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DWEX is back! A(nother) new Darwinex Index by DarwinexLabs called INDX

IlIlIlIlI

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Now DarwinexLabs tries it again with

A small description is here

Highlights:
- investments from 10k to 100k possible, only without leverage
- same fees charged as for other Darwin investments
- so I assume, the 20% performance fee is not to pay for the winners while the losses are going 100% to the investor account, it is to pay for the index
- the exact composition of the index will not be accessible to investors
- the Darwin is unique in that it is quoted only once per day
- to purchase the Darwin INDX, there must be a dedicated unleveraged portfolio in which only the Darwin INDX is traded
- investor's buy and sell orders are executed at market close (17:00 New York time) [holding the money overnight without buying anything]
- investors can submit their order at any time, but it will be executed at the opening price of the following day

The start is here (with 6 investors):

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Findings:
- the Darwin presentation does never include fees, so I strongly assume, this presentation and performance of INDX is also calculated without fees
- the only green month over the last 5 years is November
- the performance in 2025 is significantly .. .. waiting for a green November again 😉

I'm curious what they have to show on the tax report to investors where they usually showed the management fee and the investor fee for each Darwin with the name of the Darwin.


Discussions about the ancestors of this index can be read here:



 
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So, has DarwinexLabs started investing Darwins in 2020 and that is the performance?

"
With a track record dating back to June 2020, this product is based on real investments made by our team and is optimized to achieve a target risk level of 6.5% monthly VaR, in line with the rest of the DARWINs.
"

Seems a real performance but I am quite skeptical...
 
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So, has DarwinexLabs started investing Darwins in 2020 and that is the performance?

"
With a track record dating back to June 2020, this product is based on real investments made by our team and is optimized to achieve a target risk level of 6.5% monthly VaR, in line with the rest of the DARWINs.
"

Seems a real performance but I am quite skeptical...
I don't think that this portfolio exists since 2020 as they don't write it in such a clear way.

What I believe is that the Darwinex staff invested in the Darwins used for INDX as they always were investors.

"... based on real investments made by our team and is optimized to achieve a target risk level of 6.5% monthly VaR..."

I think the past is constructed like a backtest showing only survivors, from real investments of several and different staff members in their live portfolios.

Maybe there are real investments in this portfolio since the beginning of 2025 (the significantly lower performance 2025 could be a hint for that).
 
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Darwinex guys do not seem genius traders or investors:
 
INDX investor information when trying to buy - a demo is not available.

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I'm curious whether they open now a sixth portfolio if the regular five ones were all used and were all leveraged.

But I'm not curious enough to try it out - black box deals are not my favour.
 
Will it be possible to follow the performance (without investing) from now on?
Is it listed on the Darwinex platform?
 
Will it be possible to follow the performance (without investing) from now on?
Is it listed on the Darwinex platform?
It is listed like a normal Darwin, but only with a daily update and most research data are removed.

Interesting, that they got 11 new investors with new 240k AuM from their first mailing on the first day (also updated only once daily, I assume):

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It is exactly what many "traders" are doing.
Hold stocks or indexes and add some noise with an unprofitable strategy.
I think this is the main reason they hide the assets, this is the "intellectual property" to protect.

When they created "stocks darwins" they changed the Market Correlation score to be more forgiving.
And btw now nobody cares about MC anymore, DScore is calculated on return and everyone only cares about return.
 
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Today there are 13 more new blackbox investors buying with $222k a Darwin where they don't know the price they will get:

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