FNDX 100 Checkpoint
FNDX 100 performance
FNDX 100 returned 73.7% annualised for its participants as of this writing.
It started with an NAV of 100 on 23 September 2022 and is currently at an NAV of 131.89 on 25 March 2023.
The strategy closely tracked and slightly outperformed the INDX 100 benchmark index.
These returns are notable because of the turbulence in the industry during that time: the collapses of FTX, Alameda, Genesis, BlockFi, Silicon Valley Bank, Signature Bank, and the de-pegging of the USDC stablecoin.
FNDX 100 had no exposure to any of these.
Design and Transparency
FNDX 100’s design optimised for resilience.
Notably, two days before the collapse of the FTX exchange, FNDX assured its participants it did not hold the FTT token, and explained why.
In the aftermath of the FTX collapse, the Wrapped Bitcoin (WBTC) token temporarily de-pegged from Bitcoin. FNDX published how it was affected, and how it navigated the crisis with minimal impact.
Finally when the USDC stablecoin lost its peg against the dollar in the wake of the Silicon Valley Bank collapse, FNDX proactively informed its Telegram community that it had no exposure to the stablecoin, which had part of its reserves in the bank:
Looking ahead
Through the downs and ups of the market in 2022, decentralised projects of all sizes and across all sectors continued to innovate; decentralised infrastructure remained broadly robust.
The numbers have proved once again the resilience of a diversified, broad-market strategy like FNDX 100.
The companion FNDX Fundamentals strategy is in many respects the opposite of FNDX !00 – concentrated, high-conviction, low-churn. Instead of betting on the crypto landscape as a whole, it has a clear strategy for identifying tokens that have a strong change of accruing value over the long term. We've made our FNDX Fundamentals thesis public.
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Featured photo by wen liu on Unsplash.