Sera Capital Management

Financial Tales Portfolio

  • Strategy ETFs / Funds
Sera Capital Management’s Financial Tales Portfolio is designed for investors, not speculators. This global tactical strategy invests in a mix of Exchange-Traded Products (ETPs), and seeks to potentially outperform inflation by 5% a year over multiple market cycles. We attempt to achieve that goal while taking on about half the risk of the S&P 500.
We apply a disciplined, rule-based trading methodology to our global investment strategy. We attempt to keep the portfolio invested in what our research suggests are undervalued asset classes while maintaining diversification. We invest in both liquid Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs) and utilize technical signals including long-term moving averages and measures of momentum.
Our research uses overlapping neural networks and technical analysis to help us identify emerging asset classes, and ones that we believe have the strongest risk-adjusted return potential. Our neural networks also help us in our attempts to contain the risk of large losses.
We invest in liquid ETFs and ETNs, and typically have between 10 to 20 holdings. We at times may hold as few as 5 securities. Other than cash, no individual security is expected to make up more than 25% of the portfolio. Some holdings may be held for a period of several weeks, although we have other holdings that remain in the portfolio for 3 years or longer.
We typically look at asset class investments in pairs. A buy signal typically triggers a corresponding sell of another asset class. When an asset class becomes a sell without a corresponding buy, we go to cash. At our discretion, we also will sell asset classes that have performed above and beyond our expectations.



Month to date



Quarter to date



Year to date


Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 5.1%

    Best quarter

  • -5.2%

    Worst quarter

    • 1% fee
    • $10,000 min
  • Required: Margin account

Performance detail

Performance Portfolio inception July 15, 2013

as of February 17, 2017 Manager (net of fees ) S&P 500
Month-to-date 1.3% 3.2%
Quarter-to-date 3.3% 5.0%
Last 365 Days 7.6% 22.6%
Since inception (Annualized) 3.8% 9.7%
2017 (YTD) 3.3% 5.0%
2016 3.7% 9.5%
2015 -0.7% -0.7%
2014 3.5% 11.4%

Risk metrics Last 365 days

as of February 17, 2017 Manager (net of fees ) S&P 500
Volatility 6.9% 10.6%
Sharpe Ratio 1.03 2.08
Sortino Ratio 1.33 2.79
Maximum Drawdown -8.6% -5.6%
Value-at-risk (95%, 1 week) -1.6% -2.5%
vs. S&P 500
Information Ratio -1.55
Alpha 1.3%
Beta 0.30
R-Squared 0.21


  • Debt Fund
  • Equity Fund
  • Misc Funds

Top 5 securities

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Portfolio commentary

Latest transactions Average trades per month 2.8

Executed Symbol Security Type Price
January 24, 2017 IEF iShares 7-10 Year Treasury Bond ETF Buy $105.21
January 24, 2017 LQD iShares iBoxx $ Investment Grade Corporate Bond ETF Buy $117.68
January 24, 2017 SPLV PowerShares S&P 500 Low Volatility Portfolio Buy $41.60
January 24, 2017 DWIN PowerShares DWA Tactical Multi-Asset Income Portfolio Buy $27.82
January 24, 2017 GDX VanEck Vectors Gold Miners ETF Sell $24.07
January 03, 2017 EEM iShares MSCI Emerging Markets ETF Sell $35.60
December 13, 2016 VBR Vanguard Small-Cap Value ETF Buy $123.02
December 12, 2016 VNQ Vanguard REIT ETF Sell $83.42
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Important Information

  1. Past performance is no guarantee of future results.
  2. Performance of the Portfolio Manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retroactively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the asset-weighted daily average returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, and earnings distributions, and reflect the deduction of Covestor advisory fees, brokerage and other commissions and expenses actually paid by clients.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns displayed have been calculated by Covestor using daily benchmark prices and do not include dividend income. More information here. For certain portfolios Covestor uses an index as a benchmark, while for others it uses an investable exchange traded fund (ETF) as a benchmark. Index returns do not reflect the deduction of any management fees, transaction costs or expenses. Individuals cannot invest directly in an index. Investable ETF returns reflect the deduction of (i.e., are net of) management fees, transaction costs and expenses.
  7. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
  8. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history of Portfolio Managers is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  9. Not all transactions listed will appear in accounts due to Covestor's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.