Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | Long-Short | 20% |
GLD SPDR Gold Shares | Gold, Precious Metals | 20% |
SCHH Schwab US REIT ETF | REIT | -500% |
SSO ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 40% |
UUP Invesco DB US Dollar Index Bullish Fund | Currency | 20% |
VNQ Vanguard Real Estate ETF | REIT | 500% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in GLD, 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 Sep 13, 2011, corresponding to the inception date of BTAL
Returns By Period
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.11% | -3.63% | -3.84% | -1.98% | 29.73% | 16.86% | 10.37% | 12.29% |
Portfolio GLD | — | — | — | — | — | — | — | — |
| Portfolio components: | ||||||||
SCHH Schwab US REIT ETF | 1.53% | -3.34% | 5.45% | 3.31% | 12.90% | 7.65% | 3.84% | 3.46% |
VNQ Vanguard Real Estate ETF | 1.36% | -3.58% | 3.06% | 0.66% | 11.42% | 7.33% | 3.14% | 4.85% |
GLD SPDR Gold Shares | -1.92% | -7.88% | 8.35% | 20.07% | 53.51% | 32.51% | 21.53% | 13.97% |
UUP Invesco DB US Dollar Index Bullish Fund | 0.47% | 1.38% | 3.07% | 4.81% | 1.95% | 4.90% | 5.26% | 3.13% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 1.23% | -1.62% | -2.85% | -8.42% | -32.84% | -8.40% | -1.47% | -3.19% |
SSO ProShares Ultra S&P500 | 0.17% | -7.53% | -8.75% | -6.34% | 58.29% | 28.66% | 15.72% | 21.33% |
Monthly Returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.63% | -9.81% | -6.88% | -0.41% | -13.32% | ||||||||
| 2025 | 7.49% | -1.08% | -4.05% | -2.95% | 3.27% | 5.17% | 6.81% | 3.10% | 2.18% | 0.19% | 1.98% | -0.59% | 22.92% |
| 2024 | 2.29% | 4.90% | 4.69% | -2.85% | 1.27% | 1.26% | 5.37% | 0.57% | 2.37% | 1.92% | 6.75% | -4.08% | 26.70% |
| 2023 | 7.29% | -3.60% | 2.23% | 2.21% | 0.04% | 5.48% | 2.29% | -0.58% | -4.33% | -2.01% | 8.01% | 3.77% | 21.87% |
| 2022 | -5.69% | 0.33% | 0.03% | -6.67% | -0.94% | -5.22% | 6.53% | -5.25% | -8.54% | 7.11% | 5.91% | -5.02% | -17.51% |
| 2021 | -0.17% | 2.06% | 2.05% | 3.47% | 1.13% | 0.67% | 3.28% | 2.22% | -2.98% | 5.88% | -5.71% | 5.63% | 18.30% |
Benchmark Metrics
GLD has an annualized alpha of 7.49%, beta of 0.73, and R² of 0.43 versus S&P 500 Index. Calculated based on daily prices since September 14, 2011.
- This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (89.07%) than losses (63.58%) — typical of diversified or defensive assets.
- R² of 0.43 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 7.49%
- Beta
- 0.73
- R²
- 0.43
- Upside Capture
- 89.07%
- Downside Capture
- 63.58%
Expense Ratio
Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.
Return for Risk
Risk / Return Rank
GLD ranks 50 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.
Return / Risk — by metrics
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 | |
|---|---|---|---|---|---|---|
SCHH Schwab US REIT ETF | 18 | 0.28 | 0.49 | 1.07 | 0.40 | 1.55 |
VNQ Vanguard Real Estate ETF | 15 | 0.18 | 0.36 | 1.05 | 0.29 | 1.11 |
GLD SPDR Gold Shares | 78 | 1.77 | 2.19 | 1.32 | 2.57 | 9.28 |
UUP Invesco DB US Dollar Index Bullish Fund | 13 | 0.17 | 0.28 | 1.04 | 0.15 | 0.30 |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 1 | -1.32 | -1.98 | 0.79 | -0.89 | -1.20 |
SSO ProShares Ultra S&P500 | 39 | 0.72 | 1.22 | 1.18 | 1.19 | 5.03 |
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Dividends
Dividend yield
GLD provided a 5.96% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 5.96% | 5.87% | 5.08% | 6.15% | 7.39% | 5.35% | 5.40% | 3.40% | 6.08% | 10.24% | 10.26% | 7.44% |
| Portfolio components: | ||||||||||||
SCHH Schwab US REIT ETF | 2.97% | 3.04% | 3.22% | 3.24% | 2.55% | 1.50% | 2.86% | 2.86% | 3.64% | 2.22% | 2.81% | 2.48% |
VNQ Vanguard Real Estate ETF | 3.86% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.33% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% | 0.00% | 0.00% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.56% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
SSO ProShares Ultra S&P500 | 0.81% | 0.68% | 0.85% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% |
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 GLD. 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 GLD was 23.75%, occurring on Sep 30, 2022. Recovery took 311 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -23.75% | Nov 1, 2021 | 231 | Sep 30, 2022 | 311 | Dec 27, 2023 | 542 |
| -21.09% | Jan 29, 2026 | 41 | Mar 27, 2026 | — | — | — |
| -19.52% | Jul 18, 2014 | 11 | Aug 1, 2014 | 17 | Aug 26, 2014 | 28 |
| -17.99% | Aug 27, 2014 | 351 | Jan 19, 2016 | 91 | May 27, 2016 | 442 |
| -16.95% | Jan 29, 2018 | 228 | Dec 21, 2018 | 56 | Mar 15, 2019 | 284 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
Asset Correlations Table
| Benchmark | GLD | UUP | BTAL | SCHH | VNQ | SSO | Portfolio | |
|---|---|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.04 | -0.17 | -0.52 | 0.58 | 0.60 | 1.00 | 0.67 |
| GLD | 0.04 | 1.00 | -0.46 | 0.01 | 0.11 | 0.12 | 0.04 | 0.22 |
| UUP | -0.17 | -0.46 | 1.00 | 0.11 | -0.19 | -0.20 | -0.17 | -0.14 |
| BTAL | -0.52 | 0.01 | 0.11 | 1.00 | -0.22 | -0.23 | -0.52 | -0.25 |
| SCHH | 0.58 | 0.11 | -0.19 | -0.22 | 1.00 | 0.99 | 0.58 | 0.30 |
| VNQ | 0.60 | 0.12 | -0.20 | -0.23 | 0.99 | 1.00 | 0.60 | 0.40 |
| SSO | 1.00 | 0.04 | -0.17 | -0.52 | 0.58 | 0.60 | 1.00 | 0.68 |
| Portfolio | 0.67 | 0.22 | -0.14 | -0.25 | 0.30 | 0.40 | 0.68 | 1.00 |