Maximizing Risk-Adjusted Returns
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Estimate after-tax returns by applying capital-gains tax to each calendar year's net positive gains. Short-term and long-term tax shares come from each strategy's Tax Efficiency rating.
Nothing from this website or it's reports should be construed as investment advice, an offer, recommendation, or solicitation to buy or sell any investment. All investing involves risk, including the possible loss of money you invest, past performance does not guarantee future performance. The biggest drawdown a strategy will experience is still to come.
The investment strategies and their investment selections presented within this site and reporting are free for your personal use, noting the disclosure above. These strategies are not allowed to be used by any CFA, CFP, RIA, CPA, CLU, CHFC, IAFP, NAPFA, PFS or any other investment professional, please inquire for reasonable licensing rates.
I'm a finance and accounting person by education and trade, having worked everywhere from very large corporations to very small companies — doing financial reporting and accounting work, with some IT support mixed in along the way. I grew up in Tacoma, WA, and have lived in Phoenix, AZ since 2003. Blessed to have a great wife and kids.
Dual Momentum Systems is the personal project that grew out of a long-standing desire — as an ordinary investor myself — to capture most of the market's upside while avoiding the worst of its drawdowns. It really took flight when I discovered Gary Antonacci's Global Equities Momentum work, which sparked my interest and passion for creating tactical asset allocation models — this was the genesis of DMS.
Everything on this site — the strategies, the backtests, the tools — is free for personal use. Strategies deemed Premium will not show allocations until after the 10th of the month; you can uncover them during the first 10 days by subscribing. DMS was built to be the kind of resource I wish I'd had when I started thinking seriously about my own portfolio — and I use it all the time myself.
I hope you enjoy the site and become a frequent visitor, finding it a useful tool.
Dual Momentum Systems exists to make disciplined, momentum-based investing transparent and approachable — with an emphasis on avoiding prolonged downturns. Strategies are published with their actual out-of-sample performance alongside long backtests — nothing hidden, nothing cherry-picked.
The foundational principle behind all of it is the same: excellent risk-adjusted returns. Strong returns matter, but how those returns are earned — and how much risk it took to earn them — matters even more.
More detail on the mission, each individual strategy, and these concepts is being added here.
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Monthly dashboard PDFs for this strategy.
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Build a portfolio from one or more strategies, set the dollar amount, and see how many shares of each ETF to buy.
| ETF | Weight | Price | Target $ | Shares | Actual $ |
|---|
Shares shown to 2 decimal places (fractional). Prices from Yahoo Finance, updated when the page loaded.
Project how your savings grow over time, compounded at the selected strategy's historical CAGR.
Hypothetical projection. Past performance does not guarantee future results.
Project portfolio survival with an inflation-adjusted annual withdrawal. Uses the blended strategies' trailing 5-year CAGR, with a 60/40 reference for comparison.
Hypothetical projection at constant returns. Real returns vary year-to-year — sequence-of-returns risk means actual outcomes will differ. Past performance does not guarantee future results.
Estimate Required Minimum Distributions from a tax-deferred account (Traditional IRA, 401(k), 403(b), 457(b)) using the IRS Uniform Lifetime Table. Projects RMDs over time assuming your account grows at the blended strategies' trailing 5-year CAGR.
| Age | Start balance | Factor | RMD | % of balance |
|---|
Uses the IRS Uniform Lifetime Table (effective 2022, in force through 2026). This table applies to most account owners. If your sole beneficiary is a spouse more than 10 years younger, the Joint and Last Survivor Table applies instead (lower RMDs); inherited accounts use the Single Life Table. RMDs begin at age 73 (rising to 75 in 2033). This is a hypothetical estimate at a constant growth rate, not tax advice — consult a tax professional for your situation.
Best/worst per row highlighted. Hover any metric name for a description. All Metrics are computed from EOM returns.
Best value per row highlighted green, worst red. Withdrawal rates require ≥10 years of history. Past performance does not guarantee future results.
Upload a CSV of your own monthly returns to compare against DMS strategies. Your data stays in this browser session only — never uploaded anywhere, not shared with other users, and cleared when you close this tab.
Date,Return 2020-01-31,0.0234 2020-02-29,-0.0512 2020-03-31,0.0187 2020-04-30,0.0625 ...
YYYY-MM-DD, YYYY-MM, MM/DD/YYYY, or MM/YYYY0.0234) or percent (2.34 / 2.34%) — auto-detectedBlend any combination of strategies into a custom portfolio. It will appear in the strategy selector and all analysis views.
No custom portfolios yet.
Tiles above are computed from EOM returns. Current MTD and Current Day are live from Yahoo Finance.
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Avg Alloc = time-weighted average over period. Return Contribution = each ETF's share of total strategy return.
| Month | Strategy Return | Strategy Total | Benchmark Return | Benchmark Total |
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Strategy returns sourced from Tiingo. Equity values rebased to $10,000 at the start of the selected period.
Newest months at top. Current-month allocations for Premium strategies unlock for free users on the 11th. The What-If row projects next month's allocation as if the month ended today (Premium).
All Metrics are computed from EOM returns.
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Hi, I'm Randy Harris, the person behind Dual Momentum Systems.
Excellent risk-adjusted returns are the foundational principle at the core of every strategy here at DMS — whether the strategy is a high-conviction one seeking higher than market returns, or a more modest strategy.
DMS offers a collection of momentum-based investment strategies with out-of-sample results, backed by long backtest results for peace of mind. There are allocation strategies for a better investing experience than a 60/40 portfolio. If you are more aggressive but don't want to risk too much, there are strategies that deploy Smart Leverage: a way to opportunistically use leverage when the odds are most in your favor, for higher returns, not higher losses. And there is a tactical strategy which only invests in momentum stocks, unlike the others which use all ETFs.
Thank you for visiting the site, enjoy — feel free to reach out with any questions or comments.
Randy