Dividend Kings

Asset Allocation

Position	Category/Sector	Target Weight
ABBV AbbVie Inc.	Healthcare	2.13%
ABM ABM Industries Incorporated	Industrials	2.13%
ABT Abbott Laboratories	Healthcare	2.13%
AWR American States Water Company	Utilities	2.13%
BDX Becton, Dickinson and Company	Healthcare	2.13%
BKH Black Hills Corporation	Utilities	2.13%
CBSH Commerce Bancshares, Inc.	Financial Services	2.13%
CDUAF Canadian Utilities Limited	Utilities	2.13%
CINF Cincinnati Financial Corporation	Financial Services	2.13%
CL Colgate-Palmolive Company	Consumer Defensive	2.13%
CWT California Water Service Group	Utilities	2.13%
DOV Dover Corporation	Industrials	2.13%
EMR Emerson Electric Co.	Industrials	2.13%
FMCB Farmers & Merchants Bancorp	Financial Services	2.13%
FRT Federal Realty Investment Trust	Real Estate	2.13%
FUL H.B. Fuller Company	Basic Materials	2.13%
GPC Genuine Parts Company	Consumer Cyclical	2.13%
GRC The Gorman-Rupp Company	Industrials	2.13%
GWW W.W. Grainger, Inc.	Industrials	2.13%
HRL Hormel Foods Corporation	Consumer Defensive	2.13%
HTO H2O America	Utilities	2.13%
ITW Illinois Tool Works Inc.	Industrials	2.13%
JNJ Johnson & Johnson	Healthcare	2.13%
KMB Kimberly-Clark Corporation	Consumer Defensive	2.13%
KO The Coca-Cola Company	Consumer Defensive	2.13%
LEG Leggett & Platt, Incorporated	Consumer Cyclical	2.13%
LOW Lowe's Companies, Inc.	Consumer Cyclical	2.13%
MMM 3M Company	Industrials	2.13%
MO Altria Group, Inc.	Consumer Defensive	2.13%
MSA MSA Safety Incorporated	Industrials	2.13%
MSEX Middlesex Water Company	Utilities	2.13%
MZTI The Marzetti Company	Consumer Defensive	2.13%
NDSN Nordson Corporation	Industrials	2.13%
NFG National Fuel Gas Company	Energy	2.13%
NWN Northwest Natural Holding Company	Utilities	2.13%
PEP PepsiCo, Inc.	Consumer Defensive	2.13%
PG The Procter & Gamble Company	Consumer Defensive	2.13%
PH Parker-Hannifin Corporation	Industrials	2.13%
PPG PPG Industries, Inc.	Basic Materials	2.13%
SCL Stepan Company	Basic Materials	2.13%
SWK Stanley Black & Decker, Inc.	Industrials	2.13%
SYY Sysco Corporation	Consumer Defensive	2.13%
TGT Target Corporation	Consumer Defensive	2.13%
TNC Tennant Company	Industrials	2.13%
TR Tootsie Roll Industries, Inc.	Consumer Defensive	2.13%
UVV Universal Corporation	Consumer Defensive	2.13%
VFC V.F. Corporation	Consumer Cyclical	2.13%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Dividend Kings, 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.

Loading graphics...

The earliest data available for this chart is Jan 2, 2013, corresponding to the inception date of ABBV

Returns By Period

As of Apr 2, 2026, the Dividend Kings returned 3.97% Year-To-Date and 8.98% 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 Dividend Kings	-0.17%	-5.58%	3.97%	4.77%	8.11%	5.47%	4.23%	8.98%
Portfolio components:
MO Altria Group, Inc.	0.43%	-2.94%	15.96%	3.55%	23.23%	22.72%	13.73%	7.41%
VFC V.F. Corporation	-0.30%	-9.75%	-6.20%	10.74%	5.33%	-6.60%	-24.16%	-9.34%
UVV Universal Corporation	0.54%	-1.00%	1.22%	-2.96%	0.38%	5.85%	3.80%	4.77%
MMM 3M Company	-0.54%	-8.84%	-9.36%	-8.22%	-0.42%	22.35%	1.44%	3.72%
CDUAF Canadian Utilities Limited	0.00%	0.03%	14.28%	29.83%	42.09%	13.99%	11.22%	7.53%
LEG Leggett & Platt, Incorporated	-1.52%	-13.67%	-11.48%	10.76%	19.06%	-30.20%	-23.89%	-11.54%
ABBV AbbVie Inc.	-2.86%	-10.70%	-7.86%	-10.37%	5.19%	13.21%	18.43%	18.22%
FRT Federal Realty Investment Trust	0.69%	-2.38%	8.30%	10.25%	12.72%	7.21%	4.84%	-0.03%
NWN Northwest Natural Holding Company	1.79%	4.11%	18.18%	26.23%	32.43%	10.25%	5.10%	4.20%
KMB Kimberly-Clark Corporation	-1.48%	-7.00%	-3.54%	-19.67%	-29.74%	-7.18%	-3.30%	-0.03%

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

Monthly Returns

Based on dividend-adjusted daily data since Jan 3, 2013, Dividend Kings's average daily return is +0.04%, while the average monthly return is +0.89%. At this rate, your investment would double in approximately 6.5 years.

Historically, 63% of months were positive and 38% were negative. The best month was Oct 2022 with a return of +11.0%, while the worst month was Mar 2020 at -11.1%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Dividend Kings closed higher 54% of trading days. The best single day was Mar 17, 2020 with a return of +9.6%, while the worst single day was Mar 16, 2020 at -9.6%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.97%	4.92%	-6.64%	0.17%									3.97%
2025	2.51%	1.09%	-2.86%	-2.25%	2.48%	-0.52%	0.74%	3.98%	-0.66%	-3.15%	3.93%	0.14%	5.22%
2024	-2.63%	3.21%	3.98%	-3.45%	-0.61%	-0.51%	8.75%	1.17%	1.06%	-3.28%	5.38%	-7.38%	4.70%
2023	2.38%	-2.33%	-0.31%	0.52%	-5.89%	6.24%	2.09%	-3.06%	-6.03%	-2.60%	6.57%	5.91%	2.42%
2022	-4.38%	-2.05%	1.37%	-2.97%	0.09%	-5.34%	5.59%	-2.87%	-9.06%	11.00%	6.65%	-3.76%	-7.25%
2021	-1.51%	2.48%	7.41%	3.42%	2.10%	-1.60%	2.33%	0.58%	-5.61%	5.35%	-1.85%	8.58%	22.87%

Benchmark Metrics

Dividend Kings has an annualized alpha of 1.13%, beta of 0.78, and R² of 0.70 versus S&P 500 Index. Calculated based on daily prices since January 03, 2013.

This portfolio participated in 87.83% of S&P 500 Index downside but only 83.54% of its upside — more exposed to losses than it benefited from rallies.

Alpha: 1.13%

Beta: 0.78

R²: 0.70

Upside Capture: 83.54%

Downside Capture: 87.83%

Expense Ratio

Dividend Kings 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

Dividend Kings ranks 11 for risk / return — in the bottom 11% 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.

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	0.52	0.88	-0.36
Sortino ratio Return per unit of downside risk	0.87	1.37	-0.50
Omega ratio Gain probability vs. loss probability	1.10	1.21	-0.10
Calmar ratio Return relative to maximum drawdown	0.79	1.39	-0.60
Martin ratio Return relative to average drawdown	2.49	6.43	-3.95
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
MO Altria Group, Inc.	68	1.12	1.53	1.22	1.20	3.11
VFC V.F. Corporation	43	0.08	0.60	1.09	0.18	0.41
UVV Universal Corporation	37	0.01	0.21	1.03	-0.02	-0.02
MMM 3M Company	36	-0.01	0.20	1.03	-0.02	-0.06
CDUAF Canadian Utilities Limited	93	2.41	3.29	1.46	4.89	17.21
LEG Leggett & Platt, Incorporated	56	0.33	1.04	1.13	1.01	2.21
ABBV AbbVie Inc.	43	0.19	0.44	1.06	0.28	0.62
FRT Federal Realty Investment Trust	59	0.59	0.99	1.12	0.97	3.83
NWN Northwest Natural Holding Company	83	1.70	2.23	1.30	3.34	6.76
KMB Kimberly-Clark Corporation	4	-1.19	-1.53	0.78	-0.97	-1.55

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.

Dividend Kings Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: 0.52
5-Year: 0.29
10-Year: 0.54
All Time: 0.66

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 places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

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

Loading graphics...

Dividends

Dividend yield

Dividend Kings provided a 2.79% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.79%	2.79%	3.03%	2.87%	2.68%	2.22%	2.46%	2.28%	2.67%	2.24%	2.34%	2.63%
Portfolio components:
MO Altria Group, Inc.	6.39%	7.21%	7.65%	9.52%	8.05%	7.43%	8.29%	6.57%	6.07%	3.56%	3.48%	3.73%
VFC V.F. Corporation	2.13%	1.99%	1.68%	5.27%	7.28%	2.69%	2.26%	1.91%	2.65%	2.32%	2.87%	2.14%
UVV Universal Corporation	6.22%	6.18%	5.87%	4.72%	5.95%	5.64%	6.30%	5.29%	4.80%	4.11%	3.33%	3.71%
MMM 3M Company	2.06%	1.82%	16.27%	5.49%	4.97%	3.33%	3.36%	3.26%	2.86%	2.00%	2.49%	2.72%
CDUAF Canadian Utilities Limited	3.78%	4.21%	5.47%	6.05%	5.03%	4.85%	5.32%	4.24%	4.49%	4.82%	4.82%	5.11%
LEG Leggett & Platt, Incorporated	2.06%	1.82%	6.35%	6.95%	5.40%	4.03%	3.61%	3.11%	4.19%	2.98%	2.74%	3.00%
ABBV AbbVie Inc.	3.18%	2.87%	3.49%	3.82%	3.49%	3.84%	4.41%	4.83%	3.89%	2.65%	3.64%	3.41%
FRT Federal Realty Investment Trust	4.20%	4.39%	2.93%	4.21%	4.26%	3.12%	4.96%	3.22%	3.42%	2.98%	2.70%	2.48%
NWN Northwest Natural Holding Company	3.59%	4.20%	4.94%	4.99%	4.06%	3.94%	4.16%	2.58%	3.13%	3.16%	3.13%	3.68%
KMB Kimberly-Clark Corporation	5.26%	5.00%	3.72%	3.88%	3.42%	3.19%	3.17%	3.00%	3.51%	3.22%	3.22%	2.77%

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.

Loading graphics...

Worst Drawdowns

The table below displays the maximum drawdowns of the Dividend Kings. 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 Dividend Kings was 33.07%, occurring on Mar 23, 2020. Recovery took 141 trading sessions.

The current Dividend Kings drawdown is 7.94%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-33.07%	Jan 21, 2020	44	Mar 23, 2020	141	Oct 12, 2020	185
-19%	Jan 5, 2022	186	Sep 30, 2022	449	Jul 17, 2024	635
-16.58%	Nov 26, 2024	90	Apr 8, 2025	190	Jan 9, 2026	280
-13.11%	Sep 24, 2018	64	Dec 24, 2018	36	Feb 15, 2019	100
-11.01%	Feb 17, 2026	24	Mar 20, 2026	—	—	—

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading graphics...

Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 47 assets, with an effective number of assets of 47.00, 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	FMCB	CDUAF	ABBV	TR	HRL	TGT	MO	UVV	KMB	MSEX	JNJ	HTO	BDX	NWN	ABT	NFG	MZTI	VFC	AWR	PG	CL	CWT	PEP	KO	FRT	SYY	BKH	GWW	LOW	TNC	CBSH	ABM	GRC	MSA	LEG	SCL	CINF	EMR	PH	SWK	MMM	PPG	NDSN	FUL	DOV	GPC	ITW	Portfolio
Benchmark	1.00	0.03	0.20	0.42	0.32	0.28	0.45	0.33	0.34	0.32	0.33	0.41	0.31	0.49	0.31	0.54	0.42	0.37	0.53	0.32	0.39	0.37	0.33	0.42	0.42	0.45	0.46	0.38	0.56	0.58	0.52	0.55	0.50	0.55	0.56	0.55	0.52	0.55	0.68	0.69	0.64	0.60	0.62	0.66	0.60	0.66	0.57	0.66	0.76
FMCB	0.03	1.00	0.05	0.02	0.03	0.03	0.04	-0.00	0.02	0.02	0.04	0.01	0.05	0.03	0.05	0.02	0.01	0.03	0.05	0.03	-0.00	0.02	0.04	0.03	0.03	0.05	0.04	0.04	0.03	0.02	0.01	0.04	0.05	0.03	0.03	0.02	0.05	0.04	0.02	0.03	0.03	0.04	0.03	0.05	0.04	0.03	0.04	0.04	0.09
CDUAF	0.20	0.05	1.00	0.16	0.12	0.14	0.11	0.19	0.17	0.17	0.17	0.17	0.16	0.15	0.21	0.17	0.21	0.13	0.14	0.17	0.17	0.19	0.20	0.18	0.22	0.21	0.17	0.25	0.12	0.13	0.15	0.14	0.16	0.13	0.14	0.14	0.14	0.16	0.16	0.16	0.14	0.16	0.17	0.14	0.18	0.18	0.17	0.18	0.27
ABBV	0.42	0.02	0.16	1.00	0.19	0.22	0.24	0.28	0.22	0.29	0.20	0.46	0.21	0.40	0.20	0.43	0.23	0.25	0.22	0.22	0.32	0.32	0.23	0.33	0.32	0.27	0.27	0.25	0.25	0.27	0.22	0.25	0.27	0.26	0.27	0.27	0.26	0.31	0.30	0.28	0.28	0.33	0.31	0.30	0.30	0.28	0.31	0.35	0.45
TR	0.32	0.03	0.12	0.19	1.00	0.40	0.23	0.29	0.33	0.36	0.35	0.28	0.36	0.26	0.36	0.26	0.29	0.43	0.22	0.37	0.36	0.37	0.37	0.37	0.35	0.30	0.33	0.36	0.26	0.25	0.31	0.30	0.32	0.32	0.32	0.28	0.35	0.32	0.23	0.24	0.23	0.28	0.28	0.29	0.30	0.26	0.32	0.30	0.49
HRL	0.28	0.03	0.14	0.22	0.40	1.00	0.26	0.39	0.29	0.49	0.30	0.36	0.31	0.34	0.33	0.30	0.29	0.41	0.22	0.34	0.45	0.49	0.34	0.51	0.43	0.31	0.37	0.36	0.25	0.27	0.21	0.23	0.29	0.22	0.23	0.28	0.29	0.32	0.19	0.20	0.26	0.29	0.29	0.26	0.27	0.24	0.34	0.31	0.49
TGT	0.45	0.04	0.11	0.24	0.23	0.26	1.00	0.24	0.26	0.24	0.21	0.26	0.20	0.28	0.20	0.29	0.24	0.28	0.44	0.21	0.27	0.26	0.21	0.29	0.26	0.32	0.33	0.24	0.35	0.47	0.33	0.35	0.32	0.32	0.33	0.40	0.34	0.33	0.36	0.36	0.41	0.37	0.37	0.38	0.37	0.37	0.44	0.40	0.52
MO	0.33	-0.00	0.19	0.28	0.29	0.39	0.24	1.00	0.44	0.42	0.24	0.37	0.27	0.25	0.32	0.29	0.33	0.33	0.23	0.28	0.44	0.45	0.28	0.46	0.48	0.35	0.40	0.37	0.25	0.28	0.23	0.25	0.30	0.22	0.23	0.30	0.25	0.37	0.26	0.26	0.26	0.35	0.29	0.24	0.28	0.26	0.36	0.35	0.48
UVV	0.34	0.02	0.17	0.22	0.33	0.29	0.26	0.44	1.00	0.26	0.31	0.25	0.33	0.24	0.35	0.23	0.35	0.35	0.27	0.31	0.28	0.30	0.33	0.30	0.32	0.33	0.34	0.36	0.27	0.28	0.36	0.38	0.39	0.37	0.36	0.35	0.43	0.35	0.33	0.33	0.31	0.33	0.35	0.32	0.39	0.32	0.35	0.37	0.54
KMB	0.32	0.02	0.17	0.29	0.36	0.49	0.24	0.42	0.26	1.00	0.30	0.43	0.33	0.34	0.35	0.36	0.27	0.35	0.21	0.37	0.67	0.68	0.35	0.57	0.53	0.33	0.35	0.41	0.26	0.28	0.21	0.19	0.26	0.22	0.23	0.25	0.25	0.34	0.21	0.20	0.25	0.34	0.31	0.26	0.24	0.26	0.33	0.34	0.50
MSEX	0.33	0.04	0.17	0.20	0.35	0.30	0.21	0.24	0.31	0.30	1.00	0.29	0.64	0.26	0.52	0.28	0.35	0.39	0.23	0.67	0.31	0.30	0.68	0.34	0.33	0.36	0.28	0.51	0.26	0.28	0.31	0.28	0.34	0.35	0.32	0.29	0.35	0.33	0.22	0.23	0.27	0.28	0.29	0.29	0.32	0.27	0.29	0.32	0.54
JNJ	0.41	0.01	0.17	0.46	0.28	0.36	0.26	0.37	0.25	0.43	0.29	1.00	0.30	0.46	0.31	0.50	0.27	0.30	0.22	0.33	0.48	0.46	0.33	0.48	0.45	0.29	0.31	0.36	0.29	0.30	0.24	0.27	0.26	0.25	0.28	0.27	0.27	0.37	0.29	0.26	0.29	0.41	0.35	0.31	0.30	0.30	0.36	0.40	0.51
HTO	0.31	0.05	0.16	0.21	0.36	0.31	0.20	0.27	0.33	0.33	0.64	0.30	1.00	0.27	0.53	0.27	0.37	0.39	0.20	0.70	0.34	0.33	0.69	0.37	0.36	0.37	0.28	0.53	0.23	0.27	0.31	0.30	0.34	0.32	0.32	0.28	0.36	0.33	0.23	0.23	0.25	0.28	0.28	0.29	0.32	0.27	0.29	0.32	0.54
BDX	0.49	0.03	0.15	0.40	0.26	0.34	0.28	0.25	0.24	0.34	0.26	0.46	0.27	1.00	0.26	0.56	0.25	0.31	0.29	0.29	0.36	0.37	0.30	0.39	0.36	0.29	0.31	0.32	0.33	0.34	0.30	0.30	0.31	0.31	0.36	0.33	0.33	0.37	0.36	0.35	0.39	0.40	0.40	0.40	0.37	0.37	0.36	0.44	0.54
NWN	0.31	0.05	0.21	0.20	0.36	0.33	0.20	0.32	0.35	0.35	0.52	0.31	0.53	0.26	1.00	0.26	0.48	0.39	0.23	0.57	0.35	0.35	0.57	0.38	0.39	0.45	0.34	0.65	0.24	0.26	0.29	0.31	0.38	0.32	0.29	0.31	0.34	0.38	0.25	0.24	0.26	0.32	0.28	0.26	0.31	0.27	0.32	0.33	0.55
ABT	0.54	0.02	0.17	0.43	0.26	0.30	0.29	0.29	0.23	0.36	0.28	0.50	0.27	0.56	0.26	1.00	0.26	0.27	0.30	0.30	0.40	0.40	0.30	0.40	0.38	0.29	0.32	0.30	0.34	0.38	0.28	0.30	0.30	0.30	0.35	0.32	0.30	0.37	0.35	0.34	0.38	0.40	0.40	0.39	0.34	0.38	0.35	0.43	0.54
NFG	0.42	0.01	0.21	0.23	0.29	0.29	0.24	0.33	0.35	0.27	0.35	0.27	0.37	0.25	0.48	0.26	1.00	0.31	0.29	0.38	0.29	0.30	0.40	0.29	0.33	0.40	0.34	0.51	0.34	0.28	0.35	0.38	0.39	0.35	0.34	0.36	0.38	0.39	0.39	0.38	0.33	0.35	0.35	0.36	0.37	0.39	0.38	0.39	0.56
MZTI	0.37	0.03	0.13	0.25	0.43	0.41	0.28	0.33	0.35	0.35	0.39	0.30	0.39	0.31	0.39	0.27	0.31	1.00	0.27	0.40	0.37	0.37	0.41	0.39	0.38	0.34	0.37	0.40	0.28	0.31	0.37	0.34	0.39	0.35	0.38	0.33	0.38	0.37	0.29	0.28	0.30	0.32	0.33	0.33	0.37	0.32	0.37	0.36	0.55
VFC	0.53	0.05	0.14	0.22	0.22	0.22	0.44	0.23	0.27	0.21	0.23	0.22	0.20	0.29	0.23	0.30	0.29	0.27	1.00	0.21	0.23	0.22	0.21	0.25	0.27	0.39	0.38	0.27	0.36	0.44	0.40	0.46	0.39	0.40	0.41	0.53	0.41	0.39	0.45	0.47	0.52	0.45	0.48	0.46	0.46	0.47	0.48	0.48	0.59
AWR	0.32	0.03	0.17	0.22	0.37	0.34	0.21	0.28	0.31	0.37	0.67	0.33	0.70	0.29	0.57	0.30	0.38	0.40	0.21	1.00	0.37	0.37	0.81	0.40	0.37	0.38	0.29	0.58	0.25	0.28	0.31	0.30	0.33	0.32	0.31	0.28	0.35	0.38	0.23	0.23	0.24	0.28	0.29	0.30	0.30	0.27	0.30	0.32	0.56
PG	0.39	-0.00	0.17	0.32	0.36	0.45	0.27	0.44	0.28	0.67	0.31	0.48	0.34	0.36	0.35	0.40	0.29	0.37	0.23	0.37	1.00	0.73	0.36	0.63	0.60	0.34	0.37	0.40	0.29	0.32	0.22	0.22	0.27	0.24	0.26	0.27	0.28	0.38	0.27	0.25	0.28	0.37	0.34	0.29	0.28	0.30	0.35	0.38	0.53
CL	0.37	0.02	0.19	0.32	0.37	0.49	0.26	0.45	0.30	0.68	0.30	0.46	0.33	0.37	0.35	0.40	0.30	0.37	0.22	0.37	0.73	1.00	0.36	0.63	0.60	0.34	0.40	0.41	0.30	0.31	0.23	0.21	0.28	0.23	0.27	0.27	0.28	0.38	0.25	0.25	0.29	0.36	0.34	0.28	0.28	0.29	0.35	0.38	0.53
CWT	0.33	0.04	0.20	0.23	0.37	0.34	0.21	0.28	0.33	0.35	0.68	0.33	0.69	0.30	0.57	0.30	0.40	0.41	0.21	0.81	0.36	0.36	1.00	0.39	0.38	0.40	0.29	0.57	0.25	0.27	0.32	0.30	0.35	0.35	0.34	0.30	0.37	0.37	0.23	0.24	0.27	0.29	0.30	0.31	0.33	0.28	0.30	0.33	0.58
PEP	0.42	0.03	0.18	0.33	0.37	0.51	0.29	0.46	0.30	0.57	0.34	0.48	0.37	0.39	0.38	0.40	0.29	0.39	0.25	0.40	0.63	0.63	0.39	1.00	0.69	0.36	0.43	0.43	0.30	0.33	0.24	0.21	0.29	0.24	0.27	0.28	0.27	0.37	0.26	0.24	0.29	0.36	0.35	0.30	0.28	0.29	0.37	0.39	0.55
KO	0.42	0.03	0.22	0.32	0.35	0.43	0.26	0.48	0.32	0.53	0.33	0.45	0.36	0.36	0.39	0.38	0.33	0.38	0.27	0.37	0.60	0.60	0.38	0.69	1.00	0.37	0.42	0.45	0.29	0.30	0.26	0.26	0.31	0.25	0.27	0.31	0.30	0.42	0.30	0.29	0.30	0.38	0.36	0.31	0.32	0.32	0.37	0.40	0.56
FRT	0.45	0.05	0.21	0.27	0.30	0.31	0.32	0.35	0.33	0.33	0.36	0.29	0.37	0.29	0.45	0.29	0.40	0.34	0.39	0.38	0.34	0.34	0.40	0.36	0.37	1.00	0.42	0.46	0.32	0.37	0.34	0.39	0.39	0.35	0.34	0.45	0.36	0.45	0.36	0.36	0.39	0.38	0.39	0.37	0.40	0.38	0.43	0.41	0.60
SYY	0.46	0.04	0.17	0.27	0.33	0.37	0.33	0.40	0.34	0.35	0.28	0.31	0.28	0.31	0.34	0.32	0.34	0.37	0.38	0.29	0.37	0.40	0.29	0.43	0.42	0.42	1.00	0.37	0.37	0.39	0.34	0.38	0.38	0.36	0.35	0.42	0.37	0.45	0.39	0.40	0.39	0.39	0.42	0.38	0.40	0.38	0.47	0.45	0.59
BKH	0.38	0.04	0.25	0.25	0.36	0.36	0.24	0.37	0.36	0.41	0.51	0.36	0.53	0.32	0.65	0.30	0.51	0.40	0.27	0.58	0.40	0.41	0.57	0.43	0.45	0.46	0.37	1.00	0.28	0.29	0.31	0.32	0.38	0.34	0.33	0.34	0.33	0.43	0.29	0.29	0.29	0.35	0.33	0.32	0.33	0.32	0.36	0.37	0.60
GWW	0.56	0.03	0.12	0.25	0.26	0.25	0.35	0.25	0.27	0.26	0.26	0.29	0.23	0.33	0.24	0.34	0.34	0.28	0.36	0.25	0.29	0.30	0.25	0.30	0.29	0.32	0.37	0.28	1.00	0.45	0.45	0.44	0.41	0.45	0.46	0.43	0.42	0.44	0.57	0.57	0.50	0.47	0.48	0.56	0.48	0.57	0.54	0.60	0.62
LOW	0.58	0.02	0.13	0.27	0.25	0.27	0.47	0.28	0.28	0.28	0.28	0.30	0.27	0.34	0.26	0.38	0.28	0.31	0.44	0.28	0.32	0.31	0.27	0.33	0.30	0.37	0.39	0.29	0.45	1.00	0.38	0.40	0.37	0.41	0.40	0.50	0.38	0.39	0.46	0.48	0.55	0.45	0.50	0.51	0.47	0.48	0.53	0.52	0.61
TNC	0.52	0.01	0.15	0.22	0.31	0.21	0.33	0.23	0.36	0.21	0.31	0.24	0.31	0.30	0.29	0.28	0.35	0.37	0.40	0.31	0.22	0.23	0.32	0.24	0.26	0.34	0.34	0.31	0.45	0.38	1.00	0.50	0.50	0.55	0.52	0.49	0.54	0.42	0.51	0.55	0.51	0.46	0.46	0.55	0.54	0.54	0.48	0.56	0.64
CBSH	0.55	0.04	0.14	0.25	0.30	0.23	0.35	0.25	0.38	0.19	0.28	0.27	0.30	0.30	0.31	0.30	0.38	0.34	0.46	0.30	0.22	0.21	0.30	0.21	0.26	0.39	0.38	0.32	0.44	0.40	0.50	1.00	0.50	0.49	0.50	0.50	0.53	0.55	0.52	0.54	0.49	0.47	0.47	0.52	0.54	0.53	0.50	0.52	0.64
ABM	0.50	0.05	0.16	0.27	0.32	0.29	0.32	0.30	0.39	0.26	0.34	0.26	0.34	0.31	0.38	0.30	0.39	0.39	0.39	0.33	0.27	0.28	0.35	0.29	0.31	0.39	0.38	0.38	0.41	0.37	0.50	0.50	1.00	0.48	0.47	0.47	0.48	0.45	0.46	0.47	0.46	0.44	0.44	0.48	0.53	0.46	0.47	0.49	0.65
GRC	0.55	0.03	0.13	0.26	0.32	0.22	0.32	0.22	0.37	0.22	0.35	0.25	0.32	0.31	0.32	0.30	0.35	0.35	0.40	0.32	0.24	0.23	0.35	0.24	0.25	0.35	0.36	0.34	0.45	0.41	0.55	0.49	0.48	1.00	0.53	0.46	0.54	0.42	0.53	0.56	0.52	0.46	0.48	0.54	0.54	0.54	0.48	0.57	0.66
MSA	0.56	0.03	0.14	0.27	0.32	0.23	0.33	0.23	0.36	0.23	0.32	0.28	0.32	0.36	0.29	0.35	0.34	0.38	0.41	0.31	0.26	0.27	0.34	0.27	0.27	0.34	0.35	0.33	0.46	0.40	0.52	0.50	0.47	0.53	1.00	0.46	0.52	0.45	0.52	0.54	0.50	0.45	0.50	0.55	0.54	0.53	0.48	0.55	0.66
LEG	0.55	0.02	0.14	0.27	0.28	0.28	0.40	0.30	0.35	0.25	0.29	0.27	0.28	0.33	0.31	0.32	0.36	0.33	0.53	0.28	0.27	0.27	0.30	0.28	0.31	0.45	0.42	0.34	0.43	0.50	0.49	0.50	0.47	0.46	0.46	1.00	0.50	0.45	0.51	0.54	0.59	0.50	0.56	0.54	0.57	0.53	0.57	0.55	0.68
SCL	0.52	0.05	0.14	0.26	0.35	0.29	0.34	0.25	0.43	0.25	0.35	0.27	0.36	0.33	0.34	0.30	0.38	0.38	0.41	0.35	0.28	0.28	0.37	0.27	0.30	0.36	0.37	0.33	0.42	0.38	0.54	0.53	0.48	0.54	0.52	0.50	1.00	0.45	0.50	0.51	0.50	0.48	0.54	0.54	0.62	0.52	0.48	0.55	0.68
CINF	0.55	0.04	0.16	0.31	0.32	0.32	0.33	0.37	0.35	0.34	0.33	0.37	0.33	0.37	0.38	0.37	0.39	0.37	0.39	0.38	0.38	0.38	0.37	0.37	0.42	0.45	0.45	0.43	0.44	0.39	0.42	0.55	0.45	0.42	0.45	0.45	0.45	1.00	0.47	0.48	0.45	0.48	0.47	0.44	0.46	0.49	0.50	0.51	0.66
EMR	0.68	0.02	0.16	0.30	0.23	0.19	0.36	0.26	0.33	0.21	0.22	0.29	0.23	0.36	0.25	0.35	0.39	0.29	0.45	0.23	0.27	0.25	0.23	0.26	0.30	0.36	0.39	0.29	0.57	0.46	0.51	0.52	0.46	0.53	0.52	0.51	0.50	0.47	1.00	0.74	0.61	0.58	0.58	0.63	0.58	0.71	0.55	0.68	0.68
PH	0.69	0.03	0.16	0.28	0.24	0.20	0.36	0.26	0.33	0.20	0.23	0.26	0.23	0.35	0.24	0.34	0.38	0.28	0.47	0.23	0.25	0.25	0.24	0.24	0.29	0.36	0.40	0.29	0.57	0.48	0.55	0.54	0.47	0.56	0.54	0.54	0.51	0.48	0.74	1.00	0.65	0.59	0.58	0.66	0.60	0.72	0.56	0.71	0.70
SWK	0.64	0.03	0.14	0.28	0.23	0.26	0.41	0.26	0.31	0.25	0.27	0.29	0.25	0.39	0.26	0.38	0.33	0.30	0.52	0.24	0.28	0.29	0.27	0.29	0.30	0.39	0.39	0.29	0.50	0.55	0.51	0.49	0.46	0.52	0.50	0.59	0.50	0.45	0.61	0.65	1.00	0.61	0.62	0.63	0.60	0.64	0.55	0.69	0.70
MMM	0.60	0.04	0.16	0.33	0.28	0.29	0.37	0.35	0.33	0.34	0.28	0.41	0.28	0.40	0.32	0.40	0.35	0.32	0.45	0.28	0.37	0.36	0.29	0.36	0.38	0.38	0.39	0.35	0.47	0.45	0.46	0.47	0.44	0.46	0.45	0.50	0.48	0.48	0.58	0.59	0.61	1.00	0.56	0.54	0.54	0.58	0.52	0.65	0.68
PPG	0.62	0.03	0.17	0.31	0.28	0.29	0.37	0.29	0.35	0.31	0.29	0.35	0.28	0.40	0.28	0.40	0.35	0.33	0.48	0.29	0.34	0.34	0.30	0.35	0.36	0.39	0.42	0.33	0.48	0.50	0.46	0.47	0.44	0.48	0.50	0.56	0.54	0.47	0.58	0.58	0.62	0.56	1.00	0.58	0.65	0.60	0.56	0.64	0.70
NDSN	0.66	0.05	0.14	0.30	0.29	0.26	0.38	0.24	0.32	0.26	0.29	0.31	0.29	0.40	0.26	0.39	0.36	0.33	0.46	0.30	0.29	0.28	0.31	0.30	0.31	0.37	0.38	0.32	0.56	0.51	0.55	0.52	0.48	0.54	0.55	0.54	0.54	0.44	0.63	0.66	0.63	0.54	0.58	1.00	0.60	0.65	0.56	0.67	0.71
FUL	0.60	0.04	0.18	0.30	0.30	0.27	0.37	0.28	0.39	0.24	0.32	0.30	0.32	0.37	0.31	0.34	0.37	0.37	0.46	0.30	0.28	0.28	0.33	0.28	0.32	0.40	0.40	0.33	0.48	0.47	0.54	0.54	0.53	0.54	0.54	0.57	0.62	0.46	0.58	0.60	0.60	0.54	0.65	0.60	1.00	0.58	0.54	0.62	0.72
DOV	0.66	0.03	0.18	0.28	0.26	0.24	0.37	0.26	0.32	0.26	0.27	0.30	0.27	0.37	0.27	0.38	0.39	0.32	0.47	0.27	0.30	0.29	0.28	0.29	0.32	0.38	0.38	0.32	0.57	0.48	0.54	0.53	0.46	0.54	0.53	0.53	0.52	0.49	0.71	0.72	0.64	0.58	0.60	0.65	0.58	1.00	0.56	0.71	0.71
GPC	0.57	0.04	0.17	0.31	0.32	0.34	0.44	0.36	0.35	0.33	0.29	0.36	0.29	0.36	0.32	0.35	0.38	0.37	0.48	0.30	0.35	0.35	0.30	0.37	0.37	0.43	0.47	0.36	0.54	0.53	0.48	0.50	0.47	0.48	0.48	0.57	0.48	0.50	0.55	0.56	0.55	0.52	0.56	0.56	0.54	0.56	1.00	0.62	0.71
ITW	0.66	0.04	0.18	0.35	0.30	0.31	0.40	0.35	0.37	0.34	0.32	0.40	0.32	0.44	0.33	0.43	0.39	0.36	0.48	0.32	0.38	0.38	0.33	0.39	0.40	0.41	0.45	0.37	0.60	0.52	0.56	0.52	0.49	0.57	0.55	0.55	0.55	0.51	0.68	0.71	0.69	0.65	0.64	0.67	0.62	0.71	0.62	1.00	0.78
Portfolio	0.76	0.09	0.27	0.45	0.49	0.49	0.52	0.48	0.54	0.50	0.54	0.51	0.54	0.54	0.55	0.54	0.56	0.55	0.59	0.56	0.53	0.53	0.58	0.55	0.56	0.60	0.59	0.60	0.62	0.61	0.64	0.64	0.65	0.66	0.66	0.68	0.68	0.66	0.68	0.70	0.70	0.68	0.70	0.71	0.72	0.71	0.71	0.78	1.00

The correlation results are calculated based on daily price changes starting from Jan 3, 2013

Dividend Kings

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