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Napier Tilt Portfolio

The Napier Tilt Portfolio is a long-term, designed to preserve and grow real wealth in an era of financial repression, inflation, and shifting global power. Inspired by Russell Napier’s macro philosophy, it favours tangible assets, cash-generative businesses, and undervalued markets over speculative growth and debt-dependent sectors.

Annual Rebalancing
EUR
Moderate Risk
1.5yr backtest

Performance Summary

Total Return+44.53%
Annualized Return+26.99%
Volatility+14.01%
Sharpe Ratio1.78
Max Drawdown+16.97%

Holdings

Asset Allocation

Asset Class

Equity 85.0%Precious Metals 10.0%Cryptocurrencies 5.0%
Holdings Details
A diversified ETF portfolio designed to preserve wealth via tangible assets, undervalued markets, and annual rebalancing for the long term.
AssetTypeAllocationTER
XDEV.XETRA
Xtrackers MSCI World Value UCITS ETF 1CIE00BL25JM42
ETF
25.0%0.25%
AVWS.XETRA
Avantis Global Small Cap Value UCITS ETF USD AccIE0003R87OG3
ETF
20.0%0.39%
5MVL.XETRA
iShares Edge MSCI EM Value Factor UCITS ETF USD (Acc)IE00BG0SKF03
ETF
10.0%0.4%
CBUX.XETRA
iShares Global Infrastructure UCITS ETF USD (Acc)IE000CK5G8J7
ETF
10.0%0.65%
XDW0.XETRA
Xtrackers MSCI World Energy UCITS ETF 1C 1CIE00BM67HM91
ETF
10.0%0.25%
WMIN.XETRA
VanEck S&P Global Mining UCITS ETF AIE00BDFBTQ78
ETF
10.0%0.5%
PPFB.XETRA
iShares Physical Gold ETCIE00B4ND3602
ETF
10.0%0.12%
BTIC.XETRA
Invesco Physical BitcoinXS2376095068
ETF
5.0%0.1%
Total100.0%0.34%

Performance

Portfolio Value Over Time
Starting with 10,000 investment → now worth €14,452.51
Histogram of Monthly Returns
The portfolio had a positive return during 14 of the 19 months (74%)
Monthly Returns Heatmap
Best month: +7.2% • Worst month: -4.6% • Best year: 2025 (+22.2%) • Worst year: 2024 (+3.8%)
YearJanFebMarAprMayJunJulAugSepOctNovDecTotal
2026+6.6%+6.7%-4.0%+4.3%--------+13.9%
2025+5.3%-1.3%-1.8%-4.6%+4.2%+0.3%+3.8%+2.7%+4.3%+3.7%+2.0%+2.2%+22.2%
2024---------+0.7%+7.2%-3.9%+3.8%
> +2%
0% to +2%
-2% to 0%
< -2%
Drawdown Analysis
Maximum drawdown: +16.97% • The longest drawdown period lasted for 5 months and was between February 2025 and August 2025. It reached a trough of -17.0%.

Detailed Metrics

Returns
Total Return
+44.53%
Annualized Return
+26.99%
Avg Monthly Return
+2.02%
Risk
Volatility (Annual)
+14.01%
Max Drawdown
+16.97%
Positive Months
74%
Average Drawdown
-2.9%
Risk-Adjusted
Sharpe Ratio
1.78
Risk-free rate: 2.0%
Sortino Ratio
1.64
Downside risk adjusted
Return/Volatility
1.93
Calmar Ratio
1.59
Return/Max Drawdown
Ulcer Index
3.65
Drawdown depth & duration
Martin Ratio
0.07
Return/Ulcer Index
Backtest Configuration
Initial Investment
10,000
Final Value
14,452.51
Backtest Period
2024-10-01 to 2026-04-17
1.5 years
Rebalancing
annual
Base Currency
EUR