ONOF is designed to maintain exposure to the equity markets when the trending environment is positive, and then move to a risk-off position when that trend reverses.

ONOF incorporates moving average, convergence/ divergence (MACD), drawdown, and volatility as indicators to shift between equity and fixed income exposure – each receiving an equal vote in the strategy.

The strategy seeks to mitigate the extent of drawdowns while remaining invested in equities as much as possible.