quantifiededges says:
pairing two ETFs with a once-a-year rebalance, has delivered a remarkable 18% compound annual growth rate (CAGR) since 2012, with a maximum open drawdown of -28%. An anti-beta ETF (BTAL) acting as a hedge, and a 3x leveraged Nasdaq fund, specifically TQQQ, which tracks the Nasdaq-100 Index with triple leverage. A once-a-year rebalance on the first trading day of January to restore the portfolio’s target weights. That’s it—just five minutes of work annually.
67% BTAL – long position. Market neutral, short beta exposure.
33% TQQQ – long position, 3x exposure to Nasdaq.

The result does not differ that much if you re-balance quarterly or annually. The annual return is 18%, and the max drawdown is 28% per post, from late 2011 forward.

You might want to swap TQQQ with QLD (2x leverage to Nasdaq 100) it notes.

Instead of a percent of each, I tested simply alternating between SPY and TQQQ by the best 200 day return from the latter's start date 19930129, with the usual BCC for timing used in many tests her. I also tested with QLD instead of treble leverage, and this was superior.

strategyTQQQ  Nasdaq100   SPY  strategyQLD
cagr 18.97  11%         11.3%    18.89
gsd  38.95  27.8        17.76    27.93
mdd -69.9  -80.79      -60.29   -51.7
shrp   .64    .45         .58      .74
beta  1.29   1.3         1.0      1.0
2024 58.2    6.6        13.0     42.8
2008-27.5  -43.2       -40.9    -27.5

gtr1.net: GTR1 Backtester
gtr1.net: GTR1 Backtester

http://gtr1.net/2013/?h21::gprc%281%29gt0:tr%281,2...

http://gtr1.net/2013/?h21::gprc%281%29gt0:tr%281,2...