Protocol Summary
Public metadata only
| Asset pool | CNETF multi-asset sleeve; detailed holdings are not published. |
|---|---|
| Cost assumption | Cost20 is the primary historical convention; Cost40 is retained as a stricter sensitivity. |
| Benchmark | Source-defined matched anchor; benchmark is context, not a claim that every economic asset must be beaten. |
| Minimum evidence | 252 genuinely new governed trading days, reviewed in four 63-day blocks. |
Summary metrics, protocol boundaries, and hash commitments are inspectable.
A digest supports later verification without releasing private artifacts.
No fresh row has yet completed a governed forward-observation block.
Cumulative NAV / Cumulative Return
The public observer does not release a daily path before governed fresh observations are available.
Publishing a synthetic curve would overstate the evidence. The observer remains at 0 / 252 genuinely new governed days.
Relative Return vs Benchmarks
Exposed-history comparison against the matched anchor.
Drawdown
Risk comparison from the frozen historical path.
Latest Daily Return
Daily forward observations are withheld until governed rows exist.
The current forward ledger contains zero genuinely new governed rows.
Block Progress
Current 63-trading-day validation block progress.
Current Metrics
Historical values are descriptive and must not be read as statistically reliable fresh performance.
| Measure | DDR1-RRA2 | Matched anchor |
|---|---|---|
| Cost20 annual return | 8.61% | 8.29% |
| Cost20 Sharpe | 1.106 | 1.044 |
| Cost20 max drawdown | -7.77% | -8.13% |
| Cost20 CVaR95 loss | 1.06% | 1.08% |
| Positive outer folds | 3 / 4 | n/a |
| Historical 1% ADV capacity estimate | CNY 6.88m | n/a |
Daily NAV Records
Public daily NAV rows are not released for this low-disclosure observer.
Benchmark Records
The source-defined matched anchor is retained for context.
| Benchmark | Cost20 annual return | Sharpe | Max drawdown |
|---|---|---|---|
| Matched anchor | 8.29% | 1.044 | -8.13% |
Block Status
A block becomes part of the finalized record only after its complete 63-trading-day period.
| Block | Eligible after | Days | Status | Result |
|---|---|---|---|---|
| 1 | 2026-08-25 | 0 / 63 | pending | not applicable |
| 2-4 | After prior block | 0 / 189 | not started | not applicable |
Hash Manifest
Hash commitments support later verification without disclosing private artifacts.
| Artifact | SHA-256 | Disclosure | Status |
|---|---|---|---|
| source freeze manifest | cb5a33dcdd953c26474868d4607b5c27b03eba2be04f9586d5d7faeac00b3650 | hash only | current |
| independent freeze manifest | 0c7e6db011df454a6983df00d4b70bc2727f8ba2d77c228d6716bdd80bf687a9 | hash only | current |
| public snapshot | See public hash_manifest.csv | public record | current |
Public Files
Only approved low-disclosure files are served by this Pages project.
Disclosure Note
This page is a public validation record, not investment advice or a product offering.