Asset Allocation
Find the right asset allocation for Test Portfolio 2
Add portfolio to the optimizer to find optimal allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
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Performance Chart
The chart shows the growth of an initial investment of $10,000 in Test Portfolio 2 , 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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Returns By Period
As of Jun 13, 2026, the Test Portfolio 2 returned 27.41% Year-To-Date and 19.74% of annualized return in the last 10 years.
| Position | 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.50% | -0.93% | 8.56% | 8.85% | 24.33% | 19.37% | 11.84% | 13.61% |
Portfolio Test Portfolio 2 | 0.93% | 3.10% | 27.41% | 26.44% | 48.68% | 26.77% | 18.67% | 19.74% |
| Portfolio components: | ||||||||
FSHOX Fidelity Select Construction & Housing Portfolio | 3.42% | 0.88% | 7.27% | 4.94% | 15.36% | 14.91% | 10.49% | 15.05% |
PKB Invesco Dynamic Building & Construction ETF | 1.14% | 0.71% | 14.33% | 10.23% | 37.69% | 27.82% | 16.59% | 15.78% |
QLD ProShares Ultra QQQ | 1.30% | -0.55% | 32.65% | 32.82% | 73.89% | 44.57% | 23.24% | 35.67% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 0.93% | -1.22% | 31.50% | 28.78% | 37.06% | 18.49% | 20.90% | 9.46% |
RSPU Invesco S&P 500 Equal Weight Utilities ETF | 1.00% | 0.48% | 6.94% | 7.66% | 15.11% | 15.64% | 10.86% | 9.57% |
SOXX iShares Semiconductor ETF | 1.59% | 12.49% | 98.11% | 99.51% | 171.57% | 53.00% | 33.69% | 35.55% |
VO Vanguard Mid-Cap ETF | 0.97% | 2.97% | 10.43% | 9.31% | 19.60% | 15.74% | 7.79% | 11.77% |
XLV State Street Health Care Select Sector SPDR ETF | -0.18% | 4.90% | -0.23% | 0.67% | 15.00% | 7.12% | 6.00% | 9.81% |
Monthly Returns
Based on dividend-adjusted daily data since Nov 7, 2006, Test Portfolio 2 's average daily return is +0.06%, while the average monthly return is +1.28%. At this rate, an investment would double in approximately 4.5 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +18.9%, while the worst month was Oct 2008 at -20.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, Test Portfolio 2 closed higher 55% of trading days. The best single day was Oct 13, 2008 with a return of +11.9%, while the worst single day was Mar 16, 2020 at -15.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.77% | 5.25% | -5.08% | 13.17% | 5.44% | 1.05% | 27.41% | ||||||
| 2025 | 3.35% | -1.82% | -4.87% | -2.08% | 6.17% | 6.01% | 2.57% | 3.36% | 4.23% | 2.71% | 1.08% | -1.76% | 19.88% |
| 2024 | -0.36% | 7.09% | 5.41% | -4.99% | 4.77% | 0.91% | 3.60% | 1.02% | 2.72% | -2.37% | 6.58% | -6.78% | 17.82% |
| 2023 | 8.32% | -2.78% | 4.36% | 0.71% | 0.15% | 9.33% | 4.86% | -2.51% | -5.78% | -3.94% | 10.50% | 8.09% | 33.94% |
| 2022 | -6.08% | -1.86% | 3.87% | -8.40% | 3.49% | -11.94% | 11.80% | -4.23% | -10.50% | 8.67% | 7.72% | -6.20% | -15.90% |
| 2021 | 1.48% | 4.89% | 5.40% | 4.56% | 1.08% | 2.50% | 1.32% | 2.94% | -4.27% | 8.05% | 1.05% | 5.31% | 39.56% |
Benchmark Metrics
Test Portfolio 2 has an annualized alpha of 4.34%, beta of 1.13, and R2 of 0.93 versus S&P 500 Index. Calculated based on daily prices since November 07, 2006.
- This portfolio captured 136.26% of S&P 500 Index gains and 110.51% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This portfolio generated an annualized alpha of 4.34% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.13 and R2 of 0.93, this portfolio moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 4.34%
- Beta
- 1.13
- R²
- 0.93
- Upside Capture
- 136.26%
- Downside Capture
- 110.51%
Expense Ratio
Test Portfolio 2 has an expense ratio of 0.45%, placing it in the medium range. 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
Test Portfolio 2 ranks 91 for risk / return — in the top 91% of Portfolios on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below presents risk-adjusted performance metrics for Test Portfolio 2 and compares them with S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 2.90 | 1.86 | +1.04 |
| Sortino ratioReturn per unit of downside risk | 3.77 | 2.53 | +1.24 |
| Omega ratioGain probability vs. loss probability | 1.51 | 1.34 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.93 | 2.53 | +3.40 |
| Martin ratioReturn relative to average drawdown | 23.16 | 11.37 | +11.79 |
How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.
| Position | Risk / Return Rank | Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio |
|---|---|---|---|---|---|---|
FSHOX Fidelity Select Construction & Housing Portfolio | 10 | 0.67 | 1.16 | 1.13 | 0.84 | 2.12 |
PKB Invesco Dynamic Building & Construction ETF | 47 | 1.47 | 2.16 | 1.25 | 2.27 | 7.21 |
QLD ProShares Ultra QQQ | 62 | 2.04 | 2.48 | 1.33 | 2.78 | 9.46 |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 60 | 1.84 | 2.40 | 1.30 | 3.30 | 9.35 |
RSPU Invesco S&P 500 Equal Weight Utilities ETF | 31 | 1.01 | 1.42 | 1.18 | 1.67 | 3.77 |
SOXX iShares Semiconductor ETF | 96 | 4.43 | 4.37 | 1.62 | 10.50 | 38.20 |
VO Vanguard Mid-Cap ETF | 47 | 1.43 | 2.05 | 1.25 | 2.23 | 8.44 |
XLV State Street Health Care Select Sector SPDR ETF | 29 | 0.97 | 1.55 | 1.17 | 1.38 | 3.31 |
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Dividends
Dividend yield
Test Portfolio 2 provided a 1.75% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.75% | 1.63% | 1.65% | 1.39% | 1.46% | 1.70% | 1.86% | 2.25% | 3.27% | 2.90% | 1.55% | 1.83% |
| Portfolio components: | ||||||||||||
FSHOX Fidelity Select Construction & Housing Portfolio | 6.00% | 3.91% | 4.05% | 0.82% | 0.80% | 5.45% | 4.73% | 7.91% | 15.47% | 13.62% | 3.61% | 3.26% |
PKB Invesco Dynamic Building & Construction ETF | 0.14% | 0.14% | 0.23% | 0.33% | 0.43% | 0.25% | 0.30% | 0.37% | 0.54% | 0.17% | 0.31% | 0.11% |
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 1.99% | 2.60% | 2.43% | 2.84% | 3.43% | 2.37% | 3.15% | 2.15% | 2.18% | 2.55% | 1.14% | 2.80% |
RSPU Invesco S&P 500 Equal Weight Utilities ETF | 2.49% | 2.54% | 2.39% | 2.92% | 2.35% | 2.41% | 2.94% | 2.54% | 3.11% | 3.08% | 2.98% | 4.14% |
SOXX iShares Semiconductor ETF | 0.28% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
VO Vanguard Mid-Cap ETF | 1.36% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
XLV State Street Health Care Select Sector SPDR ETF | 1.63% | 1.60% | 1.67% | 1.59% | 1.47% | 1.33% | 1.49% | 2.17% | 1.57% | 1.47% | 1.60% | 1.43% |
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 Test Portfolio 2 . 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 Test Portfolio 2 was 58.42%, occurring on Mar 9, 2009. Recovery took 536 trading sessions.
The current Test Portfolio 2 drawdown is 1.07%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -58.42%Mar 2009 | 1y 5mo | 2y 1mo | 3y 6moOct 2007 - Apr 2011 |
COVID crash2020 | -42.75%Mar 2020 | 1mo 2d | 4mo 20d | 5mo 22dFeb 2020 - Aug 2020 |
Bear market2022 | -24.16%Oct 2022 | 9mo 12d | 8mo 4d | 1y 5moJan 2022 - Jun 2023 |
2011 bear market2011 | -23.82%Oct 2011 | 5mo 4d | 4mo 3d | 9mo 7dMay 2011 - Feb 2012 |
Rate-hike selloffLate 2018 | -23.04%Dec 2018 | 3mo 26d | 3mo 19d | 7mo 15dAug 2018 - Apr 2019 |
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 8 assets, with an effective number of assets of 8.00, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.46 | 1.30 | 1.27 | 1.23 | 1.19 |
The portfolio has a diversification ratio of 1.19, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.
Test Portfolio 2 correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2006 | 0.94 |
Benchmark Correlations
Correlation vs. S&P 500 Index. VO has the highest benchmark correlation at 0.93, while RSPU has the lowest at 0.46.
Asset Correlations Table
| RSPU | RSPG | XLV | SOXX | QLD | FSHOX | PKB | VO | |
|---|---|---|---|---|---|---|---|---|
| RSPU | 1.00 | 0.32 | 0.45 | 0.26 | 0.33 | 0.44 | 0.40 | 0.48 |
| RSPG | 0.32 | 1.00 | 0.36 | 0.42 | 0.41 | 0.46 | 0.51 | 0.60 |
| XLV | 0.45 | 0.36 | 1.00 | 0.49 | 0.62 | 0.58 | 0.56 | 0.69 |
| SOXX | 0.26 | 0.42 | 0.49 | 1.00 | 0.83 | 0.62 | 0.65 | 0.75 |
| QLD | 0.33 | 0.41 | 0.62 | 0.83 | 1.00 | 0.68 | 0.69 | 0.82 |
| FSHOX | 0.44 | 0.46 | 0.58 | 0.62 | 0.68 | 1.00 | 0.89 | 0.85 |
| PKB | 0.40 | 0.51 | 0.56 | 0.65 | 0.69 | 0.89 | 1.00 | 0.85 |
| VO | 0.48 | 0.60 | 0.69 | 0.75 | 0.82 | 0.85 | 0.85 | 1.00 |
Find what Test Portfolio 2 is missing
See which holdings overlap, where Test Portfolio 2 is concentrated, and which low-correlation assets could fill the gaps.
Analyze Diversification