We’re often asked about how to build an unconstrained sleeve in a portfolio.

Our view is that your mileage will largely vary by where you are trying to go.  With that in mind, we focus on three objectives:

  • Sleeves that seek to hedge equity losses.
  • Sleeves that seek significant equity upside capture while reducing downside.
  • Sleeves that seek an absolute return profile.

We explore how these sleeves can be built using common strategies such as tactical equity, minimum volatility equity, managed futures, risk parity, global contrarian, alternative income, and traditional U.S. Treasuries.

You can find the full presentation below.


(If the above slideshow is not working, you can view an online version here or download a PDF version here.)


Corey is co-founder and Chief Investment Officer of Newfound Research, a quantitative asset manager offering a suite of separately managed accounts and mutual funds. At Newfound, Corey is responsible for portfolio management, investment research, strategy development, and communication of the firm's views to clients. Prior to offering asset management services, Newfound licensed research from the quantitative investment models developed by Corey. At peak, this research helped steer the tactical allocation decisions for upwards of $10bn. Corey holds a Master of Science in Computational Finance from Carnegie Mellon University and a Bachelor of Science in Computer Science, cum laude, from Cornell University. You can connect with Corey on LinkedIn or Twitter.