2 Fund Allocation - Equity + Debt ETF - TQQQ vis a vis TMF

Keeping things simple. Links to Consider tiny.cc/usd2a tiny.cc/usd2b

If i stick to TQQQ and TMF - 2 Passive ETFs and have Adaptive Allocation Model or Equal Weighted Model in Option 1 comparison and then backtesting using 50-50 Portfolio Allocation in Option 2, should not the Option 2 match Equal Weighted Model in Option 1. Why i have such wide divergence in max drawdowns between equal weighted portfolio vs 50-50 allocation for this 2 FUND (etf - bond/ stock viz TQQQ and TMF)

Thanks in Advance

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