1/N naive diversification
Smart AllocationMulti
DeMiguel: 1/N hard to beat empirically
Source: DeMiguel et al 2009
ALLW vol target 10-12%
All-WeatherDiversified
ALLW targets 10-12% annualized vol
Source: SSGA
AQR Risk Parity Fund
Risk ParityDiversified
AQR risk-parity fund product
Source: AQR
Adaptive Asset Allocation
TacticalMulti
Butler-Philbrick AAA: dynamic risk-parity + momentum
Source: ReSolve
All-Seasons Tyler variant
All-WeatherDiversified
Tyler Portfolio Charts version of All-Weather
Source: PortfolioCharts
All-Weather 4-box framework
All-WeatherDiversified
Stocks/credit (growth+) Treasuries (growth-) gold/commod (inflation+) IL bonds (inflation-)
Source: Bridgewater
Antonacci Dual Momentum
Trend OverlayTrend
Abs+rel momentum to switch global equity / bonds
Source: Antonacci 2014
Asset location overlay
Tax-AwareMulti
Tax-inefficient assets in IRA tax-efficient in taxable
Source: encyclopedia
Asset weighted vs risk weighted
Smart AllocationMulti
Risk-weighted produces different results than dollar-weighted
Source: encyclopedia
Black-Litterman model
Smart AllocationMulti
Combine equilibrium + investor views (BL 1992)
Source: Black-Litterman
Bond carry overlay
Carry OverlayLong
Long carry across global gov bonds
Source: encyclopedia
Box-spread synthetic loan
Cash MgmtLong
Box spreads for cheap synthetic Treasury exposure
Source: Boyer
Bridgewater AW launch 1996
All-WeatherDiversified
Originated for Dalio's family trust 1996; institutional 2000s
Source: Bridgewater
Bridgewater All Weather core
All-WeatherDiversified
Equal risk to growth-up/down + inflation-up/down environments
Source: Bridgewater
Brokered CDs
Cash MgmtLong
Brokered CDs for FDIC-insured cash
Source: encyclopedia
CVaR optimization
Smart AllocationMulti
Rockafellar-Uryasev CVaR-constrained optimization
Source: RU 2000
Canadian Pension model
EndowmentDiversified
CPPIB OTPP - active alts approach
Source: CPPIB
Cashflow matching
LDIMulti
Bond ladder matched to liability cashflows
Source: encyclopedia
Charitable bunching overlay
Tax-AwareMulti
DAF bunching for itemizing thresholds
Source: encyclopedia
Core-satellite portfolio
Sleeve MgmtMulti
80% passive core + 20% active satellites
Source: encyclopedia
Cross-asset multi-strat overlay
Multi-StratMulti
Mix equity LS macro CTA stat-arb credit
Source: encyclopedia
Cross-sectional momentum overlay
Trend OverlayL/S
Long top decile short bottom decile by momentum
Source: Jegadeesh-Titman
Daily vol-target rebalance
Vol TargetMulti
Adjust daily based on EWMA vol estimate
Source: encyclopedia
Dalio illustrative 30/55/15
All-WeatherDiversified
30% stocks 55% bonds 15% gold/commod (Dalio's public version)
Source: Tony Robbins
Direct indexing custom
Tax-AwareMulti
Hold individual stocks for TLH + customization
Source: Aperio Parametric
Drawdown stop per pod
Multi-StratMulti
Each PM has hard DD shutoff (typically 5-7%)
Source: encyclopedia
Duration matching
LDIMulti
Match asset duration to liability duration
Source: encyclopedia
Dynamic Asset Allocation DAA
TacticalMulti
Regime-based dynamic allocation
Source: encyclopedia
Endowment-style sleeves
Sleeve MgmtMulti
Public + private + alts + cash sleeves
Source: Swensen
Equal-weight vs cap-weight
Smart AllocationMulti
Equal-weight outperforms cap-weight historically (RSP)
Source: Invesco
Equity-only 60/40 critique
All-WeatherDiversified
90%+ of 60/40 risk comes from equity (Bridgewater)
Source: Prince
FX carry overlay
Carry OverlayLong
High-yield FX overlay on multi-asset portfolio
Source: encyclopedia
Family office multi-sleeve
Sleeve MgmtMulti
Liquid + private + tactical + impact + cash
Source: encyclopedia
Funds of funds FoF
Multi-StratMulti
Multi-manager fund allocation (faded post-2008)
Source: encyclopedia
GTAA Faber tactical asset alloc
Trend OverlayTrend
Faber 2007 GTAA: 5 assets 10mo SMA filter
Source: Faber
Glide-path target-date
LDILong
Target-date funds glide from equity to bonds
Source: Vanguard
Golden Butterfly portfolio
All-WeatherDiversified
Equal-weight TSM + small-cap value + LT bonds + ST bonds + gold
Source: Tyler
Harvard Endowment Model
EndowmentDiversified
Harvard Mgmt Co similar alts-heavy approach
Source: HMC
Hierarchical Equal Risk Contribution
Smart AllocationMulti
HERC: hierarchical extension of ERC
Source: Raffinot
Hierarchical Risk Parity HRP
Risk ParityDiversified
Lopez de Prado: tree-based risk parity using clustering
Source: LdP 2016
Invesco Balanced-Risk
Risk ParityDiversified
Invesco balanced-risk allocation fund
Source: Invesco
Liability-Driven Investing
LDIMulti
Match assets to pension liabilities
Source: encyclopedia
Long-only mean-variance
Smart AllocationLong
Constrained MV with no shorting
Source: encyclopedia
Long-short tax-efficient
Tax-AwareMulti
Quantitative L/S generates losses for TLH
Source: O'Shaughnessy
Macro factor exposure tilt
TacticalMulti
Tilt to growth/inflation/credit factor exposures
Source: encyclopedia
Marginal Contribution to Risk
Smart AllocationMulti
Decompose risk by MCR per asset
Source: encyclopedia
Maximum Diversification TOBAM
Smart AllocationMulti
Maximize diversification ratio (sigma/portfolio sigma)
Source: Choueifaty
Mean-Variance Markowitz
Smart AllocationMulti
Markowitz efficient frontier optimization
Source: Markowitz 1952
Min-corr min-vol overlays
TacticalMulti
Use rolling estimates of correlation/vol for weights
Source: encyclopedia
Min-variance MVP
Smart AllocationMulti
Markowitz lowest-variance frontier point
Source: Markowitz
Money-market funds
Cash MgmtLong
Government MMF for cash sleeve
Source: encyclopedia
Most diversified MDP
Smart AllocationMulti
Choueifaty most-diversified portfolio
Source: Choueifaty
Multi-asset carry KMPV
Carry OverlayLong
Long high-carry short low-carry across asset classes
Source: KMPV 2018
Multi-strategy hedge fund
Multi-StratMulti
Citadel/Millennium/P72 multi-strat platforms
Source: encyclopedia
Nested clustered optimization
Smart AllocationMulti
LdP NCO: cluster-then-optimize approach
Source: LdP
Norwegian SWF GPFG
EndowmentDiversified
Norway SWF: 70% equity 30% bonds + small alts
Source: NBIM
PIMCO All Asset All Authority
Risk ParityDiversified
PIMCO multi-strategy w/ Arnott PARC overlay
Source: PIMCO
Panagora Diversified Risk
Risk ParityDiversified
Panagora institutional risk parity
Source: Panagora
Permanent Portfolio 4x25
All-WeatherDiversified
Browne: 25% stocks 25% LT bonds 25% gold 25% cash
Source: Browne 1981
Pod-shop platform model
Multi-StratMulti
Allocate to many independent PMs with strict risk limits
Source: encyclopedia
RPAR ETF
Risk ParityDiversified
RPAR retail risk-parity ETF (Advanced Research)
Source: Advanced Research
Regime detection HMM allocation
TacticalMulti
Hidden Markov Model regime-conditional weights
Source: Ang-Bekaert
Resampled efficient frontier
Smart AllocationMulti
Michaud: Monte-Carlo resampled MV optimization
Source: Michaud
Reverse optimization views
TacticalMulti
Use BL to combine optimizer views with priors
Source: Black-Litterman
Reverse-Repo Facility
Cash MgmtLong
RRP for institutional cash management
Source: Fed
Risk budgeting
Smart AllocationMulti
Allocate risk budget rather than capital
Source: Bruder Roncalli
Risk parity ERC algorithm
Risk ParityDiversified
Equal Risk Contribution iterative solve
Source: Spinu
Risk parity Maillard equal-risk
Risk ParityDiversified
Each asset contributes 1/N of total portfolio risk
Source: Maillard et al 2010
Risk parity inverse-vol
Risk ParityDiversified
1/sigma weighting (approximation when uncorrelated)
Source: encyclopedia
Risk parity leverage critique
Risk ParityMulti
Leverage to reach equity-like returns - bond-yield-dependent
Source: Asness 2012
Risk-allocation across pods
Multi-StratMulti
Risk capital allocation rather than dollar capital
Source: encyclopedia
Risk-factor allocation Ang
EndowmentMulti
Allocate to factors (size value momentum etc) not assets
Source: Ang Goetzmann Schaefer
Robust optimization Tutuncu
Smart AllocationMulti
Robust MV with parameter uncertainty
Source: Tutuncu Koenig
SPDR Bridgewater ALLW ETF
All-WeatherDiversified
ALLW launched 2025 - first retail Bridgewater AW vehicle
Source: SSGA
Sector momentum overlay
Trend OverlayTrend
Rotate to top-N momentum sectors monthly
Source: encyclopedia
Sharpe-style trend overlay
Trend OverlayTrend
Apply trend with vol-targeting per asset
Source: encyclopedia
Strategic Asset Allocation SAA
TacticalMulti
Long-term policy weights rebalance to
Source: encyclopedia
Tactical Asset Allocation TAA
TacticalMulti
Active deviations from strategic allocation
Source: encyclopedia
Tax-loss harvesting overlay
Tax-AwareMulti
Direct indexing TLH overlay (Wealthfront Parametric)
Source: encyclopedia
Time-series momentum overlay
Trend OverlayTrend
12mo TS momentum signal across asset classes
Source: Moskowitz Ooi Pedersen
Tony Robbins All Weather
All-WeatherDiversified
Money Master Game: 30 long bonds 40% intermediate 15% gold 7.5% commod 7.5% stocks
Source: Robbins
Treasury bill ladder
Cash MgmtLong
Roll T-bill ladder for cash management
Source: encyclopedia
Trend + carry combined overlay
TacticalMulti
Combine trend and carry overlays for diversification
Source: AQR
Trend filter on equity allocation
Trend OverlayTrend
Faber 200-day MA shift to cash
Source: Faber 2007
Trend overlay on 60/40
Trend OverlayTrend
Add CTA-style trend to traditional portfolio
Source: encyclopedia
Tyler Pinwheel portfolio
All-WeatherDiversified
Pinwheel: large+small value/growth + LT/ST bonds + gold + REIT
Source: PortfolioCharts
UK gilt LDI 2022 crisis
LDIMulti
2022 LDI blowup case study from gilt selloff
Source: encyclopedia
UPAR ETF leveraged
Risk ParityDiversified
UPAR ~1.4x leveraged risk parity
Source: Advanced Research
Unified Managed Account UMA
Multi-StratMulti
Multiple sleeves in single account
Source: encyclopedia
Vol-control SPX index
Vol TargetMulti
S&P 500 VIX cap indices used in structured products
Source: S&P
Vol-target managed equity
Vol TargetMulti
Scale SPX exposure to 10% vol target
Source: Hocquard
Vol-target managed futures
Vol TargetMulti
Most CTAs use vol-targeting per asset
Source: Greyserman
Vol-target overlay portfolio
Vol TargetMulti
Scale gross exposure to keep portfolio vol constant
Source: encyclopedia
Vol-target with cap
Vol TargetMulti
Apply min/max bounds to vol-target leverage
Source: encyclopedia
Vol-targeted carry
Carry OverlayLong
Carry overlay with vol-target for sizing
Source: encyclopedia
Volatility cap on aggressive sleeve
Vol TargetMulti
Cap aggressive sleeve at fixed vol contribution
Source: encyclopedia
Volatility regime switching
TacticalMulti
Switch allocation when vol regime detected
Source: encyclopedia
Wealthfront Risk Parity Fund
Risk ParityDiversified
Wealthfront's risk-parity offering for retail
Source: Wealthfront
Weekly/monthly vol-target
Vol TargetMulti
Lower-frequency vol-target reduces costs
Source: encyclopedia
Yale Endowment Model
EndowmentDiversified
Swensen: heavy alts (PE VC RE absolute return)
Source: Swensen 2000
An encyclopedia of publicly documented strategies for education. YCAI does not recommend, endorse, or trade any of these. Not investment advice.