We swapped out VARBX for SRDAX In ISQ3 and for Stratavest’s Traded Hedges, we swapped out FSMSX for SRDAX. We like Stone Ridge’s story here as a diversified alternative to the equity market. Low beta, and a near zero correlation to the S&P and Barclays Agg Index are just a few reasons for this. In an environment with interest rate and geopolitical risks, this can help diversify a portfolio with equity and fixed income exposure. Components include Reinsurance, Private Lending, and managed futures.