Managed Futures Ain't Easy

From Meb Faber; And for what its worth, plugging Meb's question into Copilot came up with a range of 15-25% and then zeroed in on 20%. The following are built using SPY for equities and an even split of QMHIX and DBMFsimulated for managed futures. Both are volatile, QMHIX is a full implementation and DBMF is a replication strategy. I tried to color code the backtest results but not sure how…