ATLASCase study: the ATLAS × IE Investment Challenge
In October 2026, ATLAS and IE University launched the first ATLAS investment challenge. This page describes how it was designed. It will be updated with the outcomes once the challenge has closed.
The format
Ten teams of up to five students invested virtual capital in the real US market from 13 to 28 October 2026. Each team started with $1,000,000 and could buy or short US stocks and ETFs at live prices. The ranking updated throughout the trading day.
The rules that shaped behaviour
Every order needed the approval of three team members, and proposals expired after 24 hours. Short positions were capped at 50% of portfolio value. Teams were ranked by total return, with lower volatility as the first tie-breaker.
Three prizes
The challenge awarded the highest total return, the best risk-adjusted return and the best investment thesis. A jury with members from Vanguard, Crédit Agricole CIB, IE University and ATLAS reviewed each team's report and presentation.
The kickoff
The challenge began on campus in Madrid with a kickoff session and talks from guest speakers on the difference between speculating and investing, and on how professional investors move from numbers to value.
Built with the faculty
The platform was adapted together with IE University, which is how ATLAS approaches every partner: the format, the rules and the screens are tailored to the course.
What we are measuring
Beyond the ranking, we look at participation, how teams argued their trades and the quality of the final reports. The official rules and the press release are public.
Official rules of the IE challenge →
Frequently asked questions
Who took part?
Ten teams of students from IE University in Madrid.
Was real money used?
No. The challenge used virtual capital at real market prices.
Can my university do the same?
Yes. ATLAS builds each challenge with the faculty. Request a walkthrough to discuss dates, rules and format.
Related guides and terms
Run a challenge in your course or club
Tell us your dates, your students and your goals. ATLAS sets up the rules, the teams and the ranking, and you follow the whole class from one dashboard.
ATLAS challenges are educational simulations: they use virtual money and are not investment advice. Not investment advice. ATLAS estimates are produced by statistical models from public data; they can be wrong and past performance does not predict future results. Consider your own situation before investing. Disclaimer