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A. Stotz All Weather Strategies – February 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 February 2026

Performance of the World stock markets

  • NYSE was up, but Tech-heavy NASDAQ fell
  • Japan saw strong gains
  • China was mixed, A-shares saw some gains, while Hong Kong fell
  • Europe had a strong month

Find the updated Performance of the World stock markets here.

Emerging market earnings estimates are rising the fastest

US$-hedged US bond yields are negative for global investors, led by Japan

The US bond market has been in the longest drawdown in history

Recently, bonds have provided weaker diversification benefits relative to US stocks

China’s UST holdings rose from zero in 2000 to US$1.3trn in 2013, now <US$700bn

China–Latin America trade surged to US$500bn, led by commodities & infrastructure

Korean market continues to hit all-time highs

World Equity gained 3.5% in February

  • The strategy had a core global allocation of 20%, which outperformed
  • Many non-US markets continued strongly
  • US was the main drag on the overall index

Global Bonds gained 0.9% in February

  • The strategy has a core allocation to Global Bonds; the current target allocation is at 50%
  • Bonds had a good month as investors looked for safety following the poor performance of the US and AI stocks

Commodities continued up in February

  • We had no target allocation to Commodities

WTI oil closed February at US$65.1/bbl versus US$64.5/bbl in January

  • Rising US-Iran tensions drove up oil prices

Precious metals drove commodities

  • Geopolitical concerns were the main driver of commodities

Gold gained 0.8% in February

  • We had a 10% target allocation to Gold
  • Gold closed the month at US$5,279/oz t
  • Investors looked for safe-haven assets, which drove up the price

Gold outperforms every major currency across all horizons and rose >6% in Feb 2026

  • Gold can be seen as a currency
  • The change in gold price in different currencies shows whether those currencies are strengthening or weakening

Performance review: All Weather Inflation Guard

All Weather Inflation Guard gained 1.1%

Since inception, the strategy was up 23.1% and 11.3% above a 40/60 portfolio

  • The strategy has also experienced less volatility

In February 2026, the strategy was up 1.1%, which was 0.1% above the 40/60 portfolio

  • The World Equity fund (TLA-GEQ) outperformed significantly due to its Alpha tilts
  • Global Bonds had a good month, while Info. Tech. dragged

Since last revision, the strategy was up 4.4%, which was 2.4% above the 40/60 portfolio

  • Gold and the World Equity fund (TLA-GEQ) drove outperformance
  • TIPS did better than Global Bonds
  • Info. Tech. dragged on performance

The strategy added 2.2% 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 3.2%

Since inception, the strategy was up 95.0% and 48.4% above a 60/40 portfolio

In February 2026, the strategy was up 3.2%, which was 2.2% above the 60/40 portfolio

  • Our 25% allocations to APAC ex JP, CN, and Emerging markets ex China outperformed significantly
  • World Equity (TLA-GEQ) outperformed, too
  • Our tilts to Gold and US dragged on performance

Since last revision, the strategy was up 13.4%, which was 10.9% above the 60/40 portfolio

  • Our 25% allocations to Gold, Emerging markets ex China, and APAC ex JP, CN drove the massive outperformance
  • World Equity (TLA-GEQ) contributed, too
  • US dragged

The strategy has added 9.4% 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 6.4%

Since inception, the strategy was up 40.3% and 30.1% above a 60/40 portfolio

And 12.7% above World Equity, but with a lot less volatility

In February 2026, the strategy was up 6.4%, which was 5.4% above the 60/40 portfolio

  • Our 20% tilt to Precious Metals Miners outperformed massively
  • Our 22% tilt to Latin America did great, too
  • World Equity (TLA-GEQ) outperformed
  • While our 22% tilt to Vietnam dragged

Since last revision, the strategy was up 14.8%, which was 12.3% 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 the outperforming World Equity fund (TLA-GEQ) drove further outperformance

The strategy has added 11.9% 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