Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
^GSPC S&P 500 Index | 70% | |
BTC-USD Bitcoin | 15% | |
VGLT Vanguard Long-Term Treasury ETF | Government Bonds, Long-Term Bond | 15% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Graham's Bitcoin Portfolio, 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 Jul 18, 2012, corresponding to the inception date of BTC-USD
Returns By Period
As of Apr 2, 2026, the Graham's Bitcoin Portfolio returned -6.22% Year-To-Date and 23.53% of annualized return in the last 10 years.
| 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 Graham's Bitcoin Portfolio | -0.15% | -3.19% | -6.22% | -9.11% | 8.81% | 18.05% | 9.24% | 23.53% |
| Portfolio components: | ||||||||
^GSPC S&P 500 Index | 0.11% | -3.43% | -3.84% | -1.98% | 16.08% | 16.86% | 10.37% | 12.29% |
VGLT Vanguard Long-Term Treasury ETF | 0.49% | -2.51% | 0.35% | -0.58% | 0.18% | -1.61% | -4.79% | -0.82% |
BTC-USD Bitcoin | -1.99% | -2.31% | -23.70% | -44.66% | -19.07% | 33.89% | 3.18% | 66.03% |
Monthly Returns
Based on dividend-adjusted daily data since Jul 19, 2012, Graham's Bitcoin Portfolio's average daily return is +0.08%, while the average monthly return is +2.57%. At this rate, your investment would double in approximately 2.3 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2013 with a return of +95.9%, while the worst month was Dec 2013 at -22.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, Graham's Bitcoin Portfolio closed higher 54% of trading days. The best single day was Nov 18, 2013 with a return of +18.4%, while the worst single day was Mar 12, 2020 at -13.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.58% | -2.00% | -4.07% | 0.33% | -6.22% | ||||||||
| 2025 | 3.44% | -3.08% | -4.49% | 1.43% | 5.65% | 4.23% | 2.57% | 0.37% | 3.72% | 1.19% | -2.33% | -0.75% | 12.03% |
| 2024 | 0.94% | 9.87% | 5.30% | -6.07% | 5.41% | 1.71% | 1.79% | 0.53% | 2.79% | 0.10% | 10.28% | -3.10% | 32.33% |
| 2023 | 11.36% | -2.41% | 7.42% | 1.51% | -1.29% | 6.31% | 1.25% | -3.26% | -4.08% | 2.01% | 8.94% | 6.38% | 38.11% |
| 2022 | -6.72% | -0.88% | 2.60% | -10.11% | -2.42% | -10.67% | 9.25% | -5.83% | -8.22% | 5.62% | 2.31% | -5.13% | -28.05% |
| 2021 | 0.84% | 7.19% | 8.67% | 3.76% | -4.66% | 1.59% | 4.84% | 4.19% | -4.99% | 11.39% | -1.61% | -0.89% | 33.07% |
Benchmark Metrics
Graham's Bitcoin Portfolio has an annualized alpha of 17.14%, beta of 0.76, and R² of 0.38 versus S&P 500 Index. Calculated based on daily prices since July 19, 2012.
- This portfolio captured 147.58% of S&P 500 Index gains but only 84.09% of its losses — a favorable profile for investors.
- R² of 0.38 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
- 17.14%
- Beta
- 0.76
- R²
- 0.38
- Upside Capture
- 147.58%
- Downside Capture
- 84.09%
Expense Ratio
Graham's Bitcoin Portfolio has an expense ratio of 0.00%, which is considered low. 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
Graham's Bitcoin Portfolio ranks 7 for risk / return — in the bottom 7% of portfolios on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 0.88 | -0.35 |
Sortino ratioReturn per unit of downside risk | 0.90 | 1.37 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.21 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | -0.53 | 1.39 | -1.92 |
Martin ratioReturn relative to average drawdown | -1.42 | 6.43 | -7.85 |
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 | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 58 | 0.88 | 1.37 | 1.21 | 1.39 | 6.43 |
VGLT Vanguard Long-Term Treasury ETF | 11 | 0.02 | 0.09 | 1.01 | 0.01 | 0.02 |
BTC-USD Bitcoin | 39 | -0.43 | -0.36 | 0.96 | -1.14 | -2.03 |
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Dividends
Dividend yield
Graham's Bitcoin Portfolio provided a 0.68% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 0.68% | 0.67% | 0.65% | 0.50% | 0.43% | 0.27% | 0.32% | 0.37% | 0.41% | 0.38% | 0.40% | 0.48% |
| Portfolio components: | ||||||||||||
^GSPC S&P 500 Index | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.52% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
BTC-USD Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 Graham's Bitcoin Portfolio. 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 Graham's Bitcoin Portfolio was 34.44%, occurring on Oct 15, 2022. Recovery took 495 trading sessions.
The current Graham's Bitcoin Portfolio drawdown is 9.95%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -34.44% | Nov 9, 2021 | 341 | Oct 15, 2022 | 495 | Feb 22, 2024 | 836 |
| -33.49% | Dec 17, 2017 | 374 | Dec 25, 2018 | 182 | Jun 25, 2019 | 556 |
| -33.01% | Dec 5, 2013 | 14 | Dec 18, 2013 | 1091 | Dec 13, 2016 | 1105 |
| -28.27% | Feb 15, 2020 | 33 | Mar 18, 2020 | 131 | Jul 27, 2020 | 164 |
| -21.16% | Apr 10, 2013 | 7 | Apr 16, 2013 | 189 | Oct 23, 2013 | 196 |
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 3 assets, with an effective number of assets of 1.87, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.
Asset Correlations Table
| Benchmark | VGLT | BTC-USD | ^GSPC | Portfolio | |
|---|---|---|---|---|---|
| Benchmark | 1.00 | -0.18 | 0.15 | 1.00 | 0.70 |
| VGLT | -0.18 | 1.00 | -0.01 | -0.16 | -0.00 |
| BTC-USD | 0.15 | -0.01 | 1.00 | 0.12 | 0.76 |
| ^GSPC | 1.00 | -0.16 | 0.12 | 1.00 | 0.62 |
| Portfolio | 0.70 | -0.00 | 0.76 | 0.62 | 1.00 |