Equity Curves · V5 baseline vs halfsize overlay

Full 10-asset portfolio · start equity 200,000 · log-scale y · conservative costs

V5 baseline halfsize overlay

In-Sample (2020 → 2024-04)

Out-of-Sample (2024-04 → 2026-05)

Curves are near-coincident by construction — the overlay only half-sizes mid-vol-band entries, so it diverges gradually rather than dramatically. Look at the endpoint gap and drawdown depth: the overlay aims for a smoother ride (shallower troughs) at a similar terminal equity. Sampled to ~500 points/curve.