Seeking Consistency Through Market Cycles

With historically low yields, many institutions have steadily increased equity exposure, yet their return expectations for equities are diminishing.

Consistency of Returns – Sustainability of Impact

Return consistency through market cycles, by reducing the impacts of equity market drawdowns, is critical to funding the mission or meeting long-term obligations.


Our rules-based, hedged-equity approach has a proven track record of generating consistent long-term outcomes through cycles.

Seeking Consistency Through Market Cycles - 2022

Source: Zephyr StyleADVISOR and Swan Global Investments. All S&P 500 data based on the historical performance of the S&P Total Return Index. All historical performance of the Swan DRS Select Composite is net of fees. Prior performance is not a guarantee of future results.

The graph above shows an investment of $1,000,000 held over sixteen successive, 10-year investment periods. The first period is 1/1998 to 12/2007; the last period is 1/2013 to 12/2022. 

A Buy, Hold, and Hedge Approach to Consistency

By remaining always invested for growth and always hedged for protection, our Defined Risk Strategy (DRS) may serve institutional investors seeking consistent outcomes through full market cycles.