Forever v4 (to analyze)

Asset Allocation

Position	Category/Sector	Target Weight
AQMNX AQR Managed Futures Strategy Fund Class N	Systematic Trend	7.50%
BTAL AGFiQ US Market Neutral Anti-Beta Fund	Long-Short	1%
BTC-USD Bitcoin		1%
CMNIX Calamos Market Neutral Income Fund Institutional Class		8.50%
EEM iShares MSCI Emerging Markets ETF	Emerging Markets Diversified	4%
EFA iShares MSCI EAFE ETF	Foreign Large Cap Equities	4%
GLD SPDR Gold Shares	Gold, Precious Metals	5%
IEF iShares 7-10 Year Treasury Bond ETF	Government Bonds	12.50%
QLENX AQR Long-Short Equity N	Long-Short	6.50%
QMNNX AQR Equity Market Neutral Fund N	Equity Market Neutral	10%
QSPIX AQR Style Premia Alternative Fund	Multistrategy	5.50%
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	Commodities, Actively Managed	10%
TLT iShares 20+ Year Treasury Bond ETF	Government Bonds, Long-Term Bond	3%
UUP Invesco DB US Dollar Index Bullish Fund	Currency	6%
XLE State Street Energy Select Sector SPDR ETF	Energy Equities	1.50%
XLK State Street Technology Select Sector SPDR ETF	Technology Equities	5%
XLP State Street Consumer Staples Select Sector SPDR ETF	Consumer Staples Equities	5%
XLV State Street Health Care Select Sector SPDR ETF	Health & Biotech Equities	4%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Forever v4 (to analyze), 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 May 3, 2018, corresponding to the inception date of SDCI

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 Forever v4 (to analyze)	0.11%	0.47%	4.47%	7.30%	15.49%	14.48%	12.02%	—
Portfolio components:
XLK State Street Technology Select Sector SPDR ETF	0.80%	-0.98%	-5.43%	-4.69%	30.55%	22.58%	15.84%	21.15%
XLP State Street Consumer Staples Select Sector SPDR ETF	0.53%	-6.14%	6.01%	6.51%	3.19%	5.77%	6.56%	7.15%
XLV State Street Health Care Select Sector SPDR ETF	-0.62%	-5.95%	-4.77%	3.39%	3.55%	5.64%	6.45%	9.60%
GLD SPDR Gold Shares	-1.92%	-8.27%	8.35%	21.03%	49.02%	32.51%	21.53%	13.97%
XLE State Street Energy Select Sector SPDR ETF	0.47%	5.52%	33.39%	36.01%	29.93%	14.70%	23.16%	11.36%
UUP Invesco DB US Dollar Index Bullish Fund	0.47%	1.46%	3.07%	4.62%	1.27%	4.90%	5.26%	3.13%
BTAL AGFiQ US Market Neutral Anti-Beta Fund	1.23%	-1.89%	-2.85%	-8.42%	-29.50%	-8.40%	-1.47%	-3.19%
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	1.66%	11.39%	24.74%	25.05%	30.37%	21.12%	22.86%	—
TLT iShares 20+ Year Treasury Bond ETF	0.61%	-2.56%	0.69%	-0.91%	-0.77%	-2.76%	-5.75%	-1.34%
IEF iShares 7-10 Year Treasury Bond ETF	0.23%	-1.48%	0.01%	0.50%	3.83%	2.14%	-0.73%	0.79%

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

Monthly Returns

Based on dividend-adjusted daily data since May 4, 2018, Forever v4 (to analyze)'s average daily return is +0.03%, while the average monthly return is +0.76%. At this rate, your investment would double in approximately 7.6 years.

Historically, 72% of months were positive and 28% were negative. The best month was Mar 2024 with a return of +3.8%, while the worst month was Jun 2022 at -3.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Forever v4 (to analyze) closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +2.4%, while the worst single day was Mar 12, 2020 at -4.0%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	2.57%	2.41%	-1.01%	0.47%									4.47%
2025	2.42%	2.04%	0.89%	-0.35%	1.43%	1.91%	0.19%	1.77%	2.82%	1.38%	0.92%	0.59%	17.17%
2024	2.07%	1.78%	3.80%	-0.31%	2.01%	0.39%	0.22%	0.87%	1.12%	-0.58%	2.28%	-0.29%	14.11%
2023	2.68%	-0.81%	1.08%	1.21%	-1.39%	2.51%	1.89%	0.20%	0.21%	0.04%	2.55%	0.65%	11.27%
2022	2.80%	0.67%	1.78%	0.67%	1.64%	-3.93%	0.74%	-1.52%	-3.69%	3.45%	3.52%	-0.36%	5.56%
2021	0.74%	1.95%	3.01%	2.16%	1.54%	-0.84%	0.96%	0.00%	-0.76%	2.00%	-1.01%	3.67%	14.11%

Benchmark Metrics

Forever v4 (to analyze) has an annualized alpha of 6.08%, beta of 0.23, and R² of 0.57 versus S&P 500 Index. Calculated based on daily prices since May 04, 2018.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (32.72%) than losses (16.10%) — typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 6.08% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
Beta of 0.23 indicates this portfolio moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

Alpha: 6.08%

Beta: 0.23

R²: 0.57

Upside Capture: 32.72%

Downside Capture: 16.10%

Expense Ratio

Forever v4 (to analyze) has a high expense ratio of 1.48%, indicating above-average management fees. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

Top 10 holdings

QMNNX

AQR Equity Market Neutral Fund N

QLENX

AQR Long-Short Equity N

AQMNX

AQR Managed Futures Strategy Fund Class N

BTAL

AGFiQ US Market Neutral Anti-Beta Fund

QSPIX

AQR Style Premia Alternative Fund

CMNIX

Calamos Market Neutral Income Fund Institutional Class

UUP

Invesco DB US Dollar Index Bullish Fund

EEM

iShares MSCI Emerging Markets ETF

SDCI

USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund

GLD

SPDR Gold Shares

Return for Risk

Risk / Return Rank

Forever v4 (to analyze) ranks 97 for risk / return — in the top 97% 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.

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	2.44	0.88	+1.56
Sortino ratio Return per unit of downside risk	3.25	1.37	+1.88
Omega ratio Gain probability vs. loss probability	1.55	1.21	+0.34
Calmar ratio Return relative to maximum drawdown	8.95	1.39	+7.56
Martin ratio Return relative to average drawdown	29.54	6.43	+23.11
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
XLK State Street Technology Select Sector SPDR ETF	61	1.13	1.71	1.24	1.98	6.27
XLP State Street Consumer Staples Select Sector SPDR ETF	16	0.23	0.43	1.05	0.30	0.71
XLV State Street Health Care Select Sector SPDR ETF	16	0.20	0.40	1.05	0.39	0.83
GLD SPDR Gold Shares	80	1.77	2.19	1.32	2.57	9.28
XLE State Street Energy Select Sector SPDR ETF	54	1.19	1.58	1.23	1.60	4.21
UUP Invesco DB US Dollar Index Bullish Fund	14	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
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	78	1.67	2.18	1.29	2.69	9.12
TLT iShares 20+ Year Treasury Bond ETF	10	-0.07	-0.01	1.00	-0.09	-0.19
IEF iShares 7-10 Year Treasury Bond ETF	32	0.72	1.06	1.12	1.16	2.87

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.

Forever v4 (to analyze) Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 2.44
5-Year: 2.17
All Time: 1.56

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 0.98 to 1.66, this portfolio's current Sharpe ratio is in the top 25%. This signifies superior risk-adjusted performance, meaning the portfolio is delivering strong returns for the level of risk taken compared to most others.

The chart below shows the rolling Sharpe ratio of Forever v4 (to analyze) 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

Forever v4 (to analyze) provided a 2.27% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.27%	2.37%	3.89%	7.74%	8.01%	3.93%	2.91%	1.99%	1.99%	2.31%	1.47%	2.42%
Portfolio components:
XLK State Street Technology Select Sector SPDR ETF	0.56%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%
XLP State Street Consumer Staples Select Sector SPDR ETF	2.66%	2.75%	2.77%	2.63%	2.47%	2.28%	2.50%	2.57%	3.04%	2.62%	2.53%	2.52%
XLV State Street Health Care Select Sector SPDR ETF	1.71%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%
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%
XLE State Street Energy Select Sector SPDR ETF	2.52%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%
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%
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	2.95%	3.68%	5.92%	3.46%	33.49%	19.26%	0.20%	0.93%	0.68%	0.00%	0.00%	0.00%
TLT iShares 20+ Year Treasury Bond ETF	4.51%	4.43%	4.30%	3.38%	2.67%	1.50%	1.50%	2.27%	2.63%	2.43%	2.60%	2.61%
IEF iShares 7-10 Year Treasury Bond ETF	3.84%	3.77%	3.62%	2.91%	1.96%	0.83%	1.08%	2.08%	2.24%	1.82%	1.81%	1.90%

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 Forever v4 (to analyze). 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 Forever v4 (to analyze) was 11.81%, occurring on Mar 22, 2020. Recovery took 157 trading sessions.

The current Forever v4 (to analyze) drawdown is 0.55%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-11.81%	Jan 19, 2020	64	Mar 22, 2020	157	Aug 26, 2020	221
-9%	Jun 8, 2022	117	Oct 2, 2022	183	Apr 3, 2023	300
-6.88%	May 22, 2018	218	Dec 25, 2018	177	Jun 20, 2019	395
-5.6%	Apr 3, 2025	6	Apr 8, 2025	37	May 15, 2025	43
-3.35%	Sep 3, 2020	58	Oct 30, 2020	34	Dec 3, 2020	92

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 18 assets, with an effective number of assets of 13.71, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

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	AQMNX	BTC-USD	GLD	TLT	IEF	QSPIX	QMNNX	SDCI	UUP	XLP	BTAL	XLE	XLV	QLENX	XLK	CMNIX	EEM	EFA	Portfolio
Benchmark	1.00	-0.05	0.27	0.07	-0.08	-0.07	-0.11	-0.08	0.21	-0.22	0.51	-0.57	0.44	0.67	0.44	0.90	0.79	0.68	0.79	0.66
AQMNX	-0.05	1.00	0.02	0.01	-0.20	-0.23	0.23	0.24	0.08	0.15	-0.10	0.07	0.03	-0.08	0.18	-0.01	-0.06	-0.02	-0.03	0.19
BTC-USD	0.27	0.02	1.00	0.11	-0.01	-0.00	-0.09	-0.06	0.07	-0.14	0.07	-0.20	0.09	0.12	0.06	0.21	0.17	0.21	0.22	0.32
GLD	0.07	0.01	0.11	1.00	0.24	0.31	-0.12	-0.05	0.29	-0.41	0.09	-0.03	0.08	0.08	0.03	0.05	0.07	0.22	0.22	0.34
TLT	-0.08	-0.20	-0.01	0.24	1.00	0.90	-0.16	-0.16	-0.11	-0.16	0.07	0.10	-0.21	0.01	-0.19	-0.05	-0.07	-0.07	-0.04	0.06
IEF	-0.07	-0.23	-0.00	0.31	0.90	1.00	-0.18	-0.17	-0.10	-0.22	0.09	0.09	-0.20	0.02	-0.19	-0.04	-0.06	-0.06	-0.01	0.07
QSPIX	-0.11	0.23	-0.09	-0.12	-0.16	-0.18	1.00	0.62	0.10	0.11	0.00	0.17	0.11	-0.02	0.50	-0.13	-0.06	-0.10	-0.04	0.25
QMNNX	-0.08	0.24	-0.06	-0.05	-0.16	-0.17	0.62	1.00	0.07	0.10	-0.03	0.13	0.13	-0.05	0.74	-0.09	-0.05	-0.09	-0.04	0.28
SDCI	0.21	0.08	0.07	0.29	-0.11	-0.10	0.10	0.07	1.00	-0.21	0.08	-0.18	0.44	0.08	0.22	0.15	0.18	0.28	0.27	0.52
UUP	-0.22	0.15	-0.14	-0.41	-0.16	-0.22	0.11	0.10	-0.21	1.00	-0.17	0.15	-0.10	-0.18	-0.09	-0.14	-0.17	-0.35	-0.44	-0.27
XLP	0.51	-0.10	0.07	0.09	0.07	0.09	0.00	-0.03	0.08	-0.17	1.00	-0.04	0.23	0.54	0.24	0.29	0.38	0.26	0.42	0.41
BTAL	-0.57	0.07	-0.20	-0.03	0.10	0.09	0.17	0.13	-0.18	0.15	-0.04	1.00	-0.37	-0.21	-0.18	-0.46	-0.46	-0.48	-0.48	-0.28
XLE	0.44	0.03	0.09	0.08	-0.21	-0.20	0.11	0.13	0.44	-0.10	0.23	-0.37	1.00	0.27	0.36	0.24	0.38	0.37	0.42	0.49
XLV	0.67	-0.08	0.12	0.08	0.01	0.02	-0.02	-0.05	0.08	-0.18	0.54	-0.21	0.27	1.00	0.29	0.46	0.51	0.39	0.55	0.46
QLENX	0.44	0.18	0.06	0.03	-0.19	-0.19	0.50	0.74	0.22	-0.09	0.24	-0.18	0.36	0.29	1.00	0.33	0.32	0.30	0.41	0.63
XLK	0.90	-0.01	0.21	0.05	-0.05	-0.04	-0.13	-0.09	0.15	-0.14	0.29	-0.46	0.24	0.46	0.33	1.00	0.64	0.58	0.61	0.51
CMNIX	0.79	-0.06	0.17	0.07	-0.07	-0.06	-0.06	-0.05	0.18	-0.17	0.38	-0.46	0.38	0.51	0.32	0.64	1.00	0.51	0.60	0.50
EEM	0.68	-0.02	0.21	0.22	-0.07	-0.06	-0.10	-0.09	0.28	-0.35	0.26	-0.48	0.37	0.39	0.30	0.58	0.51	1.00	0.73	0.55
EFA	0.79	-0.03	0.22	0.22	-0.04	-0.01	-0.04	-0.04	0.27	-0.44	0.42	-0.48	0.42	0.55	0.41	0.61	0.60	0.73	1.00	0.63
Portfolio	0.66	0.19	0.32	0.34	0.06	0.07	0.25	0.28	0.52	-0.27	0.41	-0.28	0.49	0.46	0.63	0.51	0.50	0.55	0.63	1.00

The correlation results are calculated based on daily price changes starting from May 4, 2018

Forever v4 (to analyze)

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Benchmark Metrics

Expense Ratio

Top 10 holdings

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