In investing, many decisions are made by trying to answer a very difficult question: what will perform best in the future.
Which sector will lead the next decade. Which technology will change the world. Which trend will deliver the highest returns. Which country or region will grow the most.
The problem is that, although these questions are attractive, they are also almost always highly uncertain.
That’s why at inbestMe we have introduced K Portfolios, a new collection of portfolios (profiles from 1 to 10) designed and launched in collaboration with El Proyecto K, an initiative by Pablo González Vidal and Joan Tubau, with a different philosophy: instead of trying to predict what will change, invest in what is likely not to change.
Important note: to carry out this collaboration, Pablo González Vidal (through Gofar Consulting SLU) and Joan Tubau have been registered as exclusive agents of inbestMe.
A simple but powerful idea
The logic behind K Portfolios is connected to a reflection that has become very influential in the business and investment world, popularized by Jeff Bezos, which says that almost no one asks it: what is not going to change over the next ten years? Not what will be new, but what will remain.
It is easier to build with sound judgment on constants than on predictions.
Most investors try to anticipate what the next big winner will be. But in the long term, it is often more robust to rely on structural needs of the economy and society: what will continue to be important in 10, 20 or even 50 years. Healthcare, food, energy, housing, technological innovation. We are not talking about trends. We are talking about permanence.
That is precisely the spirit that inspires K Portfolios: a way of investing that focuses less on short-term noise and more on the fundamental pillars that sustain economic growth over time.
The origin: El Proyecto K methodology
The launch of these portfolios does not come from a commercial idea, but from a specific way of understanding investing.
El Proyecto K has focused on many of the ideas it shares with inbestMe’s mission of promoting financial education. In 2024, Pablo and Joan took a further step in that direction by bringing that education into practical application: index investing, portfolio construction, cost analysis, real diversification and disciplined maintenance of a long-term strategy. But their proposal goes beyond technique: their methodology also focuses on controlling behavioral biases, managing uncertainty, the importance of risk profiling, the K number in their terminology, and rebalancing as a tool for stability.
There is an underlying idea that fits very well with inbestMe’s philosophy: investing better does not consist of guessing the future, doing market timing, or making many movements, but of building a solid, efficient and diversified strategy that can be maintained over time.
A large part of all this is shared. That is why this collaboration makes sense.
What K Portfolios are: sector-based indexing
One of the core ideas of El Proyecto K’s training is the power and efficiency of indexing, often also referred to as passive management. Although El Proyecto K fully recognizes the virtues of indexing with geographical diversification, which is the foundation on which most inbestMe portfolios are built, both in indexed funds, ETFs or pension plans, their specialization has focused on K Portfolios, that is, an approach to indexing with a sector-based perspective.
K Portfolios are therefore a new range of indexed portfolios within inbestMe, designed for those who want to invest based on a sector structure, without neglecting diversification.
- In the design of K Portfolios there are 3 fundamental asset classes that are combined depending on the risk profile:
- Fixed income
- Sector-based equities, based on sectors that do not change
- Gold
Therefore, the two main differences of K Portfolios compared to most indexed portfolios are the use of sector allocation for equity exposure, which is more or less high depending on the risk profile, and the use of gold. Gold has a relevant weight in the allocation of K Portfolios, reaching up to 20 percent and in any case more important than in inbestMe ETF portfolios, where it never exceeds 10 percent, or in indexed fund portfolios, geographical portfolios in Proyecto K terminology, where it is zero.
Both El Proyecto K and inbestMe recommend establishing recurring contributions that can be fully automated. From there, inbestMe is responsible, through automated processes, for keeping the portfolio aligned with the defined strategy. In the case of these portfolios, an annual rebalancing is considered sufficient. This approach also helps to optimize taxation by avoiding buy and sell operations that do not add value, in these portfolios OFI are not executed. Finally, all ETFs used are accumulation ETFs.
These portfolios can be accessed from 5,000 euros. It is possible and recommended to automate recurring contributions, of any amount, although ideally they should exceed a minimum of 150 euros to ensure that purchases and rebalancing of positions are activated. Additional contributions are also recommended since they prevent the algorithm from generating sales to cover the different fees that are generated monthly.
The range includes 10 risk profiles, from profile 1, Very Conservative, to profile 10, Maximum Risk, so that each investor can find the appropriate balance between potential return and acceptable volatility.
The onboarding process at inbestMe is fully digital (it can be completed in 10 minutes) and is designed to recommend the most suitable portfolio profile for each client based mainly on their objectives, financial situation and risk profile.
A proposal consistent with index investing
Although K Portfolios have their own personality, their philosophy is directly connected with the principles that we at inbestMe have been defending for years:
- Less prediction, more process. Investors tend to overestimate their ability to anticipate the market. A well-designed portfolio depends more on each individual’s objectives and the process than on occasional accuracy.
- Real diversification. When we do not know with certainty what will be best, diversification stops being an aesthetic option and becomes a necessity. Gold provides additional diversification in the structure of the portfolios.
- Costs under control. Evidence shows again and again that costs matter. El Proyecto K also focuses on this within its portfolio construction methodology and ETF selection. Management costs range between 0.13 percent and 0.41 percent depending on assets under management, to which 0.11 percent of trading and custody is added, reduced to 0.06 percent above 1 million euros. The portfolios have an average TER of 0.18 percent of the ETFs that make up the portfolio, with TER ranging between 0.10 percent for lower profiles and 0.22 percent for profile 10.
- Rebalancing and discipline. Keeping a portfolio aligned with its objective requires discipline. For this reason, it is advisable to systematize contributions. Rebalancing is part of this maintenance logic and in this case an annual frequency has been chosen. Thus, the investment can function largely on autopilot, as happens with the rest of inbestMe portfolios, reducing the impact of behavioral biases.
What results have they shown so far?
The sector-based design of the portfolios is not new for Pablo González Vidal. Pablo learned the efficiency of this model managing a fund.
Pablo has transferred the efficiency of this model to indexing with ETFs with excellent results.
It is important to be very clear: past returns do not guarantee future returns. But when launching a new proposal, it is normal for investors to want to understand how it has behaved based on observed data so far.
According to the metrics from the period since Proyecto K started with these portfolios, January 2024 to January 2026, K Portfolios have shown solid performance across all profiles, with an excellent ratio between return and risk.
What stands out is not only the absolute return, which is remarkable across all profiles, but the risk-adjusted quality. A Sharpe ratio averaging around 1.5 indicates a strategy that has generated returns consistently without taking excessive risks.
To put it in perspective, the profile 7, the average investor profile at inbestMe, has accumulated plus 41.9 percent in this period compared to the already excellent plus 32.1 percent of inbestMe indexed fund portfolios, with an exceptional annual return of 17.6 percent, volatility of 8.7 percent, Sharpe of 1.8 and maximum drawdown of minus 12.6 percent.
You can see the statistics of the other profiles by clicking here.
In the chart above we compare different profile 7 portfolios and we see how the K Portfolio has achieved the best return with plus 41.9 percent. It is true that K Portfolios have benefited from the strong rally in gold, which has a weight of up to 20 percent. But it is also true that a backtest from August 2021 conducted by Proyecto K shows optimal results, with an annual return close to 11 percent for profile 7.
Who are they suitable for
The incorporation of K Portfolios into inbestMe is intended primarily to offer an automated solution to followers and clients of El Proyecto K, especially those who identify with its investment philosophy.
More generally, K Portfolios may be especially attractive to investors who:
- seek a long-term strategy with a clear and coherent narrative and connect with the idea of investing in what does not change
- prefer to rely on long-term structural trends rather than short-term tactical bets
- value diversification, risk control and discipline as pillars of a good investment strategy
- want a portfolio managed within the inbestMe ecosystem but with a differentiated philosophy
- and understand the advantages and flexibility offered by ETFs
In any case, followers or clients of El Proyecto K have access to the full range of inbestMe portfolios. Among them, geographically diversified indexed fund portfolios also stand out as a natural alternative.
K Portfolios are not designed for those looking to guess the next big winner. They are aimed at those who understand that in investing, the real value often lies in avoiding major mistakes, staying the course and building patiently on what does not change.
