Galahad trading system performance for December 2025
Below is the performance summary for Galahad for December 2025.
Galahad is a long-term, systematic, all-weather strategy aiming to outperform traditional buy-and-hold portfolios over full market cycles.
Evan’s live trading returns
Evan executes every signal produced by Galahad in his own accounts. These are net realized returns of his live trading accounts for this month and year-to-date.
| System | December | Year-to-date |
|---|---|---|
| Galahad System | -0.32% | +20.73% |
See Performance Disclosures: Monthly Performance. Evan uses Interactive Brokers as his primary broker and reporting agent.
Evan’s commentary on the year
Galahad closed out its second full year of live trading with a strong finish, outperforming the S&P 500 again and delivering on one of its core objectives: to beat the benchmark over full market cycles. While there will inevitably be years where we don’t clear that bar, early results reinforce that live trading is matching what our research and simulations suggested could be achievable.
The year itself was far from a straight-line uptrend. Equity markets had a mild panic into Q1 around tariff headlines before finding their footing mid-year, while defensive blends like the traditional 60/40 portfolio continued to lag. Galahad navigated that backdrop well, participated in the second-half strength, and managed risk through the weaker periods with comparatively shallow drawdowns.
Looking at the performance of the assets Galahad trades, gold was the standout contributor in 2025. Mid-year we made a strategy update to elevate gold to a higher core weighting when conditions are favorable, which proved beneficial as it continued to lead global assets higher into year-end.
On the other side of the spectrum, Bitcoin had an underwhelming year and ultimately finished negative as an asset class. Fortunately, Galahad did what it’s designed to do, manage exposure and adjust risk, so the drag from Bitcoin was modest and didn’t materially impact portfolio results.
We’re happy with how Galahad performed this year and appreciate everyone following along with the journey. We’re looking forward to another year of signals, research, and refining the strategy together.
Learn more and follow along
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