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A. Stotz All Weather Strategies – January 2026

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The All Weather Strategy is available in Thailand through FINNOMENA. If you’re interested in our allocation strategy, you can also join the Become a Better Investor Community. Please note that this post is not investment advice and should not be seen as recommendations. Also, remember that backtested or past performance is not a reliable indicator of future performance.

What happened in world markets in January 2026

Performance of the World stock markets

  • NYSE was up, while Tech-heavy NASDAQ was almost flat
  • Japan had a great month
  • China A and Hong Kong had a great month, too
  • Europe had a good month, beating the US

Find the updated Performance of the World stock markets here.

US captures Venezuela’s Maduro

Double the US weight in the world index

US money supply grew US$1.7trn in 2025

Europeans own US$10trn of US stocks

China’s trade surplus grows

Xi accuses generals of corruption and treason

Gold price surpassed US$5,600/oz t

World Equity gained 5.0% in January

  • The strategy has a core target allocation of 20%
  • Rising commodities prices could signal a more optimistic growth outlook
  • Non-US markets were the best performers in January

Global Bonds was flat in January

  • The strategy has a core allocation to Global Bonds; the current target allocation is at 50%
  • Near-term inflation and rate outlook appear more stable, which was reflected in the flat performance

Commodities shot up in January

  • We had no target allocation to Commodities
  • January saw extreme volatility in many commodities

WTI oil closed January at US$65/bbl versus US$57/bbl in December

  • Rising US-Iran tensions drove up oil prices

Energy gained the most, followed by precious metals

  • Geopolitical uncertainty was a key driver of commodities in January

Gold gained 15.9% in January

  • We had a 10% target allocation to Gold
  • Gold closed the month at US$4,895/oz t, after hitting a record spot price of US$5,608/oz t
  • An unprecedented gold rally was experienced

All currencies weakened around 10% in January 2026

  • Typically, a stronger US$ means a lower Gold price in US$ and vice versa

Performance review: All Weather Inflation Guard

All Weather Inflation Guard gained 2.8%

Since inception, the strategy was up 21.8% and 11.0% above a 40/60 portfolio

  • The strategy has also experienced less volatility

In January 2026, the strategy was up 2.8%, which was 2.0% above the 40/60 portfolio

  • Our tilt to Gold drove the massive outperformance
  • The World Equity fund (TLA-GEQ) outperformed, too
  • TIPS outperformed Global Bonds

Since last revision, the strategy was up 3.2%, which was 2.1% above the 40/60 portfolio

  • Gold and World Equity drove outperformance
  • TIPS and Money Market did better than Global Bonds

The strategy added 2.0% value compared to a 40/60 portfolio in 2026YTD

  • The strategy beat a 40/60 portfolio by 0.4% in 2025

Performance review: All Weather Strategy

All Weather Strategy gained 8.1%

Since inception, the strategy was up 89.0% and 43.8% above a 60/40 portfolio

In January 2026, the strategy was up 8.1%, which was 7.0% above the 60/40 portfolio

  • Our 25% allocations to Gold and Emerging markets ex China outperformed significantly
  • World Equity (TLA-GEQ) outperformed
  • China did well, too
  • Our 15% US tilt dragged

Since last revision, the strategy was up 9.9%, which was 8.4% above the 60/40 portfolio

  • Our 25% allocations to Gold and Emerging markets ex China drove the massive outperformance
  • US dragged

The strategy has added 6.9% value compared to a 60/40 portfolio in 2026YTD

  • The strategy beat a 60/40 portfolio by 6.7% in 2025

Performance review: All Weather Alpha Focus

All Weather Alpha Focus gained 7.1%

Since inception, the strategy was up 31.8% and 22.7% above a 60/40 portfolio

And 5.4% above World Equity, but with a lot less volatility

In January 2026, the strategy was up 7.1%, which was 6.0% above the 60/40 portfolio

  • Our 22% tilt to Latin America outperformed massively
  • Our 20% tilt to Precious Metals Miners and 4% in Gold drove further outperformance
  • Out 22% tilt to Vietnam dragged

Since last revision, the strategy was up 7.9%, which was 6.4% above the 60/40 portfolio

  • Our 20% tilt to Precious Metals Miners and 4% in Gold were the biggest outperformers
  • Our 22% tilt to Latin America and outperforming World Equity fund (TLA-GEQ) helped further

The strategy has added 6.0% value compared to a 60/40 portfolio in 2026YTD

  • The strategy beat a 60/40 portfolio by 9.1% in 2025

DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.

Posted in All Weather Strategy