moat

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

moat

Last updated Jul 25, 2024

Asset Allocation

Position	Category/Sector	Weight
AJG Arthur J. Gallagher & Co.	Financial Services	7.14%
AMZN Amazon.com, Inc.	Consumer Cyclical	7.14%
AXON Axon Enterprise, Inc.	Industrials	7.14%
CDNS Cadence Design Systems, Inc.	Technology	7.14%
CTAS Cintas Corporation	Industrials	7.14%
LLY Eli Lilly and Company	Healthcare	7.14%
MCD McDonald's Corporation	Consumer Cyclical	7.14%
MOH Molina Healthcare, Inc.	Healthcare	7.14%
NVDA NVIDIA Corporation	Technology	7.14%
PGR The Progressive Corporation	Financial Services	7.14%
TJX The TJX Companies, Inc.	Consumer Cyclical	7.14%
UNH UnitedHealth Group Incorporated	Healthcare	7.14%
V Visa Inc.	Financial Services	7.14%
VICI VICI Properties Inc.	Real Estate	7.14%

Benchmark

S&P 500

Rebalance portfolio

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in moat, 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 Quarterly

moat

Benchmark (^GSPC)

Portfolio components

The earliest data available for this chart is Oct 18, 2017, corresponding to the inception date of VICI

Returns By Period

	Year-To-Date	1 month	6 months	1 year	5 years (annualized)	10 years (annualized)
^GSPC S&P 500	13.20%	-1.28%	10.32%	18.23%	12.31%	10.58%
moat	19.75%	0.03%	15.56%	37.81%	29.28%	N/A
Portfolio components:
AJG Arthur J. Gallagher & Co.	22.42%	8.07%	18.14%	27.37%	26.04%	22.13%
AXON Axon Enterprise, Inc.	20.32%	6.12%	23.65%	70.69%	35.02%	39.38%
CTAS Cintas Corporation	25.78%	6.69%	26.80%	51.03%	24.80%	29.64%
LLY Eli Lilly and Company	41.36%	-8.88%	28.91%	81.83%	52.32%	31.91%
MCD McDonald's Corporation	-14.16%	-2.47%	-12.91%	-12.79%	5.55%	13.07%
MOH Molina Healthcare, Inc.	-10.28%	6.55%	-8.33%	5.48%	18.36%	22.10%
NVDA NVIDIA Corporation	126.76%	-11.17%	84.00%	144.69%	91.87%	74.99%
PGR The Progressive Corporation	34.38%	2.25%	18.70%	70.93%	23.96%	27.51%
TJX The TJX Companies, Inc.	19.47%	0.66%	16.28%	30.62%	16.41%	17.16%
UNH UnitedHealth Group Incorporated	7.18%	15.63%	12.14%	12.50%	19.03%	22.54%
V Visa Inc.	-2.18%	-7.26%	-4.95%	9.07%	7.43%	17.69%
CDNS Cadence Design Systems, Inc.	-5.14%	-16.47%	-11.13%	10.00%	27.83%	31.40%
VICI VICI Properties Inc.	-1.55%	8.90%	3.24%	0.94%	13.17%	N/A
AMZN Amazon.com, Inc.	18.37%	-7.11%	13.03%	40.23%	13.14%	27.42%

Monthly Returns

The table below presents the monthly returns of moat, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2024	3.62%	8.90%	3.87%	-4.63%	2.94%	3.88%							19.75%
2023	7.06%	-0.92%	6.02%	3.02%	1.86%	6.26%	0.46%	4.43%	-3.13%	2.39%	8.17%	2.33%	44.44%
2022	-7.39%	-1.19%	6.11%	-7.14%	0.50%	-4.49%	12.44%	-2.98%	-5.54%	9.95%	7.24%	-5.17%	-0.29%
2021	-0.03%	2.81%	0.97%	7.06%	-0.41%	5.91%	2.64%	2.45%	-4.58%	8.00%	0.53%	5.37%	34.51%
2020	3.55%	-4.16%	-8.26%	12.10%	8.18%	4.69%	5.29%	6.32%	-0.22%	-3.13%	10.77%	5.00%	45.46%
2019	9.22%	4.99%	4.18%	3.58%	-2.20%	4.21%	1.88%	-1.82%	-1.93%	2.01%	7.53%	2.96%	39.72%
2018	8.12%	-1.29%	0.12%	3.97%	7.39%	1.80%	4.87%	9.01%	1.43%	-6.27%	-0.64%	-8.38%	20.18%
2017										1.32%	6.02%	-0.08%	7.33%

Expense Ratio

moat has an expense ratio of 0.00%, indicating no management fees are charged. Below you can find the expense ratios of portfolio funds side-by-side and effortlessly compare their relative costs.

The portfolio doesn't hold funds that charge fees

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current risk-adjusted rank of moat is 95, placing it in the top 5% of portfolios on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.

moat

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

moat

^GSPC

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
AJG Arthur J. Gallagher & Co.	1.47	1.89	1.27	2.00	5.55
AXON Axon Enterprise, Inc.	2.24	3.49	1.42	3.19	11.87
CTAS Cintas Corporation	2.49	3.82	1.51	5.59	16.96
LLY Eli Lilly and Company	2.63	3.64	1.49	5.94	18.97
MCD McDonald's Corporation	-0.74	-0.95	0.89	-0.69	-1.38
MOH Molina Healthcare, Inc.	0.09	0.35	1.04	0.08	0.20
NVDA NVIDIA Corporation	3.13	3.59	1.45	7.37	20.15
PGR The Progressive Corporation	3.26	4.76	1.60	4.58	32.05
TJX The TJX Companies, Inc.	1.85	2.64	1.32	3.40	8.85
UNH UnitedHealth Group Incorporated	0.51	0.89	1.11	0.56	1.51
V Visa Inc.	0.49	0.74	1.09	0.57	1.68
CDNS Cadence Design Systems, Inc.	0.30	0.61	1.07	0.40	1.38
VICI VICI Properties Inc.	-0.09	0.01	1.00	-0.10	-0.20
AMZN Amazon.com, Inc.	1.41	2.15	1.26	1.09	7.87

Sharpe Ratio

The current moat Sharpe ratio is 3.14. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Compared to the broad market, where average Sharpe ratios range from 1.23 to 1.94, this portfolio's current Sharpe ratio is in the top 25%, it signifies superior risk-adjusted performance. This means that for the level of risk undertaken, the portfolio is generating impressive returns compared to most others.

Use the chart below to compare the Sharpe ratio of moat with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.

moat

Benchmark (^GSPC)

Portfolio components

Dividends

Dividend yield

moat granted a 1.01% dividend yield in the last twelve months.

	TTM	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
moat	1.01%	0.96%	0.98%	1.36%	1.13%	1.38%	1.36%	0.94%	1.17%	1.20%	1.56%	1.23%
Portfolio components:
AJG Arthur J. Gallagher & Co.	0.84%	0.98%	1.08%	1.13%	1.46%	1.81%	2.23%	2.47%	2.93%	3.62%	3.06%	2.98%
AXON Axon Enterprise, 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%
CTAS Cintas Corporation	0.72%	0.83%	0.93%	0.77%	0.20%	0.95%	1.22%	1.04%	1.15%	1.15%	2.17%	1.28%
LLY Eli Lilly and Company	0.59%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%	2.84%	3.84%
MCD McDonald's Corporation	2.60%	2.10%	2.15%	1.96%	2.35%	2.39%	2.36%	2.23%	2.97%	2.91%	3.50%	3.22%
MOH Molina Healthcare, 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%
NVDA NVIDIA Corporation	0.02%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.30%	0.46%	1.19%	1.68%	1.95%
PGR The Progressive Corporation	0.54%	0.25%	0.31%	6.23%	2.68%	3.87%	1.86%	1.21%	2.50%	2.16%	5.53%	1.05%
TJX The TJX Companies, Inc.	1.23%	1.38%	1.44%	1.37%	0.34%	1.45%	1.66%	1.57%	1.32%	1.14%	0.98%	0.86%
UNH UnitedHealth Group Incorporated	1.38%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%	1.39%	1.40%
V Visa Inc.	0.79%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%	0.64%	0.62%
CDNS Cadence Design Systems, 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%
VICI VICI Properties Inc.	5.45%	5.05%	4.63%	4.58%	4.92%	4.58%	5.31%	0.00%	0.00%	0.00%	0.00%	0.00%
AMZN Amazon.com, 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.

moat

Benchmark (^GSPC)

Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the moat. 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 moat was 32.70%, occurring on Mar 23, 2020. Recovery took 49 trading sessions.

The current moat drawdown is 3.28%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-32.7%	Feb 20, 2020	23	Mar 23, 2020	49	Jun 2, 2020	72
-20.51%	Oct 2, 2018	58	Dec 24, 2018	56	Mar 18, 2019	114
-19.08%	Dec 28, 2021	119	Jun 16, 2022	40	Aug 15, 2022	159
-12.71%	Aug 19, 2022	26	Sep 26, 2022	41	Nov 22, 2022	67
-10.28%	Jan 29, 2018	9	Feb 8, 2018	20	Mar 9, 2018	29

Volatility

Volatility Chart

The current moat volatility is 3.13%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.

moat

Benchmark (^GSPC)

Portfolio components

Diversification

Asset Correlations Table

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

	LLY	AXON	VICI	PGR	MOH	UNH	MCD	AMZN	NVDA	TJX	AJG	CDNS	V	CTAS
LLY	1.00	0.17	0.15	0.29	0.28	0.35	0.24	0.23	0.22	0.22	0.33	0.28	0.29	0.30
AXON	0.17	1.00	0.29	0.16	0.16	0.13	0.18	0.40	0.42	0.30	0.27	0.44	0.35	0.37
VICI	0.15	0.29	1.00	0.25	0.24	0.25	0.34	0.24	0.24	0.38	0.40	0.28	0.36	0.41
PGR	0.29	0.16	0.25	1.00	0.27	0.33	0.34	0.19	0.18	0.30	0.51	0.25	0.37	0.38
MOH	0.28	0.16	0.24	0.27	1.00	0.59	0.27	0.22	0.21	0.29	0.32	0.30	0.33	0.35
UNH	0.35	0.13	0.25	0.33	0.59	1.00	0.33	0.22	0.21	0.32	0.37	0.28	0.37	0.39
MCD	0.24	0.18	0.34	0.34	0.27	0.33	1.00	0.25	0.22	0.38	0.46	0.32	0.43	0.44
AMZN	0.23	0.40	0.24	0.19	0.22	0.22	0.25	1.00	0.60	0.32	0.28	0.60	0.48	0.43
NVDA	0.22	0.42	0.24	0.18	0.21	0.21	0.22	0.60	1.00	0.32	0.29	0.67	0.47	0.44
TJX	0.22	0.30	0.38	0.30	0.29	0.32	0.38	0.32	0.32	1.00	0.40	0.34	0.44	0.49
AJG	0.33	0.27	0.40	0.51	0.32	0.37	0.46	0.28	0.29	0.40	1.00	0.43	0.49	0.53
CDNS	0.28	0.44	0.28	0.25	0.30	0.28	0.32	0.60	0.67	0.34	0.43	1.00	0.53	0.56
V	0.29	0.35	0.36	0.37	0.33	0.37	0.43	0.48	0.47	0.44	0.49	0.53	1.00	0.56
CTAS	0.30	0.37	0.41	0.38	0.35	0.39	0.44	0.43	0.44	0.49	0.53	0.56	0.56	1.00

The correlation results are calculated based on daily price changes starting from Oct 19, 2017