Defined Risk

For investors, their biggest risk is the possibility of losing big and not having the money they need when they need it.


We seek to define risk, or limit the risk of loss, so investors may be better positioned to achieve long-term goals.


Our goals-based, hedged equity approach uses a distinct and proven hedging strategy to limit losses in a defined range on an annual basis, which creates a defined target range of returns.

Risk Redefined – Aligned with How Investors View Risk

The industry measures risk as volatility, or price swings up and down.

The industry’s conventional view is that investors are risk-averse, yet behavioral finance research shows investors are actually loss-averse.

So we measure risk as the amount of loss using drawdown or the Pain Index.

In this way, our approach to risk management is aligned with what concerns investors the most: losing big.

We believe a hedged equity strategy that seeks to “define,” or limit risk on an annual basis to avoid large losses is the best way to help long-term investors remain on track toward their goals.

A Redefined Approach is Necessary in a Redefined World