QTES News

QTES Performance Update: +23.6% in Q3 2026

QTES returned +3.0% in September, completing three consecutive positive months and bringing its third-quarter return to +23.6%. Year-to-date performance reached +9.1%, while cumulative returns since live trading began in July 2023 stood at +154%, net of fees.

  • +3.0% September 2026 return, net of fees. Bitcoin: +6.4%
  • +23.6% Third-quarter 2026 return
  • +9.1% 2026 year to date. Bitcoin: −4.6%
  • +154% Live return since July 2023, net of fees
  • 2.54x Value of 1 unit since live trading inception
  • +7,543% Cumulative return since January 2019

September and Year-to-Date Performance

September extended QTES’s recovery following a period of capital protection during the market decline. Bitcoin gained +6.4% during the month, compared with QTES’s +3.0%. For the year to September, however, QTES remained ahead: +9.1% versus Bitcoin’s −4.6%, a difference of 13.7 percentage points.

The third quarter illustrates the importance of preserving capital through difficult markets. Having entered the recovery with more capital intact, QTES recorded positive returns in July, August and September, compounding the capital preserved during the decline.

+154% Since Live Trading Began

Between July 2023 and September 2026, QTES generated a cumulative live return of +154%, net of fees, equivalent to growing each unit of starting capital to 2.54 times its original value.

The longer historical series, beginning in January 2019, combines simulated and live results. Across that period, QTES recorded a cumulative return of +7,543%, with an annualized return of 75.0%. These figures are distinct from the live trading record.

Cumulative performance, January 2019 to September 2026: QTES +7,543%, Bitcoin +2,102%, S&P 500 +205%

Historical cumulative performance. The QTES series combines simulated results before July 2023 with live trading results thereafter; QTES returns are reported net of fees.

Performance Comparison

  • September 2026. QTES +3.0%, S&P 500 −0.6%, Bitcoin +6.4%.
  • 2026 year to date. QTES +9.1%, S&P 500 +11.8%, Bitcoin −4.6%.
  • Cumulative return since January 2019. QTES +7,543%, S&P 500 +205%, Bitcoin +2,102%.
  • Annualized return. QTES 75.0%, S&P 500 15.5%, Bitcoin 49.1%.
  • Maximum drawdown. QTES 21.6%, S&P 500 24.8%, Bitcoin 73.1%.
  • Sharpe ratio. QTES 1.48, S&P 500 0.96, Bitcoin 0.92.
  • Sortino ratio. QTES 5.95, S&P 500 1.75, Bitcoin 2.21.
  • Calmar ratio. QTES 3.47, S&P 500 0.62, Bitcoin 0.67.

Data through September 2026. Longer-term returns and risk metrics cover the historical period beginning in January 2019; QTES figures include simulated and live performance.

Returns Relative to Risk

Across the historical series, QTES’s maximum drawdown was 21.6%, compared with 73.1% for Bitcoin and 24.8% for the S&P 500. Its Sharpe ratio of 1.48 and Sortino ratio of 5.95 also exceeded both benchmarks over that period.

September added another positive month to the live record. Combined with the +23.6% third-quarter return, it demonstrates QTES’s ability to participate in a recovery after protecting capital during the preceding decline.

Past performance, including simulated results, is not a reliable indicator of future returns.