Longtime Investment (Mid&Small-Cap)

Asset Allocation

Position	Category/Sector	Target Weight
ANF Abercrombie & Fitch Co.	Consumer Cyclical	7.14%
CAMT Camtek Ltd	Technology	7.14%
CLS Celestica Inc.	Technology	7.14%
EME EMCOR Group, Inc.	Industrials	7.14%
FIX Comfort Systems USA, Inc.	Industrials	7.14%
IESC IES Holdings, Inc.	Industrials	7.14%
MOD Modine Manufacturing Company	Consumer Cyclical	7.14%
MUSA Murphy USA Inc.	Consumer Cyclical	7.14%
NVMI Nova Ltd	Technology	7.14%
ONTO Onto Innovation Inc.	Technology	7.14%
SPXC SPX Corporation	Industrials	7.14%
STRL Sterling Construction Company, Inc.	Industrials	7.14%
USLM United States Lime & Minerals, Inc.	Basic Materials	7.14%
WIRE Encore Wire Corporation	Industrials	7.14%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Longtime Investment (Mid&Small-Cap), 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 Aug 19, 2013, corresponding to the inception date of MUSA

Returns By Period

As of Apr 2, 2026, the Longtime Investment (Mid&Small-Cap) returned 23.36% Year-To-Date and 41.64% 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 Longtime Investment (Mid&Small-Cap)	-0.39%	2.53%	23.36%	27.72%	116.92%	83.10%	54.50%	41.64%
Portfolio components:
EME EMCOR Group, Inc.	-0.43%	2.72%	23.69%	14.65%	96.87%	66.73%	46.59%	32.35%
FIX Comfort Systems USA, Inc.	-0.79%	1.92%	51.93%	70.33%	315.21%	113.82%	80.31%	47.35%
ONTO Onto Innovation Inc.	1.80%	3.87%	36.53%	54.14%	71.83%	35.27%	25.25%	30.06%
MUSA Murphy USA Inc.	1.53%	22.54%	24.71%	27.69%	5.21%	25.25%	28.81%	23.98%
ANF Abercrombie & Fitch Co.	-2.13%	-7.02%	-26.71%	7.68%	10.62%	48.98%	21.77%	13.35%
NVMI Nova Ltd	-0.79%	3.99%	34.67%	34.42%	130.72%	62.53%	35.85%	45.35%
SPXC SPX Corporation	-2.89%	-10.15%	-1.38%	5.09%	45.47%	40.19%	27.07%	29.11%
CAMT Camtek Ltd	-0.61%	-3.00%	48.32%	34.23%	162.14%	78.27%	37.23%	55.71%
MOD Modine Manufacturing Company	-1.64%	3.30%	64.27%	48.37%	157.06%	112.24%	70.73%	35.40%
CLS Celestica Inc.	2.12%	14.75%	-0.26%	17.51%	258.03%	185.72%	102.26%	39.05%

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

Monthly Returns

Based on dividend-adjusted daily data since Aug 20, 2013, Longtime Investment (Mid&Small-Cap)'s average daily return is +0.13%, while the average monthly return is +2.70%. At this rate, your investment would double in approximately 2.2 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +23.1%, while the worst month was Mar 2020 at -22.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.

On a daily basis, Longtime Investment (Mid&Small-Cap) closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +13.5%, while the worst single day was Jan 27, 2025 at -15.3%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	12.87%	8.47%	-1.42%	2.22%									23.36%
2025	3.46%	-12.68%	-13.14%	8.75%	11.32%	13.88%	11.53%	1.82%	11.28%	6.78%	0.60%	-1.26%	44.98%
2024	6.33%	21.76%	5.48%	-0.09%	16.12%	2.16%	-0.03%	3.91%	3.58%	1.87%	15.93%	-8.41%	88.40%
2023	12.50%	4.76%	0.24%	-5.42%	14.31%	15.41%	9.69%	13.75%	-2.61%	-3.86%	11.93%	11.84%	115.61%
2022	-6.63%	-3.22%	-3.05%	-6.93%	5.74%	-9.85%	16.12%	-3.76%	-8.42%	17.39%	10.35%	-4.11%	-1.19%
2021	2.51%	11.34%	8.73%	4.84%	5.03%	-0.80%	-0.11%	0.32%	-3.10%	8.73%	4.31%	5.19%	57.06%

Benchmark Metrics

Longtime Investment (Mid&Small-Cap) has an annualized alpha of 19.83%, beta of 1.20, and R² of 0.57 versus S&P 500 Index. Calculated based on daily prices since August 20, 2013.

This portfolio captured 187.10% of S&P 500 Index gains but only 89.00% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 19.83% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.

Alpha: 19.83%

Beta: 1.20

R²: 0.57

Upside Capture: 187.10%

Downside Capture: 89.00%

Expense Ratio

Longtime Investment (Mid&Small-Cap) 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

Longtime Investment (Mid&Small-Cap) ranks 98 for risk / return — in the top 98% 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	3.25	0.88	+2.37
Sortino ratio Return per unit of downside risk	3.62	1.37	+2.25
Omega ratio Gain probability vs. loss probability	1.50	1.21	+0.30
Calmar ratio Return relative to maximum drawdown	9.32	1.39	+7.94
Martin ratio Return relative to average drawdown	31.93	6.43	+25.50
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
EME EMCOR Group, Inc.	90	2.42	2.74	1.41	4.05	10.46
FIX Comfort Systems USA, Inc.	99	5.72	5.22	1.72	24.01	81.57
ONTO Onto Innovation Inc.	73	1.04	1.61	1.24	2.23	4.63
MUSA Murphy USA Inc.	42	0.14	0.42	1.06	0.20	0.30
ANF Abercrombie & Fitch Co.	48	0.16	0.80	1.10	0.46	0.88
NVMI Nova Ltd	91	2.40	2.73	1.35	6.46	17.75
SPXC SPX Corporation	76	1.24	1.92	1.24	2.11	6.58
CAMT Camtek Ltd	92	2.63	3.00	1.37	6.32	17.20
MOD Modine Manufacturing Company	92	2.36	2.71	1.38	6.29	16.75
CLS Celestica Inc.	95	3.62	3.29	1.44	9.34	24.62

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.

Longtime Investment (Mid&Small-Cap) Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: 3.25
5-Year: 1.77
10-Year: 1.44
All Time: 1.24

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 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 Longtime Investment (Mid&Small-Cap) 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

Longtime Investment (Mid&Small-Cap) provided a 0.07% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.07%	0.08%	0.19%	0.11%	0.14%	0.14%	0.22%	1.00%	0.59%	0.64%	0.63%	0.97%
Portfolio components:
EME EMCOR Group, Inc.	0.15%	0.16%	0.20%	0.32%	0.36%	0.41%	0.35%	0.37%	0.54%	0.39%	0.45%	0.67%
FIX Comfort Systems USA, Inc.	0.16%	0.21%	0.28%	0.41%	0.49%	0.49%	0.81%	0.79%	0.76%	0.68%	0.83%	0.88%
ONTO Onto Innovation Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MUSA Murphy USA Inc.	0.46%	0.53%	0.36%	0.43%	0.45%	0.52%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
ANF Abercrombie & Fitch Co.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.98%	4.63%	3.99%	4.59%	6.67%	2.96%
NVMI Nova Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXC SPX Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.04%
CAMT Camtek Ltd	0.00%	0.00%	1.65%	0.00%	0.00%	0.00%	0.00%	1.57%	2.07%	2.45%	0.00%	0.00%
MOD Modine Manufacturing Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CLS Celestica Inc.	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 Longtime Investment (Mid&Small-Cap). 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 Longtime Investment (Mid&Small-Cap) was 42.96%, occurring on Mar 23, 2020. Recovery took 97 trading sessions.

The current Longtime Investment (Mid&Small-Cap) drawdown is 2.70%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-42.96%	Jan 17, 2020	45	Mar 23, 2020	97	Aug 10, 2020	142
-38.42%	Jan 23, 2025	51	Apr 4, 2025	76	Jul 25, 2025	127
-28.17%	Aug 22, 2018	86	Dec 24, 2018	216	Nov 1, 2019	302
-26.56%	Nov 18, 2021	157	Jul 6, 2022	130	Jan 10, 2023	287
-25.9%	Jul 8, 2014	404	Feb 11, 2016	114	Jul 26, 2016	518

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 14 assets, with an effective number of assets of 14.00, 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	MUSA	USLM	ANF	CAMT	IESC	NVMI	WIRE	CLS	STRL	MOD	ONTO	SPXC	FIX	EME	Portfolio
Benchmark	1.00	0.33	0.39	0.38	0.42	0.37	0.54	0.49	0.51	0.42	0.50	0.56	0.59	0.55	0.60	0.71
MUSA	0.33	1.00	0.19	0.25	0.14	0.17	0.13	0.26	0.17	0.21	0.21	0.18	0.27	0.28	0.29	0.37
USLM	0.39	0.19	1.00	0.21	0.20	0.29	0.24	0.29	0.29	0.31	0.34	0.30	0.36	0.37	0.37	0.49
ANF	0.38	0.25	0.21	1.00	0.24	0.23	0.23	0.33	0.29	0.30	0.36	0.29	0.34	0.34	0.36	0.54
CAMT	0.42	0.14	0.20	0.24	1.00	0.25	0.52	0.25	0.38	0.29	0.32	0.51	0.32	0.33	0.33	0.59
IESC	0.37	0.17	0.29	0.23	0.25	1.00	0.26	0.27	0.33	0.40	0.38	0.34	0.39	0.44	0.44	0.57
NVMI	0.54	0.13	0.24	0.23	0.52	0.26	1.00	0.29	0.42	0.30	0.36	0.64	0.33	0.36	0.36	0.60
WIRE	0.49	0.26	0.29	0.33	0.25	0.27	0.29	1.00	0.33	0.37	0.42	0.39	0.47	0.47	0.49	0.59
CLS	0.51	0.17	0.29	0.29	0.38	0.33	0.42	0.33	1.00	0.35	0.42	0.46	0.40	0.44	0.46	0.63
STRL	0.42	0.21	0.31	0.30	0.29	0.40	0.30	0.37	0.35	1.00	0.43	0.37	0.44	0.52	0.54	0.64
MOD	0.50	0.21	0.34	0.36	0.32	0.38	0.36	0.42	0.42	0.43	1.00	0.42	0.52	0.49	0.52	0.68
ONTO	0.56	0.18	0.30	0.29	0.51	0.34	0.64	0.39	0.46	0.37	0.42	1.00	0.42	0.45	0.45	0.69
SPXC	0.59	0.27	0.36	0.34	0.32	0.39	0.33	0.47	0.40	0.44	0.52	0.42	1.00	0.54	0.58	0.68
FIX	0.55	0.28	0.37	0.34	0.33	0.44	0.36	0.47	0.44	0.52	0.49	0.45	0.54	1.00	0.68	0.72
EME	0.60	0.29	0.37	0.36	0.33	0.44	0.36	0.49	0.46	0.54	0.52	0.45	0.58	0.68	1.00	0.73
Portfolio	0.71	0.37	0.49	0.54	0.59	0.57	0.60	0.59	0.63	0.64	0.68	0.69	0.68	0.72	0.73	1.00

The correlation results are calculated based on daily price changes starting from Aug 20, 2013

Longtime Investment (Mid&Small-Cap)

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