Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BIL SPDR Barclays 1-3 Month T-Bill ETF | Government Bonds | 150% |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | Ultrashort Bond | 150% |
SPAXX Fidelity Government Money Market Fund | Money Market | 170% |
SWVXX Schwab Value Advantage Money Fund | Money Market | 170% |
USD=X USD Cash | -900% | |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | Government Bonds | 150% |
VMFXX Vanguard Federal Money Market Fund | Money Market | 210% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in free leverage ;D, 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 25, 2021, corresponding to the inception date of SWVXX
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 free leverage ;D | — | — | — | — | — | — | — | — |
| Portfolio components: | ||||||||
SWVXX Schwab Value Advantage Money Fund | 0.00% | 0.00% | 0.57% | 1.55% | 3.68% | 4.68% | — | — |
SPAXX Fidelity Government Money Market Fund | 0.00% | 0.00% | 0.53% | 1.46% | 3.49% | 2.14% | — | — |
VMFXX Vanguard Federal Money Market Fund | 0.00% | 0.00% | 0.59% | 1.58% | 3.75% | 3.32% | — | — |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 0.00% | 0.25% | 0.38% | 1.58% | 5.36% | 6.73% | 4.57% | 4.17% |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | 0.04% | 0.29% | 0.97% | 2.06% | 4.12% | 4.89% | 3.53% | 2.41% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 0.02% | 0.31% | 0.90% | 1.85% | 4.01% | 4.71% | 3.28% | 2.13% |
USD=X USD Cash | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Monthly Returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.97% | 2.02% | 1.15% | 0.13% | 6.39% | ||||||||
| 2025 | 4.00% | 3.13% | 2.95% | 3.23% | 4.23% | 3.87% | 3.70% | 3.50% | 3.58% | 3.69% | 2.83% | 3.50% | 51.38% |
| 2024 | 3.14% | 3.16% | 2.98% | 2.94% | 4.63% | 2.51% | 3.49% | 3.13% | 4.26% | 2.90% | 4.28% | 3.83% | 49.97% |
| 2023 | 4.99% | 3.06% | 2.44% | 4.15% | 3.01% | 4.04% | 4.44% | 4.01% | 3.86% | 0.91% | 4.70% | 4.00% | 53.35% |
| 2022 | 0.24% | -0.77% | -0.21% | 0.03% | -1.67% | -1.26% | 1.40% | 1.86% | -0.95% | 0.71% | 1.90% | 2.01% | 3.24% |
| 2021 | -0.04% | 0.39% | 0.03% | 0.35% | 0.57% | -0.15% | -0.16% | 0.46% | 1.45% |
Benchmark Metrics
free leverage ;D has an annualized alpha of 32.40%, beta of 0.01, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since May 26, 2021.
- This portfolio captured 69.80% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -62.15%) — a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R² of 0.00 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
- R² of 0.00 means this portfolio moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 32.40%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 69.80%
- Downside Capture
- -62.15%
Expense Ratio
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
free leverage ;D ranks 99 for risk / return — in the top 99% 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.
Return / Risk — by metrics
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 | |
|---|---|---|---|---|---|---|
SWVXX Schwab Value Advantage Money Fund | — | 3.52 | — | — | — | — |
SPAXX Fidelity Government Money Market Fund | — | 3.48 | — | — | — | — |
VMFXX Vanguard Federal Money Market Fund | — | 3.51 | — | — | — | — |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 92 | 1.89 | 2.45 | 2.41 | 2.54 | 11.20 |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | 100 | 14.40 | 42.98 | 10.69 | 104.25 | 665.20 |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 100 | 19.57 | 254.91 | 180.89 | 367.86 | 4,130.10 |
USD=X USD Cash | — | — | — | — | — | — |
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Dividends
Dividend yield
free leverage ;D provided a 40.57% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 40.57% | 43.60% | 40.01% | 41.61% | 10.80% | 4.00% | 5.49% | 12.67% | 10.93% | 7.09% | 4.66% | 3.81% |
| Portfolio components: | ||||||||||||
SWVXX Schwab Value Advantage Money Fund | 3.61% | 4.06% | 5.02% | 4.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPAXX Fidelity Government Money Market Fund | 3.42% | 3.88% | 1.53% | 0.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VMFXX Vanguard Federal Money Market Fund | 3.68% | 4.14% | 1.63% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 5.98% | 6.00% | 6.78% | 5.33% | 4.07% | 2.66% | 2.96% | 4.32% | 3.96% | 3.02% | 2.75% | 2.54% |
USFR WisdomTree Bloomberg Floating Rate Treasury Fund | 4.00% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
BIL SPDR Barclays 1-3 Month T-Bill ETF | 3.96% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
USD=X USD Cash | 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 free leverage ;D. 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 free leverage ;D was 4.42%, occurring on Jul 6, 2022. Recovery took 132 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -4.42% | Jan 20, 2022 | 168 | Jul 6, 2022 | 132 | Nov 15, 2022 | 300 |
| -3.06% | Apr 7, 2025 | 1 | Apr 7, 2025 | 23 | Apr 30, 2025 | 24 |
| -2.74% | Jul 10, 2024 | 1 | Jul 10, 2024 | 22 | Aug 1, 2024 | 23 |
| -2.7% | Apr 8, 2024 | 1 | Apr 8, 2024 | 28 | May 6, 2024 | 29 |
| -2.44% | Oct 5, 2023 | 1 | Oct 5, 2023 | 26 | Oct 31, 2023 | 27 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
Asset Correlations Table
| Benchmark | USD=X | ENIAX | BIL | USFR | SWVXX | VMFXX | SPAXX | Portfolio | |
|---|---|---|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.00 | 0.18 | -0.00 | -0.01 | -0.01 | 0.03 | 0.00 | 0.14 |
| USD=X | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| ENIAX | 0.18 | 0.00 | 1.00 | 0.16 | 0.12 | -0.00 | 0.01 | -0.04 | 0.70 |
| BIL | -0.00 | 0.00 | 0.16 | 1.00 | 0.41 | 0.12 | 0.08 | 0.08 | 0.57 |
| USFR | -0.01 | 0.00 | 0.12 | 0.41 | 1.00 | 0.10 | 0.13 | 0.10 | 0.61 |
| SWVXX | -0.01 | 0.00 | -0.00 | 0.12 | 0.10 | 1.00 | 0.46 | 0.58 | 0.26 |
| VMFXX | 0.03 | 0.00 | 0.01 | 0.08 | 0.13 | 0.46 | 1.00 | 0.80 | 0.22 |
| SPAXX | 0.00 | 0.00 | -0.04 | 0.08 | 0.10 | 0.58 | 0.80 | 1.00 | 0.18 |
| Portfolio | 0.14 | 0.00 | 0.70 | 0.57 | 0.61 | 0.26 | 0.22 | 0.18 | 1.00 |