The Bmerin Dual Momentum strategy's performance from March to April 2025

The Bmerin Dual Momentum strategy's performance from March to April 2025 is summarized as follows:

• Portfolio Composition: The model held equal weights (16.87%) in six assets: Eli Lilly and Company (LLY), GE Aerospace (GE), Visa Inc. Class A (V), Johnson & Johnson (JNJ), Berkshire Hathaway Inc. (BRK.B), and Meta Platforms Inc. (META).

• March 2025 (03/01/2025 - 03/31/2025): The Dual Momentum return was -4.38%, underperforming the Vanguard 500 Index (-0.56%) by 3.82%. Individual asset returns were LLY: -10.29%, GE: -3.12%, V: 3.90%, JNJ: 0.50%, BRK.B: 3.86%, and META: -13.67%. The cost-adjusted return was -4.38%.

• April 2025 (04/01/2025 - 04/30/2025): The Dual Momentum return improved to -0.77%, slightly outperforming the Vanguard 500 Index (-0.84%) by 0.07%. Asset returns were LLY: 7.18%, GE: 0.17%, V: -2.55%, JNJ: -5.99%, BRK.B: 0.37%, and META: -3.80%. The cost-adjusted return was -0.78%.

• Overall Performance (03/01/2025 - 04/29/2025): The Dual Momentum model achieved a total return of -5.12%, compared to the Vanguard 500 Index's return of -6.44% over the same period. The Dual Momentum model's standard deviation was 8.86% (vs. 11.77% for the Vanguard 500 Index), with a maximum drawdown of -5.12% (vs. -6.44%). The Sharpe Ratio was -3.95, and the Sortino Ratio was -2.94.

In summary, the Dual Momentum strategy outperformed the Vanguard 500 Index over the two months, with a smaller decline (-5.12% vs. -6.44%) and lower volatility, despite a significant loss in March.