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Borsafolio monthly reports track the performance of our six BIST factor portfolios for May 2026, comparing them against the BIST 100 index and alternative assets including gold, USD/TRY, the S&P 500, and Bitcoin. Reports are generated automatically at the start of each month and provide a data-driven record of how factor investing strategies performed in the real world.
Every monthly report contains six main sections: (1) monthly returns of the factor portfolios (Momentum, Value, Low Volatility, Vol + Trend, Dividend + Quality, ML Ensemble), (2) asset-class comparison (BIST 100, gold, USD, EUR, S&P 500, Bitcoin), (3) BIST sector performance map, (4) top winners and losers of the month, (5) sector momentum ranking, and (6) macro data such as CBRT CPI, housing price index, and TLREF.
These reports are published to support the transparency ethos at the heart of factor investing. Instead of relying solely on backtests, we maintain a real-time, verifiable performance track record. Portfolios are rebalanced automatically at the beginning of each month and their subsequent performance is reported publicly. This discipline grounds the academic claims of factor strategies in the actual Turkish market environment.
The May 2026 report is not investment advice on its own. A single month's return can be random — what matters is the long-term trend. By comparing reports sequentially you can see which factors work best under different market conditions and observe the benefit of combining multiple factors. Over 3-5 years, no single factor outperforms in every period, which is why academic literature generally recommends blending 2-3 factors in a portfolio.