Q3 so far has been a continued rally. The major US indices each advanced 2-3% for the month of July. Volatility has been low, which benefits the leveraged plans - all are in the green for Q3 and YTD. Today's post is just a balance update; no changes have been made to any of the portfolios since the last rebalance at the end of Q2 2025.

 

**HFEA**

* Current allocation has drifted to UPRO 57% / TMF 43%.
* At the end of Q3, will rebalance back to target allocation UPRO 55% / TMF 45%.

 

**9Sig**

* Current TQQQ price is $88.21/share. The 9% growth goal is for TQQQ to end Q3 @ $88.75 or better.
* Current TQQQ balance shortfall = $85. No action required until the end of the quarter. If any TQQQ shortfall remains at the end of Q3, it will be pulled from the AGG balance to buy TQQQ. 

 

**S&P 2x (SSO) 200-d Leverage Rotation Strategy**

* The underlying S&P 500 index ($6,339) remains above its 200-day SMA ($5,898). The full balance will remain invested in SSO until the S&P 500 closes below its 200-day MA. Once that cross happens, I will sell all SSO and buy BIL the following day, per the rotation strategy from [*Leverage for the Long Run*](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2741701).

 

[**← Previous post**](https://www.reddit.com/r/LETFs/comments/1lokyg7/update_q3_2025_gehrmans_longterm_test_of_3/)  

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Background 

*August 2025 update to my* [*original post*](https://www.reddit.com/r/LETFs/comments/1bivl9k/gehrmans_bumpy_ride_starting_my_realmoney_test_of/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) *from March 2024, where I started 3 different long-term leveraged strategies. Each portfolio began with a $10,000 initial balance and has been followed strictly. There have been no additional contributions, and all dividends were reinvested. To serve as the control group, a $10,000 buy-and-hold investment was made into an unleveraged S&P 500 Index Fund (FXAIX) at the same time. This project is not a simulation - all data since the beginning represents actual "live" investments with real money.*

Update Aug 2025: Gehrman's long-term test of 3 leveraged ETF strategies (HFEA, 9Sig, "Leverage for the Long Run")