February 2026 delivered another strong month for trend followers, with all seven indexes posting gains for the second consecutive month. Classic Trend led at +5.3%, followed by TTU at +4.6%, IASG at +4.0%, and SG Trend at +3.9%. Systematic Momentum (+3.6%), BTOP50 (+3.5%), and SG CTA (+3.4%) also advanced solidly. Monthly dispersion was 1.9 percentage points, still well below historical averages and reflecting broad-based trending conditions across asset classes.
The month unfolded in three phases. An early energy reversal weighed on returns in the first week, with the TTU Barometer retreating from 68% to 43% by mid-month. The recovery was decisive. Metals exploded in the final week, with silver surging 12.4%, platinum gaining 9.1%, and gold extending to fresh all-time highs above $5,296. The barometer recovered to 61% and fund performance accelerated sharply into month-end.
Trailing quarterly performance remained strong across the board, with Classic Trend leading at +14.6% and TTU close behind at +12.6%. IASG (+11.5%), SG Trend (+10.9%), and SG CTA (+9.6%) also posted impressive rolling three-month returns, with BTOP50 and Systematic Momentum each delivering above 8.0%.
Over the long run, the structure continues to extend. Classic Trend now stands at +152.6% since 2020 and continues to lead every major risk-adjusted measure (MAR 1.03, Sharpe 0.98). BTOP50 retains its role as the stability anchor, with the lowest drawdown and highest winning month ratio, while again demonstrating that defensive positioning need not sacrifice upside participation. February reinforced the same message as January: Classic Trend provides the compounding engine. BTOP50 provides the stabilising core.
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