SEA006Factor HubSeasonality FactorsMedium

Policy Window Effect Factor

Policy expectations around major meetings lift the favored sectors.

Formula

NPC = PolicyExpectation * HistReturn(两会期间)

Annualized return

9.26%

Sharpe ratio

0.52

Max drawdown

-39.92%

Total return

142.35%

Cumulative performance（2016-09 … 2026-08）

2016 -11.9%2017 -12.6%2018 -4.1%2019 +29.3%2020 +48.8%2021 +1.5%2022 +37.5%2023 -0.6%2024 +7.6%2025 +1.7%2026 +12.5%

#	Ticker	Company	Score
1	TER	Teradyne	14.036
2	MRVL	Marvell Technology	6.021
3	MCHP	Microchip Technology	5.654
4	SOFI	SoFi Technologies	5.136
5	PEG	Public Service Enterprise	3.836
6	MOS	Mosaic	3.784
7	PLTR	Palantir	3.757
8	MPC	Marathon Petroleum	3.642
9	WFC	Wells Fargo	3.516
10	KVUE	Kenvue	3.510
11	MDB	MongoDB	3.451
12	SMCI	Super Micro Computer	3.441
13	TSLA	Tesla	3.398
14	DVN	Devon Energy	3.244
15	AVGO	Broadcom	3.137
16	LOW	Lowe's	2.965
17	LLY	Eli Lilly	2.951
18	TFC	Truist Financial	2.931
19	ZTS	Zoetis	2.913
20	DUK	Duke Energy	2.761
21	CARR	Carrier Global	2.721
22	SRE	Sempra	2.662
23	ADBE	Adobe	2.613
24	INTU	Intuit	2.540
25	CF	CF Industries	2.465
26	CRWD	CrowdStrike	2.460
27	CRM	Salesforce	2.387
28	NVDA	NVIDIA	2.256
29	F	Ford Motor	2.226
30	RCL	Royal Caribbean	2.044

Holdings computed by the exact formula above at the latest month-end observation on the deterministic research panel (2026-08).

Exports include formulas, performance statistics, the 120-month series and current holdings — everything needed to replicate results locally.