morningstar 10stock

Asset Allocation

Position	Category/Sector	Target Weight
CMCSA Comcast Corporation	Communication Services	10%
DOW Dow Inc.	Basic Materials	10%
DUK Duke Energy Corporation	Utilities	10%
DVN Devon Energy Corporation	Energy	10%
JNJ Johnson & Johnson	Healthcare	10%
KMI Kinder Morgan, Inc.	Energy	10%
MDT Medtronic plc	Healthcare	10%
PNC The PNC Financial Services Group, Inc.	Financial Services	10%
VZ Verizon Communications Inc.	Communication Services	10%
XOM Exxon Mobil Corporation	Energy	10%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in morningstar 10stock, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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The earliest data available for this chart is Mar 20, 2019, corresponding to the inception date of DOW

Returns By Period

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.11%	-3.43%	-3.84%	-1.98%	16.08%	16.86%	10.37%	12.29%
Portfolio morningstar 10stock	0.58%	3.69%	23.09%	26.25%	24.63%	13.80%	10.51%	—
Portfolio components:
XOM Exxon Mobil Corporation	-0.06%	5.84%	34.42%	46.62%	40.06%	15.29%	27.66%	11.56%
VZ Verizon Communications Inc.	0.02%	-2.89%	23.39%	17.79%	17.97%	15.58%	2.85%	4.39%
JNJ Johnson & Johnson	-0.44%	-1.50%	18.06%	32.21%	60.80%	19.22%	11.44%	11.41%
CMCSA Comcast Corporation	-0.43%	-8.88%	7.98%	6.17%	-10.09%	-2.49%	-7.57%	2.81%
MDT Medtronic plc	0.66%	-9.69%	-9.08%	-7.86%	0.59%	6.23%	-3.11%	3.97%
DUK Duke Energy Corporation	1.01%	0.60%	13.77%	10.64%	13.72%	16.05%	10.77%	9.40%
PNC The PNC Financial Services Group, Inc.	1.18%	-0.63%	2.20%	8.64%	23.95%	24.06%	7.42%	13.13%
KMI Kinder Morgan, Inc.	0.27%	-2.92%	21.10%	19.30%	18.92%	29.85%	21.03%	12.25%
DVN Devon Energy Corporation	1.85%	13.06%	35.81%	45.89%	33.89%	0.61%	22.00%	10.48%
DOW Dow Inc.	1.74%	34.68%	79.17%	79.45%	26.69%	-3.67%	-3.38%	—

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Mar 21, 2019, morningstar 10stock's average daily return is +0.05%, while the average monthly return is +1.05%. At this rate, your investment would double in approximately 5.5 years.

Historically, 62% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +20.2%, while the worst month was Mar 2020 at -17.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.

On a daily basis, morningstar 10stock closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +8.4%, while the worst single day was Mar 9, 2020 at -10.9%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	10.93%	6.63%	5.13%	-1.01%									23.09%
2025	1.96%	3.81%	1.12%	-7.59%	0.15%	2.47%	0.43%	4.31%	-0.69%	-3.85%	5.41%	0.56%	7.63%
2024	1.71%	-0.77%	5.92%	-3.16%	2.68%	-1.93%	5.56%	2.00%	0.72%	0.25%	2.48%	-8.69%	6.04%
2023	5.45%	-5.81%	-2.30%	4.85%	-8.83%	5.95%	4.02%	-2.67%	-2.77%	-3.42%	6.23%	3.70%	2.93%
2022	6.35%	1.07%	3.58%	-3.37%	8.06%	-11.69%	3.75%	-1.80%	-9.88%	10.61%	2.79%	-2.49%	4.51%
2021	-0.15%	9.38%	5.50%	3.74%	4.22%	0.28%	-0.83%	1.55%	-0.39%	2.25%	-4.17%	3.73%	27.39%

Benchmark Metrics

morningstar 10stock has an annualized alpha of 1.92%, beta of 0.79, and R² of 0.56 versus S&P 500 Index. Calculated based on daily prices since March 21, 2019.

This portfolio participated in 82.69% of S&P 500 Index downside but only 79.76% of its upside — more exposed to losses than it benefited from rallies.

Alpha: 1.92%

Beta: 0.79

R²: 0.56

Upside Capture: 79.76%

Downside Capture: 82.69%

Expense Ratio

morningstar 10stock has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

morningstar 10stock ranks 55 for risk / return — on par with similar portfolios. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

	Portfolio	Benchmark	Difference
Sharpe ratio Return per unit of total volatility	1.49	0.88	+0.60
Sortino ratio Return per unit of downside risk	2.02	1.37	+0.65
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	1.92	1.39	+0.53
Martin ratio Return relative to average drawdown	6.43	6.43	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
XOM Exxon Mobil Corporation	80	1.58	2.06	1.28	2.51	6.57
VZ Verizon Communications Inc.	64	0.79	1.35	1.17	1.22	2.79
JNJ Johnson & Johnson	97	3.51	4.77	1.64	7.48	25.03
CMCSA Comcast Corporation	24	-0.38	-0.38	0.96	-0.36	-0.77
MDT Medtronic plc	37	0.03	0.19	1.02	0.06	0.16
DUK Duke Energy Corporation	63	0.86	1.25	1.15	1.20	2.82
PNC The PNC Financial Services Group, Inc.	67	0.94	1.36	1.19	1.49	3.45
KMI Kinder Morgan, Inc.	65	0.83	1.15	1.17	1.57	3.56
DVN Devon Energy Corporation	65	0.81	1.32	1.18	1.20	3.25
DOW Dow Inc.	55	0.51	1.05	1.14	0.72	1.19

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

morningstar 10stock Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 1.49
5-Year: 0.66
All Time: 0.54

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 1.00 to 1.69, this portfolio's current Sharpe ratio falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of morningstar 10stock compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

morningstar 10stock provided a 3.99% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	3.99%	4.24%	4.31%	4.37%	4.63%	4.04%	4.30%	3.11%	2.97%	2.31%	2.41%	3.75%
Portfolio components:
XOM Exxon Mobil Corporation	2.51%	3.32%	3.57%	3.68%	3.22%	5.70%	8.44%	4.92%	4.74%	3.66%	3.30%	3.69%
VZ Verizon Communications Inc.	5.54%	6.68%	6.68%	6.96%	6.53%	4.85%	4.21%	3.95%	4.22%	4.39%	4.26%	4.79%
JNJ Johnson & Johnson	2.14%	2.48%	3.40%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%
CMCSA Comcast Corporation	10.39%	4.35%	3.25%	2.60%	3.03%	1.95%	1.72%	1.40%	2.69%	1.18%	1.96%	1.73%
MDT Medtronic plc	3.28%	2.95%	3.49%	3.34%	3.44%	2.39%	1.95%	1.87%	2.15%	2.24%	2.34%	1.88%
DUK Duke Energy Corporation	3.21%	3.60%	3.84%	4.18%	3.86%	3.72%	4.17%	4.11%	4.21%	4.15%	4.33%	4.54%
PNC The PNC Financial Services Group, Inc.	3.16%	3.16%	3.27%	3.94%	3.64%	2.39%	3.09%	2.63%	2.91%	1.80%	1.81%	2.11%
KMI Kinder Morgan, Inc.	3.55%	4.24%	4.18%	6.38%	6.10%	6.76%	7.59%	4.49%	4.71%	2.77%	2.41%	12.94%
DVN Devon Energy Corporation	1.94%	2.62%	4.43%	4.55%	8.41%	5.24%	4.30%	1.35%	1.33%	0.58%	0.92%	3.00%
DOW Dow Inc.	4.23%	8.98%	6.98%	5.11%	5.56%	4.94%	5.05%	3.84%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the morningstar 10stock. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the morningstar 10stock was 41.14%, occurring on Mar 23, 2020. Recovery took 172 trading sessions.

The current morningstar 10stock drawdown is 1.08%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-41.14%	Jan 21, 2020	44	Mar 23, 2020	172	Nov 24, 2020	216
-19.69%	May 31, 2022	82	Sep 26, 2022	453	Jul 17, 2024	535
-15.82%	Oct 21, 2024	116	Apr 8, 2025	186	Jan 5, 2026	302
-7.91%	May 1, 2019	81	Aug 23, 2019	15	Sep 16, 2019	96
-7.87%	Oct 21, 2021	29	Dec 1, 2021	23	Jan 4, 2022	52

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 10 assets, with an effective number of assets of 10.00, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	Benchmark	DUK	JNJ	VZ	CMCSA	MDT	DVN	XOM	DOW	PNC	KMI	Portfolio
Benchmark	1.00	0.23	0.29	0.26	0.52	0.51	0.37	0.35	0.50	0.58	0.44	0.59
DUK	0.23	1.00	0.43	0.47	0.28	0.37	0.09	0.18	0.18	0.22	0.33	0.42
JNJ	0.29	0.43	1.00	0.40	0.31	0.44	0.10	0.18	0.22	0.22	0.21	0.42
VZ	0.26	0.47	0.40	1.00	0.37	0.33	0.15	0.25	0.29	0.30	0.28	0.49
CMCSA	0.52	0.28	0.31	0.37	1.00	0.42	0.26	0.30	0.39	0.43	0.30	0.57
MDT	0.51	0.37	0.44	0.33	0.42	1.00	0.21	0.27	0.36	0.40	0.34	0.55
DVN	0.37	0.09	0.10	0.15	0.26	0.21	1.00	0.76	0.52	0.45	0.60	0.74
XOM	0.35	0.18	0.18	0.25	0.30	0.27	0.76	1.00	0.52	0.44	0.63	0.76
DOW	0.50	0.18	0.22	0.29	0.39	0.36	0.52	0.52	1.00	0.54	0.42	0.73
PNC	0.58	0.22	0.22	0.30	0.43	0.40	0.45	0.44	0.54	1.00	0.46	0.69
KMI	0.44	0.33	0.21	0.28	0.30	0.34	0.60	0.63	0.42	0.46	1.00	0.72
Portfolio	0.59	0.42	0.42	0.49	0.57	0.55	0.74	0.76	0.73	0.69	0.72	1.00

The correlation results are calculated based on daily price changes starting from Mar 21, 2019

morningstar 10stock

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Benchmark Metrics

Expense Ratio

Return for Risk

Risk / Return Rank

Return / Risk — by metrics

Sharpe ratio

Sortino ratio

Omega ratio

Calmar ratio

Martin ratio

Sharpe Ratio

Dividends

Dividend yield

Drawdowns

Drawdowns Chart

Worst Drawdowns

Volatility

Volatility Chart

Diversification

Diversification Metrics

Number of Effective Assets

Asset Correlations Table