458,761372,403
458,716374,477
464,823367,790
454,301361,521
454,932360,312
454,614370,787
464,513373,577
467,902373,915
466,899375,680
466,840375,847
472,458385,422
475,984387,645
475,911387,387
475,092391,175
478,411395,937
482,612399,066
483,806400,046
484,394404,876
487,709404,068
487,351401,421
484,435405,490
487,297403,914
487,662407,043
487,611407,747
484,908405,765
483,998405,702
487,440409,736
487,696410,870
487,965409,363
485,213412,647
488,008418,383
492,932417,105
491,910420,549
494,974421,506
492,606420,864
495,838423,219
496,621426,560
491,006421,431
490,975421,133
491,000418,326
487,735422,618
490,965423,454
491,428425,116
491,352427,941
492,595427,867
490,590430,227
494,564431,299
494,466432,474
494,864433,058
492,293430,021
493,715431,649
493,806420,509
483,121421,460
484,111420,222
481,274413,598
473,107420,623
480,088422,898
480,334430,359
484,288427,792
484,636422,451
480,708426,847
479,581425,500
479,496419,323
476,319419,128
472,486419,735
473,993416,698
474,627423,563
476,568426,864
476,973426,285
477,238425,723
481,263429,442
481,079427,402
479,401426,079
481,753429,689
482,473431,540
482,536428,233
479,579429,758
481,594431,459
482,411429,121
479,059424,875
478,241424,188
477,848427,723
482,345427,230
477,816421,953
479,095422,383
478,002422,474
476,804423,483
474,646416,967
474,521423,958
479,447427,013
479,659433,093
482,371440,903
486,494440,021
490,606439,316
490,844442,003
494,640441,871
495,677440,462
495,861441,562
496,552444,645
496,478443,762
496,508441,665
496,896438,685
493,604439,602
497,971435,912
497,461437,694
500,904436,410
501,565437,803
501,766437,900
501,901440,771
503,615439,768
498,480438,456
495,856435,442
498,003437,373
502,136441,952
502,535440,250
500,318437,832
497,279435,797
497,665433,184
494,904436,880
495,940434,932
493,266432,932
496,324431,024
497,011435,912
497,730436,473
500,423443,241
500,568443,172
500,756439,980
497,518439,619
497,212442,009
498,505438,720
492,203437,912
493,027437,012

Hypothetical backtested results, not an actual trading record. Past performance does not guarantee future results, and future losses may exceed the drawdowns shown.

NAMA (SPY)

The figures in context

This portfolio, SPY and a reference at the same volatility.

Hypothetical backtest · SPY total return · USD

Scroll across to compare
The figures in context
MeasureNAMASPYSPY at this portfolio’s volatility
Return a year14.8%13.6%8.6%
Volatility9.5%17.6%9.5%
Largest fall−13.7%−33.7%−19.3%

SPY is a U.S. equity reference on a total-return basis. Its composition and risk differ from those of each portfolio. A year is 252 trading sessions. A dash means the figure was not supplied.

Full return and risk breakdownRecovery, market behaviour and the two research periods

Returns

Returns
MeasureNAMASPY
3 years, a year22.6%22.3%
5 years, a year14.3%13.2%
2026 to date5.6%12.7%
100,000 grew to493,027437,012
Best year36.4%—
Worst year−7.0%—

Risk & recovery

Risk & recovery
MeasureNAMASPY
Months to recover9.54.6
Longest time below a prior peak (months)15.423.3
Worst 12 months−8.3%−19.7%
12-month windows positive91%87%
36-month windows positive100%—
Positive months69%70%
Worst month−8.3%2026-03—

Relative to SPY & the tails

Relative to SPY & the tails
MeasureNAMASPY
Beta (monthly)0.531.00
Correlation (monthly)0.781.00
Upside capture67%100%
Downside capture44%100%
Tracking error9.5%—
Daily VaR (99%)−1.7%−3.2%
Daily expected shortfall (99%)−2.2%−4.6%

Two research periods

Two research periods
Annualised returnNAMASPY
Development period (9.8 years)14.0%12.9%
Out-of-sample period (1.7 years, read once)20.6%19.2%

Beta, correlation, captures and tracking error use monthly returns against SPY. Captures compare compounded, annualised returns in months when SPY rose or fell. The volatility-matched reference is the 3-month T-bill plus SPY’s excess return scaled by the ratio of the two volatilities, with no borrowing cost or fund fee. VaR and expected shortfall use historical daily returns.

Months to recover: from the trough of the largest fall to the first new high, in calendar months. The longest time below a prior peak is the longest run from a high to the next new high. The reserved period, at the end of the window, was read once and never re-run; 1.7 years is too short to prove or disprove anything on its own. The dates are on the Methodology page and in the public record.

NAMA

Risk scale

Based on historical volatility bands across the backtest window. This is a volatility measure, not a limit on possible losses.

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Lower volatilityHigher volatility

Monthly returns

Returns in %. The first and last months are partial months of the window; the year’s total is the published yearly figure.

Scroll across to compare
Monthly returns · NAMA
YearJanFebMarAprMayJunJulAugSepOctNovDecYear total
2015——−1.81.30.2−2.5−0.6−2.8−2.38.40.30.1−0.1%
2016−2.65.53.21.8−0.72.41.7−0.7−0.3−1.00.32.011.8%
20170.73.80.31.14.1−0.71.60.5−0.21.72.83.821.2%
20184.2−0.9−2.20.51.0−2.11.81.8−0.8−2.4−0.2−1.6−1.0%
20192.22.50.13.7−1.76.72.8−0.40.40.51.22.322.0%
20202.6−3.40.210.01.40.37.34.7−3.0−0.66.86.036.4%
20211.80.82.34.61.7−0.73.22.4−3.85.00.01.920.6%
2022−4.22.14.6−4.2−1.3−5.82.1−0.5−4.04.01.1−0.6−7.0%
20234.8−2.13.00.30.82.32.2−1.3−4.61.35.83.917.2%
20240.73.95.0−1.02.92.71.21.13.70.23.4−1.924.0%
20253.3−1.20.31.73.32.12.42.75.32.71.21.728.6%
20268.6−2.3−8.37.21.5−3.60.64.0−1.1———5.6%
Calculation and comparison methodology

Results include assumed trading costs and exclude taxes and financing costs.

The chart shows daily closing observations aligned to the comparison record's dates. Maximum drawdown is calculated from the daily record and may have occurred at different times for each series. SPY is a US equity reference and differs from the portfolio in composition and risk.

The worst annual return figure includes the partial period from March to December 2015.

How is NAMA built?

Three complementary strategies, weighted to reflect the portfolio's approach to growth and risk.

  • Multi-asset defensive strategy

    15%

    A diversified allocation that adapts to market trends.

  • Flexible allocation strategy

    40%

    A mix of growth opportunities and defensive components, with allocation adjusted according to defined rules.

  • Market volatility response strategy

    45%

    Adjusts investment exposure to market volatility, moving to cash-like exposure when defined conditions are met.

The weights refer to strategies; their holdings change according to their rules.

Risks at a glance.

A greater weight in growth opportunities involves accepting more volatility and deeper drawdowns than RUSHD and ITIZAN. Risk-adjustment rules help reduce exposure during declines, without guaranteeing that losses will be avoided.

The portfolio may include exposure to digital assets under defined conditions. Historical drawdown levels are not a ceiling on future losses.

Frequently asked questions.

Does the portfolio allocation stay fixed?

The displayed weights refer to strategies. Investments within them change according to defined rules, with risk exposure adjusted based on the portfolio's performance.

Why do we compare the portfolio with SPY?

To show performance alongside a familiar US equity reference and consider return and drawdown together. The portfolio differs from SPY in its composition and risk level.

Choose your portfolio and begin

Create your account, review your membership, then complete verification and broker approval.

Start with NAMACompare portfolios

Each portfolio is a standard model with predefined rules, not a portfolio tailored to you. You choose which model to follow; the portfolio subscription does not include a personalized suitability assessment. Review the portfolio risks and service terms before proceeding.