Systematic Long/Short Equity · One Engine, Many Formats
A Systematic Investing Engine, Plugged Into Your Portfolio
Noax builds and runs one factor-driven long/short equity engine: researched in-house, traded on our own capital, published in full. Investors of very different sizes consume it in the format that fits them, run effortlessly in your own brokerage account, or through your advisor. Same engine, same discipline, every account.
LIVE TRACK RECORD
Updated daily · IBCumulative return, net, since inception · shown at 2× gross leverage
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Ann. return
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Volatility
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Corr. S&P 500
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Factors. Data. Academic Research.
One systematic long/short equity engine, delivered in the format that fits each investor.
The Engine
Built on academic factor research, machine learning, and disciplined, rules-based risk controls.
The Formats
One well-oiled system, consumed in different formats by different investors: run effortlessly in your own brokerage account, or through your advisor — whatever the size of your portfolio. The same engine runs on our own capital, so our incentives are aligned with yours.
HOW IT WORKS · ONE WEEKLY CYCLE
One Well-Oiled Engine, Consumed Your Way
CALIBRATION · ONE DIAL
Leverage, your choice for your account
2.0× · typical
One dial moves all three together. The published track record is shown at 2× gross leverage. Your leverage is agreed in plain terms before anything runs.
FORMAT · YOUR ACCOUNT
Every weekly rebalance reaches a brokerage account in your own name, whether you are an individual investor or a family office. You execute the trades yourself, in minutes; for hands-off setups, execution can be arranged through an authorised firm.
Either way, custody stays with you. Your money never leaves your broker.
FORMAT · YOUR ADVISOR
Prefer a hands-off setup? The same weekly rebalance can reach an account your advisor manages for you, with your own calibration.
Are you an advisor and think the engine fits your clients? Start a conversation
Every account carries a tilt to small caps, a meaningful source of the engine's diversifying edge and part of what keeps capacity deliberately limited.
✓ Your money never leaves your broker account
✓ Every position visible, always
✓ The same engine runs on our own capital
✓ Advisory through Sapphire Capital EAFI (CNMV 220)
Track Record
Live from Interactive BrokersLive strategy, shown at 2× gross leverage, EUR · Inception: July 1, 2025 · Updated weekly · Last update: Loading...
Strategy: Systematic long/short equity. Factor-driven, mid-frequency, with weekly rebalancing and dynamically managed net exposure. A futures overlay is deployed selectively as a directional hedge when the model warrants. Figures shown are the systematic strategy currently running live in client accounts, shown at 2× gross leverage, in EUR: the strategy's return on gross exposure applied at a 2× gross multiple, neutral to client capital contributions and withdrawals, and net of an estimated margin financing cost on the borrowed capital (benchmark rate plus broker spread, accrued daily).
Every quarter since inception is documented in a full report: attribution, exposures, risk and benchmark comparisons.
View quarterly reportsMonthly Returns
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Returns
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Risk
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Notes: Track record of the systematic strategy as run live in client accounts, from July 1, 2025 (first full month), shown at 2× gross leverage in EUR: the return on gross exposure applied at a 2× gross multiple, independent of client capital flows. All returns are net of transaction and borrowing costs and of an estimated margin financing cost on the borrowed capital (effective federal funds rate plus broker spread, accrued daily on the levered long exposure in excess of capital), computed on the time-weighted return series. Target volatility ~16.5%. Past performance is not indicative of future results.
Want this engine working for you?
One systematic long/short equity engine, consumed in the format that fits you: in your own brokerage account or with your advisor, with the same models we run on our own capital, calibrated to your risk objectives. Capacity is deliberately limited.
Start a conversationReport Archive
One report per quarter since inception on 1 July 2025, covering performance, risk, attribution and exposures for the systematic long/short equity strategy as run live in client accounts. Every quarter is published, whatever the quarter did.
| Quarter | Period | Quarter return | Report |
|---|---|---|---|
| Q2 2026Apr – Jun 2026 | 1 April – 30 June 2026 | +16.2% | |
| Q1 2026Jan – Mar 2026 | 1 January – 31 March 2026 | +2.4% | |
| Q4 2025Oct – Dec 2025 | 1 October – 31 December 2025 | +2.5% | |
| Q3 2025Jul – Sep 2025 | 1 July – 30 September 2025 | −2.6% |
Quarter return is the compounded return over the three months, shown at 2× gross leverage, in EUR, gross of management and performance fees and net of all transaction and borrowing costs and of an estimated margin financing cost. Since-inception return, volatility and risk statistics are in the Track Record section above and in each report.
Report links open the PDF in a new tab. Reports are published without registration. Advisory services provided through Sapphire Capital EAFI (CNMV registration 220). Past performance is not indicative of future results.
15+ years bridging peer-reviewed research and live markets. Systematic long/short equity, aligned through our own book.
Founder & Director
Iván Blanco, PhD
Over 15 years bridging quantitative research and live trading in systematic equity. He leads the research behind every strategy and runs the same models on the firm's own capital.
“Rigorous factor research, applied with the discipline of someone who has lived through every regime, every drawdown, and every model failure a real book can throw at you.”
Markets
- Ex-Quant PM, Arfima Trading (TransMarket Group)
- Ex-Quant, Banco Santander
- Ex-Quant, BBVA
Academia & Research
- Associate Professor of Finance, CUNEF Universidad
- Director, Master in Finance
- Published in the Journal of Financial Economics, The Accounting Review, Journal of Corporate Finance, and Journal of Empirical Finance
Education
- PhD in Finance, UC3M
- MSc Finance & Quantitative Methods
- Aeronautical Engineer, UPM
FAQ
The Questions Everyone Asks First
Does my money move to Noax?›
No, never. Your money stays in a brokerage account in your own name, at your broker. The engine runs at Noax; what reaches your account is each weekly rebalance, ready to execute in under five minutes. You keep custody, you see every position, and you can pause or close whenever you decide.
Who executes the trades?›
You do: each weekly rebalance is yours to execute, in under five minutes. For hands-off setups, execution can be arranged through an authorised firm. Noax never touches your money.
How often are orders generated?›
Once a week, that is it. The engine rebalances weekly, so there is a single batch of orders each week. The strategy runs live in real client accounts; executing the weekly batch yourself takes under five minutes, in your own Interactive Brokers account.
What does it cost?›
No management fee. We charge a 20% performance fee above a high water mark, so we only earn when your account makes new highs. The exact terms are set out in your agreement before you commit to anything, with no hidden charges.
What broker do I need?›
We recommend Interactive Brokers and can guide you through opening an account. Other brokers with shorting and margin also work, ask us about yours.
How do I get out?›
It is your account. You can stop at any time and close the positions. No lock-ups, no exit windows, no penalties. And you are not left alone on the way out: we help you wind down the portfolio in an orderly way, so exiting does not cost you more than it should in transaction costs.
Still have a question?
Ask it in a 30-minute call, no commitment, no jargon.
Start a Conversation
A 30-minute call, no commitment. We respond personally within 48 hours.
How it works
Conversation
A 30-minute call to understand your goals, your current portfolio and what you want this strategy to do for it.
Plan
A plan calibrated to you: account size, target volatility and risk limits. In plain terms.
Onboarding
Account setup at your broker: we recommend Interactive Brokers and can guide you through opening an account; other brokers work too. Your money never moves to us.