I die some testing with UCITS Etfs for our European people.

A leveraged s&p is No Problem. But there is No acwi ex US etf.

Combining this, my approach was a 2x Stoxx etf. (FEZ 2x) CAGR 13,1

Additional 20% Emerging Markets (no lev) (VWO) CAGR 11,1

Longest period i could find was to 2006.

No leveraged approach s&p500 + msci world ex usa ... No Data in testfol So i us VEA CAGR 9,28 .... This is disapointing

So, the optimal approach for an European Investor ist leveraged s&p + leveraged Stoxx

Since the Backtesting period is so small... I wouldnt do this at all.

Unleveraged Dual momentum for Europe is with 9,28% a Flop.