…HI.beta.TEST#1

Asset Allocation

Position	Category/Sector	Target Weight
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	Financial Services	70%
TIP iShares TIPS Bond ETF	Inflation-Protected Bonds	15%
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	Leveraged Equities	15%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Portfolio Optimizer

Find the right asset allocation for …HI.beta.TEST#1

Add portfolio to the optimizer to find optimal allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in …HI.beta.TEST#1, 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 never rebalanced.

Loading charts...

Returns By Period

Position	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.30%	0.09%	8.18%	8.17%	23.42%	19.88%	11.91%	13.45%
Portfolio …HI.beta.TEST#1	1.34%	-0.61%	9.85%	4.15%	25.57%	30.45%	15.19%	—
Portfolio components:
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	-0.20%	0.89%	5.95%	6.77%	18.79%	15.14%	6.96%	9.16%
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	2.55%	-1.56%	13.62%	2.77%	33.20%	54.61%	27.19%	—
TIP iShares TIPS Bond ETF	-0.11%	-0.90%	0.95%	0.97%	4.81%	3.70%	0.88%	2.45%

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

Monthly Returns

Based on dividend-adjusted daily data since Aug 2, 2018, …HI.beta.TEST#1's average daily return is +0.08%, while the average monthly return is +1.57%. At this rate, an investment would double in approximately 3.7 years.

Historically, 58% of months were positive and 42% were negative. The best month was Apr 2026 with a return of +20.8%, while the worst month was Apr 2022 at -15.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.

On a daily basis, …HI.beta.TEST#1 closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +16.9%, while the worst single day was Mar 12, 2020 at -14.0%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	-2.54%	-5.91%	-7.13%	20.81%	16.04%	-7.99%							9.85%
2025	3.07%	-6.26%	-13.02%	4.67%	13.84%	10.13%	1.16%	1.26%	6.83%	6.11%	-2.50%	-6.19%	17.13%
2024	3.00%	10.19%	0.78%	-3.36%	7.07%	11.19%	-2.21%	-0.60%	3.02%	1.49%	8.88%	5.73%	53.98%
2023	12.11%	1.22%	4.74%	-1.71%	9.11%	8.05%	4.70%	-4.01%	-7.35%	-4.21%	15.90%	4.12%	48.24%
2022	-9.67%	-5.45%	2.94%	-15.04%	-1.91%	-6.80%	13.13%	-3.07%	-12.36%	3.91%	-0.28%	-9.06%	-38.15%
2021	-0.06%	4.38%	-1.87%	5.24%	-0.77%	7.88%	-0.53%	2.75%	-4.95%	9.85%	-1.48%	-0.68%	20.43%

Benchmark Metrics

…HI.beta.TEST#1 has an annualized alpha of 2.50%, beta of 1.22, and R2 of 0.71 versus S&P 500 Index. Calculated based on daily prices since August 02, 2018.

This portfolio captured 138.13% of S&P 500 Index gains and 120.34% of its losses - amplifying both gains and losses, but participating more in upside than downside.
This portfolio generated an annualized alpha of 2.50% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.

Alpha: 2.50%

Beta: 1.22

R²: 0.71

Upside Capture: 138.13%

Downside Capture: 120.34%

Expense Ratio

…HI.beta.TEST#1 has an expense ratio of 0.17%, 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.

FNGO

MicroSectors FANG+ Index 2X Leveraged ETN

TIP

iShares TIPS Bond ETF

Return for Risk

Risk / Return Rank

…HI.beta.TEST#1 ranks 12 for risk / return — in the bottom 12% 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

The table below presents risk-adjusted performance metrics for …HI.beta.TEST#1 and compares them with S&P 500 Index.

	Portfolio	Benchmark	Difference
Sharpe ratioReturn per unit of total volatility	0.99	1.94	-0.95
Sortino ratioReturn per unit of downside risk	1.43	2.63	-1.19
Omega ratioGain probability vs. loss probability	1.18	1.35	-0.17
Calmar ratioReturn relative to maximum drawdown	0.94	2.59	-1.65
Martin ratioReturn relative to average drawdown	2.74	11.84	-9.10
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.

Position	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	80	1.54	2.20	1.28	1.83	9.34
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	23	0.81	1.29	1.16	0.78	2.04
TIP iShares TIPS Bond ETF	48	1.43	2.21	1.26	2.45	7.37

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.

…HI.beta.TEST#1 Sharpe ratios as of Jun 9, 2026 (values are recalculated daily):

1-Year: 0.99
5-Year: 0.53
All Time: 0.61

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 1.60 to 2.46, 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 …HI.beta.TEST#1 compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading charts...

Dividends

Dividend yield

…HI.beta.TEST#1 provided a 6.24% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	6.24%	6.33%	6.10%	6.87%	8.44%	6.20%	6.24%	6.49%	7.31%	6.37%	6.49%	6.13%
Portfolio components:
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund	8.11%	8.30%	8.18%	9.24%	10.57%	7.94%	8.66%	8.89%	9.86%	8.65%	8.96%	8.69%
FNGO MicroSectors FANG+ Index 2X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TIP iShares TIPS Bond ETF	3.78%	3.46%	2.52%	2.73%	6.96%	4.28%	1.17%	1.75%	2.71%	2.07%	1.48%	0.34%

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 charts...

Worst Drawdowns

The table below displays the maximum drawdowns of the …HI.beta.TEST#1. 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 …HI.beta.TEST#1 was 43.35%, occurring on Dec 28, 2022. Recovery took 294 trading sessions.

The current …HI.beta.TEST#1 drawdown is 9.52%.

Related event	Drawdown	Fall	Recovery	Underwater
Bear market2022	-43.35%Dec 2022	1y 1mo	1y 2mo	2y 3moNov 2021 - Mar 2024
COVID crash2020	-39.21%Mar 2020	1mo 2d	3mo 15d	4mo 17dFeb 2020 - Jul 2020
2025 selloff2025	-32.78%Apr 2025	1mo 19d	2mo 19d	4mo 8dFeb 2025 - Jun 2025
2026 bear market2026	-27.42%Mar 2026	5mo 1d	1mo 12d	6mo 13dOct 2025 - May 2026
Rate-hike selloffLate 2018	-22.64%Dec 2018	3mo 11d	4mo	7mo 11dSep 2018 - Apr 2019

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading charts...

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. Your allocation shows noticeable concentration: a few holdings carry significantly more weight than the rest. Rebalancing toward more even weights — or adding less correlated assets — could reduce risk.

Diversification Ratio

	1Y	3Y	5Y	All Time
Diversification Ratio	1.11	1.11	1.12	1.13

The portfolio has a diversification ratio of 1.13, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.

…HI.beta.TEST#1 correlation to the S&P 500 Index

…HI.beta.TEST#1 has a 0.82 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 2, 2018	0.81

Benchmark Correlations

Correlation vs. S&P 500 Index. FNGO has the highest benchmark correlation at 0.77, while TIP has the lowest at 0.10.

TIP

0.10

ETV

0.72

FNGO

0.77

Portfolio Correlations

Correlation vs. …HI.beta.TEST#1. FNGO has the highest portfolio correlation at 0.92, while TIP has the lowest at 0.11.

TIP

0.11

ETV

0.81

FNGO

0.92

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	TIP	ETV	FNGO
TIP	1.00	0.10	0.07
ETV	0.10	1.00	0.62
FNGO	0.07	0.62	1.00

The correlation results are calculated based on daily price changes starting from Aug 2, 2018

Diversification Analysis

Find what …HI.beta.TEST#1 is missing

See which holdings overlap, where …HI.beta.TEST#1 is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification