Redwire

🔹 Strongest regime performance – Liquidity-driven rallies thrive in high-risk asset surges, benefiting from speculative demand during geopolitical volatility and policy uncertainty.

💰 Fee drag risk – High volatility exposure may erode returns in prolonged downturns if fees exceed 0.15% during drawdowns.

📉 Structural underperformance – Overconcentration in North America amplifies currency and regulatory headwinds in global macro downturns.