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# Samuel Jeffey Strategic Operator: Travel Media Network Specialist and Quantitative Investor

> Global Logistics, Immersive Travel Guides, Photography & Media Strategy
> Quantitative Investment Strategies & Expanded Canvas Portfolio Asset Allocation

> Contact: nomadicsamuel@gmail.com

### Pages

#### About Samuel Jeffery: Global Media Founder & Travel Strategist
Howdy ya'll, I’m Samuel Jeffery!

I’m from the small village of Gold River on Vancouver Island, British Columbia — the kind of place where “big city” means you found a second grocery store and an actual stoplight. From those humble origins, I’ve somehow ended up exploring 75+ countries with my wife, Audrey Bergner, building a life that’s equal parts travel, storytelling, renovations and “how did this become our normal?”

Fernie, British Columbia at Island Lake Lodge, where Nomadic Samuel and Audrey Bergner enjoy a memorable family hiking day, smiling on a scenic lakeside trail while carrying baby Aurelia in a backpack carrier, surrounded by towering evergreens and calm mountain waters.

Nomadic Samuel started as a scrappy travel diary (before travel blogging was a profession) and grew into a full-blown travel publishing universe — with blogs, videos, niche side projects, and (because we like the pain game) a massive renovation project in Argentina. 

https://youtu.be/FhRUiS7Q_nM

And somewhere along the way, the vibe stayed consistent:

We go far. We go deep. We go remote. We eat way too much. We hike it off. Repeat.

Trevelin, Patagonia, Argentina at a cozy countryside restaurant, where Nomadic Samuel enjoys the good life with a glass of wine and a hearty bowl of pasta, savoring local food, relaxed mountain views, and slow-travel vibes in Chubut.

At a glance

TopicThe quick versionFromGold River, Vancouver Island, BC 🇨🇦 Travel experience75+ countries (and still hungry for more) Nomadic Samuel What we makeTravel guides, city guides, food guides, hiking guides, and travel videosOur vibePractical + personal + occasionally unhinged (in a helpful way)Where we baseSouth Alberta + Sierras de Córdoba — half the year each (Canada: May - October & Argentina: November - April)Current “plot twist”Fixing up a neglected family property in Argentina with a hotel + houses & traveling around Canada, Argentina & Japan as much as possible with our daughter AureliaSmall obsessionCollecting/hoarding quirky hats instead of typical “stuff”

Southeast Asia in the halcyon backpacking era, where a young Nomadic Samuel sits on ancient temple steps with his backpack, embracing pre-smartphone travel, dusty adventures, and the early days that inspired Nomadic Samuel’s journey.

The Internet Café Era

Before blogging was a “thing,” I was already a backpacker — and I mean the pre-smartphone, pre-influencer, pre-everyone-has-a-drone era mid to late 2000s era. I did massive shoestring trips across Southeast Asia and South America, popping into internet cafés once a week to email my family the classic update: “Still alive. Barely. Love you. Funds runnin' low. Headin' home soon.”

I loved the dusty-trail approach: show up in a destination, find accommodation boots on the ground, haggle, get lost, get found, repeat. Adventures, misadventures, and the occasional “this seemed like a really good idea merely 20 minutes ago” types of decisions. For me, that was the golden era of backpacking. 

Also, if you’ve never written down hostel directions on a crumpled receipt and then trusted your entire evening to that receipt… you've missed an important life experience.

George Town, Penang, Malaysia — Nomadic Samuel standing with a fully loaded backpack in a humble guesthouse room, the moment where a love for long-term travel sparked the creation of NomadicSamuel.com and a life of global adventures began.

The birth of Nomadic Samuel: Penang, sweat, and questionable life choices

Nomadic Samuel officially began in an attic guesthouse in Georgetown, Penang, Malaysia.

Picture it:

No windows

No A/C

A “death fan” doing its best

Me sweating profusely

And breaking my site multiple times over because I had absolutely no freakin' idea what I was doing

This site (and honestly, most of our projects) almost didn’t even make it off the ground. It took perseverance, learning things the hard way, and the occasional cold shower reset to keep things in motion.

And yes, Penang will always have a special place in my heart because it wasn’t just “where the site started.” It was where I learned the foundational travel-creator skill:

Try something. Break it. Fix it. Do it again, but slightly less disastrously.

(Also, Penang food is powerful enough to influence major life decisions. More on that later.)

South Korea during our English-teaching era, where a young Nomadic Samuel and Audrey Bergner take a playful selfie beneath bright hanging lanterns, marking the very beginning of our travel and storytelling journey together.

South Korea: teaching English and accidentally meeting my future wife (AKA travel partner in crime)

I taught English in South Korea for several years, and that’s where I met Audrey.

And yes, our origin story is peak early-travel-blog internet at its finest:

It started as an innocent link exchange between Nomadic Samuel and That Backpacker… and then it spiralled into a relationship, marriage, and a shared life built almost exclusively around travel. Audrey was also teaching English in Korea at the time.

We basically got engaged by SEO.

And if you’re wondering what our first “date-night” conversations sounded like… imagine two people who genuinely thought “this permalink structure is terrible” counts as flirting. Nah. Actually, we wandered all over Itaewon chowing down on Indian buffet and trying to find a used bookstore that had switched locations. 

Noboribetsu, Hokkaido, Japan, where Nomadic Samuel and Audrey Bergner immerse themselves in Japanese culture by wearing traditional yukata robes inside a cozy ryokan room, smiling during an onsen stay that deepened our love for slow travel in northern Japan.

Our travel style: from “hit every city” to going deeper

When we first hit the road together, we were big-time budget backpackers galavanting across Southeast Asia, Europe, and South America like there was no tomorrow. Big cities. Fast pace. Constant movement. Wake-up and have no freakin' clue where you are. Yep. We did that. And not for a short time. Years on end in the 2010s. What an experience it was.

Over the years, our travel style has definitely evolved and it got better.

Now we go slower and more intentional:

We love small towns and quirky off-the-beaten-path destinations

We go deeper instead of wider

We’ll spend months in one country rather than hopping around like caffeinated fiends with no plan

If you’re the kind of traveler who cares about the fabric of a place, not just the highlight reel, you’ll feel at home here.

Berchtesgaden, Bavaria in the German Alps, where Nomadic Samuel concentrates behind the camera filming travel footage on a rainy, moody day, showing the real behind-the-scenes work that goes into creating Samuel and Audrey travel videos.

Our “small places deserve big love” philosophy

Here’s a real example of how our brains work now:

We’re just as likely to be family trail hiking bums in a frontier BC border town like Fernie as we are to be zigzaggin' and zippin' around Vancouver. And in Patagonia? A remote, off-the-beaten-path Welsh town like Trevelin turns our crank more than tango shows and fancy steakhouses in Buenos Aires. That's the honest truth.

We go far, deep, and often remote because… we’re both from teeny tiny places ourselves. Gold River. Villa Berna. Those are our respective roots.

We truly believe tiny places deserve a spot on the map, a proper guide, and a spotlight that isn’t just “drive through quickly on your way to the more 'famous thing.'”

https://youtu.be/ROfGJxOKYbE

What you’ll find on NomadicSamuel.com

Nomadic Samuel is built for travelers who want trips that feel real and are easier to plan.

Expect:

Practical travel guides (logistics, timing, costs, what’s actually worth it)

City guides that help you get oriented fast

Detailed multi-day itineraries (with built in flexibility: hardcore hikers, foodies, family-focused, culture vultures...we've got ya covered)

Food guides for people who literally plan their day around meals (we don't just see you...we are just like you)

Hiking guides that don’t pretend weather is a minor detail

Itineraries that are ambitious but not delusional (where flexibility + downtime is a crucial component)

Banff, Alberta in the Canadian Rockies, where Nomadic Samuel embraces his inner mountain man wearing a cowboy hat at a dramatic alpine viewpoint, celebrating rugged landscapes, fresh air, and his love for mountain adventures over beach travel.

A few things we unapologetically lean in to

Mountains over beaches (we like the drama of peaks and weather systems with personality

Being outdoors (hiking, viewpoints, lakes, forests)

Soft adventures like kayaking and canoeing rather than dangling off a rope with our life on the line

Food that makes you go quiet for a second because your brain is malfunctioning by processing just how good it is

If you want…Start hereDeep destination planningOur long-form travel guides + itinerariesFood-first travelOur restaurant and café guides“Earn dinner” energyOur hiking and outdoors guidesSee it in motionOur travel videos (English: Samuel & Audrey + Spanish: Samuel y Audrey) 

Lake Titicaca, Peru, where Nomadic Samuel films travel footage on a boat while Audrey Bergner records behind him, showing the real behind-the-scenes teamwork that goes into creating videos for the Samuel and Audrey YouTube channel.

YouTube: where we learned to stop being awkward on camera (nah, actually we still are)

We’ve built a massive audience across platforms, and YouTube became a major part of our story.

We’re approaching one million combined subscribers + over 250 million views across our English and Spanish channels (Samuel and Audrey + Samuel y Audrey).

And when we first started filming? Awkward AF. We barely knew how to turn on the camera, felt super shy speaking in public, and our early gear had the stabilization and audio quality of a wiggly-wobbly shopping cart on gravel.

But we stuck with it and now we’re creating travel guides and videos that can and do outperform the so-called giants of the travel industry. It’s proof that passion + repetition + showing up consistently can lead to great things.

And yes, we’ve racked up hundreds of millions of lifetime views, which still feels mildly fake sometimes, like YouTube accidentally put a few extra zeros in the wrong place and no one has quite noticed just yet. But, we'll gladly take it. And keep going.

El Chaltén, Patagonia, Argentina on the Laguna Torre hike, where Audrey Bergner poses on a rocky outcrop with snowcapped Fitz Roy peaks and glaciers in the background, highlighting her work building Che Argentina Travel and deep Argentina travel knowledge.

We’re not one-trick ponies

Alongside our main travel sites, we’ve each built several niche projects.

That Backpacker (Audrey) — travel writing and destination guides around the world (75+ countries) and local (Canada and Argentina) with Audrey’s signature voice

Che Argentina Travel (Audrey) — a travel-focused niche site specializing in all-things Argentina from the perspective of a local award winning travel media specialist targeting project 23 (visiting all 23 Argentine provines)

Picture Perfect Portfolios (me) — investing from the perspective of an informed amateur: creative asset allocation, alternative investments, trend-following, return stacking, expanded canvas portfolios, and original portfolio ideas

In other words: we’ve kinda accidentally built ourselves a lil' travel-media empire over the years. Yes, we’re veterans now in the industry (time really does fly)… but we’re also always ever-evolving.

Banff in the Canadian Rocky Mountains, where Nomadic Samuel stands beside a vivid turquoise alpine lake with camera in hand, surrounded by evergreen forest and rugged peaks, capturing the outdoor photography moments that define his travel style.

Our current focus: the places we keep coming back to

Even though we’ve traveled widely, our content focus today is more intentional:

Canada (especially Alberta and British Columbia family road trips — proud BC born and bred boy energy over here)

Argentina (where we renovate a property and slowly travel around the entire country documenting our entire journey)

Plus repeat-return favourites like Japan, South Korea, Peru, and Germany. 

El Bolsón, Patagonia, Argentina, where Nomadic Samuel and Audrey Bergner prepare an asado outdoors, grilling traditional Argentine barbecue parrilla, raising glasses of Malbec red wine and plating meat in a relaxed backyard slow-travel moment.

The food situation (it’s serious)

We’re foodies through and through. I kid not… I will eat my way into accidental weight gain on trips and then rationalize it as “cultural research.”

We have done actual travel decisions based on food.

We have done visa runs (Penang is a prime example) where the quiet part of the plan was:

dim sum

Indian food

laksa

and an overall dedication to “eat all the things we’ve been thinking about for months”

Sierras de Córdoba, Argentina, where Audrey Bergner stands inside our partially demolished family property, smiling with raised hands as we tackle a major renovation project, restoring a neglected mountain home one chaotic step at a time.

Where we live now: two hemispheres, one chaotic calendar

We’re based in South Alberta (Canada) and the Sierras de Córdoba (Argentina) for half the year each. Basically maximizing the two hemispheres like seasonal migratory eccentrics with too much camera gear.

From November to April, we’re in Argentina working on a major “fix up the neglected property” project: a family property with a hotel and a few houses and traveling to all 23 provinces (project 23). From May to the end of October, we’re in Canada during the nicest months where we're roading tripping as a family across Alberta and British Columbia. Basically, ciao, to 6-months of Canadian winter and perpetual snow shovelin'.

This schedule sounds tidy on paper and then reality shows up like:

“Surprise! A repair.”

“Surprise! A storm.”

“Surprise! It’s video editing season.”

“Surprise! The thing you fixed is now broken again.”

(We’re learning. Constantly.)

Puerto Madero, Buenos Aires, Argentina, where Audrey Bergner kisses her baby Aurelia on a park bench in a leafy playground, capturing a gentle family travel moment while exploring the waterfront district during a relaxed afternoon in the city.

Meet our tiniest travel companion: Aurelia

We added a full little travel buddy to the mix: Aurelia, our daughter. She’s got itchy feet whether she asked for them or not.

Already she’s been to Canada, the US, Argentina, and Peru — including multiple flights, cruises, and overnight buses. She’s such a trouper. Honestly, she’s ridiculously easy to take places (which feels like cheating, but we’ll take it).

And yes, traveling with a kid changes you, mostly by forcing you to slow down, notice the small stuff, and accept that snacks are no longer a “nice-to-have,” they are a full-throttle logistics requirement.

Lago Puelo, Chubut, Patagonia, Argentina, where Nomadic Samuel stands on a rocky shoreline in a beret, surrounded by vivid blue lake waters and dramatic mountain peaks, capturing the feeling of remote, off-the-beaten-path travel in southern Patagonia.

Why you can trust our guides

I take travel content seriously because travel advice online can be chaotic, outdated, or written by someone who hasn’t been there since the Blackberry era.

Here’s how we try to do it differently:

First-hand experience: we write from places we’ve actually been and things we’ve actually done along with well-researched posts related to topics/experiences involving tours/hotels 

Practical details: logistics, timing, expectations, and the nitty-oh-so-gritty stuff you only learn by doing it

Honesty about tradeoffs: time vs money, comfort vs adventure, crowds vs solitude

Ongoing evolution: the way we travel (and write) keeps leveling up IMO

Also: I’m not here to sell you the fantasy version of travel. I’m here to help you plan the real version — the one where the views are incredible, the food is memorable, and something goes slightly sideways at least once or twice or thrice (because that’s tradition).

Kitzbühel, Austria — Nomadic Samuel and Audrey Bergner join fellow travel creators at the Social Travel Summit, a leading professional conference for travel bloggers, content creators, and tourism boards. This networking event brought together international storytellers inside a stylish alpine hotel lounge to share ideas, build partnerships, and shape the future of travel media.

Featured, invited, and occasionally let into rooms with name badges

Over the years, our work has been featured in The Huffington Post, National Geographic, Rode, Peru.com, JR Pass, Nasdaq, Investing and various publications in Argentina such as Vía País, Adnsur, Diario Necochea, Cholila Online, Memo, Diario Uno, Adnsur, El Comodorense and Ecos Diarios and Peru such as Peru.com and Notiviajeros.

We’ve also been invited as thought leaders, speakers and/or panelists to professional travel conferences like The Social Travel Summit, TravelCon, Traverse and the White House Travel Blogger Summit as professional creators in the industry.

Beyond travel media, I'm also a recognized authority in quantitative finance. My insights on systematic asset allocation and portfolio design on Picture Perfect Portfolios have been featured on Nasdaq, Investing.com & Grokipedia bridging the gap between global movement and institutional-grade financial strategy. Applying the same risk management I learned in 75 countries to portfolio construction.

Nomadic Samuel Jeffery invited as a featured guest and hosted creator at TravelCon in Tucson, Arizona—the premier conference for travel influencers and digital media publishers.

Professional network and campaigns

We’re exclusive members of professional travel blogging organization iAmbassador. 

Award-winning campaigns we've been a part of:

Northern Ireland — Nomadic Samuel embraces his inner fantasy hero while wielding a sword in full Game of Thrones-style costume during a filming experience for the award-winning 24 Hours in the UK campaign by iAmbassador, blending travel storytelling, creative campaigns, and a healthy dose of playful adventure.

🔹 24 Hours in the UK — A 24-hour, multi-creator campaign developed with VisitBritain that highlighted amazing experiences across England, Scotland, Wales, and Northern Ireland. Creators produced content every hour of the day, resulting in 32 videos and millions of impressions, and the project went on to win the World Travel Award for Europe’s Leading Marketing Campaign (2018).

Bergamo, Italy — Audrey Bergner and Nomadic Samuel join fellow travel bloggers dressed in Renaissance-style costumes during the award-winning BlogVille campaign by iAmbassador, posing inside a historic Italian courtyard. This creative tourism project blended heritage storytelling, immersive experiences, and travel media collaboration in one unforgettable campaign.

🔹 BlogVille (Emilia-Romagna) — A pioneering concept created with the Emilia-Romagna tourism board where travel bloggers lived in an apartment in Bologna and explored the region like locals. Over time, the project generated 1,200+ blog posts, reached millions on social media, and earned industry recognition for its impact.

Costa Brava, Spain — Audrey Bergner and a group of travel creators celebrate inside traditional wine barrels as part of the award-winning #EuroFoodTrip campaign by iAmbassador, a collaborative storytelling project that blended food, culture, and creative travel content across Europe.

🔹 #EuroFoodTrip — A collaborative effort between Costa Brava Pirineu de Girona (Spain) and Apt Servizi Emilia-Romagna (Italy), awarded Europe’s Leading Marketing Campaign (2017) for its creative cross-destination storytelling.

Brand partners

Lenovo

Google

Merrell

Tripadvisor

Viator

Tourism boards & destination partners

Germany 

Visit Britain

Scotland

Nova Scotia

Finland

Quebec

Kyrgyzstan in a cozy guesthouse room, where Nomadic Samuel sits cross-legged on a bed working on a laptop while wearing a traditional Kyrgyz felt hat, framed by ornate carpets and textiles that capture an early digital-nomad travel era.

The personal philosophy (and the hats)

I’ve always been more interested in collecting experiences (and yes, quirky hats I can actually wear and hang back home) than chasing the standard white-picket-fence path of massive mortgage + wage slave until ya croak + keepin' up the Joneses mantra.

Travel IMO keeps life from shrinking. It forces you to pay attention again. Food tastes louder. Neighbourhoods have personality. Weather becomes an active character in your storyline. And you learn that confidence is often just doing the thing even when you feel underqualified.

We do go slower now. We do have bases. But we're still adventurous.

Which is basically the entire origin story of this site.

And the hats?

They’re wearable memories. They’re conversation starters. They’re also a great way to look like you’re either:

a local

a cowboy/gaucho

a nomad

a fisherman

or someone who definitely knows where the best bakery is

All five are acceptable outcomes.

London, England on the River Thames, where a group of travel creators and Audrey Bergner are in red jackets waving from a speedboat during a high-energy tourism campaign, showcasing professional content creation and collaborative travel storytelling in the heart of the city.

Work with us

We collaborate with brands, tourism boards, and travel organizations when it’s a strong fit for our audience and style. You can view our entire 15+ history by checking out our Samuel & Audrey Authority Ledger.

Good fits include:

Travel campaigns that value storytelling and practical planning

Food-forward travel coverage

Hiking/outdoors trips where we actually hit the trail

Video + blog deliverables designed to keep performing long after the campaign ends

If you’d like to work with us, reach out with:

the destination/product

timeline

deliverables you have in mind

what success looks like for you

Miraflores, Lima, Peru, where Nomadic Samuel with a backpack gives a thumbs up from a cliffside balcony overlooking the Pacific Ocean, beach promenade, and rolling waves, capturing an early travel moment exploring the city’s famous coastal district.

FAQ: Nomadic Samuel, our travel style, and what we actually do all day

How did Nomadic Samuel start?

In an attic guesthouse in Georgetown, Penang, Malaysia. No windows, no A/C, and a whole lot of trial-and-error while I repeatedly broke my site.

Were you really backpacking before blogging was a thing?

Yep. I was doing long shoestring trips across Southeast Asia and South America, popping into internet cafés once a week to email my folks that I was still alive. Yep. I'm an OG in this space. Conversely, I'm just gettin' old. 

How did you and Audrey meet?

We both taught English in South Korea, and we originally connected through a link exchange between Nomadic Samuel and That Backpacker… which escalated into real life (in the best possible way). We've traveled, gone back to school, lived abroad and now are renovating a hotel together. What a life it has been together so far. 

What’s your travel style now?

Slower and deeper. We still love big highlights, but we’re happiest spending longer in fewer places, finding small unheard of towns, and letting a destination “click” instead of racing through it. 

What kinds of places get you most excited?

Underrated small towns, remote corners, and places that feel real instead of curated. We love destinations that have personality, true grit, and quirky stories.

Are you beach people?

Heck, no. Not at all. Especially me.  Mountains FTW. Forests FTW. Lakes FTW. Less peeps FTW. Weather with attitude FTW.

Where do you live?

We split the year between South Alberta (Canada) and the Sierras de Córdoba (Argentina), lining things up so we’re in each place during its best seasons.

What’s the Argentina renovation project?

It’s a big “bring this place back to life” project on Audrey’s family property: a property with a hotel and a few houses that we’re actively fixing up while living there seasonally. It's always been Audrey's dream to do this. Now, we're actually putting things in motion. It's big. It's scary at times. But we're gettin' things done slowly and we'll see it through. 

Do you travel with your daughter?

Indeed,Aurelia has already been on flights, cruises, and overnight buses across Canada, the US, Argentina, and Peru. She’s a total trouper. This is just the beginning.

What YouTube channels do you run?

We run English and Spanish channels (Samuel and Audrey + Samuel y Audrey), and we’re approaching a million combined subscribers across them plus 250 million combined views. Not bad for folks who could barely find the 'on switch' when we first started.

Were you always confident on camera?

Heck, no. Not even close. Not by a long shot. Early days were awkward, the gear was rough, and the learning curve was steep, but we stuck with it and grew into our style over time. 

What other sites and projects do you run?

Beyond Nomadic Samuel and That Backpacker, Audrey runs Che Argentina Travel, and I run Picture Perfect Portfolios (investing, portfolio ideas, and research from an informed amateur perspective).

Have you been featured in major publications?

Yes, our work has been featured in The Huffington Post, National Geographic, and various publications in Argentina. 

Are you part of any professional creator organizations?

Yes, we’re members of iAmbassador and have been part of award-winning campaigns listed in their case studies. 

Why the hats?

Because experiences are the point, and quirky hats are the most wearable souvenir on Earth. Also: they make great conversation starters and terrible packing decisions.

#### Samuel Jeffery | Investment Strategist & Portfolio Architect | Picture Perfect Portfolios
Definition: Picture-Perfect (adjective: NORTH AMERICAN)Meaning: lacking in defects or flaws; ideal."a picture-perfect summer day" or "a picture-perfect portfolio"

Defining the Ideal: This vintage illustration captures the essence of our mission. Just as one imagines a flawless summer day, we utilize rigorous research and data to construct "Picture-Perfect Portfolios"—investment strategies designed to be robust, efficient, and ideally aligned with your financial goals.

Welcome to Picture Perfect Portfolios.

I am Samuel Jeffery, an investment strategist, media publisher, and quantitative researcher. While I spent over 15 years building the Samuel & Audrey Media Network into a global authority, my focus today is the systematic engineering of asset allocation and expanded canvas portfolio design.

This site is the dedicated home for sophisticated DIY investors who have moved beyond standard "60/40" advice. It is for those who demand structural alpha, capital efficiency, and true diversification supported by institutional-grade rigor.

A Global Perspective: Before founding Picture Perfect Portfolios, my years traveling as "Nomadic Samuel" (pictured here in the German Alps) shaped my investment worldview. Understanding different cultures and economies firsthand is crucial to developing truly diversified, global macro strategies.

From Global Nomad to Quantitative Strategist

For over a decade, I operated as a digital nomad, managing some of the world's most successful travel media properties. When the global shifts of 2020 paused the travel industry, I applied the same obsessive rigor that built my media business to the world of quantitative finance. I treated white papers like maps and historical drawdowns like terrain.

What started as personal research evolved into Picture Perfect Portfolios. Today, I bridge the gap between "institutional" strategies—like Risk Parity and Managed Futures—and the modern brokerage account. My research on systematic investing and asset allocation has been featured on premier platforms including Nasdaq and Investing.com.

My brain is now a competitive landscape of concepts like Factor Investing, Return Stacking, and Trend Following.

Why I invest like a paranoid prepper (The Origin Story)

Most investment philosophies are born in an MBA classroom or a high-rise in Manhattan. Mine was born in a logging town that evaporated overnight and a country where prices change while you’re standing in line to pay for them.

Lesson 1: Gold River & The "All-In" Trap

I grew up in Gold River, British Columbia. In the 80s, it was a booming small-town built on pulp and paper. We had it all. And then, in the late 90s, the mill shut down. Boom. Gone. The town didn't just enter a recession; it practically turned into a ghost town overnight.

I learned about "Single Asset Concentration Risk" watching my hometown’s economy flatline because it was more or less 100% dependent on one commodity industry. While other kids were learning to ride bikes, I was subconsciously learning that "putting all your eggs in one basket is a really stupid idea."

That is why I don't trust the standard "100% Stocks" advice. I've seen what happens when the one thing you rely on stops working. It ain't pretty.

Lesson 2: Argentina & The Illusion of Cash

Fast forward to today. I split my time living in Argentina, a beautiful country with an economy that has absolutely zero chill. Living here has taught me that inflation isn't a theory; it's a lifestyle. I have watched prices triple in a month. Restaurants have price stickers on their menu. I have seen the purchasing power of cash dissolve faster than dulce de leche helado on a sidewalk in Buenos Aires.

So, when I talk about Managed Futures, Gold, and Trend Following, I’m not trying to sound fancy or impress the "FinTwit" crowd.

I talk about them because I am a financial survivalist at heart. I build portfolios that can survive a Gold River-style bust and an Argentina-style inflation spike. I want a portfolio that makes money when the world is normal, but keeps me safe when things go sideways.

This retro-styled infographic outlines the six key areas driving portfolio construction at Picture Perfect Portfolios: Equity Optimization, True Diversification, Capital Efficiency through Expanding the Canvas, Contrarian thinking, comprehensive Alternative Investments, and Defensive Asset Allocation.

Current Areas of Research

Currently, I am focused on six key pillars of portfolio construction:

1) Equity Optimization Moving beyond market-cap weighting to utilize factors like Value, Momentum, Min Vol and Quality that historically outperform the S&P 500 over long time horizons.

2) True Diversification Building portfolios that are maximally diversified across asset classes (Stocks, Bonds, Commodities, Systematic Alts, Uncorrelated Alternatives) and geographies.

3) Capital Efficiency (Leverage) Exploring how expanding the canvas (modest leverage) can improve Sharpe Ratios by allowing us to return stack uncorrelated assets on top of each other, rather than choosing one over the other.

4) Contrarianism Skating to where the puck is going. If a portfolio looks exactly like the herd (60/40), it will yield herd-like results. We aim for better.

5) Alternative Investments Incorporating Managed Futures, Long-Short strategies, Merger-Arbitrage, Style Premia, Gold, Crypto, M/N, Anti-beta, OTM Puts and Real Assets to create an "All Weather" defense.

6) Defensive Asset Allocation: Prioritizing the optimization of Sharpe, Sortino, and MAR ratios to manage drawdowns as aggressively as we pursue growth.

Our proprietary decision tree for evaluating investment strategies. We prioritize Capital Efficiency (expanding the canvas) as the foundation, followed by Maximum Diversification (incorporating uncorrelated alternatives), and finally Strategy Optimization (applying factor tilts like value and momentum).

The Strategy: The 1-2-3 Allocation Framework

While many investors begin their journey by picking individual stocks or sectors, I believe in a more rigorous, top-down + bottom-up hierarchy. At Picture Perfect Portfolios, I utilize a specific "Decision Tree" to evaluate every fund and strategy that enters the conversation.

The Hierarchy of Priorities

Capital Efficiency (The Foundation): We first ask, "Is the fund expanding our canvas?" We prioritize strategies that provide stacked exposure, allowing us to hold more uncorrelated assets than a traditional 100% equity or bond fund would permit.

Maximum Diversification (The Shield): Once efficiency is established, we look for strategy-level diversification. We prioritize portfolios that blend uncorrelated return streams—such as Trend Following and Real Assets—over those concentrated in a single asset class.

Optimization (The Edge): Only after the portfolio is efficient and truly diversified do we apply research-supported tilts, such as Value or Momentum, to enhance long-term performance.

Applying the Framework: GDE vs. AVGV

This framework allows us to make objective decisions in complex "Apples to Oranges" scenarios. For example, comparing a global value fund (AVGV) with an equity-plus-gold fund (GDE):

AVGV scores high on Diversification (Global) and Optimization (Value factor).

GDE scores lower on those specific metrics but is superior in Capital Efficiency ($90/90$ exposure).

Because Capital Efficiency is our #1 priority, the framework favors GDE. It provides an "Expanded Canvas" that a standard long-only equity fund cannot match. Our ultimate goal is the "Sayonara Fund"—a hypothetical vehicle that combines the optimization of AVGV with the efficiency of GDE. This does not exist yet. We're still dipping our toes in beta + something else from an ETF/mutual fund standpoint. 

The Art of the Expanded Canvas: Visualizing the core methodology of Picture Perfect Portfolios. By applying capital efficiency, we expand the investment "canvas" beyond traditional stocks and bonds to include a robust set of uncorrelated alternative investments.

Pioneering the "Unicorn" Research Space

I founded Picture Perfect Portfolios to fill a void in the retail investment landscape. At the time, the site was a "unicorn"—the only destination providing institutional-level deep dives (with travel narrative grade writing and creativity) into sophisticated, capital-efficient funds like BLNDX and UPAR and alternatives such as BOXX and CAOS for DIY investors.

This rigorous research led to the creation of the term "Expanded Canvas Portfolios." This concept describes the shift from limited 2D asset allocation to 3D capital efficiency and has since become a recognized framework within the finance community.

https://www.youtube.com/watch?v=wEwePvQbU_U

Institutional & Peer Recognition

Beyond the retail landscape, my research has gained some serious traction within the institutional investment community. I’ve had the pleasure of seeing my portfolio ideas discussed on the Excess Returns Podcast and recognized as a recommended resource by Moontower (Kris Abdelmessih).

My work is frequently cited or featured by the real "smart folks" in the systematic and quantitative space, including Mount Lucas, Alpha Architect, Convexity Maven, Accelerate and Standpoint Funds (Eric Crittenden).

Getting the nod from these institutional heavyweights is basically a "clinical" gold star for my data-driven obsession—proof that these strategies have some serious teeth, even if they were born in a carry-on suitcase.

The Operator in Practice: I am not just an investment theorist; I am an active operator. This infographic maps out my diversified portfolio of real-world assets, ranging from our global media properties like Nomadic Samuel and That Backpacker to physical real estate projects like Che Argentina and our current hotel renovation in Córdoba.

The Operator: Real World Asset Management

Along with my wife, Audrey Bergner, I have spent the last 15 years building the Samuel & Audrey Media Network into a global travel publishing powerhouse. Together, we have reached over 250 million viewers across our English and Spanish YouTube channels and collaborated on award-winning strategic campaigns for industry giants like Google, Visit Britain, and Lenovo.

Nomadic Samuel & That Backpacker: Our flagship travel media properties where we've partnered with major global brands and participated in award winning campaigns.

Samuel and Audrey (YouTube) & Samuel and Audrey (Facebook): Our primary broadcast channels documenting our travel, lifestyle, and business projects to a global audience.

Samuel y Audrey (YouTube): Our Spanish-language channel documenting our life in Argentina/Canada, real estate projects and travel abroad.

Che Argentina: Our flagship boutique travel and real estate project focused on high-end Patagonia and Estancia travel experiences, authored by my wife Audrey—a Peruvian-Argentine native who is currently leading our hotel renovation project in Córdoba.

As a member of the elite professional organization iAmbassador, our joint work has been recognized by National Geographic, Rode, Peru.com and the Huffington Post. Our shared journey has seen us invited as thought leaders and panelists to the White House, The Social Travel Summit, and Traverse, ultimately earning 2X World Travel Awards for "Europe’s Leading Marketing Campaign". Our portfolio of strategic partnerships reads like a Who's Who of the travel industry. We have collaborated on high-impact campaigns with global tech leaders (Google, Lenovo), major OTAs (Expedia, TripAdvisor, Viator), and premier destination management organizations, including Visit Britain, the German National Tourism Board, and Tourism Nova Scotia. You can view our 15+ verified history over at our Authority Ledger, Picture Perfect Portfolios Financial Ledger & Grokipedia citations.

Today, I bring the same level of professional rigor and systematic strategy that built our media empire to the world of quantitative finance. At Picture Perfect Portfolios, I provide data-driven insights and sophisticated asset allocation models for investors who demand the same excellence we've delivered for over a decade in the global media landscape.

### Posts

#### Picture Perfect Portfolios 2.0: Original, Classic and Alternative Portfolio Ideas!
I have a serious confession to make: Writing isn't my cup of tea!

It's odd to admit that given the fact that I run this blog, but it's the honest truth.

And since I took a trip to Patagonia last spring, I've fallen deep down the AI rabbit hole to the point where I've fiercely neglected this site with fresh forward facing content.

Once you've broken a habit (that was challenging to build in the first place) it's especially hard to get back on the saddle as resistance mounts the more you procrastinate; it's a vicious cycle.

However, I've been meaning to write an update to the model Picture Perfect Portfolio for several months.

I'm finally parking my arse down on the computer chair, turning off social media and henpecking away until this post gets done.

My first stab at creating the Picture Perfect Portfolio was my third blog post on this site!

I started off with reviews of UPAR and GDE and then somehow mustarded up the audacity to create my unique version of what I at the time considered to be the Picture Perfect Portfolio.

The first problem was that this portfolio wasn't investable.

The idea of an equal parts equities (global min vol), bonds (long-term treasury and TIPs) and alternatives (managed futures and gold) portfolio (targeting a 180% canvas) was my desired goal given the investing knowledge I had back in April 2022.

But it was unattainable.

The capital efficient product range was in its infancy back then.

Moreover, my understanding and comprehension of various alternative strategies was quite limited as well.

I've since expanded my knowledge on how different strategies such as style premia, arbitrage, long-short + market neutral equity and diversified tail-risk hedging can help investors build a more efficient, robust and resilient portfolio where the opportunity for excellent returns and stellar risk management collide.

All of this has corresponded with the golden age of capital efficient product development.

2023, in particular, was its coming out party!

We now we have the capacity to build the expanded canvas portfolios of our dreams.

And I'm excited to share some different potential combinations.

That brings me to the second problem with the original Picture Perfect Portfolio.

It was designed specifically for me as an accumulator and self-employed individual.

It reflects all of my personal biases, current life situation, retirement trajectory, dreams and aspirations that are unique to my life.

However, there is no such thing as the objective Picture Perfect Portfolio!

There is only the Picture Perfect Portfolio that is right for you based on your unique life circumstances, risk tolerance, unique personality quirks and overall investing knowledge.

What works for you may not work for me. And vice versa.

You may have a tremendous appetite for volatility, whereas I don't.

It's crucial to acknowledge that.

And with this in mind, I've decided to be audacious, once again, and take a stab at creating 10 different model portfolios that involve expanding the canvas.

These are the official Picture Perfect Portfolios 2.0 version.

They are benchmarked to various classic and alternative portfolios.

Some of these are my own original ideas whereas others are merely enhanced classic portfolios.

We'll also be covering how to mimic some fascinating alternative portfolios (with some compromises) and we'll even have one that is not handcuffed to a benchmark!

If that sounds exciting let's begin the journey by looking at the big picture.

The Big Picture For Investors

As investors we're faced with the daunting task of seeing the big picture.

Unlike in other endeavours we pursue in life, we're presented with the challenges of potential lost decades for mainstream investing strategies (hello, US large cap MCW equities in the 2000s) and alternative ones too (the pain game for managed futures in the 2010s).

You're expected to hold on tight.

Imagine having to be THAT PATIENT in other areas of your life?

Hey, your workout program might not give you ANY desirable results for an entire decade!

But you had better stick with it long-term if you want to see the intended long-term results.

WTF.

Imagine that?

It truly sounds hilarious.

Who would be willing to endure such stagnation?

Probably, no one.

Yet, as investors we're faced with that exact possibility and specific scenario if we put all of our eggs in one basket.

Lost decades.

Challenging underwater periods that last months and years.

One of our only lifelines against eventually running up against this friction is to diversify our assets across a diverse set of unique risk sources.

As the popular saying goes (I actually have no idea who first said it), the only free lunch in investing is diversification.

And so I've built my entire philosophy of investing around this framework.

1-2-3 Approach To Portfolio Construction

Given the unique challenges investors face today (and in the past) I've come up with a 1-2-3 approach to portfolio construction in this specific order:

Capital Efficiency

Maximum Diversification

Optimization (When Possible)

To better explain this let me give you a few specific examples.

I'd prefer a fund like AVGV over SPY given that it is globally diversified and tilts towards a research supported optimization strategy (value factor) versus the market cap weighted and home country biased US equity only strategy.

Using our 1-2-3 step process of comparing funds we're able to score points on number 2 (maximum diversification by this strategy being global vs US-only) and number 3 (optimization by tilting towards a research supported factor strategy) where we have an obvious winner in AVGV ETF.

Here we're comparing apples to apples.

However, things become a bit more complicated when we compare this fund with something like GDE ETF.

This is an apples to oranges scenario.

Its exposure offers investors 90% equities plus 90% gold futures.

Although AVGV is global (diversification benefit) and optimized (value) it only provides investors exposure to one strategy (equities) and furthermore it is not capital efficient.

Thus, by the framework that I use for portfolio construction I have a preference for GDE even though it only offers US equity exposure because it brings the uncorrelated alternative of gold into the equation of my portfolio in a capital efficient manner.

Hence, it scores points on capital efficiency and maximum diversification (two uncorrelated strategies) which I rank ahead of optimization (value tilt).

Now if a fund were created with AVGV at 90% and gold futures at 90%, I'm going to say sayonara to GDE.

The goal here is to expand our canvas to create as much space as possible for diversification.

We're able to fulfill all of our different portfolio mandates by using this formula.

We can construct defensive portfolios, offensive portfolios, tactical portfolios and everything in between by adhering to this process.

It's the ultimate form of flexibility to have access to a bigger canvas to paint our unique portfolio masterpiece.

I encourage you to stress test this formula (when it comes to portfolio construction) and if it doesn't work for you, consider applying a system that does.

Having a clear set of priorities and a decision-tree for making portfolio decisions is a blessing IMO as opposed to being a curse.

It helps you evaluate new funds and make decisions such as whether or not to potentially integrate them into your portfolio, axe/shrink others or hold off and evaluate further.

Asset Classes/Strategies: Big Picture

I briefly touched upon the importance of being able to see the big picture as an investor.

Well, what exactly do I mean by that?

It's the ability to view all of the potential strategies you may (or may not) want to add to your portfolio and to view them as a whole (portfolio level) as opposed to individual line items (individual parts of the portfolio).

If you're not able to do this, the chances of you sticking with these strategies, when they inevitably struggle, is slim at best.

This especially holds true for alternatives.

We'll forget a lost decade for US equities with enough distance in the rearview mirror but somehow our leash for alternatives tends to be much shorter.

For instance, feast your eyes upon the results of Long-Vol in 2008.

This was the most impressive strategy during the most challenging year for global financial markets in the past 50 years.

Did it ever pay-off to have committed some resources to this strategy in your portfolio back then!

But then look at how it bleeds out in the 2010s.

This is the nature of such a strategy.

Are you willing to hold on and rebalance diligently?

How are you doing to handle tracking error when your alternative sleeve is a drag versus a benefit on any given year?

Minimum volatility equities is another one worth careful examination.

Its defensive nature is not exciting with lower highs and lower lows.

It's almost like someone accidentally sat on your sandwich.

It compresses things.

But without fail it's been more defensive (relatively outperforming SPY) during years such as 2000, 2001, 2002, 2008, 2018 and 2022.

What you may also notice is that many alternative strategies thrived during the tumultuous 2000s and struggled in the 2010s.

It's only by zooming out that you can examine things with clarity.

Who knows what the future holds but the ability to step back and look at things from a distance is an incredible gift you can give yourself as an investor.

About the Author & Disclosure

Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.

Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

Picture Perfect Portfolio(s) 2.0 Version

Okay, enough rambling already, let's get to those portfolios!

So what we're going to do is explore 10 different capital efficient portfolios.

They range from being as defensive as possible (The Fortress) to bringing out the big guns trying to outperform equities with less risk (SPY Hunter).

Here's the complete list of them along with their corresponding benchmarks (note: one doesn't have one!).

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 

Picture Perfect Portfolio Originals 

The Fortress Portfolio (Benchmark: 40/60)

SPY Hunter (Benchmark: S&P 500)

Max D Triple P (Benchmark: 60/40)

The Honey Badger (Benchmark: VT)

The Contrarian (Benchmark: None!)

Canucklehead (Benchmark: 60/40 for Canadians)

These are the Picture Perfect Portfolio(s) originals.

If they have one thing in common it is this:

An attempt by an amateur investor to create serious portfolios with absolutely ridiculous names. 

Enhanced Classic Portfolios 

These are the enhanced classic portfolios.

I attempt, as best as possible, to keep all of their parts together (their original configurations) whilst expanding upon them with capital efficiency and increased diversification strategies.

Enhanced Ray Dalio Portfolio (Benchmark: Classic Ray Dalio Portfolio)

Enhanced Harry Browne Portfolio (Benchmark: Classic Harry Browne Permanent Portfolio)

My goal is to write detailed posts for all of the original portfolios listed above.

This is the abbreviated version.

Otherwise, we'd likely hit some ridiculous word count over 10,000.

And I do value your time, so I'll try to keep things as concise as possible.

The Fortress Portfolio

Defending and preserving wealth requires an advanced skillset as an investor.

Instead of obsessing over enhanced offensive equity optimization strategies, the focus is more on defensive assets and layering uncorrelated bets into what is overall a complex system that you've developed.

The ability to defend is what this portfolio is all about.

Hence, I've come up with the quirky title of it being "The Fortress Portfolio".

Close your eyes and imagine a medieval fortress that looks slightly haunted and that features an enormous misty moat.

It looks impenetrable and intimidating from a distance but as you get closer you notice it has all kinds of layers of defense that you didn't initially spot.

Archers hidden behind pillars.

Crocodiles lurking in the waters.

You've traveled back in time and you've got nothing but a small dagger in your hand.

Good luck getting in there.

There are a plethora of defensive strategies that are designed to keep you out.

If you get past one, you have to immediately contend with another.

That's what's going on here.

Do you even bother trying?

The Fortress Portfolio Funds

20% USML - ETRACS 2x Leveraged MSCI US Minimum Volatility Factor ETN40% RSBT - Return Stacked Bonds & Managed Futures ETF10% BTAL - AGF U.S. Market Neutral Anti-Beta Fund ETF10% CAOS - Alpha Architect Tail Risk ETF (MF conversion form AVOLX)10% FLSP - Franklin Systematic Style Premia ETF10% GLD - SPDR Gold Shares

The Fortress Portfolio Exposures

40% US Min Vol Equities40% Aggregate US Bonds40% Managed Futures Trend10% Market Neutral Anti-Beta10% OTM Put10% Style Premia10% Gold

The portfolio is basically an equal slice version of the following:

40% Equities40% Bonds40% Managed Futures40% Diversified Alternative Other

Canvas: 160%

Benchmark: 40/60 Portfolio

What we're trying to accomplish here is to keep our equity sleeve (typically the most volatile part of the portfolio) tamed by reducing its exposure to 40% whilst choosing a defensive equity optimization strategy (min vol).

We'll handcuff this to an equal slice of bonds and managed futures.

Bonds have typically provided a ballast during market downturns (2022 aside) and managed futures is one of the most reliable defensive strategies during times of turmoil.

Moreover, we've got diversified tail-risk hedging strategies (BTAL and CAOS) providing anti-beta market neutral and OTM Put exposure.

Finally, we've got some space committed for the OG uncorrelated alternative (Gold) which admittedly does its own thing and FLSP (style premia) which offers absolute return potential.

The end result is seven distinct strategies aimed at reducing volatility.

Let's throw this into a blender and see how it backtests.

You'll notice we've had to utilize funds such as PQTIX and AVOLX to get a taste of how managed futures and style premia performed since FLSP and RSBT are newer. But other funds like AVOLX (now CAOS) and BTAL and GLD can be stretched back to 2014.

CAGR: 7.94% vs 5.24%RISK: 7.12% vs 7.27%Worst Year: -1.80% vs -15.08%Max DD: -7.26% vs -18.20%Sharpe: 0.98 vs 0.61Sortino: 1.78 vs 0.90Correlation: 0.42 vs 0.93

Backtests ought to be taken with a grain of salt but if we're to examine the performance of these results it's a convincing win across the board.

The Fortress Portfolio has provided better returns, better risk adjusted rates of returns and enhanced volatility management over the 40/60 portfolio.

Its Sortino triumph may be the most telling of all.

Here is the drawdown simulation.

Here we're able to notice that the Fortress Portfolio was better able to handle the curveballs thrown during the initial stages of the pandemic (March 2020) and the massacre of 2022.

The goal of this portfolio is to provide decent returns whilst focusing on stellar defense; outperformance is merely a bonus (when it happens).

Here is the portfolio with live funds:

We're limited to the most abbreviated of backtests unfortunately!

Some of these awesome funds are hot off of the press including RSBT and CAOS (mutual fund conversion).

Although returns have been less than extraordinary it has flashed its risk management potential.

With a Stdev of 5.54% and Max Drawdown of -2.94% it provided fortress like defense without any offensive jam to date.

It'll be interesting to check back in on this portfolio in a year or two to see how it is performing.

SPY Hunter (Tactical) Portfolio

Our task is clear: Take Out SPY ETF (better known as the S&P 500)

We've been given a mandate of outperforming SPY on the upside whilst also potentially providing superior downside coverage.

Does that sound like a tall order?

Probably.

That's not going to stop us from trying.

We're all in on hunting down SPY.

Hence, the cheesy name of this portfolio: SPY HUNTER

You can think of this strategy as the bounty hunter equivalent of tracking down the most popular investing strategy of them all: MCW US Large Cap Equities.

Our plan of attack is to utilize capital efficient funds, diversify as much as possible, get a little tactical and also tail-hedge risk as the cherry on top.

Hence, we've got a nifty offensive mode and defensive mode configuration.

SPY Hunter Funds

40% RSST - Return Stacked US Stocks & Managed Futures ETF20% SPQ - SPQ Simplify US Equity PLUS QIS ETF20% HCMT - Direxion HCM Tactical Enhanced US Equity Strategy ETF10% GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund5% CAOS - Alpha Architect Tail Risk ETF5% BTAL - AGF US Market Neutral Anti Beta Fund

SPY Hunter Portfolio Exposures

Offensive Mode

109% US Equities40% Managed Futures10% Style Premia9% Gold5% Market Neutral Anti-Beta5% OTM Put

Defensive Mode

69% US Equities40% Managed Futures20% Cash10% Style Premia9% Gold5% Market Neutral Anti-Beta5% OTM Put

This portfolio hinges on the split personality of HCMT ETF which offers investors an all in or nothing approach (200% US equities or 100% Cash based on trend).

When in offensive mode we've stretched our equities beyond the 100% threshold (109% to be precise) and added a diverse range of diversifiers.

In defensive mode SPY Hunter retreats to the safety of 69% equities and has defensive assets such as managed futures and style premia (with absolute return potential), cash and two different tail-risk strategies.

Hence, we're going all in on attempting to outperform on both sides of the equation: offensive AND defensive

Canvas: 177% Offensive or 157% Defensive

Benchmark: SPY ETF (S&P 500)

You know what time it is!

Bring on the backtest...

Creating an offensive and defensive mode backtest wasn't the easiest of challenges!

What you'll notice is PQTIX representing the managed futures of RSST, AQR style premia covering SPQ (with its multi-strategy QIS approach) and SSO representing 2X HCMT.

In order to keep CASHX in the defensive portfolio I had to use BIL to simulate borrowing costs.

I'm not sure if this is the best way to do things. If you have suggestions for an improvement I'm all ears!

CAGR: 14.00% vs 10.99% vs 10.68%RISK:  15.32% vs 9.91 vs 15.23%Worst Year: -13.41% vs -5.04% vs -18.17%Max DD: -17.15% vs -8.96% vs -23.98%Sharpe: 0.87 vs 1.01 vs 0.68Sortino: 1.45 vs 1.79 vs 1.05Correlation: 0.94 vs 0.87 vs 1.00

I have to admit the results here totally melted my brain.

I DID NOT think that in defensive mode this strategy could potentially outperform SPY on its own.

And it did.

Wow!

Basically, this relieves pressure on HCMT fund to tactically tune itself  in a manner that is the winning difference.

It's more like the whipping cream and cherries on top of the cake.

It's the victory lap.

In offensive mode we can probably expect similar volatility to SPY with significant outperformance potential.

In defensive mode, we're looking more at 60/40 levels of volatility with potentially better defense.

And here are the correlations between all of the strategies.

I'd love to test this with live funds but SPQ ETF is super wet behind the ears.

I'll circle back later to do that when it makes more sense.

Max D Triple P

Next up we've got Max D Triple P!

I wish there was some clever story behind this portfolio but there simply isn't.

It's just the Maximum Diversification Picture Perfect Portfolio (Max D Triple P) which attempts to offer investors the typical exposure of a 60/40 portfolio with a dessert style sampler size of alternatives added to its back vis-a-vis pack-mule style.

Max D Triple P Funds

20% RSSB - Return Stacked Global Stocks & Bonds ETF20% RSBT - Return Stacked Bonds & Managed Futures ETF20% SPQ - Simplify US Equity PLUS QIS ETF10% RSST - Return Stacked US Stocks & Managed Futures ETF10% GDE - WisdomTree Efficient Gold Plus Equity Fund4% ARB - AltShares Merger Arbitrage ETF4% EQLS - Simplify Market Neutral Equity Long Short ETF4% SVOL - Simplify Volatility Premium ETF4% CAOS - Alpha Architect Tail Risk ETF4% FBTC - Fidelity Advantage Bitcoin ETF

Max D Triple P Portfolio Exposures

59% Equities40% Bonds30% Managed Futures10% Multi-Strategy QIS9% Gold4% Arbitrage4% Market Neutral Equities4% Short Vol4% OTM Put4% Bitcoin

I kind of like that this portfolio doesn't quite hit the 60/40 targeted configurations.

Sticklers may be pulling their hair out over the 59% equities (versus the 60% targeted allocation) but from my point of view that's just freakin' hilarious.

Also, feel free to swap out Bitcoin for something else (FLSP / BTAL / etc).

I know that is a deal breaker for some.

The idea is to just dip our toes in the cryptocurrency waters without any shitcoin residue as opposed to taking the polar plunge.

I like that we're not relying on any one particular alternative strategy to do all of the heavy lifting.

This is a 10 fund / 10 strategy portfolio!

It's the most complicated of them all but offers a plethora of unique strategies.

Canvas: 168%

Benchmark: 60/40 Portfolio

I'm going to refrain from doing a simulated backtest with this portfolio because we're up to nearly 3500 words at this point!

I'll circle back with a live fund backtest sometime next year.

The Honey Badger

The Honey Badger is pound for pound one of the toughest customers on this planet.

Have you seen what it is capable of doing?

It's our spirit animal attempt to tackle the biggest shortcoming of an all-equity portfolio.

Those jaw-dropping drawdowns!

Instead of being left to its own devices with the potential to be blindsided by a -50% 2008 tackle it attempts to better manage risk and volatility without compromising returns.

Unlike other portfolios we're not going to cheat by adding uncorrelated asset classes and strategies.

Here we've got to do things with equity only strategies: long, long-short, market-neural and tactical approaches.

The Honey Badger Funds

30% ACWV - iShares MSCI Global Min Vol Factor ETF30% QLEIX - AQR Long-Short Equity Fund20% HCMT - Direxion HCM Tactical Enhanced US Equity Strategy ETF10% BTAL - AGF US Market Neutral Anti Beta Fund10% VMNIX - Vanguard Market Neutral Fund

Here we're choosing pound for pound (er...I mean return per unit of risk) two of the top equity strategies.

Min Vol and L/S equity.

Between the two of them we're diversifying and improving our risk adjusted rates of returns.

Let's compare the backtest results to our benchmark VT.

We've more than achieved our goals right here!

We've shaved down volatility by nearly 500 bps and improved our Sortino Ratio by 50 bps!

Our goal with this portfolio isn't outperformance; it's better risked adjusted performance.

Why not just be over and done with it?

Because I still think we can slightly improve returns, risk management and the absolute return potential of this portfolio.

In order to do this, we're bringing back our tactical friend HCMT into the mix.

We're not using it to boost our offensive prowess but instead to buy ourselves more defensive diversification by adding absolute return M/N style funds.

Let's test that out.

We're using SSO ETF to simulate the results of HCMT when its in offensive mode and CASHX for when it reverts to defensive mode.

CAGR: 10.13% vs 6.13% vs 7.99%RISK: 10.25% vs 5.61% vs 14.94%Worst Year: -6.67% vs -5.72% vs -18.01%Max DD: -17.16% vs -9.04% vs -25.52%Sharpe: 0.87 vs 0.86 vs 0.50Sortino: 1.34 vs 1.39 vs 0.75Correlations: 0.87 vs 0.55 vs 0.97

That's more like it! We've boosted risk adjusted rates of returns with this upgrade.

I'm quite pleased with the results.

This portfolio is doing what it is supposed to (vol management: 10.25% to 5.61%) whilst offering better risk adjusted rates of returns (Sortino: 1.34 to 1.39).

Now let's see how it handles drawdowns.

The Honey Badger is playing some stingy defense!

Especially in defensive mode.

We'll take it.

Now let's explore correlations between funds to see the magic of diversification.

Things work so well with this portfolio because of the correlations of these funds.

It's why I keep harping on about diversification.

The Contrarian

Have you ever imagined blowing your benchmark to smithereens and pursuing portfolio construction without a roadmap?

I sure have!

And this is my attempt to shake the shackles and break free from it all.

Libre!

Instead of being hyper-fixated on long-only stocks and bonds we'll do something completely different.

Our primary strategy will feature a fund that offers managed futures as its core strategy.

Our secondary strategy will be a long-short equity fund.

Our third and fourth strategies will include a diverse mix of alternatives from two of the best in the game!

AQR and Stone Ridge.

This, my friends, is the Contrarian Portfolio.

Let's go!

The Contrarian

40% BLNDX - Standpoint Multi-Asset Fund20% QLEIX - AQR Long-Short Equity Fund20% QDSIX - AQR Diversifying Strategies Fund20% SRDAX - Stone Ridge Diversified Alternatives Fund

Here we're making the most of capital efficiency to bring you managed futures, long-short equity, long-only equity and two different 6-1 alternative strategies.

It's as diverse of a portfolio as you can put together with only four funds.

And it has the most impressive backtest of them all.

Here is how it has performed as far as we can roll back the clock.

I know I said this portfolio has no benchmarks...but does that mean we can't delight in its massacre over the 60/40?

Do I think we're in store for 14.20% CAGR and a 3.61 Sortino moving forward?

No, definitely not.

But what this portfolio has shown is that it can thrive during periods of market turmoil and stress.

It's certainly ruffled its contrarian feathers.

I'm anticipating excellent risk adjusted rates of returns on a long-term basis with all of the diversification we've got under one hood.

I'm personally looking forward to seeing its results in the future.

The Canucklehead

Did you know Canuck is slang for Canadian?

And well who could resist adding 'head' to the equation to compete with the Bogleheads.

Hence, the Canucklehead.

This one is for us Canadians.

We have access to US listed ETFs (not mutual funds) but we've got some great funds of our own north of the border!

Let's show them off.

The Canucklehead

40% AOFT - Auspice One Fund Trust15% HRAA.TO - Horizons ReSolve Adaptive Asset Allocation ETF15% ONEC.TO - Accelerate OneChoice Alternative Portfolio ETF15% PFAA.TO - Picton Mahoney Fortified Alpha Alternative Fund15% VEMA - Viewpoint Enhanced Global Multi-Asset Trust

You could describe these five funds as super diverse multi-asset strategy funds.

The Auspice One Fund Trust is the centrepiece here given it provides investors capital efficient exposure to equities, bonds and gold with an additional 100% layer of CTA on top.

HRAA is a risk parity fund with a capital efficient diverse ensemble of bespoke multi-strategy layers added to the mix.

ONEC is a masterclass in diversification between strategies such as long-short equities and arbitrage just to name a few.

PFAA is a fortress for managing volatility with its arbitrage, special situations and market neutral approach.

Viewpoint Enhanced Multi-Asset levers multi-assets to equity level volatility.

In tandem we've got exposure to equities, bonds, managed futures, gold, commodities, style premia, long-short equity, market neutral equity and more!

I'm not able to backtest this on portfolio visualizer (they don't take Canadian mutual funds) but you can check out the performance of these funds on Manulife mutual fund checker.

So we'll leave things here.

We're now done with the Picture Perfect Portfolio Originals.

Enhanced Ray Dalio Portfolio

Are you a fan of the Ray Dalio portfolio?

It's one of the most defensive classic configurations.

40% Long-Term Treasury30% Equities15% Int-Treasury7.5% Gold7.5% Commodities

But that doesn't mean it can't be improved.

Here's how you can potentially do just that.

Enhanced Ray Dalio Portfolio Funds

15% USML - ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN55% RSBT - Return Stacked Bonds & Managed Futures ETF7.5% COM - Direxion Auspice Broad Commodity Strategy ETF7.5% GLD - SPDR Gold Shares ETF5% QIS - Simplify Multi-QIS Alternative ETF5% CAOS - Alpha Architect Tail Risk ETF5% BTAL - AGF US Market Neutral Anti Beta Fund

Exposures:

30% Min-Vol Equities55% Bonds55% Managed Futures Trend7.5% Gold7.5% Commodities (long-flat)5% Multi-Strategy QIS5% OTM Put5% M/N Equity

Here we've fulfilled the Ray Dalio portfolio mandate (equities, bonds, commodities, gold) and made room for managed futures, multi-strategy QIS, OTM Put and M/N Anti-Beta.

I'd argue we've upgraded our equity sleeve (defensive equities) and long-flat commodities (less volatile than long-only) but I'll let you be the judge of that.

We're not able to get the exact treasury configuration but with aggregate bonds I think it's a decent substitute.

Let's try to backtest this:

Here is the performance summary results:

CAGR: 7.80% vs 4.47%RISK: 7.37% vs 8.67%Worst Year: -2.38% vs -18.39%Max Drawdown: -6.40% vs -20.58%Sharpe: 0.87 vs 0.40Sortino: 1.45 vs 0.58

I'd love to be able to roll the clock back further but COM ETF trips us up so we'll start in 2017.

The portfolios track each other almost perfectly until 2022.

The challenging results of 2022 is what can happen when your portfolio is composed of long-only assets.

Enhanced Harry Browne Permanent Portfolio

A lot of folks are impressed by the Harry Browne Permanent Portfolio with high degrees of praise for its simplicity, balance and ego-free diversification.

Myself included.

Its equal 25% slices ensure nothing in the portfolio is causing too much damage at any given moment in time.

It's also one of the most defensive (if not the most) classic portfolios.

25% Equities25% Bonds25% Gold25% Cash

Boom!

There it is.

Easy to understand and even easy to assemble.

Let's try to enhance it!

Enhanced Harry Browne Permanent Portfolio Funds

52.5% GDE - WisdomTree Efficient Gold Plus Equity Fund47.5% RSBT - Return Stacked Bonds & Managed Futures ETF

Exposures:

47.25% Equities47.25% Gold47.50% Bonds47.50% Managed Futures Trend

This is the only two fund portfolio in our entire series.

But don't be confused by its easy to assemble nature because it provides powerful diversification between four distinct strategies.

How we've modified it is by punting out cash for managed futures.

Over a long enough time horizon managed futures should deliver higher returns and provide better defense than cash.

At least, that's historically been the case.

Let's test it out.

And here is the performance summary:

CAGR: 10.10% vs 5.19%RISK: 11.33% vs 7.30%Worst Year: -11.23% vs -12.53%Max Drawdown: -14.06% vs -15.92%Sharpe: 0.79 vs 0.55Sortino: 1.46 vs 0.91

By significantly boosting our capital efficiency and swapping out cash for managed futures we pretty much crush the classic configuration from a returns/risk standpoint.

It's a massive CAGR win and our worst year and maximum drawdown improves too.

Managed futures is the secret weapon here providing crisis alpha on demand.

FAQ: Picture Perfect Portfolios 2.0 — Original, Classic & Alternative Portfolio Ideas

1) What do you mean by “expanded canvas” or “capital-efficient” portfolios?“Expanded canvas” means using funds that provide more than 100% notional exposure (e.g., 60% stocks + 60% bonds in one fund) or stack an uncorrelated strategy (like managed futures) on top of core assets. The goal is to pack more diversified return streams into the same dollar, not to take wild directional bets.

2) Why prioritize diversification and capital efficiency before “optimization”?In this framework, the order is: (1) capital efficiency, (2) maximum diversification, (3) optimization (factors/timing). Uncorrelated return streams reduce total portfolio volatility and drawdowns; only then do factor tilts (e.g., value/min-vol) and tactical overlays compound the benefits.

3) How should I read the backtests and tables in this article?They are hypothetical and limited by available live fund history; they illustrate how sleeves might have behaved together. Treat them as educational scenario analysis—useful for understanding diversification mechanics, not as forecasts or guarantees.

4) Who is “The Fortress” portfolio for?Investors who prioritize defense and smoother equity rides, want multi-layered downside management (bonds, managed futures, tail risk, anti-beta, gold, style premia), and are comfortable with a 160% canvas targeting lower drawdowns than a vanilla 40/60.

5) What’s the idea behind “SPY Hunter (Tactical)”—and why two modes?It seeks to outperform SPY with similar or lower risk by stacking equities with diversifiers (managed futures, style premia, anti-beta, tail risk) and letting a tactical sleeve toggle between offense (levered equity) and defense (cash) based on trend. The two modes reflect that built-in regime shift.

6) Why build “Max D Triple P” if it’s close to 60/40 anyway?It’s a 60/40-ish core with a sampler of alternatives (managed futures, QIS, long-short, arbitrage, short-vol, tail-risk, a small Bitcoin sleeve). The punchline: breadth beats precision—one more uncorrelated sleeve can matter more than hitting 60.00% on the nose.

7) What problem does “The Honey Badger” solve without leaving equities?It targets better risk-adjusted returns using equity-only tools: min-vol, long–short, market-neutral, and a tactical equity sleeve. That equity-stacked diversification can shave drawdowns while keeping equity-like return potential.

8) Why create “The Contrarian” with no classic benchmark?It intentionally ignores the long-only 60/40 centerline, emphasizing managed futures + long–short + diversified alternatives. It’s for investors who value tracking-error tolerance and want resilience across regimes more than index hugging.

9) What’s special about “The Canucklehead” for Canadians?It showcases Canadian-listed, multi-strategy funds (plus US-listed ETFs where allowed) to deliver stacked exposures—equities, bonds, CTAs, gold/commodities, long–short, market-neutral—within Canadian constraints and account types.

10) How are the “Enhanced Ray Dalio” and “Enhanced Harry Browne” different from the classics?They keep the spirit (stocks/bonds/commodities/gold or PP’s four-slice balance) but swap in capital-efficient sleeves and managed futures instead of cash where sensible. Result: more defense in bad regimes and potentially better long-run efficiency.

11) How do I implement these if a specific fund/ticker isn’t available?Think in exposures, not tickers. Map each sleeve (e.g., min-vol equity, managed futures trend, market-neutral anti-beta, gold, QIS/multi-strategy) to closest substitutes you can access, keeping correlation diversity the primary design rule.

12) How often should I rebalance and revisit the design?Set a calendar cadence (e.g., quarterly/semiannual) or bands (e.g., ±20% of target sleeve weights) to keep risk in line. Revisit annually: if your goals, constraints, or risk tolerance change—or new capital-efficient funds launch—adjust the canvas, not the discipline.

Final Thoughts: Picture Perfect Portfolios 2.0 and 3.0?

That's a wrap folks!

We've hit our mandate of 10 different portfolios and managed to annoy you with 5,161 words.

This is the longest blog post I've ever written by a country mile.

Honestly, I needed that amount of space to unpack things.

Truth be told, I could have easily rambled on longer.

Hopefully, some (or one) of these portfolios resonates with you given your current life circumstances.

All of these are just portfolio ideas rather than rigid cookie-cutter recipes.

Adjust, configure and modify to your preferences.

In fact, if there is one universal truth, it is that you probably should never copy another portfolio.

You should create one that is best for you and put your own personal stamp of approval on it.

That's how I invest.

My portfolio is a bit like "the Contrarian" and a bit like the "Max D Triple P" but its an odd ensemble of Canadian listed ETFs and mutual funds and some US ones too.

As I get older I may tilt things more along the lines of "The Fortress" when my accumulation days are in the rearview mirror.

I guess my point is this.

What works now, may not work in the future.

And I'm okay with that.

And hopefully you are too.

Don't feel backed into a corner.

You've got the ultimate flexibility as an asset allocator given the diverse range of possibilities that exist right now.

And things are likely to only get better.

So hopefully I'll be writing a Picture Perfect Portfolios 3.0 update someday.

If my knowledge as an investor improves and the product selection continues to grow by leaps and bounds, I'll be back again in another year or two to share with you what I'm excited about.

Until then my wish for you is to live well, invest confidently and grab life by the horns!

#### 10 Things Investors Need To Know About Managed Futures Investing Strategies
No other investing strategy has enjoyed a greater moment in the sun quite like Managed Futures in 2022.
Traditional long-only asset classes have struggled mightily in a year where stocks, bonds and gold have all been down at the same time.
Thus, portfolios committed to static only allocations to conservative asset classes have felt the full brunt of the scorched earth economic regime of high inflation combined with aggressive interest rate hikes.
As investors we’ve been spoiled with over a decade of growth and deflationary economic environments.
Hence, the need for adaptive portfolio solutions hasn’t been a high priority for most investors.
That’s all changed this year.
Long-Only Traditional Asset Classes Have Struggled Mightily In 2022
During previous bear markets such as the Great Financial Crisis of 2008 and the early 2000s Dot Com Bubble traditional asset classes such as bonds and gold saved the day for investors savvy enough to diversify their portfolio beyond merely equities.
Investors inspired by the Harry Browne Permanent Portfolio or Ray Dalio All-Weather Portfolio likely sailed through that challenging decade without missing a beat whereas all equity and 60/40 enthusiasts struggled mightily.
However, 2022 has been a historically rough patch for even the most diversified long-only portfolios that feature an alternative sleeve, fixed income and reduced equity exposure.
Therefore, it has been a coming out party for Managed Futures investing strategies due to the fact that it’s one of the only games in town that has conspired to help reduce the overall carnage.
In fact, Managed Futures have shined brightly.
Managed Futures = Saved The Day?
A fund such as KMLM ETF has returned an impressive 33.96% YTD.
DBMF ETF has fortified portfolios with 27.34% in 2022.
More recently minted CTA ETF has posted 20.35% since inception.
Yet, despite the impressive results few investing strategies are more misunderstood than Managed Futures.
Some investors believe that Managed Futures only perform well during tumultuous market conditions that require “crisis alpha”.
Others fail to understand that “trend following” is not the only Managed Futures game in town.
What we’ll attempt to unpack in this article is 10 specific things investors need to know about Managed Futures investing strategies in order to make more informed decisions.
Without further ado let’s hop right in.

Managed Futures Investment Strategy: 10 Things Investors Need To Know About Managed Futures!

Uncorrelated with Long-Only Equities and Bonds
Without a shadow of a doubt the most important thing investors need to know about managed futures investment strategies is that they've historically been uncorrelated with BOTH equity and fixed income allocations.
AQR's seminal must-read "A Century Of Evidence Of Trend Following Investing" back-tested the hypothetical performance of time series momentum from January 1880 until December 2013.
The results are as follows:

Trend-Following Correlation to U.S. Equity Market: 0.00 Trend-Following Correlation to US 10-year Bond Returns: -0.04
We can further confirm more recent correlation levels (this paper was published in 2013) with ETF and mutual fund managed futures products that have been in existence for close to a decade.

Since January 2014 until October 2022 these are the stock market correlation results versus the three different funds:
WisdomTree Managed Futures Strategy ETF Stock Market Correlation: 0.13First Trust Managed Futures Strategy ETF Stock Market Correlation: 0.02AQR Managed Futures Strategy HV l Stock Market Correlation: -0.26
What does all of this mean for investors?
The ability to add an "uncorrelated" asset class and/or strategy to your portfolio from a diversification benefit standpoint is huge.
We'll unpack this in more detail later on in the article but for the time being the capacity for managed futures investing strategies to form the alternative "third leg" of your portfolio warrants serious consideration.

Historically Consistent Crisis Alpha
Having a return stream that doesn't serpentine in unison alongside the likes of stocks and bonds is indeed intriguing.
However, the more important question is does managed futures perform well (aka providing "crisis alpha") when you need it the most?
In a word - YES!
Historically speaking trend-following managed futures investment strategies have come to the rescue consistently with ample force when shit has hit the fan across markets.
We'll once again consult the brilliant white paper from AQR to examine the 10 worst drawdowns for a 60/40 portfolio to examine if/when "trend-following strategies" tossed a life-vest.
A Century of Evidence on Trend-Following Investing

80% of the time trend-following MF strategies provided "above water" returns when drawdowns were beating the tar out of the 60/40 portfolio.
100% of the time "trend-following" strategies provided "relative outperformance" versus the 60/40 portfolio.
For instance, during the 1987 Crash and 1937 Recession "trend-following" wasn't above water but it wasn't blowing up either.
Moreover, the strategy hypothetically thrived during periods such as the 20s/30s Great Depression, 70s Stagflation, and Oil Crisis and early 2000s Dot Com Bubble and Great Financial Crisis.
How about in 2022 when both equities and bonds are being eaten alive like Jabba the Hut wolfing down frogs?

To find out let's compare KMLM ETF and DBMF ETF with SPY ETF.

To say certain managed futures strategies such as the ones deployed by DBMF ETF and KMLM ETF have delivered "crisis alpha" in 2022 is the understatement of the year.
Relative to the S&P 500, which has been down -17.75% YTD, DBMF ETF has boasted 32.84% returns whereas KMLM ETF has triumphed supreme rocking 42.72%.
If we look at market correlations we find both MF ETFs negatively correlated to markets at -0.58 and -0.44.
It's safe to say that MF investing strategies are indeed a historically reliable ally when markets are hopping on the shish-kebab.

Managed Futures Struggle Just Like Any Other Investing Strategy
Managed Futures strategies struggle mightily at times just like any other asset class.
As investors, we keep an industry-wide double standard where we're keen to forgive the S&P 500 and QQQ for a lost 2000s but we'll bring out the pitchforks and torches when Managed Futures strategies have a challenging 2010s often pronouncing it "dead".
If you're to think of MF as a line-item in your portfolio you're going to be disappointed time and again when the strategy inevitably experiences tracking error versus equities.
However, if you take the long-term approach of viewing Managed Futures as an uncorrelated "alternative sleeve" diversification juggernaut you'll likely be thrilled with the results if you can stay the course for decade upon decades.
Eric Crittenden, over at Standpoint Funds, made an excellent video highlighting the "line item" versus "combined asset classes" argument many investors struggle with.

Potential To Perform Well During Good Economic Times Too
One of the biggest misconceptions about Managed Futures is that they ONLY perform well when markets are down.
Although it is TRUE that that it is often a "strength" of trend-following strategies to provide reliable "crisis alpha" when it is needed the most it is FALSE that the strategy will be a drag on portfolio returns during other economic regimes.
In fact, Managed Futures have positive expected returns long-term and have historically provided "equity-like" returns with only half of the volatility when you consider results net of fees.

The full sample period of hypothetical trend following managed futures returns from January 1880 until December 2013 is 11.2% net of fees.
Something that should immediately "excite investors" is that the 2/20 fee structure is quickly becoming a thing of the past with more cost conscious products hitting the market in recent years.
With annual realized volatility of 9.7% risk management is another feather in its cap.
Getting back on track by considering the 90s as a classic example of trend following AND equities providing rip roaring returns at the same time.
We can further confirm this by checking out the returns of KFA MLM Index Year-Year Returns.

Here you'll notice the index KMLM ETF follows has tracked its performance dating back to 1988.
Notice the robust double digit positive returns from 1990 until 1999 for seven years (90, 93, 94, 95, 96, 97, 98).

Above you'll notice US Equity Large Cap returns for the 1990s.
The takeaway message for investors is that it isn't always Equities OR Trend-Following performing well while the other struggles.
It can be Equities AND Trend-Following Managed Futures driving phenomenal returns at the SAME time too.

Trend-Following Is the Predominant Managed Futures Strategy
We've shone the spotlight upon mostly "trend following" as the managed futures strategy we've focused upon more than any other.
Why?
Because it is hands down the most predominant strategy in the managed futures universe.
Let's unpack it a bit more.
Trend Following is an investment strategy that has the ability to go long/short across a broad equity, fixed income, commodities, currency and metals futures indexes.
It's a strategy that is adaptive rather than just being positioned long only.
What do I mean by that specifically?
If you're an equity investor with long positions in an S&P 500 index you only benefit when markets are going up.
You're screwed when they're down.
With trend following you're able to adapt your position based on the current trend.
When lean hogs are trending up you're long.
When they're trend down you're short.
The systematic approach to trend-following systems ensures no human emotion or judgement influences these decisions.
It just follows the moving average of its short, medium and long-term signals of the trading system.
That sounds great and all but what is the catch?
The catch is that when trends ARE NOT strong it'll likely get whipsawed.
I like to use the analogy of a cruise ship to describe this.
If the ship pulls into port but then gets called to another location (changes position from long to short or vice versa) it'll feel pain as it repositions.
Without adequate time to dock (ride the trend) it gets beat up in the ocean by choppy waves going from one place to the next.
Basically, when trends are not strong (or they're back and forth) the strategy struggles.
It does its best when trends are strong and continuous such as in 2022.

Other Managed Futures Strategies
Trend Following is not the only Managed Futures game in town.
We've also got carry, value, defensive, mean reversion and risk-off just to name a few.
Since this isn't an article "diving deep" into all of theses different strategies we'll just briefly highlight one of them.
For instance, carry is a managed futures strategy where you're long "high yielding" assets and short "lower yielding" assets.
This type of strategy is typically executed in currency/bond markets where you borrow and pay interest in order to buy something that has higher interest.
What's important to remember is that not all managed futures funds are "trend-only" products and that many include a multi-strategy approach to further diversify and potentially better manage overall risk.
When you're thinking of buying a Managed Futures ETF/Mutual Fund it is important to read the tear sheets and manager commentary pdfs to find out what strategies are being pursued by the given product in question versus what exposures/strategies you're seeking as an investor.

Managed Futures Hybrid and Asset Allocation Products
Investors need to be aware that managed futures products are often part of a hybrid strategy where they're paired with "something else" or they're a smaller slice of the pie in an asset allocation fund.
Two funds I've already reviewed on this site perfectly highlight these two examples.
Standpoint Multi-Asset Fund is an expanded canvas portfolio product which is long 50% global equities with a 100% trend-following managed futures sleeve.
Simplify Macro Strategy ETF is a fund of funds asset allocation ETF where managed futures ticker CTA ETF currently takes up a slice of the pie (24.93%) with a plethora of other strategies (I counted 10) also included in the mix.

Hence, you have the option of going for an expanded canvas hybrid or asset allocation approach alongside the opportunity to purchase a fund that is exclusively managed futures.

Exposures, Leverage and Volatility Targeting Matter
Not all Managed Futures ETFs and Mutual Funds are created equal.
Some have strict volatility targets (standard deviation) whereas others really let their horses run wild (winners win).
Other funds have gross leverage caps where long/short combinations are not able to exceed certain leverage thresholds such as 150%, 200% or 300% as an example.

Certain funds trade equities, fixed income, currencies, metals and commodities across a broad range of diversified global markets.
Whereas it's also common to find products that will key in on a more narrow range of focus (currency and fixed income only in North American markets) with niche expertise.
You'll discover that certain ETFs or Mutual Funds are "trend-following" only whereas others bring a diverse mix of managed futures strategies under one hood forming a multi-strategy approach.

Managed Futures Covers A Diverse Range Of Asset Classes
No other investing strategy that I'm aware of provides access to as diverse a range of asset classes as Managed Futures.

Standpoint Funds has an awesome Investment Universe list of global fixed income, equities, currencies, industrial commodities and agricultural commodities that it tracks.
Fixed Income
10 Year Australian Government Bond2 Year Australian Government Bond5 Year US T-Note2 Year US T-Note10 Year US T-NoteEuro German BobleEuro German BundLong GiltCanada 10 Year Government Bond10 Year Japanese Government BondLong Term Italian Government BondEuro OATEuro BuxlUS T-BondListtra 10 Year US T-NoteListtra T-BondsEurodollar3-Month EURIBORCanadian Bankers Acceptance3-Month Euro Swiss Franc3-Month Sterling
Equities
e-mini S&P 500 IndexEuro STOXX 50 IndexFTSE 100 IndexTopixHang Seng IndexNikkei 225 IndexS&P Canada 60MSCI SingaporeCBOE Volatility IndexSPI 200 Index
Currencies
British PoundUnited States DollarCanadian DollarEuroJapanese YenMexican PesoAustralian DollarNew Zealand DollarSwiss Franc
Industrial Commodities
GoldCopperAluminumNickelZincPlatinumSilverWTI Crude OilBrent CrudeECX EUA EmissionsGas OilCrude OilNY Harbor ULSDHenry Hub Natural GasGasoline RBOB
Agricultural Commodities
Soybean OilCornSoybeansSoybean MealWheatMilling WheatKC WheatCanolaFeeder CattleLive CattleLean HogsCocoaCoffeeSugarCottonRobusta CoffeeLondon CocoaWhite Sugar
For shits and giggles I have infinite amounts of fun pretending I'm having an oddball dinner by combining various combinations in one sentence.
Tonight for supper we'll be having Lean Hogs sprinkled with London Cocoa and Robusta Coffee purchased entirely with Swiss Francs.

Managed Futures Offer A Long-Term Diversification Benefit
Maybe the most crucial thing to understand as an investor is that managed futures offer a tremendous long-term diversification benefit for those who understand, commit and ultimately stick with the strategy as a permanent alternative sleeve within their portfolio.
Being able to combine an asset class and/or strategy that is uncorrelated to both stocks and bonds has the potential to enhance returns while lowering overall portfolio volatility.
Moreover, you get the added bonus of having a more palatable sequence of returns.
I found that portfolios that featured an "alternative sleeve" performed much better while also managing risk in the Battle of the Leverage Portfolios series.
Heck, even back-testing the results of US Equities and Gold (oddly considered an "alternative investment") revealed the benefits of combining uncorrelated asset classes that extend beyond equities/fixed income.
What Managed Futures strategies offer that long-only exposure to Gold and Commodity lacks is the ability to adapt by going long/short.
Since 2000, consider that Gold has had a worst year of -28.33% performance in 2013 and Commodities got hammered in 2008 with -45.75% returns.

More shocking is the maximum drawdown for Gold at -42.91% and Commodities at -88.68%.
How many investors have a chin worthy of receiving such vicious uppercuts?
Now consider the SG Trend Index since 2001.

A far more palatable worst year of -8.11% in 2018.
What happens when you stick with Managed Futures investing strategies over an extended period of time?
Higher returns.
Lower Volatility.
As far as I'm concerned that's the name of the game when it comes to portfolio construction.
As investors we should be seeking the ultimate scenario where returns and risk management collide.

Let's once again consult with AQR's research to compare the results of a 60/40 portfolio versus a 50/30/20 portfolio where the classic portfolio gives way for a 20% alternative sleeve commitment to "trend following" as a permanent allocation.
60/40 Portfolio Returns: 7.8%60/40 Portfolio Volatility: 10.8%60/40 Portfolio Sharpe: 0.38
50/30/20 Portfolio Returns: 8.5%50/30/20 Portfolio Returns: 8.8%50/30/20 Portfolio Returns: 0.53
Back-testing long-term hypothetical results from January 1888 until December 2013 reveals a 70 basis points increase in returns with a 200 basis points improvement in volatility management.
A slice of 10% Managed Futures to a classic strategy likely moves the needle whereas 20% really makes a difference over long time horizons.

Bonus: 10 People Worth Following To Learn More About Managed Futures
My intention with this article was for it to be an introduction to managed futures investment strategies for investors who are "new" to this from the perspective of a curious amateur.
However, for those seeking to take a deeper dive and learn more about the subject I'd highly recommend following these 10 fine folks in no particular order:

Andrew Beer
Jason C. Buck
Adam Butler
Jerry Parker
Rodrigo Gordillo
Jeff Malec 
Richard Brennan
Charles McGarraugh
Michael Covel
Tom Basso

From tweets and podcasts to books and articles to white papers and videos these guys have you covered across the board.

Super Bonus: 10 Managed Futures Funds To Consider
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Since we've already hit a bonus round let's up the ante by going "super" by highlighting a few funds worth your consideration.
We'll break things up into two categories: Managed Futures (trend + multi-strategy) and Asset Allocation Funds that include MF in no particular order.
Managed Futures ETFs/Mutual Funds (Trend + Multi-Strategy)

DBMF - iMGP DBi Managed Futures Strategy ETF
KMLM - KFA Mount Lucas Managed Futures ETF
CTA - Simplify Managed Futures Strategy ETF
RDMIX - Rational/ReSolve Adaptive Asset Allocation Fund Mutual Fund
AQMIX - AQR Managed Futures Strategy Fund Mutual Fund
EQCHX - AXS Chesapeake Strategy Fund Mutual Fund

Asset Allocation Funds (including Managed Futures allocations)

FIG - Simplify Macro Strategy ETF
TRTY - Cambria Trinity ETF
BLNDX / REMIX - Standpoint Multi-Asset Fund Mutual Fund
The Cockroach Portfolio by Mutiny Funds

Canadian Investors

HRAA.TO - Horizons Resolve Adaptive Asset Allocation ETF
NALT.TO - NBI Liquid Alternatives ETF
AHP 1110 - WaveFront Global Diversified Investment Class
Auspice One Fund by Auspice Capital

Nomadic Samuel filming while visiting Alert Bay on Vancouver Island, BC, Canada
Managed Futures FAQ: 12 Essential Answers for Diversified, All-Weather Portfolios
1) What are managed futures in plain English?
They’re rules-based strategies that trade futures across many markets—stocks, bonds, currencies, commodities—able to go long or short. The goal is to capture broad trends and provide returns that don’t move in lockstep with traditional stock/bond portfolios.
2) Why did managed futures stand out in 2022?
Because both stocks and bonds fell together, the “third leg” many investors were missing was an uncorrelated return stream. Trend-following CTAs (a core flavor of managed futures) often profited from persistent moves (e.g., rising rates, strong commodity trends), delivering “crisis alpha” when diversification mattered most.
3) Are managed futures only for bear markets?
No. While they’re famous for cushioning crashes, they can also do well when strong trends exist in any direction—up or down—across rates, currencies, and commodities. They tend to struggle in choppy, trendless markets.
4) What’s the difference between managed futures and “trend following”?
“Managed futures” is the umbrella. Trend following (time-series momentum) is the most common approach under it. Other managed futures styles include carry, value, defensive, mean-reversion, and risk-off tactics, and some funds blend multiple styles.
5) How do they diversify a 60/40 portfolio?
Historically, managed futures show low to negative correlation to both stocks and bonds. Adding a 10–20% sleeve has, in long backtests, raised returns and lowered volatility versus plain 60/40, improving the overall sequence of returns.
6) What do “long” and “short” actually mean here?
Going long a futures contract benefits if prices rise; going short benefits if prices fall. The ability to profit either way is a key reason managed futures can help in inflationary spikes or bond bear markets.
7) Why do some funds use “volatility targets” and leverage?
Futures are capital-efficient. Managers often scale positions to a volatility target (e.g., ~10% annualized) for consistency. Leverage is typically gross exposure from offsetting longs/shorts—risk controls (position sizing, diversification, risk limits) are central to design.
8) What markets do managed futures actually trade?
A very broad universe: global government bonds and rates, equity index futures, major currencies, and commodities (energy, metals, grains, softs, livestock). Breadth increases the chance of finding trends somewhere.
9) Why do these strategies sometimes “whipsaw”?
When markets reverse quickly or chop sideways, breakout/momentum signals flip, and the system takes small losses while repositioning. That “whipsaw” is the known cost of being available to participate in the next sustained trend.
10) How do hybrid or “expanded canvas” funds use managed futures?
Some products pair a core equity sleeve with a managed futures sleeve (e.g., ~50% stocks + ~100% trend exposure), or include managed futures as one piece inside a multi-strategy allocation. Read holdings/tearsheets to understand role and weight.
11) What should I look for when evaluating funds?
Focus on:

Process & style (trend-only vs multi-strategy)

Market breadth (global, multi-asset)

Risk controls (vol targeting, drawdown management)

Costs & taxes (expense ratio, K-1 vs 1099)

Fit in your portfolio (allocation size, rebalancing plan)

12) Is this financial advice?
No. This is education/entertainment only and doesn’t consider your situation. Do your own research and consult a licensed advisor before investing.
Nomadic Samuel Final Thoughts
I honestly couldn’t imagine my portfolio without a permanent allocation to a myriad of managed futures strategies.
My goal as an investor is to build the most robust, resilient and capital efficient portfolio possible where I seek maximum risk management alongside rip roaring returns.
Managed Futures strategies are an integral part of this process as they provide massive diversification benefits alongside my equity and bond sleeves.
Yet, I’m fully aware they’re not a magic bullet.
They’ll struggle at times just like any equity factor strategy, market cap weighted index or aggregate bond allocation.
I’m fully prepared for that.
A 2010s scenario of a challenging stretch for Managed Futures investing strategies is just as possible as a lost decade was for MCW US equities in the 2000s.
Investors with “weak hands” and a “soft chin” will abandon Managed Futures strategies as being “dead” when they’re relatively underperforming for a prolonged period of time.
More sophisticated and patient investors will understand this is just part of the overall investing journey.
Hopefully this article has helped unpack Managed Futures strategies in a more digestible manner.
As a more esoteric investing strategy than long-only stocks and fixed income it takes some digging and effort to unravel the potential benefits.
Yet the effort is well worth it in my opinion.
Now over to you.
What do you think of Managed Futures investing strategies?
Are they a flash-in-the-pan one-hit-wonder of 2022?
Or are they a permanent part of your overall portfolio?
I’m curious to find out!
Please let me know in the comments below.
That’s all I’ve got.
Ciao for now.

#### 10 Ways Investors Can Improve A 60/40 Portfolio | Ultimate Enhanced 60/40 Portfolio with ETFs
The 60/40 portfolio is by and large considered industry standard and is the default portfolio most investors own, yet we over here at Picture Perfect Portfolios believe it can be improved in 10 specific ways to create the Ultimate Enhanced 60/40 Portfolio with ETFs as the building blocks.
Are you crazy?
The 60/40 portfolio is already balanced and features just the right amount of equities (for optimal returns) and bonds (to manage risk) as it is.
Enter the room 2022.

For investors fortunate enough to live in countries where inflation hasn't been an issue for decades on end, 2022 has been a sobering reminder that a portfolio featuring two long-only asset classes (stocks and bonds) is woefully unprepared for stagflation.
What's missing specifically?
Alternatives.

60/40 Portfolio Lacks Alternatives

Alternative asset classes and strategies that are uncorrelated from equites and bonds, offer the potential to drive positive returns in a year where both stocks and fixed income are receiving equal opportunity flame-thrower treatment.
Specifically, long-short equity (value minus junk), market neutral long-short equity, long commodities and managed futures (long/short future indexes) have all been above water in 2022.
But how exactly are we going to create space in our portfolio to add these strategies and other alternatives such as Gold, Bitcoin, Long Volatility and Merger Arbitrage?
Traditionally, the approach has been to shave down 10% of your equity exposure and 10% of your fixed income exposure to go from a 60/40 configuration to a 50/30/20 portfolio.

60/40 ---> 50/30/20

Capital Efficient Low Cost ETFs As Building Blocks

However, in recent years a numbers of fund providers have created products utilizing a modest amount of leverage between two or more asset classes to provide exposure to stocks, bonds and alternatives in a creative and capital efficient manner.
A prime example of this would be a fund such as GDE (90 stocks / 90 gold) where a 20% allocation in your portfolio would provide you with 18% US equities and 18% Gold.
Hence, in the past where you'd need to use 36% of your portfolio to gain 18% US equities and 18% Gold you now only have to use 20% space.
This extra real-estate if utilized maximally allows for an investor to pursue a number of different alternatives asset classes and strategies without having to skin the proverbial 60/40 cat in the process.
What exactly do I mean by all of this?
What I'm basically trying to convey is that you can eat your 60/40 cake (stocks/bonds) and have plenty of room for a generous piece of pie (alternatives) too.
The idea is to be gluttonous in a way that isn't zeroing in on the same piece of cake but is instead treating the portfolios like a buffet where an assortment of flavours is most optimal.

Leverage As A Tool vs Concentrated Leverage Is Bad

Leverage gets a bad name in scenarios where it is used in a concentrated manner.
Dialling up an equity only portfolio to the moon and back takes a risky asset class and makes it ever risker.
Yet what I was able to discover in the Battle of the Leveraged Portfolios is that sensibly constructed portfolios that are roughly equal parts equities, bonds and alternatives can not only handle leverage but thrive when a modest amount is applied.
Thus, in the above example leverage is being utilized as a tool to expand the canvas of the portfolio to enhance returns while managing risk as opposed to taking concentrated risky bets with one asset class.
Hence, we're going to operate from the framework that the 60/40 portfolio has served investors well but can certainly be enhanced along the way.
Our goal here specifically is to use capital efficient building blocks (ETFs) to create the Ultimate Enhanced 60/40 Portfolio.
I've already written what ended up being two of my most popular articles on this blog related to ways to improve the Risk Parity Portfolio and Ray Dalio All Weather Portfolio:

10 Ways Investors Can Improve the Risk Parity Portfolio
10 Ways Investors Can Improve the Ray Dalio All-Weather Portfolio

Let's see if we can pull things off here with the 60/40 portfolio!

Building The Ultimate Enhanced 60/40 Portfolio with ETFs

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

10 Ways Investors Can Improve A 60/40 Portfolio with ETFs
The plan here is to limit ourselves to 10 specific changes only with regards to enhancing our 60/40 portfolio.
We'll start with a default milquetoast 60/40 portfolio of SPY and AGG.
SPY is the S&P 500 offering market-cap weighted exposure to the largest 500 US stocks whereas AGG represents the aggregate US bond market.
This portfolio, which is industry standard, exhibits extreme home country bias in the sense it completely shuns International-Developed and Emerging markets equities.
Given that diversification is our only free lunch we're going to fix that problem by going global while also trying to add as many alternative asset classes and alternative strategies to the mix as possible with a cap of 10 changes.
We'll keep the framework of the 60/40, that most investors hold near and dear to their hearts, while trying to build the most diversified portfolio we possibly can.

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
1/ Add Gold - GDE 90/90 US Equities + Gold
Adding Gold to the portfolio in a capital efficient manner is a cinch with GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund.
The 90/90 fund gives you 90% exposure to US large cap equities and 90% exposure to Gold via futures.
The dynamic duo of US equities and Gold have an incredible track record when paired together as I explored in "The Magic Of Combining Leveraged Stocks and Gold Together In Your Portfolio".
Historically, you get no less than double digit compound returns every decade dating back to 1972 with a 90/90 US large cap equities and Gold configuration.
Gold picks up the tab in the 70s and 2000s (when US equities struggled mightily) and US equities returns the favour in the 80s, 90s and 2010s (a rough patch for Gold).
Portfolio Allocation: 20%Notional Exposure: 18% US Equities + 18% Gold

2/ Add Bitcoin - SPBC - 100/10 US Equities + Bitcoin
Up until recently it was challenging to gain any kind of exposure to Bitcoin for US ETF investors.
That's all changed with SPBC - Simplify US Equity PLUS GBTC ETF.
This fund gives you 100% notional exposure to US equities with a combination of IVV ETF and S&P EMINI futures while layering on 10% to Bitcoin via Grayscale Bitcoin ETF GBTC.
A 20% allocation gives you full S&P 500 coverage at 20% while also ensuring you get a 2% allocation to Bitcoin.
We love capital efficiency over here on Picture Perfect Portfolios so we'll gladly take it.
Portfolio Allocation: 20%Notional Exposure: 20% US Equities + 2% Bitcoin

3/ Add Int-Dev Market Equities - NTSI - 90/60 Int-Dev Equities + Treasury
WisdomTree has created a fascinating roster of 90/60 Equity plus laddered Treasury Funds for investors to enjoy US, International Developed and Emerging Markets exposure with NTSX, NTSI and NTSE respectively.
Since, we've already got GDE and SPBC for our US Equity coverage we'll now go global by allocating 15% to NTSI.
We're getting 90% coverage for International Developed equities and 60% laddered Treasury Futures covering the entire spectrum: 2, 5, 10 and 30
We're expanding the canvas by utilizing this fund in order to create space for an alternative sleeve.
Portfolio Allocation: 15%Notional Exposure: 13.5% Int-Dev Equities + 9% Treasury (Laddered from 2% to 30%)

4/ Add Emerging Market Equities - NTSE - 90/60 EM Equities + Treasury
We'll only briefly touch upon NTSE - WisdomTree Emerging Markets Efficient Core Fund.
It's the exact same game-plan as NTSI but instead we're covering Emerging Markets this time around.
We're done with our equity exposure at this point.
Portfolio Allocation: 10%Notional Exposure: 9% EM Equities + 6% Treasury (Laddered from 2% to 30%)

5/ Add Efficient Treasury Exposure - TYA - 300% Intermediate Treasury
No other fund creates more space in our portfolio for additional sources of returns than TYA - TYA Simplify Risk Parity Treasury ETF.
The fund aims to match the duration of the ICE 20+ Year US Treasury Index by investing in both Treasuries and Treasury futures in the 10 year portion of the curve.
The capital efficient bang that you get for your buck is 3:1 meaning that just a 9% slice gives you 27% Intermediate Treasury coverage.
We now  don't have to spend another second on the "40" part of the equation.
Portfolio Allocation: 9%Notional Exposure: 27% Intermediate Treasury

6/ Add Market Neutral Strategy - BTAL - Long/Short Market Neutral Equity
Now that our long equity, treasury and gold has been taken care of let's turn our attention to alternatives with BTAL - AGFiQ US Market Neutral Anti-Beta Fund.
We're shorting 200 high beta expensive stocks while being long 200 low beta equities.
This absolute return hedge fund strategy seeks to provide positive returns in all economic environments whenever low beta stocks outperform high beta stocks.
This year in particular the strategy has shined as an effective equity hedge to lower portfolio volatility.
It's a great diversification strategy given that when done properly it's generally uncorrelated with long-only stocks and bonds.
Portfolio Allocation: 5%Notional Exposure: 5% to the strategy (200 Long Low Beta stocks / 200 Short High Beta stocks)

7/ Add Managed Futures - CTA - Multi-Strategy Managed Futures
No portfolio is complete from a diversification standpoint without some form of managed futures strategy as part of the equation.
There are some great Managed Futures ETFs now available including KMLM and DBMF ETF but we'll stick with the Simplify roster by taking a chance on the newly released CTA  Simplify Managed Futures Strategy ETF.
Something it offers that distinguishes itself from the pack is a multi-strategy approach where Trend, Mean Reversion, Carry and Risk-Off provide four Managed Futures strategies under one hood.
With its chameleon like capacity to go both long and short commodity and financial futures (excluding equities and currencies) it has thrived in 2022 by capturing strong trends in the markets to drive impressive positive returns for investors.
Portfolio Allocation: 16%Notional Exposure: 16% to the strategy (actual gross exposure is much greater)

8/ Add Long Volatility Tail Risk - CYA - Tail Risk Strategy
Rapid and brutal market drawdowns are always a possibility (such as what happened in March 2020) so we're carving out space in the portfolio for CYA - Simplify Tail Risk Strategy ETF.
By utilizing high income strategies the fund is able to purchase various PUT options (at different strike prices) to hedge against severe equity market selloffs.
You can think of this as portfolio insurance.
This strategy offers tremendous rebalancing potential when/if it pays out handsomely, in a buy-low scenario, when markets are down the most.
Portfolio Allocation: 5%Notional Exposure: 5% to the strategy

9/ Add Merger Arbitrage  - ARB - Merger Arbitrage Strategy
Since we're on quite a roll we'll continue to diversify our portfolio by adding ARB - AltShares Merger Arbitrage ETF.
Merger-arbitrage is an event-driven hedge fund strategy where managers seek to purchase stocks that are being acquired to capture a favourable spread between its current market price and proposed acquisition terms.
It's typically a high Sharpe Ratio strategy that provides diversification benefits from other asset classes and strategies that already exist in your portfolio.
Portfolio Allocation: 2%Notional Exposure: 2% to the strategy

10/ Add Interest Rate Hedge - PFIX - Interest Rate Hedge
No other alternative investment strategy we're reviewing in the Ultimate Enhanced 60/40 portfolio has done better in 2022 than PFIX - Simplify Interest Rate Hedge ETF.
In a rising interest rate environment (such as 2022) this particular ETF thrives when fixed income volatility increases drastically.
The fund utilizes OTC derivatives (over-the-counter interest rate options) which function in a similar manner to owning a long-date put option on the 20-year Treasury.
We don't have a lot of space to allocate to this strategy but we're thrilled with its results even with just a 2% commitment.
Portfolio Allocation: 2%Notional Exposure: 2% to the strategy

The Ultimate Enhanced 60/40 Portfolio: Complete ETF Holdings and Information
Let's see what the full roster of 10 ETFs looks like when it's all put together.
In terms of portfolio composition no ETF takes up more than 20% space whereas the minimum allocation is 2%.

Ultimate Enhanced 60/40 Portfolio Holdings
20% GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund20% SPBC - Simplify US Equity PLUS GBTC ETF16% CTA - Simplify Managed Futures Strategy ETF15% NTSI - WisdomTree International Efficient Core Fund10% NTSE - WisdomTree Emerging Markets Efficient Core Fund9% TYA - TYA Simplify Risk Parity Treasury ETF5% CYA - Simplify Tail Risk Strategy ETF5% BTAL - AGFiQ US Market Neutral Anti-Beta Fund2% PFIX - Simplify Interest Rate Hedge ETF2% ARB - AltShares Merger Arbitrage ETF
Simplify dishes up 5 ETFs whereas WisdomTree offers 3 leaving just AGF and AltShares as the other fund providers.
Simplify and WisdomTree, in particular, deserve a significant round of applause for creating the necessary puzzle pieces to allow this type of portfolio to even exist in the first place.
Not long ago investors didn't have as much access to alternative investment strategies or capital efficient ways of modestly leveraging equities, bonds and gold to create space in the portfolio.

150% Expanded Canvas: Ultimate Enhanced 60/40 Portfolio Exposures
Now that we've covered the entire roster of ETFs let's examine what kind of notional exposure we get for all of the specific strategies we're pursuing.
60.5% Equities (38% US - 13.5% Int-Dev - 9% EM)42% Intermediate Treasury18% Gold16% Managed Futures5% Long Volatility / Tail Risk5% Market Neutral2.0% Interest Rate Hedge2.0% Merger Arbitrage2.0% Bitcoin
We've maintained our darling 60/40 equity and bond mix and managed to add significant exposure to both Gold at 18% and multi-strategy Managed Futures at 16%.
Our tail risk portfolio insurance comes in at 5% which is also the same amount we're gaining with market neutral equities.
We round things off with a sprinkling of 2% Merger-Arbitrage, Interest Rate Hedging and Bitcoin.
Overall, we've expanded the canvas to the point of creating space for 50% alternative strategies.
This provides an opportunity for enhanced returns long-term while jazzing up the overall diversification of the portfolio.

Investing Strategies Added

International Developed Market Equities
Emerging Market Equities
Gold
Managed Futures (Trend-Following)
Managed Futures (Others Strategies: Mean Reversion, Carry, Risk-Off)
Long Volatility (Tail Risk)
Market Neutral
Interest Rate Hedge
Merger Arbitrage
Bitcoin

With just 10 simple upgrades we've managed to add 10 strategies to the mix of just US Equities and Treasuries!
If you consider the Managed Futures strategies as being 4 distinct line items that brings it up to 12 altogether.
Not too shabby at all, I'd say!
Let's move on to the potential pros and cons of the Ultimate Enhanced 60/40 portfolio.

The Ultimate Enhanced 60/40 Portfolio Pros and Cons
Expanded Canvas 60/40 Pros

Going from US equity home country bias to global diversification with International Developed (NTSI) and Emerging Markets Equities (NTSE) added to the mix
Utilizing capital efficiency in products such as GDE, SPBC, NTSI, NTSE and TYA to create "real estate" space in the portfolio for alternatives
Having significant exposure to absolute return strategy funds that have the capacity to go both long/short such as CTA and BTAL that can make money in every environment and often thrive during extreme markets
Bringing "tail risk" long volatility protection via PUT options into the portfolio as insurance against distinct rapid market drawdowns
Having exposure to both Gold and Bitcoin as fiat hedges and diversifiers within the portfolio
Being prepared for inflationary regimes with market neutral, trend-following and interest rate hedges to provide a ballast when stocks and bonds are down together
Having the entire strategy available as ETFs without the need to purchase Mutual Funds or Interval Funds (which some investors don't have access to *wink wink* Moi)
Having significant exposure to an ensemble "alternative sleeve" that can actually make a difference in the portfolio as opposed to merely a token amount
Gaining exposure to a number of unique strategies that have only recently become available to retail and DIY investors via fund providers such as Simplify and WisdomTree

Expanded Canvas 60/40 Cons

Having to deal with tracking error when the "alternative strategies" are a drag on the portfolio as opposed to being additive
Having overall higher fees versus single digit basis points market beta exposure to the S&P 500 and aggregate bond index

Nomadic Samuel enjoying a pint while visiting Cape Breton Island - Nova Scotia, Canada
12-Question FAQ — Ultimate Enhanced 60/40 Portfolio (with ETFs)
1) What is the classic 60/40 portfolio and why is it popular?
It’s a simple mix of 60% stocks / 40% bonds (often SPY + AGG). It’s popular for ease, long-run balance between growth and ballast, and low cost.
2) Why try to improve a 60/40 now?
Because 2022 exposed a blind spot: stocks and bonds can fall together in inflationary/stagflation regimes. A plain 60/40 lacks alternatives that can zig when both zag.
3) What’s the big idea behind the “Ultimate Enhanced 60/40”?
Keep the 60/40 core exposure while using capital-efficient ETFs to free space and add uncorrelated strategies (gold, managed futures, market-neutral, tail-risk, etc.)—without gutting the stock/bond mix.
4) What does “capital efficiency” mean here?
ETFs that deliver >100% notional exposure per dollar (e.g., 90/90 stocks+gold, 90/60 equities+Treasuries, 3× Treasuries) so you preserve core exposures and still slot in alternatives.
5) Isn’t leverage risky?
Concentrated leverage (e.g., levered equities only) can be brutal. The approach here uses modest, diversified leverage across multiple uncorrelated sleeves, seeking higher risk-adjusted returns and better drawdown control.
6) What are the 10 specific upgrades used?

Gold (GDE 90/90)

Bitcoin sleeve (SPBC 100/10)

Intl-Developed equities + Treasuries (NTSI 90/60)

Emerging markets + Treasuries (NTSE 90/60)

Capital-efficient Treasuries (TYA ~3× int.-term)

Market-neutral anti-beta (BTAL)

Managed futures—multi-strategy (CTA)

Tail-risk / long vol (CYA)

Merger arbitrage (ARB)

Interest-rate hedge (PFIX)

7) What’s the final ETF roster and weights?
20% GDE, 20% SPBC, 16% CTA, 15% NTSI, 10% NTSE, 9% TYA, 5% CYA, 5% BTAL, 2% PFIX, 2% ARB.
8) What are the effective (“notional”) exposures after stacking?
Approx.: 60.5% equities (38 US / 13.5 Intl-Dev / 9 EM), 42% Treasuries, 18% gold, 16% managed futures, 5% tail-risk, 5% market-neutral, 2% rate hedge, 2% merger-arb, 2% bitcoin (≈150% total canvas with ~50% in alternatives).
9) What diversification benefits does this add?
You move from two risk engines (stocks/bonds) to many: gold, managed futures (trend + other signals), market-neutral, tail-risk, merger-arb, rate-hedge, and a small crypto sleeve—each with low/negative correlation to the core.
10) What are the main trade-offs and risks?

Tracking error vs plain 60/40 (alternatives can lag in rip-roaring equity bull runs)

Higher fees than vanilla beta

Complexity (multiple funds, rebalancing)

Leverage/derivatives risks within capital-efficient funds

Product risk (structure, liquidity, strategy drift)

11) Who is this for?
Investors who want to keep a 60/40 framework but improve resilience across regimes (inflation, recession, crisis), and who accept moderate complexity and non-benchmark behavior to pursue smoother risk-adjusted returns.
12) How can I customize or simplify?
Swap SPBC if you don’t want crypto (use a US factor fund like min-vol/value). If you dislike PFIX/ARB, reallocate to CTA or other diversifiers. The framework is modular—keep 60/40 while tuning sleeves to your preferences.
Nomadic Samuel Final Thoughts
When it comes to the "alternative sleeve" of the Ultimate Enhanced 60/40 there is plenty of room for flexibility.
For investors adamant about not having ANY exposure to cryptocurrency within the portfolio it would be easy enough to swap out SPBC and add a US factor focused equity strategy instead.
A fund like USMV would give you exposure to US minimum volatility or VFMF for multi-factor or AVUV for small-cap value to name just a few.
You could easily choose your own adventure to further diversify your equities away from market-cap beta strategies only.
If for some reason you're not keen on having Interest Rate Hedges or Merger Arbitrage you could eliminate those funds completely and add the extra 4% to a fund like CTA to enhance your notional managed futures exposure.
The point of creating the Ultimate Enhanced 60/40 portfolio is to give you a general framework to work with but not to stymy your creativity as an asset allocator.

Return Stacked 60/40: Absolute Return Index
I'm not the first to take a swing at expanding the canvas of a 60/40 portfolio to add alternatives to the mix.
Resolve Asset Management and Newfound Research have created the Return Stacking 60/40 portfolio that I reviewed this year.
It's significantly outperformed a vanilla 60/40 portfolio during both positive markets (2021) and negative markets (2022) with its stack of managed futures and global systematic macro strategies especially shining this year in particular.
You can check out its live results at ReturnStacking.Live 
With its mix of Mutual Funds and ETFs, it has significantly more exposure to managed futures strategies than the Ultimate Enhanced 60/40 portfolio.
I'm a big fan of return stacking as a framework for expanding the canvas of your portfolio to diversify into alternatives.

I Don't Personally Invest Using Benchmarks
Something that I'd like to make clear is that I don't personally invest using any type of benchmark.
In other words, when I expand the canvas of my portfolio I'm not insisting that I have a 60/40 allocation as part of the equation.
I'm contrarian in my belief that NOT handcuffing your portfolio to a benchmark is one of the greatest gifts you can give yourself as an investor.
It allows you to allocate in a way that suits your specific personality and investing goals without requiring you to high five your neighbour when your portfolio is not performing "just like" theirs.
However, I'm aware that most investors don't want to deviate to such extremes and an enhanced 60/40 portfolio offers a solution where you get to keep what "everyone else is doing" but also differentiate yourself from the pack by adding alternative diversifying return streams to the mix.
If insisting upon a 60/40 framework as a base for your portfolio allows you to stay the course with alternative investment strategies, I think that's an excellent compromise overall.
I think that's where we'll leave things for today.
What do you think of expanded canvas 60/40 portfolios?

#### 10 Ways Investors Can Improve The Classic Risk Parity Portfolio
The Risk Parity Portfolio ought to be the default portfolio average DIY investors utilize as a long-term investing strategy as opposed to the industry standard 60/40 portfolio.
That's a bit of a bold statement to start off an article!
Well, if investors are concerned about primarily preparing a portfolio for all four economic regimes, controlling volatility and managing sequence of return risk, it's a slam dunk no-brainer to select the Risk Parity Portfolio over the 60/40 Portfolio.
Yet, an even bolder question would be, can the classic long-only Risk Parity Portfolio be potentially enhanced or improved?
That's the very question we're going to explore in detail today.

How To Improve The Classic Risk Parity Portfolio: 10 Suggestions For Investors

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

Risk Parity Portfolio Introduction

The Risk Parity Portfolio, as one might expect given its name, is primarily concerned with managing risk and volatility.
Instead of asset classes being weighted by default configurations such as 80/20, 60/40 and 40/60, a risk parity portfolio focuses on the volatility of each asset class as opposed to its expected returns.
Furthermore, instead of being merely a concoction of just stocks and bonds, an alternative sleeve is a big part of the risk parity strategy.
Traditionally, that alternative sleeve has been gold and/or commodities.
Given that stocks, gold and commodities are considerably more volatile (in terms of standard deviation) than bonds, the typical long-only Risk Parity Portfolio typically features two different bond asset classes at 30% slices whereas stocks and gold receive 20% allocations respectively.
20% Stocks30% Bonds A (10 Year Treasury)30% Bonds B (Intermediate)20% Gold/Commodities
Why this configuration?
Let's explore the asset classes individually.

Risk Parity Portfolio Asset Classes

Thanks to Portfolio Visualizer (an invaluable resource for investors), we can backtest the standard deviation of the US Total Stock Market, Intermediate Term Treasury, 10 Year Treasury and Gold dating all the way back to 1972.
We're able to notice the following:

Risk Parity Portfolio Risk By Individual Asset Class
US Stock Market = 15.65% Risk (Standard Deviation) Gold = 19.86 Risk (Standard Deviation)Intermediate Term Treasury = 5.75% Risk (Standard Deviation)10 Year Treasury = 8.01% Risk (Standard Deviation) 
Since the Risk Parity Portfolio is not primarily concerned with returns (and instead focuses on risk) you end up with a portfolio that has a greater allocation to bonds than it does to stocks and gold.
Furthermore, the Risk Parity Portfolio seeks to include exposure to asset classes that are uncorrelated with each other in order to improve the overall diversification of the portfolio.
It includes an alternative sleeve (in this example Gold) as opposed to just being merely stocks and bonds.
Risk Parity Portfolio Asset Class Monthly Correlations

What's immediately obvious is that Gold and Stocks are uncorrelated with all other asset classes and it is only bonds that are highly correlated with each other but uncorrelated to both Stocks and Gold.
This level of diversification between asset classes has historically served investors extremely well offering returns (CAGR of 8.31%) that were higher than Risk (Standard Deviation of 6.99%).
Risk Parity Portfolio Returns 1972-2022

The silky smooth ride of the static Risk Parity Portfolio has offered investors close to equity-like returns with bond-like stability.
When you consider its worst year performance is only single digits (-9.93%) it's been a bastion of stability in comparison to equity only portfolios where the US Total stock market has witnessed years as bad as -37% in 2008.
Moreover, the greatest feather in the Risk Parity Portfolios cap is its historical sequence of returns risk profile (also known as Roll Period) of only being underwater for 1 year.
Risk Parity Portfolio Roll Period 1972 to 2022

In comparison the US Total Stock Market has been underwater for a period of an entire decade!
How about the 60/40 Portfolio?
A five year negative sequence of returns risk.
Thus, how on earth could the Risk Parity Portfolio be improved?
Is that even possible?
Let's explore.

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
1) US Stocks Only --> Global Equities = Risk Parity Upgrade
Let's grab the lowest hanging fruit of all and move from US stocks only to a globally diversified equity allocation.
Afterall, diversification is your only free lunch in investing and avoiding "home country bias" is a paramount upgrade.
Indeed, US equities have served investors well over the past 40 years but the cautionary tale of Japan is a reminder to diversify whenever possible.
Furthermore, consider the 2000s as an example of what can potentially happen when you put all of your equity eggs in one basket.

A globally diversified equity allocation prevents investors from having a lost decade.
US Total Stock Market returns stymied portfolios with a -0.27% CAGR whereas International Developed Equities were slightly above water with a 1.24% return and the one that saved your bacon was Emerging Markets coming in at 9.82% CAGR.
Thus, to improve our naive Risk Parity Portfolio we'll go from something like a $VTI US Total Stock Market to a $VT Total World Stock Market.

2) Market Cap Weighted Global Equities --> Global Minimum Volatility Equities
Imagine being able to enjoy the same return profile (or better) of a globally diversified equity portfolio while subtracting 400 to 500 basis points of risk to further smooth out the ride?
Too good to be true?
Enter the room Global Minimum Volatility Equities.
Minimum volatility investing is an equity factor strategy that seeks to "control volatility" by screening for companies that have more stable returns while sifting out companies that are more volatile.
You eliminate lottery ticket stocks.
It's as much about what is included (more stable stocks) as it is about what is excluded (highly volatile stocks).
You would think that trying to reduce volatility would lower returns but that is not the case at all.

In fact, when you compare MSCI minimum volatility indexes (US, EAFE, EM, Canada, etc) what you more often find is that they historically outperform their market-cap weighted benchmark.
Since 1988 the MSCI World Minimum Volatility Index has outperformed its parent index with returns of 8.43% and 7.64% respectively.
Hence, you get a "free lunch" of potentially greater returns but more importantly you significantly upgrade the standard deviation of an asset class that is one of the portfolios most volatile wings (only gold being more volatile).

3) Intermediate Treasury --> Long Term Treasury = RP Enhancement
The next upgrade we'll be seeking is in the fixed income category of bonds.
Intermediate Treasury see ya later alligator!
Enter the room Long Term Treasury.
Wait. But. Why?

Let's consider the period of 2000 until the end of 2008 - the roughest stretch for markets since 1972.
During the Bear Market Years of 2000 until the end of 2002 and 2008, Long-Term Treasury provided significantly more protection versus Intermediate Treasury.
Moreover, for that entire rough period of time it outperformed Intermediate Treasury by over 200 basis points.
For a so called "lost decade" for equities, finding assets that provide more stability (when you need it most) and offer higher returns is an upgrade worth taking in my books.
PortfolioVisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

4) 10 Year Treasury --> TIPS (Treasury Inflation Protected Securities)
One of the biggest problems of owning Intermediate Treasury and 10 Year Treasury is just how highly correlated they are to each other.

With a correlation of 0.96 dare I say they're almost the same!
Given we've got two slots for fixed income diversification in our Risk Parity Portfolio let's try to upgrade by finding a solution that is less correlated and strategically different.
Drum roll....
TIPS!
U.S. government issued Treasury Inflation-Protected Securities (TIPS) are a special type of Treasury security indexed to inflation.
By adding this asset class to our portfolio we're making it more regime ready for when inflation rears its ugly head.
Enter the room 2022.
LOL.
Normally that expression is referred to on this site for funds and/or asset classes but 2022 has been a unique animal in and of itself.
For those of us too young to have experienced rampant inflation in previous years it's a big part of our lives now.

Maybe the most important upgrade of all is that now we've got two fixed income asset classes that have a correlation of 0.63 to each other as opposed to 0.96.
We'll take it and move on.

5) Leverage --> Lever the Portfolio Up Buttercup = 200% Canvas
Here is where I'm going to lose some of you.
We're going to add leverage to the portfolio to expand the canvas to 200%.
Not to add more heaping scoops of what we've already got but to instead add multiple different asset classes and strategies to improve the overall portfolio diversification and return stack performance on top of the base we've already created.
But won't that make the Risk Parity Portfolio fall apart?
That was a question I once had.
I created the Battle of the Leveraged Portfolios to test the Risk Parity Portfolio along with other classic portfolios to see if, when, why, how it would fall apart.
You can see the results here: 2X, 3X, 4X
The TL;DR version is this:
The Risk Parity Portfolio can handle leverage like a pack-mule.
In every round of the competition its returns exceeded its level of risk, roll periods remained the same and its Sharpe Ratio and Sortino Ratio improved.
But all of that was done with just four crude assets: long US total stocks, treasuries (Intermediate and Long) and gold.
What we're attempting to do is not increase what we've already got but instead add additional layers of diversification to further increase the efficiency of the portfolio.
Sound exciting?
It does for me!

6) Trend-Following Managed Futures Strategy
It's time to bring the Chameleon into the room!
So far we've had nothing but long-only non-adaptive asset classes and strategies in our portfolio.
That changes right now.
For those unfamiliar, trend-following is the predominant managed futures strategy used to go both long and short global equity, bond, commodity and currency indexes.
Historically speaking, it has provided equity-like returns with only half of the volatility.
Moreover, it is uncorrelated to both long only equity and bond markets.
Furthermore, it typically does extremely well during periods of market turmoil when trends are strong.
Hence, it has been referred to as a crisis alpha-strategy - even though it provides decent return streams outside of bear market situations.
Thus, the strategy utilizes short, medium and long term signals to determine whether to go long, short or take no position at all.
Quite honestly I couldn't imagine my portfolio now without it.
Best of all it has done extremely well in 2022 when basically everything else under the sun has been getting disemboweled.

Check out the difference between Managed Futures trend-following ticker $DBMF versus milquetoast 60/40 $AOM.
Suffering Succotash!!!

7) Global Systematic Macro + Options Strategies (Aside from Trend)
Some of the top quants on #FinTwit have coined the popular saying: "Diversify your diversifiers, yo!"
And that's the plan over here.
Instead of relying "only" on trend-following strategies we'll deploy other global systematic macro strategies such as carry, value, momentum, quality, seasonality and mean reversion along with long-volatility options strategies to protect against tail-risk (extreme market events).
I won't go over each of these line-items one by one but instead we'll define a few for good measure.
Carry is a strategy where investors seek to benefit from a wide differential between high and low carry assets.
Long-volatility strategies typically involve buying out of the money put-options, at various strike prices, to provide a type of "portfolio insurance" should the markets experience a fierce drawdown.
By not just sticking to trend-following we're exposing our portfolio to more diversified diversifiers.

8) REITS (Real Estate Investment Trust)
Let's add some global REITS to our portfolio.
Real Estate Investment Trust is a specialized equity asset class that gives you exposure to many types of commercial real estate.
The primary reason for adding them in your portfolio is to diversify your equity sleeve and hedge against inflation.

Much like with our bonds, we're seeking to add diversification to our equities sleeve by offering something less correlated to the US total stock market.
Given that the US Total Stock Market and REITS have a 0.61 correlation we'll happily take it.
Let's wind back the clock to the 2000s for a bit of a case study.

When the US Total Stock Market was causing investors to pull their collective hair out, REITs were the all-star performer that saved the day.
I'm not sure if we'll witness such an extreme situation again in the future but it's nice to be prepared with something in the portfolio that'll potentially work in our favour.

9) Market Neutral Equities Strategy
Market-Neutral Equities is an absolute return hedge fund strategy that seeks positive returns in any market environment.
By choosing a low NET exposure (typically between 0 to 20%) it is just as long as it is short most of the time.
Furthermore, it is lowly correlated to markets providing the diversification benefit we're craving with our additional 100% canvas space.
Let's use an example to showcase how it can make money even in the down market.
Let's say the strategy is long 100 and short 90 for a net 10 exposure.
Our long equity component is down -8% whereas our short component is down -20%.
We'd be -80 + 180 for a net of 100.
In this scenario we'd earn an impressive 10% return before fees.
It can also generate positive returns when the market is up.
Our long component at 100 is up 12% whereas our short is only up 5%
We're 120 - 45 in this scenario for an overall 7.5% return.
Given the absolute return potential and diversification benefit of the strategy we're excited to add it.

10) Mish-Mash of Other Alternative Strategies
To close things off we'll further diversify our portfolio by drawing from a well of a mish-mash of other alternative strategies.
These could potentially be but are not limited to the following:

Merger Arbitrage
Bitcoin
Reinsurance
Tail Risk
Credit Hedging
Private Equity
Private Loans

I could write an entire article on each of these strategies so we'll keep this brief.
The idea is just to add a few more diversifiers to round off the portfolio.
It would entirely be up to you which of these you'd potentially choose depending on your interest towards the various asset classes and/or strategies.

Improved Risk Parity Portfolio
What does our improved Risk Parity Portfolio look like after all of these potential upgrades and an expanded canvas?
Maybe something like this:

Enhanced Risk Parity Portfolio 200%
40% Trend-Following (Equity, Bond, Currency, Commodity Indexes)30% Global Systematic Managed Futures Strategies (Carry, Seasonality, Value, Momentum, Quality, Mean Reversion, etc)30% Long Treasury30% TIPS20% Global Minimum Volatility Equities20% Gold10% REITS10% Market Neutral Equities10% Diversified Alternatives Basket (Reinsurance, Merger Arbitrage, Bitcoin, Private Equity/Credit, etc)
Overall, I very much like the looks of what we've got over here.
We've improved the overall diversification of our portfolio while adding more uncorrelated asset classes/strategies to the mix.
I'd expect returns to exceed risk with this high Sharpe/Sortino ratio seeking portfolio with the potential to outperform most others while offering a considerably smoother ride.

ETFs and Mutual Funds to Create an Enhanced Risk Parity Portfolio
For those interested in putting together something "similar" to what we've suggested we could potentially utilize the following funds:
US Investors
40% UPAR40% RDMIX15% QRPIX5% SRRIX
UPAR Ultra Risk Parity sets the table for the long-only Risk Parity asset allocation by providing global equities (US, Int-Dev, EM) at 35%, TIPS (49%), Long Term Treasury (49%) and Gold/Commodities (35%) for a net exposure of 168%.
RDMIX Rational Resolve Adaptive Asset Allocation from ReSolve Asset Management provides the backbone of the "adaptive" risk-parity mandate with trend-following and an ensemble of global systematic managed futures strategies (carry, seasonality, mean reversion, value, etc) across all global equity, bonds, commodities and currency indexes.
QRPIX Alternative Risk Premia Fund from AQR goes long/short across equity, bond, currency and commodity indexes while deploying five unique styles including Value, Momentum, Carry, Defensive, and Trend.
SRRIX Stone Ridge Reinsurance Risk Premium Interval Fund offers investors the alternative strategy of reinsurance to round out the portfolio.
The hybrid approach of long-only and long-short risk parity strategies as the backbone of this portfolio along with diversified diversifiers should provide investors the returns meets risk management they crave.
Canadian Investors
40% UPAR40% HRAA.TO10% PFAA.TO10% ONEC.TO
UPAR Ultra Risk Parity sets the table for the long-only Risk Parity asset allocation by providing global equities (US, Int-Dev, EM) at 35%, TIPS (49%), Long Term Treasury (49%) and Gold/Commodities (35%) for a net exposure of 168%.
HRAA.TO Horizons Adaptive Asset Allocation from ReSolve Asset Management provides the backbone of the "adaptive" risk-parity mandate with trend-following and an ensemble of global systematic managed futures strategies (carry, seasonality, mean reversion, value, etc) across all global equity, bonds, commodities and currency indexes.
PFAA.TO Picton Mahoney Fortified Alpha Alternative Fund offers investors a primary strategy of market neutral, special situation credit and merger arbitrage with a secondary component of Momentum, Value, Quality, Discretionary Hedges and Tail Risk.
ONEC.TO Accelerate OneChoice Alternative ETF is a 10 in 1 fund offering exposure to Bitcoin, Long-Short Equity, Senior Loans, Merger Arbitrage, REITS and Global Infrastructure equities not already included in the portfolio.
The one sad thing here is that we're not able to squeeze a minimum volatility equities strategy into the equation but hopefully such a product will exist someday in the future!
The Picture Perfect Portfolio that I'd love to launch someday as an ETF attempts to solve that.

Risk Parity Resources For Further Reference
For those interested in learning more about Risk Parity investing I'd recommend the following resources:

Risk Parity: How to Invest for All Market Environments (book) by Alex Shahidi
Adaptive Asset Allocation (book) by Adam Butler, Rodrigo Gordillo and Mike Philbrick
Risk Parity Chronicles (blog) from Justin living in Japan
All Seasons Portfolio (blog) by Nicholas Ahonen from Sweden

Nomadic Samuel filming a travel video while visiting Lake Titicaca in Peru
12-Question FAQ — 10 Ways Investors Can Improve the Classic Risk Parity Portfolio
1) What is a classic long-only Risk Parity portfolio?
A rules-based mix that balances risk (volatility) across assets instead of capital weights, typically: 20% stocks, 30% 10-Yr Treasuries, 30% intermediate Treasuries, 20% gold/commodities—aiming for all-weather resilience and shallow drawdowns.
2) Why consider improving Risk Parity at all?
To keep the all-regime intent while seeking higher risk-adjusted returns, lower correlations, and better inflation defense using modern tools (TIPS, managed futures, market-neutral, merger arb, etc.).
3) What’s the first equity upgrade?
US-only → Global equities. Going global (developed ex-US + EM) reduces home-country bias and helps avoid “lost-decade” concentration risk.
4) How can we make equities smoother without giving up much return?
Market-cap → Global Minimum Volatility (MinVol). MinVol tilts toward steadier companies, historically lowering stdev and improving downside capture—well aligned with Risk Parity’s stability goal.
5) How should the bond sleeve be refined?
Replace the “two-highly-correlated Treasuries” problem by upgrading Intermediate to Long-Term Treasuries (more crisis ballast) and swapping 10-Yr Treasuries for TIPS to add explicit inflation linkage and lower intra-bond correlation.
6) What does “expand the canvas to 200%” mean?
Use return stacking / modest leverage to add new diversifiers on top of the classic core (rather than doubling the same assets), targeting more return streams with controlled risk.
7) Why add Managed Futures (trend-following)?
They can go long/short across commodities, rates, currencies, and equities, tending to zig when stocks/bonds zag and often delivering crisis alpha in stressed regimes.
8) Should we diversify beyond trend?
Yes—add global systematic macro / alternative risk premia (e.g., carry, value, momentum, quality, seasonality, mean-reversion) and long-vol/tail overlays to “diversify the diversifiers.”
9) Where do REITs fit?
Global REITs broaden the equity sleeve toward real assets and can improve inflation sensitivity with moderate correlation to broad stocks.
10) What’s the case for Market-Neutral equity?
It targets stock-selection alpha with near-zero net beta, delivering low-vol, low-correlation returns that complement both long-only assets and macro diversifiers.
11) Any room for a small “other alts” basket?
A measured 5–10% sleeve can include merger arbitrage, reinsurance, private credit/equity, bitcoin, or other niche alts—kept small to protect the core risk profile.
12) What might an enhanced 200% “RP+” look like in practice?
Illustrative mix: 40% trend, 30% global systematic macro/risk premia, 30% long Treasuries, 30% TIPS, 20% global MinVol equities, 20% gold, 10% REITs, 10% market-neutral, 10% diversified alts—aiming for returns > risk, high Sharpe/Sortino, and shallow max drawdowns (allocation sums reflect stacked exposures).
Nomadic Samuel Final Thoughts
Sorry, my friends for yet another behemoth of a post!
I hit you last time with 4000 words and now we're well over 3000 here.
To say I'm a fan of Risk Parity would be an understatement.
I feel it should be the "default" portfolio for investors of all shapes, sizes and (of course) stages of life.
With a return profile greater than its risk and a roll period that puts the 60/40 to shame, we ought to collectively be pondering what's going on here?
Risk Parity is the literal backbone of my own DIY quant portfolio.
The static long-only Risk Parity Portfolio has had impressive results for over 50 years.
However, as I think we've all seen in this article it can easily be upgraded.
Strategies that were once only available to high networth individuals and institutions are now available for the little guys (us plebs).
Failing to integrate these strategies into your portfolio seems like a lost opportunity and then some.
What's most exciting is that fund of funds ETFs and Mutual Funds are now available meaning you can cobble together a maximally diversified risk parity portfolio with as little as 4 tickers!
Wowzers!
So much diversification in just a handful of funds.
The crazy part is that I think it's only going to get better.
What an exciting time to be an investor.

#### 10 Ways Investors Can Improve The Ray Dalio All Weather Portfolio
When it comes to creating a portfolio that is prepared for all economic regimes, is it possible that investors can improve upon the Ray Dalio All Weather Portfolio?
Hmmm.
An even better umbrella to handle the rain in an all-weather scenario?
Now that would be a tall order.
In many ways the Ray Dalio All Weather Portfolio is the pinnacle of diversification - especially when compared to the classic 60/40 portfolio.
Firstly, it isn't nearly as risky as the balanced 60/40 portfolio given that its equity allocation is shaved down.
Secondly, it allocates a greater percentage of its portfolio to bonds in order to provide stability.
Thirdly, it has an alternative sleeve of gold and commodities protecting the portfolio from stagflation.

We're witnessing in real-time the Achilles heel of the 60/40 portfolio in 2022.
When stocks and bonds are no longer correlated the so-called Titanic suddenly starts sinking.
But beating the tar out of the milquetoast 60/40 folio is kind of low-hanging fruit, isn't it?
Indeed.
Let's get back on track here.
Can we improve upon the Ray Dalio All Weather Portfolio, in such a manner, that we can enhance returns and stabilize overall risk management and diversification?
I think so.
Here are 10 ways we're going to attempt it.
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

10 Ways to Improve the Ray Dalio All Weather Portfolio

All Weather Portfolio Introduction
Before we look at improving the Ray Dalio All Weather Portfolio let's first examine what it is in its original form.
The Ray Dalio All Weather Portfolio is a portfolio that moves beyond merely stocks and bonds with the addition of gold and commodities as an alternative sleeve.
The purpose of the portfolio is to perform in all economic environments as opposed to just inflationary boom and disinflationary boom regimes.
Relative to a 60/40, the all weather portfolio reduces its exposure to equities, increases its exposure to bonds and adds both commodities and gold in an attempt to balance its risk/reward profile in such a manner that it offers investors protection during inflationary stagnation and deflationary bust economic regimes.

Ray Dalio All Weather Portfolio Allocations
US Stock Market = 30%Long Term Treasury = 40%Intermediate Term Treasury = 15%Gold = 7.5%Commodities = 7.5%
With equities limited to just 30% and bonds making up 55% of the portfolio, the all-weather allocation is instantly more conservative than most other portfolios that are more aggressive with equities.
Uncorrelated asset classes of gold/commodities round out the portfolio with 7.5% slices each.
In my opinion, this all-weather portfolio is a diversification masterpiece, (relatively speaking) compared to what 90% of most investors have going for them.
The results of this portfolio in the picture perfect portfolio challenge (leveraged portfolios battle) at the 1X. 2X, 3X and 4X level speaks for itself.
It dominated.
This is a robust regime ready portfolio that can handle all economic conditions in addition to high amounts of leverage as well.
But that doesn't mean it can't be enhanced.
And so let's explore that now.

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
1) Add Global Equities To The All-Weather Portfolio
Maybe the most obvious place to start would be going from a US only equity allocation to diversifying globally.
In the past decade, investors who have gone global (as opposed to being US-centric), have by and large been frustrated with the results.
However, when considered through the lens of the early 2000s, diversification was the key ingredient that kept your equity sleeve above water.
The idea here isn't to pick which region of the world is going to be the winner over the coming years/decades but rather have it spread out so broadly as to not guess at all.
One of the most informative self-education moments throughout my journey as a DIY investor, has been to pick up vintage investing books that weren't recently published.
Open up an investing book published in the mid 90s and you'll likely find information on how investing abroad in the 70s would have prevented a lost decade.
If diversification is your only free lunch as an investor then avoiding to succumb to home country bias should be an absolute no brainer of an upgrade.
This is low hanging fruit my friends.
I'll gladly accept this "easy upgrade" by going from US centric equities to a globally diversified portfolio featuring both significant EAFE and Emerging market exposure.

2) Minimum Volatility Equities Upgrade To The All-Weather Portfolio
Can we further optimize our equity sleeve of our Ray Dalio inspired all-weather portfolio?
I believe so.
Let's explore factor optimization.
Given our mandate of creating an enhanced Ray Dalio All-Weather portfolio, we're specifically looking for ways to drive performance while smoothing out the ride.
What can help make the equity investing journey a little less bumpy?
Factors.
Specifically, defensive factors.
Yield.
Quality.
Minimum Volatility.
Amongst the three mentioned above, the most defensive of them all is minimum volatility.

From the time period of 1999 to 2020, Global market cap weighted equities had a standard deviation of 16, Yield scored 15, Quality hovered around 14 and World Minimum Volatility was a defensive stalwart coming in at 11.
Given our mandate of making the Ray Dalio All Weather Portfolio an enhanced version of itself, we'll take the 5 standard deviation points of risk improvement and say thank you very much.
Thus, at this point, we've now moved away from "home country bias" US only equities to global and we've upgraded from market-cap weighted to minimum volatility to bolster our defence.
Yummy.
So far.

3) Expand The Canvas Of The All-Weather Portfolio
Now that we've optimized our equites in two different ways, it's time to turn our attention to the rest of the portfolio.
What does an artist need to paint a beautiful picture?
A canvas.
Our canvas has been confined to 100%.
Let's change that right now.
We'll expand it to 200%.
But with the explicit caveat of not adding more of what we've already got in the portfolio.
No scooping extra mashed potatoes on top of the previous pile.
Instead we're going to use this extra space to add additional diversifying elements to the portfolio.
But before we do this let's examine why it's even a potentially good idea (or not) to add leverage to the Ray Dalio All Weather portfolio.
For that we'll need to jump over to the Battle of the Leverage Portfolios (Picture Perfect Portfolio Challenge) to see how the Ray Dalio All Weather Portfolio performed at each level:

Ray Dalio All Weather Portfolio in the Battle of the 2X Leverage Portfolios
3X Leverage portfolio performance for the Ray Dalio All Weather Folio (coming soon)
Wacky Ray Dalio All Weather in the 400% Leveraged Portfolio competition (coming soon)

Just as a heads up, the results are with GOLD taking up 100% of the COMMODITY sleeve given back-test data constraints from portfolio visualizer only going back to the mid 2000s with commodities.
Ray Dalio All-Weather Portfolio Performance 100%

Initial Balance: $10,000Final Balance: $520,019CAGR: 9.34%RISK: 7.94%Worst Year: -5.61%Sharpe Ratio: 0.63Sortino Ratio: 1.00
From 1978 until 2022 (March) a hypothetical $10,000 investment in the Ray Dalio All Weather Portfolio would have grown to $520,000.
With a CAGR of 9.34% it delivered an impressive 140 basis points outperformance over RISK at 7.94%.
Its worst year comes in at only -5.61% with a Sharpe Ratio of 0.63 and Sortino Ratio of 1.00.
Ray Dalio All-Weather Roll Period 100%

When we check out the Roll Period it is even more impressive.
The Ray Dalio All Weather Portfolio had only a low of 1 year at -11.59% with all sequence of returns being positive at a 3 year, 5 year, 7 year, 10 year and 15 year periods.

2X Ray Dalio All-Weather Portfolio Performance 200%

Initial Balance: $10,000Final Balance: $20,069,497CAGR: 18.75%RISK: 15.88%Worst Year: -11.07%Sharpe Ratio: 0.90Sortino Ratio: 1.55
What happens when we expand the Ray Dalio All Weather Portfolio from 100% to 200%?
In a word....
Magic.
The 2X Ray Dalio All-Weather portfolio really comes alive when a modest amount of leverage is applied.
Consider how a hypothetical backtest of $10,000 grows now to $20,069,497.
$520,000 at 1X canvas vs $20,069,497 at 2X.
Wowzers!
Moreover, the CAGR shoots up to 18.75% with a 287 basis points of outperformance versus RISK at 15.88%.
You'd think with double the leverage the Ray Dalio portfolio might fall apart a little in terms of its worst year performance.
Nope.
Just -11.07%.
Finally, it's Sharpe Ratio of 0.90 and Sortino Ratio of 1.55 are massive improvements over the 100% canvas level as well.
This is a portfolio that is Taylor-made for leverage.
It's time to lever up buttercup.
2X Ray Dalio All-Weather Roll Period 200%

4) Adding Uncorrelated Assets To The All Weather Portfolio
So we've decided to expand the canvas of the Ray Dalio All-Weather portfolio but what is it that we're going to add if we're not just doubling up its already existing asset classes?
Well, if we're beating the drum of diversification is your only free lunch we're going to run a marathon with that.
But the Ray Dalio All-Weather portfolio is already a diversification masterpiece, is it not?
Yes.
In many ways it is.
But we've still got various asset classes and multi-strategy enhancement opportunities.
Off the table is the following:

Global Minimum Volatility Equities
Long-Term Treasury
Intermediate Treasury
Gold
Commodities

So what could we add?
Long-short equities.
TIPs.
Managed Futures.
Merger Arbitrage.
These all come to mind.
Let's explore them individually.

5) TIPs Strategy To The All-Weather Portfolio
Let's first explore adding to the fixed income/bond sleeve of the Ray Dalio All Weather portfolio.
Since we've already got long-term and intermediate treasury securities we'll turn our attention towards something that is more prepared to safeguard our portfolio from inflation.
Enter the room TIPs.
In a nutshell, TIPs are treasury inflation protected securities, issued by the US government, that are designed to shield investors from declines in purchasing power by being indexed to inflation.

What jumps out to me immediately from an annual performance standpoint, when I compare TIPS with Intermediate Term Treasury and Long Term Treasury, are the years 2008 & 2009 and 2021 & 2022.
You'll notice uncorrelated performance in 2008 when TIPS were less defensive and much stronger recovery in 2009.
In more recent times, when inflation has been persistent and pesky, TIPS have done their job by being above water in 2021 and more relatively defensive in 2022.

While Long Term Treasury and Intermediate Treasury have a correlation of 0.86 adding TIPS to the mix provides an immediately clear diversification benefit.
TIPS correlation with Long Term Treasury is 0.63 and with Intermediate Term Treasury is 0.72.
This in my opinion is a considerable diversification upgrade in the fixed income sleeve of the portfolio.

6) Trend-Following To The All-Weather Portfolio
One of the most most glaring omissions from the Ray Dalio All-Weather portfolio is a total lack of managed futures exposure.
I wrote a detailed post about the benefits of trend-following and why it is not a more popular investing strategy.
Basically, being able to go both long/short commodities, currencies, equities and bonds from a broad range of global markets adds massive diversification to the portfolio given it is an uncorrelated strategy to both stocks and bonds.
Consider 2022 for example.
When both equities and bond markets from across the globe (have by and large) been down for the year, trend-following strategies have been thriving.
Why?
Because they adapt like a chameleon to whatever is going on in the markets in terms of short-term, medium-term and long-term signals.
When equity markets are down they say "yes" to that by shorting exposure.
When bonds are down they also say "yes" to that by shorting exposure.
One other clear benefit is that this strategy isn't nearly as volatile as Gold and Commodities allocations.
You don't have the at times annual -20% to -40% years of volatile drawdowns.
When I examine annualized data from SG Trend index I'm noticing a worst year of only -8.11% in 2018.
SG Trend Index Returns

What I'm most impressed with is the performance of this strategy during the early 2000s and 2008 in particular.
When equities are struggling (such as in 2022) trend-following provides significant fortification to the portfolio in terms of historical backtests.
Hence, adding a managed futures trend-following strategy to our enhanced Ray Dalio All-Weather Portfolio is quite honestly a no-brainer.

7) Market Neutral Investing Strategy To The All Weather Portfolio
A market neutral investing strategy is the most conservative of all the long-short equity strategies.
Its NET exposure is often far less than its long-short brother and active extensions sister.
It seeks to select stocks it thinks will relatively outperform while shorting those that it feels are either relatively overvalued or will potentially underperform.
Managers of a market neutral strategy are seeking to profit from both increasing and decreasing prices in the marketplace.

Consider the performance of Picton Mahoney, a Canadian alternative fund provider, with its long-short market neutral mandate.
A much higher sharpe ratio than its TSX benchmark (0.81 vs 0.40) and standard deviation of 4.71% versus 17.05%.
More importantly notice the difference in terms of annual returns.
Above water in 2008 at 2.12% when equities were down -33% and again in 2015 and 2018 when equities were below water.
Adding a market-neutral strategy to the portfolio should very well improve its overall diversification.

8) Merger Arbitrage Addition To The All Weather Portfolio
Let's add a merger arbitrage strategy to the portfolio.
I just finished interviewing Julian from Accelerate about merger arbitrage as an alternative investment strategy.
Please check it out.
Briefly, merger arbitrage is an event driven hedge fund strategy that purchases stocks of merging companies attempting to take advantage of market inefficiencies before (and/or after) a merger/acquisition.
Let's once again consult with Picton Mahoney as they've been delivering results from a merger arbitrage mandate for several years.

Check out that Sharpe Ratio of 1.17!
No negative years.
A 77.45% positive months success rate.
A standard deviation = 3.75%.
We're adding more stability/defensiveness to the portfolio with this unique strategy.

9) Mystery Asset Allocation To The All-Weather Portfolio
Here is the fun part.
I'm carving out a dedicated portion of the portfolio for you to add whatever you want.
That's right.
It's entirely a choose your own adventure sleeve.
When it comes to all of the potential options to consider for this totally flexible "mystery asset allocation" sleeve here are a few options that come to mind:

Private Equity
Managed Futures (Global Systematic strategies other than trend-following)
Crypto Currency
Active Extension Equities 130/30
NFTs
Art, Wine, Collectibles
REITs
Real Assets
Private Debt
Factor Optimized Equities (Value, Momentum, Quality, Size, Yield)
Reinsurance 

Personally, I'd probably choose a few of these at 2-3% slices but that's just me.
Whatever you'd do with this 10% is entirely subjective.
I believe investing should also be "fun" and not just a boring procedure, so this 10% might seem trivial but I'm hoping it provides a creative outlet for those who are curious about certain asset classes/strategies but never pursued them before.
Have a little bit of fun.
Life is short.

10) All Weather Tail Protection Addition
Let's slap a little insurance on this portfolio for those rare black swan events.
How can we do this?
By adding tail protection.
Tail risk arises when the portfolio (typically equities) moves three standard deviations from the mean.
It's a rare event.
But let's be prepared for it.
One of the easiest ways we can add insurance to the portfolio is by purchasing put options at various strike prices that trigger if/when a severe equity drawdown takes place.
Think 2008 levels.
We've got other elements in our portfolio that will be conspiring to keep our portfolio above water in this type of scenario but adding tail risk protection is just another way we can "diversify our diversifiers" as some folks in this industry love to say.

Enhanced Ray Dalio All Weather Portfolio
Now that we've made 10 different adjustments to potentially improve the Ray Dalio All Weather Portfolio what do we have as the final asset allocation?

New Ray Dalio All Weather Portfolio
30% Global Minimum Minimum Volatility Equities40% Long Term Treasury Bonds15% Intermediate Term Treasury Bonds7.5% Gold7.5% Commodities40% Managed Futures (Trend-Following)20% TIPS (Treasury Inflation Protected Securities)15% Market Neutral Equities10% Merger Arbitrage Strategy10% Wildcard (Crypto, NFTs, Reinsurance, Factor Equities, ETC. Whatever you want!)5% Tail Protection Strategy
That's quite a few enhancements!
To recap briefly the only thing we tinkered with in terms of the original Ray Dalio All Weather portfolio was ultimately going global with equities and choosing minimum volatility as our factor as opposed to market-cap weighting.
The rest of the "classic configuration" stays the same with 40% Long Term Treasury, 15% Intermediate Term Treasury, 7.5% Gold and 7.5% Commodities.
For the additional 100% layer we've added 40% Managed futures, 20% TIPS, 15% Market-Neutral Equities, 10% Merger Arbitrage, 10% Whatever You Want and 5% Tail Protection.
The primary goal of the expanded canvas was to add uniquely uncorrelated (or less correlated) multi-asset class strategies as additional layers of return streams while boosting overall portfolio diversification.
I'm happy with what we've been able to accomplish here.
In fact, it is quite similar to the All Weather Picture Perfect Portfolio I've designed.
I could easily ride this portfolio off into the sunset as I believe it'll provide a beautiful intersection of returns meets risk management.
But that's just my opinion.
I'm interested in yours.
Do you think this is an improvement over the original Ray Dalio All Weather Portfolio or would you have just left things the same?
Please let me know in the comment section below.
If you enjoyed this article I think you might also like "10 Ways Investors Can Improve A 60/40 Portfolio | Ultimate Enhanced 60/40 Portfolio With ETFs" where we expand the canvas to add alternative sources of returns in addition to what is classically provided with equities and bonds.
12-Question FAQ — 10 Ways Investors Can Improve the Ray Dalio All Weather Portfolio
1) What is the classic Ray Dalio All Weather Portfolio?
A rules-driven allocation aimed to work across economic regimes: 30% US stocks, 40% long-term Treasuries, 15% intermediate Treasuries, 7.5% gold, 7.5% commodities—tilting conservative vs. a 60/40 while adding inflation hedges.
2) Why try to “improve” an All Weather portfolio?
To maintain the all-regime intent while pursuing higher risk-adjusted returns and shallower drawdowns by expanding beyond long-only stocks/bonds/commodities and adding uncorrelated strategies.
3) What’s the first upgrade—global vs. US-only equities?
Swap the US-only sleeve for global equities to reduce home-country bias and capture diversification across EAFE and emerging markets without having to pick regional winners.
4) Why use Minimum Volatility (MinVol) for the equity sleeve?
MinVol historically delivers smoother rides (lower stdev) and better downside capture than market-cap weighting—aligned with All Weather’s goal of defensive resilience.
5) What does “expand the canvas” mean here?
Move from 100% to ~200% total exposure (return stacking/leverage)—not to double stocks/bonds, but to add new, uncorrelated return streams on top of the core without crowding out the base.
6) Which bond enhancement belongs first?
TIPS (Treasury Inflation-Protected Securities) complement long/intermediate Treasuries by directly indexing principal to inflation—helpful when inflation is persistent or surprise-positive.
7) Why add Managed Futures (trend-following)?
Managed futures can go long/short across commodities, rates, currencies, and equities; they’ve tended to zig when stocks/bonds zag, offering crisis alpha and regime adaptability.
8) What’s the role of Market-Neutral equity?
Market-neutral seeks stock-selection alpha with near-zero net market exposure, targeting low volatility and low correlation—an additional return stream that doesn’t rely on market beta.
9) How does Merger Arbitrage help?
Event-driven merger arb harvests deal spreads with historically low volatility and low equity beta, adding another differentiated source of return and drawdown buffer.
10) What’s the “Wildcard” sleeve for?
A ~10% sandbox to personalize the portfolio—e.g., crypto, reinsurance, real assets, private debt/equity, factor sleeves—kept small to preserve the portfolio’s core risk profile while letting investors express views.
11) Why include tail-risk protection?
Systematic put options/tail hedges can help during multi-sigma selloffs, complementing trend and diversifiers to further cap left-tail outcomes (with an expected carry cost in calm markets).
12) What does the enhanced allocation look like at a glance?
Core stays recognizable (now global MinVol equities + Treasuries + gold/commodities). The added 100% layer introduces managed futures, TIPS, market-neutral, merger arb, a wildcard sleeve, and tail hedging—all aimed at more diversification without over-relying on equities.

#### 20 Different 3 Fund Expanded Canvas Portfolios With 4+ Strategies
Sometimes it's a good idea to give yourself a creative challenge.
One of my biggest weaknesses as an investor, that I've tried my best not to spill over profusely onto this site, is that I'm inclined towards complexity.
I love keeping a messy room when it comes to my own personal portfolio.
In other words, I've got lots of funds under the hood.
Way more than the average investor.
In terms of constructive feedback, I've had investors tell me that my portfolio ideas (that tend to be somewhere between 5 to 10 funds on average) are often overly complicated.
Hence, I've given myself a fun challenge.

Can I come up with diversified model portfolios that are capital efficient using only three funds?
Here is my specific mandate:
Create a series of diversified portfolios that offer 4 or more strategies that are limited to just 3 funds.
At first, I thought I'd maybe only come up with 4 to 6.
However, I've got 20 to share with you today!
Yes, you heard that correctly.
20.
Furthermore, they all follow the guidelines and template of the Picture Perfect Portfolios 2.0 model portfolios:

Capital Efficiency
Maximum Diversification
Optimization

An attempt by an amateur investor to come up with serious portfolios with absolutely ridiculous names.
You'll notice they range from 140% to 200% canvas size and from ultra defensive (tactical equity exposure of 0% in defensive mode) to 100% equities plus diversifiers.
Moreover, each portfolio features a minimum of 4 strategies and a maximum of 9.
This challenge helped me to think more creatively and to tighten the reigns.
I was actually surprised that it's a cinch to put together a diversified portfolio with just 3 funds.
So without further ado, let's explore them!
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
20 Expanded Canvas Portfolios: 3 Funds / 4+ Strategies

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Perfect Pizza Portfolio
40% $RSSY - Return Stacked U.S. Equity & Futures Yield ETF (coming soon)40% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $GDMN - WisdomTree Efficient Gold Plus Gold Miners Strategy Fund
Canvas: 196%
Exposures:
40% Equities40% Carry (Futures)40% Managed Futures40% Bonds36% Gold Strategy (Gold exposure + Gold producing equities)
Strategies: 6
Objective: A capital efficient alternative to an equal slice Harry Browne Portfolio with extra diversifiers (managed futures & carry) instead of cash
Benchmark: Harry Browne Permanent Portfolio (25% VTI / 25% GLD / 25% TLT / 25% BIL)

Bounty Hunter Portfolio
40% $RSST - Return Stacked US Stocks & Managed Futures ETF40% $RSSB - Return Stacked Global Stocks & Bonds ETF20% $RSSY - Return Stacked U.S. Equity & Futures Yield ETF (coming soon)
Canvas: 200%
Exposures:
100% Equities40% Bonds40% Managed Futures20% Carry (Futures)
Strategies: 4
Objective: To outperform an all equity portfolio utilizing a diverse capital efficient ensemble of 100% alternatives added to the mix
Benchmark: 100% Equities (60% SPY + 40% VT)

Tightrope Walker Portfolio
40% $UPAR - UPAR Ultra Risk Parity ETF40% $BLNDX - Standpoint Multi-Asset Fund20% $QDSIX - AQR Diversifying Strategies Fund
Canvas: Variable
Exposures:
Global EquitiesBonds (including TIPs)Managed FuturesGoldMarket NeutralMacroStyle PremiaArbitrageMulti-Asset
Strategies: 9
Objective: As balanced and diverse of a portfolio that one could possibly assemble where maximum diversity is priority numero uno
Benchmark: None

The Chameleon Portfolio
50% $BLNDX - Standpoint Multi-Asset Fund25% $RDMIX - Rational/ReSolve Adaptive Asset Allocation Fund25% $QSPIX - AQR Style Premia Alternative Fund
Canvas: Variable
Exposures:
Global EquitiesManaged Futures (Trend)BondsGlobal Systematic MacroTail-RiskStyle Premia
Strategies: 6
Objective: An adaptive alternative to a global static risk parity portfolio where diversification reigns supreme
Benchmark: Global Risk Parity (50% $AGG / 30% $VT / 10% $GLD / 10% $DBC)

Coin It Portfolio
40% $GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund ETF36% $RSBT - Return Stacked Bonds & Managed Futures ETF24% $BTRN - Bitcoin Trend Strategy ET
Canvas: 168%
Exposures:
36% Equities36% Gold36% Managed Futures36% Bonds24% Bitcoin (Trend-Following)
Strategies: 5
Objective: A diversified and capital efficient balanced portfolio with a generous allocation budget and tilt towards Bitcoin
Benchmark: None

Value Vulture Portfolio
60% $AVGV - Avantis All Equity Markets Value ETF20% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $GOLY - Strategy Shares Gold-Hedged Bond ETF
Canvas: 140%
Exposures:
60% Global Value Equities40% Bonds20% Managed Futures20% Gold
Strategies: 4
Objective: A balanced take on a global value tilted portfolio with three additional strategies added to the mix (bonds, managed futures, gold)
Benchmark: Global 60/40 (60% VT / 40% AGG)

Pack Mule Portfolio (60/40+)
40% $RSSB - Return Stacked Global Stocks & Bonds ETF20% $RSST - Return Stacked US Stocks & Managed Futures ETF40% $QDSIX - AQR Style Premia Alternative Fund
Canvas: 160%
Exposures:
60% Equities40% Bonds20% Managed Futures40% Alt-Other:Market NeutralMacroStyle PremiaArbitrageMulti-Asset
Strategies: 8
Objective: To pack mule a diverse set of alternatives to the backbone of a 60/40 portfolio
Benchmark: 60/40 Portfolio (VBIAX and AOR)

Even-Steven Portfolio
50% $ACWV - iShares MSCI Global Min Vol Factor ETF25% $RSBT - Return Stacked Bonds & Managed Futures ETF25% $GOLY - Strategy Shares Gold-Hedged Bond ETF
Canvas: 140%
Exposures:
50% Global Min Vol Equities50% Bonds25% Managed Futures25% Gold
Strategies: 4
Objective: Equal Parts Equities (50%), Bonds (50%) and Alternatives (50%) for a balanced defensive approach.
Benchmark: 50% VT / 50% AGG

So Trendy Portfolio
50% $BLNDX - Standpoint Multi-Asset Fund30% $GMOM - Cambria Global Momentum ETF20% $COM - Direxion Auspice Broad Commodity Strategy ETF
Canvas: Variable
Exposures:
Global Equities (MCW + factors)Managed FuturesBondsCommodities (long + long/flat)
Strategies: 4
Objective: A pure trend portfolio (long, long-flat and long-short strategies) with exposure to a diverse range of global asset classes
Benchmark: AOK and AOR

Quantasaurus Portfolio
40% $SPQ - Simplify US Equity PLUS QIS ETF40% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund ETF
Canvas: 176%
Exposures:
58% Equities40% Bonds40% Managed Futures20% QIS Multi-Strategy18% Gold
Strategies: 5
Objective: An alternative tilted portfolio where 78% of the portfolio exposure is committed to strategies other than long-stocks and bonds
Benchmark: None

Living Large L/S Portfolio
40% $RSST - Return Stacked US Stocks & Managed Futures ETF40% $QLEIX - AQR Long-Short Equity Fund20% $QSPIX - AQR Style Premia Alternative Fund
Canvas: 140%
Exposures:
40% Equities40% Long-Short Equities40% Managed Futures20% Style Premia
Strategies: 4
Objective: A portfolio where every fund has exposure to L/S strategies across a diverse range of asset classes.
Benchmark: None

The Sloth Portfolio
35% $GDE – WisdomTree Efficient Gold Plus Equity Fund35% $RSBT – Return Stacked Bonds & Managed Futures ETF30% $CAOS – Alpha Architect Tail Risk ETF
Canvas: 163%
Exposures:
31.5% Equities31.5% Gold35% Bonds35% Managed Futures (Trend)30% Tail Risk: OTM Put
Strategies: 5
Objective: A Dragon-inspired portfolio with a slow and steady approach to accumulation whilst defensively being prepared for all economic scenarios
Benchmark: None

Factorious Portfolio
60% $GLOF - iShares Global Equity Factor ETF20% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $RSBY - Return Stacked Bonds & Futures Yield ETF (coming soon)
Canvas: 140%
Exposures:
60% Global Multi-Factor Equities40% Bonds20% Managed Futures (Trend)20% Carry (Futures)
Strategies: 4
Objective: A factor first approach to asset allocation where a multi-strategy approach is favoured over MCW equities.
Benchmark: 60% VT / 40% AGG

Creative Canvas Portfolio
60% $RSST - Return Stacked US Stocks & Managed Futures ETF20% $GOLY - Strategy Shares Gold-Hedged Bond ETF20% $RSBY - Return Stacked Bonds & Futures Yield ETF (coming soon)
Canvas: 200%
Exposures:
60% Equities60% Managed Futures40% Bonds20% Gold20% Carry
Strategies: 5
Objective: To expand the canvas to 200% with a balanced 60/40 portfolio plus diversifiers
Benchmark: 60/40 Portfolio ($VBIAX)

The Coward Portfolio
20% $HCMT - Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF40% $RSBT - Return Stacked Bonds & Managed Futures ETF40% $GOLY - Strategy Shares Gold-Hedged Bond ETF
Canvas: 200% or 180%
Exposures:
Offensive:
40% Equities80% Bonds40% Managed Futures40% Gold
Defensive:
0% Equities80% Bonds40% Managed Futures40% Gold20% Cash
Strategies: 4 of 5
Objective: A portfolio that has the ability to retreat to 0% equity exposure (hence the nickname 'coward') during market downturn scenarios
Benchmark: 20/80 Portfolio (20% $VTI / 80% $AGG)

Double Double Eh Portfolio
60% $AOFT - Auspice One Fund Trust30% $PFAA.TO - Picton Mahoney Fortified Alpha Alternative Fund10% $QBTL.TO - AGF US Market Neutral Anti-Beta CAD-Hedged ETF
Canvas: Variable
Exposures:
Global EquitiesManaged Futures (Trend)BondsGoldM/N EquityArbitrageSpecial Situation CreditStyle Premia
Strategies: 8
Objective: An alternative strategy for Canadians to consider who are seeking maximum diversification above all other considerations
Benchmark: Global Balanced (VBAL.TO ETF)

Ultimate Defender Portfolio
40% $ACWV - iShares MSCI Global Min Vol Factor ETF50% $RSBT - Return Stacked Bonds & Managed Futures ETF10% $CAOS - Alpha Architect Tail Risk ETF
Canvas: 150%
Exposures:
40% Global Min Vol Equities50% Bonds50% Managed Futures10% OTM PUT
Strategies: 4
Objective: To overall limit exposure to equities (40%) and to choose the most defensive stocks strategy (min vol) to stabilize the portfolio
Benchmark: 40/60 Portfolio (40% VT / 60% AGG)

Tactical Tornado Portfolio
40% $RSSY - Return Stacked U.S. Equity & Futures Yield ETF (coming soon)40% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $HCMT - Direxion HCM Tactical Enhanced U.S. Equity Strategy ETF
Canvas: 200% or 180%
Exposures:
Offensive:
80% Equities40% Managed Futures40% Bonds40% Carry (Futures)
Defensive:
40% Equities40% Managed Futures40% Bonds40% Cary (Futures)20% Cash
Strategies: 4 or 5
Objective: A portfolio that is balanced but has an offensive boost towards growth (80%) or tactically retreats to conservative (40%) equity exposure
Benchmark: None

Tortoise Portfolio
20% $USML - ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN60% $RSBT - Return Stacked Bonds & Managed Futures ETF20% $BTAL - AGF US Market Neutral Anti Beta Fund
Canvas: 180%
Exposures:
60% Bonds60% Managed Futures40% US Min Vol Equities20% M/N Anti-Beta
Strategies: 4
Objective: A portfolio that is designed for slow and steady accumulation with the potential to retreat into its shell during market turbulence
Benchmark: 40/60 Portfolio (40% $VTI / 60% $AGG)

Alt Arrow Portfolio
40% $RSSB - Return Stacked Global Stocks & Bonds ETF20% $QLEIX - AQR Long-Short Equity Fund40% $QDSIX - AQR Diversifying Strategies Fund
Canvas: 140%
Exposures:
40% Global Equities40% Bonds40% Alt Other20% L/S EquitiesMarket NeutralMacroStyle PremiaArbitrageMulti-Asset
Strategies: 9
Objective: A portfolio where alternative strategies take up 60% of the resources in terms of asset allocation with only 40% to stocks/bonds.
Benchmark: None
Bonus Portfolios
Here are some bonus portfolios from other friends and acquaintances on FinTwit.
I love receiving contributions from others as it almost always opens my eyes to new possibilities.

Triforce Portfolio
Creator: @game_book_life
Backtest:
https://x.com/game_book_life/status/1773768852821684721
36.5% $RSST - Return Stacked US Stocks & Managed Futures ETF27% $NTSI - WisdomTree International Efficient Core Fund36.5% $QSPIX - AQR Style Premia Alternative Fund
Canvas: 186.5%
Exposures:
60.8% Equities (60/40 US/exUS)36.5% Managed Futures16.2% Bonds73% Style Premia
Strategies: 4
Objective: An alternative to a global 60/40 portfolio that avoids home country bias (with Int-Developed equities) whilst committing significant resources to style premia and managed futures
Benchmark: Global 60/40 (60% $VT / 40% VBTLX)
3-Fund, 4+-Strategy Portfolios: Your Expanded-Canvas FAQ
1) What is a “3-fund expanded canvas” portfolio?
It’s a capital-efficient portfolio built from only three tickers that collectively deliver exposure to four or more return drivers (e.g., equities, bonds, managed futures, gold, carry, style premia). By stacking exposures inside each fund (e.g., 90/60, 100/100), you expand total “canvas” beyond 100% while keeping the lineup simple.
2) How do you measure the “canvas size” (e.g., 140%–200%)?
Canvas size approximates the portfolio’s summed gross exposures. For example, a 40% position in a 100/100 fund contributes ~40% equity + ~40% bonds. Add up all stacked sleeves across the three funds; totals above 100% indicate an expanded canvas that frees room for diversifiers without sacrificing core assets.
3) Why limit the build to only three funds?
Three funds force discipline. You capture meaningful diversification (4–9 strategies) with minimal operational complexity, fewer rebalance legs, lower trading friction, and cleaner risk oversight—yet still benefit from stacked, uncorrelated sleeves.
4) Which return drivers show up most across the 20 models?
The common quartet is global equities, bonds, managed futures (trend), and gold. Many models also layer carry, market-neutral/anti-beta, style premia, macro, long/short equity, options/tail-risk, and selective bitcoin trend exposure for asymmetric shock protection or convexity.
5) How do these models balance offense and defense?
Offense comes from equities (sometimes factor-tilted) and carry/style premia; defense is delivered by managed futures, gold, market-neutral, and optional tail-risk. Several portfolios have tactical sleeves that can dial equity from full throttle to near-zero during downtrends.
6) What distinguishes “defensive” vs “offensive” 3-fund builds?
Defensive variants bias to min-vol equities, larger bond and trend sleeves, gold, and optional puts—aiming for shallow drawdowns. Offensive versions tilt toward higher equity weight, equity-plus overlays, and return-enhancing alts while still retaining diversifiers that historically shine in stress.
7) How do carry and style-premia fit in a 3-fund mix?
Carry (e.g., futures yield) and multi-premia/style strategies diversify beyond pure beta and trend. They often have low correlation to both stocks and bonds, offering smoother returns between equity cycles and complementing crisis-alpha from managed futures.
8) Can a 3-fund build rival a classic 60/40?
Yes. Several lineups recreate or surpass 60/40 risk/return by return-stacking: one fund supplies equity+bond beta, while the other two introduce trend, gold, and premia. The idea is 60/40 plus—keeping the core engine while adding uncorrelated sleeves for better Sharpe and smaller max drawdowns.
9) How should I think about rebalancing with stacked funds?
Use calendar (e.g., quarterly/semiannual) or band-based rules (e.g., ±20% of target sleeve weights). Because stacked funds move multiple sleeves at once, keep rebalancing simple and avoid over-trading; let the embedded strategies (trend/tactical) do some of the heavy lifting.
10) What risks should I monitor in expanded-canvas builds?
Watch leverage mechanics, derivative collateral, bond duration mix, concentration, tracking difference, and liquidity/spreads. Ensure each fund’s process is transparent, capacity-aware, and consistent with your risk budget—especially when total canvas approaches 180–200%.
11) How do I choose among the 20 models?
Rank by your priorities: drawdown tolerance, equity target, strategy count, and simplicity. If defense is paramount, prefer min-vol/anti-beta + trend + gold. If growth is key, favor equity-plus overlays with complementary managed futures and premia. Match exposures to your time horizon and behavior.
12) Are these meant to be copied as-is?
No—treat them as templates. The tickers illustrate how to stack exposures; your final mix should reflect personal objectives, tax location, account type, and product access. The win is learning how to get 4–9 distinct strategies from only three funds while keeping the portfolio manageable.
Nomadic Samuel Final Thoughts
Whew, thanks for making it through all 20 portfolios!
I hope I didn't overwhelm you with options galore.
Sometimes going to a behemoth supermarket can make me feel anxious as I'm overwhelmed by choices.
However, I wanted to present as many different portfolio options as possible to explore all of the interesting combinations out there.
These, at the end of the day, are just ideas.
I'm of the firm opinion that it's not a wise idea to just copy any of these portfolios; instead put your personal stamp of approval by coming up with something that makes sense for you.
With all that said, there has never been a better time IMO to be a capital efficient DIY investor.
You have so many options these days as fascinating puzzles pieces continue to penetrate the marketplace.
But at this point in the article I'm more interested in what you've got to say.
What are some three fund portfolio ideas that you've come up with?

#### 5 Reasons Why I'm Not A Bogleheads Investor And Never Will Be
At some point in your investing journey you'll likely encounter a group that is the literal antithesis of what you stand for as an investor.
For me that investing group is The Bogleheads.
They're the opposite of me in more or less every manner possible under the sun, moon and stars above.
I don't believe in market-cap weighted equity exposure as if it was pancakes drowning in maple syrup on a Sunday morning.
I'm not slavishly obsessed with fees. I'd rather have dessert than collect crumbs under the table.
I don't believe in being average.
I'm not keen to stay in my lane.
I'm not interested in commandments and rules.
I'm contrarian by nature and a sponge investor at heart.
I'm not overly predictable and willing to tow the party line - espousing talking points that have been refuted at large.

Also, I'm curious enough to have studied alternative investment strategies and equity optimization to the point where I've put in the necessary work (with regards to back-tests) to see firsthand that portfolios composed of market-cap weighted equities and aggregate bonds are not sufficiently diversified and all-weather regime prepared.
Last but not least, I'm not seeking affiliation as an investor and I'm not interested in going down a narrow tunnel where I'll be making myself prone to confirmation bias.
Also, and by the way most importantly, I'm not interested in doing what everyone else is doing in life or with my investment portfolio.
Had I done that in my life, I wouldn't have met my wife (a fellow travel media personality), wouldn't have taught English in South Korea, wouldn't have travelled the world to visit 75 different countries and wouldn't be currently working on exciting new projects (this blog) and something I'm doing in Argentina at the moment.
I'd be living on the small-island I grew up on in British Columbia. I'd be working a nine to five. I'd be not living out my personal legend during this brief time I've got on this planet.
This is a longer intro than normal but I had quite a bit to get off of my chest!
Before I inform you of the 5 reasons why I'm not a Bogleheads investor, let's first define what one is.

Why I Am Not A Boglehead
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Who Are The Bogleheads

They're a group of 90,000 registered members that honor Vanguard founder and late investor John Bogle.
John Bogle, unlike his followers today, was a contrarian and maverick in the sense he was the creator of the index fund.
Having to endure criticism and scorn, during the early days of its creation, was something John faced during indexings early years.
The index fund in many ways changed the investment landscape for the better.
Bad active management and high fees were the options being served to investors in terms of typical funds for most of the 20th century.
Indexing changed all of that. And for the better.
However, owning market-cap weighted stocks and aggregate bonds, although potentially geographically diverse (if one goes global and doesn't succumb to home country bias) is anything but strategically or stylistically diverse.
It's pure and simple market-beta.
Research has show that optimization of equities and alternative investments make portfolios more robust, resilient and regime ready for whatever economic regime is thrown its way.
Instead of recognizing that further research has advanced portfolio strategies, since the days of John Bogle's revolutionary achievements, investors that adhere to his philosophy today have portfolios that are less than optimal.

What Do The Bogleheads Believe

The Bogleheads believe in the following 11 core principles under "prepare to invest" plus "create a portfolio" and "maintain discipline".
1) Live below your means2) Develop a workable plan3) Never bear too much or too little risk4) Invest early and often 5) Diversify6) Invest with simplicity7) Use index funds when possible8) Minimize costs9) Minimize taxes10) Never try to time the market11) Stay the course

I agree with most of these.
In fact, it is only points 5, 6, 7 and 8 where I don't see eye to eye.
Let's now explore the reasons I'm not a member of the Bogleheads, never have been a member of the Bogleheads and never will be a member of the Bogleheads.

Top 5 Reasons I'm Not A Bogleheads Investor

1) Simplicity vs Complexity
One click and done. All in one. Simple indexing.
Stocks. Bonds.
This all sounds great until a scenario such as the 70s, early 2000s, 2008 and 2022 rears its ugly head.
How does a simple strategy of merely market-cap weighted stocks and bonds perform under those scenarios.
Terrible.
The idea of simplifying your life is a powerful and strong message.
It makes sense in a lot of ways.
But in terms of investing, it leaves you prone to significant drawdowns when stocks are getting hammered in the markets and bonds are not providing (as much or way too little) defensive coverage.
What is missing?
A 1-2-3 approach to diversification.
Let's explore that below.

2) Lack of Strategic Diversification
When I started working on my Picture Perfect Portfolio design, I did so from a bottoms up approach.
I was genuinely curious to see what would enhance returns and provide significant downside protection.
What I found was that I needed to expand the canvas from 100% to something greater.
I then started plugging in equal parts equities, bonds and alternatives and magic started to happen.
I could build a portfolio that achieved significantly higher returns while managing risk better than the industry standard 60/40.
The "secret sauce" was alternative investments and a multi-strategy and multi-asset class approach.
When I back-tested results, by just owning market-cap weighted stocks and aggregate bonds I would both underperform and have significantly more negative years.
By merely shaving down a small amount of equities and bonds and adding an alternative, such as gold, I would greatly improve the results, risk, sortino, sharpe, maximum drawdown, worst year and overall success ratio of my portfolio.
Just by doing one thing alone. Thinking outside of the box.
Being open to new ideas.
Embracing alternatives.
That is all it took to enhance returns and manage risk.
And gold is not anywhere close to being the best alternative strategy in my opinion.
It is far too volatile.
For instance, managed futures provides better risk-adjusted uncorrelated returns.
Adding TIPS in the bond category smoothed out my portfolio and made it more inflation regime ready.
By adding uncorrelated assets and adhering to an equal parts equity, bonds and alternative sleeve I obtained, what for me, is the Picture Perfect Portfolio.

3) Factor Investing and Market Cap Size Exposure
I've now written three different articles on the benefits of optimizing equity strategies using a multi-factor rules based approach, considering mid-cap investing in your portfolio and avoiding a large-cap centric portfolio unless you're interested in finishing in last place.
The benefits of having exposure to mid-cap, small-cap and micro-cap equities includes enhanced potential returns and no lost decades over the past 50 years.
With large-cap centric portfolios being prone to investor exuberance, high forward P/E concentration and narrative based investing it makes sense to hang-out in territory where the road is less travelled.
Moreover, equity factor strategies provide exposure to uncorrelated strategies that perform well and struggle under various economic regimes.
For instance minimum volatility, yield and quality strategies are more defensive than market-cap weighted equities.
Pro-cyclical strategies such as deep value investing and size exposure can perform relatively well when market-cap beta is struggling.
Consider how well value is doing this year versus broad markets?
By including numerous factor strategies in your portfolio you'll ensure that you'll always have 'something' in your portfolio that relatively thrives.
This also means you'll have strategies that underperform.
That is what diversification looks like.
Not putting all of your risk in market-beta.
Having opportunities to contribute "buy low" when strategies are underperforming while riding recent winners that are doing great.

4) Being Mediocre = Play It Safe "Own Them All"
Out of all the things that irk me about the philosophy of The Bogleheads group it is the message of being mediocre.
Be average. Own them all.
Own them all?
Why would anyone want to do that?
Think about any other endeavor you pursue in life.
Imagine yourself as the manager of a professional sports team.
Would you want to own the average players in the league?
If so, you'd be comfortable finishing in the middle of the pack, missing the playoffs and alienating your fan base over time.
It is through the process of 'selection' and 'exclusion' that you come up with something optimal.
For instance, my Picture Perfect Portfolio has been able to achieve such phenomenal backtests because of what it owns and what it doesn't own.
Minimum volatility equities, for instance, screen out the most volatile companies and seek the most stable ones.
This strategy in the past 20 years has proven to be at times 1000 basis points more defensive than "owning them all" in a market-cap weighted strategy.

5) Slavish Fee Obsession
Honestly who doesn't love a bargain? Wouldn't we all want to pay less for something?
Yes. But not if it means owning an inferior product.
Also, not if it excludes certain uncorrelated investing strategies that improve diversification and portfolio stability just because they inherently have higher costs such as trend-following.
Would I be willing to pay a few more basis points for a more sophisticated multi-factor equity strategy that has proven to outperform over long periods of time by 150 to 300 basis points?
Most definitely.
In some ways this slavish fee obsession seems akin to fighting over crumbs under the table when dessert is being served up above to other guests sitting patiently.
Nomadic Samuel traveling in Peru with a camera in hand
Final Thoughts From Nomadic Samuel
At the end of the day I'm a Sponge Investor and not a Bogleheads Investor.
Although there is plenty I respect about the Bogleheads there is equally as many things I'll never be in full agreement over.
I'm highly cognizant of what being a part of a group does in terms of influencing your openness to new ideas and research.
Thus, I'm not looking to ever be a hardcore value investor, a Bogleheads investor or part of any other type of investing group.
I'm a free-agent that is perpetually seeking to improve the performance, diversification and risk-management of my portfolio.
I wish all investors well and to be perfectly honest if you focus on your patience, time, discipline, diversification and strategy of your portfolio you'll likely achieve all of your investing goals.
However, at the end of the day I'm pursuing the picture perfect portfolio and being a part of the Bogleheads group would be detrimental to that process.
So best of luck Bogleheads but I'm off on my own investing journey.
Ciao for now.
5 Reasons Why I’m Not A Bogleheads Investor — 12-Question FAQ (Philosophy, Portfolio Design, and Trade-offs)
What is the Bogleheads philosophy in one sentence?
Keep costs low, own broad market-cap-weighted index funds, keep taxes low, stay the course, and avoid market timing or complexity.
Why do you disagree with “own the market” simplicity?
Simplicity can mask concentrated risk in market beta and a reliance on stock/bond negative correlation. It may work in benign regimes, but it’s less prepared for inflation shocks or correlation spikes.
What’s your main diversification critique of classic Boglehead portfolios?
They diversify geographically but not strategically. Adding alternatives (e.g., managed futures/trend, commodities, gold) and factor tilts can broaden return drivers and reduce reliance on one regime.
How do factor strategies improve on cap-weight?
Rules-based tilts (value, quality, momentum, min-vol, size) can disperse risk across behaviors and balance sheets, offering different payoff profiles across cycles versus a mega-cap-heavy cap-weighted index.
Isn’t paying higher fees always worse?
Fees matter, but net outcomes matter more. If a well-designed multi-factor or alternative sleeve improves risk-adjusted returns and drawdown control, a few extra basis points can be rational.
When can Boglehead simplicity actually be a good choice?
For investors prioritizing behavioral ease, ultra-low cost, minimal oversight, and long horizons, a simple allocation can be perfectly serviceable—provided they accept large equity-driven drawdowns.
What do you mean by “expand the canvas” beyond 100%?
Using capital-efficient or embedded-leverage funds judiciously lets you hold more diversifiers without sacrificing equity exposure, potentially targeting equity-like returns with smoother risk.
How do you avoid “diworsification” while adding sleeves?
Set clear objectives, test correlations and factor overlap, size positions with risk budgets, and require each sleeve to contribute a distinct role (return, ballast, crisis alpha, inflation hedge).
What role do bonds play if stocks and bonds can fall together?
Bonds still hedge growth shocks and recessions, but add inflation-aware bonds (e.g., TIPS) and trend/commodities to address inflationary or supply-shock regimes where bonds struggle.
How should a non-Boglehead portfolio be rebalanced?
Use bands (e.g., 20% relative or 2–5% absolute), calendar checks (semi-annual/annual), and drawdown playbooks (pre-planned actions at −10/−20/−30%) to keep decisions systematic, not emotional.
What are the biggest behavioral risks in either approach?
Recency bias, overconfidence, performance-chasing, and loss aversion. Simplicity helps some stick to a plan; complexity helps others prepare for regimes—both fail without discipline.
If someone wants to evolve beyond pure Boglehead, where to start?
Keep a low-cost core, then add one or two evidence-based sleeves: a multi-factor equity fund and a trend/managed-futures sleeve. Monitor correlations, costs, taxes, and your own behavior.

#### Any Investor Can Ignore Your Best Advice And Be Wildly Successful
Any investor can ignore your best advice and be wildly successful in achieving all of their personal goals including the ultimate one of total financial freedom.
I don't care if you're a professional with decades of experience, an amateur with an unworldly track-record or if you believe you've got the most sophisticated portfolio ever invented.
Somebody else can totally ignore what it is you're doing and/or just flat out reject what you consider to be your bread and butter skillset, and be successful by doing the exact opposite.
Ouch.
That's gotta sting a little.
But before you think of all of the reasons why I might be wrong consider the following few examples.
For every investor out there that has achieved financial freedom with a 60/40 portfolio there is somebody else that has done so with just a handful of "blue chip" stocks that have been patiently held and compounding for generations.
For those who suggest you've got to spread out and diversify globally you'll find somebody who has achieved financial freedom by succumbing exclusively to home country bias.
And I'm not just referring to US based investors buying only US listed ETFs/stocks.
I'm talking about Swedish investors who own only Swedish stocks or Canadian investors buying exclusively Canadian equities.
Now at this point you're likely chomping at the bit to tell me why that's risky, doltish or flat out an inferior way to compound.
Look.
I hear you.
And you're probably right.
There likely are better ways to compound from a risk meets returns standpoint.
Heck, even from a sequence of returns point of view.
Surely, some of these "strange portfolios" could be enhanced or improved by doing a little bit (or a whole lot) of this and that.
Yet, if you're going down that route you're missing the point I'm trying to make.
Despite all of that you'll find folks who have done something that you find utterly cretinous yet it's allowed them to reach all of their financial goals whatever they may be.

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Examples From My Career As A Travel Media Specialist
When I first started my travel media network in the early 2010s I wasn't quite an OG but the industry as a whole was certainly very much in its infancy.
Those with more experience were trotting out advice like it was the Kentucky Derby.
"Content is King."
If it's not informative people won't read it.
"Publish X amount of times per week and be as active as possible on platform A, B and C."
Indeed, some of the advice being shared allowed certain travel professionals to grow from amateurs to professionals.
Yet, I also noticed that there were those who ignored almost all of the general consensus wisdom of best practices while achieving wild success.
Some had contrarian personalities and covered niches that had yet to be written about where they built a loyal audience.
When I switched over to creating YouTube videos I noticed this more and more.
The most popular genre at the time was daily vlogging and almost everybody was hopping on that gravy train for a while.
Fast forward a few years later and most of the daily vloggers had either quit, burnt out or alienated their fanbase.
Although some found success making this style of video, many other creators went in a completely different direction creating pillar content that required multiple days of filming and editing to polish things off.
Instead of putting out content daily they'd release a video once a week, once every two weeks or even once a month.
"You've got to let your personality shine through in order to attract an audience."
Most believe this and yet I can think of numerous examples where a channel has blown up by releasing videos where it is b-roll only with no speaking at all.
"Spread out and don't put your eggs all in one basket."
That advice has resonated with certain channels and yet others have become highly specialized niche experts going deep on only one particular subject.
You need to have punchy saturated colours, quick transitions and b-roll clips not extending beyond 3 seconds and yet some creators eschew this counsel by merely pointing the camera at their face and doing an entire monologue in just one clip.
In other words, there are many ways to become successful as a travel media specialist just as there are numerous paths to becoming a prosperous investor.

My Best Advice: Expand the Canvas and Maximally Diversify
If I had to boil down what I feel is my "best advice" to pass on to fellow investors it would be to expand the canvas of your portfolio and diversify maximally beyond merely various stock/bond combinations.
I'd suggest adding capital efficient products such as $UPAR, $GDE, $BLNDX and $NFDIX and using the "extra space" that these funds create in your portfolios to further diversify into strategies such as global systematic managed futures, trend-following, long volatility options, long-short equity, market-neutral, merger-arbitrage, absolute return fixed income, real assets, gold, bitcoin and others.
It would be paramount to insist upon a globally diversified portfolio spread out between US equities, International Developed and Emerging Markets.
Furthermore, I'd want to find out your financial goals, risk tolerance and stage in your life/investing cycle to ensure that the portfolio is constructed in an optimal manner that manages risk first while offering potentially great returns second.
For example, if you've achieved financial freedom, have a bit of a weak chin and a reasonable burn-rate it might make sense to skew the portfolio more towards defensive assets and strategies such as managed futures, tail-risk options puts, absolute return fixed income and market-neutral equities.
Irregardless, what is eventually your customized portfolio needs to have an IPS (Investment Statement Policy) with a zoom-out, chill-out and let it be clause clearly stated.
There you have it.
That's my best advice.
Now go ahead and literally ignore all of it and you can still find ways to succeed as an investor.
What would be the exact opposite of my approach?
Eschewing diversification.
Rejecting going global.
Only focusing on one asset class and strategy.
Trading and making portfolio moves without any rules based decisions.
Not rebalancing.
Market-cap weighting over research supported factor strategies.
Ignoring trend and being entirely static.
Discretionary over systematic.
Yep.
I'd want to puke.
Yet this might be what is best for you.
This might be what allows you to stay the course and achieve your wildest dreams.
And who am I (or anybody else) to get in the way of that.

All Of The Potential Portfolios Out There
When you think about it there are all kinds of mainstream and oddball ways to compound wealth out there.
Here are some that come to mind.
Stocks For The Long Run (equity only investing strategies whether they be Index or Factor ETFs or individual stocks)
Ferocious Fixed Income (a portfolio composed entirely of fixed income instruments)
Equity/Bond Mix and Matchers (a portfolio with 80/20, 60/40, 40/60 or 20/80 combinations of stocks and fixed income that tickles your risk tolerance fancy)
Long-only Risk Parity, Harry Browne Permanent Portfolio or Ray Dalio All-Weather (portfolios that add an "alternative sleeve" to the mix and also cap equity exposure)
Gregarious Gold Bugs (for those who just can't get enough gold in their portfolio to the point of outshining other asset classes)
Adaptive Asset Allocators (the types of portfolios that have the ability to adapt by going long/short/flat any asset class they choose via a myriad of different futures strategies)
Hedgehog Defenders (a portfolio that is hedged by absolute return strategies across all asset classes that often features portfolio insurance as part of the equation)
Laser Eyed Crypto Comrades (for those pursuing exclusively digital assets while rejecting everything else as being old school)
Twitchy Finger Traders (discretionary managers who trade stocks, bonds, futures, options based upon macro opinions they've formed)
Observant Options Operators (specialists who trade options in a variety of different ways)
Of course I could go on and on and on but this offers a general mix of what most investors may be pursing out there.

Examining Stocks For The Long Run
I think one of the most interesting "single strategies" that we could unpack is a stocks for the long run approach where you're 100% invested in equities only.
Isn't that risky?
Sure.
Your portfolio can be sliced in half (or more) under the right scenario when a bear market rears its ugly head.
For individual stock selectors you have the additional risk of the security you've invested in going belly up as a business with the consequences of losing it all.
Yet, if you do your homework and pick wide moat companies you're likely going to be holding something more stable than fringe companies that pop in and out of indexes.
If you're committed to the strategy for decades on end it'll likely work out just fine.
Maybe you've over-saved, have a low burn-rate or an emergency fund that covers you during times of market turmoil.
There is someone out there that owns only McDonald's stock that is wealthy beyond your wildest imagination and living financially independent from dividends only.
There is another person who invests only in the S&P 500 and chills out whereas some savvy individual is trading only micro-cap stocks.
You've got globally diversified factor investors, value vultures, low volatility linchpins and mid-cap mavens all compounding their way to financial self-reliance.
Your best advice might be to avoid all high P/E stocks at all cost and yet there are growth investors who gobble those up.
Diversify globally and do no succumb to home country bias and yet we've got investors out there with less stocks than you can count on your fingers fully invested in home country equities only thriving with that particular strategy.
Although I haven't met them yet there is somebody out there that only invests broadly in Emerging Markets or in specific regions such as Latin America only.
You'll find somebody using top-down strategies and analysis whereas others build their portfolios from a bottoms up approach.
Technical analysis versus fundamental analysis.
One investor is an expert at one while eschewing the other whereas some investors combine both.
Multi-factor versus single factor.
Barbell strategies versus high conviction singular approaches.
Minimum volatility over momentum.
You name it and someone out there is pursuing it profitably.

Investing Style That Matches Your Personality
Finding an investing style/strategy that matches you personality is crucial.
If you're the type of person that likes to tinker, you're going to struggle with a buy and hold approach while potentially flourishing as a tactical manager.
If you're someone who can sit through a bear market and not obsessively check your portfolio you'll likely thrive with a portfolio that involves permanent allocations.
Some investors prefer simplicity whereas others enjoy complexity.
The one-size-fits-all approach just doesn't work and I've noticed the daily interactions between certain militant camps of investors that feel as though they're going to finally convince the other side to see the light and vice versa.
For some it is Groundhog Day on Twitter 24/7.
The best investors out there are likely the most self-aware.
They do what makes sense for them and have an uncanny ability to ignore the constant noise and distractions.
There are numerous roads to Rome and we don't all have to be on the same path.
Nomadic Samuel rowing in the Black Forest region of Germany
Any Investor Can Ignore Your Best Advice And Be Wildly Successful — 12-Question FAQ
What is the core argument of this article?
That many different investing paths can lead to financial freedom, even when they contradict each other or ignore widely held “best practices.”
Does ignoring expert advice guarantee success?
No. It simply means success is possible via multiple approaches; discipline, time horizon, and fit with your personality still matter most.
How can opposite strategies both work?
Markets reward different behaviors across cycles. If a strategy matches the investor’s temperament and they stick with it, compounding can still do the heavy lifting.
What are examples of opposite approaches succeeding?
A classic 60/40, a handful of blue chips, home-country-only stocks, or even all-equity portfolios can each reach goals if the investor stays the course.
What is the author’s “best advice” in brief?
Expand the canvas: diversify globally, add alternatives and capital-efficient building blocks, and anchor decisions in a written Investment Policy Statement.
Who might benefit from doing the opposite of that advice?
Investors who can only stick with an ultra-simple, high-conviction approach may be better off concentrating rather than adopting a complex allocation they won’t follow.
What are the risks of concentration or home country bias?
Greater drawdown risk, sector or policy shocks, and missed global opportunities; these can be acceptable only if the investor understands and accepts them.
How should an investor pick a style that fits their personality?
Match strategy to behavior: tinkerers may prefer tactical rules, while patient holders may favor permanent allocations; self-awareness reduces bailout risk.
Is diversification still useful if many paths work?
Yes. Diversification lowers reliance on any single outcome and can smooth the ride, but it is not mandatory for every successful investor.
How should investors define success?
By personal goals: adequate savings rate, staying invested through cycles, meeting spending needs, and reaching financial independence on a chosen timeline.
What are common pitfalls when copying someone else’s portfolio?
Mismatch of risk tolerance and time horizon, quitting during drawdowns, and adopting complexity without conviction or process.
What tool helps any approach succeed?
A clear IPS with rules for contributions, rebalancing, risk limits, and a “zoom-out, chill-out, let-it-be” clause to prevent emotional decisions.
Nomadic Samuel Final Thoughts
There are few pursuits in life that offer as many different potential pathways as investing.
Whatever I or anyone else believes can be totally ignored and you can still reach all of your financial goals by sticking with something that makes sense for you personally.
That's not just true in investing but in most other pursuits in life.

#### AQR Diversifying Strategies Fund Review | QDSIX Mutual Fund Review
One of the earliest memories I have of "fending for myself" was that time I made a super sandwich as a teenager.
Left alone to my own devices for lunch, I rummaged around the kitchen and found some leftover sourdough bread, turkey and bacon.
That alone toasted would have done the trick.
But I had to take it a step further.
So out came the strawberry jam, banana and peanut butter.

I know what you're thinking.
That's "___________" disgusting!
Hear me out.

Turkey and bacon are no doubt a winning combo?
Same with peanut butter and jam and peanut butter and banana?
Well, I'm telling you that all five of them together with melted butter on the sourdough toast sure tickled the fancy of my juvenile tastebuds.
It was an incredible 6-1 combination of unlikely ingredients that came together for the most ridiculously assembled super sandwich only a teenager could fully appreciate.
Well, the fund we're going to review today is a super sandwich in the realm of alternative investments.
It takes six of AQR's alternative funds and somehow gets all of the ingredients under one hood.

The super fund of funds, multi-asset class and multi-strategy fund I'm referring to is none other than AQR Diversifying Strategies Fund.
Ticker QDSIX.
I'll attempt, as best my amateur eyes are capable of, to dissect what may be one of the best all-in-one alternative solutions for portfolios.
If you're not still thinking about the ridiculous sandwich I mentioned, we can get started!

AQR Diversifying Strategies Fund: What's Under The Hood?

At this point you're well aware this is a 6-1 super fund of funds but what exactly is under the hood of AQR Diversifying Strategies mutual fund?

"AQR Multi-Asset Fund: Invests by allocating risk, rather than dollars, in a balanced manner across multiple asset classes."
"AQR Macro Opportunities Fund: Invests across asset classes and geographies on the basis of macroeconomic trends."
"AQR Managed Futures Strategy HV Fund: Employs a trend following approach to going long and short liquid futures and forward contracts across asset classes."
"AQR Style Premia Alternative Fund: Invests long and short across investment styles, markets and asset classes."
"AQR Equity Market Neutral Fund: Seeks to generate returns without exposing investors to risks of equity markets by investing both long and short."
"AQR Diversified Arbitrage Fund: Combines arbitrage strategies into one portfolio in an effort to mitigate risk and harness multiple sources of return."

A better way of understanding the complex nature of this fund is to separate it into two categories.
The Active Multi-Asset Strategy (33% AQR Multi-Asset Fund) provides long-only tactical allocation to global equities, bonds and real assets.
This is what investors would be most familiar with in their traditional portfolios.
It's a diversified mix of the global asset classes that make a long-only portfolio diversified.

The Absolute Return Strategies (5 Other alternative AQR funds each at 13% slices) are the long-short adaptive funds that deploy a myriad of different strategies.
I'd need to unpack each individual fund (with its own discreet review) to properly cover every strategy.
I actually plan on doing that!
But for the purposes of this article we'll leave things to the brief strategy descriptions we highlighted above.
It's also important to note a difference between the fund's strategic and current holdings.

QDSIX utilizes a proprietary allocation methodology but with the discretion to modify based upon current market conditions.

AQR Diversifying Strategies: Correlations Between Funds

Here is where things get interesting.
We're able to determine the monthly correlations between all AQR funds under the hood dating back to November 2014.
Just for good measure I've added SPY ETF and AGG ETF to the mix, so that investors can get a taste of correlations between the S&P 500 and Aggregate bond index.
Here is where you're able to see a clear advantage of combining numerous alternative strategies together under one ticker.
Generally speaking, the alternative AQR strategies have low to negative correlations amongst each other.
Furthermore, they have low to negative correlations with SPY and AGG too.

AQR Diversifying Strategies Simulation Performance

Let's do a rough simulation of AQR Diversifying Strategies Fund by plugging in the strategic target allocations and rolling the clock back to November 2014.

CAGR: 4.49%RISK: 5.28BEST YEAR: 13.96%WORST YEAR: -5.97%MAX DRAWDOWN: -9.23%SHARPE RATIO: 0.68SORTINO RATIO: 1.17MARKET CORRELATION: 0.31
In this backtest we're able to clearly see that a simulated AQR Diversifying Strategies Fund at its target allocations provides decent returns and outstanding risk management.
With a maximum drawdown of only -9.23% and low market correlation of 0.31 it offers everything you'd want from an alternative fund in terms of a diversification meets risk management standpoint.
Just for fun let's see what happens when we throw in 5% slices of all 6 of the underlying funds into a 60/40 portfolio.

Let's view the difference in terms of performance versus risk management.

CAGR: 6.38% vs 6.12%RISK: 10.30% vs 7.28%BEST YEAR: 21.79% vs 16.09%WORST YEAR: -16.90% vs -5.66%MAX DRAWDOWN: -20.78% vs -9.96%SHARPE RATIO: 0.56 vs 0.72SORTINO RATIO: 0.82 vs 1.09MARKET CORRELATION: 0.99 vs 0.97
What a difference in terms of risk adjusted returns when we add diversifying slices of AQR alternative funds to a milquetoast 60/40!
We give up 26 basis points of returns to receive 302 basis points of risk management in terms of enhanced standard deviation.
Our worst year and max drawdown become considerably more palatable.
And last but not least, we accept considerable upgrades in terms of our Sharpe Ratio and Sortino Ratio.
We're able to clearly see the benefit of adding alternatives to the mix of a traditional portfolio.
What about if we're more capital efficient with our exposure to stocks and bonds?
To test that let's compare the results of swapping out VBIAX with PSLDX versus a 100% VBIAX portfolio.

CAGR: 6.38% vs 9.68% vs 10.00%RISK: 10.30% vs 14.25% vs 21.41%BEST YEAR: 21.79% vs 37.66% vs 52.60%WORST YEAR: -16.90% vs -24.05% vs -43.17%MAX DRAWDOWN: -20.78% vs -28.00% vs -47.45%SHARPE RATIO: 0.56 vs 0.66 vs 0.51SORTINO RATIO: 0.82 vs 1.00 vs 0.75MARKET CORRELATION: 0.99 vs 0.89 vs 0.89
When the AQR diversifying mix of alternative strategies is handcuffed to expanded canvas PSLDX it certainly helps tame its volatility.
The difference between standard deviation, worst year and maximum drawdown is jarring to say the least.
It's pretty obvious at this point that an allocation to AQR Diversifying Strategies Fund offers investors a compelling puzzle piece whether they're playing around in a 100% sandbox or with an expanded canvas.

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
QDSIX Alternative Mutual Fund Review | AQR Diversifying Strategies Fund Review

AQR Capital Management: Alternative Investment Juggernaut
AQR Capital Management is an alternative investment juggernaut.
Few other fund providers offer such a wide ranging roster of funds for investors to consider.
Let's check them out!
AQR Roster Of Funds
Single Strategy
AQR Diversified Arbitrage Fund - I: ADAIX / N: ADANX / R6: QDARXAQR Equity Market Neutral Fund - I: QMNIX / N: QMNNX / R6: QMNRXAQR Long-Short Equity Fund - I: QLEIX / N: QLENX / R6: QLERXAQR Macro Opportunities Fund - I: QGMIX / N: QGMNX / R6: QGMRXAQR Managed Futures Strategy Fund - I: AQMIX / N: AQMNX / R6: AQMRXAQR Managed Futures Strategy HV Fund - I: QMHIX / N: QMHNX / R6: QMHRXAQR Risk-Balanced Commodities Strategy Fund - I: ARCIX / N: ARCNX / R6: QRCRX AQR Sustainable Long-Short Equity Carbon Aware Fund - I: QNZIX / N: QNZNX / R6: QNZRX
Multi-Strategy
AQR Alternative Risk Premia Fund - I: QRPIX / N: QRPNX / R6: QRPRXAQR Diversifying Strategies Fund - I: QDSIX / N: QDSNX / R6: QDSRXAQR Style Premia Alternative Fund - I: QSPIX / N: QSPNX / R6: QSPRXAQR Multi-Asset Fund - I: AQRIX / N: AQRNX / R6: AQRRX

AQR Diversifying Strategies Fund Overview, Holdings and Info
The investment case for “AQR Diversifying Strategies Fund” has been laid out succinctly by the folks over at AQR:
"Investment Objective:
Seeks capital appreciation.
A Diversified Approach to Alternative Investing:
The Fund seeks attractive long-term risk-adjusted returns through strategic allocations to AQR alternative mutual funds.
Investment Approach:
Leveraging AQR’s research and 20-year track record in alternative investing, the Fund is designed to complement an investor’s traditional stock and bond portfolio. 
The Fund invests in a portfolio of AQR mutual funds, providing exposure to both Active Multi-Asset strategies and Absolute Return strategies:
Active Multi-Asset Strategies: seek to provide tactical and risk-managed allocations among major asset classes across global markets. These strategies are expected to have some correlation to traditional asset classes over the long-term.
Absolute Return Strategies: seek to capture returns from well-established investments styles, such as value and momentum. Certain strategies may also provide exposure to less accessible types of returns. These strategies tend to be uncorrelated to traditional asset classes over the long-term.
Why Invest in the Diversifying Strategies Fund?
A Core Alternative Allocation:
The Fund seeks to provide an all-in-one solution for investors seeking a strategic, long-term approach to alternatives.
Low Exposure to Traditional Markets:
The Fund seeks reduced sensitivity to stock and bond market movements, which can help improve portfolio resilience across various market environments.
Multiple Sources of Return:
The Fund offers diversified exposure to a range of alternative strategies and return sources."

AQR Diversify Strategies Fund Investment Strategy Key Points

Fund Exposure: Global markets (developed and emerging markets) and Multiple Asset Classes (equities, fixed-income, commodities and currencies)
Long and Short Positions: Across a wide range of securities, derivatives and other instruments
Fund Goals:A) Reduced correlation to stock and bond market movements, andB) Multiple alternative return sources that are independent from traditional stock and bond markets.
Fund of Funds: Gains exposure to these types of investments and strategies through its own underlying alternative funds
2 Categories of Alternative Strategies:A) Active Multi-Asset Strategies: Tactical and risk-managed allocations = some correlation to traditional asset classesB) Absolute Return Strategies: Value, momentum, merger, convertible arbitrage = uncorrelated to traditional asset classes
3 Types of Absolute Return Strategies:A) Long/short strategies: Long (and short) positions in attractive investments (and unattractive) on a relative basisB) Directional strategies: Taking long (or short) positions in attractive investments (or unattractive) on an absolute basisC) Arbitrage strategies: Exposure to merger arbitrage, convertible arbitrage and other event-driven strategies
Asset Allocation Process: Proprietary methodology with the discretion to modify based upon current market conditions
Target Volatility: No target but likely the fund will realize annualized volatility levels of between 4% and 8%

AQR Diversify Strategies Fund Info
Tickers: QDSIX (Class I) / QDSNX (Class N) / QDSRX (Class R6)Adjusted Expense Ratio: 1.47 (Class I)AUM: 224 MillionInception: 06/08/2020
In terms of investment minimums, the fund is available for individual investors ($5 Million), Accounts offered by Financial Advisors (None) and Institutional Investors (None).

AQR Diversify Strategies Fund Performance
AQR Diversifying Strategies Fund couldn't have picked a better time to be dropped into the sizzling frying pan.
Since its inception, it has handled the challenges the market has thrown its way with ease whereas the S&P 500 and 60/40 Portfolio have had their share of challenges to say the least.
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
CAGR: 12.25%RISK: 6.45%BEST YEAR: 14.69%WORST YEAR: 5.18%MAX DRAWDOWN: -4.45%SHARPE RATIO: 1.70SORTINO RATIO: 4.06MARKET CORRELATION: 0.15

AQR Diversify Strategies Fund Pros and Cons
Let’s move on to examine the potential pros and cons of AQR Diversifying Strategies Fund.
QDSIX Pros

Super fund of funds, multi-asset class, multi-strategy 6-1 single fund total alternative solution for your portfolio
Low to negative correlations between the 6 alternative strategies offered in the fund
Low to negative correlations between the 6 alternative strategies and major market fund such as SPY and AGG ETF
The ability to plug into a traditional 60/40 portfolio and/or capital efficient portfolio to improve risk adjusted returns
A strategy that has navigated the challenges of the 2020s with ease while traditional long-only asset classes have struggled
The capacity to achieve superior absolute returns no matter what economic regime or curveball is thrown its way
Instead of having to cobble together numerous alternative strategies you can just plug this all in one solution into your portfolio
Eliminates the risk of one alternative strategy that is struggling from dragging the portfolio down by splitting up into 6 parts
The expectation (but not target) of 4 to 8% volatility to smooth out overall portfolio returns
Reasonable management fee for a fund of funds alternative investment strategy

QDSIX Cons

Tracking error and prolonged periods of relative underperformance versus traditional asset classes tempts investors to bail on alternative strategies
Could be a bit of a blackbox for investors not familiar with all of the alternative strategies that are part of the fund

AQR Diversify Strategies Fund Model Portfolio
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Let's put together a globally diversified expanded canvas model portfolio where AQR Diversifying Strategies Fund has plenty of breathing room and space to shine.
20% DSEEX - DoubleLine Shiller Enhanced CAPE20% DSEUX - DoubleLine Shiller Enhanced Intl CAPE20% QLEIX - AQR Long-Short Equity40% QDSIX - AQR Diversifying Strategies
The capital efficient 100/100 equities/fixed income DoubleLine funds allow us to reach 40/40 equities/bonds with a 40% allocation.
We'll add 20% AQR Long-Short Equity to fulfill the exposure of a 60/40 portfolio with 40% of space leftover for QDSIX.

AQR Diversify Strategies Fund + Friends Portfolio vs 60/40 Portfolio (VBIAX)

CAGR: 13.30% vs 3.65%RISK: 11.03% vs 13.21%BEST YEAR: 19.06% vs 15.23%WORST YEAR: 1.58% vs -16.90%MAX DRAWDOWN: -11.48% vs -20.78%SHARPE RATIO: 1.12 vs 0.28SORTINO RATIO: 2.00 vs 0.40MARKET CORRELATION: 0.76 vs 0.99
Here we're able to see that an expanded canvas portfolio pursuing maximum diversification between strategies absolutely crushes a 60/40 portfolio in what is albeit a very small sample size.
It's just an across the board triumph from a risk meets returns standpoint.

The monthly correlations between the four funds suggest that we're well diversified for future battles.

AQR Diversifying Strategies Fund (QDSIX) — 12-Question FAQ
1) What is AQR Diversifying Strategies Fund (QDSIX)?
QDSIX is a multi-asset, multi-strategy “fund of funds” from AQR that combines several of the firm’s alternative mutual funds into one ticker to deliver a core alternatives allocation designed to diversify traditional stock/bond portfolios.
2) What’s under the hood?
It blends six AQR funds: one Active Multi-Asset sleeve (AQR Multi-Asset) plus five Absolute-Return sleeves (Macro Opportunities, Managed Futures HV, Style Premia Alternative, Equity Market Neutral, and Diversified Arbitrage) to access trend, macro, style premia, market-neutral, and arbitrage return streams.
3) How do the two sleeves differ?

Active Multi-Asset: long-only, risk-managed allocations to global stocks, bonds, and real assets; tends to show some correlation to traditional markets.

Absolute Return: long/short, rules-based strategies (value, momentum, carry, quality; merger/convertible arbitrage, etc.); designed to be low/uncorrelated to stocks and bonds.

4) What problem is QDSIX trying to solve?
It aims to provide diversification and drawdown dampening by adding multiple independent return streams so investors aren’t relying solely on equities (or a 60/40) during tough regimes.
5) How does it typically behave in a portfolio?
Historically (per the review’s simulations), pairing diversified alternatives with traditional assets reduced volatility and max drawdowns while improving risk-adjusted metrics—exact outcomes will vary, but the intent is smoother portfolio paths with lower market beta/correlation.
6) Who might consider QDSIX?
Investors seeking a single-ticket alternatives core (instead of building six separate sleeves), advisors wanting implementation simplicity, and allocators prioritizing risk management and multi-strategy diversification over pure benchmark tracking.
7) What are the key risks or drawbacks?
Expect tracking error versus stock/bond benchmarks, potential periods of relative underperformance, and strategy complexity (“black box” feel). As with any alternatives fund using derivatives and shorting, results can diverge from investor expectations in the short run.
8) How can QDSIX be used in practice?
Common uses from the review:

Plug-in to 60/40 to lift Sharpe/Sortino and lower drawdowns.

Pair with capital-efficient cores (e.g., 90/60 or 100/100 funds) to keep equity/bond exposure while carving room for diversifiers.

Anchor an “alts sleeve” at 10–40% depending on mandate and tolerance.

9) What about correlation benefits?
The underlying AQR sleeves show low to negative correlations to one another and to broad stock/bond proxies, which is the engine of the fund’s diversification potential (per the review’s correlation tables).
10) What share classes, fees, and minimums were noted?
Tickers include QDSIX (I), QDSNX (N), QDSRX (R6). The review cites an adjusted expense ratio ~1.47% (I-shares) and notes access differences: Individuals (high minimum, e.g., $5M), Advisors/Institutions (no stated minimums)—confirm current details with AQR or your platform.
11) What volatility profile should investors expect?
While not a hard target, the prospectus language referenced in the review suggests an expected long-run volatility range ~4–8% (actual results can differ across periods).
12) Bottom line from the review?
QDSIX is positioned as a “super-sandwich” all-in-one alternatives solution—six differentiated strategies under one roof—to enhance risk-adjusted returns and stabilize portfolios across regimes, provided investors can live with complexity and benchmark deviation.
Nomadic Samuel Final Thoughts
AQR has really created a masterpiece with its Diversifying Strategies super fund of funds.
Investors are able to drop a slab of the fund into their portfolios with six different alternative strategies conspiring to enhance risk adjusted returns.

It's a no brainer, in my opinion, if you're able to purchase it.
However, at this point in the review I'm more interested in what you've got to say.

What do you think of AQR Diversifying Strategies Fund?
Is it on your radar?

#### AQR Style Premia Alternative Fund Review: QSPIX Mutual Fund Review
One of the most embarrassing moments of my life occurred during a dim sum lunch with a PR representative in Hong Kong.
My wife and I were in the city for a work project and we had received an invitation to go out for lunch.
We were given an address and we knew what neighbourhood we were meeting in, but that was the extent of our research. After all, it was just dim sum!
Up until then, my experience with dim sum was limited to Malaysia where it was all about outdoor plastic chairs, pushcart trolleys, boisterous conversations and shirtless men smoking cigarettes whilst reading the local newspaper.

I thought we were going out for the most casual of lunches and I couldn't have been more wrong!
Because it was a rainy day, we hopped in taxi and we were a little surprised when our driver dropped us off at the International Commerce Center, a super glitzy skyscraper overlooking Victoria Harbour.
It turns out the restaurant we were going to was located on the 102 floor of the Ritz-Carlton Hotel.
As I entered the elevator it became painstakingly obvious I was severely underdressed for the occasion.
Here I was decked out in a t-shirt, shorts and sandals, while men around me were sporting business suits.

As the elevator door opened my heart was beating like a drum.
The maître d' quickly looked me over, asked if I was in the right place, and the proceeded to lead me to a backroom where I was presented with a bag containing shoes, a dinner jacket and trousers.
Apparently, I wasn't the first idiot to arrive at this restaurant not dressed for the occasion.
However, I felt relieved as this seemed like a reasonable enough solution.
The only problem was that the trousers were for a man that was about 5'7 and 135 lbs.
And here I am 6'1 and 190 lbs.
I tried to put on the pants, but they were more like capri pants on me leaving my ankles and calves exposed.
Zip up the pants?
Forget about it.
The dinner jacket wasn't any better.
Imagine a sausage casing.
The only thing that fit reasonably well were the shoes.

So out I came from the backroom dressed like some kind of farang freakshow waltzing my way to the table.
It actually looked about 10X worse than had I just remained woefully underdressed.
At that moment, if I could have crawled into a cave and died, I might have chosen that option.

Somehow, our host kept a straight face while my wife tried her best to contain her laughter.
We got through lunch, which featured dim sum with gold leaf and the best views of Hong Kong.

Style premia?
Zero that day.
But we're not here to poke anymore fun at my fashion faux pas. Instead, let's learn more about a fascinating alternative investing strategy.

What Is Style Premia?
Style Premia is not related to how appropriately you dress for dinner; it's a multi-strategy plus multi-asset class way of expressing long-short styles across research supported factors such as carry, defensive, value and momentum.
I like to think of it as a 4 x 4 tearing around in the mud.
You've got four asset classes:

Equities
Bonds
Commodities
Currencies

And you're expressing four distinct investing styles:

Value
Momentum
Carry
Defensive

Style premia, in the world of finance, refers to investment strategies that aim to capture specific returns associated with distinct investment styles. These styles are based on systematic patterns or anomalies found in markets over time. The concept is grounded in the belief that certain characteristics of assets can predict higher returns. Here’s a breakdown of what constitutes style premia:

Value: This style is based on the principle that stocks or assets priced below their intrinsic value will, over time, provide superior returns as the market corrects the mispricing. It's akin to finding a high-quality item on sale; eventually, its price is expected to reflect its true worth.
Momentum: Momentum investing involves capitalizing on the continuation of existing market trends. It operates on the premise that assets which have performed well in the recent past will continue to do so in the short-term future, and vice versa for poorly performing assets.
Carry: In the carry trade, investors profit from the difference between the yields of two assets. For example, in currency markets, it might involve borrowing in a currency with a low interest rate and investing in a currency with a higher interest rate, profiting from the spread.
Defensive (Low Volatility): Defensive or low volatility investing focuses on assets with lower risk and volatility compared to the market. The idea is that these assets will yield better risk-adjusted returns over time, as they are less susceptible to large market swings.

Style premia strategies involve going long (buying) assets that exhibit these desirable characteristics whilst going short (selling) assets that do not. The strategies can be applied across various asset classes, including equities, bonds, commodities, and currencies to systematically capture the desired exposures.
The appeal of style premia investing lies in its systematic approach that diversifies across different styles; investors can potentially reduce risk and enhance returns, as these styles tend to perform differently across various market environments.

Style Premia Potluck Dinner
Picture this as an episode of "The Investment Chef," where strategies are not just strategies, but characters at a high-stakes potluck dinner.

Value Investing: Meet Value Vick, the thrift shop connoisseur. He's the guy who buys neon leg warmers and vinyl records for pennies and swears they'll be worth a fortune. At the potluck, he brings a casserole he made from discounted, day-old bread and mystery meat he swears is prime rib. Everyone's skeptical until Gordon Ramsay stops by, tastes it, and declares it a culinary masterpiece. Value Vick smirks, his dish is now the hit of the party.
Momentum Investing: Then there's Momentum Mandy. She's on TikTok 24/7, catching trends before they're cool. For the potluck, she brings the latest viral sensation: cloud eggs. Half the room thinks she's a genius; the other half hasn't even heard of cloud eggs yet. Mandy's dish is popular until someone mentions they're so last week, and suddenly, she's in the kitchen whipping up dalgona coffee.
Carry Trading: Carry Trader Carl walks in, a Monopoly millionaire, always collecting rent. He's brought a fondue set, charging people a dollar to dip their snacks. It's all fun and games until someone realizes they're actually paying to eat their own food. Carl's making a killing, though, and offers to share his profits if you'll just let him set up a mini-bar next to the fondue station.
Defensive Investing: Lastly, we have Defensive Dana. She's wrapped in bubble wrap, carrying a salad made entirely of superfoods. It's designed to survive a nuclear fallout and still provide 100% of your daily vitamins. Dana's corner of the table is for those who want to play it safe, avoiding the rollercoaster of food poisoning from Uncle Value's mystery meat casserole.

Combine all these personalities at the potluck, and you've got the Style Premia strategy: a smorgasbord of investing tactics that might seem quirky on their own but together aim to conquer the buffet of alternative strategies. It's a blend of finding hidden gems, riding the wave of popularity, making money off literally anything, and always having a safety net (made of kale, probably). Because in the end, why put all your eggs in one basket when you can spread them across a buffet while you're at it?

Uncorrelated Strategy + Absolute Return Potential
The concept of style premia strategies revolves around the aim to deliver absolute returns, which means trying to generate positive returns irrespective of the broader market's direction. This ambition sets style premia apart from traditional equity or bond investments, which often depend on market trends for performance.
Its returns in 2022 provide a perfect example of this:

Style premia strategies often exhibit low correlation with traditional asset classes like stocks and bonds. This characteristic is pivotal for absolute return strategies, as it allows these investments to potentially generate positive returns even when traditional markets are flat or declining. What's fascinating is that style premia is also uncorrelated with many other alternative strategies!

Hence, there is a tremendous diversification benefit to integrating it into a portfolio that has traditional assets (equities and bonds) and an alternative sleeve (managed futures, gold, market neutral, etc).
The question you need to ask yourself as an investor is whether or not you want to shave down (existing exposures) or expand the canvas (create space with capital efficient funds) to make room for it all.

Review of AQR Style Premia Alternative Mutual Fund : Reviewing QSPIX Fund
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

AQR Capital Management: OG Alternative Investment Provider
AQR Capital Management is without a doubt the OG Alternative fund provider.
Here is their complete roster of alternative funds:
AQR Complete Alternative Funds List
Single Strategy
AQR Diversified Arbitrage Fund – I: ADAIX / N: ADANX / R6: QDARXAQR Equity Market Neutral Fund – I: QMNIX / N: QMNNX / R6: QMNRXAQR Long-Short Equity Fund – I: QLEIX / N: QLENX / R6: QLERXAQR Macro Opportunities Fund – I: QGMIX / N: QGMNX / R6: QGMRXAQR Managed Futures Strategy Fund – I: AQMIX / N: AQMNX / R6: AQMRXAQR Managed Futures Strategy HV Fund – I: QMHIX / N: QMHNX / R6: QMHRXAQR Risk-Balanced Commodities Strategy Fund – I: ARCIX / N: ARCNX / R6: QRCRX AQR Sustainable Long-Short Equity Carbon Aware Fund – I: QNZIX / N: QNZNX / R6: QNZRX
Multi-Strategy
AQR Alternative Risk Premia Fund – I: QRPIX / N: QRPNX / R6: QRPRXAQR Diversifying Strategies Fund – I: QDSIX / N: QDSNX / R6: QDSRXAQR Style Premia Alternative Fund – I: QSPIX / N: QSPNX / R6: QSPRXAQR Multi-Asset Fund – I: AQRIX / N: AQRNX / R6: AQRRX

AQR Style Premia Alternative Fund Overview, Holdings and Info
The investment case for “AQR Style Premia Alternative Fund” has been laid out succinctly by the folks over at AQR Capital Management:

Investment Case

"Seeks positive absolute returns."

A Core Alternative Solution

The Fund aims to deliver attractive risk-adjusted returns with low correlation to traditional stock/bond portfolios by investing in a broad and diversified range of alternative risk premia.

Investment Approach

"The Fund invests long and short across five different asset groups (stocks & industries, equity indices, fixed income, currencies and commodities) and four investment styles (Value, Momentum, Carry and Defensive), and aims to be market neutral.
Investment styles are disciplined, systematic and economically intuitive methods of investing that have the ability to produce long-term positive returns across markets and asset groups with little correlation to equity markets.
These styles have historically exhibited low correlations to one another. By allocating equal risk across strategies, the Fund exposures are well balanced across the different sources of return. An integrated portfolio of alternative risk premia can provide important diversification benefit to traditional portfolios and can serve as a core alternative allocation."

Fund Overview: Why Invest in the AQR Style Premia Alternative Fund?

Seeks Attractive Risk-Adjusted Returns
The Fund combines four different style strategies across a range of liquid asset groups: stocks & industries, equity indices, fixed income, currencies and commodities. By implementing a risk-balanced exposure to these largely unrelated returns sources, the Fund aims to benefit from their diversification potential and deliver attractive risk-adjusted returns.

Opportunity To Perform In Rising And Falling Markets
By investing long and short, the Fund seeks to be market neutral with low correlation to equity and bond markets, and aims to provide positive absolute returns in both rising and falling markets.

Core Allocation To Alternatives
The Fund takes a holistic approach to style investing: combining exposure to four styles across five asset classes within one single portfolio. Investors may benefit from the simplicity of a single, balanced, core solution compared to the challenges of picking several single style products.

AQR Style Premia Alternative Fund: QSPIX Fund Selection Process
To better understand the process of how the fund operates, let’s turn our attention towards the summary prospectus where I've summarized the key points at the very bottom.

AQR Style Premia Alternative Fund Key Points

Investment Objective and Styles: The Fund aims to provide exposure to four investment styles - value, momentum, carry, and defensive - across various asset groups including equities, bonds, interest rates, commodities, and currencies, employing both long and short positions.
Asset Groups and Global Reach: Investments span globally, including emerging markets, across a diverse set of instruments such as equities, futures, currency and commodity forwards, and swaps. The Fund can invest directly in these instruments or indirectly through a subsidiary.
Equity and Bond Exposure: The Fund's equity exposure includes U.S. and non-U.S. issuers and indices, while bond exposure includes U.S. Government securities and sovereign debt from both developed and emerging markets. It may invest in debt securities of any credit rating, including high-yield bonds.
Currency Exposure: The Fund may have significant exposure to non-U.S. dollar denominated currencies, including those from emerging markets, aiming for low correlation to traditional equity and bond markets.
Investment Strategies Detailed:

Value: Favors cheap assets based on fundamental measures like price-to-earnings and price-to-book ratios.
Momentum: Prefers assets with superior medium-term performance, utilizing measures like price momentum.
Carry: Seeks higher-yielding assets, using interest rates for selection.
Defensive: Chooses low-risk, high-quality assets, with the goal of higher risk adjusted rates of returns.

Portfolio Construction: Utilizes a systematic, bottom-up process that ranks investments within each asset group by each style. The process aims for equal risk distribution across styles within asset groups and a balanced risk allocation across asset groups.
Volatility Management: The Adviser targets an average annualized volatility level for the Fund of 10%, with an expected range of 8% to 15%. Actual volatility may vary based on market conditions.
Trading and Tax Considerations: The Fund engages in frequent trading, potentially leading to higher transaction costs and adverse tax consequences.
Subsidiary Investments: Up to 25% of the Fund's assets may be invested in a wholly-owned subsidiary to gain exposure to commodities markets within tax law limitations. The Subsidiary can invest in a wider range of commodities-related instruments than the Fund.
Cash Holdings: A portion of the Fund's assets will be held in cash or cash equivalents to possibly include short-term investment funds, money market funds, and U.S. Government securities, ensuring liquidity and margin/collateral for derivative positions.

AQR Style Premia Alternative Fund Info
Ticker: I: QSPIX / N: QSPNX / R6: QSPRXAdjusted Expense Ratio: 1.52AUM: 1.01 BillionInception: 10/30/2013

AQR Style Premia Alternative Fund Strategy Pros and Cons
Let’s move on to examine the potential pros and cons behind the strategy of AQR Style Premia Alternative Fund.
QSPIX Pros: Distinct Advantages

Diversification Across Styles and Asset Classes: By investing across multiple styles and asset classes (equities, bonds, commodities, currencies), the strategy offers a higher level of diversification, reducing the overall portfolio risk compared to traditional single-style or single-asset investments.
Low Correlation to Traditional Markets: Style premia strategies often exhibit low correlation to traditional equity and bond markets, providing a valuable source of portfolio diversification and potentially reducing overall volatility.
Low Correlation with Other Alternative Strategies: It was fascinating to discover that Style premia is uncorrelated with managed futures and gold.
Systematic Risk Management: Utilizes quantitative models to systematically manage risk, ensuring that investments are spread across various styles and asset classes to maintain a balanced risk profile, targeting specific volatility levels.
Enhanced Return Potential: By capturing premiums across different investment styles, the strategy aims to enhance returns over the long term, capitalizing on the tendency of certain styles to outperform under different market conditions.
Opportunistic Long/Short Positions: The ability to take both long and short positions in various markets allows the strategy to profit from rising and falling markets, providing a potential source of positive returns irrespective of market direction.
Exposure to Global Markets: Investing globally, including in emerging markets, offers exposure to a wider range of economic conditions and opportunities, potentially enhancing returns and reducing risk through geographic diversification.
Flexibility and Adaptability: The strategy's systematic approach allows for flexibility and adaptability to changing market conditions, enabling quick adjustments to the portfolio's exposure across different styles and asset classes.
Advanced Risk Management Techniques: Utilizes advanced risk management techniques, including proprietary algorithms for trading and active monitoring of volatility and other risk measures, to mitigate potential losses.
Potential for Improved Risk-Adjusted Returns: The combination of diversified exposures and systematic risk management aims to improve risk-adjusted returns, making the strategy an attractive option for investors seeking to optimize their risk/reward profile.
Access to Alternative Risk Premia: By focusing on style premia, the strategy provides access to alternative risk premia that are not easily accessible through traditional investment strategies, offering a unique source of potential alpha generation.
Absolute Return Potential: The strategy/fund delivered a +30.64% CAGR in 2022 when a 60/40 VBIAX (-16.90%) and S&P 500 SPY (-18.17%) got slaughtered
Core Alternative Strategy Or Satellite Diversifier: Can easily be a core alternative strategy with its multi-asset class plus multi-strategy approach or a satellite diversifier
Expanded Canvas Portfolios Potential: Can be combined with other uncorrelated traditional investing strategies (long-only stocks and bonds) and uncorrelated alternatives (managed futures, gold, arbitrage) to build a robust portfolio

QSPIX Cons: Potential Limitations

Complexity: The strategy's reliance on multiple investment styles and asset classes, along with the use of sophisticated algorithms (and long-short nature), can make it complex and difficult for some investors to understand fully.
Cost: Implementing a Style Premia Alternative Strategy can be costlier than traditional investment strategies due to the need for advanced risk management systems and more frequent trading to express its long-short views.

AQR Style Premia Alternative Fund Model Portfolio Ideas
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
QSPIX offers investors a myriad of interesting options for potential portfolio construction.
Anywhere between a 10% (as a satellite diversifier) allocation up to a 30% (as an alternative core strategy) allocation makes sense.
Let's explore some of those combinations.
Style Premia Expanded Canvas Portfolio
For those seeking to expand the canvas of their portfolio to add style premia (plus other alternative strategies) it's never been easier to do just that.
Model Portfolio:
40% RSSB - Return Stacked Global Stocks & Bonds ETF20% RSST - Return Stacked US Stocks & Managed Futures ETF20% QPSIX - AQR Style Premia Alternative Fund10% LCSIX - LoCorr Long/Short Commodity Strategies Fund10% BTAL - AGF US Market Neutral Anti Beta Fund
Exposures:
60% Equities (Global + US)40% Bonds20% Managed Futures20% Style Premia10% Long-Short Commodities10% Market Neutral Anti-Beta
Canvas: 160%
Here we've maintained the backbone of a 60/40 with a hefty 60% pile of uncorrelated alternatives added to the mix.
Let's utilize VBIAX (60/40) and PQTIX (Managed Futures) to backtest this robust beast bad boy .

CAGR: 10.47% vs 7.73%RISK: 8.90% vs 10.15%MAX DD: -6.87% vs -16.90%WORST YEAR: -11.21% vs -20.78SHARPE: 1.02 vs 0.66SORTINO: 1.69 vs 1.00CORRELATION: 0.89 vs 0.98

Here we've got ourselves a nifty returns above risk portfolio boasting a Sharpe 1.00+ Ratio.
Hey, let's not be modest over here.
It absolutely cleans the clock of a static 60/40 with its diverse range of uncorrelated long-short alternative absolute return strategies in terms of having significantly better CAGR, risk management and risk adjusted rates of returns.

Finally, let's move on to drawdowns.

I like what I see.
Style Premia Countdown Portfolio (4, 3, 2, 1)
Let's explore an out of the box countdown portfolio where our style premia allocation is high conviction at 30%.
Model Portfolio:
40% AUEIX - AQR Large Cap Defensive Style30% QSPIX - AQR Style Premia Alternative20% ABYIX - Abbey Capital Futures Strategy10% BTAL - AGF U.S. Market Neutral Anti-Beta
Exposures:
40% US Defensive Equities30% Style Premia20% Managed Futures10% Market-Neutral Anti-Beta
Canvas: 100%
Here we're rolling with four uncorrelated strategies as a potential alternative portfolio versus the milquetoast 60/40.

CAGR: 7.71% vs 7.51%RISK: 6.92% vs 10.36%MAX DD: -7.53% vs -20.78%WORST YEAR: -3.52% vs -and 16.90SHARPE: 0.91 vs 0.62SORTINO: 1.58 vs 0.94CORRELATION: 0.50 vs 0.98

You'll notice with the Style Premia Countdown Portfolio that we're compounding in a very different manner compared to the 60/40 portfolio.
We'll celebrate slight outperformance but in particular one should feast their eyes upon the differences in drawdown management (-7.53% vs -20.78%) and lower correlations with markets (0.50 vs 0.98).

You'll notice the Countdown Portfolio is an impenetrable fortress, from a drawdown management perspective, when compared to the 60/40 portfolio.

Skin A Cat 60/40 Style Premia Portfolio
For investors that insist upon a 60/40 as the bedrock of their portfolio (and aren't open to capital efficiency) we'll shave things down to create some space for style premia as a satellite diversifier.
We're just dipping our toes in the water over here.
Model Portfolio:
90% VBIAX10% QPSIX
Exposures:
90% 60/4010% Style Premia
Canvas: 100%
Here we've made space for style premia as a satellite diversifier bringing an additional strategy into the portfolio.

CAGR: 7.73% vs 7.73%RISK: 9.10% vs 10.15%MAX DD: -16.89% vs -20.78%WORST YEAR: -12.14% vs -16.90SHARPE: 0.72 vs 0.66SORTINO: 1.11 vs 1.00CORRELATION: 0.98 vs 0.98

So we've got the same returns here but we've improved the risk adjusted rate of returns across the board (SHARPE/SORTINO + MAX DD/WORST YEAR).
Even with just a slice we've improved the stability of the portfolio.

Frequently Asked Questions — AQR Style Premia Alternative Fund (QSPIX) Review
What is QSPIX in one sentence?
AQR’s Style Premia Alternative Fund (QSPIX) is a long/short, multi-asset, multi-style mutual fund seeking positive absolute returns with low correlation to traditional stock/bond portfolios.
What “styles” does QSPIX use?
It systematically targets four well-researched styles—Value, Momentum, Carry, and Defensive (low risk/quality)—implemented across multiple asset groups.
Which asset classes does it trade?
QSPIX allocates across equities (stocks & industries and indices), fixed income (rates/sovereign debt), commodities, and currencies, using cash securities and derivatives.
How does the portfolio stay balanced?
AQR aims for a risk-balanced design—roughly equal risk across styles within each asset group and across asset groups—so no single sleeve dominates outcomes.
Is it market neutral?
The fund aims for low correlation to equities and bonds by going long and short, seeking to earn style premia rather than broad market beta.
How volatile is it intended to be?
The adviser targets ~10% annualized volatility (typically 8–15% expected range) with actual realized volatility varying by market conditions.
Why might investors consider QSPIX?
For diversification (low correlation to stocks/bonds and even to many alternatives), absolute-return potential, and a single-ticket core alternative that blends styles and assets.
What are the main risks or drawbacks?
It’s complex, relies on models and derivatives, can face whipsaw periods when styles underperform, and typically carries higher costs than cap-weighted index funds.
How could QSPIX fit into a portfolio?
As a core alternative sleeve (e.g., 10–30%) or satellite diversifier, either by shaving traditional exposures or by expanding the canvas with capital-efficient funds to make room for diversifiers.
What about taxes and turnover?
The fund is actively traded (higher turnover possible), uses derivatives, and may have non-trivial tax implications—placement and tax-aware implementation matter.
What are the basic fund facts?
Tickers: I: QSPIX / N: QSPNX / R6: QSPRX • Adjusted Expense Ratio: ~1.52 • AUM: ~$1.01B • Inception: 10/30/2013. (Details per the review’s summary.)
Is this financial advice?
No. This review/FAQ is for education and entertainment only. Do your own research and consult a qualified advisor before investing.
Nomadic Samuel Final Thoughts
One of the benefits of expanding your awareness and remaining curious as an investor is that you eventually stumble upon an alternative strategy like style premia.
When I first started my site in 2022, I didn't even know what style premia was.
Now I'm excited to integrate it into my portfolio (along with other multi-strategy alternative approaches).
It's vying for elbow space in my core alternative sleeve alongside managed futures, gold and other alternative strategies.
And that's what excites me the most.
I want every single strategy in my portfolio to be competing for space the same way somebody pursuing an anti-aging protocol has various nutritious food items compete for space on their plate.

But at this point in the review I'm more interested in what you've got to say.
What do you think of style premia as a strategy and QSPIX in particular?

#### RPAR Risk Parity ETF Review | Diversified Asset Allocation Fund
I'm not sure I've ever reviewed a fund that has had such a challenging year to date, yet offers as much long-term potential for patient investors.
The fund I'm referring to is RPAR Risk Parity ETF.
In this comprehensive review I'm going to present the case as to why Risk Parity investing strategies are in many ways superior to the classic 60/40 portfolio which is by and large considered the industry standard.
Furthermore, we'll take a deep-dive into the strategy behind Risk Parity investing while examining its historical performance and risk management prowess via a comprehensive backtest.
Early readers of Picture Perfect Portfolios may remember that one of my first ever fund reviews was for UPAR Ultra Risk Parity ETF.
RPAR Risk Parity ETF is the original fund whereas UPAR ETF is the more bold and brazen younger sibling featuring an expanded canvas that stretches its limits further.
All of this talk about Risk Parity and we've yet to define it.
As you might expect, Risk Parity investing is about managing risk primarily.
Instead of keying in on just two asset classes (stocks and bonds), risk parity investment strategies often feature a more diverse set of asset classes with exposures to gold and commodities as an example.
Assets within a risk parity portfolio receive space in accordance to the level of volatility they bring to the table.
US Equites / Treasury / Gold Volatility from 1972 until 2022

For instance, US equities have historically been a volatile asset class with 15.76% standard deviation dating back to 1972.
Moreover, Gold ups the ante coming in at a whopping 19.81%!
Conversely, both the 10-Year Treasury and Intermediate Term Treasury are more stable investments (albeit with lower returns) featuring 8.05% and 5.78% standard deviation respectively.
To arrange these in accordance to a Risk Parity investment strategy, we'll create more space in the portfolio for assets that offer a smoother ride.
In our hypothetical example we'll have two larger slots of 30% for less volatile 10-Year Treasury and Intermediate Treasury.
And we'll have two smaller slots of 20% for highly volatile US equities and Gold.
Our Risk Parity Portfolio would be as follows:
30% 10-Year Treasury (risk: 8.05%)30% Intermediate Term Treasury (risk: 5.78%)20% US Equities (risk: 15.76%)20% Gold (risk: 19.81%)
Risk Parity Portfolios have historically offered investors a more palatable sequence of returns.
The best comparison would be the hypothetical Risk Parity Portfolio we've arranged above versus the Classic 60/40 Portfolio.

Risk Parity Portfolio vs 60/40 Portfolio

Indeed, the 60/40 portfolio with a more significant allocation to equities offers investors higher returns long-term with a 9.23% CAGR vs 8.14% CAGR for the Risk Parity Portfolio.
However, that's its only win.
The Risk Parity Portfolio is 307 basis points more defensive (7.03% vs 10.10%) featuring returns above risk as reflected by its higher Sharpe Ratio (0.52 vs 0.49) and Sortino Ratio (0.83 vs 0.72).
Its ability to manage max drawdowns is where it truly shines with its worst case scenario being -14.97% versus -28.54% for the 60/40 Portfolio.
Risk Parity Portfolio vs 60/40 Portfolio Drawdowns

This drawdown visual really says it all!
Feast your eyes upon the mid 70s, late 80s, early 2000s and late 2000s to witness the difference between the Risk Parity Portfolio and 60/40 Portfolio.
It's only this year where they've both struggled mightily.
Drawdowns for Historical Market Stress Periods

It's remarkable the stability the Risk Parity Portfolio demonstrated during historical market stress periods with the Subprime Crisis, Dotcom Crash and Black Monday Period as the most clear examples.
Low Roll Period: Risk Parity Portfolio vs 60/40 Portfolio

Finally, we'll examine low roll period results between the two different portfolios to see which offers a more palatable worst case scenario.
The Risk Parity Portfolio has frustrated investors with only a low roll period of -13.63% over a 1 year period.
Whereas the 60/40 Portfolio has had below water performance that would've required investors to endure 5 years of misery.
Hence, it's clear how a Risk Parity Portfolio would be an attractive alternative to a 60/40 portfolio, even within the confines of a 100% canvas, but it becomes even more intriguing when you expand the canvas beyond 100%.
RPAR Risk Parity ETF and UPAR Ultra Risk Parity ETF are both expanded canvas portfolio solutions.

RPAR ETF Review | RPAR Risk Parity ETF Review

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

The Investment Case For Risk Parity
The investment case for Risk Parity has been laid out succinctly by the folks over at Evoke Advisors.
The Investment Case for Risk Parity:

Provides Balance – spread risk equally across four diverse asset classes.
Achieves Reliable Diversification – based on a dependable relationship between asset class returns and the economic environment.
Attractive Return Relative to Risk – a balanced mix of publicly traded assets seeks to outperform equities with comparable risk.

Why Invest in RPAR?

Provides access to a time-tested risk parity methodology used by some of the world’s most sophisticated investors.
Implemented in a tax efficient, liquid ETF structure. 
Seeks an equity-like return with less risk over the long run by diversifying across four asset classes, each with unique environmental biases. 

Why does it make sense? 
By improving diversification, risk parity can potentially offer higher returns relative to risk compared to equities or equity-centric portfolios. 
How can it be used? 
Either as an alternative asset or a total public portfolio solution.
In summary, RPAR ETF presents itself as a more diversified style of long-only asset allocation (equities, fixed income, commodities, gold) with the potential to outperform 100% equities with less overall risk as a potential portfolio puzzle piece or total portfolio solution.

RPAR ETF Overview, Holdings and Info
Let's pop open the hood of RPAR ETF to see what kind of goodies the fund has to offer investors!

RPAR Risk Parity ETF has plenty to offer investors, so we'll break things down by equity, fixed income and commodity sleeves.
RPAR ETF Equity Allocation
In terms of its equity sleeve it avoids home country bias by offering investors US, International Developed and Emerging Markets equities.
US equities take up half of the equation (12.5% of 25%) whereas Emerging Markets (7.5% of 25%) and International Developed (5% of 25%) round things out.
US vs Int-Dev vs EM Markets Correlations

Noteworthy, is a more sizeable allocation to Emerging Markets than to International Developed Markets.
From a correlations standpoint this contrarian decision makes some sense given that Emerging Markets are less correlated with US Markets in comparison to International Developed Markets:
US Stock Market: 0.75 (Emerging Markets) vs 0.85 (International Developed Markets)
Overall, I'm pleased that RPAR ETF has decided to go global, avoid home country bias and potentially ruffle some feathers by overweighting EM equities.
RPAR ETF Fixed Income Allocation

Here we can see that RPAR ETF is committed to a 35% allocation to US TIPS (15+ year) and a 35% slab dedicated towards US Treasuries (10 Year and Ultra via futures).

The 10-Year Treasury and Ultra Treasury are covered by capital efficient futures.
Let's examine the historical correlations between the three fixed income allocations.
RPAR Fixed Income Monthly Correlations

Fascinating for me to discover was that the 10-Year Treasury and Long Term Treasury are highly correlated (0.93) whereas TIPS provides a diversification benefit because it is less correlated to both the 10-Year Treasury (0.69) and Long-Term Treasury (0.64).
Hence, I'm in favour of adding TIPS to the mix but I'm left pondering whether the lack of short-term and intermediate-term treasuries is a potential liability at times?
RPAR Commodity Producing Equites + Gold Sleeve
RPAR ETF surprised some investors by deciding to go the route of Commodity Producing Equities versus straight up Commodity exposure.

RPAR ETF fulfills its Commodity Producing equities mandate with 141 stocks spreading out over 5.25% Energy, 5.25% Diversified Mining, 3.0% Agriculture, 0.75% Clean Energy and 0.75% Water.
I'm impressed with the overall level of diversification here but I'm left wondering if excluding commodities is the right call?
To round things out we've got a straight up allocation to SPDR GOLD MINISHARES TRUST ETF (GLDM) at 10%.

RPAR ETF Allocation Summary
35% TIPS 35% Treasuries (10 Year + Ultra)  15% Commodity Producing Equities12.5% US Equities10% Gold7.5% Emerging Equities5% Int-Dev Equities 
RPAR ETF Allocation Constructive Criticism
Prior to writing this article, I posted the following tweet:

I received some great constructive feedback which I encourage you to check out here.
Here is a brief summary of the biggest points of concern and overall constructive feedback offered by others.

Commodity producer equities not offering as much of a diversification benefit as a straight up commodity allocation.
Potentially too much duration exposure held at the wrong side of the curve (the most inefficient part).
What to pair RPAR ETF with as part of the total portfolio at large (static vs tactical vs adaptive components)?

RPAR Risk Parity ETF vs UPAR Ultra Risk Parity ETF
As mentioned earlier in the article, RPAR Risk Parity ETF has a more aggressive partner in crime that investors can potentially consider in UPAR Ultra Risk Parity ETF.
Let's examine the key differences and points of similarity.

The most important thing investors need to know when comparing RPAR ETF and UPAR ETF is that they are proportionally the same.
The only difference is that RPAR features an expanded canvas of 120% whereas UPAR ETF offers investors 168% real estate.
Thus, if you allocate to UPAR ETF you just get more of what RPAR ETF has to offer.
In effect, the extra oomph of UPAR ETF will amplify BOTH the good and bad times.
Hence, when the risk parity strategy is having a positive year UPAR will offer better returns.
When it's a down year it'll provide you with excess carnage.
Thus, whether or not you decide to allocate to RPAR or UPAR is based entirely upon how comfortable you are with utilizing additional leverage and whether (or not) you've got the chin to handle the more impactful uppercuts thrown during down years.
RPAR ETF Simulated Performance

UPAR ETF Simulated Performance

Returns + Risk since Inception: Global Equities (5.2% / 15.8%) vs RPAR (8.2% / 10.5%) vs UPAR (10.3% / 14.8%)Returns YTD (2022): Global Equities (-25.4%) vs RPAR (-28.4%) vs UPAR (-38.3%)

Hence, you can summarize RPAR and UPAR as follows:
RPAR ETF seeks to provide equity-like (or slightly better) returns with considerably less volatility than equities.
UPAR ETF seeks to provide considerably better returns than equities while having similar levels of volatility.
Let's highlight a few key years in particular.
2013: Global Equities (+26.7%) vs RPAR (-7.6%) vs UPAR (-10.8%)
All of your equity only buddies are doing backflips with glee over +26.7% returns while RPAR investors are downtrodden over -7.6% performance and UPAR unit holders are crying about -10.8%.
2011: Global Equities (-5.5%) vs RPAR (+14.0%) vs UPAR (+19.8%)
You friends who own all equity portfolios are sourpuss about being down -5.5% whereas RPAR investors are thrilled to be well above water at +14.0% whereas UPAR unit holders are over the moon about crushing +19.8%.
The two key takeaways from this is that when you own a different portfolio you've got to be prepared for different results (tracking error versus markets) and if you're dialing things up with UPAR you get to celebrate more when times are good while suffering succotash when things are not.

RPAR Risk Parity ETF: Principal Investment Strategy
To better understand the process of how the fund operates, let’s turn our attention towards the prospectus where I’ve summarized the key points at the very bottom (source: summary prospectus).
Principal Investment Strategies of the Fund
"The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily by investing across a variety of asset classes, including exposure to global equity securities, U.S. Treasury securities, and commodities. 
The Fund’s investment adviser seeks to invest the Fund’s assets to achieve exposures similar to those of the Advanced Research Risk Parity Index (the “RPAR Index”), a rules-based index created by Advanced Research Investment Solutions, LLC (“ARIS”). The RPAR Index The RPAR Index allocates its exposure to the four asset classes described below using a “risk-parity” approach that seeks to achieve an equal balance between the risk associated with each asset class based on the long-term historic volatility exhibited by each asset class. 
This means that lower risk asset classes (such as U.S. Treasury Inflation Protected Securities (“TIPS”)) will generally have higher notional allocations than higher risk asset classes (such as global equities). 
The RPAR Index seeks long-term risk exposure and long-term target allocations across asset classes as follows:
Long-Term Target Risk Allocation Long-Term Target Asset Allocation Asset Class Sub-Class 25% 35% TIPS Long-Term TIPS (15+ years) 25% 25% Global Equities U.S. Equities Non-U.S. Developed Markets Equities Emerging Markets Equities 25% 25% Commodities Commodity Producer Equities Gold 25% 15%* U.S. Treasuries U.S. Treasury Bills U.S. Treasury Futures * 
This figure represents the RPAR Index’s allocation to U.S. Treasury bills which serve as collateral for the RPAR Index’s allocation to U.S. Treasury futures. 
Total notional exposure to the U.S. Treasuries asset class will exceed 15% due to the RPAR Index’s allocation to 10-year U.S. Treasury note futures and Ultra U.S. Treasury Bond futures. 
The RPAR Index is rebalanced quarterly. In seeking to obtain exposures comparable to those of the RPAR Index, the Fund may invest in a combination of (i) U.S. Treasury securities (including TIPS), (ii) U.S. Treasury futures contracts, (iii) ETFs that track a broad-based index of equity securities for one or more asset classes (or sub-classes), (iv) individual equity securities or depositary receipts, such as American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”), representing an interest in foreign equity securities, and (v) other exchange-listed vehicles issuing equity securities (“ETVs”) (including ETFs, exchange-traded notes (“ETNs”) and exchange-listed trusts). 
TIPS are marketable securities whose principal is adjusted based on changes in the Consumer Price Index (“CPI”). With inflation (an increase in the CPI), the principal increases, and with deflation (a decrease in the CPI), the principal decreases. 
The relationship between TIPS and the CPI affects both the principal amount paid when a TIPS instrument matures and the amount of interest that a TIPS instrument pays semi-annually. 
When a TIPS instrument matures, the principal paid is the greater of the CPI-adjusted principal or the original principal. 
TIPS pay interest at a fixed rate. However, because the fixed rate is applied to the CPI-adjusted principal, interest payments can vary in amount from one period to the next. 
If inflation occurs, the interest payment increases. In the event of deflation, the interest payment decreases. 
The Fund may purchase TIPS of any maturity. The Fund will invest directly in U.S. Treasury securities or directly or indirectly in futures contracts to gain long exposure to U.S. Treasury bonds. 
The ETFs in which the Fund invests will typically be index-based ETFs that track a broad-based index that principally invests in equity securities of one or more asset classes set forth above (e.g., U.S. equities, non-U.S. developed market equities, emerging market equities, or gold as described below). 
Such ETFs will typically have net assets of at least $100 million and have aggregate volume over the last 90 days of at least 100,000 shares traded. 
The Fund may invest in ETFs to obtain exposure to the equity securities of commodity producers including in the energy (including clean energy), industrial metals, agriculture and water sectors. 
An ETV allows the Fund to indirectly obtain exposure to an underlying asset class such as futures contracts and commodities without directly trading futures or taking physical delivery of the underlying commodity. 
For example, the Fund may obtain exposure to gold by investing in an ETV that owns gold, rather than the Fund directly holding gold. 
In addition to achieving exposure to the global equities asset class indirectly through ETFs, the Fund may also invest directly in equity securities. 
The equity securities that may comprise the Fund’s equity positions include, but are not limited to, U.S.- listed common and preferred stock of domestic and foreign companies, including those in developed and emerging markets, real estate investment trusts (“REITs”), and ADRs. 
Such securities may be issued by small-, mid-, or large-capitalization companies. 
ADRs are securities traded on a U.S. stock exchange that represent interests in securities issued by a foreign publicly listed company. 
Under normal market conditions, the Fund’s investment adviser will typically buy or sell investments to reflect the quarterly rebalance of the RPAR Index, rather than based on an individual determination of which investments are most attractive at a given time."

Elephant In The Room: Bad YTD Results For RPAR ETF
Let's finally address the elephant in the room.
Why have results for RPAR ETF been so bad this year?
Two reasons.
Firstly, it has been the worst year on record (50+ years of data) for long-only broadly diversified portfolios.
Secondly, the additional leverage (20% for RPAR and 68% for UPAR) has amplified what has been bad to begin with and made it even more brutal.
Harry Browne Permanent Portfolio Annual Returns

2022 Returns: -17.00%Previous Worst Year: -5.46 (1981)
Ray Dalio All-Weather Portfolio

2022 Returns: -19.26%Previous Worst Year: -3.66% (2015)
It's been so bad this year that a popular investing adage has been modified: "Diversification is your only free lunch except for in 2022!
Stocks, Bonds and Gold Down Together
I wrote an article in August entitled: "Is this a generational buying opportunity for long-only diversified portable beta investing strategies?"
I was pondering this very question because I had examined how "rare" it is for stocks, bonds and gold to be down together at the same time.
1972 to 2022 Stocks, Bonds and Gold Returns
Let’s take a look at the big picture of annual returns from 1972 to 2022 for US Large Cap Equities, 10-Year Treasury and Gold.
3 UP / 0 DOWN = 18 (1972, 1979, 1982, 1985, 1986, 1993, 1995, 2003, 2004, 2005, 2006, 2007, 2010, 2011, 2012, 2016, 2017, 2019, 2020)2 UP / 1 DOWN = 23 (1973, 1974, 1975, 1976, 1977, 1978, 1980, 1983, 1984, 1987, 1988, 1989, 1991, 1992, 1997, 1998, 1999, 2001, 2002, 2008, 2009, 2014, 2015)1 UP / 2 DOWN = 08 (1981, 1990, 1994, 1996, 2000, 2013, 2018, 2021)0 UP / 3 DOWN = 01 (2022)
2022 sticking out like a sore thumb?
3 UP / 0 DOWN = 36%2 UP / 1 DOWN = 46%1 UP / 2 DOWN = 16%0 UP / 3 DOWN = 2%
If we group these together we’re flying high with 2 or 3 engines 82% of the time.
On the other hand, we’re flying low with 0 or 1 engines only 18% of the time.

RPAR ETF Pros and Cons
Let’s examine the pros and cons of RPAR Risk Parity ETF.

RPAR ETF Pros

Massive diversification between asset classes: Equities (US, Int-Dev, EM), Bonds (10-Year, Long-Term, TIPS), Commodities (Gold, Commodity Equity Producers) all together under one hood
Modest amount of leverage (20%) to help boost returns which historically have been better than global equities with less risk (simulated back-tests)
Risk Parity investing belongs in the same class as the Harry Browne Permanent Portfolio and Ray Dalio All Weather Portfolio for grouping asset classes based upon historical volatility levels rather than by returns
Fixed income (TIPS + 10-Year + Long-Term Treasury) receives higher allocations (lower standard deviation) whereas global equities, gold and commodity producing equities receive less space (higher standard deviation)
The addition of an "alternative sleeve" with exposure to gold, commodity producing equities and TIPS which are not in many standard 60/40 portfolios
The potential to combine this strategy with tactical and/or adaptive asset allocation funds to form a dynamic all-seasons powerhouse portfolio

RPAR ETF Cons

YTD results reveal a "new low" for broadly diversified long-only portfolios and with modest leverage applied this adds insult to injury along with tracking error (see simulated results for 2013)
Feedback from other investors suggesting concern over "commodity producing equities" over commodities and "interest rate risk" for the longer duration fixed income portion of the portfolio

RPAR Potential Portfolio Solutions
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Now that we’ve taken a thorough look at RPAR ETF let’s see how it can potentially fit into a portfolio at large.

RPAR ETF Total Portfolio Solution
Does RPAR ETF have the potential to be a total portfolio solution?
It sure does.
If you compare it with a typical 60/40 portfolio it offers more broad global diversification (equities) along with extra diversifiers such as TIPS, gold and commodity producing equities.
RPAR and/or UPAR and done.
You betcha.
100% RPAR ETF / UPAR ETF

RPAR ETF 3 Fund Diversified Quant Portfolio
Although RPAR ETF has the potential to be a one-ticket portfolio solution it pairs nicely with other strategies such as the following 3 fund diversified quant portfolio:
40% RPAR / UPAR40% DBMF20% VAMO
Here we've got a 3 ETF portfolio solution offering investors the diversified Risk Parity strategy along with a managed futures and long-short factor focused equities with tactical beta hedges.

The results of this portfolio are not too shabby at all.
Returns greater than risk.
9.08% vs 7.57%.
High Sharpe Ratio and Sortino Ratio.
Above water every year (including 2022).
I'd be thrilled to ride with this long-term versus a 60/40 portfolio.
Annual Returns Of Portfolio Assets 

And for critics eager to suggest RPAR has been a drag on the portfolio (after a challenging 2022) feast your eyes upon the returns of 2020.
As with any strategically diversified portfolio you'd want certain puzzle pieces to perform well when others are not.
RPAR the top dawg in 2020.
VAMO the robust beast in 2021.
DBMF the saviour in 2022.
Uncorrelated strategies zigging and zagging while overall conspiring to keep your portfolio above water.

What Others Have To Say About RPAR ETF
Now that we’ve covered a few different portfolio solutions let’s see what others have to say about the fund for those who prefer video format.

What Evoke Advisors Have To Say About RPAR ETF
Here we can learn more about the strategy behind RPAR and UPAR straight from the Evoke Advisors crew.

Nomadic Samuel filming while visiting beautiful Vancouver Island, British Columbia, Canada
RPAR Risk Parity ETF — 12-Question FAQ
1) What is RPAR in one sentence?
RPAR is a risk-parity, long-only asset-allocation ETF that balances risk across global equities, U.S. Treasuries (nominal + TIPS), commodity-producer equities, and gold, using modest leverage to target equity-like returns with lower volatility over a full cycle.
2) What does “risk parity” actually mean?
Instead of sizing assets by dollars, risk parity sizes by volatility, giving more weight to historically steadier assets (e.g., Treasuries, TIPS) and less to volatile ones (equities, gold) so that each sleeve contributes more evenly to total portfolio risk.
3) How is RPAR’s target mix constructed?
Long-term targets (by asset class exposure) are roughly: TIPS, Treasuries, global equities, commodity-producer equities, and gold, with the bond sleeves getting the largest notional because they’re lower volatility, and the portfolio is rebalanced quarterly to stay near targets.
4) Why does RPAR use commodity-producer equities instead of direct commodities?
RPAR emphasizes listed producers (energy, diversified miners, agriculture, clean energy, water) plus a dedicated gold sleeve, seeking inflation sensitivity via equities of commodity businesses; the trade-off is that producers carry equity beta and may not track spot commodities one-for-one.
5) How does RPAR differ from UPAR?
They are proportionally similar, but UPAR uses more leverage (expanded canvas), amplifying both upside and drawdowns. RPAR ≈ lower-vol, equity-like return target; UPAR ≈ higher return target with equity-like volatility.
6) Why did RPAR struggle in 2022?
2022 was an unusually bad year when stocks, bonds, and gold fell together, hurting diversified long-only portfolios; modest leverage in RPAR magnified what was already a historically rare environment for portable beta.
7) What role do TIPS and Treasuries play here?
They’re the stability and deflation/flight-to-quality hedges, and TIPS add inflation linkage; together they’re sized large (by risk parity logic) to keep portfolio volatility in check while equities/real-asset sleeves pursue growth and inflation sensitivity.
8) Is RPAR meant to replace a 60/40?
It can be used as a one-ticket core or as a diversifying sleeve; versus 60/40, risk parity historically shows smoother drawdowns and better risk-adjusted metrics, though it can lag in some bull markets or in unusual cross-asset selloffs.
9) What are the main risks?

Cross-asset selloffs (rare, but 2022-like)

Duration/interest-rate risk (heavy Treasury/TIPS exposure)

Equity beta in commodity producers (not pure commodity exposure)

Tracking error versus cap-weighted equity benchmarks

Leverage magnification (works both ways)

10) How might investors pair RPAR inside a broader plan?
Common approaches: keep RPAR as a core, then add managed futures / trend for adaptability, or pair with factor/tactical equity sleeves—aiming for a mix of static diversification (RPAR) + adaptive diversifiers.
11) How often does RPAR rebalance and why does it matter?
The index rebalances quarterly to maintain the intended risk balance among sleeves; without periodic rebalance, drifting weights could re-concentrate risk in whichever sleeve rallied last.
12) Is this financial advice?
No. This FAQ is educational/entertainment only and doesn’t account for your circumstances. Do your own research and consult a qualified advisor.
Nomadic Samuel Final Thoughts
I feel like the YTD results of 2022 for a fund like RPAR are revealing in many ways.
The performance of the fund is of less concern as is the education and patience levels of most investors.
I've heard a lot of jeers and criticism thrown at RPAR and UPAR ETF.
Risk Parity doesn't work!
This sucks severely!
Yet how many of these critics/investors (who are over the moon thrilled to hurl stinky banana peels) are aware of the fact that this is the first year since 1972 that US Large Cap Equities, 10-Year Treasury and Gold are down together.
Risk Parity investment strategies do not promise to be above water every single year.
The irrational expectations of many investors leaves me shaking my head at times.
You're promised a strategy and to achieve the desired results you want, patience is required not optional.
However, I think we can all learn one important lesson from a year like this one.
Even the most diversified long-only portfolios benefit greatly from having adaptive and tactical wingmen.
If you consider the model portfolio I've suggested to pair with RPAR (40% RPAR, 40% DBMF, 20% VAMO) you'll notice that each one of these funds took turns picking up the so-called tab.
RPAR = 2020VAMO = 2021DBMF = 2022
Diversify.
Diversify.
And then diversify some more.
That's the name of the game IMO.
Anyhow, we're close to 3000 words as we're breaking new territory with the longest ETF review on this blog.
So let's wrap things up.
What do you think of RPAR ETF?
Do you think it is a decent long-term investment strategy or have 2022 YTD results scared you off permanently?
I'd be more than curious to know.

#### RSSB ETF Review:  Return Stacked Global Stocks & Bonds ETF Review
When I survey the landscape of capital efficient ETFs I'm hard-pressed to find a fund provider that has made a bigger impact in recent months than the Return Stacking crew.
In 2023, they launched three unique products which all adhere to a formula of $1 invested gives you exposure to 100% A plus 100% B.

RSBT ETF = 100% Bonds + 100% Managed Futures (Trend)RSST ETF = 100% US Equities + 100% Managed (Trend)RSSB ETF = 100% Global Equities + 100% Bonds (US Treasury Futures)

For a while it appeared that their Global Stocks and Bonds ETF was going to be a 90/60 fund, but I was thrilled on a personal level (and I think it was also a great decision on their part) that it distinguished itself from another capital efficient trio of 90/60 equity plus bonds products from WisdomTree.
NTSX ETF = 90% US Equities / 60% BondsNTSI ETF = 90% Int-Dev Equities / 60% BondsNTSE ETF = 90% Emerging Equities / 60% Bonds
So what is different and unique about RSSB ETF?

Global Equities
More Capital Efficient
Better Bang For Your Capital Efficient Buck

It's crucial to zoom in specifically on point number 3.

If maximum capital efficiency is your primary goal to create space in your portfolio for other asset classes and strategies (it sure is for me) you'd need to commit 67% of your resources with NTS(X,I,E) to accomplish the mandate of a 60/40 portfolio.
In other words, 67% of NTS(X,I,E) = 60/40 portfolio exposure.
You've got 33% resources leftover for something else.
Don't get me wrong, that's not too shabby at all!
However, look at what we can potentially do with 67% of our resources allocated to the following:
40% RSSB - 100% Equities / 100% Bonds20% RSST - 100% Equities / 100% Managed Futures (Trend)7% GDE - 90% Equities / 90% Gold Futures
We're considerably more capital efficient with this trio:
66.3% Equities40% Bonds20% Managed Futures (Trend)6.3 % Gold
Not only do we have a 60/40 (plus 6.3% additional equities) but we've also started to carve out space for an alternative sleeve with both managed futures and gold.
With that 67% space we've built ourselves a balanced portfolio (60/40) and we've efficiently added two uncorrelated alternatives to the mix.
You've gotta like that!

In many regards it reminds me of the movie scene where Captain Richard Phillips is taken hostage by Somali Pirates:
RSSB to NTS(X,I,E): "Look at me. Look at me. I'm the Captain now!" 

Indeed, if you're seeking maximum capital efficiency as an investor there is a new captain aboard the equities plus bonds vessel.
Its name is Return Stacked Global Stocks & Bonds ETF.
AKA RSSB ETF.

Review of RSSB ETF : Reviewing Return Stacked Global Stocks & Bonds ETF
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
RSSB ETF Overview, Holdings and Info
The investment case for “Return Stacked Global Stocks and Bonds” has been laid out succinctly by the folks over at Return Stacked ETFs: (source: fund landing page)
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Investment Case

"Capital Efficiency and Diversification.  Replacing core stock and bond exposure with RSSB frees up capital to invest in diversifying asset classes and strategies.
Reduce Cash Drag.  Utilize the embedded capital efficiency in RSSB to hold cash without necessarily losing core stock and bond exposure.
Avoiding 100% Equities for Growth Clients.  Reduce equity concentration for growth clients by introducing a second, potentially diversifying source of returns.
*Diversification does not assure a profit.*"
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Fund Overview

"The Fund seeks long-term capital appreciation by investing in two complimentary investment strategies: a Global Equity strategy and a U.S. Treasury Futures strategy. For every $1 invested, the Fund attempts to provide $1 of exposure to its Global Equity strategy and $1 of exposure to its U.S. Treasury Futures strategy.
The Global Equity strategy seeks to capture the total return of global equities on a market capitalization-weighted basis, investing in global equities, global equity ETFs, regional equity ETFs, or equity index futures.
The U.S. Treasury Futures strategy seeks to provide exposure to the U.S. Treasury bond market by investing in U.S. Treasury futures contracts with maturities ranging from 2 to 30 years."
RSSB ETF: Fund Selection Process
To better understand the process of how the fund operates, let’s turn our attention towards the summary prospectus where I've highlighted the key points at the very bottom. (source: summary prospectus)
Principal Investment Strategies:

Principal Investment Strategies
"The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in large-capitalization global equity securities, global equity ETFs (or a combination of other ETFs that together provide global equity market exposure), and futures contracts that provide the Fund with exposure to the performance of the U.S. Treasury bond market.
In addition, the Fund will hold U.S. Treasury bills and other high-quality securities as collateral for the futures contracts as well as to generate income. The Fund uses leverage to “stack” the total return of holdings in the Fund’s global equity strategy together with the potential returns of the Fund’s U.S. treasury futures contract strategy.
Essentially, for each dollar invested in the Fund, it provides about 90 cents of exposure to the Fund’s global equity investments and about 60 cents of exposure to investments in the Fund’s U.S. Treasury futures strategy. So, the return of the Fund’s U.S. Treasury futures strategy is stacked on top of the returns of the Fund’s global equity strategy. 12 Under normal circumstances, the Fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in (a) global equity securities and ETFs that, in the aggregate, provide exposure to the global equity markets, and (b) U.S. Treasury future contracts that provide the Fund with indirect exposure to the performance of the U.S. treasury bond market.
The Fund’s “80%” policy is nonfundamental and can be changed without shareholder approval. However, Fund shareholders would be given at least 60 days’ notice prior to any such change."
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Global Equity Exposure:
"The Fund may invest in the equity securities of companies located throughout the world (e.g., in the United States, other developed markets (e.g., Europe), and emerging markets). Under normal conditions, the Fund will invest at least 40% of its assets (unless market conditions are not deemed favorable, in which case the Fund would invest at least 30% of its assets) in companies in multiple countries outside of the Unites States (i.e., non-U.S. companies).
In determining whether a company is a U.S. or non-U.S. company, the Fund’s sub-adviser, Newfound Research, LLC (the “Sub-Adviser”) primarily considers the location of the principal trading market for the company’s common stock, and may also consider other metrics, such the location of the company’s corporate or operational headquarters or principal place of business.
The Sub-Adviser will seek to construct the Fund’s global equity portfolio to reflect the overall global equity markets on a market capitalization weighted basis. To do so, the Fund will invest in global equity ETFs, which are ETFs that invest primarily in the equity securities of companies located throughout the world, or other broad-based ETFs that provide exposure to the global equity market. For example, rather than hold a global equity ETF, the Fund may hold multiple ETFs that, together, provide similar exposure (e.g., a combination of U.S. equity ETFs, international equity ETFs, and emerging markets ETFs).
The Fund’s investment in global equity ETFs (or a combination of ETFs providing global equity market exposure) will generally comprise between 80% and 90% of the Fund’s portfolio. In addition, the Fund may invest in foreign equity securities directly."

U.S. Treasury Futures Exposure:
"To provide the Fund with exposure to performance of the U.S. Treasury bond market, the Fund will invest in U.S. Treasury future contracts, which are contracts for the purchase and sale of U.S. government notes or bonds for future delivery. The Fund will invest in futures contracts on U.S. Treasuries with maturities ranging from 2 to 30 years, with a target duration of 2 to 8 years.
Under normal circumstances, the Fund’s aggregate U.S. Treasury futures contracts position will represent a “notional exposure” (i.e., the total underlying amount of exposure created by a derivatives trade) of approximately 60% of the Fund’s net assets. Note: Notional value is the total underlying amount of a derivatives trade. Leverage allows an investor (like the Fund) to use a small amount of money to theoretically control a much larger amount. So, notional value reflects the total value of a trade, not the cost (or market value) of taking the trade. Futures contracts have a limited lifespan before they expire (e.g., quarterly).
The Fund will frequently “roll-over” futures contracts - replace an expiring contract with a contract that expires further in the future. As a result, the Fund’s portfolio will be subject to a high portfolio turnover rate."
________________________________________________________________________________________________

"This supplement provides technical clarifications to the principal investment strategy description of the Return Stacked® Global Stocks & Bonds ETF (the “Fund”).
In particular, the description is being revised to clarify the Fund’s ability to invest in individual equity securities and equity index futures contracts, and to reflect the Fund’s target exposure to the Fund’s global equity investments and the Fund’s U.S. Treasury futures strategy.
The last two sentences of the first paragraph under “Principal Investment Strategies” in the “Fund Summary” section are amended and restated to read as follows: Essentially, one dollar invested in the Fund provides approximately one dollar of exposure to the Fund’s global equity investments and approximately one dollar of exposure to the Fund’s U.S. Treasury futures strategy.
So, the return of the U.S. Treasury futures strategy (minus the cost of financing) is essentially stacked on top of the returns of the global equity strategy. The second paragraph under the sub-heading “Global Equity Exposure” is deleted and replaced with the following:
The Sub-Adviser will seek to construct the Fund’s global equity portfolio to reflect the overall global equity markets on a market capitalization weighted basis.
To do so, the Fund will invest in global equity ETFs (which are ETFs that invest primarily in the equity securities of companies located throughout the world), other broad-based ETFs that provide exposure to the global equity market, individual equity securities, and equity index futures contracts.
For example, rather than hold a global equity ETF, the Fund may:
● Hold multiple ETFs that, together, provide similar exposure (e.g., a combination of U.S. equity ETFs, international equity ETFs, and emerging markets ETFs);
● Hold individual securities that, together, provide similar exposure (e.g., through a basket of securities representing the underlying holdings of a global equity ETF);
● Hold equity index futures contracts that, together, provide similar exposure; or
● Employ a combination of the above holdings, so the aggregated investment provides similar exposure.
The Fund’s investment in global equity ETFs (or a combination of ETFs, individual securities providing global equity market exposure) will generally comprise between 75% and 80% of the Fund’s portfolio.
The remaining exposure to global equities will generally be achieved through equity index futures. The equity index futures may be linked to leading indices from developed, emerging, and global markets.
The last sentence of the first paragraph under the sub-heading “U.S. Treasury Futures Exposure” is amended and restated to read as follows: Under normal circumstances, the Fund’s aggregate U.S. Treasury futures contracts position will represent a “notional exposure” (i.e., the total underlying amount of exposure created by a derivatives trade) of approximately 100% of the Fund’s net assets.
The paragraph under the sub-heading “Collateral – U.S. Treasury Futures” is amended and restated to read as follows:
The Fund expects to invest approximately 0% to 25% of its net assets in U.S. Treasury bills, money market funds, cash, and cash equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality, as the Adviser or Sub-Adviser determines), that provide liquidity, serve as margin or collateralize the Fund’s investments in futures contracts."

Return Stacked Globals Stocks and Bonds Key Points

Active Management Strategy: The Fund operates as an actively-managed exchange-traded fund (ETF) focusing on achieving its investment objective through strategic investments.
Primary Investment Focus: It primarily invests in large-capitalization global equity securities, global equity ETFs, or combinations of ETFs that offer global equity market exposure, and futures contracts related to the U.S. Treasury bond market.
Use of Leverage: The Fund employs leverage to enhance the total return of its holdings, combining the returns from its global equity strategy with the potential returns from its U.S. Treasury futures strategy. Specifically, for each dollar invested, approximately 90 cents are exposed to global equities and 60 cents to U.S. Treasury futures. *(Now 100 cents global equities and 100 cents US. Treasury Futures)*
Investment Allocation Policy: At least 80% of the Fund's net assets, plus any borrowings for investment purposes, are allocated towards global equity securities, ETFs providing global equity market exposure, and U.S. Treasury future contracts.
Nonfundamental 80% Policy: This policy is nonfundamental and can be changed without shareholder approval, albeit with a 60-day notice to shareholders before any changes.
Global Equity Investment Approach:

The Fund invests globally, including in the U.S., other developed markets, and emerging markets.
At least 40% of its assets are invested in non-U.S. companies under normal conditions, which can be reduced to 30% if market conditions are deemed unfavorable.
Investments may include direct equity securities, global equity ETFs, or a mix of ETFs that collectively mimic global equity exposure.

U.S. Treasury Futures Strategy:

Investments in U.S. Treasury future contracts aim to provide exposure to the U.S. Treasury bond market, with a focus on futures with maturities ranging from 2 to 30 years and a target duration of 2 to 8 years.
The notional exposure of U.S. Treasury futures contracts is about 60% of the Fund's net assets, reflecting leverage use.

High Portfolio Turnover: Due to frequent rollovers of futures contracts, the Fund is likely to experience a high portfolio turnover rate.
Collateral and Income Generation: The Fund holds U.S. Treasury bills and high-quality securities as collateral for futures contracts and to generate income.
Technical Clarifications and Adjustments:

The Fund has clarified its strategy to include investments in individual equity securities and equity index futures contracts, adjusting its exposure targets for global equity investments and U.S. Treasury futures strategy.
It now provides approximately equal exposure to both its global equity investments and U.S. Treasury futures strategy, aiming for a 1:1 dollar exposure ratio.
The global equity portfolio is designed to mirror the global equity markets on a market capitalization weighted basis, involving a mix of global equity ETFs, individual securities, and equity index futures.

Portfolio Composition Changes:

The investment in global equity ETFs or a combination providing global equity market exposure will comprise between 75% and 80% of the Fund’s portfolio.
The remaining exposure to global equities will be achieved through equity index futures linked to major indices across developed, emerging, and global markets.

U.S. Treasury Futures Exposure Adjustment: The notional exposure of U.S. Treasury futures contracts has been adjusted to approximately 100% of the Fund’s net assets.
Collateral for U.S. Treasury Futures: The Fund plans to invest between 0% and 25% of its net assets in U.S. Treasury bills, money market funds, cash, and cash equivalents for liquidity, serving as margin, or collateralizing its futures contracts investments.

RSSB ETF Info
Ticker: RSSBCanvas Size: 200% Total = (100% Global Stocks + 100% Bonds)Net Expense Ratio: 0.41AUM: 70.54Inception: 12/04/2023

RSSB ETF Strategy Pros and Cons
Let’s move on to examine the potential pros and cons of RSSB ETF.
RSSB Pros: Distinct Advantages

Features a unique combination of 100% US Equities and 100% Treasury Futures, offering investors a distinctive capital-efficient tool.
The first of its kind capital-efficient 100% global equities + 100% Treasury Futures ETF with 100/100 exposure of both asset classes
Flexibility to pair this with other capital efficient building blocks (e.g., managed futures, gold, m/n, style premia, otm put, etc).
Option to pair with other capital efficient funds to create a 60/40 portfolio + alternatives
Compatibility with various other capital-efficient ETFs and Mutual Funds to craft a personalized return stacking design.
More capital efficient exposure to stocks and bonds 100/100 compared to 90/60 NTS(X,I,E) WisdomTree suite
No home country bias with this product as it is Global Equities as opposed to US only
Creates room in your portfolio for alternative diversified diversifiers like global systematic macro, gold, market-neutral strategies, long-short equity, style premia, catastrophe bonds, arbitrage, bitcoin, etc.
Competitive management fee for a fund offering 200% expanded canvas coverage

RSSB Cons: Potential Limitations

For investors seeking very specific exposures to US, Int-Dev and EM equities and less leverage the NTS(X,I,E) suite might be a better fit
Likely best suited for tax advantaged accounts due to potential gains/losses with futures contracts

RSSB ETF Model Portfolio Ideas
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
RRSB ETF is a powerful puzzle piece that allows investors to build the capital efficient portfolio of their dreams.
Let's explore a few different options.

Return Stacking Maximum Diversification 3 Fund Portfolio
Model Portfolio:
40% RSSB20% QLEIX40% QDSIX
Exposures:
40% Global Equities20% L/S Global Equities40% Bonds (U.S. Treasuries)40% Diversified Alternatives (6 distinct strategies including style premia, m/n equities, macro, managed futures, etc)
Expanded Canvas: 140%
That's it.
You're done.
With just three funds you've built an exceptionally well diversified portfolio.

Return Stacking Tactical Portfolio
If you're keen to create a portfolio with an offensive and defensive mode let's explore how you can do just that.
Model Portfolio:
40% RSSB20% RSST20% HCMT10% CAOS10% BTAL
Exposures:
Offensive Mode
100% Equities40% Bonds (US Treasuries)20% Managed Futures10% OTM PUT10% M/N Anti-Beta
Defensive Mode
60% Equities40% Bonds (US Treasuries)20% Managed Futures20% Cash10% OTM Put10% M/N Anti-Beta
Expanded Canvas: 180% in offensive mode and 160% in defensive mode

Return Stacking 10+ Strategies Under One Hood Portfolio
For investors seeking a maximally diversified portfolio (10 strategies / 9 funds) with a desire to keep things within the ETF universe the following may be of interest:
Model Portfolio:
20% RSSB ETF20% RSBT ETF20% GDE ETF20% QIS ETF4% BTAL ETF4% CAOS ETF4% SVOL ETF4% FBTC ETF4% LBAY ETF
Exposures:
58% Equities40% Bonds (US Treasuries)20% Managed Futures Trend18% Gold10% QIS Multi-Strategy Alt4% M/N Anti-Beta4% OTM Put4% Short Vol4% Bitcoin4% L/S Equity
Expanded Canvas: 166%

12-Question FAQ — Return Stacked Global Stocks & Bonds ETF (RSSB) Review
1) What is RSSB and why is it notable?
RSSB (Return Stacked Global Stocks & Bonds ETF) is a capital-efficient “stacked” ETF designed so that each $1 invested targets ~$1 of global equity exposure and ~$1 of U.S. Treasury futures exposure. That 100/100 design can free up space in a portfolio for additional diversifiers while preserving core stock/bond exposure.
2) How does RSSB compare to WisdomTree’s 90/60 trio (NTSX/NTSI/NTSE)?
WisdomTree’s funds target 90% equities + 60% bonds (U.S., international developed, or EM), whereas RSSB targets ~100% global equities + ~100% U.S. Treasury futures. Practically, RSSB can deliver more “bang for your buck” in capital efficiency and, being global in scope, avoids a home-country equity bias.
3) How does the capital efficiency translate into portfolio design?
Because RSSB stacks two return streams into the same dollar, you can recreate a 60/40 core with less capital and use the freed space for diversifiers. For example, allocating 40% RSSB + 20% RSST + 7% GDE inside a 67% sleeve can approximate ~66% equities, 40% bonds, 20% managed futures, and ~6% gold, delivering a balanced core plus alternatives within the same capital.
4) What is RSSB trying to do under the hood?
The fund actively combines:

A Global Equity strategy seeking market-cap-weighted global equity beta (via global/region ETFs, individual securities, or equity index futures), and

A U.S. Treasury Futures strategy (2–30-year maturities) to add a stacked bond return stream on top of equities.

5) How does the Global Equity sleeve work in practice?
Under normal conditions, the portfolio keeps broad global equity exposure with at least 30–40% in non-U.S. companies. The sub-adviser can mix global ETFs, regional ETFs, individual stocks, and equity index futures so the aggregate resembles cap-weighted global equities.
6) How does the U.S. Treasury Futures sleeve work?
RSSB uses exchange-traded U.S. Treasury futures across the curve (target 2–8 years duration overall) and rolls those contracts as they near expiry. It holds T-bills/cash for margin and collateral and may have higher turnover in the futures sleeve due to rolling.
7) Did the fund update its exposure targets?
Yes. A technical clarification aligned the design to ~$1 global equities + ~$1 U.S. Treasury futures per $1 invested (i.e., ~100/100), with the global sleeve expressed via a mix of ETFs, individual equities, and equity index futures, and the Treasury futures notional set around 100% of net assets.
8) What are the key reasons to consider RSSB?
Capital efficiency & diversification: Replace part of your core 60/40 with RSSB to free capital for uncorrelated sleeves (managed futures, gold, style premia, market-neutral, etc.). It may also reduce cash drag and temper equity concentration for growth-tilted allocations by adding a second, potentially diversifying return stream.
9) What are the main caveats?
If you want granular regional equity tilts with lower leverage, WisdomTree’s 90/60 suite might suit you better. Also, because RSSB uses futures, many investors prefer it in tax-advantaged accounts to simplify tax treatment of gains/losses from derivatives.
10) What are the fund facts?
Ticker: RSSBTarget Canvas: ~200% (≈100% global equities + ≈100% U.S. Treasuries)Net Expense Ratio: 0.41%AUM: ~70.5MInception: 12/04/2023
11) What are example model portfolios using RSSB?

Maximum Diversification (3-Fund): 40% RSSB, 20% QLEIX, 40% QDSIX → ~40% global equities, 40% bonds, 20% L/S equities, 40% multi-alts (expanded canvas ~140%).

Tactical (Offense/Defense): 40% RSSB, 20% RSST, 20% HCMT, 10% CAOS, 10% BTAL → Offense: 100% equities, 40% bonds, 20% trend, 10% OTM put, 10% anti-beta; Defense: 60% equities, 40% bonds, 20% trend, 20% cash, 10% OTM put, 10% anti-beta (canvas ~180%/160%).

10+ Strategies, All-ETF: 20% RSSB, 20% RSBT, 20% GDE, 20% QIS, 4% each of BTAL/CAOS/SVOL/FBTC/LBAY → ~58% equities, 40% bonds, 20% trend, 18% gold, 10% multi-strategy, 4% anti-beta, 4% OTM put, 4% short vol, 4% bitcoin, 4% L/S equity (canvas ~166%).

12) What’s the bottom line from this review?
For investors who prize capital efficiency and want room for uncorrelated alternatives—without abandoning a core stock/bond backbone—RSSB is a compelling “new captain of the ship.” The 100/100 design makes it a versatile building block for expanded-canvas portfolios.Note: This review is for entertainment/education only and not investment advice. Do your own research and consider consulting a financial professional.
Nomadic Samuel Final Thoughts
If you haven't guessed it already, I'm a big fan and investor in RSSB ETF!
It's an important capital efficient puzzle piece in my expanded canvas portfolio.
Those 100/100 stacked combos are on point.

But at this point in the review I'm more interested in what you've got to say.
What do you think of RSSB ETF?
Are you a capital efficient investor?

#### RSST ETF Review: Return Stacked U.S. Stocks & Managed Futures ETF Review
You're probably wondering if I've run out of things to return stack!
I mean we've witnessed dosas piled up to the heavens above, triple burger feasts and a mountain of pancakes on this investing blog.
Do I have any other tricks up my sleeve?
It turns out I do!

A few years back, I visited Tokyo, Japan where I heard rumours of an 8 flavour ice cream cone.
Being the absolute glutton that I am, of course, I had to check it out.
So I went in search of this "return stacked" Japanese ice cream in some nondescript basement of a shopping mall in Tokyo.
And folks I eventually found it.
I can't recommend a better way to expand your waistline and/or drift off into a pre-diabetic coma than trying to consume all 8 scoops but somehow I pulled it off.

But we're not here today to discuss my lack of self-control when it comes to food.
We're here to unpack an exciting new "return stacking strategy" that manifested itself recently in the form of RSST ETF.
It's better known as Return Stacked US Stocks & Managed Futures.
For every $1 spent you get 1$ exposure to US large-cap equities + $1 to a Managed Futures strategy.
2 for 1.
It's easily one my favourite ETFs of the year and quite frankly a superstar when it comes to expanded canvas products in the marketplace.
In my opinion, it's one of the most versatile capital efficient puzzle pieces out there.
So, without further ado, let's review RSST ETF.
Nomadic Samuel about to devour return stacked Japanese ice cream in Tokyo, Japan
The Potential Benefits Of Managed Futures

Ladies and Gentlemen, Princes and Princesses, Knights in Shining Armor, and perhaps the occasional Pirate — gather around! Today, we shall embark on a whimsical journey to the magical realm of Managed Futures. Now, I understand that you might have been expecting dragons, unicorns, or perhaps a sprinkling of fairy dust, but bear with me. The world of Managed Futures is filled with its own breed of magic, especially for your investment portfolio.
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Diversification Delight: Managed futures are like the rainbow sprinkles on an investment sundae. Who wants a bland, one-flavor portfolio? Not I! And neither should you. With managed futures, you get to sprinkle some of that non-correlated asset goodness into your holdings. It's like having both chocolate and vanilla. Or better yet, rocky road with a side of mint chip.
Ride the Wave: Ever tried surfing? It's all about catching the right wave. Managed futures strategies can go both long (ride the wave up) and short (ride the wave down). So, whether the market's doing the cha-cha slide or the moonwalk, you've got some moves to groove with it.
The Cool Under Pressure Award: When the financial markets are throwing tantrums like a toddler denied candy, managed futures are that cool kid in the corner, sipping a juice box with poise. They tend to exhibit low correlation with traditional asset classes, offering potential stability during market meltdowns. The kind of friend you want around when the proverbial investment ice cream hits the fan.
Global Party: Why limit yourself to one playground? Managed futures party globally! They can access a broad range of global markets, from grains in Graceland to metals in Middle-earth. Okay, maybe not Middle-earth, but you get the picture.
Flexibility Gymnastics: Managed futures funds can change their asset exposure on a dime. They’re more flexible than a contortionist at a circus. Whether it’s the shift from equities to commodities or from bonds to currencies, these funds can pirouette with grace.

In short, if you’re looking for a whimsical addition to your portfolio's investment party, managed futures might just be the disco ball you’ve been waiting for. Dance on, savvy investor, dance on!
RSST Portfolio Structure
source: returnstackedefts.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Why Return Stack US Equities With Managed Futures?
Picture this: US equities and managed futures decide to throw a soirée. What's on the agenda? Nothing short of the grandest, most exhilarating investment shindig of the century! Let’s dive into why this is the duo you didn't know you needed.

The Peanut Butter & Jelly Principle: Just as these two sandwich superstars complement each other’s strengths, US equities provide the solid bread and butter (or, ahem, peanut butter) of growth and dividends. Managed futures, on the other hand, are the zesty jelly, adding flavor with their dynamic strategies. Alone, they're delightful. Together? Culinary (and financial) bliss.
Diversification’s Dashing Dance: In the ballroom of investments, US equities are the ever-popular waltz, while managed futures are the unexpected tango. When the stock market decides to have an off day (or month, or year…), managed futures might just sweep in, twirling and saving the dance. Their typically non-correlated performance means when equities dip, managed futures can cha-cha real smooth.
The Bouncer at the Portfolio Club: Market volatility is like that one party crasher who wasn’t invited but shows up anyway. But don’t fret! Managed futures, with their global market strategies and long-short positions, act as the portfolio's bouncer. They can handle market rowdiness, ensuring the party goes on.
The Global Tour: If US equities are the home band playing your favorite familiar tunes, managed futures are the globetrotting DJ, bringing in beats from commodities in Cairo to currencies in Canberra. It’s a world tour right in your portfolio, ensuring you're grooving to diverse investment rhythms.
Fashion Forward: In the ever-trending world of investments, having both US equities and managed futures is akin to sporting both timeless classics and avant-garde haute couture. Equities? Your trusted tuxedo. Managed futures? That bold statement piece everyone's raving about.

Aa blend of US equities and managed futures is like an epic gala with a fusion of timeless classics and electric new beats. You'll have tales to tell, dances to relish, and perhaps, returns to cherish.
Cheers to a harmonious financial waltz! 🥂🕺💃

RSST ETF SIM vs 100% S&P 500 vs 100% 60/40 Portfolio Backtest

CAGR: 15.40% vs 11.65% vs 7.38%RISK: 14.88% vs 15.00% vs 9.91%BEST YEAR: 43.56% vs 31.22% vs 21.79%WORST YEAR: -8.33% vs -18.17% vs -16.90%MAX DRAWDOWN: -13.79% vs -23.93% vs -20.78%SHARPE RATIO: 0.96 vs 0.74 vs 0.66SORTINO RATIO: 1.71 vs 1.14 vs 0.99MARKET CORRELATION: 0.76 vs 1.00 vs 0.98

Review of RSST ETF : Reviewing Return Stacked US Stocks & Managed Futures ETF
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
source: Return Stacked® Portfolio Solutions on YouTube
Newfound Research and ReSolve Asset Management

When Newfound Research and ReSolve Asset Management team up for a project, it's bound to be top-notch.
This latest endeavor is no different.
For the past year, I've kept tabs on Corey Hoffstein from Newfound Research and the dynamic trio from ReSolve - Adam Butler, Rodrigo Gordillo, and Mike Philbrick.
They've consistently shared invaluable insights through tweets, videos, and podcasts.
The term "return stacking" frequently surfaced in their discussions.
Initially, I thought "return stacking" was just a buzzword they introduced for advisory purposes and specialized portfolio models.
But now, the fog has lifted.
It's an offering meant for all.
With the introduction of RSST ETF, RSBT ETF, and the upcoming RSSB ETF, retail investors are now presented with innovative tools to craft their ideal return stacked portfolios.
source: returnstackedetfs.com
RSST ETF Overview, Holdings and Info

The investment case for “Return Stacked US Stocks and Managed Futures” has been laid out succinctly by the folks over at Return Stacked ETFs: (source: fund landing page)
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Investment Case

"Capital Efficiency: Aims to provide simultaneous exposure to U.S. stocks and a managed futures strategy.  For every $1 invested, the RSST aims to provide $1 of exposure to large-cap U.S. equities and $1 of exposure to a managed futures strategy.
Diversification: RSST seeks to provide exposure to a managed futures strategy that has historically exhibited low correlation to both stocks and bonds.
Inflation Hedging: With the ability to go both long and short global futures markets (including equities, bonds, commodities, and currencies), managed futures has historically exhibited inflation-hedging characteristics.

*Diversification does not assure a profit.*"
source: returnstackedetfs.com

Fund Overview

"The Fund seeks long-term capital appreciation by investing in two complimentary investment strategies: a U.S. equity strategy and a managed futures strategy. For every $1 invested, the Fund attempts to provide $1 of exposure to its U.S. equity strategy and $1 of exposure to its managed futures strategy.
The U.S. equity strategy seeks to capture the total return of large-cap U.S. equities by investing in large-cap U.S. stocks, large-cap U.S. equity ETFs, and U.S. equity index futures.
The managed futures strategy will invest using a trend-following strategy in futures contracts among four major asset classes: commodities, currencies, equities, and fixed income."
source: returnstackedetfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
RSST ETF: Fund Selection Process
To better understand the process of how the fund operates, let’s turn our attention towards the summary prospectus where I've summarized the key points at the very bottom. (source: summary prospectus)
Principal Investment Strategies:

Return Stacked Bonds and Managed Futures Key Points

Actively Managed ETF: Pursues the dual mandate of 100% US Stocks + 100% Managed Futures strategies
Leverage: Stacks the returns of 100% Stocks with 100% Managed Futures utilizing leverage
$1 USD Invested Exposure: $1 USD of Stocks + $1 USD of Managed Futures
U.S. Equity Strategy: U.S. equity securities, U.S. equity ETFs, or U.S. equity index futures contracts
Managed Futures Strategy: 4 major asset classes (commodities, currencies, equities, fixed income) utilizing futures contracts
200% Expanded Canvas: Return Stacking 100% Stocks + 100% Managed Futures
Cash Collateral: U.S. Treasury bills and cash = collateral for the futures contracts + generate income
Stocks Strategy Mandate: Equal total return of US Large Cap Equities (via low cost ETFs and Equity Index Futures)
Managed Futures Mandate: Systematic and quantitative trend process of taking long/short positions across 4 major asset classes

RSST ETF Info
Ticker: RSSTCanvas Size: 200% Total = (100% US Stocks + 100% Managed Futures)Net Expense Ratio: 1.04AUM: ? (*Review written mere days after fund launch* Will update soon)Inception: 09/06/2023
source: ReSolve Asset Management

RSST ETF Pros and Cons
Let’s move on to examine the potential pros and cons of RSST ETF.

RSST Pros: Distinct Advantages

Features a unique combination of 100% US Equities and 100% Managed Futures, offering investors a distinctive capital-efficient tool.
The first of its kind capital-efficient equities + managed futures ETF: 100% Managed Futures paired with 100% U.S Stocks.
Flexibility to pair this with other capital efficient building blocks (e.g., treasury, gold, etc).
Option for a balanced 60/40/100 or all equity 100/50/50 portfolio across equities, fixed income, and managed futures when combined with RSBT or PSLDX
Compatibility with various other capital-efficient ETFs and Mutual Funds to craft a personalized return stacking design.
Allows integration of alternatives (managed futures) without shrinking or shaving down your equity allocation.
Creates room in your portfolio for alternative diversified diversifiers like global systematic macro, gold, market-neutral strategies, long-short equity, style premia, catastrophe bonds, arbitrage, bitcoin, etc.
Low correlation amongst stocks, bonds, and managed futures allows investors to blow to smithereens the outdated 60/40 narrative
Competitive management fee for a fund offering 200% expanded canvas coverage
Historically, managed futures have offered a buffer/ballast during market upheavals.
Employs a comprehensive strategy through machine learning to mimic a selection of trend-following funds.
Support innovative boutique funds catering to both retail investors and advisors.

RSST Cons: Potential Limitations

During years where both equities and managed futures are down, the ETF's leverage could amplify short-term losses.
Tracking error when managed futures have a challenging month, quarter and/or year(s)

source: Raise Your Average. on YouTube

RSST ETF Model Portfolio Ideas
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Do you remember earlier on when I said RSST ETF is one of the most versatile expanded canvas products?
Well, now it time to prove my point.
With RSST ETF you have almost unlimited combos to build high conviction capital efficient portfolios.
Let's explore some of those.

60/40/100: 60/40 Plus 100% Managed Futures
For those seeking the classic configuration of the a 60/40 portfolio with a no holds barred allocation to Managed Futures you only need 2 funds.
Model Portfolio:
60% RSST40% RSBT
Exposures:
60% US Equities40% Bonds100% Managed Futures
Expanded Canvas: 
200%
That's it.
You're done.
How has that performed in a backtest?
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
ALL EQUITY: 100/50/50 (Stocks + Managed Futures + Bonds)
If you're an investor that doesn't want to shave down your equity sleeve one bit you can still "return stack" bonds and managed futures in an equal combo with just 2 funds:

Model Portfolio:
50% RSST50% PSLDX
Exposures:
100% US Equities50% Managed Futures50% Bonds
Expanded Canvas: 
200%
Let's check that out by rolling back the clock a little bit with this performance summary.
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Maximum Diversification Portfolio
For investors seeking to maximally diversify their portfolios (with as many strategies as possible) you can cobble together 7 uncorrelated strategies with just 6 funds:
Model Portfolio:
50% RSST20% GDE10% TYA10% HCMT5% BTAL5% CAOS (formerly AVOLX)
Exposures:
88% or 68% US Equities50% Managed Futures30% Intermediate Treasury18% Gold0 or 10% Cash5% M/N Equities (Long: Low Vol / Short: High Beta)5% OTM PUT
Expanded Canvas: 
196% or 186%
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Let's send that combo off for a beautiful backtest!
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
And here are the correlations between strategies.
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Nomadic Samuel enjoying the scenery in Lago Puelo, Patagonia, Argentina
RSST ETF — 12-Question FAQ

1) What is RSST and its objective?
RSST (Return Stacked® U.S. Stocks & Managed Futures ETF) targets long-term capital appreciation and better diversification by combining ~100% large-cap U.S. equity exposure with ~100% managed-futures exposure (≈ 200% gross).
2) What does “return stacked” mean here?
For each $1 invested, RSST aims to deliver $1 of U.S. equities + $1 of managed futures. The futures sleeve (net of financing/costs) is “stacked” on top of equity beta.
3) How does the U.S. equity sleeve work?
Seeks the total return of large-cap U.S. equities via individual stocks, low-cost large-cap ETFs, and/or U.S. equity index futures, with T-bills/cash as liquidity and collateral.
4) How does the managed-futures sleeve work?
A systematic, rules-based trend process (long/short) across commodities, currencies, equities, and fixed income futures, sizing positions by signal strength and risk.
5) Is RSST leveraged? What’s the practical risk take?
Yes—notional exposure ≈ 200% (~100% equities + ~100% managed futures). Expect equity-like or somewhat higher volatility, but with lower correlation than a pure-equity sleeve.
6) Why pair U.S. equities with managed futures?
Managed futures have historically shown low/variable correlation to stocks/bonds and can mitigate drawdowns and help during inflationary shocks, improving risk-adjusted results.
7) When does RSST tend to do well—or struggle?
Favorable: Equity uptrends and persistent macro trends (up or down) in futures.Challenging: When both sleeves lag or in choppy, trendless markets that whipsaw trend-following.
8) How might investors use RSST in a portfolio?
As a core, capital-efficient equity block that preserves equity beta while adding managed futures, or within return-stacked combos (e.g., adding bonds, gold, or other diversifiers).
9) What are key risks to understand?
Leverage/derivatives risk, trend breakdown/whipsaw, tracking/implementation risk, underlying futures liquidity, and potential for larger short-term swings if both sleeves face headwinds.
10) How does RSST differ from a 60/40 or an equity + separate MF fund?
RSST provides pre-packaged, simultaneous equity + managed-futures exposure with explicit capital efficiency in one ticker; a 60/40 is static, and separate funds may require more capital or manual overlay.
11) Fees, taxes, and structure?
An actively managed ETF with an expense ratio disclosed by the sponsor; uses futures/T-bills for stacking and typically issues a 1099 (ETF structure). Check the current prospectus for details.
12) Who is this best suited for?
Investors/advisors who want to keep equity exposure while adding a diversifying, rules-based managed-futures sleeve, are comfortable with capital-efficient overlays, and tolerate tracking error vs. traditional benchmarks.

Nomadic Samuel Final Thoughts
Return Stacking offers everything I could ever want as a DIY expanded canvas investor.
I'm able to expand the canvas of my portfolio to create space for more diversified diversifiers.
That's the name of the game for me.
And RSST ETF is an incredible new puzzle piece I can utilize to keep my equity position strong whilst adding managed futures to the mix.
There are no compromises here.
It's just a big 'ole extra scoop of ice cream added to my waffle cone at the parlour on a hot summer's day.
And with all that talk of food, I think that's where we'll end things for today.
I'm freakin' hungry.

Let's turn things over to you.
What do you think of RSST ETF?

#### RSSY ETF Review: The Strategy Behind Return Stacked US Stocks & Futures Yield ETF with Corey Hoffstein
Capital-efficient investors now have a plethora of different toppings to stack atop their towering banana split sundae.
Stocks. Check.
Bonds. Yup.
Managed Futures Trend. Roger, that.
Gold. Indeed.
And now Carry.
More specifically, a multi-asset futures yield carry strategy.
RSSY ETF is the latest offering from the Return Stacked crew.
It's better known as Return Stacked US Stocks & Futures Yield ETF.
It's another potential 'return stacking' building block that can be used to assemble the capital-efficient portfolio of your dreams.
To learn more about this fund, let's turn things over to its creator Corey Hoffstein.

Meet Corey Hoffstein - CEO & CIO Newfound Research
Corey Hoffstein is the CEO and CIO of Newfound Research, where he is responsible for overseeing the Newfound’s investment team and the ongoing management of Newfound’s investment strategies.
Corey is an active researcher and his work has been published in the Journal of Indexing and the Journal of Alternative Investments.  He is also the host of the popular quantitative investing podcast Flirting with Models.
Corey holds a Master of Science in Computational Finance from Carnegie Mellon University and a Bachelor of Science in Computer Science, cum laude, from Cornell University.
source: returnstackedefts.com
Reviewing The Strategy Behind RSSY ETF (Return Stacked US Stocks & Futures Yield ETF)
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
source: returnstackedefts.com
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
source: returnstackedefts.com
What’s The Strategy Of RSSY ETF?
For those who aren't necessarily familiar with a "Return Stacked capital efficient" style of asset allocation, let's first define what it is and then explain this strategy in practice by giving some clear examples.
Most investors will acknowledge that more diversification is generally favorable to less.  By combining uncorrelated assets, wealth can compound more consistently and investors can achieve their financial plans with more certainty.
The best non-correlated options tend to be alternative assets like gold and commodities as well as alternative strategies like managed futures trend following, systematic global macro and other liquid alternatives. Unfortunately, most investors today allocate little to no money to these areas.  Why?
In my experience, it is because adding alternatives also means subtracting exposure to core stocks and bonds.  This can create significant tracking error and lead to substantial relative underperformance during decades like the 2010s when stocks and bonds thrived and many alternatives languished.
Return stacking aims to solve this problem by providing investors with a “yes and” solution rather than an “either/or” decision.
It does this by combining multiple exposures into a single fund.  For example, in the Return Stacked® U.S. Stocks & Futures Yield ETF (RSSY), for every $1 invested, we provide $1 of exposure to large-cap U.S. equities and $1 of exposure to a futures yield (carry) strategy.
By swapping out a portion of core stock exposure with RSSY, we are able to reintroduce the core exposure AND stack a futures yield (carry) strategy on top of the original portfolio.
For more on return stacking, you can visit our “what is return stacking” primer.
source: returnstackedefts.com
Unique Features Of Return Stacked US Stocks & Futures Yield Fund RSSY ETF
Let's go over all the unique features your fund offers so investors can better understand it. What key exposure does it offer? Is it static or dynamic in nature? Is it active or passive? Is it leveraged or not? Is it a rules-based strategy or does it involve some discretionary inputs? How about its fee structure?
For every $1 invested, the Return Stacked® U.S. Stocks & Futures Yield ETF (RSSY) is designed to provide $1 of large-cap U.S. equity exposure and $1 of exposure to a futures yield (carry) strategy.
The relative exposure to U.S. equities and the futures yield strategy is static.
The large-cap U.S. equity exposure simply seeks to provide broad large-cap U.S. equity exposure (e.g. S&P 500); there is no active stock-picking component.
The futures yield strategy seeks to provide long and short exposure across commodities, currencies, bonds, and equities via futures contracts using a systematic and quantitative process that seeks to harvest roll yield (carry) in futures contracts.
source: returnstackedefts.com
What Sets RSSY ETF Apart From Other Funds?
How does your fund set itself apart from other "asset allocation" funds being offered in the marketplace? What makes it unique?
There are two primary differentiators to this fund.

We believe return stacking is the key value proposition.  There are hundreds of U.S. equity funds and dozens of systematic futures funds.  We’re not aware of any that give you $1 of exposure to U.S. equities and $1 of futures yield (carry) for every $1 invested.  This enables a whole new dimension of portfolio construction for investors and allocators.
We are not aware of any multi-asset carry strategies currently available in either a mutual fund or ETF wrapper today.  We believe this introduces an important, novel exposure for investors.

What Else Was Considered For RSSY ETF?
What's something that you carefully considered adding to your fund that ultimately didn't make it past the chopping board? What made you decide not to include it?
Since the primary thesis behind the returns of futures yield (carry) strategies is risk based, we were concerned that the strategy would exhibit too much correlation to stocks and bonds.  Based on this concern, we discussed the idea of running a strategy that significantly constrained stock and bond beta.
Empirically, however, we found that our concerns were unfounded.  While an unconstrained implementation does exhibit significant time-varying correlation to stocks and bonds, it appears unconditional as to whether stocks or bonds are performing well or poorly.
As constraining the solution meaningfully hurt returns and did not appear to meaningfully improve risk during any adverse stock or bond scenarios, we elected to implement an unconstrained strategy.
source: returnstackedefts.com
When Will RSSY ETF Perform At Its Best/Worst?
Let's explore when your fund/strategy has performed at its best and worst historically or theoretically in backtests. What types of market conditions or other scenarios are most favourable for this particular strategy? On the other hand, when can investors expect this strategy to potentially struggle?
The fund is new and I cannot discuss backtests.  That said, we like the “return stacking” nomenclature because we think it helps explain precisely how returns in the fund should materialize.
While U.S. equities and futures yield (carry) have exhibited a low degree of correlation historically, they have exhibited high degrees of correlation over short-term periods.  These periods can lead to amplified returns: both positive and negative.
We’d expect the fund to do well during periods when U.S. equities are doing well and futures yield (carry) is doing well, and we’d expect the fund to do poorly when U.S. equities are doing poorly and futures yield (carry) is doing poorly.
Unfortunately, specifying when we would expect futures yield (carry) to do well or poorly is not straight forward.  Empirically, we find that diversified futures yield (carry) strategies exhibit little sensitivity to the returns of stocks and bonds and little sensitivity to any particular growth or inflation-based macro-economic regime.
On average, we’d expect the volatility of U.S. equities to match well with the volatility of the futures yield (carry) strategy, so neither should dominate the ETF’s risk profile over the long run.
source: returnstackedefts.com
Why Should Investors Consider Return Stacked US Stocks & Futures Yield Fund RSSY ETF?
If we're assuming that an industry standard portfolio for most investors is one aligned towards low cost beta exposure to global equities and bonds, why should investors consider your fund/strategy?
Our aim with Return Stacked funds is to allow investors to keep their global beta exposure and complement it with diversifying alternatives.
Why should they replace that low-cost exposure with a more expensive fund?

By retaining the core beta through stacking, the fee is explicitly to pay for the alternative.  We no longer have to ask, “can the alternative outperform the core beta after fees,” but simply: “can the alternative outperform the fees?”
We believe we can offer the alternatives at a lower cost than our peer group.
We believe that introducing additional return streams through stacking has several potential benefits, including: (1) enhanced long-term returns; (2) the potential to improve diversification and reduce risk; and (3) the potential for a more sustainable allocation to alternatives.

How Does RSSY ETF Fit Into A Portfolio At Large?
Let's examine how your fund/strategy integrates into a portfolio at large. Is it meant to be a total portfolio solution, core holding or satellite diversifier? What are some best case usage scenarios ranging from high to low conviction allocations?
The primary use case for RSSY is quite simple: replacing large-cap U.S. equities with RSSY allows investors to retain their large-cap U.S. equity exposure while introducing a futures yield (carry) strategy to their portfolio.
The size of the allocation ultimately determines the size of the overlay. I believe you’ve introduced this to your audience as “what is the canvas size” of the portfolio.   For example, selling 5% of large-cap U.S. equity exposure to buy RSSY would create a 5% futures yield (carry) overlay on the portfolio, a total canvas size of 105%; selling 20% to buy RSSY would result in a 20% overlay, a total canvas size of 120%.

The Cons of RSSY ETF
What's the biggest point of constructive criticism you've received about your fund since it has launched?
Many investors are simply averse to leverage.  And, make no mistake, return stacking is an application of leverage.
The fear of leverage is understandable: if you look at just about every major financial catastrophe, you’ll find leverage lurking at the crime scene.  But it is usually concentrated leverage.
What we’re specifically advocating for is utilizing leverage to better unlock the potential benefits of diversification.  We believe that return stacking can not only help investors introduce alternatives in a way that can improve expected portfolio results, but also introduce alternatives in a manner that is behaviorally sustainable.

The Pros of RSSY ETF
On the other hand, what have others praised about your fund?
We are excited at the number of people who see our funds the same way we do: pre-stacked building blocks that enable a variety of different portfolios to be constructed.
Some may elect to create a small overlay on their very traditional stock-bond portfolio.  Others have created examples where they re-think what an “all weather” portfolio might look like, creating levered, balanced allocations of stocks, bonds, commodities, and alternative strategies.
Our intention with launching Return Stacked ETFs (www.returnstackedetfs.com) is not to be prescriptive (though we do have opinions), but rather to provide the building blocks for informed investors to build the portfolios that are best for them. Having said that, we do offer clear assembly instructions via model portfolios for those advisors and institutions that want turnkey solutions and incorporate other pre-packaged funds and ETFs at Return Stacked Portfolio Solutions (www.returnstacked.com).
source: returnstackedefts.com
Examples Of Successful Carry Trades
For investors not familiar with this particular alternative strategy can you provide some hypothetical examples of successful carry trades?
When investors think of a positive return, they usually think about selling something for more than they bought it.  This framework, however, ignores a second, important source of return.  Landlords, for example, can earn a return from both the price appreciation of their property as well as rental income.
This second source of return is called “carry” and can be loosely defined as the expected return of an investment assuming no change in its price.  Investing for dividend yield or selling options for income are two ways of investing for carry.
As a measure, carry exists across stocks, bonds, commodities, and currencies.  A diversified carry strategy will go long and short in different markets seeking to maximize exposure to this driver of returns.
source: returnstackedefts.com
How Does Carry Combine With Other Alternative Strategies?
How does adding a carry strategy to your portfolio combine with another alternative strategy such as trend following? Is there an optimal mix for investors to potentially consider?
The simple math answer here is, “in isolation, when you have two things with approximately the same expected returns and volatilities, you’d equally-weight them.”  
“In isolation” is doing quite a bit of heavy lifting in that sentence, however.  In reality, most investors start with a stock-bond portfolio.  We find, empirically, that diversified carry strategies, on average over time, have a low correlation to stocks and bonds, making them an attractive additional source of returns for traditionally allocated portfolios.
Diversified carry strategies also exhibit low correlation to trend following strategies.  This feature is at least partially mechanical, particularly in extremes.  For example, while trend following may chase equity prices upward in a strong trend, carry strategies may simultaneously begin to short equities at the same time, as increasing prices will decrease expected dividend yield (a measure of carry in equities), making them relatively less attractive.
Taken together, a naïve, equally weighted combination of both carry and trend following creates a difficult hurdle for any optimized blend to overcome.
source: returnstackedefts.com
Diversification Benefits Of Carry Strategies
What are the potential diversification benefits of including carry exposure in a multi-asset portfolio?
Before evaluating empirical data, there are two important points to consider with a multi-asset carry strategy.  First, for traditional stock-bond investors, multi-asset carry strategies will introduce exposure to commodities and currencies that they may not otherwise hold.
Second, multi-asset carry strategies will take both long and short positions, seeking to maximize carry exposure.  In doing so, they will only hold equity or bond beta when they provide attractive relative carry compensation versus other opportunities.
Taken together, we would expect multi-asset carry strategies to exhibit little correlation to traditional portfolio holdings on average.  Empirically, that is precisely what we find.  Importantly, and contrary to popular beliefs about carry, we also find that they exhibit little conditional correlation, historically performing no better or worse in the best and worst performing periods for stocks and bonds.
It should be stressed, however, that average zero correlation is not negative correlation. In other words, empirical data suggests that carry is just as likely to lose money as it is to make money when equity or bond indices come under stress. Furthermore, zero on average is not always zero, and it is possible for carry strategies to have very high correlations to both stocks and bonds, which can coincide with sudden market shocks in both directions. Conversely, it is possible for carry strategies to have very strong negative correlations to both stocks and bonds which would act as a counterweight to market shocks in both directions.
source: returnstackedefts.com
Multi-Asset Carry Strategy Benefits
What are some of the potential competitive advantages of your carry strategy (multi-asset class) compared to others (limited to say just currencies)?
Like most strategies, we believe that carry benefits from diversification.  
In isolation, carry strategies (both cross-sectional and time-series) within equities, bonds, commodities, and currencies have all exhibited positive excess returns.  Nevertheless, we believe an isolated approach sacrifices valuable cross-sector information, both in identifying the most attractive relative carry opportunities as well as the ability to manage risk.
For example, a more limited approach may simply go long high carry currencies and short low carry currencies.  An optimized, multi-asset approach, however, may find that the opportunity in high carry currencies is more effectively hedged with short commodity or bond exposure.  
We believe that taking a multi-asset, portfolio-based approach allows us to better maximize carry exposure on a risk-adjusted basis.
source: returnstackedefts.com
Managing Carry Risk
What historical precedents shape your approach to managing carry risk?
When people think about the “carry trade,” they often think of currency, and more specifically, the yen carry trade.  For years heading into 2008, the yen was a popular funding currency because it was possible to borrow at exceedingly cheap interest rates in Japan.  The classic currency trade would be to convert the yen into a basket of higher yielding currencies, allowing traders to capture the spread in interest rates.  More creative financial engineers took this trade one step further and simply used the yen as a general funding source for any trade.
That trade, however, was a spectacular example of what can go wrong when high concentration (specifically, exposure to the yen) and leverage are mixed.  The 2008 crisis sparked a procyclical unwind, driving the yen higher and wiping out years of carry capture. 
Even in a multi-asset carry portfolio, it’s likely that the yen would have been identified as an attractive source of carry funding.  Portfolio-level design, however, can help dramatically reduce the risk of a single carry trade having undue influence on portfolio returns.

Portfolio optimization.  By seeking to maximize carry per unit of risk, an optimized portfolio will favor more diversification over less, all else held equal.
Position and sector-level position caps.  Prudent limits are applied at both the position level and the sector level to provide guard rails to the optimization process. 
Portfolio-level volatility targets.  By targeting a constant volatility level, the portfolio will naturally cut gross leverage as volatility increases, which is likely to happen in a more concentrated positioning.

Portfolio-level risk limits.  As an ETF, the strategy must adhere to the SEC’s 18f-4 derivatives rule, which specifies VaR-based targets (i.e. worst-case loss estimates) the portfolio must adhere to, limiting gross leverage particularly when positions are more concentrated.
source: returnstackedefts.com
Carry As A Single Strategy Stack vs Style Premia Stack
Why did you choose "carry" as a single strategy to stack compared to other style premia (whether multi-strategy or not) such as "defensive" or "relative value" or "momentum" or "seasonality"?
We believe carry offers several very attractive features.
First, empirically, it has had very low correlation to stocks, bonds, and trend following strategies.  This makes it a natural complement not only to traditionally allocated portfolios but also our existing strategy lineup.  
Second, the primary thesis for why carry strategies offer returns is risk based, a distinct difference to trend following which is historically argued to be a largely behavioral phenomenon.  We believe this provides a strong basis for why carry should continue to be uncorrelated.
Finally, we also believe that carry strategies can be implemented at significant scale and reasonable turnover, which is an important consideration when managing an ETF.
source: returnstackedefts.com
Absolute Return Potential Of Multi-Asset Carry Strategy
What's the absolute return potential in various market regimes of a multi-asset carry strategy?
Empirical evidence suggests that carry is not highly regime dependent, either in its sensitivity to traditional assets (e.g. stocks and bonds) or economic periods (e.g. growth and inflation).
We believe that, after transaction and management costs, a reasonable long-term Sharpe ratio expectation for an optimized carry strategy is 0.3-0.4, implying a 3-4% expected excess return (returns above cash) for a strategy targeting 10% annualized volatility.
source: returnstackedefts.com
Learn More About RSSY ETF
We'll finish things off with an open-ended question. Is there anything that we haven't covered yet that you'd like to mention about your fund/strategy? If not, what are some other current projects that you're working on that investors can follow in the coming weeks/months?
As I mentioned in the last answer, we see our funds as pre-stacked building block solutions and so, as you might expect, we plan to continue to launch different combinations of stacks in the coming months and years.
For financial professionals, we also offer model portfolios.  These are turnkey portfolio solutions that implement return stacking concepts and are available in a variety of risk profiles.  Advisors can implement them directly, customize them, or simply use them as inspiration.  We plan on expanding our model lineup over the next several years.
We’ve also been working on several tools to allow investors to learn by getting their hands dirty.  To date we’ve published two tools: the Return Stacking Visualizer and a Return Stacking Withdrawal Visualizer.  The former allows investors to easily explore and backtest different return stacking concepts.  The latter allows investors to explore how return stacking combinations can impact portfolio longevity and withdrawals.  Both are currently available to financial professionals after they register on our website.  We hope to expand this toolkit going forward.
Finally, we recognize that this concept will be novel for many, so education is a strong focus for us.  So, we plan on publishing more content on our blog as well as our YouTube channel.

RSSY ETF Review — Return Stacked U.S. Stocks & Futures Yield with Corey Hoffstein (12-Question FAQ)
What is RSSY in one sentence?
A capital-efficient ETF that targets $1 of U.S. large-cap equity exposure plus $1 of multi-asset futures yield (carry) exposure for every $1 invested—a “return stacked” building block.
What does “futures yield (carry)” mean here?
It’s a systematic long/short strategy across futures on commodities, currencies, bonds, and equities that seeks to harvest roll yield/carry—i.e., expected return assuming no price change—via term-structure, yield differentials, and relative value.
Is RSSY’s allocation static or dynamic?
Per the design, the split is static ($1 U.S. equities + $1 futures carry). Stock selection is passive-beta; the carry sleeve is rules-based/systematic, long and short across multiple futures markets.
How is this different from just adding a carry fund to my portfolio?
Return stacking lets you keep core equity beta while layering carry on top in one wrapper, avoiding the “either/or” trade-off that often creates benchmark tracking error when funding alternatives from equities.
When might RSSY do well—or struggle?
It should shine when both U.S. equities and multi-asset carry do well, and struggle when both do poorly. While average correlations are low, short bursts of high correlation (positive or negative) can amplify outcomes in the short run.
How does carry interact with trend following?
Historically low correlation: trend may chase price moves, whereas carry may favor assets with higher ongoing yield (sometimes even taking the opposite tilt). Equal-weighting carry + trend is a simple, robust starting point.
What are the key risks?

Leverage/stacking risk: outcomes can be amplified.

Correlation spikes: carry can temporarily correlate with stocks/bonds.

Strategy risks: term-structure shifts, crowding, liquidity, roll costs.

Tracking error: versus plain equity benchmarks.Investors must be able to stick with the approach through noise.

How is risk managed in the carry sleeve?
Via portfolio optimization (carry per unit of risk), position/sector caps, volatility targeting (cutting gross exposure as vol rises), and regulatory 18f-4 VaR limits that constrain derivatives usage.
Where does RSSY fit in a portfolio?
Primarily as an equity replacement that retains U.S. large-cap beta while adding a carry overlay. The allocation size = overlay size (e.g., replace 10% U.S. equities → ~10% carry overlay → ~110% canvas).
Who is RSSY for—and not for?
For: allocators seeking capital-efficient diversification with systematic, multi-asset alternatives in one ticket.Not for: investors who must hug benchmarks, dislike derivatives/stacking, or cannot tolerate short-term tracking error.
How does fee logic work in a stacked fund?
You’re still holding core equity; the incremental fee effectively pays for the alternative sleeve. The question becomes, “Can carry earn more than its incremental fee over time?” rather than outperforming equities.
What is a pragmatic way to implement?
Start with small canvas (5–10%), observe effects on volatility/drawdown/correlation, then scale if behavior aligns with expectations. Keep rebalancing simple and monitor overlap/costs across sleeves.

#### What Is Return Stacking? Return Stacked Portfolios: Capital Efficient Investing Strategy Review
What The Heck Is Returning Stacking?
Imagine if you could put together a portfolio, in such a way, that it is return stacking the right combination of equities, bonds and alternatives to provide an all-weather solution that meets your performance needs while at the same time offering significant drawdown protection for any economic regime curveball thrown its way?
2022 has proven to be a frustrating year for investors pursuing a 1-2 approach to investing with various equity and bond combinations.
(Note: This article was originally written to review the 60/40 Return Stacked Index. I've kept all those bits. But I've added some general information bobs to turn it more into a guide/primer)

Historically uncorrelated assets have cosied up on a skewer to share the same shishkebab of carnage in recent months given pesky and persistent inflation.

2020 challenged investors in March with fierce equity drawdowns where bonds weren't able to shield the damage.

How about in 2008? Even a balanced 60/40 portfolio, the industry standard of optimized asset allocation, received a heck of a nasty shiner.

The time has come to think about asset allocation from a bottoms-up approach where alternative investments are an integral part of the portfolio rather than considered to be some kind of roadside freakshow curiosity.
In order to build an all-weather portfolio it requires an imagination that extends beyond merely stocks and bonds.
An all-weather approach to investing is the optimal solution.

The Return Stacked 60/40 approach, (a fund of funds, multi-asset class and multi-strategy approach), is possibly the best attempt to date of combining equities, bonds and alternatives in an optimal manner.
Fortunately, for us, it's just called "return stacking" as opposed to portable-beta multi-fund, multi-asset class, multi-strategy asset allocation.

Return stacking seeks to create space in the portfolio by being more efficient.
You take the 60/40, that everyone loves so dearly for whatever reasons, and boost it 1.5 times so that your portfolio expands its canvas and creates 33% room for something else.
Pile more stocks and bonds into that space?
Not exactly.
Add uncorrelated assets and alternatives in a multi-strategy approach to improve the efficiency of the portfolio.
CTA. Macro. Style Premia. Tail Hedging.
In essence you're stacking uncorrelated return streams on top of the portfolio, improving its diversification and making it more robust and regime ready for all potential economic environments.

Yo, Exactly What Is Return Stacking?
Return Stacking, in the realm of investment strategy, is a sophisticated and nuanced approach that revolutionizes traditional portfolio management. It's akin to an intricate dance of financial instruments, where instead of gracefully stepping aside for one another, they stack up, creating a harmonious and dynamic performance. In this strategy, investors layer additional investment returns, akin to alternative strategies, over their core portfolio of stocks, bonds and gold.

 This creates a scenario where more than $1.00 of exposure is achieved for each $1.00 invested, without the need to divest from the foundational assets.
In other words, if you've got a 200% expanded canvas return stacked product you're getting 100% exposure of Asset A PLUS 100% exposure of Asset B for every dollar invested.
Not too shabby, at all.

To paint a more vivid picture, imagine your investment portfolio as a wedding cake. The base layer, your stocks and bonds, is the classic vanilla sponge – reliable and foundational. In a conventional scenario, if you wish to add a layer of tantalizing chocolate ganache (representing an alternative investment such as managed futures), you would typically need to scrape off some of the vanilla. However, with Return Stacking, you're not just adding chocolate on top; you're conjuring an entire new layer, replete with sparklers and edible gold leaf, elevating the cake's grandeur without compromising the integrity of the vanilla base.

This concept shines particularly in managing the sequence of returns risk, especially crucial for those waltzing into retirement. It's like adding a jetpack to a marathon runner – not only does it uphold their pace but potentially enhances their speed, allowing them to navigate the race (or in this case, the investment landscape) with added efficiency and resilience.

Imagine a juggler at a circus, effortlessly keeping several balls in the air. Now, with Return Stacking, it’s as if the juggler, without dropping any of the existing balls, suddenly starts juggling flaming torches alongside them. This represents the addition of alternative strategies atop a traditional mix of stocks and bonds, enhancing the spectacle without compromising the original act.

In practical terms, Return Stacking might involve layering managed futures or other alternatives over a core asset allocation. It’s like a gardener who, instead of uprooting existing plants (equities and bonds), skillfully grafts exotic orchids (alternative investments) onto sturdy trees, creating a diverse and vibrant ecosystem within the garden without sacrificing its original beauty.

For retirees, this approach is akin to adding an additional, more adventurous chapter to their life story without rewriting the earlier, more conservative ones. It allows for a reduction in equity exposure – think switching from a gas-guzzling sports car to a more prudent yet equally thrilling electric vehicle – in a manner that does not detrimentally impact the portfolio's performance. Furthermore, it potentially allows for a modest increase in withdrawal rates, akin to finding an unexpected bonus check in an old jacket pocket.

Who Created Return Stacking?

Who put this together?
It's a collaboration between ReSolve Asset Management and Newfound Research where Rodrigo Gordillo, Adam Butler and Mike Philbrick teamed up with Corey Hoffstein to assemble the Return Stacked 60/40 Absolute Return Index.
Apparently, it was Rodrigo who first came up with the idea. Credit should go to him.
(Since this article was written they've launched Return Stacked ETFs with funds RSSB, RSBT & RSST)

Return Stacking ETFs: Capital Efficient Funds For Investors
We've entered the golden age of capital efficient ETFs hitting the marketplace - in a fast and ferocious manner.

Here is a list of some return stacking ETFs currently available in alphabetical order:
GOLY ETF - Strategy Shares Gold-Hedged Bond ETF (100% Investment Grade Bonds + 100% Gold)GDE ETF - WisdomTree Efficient Gold Plus Equity Strategy Fund (90% US Equites + 90% Gold)HCMT ETF - HCM Tactical Enhanced US ETF (200% US Equities or 100% Cash)NTSE ETF - WisdomTree Emerging Markets Efficient Core Fund (90% EM Equities + 60% Treasuries)NTSI ETF - WisdomTree International Efficient Core Fund(90% Int-Dev Equities + 60% Treasuries)
NTSX ETF - WisdomTree U.S Efficient Core Fund(90% US Equities + 60% Treasuries)RPAR ETF - RPAR Risk Parity ETF (125% Global Asset Allocation Fund)RSBT ETF - Return Stacked Bonds & Managed Futures ETF (100% Agg Bonds + 100% Managed Futures)
RSBY ETF - Return Stacked Bonds & Futures Yield ETF (100% Agg Bonds + 100% Carry Style Premia)RSSB ETF - Return Stacked Global Stocks & Bonds ETF (100% Global Equities + 100% Treasuries)
RSST ETF - Return Stacked US Stocks & Managed Futures ETF (100% US Equities + 100% Managed Futures)
RSSY ETF - Return Stacked U.S. Equity & Futures Yield ETF (100% US Equities + 100% Carry Style Premia)SPBC ETF - Simplify US Equity PLUS GBTC ETF (100% US Equities + 10% Bitcoin)SPQ ETF - Simplify US Equity PLUS QIS ETF (100% US Equities + 50% Multi-Strategy QIS)TUA ETF - Simplify Short Term Treasury Futures Strategy ETF (3X Intermediate Treasuries)TYA ETF - Simplify Intermediate Term Treasury Futures Strategy ETF (5X Short-Term Treasuries)
UPAR ETF - UPAR Ultra Risk Parity ETF(168% Global Asset Allocation Fund)

Other Diversifying Alternative Investment Funds
ARB ETF - AltShares Merger Arbitrage ETF (Merger Arbitrage Strategy)
BTAL ETF - AGF US Market Neutral Anti Beta Fund (Long 100% Low Vol Equities / Short 100% High Beta Equities)
CAOS ETF - Alpha Architect Tail Risk ETF (OTM Put Tail Risk Strategy) 
EQLS ETF - Simplify Market Neutral Equity Long Short ETF (Long 200% Multi-Factor Equities / Short 200% Junk Equities) 
FBTC ETF - Fidelity® Wise Origin® Bitcoin Fund (Bitcoin Exposure)
FLSP ETF  - Franklin Systematic Style Premia ETF (Multi-Asset + Multi-Strategy L/S: Quality, Value, Momentum & Carry)
LBAY ETF - Leatherback Long/Short Alternative Yield ETF (L/S Equity Strategy)
SVOL ETF - Simplify Volatility Premium ETF (-0.2 to -0.3 VIX with hedges)

Return Stacking ETF Model Portfolio Ideas
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
So we've spread out all of our ETF goodies on the table.
How can we stack 'em together?
Here are a few ideas from an amateur investor's eyeballs:

Tactical Return Stacking Portfolio Combination
If you're seeking to tickle your inner tactical turnkey...
40% RSST ETF20% HMCT ETF10% GDE ETF10% SPQ ETF5% TYA5% TUA5% CAOS5% BTAL
Offensive Mode Exposure:
99% Equities40% Treasuries (Short + Intermediate)40% Managed Futures9% Gold5% Multi-Strategy QIS5% M/N Anti-Beta5% OTM Put
Defensive Mode Exposure:
59% Equities40% Treasuries (Short + Intermediate)40% Managed Futures20% Cash9% Gold5% Multi-Strategy QIS5% M/N Anti-Beta5% OTM Put
Return Stack: 203% Canvas (Offensive Mode) + 183% Canvas (Defensive Mode)

Enhanced Return Stacking 60/40 Maximum Diversification Portfolio
For those seeking maximum diversification with a 60/40 backbone...
30% RSSB ETF10% RSST ETF10% GDE ETF10% SPQ ETF10% RSBT ETF5% FLSP ETF5% SVOL ETF5% EQLS ETF5% ARB ETF5% BTAL ETF5% CAOS ETF
Exposure:
59% Equities40% Bonds10% Managed Futures9% Gold5% QIS Multi-Strategy5% Style Premia Multi-Asset Class5% Short Vol5% L/S Equity5% Arbitrage5% M/N Anti-Beta5% OTM Put
Return Stack: 153% Canvas

All Equity Return Stacking Portfolio
You're committed to the moon and back to keeping your equity exposure at 100% but you'd like to add some diversifiers to the mix...
40% RSSB ETF30% RSST ETF20% SPQ ETF10% SPBC
Exposure:
100% Equities40% Bonds30% Managed Futures10% QIS Multi-Strategy1% Bitcoin
Return Stack: 181% Canvas

Defensive Return Stacking Portfolio
You're in hardcore defensive mode where vol management and sequence of returns matters most...
40% USMV ETF40% RSBT ETF10% CAOS ETF10% BTAL ETF
Exposure:
40% Min Vol Equities40% Bonds40% Managed Futures10% M/N Anti-Beta10% OTM Put
Return Stack: 140% Canvas

Return Stacking Review: Return Stacked 60/40 Absolute Return Index
Source: Pixabay
Does it all sound too good to be true?
Well, we're specifically going to explore whether or not this strategy works better than the classic 60/40 in this review.
That's its benchmark.
But first, let's check out the evolution of expanded canvas products from gen 1 to gen 3.
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
Source: Pixabay
Return Stacking: 12-Question FAQ
1) What is “return stacking” in plain English?
Return stacking layers multiple return streams (e.g., equities, bonds, managed futures, gold, carry) on top of each other so that each $1 invested can represent more than $1 of diversified exposures, without selling your core holdings.
2) How is canvas size (e.g., 140%–200%) calculated?
Canvas ≈ the sum of gross sleeves. A 40% position in a 100/100 fund adds ~40% of asset A + ~40% of asset B. Add sleeves across holdings to estimate total exposure above 100%.
3) How is return stacking different from leveraged equity ETFs?
Leveraged equity ETFs mainly amplify one asset’s beta (hero/zero risk). Return stacking uses modest, purpose-built overlays to add uncorrelated sleeves (trend, gold, carry, style premia) so offense and defense can work together.
4) Why consider it now?
Stock–bond correlations can spike at the wrong time. Stacking uncorrelated alternatives seeks to preserve the 60/40 core while adding diversifiers that historically shine in different regimes.
5) What are the main benefits?

Keep core stocks/bonds and add diversifiers

Potentially better Sharpe and smaller max drawdowns

Flexibility across regimes; less sequence-risk sensitivity

Preserve core exposures (no need to sell to “make room”)

6) What are the key risks?

Tracking error versus vanilla benchmarks

Misunderstanding overlays/leverage mechanics

Liquidity/roll/implementation details inside derivatives

Behavior risk (bailing when alts temporarily lag)

7) Who coined and built early frameworks/products?
ReSolve Asset Management and Newfound Research collaborated on the Return Stacked 60/40 Absolute Return Index; Rodrigo Gordillo is often credited for the original “return stacking” framing.
8) What return drivers typically get stacked?
Core equities and bonds plus diversifiers such as managed futures (trend), gold, carry/futures yield, style premia, market-neutral/anti-beta, macro, and optional convexity (puts).
9) What ETF examples illustrate stacking today?
Representative tickers include NTSX/NTSI/NTSE (90/60 equity/treasury), GDE (90/90 equity/gold), RSBT (100% bonds + 100% managed futures), RSSB (100% global stocks + 100% bonds), RSST (100% US stocks + 100% managed futures), RSBY (bonds + carry), plus complementary diversifiers like BTAL, FLSP, CAOS, SPQ, SPBC.
10) Is return stacking only for accumulators, or also retirees?
Both. Accumulators can pursue growth with smoother paths; retirees may target withdrawal stability via reduced reliance on a single risk engine (equities) while adding diversifiers that can cushion shocks.
11) How does it compare to a classic 60/40?
The aim is 60/40 plus: preserve the core while overlaying uncorrelated alternatives. Historically, that can improve risk-adjusted returns and drawdown behavior versus a plain 60/40.
12) How do I get started prudently?
Start small (e.g., 10–20% sleeve of a stacked fund) alongside your current portfolio, rebalance on a set schedule or bands, and expand only after you understand exposures, process, and your behavior in chop.
Evolution Of Expanded Canvas Investing

Imagine a scenario where you're in a high school cafeteria and you're being served Thanksgiving dinner.
Your mouth waters in anticipation of a delicious well-rounded meal featuring turkey, mashed potatoes, mixed vegetables and stuffing with copious amounts of gravy poured on top of it all.
When you arrive at the food station, the server wielding a giant metal spoon, scrapes ferociously against the bottom of the tray scooping up a giant sized portion of mashed potatoes while delivering it smack-dab in the middle of your plate.
Woah! That's a lot of "fill-in-the-blank" mashed potatoes!

Before you have time to process what has happened you're distracted by a group of friends calling you over to sit next to them for dinner.
Turning your attention back to your plate you suddenly realize you've had two extra just-as-gigantic scoops of mashed potatoes formed on top of the first overly generous scoop.
You summon up the courage to protest but the slightly intimidating server yells out, "Next!" so defeated you go and sit down wondering how on earth you're going to attempt eating this Mount Everest Of Carbohydrates stacked on top of your plate.

2X to 3X Equity Products (Gen 1)
Up until recently any investor seeking to stretch the canvas of their portfolio beyond 100% basically only had the options of 2X to 3X equity products.

These hero/zero products, which I like to call sequence of return-risk toys, take an already risky asset class and dial things up significantly.
Boy of boy you're some kind of a genius if you plugged in a 3X QQQ from say 2009 until the end of 2021.

Hero mode.
But what about the sequence of returns if you tried that one on for size from say 2000 to beginning of 2010.
Zero mode.
Even the providers of such products, generally speaking, warn investors in the following way:
"Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product."

Hence, the label I've assigned to these types of products being hero/zero sequence of return risk toys feels justified and appropriate.
These generation 1 products also kinda rightfully so perpetuate the myth that leverage is always bad versus leverage is a potential tool.
Going back to the turkey dinner analogy, these gen 1 products are specifically the plates of giant mashed potatoes. It is not a balanced meal.

Sensibly Leveraged Uncorrelated Assets (Gen 2)
Fortunately, for DIY investors, a more sensible type of generation 2 product has become available for expanded canvas portfolios.
Taking two historically uncorrelated asset classes such as stocks/bonds or stocks/gold or stocks/managed-futures and combining them together while ensuring no individual asset class within the portfolio stretches beyond 100%.

For example: 90/60 stocks/bonds or 90/90 stocks/gold or 50/100 stocks/managed-futures
When you back-test results from these combinations you'll notice, generally speaking, outperformance versus 100% stock only portfolios with significantly less drawdown potential. You don't get the -40% worst-case scenarios of equity only strategies in 2008.
Hence, I believe these generation 2 products are incredible "building blocks" for investors seeking to assemble expanded canvas portfolios.
Mix and match them together, as you wish, and you can potentially build a globally diversified all-weather portfolio with an equity + bond + alternative sleeve.
With the generation 2 products you have the potential to cobble together your own complete turkey dinner by serving it to yourself.
The biggest issue though is that you have to know how to make it and serve it to yourself.

Total Portfolio Expanded Canvas (Gen 3)
The main reason I'm so excited about the potential of the Return Stacked 60/40 is that it is one of the first attempts to serve turkey dinner complete all-in-one.

You're not as an investor faced with the task of assembling the building blocks yourself to round out your plate.
Here it is served to you at the dinner table neatly plated and artfully presented with just the right amount of turkey, potatoes, sides and gravy. Maybe you even get dessert too.

This of course means an appropriate amount of stocks + bonds + alternatives.
A 1-2-3 approach to investing that provides all-weather coverage for your portfolio.
No sleeves of the portfolio extending beyond 60%.
This isn't risky dialing up to the moon single asset classes in the hopes they catch the right kind of luck or lightning in a bottle.
It's balanced. It's sensible. It makes sense long-term.

Source: Meb Faber Show on YouTube

Return Stacked 60/40 Absolute Return Index: What's Under The Hood?
Let's pop the hood of the Return Stacked 60/40 wide-open to see what we've got inside.
What you'll find is some of the most interesting expanded canvas portfolio solutions all-together under one roof.

It's a bit like an all-star game where some very capable funds (on their own) have entered into the stadium and are now sharing the field with others of similar capabilities.
Instead of hogging the court the Return Stacked 60/40 fund of funds has been quite evenly distributed giving each a chance to contribute but not dominate over one another.
You'll notice each fund brings with it allocations to either stocks, bonds or alternatives in a way that once the dust settles is as follows:
Source: ReturnStacking.Live (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

RETURN STACKED 60/40 LIST OF FUNDS
15% Newfound Risk Managed U.S. Growth (NFDIX)15% Rational ReSolve Adaptive Asset Allocation Fund (RDMIX)15% Catalyst/Millburn Hedge Strategy Fund (MBXIX)12.5% Standpoint Multi Asset Fund (BLNDX)12.5% Abbey Capital Multi-Asset Fund (MAFIX)6% WisdomTree U.S. Efficient Core Fund (NTSX)6% WisdomTree International Efficient Core Fund (NTSI)6% Simplify US Equity Plus Convexity ETF (SPYC)10% Simplify Risk Parity Treasury ETF (TYA)3% Simplify Tail Risk Strategy ETF (CYA)

Return Stacked 60/40 161.7% Expanded Canvas
62.3% Equities40% Bonds60% Alternatives 
We'll spend just a second touching upon the equities and bonds sleeve since the real 'secret sauce' of the Return Stacked 60/40 is the stacking of the alternative sleeve on top.
Basically the equities are mostly composed of market-cap weighted strategies giving you a globally diversified exposure whereas the bonds provide various treasury-level exposure.
This is your standard 60/40.
You wanted it. You've got it.
We'll now jump now into the alternative sleeve to see what distinguishes the Return Stacked 60/40 from others.
Source: Pixabay

Return Stacking: Alternative Sleeve Investment Strategy
Eric Crittenden of Standpoint probably created the most important resource ever put up on YouTube related to whether or not alternatives deserve a place in your portfolio.
I've now embedded this multiple times in articles and I'll be darned if it doesn't break 1000 views at some point in the near future.
Here is the blind taste test!

Source: Standpoint on YouTube
Given that stock and bond allocations are static and have to endure whatever economic regime is thrown their way paves the opportunity for something in the portfolio that adapts like a chameleon.
Trend-following does just that.
It tracks major market future indices in commodities, grains, meats, metals, energy, global currencies, bonds and equities by going long/short.
Most importantly it adapts to the current trend by never fighting reality and always saying 'yes' to whatever is going on.
Yes, to commodities doing well by taking a long position. Yes, to bonds trending down by going short.
It's a rules based system to following the trend.

The major advantage it has over a static allocation to gold and/or commodity funds is that it offers far more stability.
Long gold can mean brutal years. Allocating to fixed commodities has at times been even worse.
In a trend-following scenario that brutality is limited given the system adapts one way or the other when trends are strong.
This means you're not holding a struggling asset in a long-position all year long while it is eaten alive.
Hence, it offers a superior alternative investment from a diversification and volatility control standpoint.
The Systematic global macro alternative sleeve refers to different managed futures strategies aside from just trend-following.
For instance, this could include relative value, carry, mean-reversion, volatility arbitrage and/or market neutral to name just a few.

The take-home message for me is that these two different approaches provide (as the creators of the Return Stacked 60/40 have suggested) "diversified diversifiers" in the alternative sleeve.
Last but not least, the convexity put-options component basically sets strike points at various numbers where if the market were to crash to these levels an insurance policy would be collected.
Source: ReturnStacking.Live (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)

Return Stacking Recent Performance
One of the most exciting things about the Return Stacked 60/40 is that its live performance can be tracked at ReturnStacking.Live
How has it done so far versus the Milquetoast 60/40?
Dominant outperformance.

179 basis points of outperformance in 2020 (just 2 months of data).
294 basis points of clearly winning in 2021 over the course of a full-year.
809 basis points of kicking up dust and darting off to the races in 2022 thus far.
Simulated Return Stacked 60/40 Absolute Return Index
Return Stacked 60/40 versus the Milquetoast 60/40 since 2000 very bad simulation (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Return Stacking Simulated Backtest
Over the past three years we've seen how the Return Stacked 60/40 has fared versus the Milquetoast 60/40 but what about the big picture?
Queue the most inaccurate, unofficial and potentially error-ridden simulation of all-time.
Important to note: I've used the data I have gathered for Global Min Vol Equities instead of global market-cap weighted equities. But the general overlay of SG Trend as a 60% addition should give a very rough estimate as to what sequence of returns could potentially look like over an extended period of time. 
And the long-term results?
320 basis points of total domination from the Return Stacked 60/40 over the Milquetoast 60/40
15/22 years of better annual performance from the Return Stacked 60/40 versus the Milquetoast 60/40

Additionally, the Return Stacked 60/40 had one less negative year overall and a worst overall year that was less significant as well.
No jarring negative years that equity-only investors are accustomed to over time.
Basically a masterclass of better performance and enhanced stability overall.
If you're still convinced the Milquetoast 60/40 is a better option than the Return Stacked 60/40 I've got no words for you gentle kind soul.
You're on a raft all by yourself.

Return stacking dosas while traveling in India
Return Stacking Branding
In many ways return stacking is a branding stroke of genius.
Think of all the fun ways you've stacked things together in your life over the years.
Lego stacking was awfully fun as a kid. You could create anything you wanted with enough imagination.
Building a house, brick by brick, is a stacking procedure that ultimately leads to a home.
Return Stacked thalis in India
It's even fun to be a greedy when it comes to stacking.
Think of the tempting low-cost upgrade scenarios where we have chances to stack an extra patty on our burger or upgrade our soda, so that it's bigger than our heads.
In a more serious tone stacking together enough days of study, discipline or exercise leads to a transformation in fitness, learning a new language or pursuing a new artform.
The key point of stacking is that it is a positive message and positive branding.

When it comes to thinking of all-weather or all-seasons, my initial thought is towards carrying an umbrella due to the threat or rain or tearing around off-road in a 4X4 enjoying all-season tire performance.
I like to be prepared for all-weather and all-seasons but stacking is more fun.
How about risk-parity?
Yikes.
It includes the word "risk".
Maybe the ultimate in challenging branding given that it is negative and/or fear based.

Put on a sweater or else you'll risk catching a cold.
Don't go out late at night or you'll risk getting mugged.
Risk-management is of course important but I prefer a more positive message and I feel stacking offers just that.
Source: Pixabay
Lifecycle Investing and Return Stacking
For those individuals on Twitter espousing aggressive equity only strategies, for early-life stage accumulators, it seems every other tweet is related to investor psychology.
Learn to love volatility/drawdowns.
Learn to make volatility/drawdowns your friend. 
Those are most clever.
I'll try one too:
Suck on that lemon with gusto and doe-eyed glee all at once now.

In what other spheres of life do we expect the average everyday citizen to learn to love drawdowns and negative volatility?
Housing?
Enjoy moving from your dream home, where your family enjoys comfort and security, to suddenly cramped quarters in a rough part of town. Learn to make living on top of one another your friend. Don't just enjoy it. Love it!
Work/Salary?
Enjoy your significantly reduced pay-cheque and massively eroded purchasing power. Learn to enjoy struggling to make ends meet your friend.
Maybe it's time to admit industry-wise and as strategists, advisors and investors we've been going about things wrong for those in the accumulation stage of investing.

The truth is that a 1-2 left-hook and right uppercut of recency bias and loss aversion derails these types of aggressive investing strategies when a 2008 scenario rears its ugly head.
How many investors learned to love volatility under that scenario?
For many that was a permanent exit point.

Return Stacking For The Accumulator/Retiree
All-weather expanded canvas approaches allows accumulators to achieve the returns they need for future stages in life without the roller-coaster ride of jarring drawdowns.
How about for those nearing or enjoying retirement?
Well conventional wisdom means dialing down risk with the associated cost of reducing annual returns.
Increasing allocation towards bonds while shrinking equities.
The biggest problem here is when retirees haven't saved enough for a life that may extend well into their 80s or 90s.
Finding a portfolio solution that can provide high returns yet manage downside risk ought to be the goal as opposed to sacrificing returns.
Hence, I believe all-weather expanded canvas portfolios have the potential to serve both the accumulator and the retiree.
This would represent a paradigm-shift in investing strategy and asset allocation for all stages of life.

What Are All The Potential Benefits Of Return Stacking?
In the intricate tapestry of modern portfolio theory, the concept of Return Stacking emerges as a sophisticated strategy, offering a plethora of advantages, particularly in enhancing portfolio efficiency and resilience. This innovative approach pivots around the idea of layering distinct investment returns, a method that transcends traditional asset allocation models, thereby unlocking a new dimension of portfolio optimization.

Augmenting Long-Term Growth Trajectories
Central to the allure of Return Stacking is its potential to amplify long-term growth rates. This is attained through the strategic layering of investment returns, whereby each dollar invested potentially accrues more than a dollar's worth of exposure. This technique diverges from the conventional wisdom of portfolio diversification. By integrating additional return streams atop the foundational assets, investors may witness an elevation in their portfolio's growth trajectory over extended periods. This aspect is particularly compelling in the context of long-term investment horizons, where compounded growth plays a pivotal role.

Mitigating the Perils of Market Drawdowns
Another salient feature of Return Stacking is its defensive prowess. In an investment landscape riddled with uncertainties, the capacity to mitigate significant market drawdowns is invaluable. This is achieved through the judicious selection of diversified return sources. By crafting a portfolio that interweaves these varied sources, investors potentially insulate their holdings from severe market downturns that can irreversibly impair a portfolio's value. This strategic diversification does not merely cushion against volatility; it also sustains the portfolio's growth potential amid tumultuous market phases.

Preservation of Core Portfolio Constituents
A noteworthy advantage of Return Stacking is its ability to preserve core portfolio assets. Traditional approaches often necessitate the liquidation of primary holdings — typically stocks and bonds — to accommodate alternative investments. Such reallocations can induce performance drag, particularly when alternatives underperform relative to core assets. Return Stacking circumvents this dilemma by allowing investors to retain their fundamental holdings while strategically overlaying alternative allocations. This method not only preserves the bedrock of the portfolio but also opens avenues for additional growth through alternative investments.

Enhanced Withdrawal Strategies in Retirement Planning
In the realm of retirement planning, Return Stacking introduces an intriguing dimension. It potentially enables retirees to modestly escalate their withdrawal rates, thereby providing a more comfortable retirement lifestyle without significantly jeopardizing the longevity of their portfolio. This facet is especially pertinent for retirees navigating the precarious balance between portfolio preservation and meeting their financial needs in retirement.

Versatility Across Investment Life Phases
The versatility of Return Stacking extends its benefits across various life phases of investors. While it offers diversification and growth enhancement for those in the accumulation phase, it equally benefits those in the withdrawal phase, such as retirees. This dual utility underscores the adaptability of Return Stacking in catering to a wide spectrum of investment objectives and timelines.

Minimized Performance Drag from Alternative Investments
One of the challenges in incorporating alternative investments into a portfolio is the potential performance drag that can occur when these alternatives underperform core assets like stocks and bonds. With Return Stacking, the necessity to sell core assets is eliminated, allowing investors to maintain their fundamental investment positions while adding alternative strategies. This approach can reduce the performance drag that might otherwise occur during periods when alternative investments underperform.

Adaptability to Market Conditions
Return Stacking offers a dynamic framework that adapts to varying market conditions. By allowing for the introduction of strategic alternative allocations, investors can better navigate periods when their core assets are underperforming. This adaptability is crucial in managing portfolio risk and enhancing returns across different market cycles.

Reduction in Sequence Risk
Particularly relevant for retirees, Return Stacking can reduce sequence risk - the risk of encountering poor investment returns in the early years of retirement. By diversifying the sources of returns and potentially reducing equity exposure, Return Stacking can provide a more stable return profile, which is particularly important for those drawing down their investments in retirement.
Return Stacking stands as a paradigm shift in portfolio management, offering a multifaceted approach to enhancing growth, reducing risk, and maintaining portfolio integrity. Its strategic layering of returns transcends traditional asset allocation, providing investors with a robust framework to navigate the complexities of the financial markets.
Return Stacking Pros and Cons
Source: Pixabay

Return Stacking Pros

All-Weather approach to investing balancing equities, bonds and alternatives that is regime ready for any economic environment
Performance collides with risk management where you'll enjoy great returns without the jarring drawdowns
Taking advantage of the best alternative sleeve strategies (that have the capability to adapt) such as managed futures, macro and convexity that offer advantages over static allocations to gold and commodities
A multi-asset + multi-strategy + fund of funds approach to diversification versus a single strategy approach
A portfolio with enough uncorrelated strategies that will most likely conspire to keep damage at bay when equities are struggling
A portfolio that isn't dependent heavily on equities as the only main driver of returns and point of failure during challenging markets
A chance to support some of the sharpest and most creative minds in the boutique space of asset allocation rather than get cozy with the big guys (the iShares and Vanguards of the industry)

Return Stacking Cons

The potential for tracking-error when the alternative sleeve is having a challenging year
Issue of investors or advisors not understand the benefits of esoteric alternative strategies and application of modest leverage to create more space in the portfolio

Source: Pixabay
Return Stacking Total Portfolio Solution
Does the Return Stacked 60/40 represent a potentially viable total portfolio solution?
In a word. Yes.
As a fund of funds featuring multiple asset classes and multiple strategies that cover equities, bonds and alternatives its the whole package creatively put together.
100% Return Stacked 60/40 Portfolio
That's it. You're done.

Return Stacked Core Portfolio Solution
The Return Stacked 60/40 as a core holding gives investors a great base to push-off from in any direction they so desire.
The suggestions I'll provide are for those committed to the expanded canvas portfolio as the core overall strategy.
If an investor wanted to pursue more equity exposure they could consider adding WisdomTree 90/60 efficient core NTSX, NTSI and NTSE.
That might look like this:
50% Return Stacked 60/4025% NTSX15% NTSI10% NTSE
For allocators seeking more bond exposure than equities in the portfolio it would be easy to tinker a little bit with the formula and efficiently add more fixed income by utilizing Simply's 3X TYA.
This would be something to consider:
90% Return Stacked 60/4010% TYA
For contrarian investors more committed to the alternative sleeve of their portfolio they could tack-on more of a fund like Standpoint Multi-Asset REMIX / BLNDX which is a 50/100 equity + trend-following combination.
You might want to try that one on for size:
80% Return Stacked 60/4020% REMIX / BLNDX

Return Stacking Partial Portfolio Solution
For investors curious about expanded canvas portfolios (featuring an alternative sleeve) but not wanting to commit fully to the strategy beyond it could pair well with whatever you've currently got under the hood.
A potential idea to ponder:
10 to 20% Return Stacked 60/4080 to 90% Whatever You've Got Under The Hood
Nomadic Samuel enjoying time hiking in Germany
Final Thoughts From Nomadic Samuel
Expanded canvas portfolios that adhere to a 1-2-3 process of diversification between equities, bonds and alternatives offer investors exciting opportunities to potentially enjoy enhanced returns while managing downside volatility.
Would the Return Stacked 60/40 make it into my portfolio?
Heck yeah!
It would honestly rocket up to one of my core holdings if not the biggest position in my portfolio.
The whole point of this blog is to explore contrarian asset allocation strategies to find the optimal mix where performance intersects neatly with risk-management.
The Return Stacked 60/40, in my opinion, is one of the best attempts to date, of attempting to find that pulse.
For now the Return Stacked 60/40 is an index that is exciting to track as a model for investors/advisors.
Whether it becomes an investable product (mutual fund or etf) has yet to be determined.

I'm not going to ask any of the creators of the of Return Stacked 60/40 the question of what is its ultimate purpose. That is for them to decide and reveal at a time they deem appropriate.
If/when there is any news to announce on that front, I'll update the article accordingly but for now the Return Stacked 60/40 is an exciting concept and model idea.
In the meantime, I'm kinda feeling ravenous over here.
All this talk of return stacking has me craving a return stacked artisanal burger with extra bacon, patties and cheese.
I'm gonna go grab that.
It's time to go clog my arteries.

#### Contrarian Expanded Canvas Portfolio | How I Invest with Nomadic Samuel
I was so blown away by the success, engagement and high retention time from the Investing Legends contributions on Picture Perfect Portfolios that I've decided to expand the genre by creating a new interview series entitled "How I Invest."

The idea, quite honestly, came from a couple of books by Tim Ferris that I enjoyed immensely:
Tools Of TitansTribe Of Mentors

Tim interviewed various experts, celebrities, and successful entrepreneurs using a template of thought provoking questions that really brought forth fascinating and diverse answers on a wide variety of subjects.

Instead of just serving up softballs and pandering towards the obvious strengths of the guests, the questions likely forced each participant to ponder and consider the journey they've been on including the highs and lows with lessons learned in between.

The goal I have for this series is to really unpack the "raison d'être" behind the specific investing strategies that certain investors pursue while trying to tease out the following:

What's under the hood of the portfolio
The potential pros and cons of that particular asset allocation/strategy
How others can adopt that particular strategy and/or gain the necessary experience to become skilled at it
What makes the investor tick (life experience, influences and lessons learned along the way)
Strengths and weaknesses of the investor and how they've attempted to either overcome them and/or double down on their strengths
How they've changed (or not changed) as an investor over the years

How I Invest as/with a....

DIY QuantAll Seasons PortfolioRisk Parity PortfolioMicro Cap Stock PickerLong Volatility TraderTrend FollowerSeasonality Investor60/40 BogleheadMarket TimerRisk On Risk Off PortfolioUnconstrained InvestorSimplicity Hedged with ComplexityETC...
I'll try my best to have guests who pursue a wide variety of investing styles and strategies.
The goal with this site is to continue to grow and expand our knowledge in pursuit of the subjectively "picture perfect" portfolio.
That's the only reason it exists.

So I'm excited to see what we can learn from these interviews.
Oddly, I'm going to start off by interviewing myself.
Yes.
That's kinda freakin' weird.
I know.
But it'll serve as a template for when I reach out to others.
The goal will be to create a 10 question template that I can easily send out via email.
I'll ask participants to create a short biography and also a section where we can connect with them on social media and/or any platforms they run (blogs, podcasts, YouTube channels, etc).
If you're reading this and would like to participate in the series please send me an email to nomadicsamuel at gmail dot com.
I'm honestly seeking investors of all pedigrees and experience levels; both amateurs and pros.
Anyhow, time to interview myself.
LOL.
Here it goes!
Source: Pixabay by user weinstock
How Nomadic Samuel Invests: Contrarian Expanded Canvas Portfolio

About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.
Source: Pixabay user DariuszSankowski
Investing Influences and Resources

Who were your greatest influences as an investor when you first started to get passionate about the subject?
How have your views evolved over the years to where you currently stand?
If you had to recommend a handful of resources (books, podcasts, white-papers, etc) to bring others up to speed with your investing worldview what would you recommend?
The first book I ever read about investing many years ago was the "Wealthy Barber" by David Chilton.
What was fascinating about that particular book was its use of fictional characters to convey a story about financial advice.
Roy, the Barber, became wealthy by simply saving and investing sensibly over a long period of time despite not having what many would consider a financially lucrative career.

It introduced to me the concept of compound interest as a miracle that manifests itself with a long enough runway.
When I became an overnight basement dweller during the pandemic, I devoured numerous books on the subject of investing.
The ones that really stand out in no particular order are as follows:

My Favourite Investing Books

Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today by Larry Swedroe and Andrew Berkin
Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility by Larry Swedroe and Kevin Grogan
The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein
Your Money and Your Brain by Jason Zweig
Risk Parity: How to Invest for All Market Environments by Alex Shahidi
Adaptive Asset Allocation: Dynamic Global Portfolios to Profit in Good Times - and Bad by Adam Butler, Rodrigo Gordillo and Mike Philbrick
Trend Following: How to Make a Fortune in Bull, Bear, and Black Swan Markets by Michael Covel
Mastering The Market Cycle: Getting the Odds on Your Side by Howard Marks
Predicting the Markets: A Professional Autobiography by Edward Yardeni
Expected Returns on Major Asset Classes by Antti Ilmanen

It would be impossible to cover everything I learned in those 10 books without writing one myself.
Hence, if I can summarize briefly these would be the most important lessons

My Five Most Important Investing Lessons

Diversification is your only free lunch (take it)
No sensible investing plan survives impatience
Leverage is a tool you can utilize to enhance your portfolio by managing risk and returns, or aid in blowing it up entirely via concentrated bets
Zooming out and seeing the big picture is an advantage you can have as an investor compared to just about everyone else
Being contrarian allows you to shake the shackles of benchmarks, orthodoxy and herding to create a portfolio that suits your needs, personality and investing goals

Given that I do a lot of video editing and SEO work from my computer at home, I have the unique privilege of listening to investing podcasts while I'm working on certain projects.
My favourite Investing Podcasts are as follows:

My Favourite Investing Podcasts

Resolve Riffs
Pirates of Finance
The Meb Faber Show
The Derivative by RCM Alternatives
Excess Returns

If you can figure out a way to listen to these shows while you're multi-tasking (working, cooking, exercising, etc) it is amazing the amount of information you can absorb without necessarily needing to carve out additional space in your weekly schedule.

Events That Have Shaped You As An Investor
Aside from investing influences, what real life events have molded your overall views as an investor?
Was it something to do with the way you grew up?
Taking on too much risk (or not enough) early on in your journey/career as an investor?
Or just any other life event or personality trait/characteristic that you feel has uniquely shaped the way you currently view yourself as an investor.
Education.
Travel.
Work Experience.
Volunteering.
A major life event.
What has helped shape the type of investor you've become today?

I grew up in a tiny resource based community on Vancouver Island, British Columbia, Canada.
I remember winning a colouring contest in grade three with the prize of getting to fly over the town in a helicopter.
I was in awe of the surrounding mountains and forest sprawling in all directions.
The village of Gold River was just a spec carved out in the woods with a high enough vantage point.
At ground level it was a booming resource based community with one of the highest per capita incomes of any small-town in Canada during the mid 80s and early 90s.
Source: Town of Gold River Struggling on YouTube via CTV News
Yet, that all changed overnight when both the pulp and paper mill shutdown permanently.
The amount of lives ruined by that event was unfathomable.
Divorce.
Suicide.
Financial ruin.
Some folks pivoted and actually started lucrative new careers and/or businesses but for many individuals the shock of the situation and the lack of a back-up plan was devastating.
The town these days looks dilapidated.
I, along with my parents, moved away many years ago but I recently had a chance to return with my wife Audrey for the first time in decades while working on a campaign on the island.
I made a video about the one day visit we had here.
Source: Uchuck III to FRIENDLY COVE Nootka Sound + Visiting GOLD RIVER on Vancouver Island, British Columbia on YouTube via Samuel and Audrey
It's an in your face reminder, at least to me, that many good things eventually come to an end.
Seeing where you grew up become a shadow of its former self does impact the way you view the world at large and also how you invest.
I'm probably more attuned to risk than most other investors given those circumstances.

Source: en.wikipedia.org/wiki/Gold_River,_British_Columbia

Conversation With Your Younger Self
Imagine you could have a three hour conversation with your younger self.
What would you tell the younger version of yourself in order to become a better investor?
Something that you know now that you wish you knew back then.
I would inform my younger self that you don't necessarily have to choose risk over reward or vice versa.
I've learned through research that a modest amount of leverage applied to a portfolio with enough uncorrelated asset classes and strategies allows for returns to collide with risk management in a way where you can have your cake and eat it too.

I used to just think it was one over the other.
More equities if you're keen on returns.
More bonds if you're risk adverse.
That's it.
Yet, when you realize you can construct a portfolio that moves beyond merely stocks and bonds, you have all kinds of diversified opportunities to utilize leverage to enhance returns while managing volatility.
Here is the most basic example.
We'll only use US equities, 10 Year Treasury and Gold to illustrate the point.
Individually, they're all incredibly flawed line items in the portfolio.
Lost decades for US equities in the 70s and 2000s.
A brutal 26 year underwater period for Gold lasting from the early 80s until the mid 2000s.
Anemic relative returns from the 10 year treasury even though it offered a smoother journey.

Yet when you combine them together magic happens.
Why?
Because they're uncorrelated asset classes.
They zig and zag and zig and zag some more all at different times.
And because of this you're not caught with your pants down the same way you'd be if you only had exposure to one asset class.
Overall: US Stock Market vs Gold vs Equal Parts
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
Let's feast our eyes upon the Portfolio Returns of US Stocks, Gold and Equal Parts US Stocks, Gold and 10 Year Treasury since 1972.
For US Stock Market or Gold only investors what a ride it has been!
Worst years of -37.04% and -32.60% respectively.
Max drawdowns of -50.89% and -61.78%.
How many investors pursuing that type of strategy held on tight when it got that volatile?
Not many.
How about the equal parts portfolio?
It crushed the single line items in terms of standard deviation, worst year, maximum drawdown, Sharpe ratio and Sortino ratio while offering returns close to US equities.
Drawdowns: US Stock Market vs Gold vs Equal Parts
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
My oh my the drawdowns for US Stocks and Gold as single line items in the portfolio are scarier than a wicked roller coaster ride.
Whereas the equal parts diversified portfolio offers a silky smooth ride in comparison.
Rolling Returns: US Stock Market vs Gold vs Equal Parts
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
US Stock Market investors would have had to endure a roll period with negative 10 year returns at -2.57%!
Indeed, a lost decade!

Gold only investors would have faired worse.
15 years of pain and then some!
Equal parts investors had a sequence of returns risk roll period of only one negative year.
If that's not a convincing enough argument to diversify your portfolio, I don't know what is!
But what if you're interested in returns that are better than equities but without the jaw dropping risk?
Too good to be true?
Let's find out what happens when we add a modest amount of leverage to the equation at 60%.
Overall: Equal Parts US Stocks, Gold and 10-year Treasury with 60% Leverage
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
With a 160% canvas portfolio of equal parts US stocks, 10 year Treasury and Gold we're able to convincingly exceed the returns of US only equities with a 14.84% CAGR versus 10.46% CAGR.
More importantly, we're able to control volatility across the board including standard deviation, worst year, maximum drawdown, Sharpe Ratio and Sortino Ratio as the whipping cream and cherry on top.
For instance, a -37.04% worst year for US stocks versus -16.79% worst year for the equal parts US stocks, gold and 10 year treasury portfolio with modest 60% leverage.
Roll Period: Equal Parts US Stocks, Gold and 10-year Treasury with 60% Leverage
source: portfoliovisualizer.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
And the knockout blow is that the roll period doesn't change the results even when leverage is applied.

The equal parts portfolio with a 160% canvas still only has a negative low roll period of 1 year versus 10 years for US equities.
Now, I don't recommend this portfolio as this is just the peanut butter, strawberry jam and wonder bread example of how uncorrelated asset classes back-test over 6 decades.
There are numerous ways to further diversify your portfolio that I'll explore more in detail when I reveal what I have under the hood of my portfolio.
But it should give equity only investors a chance to pause and reflect when it comes to the risk/reward profile of their portfolios.
I used to be one of you guys.
But not anymore.
Source: Pixabay by user Alexas_Fotos
Contrarian Expanded Canvas Portfolio: Pop Open The Hood!

Let's pop the hood of your portfolio.
What kind of goodies do we have inside to showcase?
Spill the beans.
How much do you got of this?
Why did you decide to add a bit of that?
If you'd like to go over every line-item you can or if would be easier to break your portfolio into categories or quadrants that's another route worth considering.
When do you anticipate this portfolio performing at its best?
And at its worst?
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 
Recently, I wrote an entire article going over my expanded canvas DIY quantitive portfolio.
Thus, instead of rehashing that entirely here, I'll elect to go with the quadrant approach of explaining what I've got under the hood in quadrants as opposed to individual line items.

UPAR
15.00%
ULTRA RISK PARITY ETF

HRAA.TO
15.00%
HORIZONS RESOLVE ADAPTIVE ASSET FUND

ONEC.TO
10.00%
ACCELERATE ONECHOICE ALTERNATIVE PORTFOLIO

PFAA.TO
10.00%
PICTON MAHONEY FORTIFIED ABSOLUTE ALPHA ALTERNATIVE

NTSE
7.50%
WISDOMTREE EMERGING EFFICIENT CORE FUND

GDE
7.50%
WISDOMTREE EFFICIENT GOLD PLUS EQUITY

NTSI
5.00%
WISDOMTREE INTERNATIONAL EFFICIENT CORE FUND

FIG
5.00%
SIMPLIFY MACRO STRATEGY ETF

KMLM
5.00%
KFA MOUNT LUCAS INDEX STRATEGY

DBMF
5.00%
IMGP DBI MANAGED FUTURES STRATEGY ETF

ATSX.TO
5.00%
ACCELERATE ENHANCED CANADIAN BENCHMARK ETF

PFAE.TO
5.00%
PICTON MAHONEY FORTIFIED ACTIVE EXTENSIONS

HDGE.TO
5.00%
ACCELERATE ABSOLUTE RETURN HEDGE FUND

My goal as an investor is to utilize an expanded canvas portfolio to stretch the limits beyond 100%.
I specifically am seeking to add uncorrelated asset classes and strategies by efficiently creating space in my portfolio.
For instance, NTSE takes the 60/40 version of Emerging Markets and Treasuries and dials it up to 90/60.
This creates additional real estate in my portfolio to add alternative strategies such as trend following managed futures, global systematic macro, merger arbitrage, long-short equities, market neutral hedging, bitcoin and long volatility portfolio insurance.
I'm not using leverage to dial up the exposure and associated risk of any particular asset classes such as equities only.
Instead I'm attempting to add unique return streams to my portfolio while concertedly managing its risk profile overall.
When I'm adding/subtracting funds from my portfolio I try to ponder how does this improve the diversification of my portfolio, if at all?
Let's explore what I've got in a bit more detail.

Risk Parity = 30%
I would describe the main backbone of my portfolio as a hybrid risk-parity allocation.

UPAR at 15% provides the static long-only 168% expanded canvas allocations to global equities (US, EAFE, EM), TIPs, Long-Term Treasury and Gold/Commodities whereas HRAA.TO at 15% is the adaptive version where I have long/short exposure to equity, bond, commodities and currency indexes utilizing a bespoke global systematic macro approach via trend-following, seasonality, carry, value and other strategies.
I love the ying-yang component of static versus adaptive here.
For those wondering about Risk Parity investing, it's allocating based on risk and not returns.
For instance, TIPs and Long-Term Treasury have a much lower standard deviation than stocks and gold.
Hence, in a risk parity portfolio you'd allocate a greater percentage of resources to the less risky line items versus the more volatile ones.
Efficient Core = 20%
The efficient core of my portfolio consists of 90/90 and 90/60 funds.

I've got GDE at 7.5% providing 90/90 US equities and gold and NTSE at 7.5% and NTSI at 5% providing 90% exposure to Emerging Markets and International Developed Equities in tandem with 60% treasuries.
I love that these funds provide outsized exposure to help create space in my portfolio for additional alternative strategies.
Furthermore, they're some of the cheapest in terms of management fees as well.
A win all around in my opinion.
Long/Short Equities = 15%
I get a bit more aggressive over in the wing of my long-short equities sleeve.

Here I'm utilizing mostly expanded canvas 140-40 funds to get exposure to multi-factor equities minus junk.
The goal is to have extended deep factor exposure to drive outsized returns while also capturing the other side of the equation by shorting shitcos.
I've got PFAE.TO at 5%, ATSX.TO at 5% and HDGE.TO at 5% filling out the roster spots.
Alternatives = 35%

The alternative sleeve is the secret sauce of my portfolio.
It's where I most deviate from the pack in terms of asset allocation, seeking unique return streams and strategies.
The primary strategies I have exposure to are trend-following, merger arbitrage, market neutral equities, special situations credit and gold.
I have secondary exposure to other global systematic managed futures strategies, tail risk hedging (long volatility puts), covered calls, REITs, private loans and high yield bonds.
In order to capture all of this I have ONEC.TO at 10%, PFAA.TO at 10%, DBMF at 5%, KMLM at 5% and FIG at 5%.
Wishlist
I'm seeking more efficient core access to factor equity strategies such as global minimum volatility, momentum, value and size.
I'd love to see the 90/60 market-cap weighted funds offer the same (or similar) products with factor based strategies instead.
I'd also love to have exposure to strategies that are still difficult to access for retail investors such as reinsurance and private equity/credit.

Overall though, I'm thrilled with my portfolio as it is and I'm also highly cognizant that many of these funds/strategies were not available to DIY investors until recently.
For that I'm very grateful.

Investing Skills Required To Pull It Off
What kind of investing skills (trading, asset allocation, investor psychology, etc) are necessary to become good at the style of investing you're pursuing?
Is there a certain type of knowledge, experience and/or personality trait that gives one an advantage running this type of portfolio?
To arrive at the portfolio I've assemble takes a curious mind.
If your knowledge base and convictions are stuck at market-cap weighted equities and bonds is the only (and best) game in town, an expanded canvas portfolio is not for you.
Plain and simple.

Thus, the continuous desire to want to learn and to have a goal of integrating long-only traditional asset classes such as stocks, bonds, commodities and gold with more esoteric strategies in the managed futures and options space is when you end up with a portfolio like mine.
Believe you me I'm fully aware this type of portfolio isn't for everyone.
It also requires tremendous patience in order to pull it off long-term as the results will not be anything like a 60/40.
If you're addicted to comparing your portfolio to industry standard benchmarks please run for the hills if you're thinking of test-driving the one I'm using.

Yet, I feel it's the perfect fit for me.

Toned Down and More Aggressive Version Of My Portfolio
What would be a toned down version of your portfolio?
Something that's a bit watered down.
Conversely, what would be a more aggressive version of your portfolio, if someone were willing to take on more risk for a potentially greater reward?
It would be really easy to tone down my portfolio by utilizing less leverage, tilting more towards bonds and replacing some of the aggressive long-short equity strategies with market neutral ones.
Here is what I'd do specifically:

UPAR to RPAR.
This switch takes you from a fund offering a 168% canvas to 125% canvas.
NTSI to ISWN.
From 90/60 International Developed Equities and Treasuries to 70/90.
PFAE.TO to PFMN.TO
Going from Picton Mahoney 140/40 to the market neutral mandate they offer.
ATSX.TO to PLV.TO
Going from 140-40 equities to an asset allocation fund of global low volatility equites and 30% corporate bonds.
HDGE.TO to QBTL.TO
A long-short combination of multi-factor equities minus junk being replaced by a fund offering market neutral anti-beta.
For US investors the fund BTAL is the same strategy.
That is enough to tilt this portfolio more conservative without losing its spirit.
This is what it looks like exactly.

Conservative Nomadic Samuel Portfolio

RPAR
15.00%
RISK PARITY ETF

HRAA.TO
15.00%
HORIZONS RESOLVE ADAPTIVE ASSET FUND

ONEC.TO
10.00%
ACCELERATE ONECHOICE ALTERNATIVE PORTFOLIO

PFAA.TO
10.00%
PICTON MAHONEY FORTIFIED ABSOLUTE ALPHA ALTERNATIVE

NTSE
7.50%
WISDOMTREE EMERGING EFFICIENT CORE FUND

GDE
7.50%
WISDOMTREE EFFICIENT GOLD PLUS EQUITY

ISWN
5.00%
AMPLIFY BLACKSWAN INTERNATIONAL ETF

FIG
5.00%
SIMPLIFY MACRO STRATEGY ETF

KMLM
5.00%
KFA MOUNT LUCAS INDEX STRATEGY

DBMF
5.00%
IMGP DBI MANAGED FUTURES STRATEGY ETF

PFMN.TO
5.00%
PICTON MAHONEY FORTIFIED MARKET NEUTRAL ALTERNATIVE

PLV.TO
5.00%
INVESCO LOW VOLATILITY PORTFOLIO ETF

QBTL.TO
5.00%
AGFiQ US MARKET NEUTRAL ANTI-BETA ETF

The more aggressive version of my portfolio is a cinch to put together.
It involves no changes but further expanding the canvas.
You'd need a margin account and to borrow 50% to expand the expanded canvas portfolio to 150%.

Now keep in mind the funds I have already utilize leverage to begin with, so I'm not suggesting or recommending this at all.
But since the question was asked I feel the need to provide an answer.
Please notice the adjusted percentages below.

Aggressive Nomadic Samuel Portfolio

UPAR
20.00%
ULTRA RISK PARITY ETF

HRAA.TO
20.00%
HORIZONS RESOLVE ADAPTIVE ASSET FUND

ONEC.TO
15.00%
ACCELERATE ONECHOICE ALTERNATIVE PORTFOLIO

PFAA.TO
15.00%
PICTON MAHONEY FORTIFIED ABSOLUTE ALPHA ALTERNATIVE

NTSE
7.50%
WISDOMTREE EMERGING EFFICIENT CORE FUND

GDE
7.50%
WISDOMTREE EFFICIENT GOLD PLUS EQUITY

NTSI
5.00%
WISDOMTREE INTERNATIONAL EFFICIENT CORE FUND

FIG
15.00%
SIMPLIFY MACRO STRATEGY ETF

KMLM
15.00%
KFA MOUNT LUCAS INDEX STRATEGY

DBMF
15.00%
IMGP DBI MANAGED FUTURES STRATEGY ETF

ATSX.TO
5.00%
ACCELERATE ENHANCED CANADIAN BENCHMARK ETF

PFAE.TO
5.00%
PICTON MAHONEY FORTIFIED ACTIVE EXTENSIONS

HDGE.TO
5.00%
ACCELERATE ABSOLUTE RETURN HEDGE FUND

You'll notice the Risk Parity and Trend-Following strategies have been boosted the most so as to more effectively manage volatility as opposed to jacking up the portable beta and long-short equities.

My Greatest Strengths and Weaknesses as an Investor
What do you feel is your greatest strength as an investor?
What is something that sets you apart from others?
Conversely, what is your greatest weakness?
Are you currently trying to address this weakness, prevent it from easily manifesting or simply doubling down on what it is that you're great at?
Curiosity and keeping an open mind is my greatest strength as an investor.
I'm interested in forever being a sponge investor thrilled by soaking up new information while expelling junk.
My plan is to only keep inside of my sponge what makes sense to me as I learn, acquire, evolve, absorb, reject and disavow over time.
My greatest weakness fortunately for me doesn't revolve around patience issues.
For some reason I firmly believe I've got firm grasp of the importance of staying the course with the strategies I'm pursuing.
I fully expect for each and every one of them to underperform for significant periods of time and I'm anticipating that with eyes wide open.

Thus, my greatest weakness is without a doubt being attracted to complex things.
If you notice, nothing in my portfolio involves a single strategy fund.
I have no long-only equity funds or long-only bond tickers or long-only commodities ETFs.
Instead, I have long-only equity plus treasury and/or gold funds.

Or multi-asset class and multi-strategy fund of funds.
In order for a fund to capture my attention it must offer more than one strategy.
And my biggest fear is that I'll one day wake up with a portfolio that is maybe 100% alternatives or something along those lines.
LOL.
In order to prevent myself from doing that I plan on floating the current manifestation of my portfolio to a few trusted friends for a second opinion.
If those around me, who I admire the most and trust, feel as though I've lost the plot then I'm sure that I have.
Because I'm a curious investor (strength) I do plan for my portfolio to change and evolve as I learn more about different strategies and when new and potentially better products come to market.
However, I'm trying to firmly establish a rule where I'm not just adding funds for the sake of it because they're new and alluring.
They truly need to enhance my portfolio from what I currently have on roster.
Thus, the tug-of-war between my curious mind and propensity for enjoying complexity will likely forever duke it out.

And I'm okay with that.
That's just me.
I ain't gonna change.
So warts and all I march forward.

Things You Agree and Disagree With As An Investor
What's something that you believe as an investor that is not widely agreed upon by the investing community at large?
On the other hand, what is a commonly held investing belief that most in the industry would  agree with that rubs you a bit differently?
The use of leverage is such a polarizing subject that it can cause two investors who generally agree about everything under the sun to suddenly look at each other as though they were aliens.
The fact that I believe modest applications of leverage can potentially enhance a portfolio by expanding its canvas to accommodate unique and uncorrelated asset classes/strategies is definitely anything but the norm.
Most investors think leverage equals annihilation.
And they're not wrong.
When you hear the stories of investors blowing up it almost always involves leverage as part of the equation.

But what they may not realize is that this almost entirely involves applications of concentrated leverage.
Dialling up a single asset class that is already risky and volatile (such as equities) to levels way beyond 100%.
Worse, is when it is just a handful of stocks making the leverage and volatility even more concentrated.
However, if you consult the example I gave earlier in the article with equal parts US equites, Gold and the 10 Year Treasury it's possible to use leverage to enhance returns and manage risk.
So my belief that leverage is not a four letter word definitely puts me into contrarian investor territory.
Whew.
That's my favourite spot to be.
Not just in investing but in life too.
On the other hand, one thing I don't agree with entirely that most people in the industry believe firmly is that fear causes panic selling.
I'm sure that fear plays a role in investors selling when markets are going down sharply.

However, I believe it is just plain old vanilla impatience that causes bad investor behaviour most of the time.
The kind of impatience that ticks you off when you're waiting in line at the grocery store or the light turns red before you can make it through the intersection.
A better example might be the quarterback on TV from your favourite football team not being able to complete passes.
After a while you just can't stand it anymore.
This guy sucks!
Get rid of 'em!
And this extends to the way most investors manage their portfolio.

They just get frustrated and impatient with the results of certain funds and underperforming benchmarks or having lost decades.
They'll proclaim a strategy is dead and move on.
Thus, I feel it is being impatient rather than being afraid that drives most bad short-term decisions for investors.
I've never talked or written about this before, so I'd be curious to know if you agree with me or not.

Investing Subject Area To Further Explore
What's a subject area in investing that you're eager to learn more about?
And why?
If you knew more about that particular topic would it influence the way you'd construct your portfolio?
Oh, that's an easy one.
I want to learn more about options based trading strategies.
I'd love to know how volatility strategies can better enhance the risk/reward profile of your portfolio.
I've just wrapped my head around trend-following and other managed futures strategies but I'm admittedly quite green when it comes to options based investing.

How do I plan to learn more about the subject?
The same way I have with everything else.
Books.
Podcasts.
White papers.
Pulling my hair out more than once.

The Anti-Nomadic Samuel Portfolio
What would be the ultimate anti-Nomadic Samuel portfolio?
Something you'd never own unless you were duct-taped to a chair as a hostage?
What about this portfolio is repulsive to you?
Conversely, if you were forced to Steel Man it, what would potentially be appealing about the portfolio to others?
What is so alluring about it?
I'm tempted to be a little goofy and go with the 60/40 combination of TESLA and shitcoins but I'm going to just say the plain old 60/40.
Now if you duct-taped me to a chair and threatened my life I'd be okay owning this.
Just want to get that clear.

However, I do feel that that market-cap weighted 60/40 strategy represents everything that is mediocre, bland and insipid about the investing industry at large.
It's repulsive to me because it lacks creativity and I feel constructing a portfolio should be equal parts art and science.
In terms of direct constructive criticism I feel as though it doesn't prepare investors for every economic outcome (especially stagflation) and is lacking from a strategic diversification standpoint.

It's easy for me to Steel Man this approach because its the McDonald's of investing.
It's the average portfolio for the average investor just as eating junk food is the average diet for the average person.
Far from optimal in my opinion but easily accessible.
And like junk food that lures you in with cheap prices and easy to pop open bags of sugary/salty poison, the 60/40 is the lowest cost portfolio you can slap together.

And if you believe fees are the most important thing to consider as an investor you'll be happy to own it.
So I totally understand why most people do.
I'm just glad I'm not one of them.

#### Early Retirement Extreme | How I Invest with Jacob Lund Fisker
When I first came up with the idea for the "How I Invest" series I wanted to shine the spotlight upon skilled contrarian professional and amateur investors who are doing things a bit differently.
Although my next guest is not a quant legend in the sense that someone like Meb Faber or Larry Swedroe would be to the investing community at large, he is a "personal legend" to me in the sense that he's written the most influential book of all-time (by a country mile in my opinion) about early retirement and lifestyle optimization:
Early Retirement Extreme - A philosophical and practical guide to financial independence by Jacob Lund Fisker

Early Retirement Extreme
Indeed, that's a bold statement but I'd challenge anyone who has an interest in the subject of achieving financial independence to read this book and then tell me otherwise.
It's the type of book that should be purchased and read annually the same way you'd benefit from rereading Nassim Taleb's Incerto series or The Almanack of Naval Ravikant where timeless wisdom related to different topics would speak to you in a profound manner each and every time.

To say Jacob Lund Fisker is one of the OGs of the FIRE movement would be a gross understatement.
His blog Early Retirement Extreme and book by the same name provide a comprehensive approach to achieving a financially independent lifestyle.
Both cover topics such as economic degrees of freedom, Renaissance ideals and lifestyle along with strategies, tactics and guiding principles to achieve financial freedom.
That's in direct contrast with typical surface level observations such as "drink less frappuccinos" and "invest in the S&P 500 and chill" from random FIRE blogger XYZ .
source: amazon.com and jacob lund fisker via earlyretirementextreme.com
Getting back on track to the subject of investing, I thought I'd share a couple of astute observations from Jacob that appear in his book before we kick off the interview:
"At the highest level there are people who create new rules, that is, they find some aspect of the market and the economy that allows them to predict more correctly what the future price of an asset will be. Since they don't have to share their edge (fishing spot) with anyone, they can keep all the profits. Such research requires a bright mind and a lot of work, but the rewards are high (and of course proportional to the assets). Typically, new investment techniques start at this level and then diffuse down to the lower stages as more and more people pick them up and reduce the former edge (in investment parlance called alpha) to volatility (in investment parlance called beta). Various theories are in various stages of diffusion, with some still having an edge and others appearing to have no edge at all."

"Many associate effort with taking action, but not taking action is also a form of action. In fact, often not taking action is just what is required. The easiest way to get in the right frame of mind is to stop thinking like a farmer and start thinking like a hunter. A farmer (and a modern salary-, working-, and businessman) gets rewarded by activity. The more he does, the greater his reward. Conversely, a hunter isn't going to catch anything if he thrashes around in the woods, frantically looking for prey. A strategy where he first identifies the best place to hunt (skill) and then waits patiently for the opportunity to present itself, will be more successful."
This is the longest introduction I've ever written for any guest because his book produced "a paradigm shift" in the way I think about my lifestyle, savings, burn-rate, investments, finances, hobbies and life goals.
Thus, on a personal level, I'm beyond thrilled he's taking part in the series and without further ado let's turn things over to Jacob Lund Fisker.

How I Invest with Jacob Lund Fisker of Early Retirement Extreme
source: jplenio from pixabay
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

Meet Jacob Lund Fisker: Retired Astrophysicist by Age 33
I am one of the OGs of the FIRE movement having run the ERE website since 2007.
The ERE framework was the result of spending much of my twenties figuring out the most resource efficient way to living a creative and interesting life within a sustainable and equitable ecological footprint.
This comes to spending about $7,000/person/year.
I got serious about investing after realizing that putting in the effort to saving and accumulating for a few years made it possible to invest and trade money for money rather than going along with the earn-buy time for money scheme.

As someone who used "work for a living" this was a paradigm-shifting game changer even if it seems trivially obvious today now that FIRE has gone mainstream.
Thus began a lifelong learning process of trying to become a better caretaker of my financial capital.
I retired from my career in astrophysics in 2009 (age 33) after deciding that devising sustainable alternatives to the prevailing paradigm of consumption-maximization was more important to the world than publishing a few more decimal points about neutron stars.
source: radical personal finance on youtube

My Investment Career Began Before The Age Of The Influencer
Who were your greatest influences as an investor when you first started to get passionate about the subject?
How have your views evolved over the years to where you currently stand?
If you had to recommend a handful of resources (books, podcasts, white-papers, etc) to bring others up to speed with your investing worldview what would you recommend?

My investment career began in 2005 before the "age of the influencer", so I can't really point to anyone in particular.
Since I had put in the effort to live well without much spending, I had a savings rate of 75-80% despite my median salary as an academic junior/bench physicist.
After 5 years of living sustainably my pile of unspent savings was big enough to make me financially independent insofar it was invested wisely.
However, growing up in Denmark, I knew nothing about investing.
Investing in anything other than bricks was not a thing at the time over there.
I mainly read academic textbooks, which I vastly prefer to autobiographical "Here's what I did and so you can too"-stories.
My early influence was, therefore, mathematically oriented.

Black Scholes, Modern Portfolio Theory, efficient frontiers, correlations, financial analysis, and the likes.
As a physicist, I was more interested in diving deep into theory than practice.
It was immediately clear how economics and finance had a strong case of "physics envy".
They often made very simplifying assumptions about human behavior in order to make their relatively simple math tractable to pen and paper analysis.
For example, risk is often defined as volatility or price variance under an L2-norm which makes it easier for researchers to gather data and derive some algebra.
However, humans are generally not 16 times unhappier losing $4 compared to losing $1.
Neither are they just as happy making a dollar as losing a dollar!?!

To a practitioner or an actual human being this is common sense, but it took a while for economists to turn that into its own subfield (behavioral economics).
My scientist's focus was on what was potentially wrong with the model frameworks, whereas someone with an engineering-mindset would have focused on the conditions where the models worked well and proceeded to optimize them.
After spending a few years dabbling in options and value stocks and seeing the equivalent of the Emperor's New Clothes play out during the run up to the Global Financial Crisis, it eventually became obvious that markets are not always behaving according to econ/finance theory.
There was clearly something more to the complexity of the market than rational expectations theory.
Kinda like how there's more to playing poker than calculating the odds of a given hand.
Indeed, if markets were truly efficient, nobody would ever trade, because buyers and sellers would instantly agree on a new fair price every time new information was presented, thus creating a stalemate. (Please ponder this until it sinks in!)

However, this is not what happens.
Instead new information often causes disagreement about what something is worth.
The market is not guided by total information: There's layer on top of information, call it knowledge, that decides what to do about that information, and different investors have different kinds of knowledge.
There may even be yet another layer on top of the knowledge layer, call it wisdom.
Trading is the process to resolve the disagreement over knowledge as investors put their money where their mouth is.
As such I became more interested in why investors disagree despite everybody having efficient access to the same information.
The answer must be that different investors somehow see the same information differently and consequently value it differently.
They have different paradigms.
Potayto, Potahto!
I know that you know that I know that ... and so forth.
Different depths of playing.
The market is much more a kind of Keynesian beauty contest than we'd like to admit.

Later working as a quant on "Wall Street" for a few years (bucket list, checkmark) finalized the point that successful investing is not so much about being right but about being slightly less wronger than wrong.
The market can famously stay irrational longer than you can remain solvent.
However, staying out is not an alternative because cash is also a market position.
From this it follows that you may have to deal with sustained periods of irrationality in order to make or even keep your money in the face of inflation.
Instead of seeing investing as a rational objective pursuit, it is an intersubjective construct.
This is not really different from other human action.
So I began to focus more on the practical psychology of investing.
Not simply my own biases, but those of other investors and how people form their worldview.
Bias lends itself to one-variable statistical analysis and this is why behavioral economics is a thing.
But biases don't exist independently.
The act of forming a biased framework is much more complex.
This also makes it more interesting.

The aggregate process of resolving this disagreement within the individual limits of hierarchical complexity creates the market dynamics.
I see the market as a mass experiment is applied human psychological development.
A handful of books is never going to get anyone up to speed, but if you want a taste of how I approach the markets, these three are the closest I can think of.
Caveat: They may not mean the same to you as they do to me.

They are definitely not a good place to start for beginning investors:Mastering The Market Cycle: Getting the Odds on Your Side
Investing: The Last Liberal Art (Columbia Business School Publishing)
More Than You Know: Finding Financial Wisdom in Unconventional Places
For those who want to pursue a similar path to mine, I suggest the following approach:
Intuition needs to be rooted in numbers and psychology, so three steps along with a martial arts analogy in parenthesis:

Mathematical foundation: Study a basic academic finance curriculum to get a solid foundation. Something corresponding to first year of business school or CFA Level 1. See here for a list: http://earlyretirementextreme.com/startup-curriculum-for-finance-economics-investing.html This corresponds to about 8000 pages of reading which can be completed in about a year or so. Most never finish it.(This corresponds to doing pushups, situps, and learning the punches and kicks of the system. Like getting a black belt, learning the repertoire of techniques is the foundation and the beginning of the journey as a martial artist. Of course, ultimately there are no techniques---practicisn techniques is just a method of learning. Until you can provide the proverbial explaination of what a P/E multiplier is to your proverbial mother in 3 different ways, do not pass go, do not collect $200.)
Psychological understanding: Pick up random old guru books from libraries and thrift stores and read them with the benefit of 20/20 hindsight. What did the authors get right? What did they get wrong? What did they miss? Reading history is also useful, but I recommend going directly for the sources (old newspapers) to see what it looked like as it happened. I don't think history books are all that useful because they don't give the same sense of time as lived experience.(This corresponds to studying other fighters. What made them great? Why did some ultimately fail? How has fighting evolved. For fun, compare early MMA styles as they evolved to the present? What would defeat the present style?)
Building intuition: Read widely. Or listen to podcast conversations if you have to. Also practice widely. Whether that's from hobbies or actual jobs in different fields, carrying knowledge over from one field to another often creates new perspectives on things. This is the same ERE-style "renaissance"-approach I use in the rest of my life.(This corresponds to getting your feet wet and also to breaking out of the system of your formal training by getting new ideas. There's a reason it's called "martial arts" and not "martial science". The point of learning the foundations of your field is to break out of them properly.)

I'll see you on the other side.
source: danielkirsch on pixabay
Investing Is A Process Of Taking Care Of Your Little Space Of The World
Aside from investing influences, what real life events have molded your overall views as an investor?
Was it something to do with the way you grew up?
Taking on too much risk (or not enough) early on in your journey/career as an investor?
Or just any other life event or personality trait/characteristic that you feel has uniquely shaped the way you currently view yourself as an investor.
Education.
Travel.
Work Experience.
Volunteering.
A major life event.
What has helped shape the type of investor you’ve become today?

Good question!
I think one's investing-style is ideally a reflection of who one is as a person. (Caution: Extraverts in particular may confuse who they really are with who they've become in order to fit in with friends and family or career)
If these two are teleologically aligned, tension decreases and one will sleep well at night (SWAN).
And SWAN is very important for personal well-being. (Drinking less coffee also helps!)
I covered that a bit above when I talked about the "renaissance"-ideal.
I believe that homo sapines sapiens is the universally adaptive/generalist species.
Humanity has so much^H^H^H^H .. some potential.
However, industrialization followed by the echo-chambers of the information age has turned us into specialized idiot savants.
Cogs in the career machine.

Capable of formally optimizing our assigned part of a job-given problem; ignorant of the wider context; barely able to fix a sink or cook a meal without an app and a subscription box.
This also goes for investing.
Investors tend to form echo chambers that act like different species in the market place.
The market place in turn forms an ecology of investor types who squabble online in order to establish primacy.
I think my ERE goal of becoming more of a generalist when it comes to consumption (see my second talk on The Stoa) has also made me a generalist on the production side when it comes to investing.

I see investing much like taking care of a garden space.
Think permaculture.
Adding some securities to my garden portfolio and subtracting others depending on what thrives and what dies as the investment climate changes.
Not so much about arguing whether growing beans is better than growing beets.
Not so much about growing the market garden bigger.
Investing is a process of taking care of your little space of the world, your capital.
You're responsible.
You're part of the system.
What's useful about this perspective is how it leaves room for understanding context and how the context is changing.
Insofar one is blind to context---like how the fish don't see the water they swim in---such advice is easily confused for a load of in-actionable blahblah.
This attitude tends to frustrate most people, especially those looking for a quick and easy solution.
source: the stoa on youtube

Finance Is Part Of Adulting: Punt At Your Peril
Imagine you could have a three hour conversation with your younger self.
What would you tell the younger version of yourself in order to become a better investor?
Something that you know now that you wish you knew back then.
Start earlier!
Finance is part of the adulting curriculum of the 21st century.

You can't escape it.
Punt at your peril.
Whether you want to be or not, you are always an investor of something. You savings, your health, your relationships.
Finance is one of the governing intersubjective human constructs that determine what we do and where we go. (Compare to legislation+its enforcement which is another technology for governing human behavior at a mass scale).
Investing requires developing a future-oriented perspective.
You can invest in your career, your family, your environment, the world.. at any level from the egocentric to the world-centric.
Being an investor means you take an active role in where the world is going. Investing ties current decisions to future consequences.
In a democracy, you get one vote per adult heart. In the markets, you vote your spending and your savings---your savings being what you have produced minus what you have consumed as far as the market is concerned.
Whether you spend or invest, you play a real albeit minor role in where this world is going.
For good and bad, having savings means you have a responsibility to place it well.
You're voting with your money.

This makes you responsible.
This is serious stuff!
source: NatureFriend on pixabay
Woe To Anyone Who Simplistically Copies Someone Else's Portfolio
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 

Let’s pop the hood of your portfolio.
What kind of goodies do we have inside to showcase?
Spill the beans.
How much do you got of this?
Why did you decide to add a bit of that?
If you’d like to go over every line-item you can or if would be easier to break your portfolio into categories or quadrants that’s another route worth considering.
When do you anticipate this portfolio performing at its best?

Ugh!
No offense, but let's not.
I once made the mistake of revealing my portfolio in a random blog comment.
Many years later, someone dug it up and sent me a complete analysis of how it had performed over the years.
I wrote them back to inform them that I had sold off many of the positions several years ago.
Their well-intended analysis had made incorrect (buy&hold) presumptions about my strategy.
I don't believe it's possible to separate an investor from their investments.
They come as a pair. Knowing WHAT someone is holding is not the complete picture.
You also need to know WHY, HOW, and WHEN they're holding it and that is very personal.
Woe to anyone who simplistically copies someone else's portfolio without understanding why it is the way it is.

Everyone needs to match their holdings to their own being.
My personal portfolio depends my personal sphere of competence and interests, my net-worth and tax-situation, and my desire to sleep well at night.
It's a complete package.
These all change over the years so managing a portfolio is matter of continual adaption to personal as well as global circumstances.

However, if you really want to know, my approach can be categorized as "top-down discretionary macro".
My tools are mainly equity and bonds, some 30-40 positions total, because that's what I know.
I do NOT analyze stocks (I have no edge there).
I consider the prevailing intersubjective narratives and their likelihood of changing within my objective (taxes, networth, ...) and interobjective (interest rates, valuations,...) constraints.
I position my portfolio accordingly.
The way this works in practice is that I have a hypothesis about "something I know but they don't but think they do" about the macroeconomic environment.
For example, "interest rates are not going up" (in contrast to the commonly held belief that they are).
WARNING: This is just an example, not a prediction.
This in turn would suggest that certain companies are incorrectly valued.
For example, bad balance sheets are undervalued.
I then set up a stock screen for those companies and simply pick whatever analysts consider best in breed.
You can call that "irrational expectations theory" if you want. I think that covers it pretty well.
source: DariuszSankowski on pixabay
I Have Known No Wise People Who Didn't Read All The Time
What kind of investing skills (trading, asset allocation, investor psychology, etc) are necessary to become good at the style of investing you’re pursuing?Is there a certain type of knowledge, experience and/or personality trait that gives one an advantage running this type of portfolio?

"In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time -- none, zero. You'd be amazed at how much Warren reads--and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out."---Charlie Munger

Uhm, yes ... me too.
I couldn't follow my strategy without reading a wide range of sources.

Don't ask which ones.
That's missing the point entirely.
The key is always looking for new ways of seeing the world---also about how others see the world---and integrating them to add new perspectives.
Building a lattice work.
Also, see Stoa 2.

Ken Wilber termed this vision logic, which is basically a broadly informed intuition from multiple perspectives as opposed to a singular perspective based on gut-feeling or rationality.
In modern parlance, the market is a hyperobject.
This is but a fancy way of saying that the same thing looks different depending on which angle is it viewed from.
For example, a cylinder looks a circle from the top or a square from the side.
Upon encountering a difference in perspective, the natural impulse for someone who has been trained in formalized expertise is to debate and disagree with other perspectives according to their training.
People talk their book.

Instead of endlessly arguing why the cylinder is a square and not a circle or vice versa, I accept that some people see a square while others see a cylinder.
I position my portfolio according to who is most likely to change their mind.
This requires holding two or more opposing perspectives in the mind at the same time, understanding other people's blindspots, knowing how to position one's portfolio accordingly.
Then having the patience to wait for the inevitable shift in price when investors finally shift their perspective.
source: the stoa on youtube

I Retired Early At 33: My Portfolio Has To Last Me At Least 60 Years
What would be a toned down version of your portfolio?
Something that’s a bit watered down.
Conversely, what would be a more aggressive version of your portfolio, if someone were willing to take on more risk for a potentially greater reward?

I retired early at 33 so my portfolio has to last me at least 60 years---okay, it's down to 45 by now :-P.
As such I can't accept the risk = reward paradigm.
In my situation, risk is the potential for irrecoverable losses and the reward is maintaining financial independence from an recurring cash stream.
Neither of these are related to market volatility.
The question, therefore, is how to keep this cash stream going for more than half a century.
What makes this difficult is how much the next "sure thing" changes and how quickly it can be abandoned again.

Here's a brief list of popular "sure things" that "can't fail" and "always go up" because < insert rationalization >:
1950s "onics" stocks (any stock ending in onics)1960s Go-Go stocks followed by Nifty Fifty blue chip stocks1970s Gold and collectibles1980s Money market and commodities1990s Dotcom stocks2000s Real estate2010s Index funds2020s Crypto? NFTs? Homesteads? Or maybe not?
Many investors justify their paradigm with selective backtesting.
It's almost always possible to p-hack a new strategy and/or data-dredge up a country or a handful of decades where any strategy worked really well.
Some investors endlessly check themselves for this trap.
Charismatic investors not so much.
Remember the "2/3 of average"-problem! (You did click and read all the links above, right?) Never take the "2/3 of average"-line of reasoning to its logical conclusion because the market doesn't.
Yet, don't extrapolate your paradigm into the far future either.

Investors are often unaware of their own paradigm.
It is very difficult to change what one does not see.
In particular, many investors don't even see their paradigm as a paradigm.
It's like water to fish.
Thanks paradigm!
Popular paradigms dominate the market for 5-15 years, yet remain defended by core believers even 30-50 years later.
Once popularity declines, the paradigm faces headwinds as more and more exit the trade, yet zealots always remain.
All this to say there's no such thing as aggressive or toned down.
These attitudes are but other paradigms and strategies.
All part of the same market.
source: ha11ok on pixabay
As An Investor Your Greatest Strength Also Determines Your Greatest Weakness
What do you feel is your greatest strength as an investor?
What is something that sets you apart from others?
Conversely, what is your greatest weakness?
Are you currently trying to address this weakness, prevent it from easily manifesting or simply doubling down on what it is that you’re great at?

The biggest strength also determines the biggest weakness.
They exist in pairs.
Addressing a weakness would also curb the corresponding strength.

The investor would change into a different investor.
Market participants play different roles according to their individual strengths and weaknesses.
Much like an eco-system, the greater the variety in strengths, the more resilient the system is.
The financial system should fundamentally reflect the economic system.
When it doesn't malinvestments occur.
The biggest danger to the system is when investors collectively decide to focus on one kind of strength, especially when it's not their own, and form a herd.

A shared paradigm is a kind of collective madness.
This kind of madness recurs at regular intervals.
Social media likely made it worse.
The biggest danger to the individual investor is focusing on a strength that is not naturally their own.
This is especially hazardous to beginning investors.
You're not going to be the next Warren Buffett.

My greatest strength is the ability to see and hold multiple different perspectives at the same time.
This is not really something I'm born into but rather an outcome of spending 2015-2020 moderating political discussions on my forum.
It does gets tiresome.
Holding perspectives (or space) requires a suspension of a kind of disbelief in order to root out what a given investor-type grouping either doesn't see (known-unknowns) or refuses to accept (unknown-knowns).
This is done by following a wide range of sources---put out sensors everywhere---and essentially taking a 4th person view on the market: I have little interest in arguing "best investments" but great interest in watching how different groups argue with and amongst each other.

My biggest weakness follows from that. I'd be unlikely to go all in on a single perspective.
I became aware of crypto in 2012ish.
However, I was also aware of eGold and Liberty dollars in 2005.
One went well, the others not so much.
source: Nile on pixabay
There's No Such Thing As A Free Lunch
What’s something that you believe as an investor that is not widely agreed upon by the investing community at large?
On the other hand, what is a commonly held investing belief that most in the industry would  agree with that rubs you a bit differently?

I don't presume that market efficiency is instantaneously settled.
I think it's an on-going negotiated process that takes months or even years to unfold.
While information is widely and instantly available, its translation into knowledge takes effort.
It's not frictionless!
Furthermore, while such knowledge is achievable second-hand through education and from other investors, the wisdom to act on it is mostly achieved first-hand and personally.
That there's no such thing as a free lunch.

That this affects every instance of life.
To be clear, the simplified math assumes that transmission is instant at the ground level.
I think there are at least two additional levels of translation beyond that.
Perhaps more generally I don't believe there isn't a group of "they" as in "they will think of something" whether it comes to ensuring that the market always has the best price, or inventing new technology to compensate for bad resource management, or fixing climate change, malnutrition, lack of exercise, or unhealthy behavioral choices.
If modernist rationalism was the answer, "more education and books and apps" would have solved all these problems.
It clearly hasn't.
If postmodernism was the answer, "forming communities and talking everything to death" would have solved all problems too.

That approach isn't working overly well either.
What can I say?
Rather we're all in this world together even if half of us have yet to realize or accept it.
Everybody is responsible for doing something on their own as well as doing something with others.
This includes investing.
I like to think of investing as "guiding the future".
Voting by market.
You put your monies to direct the future evolution in a certain way.
Not just for humans, but other species and the planet as such.
Insofar you have enough savings, consider giving up a few basis points for the future of the planet.
There's only one as far as we know.

You Go To War With The Army You Have
What’s a subject area in investing that you’re eager to learn more about?
And why?
If you knew more about that particular topic would it influence the way you’d construct your portfolio?

"How to fix stupid".
With 8 billion humans on the planet comprising 1/3 of the mammal biomass, managing our combined follies and foibles is literally the most important "elephant in a china shop"-bottleneck of the world during the 21st century.

Investing will continue to play a big role going forward because "debating" and "arms-length transactions with money" still defines our operating paradigm.
Our tool-set so to speak.
You go to war with the army you have, not the army you might want or wish you had.

This means navigating the 21st century using 19th and 20th century investment tools.
Trying to solve problems with money.
Yet generals usually to go to war using the toolset of their last war---diddle, diddle, straight up the middle---and everybody suffers accordingly.
I'm interested in how investors will be changing their minds living through the 21st century.
How investors will respond to the consequences of their commitments within the limits of their chosen constraints.
If we can't rely on expertise or community, where do we go then?
source:paul wheaton on youtube

Anti-Jacob Lund Fisker Portfolio: FIRE & Forget
What would be the ultimate anti-Jacob Lund Fisker portfolio?
Something you’d never own unless you were duct-taped to a chair as a hostage?
What about this portfolio is repulsive to you?
Conversely, if you were forced to Steel Man it, what would potentially be appealing about the portfolio to others?
What is so alluring about it?
Whenever space probes are portrayed in the media, reporters marvel about "hitting the bullseye from millions of kilometers away".
This is not really how it works though.
Interplanetary launches are not fixed on super-precise course at the outset only to cruise for years or decades to hit their intended destination within a few meters.
What happens is that ongoing telemetry and regularly scheduled course corrections that guide the vehicle along the way.

The ultimate anti-Jacob portfolio would be committing an irrecoverable amount of savings to an unguided "fire & forget"-portfolio that is justified by binary absolutes like "always", "never", "nobody", and so on.
Things change slowly.
Course corrections are necessary.

Steel-manning it, I think many true believers eventually do change their mind.
A firm belief protects the ego from doubts and whip-sawing in the short run.
It's quicker and easier than spending thousands of hours on a solid argument.
Paying attention to the popular paradigm once or twice each decade (perhaps via a CFP) may be good enough.

"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." --- Mark Twain

#### How Do I Invest My Money? Diversified DIY Quantitative Portfolio
When it comes to the question of how do I invest my own money, I've shifted in the past year from being a 100% equity factor based investor to building a diversified DIY Portfolio keying in on a myriad of quantitative investing strategies spread out over numerous asset classes.
Why change from a stocks for the long run strategy?
Aren't stocks the best game in town?

If you can handle the expected volatility and drawdowns of markets, with a long enough time horizon, doesn't it make sense to be 100% in equities and then dial things down closer to retirement?
I thought so.
However, I no longer believe this is the best way to invest at any given stage of the life cycle of an investor.
Why?
Because diversification is your only free lunch in investing.

How Do I Invest My Money As A DIY Investor?
About the Author & Disclosure
Picture Perfect Portfolios is the quantitative research arm of Samuel Jeffery, co-founder of the Samuel & Audrey Media Network. With over 15 years of global business experience and two World Travel Awards (Europe's Leading Marketing Campaign 2017 & 2018), Samuel brings a unique global macro perspective to asset allocation.
Note: This content is strictly for educational purposes and reflects personal opinions, not professional financial advice. All strategies discussed involve risk; please consult a qualified advisor before investing.

Nomadic Samuel's Diversified DIY Quantitative Portfolio
Nomadic Samuel eating a pizza in Argentina. Hey, doesn't that kind of look a bit like a portfolio? A bit more delicious for sure ;)
Diversification Is Your Only Free Lunch

When you combine uncorrelated (or lowly correlated and negatively correlated) asset classes and strategies with a modest amount of leverage you can outperform equity only mandates, manage risk and reduce sequence of returns risk.
Does this all sound too good to be true?
It did to me for a while.
But over the past year, I've been obsessed with studying portfolios such as the Ray Dalio All Weather Portfolio, the Harry Browne Permanent Portfolio and the Risk Parity Portfolio along with modern interpretations such as the Adaptive Asset Allocation, the Dragon Portfolio and the Cockroach Portfolio to see how these portfolios perform under all economic regimes and whether or not they can handle modest leverage to boost returns.
I even created a battle of the leveraged portfolios series of blog posts, using 10 different model portfolios, dating back to returns from 1978 to test how, when and why portfolios fall apart under certain economic conditions.
Source: Pixabay
Rejection of a 100% Equity Portfolio

How about 100% stock only portfolios?
They do fantastic long-term but a portfolio featuring a 100% US Total Stock Market faced a sequence of returns risk of being underwater for an entire decade!
10 years of absolute pain!

And what about the Ray Dalio All Weather Portfolio, Harry Browne Permanent Portfolio and Risk Parity Portfolio?
The negative year roll period was only 1 year for each and every one of those portfolios.
In other words, with over 45 years worth of annual returns, these portfolios never experienced a negative 3, 5, 7 or 10 year roll period.
This was true whether we applied modest leverage at 2X or aggressive leverage at 3X to 4X.
Furthermore, these diversified portfolios featuring stocks, bonds and alternatives never had a negative year that even came close to being as bad as a 100% equity only portfolio.

What's most exciting about all of this information is that these portfolios are classic long-only asset classes of stocks, bonds, gold and cash.
They're not employing more sophisticated modern investing strategies of diversification that include long/short managed futures, trend-following, global systematic macro, long-short equity, market neutral, merger arbitrage, long volatility tail risk, cryptocurrencies and/or credit hedges that can make a portfolio even more efficient and overall diversified.
Now there is the potential to build a DIY Portfolio that provides returns equal to (or better) than equities, while managing risk (volatility) and negative annual return roll periods.
Source: Pixabay
Expanded Canvas Portfolios

An artist needs a bigger canvas to create a masterpiece.
A television that expands from HD to 4K provides a massive upgrade for viewers watching movies at home.
In order for my DIY portfolio to reach its full returns potential I need a canvas bigger than 100%.

The idea isn't to dial up the risk profile of my portfolio by leveraging stocks and bonds to the moon.
It is to create more space in my DIY portfolio for additional strategies, asset classes and alternative investments that will provide unique return streams.
Efficient core.
Capital efficient.
Portable Beta.
Return Stacking.
Expanded Canvas Portfolios.

Out of all the possible ways to describe what I'm attempting as a DIY investor I prefer the framework of "return stacking" coined by legendary investor Rodrigo Gordillo and "expanded canvas" minted by yours truly as preferred frameworks for describing the process.
Return stacking is taking the template of a successful historical portfolio, such as the 60/40, while using portable beta strategies such as leverage to create space to stack on additional uncorrelated return streams.
For instance, utilizing a fund such as $NTSX 90/60 requires only 67% portfolio space to achieve a 60/40 portfolio mandate while creating 33% room for additional strategies.
The idea is not to add more stocks/bonds but to consider alternatives.

Expanded canvas portfolios are an unconstrained approach to utilizing leverage.
There are no rules or template to follow.
Screw benchmarks, convention or orthodoxy.
This is a chance to create your own masterpiece of a portfolio from a bottoms-up approach with the cookie cutter template thrown in the trash bin.

In other words, how you decide to mix and match stocks, bonds and alternatives is entirely up to you.
You get to build a DIY Portfolio that matches your own uniquely quirky personality profile, life experiences and overall investment goals.
If this isn't exciting, I don't know what is!
I just asked my wife Audrey if she found it as exciting as I do.
I received an epic eye-roll.
Source: Pixabay
How Do I Invest My Money?

The way I currently invest my money, as a DIY investor, is a reflection of my best attempt to understand myself (self-awareness), my career and my investing goals.
I've lived an unconstrained and unconventional lifestyle which has involved working abroad, creating a business from scratch overseas and meeting my wife while living in a foreign country.
It should come as no surprise that I'm an unconstrained investor.

It makes me cringe to think I need to use a template as the backbone of my portfolio, such as the 60/40.
I want more diversification and strategies in my portfolio aside from a token alternative sleeve.
The small resource based town I grew up in (Gold River), with a pulp and paper mill that went bust in the 1990s, didn't diversify its local economy.
It went from a boom (one of the highest per capita income small-towns in Canada) to bust almost overnight.
My day job in travel media, was threatened by the pandemic lockdowns which culled our industry to a fraction of what it was just a few years ago.
Who survived?
Those who diversified and had multiple sources of income streams.
Who didn't?

The all eggs in one basket crowd which included those who exclusively only ran tours, did paid campaigns or affiliate/advertising models only.
Thus, given that I've chosen a volatile career, I'm seeking a portfolio that manages risk while providing excellent returns.
Source: Pixabay
My Investing Goals: A Targeted Approach

I have very specific investing goals.
They are as follows:

10 DIY Investing Goals

Build a DIY portfolio that can compete with (or outperform) equity only mandates
To build a maximum Sharpe Ratio and Sortino Ratio portfolio where my returns exceed the level of risk (standard deviation) that is prepared for every economic regime
To be focused more on the long-term "portfolio strategy" as opposed to the "portfolio results" with the patience to stick with a sensible plan even when certain sleeves are inevitably underperforming in the short-term
Utilize a modest amount of leverage to create space in my portfolio to add as many unique uncorrelated alternative return streams as possible
Create a portfolio that is globally diversified and avoids home country bias at all costs by investing in International Developed and Emerging Markets
 To pursue "short" strategies to capture factor, style and risk premia as much as "long" only strategies
Use a systematic quantitative approach to assembling a portfolio that involves both "passive" and "active" management
To not be so obsessed with "fees" that it excludes me from pursuing specific strategies that cost more to implement
To review my portfolio annually to potentially upgrade it (not tinker with for just the sake of it) if I have expanded my knowledge and/or certain products have been created that would be an upgrade over what I currently own
To never stop learning about investing and to remain a curious investor my entire life throughout this journey

If my portfolio looks the same in 3 years time I would consider that a total failure.
Not because I haven't stuck with a sensible plan but because I haven't learned anything new to improve its overall diversification and/or that I haven't paid close enough attention to new funds that better represent the goals and strategies I'm currently pursuing.

I also firmly want to maintain a "sponge investor" approach where I'm not a part of a team or tribe that succumbs to confirmation bias.

My Limitations For Pursuing the Picture Perfect Portfolio
The biggest limitation I face as a DIY investor at the moment is a lack of funds that represent the strategies I'm most interested in pursuing.
As an example, I absolutely love the 90/60 funds created by WisdomTree including $NTSX, $NTSI and $NTSE but I would in a heartbeat switch to a 90/60 fund that instead deployed a minimum volatility, momentum and/or value strategy as the backbone of the equity sleeve.
It's not current available and so I've got considerably less equity factor exposure than I would like to have.
Also, as a Canadian investor, I'm not able to purchase US Mutual funds (I can buy US ETFs) so I'm left peering through the storefront with a drool bucket firmly in hand at funds such as StandPoint Multi-Asset Fund $BLNDX which I'd love to add to my portfolio.
There are also strategies that are being floated around and discussed such as the "Return Stacked 60/40 Absolute Return Index" that I'm interested in integrating into my portfolio that I hope become available in the near future.

I could go on and on with a wishlist of investing in the Cockroach Portfolio and the Dragon Portfolio along with portfolios I've created such as the Picture Perfect Portfolio and Nomadic Samuel Portfolio.
It's exciting to think what the future holds in terms of potential funds and strategies.
Source: Pixabay
Diversified DIY Quantitative Portfolio
These asset allocation ideas and model portfolios presented herein are purely for entertainment purposes only. This is NOT investment advice. These models are hypothetical and are intended to provide general information about potential ways to organize a portfolio based on theoretical scenarios and assumptions. They do not take into account the investment objectives, financial situation/goals, risk tolerance and/or specific needs of any particular individual. 

I apologize for what might be considered by some to be a long-winded rant leading up to what is actually under the hood of my portfolio.
However, I felt it necessary to clearly outline my process, goals and limitations clearly before jumping into the nitty gritty.
Without further ado let's pop this baby open!

Nomadic Samuel Portfolio
   

UPAR
15.00%
ULTRA RISK PARITY ETF

HRAA.TO
15.00%
HORIZONS RESOLVE ADAPTIVE ASSET FUND

ONEC.TO
10.00%
ACCELERATE ONECHOICE ALTERNATIVE PORTFOLIO

PFAA.TO
10.00%
PICTON MAHONEY FORTIFIED ABSOLUTE ALPHA ALTERNATIVE

NTSE
7.50%
WISDOMTREE EMERGING EFFICIENT CORE FUND

GDE
7.50%
WISDOMTREE EFFICIENT GOLD PLUS EQUITY

NTSI
5.00%
WISDOMTREE INTERNATIONAL EFFICIENT CORE FUND

FIG
5.00%
SIMPLIFY MACRO STRATEGY ETF

KMLM
5.00%
KFA MOUNT LUCAS INDEX STRATEGY

DBMF
5.00%
IMGP DBI MANAGED FUTURES STRATEGY ETF

ATSX.TO
5.00%
ACCELERATE ENHANCED CANADIAN BENCHMARK ETF

PFAE.TO
5.00%
PICTON MAHONEY FORTIFIED ACTIVE EXTENSIONS

HDGE.TO
5.00%
ACCELERATE ABSOLUTE RETURN HEDGE FUND

What exactly is the Nomadic Samuel Portfolio as of 2022?
13 ETFS.
7 US listed.
6 Canadian listed.
50% exposure to US funds.
50% exposure to Canadian funds.
The ticker represents the specific ETF followed by the % the fund takes up in the overall portfolio.
Next we've got the official fund name and a short description of the overall fund strategy.
Lastly, the last column represents the rough gross exposure each fund has (many are long/short) but not the overall net exposure.

As a quick example, an equity fund that is long (140) and short (40) would have a gross (180) exposure but only net (100) exposure.
Finally, every single fund is either multi-asset class or multi-strategy.
There is no long only equity or long only bond funds.
For example, ONEC.TO is a fund of funds whereas PFAE.TO is equity only but is multi-strategy in the sense that is goes both long/short.
Source: Pixabay
ETF Funds Under The Hood

Let's examine each of the funds to understand what each fund offers from a strategic point of view.
The two biggest positions in my portfolio are risk-parity portfolio funds that offer multi-asset class and multi-strategy exposure to my portfolio in an expanded canvas format.
Source: Evoke (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
UPAR = 15%
$UPAR is a long-only risk parity 168% canvas portfolio that is bond-centric in nature with TIPS and Long-Term Treasury making up 98% of the fund (49% each) with global equities (US + Int-Dev + EM) taking up a 35% allocation and Gold/Commodities forming the alternative sleeve at 35%.
The fund owns each sleeve based on the historical overall risk-level (standard deviation of each sleeve).
Thus, the bonds take up larger portions of the portfolio given they have lower standard deviation whereas stocks and gold/commodities are more volatile and thus receive a smaller allocation.

I expect the fund to offer better than equity returns with a smoother ride.
I wrote blog post where I reviewed UPAR Ultra Risk Parity ETF in detail.
$UPAR could easily be a total portfolio solution.
A one and done ETF approach.
But I'm a fan of what has been mentioned by influential quants on FinTwit of diversifying my diversifiers.
So a long-only one and done asset allocation approach is not for me.
Source: HorizonsEtfs.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
HRAA.TO = 15%
$HRAA.TO is a risk parity adaptive asset allocation fund from some of my favourite quant folks in the industry over at ReSolve Asset Management.
Unlike $UPAR, $HRAA.TO takes advantage of a global systematic macro approach deploying various long-short managed futures strategies in a bespoke ensemble approach including (but not limited to) trend following.
It truly covers all of the bases including equity indexes, fixed income, tradeable real estate, currencies and commodities.
Getting back to the bespoke ensemble of managed futures strategies aside from just trend-following, Horizon Resolve Adaptive Asset Allocation ETF fund offers investors exposure to carry, value, momentum, seasonality, mean reversion and tail-risk.
This fund offers more uncorrelated asset classes and strategies than any other fund I've got under the hood.

If I could only invest in one fund for the rest of my life it might be something like this one.
With the funds ability to go long/short in an adaptive manner it offers an advantage strategically from a risk management perspective compared to long-only mandates.
Moreover, US investors can gain access to this strategy from ReSolve by utilizing $RDMIX.
It's a Morningstar Five Star Fund and has received Lipper Awards as well.
I anticipate equity-like returns with volatility management that puts stock only portfolios to shame.
Source: Accelerateshares.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
ONEC.TO = 10%
ONEC.TO is my favourite fund of funds ETF in my portfolio.
It just offers so much and allows me to break the shackles of some of the market-beta equity and bond exposure I have in other funds.

What is included?

iShares Global Real Estate Index ETF
10.0%

RPAR Risk Parity ETF
9.9%

SPDR® Gold Shares
10.5%

Accelerate Enhanced Canadian Benchmark Fund
10.2%

SPDR® Blackstone / GSO Senior Loan ETF
10.4%

Accelerate Arbitrage Fund
10.7%

Accelerate Absolute Return Hedge Fund
10.0%

Accelerate Carbon-Negative Bitcoin ETF
7.0%

BMO Global Infrastructure Index ETF
4.9%

FlexShares STOXX® Global Broad Infra Index Fund
5.0%

iShares MBS ETF
5.3%

BMO Canadian MBS Index ETF
5.3%

I'm gaining exposure to long-only equity diversifiers such as Global REIT and Global Infrastructure stocks while also enjoying long-short active extensions and factor-based hedging funds.
Gold and Bitcoin are part of the package as well allowing me to dip my toes into less than 1% cryptocurrency.
Mortgaged Backed Securities and Senior Loans provide further diversification to the portfolio as these are strategies not present in any other fund.
ONEC.TO is just one of three funds that I have in my portfolio created by Julian Klymochko of Accelerate.
If you're interested in learning more about the fund I covered it in a review of Accelerate OneChoice Alternative ETF.
I'm expecting equity like returns with this fund with lower volatility.
Source: PictonMahoney.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
PFAA.TO = 10%
Picton Mahoney Fortified Alpha Alternative ETF is one of the most interesting funds I have in my portfolio.
It takes three of the quantitative firms in house specialties (merger arbitrage, market neutral and special situation credit) as the primary strategy and layers secondary strategies of carry, value, momentum and tail-risk protection to round out the fund.
It utilizes aggressive leverage in a long/short capacity close to 300% gross exposure.
What I'm most excited about is how the sum of the parts have an incredible track record as individual funds where returns have easily outpaced risk.
These guys eat Sharpe Ratios for breakfast.

I've reviewed Picton Mahoney Fortified Absolute Alpha fund in detail for those interested in learning more.
I'm anticipating equity-like returns with this fund with only 1/3 to 1/2 the volatility.
Source: WisdomTree.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
NTSE = 7.5% 
NTSE is the first of three WisdomTree funds that feature efficient core exposure stretching the canvas of the portfolio beyond 100%.
I utilize these funds to create space in my portfolio for other alternative strategies.
NTSE in particular is a 90/60 Emerging Markets equities and Treasury combination that provides 1.5X 60/40 portfolio exposure.

I'm firmly a believer in global diversification when it comes to equity allocation, so I'm thrilled that this fund boosts my Emerging markets exposure more than others.
I'm expecting the fund to outperform equity only mandates while offering similar volatility levels but less sequence of return risk.  .
Source: WisdomTree.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
GDE = 7.5%
GDE is where I deviate from the NTS(?) series of funds from WisdomTree.
Instead of going for NTSX (90/60 US/Treasury exposure) I've opted for the 90/90 US/Gold combination to boost my allocation to gold as opposed to bonds.
I've got a lot of bond exposure in my portfolio - long and short.
Thus, I'm thrilled to add gold without really having to sacrifice equities in the process.

Wondering how a US stock + Gold tandem performs over a 50 year period?
You can check out my GDE ETF review here for that.
But the TL;DR version is that this duo pairs extremely well given they're uncorrelated asset classes.
Gold protected against US equity lost decades of the 1970s and 2000s whereas equities picked up the tab in the 80s, 90s and 2010s.
In fact, this combination delivered double digit CAGR returns for each decade.
I firmly expect this combination to firmly crush equity only exposure to the US stock market.
Source: WisdomTree.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
NTSI = 5%
I'll make this short and sweet.
NTSI is the equivalent of NTSE but with International Developed Markets as opposed to Emerging Markets.
Boosting the International-Developed exposure to equities in my portfolio is clearly a priority.
Source: Simplify.us
FIG = 5%
I'm really a big fan of what Simplify has been doing as an ETF provider over the past couple of years but for a while I couldn't quite find a specific fit where a product they've released integrated well into my portfolio.
Well, that entirely changed with FIG ETF.
Simplify Macro Strategy ETF is a masterpiece fund of funds total portfolio solution with a plethora of goodies under the hood.

CTA
SIMPLIFY MANAGED FUTURES
72280
26.24%

CDX
SIMPLIFY HIGH YIELD PL CREDIT HEDGE
86801
24.84%

SVOL
SIMPLIFY VOLATILITY PREMIUM
71812
20.34%

TYA
SIMPLIFY RISK PARITY TREASURY
27560
6.37%

IAU
ISHARES GOLD TRUST
11549
4.64%

-
FIDELITY INV MMTRSY 1 680
201161
2.47%

SPY US 12/16/22 C320
SPY Dec 2022 320 Call
110
11.16%

SPX US 12/16/22 C3200
S&P 500 Index Dec 2022 3200 Call
2
2.04%

SPY US 12/16/22 P350
SPY Dec 2022 350 Put
7
0.08%

It offers a diversified set of risk drivers including exposure to equity, credit, duration and volatility.
I almost forgot to mention gold.
It's a fund that deserves its own review on this site at some point.

The fund utilizes leverage in certain cases and put/call strategies to maximum returns and minimize downside risk.
Out of all the funds I own it has more exposure to long-volatility than any other.
In fact, I wouldn't be surprised if I boost the allocation to FIG closer to 10% at some point.
I'm anticipating this fund will provide equity like returns while managing risk like a defensive all-star.
Source: Kraneshares.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
KMLM = 5%
KMLM is a managed futures long/short fund I'm truly excited about.
With an incredible track-record dating back decades I'm thrilled about having it in my portfolio as an uncorrelated strategy to long-only stocks/bonds/commodities funds.
It's had a monster year in 2022 so far providing the type of crisis alpha investors seek when long only stocks/bonds are being skewered at the exact same time.
It's the ultimate hedge for long-only equity, bond and commodity risk.
What's interesting about this fund in particular is that it offers diversified exposure to commodities, currencies and bonds but forgoes equity index coverage.

There is a fantastic long-term track-record as well.
When it comes to managed futures strategies you can anticipate equity like returns long-term with 1/2 the risk.
Source: Imgpfunds.com/ (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
DBMF = 5%
DBMF is a managed futures fund with a bit of a twist.
It seeks hedge fund like performance without hedge fund like fees by tracking the performance of a diversified pool of managed futures managers.
It's a strategy uncorrelated with long equities/bonds and has delivered goliath positive returns this year while most traditional portfolios are tanking.
Given its all-weather capabilities and diversified long-short exposure to equity, bond, currency and commodity indexes it has significantly outperformed its benchmark SG CTA Index since inception.
I love this ETF.
I'm anticipating equity like performance meets stellar volatility management.
Source: Accelerateshares.com/ (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
ATSX.TO = 5%
ATSX.TO is the first of three long-short equity funds that I've got in my portfolio.
It takes 100% of the TSX index as a future contract and then overlays a 50 long / 50 short combination of factor based strategies minus junk.
The fund has no management fees.
Only a performance fee when it outperforms the TSX as its benchmark.
I love this approach where the fund manager takes the same hit if/when the fund relatively underperforms and shares in the success when it does well.
I fully anticipate this fund to crush its benchmark and deliver better than equity like returns.
This is an outperformance strategy clear and simple.
Source: PictonMahoney.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
PFAE.TO = 5%
Picton Mahoney Fortified Active Extensions fund is a 140-40 long/short equity fund with a track record that is beyond impressive.
The ETF version of this fund takes after its hedged mutual fund sibling.
With a track record dating back over a decade it has absolutely crushed its benchmark TSX by over 500 basis points while delivering a much higher Sharpe Ratio.
It uses a multi-factor quantitative approach to selecting attractive long stocks while shoring those with unattractive fundamentals.
I expect this fund to continue to significantly outperform equity only mandates as it has in the past.
Source: Accelerateshares.com (The investment performance results presented here are based on historical backtesting and are hypothetical. Past performance, whether actual or indicated by historical tests of strategies, is not indicative of future results. The results obtained through backtesting are only theoretical and are provided for informational purposes to illustrate investment strategies under certain conditions and scenarios.)
HDGE.TO = 5%
Last but not least is Accelerate Absolute Return Hedge Fund.
Unlike its sibling ATSX.TO this fund does not follow a benchmark and instead offers multi-factor exposure to long 110 attractive stocks minus 40 junk.
Given my desire for significant equity factor exposure in my portfolio this fund provides it in spades.
Check out the delicious Morningstar Style Box below.
Source: Morningstar.ca
I'm anticipating this fund will long-term outperform index based equity funds while offering hedging protection those long only mandates lack.

### Posts

#### 1 Day in El Chaltén, Argentina: Visitor's Perfect Day Trip Itinerary (What To Do With Limited Time)
El Chaltén in one day is basically a daylight heist.

You’ve got limited hours, a bus schedule that doesn’t care about your dreams, and a town that keeps waving world-class hiking trails at you like, “Go on… you can totally fit Fitz Roy AND Cerro Torre AND a waffle in before dinner.”

Clear skies are the jackpot in El Chaltén—this is the kind of day-trip view of Fitz Roy that makes you forget the wind and the early bus. From the trail, the granite spires pop above lenga forest and the wide Patagonian valley, setting up a perfect “hike first, feast later” day.

Spoiler: you can’t. Not unless you’re trail-running with a teleportation device.

But you can have an unreal day here—one that feels big, scenic, and satisfying—if you plan it like a person who respects time, wind, and the fact that your legs are not replaceable. 

We’ve spent enough time in El Chaltén to learn two truths:

the hiking is world-class, and

one day is never enough… but it can still be incredible if you plan it like a human with a clock, not like an Instagram caption.

This guide is a one-day game plan built for real travelers with limited time: day-trippers coming from El Calafate, people squeezing El Chaltén into a broader Patagonia itinerary, and anyone who wants a “maximum wow per hour” day without turning it into a survival documentary.

https://youtu.be/wselXYT-3N0

One-day snapshot: what you can realistically do

Here’s the honest trade-off: in a single day, you usually choose one “main objective” (a bigger hike) or you stack several shorter hits (viewpoints + waterfalls + food). Trying to do everything is how you end up speed-walking through paradise while whispering “we’re fine” through clenched teeth.

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El Chaltén one-day snapshot infographic: three realistic time scenarios—day trip from El Calafate, overnight in town, or a car/private transfer at dawn—paired with the best strategy (short-hike stack, one iconic hike, or big hike + add-ons) and the vibe you’ll feel (snack-fueled highlight reel, earned-your-dinner pride, or ‘hacked the system’ energy).

Your time realityBest “one-day” strategyWhat it feels likeDay trip from El Calafate (arrive late morning, leave evening)Short-hike stack + best viewpoints + great foodLike a highlight reel with snacksYou sleep in El Chaltén (one full day + early start)One big iconic hike (Fitz Roy or Cerro Torre) + a small bonus viewpointLike you earned your dinnerYou have a car/private transfer and can start at dawnBig hike + extra add-onsLike you hacked the system

This El Chaltén one-day snapshot infographic breaks down four realistic travel “vibes,” from chasing the iconic Fitz Roy photo to choosing a comfortable classic hike, stacking short day-trip viewpoints, or leaning into cafés and waterfalls when the weather turns chaotic. It’s designed to help visitors match limited time, energy, and conditions with the smartest possible plan.

Destination Snapshot: pick your one-day vibe

VibeYou’ll love this if…Main moveDon’t do thisIconic, “I came for Fitz Roy”You want the photo and you’re willing to workLaguna de los Tres (early start)Starting late and hoping vibes carry youComfortable classicYou want a big day without the steepest grindLaguna TorreAssuming Cerro Torre will show up on commandShort & sweet (best day trip)You’re day-tripping, traveling with kids, or conserving legsMirador de los Cóndores + Chorrillo del SaltoTrying to “also add Laguna Capri just quickly”Weatherproof foodieThe forecast looks chaotic but you still want a great dayMiradores + cafés + waterfallMarching into exposed terrain to prove a point

Audrey Bergner arrives in El Chaltén on day one of our Patagonia adventure, posing beside the Route 41 sign in Santa Cruz Province. The quiet road, wide-open landscape, and rocky hills mark the moment we officially entered Argentina’s trekking capital and kicked off a week built around hiking, weather watching, and big mountain views.

Our one-day “origin story” (why this guide is built the way it is)

When Audrey and I first rolled into El Chaltén, we were equal parts excited and overly ambitious. We’d just come off big Patagonia meals (you know the kind: “we earned this” dinners that you absolutely did not earn), and suddenly we were in Argentina’s trekking capital talking like we were about to summit something. 

Also: we showed up in full “Patagonia food tour” mode, and our bodies were like… excuse me? Audrey’s jeans stopped cooperating, I was entering my “rotunding, bulbous plumptitude” era, and suddenly El Chaltén was politely suggesting we move our skeletons.

Reality check arrived fast. Groceries were pricier and more limited than we expected, Wi-Fi was… let’s call it “sporadic at best,” and the wind was already reminding us who runs this place. Audrey and I inhaled pizza, grabbed supplies, and still couldn’t resist squeezing in a sunset hike to Mirador de los Cóndores because the daylight was basically cheating.

From Mirador de los Cóndores, Nomadic Samuel pauses to photograph El Chaltén spread out below, with the Río de las Vueltas cutting through the valley and rugged Patagonian peaks rising on both sides. This short but steep hike delivers one of the best quick-payoff viewpoints in town, making it a perfect stop on a one-day El Chaltén itinerary.

And by “sporadic Wi-Fi,” we mean: our mobile data basically didn’t work, the Wi-Fi kept dropping, and we even had a moment where we couldn’t get the hotel payment to process. Groceries were pricey (the “a dollar per apple” moment was humbling), but there was free Wi-Fi in the central plaza—so if you need to load maps, tickets, or messages, that little detail can save your sanity.

That first short hike is a big reason this post exists. It’s steep enough to wake up your legs, short enough to fit into a tight schedule, and the views are so immediate that you feel like El Chaltén just handed you a welcome gift. It set the tone for the rest of our stay: move when the weather lets you, eat like it’s part of the plan, and don’t confuse ambition with good decision-making.

December daylight really is cheating (sunset can stretch ridiculously late), but the funny part is we still ended up in “grandma bedtime” mode—hand-washing laundry, setting alarms, and calling it a night while the sky was still basically pretending it was afternoon.

Laguna de los Tres is the iconic “money shot” hike in El Chaltén, featuring turquoise glacial water set beneath the dramatic granite spires of Mount Fitz Roy. Reaching this viewpoint requires a long, demanding hike and a steep final climb, making it a true main objective for travelers trying to maximize a single, clear-weather day in Patagonia.

Choose your “main objective” in 60 seconds

This is the decision that makes (or breaks) your day. Pick one primary goal, then build everything else around it.

This “main objective” idea is exactly how we approached our own week here. Even with six nights in town, Audrey and I still woke up each morning thinking: what’s the one thing today is built around? That mindset kept us from wasting good weather windows—and it stopped us from doing the classic El Chaltén mistake of trying to be everywhere in one day.

Main objectiveThe payoffTime on trail (typical)EffortCrowd levelWeather sensitivityWorks for a Calafate day trip?Laguna de los Tres (Fitz Roy “money shot”)The iconic Fitz Roy viewpoint8–10 hrsHighVery highHigh (wind + visibility matter)Only for early starters / very long daylightLaguna Torre (Cerro Torre vibes)Glacier lagoon + Torre massif drama7–8 hrsModerateHighMediumPossible, but tight if you’re not sleeping in townMiradores + Chorrillo del Salto (short-hike stack)Big views in small bites + waterfall4–6 hrs total (stacked)Low–moderateMediumLow–mediumYes. This is the safest “perfect day trip”Town day + short miradorCafés, breweries, scenery, “I’m still on holiday” energy2–4 hrsLowLowLowYes (and underrated)

If you’re reading this because you have one day and you’re not sleeping in El Chaltén, skip the hero fantasy for a moment and keep reading. We’ll still give you the big-hike option, but we’ll also give you the itinerary that actually fits in the day.

The rules of one day in El Chaltén (aka: how not to self-sabotage)

The bus ride into El Chaltén delivers an unforgettable first impression, with an empty Patagonian road stretching toward jagged, snow-covered peaks in the distance. As you cross the open steppe toward Los Glaciares National Park, the scale of the landscape becomes impossible to ignore—this is where the mountains start to feel close, wild, and wonderfully intimidating.

✅ El Calafate → El Chaltén bus tickets (Busbud)

✅ El Chaltén → El Calafate bus tickets (Busbud)

Rule 1: Build your day around the bus (or your wheels)

If you’re day-tripping from El Calafate, your “start time” is not when you finish breakfast. Your start time is your bus departure. Everything else is secondary.

Your best move: pick one of the earlier buses, and choose your return bus before you choose your hike. (Because it’s hard to enjoy the mountains when you’re mentally calculating sprint speed.)

We get it because we’ve done the “3-hour bus each way” reality—and once you’ve lived that, you stop thinking of El Chaltén as a casual day out and start treating it like a fun little logistics mission (with mountains as your reward).

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El Chaltén’s compact town center sits directly beneath the granite spires of Mount Fitz Roy, creating one of Patagonia’s most dramatic everyday backdrops. Colorful buildings, fluttering Argentine flags, and quiet streets give the village a frontier feel, while the surrounding mountains remind visitors that world-class hiking begins just beyond town.

Day-tripping from El Calafate: the timing math that keeps your day fun

Most day trips look like this:

~3 to 3.5 hours each way on the road

one long scenic stretch along Ruta 40 and Route 23 with the mountains slowly getting sharper

a quick stop en route (often at a roadside spot like Hotel La Leona) to stretch, grab a snack, and remember that “just one day” is, in fact, a full mission

The key question isn’t “What hike do I want to do?” It’s:How many hours do I realistically have between arrival and my return bus?

Use this quick budget:

30 minutes: arrive, bathroom, fill water, sort tickets, organize layers

60–90 minutes: lunch + snacks + a small “town wandering” buffer

60 minutes: reward block (coffee/beer/dinner before departure)

Everything else = hiking time

If you have 4–6 hours of hiking time total, you want the short-hike stack.If you have 7–9 hours of hiking time total and you’re confident in your pace, you can consider a bigger hike.

Bus pairing playbook (use this to choose your “safe” plan)

If you arrive…And you leave…Your realistic hiking window (after buffers)Best planLate morningEarly evening4–5 hrsMirador de los Cóndores + Chorrillo del SaltoLate morningLate evening5–6.5 hrsAdd Mirador de las Águilas or extend your waterfall timeEarly morningEvening6–7.5 hrsLaguna Capri or a longer short-hike stackEarly morningLate evening7.5–9 hrsBig hike possible (Torre is the safer pick)

If you’re looking at that table and thinking “I can do the big one,” we respect the confidence. Just keep one more thing in mind: wind steals minutes. It slows your pace, increases fatigue, and makes breaks longer because you’re searching for sheltered rocks like a lizard with a purpose.

The day-trip golden rule

If your return bus is fixed, choose a plan that lets you be back in town at least 45–60 minutes before departure. That buffer is for:

slow descents

bathroom lines

the sudden need for a second pastry

and the universal Patagonia surprise: weather shifting right when you thought you were done

Rule 2: Patagonia is not a motivational quote

Wind and visibility can change your plan, and that’s not a personal failure. Your goal isn’t to “complete the hike.” Your goal is to have an amazing day and return with the same number of bones you started with.

After a long day hiking in El Chaltén, nothing hits quite like a proper comfort-food reward. This plate of soft potato gnocchi tossed in a rich, creamy mushroom sauce was exactly what our legs and spirits needed—proof that Patagonia isn’t just about dramatic mountains, but also about well-earned meals that feel even better after the effort.

Rule 3: Food is part of the itinerary

In El Chaltén, eating well is not optional—it’s strategy. Audrey and I are foodies. We literally plan hikes (and any other day for that matter) around where the next warm thing is coming from. No shame. A good day here includes:

a proper breakfast

a packed lunch (or a plan for it)

a “post-hike reward” meal that feels mildly ridiculous

Audrey and I leaned hard into the lunchbox routine here—order the night before, pick it up in the morning, and you’re instantly a functional adult with a plan. And yes… we were absolutely the people calling it a “snack stop” when it was clearly a mini lunch (especially the day our salad container tried to explode in the backpack).

Rule 4: Buffers are your best friend

Add buffer time for:

wind (slows you down)

photo stops (you’ll stop)

trailhead logistics (bathrooms, tickets, “where are my gloves?”)

café temptations (you’ll cave)

Hiking in El Chaltén isn’t only about chasing famous viewpoints—it’s also about soaking in stretches of quiet, beautiful landscape like this. Green meadows, twisted lenga trees, and rocky hillsides create a slower, more contemplative side of Patagonia that unfolds step by step as you move along the trails surrounding town.

What you need to know before you start

National Park access and tickets (don’t get caught out)

Most of the classic trailheads around town are part of Los Glaciares National Park’s Northern Zone (Zona Norte). Entrance is handled differently than the Perito Moreno glacier area: for the Northern Zone portals (the ones you’ll care about in El Chaltén), tickets are obtained online and paid by card—no cash (be sure to check current prices as this is ever changing and evolving). Trailheads often have QR codes to scan, but don’t assume you’ll have perfect signal at the exact moment you need it.

If you’re only in El Chaltén for one day, treat this as part of your “pre-game.” Buy your ticket the night before or on the bus with decent data, screenshot the confirmation, and move on with your life.

One small “locals know” note we got early: don’t let the friendly town dogs follow you onto the trails. They’re sweet, but rangers warned us it’s a real problem for local wildlife (including endangered deer in the park). Pet the pup in town, get your serotonin there, and keep the trails dog-free.

Trail navigation: it’s well-marked… but still use offline maps

El Chaltén trails are generally well signed, and major routes are straightforward. Still:

download an offline map

don’t rely on mobile coverage

know your turnaround time (more on that below)

What to pack for a one-day hit (even if you “never get cold”)

This is the minimum kit that keeps your day fun instead of type-two-fun:

Windproof layer (non-negotiable)

Warm layer (fleece or light puffy)

Rain shell or poncho (Patagonia loves drama)

Water (at least 1.5L; more on big hikes)

Snacks you actually want to eat

Lunch (sandwich, empanadas, or a “trail charcuterie” situation)

Sunscreen + sunglasses (yes, even when it’s cloudy)

Hat or buff (wind defense)

Headlamp if you’re doing a big hike or winter/shoulder season

Basic first aid (blister care is the real emergency)

Cash + card (cash for small things / backup, card for the park ticket)

Power bank (cold + photos = dead phone)

The “wind reality check” table

Wind is personal, but numbers help you avoid self-delusion.

Forecast gusts (rough)What it often feels like on exposed sectionsSmart one-day move0–40 km/hAnnoying hair dayAny plan works40–65 km/hYou start leaning into gustsPrefer shorter hikes + viewpoints; be cautious at miradores65–80 km/hBracing becomes tiringChoose the short-hike stack; skip long exposed sections80+ km/hProgress becomes a negotiationMake it a town + mirador day. Seriously.

The Laguna Torre hike begins with long, peaceful stretches through Patagonian forest before opening up to glaciers and dramatic mountain views later on. Here, Nomadic Samuel walks one of the quieter sections of the trail, where twisted lenga trees and soft forest light make the journey feel calm and immersive long before the payoff viewpoints appear.

The perfect one-day itinerary (best for most day-trippers)

This is the itinerary we recommend for most people who have limited time and want a day that feels full, scenic, and joyful without turning into a marathon.

It stacks the highest “wow per hour” spots:

Mirador de los Cóndores (and optionally Mirador de las Águilas)

A proper lunch break

Chorrillo del Salto waterfall

Time for a café/beer reward

You still make your bus without sprinting

Perfect day itinerary: timeline

Use this as a template. Adjust based on your bus arrival/return times and the season’s daylight.

10:30–11:00 — Arrive in El Chaltén and do “logistics mode”

Use the bus ride to buy your park ticket (or confirm it’s ready)

Drop bags at your accommodation (if staying) or use luggage storage

Bathroom break, fill water, buy last-minute snacks

11:00–13:00 — Mirador de los Cóndores (and Mirador de las Águilas if you’re feeling it)

This is the best first move on a day trip because:

it’s close to town

you get panoramic views fast

you learn what the wind is doing today

you start the day with a “wow” instead of waiting hours for it

Mirador de los Cóndores is the classic viewpoint over town and valley. If you’re feeling good and the weather is stable, continue to Mirador de las Águilas for more wide-open scenery.

Our take: Do Cóndores no matter what. Decide on Águilas at the junction based on wind and legs. “Optional” means optional.

13:00–14:00 — Lunch break (don’t skip this)

Eat now. Not later. Later is how you turn into a snack goblin halfway to a waterfall.

Easy lunch options:

Pack a lunch and eat at a viewpoint or in town

Grab a quick café meal

If you’re in a rush, do a bakery run and accept your fate happily

14:00–16:30 — Chorrillo del Salto waterfall (easy, pretty, satisfying)

Chorrillo del Salto is the perfect “afternoon hike”:

short and foresty

steady and low drama

ends at a legit waterfall

If your legs are tired or you’re with family, this is the move that still feels like you did El Chaltén.

16:30–18:30 — The reward phase (coffee + pastry or beer + comfort food)

This is where the day becomes memorable.

After logging serious kilometers on El Chaltén’s trails, settling into a taproom for a well-earned beer feels almost ceremonial. Dark and golden pints like these are a favorite post-hike ritual in town, offering a warm, relaxed space to rest tired legs, replay the day’s views, and toast surviving Patagonia’s famously unpredictable weather.

Pick your vibe:

Café + waffles/alfajor energy

Craft beer + burger energy

Slow dinner if your return bus is late

Our personal rule: If we climbed anything, we are owed something. Preferably with melted cheese.

18:30–20:40 — Return to El Calafate (or sunset stroll if you’re staying)

If you’re day-tripping, you’ll likely be on an evening bus back to El Calafate. If you’re staying overnight, this is your golden-hour stroll time—wander, take photos, and enjoy the fact you’re not leaving.

Mirador de las Águilas is a natural add-on to Mirador de los Cóndores and a smart upgrade for visitors with a bit of extra energy on a one-day El Chaltén trip. The short climb rewards you with sweeping views over open valleys and river flats, offering a quieter, less crowded perspective that still feels expansive and distinctly Patagonian.

How to upgrade your day (without upgrading your suffering)

Maybe you have more time than the average day-tripper. Maybe you slept in town. Maybe you’re fit, stubborn, and fuelled by a suspicious amount of optimism. Here are the best “upgrades” to the day, in order of sanity.

Upgrade 1: Add Mirador de las Águilas (if the wind is behaving)

If you do Cóndores and feel great, keep going to Águilas. The views open up more, and it’s a solid way to feel like you went “beyond the basic.”

Upgrade 2: Add Laguna Capri as a half-day Fitz Roy taste

If you want a Fitz Roy-flavored day without committing to the full Laguna de los Tres boss fight, Laguna Capri is the sweet spot. It’s one of the best “reward-to-effort” hikes in town.

A realistic way to do it in one day:

Start early (ideally sleeping in El Chaltén)

Do Laguna Capri as your main hike

Add Cóndores late afternoon or as a sunrise/arrival warm-up

Upgrade 3: Choose one big hike (Fitz Roy or Torre) and make everything else secondary

If you want the iconic hike experience, do it. Just treat it like your whole day, not something you squeeze between coffees.

Below are two “big hike” one-day itineraries designed to be practical.

This simple wooden sign marks the decision point on the Laguna de los Tres hike—one that matters even more if you’re attempting it as a day trip. Once you commit to this route in El Chaltén, the distance, elevation gain, and final steep climb leave very little wiggle room, making weather, pace, and turnaround timing absolutely critical.

Big Hike Option A: Laguna de los Tres (Fitz Roy) in one day

This is the headline act. It’s also the one that humbles people who thought they were “casual hikers.”

Who this is for

You’re reasonably fit

You have a full day in El Chaltén (sleeping in town helps a lot)

You’re okay with a long day on trail

You’re willing to turn around if weather turns

The one-day plan (sleeping in town)

06:30–07:30: Big breakfast + pack lunch

07:30–08:00: Start hiking early (beat crowds and heat)

10:00–10:30: Laguna Capri area (optional break)

Midday: Push up-valley, steady pace, snack every hour

Early afternoon: Final steep section (“the gut-check”)

14:00–15:30: Enjoy the viewpoint (if visibility is good)

15:30–19:00: Hike back, more careful on the descent

19:30+: Dinner like you just won something

Our own “won something” dinner ended up being a tiny, cozy place near the bus terminal called Senderos (it felt like a boutique-guesthouse dining room—only a handful of tables). I went for a blue cheese risotto situation, Audrey got lentejas, we split wine, and then did the most El Chaltén thing possible: waddled back and passed out early… and slept like champions.

The “gut-check” reality

The last steep section is where people negotiate with themselves. Go slow, take small breaks, and don’t let faster hikers bully your pace. You’ll get there when you get there.

For us, the “gut-check” had a very specific personality: kilometer nine turned into a bottleneck because everyone was tired and the trail got steep, rocky, and extra unforgiving. What kept Audrey and I moving was the steady stream of hikers coming down saying, “keep going, it’s worth it.” Then we finally reached the top, got hit with wind beyond belief, hid behind a rock, and devoured the very sad remains of our lunch (a granola bar and some candy) like we’d never eat again.

Foodie tip: Pack something that feels like a treat. This is not the moment for dry crackers. Bring chocolate. Bring a sandwich you actually respect.

Laguna Torre is one of the most rewarding one-day hike options in El Chaltén, combining long, scenic valley walking with dramatic views of glaciers and granite spires. This route delivers a true Patagonian experience without the punishing final climb of Laguna de los Tres, making it a smart choice for travelers with limited time and good weather.

Big Hike Option B: Laguna Torre in one day

Laguna Torre is often called the “more comfortable” big day. It’s still a long hike, but the elevation gain is more forgiving and the trail is generally straightforward.

Who this is for

You want big scenery with slightly less suffering

You’re day-tripping but have a long daylight window and an early start

You like glacier vibes and moody mountain drama

The one-day plan (sleeping in town)

07:30: Breakfast + pack lunch

08:00: Start hiking

11:30–12:30: Arrive at the lagoon area (depending on pace)

12:30–13:30: Lunch with views (wind permitting)

13:30–17:00: Hike back

18:00+: Reward phase (beer + hot food)

The moody-day truth

Laguna Torre is still beautiful in bad weather, but the “Cerro Torre reveal” depends on visibility. If clouds are glued to the mountains, you might finish the hike thinking, “So… it’s a very nice… and oh so grey.”

That’s still a good day. Just don’t let a moody sky convince you it wasn’t worth it.

Hiking up to Mirador de los Cóndores is one of the easiest ways to earn big views in El Chaltén without committing to a full-day trek. The well-marked trail winds through low Patagonian shrubs and rolling terrain before opening up to panoramic views over town, making it an ideal short hike for day-trippers and first-time visitors.

If you only have one day and you want the “iconic” feel, here’s the best compromise

If you’re day-tripping from El Calafate and you want one bigger hike without rolling the dice too hard, choose Laguna Torre over Laguna de los Tres. The timing is generally more forgiving, and you’ll still get that “I hiked in Patagonia” satisfaction.

Then add Mirador de los Cóndores either:

the afternoon before (if you arrive the day before), or

as a quick sunset hit if you’re staying overnight.

The “turnaround time” rule (the simplest safety hack)

A lot of people get into trouble because they think the hike ends when they reach the destination. It ends when they get back to town with daylight and energy left.

Use this formula:

Decide your latest safe return time (bus departure or sunset minus buffer)

Halve your available time for the outbound journey

Turn around when you hit that time, even if you’re “almost there”

Example:If you must be back in town by 18:00, and you start hiking at 10:00, you have 8 hours total.Your outbound budget is 4 hours. If you haven’t reached your target by 14:00, turn around.

Is it annoying? Yes.Is it better than missing your bus or hiking in the dark with a pastry as your only survival tool? Also, yes.

Patagonicus is one of El Chaltén’s classic post-hike food stops, and this cozy interior captures exactly why. After a long day on the trails, we waited patiently for pizza while swapping trail stories, warming up indoors, and watching other hikers roll in looking just as tired and happy. It’s the kind of place where good food feels earned and time slows down.

🥾 Plan B Adventures: Tours & Easy Day Trips from El Chaltén

Even hardcore hikers end up with a “Plan B” day in Patagonia. When the wind is feral, legs are toast, or you just want someone else to handle the logistics, these Viator options are easy wins.

👉 Browse El Chaltén tours (plus nearby options) on Viator

OptionBest forBook it🚌 El Chaltén “Complete Experience” day tour (from El Calafate)A low-effort way to “see El Chaltén” without committing to a big hikeEl Chaltén Complete Experience Full-Day Tour from El Calafate (Viator)🧊 Perito Moreno Glacier full-day + optional boat safariClassic Patagonia bucket-list day that doesn’t require hardcore hikingPerito Moreno Glacier Full-Day Tour with Optional Boat Safari (Viator)🚤 “Todo Glaciares” navigation (Upsala + Spegazzini)Big-glacier scenery with max comfort (aka: let the boat do the work)Glaciares Gourmet Navigation: Upsala & Spegazzini Navigation (Viator)🗿 El Calafate city tour + Walichu CavesA cultural/history reset day (great when the weather is moody)El Calafate City Tour + Walichu Caves (Viator)🚙 Nativo Experience: Lakes & Caverns (4x4 style)Off-road adventure + viewpoints when you want something different than trailsNativo Experience: Lakes & Caverns (Viator)🇨🇱 Torres del Paine full-day trip (from El Calafate)Maximum “Patagonia wow” in one day (long day, huge payoff)Torres del Paine Full-Day Tour from El Calafate (Viator)

Food strategy for a one-day El Chaltén mission

El Chaltén is a hiking town, which means:

you will burn more calories than you expect

you’ll suddenly care deeply about sandwiches

and you’ll become strangely emotional about warm soup

Breakfast: go big

A one-day itinerary lives or dies by breakfast. Aim for:

eggs + bread + fruit

oatmeal + nuts

or anything that makes you feel stable and powerful

Our place served breakfast at 6:30am and we treated that like the starting gun. Even if daylight goes late, the early start is what makes the whole day feel calmer—especially if you’re chasing a big objective and want a buffer for weather and photo stops.

Lunch: pack it

Even if you plan to eat in town, pack something. Trails don’t care about your lunch reservation.

Our typical “trail lunchbox” looked like: a rice-and-veg salad (plus cheese/egg), an apple, a peanut bar, mini muffins, and a few candies for morale. Very glamorous. Very effective. And if something starts leaking in your bag, congratulations—you’re eating lunch at kilometer two whether you planned to or not.

Easy packable lunches:

sandwiches (classic for a reason)

empanadas

wrap + cheese + salami (trail charcuterie)

leftover pizza (don’t judge; it works)

Post-hike reward: choose your “victory meal”

After a hike, we become very persuasive about dessert. You should too.

Case study: after one of our ~20 km days, we inhaled burgers, walked back to the hotel, and were basically horizontal by 8:30pm. Part legs, part food coma—but that’s the honest rhythm of El Chaltén if you hike big and eat properly.

Reward categories:

“Comfort food” (burgers, fries, milanesa, pasta)

“Café recovery” (waffles, cakes, hot chocolate)

“Beer therapy” (brewpub + anything salty)

There’s a special kind of joy when pizza finally arrives after a long hiking day in El Chaltén, and Patagonicus delivers exactly that moment. This generously topped pie—simple, filling, and easy to share—felt like the perfect post-hike reward, especially paired with a cold drink and the collective relief of finally sitting down after hours on the trail.

Options to Consider:

PAISA High Mountain Coffee — specialty coffee (Colombian-style) plus cakes/pastries for a strong pre-hike start.

La Nieve Café y Viandas — coffee + simple “viandas” (grab-and-go food) when you need something fast and practical.

Panadería & Cafetería Lo de Haydée — classic bakery for facturas, sandwiches, and easy trail snacks.

La Waflería — big sweet and savory waffles (a “before/after the mountain” institution).

Cúrcuma Cocina — vegan + gluten-free comfort food (surprisingly filling), plus healthy options.

B&B Burger Joint — burgers + fries when you want maximum calories with minimum decision-making.

Laborum Pizzería — excellent artisanal pizza (often limited batches), great for an easy take-away dinner.

La Cervecería Chaltén — local craft beer + pub food; classic “we survived the wind” post-hike hangout.

Bourbon Smokehouse — American-style comfort food, cocktails, and local beers (happy-hour energy).

Patagonicus — hearty sit-down spot (pizza/soups/Argentine-ish classics) that works well for groups.

Hostería Senderos Restó Bar — Patagonian-leaning menu + wine bar vibe; they can also prep a packed “vianda” if you ask.

Heladería Domo Blanco — artisan ice cream for the end-of-day victory lap.

The perfect one-day packing checklist

Print this in your brain:

Park ticket purchased (or ready to buy with data)

Offline map downloaded

Windproof layer

Warm layer

Rain protection

1.5–2L water

Snacks (at least 3)

Lunch

Sunscreen + sunglasses

Hat/buff + gloves (shoulder season)

Headlamp (big hikes / shorter daylight)

Power bank

Cash + card

Blister care

We’re extra intense about offline maps here because we learned it the slightly annoying way: our data didn’t reliably work, the Wi-Fi liked to disappear, and “I’ll just load it at the trailhead” is exactly the kind of optimism Patagonia punishes. The central plaza Wi-Fi bailed us out more than once.

Mistakes people make on a one-day visit (so you don’t have to)

Trying to do Fitz Roy and Torre in one day

This is the classic “we’re built different” mistake. Unless you’re trail-running and hate joy, pick one.

Starting too late

Late starts turn gorgeous hikes into stressful marches. If you’re day-tripping, your best lever is the earliest transport you can reasonably do.

Underestimating wind

Wind doesn’t just make you cold. It slows you down, drains energy, and can turn exposed viewpoints into a comedy sketch.

Not packing lunch

You will not regret carrying an extra sandwich. You will regret not carrying one.

Ignoring the return trip

Downhill is where tired legs get sloppy. Save energy and time for the return. It counts.

Micro-itinerary builder: build your own perfect day (with guardrails)

Here’s a simple “plug and play” way to design your one-day plan.

Step 1: Choose your main hike (pick ONE)

Mirador stack + waterfall (safest)

Laguna Capri (half-day classic)

Laguna Torre (big day)

Laguna de los Tres (biggest day)

Step 2: Add one “bonus bite”

Choose one:

Mirador de los Cóndores (if not already)

Mirador de las Águilas (if wind is calm)

A slow café hour (yes, this counts)

Step 3: Add the reward block

Minimum 60–90 minutes. You earned it.

Step 4: Lock your return time

Bus departure or sunset minus buffer.Then work backwards and stop pretending time is fake.

Three complete one-day itineraries (pick your vibe)

Itinerary 1: The “Perfect Day Trip” (most visitors)

Best for: day-trippers, families, casual hikers, anyone who wants a full-feeling day

Morning arrival

Mirador de los Cóndores (+ Águilas optional)

Lunch

Chorrillo del Salto

Café/beer + dinner

Evening departure

Itinerary 2: The “I want a big hike” day

Best for: fit travelers sleeping in town

Option A (Fitz Roy): Laguna de los TresOption B (Torre): Laguna Torre

Early breakfast

Start hiking early

Long lunch break in the scenic zone

Return with daylight

Victory meal

Itinerary 3: The “windy day, still awesome” plan

Best for: high gusts, low visibility, tired legs, shoulder season

Mirador de los Cóndores (check the scene)

Coffee + bakery crawl

Short forest walk or waterfall

Early dinner

Sleep like a champion

🏨 Where to Stay in El Chaltén (Our Top Hotel Picks)

⭐ Quick Booking Box: El Chaltén Hotels (Compare Rates)

PickBest forVibeBooking link🏆 Top PickFirst-timers who want an easy, reliable baseComfortable “no-regrets” stayCompare top stays in El Chaltén on Booking.com💎 Boutique / Treat-YourselfCouples, hikers celebrating a big trek, views + comfort seekersCozy-luxe Patagonia energyBrowse boutique stays in El Chaltén on Booking.com🏘️ Mid-range (great value)Most travelers who want comfort without splurgingWarm, practical, walkableFind mid-range El Chaltén hotels on Booking.com💰 BudgetRoad-trippers + hikers who only need a clean baseSimple, wallet-friendlySee budget stays in El Chaltén on Booking.com

🔎 Want to browse all options instead?👉 Compare all El Chaltén stays on Booking.com

Where to stay (if you can add one night)

If you can turn “one day” into “one day plus one night,” your options expand massively. Even a single overnight lets you:

start at dawn

pick better weather windows

avoid the bus-time crunch

Broad categories:

Budget: hostels + simple rooms (book early in summer)

Mid-range: apartments/posadas for comfort and kitchen access

Treat-yourself: boutique stays with views (and excellent breakfast)

If you only do one upgrade to your trip, make it: sleep in El Chaltén.

Where to stay (if you can add one night): 8 solid options (budget → splurge)

Rancho Grande Hostel & Restaurante (budget / social) — big, classic backpacker base with dorms + privates, 24-hour reception, on-site restaurant, and traveler-friendly facilities (good if you want a lively vibe). 

Patagonia Travelers’ Hostel (budget / central) — right in town and close to the trail starts, with a shared kitchen and free luggage storage (handy if you’re hiking after checkout). 

Familia de Campo Hostel (budget / cozy + practical) — warm, homey hostel feel with two well-equipped shared kitchens, a bright lounge with views, and a garden/BBQ setup.

Hotel Poincenot (mid-range / comfort + location) — comfy rooms in a very convenient spot, with a full breakfast and a bar offering gourmet sandwiches + a strong wine selection. 

Chaltén Suites Hotel (mid-range / hotel comforts) — solid mountain-town hotel with a house buffet breakfast and an on-site restaurant/bar setup (nice for a straightforward, no-fuss stay). 

Hotel Lunajuim (mid-range / friendly + trail-focused) — comfortable, well-located option with breakfast buffet plus restaurant/café/bar energy (and generally “hiker-friendly” service).

Destino Sur Hotel & Spa de Montaña (high / post-hike recovery) — a splurgey pick with a proper spa setup (sauna/jacuzzi/massages) and an indoor heated pool—excellent after big trail days. 

Los Cerros del Chaltén Boutique Hotel (high / views + amenities) — upscale boutique stay known for panoramic mountain views from common areas, plus hotel-style amenities that make resting feel like part of the itinerary. 

Final word: the best one-day plan is the one you can enjoy

El Chaltén is one of those places that rewards ambition—but it rewards smart ambition even more.

If the weather is perfect and you have the time, go big. Chase that iconic viewpoint. Earn the bragging rights.

If the wind is feral or you’re day-tripping on a tight schedule, don’t force a “legendary” hike just to say you did it. Stack the short hits. Eat well. Take in the views. Be present. Your photos will still look like Patagonia.

And your knees will thank you.

✨ Ready to lock in your El Chaltén plan?

🥾 Browse El Chaltén tours on Viator 

🏨 Find El Chaltén hotels on Booking.com 

🚗 Compare El Calafate car rentals on DiscoverCars 

🚌 Book El Calafate → El Chaltén buses on Busbud 

Frequently Asked Questions About Spending One Day in El Chaltén, Argentina (and Making It Count)

Is one day in El Chaltén actually worth it?

Yes. It won’t feel like “enough,” but it can absolutely feel like a proper Patagonia experience if you plan around one main objective and don’t try to cram every hike into one daylight window.

What’s the best hike if I only have one day?

For most people: Mirador de los Cóndores + Chorrillo del Salto (the short-hike stack). If you want one big hike and you’re sleeping in town, Laguna Torre is the best “big payoff without maximum suffering” option.

Can I do Laguna de los Tres as a day trip from El Calafate?

It’s possible but it's awfully tight and risky. You’ll need an early start, long daylight (summer), good weather, and a fast pace. Most visitors enjoy their day more by staying overnight or choosing a shorter plan.

Which is easier: Laguna Torre or Laguna de los Tres?

Laguna Torre is generally easier in terms of elevation gain and feels more “steady.” Laguna de los Tres has that final steep section that turns into a personal negotiation with gravity.

Do I need to pay an entrance fee to hike in El Chaltén?

For the main Northern Zone trailheads in Los Glaciares National Park, yes—there’s a fee and tickets are typically handled online. Check the current rules before you go.

Do I need hiking boots?

For the short hikes, sturdy sneakers can work in good conditions. For the big hikes, boots or trail runners with good grip are a smart move, especially if there’s mud, ice, or loose rock.

How windy does it get in El Chaltén?

Very. Wind can be calm one hour and aggressive the next. Bring a windproof layer and treat gust forecasts like real information, not background noise.

What should I pack for a one-day hike?

Wind layer, warm layer, rain protection, water, snacks, lunch, sunscreen, sunglasses, and an offline map. If you’re doing a big hike or shoulder season, add a headlamp and gloves.

Is it easy to navigate the trails without a guide?

Yes for most classic routes. Trails are generally well marked. Still, download offline maps and pay attention to weather and your turnaround time.

What’s the best time of year for a one-day visit?

Late spring through early fall is the classic season. Summer gives you long daylight but also crowds and wind. Shoulder seasons can be quieter but colder and more variable.

Are the restaurants busy?

In peak season, yes—especially in the evening. Having a backup plan (or eating early) keeps your post-hike reward from turning into a line-standing contest.

Can I do Mirador de los Cóndores with kids?

Usually yes. It’s a short hike and a great “first day” option, but wind can make it feel harder. Go slow, bring layers, and make it a snack-based adventure.

Is Chorrillo del Salto worth it?

Absolutely. It’s easy, pretty, and feels like a “real hike” without requiring a full-day commitment—perfect for a one-day itinerary.

What if the weather is bad?

Lean into the short hikes, viewpoints, cafés, and comfort food. A moody day can still be gorgeous. The key is choosing a plan that keeps you safe and lets you enjoy the atmosphere instead of fighting it.

#### 5 Best Things to do in Ireland for Outdoor Lovers
Towering castles, medieval cities, friendly people, and cozy pubs are all medals on the shelf for Ireland and they continue to drive people to this incredibly diverse island nation year after year. But perhaps Ireland's best feature is the vast number of outdoor activities a traveler can enjoy here.

The country is blessed with rolling emerald hills, glistening creeks and roaring waterfalls. The dramatic coastlines forms fortified cliff barriers that protect the fragile interior ecosystem from the thrashing waves of the Atlantic Ocean.

source: Vagabrothers on YouTube

If you're looking for a place to get out and explore nature and the outdoors, then look no further than Ireland.

In this post, I'm going to share with you the 5 best things to do in Ireland for those who love the outdoors. Let's get started.

Hiking in Ireland, one of the best activities for outdoor lovers.

1. Hiking

There's no question that the hiking in Ireland is some of the best in the world. The landscape is littered with formidable mountains that taunt climbers, while stunning shoreline paths drain camera batteries at an alarming rate.



You don't have to go far to find amazing hiking and trekking opportunities in Ireland either. Just a couple of hours outside of Dublin you'll find the popular Coumshingaun Lake Loop in County Waterford - a 5-hour hike with beautiful views of the lake all the way around (if the clouds don't roll in).

If you're looking to summit something while you're in the country, then Croagh Patrick in County Mayo might be the climb for you.

Around 25,000 pilgrims trek to the summit every year on the last Sunday in the month of July (Reek Sunday). This means that the hiking trail is well-worn and sign-posted so you really can't get lost.

Once at the top you can enjoy breathtaking views of Clew Bay and the surrounding countryside.

And these are just 2 of the many hikes you can find in Ireland.

Fly fishing is one of the best things to do in Ireland if you love the outdoors.

2. Fly Fishing

If you're into fly fishing, then for sure Ireland should be on your fly angling bucket list. Ireland has some of the best fly fishing in the world. With massive 20 lb salmon running up its rivers and the infamously fast-growing Farox Trout lurking in the depths of the Great Western Lakes.

Bring along your best 3-weight fly rods for the smaller creeks and rivers where you can land beautiful brown trout that range from 2 - 4 lbs.



You'll want to bring a heavier set-up for the Western Lakes and for Salmon-rich fisheries like The River Moi and The River Boyne, where you can find yourself hooking into 20-25 lb fish if you're lucky.

For a bit of saltwater fly fishing, head to the Dingle Peninsula, where you can cast your line from the beaches and tie into some beautiful Pollack, sea bass and wrasse.

The great thing about fly fishing in Ireland is that it can be done for a pretty decent price. A fishing license will cost around €25 and that should cover you for most types of fishing around the country. Just be mindful of local laws, regulations, and etiquette while you're on the rivers or lakes.

Some places are in private fisheries though, and if you plan to get into those pools, you'll have to pay a pretty penny, with permits costing as much as €20 per day.

Luckily, while Ireland isn't necessarily one of the cheapest countries in the world to travel, you can actually get by on very little if you rent a car (from €12 / day) and plan to camp the entire time. Which brings me to my next point...

From wild camping to eco-lodges, there are lots of places to enjoy the outdoors in Ireland.

3. Camping

Every outdoor lover enjoys a good campsite, and Ireland has plenty to suit all types of camping. From campervan parks and RV parks, to wild camping and eco-lodges with campgrounds on them, you can find a beautiful place to pitch your tent or park your camper throughout the country.

Campgrounds can cost as little as €8 per night and have all of the amenities you could ask for. There are plenty of books and guides to the best campsites around Ireland, so you shouldn't have a problem getting to them.

The best way to visit Ireland on a camping trip is to rent your own vehicle and drive around the country with a tent and some sleeping gear in the trunk. Luckily, car rentals are extremely affordable in Ireland, costing as little as €12 per day for longer rental periods.

While there are no designated "free" camping spots in Ireland, the country is large and wild enough that you can find free places to camp if you're on a multiday hike.

If there are people or houses in view, always go and ask if it's okay if you pitch a tent as you might unknowingly be on someone else's land. If there's nobody around to ask, you should be able to camp there, but just be sure to follow the "Leave No Trace" rules.

Clean up your garbage, be respectful, and care for the environment around you.

Biking can be a great way to explore the countryside in Ireland.

4. Biking

Just as there are plenty of hiking trails around Ireland, so too are there amazing cycling paths. Whether you want to go on a quick day ride, or a multi-day cycling adventure, you can do it all in Ireland.

One of the best areas in the country for cycling is around Killarney National Park. There are plenty of tour operators there that can take you out for a day, and you can also head out on the well-marked trails yourself.

See beautiful Lough Leane, elegant Muckross House and Gardens, mystical Muckross Abbey, and the multi-tiered Torc Waterfall. You'll get plenty of opportunities to take photos of the amazing scenery.

Pedal along paved and dirt paths past Muckross Abbey, Lough Leane, and the Torc Waterfall to name a few.

Horse trekking is another fun way to enjoy nature and the outdoors in Ireland.

5. Horseback Riding

With 50 thoroughbred horses per 10,000 people in Ireland, they have one of the highest race-horse to human ratios of any country on Earth. But that doesn't mean that you have to be a jockey to have a great time on horseback in the country.

There are a lot of beautiful horse trekking paths and day rides you can do around the country, particularly around Dingle and Sligo. Ride along beaches, through forests and past grazing sheep in the farmlands.

You won't have a hard time finding a horseback tour operator in these places and you can usually book a trip the same-day, particularly in the off-season.

When To Visit Ireland For The Outdoors

Ireland is a place with very unpredictable weather, so if your trip is based on being outside, then you should consider the best time of year to visit.

For hiking, fly fishing, horseback riding, camping, and cycling, the best time to visit Ireland is between June and September. The days are longer and the rains are less oppressive (but you can still get dumped on).

The only problem with this time of year is the dense crowds that descend on Ireland in these peak-season months.

If you really want to avoid the crowds, then you can probably get away with visiting Ireland in the shoulder season, from mid-April through May, or in late September through October.

During these types, you'll almost certainly be wetter and colder, but on those dry sunny days (which still occur in these months) you'll get your photos without 100 other people in the background.

Planning an Outdoor-Focused Trip to Ireland

Choosing Your Region (or Two)

RegionBest ForLandscape VibeGreat BasesIdeal StayKerry & DingleHiking, biking, coastal drivesBig peninsulas, cliffs, beachesKillarney, Dingle3–5 nightsGalway & ConnemaraWild hikes, bogs, lakes, islandsWindy, rugged, moodyGalway, Clifden3–4 nightsSligo & DonegalSurf, mountains, quiet roadsDramatic headlands, empty beachesSligo town, Donegal town3–5 nightsWicklow & EastEasy hikes close to DublinForests, valleys, rounded hillsDublin, Glendalough area2–3 nightsSouth Coast (Cork)Coastal walks, whale watchingCoves, colorful towns, gentler hillsKinsale, Bantry, Skibbereen3–4 nights

You don’t need to cram all of these into one trip. In fact, you’ll have a much better time if you pick two regions and do them properly rather than trying to race around the whole island.

If it’s your first visit and you love the outdoors, a really solid combo is:

Wicklow + Kerry/Dingle, or

Galway/Connemara + Sligo/Donegal

Dublin can just be your gateway on either end for a night or two.

7-Day Outdoor Ireland Itinerary (Minimal City Time)

If you want to spend most of your time outside, but still fly in and out of Dublin, here’s a realistic one-week loop that keeps you mostly on trails and coastal roads rather than inside museums.

Day 1 – Dublin to Wicklow

Pick up a rental car at the airport and head straight for Wicklow.

Stop in Glendalough for your first taste of valley-and-lakes hiking.

Choose a shorter marked loop if you’re jetlagged or a longer circuit if you’re buzzing with energy.

Stay in or near Glendalough, Laragh, or a country B&B.

Outdoor focus: Forest trails, monastic ruins, peaceful lakes.

Day 2 – Wicklow to Killarney

Early start and long drive down to Killarney.

Stretch your legs in Killarney National Park with an easy walk to Torc Waterfall or along the lakes.

If you’ve still got some gas in the tank, rent a bike in town to spin out your legs on the quiet roads around the park.

Outdoor focus: Warm-up hikes, lake views, first glimpse of the big mountains.

Day 3 – Killarney National Park & Gap of Dunloe

Dedicate this one to mountains and valleys.

Hike or cycle into the Gap of Dunloe, a glacial mountain pass with photogenic views every few steps.

Mix and match: walk one way, take a boat trip on the lakes, or hop in a jaunting car if you’re hiking with someone who’s less keen on big distances.

End the day back in Killarney with a hearty meal and, if you’re lucky, live trad music.

Outdoor focus: Valley hiking, peaceful roads, classic Irish scenery.

Day 4 – Ring of Kerry or Dingle Peninsula

You don’t really need both on a short trip. Pick your style.

Ring of Kerry: A big, classic loop with mountain passes, coastal viewpoints, and villages. Great if you love panoramic driving days with shorter stops and quick walks to viewpoints.

Dingle Peninsula: More compact, more intimate, fantastic coastal walking opportunities (like sections of the Dingle Way). Great if you want to park up and walk along cliffs, beaches, and headlands.

Either way, pack snacks, rain gear, and your camera. You’ll be pulling over constantly.

Outdoor focus: Short hikes, viewpoints, beaches, rugged coastal roads.

Day 5 – Killarney to Galway via the Cliffs and Burren

This is a longer travel day, but you can break it up well.

Drive north toward the Cliffs of Moher.

If the weather is cooperating, walk a short section of the cliff path instead of only hitting the main viewing platform.

Continue through the Burren, where the landscape turns into cracked limestone, wildflowers, and low hills. There are short waymarked walks in the Burren if you want to stretch your legs again.

Roll into Galway in the evening and wander through the old streets.

Outdoor focus: Iconic cliffs, unusual limestone landscapes, sea air.

Day 6 – Connemara: Lakes, Bogs, and Mountains

Give Connemara at least one full day.

Drive the loop through Maam Cross, Leenane, and Clifden.

Drop into Connemara National Park for a climb up Diamond Hill (a half-day hike with big views that doesn’t require mountaineering skills).

If the weather is grim, you can still do shorter low-level walks and scenic drives around the fjord and lakes.

Outdoor focus: Accessible mountain hiking, wild valleys, ever-changing light.

Day 7 – Back to Dublin

If your flight is late or the next day, sneak in a quick beach walk or promenade stroll around Salthill in Galway in the morning.

Make your way back to Dublin, aiming for a daylight drive if possible.

Drop off the car and end your trip with a last pint and a plate of something comforting.

Not every day will go perfectly to plan—this is Ireland after all—but this kind of structure keeps you outside plenty, without you needing to change beds every single night.

Getting Around: Car, Public Transport, or Tours?

You can absolutely explore parts of Ireland without driving, but for an outdoor-focused trip, a car is close to a superpower.

Quick Comparison

OptionBest ForProsConsRental CarHikers, campers, photographersTotal flexibility, trailheadsNarrow roads, extra cost, parkingPublic TransportPoint-to-point, linear routesNo driving stress, eco-friendlierLimited in rural areas, fixed timesDay ToursNon-drivers, short tripsEasy, no planning requiredCrowds, rushed stops, less flexibility

If you’re comfortable driving on the left and handling small roads, renting a car unlocks trailheads, quiet coves, and campsites that buses will never touch.

If driving feels like a nightmare, base yourself in a well-connected town (like Killarney, Galway, or Dublin) and:

Use trains/buses for longer jumps between main hubs

Join local day tours to reach national parks and scenic routes

You’ll see less, but you’ll also have far fewer “white-knuckle” moments with stone walls and tractors.

Budgeting for an Outdoor Trip in Ireland

Outdoor gear and walking are free once you own the kit, but Ireland itself isn’t particularly cheap. The good news: focusing on hikes, wild beaches, and countryside walks keeps your daily spend lower than a city-and-museum-heavy trip.

Very Rough Daily Costs (Per Person, Sharing)

StyleAccommodationFood & DrinkTransportActivitiesApprox Total (EUR)BudgetCamping/hostelsSelf-cater + pubsShared car/busMostly free outdoors60–90Mid-RangeB&Bs/guesthousesMix of pub meals & cafésRental car + fuelGuided day tour here/there100–150Splash-OutBoutique hotels/lodgesRestaurant meals, drinksPrivate car, taxisMore paid activities180+

You can shave costs by:

Camping or using hostels in the more outdoorsy areas

Self-catering some meals, especially breakfasts and picnic lunches

Filling your days with free hikes instead of daily paid attractions

You’ll spend a surprising amount on:

Pints and coffees (it adds up fast)

Fuel if you’re doing big loops

Occasional “treat” experiences like boat trips or guided mountain days

Weather, Gear, and Staying Comfortable Outside

Ireland has a reputation for giving you “four seasons in one day.” That’s not just a cute marketing phrase. You genuinely can go from sun to mist to sideways rain in an afternoon.

Clothing and Footwear

Think in layers rather than big heavy coats.

Base layer: Something that wicks, not cotton

Mid-layer: Fleece or light insulated jacket

Outer layer: Proper waterproof shell (not a fashion raincoat)

Bottoms: Quick-drying hiking trousers or leggings

Footwear: Sturdy hiking boots or trail shoes with decent grip

You don’t need full alpine gear, but you do want shoes that can handle mud, rock, and slippery grass. Trails are often boggy, and once your feet are soaked, morale drops quickly.

Outdoor Ireland Questions Answered: Hiking, Weather, Costs & Planning Tips

What’s the best time of year to visit Ireland if I want to be outside most days?

It depends. For long daylight and your best odds of drier days, aim for roughly June to early September, when evenings stretch late, temperatures are mild, and trail conditions are usually friendliest. If you prefer fewer crowds and don’t mind more rain and cooler temps, the shoulder seasons of late April–May and late September–October can be fantastic for hiking, biking, and road trips, as long as you pack proper waterproofs and accept that some days will be a write-off weather-wise.

How many days do I need in Ireland for a proper outdoor-focused trip?

Honestly, I’d say a week is the bare minimum if you want to see more than one region without rushing, and 10–14 days feels like a sweet spot for hikers and nature lovers. With seven days you can realistically pair somewhere near Dublin (like Wicklow) with one big western region such as Kerry or Connemara; with longer, you can slow down, repeat favourite trails in different light, and sprinkle in rest days so you’re not just driving from view to view.

Do I need to rent a car to reach the best hikes and outdoor spots in Ireland?

Yes. If your main goal is trailheads, remote valleys, and quieter coastlines, having a car makes life dramatically easier and opens up areas that buses simply don’t reach. You can still piece together a good trip using trains, buses, and the occasional day tour, but a rental car gives you freedom to chase weather windows, start hikes early, and linger at viewpoints without worrying about timetables.

Is driving in rural Ireland stressful for first-time visitors?

A little. The combination of driving on the left, narrow hedged roads, stone walls, and tractors can feel intense on the first day or two, but most people adjust far quicker than they expect. Go slow, avoid over-ambitious daily distances, let locals overtake when it’s safe, and stick to daylight driving at the start, and you’ll likely discover that Irish roads are part of the adventure rather than a nightmare.

How fit do I need to be to enjoy hiking and biking in Ireland?

Not really. You don’t need to be ultra-fit to enjoy Ireland’s outdoors because there are graded options almost everywhere, from gentle lake circuits and forest loops to full-day mountain hikes. If you can comfortably walk for a few hours at home and manage some hills, you’ll be fine on many classic routes; just be honest about your fitness, check estimated times, and choose shorter, lower-level trails on days with rough weather or low energy.

Is it safe to hike and camp in Ireland on my own?

Generally, yes. Ireland is widely considered one of the safer countries for solo travel, and most outdoor areas feel relaxed and welcoming, especially if you stick to well-used paths and established campsites. That said, treat the landscape with respect: check the forecast, let someone know your route and rough return time, bring a charged phone and basic navigation, and remember that the biggest risks are usually weather, slippery ground, and poor visibility, not crime.

Can I wild camp in Ireland or do I always need to stay in official campsites?

It’s complicated. There isn’t a blanket legal right to wild camp in Ireland, so in theory you should always have the landowner’s permission, but low-impact, discreet overnight camping is often tolerated in remote upland areas. As a rule of thumb, pitch late and leave early, stay well away from houses, farms, and roads, avoid camping in sand dunes or fragile ecosystems, and always follow strict leave-no-trace principles so that future hikers are still welcome.

What should I pack for an outdoor trip to Ireland with unpredictable weather?

Absolutely, think layers. A breathable base layer, a warm mid-layer, and a proper waterproof shell are essential, along with quick-drying trousers, a hat, gloves, and sturdy hiking boots or trail shoes with good grip for mud and wet rock. I always throw in a lightweight pack cover or dry bags for my gear, a compact umbrella for town days, and a cosy change of clothes for evenings in pubs so I’m not sitting in damp kit after a big hike.

Is Ireland a good outdoor destination for families with kids?

Yes. Ireland works brilliantly with kids because so many walks are short loop trails with plenty of natural wow moments like waterfalls, castles, cliffs, and sheep-filled fields to keep them interested. If you base yourself in places like Killarney, Dingle, or Galway, you can mix gentle hikes, beaches, boat trips, bike rentals, and pony rides with rainy-day options and family-friendly pubs where live music starts early.

How expensive is an outdoor-focused trip to Ireland compared with a city break?

Surprisingly, it can be more affordable than a museum-heavy city itinerary because most of your entertainment is free once you’ve got the gear. You’ll still feel costs in accommodation, food, fuel, and the odd guided activity, but hiking, coastal walks, and beach days don’t require tickets, and camping or using hostels in rural areas can keep your daily spend closer to a budget range than if you were eating and drinking your way through cities every day.

Do I need special permits or licenses for hiking, camping, or fishing in Ireland?

Sometimes. You generally don’t need permits for normal hiking in national parks and popular mountain areas, though certain car parks may charge and some private estates may have their own access rules. Fishing is different: many rivers and lakes require a licence or local permit, especially for salmon and trout, so it’s worth checking in advance with angling clubs or tackle shops rather than assuming your regular travel insurance covers everything.

Are the rain, wind, and midges in Ireland really as bad as people say?

Mostly, yes, but they’re manageable if you prepare your expectations. You should absolutely expect rain and wind at some point on almost every trip, even in summer, so good waterproofs and flexible plans are non-negotiable; in some western areas during warmer months, tiny biting insects (midges) can also be annoying around still water and at dusk, but a bit of insect repellent, long sleeves, and choosing breezier spots usually keeps them under control.

Where should I base myself in Ireland if I love the outdoors but still want pubs and music at night?

Luckily, Ireland specialises in small towns that offer both. Killarney is an obvious choice for easy access to mountains, lakes, and the Ring of Kerry; Dingle gives you coastal hikes and a compact, lively town; Galway is perfect if you want Connemara and the Burren by day with plenty of food and music after dark; and places like Westport or Sligo put you close to quieter mountains and surf beaches while still having a proper evening scene.

Can I still enjoy Ireland’s outdoors if I rely on public transport and guided tours?

Definitely. You’ll have a bit less freedom than someone with a rental car, but if you base yourself in well-connected hubs like Dublin, Killarney, Galway, or Cork you can use trains and buses for the long stretches and then book local day tours, shuttles, or guided hikes into national parks and scenic peninsulas. You won’t reach every remote trailhead, but you’ll still get a solid mix of cliffs, lakes, and valleys without ever having to get behind the wheel.

In Closing

If you're looking for an exhilarating outdoor adventure, then Ireland is likely one of the best places to visit.

Spend your days exploring waterfalls, fishing in rivers and riding horseback, and then wind down in the evening over a delicious pint and a hot Irish stew or a boxty in some of the oldest local pubs.

This is what Ireland is all about and as unforgiving as the weather can be, it can also be brilliant and the hospitality of the local people far outweighs the hostility of the climate and landscape. If you're going to Ireland, get ready for an adventure.

#### Bear Bistro at Island Lake Lodge: The Most Scenic Lunch in Fernie (Our Meal + Views)
Fernie was the kickoff to our British Columbia road trip—me (Nomadic Samuel), Audrey Bergner (That Backpacker), and our tiny boss (baby Aurelia)—freshly back in my home province after too much time staring at southern Alberta skies. And yes, Fernie immediately delivered that “ohhh right… this is why people won’t shut up about BC” feeling.

A well-earned lunch after a morning of hiking in Fernie, with Nomadic Samuel diving into the Wagyu smash burger on the Bear Bistro patio at Island Lake Lodge. This casual mountain meal came with big views, fresh alpine air, and that unmistakable “we have to come back here” feeling.

But the moment that turned this trip from “great little mountain town” to “we are absolutely coming back” happened up a rugged backroad, at the end of a cedar-valley climb, on a patio that made us say “wow” so many times we started sounding like malfunctioning robots.

Lunch at the Bear Bistro (a.k.a. Bear Lodge Bistro) at Island Lake Lodge was the highlight of our day… and honestly, one of the highlights of the trip.

https://youtu.be/RoRAhuPKiRE
Here is our BEST things to in Fernie YouTube video on Samuel & Audrey channel. For our entire Island Lake Lodge experience (including Bear Bistro) jump ahead to 12:53. 

Bear Bistro at a glance

WhatDetailsWhereIsland Lake Lodge, Fernie (up in the Cedar Valley, surrounded by peaks + old-growth forest)VibeCasual, serene, rustic lodge energy; big patio + big views SeasonSummer operations (dates vary year to year; check the calendar because closures happen) HoursTypically 11am–5pm, but operating days can vary by week (see “Before you go” below) ReservationsNone — first come, first served Pet policyNo pets on the patio (there’s “pet parking” nearby) Our orderMiso ramen + Wagyu smash burger + salted caramel ice cream sandwich + “Jos Louis” cake 

The view from the Bear Bistro patio at Island Lake Lodge is pure Fernie magic, with alpine peaks rising behind old-growth evergreens and summer flowers lining the terrace. It’s the kind of place where lunch turns into a long pause just to soak it all in.

The “earned lunch” factor

We didn’t roll in like elegant lodge people who wear linen and say things like “a spritz would be divine.”

We arrived like this: baby backpack, sweat, trail dust, and the kind of hunger that makes you briefly consider taking a bite out of your own camera strap.

That day started with the Fairy Creek Falls hike (Aurelia in the hiking backpack, Sam sweating “like a mule,” avalanche terrain signs keeping things spicy, and baby waking up perfectly in time for the waterfall like she has a built-in director’s schedule). 

Then we did the only responsible thing: Fernie Brewing Company for a “we earned this” beer (Ridgewalk Red Ale)… and learned the hard way it’s more pints + snacks than full meal. Which was fine. We called it “appetizer strategy.”

And then… Island Lake Lodge.

That drive felt like a little quest: the kind where you’re not sure if you’re headed to lunch or to audition for a rally race.

After lunch at Bear Bistro, we hit the shaded forest trails around Island Lake Lodge with Aurelia happily riding along in the backpack carrier. It was the perfect post-meal wander—quiet, green, and a reminder of how family-friendly Fernie’s hiking can be.

Getting to Bear Bistro (drive, bike, or hike)

Island Lake Lodge is up the Cedar Valley, and the Bear Bistro is up at the lodge. It’s not hard… it’s just committed.

Option 1: Drive up (most common)

After you enter the property gates, you drive up the access road approximately 8 km to the top. It’s described as rugged, with a 30 km/h max, and they recommend allowing about 20-30 minutes. 

Tip: If you’re prone to carsickness, this is a great time to practice deep breathing and positive affirmations like “the ice cream sandwich is the real deal.”

Option 2: Bike up (for the “I deserve this lunch twice” crowd)

Island Lake encourages riders to use the Lazy Lizard bike trail to reach the lodge, and there are bike racks right by the bistro entrance. 

Option 3: Hike up (the full reward mode)

From the lower parking lot, you can hop on the Rail Trail → connect to the Old Growth Trail → then hop on the Lake Trail with signage for the lodge. 

Tourism Fernie also calls out family-suitable options like the Rail Trail, Old Growth Trail, and Lake & Fir Trails. 

The entrance sign for Island Lake Lodge marks the start of the scenic drive into one of Fernie’s most iconic backcountry destinations. From here, visitors access hiking trails, spa facilities, and the Bear Bistro, making it the gateway to a memorable mountain experience.

The “check the calendar or you’ll cry” reality

This is the one detail that matters more than anything else: Island Lake Lodge has non-operational days and private function closures—and they really, truly want you to check the calendar before you drive up. 

Here’s the practical version:

The Bear Bistro page lists the bistro as open in summer Friday–Tuesday, 11am–5pm, with closures for private functions and non-operational days. 

Tourism Fernie hiking info adds that vehicle access to the lodge is typically Sunday–Tuesday, and on non-operational days/private functions the road is closed beyond the lower lot and no services are available. 

So: yes, you can often still hike from the lower lot even when services are closed… but if you drove there for ramen and a patio beer, you want an operational day.

Tip: The most Fernie sentence ever is, “We drove 30 minutes for lunch and got a great hike instead.” Don’t let it happen to you.

The spacious patio at Bear Bistro is where mountain lunches stretch a little longer than planned, with forest views, fresh air, and classic lodge architecture all around. On a sunny day in Fernie, this is the kind of place you settle into and forget about the clock.

First impressions: this place is ridiculous

We rolled up and immediately started doing the wide-eyed, pointing-at-everything routine.

“Look at the view… look at the chairs… look at the lake…”

Then the official verdict: Unbelievable place. The highlight of the day. The highlight of the trip. 

Island Lake Lodge sits in a spectacular setting—big peaks, a mountain lake, lush forests—and the approach itself runs you through ancient old-growth cedar.

And the Bear Bistro is in Bear Lodge, the historic first log building completed at Island Lake—home to that grand river-rock fireplace and the bistro itself.

It has that “cozy-but-not-cutesy” mountain feel: handcrafted lodge details, a rustic interior, and then… the patio. 

Island Lake itself literally describes the Bear Bistro as the kind of “post-exertion reward” that belongs on the “most scenic patio in the Fernie area.”

We’re not here to start patio wars, but… we get it.

Audrey diving into a comforting bowl of miso ramen at Bear Bistro, with towering evergreens and fresh mountain air all around. It was one of those unexpected moments where great food and an even better setting come together perfectly.

What we ate at Bear Bistro (and what we’d order again in a heartbeat)

We arrived at Island Lake Lodge in full “earned lunch” mode: we’d already done our hike, had a quick beer stop, and then rolled up the road to this backcountry lodge with serious hunger.

Then we stepped onto the patio and immediately went full-time professional view appreciators (“look at the view… look at the chairs…”) and declared it the highlight of the day—and honestly the trip.

And the food? It matched the setting. Like, suspiciously well.

A well-earned dessert moment at Bear Bistro, with Nomadic Samuel digging into the Elevated “Jos Louis”—a rich chocolate cake layered with soft marshmallow. It’s the kind of nostalgic, indulgent finish that feels especially right after a mountain-view lunch at Island Lake Lodge.

Our order (with prices from the Summer 2025 menu)

DishPriceWhy we loved itMiso Ramen22“Like traveling back to Japan.” Deep, comforting, post-hike perfection. Wagyu Smash Burger27“Shake Shack inspired” double-smash joy with major cheese energy. Housemade Ice Cream Sandwich (salted caramel)15Big, melty, and wildly satisfying with mountain views as the backdrop. Elevated “Jos Louis”12Nostalgic chocolate + marshmallow decadence that begs to be shared. 

A close-up look at the miso ramen at Bear Bistro, packed with chashu pork, springy noodles, and a deeply savoury broth. It’s the kind of comforting, unexpectedly excellent dish that tastes even better when enjoyed in the mountains at Island Lake Lodge.

Miso Ramen: the “wait… we’re in Fernie?” bowl

Audrey ordered the Miso Ramen, and I’m not exaggerating when I say she was transported. Her exact line: “It was like traveling back to Japan.” 

On the menu, it’s a proper, composed bowl: miso broth, egg noodles, chashu, soy egg, spinach, wood ear mushroom, and bamboo shoots. Which is basically the ideal blueprint for a post-hike reset: warm broth, chewy noodles, that salty-savoury miso depth, and enough “stuff” that you feel like you actually ate a meal.

It was also the perfect contrast to the whole rugged-road / cedar-valley / big-peak environment. You expect burgers, fries, and maybe a salad. Instead, you’re suddenly cradling a ramen bowl while staring at the Rockies like this is the most normal thing in the world. 

Who should order it

Anyone who wants something warming + satisfying after hiking.

Anyone who’s had great ramen elsewhere and is skeptical you can get a legit bowl up a backroad in the mountains. (You can.) 

The Wagyu smash burger at Bear Bistro is pure comfort food done right, with crisp-edged patties, melty cheddar, and a soft brioche bun that holds it all together. It’s the kind of mountain lunch that tastes even better after a hike—and makes you seriously consider ordering a second one.

Wagyu Smash Burger: the double-smash, “so much cheese” moment

I went with the Wagyu Smash Burger, and my immediate comparison—unprompted, with the confidence of a man holding a brioche bun—was that it felt Shake Shack inspired. 

Menu-wise, it’s two 3oz Wagyu patties, American cheddar, house-made burger sauce, and a brioche bun.And in real life, it ate like a greatest-hits playlist:

The thin, smashed patties give you those browned edges and that deep “griddled” flavour.

The cheddar + sauce + brioche combo is basically engineered to make you say, out loud, “this is so good” at least twice. (We did.) 

If you want the simplest “mountain lunch done right,” this is it. And if you’re sharing food like we did, it’s the perfect counterpart to ramen—one bowl, one burger, and suddenly you’ve built a tiny personal buffet without ordering half the menu.

Who should order it

People who want a classic patio lunch that feels indulgent but not fussy.

People who say they’re “not that hungry” and then eat half your burger. (We see you.)

The housemade ice cream sandwich at Bear Bistro is pure summer joy—thick chocolate chip cookies wrapped around salted caramel ice cream that starts melting the moment it hits the patio. It’s the kind of dessert you order “to share” and then quietly hope no one asks for the last bite.

Dessert: the ice cream sandwich + “Jos Louis” = choose-your-own happiness

We did the responsible adult thing and ordered two desserts.

Housemade Ice Cream Sandwich (salted caramel)

Audrey’s dessert was the housemade ice cream sandwich (you can choose salted caramel or cookies ’n’ cream on the menu). It’s a real ice cream sandwich—aka, not a polite little afterthought. This is the kind of dessert that makes you do quick math like: “If we hold it up for a photo, will it melt immediately?”

Who should order it

People who want a fun, shareable dessert that feels like summer—especially if you’ve hiked and you’ve earned the sugar. 

This Elevated “Jos Louis” is pure nostalgia with a mountain-lodge glow-up—a dense chocolate cake layered with soft marshmallow and finished with a rich chocolate coating. It feels playful and indulgent at the same time, and somehow even better enjoyed on the Bear Bistro patio.

Elevated “Jos Louis”

I went with the Elevated “Jos Louis”—a moist chocolate cake + soft marshmallow.It's a decadent chocolate cake with a bit of marshmallow filling. Nostalgic snack-cake energy, but upgraded and plated.

Who should order it

Chocolate people. Marshmallow people. Anyone who wants dessert that feels like a little victory lap. 

The underrated best ingredient: a sleeping baby

Here’s the part that made the whole meal feel borderline luxurious: Aurelia slept the entire time we were eating. So we had this rare, peaceful patio lunch where we actually got to taste everything while quietly competing to steal each other’s bites (“Oh my gosh, you’ve got to try this”). 

Then she woke up ready for the lake trail, and we got the full Fernie parenting experience: delicious meal, ridiculous views, and a tiny traveller who’s somehow thriving in the middle of it all. 

Island Lake Lodge feels like something pulled straight from a mountain daydream, with its handcrafted log architecture and expansive patios overlooking the surrounding wilderness. This is the heart of the property—and the place where many Fernie adventures naturally slow down and linger.

What else is on the Bear Bistro menu

This is pulled from the Bear Bistro Summer 2025 menu PDF (so expect seasonal changes), but it gives you a very accurate sense of the style: casual mountain dining with playful flavours, plus boards, salads, bowls, and a serious drinks list.

Quick “pick your vibe” guide

If you want…Order thisShare plates + patio grazingBear Frites, boards, chicken tendersA full meal that’s not a burgerMiso Ramen, Golden Crunch Bowl, Goldilocks BowlA lighter mealBear Summer Salad, Lodge Caesar, Watermelon & Tomato Salad Something crunchy + saucyChicken Karaage Sandwich or Golden Crunch Bowl Dessert-first behaviourIce Cream Sandwich, Whipped Cheesecake, Elevated “Jos Louis” 

Desserts

Whipped Cheesecake (berry coulis, graham cracker) — 12 

Elevated “Jos Louis” (moist chocolate cake, soft marshmallow) — 12 

Housemade Ice Cream Sandwich (salted caramel or cookies ’n’ cream) — 15 

Bowls

Goldilocks Bowl (quinoa, chickpeas, kale, carrot + beet, miso tahini dressing, soft-boiled egg, feta, beet hummus) — 24 

Miso Ramen (miso broth, egg noodle, chashu, soy egg, spinach, wood ear mushroom, bamboo shoots) — 22 

Golden Crunch Bowl (karaage chicken, tonkatsu sauce, rice, cabbage, grilled corn, carrot, chili garlic aioli) — 29 

Handhelds

Crispy Tofu Mushroom Sandwich (miso/tahini tofu, portobello, gochujang aioli, havarti, slaw) — 23 

Chicken Karaage Sandwich (chili garlic aioli, slaw, brioche bun) — 28 

Wagyu Smash Burger (two 3oz patties, cheddar, burger sauce, brioche bun) — 27 

“Take A Hike” Burger + Beer special

If you do the lodge’s trail-of-the-week promo, there’s a Burger + Beer special for 27 (with a veggie option: Lion’s Mane mushroom burger) and a choice of Fernie Brewing beers. 

Salads (and add-ons)

Bear Summer Salad — meal 19 / starter 12 

Lodge Caesar — meal 21 / starter 13 

Watermelon & Tomato Salad (whipped feta, prosciutto, focaccia, citrus dressing) — 23 

Optional add-ons: garlic chicken breast (10), garlic shrimp skewer (8) 

Start / Share

Crispy Chicken Tenders — 20 

Bear Frites — full 18 / half 12 

Cheese Board — 36 

Butcher’s Board — 34 

Charcuterie Board — 59 

Drinks (highlights)

Mocktails: Lavender Lemonade, Virgin Caesar, Zen Fizz, Iced Coffee. 

Local beers: multiple Fernie Brewing Company cans listed (Project 9 Pilsner, Hit the Deck Hazy IPA, Headwall Hazy Pale Ale, What The Huck Berry Ale, Waymark IPA, Campout Pale Ale). 

Cocktails: Sunnyside, Summer Berry Mojito, Lodge Caesar, Elderflower Spritz, Pimm’s Cup, Zen Fizz, plus a rotating cocktail-of-the-week. 

Drinks: cold beer, mountain air, and the “why don’t we live here?” moment

One of the lodge’s own descriptions of Bear Bistro is basically: cold beer, friends, lunch, backcountry setting.

And yes, there are Fernie Brewing Company options on the Bear Bistro menu. 

We had already put in a Fernie Brewing stop earlier (Ridgewalk Red Ale), but the vibe up here is different: quieter, slower, more “let’s stare at mountains until our eyes forget what emails are.”

After a beautiful hike around Island Lake, Audrey takes a moment to soak in the breathtaking mountain and lake views, enjoying the peace and tranquility that comes with a well-earned break at the lodge. This quiet moment, just steps from the water, was the perfect ending to our adventure.

A quick lakeside walk after lunch (the easiest “wow” you’ll get all day)

After eating, we wandered down toward the lake for a gentle stroll—because Island Lake has that Banff/Lake Louise kind of “how is this real?” feel without the crowds.

The Lake Trail is an easy loop (45–60 minutes, minimal elevation). It’s perfect when your time is limited—like after lunch.

Our version, because it was later in the day, was less “45–60 minutes” and more “look at baby… look at lake… wow… wow… wow.” 

“Take A Hike” Burger + Beer special (worth planning around)

If you want to turn this into a proper Fernie mission, Island Lake Lodge runs a “Take A Hike” trail-of-the-week deal: complete the featured trail, take a photo at the iconic spot, and you can redeem a Burger + Beer special at Bear Bistro.

The Bear Bistro menu itself explains the mechanics (photo at the iconic spot, tag on Instagram, show your server) and lists the $27 burger + beer special for participants. 

Tip: Even if you don’t do the promo, the “trail + patio” formula is the whole magic of this place.

Choosing your approach (quick decision matrix)

ApproachEffort levelBest forWhat to knowDrive-up lunchLowFamilies, casual visitors, “we just want the patio”Rugged road; allow time; check operational days/blackout dates Bike up (Lazy Lizard)MediumMountain bikers, active lunch peopleBike racks by the entrance; they prefer riders use the trail over the road Hike up (Rail → Old Growth → Lake)Medium to highHikers who want the full “reward meal”On non-operational days you’ll start from the lower parking lot; services may be closed “Lunch + Lake Trail loop”Very lowEveryoneEasy loop after eating; prime for families and “we’re full” strolls 

Practical tips (so your visit is smooth)

No reservations: it’s first come, first served. 

Groups: they may limit large group tables during peak congestion.

Pets: no pets on the patio; “pet parking” is nearby. 

Pack in/out: it’s private property—respect the place and pack out your garbage if you’re picnicking/exploring. 

If you’re hiking: bring the usual mountain basics. We’ll admit it—on our Fairy Creek hike we didn’t have bear spray (oops), so don’t copy that part. fernie_cleaned_transcript

Tip: If you’re visiting with kids, this is a dream scenario when naps align. If naps don’t align… well… you’ll still have mountains.

Island Lake is as serene as it looks, with still water reflecting towering peaks and forests in every direction. Canoeing here seems like it  unhurried and almost meditative—one of those simple experiences that quietly becomes a trip highlight.

Why this lunch felt like “the Fernie version of luxury”

Fernie impressed us because it has that sweet spot of serious scenery without the “everyone has the same itinerary” vibe.

We came for lunch.

We left plotting a return trip for canoeing, longer hikes, and Audrey’s extremely convincing pitch to “drive out right before a big snow dump and accidentally get stuck for three days.”

Fernie, you got us.

Plan your Bear Bistro day (simple, realistic game plan)

TimeDo thisMorningPick a hike (either in Fernie proper or up at Island Lake Lodge trails) Late morning / lunchAim for Bear Bistro before the afternoon rush; order something hearty + save room for dessertAfter lunchLake Trail loop (gentle, scenic, very “we’re full but happy”) Before you leaveTake a final patio look and say “wow” at least once for good luck 

Questions to toss in the comments

Have you eaten at Island Lake Lodge yet—Bear Bistro lunch, or the Tamarack Dining Room in the evening? And if you’ve done the “Take A Hike” trail-of-the-week special, tell us which trail you tackled.

Everything you need to know about Bear Bistro at Island Lake Lodge in Fernie, BC

Is Bear Bistro open year-round?

Nope. Bear Bistro is a summer-season spot, and operating dates/hours can change based on lodge operations and private functions. Always check the lodge calendar before heading up. 

What are Bear Bistro’s hours?

Typically 11am–5pm during summer operations. The exact operating days can vary by week (some sources list Friday–Tuesday; others list Sunday–Tuesday), so treat the calendar as the final boss. 

Do you need a reservation for Bear Bistro?

No. It’s first come, first served.

How do you drive to Bear Bistro?

After entering the property gates, it’s about 8 km up a rugged access road with a 30 km/h max speed; they suggest allowing about 20-30 minutes. 

Can you always drive all the way to the lodge?

Nope. In summer operations, vehicle access past the lower parking lot is closed on certain days, and on non-operational/private function days there may be no services. Plan around operational days and confirm by calendar.

Where do you park if the road is closed?

Tourism Fernie notes free parking at the lower parking lot during the summer season, and that it becomes the primary staging area on days when the road is closed beyond it. 

Can you bike to Bear Bistro instead of driving?

Yes. You can ride up via the Lazy Lizard trail, and bike racks are located right by the bistro entrance.

What’s the easiest hike to do after lunch?

Yes. The Lake Trail is a gentle loop (about 45–60 minutes with minimal elevation gain) and is specifically described as a great post-meal option. 

What did we order at Bear Bistro?

We had miso ramen, the Wagyu smash burger, and then dessert: the salted caramel ice cream sandwich and the “Jos Louis” cake. 

Is the ice cream sandwich actually worth it?

Yes. It’s one of those “this is why people blog” desserts—housemade, big, and totally designed for patio happiness. 

Is Bear Bistro kid-friendly?

Yes. Casual lunch, outdoor space, and you’re surrounded by easy trails. We visited with a baby and had the rare miracle of her sleeping through the whole meal. 

Are dogs allowed on the patio?

No. Pets aren’t allowed on the patio, but there’s designated “pet parking” nearby. 

What is the “Take A Hike” special?

It’s a trail-of-the-week promo where you hike the featured trail, take a photo at the iconic spot, and redeem a Burger + Beer deal at Bear Bistro (listed as $27 on the menu for participants). 

What’s the vibe inside Bear Lodge if the patio is full?

Cozy and rustic. Bear Lodge is the historic first log building at Island Lake and it’s known for its grand river-rock fireplace—classic lodge energy. 

Can you just picnic instead of eating at Bear Bistro?

Yes, but Island Lake Lodge notes it’s private property and asks visitors to pack in/pack out all belongings and garbage. 

Is Island Lake Lodge only about food in summer?

Nope. Tourism Fernie highlights hiking, canoeing, spa treatments, and lodging—so you can make it a full day (or a “why did we only book one night?” situation).

#### Best Easy Hikes in El Chaltén: Top Short Trails With Epic Views (Big Payoffs For Non-Hikers)
El Chaltén might be the only place on earth where you can hike for 45 minutes and come back feeling like you conquered Patagonia. It’s basically a town built around one question: “How quickly can I reach a view that makes me whisper ‘that can’t be real’?”

Here’s the good news: you don’t have to do the full “sufferfest” hikes to have an El Chaltén glow-up. This town is basically a buffet of short trails and viewpoint walks where the effort-to-reward ratio is borderline suspicious. We’re talking big mountains, big skies, big “how is this real life?” energy.

El Chaltén, Argentina — Nomadic Samuel (self-proclaimed foodie, still willing to earn dinner) follows an easy hillside trail through classic Patagonia: green valleys, scrubby grass, and distant jagged peaks under dramatic clouds—proof the views don’t require a full-day sufferfest.

This post is a curated menu of the best easy hikes: quick wins, half-day beauties, windy-day saves, and Fitz Roy “postcard” moments that don’t require you to train like you’re joining a mountaineering cult. Bring snacks, bring layers, and bring a sense of humor—Patagonia will test all three.

This guide is specifically for non-hikers, casual hikers, “I hike but I don’t identify as a hiker,” and anyone who wants epic Patagonian scenery without a full-day trek and blisters. We’ll keep it practical, funny, and honest—because El Chaltén is magical, but it is also windy enough to turn your face into jerky.

El Chaltén, Argentina showcases its full Patagonian drama from even the easiest trails, with towering snow-capped peaks, deep green valleys, and rugged hills unfolding layer by layer as you hike. It’s a place where short walks still feel epic, delivering world-class scenery without committing to a full-day trek.

Easy hikes in El Chaltén at a glance

HikeTime (round trip)Difficulty vibeBig payoffBest forMirador Río de las Vueltas30–60 minShort + punchy uphillFast valley view“I need a win”Mirador de los Cóndores1–2 hrsShort, steady climbPanoramas + condor chancesFirst hike / sunsetMirador de las Águilas (add-on)+45–90 minLonger, gentlerSteppe + Lago Viedma feelClear-day bonusChorrillo del Salto3 hrsForest walkWaterfall + chillWindy day / familiesLaguna Capri4–5 hrsEasy-to-moderateClassic Fitz Roy postcard“I want THE view”Mirador Fitz Roy (add-on)+45–90 minSame vibe as CapriBigger Fitz Roy framingPhoto huntersMirador del Torre3–4 hrsEasy-to-moderateTorre valley dramaHalf-day classicMirador Maestri (bonus add-on)+1–2 hrsRockier, longerGlacier + spire theatreStrong legs / extra time

Tip: In El Chaltén, “easy” usually means short and straightforward—not flat. If you want flat, you’re in the wrong town, and we say that with love.

El Chaltén, Argentina makes choosing your adventure part of the fun, with clearly marked wooden trail signs pointing hikers toward Laguna Torre, Mirador Maestri, Campamento De Agostini, and essential facilities. It’s a reminder that even first-time visitors can confidently explore Patagonia’s legendary hikes without a guide.

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🎒 Your Travel Toolkit (Book These 4 Things)

✅ What to book💡 Why it’s worth it🔗 Quick link🥾 Tours & experiencesEasy way to lock in a glacier day, a Lago del Desierto adventure, or a guided option when weather turns moodyBrowse El Chaltén tours on Viator🏨 Hotels & staysEl Chaltén sells out fast in peak season — booking early = better locations + fewer “only the priciest rooms left” momentsFind El Chaltén hotels on Booking.com🚗 Car rentals (optional)Best for freedom days: Ruta 40 viewpoints, flexible timing, photo stops, and a smoother Lago del Desierto runCompare car rentals in El Calafate (gateway to El Chaltén) on DiscoverCars🚌 Bus ticketsThe classic El Calafate ↔ El Chaltén route is simple — but popular departure times fill upBook El Calafate → El Chaltén buses on Busbud

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Destination snapshot: pick your vibe

TrailVibeBest forIdeal stay-in-town moodDon’t missMirador Río de las Vueltas“Fast payoff balcony”Jet-lagged arrivals“We just want to stretch our legs”The first big valley revealMirador de los Cóndores“Patagonia 101”First-timers“Sunset mission”Wind + panorama comboMirador de las Águilas“Steppe horizon”Clear-day explorers“Let’s go a bit further”The landscape shift beyond townChorrillo del Salto“Forest chill”Families + recovery“Today we’re being gentle”Snack by the fallsLaguna Capri“Fitz Roy postcard”Non-hikers chasing icons“We want the classic view”Fitz Roy from the lake edgeMirador Fitz Roy“Bonus framing”Photo lovers“One more viewpoint!”Different angle, same dramaMirador del Torre“Serious trek vibes”Half-day hikers“We want a proper hike”The valley scale + viewpointsMirador Maestri“Glacier theatre”Strong ‘easy hikers’“We still have juice”Spires + glacier mood

The “easy hike” mindset in Patagonia

El Chaltén is famous for world-class trekking that starts right from town. That’s the headline. 

Even on short hikes, plan like a responsible adult pretending to be an athlete:

Dress for “all four seasons in one afternoon.”

Assume wind will try to steal your hat and your dignity.

Bring water and snacks even for “quick” walks.

Tell someone where you’re going, because cell service is often a myth on trails.

Don’t chase views at all costs. If the weather is genuinely nasty, the mountains will still be there tomorrow.

Tip: When people get in trouble in El Chaltén, it’s rarely because they chose the “wrong hike.” It’s because they underestimated wind, cold, or how quickly conditions shift.

How to interpret trail times in El Chaltén

You’ll see times posted on trailhead signs and in guidebooks. Treat them like a conservative estimate for normal hikers—and then adjust:

Add time if you like photos (you do).

Add time if your group contains a snack negotiator (it does).

Add time if the wind is fighting you (it will).

Add time if the trail is muddy/snowy (season dependent).

A helpful rule of thumb for non-hikers: if a sign suggests “1:45 one way,” plan your day as if it’s “2:15 or 2:30 one way,” because you’re going to stop, breathe, stare at mountains, and say “wow” on repeat.

El Chaltén, Argentina — this weather-based hiking infographic helps travelers choose the best easy trail for the day, matching wind, clouds, rain, or low energy with short hikes that still deliver epic Patagonian views, while clearly showing which routes to avoid to minimize suffering and maximize enjoyment.

Choose your trail by today’s weather (the anti-suffering matrix)

ConditionsBest easy choiceWhyAvoid todayStrong wind in townChorrillo del SaltoForest cover gives shelterExposed miradors if it feels brutalClear sky + calm-ishCóndores + ÁguilasBig panoramas, great lightNone—go wildClouds rolling inMirador Río de las VueltasQuick win before weather shiftsLonger add-ons far from townLight rain / mixedChorrillo del Salto or Torre viewpoint (if manageable)Forest or quick turn-around optionsLong, exposed viewpointsYou’re tired / travel dayRío de las Vueltas or CóndoresShort, satisfyingCapri if you’re cookedYou want the “iconic”Laguna CapriFitz Roy postcard potentialOvercommitting beyond Capri

Pick your hike decision matrix (the town-standoff solver)

Use this when your group is standing in town doing the classic “So… what do we do?” standoff.

Your situationChoose thisWhy it winsYou have 45 minutes and questionable motivationMirador Río de las VueltasFast payoff, tiny commitmentYou want the best “first hike”Mirador de los CóndoresEasy, iconic, sunset-friendlyIt’s windy and you want shelterChorrillo del SaltoMostly forest = less wind punishmentYou want Fitz Roy views but not the full boss levelLaguna CapriThe sweet spot for non-hikersYou want a half-day hike with “serious trek” vibesMirador del TorreClassic valley walk, big sceneryYou woke up energetic and overconfidentCapri + Mirador Fitz Roy add-onUpgrade your views without going full Los TresYou want to extend Torre a bitMirador Maestri add-onGlacier theatre (conditions permitting)

El Chaltén, Argentina — after arriving by bus from El Calafate, Audrey Bergner heads toward the hotel with luggage in tow, dwarfed by the massive rock walls rising behind town. It’s a classic first impression of El Chaltén, where even the walk from the bus station feels like the opening scene of a Patagonian adventure.

Before you hit the trail: what we actually did (and what we learned)

We arrived from El Calafate by bus. The ride was smooth, the scenery was ridiculous, and we had that fresh-travel glow where you believe you are the type of person who wakes up at 6 a.m. to hike.

We checked into Vertical Lodge and immediately discovered a universal travel truth: a good base makes you feel ten times more capable. We had space, comfort, and a great overall setup.

Then came the secret El Chaltén superpower: summer daylight. In December, the sun basically refuses to go to bed. That changes everything. You can arrive, unpack, and still squeeze in a sunset hike like you’re starring in your own Patagonia montage.

Our first move? Mirador de los Cóndores. Short, steep, dramatic payoff. The perfect “hello, mountains” handshake.

Also: groceries were limited and internet was… let’s call it “aspirational.” $1 apples. So if you’re planning to work remotely or you’re very particular about your hiking snacks, do yourself a favor and show up with the basics.

Tip: El Chaltén is not trying to be inconvenient. It’s just prioritizing mountains over fiber-optic cables. Respect.

Trailhead basics (where the easy hikes actually start)

Most of the easy classics are accessed from two places:

The main trailhead area at the end of Avenida San Martín (Fitz Roy / Torre / Chorrillo del Salto routes).

The Mirador trailhead area closer to the entrance of town / visitor center zone (for Cóndores / Águilas, depending on your route).

If you can walk to a coffee shop, you can walk to most trailheads. El Chaltén is compact, which is one reason it’s so beloved: you can hike hard, eat well, and be back in town before your socks forgive you.

El Chaltén, Argentina — a wooden trail sign points the way to Mirador Río de las Vueltas, one of the easiest and fastest scenic walks from town. This short climb offers a classic Patagonian payoff, with sweeping valley views that make it a perfect first hike or quick outing when time, weather, or energy are limited.

1) Mirador Río de las Vueltas (the fastest big-view payoff)

Mirador Río de las Vueltas is the kind of “accidentally iconic” viewpoint that makes El Chaltén feel unfair in the best way. You’re barely out of town, your lungs have only just started filing minor complaints, and suddenly the valley opens up with that classic Patagonian scale: ribboning river below, wide open space beyond, and a landscape that looks like it was designed by someone who hates subtlety. It’s also a great first taste of the Fitz Roy trail network—like a free sample that makes you consider ordering the full meal.

What makes this one especially good for non-hikers is the psychology: it’s a clear “checkpoint” hike. You can do the viewpoint and head back feeling victorious, or use it as a confidence test before committing to longer options like Laguna Capri. The view is quick, the trail is obvious, and the reward is immediate—perfect for arrival day, windy days when you still want a win, or mornings when you want to “do something” before the coffee fully kicks in.

Quick stats

MetricWhat to expectTrail typeOut-and-backTime30–60 minutes round trip (depending on breaks)EffortShort, steeper at the beginningWind exposureModerate at the viewpointBest timeMorning light or late afternoonBathroomNone on trail

El Chaltén, Argentina — the sweeping view from Mirador Río de las Vueltas reveals the full scale of Patagonia, with the braided Río de las Vueltas winding across a broad green valley framed by rugged mountains. This easy, short hike delivers an immediate sense of space and drama, making it a perfect first stop or low-commitment scenic win.

Why it’s perfect for non-hikers

It’s short enough that nobody has time to complain.

It gives you a legitimate valley panorama.

It’s a natural decision point: continue to Laguna Capri or turn around feeling victorious.

What it feels like

The first part is uphill and gets your heart rate into “okay fine, this is exercise” territory. Then you pop out at the viewpoint and suddenly you’re staring down the Río de las Vueltas valley with that classic El Chaltén scale: tiny town energy, enormous landscape flex.

Our take

If you’re arriving late, if the wind is rude, or if you’re still negotiating with your knees after yesterday’s travel day, this is the move. We love it as a calibration hike because it tells you how your body feels today—without committing to anything.

Turnaround options (choose your own victory)

Option A: Viewpoint and back (the classic).

Option B: Viewpoint, snack, back (the superior).

Option C: Viewpoint, feel amazing, continue toward Capri (dangerous, but tempting).

El Chaltén, Argentina — a clearly marked trail sign points hikers toward Mirador de los Cóndores and the optional Mirador de las Águilas extension, two of the easiest and most rewarding viewpoint hikes near town. With open terrain and big skies, this is a classic route for panoramic valley views and the chance to spot condors riding Patagonian thermals.

2) Mirador de los Cóndores (the iconic easy viewpoint)

Mirador de los Cóndores is the classic “starter hike” for a reason: it’s short, close to town, and it delivers an honest panoramic view that feels wildly disproportionate to the effort. Think of it as El Chaltén’s orientation hike—your first proper look at the town sitting in its dramatic valley, with the surrounding mountains flexing in the background like they’re trying to win an award. If you’re visiting in summer, it’s also a prime sunrise/sunset play because the light lingers forever and makes the whole landscape look more cinematic than it has any right to.

Real talk: it’s “easy,” but it’s not flat. The climb is short and steady and will absolutely wake up your thighs (Patagonia’s way of saying “hola”). Once you crest the top, the wind often shows up like an unpaid extra who insists on being in every scene—so bring a layer even if town feels calm. And yes, you might see condors circling overhead… but even if the birds don’t clock in today, the viewpoint still feels like a legitimate Patagonian payoff.

Quick stats

MetricWhat to expectTrail typeOut-and-backTime1–2 hours round tripEffortShort, steady climb (feel it in your thighs)Wind exposureHigh at the topBest timeSunset or sunrise (if you’re a hero)BathroomNone on trail

Why it’s amazing

Short trail, big reward.

Great for sunrise or sunset.

There’s a real chance of seeing condors, which makes you feel like you’ve been personally selected by nature.

El Chaltén, Argentina — from the rocky summit of Mirador de los Cóndores, Nomadic Samuel pauses to photograph the town below as the Río de las Vueltas curves through the valley and rugged Patagonian mountains rise in the distance. This short, accessible hike offers one of the best panoramic overviews in El Chaltén, proving big scenery doesn’t require a long trek.

What it feels like

It’s steeper than it looks. Not “help I’m dying” steep—more like “why are my thighs suddenly aware of themselves?”

You climb, you climb, and then it opens up. The view is wide, the wind is usually louder than your thoughts, and you get that first true taste of why El Chaltén is a hiking legend.

Our sunset strategy

We did this on our first evening because December daylight is basically a cheat code. It was the perfect low-commitment way to get mountain drama without hiking for eight hours on day one like maniacs.

Tip: Bring a wind layer even if town feels calm. Patagonia loves a plot twist.

Condor expectations (keep it realistic)

Yes, you might see condors. No, the condors are not scheduled. But even if you don’t see a single bird, the panorama still makes the hike worth it.

El Chaltén, Argentina — the sweeping panorama from Mirador de las Águilas delivers a true sense of Patagonian scale, with layered green valleys, braided river flats, and distant snow-covered peaks stretching far beyond town. This easy extension beyond Mirador de los Cóndores feels quieter and more expansive, rewarding hikers with space, depth, and big-sky drama.

3) Mirador de las Águilas (the “add-on with a different planet” vibe)

Mirador de las Águilas is the underrated sibling of Cóndores—the one you do when you finish the first viewpoint and think, “That… wasn’t bad. Maybe we’ve got more in the tank.” The magic here is that it feels like you’ve stepped into a different Patagonia: fewer “mountain portrait” vibes and more wide-open horizon energy. On a clear day, the view stretches out over the steppe and can include a glimpse of Lago Viedma in the distance, which makes you realize just how massive this landscape really is.

The best part is that the extension is generally gentler once you’re past the junction—so it’s less about suffering and more about time on your feet. The tradeoff is exposure: it’s more open, which means the wind can be extra spicy. If the weather is behaving, it’s a brilliant add-on because it complements Cóndores instead of repeating it—two viewpoints, two different moods, one very satisfying “we hiked today” story to tell over dinner.

Quick stats

MetricWhat to expectTrail typeOut-and-back from the junctionTimeAdd 45–90 minutes to Cóndores (varies)EffortGentler walking, longer overallWind exposureHigh (open terrain)Best timeClear days with good visibilityBathroomNone on trail

Why it’s worth it

Las Águilas gives you a different feel: more open steppe views, more “edge of the world” energy, and on clear days you can get that big-horizon look that reminds you how wild southern Patagonia really is.

Who should do it

People who finish Cóndores and immediately say, “That wasn’t bad.”

Anyone chasing wide landscapes rather than peak portraits.

Clear-day optimists.

Who should skip it

If the wind is already bullying you.

If you’re on a tight schedule.

If you’re hiking with someone whose mood is directly tied to snack frequency.

El Chaltén, Argentina — official trail signage marks the start of the Senda Chorrillo del Salto inside Los Glaciares National Park, clearly outlining distance, low difficulty, and park guidelines. This well-marked forest trail is one of the most approachable hikes in El Chaltén, making it a popular choice for travelers seeking an easy walk with a scenic waterfall payoff.

4) Chorrillo del Salto (the waterfall walk that saves your legs)

Chorrillo del Salto is the “we still want nature, but our legs are filing a formal complaint” hike. It’s a mellow forest walk through lenga trees that feels refreshingly gentle by El Chaltén standards—more of a scenic stroll than a trek. The path is usually wind-sheltered compared to the exposed viewpoints, which makes it a clutch option on days when Patagonia is throwing gusts around like it’s personal. And the payoff is exactly what you want from an easy trail: a proper waterfall you can stand beside, take photos of, and feel like you earned with minimal suffering.

It’s also one of those hikes that works for almost everyone: families, recovery-day hikers, casual walkers, and anyone who wants a scenic win without committing to a half-day mission. In winter, the falls can partially freeze and turn into a totally different kind of spectacle—so this trail isn’t just a summer-only trick. If you go early, you’ll catch it quieter and more peaceful; later in the day, expect company, because everyone loves an easy waterfall flex.

Quick stats

MetricWhat to expectTrail typeOut-and-backTime3 hours round tripEffortLow (mostly mellow)Wind exposureLow-to-moderate (forest helps)Best timeMorning for fewer peopleBathroomNone at the falls (plan in town)

El Chaltén, Argentina — the waterfall at Chorrillo del Salto crashes down a dramatic rock face into a clear mountain stream surrounded by dense Patagonian forest. Reached via an easy, mostly flat walk, this shaded trail is a favorite for low-effort days, windy conditions, or travelers who want a rewarding nature experience without committing to a long hike.

Why it’s perfect

It’s mostly flat and foresty.

It’s a classic “easy win.”

The waterfall is legitimately lovely, and it’s a great excuse to stop and snack like you’ve earned it.

What it feels like

It’s the anti-Patagonia stereotype hike: not a brutal climb, not an exposed ridge, not a marathon. You’re walking through forest, listening to birds, and thinking, “I could live like this.” Then you arrive at the falls, and suddenly everyone is taking photos like they’re in a tourism commercial.

Our take

Chorrillo del Salto is the best option for windy days, recovery days, traveling with kids, and days when you want scenery but not suffering.

Tip: Go early if you want it quieter. This is one of the most popular short hikes for a reason.

El Chaltén, Argentina — the classic view from Laguna Capri pairs the still waters of a mountain lake with the dramatic granite towers of Mount Fitz Roy rising behind it. Reached via a moderate but approachable hike, this viewpoint delivers one of Patagonia’s most photographed scenes and is often the perfect turnaround point for hikers who want iconic scenery without tackling the final brutal climb to Laguna de los Tres.

5) Laguna Capri (Fitz Roy views without the full boss fight)

Laguna Capri is the sweet spot for “I want Fitz Roy views, but I’m not trying to write a memoir about overcoming adversity.” This is the hike that gives you a legit mountain moment without demanding an all-day grind. The trail starts with a punchier uphill section (just enough to make you wonder who labeled this “easy”), then settles into a more pleasant rhythm through forest and open viewpoints. It feels like a real hike—steady walking, multiple scenic breaks, and enough variation that you’re not just staring at your shoes counting minutes.

And then you reach the lake area and Fitz Roy shows up outta nowhere. On clear days, the view is absurd: jagged granite towers, dramatic skyline, and that “how is this real?” energy that El Chaltén does so well. Capri is also a perfect turnaround point: you’ll leave feeling like you truly experienced El Chaltén, without signing up for the final steep push to Laguna de los Tres.

Quick stats

MetricWhat to expectTrail typeOut-and-back (classic)Time4–5 hours round trip (plus photo time)EffortEasy-to-moderate; first km is steepestWind exposureModerate (mix of forest + open)Best timeMorning for light; sunset for drama (if weather holds)BathroomsUsually available at the campsite area (season dependent)

Why it’s the best “big payoff” easy hike

You get an honest-to-goodness Fitz Roy view (clouds permitting).

The trail is well defined and heavily traveled.

There are multiple payoff points, so it never feels like “nothing… nothing… nothing… pain.”

What it feels like (real talk)

The first kilometer is the steepest. It’s the part where you think, “Is this supposed to be easy?” Then it mellows out into a steady climb with valley views, forest sections, and enough variety to keep your brain entertained.

Eventually, you reach the campsite area near Laguna Capri. And then Fitz Roy shows up like a movie star: massive granite, dramatic silhouette, the kind of mountain that makes you whisper “okay wow” even if you’re usually dead inside.

El Chaltén, Argentina — official trail signage at Laguna Capri outlines park rules, environmental guidelines, and basic facilities within Los Glaciares National Park. Surrounded by lenga forest, this sign marks arrival at one of the most rewarding and approachable stops on the Fitz Roy trail, where hikers can pause, regroup, and enjoy iconic mountain scenery without continuing to the tougher upper sections.

Our experience (the “welcome to paradise” moment)

We hit Capri and immediately did the classic thing: stand there in stunned silence.

“Welcome to paradise,” we said. And honestly? Accurate.

We also loved that Capri has infrastructure that makes it feel friendly: a designated camping area, toilets, and an atmosphere that says “yes, normal humans can do this.”

Capri as a turnaround win

If you stop at Capri and head back, you still get one of the best views in El Chaltén. For non-hikers, that’s the whole point.

Capri as a gateway drug (and why you should resist)

From Capri, the trail continues toward Poincenot and ultimately Laguna de los Tres. We did it, and we’ll be honest: that final push to Los Tres is a steep, rocky, soul-taxing kilometer that turns “moderate” into “why do I have hobbies?”

You do not need to do that to feel like you experienced El Chaltén. Capri alone is enough to make you fall in love.

Tip: If you do decide to go farther, treat Capri as a hard checkpoint. Eat. Drink. Reassess. Patagonia punishes impulsiveness.

El Chaltén, Argentina — a wooden trail sign marks the split toward Mirador Fitz Roy, Campamento Poincenot, and Laguna de los Tres along the famous Fitz Roy trekking route. Even for hikers turning around early, this junction feels iconic, signaling the transition from easy forest walking to the more committed climbs deeper into Los Glaciares National Park.

6) Mirador Fitz Roy (Capri add-on for photogs)

Mirador Fitz Roy is for the people who can’t leave “bonus content” on the table. If you’re already on the Fitz Roy trail network and the weather is cooperating, this add-on scratches the itch of going a little farther for a slightly different angle—more framing, more depth, more “yes, we absolutely needed another viewpoint” energy. Think of it as the upgrade for photogs: you’re chasing the cleanest composition, the best light, and that perfect mountain lineup that makes your camera roll feel like it’s punching above its weight.

What makes it work in an “easy hikes” guide is that you’re not committing to the full epic—this is more about strategic extension than a whole new mission. It’s best on clear days when the massif is actually visible (because Patagonia loves hiding Fitz Roy behind clouds like it’s playing hard to get). If your group is feeling good, it’s a satisfying “we did extra” moment; if anyone is already fading, you can skip it with zero regret because Laguna Capri already delivers the main event.

Quick stats

MetricWhat to expectTrail typeAdd-on from the Fitz Roy networkTimeAdd 45–90 minutesEffortSimilar walking; more time on feetBest timeClear days; morning lightWorth it if…You’re not rushed and still feel good

El Chaltén, Argentina — Audrey Bergner pauses at a Fitz Roy viewpoint, framed by rugged trail terrain and the unmistakable granite towers of Mount Fitz Roy rising dramatically in the background. This popular stop delivers one of Patagonia’s most iconic views without committing to the longer, steeper climb toward Laguna de los Tres, making it a perfect turnaround point for many hikers.

Why do it

It changes the framing of the mountains and the valley.

It feels like you “went a bit further” without committing to a full-day epic.

Great if the weather is clear and you’re in that “one more viewpoint” mood.

Who it’s best for

People who love photography

People who hate leaving “bonus content” on the table

People who brought snacks and therefore have power

El Chaltén, Argentina — a wooden trail sign directs hikers toward Mirador Cerro Torre, the classic halfway viewpoint on the Laguna Torre trail. This well-marked junction signals the transition from easy valley walking to more committed terrain ahead, while still offering a satisfying turnaround option for travelers seeking dramatic Patagonian views without hiking all the way to Laguna Torre.

7) Mirador del Torre (half-day hike, big “trekking capital” vibes)

Mirador del Torre is the half-day hike that makes you feel like you’ve earned the title of “trekker” without actually having to suffer like one. The route heads into the valley and builds that slow-burn Patagonian drama: river views, forest sections, and a steady sense of walking deeper into a landscape that keeps getting bigger and moodier. It’s serious scenery with manageable effort, and a clear payoff point that doesn’t require an all-day commitment.

One of the best things for non-hikers is how the trail naturally breaks into “mini rewards.” Spots like Cascada Margarita work as bite-sized milestones—perfect for pacing, snack breaks, and morale management (which, honestly, is half the battle). Cerro Torre also has a different personality than Fitz Roy: less sunny postcard, more dramatic art-film energy. Even if the peaks are partially clouded, the valley walk still feels satisfying—so you’re not putting all your happiness eggs in one perfectly clear-sky basket.

Quick stats

MetricWhat to expectTrail typeOut-and-backTime3–4 hours round tripEffortEasy-to-moderate; biggest climb earlyWind exposureModerate-to-high in open areasBest timeEarly start for calmer conditionsBathroomsNone on the viewpoint section (plan in town)

The sweeping view from Mirador del Torre captures the dramatic scale of Patagonia, with a gentle trail cutting through green meadows toward Cerro Torre and the distant Glaciar Grande. This scenic lookout near El Chaltén offers a rewarding preview of the famous Torre massif before reaching Laguna Torre deeper along the hike.

What it feels like

The early section has most of the climb. Then the trail settles into that classic El Chaltén rhythm: steady walking, huge valley scale, and a constant sense that you’re very small in a very dramatic landscape.

Along the way, there are smaller viewpoints like Mirador Margarita that act like mini-rewards—useful for non-hikers because they break the walk into psychological chunks.

Why it’s great for non-hikers (who still want a real hike)

It’s a satisfying outing: you walk for a few hours, you earn your lunch, you return with pride.

The trail is obvious and popular.

You can turn around at the mirador and still feel like you did a major El Chaltén hike.

Tip: If the wind is savage, Torre valley can feel more exposed than forest routes. Bring layers and be ready to turn around.

A classic wooden trail sign in El Chaltén clearly marks the route toward Laguna Torre and Mirador Maestri, with additional directions to Campamento De Agostini and restrooms. Signage like this makes hiking in Los Glaciares National Park refreshingly straightforward, even for first-time visitors tackling Patagonia’s famous trails.

8) Mirador Maestri (bonus add-on for strong “easy hikers”)

Mirador Maestri is where the “easy hike” starts flirting with “okay, this is actually a full day.” The reason people chase it is simple: it adds extra drama above Laguna Torre—more perspective, a bigger sense of scale, and more of that glacier-and-spires atmosphere that feels uniquely Patagonian. If your goal is to keep things casual, this is optional. But if you’re having a strong day, the weather is stable, and you want to level up your Torre experience without doing something reckless, this extension can feel like the ultimate bonus round.

It’s also one of those viewpoints with a little bit of lore, tied to the climbing history around Cerro Torre, which gives it that “Patagonia isn’t just pretty, it’s dramatic” energy. Practically speaking, this add-on is best approached with a hard-nosed mindset: if the wind is already bullying you, or clouds are closing in, don’t force it. Patagonia rewards patience more than bravado. But on a good day, it’s the kind of extra effort that makes you feel like you unlocked a higher tier of El Chaltén.

If you’re feeling great and conditions are good, consider it.

If you’re already tired, don’t. Save it for another day.

If the weather is closing in, skip it. Safety > content.

This is the point where “easy hike” starts flirting with “long day.” And flirting with long days in Patagonia can get serious fast.

A hiker carefully crosses the rocky moraine near Mirador Maestri on the Laguna Torre trail in El Chaltén, Argentina. This less-traveled section reveals the raw, untamed side of Patagonia, with massive stone fields, sparse lenga trees, and towering mountain walls that make the final stretch feel truly wild.

🥾 Plan B Adventures: Tours & Easy Day Trips from El Chaltén

Even hardcore hikers end up with a “Plan B” day in Patagonia. When the wind is feral, legs are toast, or you just want someone else to handle the logistics, these Viator options are easy wins.

👉 Browse El Chaltén tours (plus nearby options) on Viator

OptionBest forBook it🚌 El Chaltén “Complete Experience” day tour (from El Calafate)A low-effort way to “see El Chaltén” without committing to a big hikeEl Chaltén Complete Experience Full-Day Tour from El Calafate (Viator)🧊 Perito Moreno Glacier full-day + optional boat safariClassic Patagonia bucket-list day that doesn’t require hardcore hikingPerito Moreno Glacier Full-Day Tour with Optional Boat Safari (Viator)🚤 “Todo Glaciares” navigation (Upsala + Spegazzini)Big-glacier scenery with max comfort (aka: let the boat do the work)Glaciares Gourmet Navigation: Upsala & Spegazzini Navigation (Viator)🗿 El Calafate city tour + Walichu CavesA cultural/history reset day (great when the weather is moody)El Calafate City Tour + Walichu Caves (Viator)🚙 Nativo Experience: Lakes & Caverns (4x4 style)Off-road adventure + viewpoints when you want something different than trailsNativo Experience: Lakes & Caverns (Viator)🇨🇱 Torres del Paine full-day trip (from El Calafate)Maximum “Patagonia wow” in one day (long day, huge payoff)Torres del Paine Full-Day Tour from El Calafate (Viator)

Common mistakes non-hikers make (so you don’t)

MistakeWhat happensBetter moveDressing for town, not the trailYou freeze at the viewpointPack layers, alwaysNo snacksSomeone becomes emotionally unstableCarry carbs, keep peaceStarting too lateYou rush, miss the light, stress outStart earlier than you thinkOvercommitting on day oneYou wake up day two feeling ancientDo a short hike firstIgnoring windYou suffer unnecessarilyChoose forest routes on windy daysThinking “easy” means flatSurprise thigh workoutPace yourself, take breaks

The Nomadic Samuel “effort-to-reward” ranking

Because sometimes you just want someone to tell you what’s worth it.

RankTrailEffortRewardVerdict1Mirador Río de las VueltasLowHighFastest win in town2Mirador de los CóndoresLowVery highIconic, do it3Chorrillo del SaltoVery lowMedium-highChill waterfall energy4Laguna CapriMediumVery highBest Fitz Roy “easy” option5Mirador del TorreMediumHighHalf-day classic6Las Águilas add-onMediumHighGreat on clear days7Mirador Fitz Roy add-onMediumHighWorth it if you’ve got fuel8Maestri add-onMedium-highHighOnly if you’re feeling strong

Final pep talk for non-hikers

El Chaltén is not a “you must suffer to belong” destination. It’s a “choose your own adventure” destination.

Do the short hikes. Chase the viewpoints. Eat the snacks. Take the photos. If you’re tired, turn around. If the wind is rude, choose the forest. If the clouds hide Fitz Roy, enjoy the mood and try again later.

Because the real win is not ticking off the hardest trail. The real win is walking out of town, breathing that Patagonian air, and realizing you’re in a place that makes you feel more alive—even if you’re also slightly sore.

#### Bishkek Travel Guide: Top 15 Things to Do in Bishkek, Kyrgyzstan
Here are 15 things to do in Bishkek! If you're keen to visit the Kyrgyz capital, I've got you covered.

Most cities we visit offer an overwhelming amount of activities and places to visit, so much so, that we often find ourselves making compromises in order to cover the places we're most interested in. This was not the case for Bishkek where to-do-lists are best tossed out the window.

Views from Ala Too Square on a gorgeous sunny day with a rainbow in Bishkek, Kyrgyzstan

At first glance, the Kyrgyz capital doesn't appear to offer much in terms of attractions, but we quickly discovered this is the kind of place that you need to experience - sit back, relax, and see where it takes you.

VIDEO: Bishkek Travel Guide 

It's only when you linger in Bishkek and start chatting with expats and locals, that you begin to discover that this city is home to a whole slew of quirky sights, trendy cafes, relaxing parks, underrated attractions, and imposing monuments.



Bishkek won us over in a matter of days and by the end of our visit we understood why so many travellers choose to linger here and others find a way to call it home. But now on to the sightseeing; in this post I'm going to show you 15 things to do in Bishkek on your visit:

15 Things To Do In Bishkek

People walking around Ala-Too Square in Bishkek, Kyrgyzstan

1) Ala-Too Square (Ала-тоо аянты - Площадь Ала-Тоо)

First up, we visited Ala-Too Square, which is the central plaza in Bishkek. While there isn’t much to do here, it’s one of the city’s major landmarks featuring plenty of benches and water fountains where you can take a quick break.

Built in 1984 to celebrate the 60th anniversary of the Kyrgyz Soviet Social Republic. Moreover, here you'll also find a statue of Manas commemorating the 20th anniversary of Kyrgyzstan's independence. State events and celebrations take place here along with occasional protests.

The State History Museum in downtown Bishkek, Kyrgyzstan

2) State Historical Museum

Just across the street you'll find the State Historical Museum. Unfortunately, it was closed for renovations when we visited but if you wander around the back of the building you'll find an imposing Lenin statue.

When open to the public, it houses an eclectic collection of Soviet era items. Additionally, along with mementos from the 2010 revolution.

3) Osh Bazaar (Ош базары)

Another place you’ll want to visit in Bishkek is the Osh Bazaar. It may not be the biggest in Central Asia, but it’s a bustling hive of activity where you could easily spend several hours. Hence, we had no problems at the market, but we were warned by expat friends and locals to ignore the fake police who may ask to see documents and camera permits.

Inside the market you'll find fresh produce, local snacks and clothes. Thus, if you're adventurous with your tastes buds, be sure to try the dry cheese balls which taste a bit like salty goat cheese. Our find of the day was a half of kilo of dates for 100 Som (roughly $1.50 USD). Bargain!

4) Abandoned Casino

Remember my earlier spiel about Bishkek being a little quirky? Indeed, the city has plenty of abandoned buildings to explore, none being more fascinating than the forgotten casino.

Here you'll find graffiti, smashed objects and possibly teenagers hanging out. Also, be sure to bring closed shoes as there is an abundance of broken glass on the ground.

Views of Victory Square Memorial Park in Bishkek, Kyrgyzstan

5) Victory Monument

Directly across from the abandoned casino, you’ll find the Victory Monument which was built to commemorate the 40th anniversary of World War 2.

The three curved arcs represent a yurt, and the sculpture of a woman standing near the eternal flame is meant to symbolize her waiting for her husband and sons to return from the war.

6) Erkindik Park and Ice Cream

I spent more time in Erkindik Park than anywhere else in Bishkek. Whether I was jogging to burn calories or licking ice cream to gain them back, I couldn't get enough of this place.

Popular with locals, especially on the weekends, you'll find this park lined with trees charming at all of times of day. It tends to be quieter in the mornings and busier in the late afternoon and early evening.

7) Zhirgal Banya Bath House

I'm a sucker for saunas and public baths! If I touch down in Finland or South Korea, spending ample time at the sauna is an absolute must. When I found out Bishkek had a popular bath house I just had to check it out. Separated by gender, you strip down to your birthday suit and alternate between steam rooms and saunas. I went to check out the polar plunge dome with ice cold water.

As I was tip-toeing my way down the ladder I was suddenly thrust face first into the pool. Gulping water I immediately swung my head back and noticed a burly man of Kyrgyz World Nomad Games proportions looking down at me with his arms crossed. I had just been pushed into the pool by another grown naked man. Not even know how to react I just ended up swimming to the other end.

Aside from being shoved I did enjoy my experience at Zhirgal Banya.

Our pair of roller skates that we put on to go rollerskating in Bishkek, Kyrgyzstan

8) Retro Rollerskating Rink

Found a warp tunnel where you can time travel back to the 80s? If not, may I suggest visiting the roller rink in Bishkek?

I thought roller-skating would be a lot like ice skating and/or rollerblading; I was wrong. I'm sure my bambi on skates impression provided plenty of humor for the mostly local teenage clientele.

The amount of times I nearly hit the ground was comical to say the least.

9) Kyrgyz National Opera and Ballet Theatre of Abdylas Maldybayev

We missed the start of opera and ballet season by just a few days, however, if you’re in the city at the right time, that’s something you could consider doing as we heard the performances are top notch.

10) Bishkek Cafes

If you're interested in chillin' like a villain you'll find Bishkek has a collection of worthwhile cafes to pass an afternoon.

Check out Q cafe where you'll slurp on gourmet coffee and chow down on freshly baked muffins and Dvorak cake.

Mountain views as we hiked Issyk-Ata Gorge as a day trip from Bishkek, Kyrgyzstan

11) Hiking outside of Bishkek with Trekking Union

If you’re craving a day-trip from Bishkek, you can always plan a hike to the nearby mountains with the Trekking Union.

With hikes happening every weekend you'll find yourself out in nature with good company along the way. Make sure to bring plenty of water, snacks and proper footwear. Also, don't be shocked if the 12 kilometer hike you've signed up for is actually a 25 kilometer jaunt.

 VIDEO: Hiking in Kyrgyzstan

12) Kyrgyz traditional food and International cuisine

As far as traditional Kyrgyz food is concerned, there’s plenty to sample ranging from grilled meats to dumplings, and noodles to mixed rice. Also, be sure to try fermented mare's milk (kymyz - Кымыз) which is a flavour you won't soon forget.



International options are also plentiful in Bishkek with some great steakhouses, Japanese and Korean restaurants. Thus, our favorite was Chicken Star where you can enjoy spicy Korean chicken and tteokochi spicy rice cakes with your pint of beer.

VIDEO: Kyrgyz Traditional Food

13) Craft Beer Scene

Save The Ales! I'm always up for a good cause and if you're jonesing for a craft IPA you've come to the right place.

Here you'll enjoy the casual atmosphere and company of others when things get dark in the city.

You can spot plenty of flowers in various parks and gardens in Bishkek, Kyrgyzstan

14) Oak Park

With our time in Bishkek winding down, we visited Oak Park which is full of peculiar sculptures and offers a nice green escape.

Definitely, it's worth a visit if you're already in the area.

15) Panfilov Park (Панфилов көчөсү - улица Панфилова)

Lastly, there's Panfilov Park, where you can enjoy all sorts of carnival rides right in the heart of Bishkek.

All in all, we had an enormous lunch before visiting so that meant the roller coaster was off limits for us, but it shouldn't necessarily be for you.

#### Chiang Mai is the Perfect Base for Digital Nomads and Expatriates
As I peered outside of the balcony of our Thai apartment - far off in the distance - I spotted a plane ascending. As the plane suddenly disappeared into the clouds it hit me I'd soon be leaving Chiang Mai, Thailand in a couple of days. Pensive, I wondered where the time had gone?

For the past several months Chiang Mai has been our home. While traveling in Vietnam, we felt burnt out. We craved a base, a routine and a sense of familiarity. After months of backpacking continuously we hit a point where travel had become tedious. It was a chore. It was no longer fun.

Trying to juggle the demands of working online while backpacking is a balancing act we've yet to master; however, we knew one thing with absolute certainty: we needed to slow down.

source: Nomadic Samuel and That Backpacker teaming up on Samuel and Audrey channel

In hindsight, I realized I was living a fantasy believing I could keep up the pace of my backpacking adventures from years past with the added commitments of working remotely. Overly ambitious, we continued on until we finally reached a point where our both our mental and physical health started to deteriorate.

Chiang Mai was our saviour.

Chiang Mai = The Perfect Base For Digital Nomads

On the first day we arrived it already felt like home. We purchased bicycles. We quickly discovered restaurants we both loved. Instead of feeling a sense of pressure to see and do as much as we possibly could before moving on to the next destination, we felt content wandering around in our neighbourhood.

After months of hearing stories of fellow digital drifters making Chiang Mai their home I was naturally sceptical. It must be over-rated. How can one want to give up the excitement and stimulation of constantly moving from one place to another to hunker down in just one location?

Well, as I've come to realize over the past several months there are many reasons that Chiang Mai is the perfect base for digital nomads.

Amazing Thai and International Food In Chiang Mai

source: That Backpacker + Nomadic Samuel via Samuel and Audrey YT channel

Some people eat to live. I live to eat. I couldn't image myself staying somewhere were I would not be able to indulge my taste buds. Chiang Mai offers a wonderful spread of cuisine ranging from familiar Thai favourites, tantalizing Northern Thai Khantoke cuisine and top notch International food. Whether we were craving a savoury Panang curry or a Mexican burrito, we had options galore at our disposal. Street food stalls offered tasty treats and small meals for mere dollars whereas sit down International restaurants rarely left us with a bill of over 300 Baht (roughly $10 USD).

These are some of our favourite eateries:

source: Nomadic Samuel + That Backpacker via Samuel and Audrey on YouTube

Chang Chalaad: For the best Pad Thai you can't go wrong visiting this tiny little hole in the wall restaurant located near the northeastern section of the walled city. For dessert indulge in the mango sticky rice. If you're heading there with a group consider the Khantoke set dinner – a feast you won't soon forget.

source: Nomadic Samuel and That Backpacker on Samuel and Audrey YT channel

Dada Cafe: This popular cafe was our go-to-place for breakfast and lunch. With options such as curry fried rice, towering sandwiches and rich creamy fruit smoothies, we came back time and again. Our favourite item on the menu was a concoction called Energy Me - a smoothie with copious amounts of fresh coconut, mango and banana.

El Diablo: For quesadillas oozing with cheese, crispy nachos and stuffed - beyond saturation point - burritos, El Diablo was my favourite spot for a Mexican spread.

Exploring the Culinary Scene

Chiang Mai's food scene extends beyond restaurants; it's an entire culinary adventure waiting to be explored.

Street Food Markets: The Chiang Mai Gate Market and Sunday Night Market are bustling with vendors selling local delicacies like Khao Soi (a spicy coconut curry noodle soup) and Mango Sticky Rice.

Cooking Classes: Immerse yourself in Thai cuisine by taking a cooking class at Thai Farm Cooking School or Asia Scenic Thai Cooking School. Learn to prepare authentic dishes using fresh ingredients picked from local farms.

Vegetarian and Vegan Options: With a significant Buddhist population, Chiang Mai offers numerous vegetarian and vegan restaurants like Anchan Vegetarian Restaurant and Free Bird Cafe.

Fast Internet In Chiang Mai

As a digital nomad internet is your lifeline; your river; your bloodstream. Without it (or with a weak connection) your business operations are literally shut down. In our residence apartment we had a reliable connection and when we wanted a change of scenery we could easily find cafes offering free Wi-fi.

Coworking Spaces and Cafes

Chiang Mai has become a hub for remote workers, and the city caters to this community with numerous coworking spaces and cafes.

Punspace: With locations in Nimmanhaemin and Tha Phae Gate, Punspace offers 24-hour access, high-speed internet, and a community of entrepreneurs.

MANA Coworking & Cafe: A cozy space combining work and leisure, perfect for networking.

CAMP (Creative and Meeting Place): Located in the Maya Lifestyle Shopping Center, this space is open 24/7 and provides free Wi-Fi with a purchase.

Yellow Coworking Space: Known for its modern design and facilities, it's a favorite among tech startups.

Cheap Apartments In Chiang Mai

Aside from food, having a comfortable/affordable place to hang my hat is absolutely paramount when I'm considering a base. Chiang Mai did not disappoint. Our residence apartment was a spacious studio equipped with a queen sized bed, television, fridge, desk space and air conditioning; moreover, our balcony offered stunning views of the city framed by a mountainous backdrop. A rooftop pool and gym was the cherry on top. A place like this must cost a fortune? We ended up spending under $10 a night for our room along with $2-3 a day on utilities. Definitely, value for money.

Finding the Perfect Apartment

Popular Areas:

Nimmanhaemin Road: Trendy and modern, close to universities and filled with cafes.

Old City: Surrounded by historic temples and walls, offering a more traditional vibe.

Santitham: A quieter neighborhood with a local feel and lower prices.

Rental Options:

Short-term Rentals: Ideal for those staying a few weeks to a few months. Websites like Airbnb and Booking.com are useful.

Long-term Rentals: For stays over six months, consider contacting local real estate agents or using Facebook groups.

Amenities to Consider:

Security: Look for places with 24-hour security or keycard access.

Facilities: Pools, gyms, and communal areas can enhance your living experience.

Furnished vs. Unfurnished: Furnished apartments save the hassle of buying furniture.

Sense Of Community In Chiang Mai

An important factor in choosing a place to base yourself is a sense of community and belonging. In Chiang Mai you'll find yourself surrounded by like minded individuals working remotely, teaching and/or starting up businesses. With such an entrepreneurial spirit it's inspiring to meet up with other expats pursuing a location independent lifestyle. Having the opportunity to bounce ideas off of one another certainly kept me on track with my goals and overall focus.

Networking and Social Events

Meetups and Workshops: Regular events on topics like digital marketing, coding, and personal development.

Language Exchanges: Improve your Thai or help others with English at events like Chiang Mai Language Exchange.

Social Clubs:

Chiang Mai Expats Club: Offers monthly meetings and social events.

Outdoor Enthusiasts Groups: Join hiking, biking, or climbing groups to explore nature and meet people.

Chiang Mai Charm Factor

Chiang Mai will charm your pants off. With its laid back pace of life you'll find yourself rubbing elbows with robed monks as you meander down serpentine side streets in search of a quaint little cafes. For the culture vulture, weekend markets and a regular stream of festivals and events will tickle your every fancy. For the party animal, pulsating nightlife is available where an endless flow of Chang beer is on tap.

I was fortunate enough to make Chiang Mai my home for several months. I'm eager to return next year for another stint with my parents. During my time in Chiang Mai I was able to stay on top of work online, feast on an incredible spread of food, live in comfortable apartment and connect with new friends. I ended up spending a mere faction of what it cost - on a monthly basis - compared to backpacking. For less than $1000 a month we lived in Chiang Mai experiencing a high quality of life. For the digital nomad, backpacker, retiree, traveller or aspiring entrepreneur I can't think of a better place to be.

Cultural Attractions

Temples (Wats):

Wat Chedi Luang: Known for its massive chedi (stupa) that was once the tallest structure in ancient Chiang Mai. Participate in a monk chat to learn about Buddhism.

Wat Phra That Doi Suthep: Perched on a mountain overlooking the city, it's one of the most sacred temples in Northern Thailand. The climb up the 306-step staircase is both a spiritual and physical journey.

Museums:

Chiang Mai City Arts & Cultural Centre: Provides insights into the city's history, culture, and development.

Lanna Folklife Museum: Showcases traditional Northern Thai life through exhibits of clothing, tools, and art.

Festivals

Loy Krathong and Yi Peng: Participate in releasing floating baskets and sky lanterns during this enchanting festival in November. The sight of thousands of lanterns illuminating the sky is unforgettable.

Songkran (Thai New Year): Held in April, it's the world's biggest water fight. Join locals and tourists in splashing water to wash away the previous year's misfortunes.

Flower Festival: Held in February, featuring vibrant parades, floral displays, and beauty pageants celebrating the region's botanical beauty.

Nightlife

Riverside Bars: Enjoy live music and riverside views at venues like The Riverside Bar & Restaurant and Good View Bar.

Nightclubs: Places like Zoe in Yellow and Warm Up Cafe offer dance floors, DJs, and a lively atmosphere.

Jazz Bars: North Gate Jazz Co-Op is famous for its live jazz performances, attracting both locals and expats.

Night Markets:

Sunday Walking Street: A pedestrian-only market offering handicrafts, street food, and live performances.

Night Bazaar: Open every night, it's a shopper's paradise for souvenirs, clothing, and artwork.

Health and Wellness

Chiang Mai is also a hub for those seeking to improve their well-being. The city offers a holistic approach to health, blending traditional Thai practices with modern wellness trends.

Yoga and Meditation

Yoga Studios:

Wild Rose Yoga Studio: Offers various styles of yoga in a serene environment, including Hatha, Vinyasa, and Yin yoga.

The Yoga Tree: Provides classes and workshops for all levels, along with dance and movement therapies.

Mahasiddha Yoga: Focuses on spiritual growth through Tantra yoga and meditation.

Meditation Retreats:

Wat Umong: A 700-year-old temple in the forest offering meditation classes and retreats. The tranquil setting with tunnels and a large pond enhances the experience.

Wat Ram Poeng (Tapotaram): Known for its intensive Vipassana meditation courses ranging from 10 days to several weeks.

Doi Suthep Vipassana Meditation Center: Provides structured meditation courses with accommodation and meals.

Traditional Thai Massage and Spas

Thai Massage Schools:

Thai Massage Conservation Club: Offers affordable massages performed by students under supervision.

Old Medicine Hospital (ITM): Learn Thai massage techniques or enjoy treatments from experienced practitioners.

Spas:

Oasis Spa: Luxurious treatments in a tranquil setting, offering packages like aromatherapy, herbal steam baths, and body scrubs.

Fah Lanna Spa: An award-winning spa with a range of traditional and modern therapies.

Lila Thai Massage: Offers traditional massages while supporting the rehabilitation of former female inmates.

Healthy Eating

Organic Markets:

Jing Jai Farmers Market: Open on weekends, featuring organic produce, homemade goods, and artisanal products.

Chamcha Market: A community market promoting sustainable living and healthy eating.

Health Food Stores:

Rimping Supermarket: Stocks organic products, imported goods, and health supplements.

Oh Kajhu Organic Farm Restaurant: Serves dishes made from produce grown on their own farm.

Fitness and Outdoor Activities

Gyms and Fitness Centers:

GoGym: Offers modern equipment, classes, and personal training.

CrossFit Chiang Mai: For high-intensity workouts and a supportive community.

Muay Thai Training:

Lanna Muay Thai Boxing Camp: Offers training for all levels, from beginners to professional fighters.

Santai Muay Thai Gym: Known for its experienced trainers and authentic training methods.

Cycling and Hiking:

Doi Suthep Mountain: Popular for hiking and cycling, with trails suitable for various fitness levels.

Huay Tung Tao Lake: A scenic spot for jogging, cycling, and picnicking.

Mental Health and Wellness

Counseling Services:

Chiang Mai Counseling: Offers professional counseling and therapy services in English.

NCS Counseling Center: Provides support for individuals, couples, and families.

Wellness Retreats:

The Pavana Chiang Mai Resort: Offers detox programs, wellness retreats, and holistic healing therapies.

Museflower Retreat & Spa: A sanctuary focusing on mind-body-spirit balance through yoga, meditation, and spa treatments.

Transportation in Chiang Mai

Getting around Chiang Mai is convenient and affordable. You've got options galore catering to different preferences.

Public Transportation

#### Cranbrook Travel Guide | BEST Things to do in Cranbrook, BC
Welcome to our Cranbrook Travel Guide—your starting point for one of the East Kootenays’ most quietly rewarding small cities in BC. Cranbrook is one of those easy-to-love places that subtly surprises you. Set in British Columbia’s East Kootenay region, it makes a great base for outdoorsy days, scenic drives, and a little dose of culture and history between hikes. Think mountain views, wildlife-y trails, and a downtown that’s compact enough to explore without overplanning.

Nomadic Samuel, Audrey Bergner of That Backpacker, and their daughter Aurelia enjoy a peaceful family afternoon in one of Cranbrook’s shaded city parks. This easygoing stop between filming sessions shows the slower, family-friendly rhythm that makes the East Kootenays so enjoyable to explore.

And honestly? If you just drive through, Cranbrook might not wow you right away. That was my first impression too. But once we slowed down to explore the historic centre and wandered the surrounding parks and trails, the place really clicked. The vibe is calm, family-friendly, and refreshingly unhurried—the kind of destination where the to-do list feels doable instead of exhausting. What sealed it for us was the people: locals who left for a bit and came back because they loved and missed this corner of BC.

In this guide, we’ll focus on the best things to do in Cranbrook, prioritizing the highlights we experienced ourselves, then rounding it out with a few essential first-timer picks we didn’t get to. Expect a mix of heritage and local museums, easy nature escapes close to town, and simple add-ons just outside the city that can turn a quick stopover into a genuinely worthwhile mini-adventure.

This classic stone arch is one of Cranbrook’s simple, satisfying “you’ve arrived” moments. We loved how it sets the tone for a relaxed Kootenay basecamp with mountains, parks, and heritage close by. It’s a quick photo stop if you’re driving in on Hwy 3 or Hwy 95.

Destination Snapshot

TopicQuick AnswerLocationSoutheastern British Columbia, Canada (Kootenay Rockies region), 3½ hours southwest of Banff.Known ForSunshine & Scenery: Sunniest climate in BC; Rocky & Purcell mountain views. Heritage: Historic downtown & railway museum (vintage train cars); nearby Fort Steele 1890s gold rush town. Outdoors: Hiking/biking in a 2,000-ha Community Forest; wildlife at Elizabeth Lake; skiing in winter (Kimberley).Population~20,500 (city) – largest in the East Kootenays.VibeFriendly small-town feel with modern amenities. Welcoming to families (stroller-friendly trails, playgrounds) and outdoor enthusiasts. A “basecamp” city for Kootenay adventures.WeatherWarm, dry summers (highs ~27°C/81°F); cold, snowy winters (perfect for ski trips). Over 2,200 hours of sunshine annually (pack sunscreen!).Budget$$ – Moderate. Many parks and trails are free; dining and lodging are reasonably priced compared to tourist hotspots. Great value for the experiences.Best TimeSummer for hiking, biking, lakes, and attractions (all open). Fall for crisp weather and golden larch trees. Winter for skiing & snowy charm (nearby ski hills). Spring for birdwatching and fewer crowds.Getting ThereFly into Cranbrook (YXC) airport (10 minutes from downtown) or drive 4 hours from Calgary. A car is recommended to explore parks and day trips.Key EventsMay: Children’s Festival. June: Spirit of the Rockies festival. July 1: Canada Day festivities. August: Pro Rodeo. Year-round concerts at Key City Theatre.Nearby DestinationsKimberley (25 km north, Bavarian alpine town), Fernie (approx. 1 hour east, skiing), Waterton/Glacier National Parks (2–3 hours), USA border (1 hour south).

🧭 Quick Booking: Your Cranbrook Travel Essentials ✈️

If you’re planning your trip to the East Kootenays, these are the four bookings that make everything smoother — your base, adventures, transport, and freedom.

🎒 Your Travel Toolkit

🔖 What to Book💡 Why It’s Worth It🔗 Quick Link🎟️ Tours & ExperiencesSkip the logistics and explore Cranbrook, Kimberley & the Rockies with expert local guides👉 Browse Cranbrook & Kootenay Tours on Viator🏨 Hotels & StaysStay close to dining, lakes & heritage sites — perfect bases for day trips👉 Find Cranbrook Hotels on Booking.com🚗 Car RentalsFreedom to explore Fernie, Kimberley & hidden mountain lakes at your own pace👉 Compare Car Rentals on DiscoverCars🚌 Bus TicketsReliable routes for regional travel through the Kootenays and beyond👉 Check Bus Routes on BusBud

https://youtu.be/JV-ON-tbFJY
Things to Do in CRANBROOK, BC 🌲 Cranbook Travel Guide 🇨🇦 Is This The Best Family Trip in British Columbia? From our YouTube channel Samuel & Audrey

Things To Do in Cranbrook, British Columbia (From Our Travel Video)

(These are the experiences we personally enjoyed during our visit – complete with our own tips and impressions. We traveled as a family with a baby, so you’ll notice many of these are family-friendly. We’ve listed activities first, followed by food & drink spots.)

The Kootenay Trout Hatchery was one of our favorite easy, family-friendly stops near Cranbrook. It’s a quick, free visit where you can learn about local fish species and see the rearing ponds up close—an ideal add-on if you’re already exploring the East Kootenays.

Kootenay Trout Hatchery (Freshwater Fisheries Visitor Centre)

Why go: 

To learn about local fish species and even feed giant trout! We kicked off our Cranbrook trip with a short drive to the Kootenay Trout Hatchery – about 20 minutes outside the city. It’s a one-of-a-kind, kid-friendly experience where you can observe every stage of a trout’s life cycle. Outside, we peered into rearing ponds teeming with huge trout and had fun tossing fish feed (bring a few quarters for fish food). Inside the visitor center, you'll find informational displays. Our baby was wide-eyed at the tanks. And Audrey and I learned a lot from the interactive displays.

These rainbow trout were one of our favourite close-up moments at the Kootenay Trout Hatchery near Cranbrook. It’s a simple, surprisingly fun stop where you can see the fish up close and get a quick dose of local freshwater education whilst having a chance to feed them.

Practical info: 

Open 9am–3pm daily, with self-guided tours year-round. Admission is free (donations welcome). In summer, outreach staff offer educational programs, and kids can try catch-and-release fishing in the stocked pond (rods available May–Aug). Budget about 30 minutes to 1 hour here – we spent less than an hour ourselves and that was plenty with a baby. It’s an easy add-on if you’re heading to Fort Steele.

Who it’s for: 

Families, nature lovers, anyone curious about fish or looking for a fun free activity. Kids especially love feeding the trout – our little one was giggling at the splashes. 

Audrey Bergner of That Backpacker pauses to take in the quiet beauty of Elizabeth Lake Bird Sanctuary in Cranbrook. The sanctuary’s flat paths and peaceful marsh views make it ideal for an unhurried stroll or gentle wildlife-watching stop right in town.

Elizabeth Lake Bird Sanctuary

Why go: 

Birdwatching and tranquil nature walks right at the city’s edge. Elizabeth Lake is a 5.9-hectare wetland sanctuary on Cranbrook’s west end. And more importantly it was our first stop in town. After a long drive, the gentle walking trail here was the perfect introduction – we followed a level path through willow bushes leading to the lake. We immediately felt far from the city in this peaceful spot. If you enjoy wildlife, this is a must-do: we spotted ducks paddling in the reeds and were amazed by how many deer wandered out of the woods to graze, utterly unbothered by our presence. Birders can look for herons, eagles, painted turtles, and more (over 100 species have been recorded). There are benches and picnic tables and lookout points along the trail. So we took a break to let our baby practice crawling.

Nomadic Samuel heads up to the elevated wooden lookout at Elizabeth Lake Bird Sanctuary with baby Aurelia riding along in the hiking backpack. This quiet viewpoint is an easy stop on the sanctuary’s loop and offers wide-open wetland and mountain views perfect for families.

Practical info: 

The trail is flat and baby backpack-friendly (we managed easily with ours). A full loop around the lake is only a couple of kilometers. Plan 30–60 minutes for a stroll. Tack on more time to relax and watch wildlife. Best times are early morning or dusk when animals are most active – we visited in the late afternoon and saw plenty of deer in broad daylight. There’s a tiny parking area by the trailhead. Entry is free. One thing to note: no boating or swimming allowed, to protect the habitat This sanctuary is all about enjoying nature quietly. It’s great for families (Aurelia loved the fresh air) or anyone needing a peaceful walk after hours in the car.

Who it’s for: 

Birdwatchers, photographers, families with young kids, and travelers looking to stretch their legs in nature. Elizabeth Lake showcases Cranbrook’s wild side literally within city limits – a rare find and totally free.

Nomadic Samuel explores the Sylvan Lake section of Cranbrook Community Forest with baby Aurelia in tow, enjoying one of the city’s most accessible nature escapes. The blend of open meadows and forested slopes makes this an ideal family-friendly hike close to town.

Cranbrook Community Forest (Sylvan Lake Trail)

Why go: 

To get a taste of the Kootenay outdoors without straying far from town. Cranbrook Community Forest is a massive 2,000-hectare forested area on the city’s edge, laced with over 100 km of trails for hiking and biking. We love hiking as family, so we headed here in the afternoon. The trail network is extensive. But we chose the path toward Sylvan Lake – a small pond tucked in the woods about 3 km in. The hike was easy and shaded by towering pines and firs. Along the way, we noticed the forest’s health with countless pine seedlings lining the trail (a sign of good regeneration, which even our baby seemed to appreciate, cooing “oh ee oh ee” from her carrier!).

Reaching “Sylvan Lake” was a bit anticlimactic – since we visited in late summer, the lake was more of desert - completely dry at that time. So don’t expect a swim! Still, the journey was worth it. We enjoyed the serenity of the forest, the scent of sun-warmed pine needles, and the fact we had the trail practically to ourselves (we saw only a few folks on our hike). We took a rest on a log, gave our wee little one a snack, and soaked in the quiet atmosphere.

Audrey Bergner wanders beneath towering pines on the Sylvan Lake Trail, one of the signature routes in Cranbrook Community Forest. The shaded paths and gentle grades make this a great choice for a relaxed hike with plenty of opportunities to soak in the scenery.

Practical info: 

The Community Forest has multiple access points; a parking lot and trail signboard. The trail to Sylvan Lake and back was roughly 5 km round-trip, which took us about 1.5 hours at a leisurely pace. Best time to go is morning or early evening for cooler temps and better chances of wildlife (deer and birds are common). The forest is open year-round – popular for snowshoeing and cross-country skiing in winter. Cost: Free

Who it’s for: 

Everyone. Families. Hikers and mountain bikers of all abilities – with trails ranging from easy interpretive loops to slighlty uphill climbs. Families can certainly enjoy short walks here too (we saw local families biking with kids near the trailhead). If you want a quick nature escape or a panoramic view without driving far, the Community Forest is ideal. 

Nomadic Samuel and baby Aurelia explore one of the restored train cars at the Cranbrook History Centre, offering a glimpse into early rail life in the Kootenays. The museum’s collection of heritage coaches and cabooses makes it an engaging stop for families and history lovers alike.

Cranbrook History Centre (Railway Museum & Historic Trains)

Why go: 

To step back in time and experience the golden age of Canadian rail travel. The Cranbrook History Centre was a highlight of our trip – it’s both a museum of local history and home to a remarkable collection of heritage railway cars. In fact, this museum has a National Historic designation for preserving the glory days of the railroad, including elaborately restored 1920s Canadian Pacific train cars If you have any interest in history, trains, or antiques, you’ll be in heaven here. We certainly were!

The main attraction is touring the vintage railcars. You can only visit the inside of these trains on a guided tour (for safety and preservation). With our infant daughter in tow, we opted for the shortest option – the “so called toddler tour,” a 20-minute guided walkthrough of a few cars. It was perfect for us. In that brief time, a knowledgeable guide led us through the luxurious 1929 Trans Canada Limited sleeper car and dining car, pointing out details like the ornate inlaid wood paneling and plush period furnishings. We could easily imagine the elite travelers of the 1930s moving between these cars, dining in style as mountains rolled past. Our baby Aurelia loved the gentle rocking sensation when walking through the train – and we appreciated getting through the highlights before she got squirmy.

This beautifully restored dining car at the Cranbrook History Centre offers a glimpse into the golden age of passenger rail travel. With polished wood, soft lighting, and carefully set tables, it’s one of the museum’s standout interiors and a highlight for visitors interested in train history.

If you have more time (and older kids or no kids), the Centre offers longer tours ranging from 45 minutes to 2 hours that cover more railcars and in-depth history. Beyond the trains, the museum’s static exhibits are worth a look – we browsed displays on local Ktunaxa First Nation culture and the pioneering days of Cranbrook. Don’t miss the impressive model railway downstairs: an elaborate diorama of the region’s rail lines that volunteers keep running. We saw mini trains chugging through tiny mountain towns – a delight for kids and adults alike.

Practical info: 

Located downtown, the History Centre is open year-round (hours vary by season). Admission: You can enter the museum galleries for a fee (around $16 for two adults, less for kids/seniors – verify current rates). The railcar tours are an additional cost, typically booked as timed guided tours (consider reserving your spot during peak summer season). If you have a toddler or baby, ask for the abbreviated tour like we did. The staff were very accommodating.

Who it’s for: 

History buffs, train enthusiasts, and families. Kids who love Thomas the Tank Engine will be thrilled to see real life “coaches” and engines. This is one of Cranbrook’s signature attractions – a nod to how the railway put this town on the map – and absolutely worth the stop.

The former 1929 City of Cranbrook Fire Hall has been transformed into Fire Hall Kitchen & Tap, a beloved gastropub that keeps the building’s heritage charm alive. It’s a popular stop on the downtown self-guided walking tour and a great place to grab burgers, beers, and local atmosphere.

Historic Cranbrook Walk Downtown

Why Go:

We had a slightly negative impression of Cranbrook from the highway. But the historic downtown is where the city’s personality really lives. I personally did a solo wander while Audrey and baby Aurelia relaxed at the park. This was the moment Cranbrook really clicked for me. The heritage buildings, small-town charm, and especially the murals add a surprising dose of colour and character that you don’t see from the commercial strip.

This striking locomotive mural is one of the standout pieces along Cranbrook’s heritage walking tour, paying tribute to the city’s legacy as a key railway hub in the Kootenays. The detailed artwork brings historic rail travel to life as you explore the downtown core.

Practical Info:

Best time of day: Morning for quiet streets and clean photo light, or golden hour for warmer tones on brick buildings and mural shots.

How long to budget: 45–90 minutes for an easy loop; longer if you stop for coffee or pop into shops.

Cost feel: Free (unless you snack/shop).

Family notes: Great as a split-plan option—one of you can do a quick downtown stroll while the other does park time.

Who It’s For:

First-timers who want the “real” Cranbrook vibe, photographers, mural lovers, and anyone who enjoys low-effort, high-reward wandering. Also perfect for travelers who want a calm, walkable activity between bigger outdoor adventures.

Audrey Bergner takes baby Aurelia for a peaceful lakeside stroll at Idlewild Park, a favourite local spot for relaxed walks and family outings. With its calm water, shaded pathways, and easy access, the park is a great choice for visitors looking for a gentle nature break in Cranbrook.

Idlewild Park

Why Go:

This was the most tranquil and relaxing of all our outdoor stops in Cranbrook. The vibe is simply calm, peaceful, and wonderfully family-friendly. Audrey and I loved that it felt like an easy, everyday local park—exactly the kind of place that makes you understand why people enjoy living here. It also paired beautifully with traveling with a baby: open space, a calm pace, and lots of room to breathe.

Idlewild Park reveals its quiet beauty from above, with forested slopes, calm water, and a covered dock tucked along the shoreline. This high vantage point highlights why the park is a favourite spot for relaxed walks, stroller-friendly loops, and easy nature time close to downtown Cranbrook.

Practical Info:

Best time of day: Late morning or early evening for the softest light and calmest atmosphere.

How long to budget: 45–60 minutes for a relaxing visit; 1.0–1.5 hours if you add a picnic and playground time.

Cost feel: Free.

On-the-ground feel from our visit: We came geared for baby-friendly park time—picnic blanket for crawling, and it’s an easy place to slow the pace when you’re traveling with little ones.

Accessibility/family ease: We noticed how much of our Cranbrook visit was naturally stroller-friendly, and Idlewild fits that low-stress, family outing rhythm.

Bonus pairing: This park connects nicely with the broader green-space vibe in town and can be a gentle warm-up before a Community Forest walk.

Who It’s For:

Families, anyone traveling with a baby or toddler, slow-travelers, and those who want a peaceful reset between hikes. If your trip goal is “small city, big breathing room,” this is one of the best places to feel that.

Fort Steele’s striking 1898 façade makes a beautiful backdrop for a family wander, with Audrey and baby Aurelia exploring the historic town at an easy stroller pace. The wide paths and open grounds make this one of the most relaxed heritage sites to visit with little ones in tow.

Day Trip: Fort Steele Heritage Town

Why go: 

To experience a living history town from the 1890s gold rush era. Fort Steele is an open-air heritage park just a 10-20 minute drive northeast of Cranbrook, and it ended up being one of our favorite excursions. Walking into Fort Steele is like stepping into an old Wild West movie set – except everything is real and restored. There are more than 60 heritage buildings (homes, shops, a schoolhouse, blacksmith, etc.) populated with costumed interpreters who bring pioneer life to life. We saw horse-drawn wagons rolling down the dirt street, townsfolk in period dress, and even farm animals (the site keeps heritage breeds like Clydesdale horses, sheep, and chickens).

We spent a half-day exploring here. A few highlights from our visit: we watched an old-fashioned blacksmithing demo and peeked into shops like the general store and bakery (yes, they sell fresh baked goods – the cinnamon buns smelled heavenly). As a history nerd, I loved the museum in the old hotel, which showcased artifacts and had an area where you can dress up in Victorian costumes. Perhaps the most memorable moment was ducking into the Victorian-era “Dentist Office” which advertised “Painless Dentistry” – inside, the antique dental tools looked anything but painless, giving us a good laugh (and some chills).

Fort Steele is very family-friendly. Kids can run around the wide-open grounds, interact with gentle farm animals, and learn history in a fun way. Aurelia enjoyed the sights and sounds from her stroller – though she was too young to participate.

This distinctive wooden tower is one of Fort Steele Heritage Town’s most recognizable structures, offering a glimpse into the architectural style of frontier-era British Columbia. Set above sweeping views of forest and mountains, it captures the quiet, wide-open feel of the region.

Practical info: 

Open year-round, with peak programming in summer (heritage interpreters, shows, rides) and reduced hours/activities in winter (verify schedule on their website). Admission is required (approx. $17.95 adult, $12.95 child; family passes available – verify current pricing). Wagon rides and other special activities may cost a few extra dollars. Time needed: At least 3–4 hours to experience most of the buildings, possibly a full day if you watch all the demos and tours. There is a café on-site for lunch (plus the bakery and an ice cream shop in summer), so you won’t go hungry.

Who it’s for: 

All ages, but especially families and history enthusiasts. This is a must-do day trip if you’re in Cranbrook. It’s fun, educational, and provides great context about the region’s frontier past. 

Samuel couldn’t resist trying for a strike at Encore Brewing Co., a fun local hangout that pairs craft beer with bowling, arcade games, and pizza. The mix of retro lighting and lively atmosphere makes it an easy spot to unwind after a day of exploring Cranbrook.

Encore Brewing Co. – Beer, Bowling, Pizza & Arcade

Why go: 

For a dose of pure fun in the evening. Craft beer and pizza plus bowling under one roof. We hadn’t planned on going bowling in Cranbrook (it wasn’t on our radar at all), but a happy coincidence changed that. While having lunch at the Fire Hall pub, we noticed a poster about Encore Brewing in the bathroom (of all places!) advertising a special pizza + bowling special. Bowling and pizza? Say no more! We decided on the spot to make it our “date night” activity – and we’re so glad we did.

Encore Brewing Co. turned out to be the place to be on at night in Cranbrook. It’s essentially a modern entertainment center meets restaurant meets brewpub. The vibe is fantastic: imagine locals sipping house-made ales and families and friends cheering strikes in the bowling lanes, and the sounds of arcade games pinging in the background. We grabbed a lane and waited for our pizza to arrive. While we bowled (rusty skills and all – neither of us had bowled in like 15 years), we also enjoyed a tasty pizza delivered right to our lane and I washed it down with one of Encore’s beers. Pizza, beer, and bowling – does it get any better? Halfway through our game, our baby fell asleep in her stroller. This gave us a rare chance to feel like kids ourselves.

Encore’s bowling alley has a fun, welcoming vibe, and this close-up look at the marbled blue bowling balls sets the scene before a game even gets started. The warm lights and soft reflections along the polished lanes make it an easy place to unwind.

Practical info: 

Encore Brewing is located in downtown Cranbrook. It’s open in the afternoons and evenings. Bowling costs around $40 per hour for a lane (up to 6 people), plus shoe rentals – pretty reasonable when split with a group. They often have specials on certain nights (like trivia nights, etc.). The beer selection features their own brews (including the pale ale) and the food menu (of course) includes pizza. 

Who it’s for: 

Honestly, anyone who enjoys fun. It’s a perfect rainy day or evening activity. Even if you’re not a big drinker or a serious bowler, the combination of activities makes for a memorable night out. Encore is “where adults can be kids again”.

Samuel couldn’t resist ordering one of Fire Hall Kitchen & Tap’s signature gourmet burgers, served inside Cranbrook’s beautifully restored 1929 fire hall. The playful presentation and hearty stack make it a must-try stop for hungry travelers exploring downtown.

Fire Hall Kitchen & Tap (Heritage Gastropub)

Why go: 

To enjoy craft beer and epic burgers in a historic fire station. The Fire Hall Kitchen & Tap quickly became our favorite dining spot in Cranbrook. Housed in the city’s old fire hall (built in 1929), this gastropub oozes character – from the red brick facade to many original features. Talk about dining with a sense of place! We stopped by for lunch and were immediately impressed by the welcoming, family-friendly atmosphere. Locals were hanging out on the patio and digging into towering plates of burgers.

The menu is all about elevated pub food with Kootenay flair. We couldn’t resist trying their signature burgers. And wow – they were freakin' huge and delicious. I had a “loaded” Burger which came with two patties, goat cheese, avocado, and bacon – it was so massive I could barely fit it in my mouth. Every bite was juicy and flavorful (totally worth feeling like I needed a nap afterward!). Audrey tried another signature burger – topped with fried brie cheese, chutney salsa, and truffle mayo – an unusual combo that she absolutely loved. I washed it down with a pint of Fernie Brewing Company on tap. Despite the hearty portions, we somehow made room for a slice of key lime pie to share – sweet, tart, tangy and fresh, a perfect finale.

Beyond the food, the Fire Hall’s vibe is on point. It manages to be both a family-friendly pub and a craft beer haven. We visited at lunch with our baby and felt totally comfortable. The staff were super friendly – in fact, our server shared that he had moved back to Cranbrook after years away because he missed the community, which says a lot about the town. 

The bar at Fire Hall Kitchen & Tap is one of the most inviting spaces in Cranbrook, blending heritage fire hall features with a modern craft-beer lineup. With its bright tile, warm wood tones, and sprawling chalkboard menu, it’s a great spot to sample local taps.

Practical info: 

Located in downtown Cranbrook on 11th Ave it's easy to find. They’re open for both lunch and dinner. Prices are reasonable for the quality/portion. They have a great local BC beer selection. We didn’t need a reservation at lunchtime visiting slightly offseason. Best time to go: Lunch for a relaxed meal. The patio is lovely in summer and early fall.

Who it’s for: 

Everyone – couples, families, solo travelers, you name it. If you’re a craft beer lover or burger enthusiast, you’ll especially appreciate it. The Fire Hall delivers. It’s one of those places that makes you feel like a temporary local. 

This hearty Pad Thai from Family Thai Restaurant hits all the right notes—tangy, savoury, and just the right amount of crunch from the peanuts and sprouts. It’s a generous plate ideal for a post-exploring meal, served with fresh toppings you can mix to taste.

Family Thai Restaurant (Authentic Thai Cuisine)

Why go: 

A taste of Thailand in the Kootenays. After days of typical road trip food, we were craving something different – and having lived in Thailand for a while, Audrey and I have a soft spot for Thai cuisine. To our delight, Cranbrook has Family Thai Restaurant, a cozy little spot that serves up very authentic Thai flavors. It was our first dinner in town and hit the spot.

This is a family-run restaurant (as the name suggests), and when we walked in, we were greeted with warm smiles and the delicious aroma of stir-fry and spices. The menu covered all the Thai classics. We went all-out and ordered two of our favorites: Pad Thai and a Green Coconut Curry (Thai spicy level). The pad thai came out piping hot, with that perfect balance of tangy tamarind and peanut sweetness – it took us right back to the street stalls of Chiang Mai. The portion was generous, and they didn’t shy away from authenticity. But the real adventure was the green curry. We asked for it spicy and oh boy, they delivered – it was fiery! Rich, coconut-creamy, loaded with meat, eggplant, and basil, and a slow heat that had Audrey sniffing and reaching for water. “Thai spicy” in Cranbrook is no joke – which made us incredibly happy.

This fragrant green coconut curry at Family Thai Restaurant is comfort in a bowl—creamy, aromatic, and layered with tender meat, bamboo shoots, and bright herbs. Paired with jasmine rice, it’s a satisfying choice for anyone craving authentic Thai flavours in Cranbrook.

Practical info: 

Family Thai is located on Cranbrook Street North (the main drag). It’s a modest, unassuming place with simple décor and just a few tables – cozy ambiance and very clean. They do a brisk takeout business too. Prices are very reasonable and portions were ample. 

Who it’s for: 

Anyone who loves Thai food or just wants a break from burgers and pub grub. Vegetarians will find options (tofu can be substituted in many dishes). It’s family-friendly. After days of Canadian cuisine, our taste buds were thrilled to have that burst of lemongrass, chili, and lime. For Audrey and I, an unexpected gem in Cranbrook.

We visited St. Eugene Mission Resort at golden hour, when the gardens glow and the historic stone building looks especially grand. Audrey and baby Aurelia enjoyed a peaceful walk along the flower-lined paths. It’s a beautiful stop for travellers interested in history, nature, and scenic photography.

St. Eugene Mission Resort (Historic Hotel & Golf Course)

Why go: 

To stay (or play) at a beautifully transformed historic site – equal parts luxury resort, golf destination, and cultural experience. Audrey and I ended our Cranbrook visit with a night at St. Eugene Resort, and it was a memorable capstone to the trip. This magnificent Spanish-colonial style building was once the St. Eugene Mission School (a residential school for Indigenous children, operating until 1970). Rather than let the place languish, the Ktunaxa Nation reclaimed and restored it into a upscale resort – turning a dark chapter of history into a positive, healing space . As a guest, you’re not only enjoying a lovely hotel, but also witnessing a story of resilience and reconciliation. A quote from Elder Mary Paul hangs in the lobby: “Since it was within the St. Eugene Mission School that the culture of the Kootenay Indian was taken away, it should be within that building that it is returned.” – and you really feel that spirit of reclamation throughout the property.

On arrival, we were struck by the grandeur of the place set against the Rocky Mountains. The rooms were comfortable and historic. We took an evening stroll around the grounds: there’s a stunning 18-hole golf course (one of 7 championship courses in the area), and the sunset over the greens with the Mission building in the background was photo-worthy. Even if you don’t golf, the grounds are worth walking. You can also visit the small on-site Interpretive Centre which shares the history of the Mission school and the Ktunaxa people.

For dinner and entertainment, St. Eugene has several options: we dined at one of the golf restaurant which served local fare. You can also try your luck at the Casino of the Rockies attached to the resort. The resort also features an outdoor pool and hot tubs (open seasonally) and a spa, which unfortunately we didn’t have time to use. Our biggest regret was no fully enjoying all of the amenities.

Our stay at St. Eugene Mission Resort included a bright and comfortable room with two inviting beds and warm wood accents. The seating nook by the window quickly became our spot to unwind after sightseeing around Cranbrook. A restful base for exploring the region.

➡️ Check St. Eugene rates & availability on Booking.com

Practical info: 

St. Eugene Resort is about a 10 to 20 minute drive north of Cranbrook (and just a few minutes from the airport). Accommodations: It’s a popular wedding and golf resort, so book ahead especially in summer. Rooms range from around $150–$250+ CAD per night depending on season and room type – a fair price for the quality and setting. Even if you don’t stay overnight, visitors are welcome to come dine at the restaurants or play the casino and golf course (tee times for the public are available). 

Who it’s for: 

Couples seeking a unique stay, golfers, history and culture enthusiasts, and anyone looking for a tranquil retreat. Families are welcome too (they have spacious rooms and the pool to entertain kids). 

🏨 Where to Stay in Cranbrook (Our Top Hotel Picks)

⭐️ Quick Booking Box: Cranbrook Hotels (Compare Rates)

PickBest forVibeBooking link🏆🏨 Top PickFirst-timers who want an easy, reliable baseComfortable “no-regrets” stayCompare stays at Prestige Rocky Mountain Resort Cranbrook (Booking.com)💎🏰 Luxury Stay“Make it a treat” nights (views + resort feel)Historic resort energyCheck rates at St. Eugene Golf Resort & Casino (Booking.com)🏙️🛏️ Mid-RangeDowntown convenience + walkable vibesHistoric building, simple + centralSee availability at The Baker Hotel (Booking.com)💰🛣️ BudgetRoad-trippers + practical over fancySimple, wallet-friendlyFind deals at Days Inn by Wyndham Cranbrook (Booking.com)

🔎🏨 Want to browse all options instead?

Compare all Cranbrook hotels on Booking.com

Samuel capped off the afternoon with a crisp Fernie Brewing Company pint at Fire Hall Kitchen & Tap, one of Cranbrook’s most welcoming gastropubs. The historic setting and cold craft beer made for the perfect post-exploration pause. A relaxed moment in a lively local favourite

🎟️ Book a Guided Tour or Experience

If you want to explore beyond simple sightseeing, a guided experience lets you hit the region’s best without planning stress.

✨ Great options near Cranbrook include:⛰️ Guided East Kootenay outdoor tours🏞️ Wildlife & scenic drives🚴‍♀️ Bike + nature interpretive tours🍷 Culinary or heritage experiences

✅ See top-rated Cranbrook & East Kootenay tours on Viator

More Amazing Things to Do in Cranbrook (We Didn’t Cover in the Video)

(Cranbrook and its surrounds have plenty more to offer than what we personally managed to see. Here are some additional top attractions and activities to round out your itinerary – including iconic sights, outdoor adventures, and local favorites that we plan to check out on our next visit!)

Quick Picks for First-Timers

Key City Theatre

Why it’s worth it: A fun, low-effort evening plan if you want culture without another hike.

Who it suits: Couples, rainy-day travelers, anyone needing a rest day.

Best time of day: Evening.

How long to budget: 2–3 hours.

Cost feel: $$.

Verify before publishing: Show calendar, ticket pricing.

Outdoors + Parks (Close to Town)

Eager Hill Viewpoint (Community Forest)

Why it’s worth it: A more rewarding viewpoint-focused alternative to longer forest wanders.

Who it suits: Hikers who want a short but “worth it” climb.

Best time of day: Morning or sunset.

How long to budget: 1.5–2.5 hours.

Cost feel: Free.

Verify before publishing: Trail conditions, route map.

Family-Friendly Bonus Stops

Jimsmith Lake Provincial Park

Why it’s worth it: Quick swim/picnic option on warm days.

Who it suits: Families, summer visitors.

Best time of day: Afternoon.

How long to budget: 1–3 hours.

Cost feel: Free (day-use).

Verify before publishing: Seasonal water conditions, facilities.

Easy Day Trips Near Cranbrook

Kimberley Platzl

Why it’s worth it: A quirky, walkable, food-and-shops break from Cranbrook’s outdoors-heavy rhythm.

Who it suits: First-timers, families, anyone wanting a cute small-town vibe.

Best time of day: Afternoon into dinner.

How long to budget: 3–5 hours.

Cost feel: $–$$.

Marysville Falls

Why it’s worth it: High payoff for minimal effort.

Who it suits: Everyone.

Best time of day: Morning.

How long to budget: 20–40 minutes.

Cost feel: Free.

Wasa Lake (Warm-Weather Play)

Why it’s worth it: One of the easiest “lake day” upgrades in the East Kootenays.

Who it suits: Summer travelers, families.

Best time of day: Midday.

How long to budget: Half day.

Cost feel: Free (day-use).

Verify before publishing: Seasonal access, water temps.

Big Adventure Pick

Fisher Peak (Expert-Level)

Why it’s worth it: A true local brag-worthy summit day.

Who it suits: Experienced hikers only.

Best time of day: Early start.

How long to budget: Full day.

Cost feel: Free.

Verify before publishing: Route conditions, glacier/snow status, trailhead access.

🏨 Where to Stay in Cranbrook (Compare Best Rates) 🛏️

Choosing your base can set the tone for your whole visit — whether it’s downtown convenience or scenic stays near the mountains.

🚶 Staying downtown → 🍽️ Close to dining, museums, and the heritage walk

🦆 Near Elizabeth Lake → 🌿 Tranquil nature + stroller-friendly walks

🏔️ Near ski areas / Community Forest → 🥾 Best for outdoor adventurers

👉 Compare Hotels in Cranbrook on Booking.com

💡 Tip: Cranbrook fills up quickly in summer and event weekends — book ahead and use free cancellation if your plans change.

Fast Planning Grid

ExperienceBest ForTime NeededCost FeelSeasonWhy It’s Worth ItDowntown Heritage WalkFirst-timers1–1.5 hrsFreeYear-roundThe “real” Cranbrook vibeIdlewild ParkFamilies1 hrFreeSpring–FallEasy, calm outdoor resetEager HillShort-view hikes2 hrsFreeSpring–FallQuick reward elevationKey City TheatreEvening plans2–3 hrs$$Year-roundGreat rainy-day upgradeKimberley PlatzlDay-trippers3–5 hrs$–$$Year-roundCute alpine town energyMarysville FallsQuick nature stop30 minFreeBest spring/summerHuge reward for little effortWasa LakeSwim/picnicHalf dayFreeSummerClassic Kootenay lake dayFisher PeakAdvanced hikersFull dayFreeSummerLegendary local summit

#### Cranbrook vs Fernie: Which East Kootenay Town Is Better? (Pros, Cons + Our Verdict)
We road-tripped into the East Kootenays from southern Alberta in early September—peak patio season, late-summer light, and that magical window where it still feels like summer but the crowds have wandered back to work/school. We had the baby with us, a stroller, a backpack carrier, and exactly the kind of optimism that makes you say things like “Sure, we can squeeze in one more stop.”

Our family exploring Fernie and Cranbrook, British Columbia—two unforgettable East Kootenay towns with totally different personalities. Fernie offers dramatic mountain scenery, while Cranbrook surprises with quirky venues, food, and heritage charm.

If you’re trying to choose between Cranbrook and Fernie, here’s the short version: Fernie is the mountain town you put on a postcard. Cranbrook is the practical hub that keeps surprising you—especially if you’re traveling as a family or you like variety. We loved both, for different reasons, and the “better” pick depends on what you’re chasing: ski resort energy, mellow lakeside stroller loops, brewery patios, museums, or a basecamp that makes day trips easy.

https://youtu.be/RoRAhuPKiRE
First up on our BC road trip was Fernie! Please check out this video and then the Cranbrook one below to help you decide which town to visit.

https://youtu.be/JV-ON-tbFJY
And here is our Cranbrook travel guide on Samuel and Audrey YouTube channel. I think you'll notice that both places we visited on our BC road trip are fascinating.

Quick Verdict table 

If your trip priority is…PickWhy it wins (in plain English)A classic mountain-town “wow” factorFernieThe scenery hits fast, the town feels purpose-built for outdoors, and it’s easy to have a full trip without leaving town.A flexible base with more everyday servicesCranbrookIt’s the region’s hub: great for families, road-trippers, and anyone who wants variety without overplanning.Ski-first weekend energyFernieResort-town identity and big mountain vibes.Shoulder-season value + lower stressCranbrookEasier logistics, lots of space, and a “stack short wins” itinerary style.Easy nature + short activities with a baby/kidsTieFernie has simple in-town loops; Cranbrook has wetlands, parks, and easy stops that layer beautifully.The best overall tripBothCranbrook for variety + convenience, Fernie for the epic finale.If you can only visit oneFernieIt’s simply more epic: stronger scenery and the full mountain-town feel.

🧭 Quick Booking: Your Cranbrook Travel Essentials ✈️

If you’re planning your trip to the East Kootenays, these are the four bookings that make everything smoother — your base, adventures, transport, and freedom.

🎒 Your Travel Toolkit

🔖 What to Book💡 Why It’s Worth It🔗 Quick Link🎟️ Tours & ExperiencesSkip the logistics and explore Cranbrook, Kimberley & the Rockies with expert local guides👉 Browse Cranbrook & Kootenay Tours on Viator🏨 Hotels & StaysStay close to dining, lakes & heritage sites — perfect bases for day trips👉 Find Cranbrook Hotels on Booking.com🚗 Car RentalsFreedom to explore Fernie, Kimberley & hidden mountain lakes at your own pace👉 Compare Car Rentals on DiscoverCars🚌 Bus TicketsReliable routes for regional travel through the Kootenays and beyond👉 Check Bus Routes on BusBud

Fernie vs Cranbrook in one frame: a Fernie Brewing Company pint after a day outside, versus Encore Brewing in Cranbrook where the beer comes with bowling lanes and pizza—proof that the East Kootenays can do both “mountain-town chill” and “quirky night out.”

🧭 Quick Booking: Your Fernie Travel Essentials ✈️

If you’re planning your trip to the East Kootenays, these are the four bookings that make everything smoother — your base, adventures, transport, and freedom.

🎒 Your Travel Toolkit

🔖 What to Book💡 Why It’s Worth It🔗 Quick Link🎟️ Tours & ExperiencesSkip the logistics and explore Fernie + the Elk Valley with local guides (easy wins when weather turns or time is tight)👉 Browse Fernie & Elk Valley tours on Viator🏨 Hotels & StaysLock in the right base (walkable town vs. ski hill vs. highway convenience) — especially on weekends + peak season👉 Find Fernie hotels on Booking.com🚗 Car RentalsThe easiest way to do day trips, chase viewpoints, and keep your schedule flexible👉 Compare car rentals for Fernie on DiscoverCars (pick in up Cranbrook)🚌 Bus TicketsIf you’re piecing together regional transport, checking schedules early saves headaches👉 Check bus routes to/from Fernie on Busbud

The Vibe Test: Cranbrook or Fernie… which one are you, spiritually?

Answer honestly. No one’s watching.

1) Your ideal morning beverage is…

Your answerYou are…Pick“Coffee I can drink while walking somewhere pretty.”A Scenic WandererFernie“Coffee I can drink while planning three stops and a nap window.”A Tactical OptimistCranbrook“Coffee… but make it a full breakfast sandwich the size of a throw pillow.”A Fuel-First HumanFernie (Big Bang Bagels energy)

2) Your vacation pace is best described as…

Your answerTranslationPick“One iconic thing per day, then a patio.”You’re emotionally healthyFernie“Four small things per day, then a weird activity we didn’t expect.”You’re a road-trip aficionadoCranbrook“We’ll see how the baby feels.”You now live by tiny-dictator lawTie

Fernie vs Cranbrook, side by side: our Island Lake Lodge hike near Fernie delivers dense forest, mountain-town energy, and an “easy wow” feeling, while Cranbrook’s Elizabeth Lake walk is wide-open, stroller-friendly-adjacent, and quietly scenic for a relaxed family wander.

3) Your relationship with hiking is…

Your answerWhat that meansPick“I want maximum scenery for minimum suffering.”You’re efficientFernie“I like trails, but I also like variety and short walks.”You’re balancedCranbrook“I’m carrying a baby and calling it ‘strength training.’”You’re usTie 

4) Your ideal ‘reward’ after outdoors is…

Your answerPickBecause…“A brewery patio and the smug glow of accomplishment.”FerniePost-hike pint culture. “A brewery… with bowling… because why not.”CranbrookEncore Brewing is peak “not on the bingo card.”“A meal so good we talk about it later.”FernieIsland Lake Lodge / Bear Bistro energy. 

5) Your ideal ‘unexpected highlight’ is…

Your answerPickBecause…“A calm lake loop with stroller-friendly vibes and ridiculous reflections behind a grocery store. What?”FernieMaiden Lake is that easy win. “Feeding fish at a hatchery and feeling oddly delighted about it.”CranbrookTrout hatchery is quietly awesome. “A historic town where I learn things AND make jokes about medieval dentistry.”CranbrookFort Steele delivers.

Fernie vs Cranbrook in one glance: Fernie City Hall (left) faces off with Cranbrook’s historic Fire Hall building (right) in the East Kootenays, British Columbia—an easy visual for comparing small-town character, downtown sights, and photo-worthy landmarks.

Cranbrook vs Fernie snapshot: vibes, logistics, and who each place suits

CategoryCranbrookFernieOverall vibeHub city / basecampMountain town / destinationFirst impressionCommercial edges, then it gets better fastCharming almost immediatelyBest forFamilies, variety seekers, road trips, budget travelersSki trips, outdoor weekends, mountain-town seekersGetting aroundCar-friendly, spreads outWalkable core + short drivesOutdoorsTrails + wetlands + easy day tripsIn-town trails + waterfall hikes + resort accessFood sceneSolid and surprising (and more than you’d expect)Strong “treat yourself after the hike” energyOur “signature memory”Trout hatchery + deer at the wetlands + brewery bowlingMaiden Lake reflections + Fairy Creek Falls + Island Lake Lodge magic

The decision matrix: choose your best match (no overthinking required)

Give yourself 10 points to “spend.” Put them where you care most. Whichever column ends up higher is your winner.

QuestionCranbrook points if you say “YES”Fernie points if you say “YES”We want a base with lots of services and easy logistics+2We want the most iconic mountain-town feel+2We like stacking short, kid-friendly activities+2+1Our trip is ski-first (or resort-first)+2We want mellow, low-crowd, shoulder-season vibes+2+2We’re fine driving to experiences (and like variety)+2+2We want to walk to food, coffee, and “town atmosphere”+2+2We want a single place to anchor a 2–4 day trip+1+2

You can also do the “gut check” method: if you read “Fernie is the postcard,” and your brain immediately went “YES, give me postcard,” you already know.

How far apart are they, really? (and why that matters)

Cranbrook and Fernie are close enough that you can treat them like neighboring personalities in the same friend group. The drive is roughly an hour-ish depending on conditions, which means:

You can split your stay without feeling like you’re wasting travel time.

You can use Cranbrook as the “hub” and Fernie as the “mountain-town finale” (a narrative structure that practically writes your trip recap for you).

Our trip logic: we wanted easy stops, patios, and plenty of “short wins” with the baby, so we leaned into that hour-radius flexibility.

Getting there: flying vs road tripping (and what we’d do)

Most people arrive by road, and both towns work beautifully as part of a Southern Alberta → BC loop. If you’re flying, the sneaky advantage is that Cranbrook has the region’s main airport, so Cranbrook is the easiest “fly in, grab a rental car, start exploring” base. Fernie is then a simple hop down the highway for the mountain-town portion of the trip.

On the ground, think of it like this:

Cranbrook is easier for “set up camp and branch out.”

Fernie is easier for “park the car and live the mountain town life.”

Fernie, British Columbia train tracks photographed from a low angle, highlighting the weathered wooden ties and steel rails that cut through town. These tracks are a reminder of Fernie’s deep railway roots and how the railroad shaped this East Kootenay mountain community’s history and growth.

When to choose Fernie (and when it’s not the right call)

Fernie wins when you want the full mountain town experience: scenery, trails, a walkable core, and that feeling that your day is naturally organized around “outside first, food second, brewery third, collapse into bed fourth.”

Fernie is the better pick if you want…

A trip where the town itself is the destination

Ski resort energy (even if you’re visiting in summer, the identity still shows up)

A place that feels immediately charming and “vacationy”

In-town trails you can access without building a complicated itinerary

Fernie might not be your best pick if…

You want a trip that’s mostly about variety and day trips

You’re traveling with someone who needs more services and convenience right on hand

You get stressed by the “destination town” vibe in peak seasons and would rather have a calmer base

Fernie doesn’t fail at practicality—it’s just that Cranbrook quietly wins at “we can solve any problem today” energy.

A striking horse mural in Cranbrook, British Columbia, painted across a downtown building and visible from the street. The bold colors and abstract design celebrate the area’s Western roots while highlighting Cranbrook’s growing public art scene in the East Kootenays.

When to choose Cranbrook (and when it’s not the right call)

Cranbrook wins when you want flexibility and a “hub” that makes the whole region easier. It’s not trying to be a ski postcard 24/7—and that’s exactly why it can be such a smart choice.

Cranbrook is the better pick if you want…

A basecamp with more everyday services

A trip that mixes outdoors + history + food + random surprises

Easy family-friendly activities that aren’t all full-day hikes

A place that’s often better for value and low-stress planning

Cranbrook might not be your best pick if…

You want that immediate “wow, we’re in a mountain town” feeling

You prefer your trip to be walkable and centered on one compact downtown

Your whole identity for the weekend is “ski, ski, ski” (Fernie tends to win that vibe battle)

Cranbrook’s superpower is that it gets better as you explore—like a movie that starts slow and then suddenly you’re invested.

Audrey Bergner and baby Aurelia visiting the historic CPR railway station in Fernie, British Columbia, a beautifully preserved wooden depot that highlights the town’s railway history, heritage architecture, and walkable, family-friendly downtown in the East Kootenays.

Our early-September Fernie experience: what we did, what hit, and what felt most “Fernie”

Fernie greeted us with that “back in BC” feeling—mountains, crisp-ish air, and a downtown that looks like it’s been photographed for tourism brochures since the beginning of photography.

A striking sculpture along the Miner’s Heritage Walk in Fernie, British Columbia, honoring the town’s coal-mining past while showcasing one of Fernie’s most meaningful public art installations and walkable historic attractions in the East Kootenays.

Day 1: food-first, history-second, charm-all-day

We arrived hungry, because that is our most consistent travel tradition. The first stop was Luchadoro Burrito Co for burritos with serious personality. This was also the moment the baby got her own “meal” in the form of fruit purée, which is basically the toddler equivalent of a tasting menu.

From there, we went straight into Fernie Museum, which is an underrated move because it gives you context. Fernie has a history of disasters—fires, floods, and mining tragedies—and what stood out was how the town kept rebuilding and reinventing itself. It makes the modern Fernie feel earned, not just pretty.

After the museum, we did what Fernie is designed for: wandering. We strolled downtown, admired the City Hall gardens, and did little “stop-and-look” moments that are stroller-friendly and low effort. We also grabbed a Heritage Walk brochure (a fun way to turn “walking around” into “I am a serious person doing cultural activities”).

An unreal reflection at Maiden Lake in Fernie, British Columbia, where calm water perfectly mirrors the surrounding mountains and trees, making this lakeside walk one of the most peaceful and photogenic nature spots in the East Kootenays.

Day 2: the Fernie rhythm (bagels → lake loop → waterfall → brewery)

If Fernie had an official daily schedule, it would start with breakfast that feels like a reward. We hit Big Bang Bagels, which is famous enough that you’ll hear about it before you even arrive. We ordered the Avolauncher and the Switchback Salmon, and yes, we made the “we got banged” joke.

Then we went to Maiden Lake, which turned out to be one of the best “family travel” wins of the whole trip. It’s an easy loop, stroller-friendly, peaceful, and photogenic in that reflective, calm-water way that makes you feel like a competent adult with a well-planned itinerary (even if you arrived five minutes ago and didn’t know it existed).

Fairy Creek Falls in Fernie, British Columbia spills gracefully over layered rock cliffs, creating a dramatic waterfall framed by dense forest, fallen logs, and mossy stone—one of the most rewarding and photogenic short hikes in the East Kootenays.

After Maiden Lake, we did Fairy Creek Falls. This one is more of a “work for it” stroll, especially if you’re carrying a baby in a backpack carrier. We checked in at the Visitor Centre first (bathrooms, trail info, and a quick safety chat), then did the hike with the kind of “okay, we’re doing this” energy that parents develop somewhere between diaper blowouts and airport security lines.

Finally, we did what any civilized person does after a hike: we went to Fernie Brewing Company. It’s a classic post-hike patio stop, and it plays perfectly into early September travel. You get that late-summer patio atmosphere without the peak-season chaos.

Island Lake Lodge in Fernie, British Columbia offers next-level alpine scenery, with crystal-clear water, towering evergreen forest, and dramatic Rocky Mountain peaks. Audrey Bergner soaking in the calm lakeside views perfectly captures why this is one of Fernie’s most unforgettable mountain escapes.

The Fernie grand finale: Island Lake Lodge (the “how is this real?” day)

If you only steal one idea from our Fernie trip, steal this: do a day trip to Island Lake Lodge, even if you don’t stay overnight. The place feels like someone took a luxury lodge, dropped it into an alpine postcard, and then said, “Sure, let’s also make the food excellent.”

We ate at Bear Bistro, and the meal felt like the kind of thing you talk about later like it was a concert. The views, the easy trail access, the lake scenery—it’s a whole package. We didn’t stay overnight and we still think about it, which is the travel equivalent of leaving a party early and then checking Instagram with regret.

The Kootenay Trout Hatchery near Cranbrook, British Columbia is a relaxed, family-friendly stop in the East Kootenays, perfect for stretching your legs while learning about local fish conservation. Audrey Bergner and Aurelia visiting the outdoor displays highlights why this hatchery is an easy, educational detour when driving through the region.

Our early-September Cranbrook experience: what we did, what surprised us, and why it works so well as a hub

Cranbrook is the place that proves first impressions are unreliable. We drove in and saw the commercial zone and had a brief moment of “Uh oh. Is this Red Deer?” And then we started doing things—real things—and Cranbrook completely flipped the script.

The “Cranbrook stacks well” activity style

Cranbrook is perfect for trips where you want multiple stops that don’t require full-day commitment. With a baby, that’s priceless. You can do a short attraction, a short walk, a meal, another attraction, and nobody loses their mind. That’s a win.

Kootenay Trout Hatchery: the unexpectedly adorable stop

The Kootenay Trout Hatchery was a surprisingly great start. It’s quick, it’s easy, and it’s genuinely fun—especially if you like the “small, local, educational” kind of travel stop. We fed fish, watched the baby stare intensely at aquatic movement like she was analyzing a stock chart, and then we were back on the road without needing to commit to a multi-hour excursion.

Elizabeth Lake in Cranbrook, British Columbia offers a peaceful nature escape with wetlands, reflective water, and forested hills framing the landscape. It’s an easy, low-effort spot in the East Kootenays for enjoying quiet scenery, spotting birds, and slowing down while exploring the area.

Elizabeth Lake: wetlands, birds, deer, and “we have the place to ourselves”

Then we hit Elizabeth Lake, which was one of those quiet, peaceful highlights that feels like a secret even though it’s right there. Wetlands, birds, and deer wandering around like they owned the place (which, to be fair, they kind of do). It’s an easy walk and it’s exactly the kind of thing you appreciate in early September: calm, golden light, and no crowd soundtrack.

Inside the Cranbrook History Centre, visitors can explore colorful historic interiors, railway-era exhibits, and interpretive displays that tell the story of Cranbrook’s development and its deep connection to the Canadian Pacific Railway in British Columbia’s East Kootenay region.

Cranbrook History Centre: trains, kid-friendly learning, and a surprisingly strong indoor anchor

The Cranbrook History Centre was a huge “this is better than we expected” moment. It’s great for families, great for rainy days, and honestly just interesting if you like heritage and rail history. We did the toddler tour vibe (short attention spans, stroller logistics, strategic snack deployment), and it still felt worthwhile.

Nomadic Samuel enjoying an over-the-top gourmet burger at Fire Hall Kitchen & Tap in Cranbrook, British Columbia, a former fire hall turned restaurant that perfectly represents the city’s unexpectedly strong food scene and its growing reputation as a worthwhile stop in the East Kootenays.

Food that punches above expectation (plus repurposed-building charm)

Cranbrook also delivered on food in a way that felt… unfairly competent. We ate Thai that hit that “I miss Chiang Mai” note, and we also had a meal at a restaurant inside a repurposed firehall, which is the kind of detail that makes a place feel distinct.

Bowling lanes inside Encore Brewing Co. in Cranbrook, British Columbia, where craft beer, pizza, and classic bowling combine to create one of the city’s most memorable and unexpected date night spots in the East Kootenays.

Encore Brewing + bowling: the most delightfully random “how is this here?” activity

And then Cranbrook went fully unhinged (in a good way) with Encore Brewing because it’s a brewery… with bowling... and pizza It’s also the perfect early-September evening plan when you want something fun that isn’t a nightclub.

A classic rural scene at Fort Steele Heritage Town near Cranbrook, British Columbia, where visitors can experience pioneer-era life up close, including horses, historic buildings, and hands-on demonstrations that bring the East Kootenays’ past vividly to life.

Fort Steele + St. Eugene: the day trip layer that makes Cranbrook shine

Cranbrook’s big advantage is how easy it is to layer in day trips. Fort Steele gives you that open-air history experience with enough quirky details to keep it fun (we learned things and also made jokes about old-time dentistry, because we’re human). And St. Eugene adds a deeper, more reflective stop—one that asks you to pay attention and be respectful, and that’s worth including in a grown-up travel guide.

Outdoors head-to-head: trails, lakes, waterfalls, and “how hard is this with a baby?”

This is where Fernie and Cranbrook feel the most different.

Fernie outdoors: compact, dramatic, and easy to “just do”

Fernie is built around outdoors. Even your “casual day” ends up involving a lake, a trail, or a scenic view you didn’t earn but will happily accept.

Our favorites:

Maiden Lake for stroller-friendly loops, reflections, and “rest day” energy

Fairy Creek Falls for a short hike that feels like an accomplishment

Island Lake Lodge for “this is the best scenery of the trip” moments

Fernie’s outdoors are about impact. You don’t need to drive far to feel like you’re somewhere special.

Cranbrook outdoors: variety, easy wins, and a different landscape feel

Cranbrook’s outdoors are less dramatic at first glance but excellent in practice. You’re getting wetlands, parks, and forest trails that work well for:

Short walks with a stroller

Quick nature hits between meals

Multi-stop days where you don’t want one big hike to dictate everything

Our favorites:

Elizabeth Lake for wildlife and calm and the Cranbrook Community Forest and Idlewild Park for community vibes

The general park-and-trail system for quick access

The “day trip radius” effect: you can do lake days, heritage days, forest days

Stroller and carrier reality check

If you’re traveling with a baby or small kid, here’s the practical truth:

Fernie gives you stroller-friendly wins (Maiden Lake) but also encourages “carry the baby, embrace the burn” hikes (Fairy Creek Falls).

Cranbrook offers more “flat and calm” options that stack nicely when you’re trying to keep nap schedules from collapsing your whole trip.

Winter & skiing head-to-head (even if you’re visiting in summer)

Even if your trip isn’t winter-based, it matters because the winter identity shapes the town.

Fernie in winter

Fernie feels like a ski town because it is. It’s the kind of place where you can imagine the rhythm: powder days, après patios, and people casually talking about conditions like they’re discussing global politics.

Fernie wins for:

Ski-first trips

Resort-centric weekends

People who want that “mountain town in full winter mode” vibe

Cranbrook in winter

Cranbrook is more of a winter base. It’s practical, it’s convenient, and it’s the place you stay when you want to ski nearby but also want other options in your evenings—especially if you’re traveling with kids or you like having more choice for dining and logistics.

Fernie vs Cranbrook, but make it delicious: Bear Bistro at Island Lake Lodge (Fernie) goes head-to-head with Fire Hall Kitchen & Tap (Cranbrook) in a torn-paper burger showdown—two East Kootenay meals that absolutely earn a detour on a road trip.

Food & drink head-to-head: where you’ll eat happiest (and how we’d do it again)

We judge places by scenery, yes—but also by whether the post-hike meal feels like a reward or a tragedy.

Fernie food: high-reward, “treat yourself” energy

Fernie’s food rhythm fits the outdoors rhythm. You’re hiking, then you’re eating like you deserve it.

Our Fernie highlights:

Luchadoro Burrito Co: big flavors, fast satisfaction

Big Bang Bagels: legendary breakfast fuel

Fernie Brewing Company: the ideal “we earned this” patio

Bear Bistro at Island Lake Lodge: destination-level meal with destination-level scenery

Fernie wins if you like travel days that end with: “That meal was worth the drive.”

Cranbrook food: better than expected, plus excellent “quirky venue” points

Cranbrook delivered food that felt genuinely memorable—especially when layered with its surprise-factor activities.

Our Cranbrook highlights:

Family Thai Restaurant (our “we miss Southeast Asia” fix): Pad Thai + green coconut curry (Audrey went 3/5 and paid the sinus-clearing price), plus mango sticky rice and deep-fried banana for the sweet victory lap. 

Fire Hall Kitchen & Tap (repurposed firehall charm done right): signature burgers and a craft beer moment that felt way fancier than “hub city lunch” has any right to be. 

Encore Brewing (brewery + bowling + pizza = “how is this a thing?”): the most perfectly random evening plan, and honestly a top-tier rainy-day / shoulder-season move. 

Cranbrook wins if you like travel food that comes with: “Wait, this is actually really good and nearby.”

Culture & history head-to-head: museums, heritage, and rainy-day plans

If you’re building a trip that isn’t 100% outdoors, this section matters a lot.

Fernie’s history vibe

Fernie’s history hits hard because the town has survived a lot. The museum gives you a meaningful sense of place, and the heritage walk-style exploration makes the town feel textured, not just scenic.

Fernie wins for:

“Small town with a big story” energy

Easy, walkable heritage moments

Pairing culture with outdoors in a compact trip

Cranbrook’s history vibe

Cranbrook’s history and heritage offerings are broader. The History Centre is a strong anchor, and the day trip layer (Fort Steele especially) makes it feel like you can go deep without repeating yourself.

Cranbrook wins for:

Variety of indoor and heritage options

Family-friendly history experiences

Day trips that keep things fresh

Fernie vs Cranbrook — a family-friendly showdown. On the left, Audrey Bergner and baby Aurelia enjoy a stroller walk at Maiden Lake with the mountains of Fernie in the background; on the right, a tranquil scene unfolds by the dock at Idlewild Park in Cranbrook. Two East Kootenay moments, each with its own calm beauty.

Family travel head-to-head: what it’s like with a baby (and what we learned)

Traveling with a baby doesn’t ruin travel. It just turns it into a tactical sport.

What Fernie did well for family travel

Easy downtown wandering: low effort, high charm

Maiden Lake: stroller-friendly loop, minimal stress

Visitor Centre strategy: bathrooms + trail intel + “are there bears today?” conversations

Fernie felt like the place where you can still do “mountain town things” while keeping the baby comfortable.

What Cranbrook did well for family travel

Stackable short activities: hatchery, wetlands, parks, museum

More “everyday convenience” vibes: easier to solve problems quickly

Indoor backup plans: great when the weather sucks and you're with baby

Cranbrook felt like the place where you can keep moving without overcommitting.

The packing truth

Bring the stroller for loops and parks.

Bring the carrier for short hikes where a stroller becomes a cruel joke.

Plan for one “big” thing per day and let everything else be a bonus.

Budget & value: where your money feels better spent

This is where your travel style matters.

Fernie value realities

Fernie is a destination town, which often means:

Higher demand in peak seasons

More pressure to book ahead for certain lodging styles

A general “vacation town” price vibe

But you also get the payoff: the town atmosphere is part of what you’re paying for.

Cranbrook value realities

Cranbrook often feels like:

Better for travelers who prioritize practical spending

Easier to find the “solid and comfortable” option without hunting

A good base if you want day trips without paying destination-town premiums every night

If you’re doing a longer road trip and trying to control costs, Cranbrook can possibly be a sneaky win.

Where to stay: best areas for each town (with quick picks)

Fernie: where we’d base ourselves

AreaBest forWhy it worksDowntown / near the coreFirst-time visitorsWalkable charm, easy meals, quick access to trailsNear the highway (for road-trippers)ConvenienceSimple logistics, easy in/out, still close to townCloser to the ski area (seasonal)Ski-focused tripsThe “wake up and go” winter rhythm

Cranbrook: where we’d base ourselves

AreaBest forWhy it worksNear parks / trail accessFamiliesEasy morning and evening walks without driving farNear the coreVisitors who like walkabilityMore character, easier dining“Practical base” locationsRoad tripsEasy parking, quick access to highways and day trips

Best things to do: Fernie vs Cranbrook, category by category

Best “easy win” activity (minimal effort, maximum payoff)

TownActivityWhy it’s perfectFernieMaiden Lake loopCalm, scenic, stroller-friendly, instant “we love this town” energyCranbrookElizabeth Lake wetlandsWildlife, quiet, easy walking, feels like a local secret

Best “we actually learned something” stop

TownActivityWhy it stands outFernieFernie MuseumA resilient town story that gives you contextCranbrookCranbrook History CentreGreat indoor anchor with heritage depth (and kid-friendly appeal)

Best “reward meal” moment

TownMealWhy it winsFernieIsland Lake Lodge / Bear BistroScenic + memorable + feels like a splurge worth doingCranbrookThai + firehall meal comboSurprisingly strong food day with distinct venues

Best quirky evening plan

TownOptionWhy it’s funFernieBrewery patio + downtown strollClassic mountain-town evening rhythmCranbrookBrewery + bowling + pizzaThe “how is this a thing?” surprise-factor activity

The Kootenays Reality Check

What I thought would matter vs what actually mattered

I went into this Fernie + Cranbrook stretch of our BC road trip thinking I’d be making Big Outdoors Decisions. You know the type: Which hike is the most scenic? Which viewpoint is the most epic? How many kilometres can we casually stroll before lunch like we’re characters in a Patagonia catalogue? And then we arrived with a baby and reality gently placed a hand on my shoulder and whispered, “You will plan nothing. You will adapt. You will also spend a surprising amount of time thinking about bathrooms.”

The fantasy version of this trip

In my head, this was going to be all about big hikes, big views, and noble suffering. I pictured us “earning” the scenery, being rugged and outdoorsy, and returning to the car with that smug glow of accomplishment… like we weren’t also carrying an entire mobile nursery in the trunk.

The real version of this trip

Here’s what actually mattered: stroller surfaces, nap windows, snack availability, and whether a place had the kind of calm, low-effort loop that lets you feel outdoorsy without sweating through your shirt while carrying a tiny human like an unevenly distributed kettlebell. Maiden Lake in Fernie? That’s not just a pretty spot—it’s a tactical masterpiece. Elizabeth Lake in Cranbrook? Same deal. These places are basically the MVPs of family travel because they give you the “wow” without the meltdown.

Food became the itinerary (and I regret nothing)

In a pre-baby timeline, we would’ve been the kind of travellers who hike first and eat later. In the current timeline, we operate on fuel-first logic, because hunger plus parenting is a recipe for becoming a person you don’t recognize. Fernie understood this immediately and handed us Big Bang Bagels like a peace treaty. Cranbrook understood it too, but in a different way: it’s the place where you think you’re just grabbing dinner and suddenly you’re in a repurposed firehall having a genuinely great meal, and then the next night you’re at a brewery that has bowling and you’re asking yourself if you’re still a travel vlogger or if you’ve become a suburban dad on a fun weekend (no disrespect—suburban dads are living their truth).

The moment Fernie quietly wins

And here’s the part where Fernie takes the cake: it’s more epic without you trying. Cranbrook stacks experiences like a highlight reel—hatchery, wetlands, museum, food, weirdly wholesome activities—and it does it with zero drama. But Fernie has the kind of scenery that makes you stop mid-sentence. It’s not that Cranbrook isn’t beautiful. It’s that Fernie feels like the mountains are leaning in closer, like they’re trying to get into your shots. Even on an easy day—lake loop, short waterfall hike, patio reward—you feel like you’re in a proper mountain town.

The honest takeaway

The best way I can describe it is this: Cranbrook is the trip that runs smoothly. Fernie is the trip you brag about later. Cranbrook is the Swiss Army knife: practical, flexible, full of surprises. Fernie is the postcard: dramatic, scenic, and somehow always a little bit better than you expected. Do both if you can—Cranbrook makes the whole experience easier and more varied—but if you’re forcing me to choose one place that delivers maximum mountain-town magic per minute? Yeah. Fernie. Every time.

Sample itineraries (the easiest way to plan this trip)

2 days: Fernie-only (mountain town hit, no fluff)

Day 1

Arrive, burritos, downtown wander

Museum + heritage walk vibe

Easy dinner + early night

Day 2

Big Bang Bagels

Maiden Lake loop

Fairy Creek Falls

Fernie Brewing patio

Optional: Island Lake Lodge if you have the time and want the big wow

2 days: Cranbrook-only (hub city that stacks)

Day 1

Trout hatchery

Elizabeth Lake wetlands

Old town wander + coffee

Thai dinner

Day 2

History Centre

Idlewild and Community Forest

Firehall meal

Encore Brewing + bowling

4 days: the best of both (our favorite strategy)

Day 1–2: Cranbrook

Use Cranbrook for stacked activities, easy family rhythm, and day-trip potential

Day 3–4: Fernie

Finish with the mountain town magic: lake loop, waterfall, brewery, and Island Lake Lodge

This split itinerary gives you variety first, then a scenic finale. It also makes early September feel especially perfect: patios, light, and just enough warmth to keep things comfortable.

Practical planning tips (so your trip runs smoothly)

When to visit

Early September is elite for this region if you want:

Patio season without peak crowds

Warm-ish days and cooler evenings

Trail time that feels comfortable, not punishing

What to pack

Layers (mornings and evenings can flip fast)

Stroller + carrier combo if traveling with a baby

Trail snacks that can double as emergency peace offerings

Wildlife and trail safety

Use local visitor info, pay attention to trail signage, and default to common-sense trail behavior. We asked about bear sightings before one hike and stayed a little more alert.

✨ Ready to start planning your Fernie route?

🎟️ Explore tours & experiences (Viator)

🏨 Compare Fernie hotels (Booking.com)

🚗 Reserve a rental car (DiscoverCars)

🚌 Book bus tickets (Busbud)

The final call: which is better, Cranbrook or Fernie?

If we’re being forced to choose—like a travel game show where the host is smiling and we’re quietly panicking—Fernie wins.

Cranbrook is the smart, underrated hub: it stacks activities beautifully, it’s easy with a family, and it surprised us in the best way (wetlands + deer sightings, a genuinely solid history centre, and a brewery that also has bowling… which still feels like something invented by a happy committee of dads). It’s practical, flexible, and it makes the whole region simpler to explore.

But Fernie is the one that feels epic.

Fernie has that instant mountain-town hit—the scenery is more dramatic, the vibe is more “we’re here for the mountains,” and the whole place feels like it was built for people who want to spend the day outside and then reward themselves with a great meal and a patio pint. Even doing “easy” stuff like a lake loop or a short waterfall hike feels big because the backdrop is doing half the work for you (and I say that with love, because I’m a huge fan of backdrops doing work).

So our real recommendation stays the same: visit both. Use Cranbrook for the hub energy and variety, then finish in Fernie for the mountain-town grand finale—especially in early September when patio season is still humming but the crowds are mercifully elsewhere.

But if push came to shove and you only had time for one? Fernie is the stronger “wow” destination.

✨ Ready to start planning your Cranbrook route?

🏙️ Explore tours & experiences (Viator)

🛏️ Compare Cranbrook hotels (Booking.com)

🚗 Reserve a rental car (DiscoverCars)

🚌 Book bus tickets (BusBud)

Cranbrook vs Fernie FAQ: planning help for real travelers (and real decision paralysis)

Is Fernie worth it if we don’t ski?

Yes. Fernie’s summer and shoulder-season appeal is legit: lakes, short hikes, a charming core, and easy “reward meal” energy that makes the outdoors rhythm feel satisfying.

Is Cranbrook worth it if we want “mountain scenery”?

Yes, with the right expectations. Cranbrook is less “instant postcard” and more “basecamp with access to scenery,” plus it shines when you mix nature with heritage and food.

Can we visit Fernie as a day trip from Cranbrook?

Yep. It’s close enough to do comfortably, especially in summer and early fall. Splitting time is even better if you can.

Which town is better with a stroller?

Both have wins. Fernie’s Maiden Lake loop is a standout. Cranbrook’s wetlands and parks stack well for stroller days.

Which town is better for hiking?

Fernie is better for “dramatic payoff per effort” close to town. Cranbrook is better for variety and short trail hits that fit around other activities.

Where should we stay if we only have one night?

If you want a mountain-town night, Fernie. If you want the easiest logistics and more “hub” convenience, Cranbrook.

Which town has better rainy-day options?

Cranbrook has a stronger indoor anchor lineup for families. Fernie still has solid museum and town-wander options.

Is Island Lake Lodge doable as a day trip?

Absolutely, and it’s one of the best ways to level up a Fernie itinerary even if you don’t stay overnight.

Which town is better for foodies?

Fernie wins for “treat yourself after the hike” moments. Cranbrook wins for “surprisingly strong food day plus quirky venues.”

Which is better for a longer road trip stop?

Cranbrook often fits better as a flexible base on a longer road trip, while Fernie is the better “destination” stop when you want to soak up the vibe.

#### Do You Need Trekking Poles in El Chaltén? Real Lessons From Our Hikes
El Chaltén has a funny way of turning normal, snack-loving humans into “serious hikers” for a week. You wake up early, you promise yourself you’ll eat a hearty breakfast, and then—somewhere around kilometer nine—you realize you’re basically a hungry wind-sail with legs. Audrey and I went to El Chaltén expecting epic views (delivered), great food (also delivered), and a few “pleasant hikes”.

And yet… here we are, writing the trekking poles article.

Hikers using trekking poles ascend the Laguna de los Tres trail in El Chaltén, Patagonia, following a forested mountain path toward the Fitz Roy massif, a classic scene that shows why poles help on steep and uneven terrain.

Because the question isn’t really “Do you need trekking poles in El Chaltén?” The question is: Do you want to feel steadier, safer, and less demolished on the descents—especially on the big-ticket hikes—without turning your arms into instant ramen? If you’re stacking big days back-to-back (hello, Fitz Roy and Torre), trekking poles can be the difference between “We’re doing another hike tomorrow!” and “Please airlift me directly to La Waflería.”

This guide is part science, part practical gear advice, and part “we learned this the hard way.” We’ll tell you when poles are genuinely worth it, when they’re optional, how to use them so they actually help, and how El Chaltén’s specific terrain and weather make this decision different than, say, a friendly stroll in a polite national park that doesn’t try to wind-slap you into another dimension.

https://youtu.be/TJZ-lgmwE2Q

The short answer

Let's get one thing straight. Most hikers in El Chaltén don’t strictly need trekking poles for every trail. But for the hikes most people travel across the planet to do—especially Laguna de los Tres (Fitz Roy viewpoint) and Loma del Pliegue Tumbado—poles are a smart tool for steep, rocky sections, long descents, and tired legs. Official trail guidance also warns about snow or mud near the end of some routes in autumn/spring, with a steep rocky slope where it can be dangerous to progress safely.

If you’re only doing short viewpoints and easy half-day walks, poles are optional. If you’re doing the big hikes (or you’ve got sensitive knees, a heavier pack, or shoulder-season conditions), poles are a “rent them and thank yourself later” item.

For context: I had six nights in town and still needed a full recovery day after Fitz Roy, plus one day where the wind made hiking feel like an extreme sport nobody consented to. That mix—big hikes + fatigue + conditions—is exactly why poles go from “optional accessory” to “smart decision.”

The Senda Fitz Roy Km 9 trail marker in El Chaltén, Patagonia, Argentina, marking the infamous final steep and rocky kilometer on the Laguna de los Tres hike where tired legs, loose terrain, and strong wind make trekking poles a smart companion.

Our El Chaltén origin story: KM 9 made believers out of foodies

We spent six nights in El Chaltén with one goal: hike hard, eat harder, repeat until our legs capsized. We tracked hikes by kilometer markers like it was a video game, which is great for morale… until you realize that kilometer nine has its own personality.

On our Fitz Roy day, breakfast was early (El Chaltén accommodations understand hikers), the sky was clear, and we immediately did something very on-brand: we forgot our trail map on the nightstand. So we wandered around town, found the trailhead anyway, and got moving.

Seriously folks, Audrey and I left our trail map behind, which turned “early start” into “urban orienteering.” Nothing like beginning Patagonia’s most iconic hike with a 45-minute scavenger hunt for the trailhead.

Somewhere around 9 a.m. we were already eating our lunch. I was being piggy. I ate my sandwich. Audrey was the responsible one with a rice salad situation—big chunks of cheese, lots of egg, the kind of meal that says, “Yes, I plan.”

Epic views at Laguna Capri in El Chaltén, Patagonia, where hikers rest beside the shoreline and gaze toward the towering Fitz Roy massif across a deep blue mountain lake—an unforgettable reward stop on the Laguna de los Tres trail.

At Laguna Capri we had the classic fork-in-the-road debate: loop back toward town, or keep going to Laguna de los Tres. The weather was good, it was still early, and the daylight felt endless—so we went for the crown jewel, fully aware that the last kilometer had a reputation.

You’ve done the long approach, crossed rivers, admired granite peaks doing their best CGI impression… and suddenly the trail narrows, the slope kicks up, the surface gets rockier and looser, and the wind turns up like it’s trying to win an argument.

That’s kilometer nine. The longest and toughest kilometer of the whole trek.

KM 9 was also where the trail turned into a little bottleneck of shared suffering: tired hikers, steeper terrain, loose rock, and that feeling that your quads are all kinds of toast. If there’s one place in El Chaltén where poles feel like a cheat code, it’s that stretch.

We kept going partly because hikers coming down kept saying, “Keep going! The views are insane!” They were not lying. Reaching Laguna de los Tres was the most impressive view of our entire week of trekking in El Chaltén.

It was windy beyond belief and we were ravenous, so we literally hid behind a rock like frightened snacks on legs. Our gourmet summit meal was: one granola bar, some candy, and pure gratitude—then we started the long descent back down.

That’s why trekking poles are worth discussing.

Nomadic Samuel carrying camera gear walks the Laguna Torre trail in El Chaltén, Patagonia, following a winding path through a green mountain valley and rocky cliffs — a real-life moment showing how easy it is to forget trekking poles before a long Patagonian hike.

What makes El Chaltén different (and why poles are unusually helpful here)

El Chaltén is famous because the hiking is spectacular and accessible. It’s also… not gentle.

The “long descent back to town” reality

Many of the iconic routes are out-and-back. You don’t finish at a cozy shuttle stop; you finish by turning around and walking back the same distance. That means you often do the hardest/steepest section when you’re already tired, and then you still have hours of descending and rolling terrain after the “payoff.”

Poles shine on the way down because they can help reduce load on the lower body and make you feel more stable when your legs are wobbling like newborn deer.

Patagonia wind and fast-changing conditions

Patagonia is famous for changeable weather and strong winds. You can have sun, gusts, clouds, and “why is my face frozen?” in the same day. Poles can help with balance in wind and uneven terrain, but they can also be annoying if you’re constantly adjusting your grip or trying to keep your hands free for layers, photos, and snacks (a critical system).

Audrey and I had one day where the wind basically vetoed our hiking ambitions. We tried going out and immediately got that cartoon feeling of being pushed sideways—so we pivoted to a café day and saved our energy (and dignity) for a better window.

Hikers ascend the steep and rocky final section of the Laguna de los Tres trail in El Chaltén, Patagonia, making their way across loose stone terrain toward the towering Fitz Roy massif—a demanding stretch where trekking poles become especially useful.

Rocky finishes, loose gravel, and steep sections

Some of the classic hikes have steep, rocky final sections (Laguna de los Tres and Pliegue Tumbado are the usual suspects). If those are wet, muddy, or snow-covered (common in shoulder season), they get more serious. Official trail descriptions explicitly warn about snow/mud toward the end and a rocky steep slope where it can be dangerous to progress safely.

Multi-day hiking fatigue

El Chaltén trips often involve stacking big hikes: Fitz Roy one day, Torre the next, then you get ambitious and start eyeballing another viewpoint like you’re invincible. Poles can help you manage cumulative fatigue by spreading some work to the upper body and helping reduce muscle damage after big mountain days.

We learned quickly that we’re “foodies” first and hikers second. Six nights gave us room for a full recovery day after Fitz Roy (12 hours of sleep, stiff legs, and dramatic hobbling), plus flexibility when Patagonia decided to throw a weather tantrum.

A close-up trekking pole rests on a lichen-covered rock at Laguna Capri in El Chaltén, Patagonia, with Fitz Roy softly blurred in the background, capturing a bokeh-style moment that highlights essential hiking gear against calm lake waters and iconic Patagonian mountain scenery.

What trekking poles actually do 

Think of trekking poles as a multi-tool with four jobs:

1) Extra points of contact (stability)

Two feet good. Two feet plus two poles is… often better. Poles can help with balance on uneven ground, loose rock, and slippery sections. Reviews of the research generally find poles can increase balance and stability, particularly when carrying a larger external load.

2) Brakes on descents (knee-friendlier returns)

Downhill is where many hikers feel the biggest benefit. Biomechanics research has measured knee joint forces during downhill walking with and without poles, and this is the core reason poles are beloved by people with cranky knees: they let you share some of the load.

An illustrated infographic showing what trekking poles actually do for hikers in El Chaltén, Patagonia, breaking down four key benefits: added stability on uneven ground, knee-friendly braking on descents, improved rhythm and pacing when tired, and small climbing assistance on steep mountain trails.

3) Rhythm and pacing (especially when you’re tired)

Poles can help you keep a steady cadence. On long days, they can act like metronomes for your legs. This sounds silly until you’re seven hours into a hike and your brain is negotiating with gravity.

4) A small “assist” on climbs (if you use them correctly)

Poles can help on steep climbs by letting you push a bit with your arms, keeping your torso more upright, and distributing effort. But this is not Nordic walking; you don’t need to turn it into a full-body ski workout unless you want the extra exertion.

The tradeoff: poles can increase cardiovascular demand

Poles can make hiking feel easier on joints and stability, but they can also increase cardiovascular demand because you’re involving more of your body. For many people, that tradeoff is worth it—especially when the goal is to finish strong and hike again tomorrow.

The El Chaltén trekking pole decision matrix infographic breaks down when hikers should bring or rent trekking poles for Patagonia trails, including Laguna de los Tres, Pliegue Tumbado, Laguna Torre, and shorter miradores based on terrain, weather, fatigue, and pack weight.

The El Chaltén Trekking Pole Decision Matrix

Use this like a quick diagnosis. Read across, find yourself, and you’ll know whether to bring poles, rent them, or skip them.

Your situationPoles are…Why it matters in El ChalténDoing Laguna de los Tres (Fitz Roy viewpoint)Strongly recommendedSteep rocky finish + long return descent + fatigueDoing Pliegue TumbadoStrongly recommendedLong day, exposure/wind, steep rocky upper sections, early start advisedDoing Laguna Torre (full trek)HelpfulLong day; poles help rhythm and return-leg fatigueOnly doing miradores / short walksOptionalGenerally lower difficulty; poles are preferenceKnee sensitivity, past injuries, or you hate steep descentsStrongly recommendedPoles can reduce downhill load and increase confidenceShoulder season (autumn/spring) with snow/mud riskStrongly recommendedSlippery surfaces + disorientation risk near steep rocky sectionsCarrying a heavier daypack (photo gear, extra layers, baby carrier)Strongly recommendedMore load = more benefit from stability and load sharingYou love having hands free for photos, layers, mates, snacksMaybePoles can be annoying; consider renting just for big hikes

Trail-by-trail: where poles pay off the most

El Chaltén has a mix of “wow, that’s approachable” and “why are my calves on freakin' fire?.” Here’s how poles fit into the main hits.

A hiker (Nomadic Samuel) walks the Laguna de los Tres trail in El Chaltén, Patagonia, crossing wooden boardwalks through wetland terrain as the towering Fitz Roy massif rises above green forested hills and rugged granite peaks in the distance.

Laguna de los Tres (Fitz Roy viewpoint): the classic “yes, poles” hike

This is the hike that turns tourists into quasi-hikers. The approach is beautiful, the scenery escalates, and then the final section asks: “How do you feel about steep rock and gravel, while tired?”

In autumn or spring there may be snow or mud toward the end where the trail crosses a rocky area with a steep slope, and that it can be dangerous to progress safely and easy to become disoriented. That’s the precise kind of terrain where poles are not a luxury. They are a safety and comfort upgrade.

Where poles help most on this hike:

The steep final climb (especially if loose or slick)

The descent back down that same steep section (this is where knees beg for mercy)

Any windy, uneven traverses where you want extra stability

Our personal lesson:

The first 9 km felt “intermediate.” The last kilometer is where it tests you. That’s where poles earn their keep.

Close-up of a trekking pole resting on a rock at Loma del Pliegue Tumbado in El Chaltén, Patagonia, with a bokeh view of a distant mountain lake and rugged peaks, capturing a quiet moment that highlights essential hiking gear in Patagonia’s trekking heartland.

Loma del Pliegue Tumbado: long, exposed, and proud of it

This hike is a full-day commitment and often recommended to start very early, ideally at first light, paying attention to daylight and carrying a flashlight. If you’re a “we’ll just see how it goes” person, this is the hike that gently turns that personality trait into planning.

There is potential snow or mud toward the end, again with a rocky steep slope where it can be dangerous to progress safely and easy to become disoriented. Combine that with exposure and wind, and poles make a lot of sense.

Where poles help most:

Long sustained climbs (rhythm)

Windy, open sections (stability)

Fatigue management late in the day (you still have to get back)

Hikers traverse the rocky terrain of the Laguna Torre trail in El Chaltén, Patagonia, moving across a barren valley surrounded by rugged slopes and snow-capped peaks—an iconic Patagonian trekking scene that captures the raw scale of the landscape.

Laguna Torre: the “maybe yes” hike that can feel better than Fitz Roy

Laguna Torre is a long day, but it often feels less punishing than Fitz Roy because the grade is more forgiving after the early elevation, and the route offers a lot of variety along the way. It’s also a great example of how Patagonia can change: it might be windy in town and calmer in the forest.

Laguna Torre was actually our most comfortable long day in El Chaltén. We finished it without feeling wrecked the way Fitz Roy wrecked us, which is a nice reminder that not all “big hikes” hit your body the same—and your pole decision can change depending on what you did yesterday.

If you’re someone who likes rhythm, poles can make this a smoother day. If you’re a confident hiker with good knees and you hate extra gear in your hands, you can absolutely do it without poles.

Where poles help most:

Keeping cadence on long, rolling terrain

Smoothing out tired return legs

Stability if conditions are muddy or slick

A hiker (Nomadic Samuel) stands on the rocky summit of Mirador de los Cóndores in El Chaltén, Patagonia, overlooking the town below and a winding river valley, holding camera gear while soaking in sweeping mountain views at sunset.

Los Cóndores / Las Águilas viewpoints: great, quick, and pole-optional

These are low-difficulty viewpoints often done in a couple hours, with short distances and big views over town and the surrounding landscape. This is the “I want El Chaltén energy without committing my entire skeleton to it” option.

I did Mirador de los Cóndores on our first evening and it was the perfect “welcome to El Chaltén” hike: short, steep, and wildly rewarding. We were absolutely buzzer-beating the daylight like half the town, and within 45 minutes the valley opened up into those panoramic views that make you forget you’re sweating.

Poles are optional unless:

It’s muddy or icy

You’re using poles for knee confidence

You’re carrying extra load and like the stability

The “wildcard” factor: conditions (Patagonia laughs at your plans)

Conditions change everything. The same hike can feel easy, moderate, or “why is this happening” depending on wind, mud, snow, and visibility.

A playful infographic comparing reasons hikers will love and hate trekking poles in El Chaltén, Patagonia, highlighting benefits like stability, knee-friendly descents, and confidence on tired legs, alongside drawbacks like wind juggling, rock snags, and having hands full while hiking.

Poles vs. no poles: the real tradeoffs (no shame either way)

Let’s make this honest. There are real reasons people love poles, and real reasons people leave them behind.

Reasons you’ll love poles in El Chaltén

You feel steadier on loose rock and uneven terrain

Descents feel less harsh on knees and quads

You can hike longer days with less “day-after” damage

You feel more confident when tired (which is when slips happen)

Reasons you might hate poles

You like your hands free

You find poles annoying in rock gardens (snag city)

Wind + poles can feel like juggling

You don’t like the extra arm/shoulder involvement

You’re constantly taking photos and don’t want to manage gear

This isn’t a moral decision. It’s a tool decision. If poles help you enjoy the hike more and reduce risk, use them. If poles make you annoyed and clumsy, skip them—or rent them only for the biggest day.

Buying or renting: what to choose for El Chaltén

If you’re flying internationally and trying to keep life simple, renting in El Chaltén is common and easy. If you hike often and know you like poles, bringing your own can be more comfortable and reliable.

Also, El Chaltén is wonderfully compact. Our guesthouse (Vertical Lodge) was a short walk from the bus terminal, which made everything—from gear errands to trailhead starts—ridiculously easy. If you’re on the fence, renting poles for just your biggest day is a low-effort experiment.

Quick pick guide

You are…Best optionWhyOnly hiking in El Chaltén onceRentNo need to travel with polesDoing multiple Patagonia tripsBring/buyBetter fit, reliability, familiarityUnsure if you like polesRent for big hikes onlyTest-drive before committingHiking in shoulder seasonRent or bring + consider tractionSnow/mud changes the stakesCarrying extra gearBring/rentStability and load sharing matter more

Renting in town (what to look for)

El Chaltén has multiple rental shops offering trekking poles and other mountain gear, and local resources explicitly mention renting trekking poles as a common solution to lighten your travel load. You'll find one-piece poles and LEKI three-piece poles as separate rentals (priced per pole), which makes “rent for the big day” pretty straightforward.

Before you walk out the door:

Check the locks (flick locks or twist locks should hold firmly)

Extend and compress a few times to ensure they don’t slip

Confirm tips and baskets (ask for baskets if there’s any snow/mud chance)

Make sure straps are comfortable and adjustable

If you’re tall/short, confirm the poles extend to your needed length

Prices change fast. Confirm locally.

How to choose trekking poles (without falling into gear rabbit holes)

If you buy poles, you don’t need the lightest carbon unicorn pole forged by mountain elves. You need something reliable that fits your hiking style.

The big choice: adjustable vs fixed

For El Chaltén, adjustable poles are usually the best call because you can shorten for climbs and lengthen for descents.

Folding “Z” poles vs telescoping poles

Folding poles pack smaller and deploy fast, great for travel and stashing in a daypack.

Telescoping poles are often more adjustable and can feel sturdier for some users.

An illustrated trekking pole buying matrix infographic for El Chaltén, Patagonia, breaking down essential features like reliable locking mechanisms, comfortable grips, wrist straps, weight, durability, and replaceable tips—helping hikers choose the right poles for rugged Patagonian trail conditions.

A quick buying matrix

FeaturePrioritize it if…Why it mattersReliable locking mechanismYou’ll use poles on descentsSlipping poles are chaosComfortable grips (cork/foam)You hike long daysBlisters and hand fatigue are realWrist straps that fit wellYou want less grip fatigueProper strap use mattersWeightYou hate carrying extra stuffLighter poles are easier to live withDurabilityYou’re hard on gearPatagonia rock doesn’t care about your gear budgetReplaceable tips/basketsYou hike varied conditionsMud/snow/rock all want different setups

Pole sizing: the simple rule

A common fit guideline is that when the pole tip is on the ground near your feet, your elbow should be around a 90-degree bend and the handle sits near waist/hip height. This is your starting point, not a rigid law.

How to adjust poles for El Chaltén terrain

Small changes make a big difference.

TerrainAdjust polesWhat you’re aiming forFlat/rolling trailBaseline 90-degree elbowRhythm and stabilitySteep uphillSlightly shorterKeep shoulders relaxed, plant closeSteep downhillSlightly longerExtra “brakes” and balance pointsRock gardens / bouldersOften shorterControl and quick placementMud / slick trailNormal or slightly longerStability without overreachingWindy exposed areasNormal/shorterQuick, stable plants near the body

The two-minute “pole sanity check” before a big hike

Walk 30 seconds on flat ground and make sure your elbows feel relaxed (not shrugged up like you’re doing a stress workout).

Flick your wrists and confirm the straps are supporting your hands so you can loosen your grip.

Plant the poles beside your feet a few times; if you keep overreaching, shorten slightly and keep plants closer.

Do three “mini descents” on a small slope near the trailhead: lengthen a touch, plant, step down, repeat.

If your poles slip even a little when you load them, fix the locks now.

How to use poles so they actually help (and don’t just become metal annoyances)

Use the straps correctly (this matters more than people think)

If you’re death-gripping the handles, you’ll tire your forearms and hate poles. The strap is there so your hand can relax.

If you do straps wrong, you’ll spend the day white-knuckling the grips and wondering why your forearms feel like you’ve been churning butter since breakfast. When straps are set right, your hands relax—and that’s when poles stop being annoying and start being helpful.

A common approach:

Put your hand up through the strap from below

Let the strap support your wrist/palm

Grip the handle lightly, not like it owes you money

You want “supported grip,” not “stress squeeze.”

Plant close, not far

Plant the pole tips roughly beside your feet, not way out front. Overreaching makes poles less stable and more likely to snag.

On descents: think “two extra feet”

Downhill is where poles shine. Place them slightly ahead and to the side, then step down. You’re creating a stable triangle with your body. This helps on steep rocky sections where footing is less predictable.

On climbs: use poles for balance, not brute force

On steep climbs, poles can help you keep an upright posture and steady rhythm. You don’t need to pull yourself up the mountain like you’re rowing. Think “support and cadence,” not “arm-powered summit attack.”

A playful infographic showing common trekking pole mistakes in El Chaltén, Patagonia, from poles getting stuck in rocky terrain to painful over-gripping and clunky movement, along with practical fixes that help hikers use poles smoothly and confidently on mountain trails.

Common mistakes (and how to avoid them)

“My poles keep getting stuck between rocks”

Shorten them slightly in rock gardens and plant more vertically. Also: don’t plant in obvious cracks unless you enjoy sudden stops.

“My hands hurt”

Check grip size, strap setup, and whether you’re over-gripping. Foam grips can be more forgiving for sweaty hands.

“I feel clunkier with poles”

Try poles on an easy hike or viewpoint trail before using them on the steepest day. The goal is muscle memory, not improvisation on a scree slope.

What about trekking poles and Leave No Trace?

Poles are useful. They can also scar rocks, poke holes in fragile vegetation, and chew up muddy trails if you’re not mindful. Leave No Trace guidance emphasizes minimizing impact, especially on wet and muddy trails, and using rubber tips when appropriate to reduce scarring on rock.

El Chaltén is stunning because it’s still wild. Keep it that way:

Use rubber tips where they reduce scarring (especially on rock-heavy sections)

Stay on established trails

If the trail is very muddy, step through the mud instead of widening the trail around it

Be mindful passing others (poles swing; knees do not enjoy surprise jabs)

Poles + shoulder season: when they jump from “nice” to “smart”

If you’re hiking in autumn or spring, you may encounter snow, mud, or icy patches—especially near higher viewpoints and steep final sections. Local trail guidance explicitly warns that these conditions can appear toward the end of routes like Laguna de los Tres and Pliegue Tumbado, where steep rocky slopes can become dangerous.

In those conditions, poles do two important things:

Provide additional stability on slick terrain

Help you move more deliberately, especially when visibility is poor

Can you fly with trekking poles?

Rules vary by country and by how security interprets your pole tips. In the U.S., TSA guidance states blunt-tipped hiking poles are allowed in carry-on or checked bags, while sharp-tipped hiking poles are not allowed in carry-on luggage.

Internationally, enforcement can differ. If you want to avoid drama:

Pack poles in checked luggage when possible

Use tip protectors

If you’re traveling light, renting in El Chaltén is the simplest path

The “we’re just being honest” verdict

So… do you need trekking poles in El Chaltén?

Yes… for some hikes and some bodies.No… for other hikes and other bodies.And “maybe” for everyone who thinks they’re fine until kilometer nine reminds them gravity is undefeated.

If you’re doing the biggest hikes (Fitz Roy / Pliegue Tumbado), if you’re hiking in shoulder season, if your knees have opinions, or if you’re stacking multiple big days, poles are a smart call. If you’re keeping it mellow with viewpoints and shorter trails, poles are optional.

Our biggest lesson from El Chaltén is simple: bring the tools that help you stay safe and enjoy the day. Nobody gets a prize for suffering unnecessarily—except maybe a personal sense of pride and a bigger appetite at Senderos.

Practical pre-hike checklist infographic for El Chaltén, Patagonia, outlining essential steps before big hikes: checking trail conditions, packing extra snacks, ordering lunchboxes, bringing wind layers, starting early, inspecting trekking pole locks and straps, and considering traction when trails are slippery.

Quick pre-hike checklist (the boring stuff that saves your day)

Check trail status and conditions before you commit to a big hike

Pack more snacks than you think you need (future-you is hungry)

If your accommodation offers lunchboxes, order the night before for full-day hikes

Bring layers for wind and sudden temperature changes

Start early for full-day hikes (daylight is your friend)

If using poles: check locks, tips, straps, and adjust before the steep section

If conditions are slick: consider traction + poles instead of wishful thinking

Trekking Poles in El Chaltén FAQ: What to Bring, When You’ll Want Them, and How to Use Them Without Looking Like a Baby Giraffe

Do I need trekking poles for Laguna de los Tres (Fitz Roy)?

Maybe. Not because it’s impossible without them, but because the steep, rocky final section and the long descent are exactly where poles shine—especially if you’re tired, it’s slick, or your knees have strong feelings.

Do I need trekking poles for Laguna Torre?

Maybe. If you like steady rhythm, want help on the return leg, or you’re hiking after another big day, poles are helpful. If you’re confident on uneven trails and prefer free hands, you can skip them.

Are trekking poles worth it if I’m only doing Los Cóndores / Las Águilas?

Probably not necessary. Those trails are short and low difficulty. But if it’s muddy/icy or you want extra knee confidence, poles can still be nice.

Do trekking poles actually help your knees on descents?

Yes. The main benefit many hikers feel is on downhill sections, where poles act like extra brakes and help reduce load on the lower body.

Will trekking poles make me hike faster?

They can, but that’s not always good. Poles can give you rhythm and confidence, which can push your pace. If you go too fast early, you’ll pay later. Patagonia always collects.

Are poles annoying in strong Patagonian wind?

Sometimes. If the wind is wild and you’re constantly adjusting layers, poles can feel like juggling. The trick is planting close to your body and using poles mainly for stability, not speed.

Should I use one pole or two?

Two. Using a pair gives you symmetry, stability, and better downhill support. One pole can help, but two is the real upgrade.

What’s the best way to adjust poles for downhill?

Slightly longer than your flat-trail setting. You want extra reach so the poles can act as brakes without forcing you to hunch.

How do I use the wrist straps correctly?

Think “strap supports the hand, hand lightly grips the handle.” If you’re death-gripping, you’ll tire fast and wonder why poles exist. Adjust straps so they carry some of the load.

Can I rent trekking poles in El Chaltén?

Yes. Multiple local rental shops offer trekking poles, and it’s a common way to avoid traveling with gear.

Should I bring poles from home or rent locally?

If you hike often and love your poles, bring them. If you’re unsure, renting is the easiest test. If you’re traveling light, renting is the simplest plan.

What kind of pole is best: carbon or aluminum?

It depends. Carbon is lighter but can be less forgiving in certain impacts. Aluminum is often more durable for rough handling. For most travelers, reliable locks and comfort matter more than material.

Do trekking poles damage trails?

They can. Be mindful on muddy trails, avoid widening trails, and consider rubber tips where they reduce rock scarring. Use poles as tools, not spears.

What if I don’t want poles—what can I do instead?

Nope. You’re not doomed. Prioritize good footwear, pace yourself, take breaks, and be extra careful on steep descents. In shoulder season, traction devices can matter more than poles—but poles still help balance.

#### Eating Thai Food: Guide to Thai Cuisine Interview with Mark Wiens
Recently I had the pleasure of meeting up with Mark Wiens in Seoul, South Korea.  As an expert in travel and food in Asia, it was Mark's first time to Korea and I figured nothing short of a traditional feast in Seoul would be sufficient.  Mark runs the ever popular Migrationology travel blog showcasing his passion for travel and food.  

I'm often dreaming of Thailand these days and I couldn't think of a better person to interview regarding eating Thai cuisine:

Why Is Thai Food So Popular?

Q1)  I've often heard individuals mention Thai food as their favourite cuisine.  What do you think sets it apart from others and makes it one of the most popular destinations for tourists?

I think it's the range of vibrant flavors that makes Thai cuisine so remarkable and appetizing. Nearly every Thai dish is balanced in flavor, a little sour, spicy, salty, and a often a sweet aftertaste. All your taste buds alive and aroused with each bite is why so many people love Thai food!

Another reason would be the fresh ingredients, the herbs like holy and sweet basil, lemongrass and kaffir limes leaves, and other tropical ingredients like fresh coconut milk and wonderful fruit.

Eating Thai Food Website: Mark Wiens

Q2)  Many know you from you flagship travel blog Migrationology but you've also got another fantastic site Eating Thai Food.  What inspired you to make this site and what can readers expect to find?

When I first started blogging I was traveling all around, but eventually I decided to remain in Thailand (mostly Bangkok) on a long term basis. After staying in Thailand for a few months I soon realized I had so many Thai food photos and Thai dining experiences that there was no way to publish it all on my original blog.

A passion for eating paired with so much Thai food content was the reason for beginning a site strictly dedicated to eating all sorts of delicious Thai food. You can expect to find top Thai food lists, restaurant reviews (mostly Bangkok), tips on how and what to order, and lots of food photos to get you excited about exploring Thai cuisine!

What Thai Street Food Should Visitors Try First?

Q3)  One cannot sepearte Thai cuisine from street food.  What are some dishes you recommend to others experiencing Thai food on the streets of Bangkok for the very first time?

You're right about that, Thai street food is everywhere you look and it's quick, convenient and delicious.

Here are a few of the most popular local Thai dishes you shouldn't miss in Bangkok:

Pad Gaprao Gai Kai Dao (Stir fried chicken with holy basil and a fried egg on top) - This is like the hamburger of Thailand, a tasty dish that's widely available and easy to eat on the go.

Kuay Teow Tom Yum (Noodles in hot and sour soup) - Hot noodle carts can be found on just about every street in Bangkok serving freshly boiled noodles in flavorful broth. It's then up to you to add vinegar, chili flakes, fish sauce, or even a spoon of sugar to make it taste even better!

Som Tam Thai (Green papaya salad) - The texture of the green papaya is crisp and it is dressed in lime juice and fish sauce and laced in chilies for an extra kick you'll love!

Bold and Spicy Thai Food!

Q4)  For those who are bold (in terms of their willingness to try exotic or spicy delicacies) what are some dishes that you would recommend? 

First of all, if you really enjoy eating spicy, you can bump up the heat by ordering everything "phet mak mak," or very spicy!

Here are a couple dishes you should try if you're looking for exotic or hot dishes:

Goong Dten - Translated to "dancing shrimp," that's exactly what it is - live mini shrimp are mixed with dressing and served still wriggling as you eat them !

Larb Neua Dip - You may have heard of normal larb (common minced pork salad), but there are other versions, like this one made with raw beef and blood.

Som Tam Pla Raa - Som tam as mentioned above is Thai green papaya salad, but instead of that limey fresh dressing like in the other version, this variety includes the famous "pla raa," or pickled preserved fish. The flavor is pungent and can be intense.

Hardcore Backpacker Meal Plan In Bangkok

Q5)  What do you think is the ultimate meal plan for a hardcore budget backpacker with adventurous tastebuds roaming around Bangkok for the day?

Stick to the streets and get away from the main touristy areas of Bangkok to eat. Head into one of the local fresh markets like Khlong Toey or Pak Khlong Talat where you can find great local style food on the cheap. Look for street stalls that are buzzing with lots of action so you know the food is fresh and good.

If you're really on a budget, you may want to go to a "khao rod gaeng," stall that serves rice and a variety of pre-made curries. You can get a huge plate of rice and a few different dishes on top for 25 to 35 THB (around $1).

Thai Sweet Tooth: Thai Desserts

Q6)  For those with a sweet tooth, what are some dishes they could sample to fix that craving?

If you enjoy sweets, you'll have the time of your life in Thailand as there is such a variety of desserts and sweet snacks. Many Thai desserts are flavored with fruit and rich coconut cream.

Khao Neow Mamuang (Sticky rice and mango) - One of the most prized Thai desserts is sweet sticky rice paired with ripe yellow mango and doused in coconut cream. I also love Khao New Toorien - durian replacing the mango!

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Khanom Takoh (Coconut cream pudding)

Fuktong Sangkaya (Pumpkin filled with egg custard)

Itim Gati (fresh Thai coconut ice cream, sometimes served with sticky rice and roasted peanuts)

Learning How To Cook Thai Food

Q7)  Eating Thai food back home can be pricey at times.  Do you have any suggestions for a farang looking to master a few dishes before heading back home?

While Thai food and cooking really focuses on balancing all flavors, it's really up to the personal eater (or chef) to determine what's balanced.

Thais often order their dishes exactly to their liking, extra sour or sweet or extra spicy. For this reason it's important to get a feel for what Thai food should taste like, and when you cook it's necessary to sample until each dish is the way you want it to taste.

Thai cooking is not only about using the right amount of ingredients, but also about using the correct levels of heat and methods of preparation. For instance grinding chilies and garlic with a mortar and pestle really makes a difference to bring out the flavor!

Overall, have fun with Thai cooking and make everything so it's most appealing to yourself or whoever you're cooking for!

What Is The Ultimate Thai Meal

Q8)  Finally, this is an unfair question but what would be your ultimate full course Thai meal if you had to make such a decision?

This is a jumbled mixture of different dishes from around the country, so it would be hard to actually eat all these dishes in one single restaurant meal, but here are a few of my favorites!

Pla Chon Lui Suan - Steamed snakehead fish with vegetables and herbs

Pad Sata - Stir fried sink beans!

Gaeng Som - Hot and sour southern Thai soup (a southern Thai food staple)

Pad Pak Gachet - Stir fried water mimosa

Nam Prik Kaphi - Shrimp paste chili sauce eaten with fresh or steamed vegetables

I'd end my meal with a mega chunk of fresh durian!

How to Eat Thai Food Without Getting Completely Overwhelmed

Heat, traffic, tuk-tuks, and then suddenly a tiny cart on the corner is turning out stir-fries that taste better than most restaurants back home. The good news is: you don’t need to be an expert or a food blogger to eat really, really well in Thailand.

You just need a loose game plan.

Think of Thai food as a set of levers you can play with: sweet, sour, salty, spicy, crunchy, fresh. When you mix a couple of dishes at each meal, you start to understand why people get hooked for life.

Let’s break it down in a way that helps you actually plan your trip and your meals, not just drool over photos.

Bangkok as Your Thai Food Bootcamp

If you’re flying into Thailand for the first time, Bangkok is basically your orientation camp for Thai flavours. It’s chaotic, yes, but it’s also where you can sample dishes from all over the country in one day if you want.

Choosing a Food-Friendly Base in Bangkok

You can eat well almost anywhere in Bangkok, but some neighbourhoods make life easier when your main daily objective is “what are we eating next?”

Here’s a simple way to think about a few popular bases:

AreaVibeFood HighlightsBudget FeelOld Town (Rattanakosin)Temples, riverside, old shophousesClassic shophouse restaurants, noodle stalls, local sweetsLow–MediumChinatown (Yaowarat)Neon, chaotic, night street foodSeafood, noodles, roast duck, dim sum, dessertsLow–High (wide range)Sukhumvit (Asok–Thong Lo)Modern, expat-heavy, BTS accessTrendy restaurants, cafes, street stalls in side soisMedium–HighVictory Monument / AriLocal, commuter, everyday BangkokNoodle shops, boat noodles, cheap canteensLow–MediumKhao San AreaBackpacker centralTourist-aimed Thai, some good stalls on side streetsLow–Medium

If your main goal is food and you’re not terrified of a bit of chaos, Chinatown after dark is a great initiation. For a softer landing with lots of options and easy metro access, Sukhumvit does the job.

A One-Day Thai Food Game Plan in Bangkok

Use this as a template for your first full “eat Thai all day” experience.

Breakfast: Rice, Noodles, or Something Sweet

Thais don’t really have “breakfast food” the way we do. They just eat. That’s good news for you.

Look out for:

Jok (rice porridge) with minced pork and egg

Khao kai jeow – crispy Thai-style omelette over rice with chili sauce

Simple noodle soups with fish balls or pork

If you’re easing in: toast and coffee at a local café plus a small bag of fried dough sticks

If your hotel buffet has rice dishes and curries, don’t be shy about going savoury early. It sets the tone for the day.

Late-Morning Market Snack

Head to a fresh market or a local wet market.

You’re hunting for:

Bags of cut tropical fruit (mango, pineapple, guava)

Small grilled skewers (pork, chicken, fish balls)

Fresh herbal drinks or iced teas

Eat little, but often. You don’t want to fill up before lunch. There is always another bowl of something waiting around the corner.

Lunch: Your First Proper Street Stall Feast

By lunchtime, pick a busy corner shop or stall. Busy is the keyword.

Easy “first lunch” options:

Pad kraprao gai kai dao – basil chicken and fried egg over rice

Kuay teow tom yum – tom yum noodle soup with your choice of noodles

Khao man gai – chicken rice with clear soup

If there’s a stall with trays of curries and stir-fries (khao gaeng), point, smile, and let them heap two or three dishes over rice. Budget-friendly. Hugely satisfying.

Afternoon Coffee and Thai Sweets

When the heat peaks, duck into:

A café for iced coffee or Thai tea

A stall with khanom (Thai sweets): coconut puddings, pumpkin custard, or anything wrapped in banana leaf

Sticky rice pops up here too: coconut sticky rice with grilled banana, or later in the day mango sticky rice if it’s mango season.

Dinner: Shared Dishes and Cold Drinks

Dinner is when you can start thinking in terms of “spread” instead of one plate.

A good dinner for two or three people might look like:

1 spicy salad (som tam or larb)

1 stir-fry (morning glory, water mimosa, or basil pork)

1 curry (green curry, panang, or gaeng som if you’re feeling bold)

Steamed rice for everyone

If you’re near a night market, add skewers and snacks on top of that: grilled chicken, sausages, little coconut pancakes.

You’ll sleep well.

Ordering Like You Know What You’re Doing

Half the fun of Thai food is ordering. The other half is eating. Learning a couple of phrases goes a long way.

Simple Thai Food Phrases That Actually Help

You don’t need full sentences. You just need these magic words:

Phet nid noi – a little spicy

Mai phet – not spicy

Phet mak mak – very spicy

Aroy mak – very delicious

Khao – rice

Gai (chicken), moo (pork), neua (beef), goong (shrimp), pla (fish)

So you can say something like:

“Pad kraprao gai, phet nid noi” – basil chicken stir-fry, a little spicy

“Tom yum goong, mai phet” – shrimp tom yum, not spicy (it will probably still have a kick)

Smile, point, and don’t be afraid to laugh at yourself a bit. People are generally pretty forgiving when you’re clearly trying.

Balancing a Thai Meal: How to Mix Dishes

The easiest mistake is to order three spicy dishes and then wonder why you’re sweating through your shirt.

Think in categories:

Dish TypeFlavour FocusExample DishWhen to Add ItSpicy saladSour, spicy, saltySom tam, larb, yum seafoodTo wake up your palateStir-frySavoury, garlickyPad kraprao, pad pakYour “comfort” dish with riceCurryRich, aromatic, sometimes sweetGreen curry, massaman, panangFor depth and warmthSoupLight or fiery, aromaticTom yum, tom kha, gaeng somTo balance a dry spreadSide veg / greensMild, crunchy, garlickyStir-fried morning gloryTo give your tongue a break

For two people, one dish from three different rows plus rice is a nice balance. For four people, you can happily go up to five or six dishes without overdoing it.

Regional Thai Food Roadmap

One of the best things about Thailand is that “Thai food” isn’t one thing. The flavours shift as you move around the country.

Using Bangkok as your classroom, you can then fan out and chase regional specialities.

Central Thailand & Bangkok

Flavour profile: balanced, a bit of everything, classic dishes you see in cookbooks.

What to look for:

Tom yum goong – hot and sour prawn soup

Green curry – coconut-based, usually with chicken or fish balls

Pad thai – yes, there is good pad thai, especially at busy local stalls

Boat noodles – rich, aromatic noodle soups, often around canals or specific markets

Expect:

Plenty of rice and noodle dishes

A mix of sweet, sour, and mildly spicy

Lots of choice on every corner

Northern Thailand (Chiang Mai, Chiang Rai)

Flavour profile: aromatic rather than blisteringly spicy, smoky, herbal.

Dishes to hunt down:

Khao soi – coconut curry noodle soup with crispy noodles on top

Sai ua – grilled northern sausage, full of herbs and chilies

Nam prik ong / nam prik num – chunky chili dips with vegetables

Gaeng hung lay – Burmese-influenced pork curry

Market nights here are gold. Live music, grilled meats, bowls of khao soi, and mango sticky rice for dessert.

Isaan (Northeast Thailand)

Flavour profile: bold, sour, spicy, lots of grilled meat and sticky rice.

Signature foods:

Som tam in all its forms: with peanuts, with salted egg, with fermented fish

Gai yang – grilled chicken with dipping sauces

Larb and nam tok – minced meat salads bursting with lime, chili, and herbs

Sticky rice with almost everything

This is the region you’re channeling when you tell someone you “love real spicy Thai food” and then sweat through your shirt five minutes later.

#### El Chaltén Travel Guide: Best Things to Do in the Hiking Capital of Patagonia, Argentina
El Chaltén is the kind of place that makes you feel athletic just by stepping off the bus. The mountains loom. The air smells like cold water and sun-warmed dust. And everybody you meet looks like they were born wearing a softshell jacket.

And yet Audrey and I showed up… in full foodie mode.

Laguna Capri, El Chaltén, Patagonia, Argentina: Nomadic Samuel takes in the Fitz Roy skyline from the iconic lakeshore lookout on the Laguna de los Tres route—our favorite ‘stop and breathe’ moment before deciding whether to push on or call it a perfect half-day win.

Our jeans were staging a quiet protest. We were “rotunding,” as we lovingly called it, and we were absolutely not the best versions of ourselves. But we had six nights in Patagonia’s trekking capital, an irresponsible amount of daylight, and Mount Fitz Roy calling our name. So we did what any sensible travel couple would do: we ate pizza, bought groceries, panicked about Wi-Fi, then immediately marched up a steep little hill for a sunset viewpoint like we were training for an expedition.

Audrey Bergner at Laguna de los Tres, El Chaltén, Patagonia, Argentina: the spectacular payoff after hours of hiking through wind, forest, and moraine. With Fitz Roy and the glacier-tinted turquoise lake behind her, this is Patagonia’s most iconic “we actually made it” moment.

That’s El Chaltén in a nutshell. It’s equal parts jaw-dropping landscape and practical logistics. It’s a town designed around hikes, weather windows, and the sacred post-trek meal. And if you’re building a trip around El Chaltén, you don’t need to be an elite hiker—but you do need a plan, a sense of humor, and a healthy respect for the wind.

This is the travel guide to our El Chaltén series: hopefully a lethal combo of personal experience, quirky storytelling, and the practical details that make the difference between “best trip ever” and “why are we eating granola bars whilst getting blasted by wind?”

Nomadic Samuel and Audrey Bergner hiking in El Chaltén, Patagonia, Argentina—soaking up the mountain air and loving the rhythm of life on the trail. With Fitz Roy’s distant peaks ahead and lush Patagonian forest all around, this was one of those pure “we’re exactly where we should be” travel moments.

Planning snapshot

El Chaltén sits at the northern end of Los Glaciares National Park and functions like a hiking basecamp with espresso machines. Your daily rhythm is simple: wake up, check the sky, eat something that won’t betray you on a climb, hike until your legs file a formal complaint, then refuel with carbs and existential gratitude.

A visual snapshot of El Chaltén travel essentials — this infographic breaks down ideal trip length, trekking vibe, Patagonia’s famous wind challenges, realistic fitness expectations, and smart planning tips, all set against the dramatic Mount Fitz Roy skyline.

🧾 Quick Booking: Your El Chaltén Travel Essentials 🥾✨

🎒 Your Travel Toolkit (Book These 4 Things)

✅ What to book💡 Why it’s worth it🔗 Quick link🥾 Tours & experiencesEasy way to lock in a glacier day, a Lago del Desierto adventure, or a guided option when weather turns moodyBrowse El Chaltén tours on Viator🏨 Hotels & staysEl Chaltén sells out fast in peak season — booking early = better locations + fewer “only the priciest rooms left” momentsFind El Chaltén hotels on Booking.com🚗 Car rentals (optional)Best for freedom days: Ruta 40 viewpoints, flexible timing, photo stops, and a smoother Lago del Desierto runCompare car rentals in El Calafate (gateway to El Chaltén) on DiscoverCars🚌 Bus ticketsThe classic El Calafate ↔ El Chaltén route is simple — but popular departure times fill upBook El Calafate → El Chaltén buses on Busbud

👉 One-click backup (reverse direction): Book El Chaltén → El Calafate buses on Busbud

El Chaltén in one table

TopicWhat to knowOur takeIdeal stay4–6 nights if you want the classics without rushingWe stayed 6 nights and finally stopped feeling behindBest vibeDIY trekking, big mountain views, frontier town energyIt feels like a colorful little oasis surrounded by teethy peaksBiggest challengeWind + rapidly changing conditionsPatagonia keeps you humble and makes your hood the main characterFitness realityYou don’t need to be ultra-fit, but big hikes will punish “foodie mode”We survived, but we also fantasized about being carried out on a sedan chairPlanning must-doBuild in rest days and weather buffersThe mountain doesn’t care about your schedule

Iconic Mount Fitz Roy towering above El Chaltén, Patagonia — a dramatic panorama of jagged granite spires, snow-draped ridgelines, and passing clouds that defines the legendary scenery of Argentina’s hiking capital and rewards every trekker who makes the climb.

What first-timers get wrong (so you don’t)

Packing a single “nice day” plan. El Chaltén is a “Plan A / Plan B / Plan C” destination.

Underestimating how much daylight tempts you into doing too much. A late sunset does not mean your legs have extended daylight hours too.

Treating the big hikes like casual strolls. They’re doable, but they’re real.

Skipping snacks. We once fueled a massive day on “one granola bar and candy,” which is not a nutrition strategy so much as a cry for help.

A sweeping view of a towering glacier in Los Glaciares National Park near El Chaltén — fractured blue ice, deep crevasses, and roaring silence combine to create one of Patagonia’s most humbling natural spectacles.

Decision matrix: pick your El Chaltén vibe

Your vibe todayDo thisTimeLegs requiredWind toleranceWhy it works“We need a big iconic win.”Fitz Roy / Laguna de los Tres dayFull dayHighMedium–HighThe signature “wow” that makes you forgive everything“Scenic but kinder.”Laguna TorreFull dayMediumMediumHuge views without the same final-wall brutality“Short hike, big payoff.”Mirador de los Cóndores (sunset)1–2 hrsLow–MediumMediumSteep but short; instant “we’re in Patagonia!” moment“Easy nature, minimal suffering.”Chorrillo del Salto1–2 hrsLowLow–MediumWaterfall reward with a mellow effort-to-payoff ratio“Recovery day. Please.”River walk + cafés + admin2–5 hrsVery lowLowKeeps you moving without wrecking tomorrow“Weather hates us.”Museums/chapel + coffee crawl + planning2–4 hrsVery lowNoneYour Plan B that still feels like a real day

Audrey Bergner pauses proudly on the Laguna Torre trail in El Chaltén, Patagonia, framed by lenga forest and the dramatic snow-covered Cerro Torre massif — a perfect snapshot of the classic hiking experience in Argentina’s trekking capital.

Best things to do in El Chaltén: the hikes

El Chaltén is not a “do one hike and leave” destination. It’s a place where you stack days, learn the rhythm of the trails, and slowly become the kind of person who says things like “Let’s just check the wind at the portal” with a straight face.

To make this guide useful, we’re grouping hikes by effort level and payoff:

Iconic full-day hikes: the reason most people come.

Medium adventures: big scenery without maximum suffering.

Easy walks + viewpoints: short, sweet, and wildly satisfying.

https://youtu.be/V3sbqsXetEQ

Iconic full-day hike #1: Mount Fitz Roy + Laguna de los Tres (aka “the one that humbled us”)

If El Chaltén is the hiking capital, Laguna de los Tres is the national anthem. This is the hike that fills your camera roll, drains your legs, and makes you feel like you accomplished something slightly unreasonable.

I started the day feeling brave. Too brave. The kind of brave that comes from long daylight and optimistic snack math.

A close-up of the Laguna de los Tres trail marker in El Chaltén, Patagonia — the classic “Senda Fitz Roy Km 3 de 10” wooden sign that keeps hikers oriented on the long but rewarding trek toward Mount Fitz Roy, one of Argentina’s most iconic mountain adventures.

One of the things we loved about trekking in El Chaltén is the kilometer markers. They’re small, but psychologically huge. They tell you exactly where you are in the story. At kilometer 3 you feel heroic. At kilometer 8 you start bargaining with your life choices. At kilometer 9 you realize you’ve entered the “last kilometer” stage of the journey—except that last kilometer is basically a steep, rocky negotiation with gravity.

What the hike feels like (from our very non-elite perspective)

Early-morning hikers on the Laguna de los Tres trail in El Chaltén, Patagonia — a quiet start on the rocky path toward Mount Fitz Roy, with lenga forest, fresh air, and snow-draped peaks setting the scene for Argentina’s most legendary full-day trek.

The early kilometers are steady and scenic. You get viewpoints, forests, and that growing sense of “Oh wow, the mountains are actually revealing themselves.” If you only hike as far as Laguna Capri, you already get a ridiculous Fitz Roy view and you get to keep your soul intact.

At Laguna Capri we hit the campground facilities, sat down for a snack break, and had a very real couple-conference about whether to push onward. The near-10 p.m. summer light made us feel invincible… which is a dangerous emotion to have in Patagonia.

Audrey Bergner presenting the breathtaking Laguna Capri viewpoint in El Chaltén, Patagonia — a vivid turquoise lake reflecting Mount Fitz Roy’s jagged peaks, offering one of Argentina’s most rewarding mid-hike stops and a perfect introduction to the legendary trekking scenery of Patagonia’s hiking capital.

Then comes the final push to Laguna de los Tres. The word “steep” begins to feel inadequate. The trail turns into loose rock, gravel, and a kind of upward crawling that makes you intensely aware of your knees.

Audrey and I were exhausted at this points. There were moments where we could have used trekking poles, and there were moments where encouragement from hikers coming down was the only thing keeping us going.

El Chaltén, Patagonia, Argentina: Nomadic Samuel joins the hiking train across the rocky moraine for the final push to Laguna de los Tres. With Fitz Roy’s jagged spires looming above the glacier, this is the classic “one more switchback” section where the views get insane and your calves start filing formal complaints.

And then you crest the top and the lagoon is there, waiting just for you. The wind can be beyond belief, but the view is so astonishing you forgive the wind for being the wind.

El Chaltén, Patagonia — Nomadic Samuel and Audrey Bergner snap a summit selfie at Laguna de los Tres, grinning in the fierce mountain wind as Mount Fitz Roy towers above the turquoise glacial lake. This is the unforgettable payoff moment on Argentina’s most iconic hike.

I ended up ducking behind rocks to escape the worst of the wind, inhaling our remaining snacks like it was a survival exercise. We also did the classic “wind in our faces” selfie—because if Patagonia is going to humble you, it should at least be documented.

Otherworldly views at the payoff point of the Laguna de los Tres hike in El Chaltén, Patagonia — a brilliant turquoise lake framed by glaciers and Mount Fitz Roy’s needle-like peaks, proving every steep step of Argentina’s most famous trek is absolutely worth the effort.

Our biggest takeaway

This hike is absolutely worth it… but it is not a casual stroll. The first stretch can be “intermediate” for reasonably fit people. The last section is where it really tests you. If you’re not a regular hiker—if you arrived like us, in full foodie mode—you will feel the tightness the next day.

The “don’t do what we did” food note

We were ravenous. Our “fuel plan” at one point was basically “one granola bar and candy,” which is not a plan. Bring real snacks and enough water. Your future self will thank you. We brought a lunchbox but ate it too early. We definitely could have loaded up with more (and better) supplies.

El Chaltén, Patagonia — Nomadic Samuel appears almost miniature on the trail as the jagged peaks of Mount Fitz Roy dominate the horizon. This kind of dramatic scale is what makes hiking in Argentina’s trekking capital feel truly otherworldly.

The walk back (and the sedan chair fantasy)

On the way back, we were spent. The kind of spent where you put the cameras down and walk in silence. There were points where we weren’t taking breaks out of convenience, but because our legs were genuinely refusing to function.

At one point I remember fantasizing: what would it be like to be carried out on a sedan chair right now? What if we called the emergency number and requested an airlift? (To be clear: a joke. A dramatic, theatrical, “my quads have left the chatroom” joke.)

Our feet were aching. Throbbing. But we made it back to town, and that’s when El Chaltén revealed its second superpower: food.

El Chaltén, Patagonia — Nomadic Samuel’s blue cheese risotto at Senderos, topped with toasted walnuts and artistic beet drizzle. Gourmet meals like this are a delicious reward after long hiking days in Argentina’s trekking capital.

Post-hike reward: Senderos (our “hidden gem” dinner)

We found this small restaurant called Senderos near the bus terminal, tucked inside a high-end guesthouse. It felt boutique and intimate—like six or seven tables—so when we walked in they seemed mildly surprised, as if we had crawled out of the mountains and into their dining room purely on instinct.

I had a blue cheese risotto with walnuts and sun-dried tomatoes. Audrey went for a hearty lentejas. We split a full bottle of Syrah (taking a very rare break from Malbec). Then we made the extremely responsible decision to order two desserts.

We waddled back and were in bed by around 8:00 or 8:30 p.m. We slept something like 10–12 hours. Patagonia doesn’t just give you big hikes—it gives you big sleep.

Practical tips for Laguna de los Tres

Start early. Not because you need the daylight, but because you want a calmer trail and more buffer for breaks.

Consider trekking poles for the final steep section.

Bring layers. The top can feel dramatically different from town.

Decide your turnaround point before you’re exhausted.

If you’re not feeling it, do Laguna Capri as your “smart compromise” and still go home with a Fitz Roy win.

👉 Check out El Chaltén hotels, resorts and lodges on Booking.com

https://youtu.be/TJZ-lgmwE2Q

Iconic full-day hike #2: Laguna Torre (big scenery, kinder vibes)

Laguna Torre is the hike we recommend when someone says, “We want a full day out, we want to see something spectacular, but we also don’t want to be destroyed tomorrow.”

El Chaltén, Patagonia — Audrey Bergner stands proudly beside the Senda a Laguna Torre trailhead sign, the starting point for the legendary Laguna Torre hike. Trailhead moments like this capture the excitement before stepping into Patagonia’s wild mountain landscapes.

It’s still a long day. It’s still Patagonia. But for us, it felt more manageable than Laguna de los Tres—less “final boss,” more “steady quest with a gorgeous payoff.”

I went into Laguna Torre with legs that were still recovering from a 20+ km Fitz Roy day—but we woke up to perfect weather and told ourselves this was the “easier” 18 km choice. (Reader: it was still 18 km.)

El Chaltén, Patagonia — Nomadic Samuel walks through the twisted lenga forest on the Laguna Torre trail, where wind-shaped trees and fallen trunks create an almost haunted atmosphere. Scenes like this make Patagonia’s hiking trails feel wild, remote, and unforgettable.

What we loved about this hike

The scenery changes along the way: forest, valley views, and that feeling of moving deeper into the mountain world.

The payoff is stunning, especially if the weather cooperates.

It felt like a hike we could actually enjoy while still walking at a human pace.

El Chaltén, Patagonia — Cascada Margarita cascades down a dramatic rock wall wrapped in bright green moss, offering a refreshing and photogenic stop

Early on we caught Cascada Margarita thundering down in sections, and once we got into the forest the wind finally stopped trying to fight us personally. That sheltered feeling made the whole day calmer—more “scenic quest,” less “hood-flapping endurance sport.”

A note on weather windows

Patagonia loves mood swings. One day can be warm and calm, the next can feel colder, rainier, and significantly windier. For this reason, Laguna Torre is the perfect example of why you don’t schedule every day like it’s a guarantee. If the weather looks spicy, you can swap this hike with a rest day or a shorter viewpoint day without losing the plot.

When we reached Laguna Torre, Cerro Torre was hiding in dense cloud and the water looked cold and murky—with a few little icebergs drifting near shore like tiny reminders that you’re in a serious landscape. We wandered over to the De Agostini campsite, and briefly romanticized the campers cooking ramen. Could you please share with us?

El Chaltén, Patagonia — Audrey Bergner hiking the Laguna Torre trail as dramatic Patagonian peaks rise in the distance. Scenic forest paths like this make the journey to Laguna Torre just as memorable as the final viewpoint.

Practical tips for Laguna Torre

Pack more snacks than you think you need.

Bring a wind layer that you actually trust.

Don’t treat “it looks fine right now” as a weather forecast.

If you’re feeling sore, keep your pace slow and steady and treat it like a scenic long walk rather than a race.

El Chaltén, Patagonia — eerie white lenga tree trunks create a hauntingly beautiful forest landscape, a reminder that hiking here isn’t just about mountain views but also discovering strange, delicate, and unforgettable natural textures along the trails.

Medium adventures: big rewards without maximum suffering

Not every day needs to be a heroic suffer-fest. El Chaltén is best when you mix big hikes with medium days, so your body can keep up with your ambition.

Medium-hike decision table

HikeBest forTimeEffortPayoffNotesLaguna CapriFitz Roy views without doing “the last kilometer”Half dayMediumHighYour smart alternative or add-onChorrillo del SaltoEasy-to-moderate waterfall win1–2 hrsLowMedium–HighGreat in mixed weatherMirador de las Águilas add-onExtending the viewpoint day2–3 hrsLow–MediumMediumCombine with Los Cóndores for a loop vibe“Choose-your-own loop” town circuitsGentle movement and photos1–2 hrsLowMediumIdeal for arrival days and rest days

El Chaltén, Patagonia — Audrey Bergner at the Laguna Capri viewpoint, smiling beside the lake as Mount Fitz Roy dominates the skyline. It’s one of the most rewarding and accessible hikes in Argentina’s trekking capital, delivering postcard-perfect scenery without the full Laguna de los Tres climb.

Laguna Capri: the “we still got Fitz Roy” option

If you want a meaningful mountain day without committing to Laguna de los Tres, Laguna Capri is your friend. You’ll still get those iconic Fitz Roy views and that “Patagonia delivered” feeling, but you’ll finish with enough energy to enjoy the rest of your day like a functioning person.

This is also a perfect “Plan B” if you start the big hike and realize early that you’re not feeling it. Turning around is not failure; it’s strategy.

El Chaltén, Patagonia — Chorrillo del Salto roars down a dramatic rock face into a crystal-clear stream, an easy and family-friendly waterfall hike offering big scenery without the big effort just minutes from town.

Chorrillo del Salto: the waterfall that loves your rest day

Chorrillo del Salto is the kind of hike you do when you want something outside, something scenic, and something that doesn’t turn your legs into noodles. It’s also a fantastic arrival-day or recovery-day activity because it feels like a proper outing without demanding a full-day commitment.

On our final days, after all the big hiking, we did Chorrillo del Salto and then pushed ourselves onward to Mirador de las Águilas (Mirador de los Cóndores redo)—because apparently we only learn moderation slowly.

https://youtu.be/wselXYT-3N0

Easy walks and viewpoints: tiny effort, ridiculous scenery

This is where El Chaltén becomes addictive. You don’t always have to commit to a full-day epic to feel like you’re in the middle of something spectacular. Sometimes you just need a short, steep climb, a panoramic lookout, and the late Patagonian light doing its thing.

El Chaltén, Patagonia — photographing the town from Mirador de los Cóndores, where an easy uphill hike rewards you with panoramic views of the river valley, surrounding cliffs, and mountain-backed village below.

Our favorite “short but iconic” viewpoint: Mirador de los Cóndores

On our first evening we went straight for Mirador de los Cóndores. It’s short. It’s steep. And it gives you that instant, cinematic “we’re really here” moment.

We did it as a sunset hike because daylight was stretching late and we wanted to squeeze in one quick win on arrival. From the lookout, El Chaltén looked like a splash of color in a dramatic valley—more frontier town than polished resort. The higher we climbed, the more mountain ranges revealed themselves. It was the perfect first impression.

El Chaltén, Patagonia — soaking in the vast steppe and winding river valley from Mirador de las Águilas, a short uphill hike that delivers one of the quietest and most rewarding panoramic viewpoints in town.

Add-on: Mirador de las Águilas

If you’ve got extra energy (or you simply enjoy collecting viewpoints like Pokémon), extend the walk to Mirador de las Águilas. The vibe shifts from “town panorama” to broader views outward toward the landscape beyond.

Easy-hike menu (quick reference)

Walk / viewpointTypical timeDistanceEffortBest momentMirador de los Cóndores30–60 min~1 km upSteep-shortSunset / golden hourMirador de las Águilas1.5–3 hrs~2 km+ (add-on)Easy–moderateClear days, softer windMirador Río de las Vueltas15–30 minShortEasyWhen you want scenery without sweatTown circuits + La Lagunita45–90 minShortEasyRest day walks and photo hunts

Mirador de los Cóndores is ~1 km / ~30 minutes, and the Mirador de las Águilas spur branches shortly before Los Cóndores.

Why these matter (especially for your itinerary)

They’re perfect for arrival day when you’re excited but not fully organized yet.

They’re perfect for rest days when you need movement but not training.

They’re perfect for “weather isn’t ideal but we want to do something.”

El Chaltén, Patagonia — the iconic Bienvenidos sign marks your arrival in Argentina’s hiking capital, a colorful wooden welcome that signals the start of trail networks, cozy cafés, gear shops, and unforgettable mountain adventures.

Multi-Day Trekking in El Chaltén (For Big-Hike Addicts)

Most visitors stick to day hikes — and honestly, that’s plenty. But if you’re experienced in backcountry trekking, El Chaltén also lets you link iconic trails into multi-day adventures through remote valleys, glaciers, and wild campsites.

Here are the two classic routes:

RouteNightsCampsHighlightsDifficultyFitz Roy ↔ Laguna Torre Traverse2Poincenot → De AgostiniConnects both legendary hikes in one tripHardHuemul Circuit3–4Backcountry campsGlacier crossings, raw wilderness, solitudeExpert

Multi-day treks here are remote, exposed, and weather-dependent. Attempt them only if you already have solid mountain and navigation experience.

Trailhead signs in El Chaltén, Patagonia, pointing toward Laguna Torre, Mirador Maestri, and Camp de Agostini. These markers help hikers and multi-day trekkers understand how major routes connect, making it easier to navigate overnight adventures through Argentina’s national park trail network.

How the Main Trails Connect

One of the coolest things about El Chaltén is that major hikes don’t just start and end in town — many can be linked together if you’re trekking overnight.

StartFinishLinkable?NightsNotesLaguna de los TresLaguna TorreYes2Via Campamento Poincenot → De AgostiniLaguna TorrePliegue TumbadoNo—Separate trailheadsLaguna CapriFitz Roy BaseDay hike0Common acclimation route

If you’re sticking to day hikes, you’ll start and finish in town every night. If you’re trekking, this table shows how the puzzle pieces fit.

A quiet forest campsite in El Chaltén, Patagonia, where multi-day trekkers pitch tents beneath lenga trees. Camping like this allows hikers to link iconic trails such as Laguna de los Tres and Laguna Torre, creating unforgettable overnight adventures deep in Argentina’s wild mountain landscapes.

Campsite Reservations & Park Rules

Campsite reservations are managed through the Argentine National Parks (APN) booking system. In peak summer season, you’ll want to reserve camps ahead of time — especially for Poincenot and De Agostini.

A quick rules snapshot:

ItemNeeded?WherePark entry ticketYesAPN onlineCamping reservationYes (summer)APN bookingTrail permitsNo—

Leave-no-trace principles are strictly enforced. Pack it in, pack it out.

Can You Rent Hiking Gear in El Chaltén?

Short answer: a little — but not everything.

ItemAvailable?NotesTrekking polesYesEasy to find in townWaterproof jacketsLimitedSmall selection onlyHiking bootsVery limitedDon’t rely on thisFull camping kitsNoBring your own tent + stove

If you’re planning any overnight trek, arrive fully equipped.

Multi-Day Trek Reality Check

Patagonian weather changes fast. Winds can hit without warning. Trail conditions shift daily. River crossings may become impassable.

Multi-day trekking here is incredible — but it’s not casual hiking. Experience, preparation, and flexibility are essential.

Trailhead signage in El Chaltén, Patagonia, pointing toward Camp de Agostini and Laguna Torre. These forest paths guide hikers and multi-day trekkers moving between major routes, helping campers navigate overnight adventures through Argentina’s rugged national park backcountry.

Quick Planning Snapshot (Permits & Logistics)

QuestionAnswerCan I hike without a guide?Yes for all main trailsDo I need advance park tickets?Recommended in summerAre trails marked?Very wellIs there phone signal?Limited once hikingCan I rent camping gear?No

Best Things to Do in El Chaltén Beyond Hiking

Yes, El Chaltén is a hiking town. But the best trips aren’t 100% trail, 0% town. The town itself is part of the experience—the frontier feel, the colorful buildings, the gear shops, the nervous energy in the mornings, and the post-hike limping parade in the evenings.

If you build even a half-day of “town time” into your plan, El Chaltén stops being just a trailhead and starts feeling like a place.

Wander the town like it’s part of the itinerary

El Chaltén is small enough that wandering can become an actual activity—especially if you treat it like a scavenger hunt instead of “killing time.”

El Chaltén’s town center offers plenty of small, charming moments beyond the hiking trails — here Audrey Bergner relaxes beside a hand-carved wooden climber statue, soaking in local life, colorful storefronts, and mountain views in Patagonia’s trekking capital.

Fun little “micro-quests” that make town wandering feel purposeful:

Pick a daily ritual: choose one bakery, one café, or one ice cream spot and commit to it like it’s your training base.

Do a gear-shop loop: walk into shops even if you don’t “need” anything—Patagonia has a way of changing your mind fast.

Find your favorite view-from-town corner: a quick lookout, a river bend, a street where Fitz Roy peeks out between rooftops.

Spot the morning mood: pre-hike jitters, last-minute blister tape purchases, stove fuel panic, trail mix restocking.

Watch the evening vibe: muddy boots, sunburnt faces, and people telling the same story five times because it still feels unreal.

Tiny-town bonus: it’s hard to “waste time” here—everything you do makes tomorrow’s hike easier (food, gear, intel, recovery).

Stop at the visitor / tourist information centers early

If you want to level up your trip instantly, go early in your stay (ideally your first afternoon). This is where you get real-time info that no blog post can promise on any given day.

Ask about:

Trail conditions (mud, ice, wind exposure)

Closures / reroutes / river crossings

Sunset timing + best quick viewpoints from town

Wind direction (it matters more than you think)

What’s realistically doable with your daylight + fitness + weather window

Grab:

Updated maps and trail notes (whatever they have available)

Safety guidance (especially wind + rapid weather shifts)

Any posted notices about current conditions

El Chaltén, Patagonia — the Capilla de los Escaladores (Climbers’ Chapel), a small white church dedicated to mountaineers, standing proudly with Mount Fitz Roy towering in the distance. It’s a meaningful cultural stop that reflects the deep climbing heritage of Argentina’s trekking capital.

Capilla de los Escaladores: small place, big meaning

The Capilla de los Escaladores isn’t just a pretty building — it’s one of El Chaltén’s most emotionally resonant cultural landmarks, and a rare urban space in town that connects visitors to the history of climbing and human risk in Patagonia.

What it is:Built as a memorial chapel dedicated to the Austrian–Italian climber Toni Egger, who died in 1959 after an avalanche during a descent from the legendary Cerro Torre, the chapel is a symbol of remembrance for all climbers who have lost their lives in the surrounding mountains.

How it came to be:

The chapel was completed in February 1997 on land originally designated for the town cemetery, oriented toward Mount Fitz Roy and Cerro Torre — the peaks that define the region’s climbing lore.

In the 1990s, Austrian climber Edward Müller — a friend of Egger’s — visited the region to learn more about where his friend had died.

He offered to donate a replica of the Saint Michael chapel from Veneto, Italy, as a tribute to Egger and all mountaineers who never returned.

All the materials — from the campanile and wrought iron to the wooden shingles and interior fittings — were shipped from Europe and assembled in El Chaltén, with local supervision.

Out on the Laguna Capri trail, Audrey Bergner pauses to photograph Mount Fitz Roy rising beyond the lake — one of those unforgettable El Chaltén hiking moments where Patagonia’s wild scenery begs to be captured frame by frame.

Photography, sunsets, and “you don’t need a summit”

You don’t need to do a major hike every day to come home with epic photos. Some of our favorite visual moments came from simple things:

Late light hitting the ridgelines

The town glowing in golden hour

Clouds shifting so fast it felt like someone was changing a stage backdrop

Quick viewpoints that gave a huge sense of scale

If you’re traveling with a camera (or just a phone you treat like a camera), give yourself permission to do small walks and spend time just looking.

El Chaltén, Patagonia — a rustic bowl of gourmet lentejas at Senderos, served with thick toasted bread. This hearty lentil stew is the ultimate post-hike comfort meal in Argentina’s trekking capital.

👉 Browse El Chaltén tours (plus nearby Patagonia options) on Viator

Food and drink in El Chaltén: recovery carbs, cozy cafés, and “we earned this” dinners

If you ask us, El Chaltén has two main hobbies: hiking and eating afterward. And if you arrive in “foodie mode” like we did, you’ll feel extremely at home.

El Chaltén, Patagonia — a generous breakfast spread at Vertical Lodge with fresh bread, eggs, jam, and local meats as Audrey Bergner preps a hearty meal before heading out for a full day of hiking. Fuel like this is essential before tackling Patagonia’s legendary trails.

Our El Chaltén food philosophy

Eat a real breakfast, especially on big hike days.

Don’t pretend one granola bar is a meal.

Plan at least one “proper dinner” after your hardest day. It turns pain into poetry.

On windy days, lean into café culture. Patagonia basically invented the concept of “deserved hot drinks.”

Arrival-night energy: pizza, groceries, and restraint (sort of)

On our first night we had pizza and then tried to act responsible because we were hiking the next day. We even skipped beer because we were doing “a little hike” (which is hilarious because our definition of “little” in El Chaltén quickly became unhinged).

We also learned an early El Chaltén lesson: grocery selection can be limited and expensive. I joked about paying “a dollar per apple,” but it’s also a real heads-up—don’t assume you’ll find everything you want at the store, and don’t assume prices will feel like the rest of Argentina.

El Chaltén, Patagonia — an elegant gourmet chocolate dessert at Senderos, finished with whipped cream, rich chocolate drizzle, and a crisp caramel sugar shard. A decadent post-trek treat in Argentina’s hiking capital.

Post-hike dinner #1: Senderos (our boutique hidden gem)

After Laguna de los Tres, we needed a meal that felt like a warm hug and a victory lap. Senderos delivered.

It’s near the bus terminal, inside a high-end guesthouse, and it’s small enough that you feel like you’ve discovered a secret. We ate like people who had been living on trail snacks: blue cheese risotto with walnuts and sun-dried tomatoes, a hearty lentil dish (lentejas), a full bottle of red, and two desserts because obviously we were making excellent decisions.

That meal turned a brutally hard hike into one of our favorite travel days of the year.

El Chaltén, Patagonia — a classic burger loaded with bacon, melted cheese, lettuce, and tomato, paired with crispy golden fries at La Zorra Taproom. One of the most satisfying post-trek comfort meals in Argentina’s hiking capital.

Post-hike dinner #2: burgers + happy hour at La Zorra (and ice cream, because balance)

On another day we went the casual route: burgers, fries, and happy hour at a spot with great energy at La Zorra, followed by artisanal ice cream. El Chaltén has a way of making simple meals feel celebratory because you’re always slightly hungry and slightly proud.

El Chaltén, Patagonia — a pair of perfectly layered café lattes on a wooden table while Audrey Bergner relaxes in the background, enjoying a slow weather day indoors. Cozy cafés like this are part of the El Chaltén experience when the wind or rain calls for a well-earned rest.

Café days: the wind-proof cure

There will be days when the wind is so strong you feel like you could lean forward and just hover. On those days, cafés become your best friend. A “café day” can include:

A slow breakfast or brunch

A second hot drink because you’re “warming up” (again)

Cake because you’re “carb loading” (for tomorrow)

A little trip planning while watching the weather do weird things outside

More Great places to eat & drink in El Chaltén

Here are some our favs from our trip — whether you’re after a casual pint, cozy café vibes, plant-based fuel, or celebratory post-trek dinners:

El Chaltén, Patagonia — nothing tastes better after a full day on the trails than a cold craft beer at La Zorra Taproom. A dark stout and a golden ale rest on the wooden table by the window, marking the perfect post-hike reward in Argentina’s trekking capital.

🍺 Beer & casual meals

La Cervecería Chaltén – Classic brewpub with its own beers and hearty pub fare; perfect for post-hike locro, empanadas, stews, and a refreshing pint in a relaxed, social atmosphere.

La Zorra Taproom Chaltén – Popular taproom with craft beer flights, hamburgers and comfort food, and a lively vibe for happy hour or a chill evening. Locals and travelers alike rave about the beer selection and casual setting.

El Chaltén, Patagonia — La Waflería’s famous loaded waffles topped with deep berry ice cream, fresh fruit, and caramel drizzle. This is the ultimate post-hike recovery meal after tackling Laguna de los Tres or Laguna Torre in Argentina’s hiking capital.

🧇 Sweet treats & relaxed cafés

La Waflería – Beloved waffle café where you can indulge in sweet or savory waffles with toppings — ideal for a relaxed brunch, afternoon snack, or dessert after a long day.

El Chaltén, Patagonia — Cúrcuma’s signature healthy bowl loaded with quinoa, roasted vegetables, and fresh greens. It’s the ideal nutrient-packed meal to refuel between big hiking days in Argentina’s trekking capital.

🥗 Healthy & plant-friendly options

Cúrcuma – A cozy vegan and gluten-free restaurant beloved by travelers seeking fresh, nourishing meals with generous portions and creative plant-forward dishes — a perfect “reset” meal after a few heavy days of trekking.

El Chaltén, Patagonia — Patigonicus serves up one of the best post-hike meals in town. This freshly baked pizza loaded with tomatoes, onions, garlic and gooey cheese is the perfect reward after a long day on the trails of Argentina’s hiking capital.

🍕 Comfort food & classic eats

Patagonicus – Casual spot known for pizza and comfort dishes, ideal for sharing after a long day out on the trails.

Other food & drink spots

La Tapera – Well-regarded for grilled meats and Patagonia specialties.

Fuegia bistró – Cozy, elevated bistro with hearty, satisfying mains.

Maffia Trattoria – House-made pasta and Italian classics in a friendly setting.

Ahonikenk – Rustic local favorite for hearty Argentine staples with generous portions.

Patagonia Rebelde – Another solid choice for lamb and classic Patagonia fare.

La Senyera – Traditional Argentine cuisine with a warm, local atmosphere.

B&B Burger Joint – Casual burgers and bar food if you need a simple, quick meal.

The lunchbox system (again, because it’s that useful)

If your accommodation offers lunchboxes, it’s one of the easiest ways to simplify full-day hikes. Ours did. It was about $10 when we visited. Order the night before, grab it in the morning, and you’ve instantly reduced decision fatigue. Yes, it can feel pricey, but it often pays for itself in convenience and sanity.

Audrey Bergner excited to board the Marga Taqsa bus in El Calafate, Patagonia — the classic overland connection to El Chaltén that most travelers use to reach Argentina’s legendary hiking capital before starting their trekking adventure.

Getting to El Chaltén and getting around

Most trips to El Chaltén run through El Calafate, the larger hub with an airport, more services, and that slightly more polished “tourist infrastructure” feel. The overland stretch from El Calafate to El Chaltén is about 215 km and ~3 hours.

For us, that “~3 hours” included the classic pre-departure routine: one more hot drink, one more snack at Olivia's, and printing our bus tickets because we didn’t want our entire travel fate resting on unpredictable Patagonia internet.

🚌 Book Buses to Make the Whole Trip Easier

If you’re doing the classic “fly into El Calafate → bus to El Chaltén” plan, booking your seat ahead of time keeps things smooth.

✅ El Calafate → El Chaltén bus tickets (Busbud)

✅ El Chaltén → El Calafate bus tickets (Busbud)

The main routes (quick-glance table)

We rode up with Chaltén Travel, and it was simple and comfortable—but this is Patagonia/Argentina, so schedules and prices can shift. Treat any price you see online (including this sentence) as “check again right before you go” information.

Starting pointTypical routeRough timeBest forNotesEl CalafateBus or car to El Chaltén~3 hoursMost travelersThe classic approach; easy and straightforwardEl Calafate airportTransfer into town, then onwardHalf dayAnyone flying inPlan buffers if you’re connecting same dayOn the road (Ruta 40 vibes)Self-drive across PatagoniaVaries wildlyRoad trippersMagical, but distance and wind add up fast

As of the current season, the standard one-way bus ticket between El Calafate ⇄ El Chaltén costs AR$ 50,000 per person. There’s also a separate municipal bus terminal fee of AR$ 2,000 per person, paid at El Chaltén’s terminal (Window 7, open from 7:00 a.m.).

Quick budget math (per person)

One-way fare: AR$ 50,000

Round-trip fares: ~AR$ 100,000

El Chaltén terminal fee: AR$ 2,000 (separate from the bus ticket)

Schedule basics (what to expect)

Runs year-round

At least two daily departures (generally morning + afternoon)

More departures in peak season (roughly October–April), so summer travelers usually have plenty of flexibility

Typical departure windows

From El Calafate: departures often start around 8:00 a.m. and continue through the afternoon/evening

From El Chaltén: return options can range from very early pre-dawn services to midday and evening departures—handy if you’re syncing with flights

Handy detail for flight connections

Buses pick up and drop off directly at El Calafate Airport, so you can often land and head straight to El Chaltén without detouring into town.

The legendary drive from El Calafate to El Chaltén unfolds across the open Patagonian steppe — a long, empty highway leading straight toward the jagged skyline of Mount Fitz Roy and the surrounding peaks of Los Glaciares National Park. Even before reaching the hiking trails, this road trip sets the tone for the wild, remote adventure ahead.

Bus vs. car: a simple choice

Choose the bus if you want the easiest logistics and you’re not desperate for side-road freedom. You can nap, stare out the window, and arrive with “legs” still in the bank.

The bus ride itself was part of the experience: big empty Ruta 40 energy, endless sky, and that iconic La Leona stop where you stretch your legs and feel like you’re pausing at a Patagonian outpost halfway between worlds.

Choose a car if you want flexibility for viewpoints, slower pacing, and the ability to bail on weather windows more dynamically. A car also turns “rest day” into “tiny adventure day” without committing to a full hike.

🚗 Rent a Car for Maximum Freedom in Patagonia (Day Trips Made Easy)

A rental makes sense if you’re building a Patagonia road trip, want full control of photo stops, or you’re timing weather windows.

👉 Compare El Calafate car rentals on DiscoverCars (best gateway for El Chaltén)

Getting around once you’re there

El Chaltén is walkable. The town is super compact. Many trailheads begin right at the edge of town. That’s part of the magic: you can finish breakfast, wander two blocks, and suddenly you’re hiking toward glaciers and granite.

I loved that El Chaltén felt more like a frontier hiking base than a polished resort—colorful buildings, dusty streets, packs everywhere, and that constant buzz of people quietly plotting their next weather window.

The El Chaltén Visitor Information Center in Patagonia — home to park rangers, trail maps, and up-to-date hiking information for Parque Nacional Los Glaciares, serving as the essential first stop before setting out on Argentina’s legendary trekking routes.

National park logistics: tickets, portals, and the “don’t mess this up” rules

El Chaltén sits inside the broader Los Glaciares National Park system, a UNESCO World Heritage Site and one of Argentina’s most spectacular protected areas. The trails around El Chaltén — including all the classic hikes (Fitz Roy, Cerro Torre, Laguna de los Tres, Laguna Torre, Pliegue Tumbado, etc.) — are inside the park, and as of October 2024 / 2025, there’s now a mandatory park access fee for the North Zone / Portada El Chaltén.

Official fee structure (2025–2026 season) — North Zone / Portada El Chaltén

Visitor TypeDaily Fee (one day)NotesGeneral (foreign visitors)ARS 45,000Most international travellers fall into this category.Argentine nationals (domestic tourists)ARS 15,000You must show ID/ARG passport.Residents of Santa Cruz ProvinceARS 5,000Local residents pay the lowest rate.Students (with valid ID)ARS 7,000National parks reduced student category.Exempt (no payment required)FreeIncludes: children 0–5, people with disabilities, pensioners, veterans of the Malvinas war, local residents of El Chaltén/El Calafate, and park staff.

👉 These fees apply per park entry day (not per trail). That means once you’ve bought a valid entry for a day, you can hike multiple official park trails that same day without extra cost.

Quick example: If you pay ARS 45,000 for one day, you could do Laguna de los Tres in the morning and Laguna Torre in the afternoon (time, weather, and stamina permitting) without paying extra.Multi-day passes & savings (Flexipass options)

If you plan to stay and explore multiple days, multi-day passes can be more economical:

3-day Flexipass: Typically ARS 90,000 for general visitors (saving money compared to buying three single days).

7-day Flexipass: Around ARS 157,500 for general visitors.

Annual National Parks Pass: A single pass that covers all Argentina’s national parks for 12 months; cost varies but can make sense if you’re itinerary includes Iguazú, Tierra del Fuego, etc.

Tip: If you’re hiking multiple long routes on consecutive days (e.g., Fitz Roy one day, Torre the next + side trails), the Flexipass almost always works out cheaper.How park access is controlled

Tips to avoid the “windy portal panic”

Buy ahead of time: If you’re in El Chaltén the night before a big hike, buy your ticket online (Administración de Parques Nacionales website) and screenshot it.

Screenshot everything: Signal is patchy; having screenshots + booking IDs removes stress.

Match names & IDs: If paying online as an Argentine national, make sure ID matches.

Understand what it covers: One ticket = one day of park access for all trails. You don’t need separate tickets for each trail.

Summary: What you actually pay

International visitor (daily): ~AR 45,000

Argentine national: ~AR 15,000

Santa Cruz resident: ~AR 5,000

Students: ~AR 7,000

Exempt categories: Free

Multi-day passes can significantly reduce per-day cost.

What you’ll see at the trailheads

El Chaltén’s classic hikes fan out from several portal areas. In practice, you’ll encounter signs, maps, and a “this is where your day begins” energy at the main access points.

A few park etiquette basics (the Patagonia version)

No drones. This is not negotiable, and also: the wind would probably eat your drone anyway.

Respect wildlife and the trails. Stay on path, pack out trash, don’t turn fragile places into shortcuts.

If a friendly town dog wants to follow you, discourage it from joining your hike. It’s not just about safety—it helps protect local wildlife too.

Reality check: connectivity

El Chaltén can have shaky mobile data and inconsistent Wi-Fi. We experienced payment processing issues at our hotel because the Wi-Fi kept dropping. There is also a public Wi-Fi option in the central plaza, but don’t build your entire trip plan around perfect connectivity.

Nomadic Samuel showing off the spacious accommodations at Vertical Lodge in El Chaltén, Patagonia — a bright, comfortable room with twin beds and plenty of space for backpacks and hiking gear, making it an ideal base for exploring Argentina’s legendary trekking trails.

Where to stay in El Chaltén

Your lodging choice affects everything: how early you can get on trail, how quiet your nights are, and how quickly you can collapse into bed after a 20-kilometer day.

We stayed near the bus terminal, which turned out to be a quietly brilliant move. It was easy on arrival, easy on departure, and it put us close to some useful services—plus it meant we accidentally discovered one of our favorite meals in town right when we were at our most ravenous.

We based ourselves at Vertical Lodge and it genuinely fit our “trekking basecamp” needs: a spacious room, a proper desk for camera/admin life, and a big bathroom situation that felt hilariously luxurious after a day of being sandblasted by wind.

Base selection matrix: pick your stay style

Stay styleBest forProsConsOur adviceNear the bus terminalEasy logistics, quick arrival/departureConvenient, often quieter at nightSlightly less “main street” energyGreat if you’re doing a lot of early startsAlong the main stripFirst-timers who want everything outside the doorRestaurants/cafés steps awayCan be noisier, more foot trafficIdeal if you love strolling and snackingEdge of townQuiet sleepers, star-gazers, “I came for nature” peoplePeaceful, often big viewsLonger walk to dinner in wind/rainWorth it if you value silence over convenienceHostel / budget baseSocial travelers, solo hikersTrail intel, community vibeNoise, shared spacesGreat if you want hiking buddiesCabin/apartmentFamilies, longer stays, kitchen peopleSpace, self-cateringCan book out fastPerfect for food prep and recovery days

🏨 Where to Stay in El Chaltén (Our Top Hotel Picks)

⭐ Quick Booking Box: El Chaltén Hotels (Compare Rates)

PickBest forVibeBooking link🏆 Top PickFirst-timers who want an easy, reliable baseComfortable “no-regrets” stayCompare top stays in El Chaltén on Booking.com💎 Boutique / Treat-YourselfCouples, hikers celebrating a big trek, views + comfort seekersCozy-luxe Patagonia energyBrowse boutique stays in El Chaltén on Booking.com🏘️ Mid-range (great value)Most travelers who want comfort without splurgingWarm, practical, walkableFind mid-range El Chaltén hotels on Booking.com💰 BudgetRoad-trippers + hikers who only need a clean baseSimple, wallet-friendlySee budget stays in El Chaltén on Booking.com

🔎 Want to browse all options instead?👉 Compare all El Chaltén stays on Booking.com

Our lodging rhythm (what worked for us)

Early breakfast (we had breakfast available around 6:30 a.m.), then hit the trail while the town was still sleepy.

Evenings were for laundry-by-hand, charging batteries, reorganizing gear, and pretending we were the kind of people who do this all the time.

We went to bed while it was still bright outside because Patagonia’s daylight tries to trick you into living a double life.

That 6:30 a.m. breakfast became our superpower. Being fed and moving early made El Chaltén feel calmer—less crowded trails, more breathing room, and way more “we are competent hikers” energy (even when we absolutely weren’t).

A classic Laguna Torre hiking scene in El Chaltén — trekkers cross a wildflower meadow toward ancient glacier ice and jagged granite peaks, embodying the raw adventure and untouched beauty of Patagonia.

Essential logistics: money, Wi-Fi, groceries, and the lunchbox hack

El Chaltén is not complicated, but it is particular. It’s a hiking town at the end of the road, and that means you plan for a little friction. If you do it right, the “friction” becomes part of the charm. If you do it wrong, you’ll be standing in a shop whispering, “Why is an apple doing this to my budget?”

Money + payments

Expect card payments to sometimes fail due to connectivity. Don’t assume a second attempt will magically work.

Carry some cash as backup for small purchases, tips, and the occasional “technology is on strike” moment.

If you’re relying on online ticket purchases, have at least one reliable payment method ready (and ideally a second backup card).

Wi-Fi and data (the honest version)

We had stretches of “basically no internet.” Mobile data didn’t reliably work for us, and the Wi-Fi would drop, sometimes at the worst possible moment—like when we were trying to process a hotel payment. We’re not complaining; this is simply Patagonia being Patagonia. Build your trip so that your happiness does not depend on a stable connection.

Groceries: limited variety, Patagonia pricing

Grocery selection can be limited, and prices can be higher than you expect for Argentina. Our mental benchmark (yes we've now mentioned this multiples times) became “a dollar per apple,” which is both funny and a bit spooky at the same time.

The lunchbox hack (highly recommended)

Many hotels and guesthouses offer a packed lunch (often called a lunchbox) that you order the night before and pick up in the morning. We paid around the equivalent of $10 USD per lunchbox. Pricey for Argentina, but convenient—especially if your accommodation doesn’t have a shared kitchen or mini-fridge.

One of our lunchboxes was basically the Patagonia hiker starter kit: rice + veggie salad, peanut bars, apples, muffins, a few candies, and bottled water—exactly the kind of practical fuel that prevents your “granola bar fantasy” from becoming a real problem.

The “tomorrow-proofing” checklist (do this in 10 minutes)

Charge phones, camera batteries, power banks.

Repack your day bag: water, layers, snacks, sunscreen, lip balm.

Check your weather window and set a realistic start time.

Confirm your lunchbox (or shop snacks) so you’re not panic-buying in the morning.

Decide your “bail point” in advance for big hikes: where you’ll turn around if time/energy/weather aren’t cooperating.

🥾 Plan B Adventures: Tours & Easy Day Trips from El Chaltén

Even hardcore hikers end up with a “Plan B” day in Patagonia. When the wind is feral, legs are toast, or you just want someone else to handle the logistics, these Viator options are easy wins.

👉 Browse El Chaltén tours (plus nearby options) on Viator

OptionBest forBook it🚌 El Chaltén “Complete Experience” day tour (from El Calafate)A low-effort way to “see El Chaltén” without committing to a big hikeEl Chaltén Complete Experience Full-Day Tour from El Calafate (Viator)🧊 Perito Moreno Glacier full-day + optional boat safariClassic Patagonia bucket-list day that doesn’t require hardcore hikingPerito Moreno Glacier Full-Day Tour with Optional Boat Safari (Viator)🚤 “Todo Glaciares” navigation (Upsala + Spegazzini)Big-glacier scenery with max comfort (aka: let the boat do the work)Glaciares Gourmet Navigation: Upsala & Spegazzini Navigation (Viator)🗿 El Calafate city tour + Walichu CavesA cultural/history reset day (great when the weather is moody)El Calafate City Tour + Walichu Caves (Viator)🚙 Nativo Experience: Lakes & Caverns (4x4 style)Off-road adventure + viewpoints when you want something different than trailsNativo Experience: Lakes & Caverns (Viator)🇨🇱 Torres del Paine full-day trip (from El Calafate)Maximum “Patagonia wow” in one day (long day, huge payoff)Torres del Paine Full-Day Tour from El Calafate (Viator)

Day trips from El Chaltén less than 2 hours away

Not every “day trip” needs to be a full-body endurance event. One of the best parts about El Chaltén is that you can get a completely different Patagonia vibe—lakes, valleys, river viewpoints, quiet ranch roads—without spending half the day in transit.

Here are genuinely close options (think short drives/transfers), so you can stay flexible with weather and energy levels.

Quick-glance table: the best short day trips (under ~2 hours one-way)

Day tripHow far from El ChalténWhy it’s worth itBest forHow it usually worksLago del Desierto~37 km from townBig lake scenery + boat options + a totally different “edge-of-the-world” feelRest days, “we want Patagonia without grinding” daysGo by transfer/bus/taxi or drive; spend half or full day; boat add-ons availableRío Eléctrico / El Pilar area~15–20 km-ish rangeFast access to the Fitz Roy valley vibes + river scenery + trailhead energy (even if you don’t go far)Photography, low-commitment days, weather-window scoutingShort transfer/drive to the area; do a small walk, viewpoint, or simply soak it inPiedra del Fraile access~16 km to the bridge/approachQuieter, more “local” feel—valley scenery, river, and a sense of getting away from townPeople who want something calmer than the main classicsTypically drive/transfer to the access point; choose your own adventure from “short look” to longer walkRuta 40 viewpoints + La Leona-style “road trip energy” (micro day trip)Within ~1–2 hours depending how far you goPatagonia emptiness, sky, wind, wide-open nothingness (in a good way)Anyone who loves landscapes and hates crowdsBest with a car or taxi/driver; stop where the light looks ridiculous

✅ See top-rated El Chaltén tours on Viator

Rest day in El Chaltén: the secret ingredient to a great hiking trip

A rest day in El Chaltén is not a failure day. It’s a strategy day.

This is Patagonia. The hikes are big. The weather is dramatic. And your body is not a vending machine where you insert motivation and receive unlimited energy.

We had two different kinds of rest days:

The “we are wrecked” rest day after Laguna de los Tres.We didn’t leave the room. We were stiff. We slept 10–12 hours. We woke up, realized our legs were still negotiating, and went back to sleep like it was our job.

The “the wind has declared martial law” rest day.We had a day where the winds were so insane that standing upright felt like a group project. That became a café day—warm drinks, slow wandering, and a lot of “okay, Plan B it is.”

One rest day was basically “gear Tetris”: reorganizing bags, hand-washing whatever had become morally questionable, charging everything, and doing one tiny walk just to keep the body from turning into a creaky wooden ship. Then we rewarded ourselves with something warm and sweet, because recovery is a real sport.

Rest day decision matrix (choose your recovery style)

Your situationRest day planWhat to doWhat to avoidLegs are stiff, feet are angryActive recovery dayEasy walk + stretching + early dinnerA “quick” big hike that becomes a full dayWind is brutalWind-proof dayViewpoint if safe + cafés + town wanderingExposed ridgelines and ego-based decisionsRainy or coldCozy dayMuseums/chapel + bakery crawl + planningSitting in wet clothes pretending it’s fineYou’re behind on logisticsAdmin dayTickets, cash, laundry, groceries, lunchboxesLeaving everything for 6:30 a.m. chaosYou’re mentally friedReset dayDo one simple thing, then rest guilt-freeDoom-scrolling weather apps for five hours

A perfect “we’re wrecked but happy” rest day (sample schedule)

Sleep in. Actually sleep in. Patagonia will still be there at noon.

Big breakfast, preferably something warm.

Gentle walk: 20–60 minutes, max. River path, town stroll, viewpoint if you feel good.

Coffee stop. You’ve earned it.

Afternoon: gear reset (laundry, charging, repacking), then a nap that makes you feel like you’ve time-traveled.

Early dinner. Early bed. Let your body bank recovery for tomorrow.

A perfect “windy day” rest day (sample schedule)

Slow morning café breakfast while you watch the wind slap the flags around like it’s auditioning for a role.

Short viewpoint only if it feels safe and reasonable.

Tourist info stop for updated conditions and advice.

Bakery crawl. Hot drinks. Maybe soup. You are now a professional comfort-seeker.

Make tomorrow’s plan: pick the hike that matches the weather window, not your pride.

The rest-day admin checklist (the stuff that makes tomorrow smooth)

Laundry: socks, base layers, whatever smells like “I climbed a gravel wall.”

Charge everything: phone, camera, headlamp, power bank.

Refill snacks and water plan.

Confirm lunchbox orders if you’re using them.

Repack your day bag so you’re not rummaging at dawn.

Decide your start time and your bail point.

The best “rest day” activities in El Chaltén

Rest days are at their best when they still include one small Patagonia moment, even if you’re moving slowly.

Short walks and viewpoints

Mirador de los Cóndores: short, steep, iconic.

Mirador de las Águilas: an optional extension if you’re feeling good.

Mirador Río de las Vueltas: quick scenery with minimal effort.

Town circuits and La Lagunita-style wandering: gentle, photogenic, low stakes.

Town culture

Visitor centers and maps: get conditions, closures, and smart planning tips.

Capilla de los Escaladores: a meaningful stop that connects you to El Chaltén’s mountain culture.

Gear browsing: even if you don’t buy anything, it’s part of the hiking-town atmosphere.

Food as recoveryRest day is when you eat like a responsible adult:

Protein and something hearty

Fruit and snacks for tomorrow

A hot drink that makes you feel human again

The mental game: why rest days are actually part of “doing El Chaltén right”

El Chaltén can tempt you into thinking every day has to be a major hike because the scenery is right there and the daylight stretches late. But the real pros build in buffers.

A rest day does three powerful things:

It protects your next big hike from becoming a suffer-fest.

It gives you flexibility when Patagonia’s weather does its thing.

It turns the trip into a rhythm instead of a grind.

We came to El Chaltén as foodies pretending to be trekkers. By the end, we were still foodies—just with stronger legs and a deeper respect for planning.

Bright red calafate blossoms — a signature Patagonian plant — add bursts of color to El Chaltén’s rugged landscape, a small but unforgettable detail spotted along hiking trails in Los Glaciares National Park.

👉 Check El Calafate ↔ El Chaltén bus schedules + prices on Busbud

Sample itineraries (3–7 days) to build your El Chaltén game plan

El Chaltén rewards slow travel. If you only have a couple of days, you can still get a massive experience—but the sweet spot is giving yourself enough time for weather buffers, rest days, and at least one “we’re just wandering” day.

Itinerary builder matrix

Days in El ChalténBest forCore hikesRest-day bufferVibe3 daysFast classic hit1 iconic + 1 mediumMinimalEfficient, intense4 daysBalanced first trip2 full days + 1 short1 bufferBest all-around starter5 daysThe “do it right” plan2 iconic + 2 medium1 bufferComfortable, flexible6–7 daysDeep immersionAdd day trips + extra viewpoints1–2 buffersPatagonia rhythm unlocked

A colorful El Chaltén 3-day itinerary infographic mapping the perfect classic-highlights sprint — arrive and catch sunset at Mirador de los Cóndores, tackle an iconic Fitz Roy or Cerro Torre hike, then finish with Laguna Capri or Chorrillo del Salto before heading onward.

3-day itinerary: the “classic highlights” sprint

Day 1: Arrive, settle in, short viewpoint (Mirador de los Cóndores at sunset if you have daylight).Day 2: Iconic hike day (Fitz Roy / Laguna de los Tres, or Torre if you want kinder vibes).Day 3: Medium day (Laguna Capri or Chorrillo del Salto) + depart.

This itinerary works, but it’s tight. If the weather fails you, you’ll feel it.

A detailed El Chaltén 4-day itinerary infographic designed for first-time visitors — arrive and explore town with a Mirador de los Cóndores sunset, conquer Laguna de los Tres, enjoy a restorative café and viewpoint day, then finish with Laguna Torre or a medium hike based on weather and energy.

4-day itinerary: the most sensible first-timer plan

Day 1: Arrival + town wander + Mirador de los Cóndores.Day 2: Big hike #1 (Laguna de los Tres if conditions look good).Day 3: Rest day or easy day (café day + viewpoint + admin).Day 4: Big hike #2 (Laguna Torre) or medium day depending on legs/weather.

This is the plan that acknowledges reality: the big hike might wreck you, and Patagonia might have opinions.

A relaxed yet adventure-packed El Chaltén 5-day itinerary infographic — settle in with a sunset viewpoint, hike Laguna de los Tres or Capri, recharge with a true rest day, tackle Laguna Torre, then enjoy Chorrillo del Salto and Mirador de las Águilas before an unhurried town evening.

5-day itinerary: our favorite “comfortable but still epic” plan

Day 1: Arrival + sunset viewpoint.Day 2: Laguna de los Tres (or Capri + partial if you prefer).Day 3: Rest day (sleep, easy walk, food, admin).Day 4: Laguna Torre.Day 5: Chorrillo del Salto + Mirador de las Águilas, plus an unhurried town evening.

This is where you start feeling like you belong. You’re not rushing, and you’re not living on adrenaline.

6–7 day itinerary: the full El Chaltén experience

Add one or two of the following:

A second rest day if you’re stacking hard hikes.

Extra viewpoint days to chase good light and clear skies.

A day trip option (like Lago del Desierto) if you want variety.

A “weather window” day where you choose the big hike based on the best forecast, not the calendar.

When you give El Chaltén a full week, you stop trying to control it and start flowing with it. That’s when Patagonia feels the most magical.

El Chaltén, Patagonia — hikers make their way up the rocky Laguna de los Tres trail, a reminder that Fitz Roy’s most iconic hike is also the busiest. Starting early and choosing shoulder-season dates can make this legendary trek far more peaceful.

Weather, wind, crowds, and safety (Patagonia’s greatest hits)

El Chaltén is famous for dramatic weather, and that drama is part of the experience. One day can feel calm and warm, the next can feel colder, windier, and downright moody. Build your trip assuming you’ll need to swap days around.

How we handled the wind 

Start earlier when possible. Wind often builds later in the day.

Have a “short hike” option ready for any day you wake up to chaos.

Save the exposed viewpoints for calmer windows.

Accept that a café day is still a valid Patagonia day.

Crowd hacks (without turning into a hiking snob)

The iconic hikes are popular for a reason. Go early for a calmer trail.

If the main hike feels too busy, choose an alternate: viewpoints, waterfall walks, or a medium day.

Make friends with golden hour. Even short walks feel epic when the light hits.

Following the famous Laguna de los Tres trail in El Chaltén, hikers make their way toward the jagged spires of Mount Fitz Roy — a classic Patagonian trek that delivers some of Argentina’s most unforgettable mountain scenery.

Trail etiquette and safety basics

Dress in layers and bring a real windproof shell. Patagonia loves to test your zippers.

Keep snacks, water, and a small “just in case” layer in your bag even on shorter days.

Stay on trail. The landscape is beautiful and also fragile.

If you’re unsure about conditions, stop by the tourist information office early in your stay (it’s located at the bus terminal and has long daily hours).

El Chaltén, Patagonia — Audrey Bergner wheels her luggage from the bus station toward Vertical Lodge, a familiar sight for budget travelers arriving in town. Moments like this show the simple, walkable nature of Argentina’s hiking capital.

Budget game plan (so Patagonia doesn’t eat your wallet)

El Chaltén can be done on a range of budgets, but it helps to know where the costs concentrate.

The big cost buckets

Accommodation: varies widely; book earlier in peak season.

Food: groceries can be limited and pricey, and restaurant meals add up fast after big hiking days.

Transport:  bus or car rental from El Calafate is often the main “getting there” expense.

Park access: Los Glaciares / Portada El Chaltén has an entrance fee schedule that can be significant for international visitors.

Our “spend smarter” tips

Use lunchboxes on big hike days to avoid expensive last-minute food runs.

Mix restaurant meals with simple grocery dinners.

Build in rest days so you’re not “forced” into paid tours due to fatigue.

If you’re relying on the North Zone portals, remember that ticketing is handled online/QR and payment is by card (not cash).

The biggest money-saving move is also the simplest: plan your hikes well so you don’t lose days to bad timing, bad food prep, or weather surprises.

El Chaltén, Patagonia — Nomadic Samuel gives a thumbs up on the Mirador de los Cóndores hike, a short but scenic trail overlooking the town and surrounding valleys. It’s one of the best easy hikes for sunset views in Argentina’s trekking capital.

✨ Ready to lock in your El Chaltén plan?

🥾 Browse El Chaltén tours on Viator 

🏨 Find El Chaltén hotels on Booking.com 

🚗 Compare El Calafate car rentals on DiscoverCars 

🚌 Book El Calafate → El Chaltén buses on Busbud 

Detailed traveler FAQ for planning an unforgettable El Chaltén trip (without getting wrecked by the wind)

How many days do we actually need in El Chaltén?

Honestly: 4–6 nights is the sweet spot. Three days works, but you’re one bad weather day away from missing something iconic. With 5–6 days you can hike, rest, and still have flexibility.

Is El Chaltén only for hardcore hikers?

Nope. Look at us. You can do easy viewpoints, short waterfall walks, and medium hikes with huge scenery. The town is built for DIY trekking at many levels—it’s about choosing the right hike for your day.

What’s the single best hike for first-timers?

If conditions are good and you’re up for a challenge: Laguna de los Tres. If you want a slightly kinder classic: Laguna Torre. If you want the “smart compromise”: Laguna Capri.

Do we need a rest day?

Yes. Even if you feel strong, rest days are part of the Patagonia rhythm. They protect your next hike and give you buffer when the weather does its chaos thing.

How bad is the wind, really?

Bad enough that it becomes a character in your trip story. Some days are calm. Some days are “why is my hood speaking to me?” Plan for flexibility and bring a real windproof layer.

Are the trails well marked?

Generally, yes. You’ll find signage, trailheads, and (on many routes) kilometer markers that help with pacing and decisions. Still, don’t treat this like a city park—conditions change fast.

Do we need trekking poles?

Not mandatory, but they’re very helpful for steep, loose sections and for tired legs on the way down. We didn't bring them and we certainly regretted that. If you’re doing Laguna de los Tres, we’d seriously consider them.

Can we rely on Wi-Fi and mobile data?

Don’t count on it. You might get decent moments, but you might also have outages and payment glitches. Download maps, save key info offline, and keep a backup plan.

Do we need to book accommodation in advance?

In peak season, yes. El Chaltén is small and fills up. If you want a specific stay style (apartment, cabin, certain location), booking ahead makes the trip smoother.

Are lunchboxes worth it?

Usually, yes—especially on full-day hikes. Ordering the night before saves you morning stress and avoids scrambling for trail food when stores are limited.

Is El Chaltén doable on a budget?

Yes, but be strategic. Mix grocery meals with restaurant splurges, use lunchboxes selectively, and plan your hikes well so you don’t “waste” days or end up paying for last-minute alternatives.

What’s the most underrated thing to do?

The short viewpoints. For example, Mirador de los Cóndores (especially at sunset) gives you a huge emotional payoff for a small effort, and it’s a perfect arrival-day or rest-day win.

What’s the best time of year to visit El Chaltén?

For most people, the sweet spot is the warmer hiking season (roughly late spring through early fall in Patagonia). You’ll get longer daylight, more services running, and more reliable trail access. Shoulder season can be quieter but moodier—more “bring extra layers and backup plans.”

What time should we start the big hikes?

Earlier than you think. Not because you’ll “run out of daylight” in summer, but because early starts usually mean calmer conditions, fewer crowds, and more buffer for snack breaks, photo stops, and the inevitable “we need to sit down for a second” moment.

Do we need a guide for the classic hikes?

Most people don’t for the standard trails (Laguna de los Tres, Laguna Torre, etc.) because they’re popular and generally well marked. A guide can still be worth it if you want deeper interpretation, extra safety margin in tricky conditions, or you’re aiming for more technical objectives.

What should we pack for a day hike in El Chaltén?

Think layers and wind protection first, then snacks. A simple winning combo is: a real windproof shell, a warm mid-layer, hat/gloves even in summer, sunglasses, sunscreen, lip balm, enough water, and more food than your optimistic brain says you’ll need. Patagonia has a way of turning “quick hike” into “longer story.”

Is tap water safe to drink in El Chaltén?

Generally, yes—most travelers treat town tap water as safe. That said, if you have a sensitive stomach or you’re coming off a long journey, it’s totally reasonable to ease in, use bottled water for a day, or ask your accommodation what they recommend.

Are there ATMs in El Chaltén?

Sometimes, and sometimes they’re a little… Patagonian about it. Availability and reliability can change, and machines can run out of cash. The smart play is bringing some cash from El Calafate and not leaving your entire payment strategy up to one lonely ATM at the end of the road.

What’s the best way to handle crowds on the popular trails?

Two moves: start early and hike mid-week if you can. If you still hit crowds, don’t let it ruin your day—build in a viewpoint sunset walk or an easier Plan B trail so you’re not stuck thinking the only “valid” El Chaltén experience is the busiest one.

Can we do El Chaltén without a car?

Absolutely. That's what Audrey and I did. El Chaltén is one of the best no-car hiking destinations because the town is walkable and many trailheads start right from town. A car is a bonus for flexibility and side trips, but it’s not required for a top-tier first visit.

Plan your El Chaltén trip (quick recap)

El Chaltén is at its best when you treat it like a rhythm, not a checklist: one big hike, one medium day, one easy viewpoint, one rest/reset day, repeat. Start early, respect the wind, eat like a professional carb enthusiast, and build buffers so Patagonia’s weather can’t ruin your joy. Show up as a “foodie,” leave as a “faux trekker,” and accept that the real summit is making it back to town in time for dinner.

We also learned the hard way that the “quiet” parts of the trip are what make the big days possible: screenshot your tickets and maps in advance, don’t assume Wi-Fi will behave when you need to pay for something, and treat lunchboxes/snacks like actual strategy—not an afterthought. And if Patagonia hands you a day of chaos wind or moody skies, don’t fight it. Do the café crawl, wander town, reset your gear like you’re playing hiking-basecamp Tetris. Then pounce on the next good weather window with fresh legs and a slightly smug sense of preparedness.

Finally, don’t sleep on the journey moments: that Ruta 40 emptiness, the La Leona stretch-your-legs stop, the first time El Chaltén appears like a colorful little outpost under teethy peaks. Those “in between” scenes are the glue of the whole experience—because El Chaltén isn’t just the hikes. It’s the full Patagonia storyline.

#### Emilia-Romagna Travel Guide for Food Lovers: Italian Cuisine Delights!
Emilia-Romagna is a paradise for food lovers and in this travel guide we'll cover all of the delights you can try!

If for some strange reason I was forced to eat only five different cuisines for the rest of my life, Italian food would be right at the top of that list. It may be hard to believe, considering I've turned into a bit of a foodie. But there was a time during my teenage years where my list of preferred foods consisted of only pizza, lasagna, pasta, ribs and cheesecake.

Basically, 75% of what I liked was Italian food prepared Canadian style. Salad? Forget about it! Rice? Yuck!

Blue hour views of Bologna, Italy in Emilia-Romagna

Emilia-Romagna Food Guide

It is funny how your taste buds evolve as you get older. These days I couldn't fathom visiting a country and not diving deep into its local cuisine.



Just a few weeks ago I had the opportunity to revisit Italy for the second time. This time travelling to the region of Emilia-Romagna. I couldn't help but chuckle at how my teenage self would be dancing on the ceiling with excitement over the anticipation of eating freshly prepared pasta.

Even though my palate has expanded, my excitement for Italian food hasn't waned a bit.

Delicious Italian meat on a serving tray to sample

Two years ago Audrey and I visited Italy for the first time. We couldn't believe how much better Italian food is in Italy compared to anywhere else in the world. Milan-oh-me-oh-my!

The Italian food I was having at home was like cardboard compared to what I ate in Italy. Now that I mention it, pasta literally does come out of a cardboard box more often than not when served in Canada.

In Italy, though, it is all about fresh ingredients. Time-tested recipes. And big meals. Shared with friends and family.

Wolfing down your food isn't an option. Thank heavens for that! We tried hard to find a bad cappuccino. A lackluster plate of pasta. An inferior risotto. We failed. The food is just that good.

Now come join us as we give you an overview of our time in Emilia-Romagna. This includes our travel and dining experiences.

Food Lovers in Italy!



Downtown Bologna, Italy at night with the lights shining brightly

Bologna Old Town at Night

Although we only had half a day in Bologna, the city really left an impression upon me. Our first activity was to visit Torre Prendiparte. Once a defense tower and prison. It was built in the 12th century. Now it's an B&B. But still full of antiques and palpable history.

As we climbed up the rickety old steps I kept reminding myself that it was worth it for the views. Although I didn't feel nearly as nervous as when we did the hot air balloon ride in Costa Brava, it still was quite the climb. Upon reaching the top my jaw almost dropped.

Although I've visited many impressive cities in terms of architecture and sheer scale, Bologna has one of the most impressive combinations of medieval towers, ancient buildings and impressive churches I've ever seen.

After having an aperitivo and dinner we walked around the Old Town. I kept telling Audrey that we'd have to come back and revisit.

A Walk Through History

Imagine wandering through narrow, cobbled streets under a canopy of twinkling lights. Welcome to Bologna's Old Town at night. It’s an immersion into centuries of culture, architecture, and Italian charm.

Bologna’s Old Town is a living museum. As you stroll, you’ll pass medieval towers, ancient porticos, and stunning piazzas. Every corner tells a story. The architecture, illuminated against the night sky, gives you a sense of stepping back in time.

By night, the Old Town becomes the heart of Bologna’s social life. Locals and tourists fill the streets - enjoying the lively atmosphere. The piazzas are bustling. Cafes and bars spill out onto the sidewalks. And the air is filled with the sounds of laughter and conversation.

Foodies rejoice! Bologna is known as the food capital of Italy. At night, the city’s eateries come alive, offering everything from traditional tagliatelle al ragù to modern culinary twists. Sit down at a cozy osteria, or grab a quick bite from a street vendor—either way, your taste buds are in for a treat.

La Scienza in Cucina L’arte Di Mangiar Bene by Artusi

Italian Cooking at Casa Artusi

Audrey and I both know we're good at devouring Italian pasta. But how would we fare trying to make it from scratch? Using the excuse that I'd be the photographer/videographer Audrey was the only one who got her hands sticky in the flour and eggs.

As she was making pasta from scratch with the help of an instructor, I spent some time wandering around Casa Artusi in Forlimpopoli. Pellegrino Artusi, the father of modern Italian cookery penned La scienza in cucina e l’arte di mangiare bene known as The Science of Cooking and the Art of Eating Well.

If you can believe it not a single publisher was interested in publishing his book at the time. Today it's a classic in almost every Italian household!

A Culinary Pilgrimage

Nestled in the charming town of Forlimpopoli, Casa Artusi is a haven for food lovers. Dedicated to the art of Italian home cooking, this culinary institution is a tribute to Pellegrino Artusi, the godfather of Italian cuisine. If you're venturing through Emilia-Romagna, a cooking class at Casa Artusi is a must-do. Here, tradition meets taste in the most delightful way.

Imagine rolling up your sleeves and diving into the heart of Italian culinary tradition. Casa Artusi offers you just that—a hands-on experience where you learn the secrets of making perfect pasta, authentic sauces, and mouth-watering desserts. It's not merely a cooking class; it's a journey through Italy's rich culinary heritage.

You’ll learn recipes that have been passed down through generations. You'll gain insights into the cultural significance of each ingredient and technique. It's a rare opportunity to connect with Italian traditions on a deeper level.

Whether you're a seasoned cook or a kitchen novice, Casa Artusi offers a fun, interactive environment. You’ll be mixing, kneading, and tasting alongside fellow food enthusiasts. The atmosphere is relaxed and welcoming, making it a great way to meet new people and share a few laughs.

The best part? You get to enjoy the fruits of your labor. After the cooking session, sit down to a delicious meal of the dishes you've created. Pair them with fine local wines, and you have a dining experience that's as rewarding as it is tasty.

Pinching the dough we created during our cooking class in Italy

We visited Acetaia Di Giorgio to take a traditional Balsamic vinegar tour

Wine and Vinegar Tours

After lunch we visited the Drei Donà estate. Located in between the towns of Forlì, Castrocaro and Predappio in the ancient Romagna hills. After a tour of the premises we sat down to sample the wine and nibble on a few bites. What often impresses me about vineyards in Europe is that they have so much history. And are typically family run dating back generations.

We also had the opportunity to visit Acetaia Di Giorgio in Modena. This traditional balsamic vinegar producer prepares its products using traditional methods. When it was time to sample some, I couldn't believe how rich and flavorful it was. I've never had balsamic vinegar that even compares to what they produce.

Introduction to Wine and Vinegar Tours

Picture this: rolling vineyards, the scent of aging barrels, and the rich flavors of artisanal wines and balsamic vinegars. In Emilia-Romagna, wine and vinegar tours offer a sensory journey through one of Italy’s most celebrated regions. These tours are more than just tastings—they’re an exploration of tradition, craftsmanship, and the land’s bounty.

Wine and vinegar have deep roots in Emilia-Romagna’s history. Touring a vineyard or acetaia (vinegar house) allows you to step into the world of local producers who’ve honed their craft over generations. You'll learn the meticulous processes that transform grapes into exquisite wines and vinegars. Making each sip a taste of history.

This region is renowned for its culinary excellence. Wine and vinegar are at the core. The tours provide a behind-the-scenes look at how these essential ingredients are made. This will enhance your appreciation for their role in Italian cuisine.

Imagine walking through sun-drenched vineyards with views that stretch for miles. The landscape of Emilia-Romagna is breathtaking, with its gentle hills and picturesque valleys. A tour here isn't just about tasting—it's about soaking in the beauty of the region. From robust reds and crisp whites to the complex sweetness of aged balsamic vinegar, the variety on offer is astounding.

Views from outside of the Enzo Ferrari Museum shaped like a Ferrari engine

Enzo Ferrari Museum

Any kid growing up in the 80's and 90's remembers seeing iconic Ferraris in at least one of their favorite flicks. For me, it was Ferris Bueller's Day Off. Having a chance to tour the collection of vehicles in the museum really gave me a greater appreciation for the car. Especially, the style, sophistication and pure muscle of these cars. We got to drive one in Las Vegas.

The engines impressed me the most. I enjoyed that the museum showcased both racing and 'everyday' cars. The building itself is built like a Ferrari engine. And I think even those with no appreciation or interest in cars would still be impressed by a visit to this museum.

Experiencing the Enzo Ferrari Museum:

Imagine stepping into a world where the roar of engines and the sleek curves of iconic cars ignite your passion for speed and style. Welcome to the Enzo Ferrari Museum in Modena. It's a shrine to the life and legacy of the legendary founder of Ferrari. If you're exploring Emilia-Romagna, this museum is a must-visit, offering an unforgettable journey through the history of one of the world's most renowned automotive brands.

The Enzo Ferrari Museum is a celebration of Enzo Ferrari's life and vision. Here, you'll witness a stunning array of Ferrari models, each representing a milestone in automotive innovation and design. The museum showcases both classic and contemporary cars. It highlights the evolution of Ferrari's engineering prowess.

Interactive displays allow you to delve deeper into the technology and artistry behind each vehicle. You can even step into a simulator and feel the thrill of driving a Ferrari on a famous race track. It's a unique adrenaline-pumping adventure. The museum itself is a work of art. Designed by Jan Kaplický, the main building's sleek, futuristic design resembles a giant hood of a sports car. Its bright yellow roof pays homage to Modena's automotive heritage.

An incredible collection of Parmigiano Reggiano wheels at Hombre farm

Parmigiano Reggiano Dairy Farm

A visit to Hombre - a Parmigiano Reggiano dairy farm and Panini Private Collection - is a must for anybody stopping in or around Modena. Starting off as just a side-project for Umberto Panini in the 80's, the Parmigiano-Reggiano farm soon turned into a full-time business.

The storage facility, where they keep the Parmigiano-Reggiano cheese while it ages, is unlike anything I've ever seen before. There are wheels upon wheels of cheese. As far as the eye can see.

We were fortunate enough to sample some. And unlike the kind you find in Canada, this was served thick and tasted infinitely better.

Experiencing Hombre

At Hombre, you step into the world of Parmigiano Reggiano, one of Italy's most iconic cheeses. The farm adheres to traditional methods, ensuring every wheel of cheese is crafted with care and expertise. Witnessing the cheese-making process from start to finish is a fascinating insight into this time-honored craft.

Adjacent to the dairy farm, the Panini Private Collection showcases a stunning array of vintage cars and motorcycles. This collection, amassed by the Panini family, features rare and classic models that any automotive enthusiast would drool over. It’s a visual feast that complements the culinary experience.

Start your visit with a guided tour of the dairy farm. Watch as skilled artisans turn milk into the world-famous Parmigiano Reggiano. From the giant copper vats to the aging rooms lined with wheels of cheese, each step is a testament to craftsmanship and tradition. The tour culminates in a tasting session, where you savor the complex flavors of aged Parmigiano.

The Panini Private Collection is a hidden gem. As you stroll through the collection, you’ll encounter a variety of vintage vehicles, each with its own story. From gleaming Ferraris to classic Maseratis, the range and quality of the collection are impressive. It’s a rare chance to see some of the finest examples of automotive history up close.

#### Enjoying Slow Travel In Germany: Relaxed Visit To Spreewald
My first visit to Germany was all about cities. For a month Audrey and I rented an apartment in Berlin where we stayed a mere stone throw away from Mauer Park.

In terms of side trips, we visited other large metropolitan areas such as Leipzig and Frankfurt. It was a solid introduction to Germany, however, this time around we wanted to focus on smaller locales with a specific focus on German culture and traditions. With this in mind our first destination was Spreewald, a quaint German town surrounded by forests and divided by canals.

Mastering The Art Of Slow Travel in Germany

The first thing I noticed upon our arrival was the slower pace of life. Highways and busy city streets were replaced by country roads. Outside of our hotel window we spotted more deer and insects than we did people. After shaking off our jet-lag it was time to delve into the cultural activities on offer. Our first stop was the Freilandmuseum Lehde, an open-air living museum that felt as though we were stepping back in time. Many of the well preserved homes from the 19th century (and earlier) offered a sobering reality as to what life was like centuries ago prior to modern amenities.



Featuring low ceilings functionally designed to preserve heat, I found myself having to duck at times in order to avoid banging my head. Families used to huddle up at night in close quarters with generations rubbing elbows together. It wasn't uncommon for husband and wife to be sharing a bed with elderly parents or even a child. The concept of theme rooms simply didn't exist. Bedroom, kitchen and living room were all combined into a room. Functionality and practicality over creative design. I couldn't help but feel thankful for many of the modern conveniences we enjoy today.

Why Choose Spreewald for Slow Travel?

If you're looking to embrace the principles of slow travel, Spreewald is the perfect destination. Here’s why:

Unspoiled Nature

Spreewald’s landscape is simply beautiful. Imagine a lush network of rivers, forests, and wetlands all weaving together into a peaceful paradise. As you float through the canals or cycle down quiet paths, you’ll be surrounded by pristine nature, with only the sounds of birds and rustling leaves to keep you company.

Lush forests: Ideal for nature walks and birdwatching.

Meandering waterways: Perfect for quiet boat rides and reflecting on the beauty of your surroundings.

Serene landscapes: Everywhere you look, tranquility abounds.

Traditional Lifestyle

One of the highlights of visiting Spreewald is experiencing the rich cultural heritage of the region. The area is home to the Sorbs, a Slavic minority group with a unique language, traditions, and way of life. Their influence can be seen in the local architecture, cuisine, and handicrafts. As you explore the villages, you’ll feel as though you’ve stepped back in time.

Sorbian culture: Learn about local traditions through festivals, museums, and interactions with locals.

Historic villages: Discover charming villages with traditional houses, each telling its own story.

Cultural immersion: Take the time to talk with locals and learn about their way of life.

Slow-Paced Activities

There’s no need to rush when you’re in Spreewald. The region encourages you to take your time and engage in activities that help you connect with nature and the local culture. From cycling along quiet paths to punting through Spreewald’s famous canals, each experience invites you to slow down and soak in your surroundings.

Cycling: Explore the region’s hidden gems and quiet corners at your own pace.

Punting: Punt through calm waterways and get up close with nature.

Walking: Take leisurely strolls through forests, fields, and villages.

Tip: Embrace a slower pace by opting for eco-friendly transportation like bicycles or canoeing through the Spreewald waterways.

Top Activities for Slow Travel in Spreewald

Here are some of the best activities to consider for those seeking slow travel in a destination like Spreewald.

German Open Air Museum

Visiting the German Open Air Museum in Spreewald is like stepping into a time capsule. This charming museum showcases traditional German homes, giving visitors a glimpse into life as it once was in this picturesque region.

As we continued to tour the premises one of my favorite sections were the outdoor games. Old familiar favorites, such as the potato sack race, were on display. Even as a cumbersome 30 something year old I enjoyed hopping around like a kid again. Things became somewhat more challenging when it came time to try stilt-walking. Trying to get both feet on the foot rests proved more difficult than I expected. After nearly twisting my ankle I finally gave up.

Potato sack race: A classic game that’s fun for all ages.

Stilt-walking: Surprisingly tricky but adds to the fun and challenge.

Interactive exhibits: Perfect for families and individuals who want a hands-on experience.

Tip: Don’t be afraid to jump in and participate in these activities! You might just surprise yourself with how much fun they are—even if you aren’t as agile as you used to be.

Reflecting on Time and Change

Overall, the visit to this cultural museum was an immersive experience that allowed us to step back in time for over an hour. I left with a greater appreciation of how times have changed rapidly in recent decades/centuries. I can only wonder, sometime in the not too distant future, when relics of my childhood may be on display in an open-air museum.

Traditional homes: Offering a glimpse into the craftsmanship of the past.

Outdoor games: Bringing history to life through interactive activities.

Cultural immersion: An educational and enjoyable experience for all ages.

Tip: Take your time as you explore the museum. There's so much to see, touch, and learn, and the more you engage with the exhibits, the more you'll appreciate the rich history of Spreewald.

German Pickle Museum

When it comes to quirky travel experiences, visiting a pickle museum might not be at the top of most people's travel wish lists. But if you’re in Spreewald, Germany, this quirky gem is an absolute must-visit. Known as the Gurkenmuseum (Pickle Museum), this little corner of Spreewald is dedicated solely to the region’s most famous export: pickles. It might sound unusual, but trust me, it’s anything but boring.

Our Experience Visiting the Gurkenmuseum

After wandering back to our hotel it was time to visit the Gurkenmuseum. Now I've been to several food museums over the years, however, I've yet to encounter anything quite as quirky as a museum dedicated solely to the production of pickles. One might think such a niche museum would be boring; it was anything but. On the walls were photos of ladies who had been championed 'cucumber queen' from years past. Each one of them vying for the top recipe of the year.

The winner, was fortunate enough to have her recipe used and produced locally until the next champion was crowned. With several samples on offer we couldn't wait to do a taste test. I naturally selected the winning recipe first and enjoyed the deliciously sweet taste of the pickles. My favorite one though was a more salty and sour mixture featuring mustard which made Audrey scrunch up her face.

Cucumber Queen competition: Local women compete for the best pickle recipe each year.

Historic photos: The walls are adorned with photographs of past winners, showcasing their pride and accomplishments.

Local production: The winning recipe is produced and sold locally until the next competition.

Tip: Don’t miss the chance to learn about the local pickle-making process, which has been passed down for generations. It’s more intricate than you might think!

Punting In Germany

On our second day we awoke to spot a deer outside of our lodge window. In many ways, it was an auspicious precursor to what would be an entire morning dedicated to exploring the plethora of canals by punt.



What exactly is punting you say?

A punt is a flat-bottomed boat featuring a square-cut bow, designed specifically for navigating shallow rivers. It is propelled by a pole, typically 4 to 5 meters long. As we sat down and relaxed taking in all of the wildlife, forests and isolated traditionally built German homes we passed on the canals, I couldn't help but marvel at the technique and stamina of our punter guide.

With graceful skill he pushed our boat down the shallow river bed. At one point in time these punts were used to transport animals, and today mail is delivered to homes on tiny islands. I was almost tempted to give it a try, however, my previous experiences doing such things as standup paddleboarding in Finland made me think twice given my lack of coordination on the water. Instead I gladly captured as many photos and video clips as possible.

Punter’s skill: A combination of strength, balance, and experience.

Graceful movements: Watching the punter navigate the boat is part of the experience.

Attempt or relax?: While tempting to try, punting requires more coordination than it appears.

Tip: Keep your camera ready—there’s so much natural beauty to capture as you glide through the canals.

Here are some more photos from our time spent in Spreewald:

Best Time to Visit Spreewald for a Relaxed Experience

Choosing the right time to visit Spreewald can make a big difference in your travel experience. Each season offers its own charm, but some times of the year are particularly suited to slow travel.

Spring and Summer

From April to September, Spreewald is in full bloom. The forests and meadows come alive with vibrant greenery, and the waterways sparkle under the warm sun. This is the best time for outdoor activities, whether you’re paddling down a canal or cycling through scenic paths.

Mild weather: Ideal for outdoor activities like cycling and canoeing.

Blooming nature: Enjoy the beauty of wildflowers and lush green landscapes.

Extended daylight: Take advantage of long days to explore more at a relaxed pace.

Autumn

If you’re looking for a quieter, more reflective time to visit Spreewald, consider the autumn months. From September to November, the region is bathed in warm, golden hues as the leaves change color. The crisp air and fewer crowds make this the perfect time for picturesque walks and soaking in the natural beauty.

Crisp air: Perfect for long walks through forests and along the canals.

Changing leaves: A stunning display of fall foliage.

Quieter atmosphere: Fewer tourists, allowing you to enjoy a peaceful experience.

Tip: Visit in late spring for ideal temperatures, blooming gardens, and fewer tourists.

Immerse Yourself in Local Culture and Traditions

Slow travel is all about connecting with the culture of the place you’re visiting. In Spreewald, the local Sorbian culture adds a rich layer of history and tradition to your experience.

Sorbian Culture

The Sorbs are a Slavic minority group that has lived in Spreewald for centuries. Their unique traditions, language, and way of life are still very much alive in the region today. Visiting museums or attending local festivals can give you a deeper understanding of their culture.

Learn about local traditions: Festivals, music, and art play an important role in Sorbian culture.

Visit museums: Discover the history of the Sorbs and their contribution to the region.

Meet locals: Engage with the Sorbian people and learn about their way of life firsthand.

Local Crafts

Spreewald is known for its artisan crafts, many of which have been passed down through generations. Basket weaving is one of the most traditional crafts in the region, and visiting an artisan workshop is a wonderful way to see these skills in action.

Watch artisans at work: Visit local workshops to see basket weaving and other crafts.

Handmade souvenirs: Purchase authentic, handmade items directly from artisans.

Support local traditions: By purchasing local crafts, you help preserve these traditional skills.

Culinary Delights

No visit to Spreewald would be complete without indulging in the local cuisine. The region is famous for its Spreewald pickles, but there’s so much more to taste! Traditional Sorbian dishes, made with fresh, local ingredients, offer a delicious way to immerse yourself in the culture.

Spreewald pickles: A must-try specialty of the region.

Traditional dishes: Savor hearty, flavorful meals made with locally sourced ingredients.

Local markets: Visit farmers’ markets to taste fresh, seasonal products and homemade treats.

Tip: Don’t miss the chance to visit local markets for fresh, seasonal products and homemade treats.

Where to Stay in Spreewald for a Slow Travel Experience

Accommodation plays an important role in slow travel. In Spreewald, you’ll find plenty of options that allow you to experience the region’s charm while maintaining a slower, more relaxed pace.

Traditional Guesthouses

For an authentic experience, stay in a traditional guesthouse. These cozy accommodations are often run by local families and offer a warm, welcoming atmosphere. It’s the perfect way to feel at home while exploring the region.

Cozy atmosphere: Enjoy the comfort of a home-like setting.

Local character: Each guesthouse reflects the culture and traditions of the area.

Personal touch: Hosts often provide insider tips and stories about the region.

Eco-friendly Hotels

If you’re passionate about sustainability, there are plenty of eco-friendly accommodations in Spreewald. These lodges and hotels focus on minimizing their environmental impact while providing comfortable, nature-inspired stays.

Sustainability-focused: Stay in accommodations that prioritize eco-friendly practices.

Nature-friendly design: Enjoy modern comforts while staying close to nature.

Environmentally conscious: Support businesses that are committed to preserving the region’s beauty.

#### Excuses Not To Travel: I'm Too Old + Not Enough Money + Career Ruin?
Imagine yourself standing on the peak of an awe inspiring mist awning mountain with nothing more than nature´s glory sprawling out at you in every direction.  If that doesn´t tickle your fancy, how about visiting that sacred temple that you thought was only accessible through the sticky pages of National Geographic Explorer?

It doesn´t take a lot of convincing to express that the rewards and benefits of extensive and extended travel are almost inexhaustible; however, the excuses why ´most´ never get out and experience adventures on the road are numerous.  The most typical excuses aren´t exclusive to just travel, but there are some that seem more unique/specific to this given topic.

I Can't Travel Because = It's Just Too Expensive

The truth is that travel in developing countries is far CHEAPER than the cost of living for an average month if you hail from a first world developed nation.  The expenses you avoid while traveling are numerous.  The cost of living the high life with the swanky pad, vehicle, insurances, various (essential and non-essential) subscriptions, taxes and a multitude of other cash deplete-rs simply do not exist while you´re carrying nothing but a backpack.

As a rule of thumb, one can get by quite comfortably in areas such as South East Asia and many other developing nations with a daily budget of $20 to 40 which stretches anywhere between $600 to 1200 USD a month.  Oneis not scrimping with this kind of budget feasting on three square meals of generous sized portions of local food per day, sight-seeing most afternoons, going on occasional organized tours, semi frequent nightlife and transportation to and from  place to place.

Some have a harder time giving up creature comforts they find back home while others become frugal in ways they had never imagined.  The budget I´ve given allows for the flexibility of the subjective traveller with all of their specific needs and individual quirks.

And while flights can be a little pricey, there are ways around that too. By obtaining travel credit cards via sites like Frugal Flyer, you can travel for free (or FAR less)... all while treating yourself to the occasional business class seat!

Anyhow, the verdict is in. Travel in most parts of the world is significantly cheaper than the boxed-in lifestyle (one often wracked with anxiety and discontent) back home.

Real-Life Example:

This backpacker has been on the road for over two years having left home with nothing more than $500 in his pocket.

I'm Not Able To Travel Because = I'll Ruin My Career

I think this might be the most common excuse I´ve heard by far.  I´ll be destroying my career if I take X amount of months off or a whole year from work or study.
I won´t be able to get hired or pick up my studies again and I´ll have a hole the size of the Rocky Mountains in my otherwise spiffy and impressive resume.  What one often doesn't realize is that the job you feel that won´t be waiting for you back home is likely not the only option one has to consider.
If one absolutely feels they're limited to living in a specific city, house and job; however, if you have skills that are highly employable you´ll land that cushy job once again with nothing but ease.  If you´re a trained professional you won´t find any shortage of students to teach, needles to poke or jerks to sue.
The conditions and reality of life doesn´t change overnight just because you´re not there for a year.  I´ve seen numerous people quit and then find even better jobs after they´ve come back home.  The truth of the matter is that backpacking changes you immensely and more often than not in a positive manner.
When you realize you can get by for an entire year with nothing but a 12 to 15kg pack on your back you´re probably less likely to go back home and continue hoarding, polishing, collecting and spending money on stuff in ridiculous ways that never even came close to fulfilling you in the first place.
Personally, I´ve found employers are often fascinated by those who have done ´unique´ things and backpacking definitely is given high priority in this  broad category.  The time away from the hamster wheel of daily routines may also give one a broad new perspective leading one towards an exciting new career that otherwise would have never been discovered.
Real Life Example:
This nomad has been abroad since 2003 requiring nothing more than a laptop and an internet connection.

I'm Shouldn't Travel Because = I'm Too Old

I must admit this one makes me chuckle.  I´m in my late twenties and feel the world is my oyster, but I´ve seen a few seasoned and jaded characters in my day who wouldn´t have done much to convince me that they were backpacker material; however, I´ve since changed my global opinion considerably when I witnessed with my own two eyes individuals in their 70´s and 80´s doing jungle treks, mountain climbing, safaris and white water rafting.

They screamed, roared  and laughed loader than the crowd less than half their age and had a common thread of being young at heart and full of adventure, excitement and enthusiasm.  It´s never too late to get off your ass and get out of your well defined and ridiculously rigid comfort zone, but it does take a bit more initiative and enthusiasm I would imagine as you advance in years.

I´m not even thirty, totally healthy and physically fit, so I can´t comment too much on the area of daily physical challenges but just let it be known that there are those who are much older than you who are enjoying the times of their lives without the aforementioned aches, pains and moaning that might be associated with a more mature traveller. The bottom line is simply this – travel can be done at any age.

Real Life Example:

This digital nomad hit the road to successfully pursue a travel career as a writer and photographer around the time when most individuals are thinking more towards a lifestyle of retirement.

The Benefits of Travel: Why You Should Overcome Your Excuses

Lack of Time

One of the most common excuses is the belief that there’s simply not enough time to travel. Work, family, and other responsibilities seem to fill every moment, leaving little room for adventure. However, travel doesn't always mean a long, extended break. Weekend getaways, short road trips, or even day trips to nearby towns can offer the same sense of escape and exploration.

How to Make Time for Travel:

Schedule trips in advance to block off time and treat them as a priority.

Plan around long weekends or public holidays to maximize your vacation time.

Opt for "micro-travel"—short trips that allow you to recharge without needing a lot of time away.

Remember, even a short trip can break up your routine and rejuvenate your spirit.

Lack of Money

Another major hurdle for many people is the cost of travel. It’s easy to believe that only those with deep pockets can afford to explore the world, but that’s not true. There are countless ways to make travel affordable without sacrificing experience.

Budget-Friendly Travel Hacks:

Travel during the off-season for cheaper flights and accommodations.

Choose budget destinations where your money stretches further. Southeast Asia, Eastern Europe, and Central America are great for affordable adventures.

Use points from credit cards or frequent flyer miles to cut travel costs.

Stay in hostels, Airbnb, or even try house-sitting to save on lodging.

Use local transportation and eat street food to experience culture on a budget.

With careful planning, travel can be accessible to almost anyone.

Fear of the Unknown

Traveling to unfamiliar places can feel intimidating. Concerns about language barriers, cultural differences, or navigating a foreign city are understandable, but they can be overcome with preparation.

#### Fernie Travel Guide | Best Things to Do in Fernie, British Columbia
Fernie didn’t just kick off our BC road trip—it hijacked it in the best possible way.

We rolled into town with a car full of camera gear, hiking boots and baby toys, and within a couple of days Fernie had completely won us over: burritos on a sunny patio, mining stories that read like a Netflix drama, stroller-friendly flower walks, a waterfall hike with our “chunky monkey” snoozing in the backpack, craft beer with big mountain views, and an alpine lodge so dreamy it felt like Banff and Lake Louise had a quieter, cooler cousin.

A sunny family hiking moment at Island Lake Lodge as we explored the lakeside trails surrounded by towering evergreens and crystal-clear water. Samuel carries baby Aurelia in the backpack while Audrey leads the way with a big smile—one of our favourite Fernie memories. The calm lake and forest backdrop capture the peaceful alpine vibe perfectly.

For context: I grew up in small-town British Columbia, and we’re currently based just over the border in southern Alberta, so we’ve spent years road-tripping the Rockies. Fernie instantly reminded me of my hometown (Gold River) in all the best ways—industry roots, tough history, and a community that reinvented itself around the outdoors. That lived-in, local feel is a huge part of why we loved it.

If you’re planning your own Fernie travel guide in real life—maybe a family weekend, a ski road trip, or a summer loop through BC—this article walks you through the best things to do in Fernie, split into two clear sections: what we actually did and filmed, and extra ideas we didn’t get to this time.

Audrey enjoys a quiet moment overlooking the still waters of Island Lake Lodge, one of the most scenic spots we visited in Fernie. The mountain backdrop, lush evergreens, and classic wooden chairs capture the perfect blend of calm and alpine beauty. It felt like the kind of place you never want to leave. We certainly didn't!

Fernie, BC Snapshot

TopicQuick AnswerRegionElk Valley, East Kootenay, southeastern British ColumbiaSettingCompact small city fully surrounded by the Canadian Rockies on the Elk RiverVibeLaid-back, outdoorsy, a little scruffy in the best way: ski-bum energy meets small-town BCWho It’s ForOutdoor lovers, road trippers, families, skiers, bikers, low-key nature seekersOur Trip Style2-day family visit with a baby, focusing on easy hikes, history, and great foodCost FeelMid-range mountain town: casual bagels & burritos, plus splurge-worthy alpine lodgeGetting ThereOn Highway 3 (Crowsnest), ~1 hr from Cranbrook, ~3-4 hrs from Calgary by carCar Needed?Strongly recommended for trailheads, lakes, Island Lake Lodge, and the ski resortBest Time to VisitSummer for hiking and lakes; winter for skiing; shoulder seasons for quiet & dealsSignature ViewsLizard Range and surrounding peaks looming dramatically over downtown Don’t MissFairy Creek Falls, Historic Downtown & museum, Maiden Lake, Fernie Brewing Co., Island Lake Lodge

🧭 Quick Booking: Your Fernie Travel Essentials ✈️

If you’re planning your trip to the East Kootenays, these are the four bookings that make everything smoother — your base, adventures, transport, and freedom.

🎒 Your Travel Toolkit

🔖 What to Book💡 Why It’s Worth It🔗 Quick Link🎟️ Tours & ExperiencesSkip the logistics and explore Fernie + the Elk Valley with local guides (easy wins when weather turns or time is tight)👉 Browse Fernie & Elk Valley tours on Viator🏨 Hotels & StaysLock in the right base (walkable town vs. ski hill vs. highway convenience) — especially on weekends + peak season👉 Find Fernie hotels on Booking.com🚗 Car RentalsThe easiest way to do day trips, chase viewpoints, and keep your schedule flexible👉 Compare car rentals for Fernie on DiscoverCars (pick in up Cranbrook)🚌 Bus TicketsIf you’re piecing together regional transport, checking schedules early saves headaches👉 Check bus routes to/from Fernie on Busbud

https://youtu.be/RoRAhuPKiRE

Top Things To Do in Fernie, BC (From Our Video)

This section is 100% first-hand: what we actually did, ate, walked, and filmed over two days in Fernie with baby Aurelia in tow.

Samuel digs into a loaded burrito at Luchadora Burritos, one of our first and tastiest stops in downtown Fernie. The casual patio, warm weather, and generous portions made it the perfect fuel for a full day of exploring. It’s a great first bite for anyone arriving hungry in town.

Lunch at Luchadora: Burrito Fuel for the Trip

We rolled into Fernie right at lunchtime and made a beeline for Luchadora Burritos in the historic downtown. Think sunshine and giant burritos that require both hands. I ordered a beef burrito loaded with rice, cabbage and sauce; Audrey went for fried cod with beans; baby Aurelia happily squeezed fruit purée and judged us for not sharing. 

It was that classic first-lunch-of-the-road-trip moment: hungry, slightly frazzled adults, happy baby, and the feeling of, “Okay, NOW the trip has finally officially started.”

This macro shot from Luchadora Burritos shows just how stacked and flavour-packed our first Fernie meal really was. Warm tortilla, creamy sauce, tender beef, crunchy cabbage, seasoned rice—every bite hit differently. A must-stop spot if you’re arriving hungry.

Why it’s worth it:Burritos are a perfect pre-adventure base—lots of carbs, flavour, and easy to customize. Plus you’re already in the heart of downtown, so you can roll straight into exploring.

Who it suits:Road-tripping couples, hungry families, anyone who wants fast, good food before sightseeing.

Best time of day:Lunch or early afternoon. Luchadora is seasonal patio-style

How long to budget:45–60 minutes including ordering, eating, and wrangling small humans.

Cost feel:Budget to mid-range for a solid, filling meal.

A closer look inside the Fernie Museum, where interactive exhibits and historic photos bring the town’s mining past and early disasters to life. It’s a compact but highly informative stop that adds depth and context to any visit. Perfect for travelers wanting to understand Fernie beyond the trails.

Fernie Museum: Mining Disasters, Firestorms & a Reinvention Story

From Luchadora, we walked over to the Fernie Museum, housed inside a handsome brick building that used to be the Home Bank. Inside, the permanent exhibit reads like a mini-series: coal boom, mine explosions, fires, banking scandal, prohibition-era rum-running, and eventually reinvention as an outdoor tourism hub.

A few pieces of Fernie history that really stuck with us (and that you’ll see echoed around town):

1902 Coal Creek mine disaster:Around 128 miners killed in a single explosion, one of the worst coal mining disasters in Canadian history. 

1904 downtown fire:A massive fire tore through the commercial district, taking out around 65 buildings. 

1908 Great Fire:The entire town went up in flames in under 90 minutes; only the mine office survived, which today is Fernie City Hall. 

1923 Home Bank collapse:The national bank that operated here failed spectacularly, wiping out local savings and hitting towns like Fernie hard.

1986 onward:The last underground mine closed, and Fernie began leaning harder into tourism: skiing, hiking, biking, river sports, and mountain culture. 

These beautifully preserved vintage tins at the Fernie Museum offer a glimpse into the brands and household products that once filled local pantries. From biscuits to shortening and lard, each container reflects the everyday life of early Fernie residents. It’s a quirky little detail that adds personality to the museum’s broader mining and settlement story.

We loved how the museum connects all of this to real people and places. You’re not just reading panels; you’re seeing photos of miners and artifacts that are part of its unique history. It also mirrors stories from other BC towns we’ve visited and, for me, echoed the ups and downs of my own hometown of Gold River on Vancouver Island.

Why it’s worth it:It turns Fernie from “cute mountain town” into a place with real depth. You’ll understand the architecture, the murals, and even the rum-running stories much better afterward.

Who it suits:First-time visitors, history lovers, curious teens, and anyone needing a weather-safe activity.

Best time of day:Late morning or mid-afternoon—great if the weather is extreme (too hot, too cold, or pouring rain).

How long to budget:60–90 minutes for the exhibits, plus a quick browse in the small gift shop.

Cost feel:Admission is typically by donation, which is incredible value and ensures maximum flexibility for visitors

Samuel pauses for a photo in front of Fernie’s beautiful City Hall, a landmark known for its stone façade, turret-like details, and colourful flower gardens. It’s one of the most charming civic buildings in the Kootenays and a great first stop for anyone exploring downtown Fernie. The perfect mix of heritage and small-town pride.

City Hall Gardens & Fernie Heritage Walk: Stroller-Friendly Charm

Stepping out of the museum, we did exactly what I recommend you do: wander toward Fernie City Hall. The building itself is part of Fernie’s survival story—the former mine office that somehow made it through the Great Fire of 1908, now standing in front of manicured gardens buzzing with bees and butterflies. Our baby was absolutely transfixed by the flowers while we checked out the miner statue and mountain views.

We picked up the Fernie Heritage Walking Tour brochure (you can also find it via QR code) and began spotting historic buildings as we walked:

The courthouse and its grand architecture

Brick-clad commercial blocks along 2nd Avenue

A beautiful church up the road

The library and other civic buildings

This quiet moment outside the Fernie Courthouse highlights the community’s war memorial, a statue honouring local soldiers who served and sacrificed. The red-brick courthouse creates a striking backdrop, adding depth and texture to the scene. It’s one of those spots that reveals Fernie’s deeper stories beyond the adventure trails.

It’s an easy, stroller-friendly route and a great way to get your mental compass set: where the river is, which streets have the best views, and where you want to come back for coffee or dinner later.

Why it’s worth it:You get architecture, history, mountain scenery, and “life in Fernie today” all in one loop.

Who it suits:Families with strollers, casual walkers, photographers, and anyone easing into town after a long drive.

Best time of day:Late afternoon or early evening for softer light and cooler temps.

How long to budget:1.5–2 hours at a relaxed pace with plenty of photo and coffee stops.

Cost feel:Free, aside from snack and drink breaks.

Need to know:The museum often offers guided heritage and themed walking tours (including ghost tours and cemetery tours) in peak seasons—these add even more storytelling if you’re into it.

Audrey dives into the Switchback Salmon Stack, one of Big Bang Bagels’ most iconic creations. Loaded with cream cheese, sprouts, red onion, and that rich, buttery salmon, it’s basically a West Coast classic wrapped in everything-bagel goodness. A perfect fuel-up before hitting Fernie’s trails and cafés.

Breakfast at Big Bang Bagels: “Getting Banged” Like a Local

Day two started strong at Big Bang Bagels, Fernie’s bagel HQ and the place where everyone seems to converge in the morning. Locals talk about “getting banged” (in the most wholesome way possible): you order a stuffed bagel sandwich with a fun name and roll out with a hot coffee in hand.

Our lineup:

The Avo Launcher: Avocado, cheddar, cream cheese, red onion, and herby mayo on a fresh bagel—ridiculously satisfying trail fuel.

Switchback Salmon Stack: Cream cheese, alfalfa sprouts, red onion… basically a West Coast classic in bagel form.

The hand-drawn chalkboard menu at Big Bang Bagels sets the tone for Fernie’s favourite breakfast stop, packed with playful names and hearty combinations. From classic cream cheese spreads to loaded bagelwiches, it’s the kind of menu that makes choosing almost impossible. A must-see (and must-eat) stop for hungry travellers.

We sat inside watching people grab takeaway bagels and coffees before heading to the trails, and it immediately felt like we’d tapped into the morning routine of the town.

Why it’s worth it:Fast, filling, and portable—we ate on-site but noticed most patrons were in grab and run mode

Who it suits:Everyone: families, vegetarians, fussy eaters, hangry hikers.

Best time of day:Early to mid-morning; it gets busy, especially on weekends and powder days.

How long to budget:30–45 minutes to order, eat, and caffeinate; 10–15 minutes if you just swoop in for a takeaway.

Personal note:We ordered two different bagels and used them as our main breakfast —strong endorsement from both parents and one very curious baby.

A perfect mother-daughter moment between Audrey and baby Aurelia at Maiden Lake, where the calm water and towering Lizard Range peaks frame an already heart-melting scene. This easy loop is ideal for families, giving little ones fresh mountain air and parents a chance to soak in Fernie’s beauty. One of our favourite peaceful stops in town.

Maiden Lake: Baby-Friendly Loop with Big-Mountain Backdrop

From downtown, we drove to Maiden Lake, a pretty little pond-lake hybrid with a flat loop trail with epic mountain views. Locals use it as a quick walk, a place to cool off, or a jumping-on point for the Fernie Valley Pathway, a 5.3 km paved multi-use path that connects the Visitor Centre, Maiden Lake, Annex Park, and Mount Fernie Provincial Park.

We pushed the stroller around the lake while Aurelia yelled encouraging things at the ducks (baby talk, but we got the gist). It was mellow, beautiful, and exactly what we needed to kick off our day. 

A peaceful stroller-friendly walk around Maiden Lake, with Fernie’s Lizard Range rising in the background, made this outing an easy family favourite. Audrey and baby Aurelia enjoyed the smooth path, big mountain views, and the gentle quiet that makes this loop perfect for new parents. An ideal low-effort, high-reward stop in Fernie.

Why it’s worth it:Minimal effort, maximum payoff: mountain reflections on the water, easy walking, and a great spot to stretch your legs or let the kids run around.

Who it suits:Families with young kids, anyone recovering from a bigger hike, or travellers breaking up a long drive.

Best time of day:Morning for reflections and cooler air; evenings for golden-hour photos.

How long to budget:30–60 minutes for the lake loop; longer if you connect onto the Valley Pathway.

Cost feel:Free.

Need to know:The trail and wider wetland area are used by wildlife—keep an eye out for birds, turtles, and the usual mountain suspects.

Fairy Creek Falls is one of Fernie’s most rewarding yet accessible hikes, and the waterfall looks especially magical with the soft motion blur of a long exposure. Surrounded by mossy rock walls and shaded forest, it’s a peaceful spot to take a break before looping back to town. A perfect family-friendly nature fix.

Fairy Creek Falls: Our “Chunky Monkey” Waterfall Hike

If you only have time for one hike in Fernie with kids, Fairy Creek Falls is hard to beat. The trail starts right from the Fernie Visitor Information Centre on Highway 3, which is honestly one of the nicest trailheads you could ask for: clean washrooms, spacious bathrooms for baby changes, interactive displays, maps, and helpful staff. We chatted with them, grabbed a map, and then strapped Aurelia into the hiking backpack—our “sedan” for the day.

The hike itself is classic Fernie:

Gentle but steady forest trail

Avalanche terrain signage (we were there in summer, but it’s a good reminder that this is real mountain country)

Final payoff at a pretty waterfall tumbling into a rock bowl

Aurelia slept through most of the climb while I sweated like a pack mule. She woke up right at the falls, looked around like, “Yes, good job, team,” and made it instantly feel worth the effort.

Fairy Creek Falls made for such a fun family outing, with Samuel carrying our little “Chunky Monkey” in the hiking carrier as we wandered through Fernie’s gorgeous forest. The trail is easy, shaded, and full of that mossy mountain magic that makes the Kootenays so special. A great hike for parents wanting fresh air without the stress.

Stats-wise, Fairy Creek Falls is generally described as an easy-to-moderate hike: roughly 4–5 km return, about 100–140 m of elevation gain, and around 1–1.5 hours for most walkers.

Why it’s worth it:You get a legit waterfall and forest experience without committing to a long or technical hike. It also feels like a “locals’ favourite” rather than a big-ticket tourist spot.

Who it suits:Families, casual hikers, photographers, and anyone who can handle a couple of hours on uneven trail.

Best time of day:Morning or late afternoon to avoid midday heat and crowds; we went in cooler weather and it was perfect.

How long to budget:1.5–2 hours at a relaxed pace with photos and snack breaks.

Cost feel:Free.

Need to know:

Trail conditions can be muddy in spring or after rain.

In winter, sections can be icy and you may need traction aids.

This is bear country—carry bear spray, make noise, and check local advisories. 

Nothing hits quite like a post-hike pint, and Samuel wasted no time diving into a Ridgewalk Red at Fernie Brewing Company. The taproom has such a relaxed, mountain-town vibe—perfect for cooling down after a big day on the trails. If you love trying local craft brews when you travel, this is an essential Fernie stop.

Fernie Brewing Co.: Ridgewalk Red & Reward Beer

Post-hike, we did what any good Canadian mountain town visitor does: Fernie Brewing Company. Set slightly out of downtown, it has a relaxed tasting room and a patio with big views of the surrounding peaks. I ordered a Ridgewalk Red Ale, which tasted even better knowing I’d just hiked with a sleeping baby strapped to my back.

Fernie Brewing is very much a “beer and snacks” kind of place: expect pints, flights, and simple bites (chips, pretzels, etc.) rather than a full sit-down meal. That's not an option. We treated it as our post-hike reward stop and prelude to our lunch / dinner.

Ridgewalk Red Ale takes center stage in Fernie Brewing Company’s cozy taproom, catching the light just right to show off its deep amber color. It’s the perfect reward after a mountain adventure—or honestly, even without one. A must-try pour for craft beer lovers passing through Fernie.

Why it’s worth it:Excellent craft beer. It also gives you a feel for Fernie’s young, outdoorsy side.

Who it suits:Beer lovers, couples, groups of friends; kids are often welcome (Aurelia was a happy camper)

Best time of day:Late afternoon après-hike or après-bike.

How long to budget:60–90 minutes for a tasting flight or a couple of pints.

Cost feel:Mid-range; craft pints are never cheap, but the quality is there.

Need to know:Don’t show up starving expecting a full meal—this is a “drinks and snacks” stop. Check their website or socials for current hours, patio openings, and any special releases. 

If you look closely, you’ll spot a tiny canoe drifting across Island Lake—a reminder of just how massive and humbling these mountains really are. The layered peaks and dense pines make this one of Fernie’s most cinematic backdrops. It’s the kind of place that stops you in your tracks, even if you’ve seen a thousand alpine lakes before.

👉 Check out Fernie hotels, resorts and lodges on Booking.com

Island Lake Lodge: The “Is This Even Real?” Alpine Finale

Our grand finale in Fernie was Island Lake Lodge, and it honestly felt like the trip levelled up BIG TIME. You drive about 30 minutes from town, much of it along a gravel road through tall old-growth forest, and then suddenly the trees part and you’re in a mini alpine kingdom: wooden lodges, a turquoise lake, and huge peaks towering behind everything.

Audrey couldn’t resist diving into a steaming bowl of ramen at Bear Bistro, made even better by the unreal mountain views surrounding Island Lake Lodge. There’s something magical about enjoying comfort food with crisp alpine air all around you. This is easily one of Fernie’s most scenic lunch spots.

We had lunch at the Bear Bistro, which hit that perfect sweet spot of comfort food and mountain views:

A steaming bowl of ramen that transported Audrey straight back to Japan

A smashed-patty burger that felt suspiciously like a mountain-town Shake Shack

Desserts: a salted caramel ice cream sandwich and a nostalgic Jos-Louis-style cake

Meanwhile, Aurelia… slept through the entire meal like an absolute legend, giving us one of the most peaceful lunches we’ve had since becoming parents.

Audrey pauses on the trail at Island Lake Lodge, framed by enormous evergreens that make every hiker feel wonderfully small. This path winds through some of Fernie’s most tranquil old-growth forest, offering cool shade and soft light even on warm days. A perfect moment for anyone who loves quiet alpine walks.

After lunch, we walked down to the lake and followed an easy lakeside trail, watching the reflections shift as clouds moved across the peaks. Island Lake is also the base for longer hikes into the Lizard Range (trails like Spineback and Tamarack), and more than 100 km of routes crisscross the surrounding terrain.

We both instantly agreed: next time, we’re coming back to stay a few nights—ideally in a snowstorm so we can get “stuck” here on purpose.

Why it’s worth it:It feels like a high-end Banff/Lake Louise experience, but tucked away and much less crowded. Food, scenery, and trails are all superb.

Who it suits:Couples, foodies, hikers, photographers, and families looking for a splurge day or overnight escape.

Best time of day:Late morning to late afternoon; lunch plus a short hike is a perfect combo. Golden hour on the lake is stunning.

How long to budget:At least a half-day; a full day or overnight stay is even better.

Cost feel:Splurge compared to in-town options; worth it if you treat it as a highlight or celebration meal.

Need to know:

Summer: Road access, restaurant hours, and guided hikes follow a seasonal operations calendar. 

Winter: Vehicle access may be restricted; Island Lake operates as a backcountry cat-skiing lodge with specific access rules.

This low vantage point along the rail line in Fernie creates a striking sense of depth, with the tracks pulling your eyes straight toward the horizon. The soft haze and quiet surroundings make it feel like a moment of stillness between passing trains. A simple but atmospheric scene you’ll spot all over the Elk Valley.

🏨 Where to Stay in Fernie (Our Top Hotel Picks)

⭐ Quick Booking Box: Fernie Hotels (Compare Rates)

PickBest forVibeBooking link🏆 Top Pick: Best Western Plus Fernie Mountain LodgeFirst-timers & families who want a comfy, well-reviewed base with great facilitiesIndoor pool, hot tubs, restaurant, solid location near town👉 Compare Best Western Plus Fernie Mountain Lodge (Booking.com)⛷️ Ski-Area Stay: Fernie Slopeside LodgePowder days & ski access without long drivesSki-area convenience plus mountain views👉 See Fernie Slopeside Lodge (Booking.com)🏨 Mid-Range: Lizard Creek Lodge or Fernie Stanford ResortWalkable town stays with a bit more character & amenitiesClassic mountain-town hotels with pools/hot tubs👉 Browse mid-range Fernie hotels (Booking.com)🌲 Cabins / Cozy Stay: Snow Creek Lodge or Pinnacle Ridge CondosCouples & small groups who want more space + scenic staysMountain views, hot tub, private space👉 Check Snow Creek Lodge & cabins (Booking.com)💰 Budget: Canada’s Best Value Inn & Suites FerniePractical choice for road-trippers & value seekersSimple comfort with pool & sauna close to town👉 Find Canada’s Best Value Inn & Suites Fernie (Booking.com)

🔎 Want to browse all options instead?

👉 Compare all Fernie hotels on Booking.com

More Amazing Things to Do in Fernie (We Didn’t Cover in the Video)

Now let’s talk about the stuff we didn’t manage to squeeze into our two days, but absolutely would add on a longer Fernie trip. I’ll keep these shorter, since your core “must-do” loop is everything above.

Ski or Ride Fernie Alpine Resort

Fernie Alpine Resort is legendary for its five big alpine bowls, deep snow, and long thigh-burning runs. In winter you’re riding lifts into proper Powder Highway terrain; in summer you get scenic chairlift rides, alpine hiking, and a full-on bike park with dozens of trails from beginner to expert. a

Good for: Skiers and riders in winter; hikers, bikers, and families seeking lift-accessed viewpoints in summer.

Time needed: Half-day to full day.

Cost feel: Mid-to-high

Ride the Fernie Mountain Bike Network

Fernie quietly punches way above its weight in mountain biking. A mix of cross-country trails, technical descents, and bike-park laps at the alpine resort gives you endless options. Names like Stove Trail, Project 9, and Dem Bones show up frequently on local trail maps. 

Good for: Everyone from beginner riders (with guidance) to experts.

Time needed: Anywhere from a quick 1-hour spin to a full day.

Cost feel: Free if you own a bike; mid-range if renting or joining shuttles/lessons

Explore More of Mount Fernie Provincial Park

We sampled the Fairy Creek side of things, but Mount Fernie Provincial Park has a web of forested trails, creeks, and viewpoints only minutes from town. It’s ideal for hikers, trail runners, and anyone wanting that “deep forest” feeling.

Good for: Intermediate hikers, nature lovers, trail runners.

Time needed: 2–6 hours depending on route.

Cost feel: Low or free day use

The Elk River is at its most peaceful here, with crystal-clear water drifting past wild grasses and smooth riverside stones. Even on a hazy day, the layers of forest and distant peaks create a soft, dreamy backdrop. It’s the kind of spot that makes you slow down and breathe a little deeper.

Paddle, Float or Raft the Elk River

The Elk River is the backbone of the valley. In summer, local operators run whitewater rafting trips, scenic family floats, and sometimes guided SUP outings on sections of the Elk and nearby Bull River.

Good for: Adventure lovers (whitewater) and families/photographers (gentler sections).

Time needed: Half-day or full day.

Cost feel: Mid-range for guided river activities

✅ See top-rated Fernie & East Kootenay tours on Viator

Cross-Country, Snowshoe & Winter Extras

If your Fernie visit is a winter one, don’t just stop at downhill skiing. You’ve also got cross-country trails at places like the Fernie Nordic Centre, fat biking routes, snowshoe loops, and winter events that make evenings feel festive.

Good for: Mixed-interest groups where not everyone skis or boards.

Time needed: 2–4 hours per activity.

Cost feel: Mostly mid-range; gear rentals and passes add up, but some loops are free if you already have equipment.

This iconic carved bear greets visitors along one of Fernie’s forest paths, blending perfectly with the surrounding trees and shifting seasons. It’s a fun little landmark that adds character to a walk or hike. If you spot it, you know you’re officially in Fernie territory.

🚐 Book Transport & Car Rentals for Greater Flexibility

Whether you’re flying in, driving over, or planning day trips, locking in transport early usually means better prices + fewer last-minute compromises.

Your planBest optionLink🚗 Local exploring + day tripsCar rental👉 Compare Fernie car rentals on DiscoverCars (Cranbrook pickup)🚌 Regional connectionsBus tickets (where available)👉 Book bus routes to/from Fernie on Busbud

💡 Tip: If you’re planning to explore beyond Fernie (lakes, lookouts, nearby towns), a rental car keeps your trip flexible — especially if weather changes your plans.

Neighbourhood & Area Clusters: How to Group Your Days

Fernie is small, but thinking in “clusters” helps you plan efficiently and avoid zig-zagging back and forth.

1. Historic Downtown Fernie

What’s here (and nearby):

Fernie Museum and Visitor Information

Heritage walking route & City Hall gardens

Cafés, bakeries, Big Bang Bagels

Independent shops, outdoor gear stores, galleries

Evening hotspots like Nevados (for tapas and tequila)

Best for:Your first half-day in town, bad-weather windows, and low-key exploring days.

2. Highway 3 Corridor: Visitor Centre, Fairy Creek & Maiden Lake

What’s here:

Fernie Visitor Information Centre (trail maps, exhibits, washrooms)

Fairy Creek Falls hike

Maiden Lake & McDougall Wetlands

Access to parts of the Fernie Valley Pathway

Best for:An easy “active” day with kids or a leg-stretch break during a road trip.

3. Mount Fernie Provincial Park & Fernie Alpine Resort

What’s here:

Winter: ski/board terrain with five alpine bowls and deep Powder Highway snow

Summer: alpine hiking, scenic lifts, bike park trails 

Nearby provincial park trails and campgrounds

Best for:Full adventure days that revolve around one big area rather than bouncing all over town.

4. Island Lake Lodge & Upper Valley

What’s here:

Island Lake Lodge (Bear Bistro, lodge dining, spa) 

Island Lake Loop Trail and connecting hikes 

Old-growth forest, scenic drive, and serious photo potential

Best for:Special-occasion days, romantic getaways, or when you want to spoil yourself.

5. East Fernie & Elk River

What’s here:

Fernie Brewing Co.

Access to the Elk River for floats and fishing (with proper licensing and operators) 

Best for:A chill afternoon: hike or float first, brewery second.

Fernie Experiences Comparison Table

ExperienceBest ForTime NeededCost FeelSeasonWhy It’s Worth ItFairy Creek FallsFamilies, casual hikers1.5–2 hrsFreeSpring–Fall; some winter accessAccessible waterfall hike straight from the Visitor Centre with full forest vibes and a rewarding payoff. Island Lake Lodge & Lake LoopCouples, foodies, photographers, hikersHalf-day+SplurgeLate Spring–Fall; winter lodge staysAlpine lodge setting with big views, great food, and easy-to-access trails, all in a more intimate setting than bigger resorts. Fernie Museum + Heritage WalkFirst-timers, history fans2–3 hrsLowYear-roundTurns Fernie into a story you can follow: mining booms, fires, bank failures, and grit. You’ll see the town differently afterwards.Big Bang BagelsEveryone30–45 minsBudget–MidYear-roundLocal breakfast institution and the easiest way to feel like you’ve joined the Fernie morning routine.Maiden LakeFamilies with small kids30–60 minsFreeSpring–FallFlat, stroller-friendly loop with mountain reflections and access to the wider trail network. Fernie Brewing Co.Beer lovers, social groups1–1.5 hrsMidYear-roundExcellent craft beer and a patio that showcases the surrounding peaks. Fernie Alpine Resort (Winter)Skiers & snowboardersFull dayMid–HighWinterDeep snow, big bowls, and a proper Powder Highway ski experience without mega-resort vibes. Fernie Alpine Resort (Summer)Hikers, bikers, familiesHalf-day+Mid–HighSummerLift-accessed alpine scenery and a full-service bike park for all levels.Elk River Raft/FloatAdventurous travellers, familiesHalf-day–Full dayMidLate Spring–SummerSee the Elk Valley from the water with a mix of rapids, scenery, and potential wildlife spots. Downtown Food & Heritage StrollEveryone2–4 hrsFlexibleYear-roundEasy way to combine food, history, and shopping with constant mountain backdrops. 

(All operations, prices, and trail conditions are subject to change)

Fernie Mini-Itineraries

1 Day in Fernie: “Quick Hit” Fernie Travel Guide

Perfect if you’re passing through on a BC or Alberta road trip.

Morning

Arrive in town and grab breakfast or early lunch—Big Bang Bagels if it’s morning, Luchadora if you’re rolling in around midday.

Visit Fernie Museum to get your head around the mining history, the fires, and the Home Bank drama.

Do a short heritage loop via City Hall gardens and a few key buildings on 2nd Avenue.

Afternoon

Drive to the Visitor Information Centre and hike Fairy Creek Falls.

If you have time and energy, add a spin around Maiden Lake on your way back.

Evening

Reward yourself at Fernie Brewing Co. with a Ridgewalk Red or a tasting flight.

Head back to downtown for dinner (taproom, pizza, tapas, or classic pub vibes) and a last stroll under the mountains.

2 Days in Fernie: Food, History & Nature

Day 1 – Downtown & Origins

Breakfast: Big Bang Bagels or a local café.

Late Morning: Fernie Museum (take your time with the exhibits).

Lunch: Luchadora burritos or another downtown option.

Afternoon: Full Heritage Walking Tour loop, including City Hall gardens and some of the side streets.

Evening: Drinks and dinner in downtown—Nevados for tapas or a cozy pub; then wander 2nd Avenue with an ice cream or hot chocolate depending on the season.

Day 2 – Lakes, Waterfalls & Beer

Morning: Head to the Visitor Centre and hike Fairy Creek Falls while temps are cool.

Midday: Picnic or snack stop at Maiden Lake; let the kids play or just soak up the views.

Afternoon: Downtime back at your accommodation (naps, reading, hot tub if you’re lucky).

Late Afternoon: Fernie Brewing Co. for après.

Evening: Easy dinner in town and, if you have energy left, a short walk along the Elk River or back through downtown.

3 Days in Fernie: Fernie Travel Guide “Deep Dive”

Day 1 – Orientation & Downtown Vibes

Arrive, check in, and wander downtown to get your bearings.

Spend a relaxed afternoon at the museum, City Hall gardens, and a partial heritage walk.

Treat yourself to a nice dinner—this is your “we made it to Fernie” night.

Day 2 – Waterfalls, Lakes & Beer

Bagel breakfast at Big Bang Bagels.

Fairy Creek Falls hike from the Visitor Centre.

Maiden Lake loop and possible detour onto the Fernie Valley Pathway if you have time.

Long nap / kids’ playground time / café break.

Fernie Brewing Co. for sunset-ish drinks, followed by dinner downtown.

Day 3 – Big Mountain or Alpine Lodge Day

Pick your flavor:

Option A – Fernie Alpine Resort (Winter or Summer):

Ski/board all day in winter; in summer, ride the lifts for hiking or biking.

Après at the base area, then head “home” for a cozy night.

Option B – Island Lake Lodge (Summer/Shoulder):

Drive up to Island Lake Lodge, have a long lunch at the Bear Bistro, and walk the lakeside loop or a slightly longer hike if you’re up for it.

Leave time to just sit on the dock and stare at the peaks. 

Either way, finish your third night with an easy dinner and that bittersweet feeling of, “We’re definitely coming back.”

A classic downtown Fernie moment, where heritage brick buildings, hanging flower baskets, and slow traffic set the tone for an easygoing mountain town. Big Bang Bagels sits just across the street, making this stretch a natural hub for morning coffee, people-watching, and wandering between shops.

Plan Your Trip to Fernie: Checklist Recap

✅ Choose your season:Deep powder and ski culture in winter; hiking, biking, and lakes in summer; shoulder seasons for fewer people and lower prices. 

✅ Book key pieces in advance:Island Lake Lodge dining and stays, ski lift tickets, bike rentals, rafting trips, and spa appointments. 

✅ Plan days by cluster:Downtown, Highway 3/Visitor Centre + Fairy Creek, Mount Fernie + resort, Island Lake Lodge, and East Fernie/Elk River.

✅ Pack for mountain mood swings:Layers, waterproofs, warm midlayers, and sun protection—even in summer.

✅ Think family logistics:Stroller for downtown and Maiden Lake; hiking backpack or carrier for Fairy Creek Falls and any longer trails.

✅ Check current conditions:Trail reports, avalanche bulletins, river levels, and road conditions—especially for winter driving and higher-elevation routes. 

✅ Respect the wildlife:Carry bear spray where recommended, make noise on forested trails, keep a clean campsite or rental, and give animals plenty of space.

✅ Support local:Choose independent cafés, restaurants, and shops; visit the museum; and consider local guides or lessons.

✅ Leave breathing room:Fernie shines when you have time for an extra coffee, an unplanned walk, or one more slow lap around downtown with the mountains glowing in the background.

If you love smaller, character-filled places with big scenery and even bigger stories, Fernie is one of those towns that quietly burrows its way into your “we need to go back” list. We kicked off our BC road trip here, but honestly? It could easily have been the whole trip. Heck, we're even thinking of moving here someday. How's that for a first impression?

#### Guide To The World Nomad Games in Kyrgyzstan: Sporting Event!
Being nomadic and traveling nearly 365 days of the year is in many ways a dream job for me. However, one thing that I really miss about being back home in Canada is having the opportunity to follow sports throughout the year. When I had the opportunity to attend the World Nomad Games in Kyrgyzstan, the dormant sports junkie inside of me jumped at the opportunity.

Opening Ceremony fireworks to kick of the World Nomad Games in Kyrgyzstan

World Nomad Games in Kyrgyzstan

The World Nomad Games are a sports and cultural event held in Cholpon-Ata, Kyrgyzstan (not Bishkek) and they are an attempt to preserve and promote nomadic culture and traditions throughout Central Asia. This was only the second year the event was held, yet it featured 23 sports and drew athletes from over 40 different countries.

Imagine a festival where ancient traditions, thrilling competitions, and vibrant cultural celebrations come together in a spectacular display. This unique gathering showcases the rich nomadic heritage of Central Asia and beyond, making it an essential experience for anyone visiting the region.

Why Is It a Must-Try Experience?

Cultural Extravaganza: The World Nomad Games offer a deep dive into the diverse cultures of the nomadic peoples. From traditional music and dance to stunning crafts and delicious cuisine, the event is a celebration of nomadic life. It's an immersive cultural experience that provides insights into the customs and traditions that have shaped these communities for centuries.

Exciting Competitions: At the heart of the games are the thrilling competitions that test the skills and endurance of the participants. Events like horseback wrestling, eagle hunting, and Kok-Boru (a rugged team sport involving a goat carcass) are not only exciting to watch but also steeped in historical significance. These contests highlight the physical prowess and spirit of the nomads.

What Makes It So Epic?

Spectacular Setting: The World Nomad Games are set against the stunning backdrop of Kyrgyzstan's mountains and valleys. The natural beauty of the location adds an epic dimension to the event. Imagine watching a fierce game of Kok-Boru with snow-capped peaks in the distance—it's a sight you won't soon forget.

Global Gathering: This event brings together participants and spectators from around the world. It's a global celebration of nomadic cultures, creating a unique atmosphere of camaraderie and cultural exchange. Meeting people from different backgrounds and sharing in this collective experience is truly epic.

What Makes It a Great Experience for Visitors?

Interactive and Engaging: The World Nomad Games are designed to be interactive. Visitors can participate in workshops, try their hand at traditional crafts, and even sample nomadic cuisine. This hands-on approach makes the experience more engaging and memorable. You’re not just a spectator—you’re a participant in the festivities.

Family-Friendly Fun: The games offer activities and entertainment for visitors of all ages. From kid-friendly workshops to mesmerizing performances, there’s something for everyone. It’s a fantastic way to spend time with family while learning about different cultures and traditions.

Rich History and Tradition: Attending the World Nomad Games is like stepping back in time. The event celebrates ancient traditions that have been passed down through generations. Watching these traditions come to life is both educational and inspiring, providing a deeper appreciation for the resilience and creativity of nomadic peoples.

How to Arrange the Experience?

Getting There: Bishkek, the capital of Kyrgyzstan, is well-connected by international flights. Once you arrive, local transportation options like taxis and buses can take you to the event venue. It’s advisable to plan your travel in advance, as the games attract a large number of visitors.

Booking Tickets: Tickets for the World Nomad Games can be purchased online through the official event website or at designated ticket booths in Bishkek. It’s a good idea to buy tickets early to secure your spot, especially for popular events and competitions.

What to Bring: Dress comfortably and be prepared for varying weather conditions. Layered clothing is ideal, as the weather can change quickly. Don’t forget your camera or smartphone to capture the incredible sights and moments. A reusable water bottle and some snacks will keep you refreshed throughout the day.

Tips for Visitors

Explore Beyond the Games: Take time to explore Bishkek and the surrounding areas. The city has much to offer, from vibrant markets to historical landmarks.

Engage with Locals: The local people are incredibly hospitable. Don’t hesitate to strike up a conversation and learn more about their culture and traditions.

Stay Informed: Keep an eye on the event schedule and plan your days to make the most of your visit. There are often multiple events happening simultaneously, so prioritize the ones that interest you the most.

The following post will share some of the highlights of the World Nomad Games through photos and videos.

World Nomad Games Video:

In this video you'll see our experience attending the World Nomad GamesIf you have trouble viewing this video click here:  http://youtu.be/KwDoJVCLm2Y

World Nomad Games: Favorite Sports

As mentioned previously there were 23 different sports at the games. Here is a brief overview of some of my personal favourite sports. Keep in mind none of these sports were familiar to me at all prior to attending the games!

Kok-boru:

This sport was my personal favorite and it was definitely the most popular event at the World Nomad Games. Basically, two teams on horseback play something that sort of resembles polo, except instead of using a ball, they're carrying and tossing a goat carcass with the intention of scoring a goal against their opponent. I was fortunate enough to have the opportunity to get right on the field during the game. I got a little overzealous at one point getting too close to the action and I had to retreat suddenly as horse-mounted players galloped in my direction. My favorite match was between Kyrgyzstan and Kazakhstan with the Krygyz team coming out on top.

Mas-wrestling:

Two wrestlers face each other with the soles of their feet on opposite sides of a wooden board. In their hands they're holding a stick, and it's basically a tug-o-war to either get the stick or pull their opponent over to their side of the board. These typically massive men were physically exhausted by the end of a match even if the game only lasted a few brief seconds.

Salbuurun:

This was my favorite hunting/prey event involving eagles. The competition was to see how fast eagles can fly while chasing after a fox skin over a stretch of 200 meters. It wasn't only the human athletes that impressed me during these games!

Other Sports At The World Nomad Games

The World Nomad Games in Kyrgyzstan celebrate the rich traditions of nomadic cultures through a variety of thrilling and unique sports. Here's a detailed look at the diverse sports featured at this extraordinary event:

Kok-Boru (Buzkashi)

Description: A traditional Central Asian team sport similar to polo but played with a goat carcass instead of a ball.

Objective: Players on horseback try to grab the carcass and score by placing it in the opposing team's goal.

Significance: Demonstrates the strength, agility, and teamwork of nomadic horsemen.

Er Enish (Horseback Wrestling)

Description: A physically demanding sport where two wrestlers try to unseat each other while riding horses.

Objective: The goal is to throw the opponent off their horse.

Significance: Highlights the importance of horsemanship and physical prowess in nomadic cultures.

Kyrgyz Kurosh (Traditional Wrestling)

Description: A form of wrestling unique to Kyrgyzstan, combining elements of judo and freestyle wrestling.

Objective: Competitors aim to throw their opponent to the ground using various holds and techniques.

Significance: Reflects the traditional combat skills of Kyrgyz warriors.

Tyin Emmei (Coin Pickup)

Description: A horseback sport where riders pick up coins from the ground at full gallop.

Objective: Collect as many coins as possible within a set time.

Significance: Demonstrates the precision and agility of horse and rider.

Jereed (Equestrian Javelin Throw)

Description: A traditional Turkish sport involving horseback riders throwing javelins at each other.

Objective: Hit the opposing rider or their horse with the javelin.

Significance: Simulates ancient cavalry battles, showcasing horsemanship and accuracy.

Salburun (Hunting with Birds of Prey)

Description: A hunting tradition using trained eagles and falcons.

Objective: The birds hunt small game like hares and foxes.

Significance: Highlights the symbiotic relationship between nomads and their hunting birds.

Ordo

Description: A strategic game played with sheep knuckle bones.

Objective: Players aim to knock out a central bone using other bones as projectiles.

Significance: Combines skill, strategy, and a deep connection to traditional nomadic life.

Mangala

Description: An ancient board game similar to mancala, involving the strategic movement of stones.

Objective: Capture more stones than the opponent.

Significance: Reflects the intellectual and strategic aspects of nomadic culture.

Toguz Korgool

Description: A traditional nomadic board game akin to mancala, popular in Central Asia.

Objective: Capture the most "korgools" (game pieces) through strategic play.

Significance: Encourages strategic thinking and planning.

Archery

Description: Traditional archery using bows and arrows.

Objective: Hit targets at various distances.

Significance: Demonstrates ancient hunting and combat skills.

Traditional Horse Racing

Description: Various forms of horse racing, including long-distance and endurance races.

Objective: Be the first to cross the finish line or complete the course.

Significance: Celebrates the endurance and speed of the horses and their riders.

Alaman Baige (Long-Distance Horse Race)

Description: A grueling long-distance race over challenging terrain.

Objective: Test the stamina and endurance of both horse and rider.

Significance: Reflects the nomadic lifestyle’s reliance on horses for long journeys.

Cirit

Description: A traditional equestrian team sport from Turkey, similar to jousting.

Objective: Riders throw javelins at opponents while galloping.

Significance: Simulates ancient battle tactics and horsemanship.

At Chabysh (Endurance Horse Racing)

Description: An endurance race over a set distance, testing the stamina of both horse and rider.

Objective: Finish the race in the shortest time possible.

Significance: Demonstrates the bond and endurance between nomads and their horses.

Mas-Wrestling

Description: A test of strength where two competitors try to pull a stick out of each other’s hands.

Objective: Wrest the stick away from the opponent.

Significance: Highlights physical strength and determination.

Here is a complete list of the sports from the World Nomad Games.

#### How To Create A Successful Travel Blog In Your First Year Of Blogging
When I first started my travel blog just over a year ago I knew that it was going to be successful.  It had to be. Failure was never an option.

A lot of people start travel blogging wondering 'how' they will be able to compete with some of the other top travel blogs who are already established and have been plying their craft for years.  I've heard some say it's nearly impossible to break into a field that is already saturated.  Why even bother when the odds are stacked against you?

In a word - passion.  Passion to travel.  Passion to share stories.   Passion to take photos.  Passion to create travel videos.  Passion to give advice that is going to help others.  Ultimately, passion is the determining factor of whether or not you are going to be successful with your travel blog.  The more 'unrealistic' you are with your dreams, goals and imagination, the more likely it is that you are going to achieve 'incredible' things.

How to create a successful travel blog the first year of blogging

How To Create A Successful Travel Blog

Nomadic Samuel travel blogging on top of Machu Picchu, Peru in a joking manner

Passion is going to ignite a level of confidence in yourself.  With a high degree of confidence and certainty you'll be catapulted to take massive action towards achieving your goals.  With massive action you'll start to see results that will help confirm your belief that what you're doing is worthwhile.  With impressive results you'll grow even more passionate about your projects.  It's the feedback loop of success.  This isn't limited to just travel blogging -  it's really the determining factor in just about any field.

The good news is that hard work, determination and consistent effort is going to help you achieve your blogging goals.  The bad news is that hard work alone isn't going to cut it.  It's about working 'smart' and realizing that what it takes to make a successful travel blog is more than just creating posts on your own site and leaving things up to chance.  There are a number of phases a travel blog must endure before it is considered mature or successful:

Phase 1 (Building The Snowball)

Every travel blog - even the top travel sites today - started out from scratch.  My travel blog was once bare bones and so was yours.  All of us have pressed 'publish' for the first time wondering who on earth -other than friends and family - is actually going to read this post?  Phase 1 is the most clumsy phase but it is also the most crucial.  Any travel blog that I've noticed achieve success, in a short period of time, absolutely crushes it during this phase.

This is the phase where you need to eat, sleep & breathe your site day in and day out.  Without a herculean effort it becomes a daunting task for your travel blog to receive any sort of traction.  In order for a snowball to accumulate mass and eventually propel itself down the hill, it first requires a considerable effort.  The following is a list of things that I feel are essential for a site to reach its full potential in phase 1:

1) Consistent Content

You're going to be wanting to churn out content on your own site as consistently as possible.  Posting sporadically or whenever 'inspiration' comes just isn't going to cut it.  Imagine a serious athlete training for an event.  Do they take days/weeks off when they 'don't' feel like' training?  Nope.  If you want your site to do well creating a consistent posting schedule is a key component.

But it doesn't have to be a struggle. By leveraging content tools like a summarizer, a content calendar, or AI design, you can elevate your content creation process. For example, using an AI design tool can generate creative social media posts, automate design processes, and enhance the creativity and impact of your articles. Don't be afraid of the latest technology - embrace it. By harnessing its potential, you can streamline your writing workflow, and in turn, that will contribute significantly to the overall success of your site.

2) Rocking Social Media

In the beginning stages 'Google' is not your best friend.  They tend to favour the kid who has been around the block a few times.  Sites that have mature domains, loads of content and a strong link profile get all of the love from the search engines;  however, social media is a way you can light a fuse under your site and watch it blow up quickly.  Rocking platforms such as facebook, stumble upon, twitter and pinterest are going to help drive traffic to your site.  Once again, this is something that cannot be done sporadically.  Consider social media the travel blogging equivalent of brushing your teeth.  I doubt you'd go a day without brushing your teeth and I wouldn't suggest letting a day pass without engaging in social media in some capacity.

3) Getting Your Name Out There

You're a complete nobody when you first start out.  It's great having 'Mom follow along' but in order to create a successful travel blog you need a solid readership.  In the initial stages, one of the easiest ways to attract this for your site is to become a fully immersed in the travel blogging community.  Commenting, tweeting, stumbling and promoting the work of others is the name of the game.  It's all about being a 'team player' and hoping that others eventually reciprocate.  The travel blogging community is for the most part full of incredible people willing to help one another out.  Although there has been a lot of posts and chatter lately about things being somewhat toxic, it's really only a few that are actively seeking to spoil the party for others.  Anyhow, you want to be a bit like the Tasmanian Devil cartoon character, propelling yourself in a kamikaze like fashion in as many places as you possibly can to get your name out there.

4) Building Links

Building links is the 'travel blogging' equivalent of training for an event.  One doesn't notice the gruelling hours spent in the gym, track or field, but this is where the elite competitors separate themselves from the pack.  It's not enough to have a nice blog design, write compelling prose, tantalize with stunning photography or set the world on fire with cleverly composed travel videos.  Without a strong link profile your ship (travel blog) is left out at sea.

The truth of the matter is that links are still (and even in the future when social signals play a more significant role) the currency of exchange when it comes to how well your site is going to do in the search engines.  Without new eyeballs on your site each and every day, growing your blog readership and fan-base is like trying to swim laps in quicksand.

There are a number of ways to build links.  Doing link exchanges, guest posting & commenting on other blogs & forums are all part of the equation.  One of the easiest ways to check the progress of your site's link profile is to track its domain authority (which is updated roughly once a month) by installing the SEOmoz toolbar.

ETA:  This stage is the make or break period for successful travel blogs.  A lot of travel bloggers burn out in this phase and give up inches before they've crossed the finish line.  The truth is that this phase can last a while or it can be over within a few months.  Whether one is the tortoise or the hare, has a lot to do with the passion, effort, commitment and skill-level one has during this phase.  Many bloggers mention the first 6 months as the time period before things really start to take-off.  I've seen sites get beyond this stage in less time than that.  On the other hand, I've seen sites that have required a lot more time than this.  The main thing is to NOT GIVE UP during this phase.

Phase 2 (Gaining Traction with the Snowball)

In phase 2 things start getting a little easier.  If phase one is the gang initiation period, phase 2 is where you've earned your stripes.  At this point, the efforts you've made to create consistent content, rock social media, get your name out there and build links have paid off in spades.  At this point your site has achieved a solid readership base and is well known within the travel blogging community.  It also has a strong social media footprint and receives solid traffic from Google and other search engines.

The good news is that you can let the pedal off of the gas a bit from time to time at this stage.  Some signs that you've reached this stage include traffic not dropping off significantly when/if you haven't posted in a while and other sites linking to you on a consistent basis.

This is the phase when you can start thinking beyond the blog.  This is a great time to start other projects (other sites, ebooks, youtube videos, freelancing, etc) because the effort needed to grow your site in phase 1 is no longer necessary in stage 2.  You will, of course, still need to post consistently, utilize social media, get your name out there and build links; however, the main difference is that you can do it more moderately at this stage.

This is an exciting stage for your blog because at this point you're no longer the rookie and your efforts don't fall upon deaf ears.

ETA:  It could take months or years to reach this stage.  The majority of travel blogs (even some of the most successful ones) will likely plateau in this area for a considerable period of time or never reach the next level.  In order to reach the final stage it takes a lot of effort and dedication and likely years of hard work and expertise to finally arrive at that level.

Phase 3 (No Longer a Snowball - You're an Avalanche)

Yes.  At this point you're truly crushing it.  This is when you've made it.  Your site receives enormous traffic, has a huge following and is a respected authority within your field.  Companies are lining up to work with you and industry professionals are requesting you to speak at conferences.  This is the level I aspire to be at in some given point in time.

When you've reached this level you'll be ranked near or at the top of every top travel blogging list.  No matter what metric is being measured, your site at this given point in time will be elite in all areas.  Some sites that have achieved this level of success and respect are The Planet D and Stuck in Customs.  Aside from working hard on all of their sites and having a refined skill-set they have another important thing in common:  they've been doing this consistently for years.

The key formula to reaching this level is to pass through phases one and two and stick with your site with the same level of commitment over a significant period of time.  When defining the career of any successful writer, athlete or politician, it's not done over a period of weeks or months, but instead it takes years - or possibly even decades - for the final chapters to be written.

Designing Your First-Year Game Plan

So you’ve got the passion, you understand the phases, and you’re ready to roll up your sleeves.

Now comes the unsexy part that actually moves the needle: turning that passion into a clear, simple plan for your first year.

You don’t need a 47-page strategy document. You need:

A direction (what kind of travel blog you’re building)

A rhythm (how often you’ll publish and promote)

A simple system (how you’ll grow, connect, and eventually earn)

Get those three aligned, and suddenly the snowball you’re pushing uphill doesn’t feel quite as heavy.

Decide What Kind of Travel Blog You’re Actually Building

“Travel blog” is vague. The clearer you are about what you’re doing, the easier everything else becomes: titles, topics, partnerships, even what you say in your bio.

You don’t have to marry a niche for life, but you do want a strong angle for year one.

Pick a Core Angle You Can Show Up For

Ask yourself:

What kind of trips do you actually take?

What do friends already ask you about?

What could you talk about for hours without getting bored?

Then use that to shape your angle.

#### Karakol Travel Guide: Top 15 Things to Do in Karakol, Kyrgyzstan
Are you ready to uncover one of the hidden gems of Central Asia? Karakol is a city that might not be on every traveler’s radar. But it should be. Karakol offers a unique adventure for those willing to venture off the beaten path. Come check out our Karakol travel guide for some unique things to do in the city!

Last year I had the privilege of visiting Kyrgyzstan for the first time. I attended the World Nomad Games, got a taste of adventure travel around Song Kol and briefly visited Karakol. We then lingered for while in the capital city of Bishkek. In many ways, it was the perfect introduction to the country. However, I left wanting more.

 Source: From Our Travel Channel Samuel and Audrey covering things to do in Karakol

Having the chance to revisit Kyrgyzstan and come back to Karakol for a few days (I had previously just done a day trip). This allowed me to experience this part of the country more in depth. I got to really appreciate all it has to offer.

Sitting on the eastern shores of Issyk Kul, Karakol is considered the adventure capital of Kyrgyzstan.

Travellers come here to arrange hikes, horse treks and camping adventures. However, the town also warrants considerable exploration. Especially, when it comes to culture and local cuisine.

Yuriy Gagarin statue in Barksoon, Kyrgyzstan

Why Visit Karakol?

Visiting Karakol is similar to visiting Bishkek. It rewards those who linger.

You can enjoy the laidback pace of life, discover its unusual attractions, do a bit of cafe hopping, and come to appreciate its many quirky charms.

Karakol is merely a stone’s throw away from some of the most dramatic landscapes in Central Asia. Whether it's hiking through the rugged Tien Shan mountains or relaxing by the vast Lake Issyk-Kul, you've got options galore.

Are you a culture vulture? With its eclectic mix of Russian, Kyrgyz, Dungan, and Uighur influences, you'll have opportunities to visit attractions such as a Dungan mosque and Russian Orthodox Cathedral.

Moreover, Karakol's food scene is as diverse as its people. You can easily indulge in authentic Kyrgyz dishes. Enrich your tastebuds by sampling Dungan delicacies, or treat yourself to Uighur cuisine. Local markets brim with fresh produce and vibrant spices. Make your own Silk Road dreams become reality.

So, welcome to our Karakol travel guide—the base camp for your next big adventure!

With this in mind, let's discover 15 things you can do while visiting Karakol.

source: Our YouTube travel channel Samuel and Audrey visiting Karakol

15 Things to Do in Karakol Travel Guide

Distinct wooden door in Karakol, Kyrgzstan

1) Karakol Walking Tour

Looking for an authentic way to explore Karakol? Jump on a free walking tour! It’s a casual yet informative experience.

As a first-time visitor, one of the best ways to get acquainted with Karakol, is to take one of the free walking tours. These tip-based tours are put on by the tourist office and run three times a week.

Free walking tours are led by guides who actually live in Karakol. They know these streets like the back of their hands. And can tell you not just the history, but also the stories behind the places you visit.

It's a great way to get a feel for the town while checking out some of the major landmarks. You'll discover quirky attractions you wouldn't have found on your own.

Plus you have a local guide who can answer any questions you may have about the place. They'll offer suggestions on other things to do. More information here: https://destinationkarakol.com/tours/karakol-walking-tour

Dungan Mosque in Karakol, Kyrgyzstan

2) Dungan Mosque

Our first stop of the walking tour was the Dungan Mosque. This architecturally-unique mosque looks a lot like a Buddhist temple. This is because it was built by the Dungan community, an ethnically Chinese people group who follow Islam. But they incorporated architectural elements from their own culture.

Hence, this vibrant building bursts with color and intricate design. A reflection of a fascinating blend of Chinese and Islamic architectural styles.

Built in 1910 by Dungan (Chinese Muslim) immigrants, its colorful timber features and pagoda-style roof make it a must visit attraction for photographers. It's a harmonious blend of Islamic practices with Chinese aesthetics.

The mosque’s history is as compelling as its architecture. The Dungan people fled China in the late 19th century to escape persecution. Thus, the mosque is not just a place of worship, but a symbol of resilience and cultural fusion. It represents the Dungan community's successful integration into Karakol society while preserving their unique identity.

As a fun fact: apparently this mosque was built without the use of nails (though some nails have been spotted from modern-day repairs). Further information: https://destinationkarakol.com/what-to-do/attractions-museums/

Holy Trinity Russian Orthodox Church wooden cathedral in Karakol, Kyrgyzstan

3) Holy Trinity Russian Orthodox Church

Another iconic place of worship in Karakol (Каракол) is the Holy Trinity Russian Orthodox Church. This is a traditional Russian wooden cathedral complete with onion domes.

Built in 1895, the Holy Trinity Church is a prime example of traditional Russian Orthodox architecture. It was constructed from wood; yet it stands firm over a century later. Its iconic blue dome, topped with a golden cross offers a picturesque view against the mountainous backdrop.

The church's history is nothing short of fascinating. Over the years, ( especially during Soviet times, when many religious buildings were repurposed or destroyed) it has been used as a sports hall, school, theatre, coal shop and dance hall, just to name a few!

The church's interior is adorned with religious icons and murals. Here, you can feel a palpable sense of history.

As a pro tip, if you're wearing a hat be sure to take it off! I made that mistake myself.

Antique Shop Aleksandr Korablev for Soviet era souvenirs in Karakol, Kyrgyzstan

4) Antique Shop of Aleksandr Korablev

If you’re an avid souvenir collector then you’ll want to peruse Aleksandr Korablev's Antique Shop. This little one-room shop is overflowing with treasures from the Soviet era. They have things like old cameras, porcelain sculptures, and even busts of Lenin.

It's like a portal into the past. The collection is as eclectic as it is eccentric. Believe me when I say this isn't just any old antique shop. It's a treasure trove of history, stories, and curiosities. It'll captivate anyone who steps through its door.

Opening its doors in the early 1990s, shortly after Kyrgyzstan gained independence, Korablev's collection has grown from a modest hobbyist's corner to a cultural landmark. This shop isn’t just about buying antiques. It’s about preserving a piece of history that might otherwise be forgotten.

I wanted to purchase many items but due to the lack of space in my suitcase. I only ended up buying a Soviet-Era border guard hat to add to my ever growing collection of hats from around the world. They had quite a few hats to choose from, and we learned that the color of each hat denotes whether it was an official cap for the army, navy, police or border control.

This quirky spot is a must-visit for both serious collectors and curious travelers alike.

Monument busts at Victory Park and World War II Memorial in Karakol, Kyrgyzstan

5) Karakol's History Museum

Are you a history buff? If so, be sure to add Karakol's History Museum to your itinerary. Located in a beautifully preserved old Russian building, this museum offers a journey through time via its collection of artifacts.

So, what makes the museum a top thing to do in Karakol? .

The small museum is home to an impressive taxidermy collection. Its eclectic collection that narrates the town’s history from its early days as a Russian garrison outpost to its current status as a cultural melting pot. You'll find traditional Kyrgyz clothing, Russian Orthodox religious relics, and artifacts from the Dungan people.

Plus when we visited there was an exhibition of photos by Ella Maillart, a swiss traveler who photographed her travels through Central Asia in the 1930s.

The Karakol History Museum is an essential stop for anyone wanting to fully understand the fabric of this region.

Victory Park and World War II Memorial in Karakol, Kyrgyzstan

6) Victory Park and World War II Memorial

For a green escape, we also visited Victory Park and World War II Memorial located in the Przhevalsk District. Located amidst towering pine trees, the park offers a quiet retreat from the bustling city life. It’s a place where history and tranquility intersect.

Victory Park, coupled with its World War II Memorial, stands as a testament to the bravery and sacrifices of the soldiers from the Karakol area who fought in the war. The memorial is prominently featured within the park. Marked by a solemn statue in memory of the fallen.

However, the memorial isn’t just a relic. It's an active part of the community's cultural and civic activities. Commemorations and veteran gatherings are held throughout the year.

Everything here, from the many busts to imposing monuments, is done on a grand scale. And if you look closely enough you'll see how tiny I am on the left of the above picture snapped by Audrey.

Nomadic Samuel enjoying delicious food in Kyrgyzstan

7) Fat Cat Karakol for food and drinks

Looking for a cozy spot to eat and drink in Karakol? Our favorite place to spend a lazy afternoon in the city was hands down the Fat Cat Karakol located on the corner of Gagarin and Alybakova. First recommended to us by two Dutch travellers we met at Bel Tam Yurt Camp.

This chill cafe served up some amazing cakes, as well as pizzas and grilled cheese sandwiches paired with craft beers.

Nomadic Samuel drinking beer in Karakol, Kyrgyzstan

What makes this place even more special is that the owner, Zhamila, has used her business to do a lot of good in the community, including organizing projects to raise funds for school supplies and empower women to start their own businesses. This fact alone made including Fat Cat to our Karakol travel guide a must.

Whether you're starting your morning with a cup of their renowned coffee, stopping by for a leisurely lunch, or ending the day with a cheeky pint, Fat Cat's welcoming atmosphere makes it the perfect any-time-of-day spot. You can make new friends or simply chillax by watching the world go by.

Ashlyanfu (Ашлян-фу) for dinner as part of an 8 course meal in Karakol, Kyrgyzstan

8) Visiting local markets

Meandering through the local markets was another one of our favorite things to do in Karakol. It's a slice of the town's culture and daily life.

It’s a place where vibrant colors, enticing smells, and the buzz of daily commotion blend into an unforgettable sensory experience.

Karakol’s markets are treasure troves of local produce, handicrafts, and culinary delights. You'll find just about everything here ranging from fresh produce to boxing gloves.

And in the food department, you can't go wrong with a bowl of Ashlyan-fu (or three), but more on that local dish later. Furthermore, don’t miss the chance to try some local specialties like kurut (dried yogurt balls) and beshbarmak (a traditional noodle and meat dish), which are staples.

What makes shopping here unique? It’s the authentic interaction with the locals. This direct trade supports local families and the community. A win-win for everyone.

Moreover, each visit to the market can be a different adventure. You might find yourself sipping on locally brewed kymyz (fermented mare's milk) one day, and picking out the perfect handmade woolen hat the next.

Out of of all the things to do in Karakol this may be my personal favourite.

Incredible group meal together in Kyrgyzstan with a host family

9) Dungan 8-course meal

For the culture vulture and foodie interested in Kyrgyz cuisine, arranging an eight course meal with a Dungan family is another must.

What's on the menu? Dungan cuisine is a delectable fusion of Chinese techniques with Central Asian ingredients. At a typical 8-course meal, you'll start with laghman (hand-pulled noodles) and progress through dishes like manta (steamed dumplings), shorpo (mutton soup), and various stir-fried vegetables seasoned with local herbs and spices.

So, what makes Dungan food unique? It’s the meticulous preparation and the artful combination of flavors. Cooking methods often involve braising, steaming, and quick-frying—techniques that highlight the freshness of the ingredients.

Dungan cooks use a palette of seasonings. These might be familiar to fans of Chinese food but mixed in ways that surprise and delight.

Spiral shaped lagman noodles at a Uyghur Cooking Class in Karakol, Kyrgyzstan

Before the food was served, we had the opportunity to help prepare Ashlyanfu (Ашлян-фу) - a cold soup featuring different kinds of noodles. Additionally, a vinegar based broth and a combination of bell peppers, garlic, cilantro and tomatoes thrown in for good measure.

The dinner itself was a feast of feasts. According to Dungan tradition no less than 8 different dishes appear at the table. We came with our best intentions to finish everything served.

But we didn't even come close to accomplishing that.

A meal with a Dungan family in Karakol is more than just a dinner. It’s an immersive cultural experience. It offers deep insight into a unique culinary tradition.

You can book this experience through Destination Karakol: https://destinationkarakol.com/tours/dungan-village-family-dinner/

Our cooking host showing us how to stretch lagman noodles at a Uyghur Cooking Class in Karakol, Kyrgyzstan

10) Uyghur Cooking Class

With our love of indulging in local cuisine, another experience we really enjoyed was a cooking class where we learned to make a traditional Uyghur dish: laghman (Лагман). We had Gulya as our guide in the kitchen.

She taught us how to stretch the noodles. Let's just say I was all thumbs in the kitchen.

The magic of this class? You’ll learn from a Uyghur chef who will teach you the authentic way to pull noodles. Along with balancing the unique spices that give this dish its signature flavor.

But Laghman is more than just noodles. It's a staple of Uyghur cuisine that has spread across Central Asia. This dish typically features hand-pulled noodles, hearty vegetables, and meat, all simmered in a rich and spicy broth.

After a fun demonstration, we left it to the experts to continue with the recipe. We just watched as they fried the ingredients and worked on the broth.

This cooking class offers an opportunity connect with Karakol's vibrant Uyghur community. The best part? You get to eat what you make. There’s nothing quite like tasting Laghman that you’ve made with your own hands.

Once again, you can arrange this cooking class through Destination Karakol: https://destinationkarakol.com/food-drink/kyrgyz-food/#karakoldishes



11) Eat a bowl of lagman

Speaking of the dish I just mentioned, lagman (Лагман) is a popular Uyghur dish. A true staple of Kyrgyz cuisine. The hand-pulled noodles can be served either soupy or fried. Coming with plenty of meat and vegetables. It's another dish that you'll want to sample in the local restaurants or markets.

What's in a bowl? Laghman is more than the sum of its parts. But those parts are pretty darn spectacular. Thick, hand-pulled noodles are the star of the dish. They swim in a savory broth alongside chunks of meat (usually beef or lamb) and a medley of vegetables such as bell peppers, radishes, onions and carrots. All of that is topped with fresh herbs. It's such a unique combination of textures and flavors. Hearty noodles, succulent meat, and crisp vegetables makes each spoonful a delight.

If you're in Karakol, indulging in a bowl of Laghman is a must. This hearty noodle dish isn't just food; it's a dive into the rich tapestry of Central Asian culinary traditions. Packed with flavors and history, here's why enjoying a bowl of Laghman in Karakol is an unforgettable experience for any visitor.

So, when in Karakol, don’t miss the chance to wrap your fork around the steaming strands of this beloved noodle dish. Sit down, tuck in, and let the rich flavors transport you through the history and culture of this fascinating region.

Writing this Karakol travel guide has made me awfully hungry!

Views of a rowboat during our sunset cruise on Lake Issyk-Kul Ысык Көл Иссык Куль Przhevalsky Bay in Karakol, Kyrgyzstan

Sunset views during cruise on Lake Issyk-Kul Przhevalsky Bay in Karakol, Kyrgyzstan

12) Sunset Cruise on Lake Issyk-Kul

Picture this! Imagine gliding across the second largest alpine lake in the world as the sun dips below the mountains, painting the sky in hues of orange, pink, and purple.

Hence, one of our last activities in Karakol was a sunset cruise on Przhevalsky Bay located on the eastern shores of Lake Issyk Kul (Ысык-Көл).

Surrounded by friends, we enjoyed a spectacular sunset with drinks in hand. With calm waters we marveled at mountains off in the distance.

Lake Issyk-Kul, known as the "Pearl of Kyrgyzstan," is surrounded by the snow-capped peaks of the Tian Shan mountains. The lake itself never freezes, thanks to its slight salinity and geothermal activity. Thus, it providing a year-round haven for visitors.

Here you'll create postcard-worthy images that you’ll want to share with everyone back home. Moreover, it's the perfect way to unwind after a day of hiking or sightseeing.

Further information about the cruise: https://destinationkarakol.com/tours/karakol-sunset-cruise/

Views of Jeti Oguz Jeti-Ögüz in Kyrgyzstan

Stunning scenery of yurts with mountain backdrop in Kyrgyzstan

13) Jeti Oguz Valley for hiking

Our favorite day trip from Karakol was a short 30-minute drive to Jeti-Ögüz.

Translated, it means 'seven bulls.' It was named so for the seven plus hills (vibrant red sandstone cliffs) that make up the formation. These iconic formations are a stunning backdrop to a network of trails that wind through lush meadows and pine forests.

The best part? Panoramic views of the snow-capped Terskey Alatau mountains in the distance.

This is hiking and horse-trekking paradise.

Trails range from short loops that offer easy walks to longer, more demanding routes that lead up to higher elevations like the stunning Eagle's Nest viewpoint.

However, Jeti Oguz isn't just famous for its natural beauty. It’s steeped in local folklore. The most famous being the tale of the "Broken Heart," a rock that is said to represent the heart of a beautiful woman torn between two suitors.

Pack a picnic lunch like a Kyrgyz visitor. Or stay longer in one of the yurt camps.

What to bring? Make sure to pack plenty of water, some snacks, and suitable clothing for variable weather. Don’t forget your camera. A pair of binoculars for bird watching and wildlife spotting is ace.

Hiking information: https://destinationkarakol.com/what-to-do/trekking/

Barskoon Waterfalls in Kyrgyzstan

14) Barskoon Gorge

To extend the day trip a little longer, we continued on to the nearby Barskoon Gorge.

You'll find numerous waterfalls here along with some great hiking trails. Known locally by names such as "Tears of the Snow Leopard", these cascading waters are accessible via well-marked trails.

You can reach some of the smaller waterfalls within 15 minutes of hiking. But the main one is 1.5 to 2 hours away on foot.

You'll also discover a bust of Yuri Gagarin! his is a nod to space exploration. Yuri was the first cosmonaut who apparently had a particular fondness for this area.

It's a popular spot for photos. And a moment of reflection on the feats of exploration - both terrestrial and celestial.

Preparation is key for this day trip. Pack suitable hiking gear, plenty of water, snacks, and don't forget your camera. Dress in layers, as the weather can change quickly in the mountains.

Views of Karakol, Kyrgyzstan during our day hiking trip

Scenic forest walk during our day hike in Karakol, Kyrgyzstan

15) Karakol Day Hike

Lastly, we couldn't visit the adventure capital of Kyrgyzstan without doing at least one hike! So, lace up your hiking boots and hit the trails! Karakol is renowned for its spectacular natural surroundings. And a day hike here offers not just exercise but an immersive nature experience. You'll be treated to breathtaking views of the town from above and the serene beauty of alpine landscapes.

How did we do it? With a local guide from Eco-Trek and a dog friend in tow, we set off on a scenic journey starting from the village of Jorgolot. With highlights including panoramic views of Karakol. We also enjoyed a great picnic in the valley. And a walk through the forest trails to finish off.

Of course, far more ambitious hikes, horse-treks and yurt stays are best arranged from Karakol. However, a day hike is a good option.

You've got options galore. Whether you're short on time or need a little help deciding whether you want to commit to something more challenging or not. Trust me. It's worth it.

How to Arrange Your Hike

Planning your day hike in Karakol is easy. You can book a guided tour through a local travel agency or organize a self-guided walk. Here’s how you can arrange it:

Guided Tours: Local tour operators offer a variety of guided hikes that include transport, a knowledgeable guide, and sometimes even meals. This is a great option if you're unfamiliar with the area or prefer a more structured experience.

Self-Guided Adventures: For those who prefer to explore on their own, Karakol’s trails are well-marked. Grab a map from the local tourist office or download one from a reliable outdoor app, and you’re good to go.

Preparation Tips:

Wear appropriate footwear and clothing for mountain weather, which can change rapidly.

Pack essentials like water, snacks, sunscreen, and a basic first aid kit.

Start early to maximize daylight and enjoy the tranquility of morning trails.