Strategies

Kaleidoscope AT (Active Tilt) Model | September 2026 review and October outlook

Kaleidoscope AT enters October fully invested, with a greater emphasis on digital themes following a difficult third quarter. The model selects among the same 26 thematic ETFs held by passive Kaleidoscope, increasing exposure to stronger themes and excluding weaker ones. Passive Kaleidoscope maintains preset weights and rebalances quarterly. AT adjusts

Kaleidoscope Thematic Model August Attribution Report: Capturing High Beta Outperformance

August demonstrated the model’s upside potential: a broad thematic portfolio can meaningfully outperform when its return drivers align. The longer record provides the equally important second lesson—successful implementation requires disciplined sizing, periodic rebalancing and a willingness to tolerate substantial performance dispersion.

Kaleidoscope Thematic Equity Model — July 2026 Attribution Report

July's AI-led correction cut the Kaleidoscope Model's year-to-date lead, but did not erase it. Semiconductors and robotics detracted while China internet, cloud, Bitcoin-linked exposure and natural resources helped. Strong dip-buying flows into SMH and AIQ signaled continued conviction despite volatility.

Kaleidoscope Thematic Equity Model — June and First Half 2026 Attribution Report

The Kaleidoscope Thematic Equity Model underperformed in June as thematic breadth narrowed, but first-half results remained ahead of SPY, led by semiconductors, AI, cybersecurity, grid infrastructure, and electrification despite weakness in crypto, China internet, fintech, and commodities themes during period.

Kaleidoscope Thematic Equity Model — May 2026 Monthly Attribution Report

Kaleidoscope Thematic Equity Model outperformed SPY in May as AI, cybersecurity, cloud, semiconductors and blockchain themes led. AIQ, CIBR, BKCH, SKYY and SMH drove attribution, while KWEB, GBTC, URA, NANR and ITB were the primary detractors during the month.

Kaleidoscope Thematic Equity Model

UPDATED MONTHLY AS OF 09/30/2026

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SMRF: ALPS Nautilus SMR, Nuclear & Technology ETF
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SMRF: ALPS Nautilus SMR, Nuclear & Technology ETF
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