<![CDATA[Prometheus Research: S&P 500 Program]]>

<![CDATA[Prometheus Research: S&P 500 Program]]>https://www.prometheus-macro.com/s/s-and-p-500-programhttps://substackcdn.com/image/fetch/$s_!qmcQ!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa02f9e91-4feb-4772-bfdd-6748b9519fa0_400x400.pngPrometheus Research: S&P 500 Programhttps://www.prometheus-macro.com/s/s-and-p-500-programSubstackWed, 08 Jul 2026 05:34:15 GMT<![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6aehttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6aeMon, 06 Jul 2026 17:52:23 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

Subscribe now

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

There are four major takeaways from these positions:

Beta Timing: With equity momentum slowing and equity indexes beginning to look stretched, our signals are once again pointing to modest reversal pressures at the index level.
Sector Selection: Across the equity sectors, our signals favor technology and industrials.
Risk Control: Our risk control continues to guide us effectively in managing drawdowns. In a multi-standard-deviation event across all our positions, our expected drawdown is 7%.
Bond Overlay: With oil markets now selling off materially, pressure on fixed-income markets has eased. While still not in their optimal zone for expected returns, fixed-income carry is now a reasonable risk for investors to consider in their portfolios, prompting our bond overlay to re-enter fixed-income exposures.

To this allocation, we add our Crisis Protection Program. The Prometheus Crisis Protection Program is allocated as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-dcdhttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-dcdMon, 29 Jun 2026 16:40:45 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-64dhttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-64dMon, 22 Jun 2026 17:15:13 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

Read more

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-3e5https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-3e5Mon, 15 Jun 2026 17:54:25 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-367https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-367Mon, 08 Jun 2026 17:56:19 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-ac4https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-ac4Mon, 01 Jun 2026 17:06:58 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6c9https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6c9Tue, 26 May 2026 17:29:19 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-c6ahttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-c6aMon, 18 May 2026 18:35:30 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-f12https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-f12Mon, 11 May 2026 17:36:26 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-d4chttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-d4cMon, 04 May 2026 17:42:12 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-2a2https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-2a2Mon, 27 Apr 2026 17:01:42 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

There are four major takeaways from these positions:

Beta Timing: Our beta timing measures continue to show downward pressure on equity indexes from locally expensive equities, which may have rallied too dramatically.
Sector Selection: Macro markets are experiencing a sustained inflation shock, which will change the distribution of sector returns. Across the equity sectors, our signals favor technology and industrials.
Risk Control: Our risk control continues to guide us effectively in managing drawdowns. In a multi-standard deviation event across all our positions, our expected drawdown is 8%.
Bond Overlay: While we face an ongoing inflation shock in market pricing, fundamental conditions are beginning to align more with a weakening growth backdrop. This weakness of growth, coupled with a modestly positive yield curve, makes treasuries and amenable exposure within a portfolio. This positioning is primarily about carry and diversification during a growth slowdown, rather than an outright alpha view.

To this allocation, we add our Crisis Protection Program. The Prometheus Crisis Protection Program is allocated as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6eahttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-6eaMon, 20 Apr 2026 17:29:03 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-crisis-program-1dbhttps://www.prometheus-macro.com/p/prometheus-s-and-p-crisis-program-1dbMon, 13 Apr 2026 17:35:06 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

Subscribe now

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. To today’s note, which we will publish in “positions-only” format.

]]><![CDATA[Prometheus S&P + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-crisis-programhttps://www.prometheus-macro.com/p/prometheus-s-and-p-crisis-programMon, 06 Apr 2026 18:49:07 GMTBefore we dive into today's note, we want to flag our latest milestone: 15,000 readers. Prometheus continues to grow and remains committed to bringing institutional-grade systematic investment strategies and research to everyday investors. To welcome you all, we’re offering a discount to new subscribers for the next year:

36% Off For New Annual Subscribers

The offer ends soon. See you on the other side.

The Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. To today’s note, which we will publish in “positions-only” format.

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-155https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-155Mon, 30 Mar 2026 16:54:35 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. To today’s note, which we will publish in “positions-only” format.

Today, the S&P 500 Program is positioned as follows:

There are four major takeaways from these positions:

Beta Timing: Our beta timing measures continue to show downward pressure on equity indexes coming from locally expensive equities, which are in a downtrend.
Sector Selection: Macro markets are experiencing a sustained inflation shock, which will change the distribution of sector returns. Within the cross-section of equity sectors, our signals have moved to favour energy and builders. This signal is in its early days and does run a modest risk of reversal.
Risk Control: Our risk control continues to guide us effectively in managing drawdowns. In a multi-standard deviation event across all our positions, our expected drawdown is 8%.
Bond Overlay: While we face an ongoing inflation shock in market pricing, fundamental conditions are beginning to align more with a weakening growth backdrop. This weakness of growth, coupled with a modestly positive yield curve, makes treasuries and amenable exposure within a portfolio. This positioning is primarily about carry and diversification during a growth slowdown, rather than an outright alpha view.

These portfolio levers, in aggregate, create an allocation mix with a modest sector-selection bias towards rising inflation and a macro bias towards falling growth.

To this allocation, we add our Crisis Protection Program.

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-1a9https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-1a9Mon, 23 Mar 2026 17:25:54 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. To today’s note, which we will publish in “positions-only” format.

Today, the S&P 500 Program is positioned as follows:

There are four major takeaways from these positions:

Beta Timing: Our beta timing measures continue to show downward pressure on equity indexes coming from locally expensive equities, which are in a downtrend.
Sector Selection: Macro markets are experiencing a sustained inflation shock, which will change the distribution of sector returns. Within the cross-section of equity sectors, our signals have moved to favour energy and builders. This signal is in its early days and does run a modest risk of reversal.
Risk Control: Our risk control continues to guide us effectively in managing drawdowns. In a multi-standard deviation event across all our positions, our expected drawdown is 8%.
Bond Overlay: While we face an ongoing inflation shock in market pricing, fundamental conditions are beginning to align more with a weakening growth backdrop. This weakness of growth, coupled with a modestly positive yield curve, makes treasuries and amenable exposure within a portfolio. This positioning is primarily about carry and diversification during a growth slowdown, rather than an outright alpha view.

These portfolio levers, in aggregate, create an allocation mix with a modest sector-selection bias towards rising inflation and a macro bias towards falling growth.

To this allocation, we add our Crisis Protection Program.

Read more

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-e71https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-e71Mon, 16 Mar 2026 16:47:02 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. To today’s note, which we will publish in “positions-only” format.

Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-a8dhttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-a8dMon, 09 Mar 2026 16:38:06 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

This week, we also offer an active overlay through our Energy Program. The Energy Program seeks to provide exposure to the energy complex using our short-term timing measures. The objective of the Energy Program is to provide dynamic exposure to energy that can complement equity and fixed-income portfolios.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. As we approach the one-year anniversary of the program, we continue to seek to add more signals and return streams to further improve long-term expected performance. Below, we share the simulated historical performance of our Integrated Program:

To today’s note. The team is hard at work on a variety of research projects; as such, we will publish in “positions-only” format. Today, the S&P 500 Program is positioned as follows:

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-c7ehttps://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-c7eMon, 02 Mar 2026 16:43:26 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. As we approach the one-year anniversary of the program, we continue to seek to add more signals and return streams to further improve long-term expected performance. Below, we share a sneak preview of the next generation of tools we have in development at Prometheus:

We look forward to sharing these new programs with you soon. To today’s note. The team is hard at work on a variety of research projects; as such, we will publish in “positions-only” format.

]]><![CDATA[Prometheus S&P 500 + Crisis Program]]>https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-671https://www.prometheus-macro.com/p/prometheus-s-and-p-500-crisis-program-671Mon, 23 Feb 2026 18:28:06 GMTThe Prometheus S&P 500 Program aims to outperform the S&P 500 over a full investment cycle. The program will strive to achieve this objective by leveraging a combination of Sector Selection, Beta Timing, Active Overlays, and Dynamic Risk Control. Our S&P 500 Program can be integrated with our Crisis Protection Program, which seeks to offer a portfolio diversifier during periods of economic and financial instability by blending active, long-only exposure to Gold, TIPS, and VIX.

For context, we visualize the live returns for our Integrated Program below:

Our programs are operating in line with their long-term expectations. As we approach the one-year anniversary of the program, we continue to seek to add more signals and return streams to further improve long-term expected performance. Below, we share a sneak preview of the next generation of tools we have in development at Prometheus:

We look forward to sharing these new programs with you soon. To today’s note.

]]>