◆ The Charter · live custodian record vs the S&P 500

Does it beat the S&P 500 — with less of the downside?

One question, measured period by period on custodian-reported NAV against the S&P 500 total return. No other scorecard.

◆ Since inception · cumulative, custodian-reported NAV

The Charter StandardARMED · NOT MEASURING

The Charter Standard measures the full 80/20 + engine architecture against the S&P 500 total return. This account currently runs the engine sleeve only, so the gates are armed but not yet measuring. Measurement begins the day the account composition matches the published architecture — and that start date is published here.

Source: Interactive Brokers Flex Query · NAV as reported by custodian · benchmark: S&P 500 Total Return · last sync — · raw file sha256 —

The Charter Standard — two conditions, both binary, both custodian-fed: (1) cumulative time-weighted return above the S&P 500 total return, and (2) a shallower peak-to-trough drawdown than the S&P 500, each measured from inception on Interactive Brokers–reported NAV. Retire condition: if, measured over a full market cycle, the record satisfies neither condition, the charter is declared unmet on this dashboard and the outperform-with-less-drawdown claim is retired from every public surface. Gross of fees — net-of-fee figures will be published alongside when a fee schedule exists. Past performance does not guarantee future results. Educational only.

◆ Period

◆ Window

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Every period vs the S&P 500 total return

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Accumulating — the period-by-period record renders once the full architecture is measuring.

Upside captured · downside avoided

In up periods, how much of the S&P's gain did the strategy capture — and in down periods, how much of its loss did it take?

Accumulating — capture figures render as the record builds.

◆ Growth of 100 · strategy vs S&P 500 total return · peak-to-trough drawdown mirror · custodian-reported NAV

Record accumulating — chart renders at 5 trading days.

Where the return came from

The account's two sleeves, split by holding — the Intraday Engine (futures, options, non-SPY trades) and the Foundational (SPY) holding. Each shown as its contribution to the account's total return; the two add up to the whole.

Accumulating — the sleeve breakdown renders once the account is funded and reporting per-symbol P&L.