{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,30]],"date-time":"2026-10-30T08:34:03Z","timestamp":1793349243867,"version":"4.5.0"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2026,1,1]],"date-time":"2026-01-01T00:00:00Z","timestamp":1767225600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>We analyze a multi-asset calendar anomaly around U.S. federal elections that is consistent across assets and simple to trade. While &lt;a href=\"https:\/\/quantpedia.com\/pre-election-drift-in-the-stock-market\/\" rel=\"nofollow\"&gt;our previous study&lt;\/a&gt; documents a robust pre-election drift, the cross-asset pricing of its D+1 resolution remains unmapped beyond SPY. Using a diversified ETF basket spanning technology, emerging markets, real estate, high-yield credit, gold, oil, and foreign exchange, we show that election day itself is neutral to slightly positive \u2014 an equal-weight D0 long earns a modest 1.03% p.a. at a Sharpe of 0.19, which we document as the control arm of the experiment but do not trade \u2014 while the following session delivers a systematic sell-off across all seven legs as the political uncertainty premium collapses. An equal-weight short on D+1 yields 1.86% per annum with a Sharpe of 0.31 and a maximum drawdown of -4.16%, achieved over 13 trading days in 26 years. Intermediate Treasuries exhibit the inverse pattern, selling off in the four days before the vote and rallying from D0 to D+2, with a Sharpe of 0.48.<\/jats:p>","DOI":"10.2139\/ssrn.7672559","type":"posted-content","created":{"date-parts":[[2026,10,30]],"date-time":"2026-10-30T08:12:03Z","timestamp":1793347923000},"source":"Crossref","is-referenced-by-count":0,"title":["Trading the Multi-Asset Drift Around U.S. Elections"],"prefix":"10.2139","author":[{"given":"Radovan","family":"Vojtko","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Cyril","family":"Dujava","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,10,30]],"date-time":"2026-10-30T08:12:03Z","timestamp":1793347923000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=7672559"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.7672559","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}