In my August 14 post (below), I published three model ETF portfolios, designed with for those who manage their own portfolio. Following is another update on the “Ascend” portfolios, as well as a few comments on market conditions.
The "Ascend" Portfolios
For a while I have considered creating model portfolios that readers can track along with—in fact, 3 portfolios built with a specific rationale for each stage of a self-investor’s journey and designed for scale. I am pleased to provide the first versions of these portfolios below.
As a reminder, each portfolio provides for a discrete level of experience:
Foundation: a simplified ETF portfolio creating the groundwork for future development.
Momentum: a ETF portfolio that builds confidence and range. It pushes boundaries and risk, while priming an investor for greater degrees of volatility.
Hyper-Frontier: a hyper-ambitious portfolio, that refines and expounds on learned risk-taking.
(Please be sure to read my disclaimers, if you haven’t already.) 1
Portfolio Performance
Following is an update on the portfolios through Week 6 (10 September, 2026), since inception of 30 July, 2026.
The Ascend portfolios remain in a positive position since inception, despite a negative couple of week in most major markets. Despite a few days of upside, rising oil prices, Iran uncertainty and bond market chaos continue to drive negative sentiment.
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Foundation
Momentum
Hyper-Frontier
ETFs in Focus
Relative to most positions in the portfolios, both FAS 0.00%↑, and IYF 0.00%↑ serve as counter holdings. While the Ascend portfolios are not as “conventionally” constructed as portfolios I was trained on (e.g., they contain less pure “global”, more emphasis on “growth” sectors, etc.), the inclusion of Financial positions was very purposeful.
Given the inflationary environment—real or perceived—that we are currently experiencing, coupled with a steep yield curve, Financials are poised to counter growth—that is to say, to generally do “better” when technology does “worse” and vice versa. Additionally, Financials tend to do better when persistent negative sentiment—which we have been experiencing for several quarters—begins to subside.
Essentially, when uncertainties clear, companies and individuals are more apt to borrow, acquire, merge, etc. In this environment, Financials tend to benefit.
The Slick Oil Narrative
Why hasn’t oil shot up to $150 per barrel? Or more? The reality of the “Oil Scarcity” narrative is that there isn’t a scarcity of oil production capacity. Primarily, rising oil prices are fundamentally a logistical problem, coupled with a loss in confidence that oil can be reliably delivered.
We’ve witnessed the rise in prices after various headlines, only for prices to stabilize then drift downward. While news outlets warn of “10 million barrels a day are gone!”, the reality is that both production in non-OPEC countries has risen, alternate routes for oil are contributing to deliveries and global oil demand is falling.
However, these factors alone are not enough to the energy shock we’re experiencing. The most important factor is actually inventories. Oil inventories, as well as adequate refining capacity, act as “shock absorbers” to strain on oil production and deliveries. Where $100 Brent prices currently serve as a “ceiling” of sorts, if physical flows—Hormuz tanker traffic, Saudi production and exports, Gulf oil inventories, etc.— fail to improve, $100 could be short lived.
Outlook
As mentioned previously, bull markets tend to “climb a wall of worry.” Markets reflect the difference between reality and expectations. So, as counterintuitive as it may seem, the current negativity in markets, and the subsequent volatility, is actually a bullish feature! This remains true, in my view, because the backdrop of this gloominess are strong economic fundamentals.
Should economic fundamentals begin to weaken, of course, this will be reflected in markets. However, most economic data point towards a global economy that is on a much stronger footing than most recognize.
It is in this setting that stocks tend to thrive.
Have a great weekend!
This publication is for brains, not bets. The Other Side of Obvious shares ideas, stories, and general financial information—not personalized investment, tax, or legal advice. Investing comes with risk (including losing money). Talk to a pro before you act. Please take time to read these important disclosures before you get started.
I am a long-term investor focused on extended periods of performance (i.e., 10-20 years), using few, if any, short term bouts of trading. So, there won’t be a lot of movement in these portfolios.
This is not investment advice nor a recommendation to buy or sell certain investments. The intent of these portfolios is to illustrate the thinking behind the investments in the hopes that the reader might translate these ideas into his or her own portfolio in an appropriate and suitable way.
These model portfolios each contain levels of risk. In particular, the “Momentum” and “Hyper-Frontier” models contain leveraged products that are not suitable for all investors.
If you don’t have an investment goal, please start one. Here is a useful article on how to begin.
If you need help building your own portfolio, consider reading “How to Design a Model Portfolio.”
Appreciate the update!