2024 IIM Future Winners - Unoptimized

Asset Allocation

Position	Category/Sector	Target Weight
AGX Argan, Inc.	Industrials	6.67%
ANF Abercrombie & Fitch Co.	Consumer Cyclical	6.67%
BMI Badger Meter, Inc.	Industrials	6.67%
CORT Corcept Therapeutics Incorporated	Healthcare	6.67%
DRS Leonardo DRS Inc. Common Stock	Industrials	6.67%
HBM Hudbay Minerals Inc.	Basic Materials	6.67%
HCKT The Hackett Group, Inc.	Technology	6.67%
OLED Universal Display Corporation	Technology	6.67%
PIPR Piper Sandler Companies	Financial Services	6.67%
SHOO Steven Madden, Ltd.	Consumer Cyclical	6.67%
SIMO Silicon Motion Technology Corporation	Technology	6.67%
SPXC SPX Corporation	Industrials	6.67%
STRA Strategic Education, Inc.	Consumer Defensive	6.67%
TREX Trex Company, Inc.	Industrials	6.67%
WTS Watts Water Technologies, Inc.	Industrials	6.67%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in 2024 IIM Future Winners - Unoptimized, 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 Nov 29, 2022, corresponding to the inception date of DRS

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 2024 IIM Future Winners - Unoptimized	-0.10%	-1.33%	4.03%	1.06%	26.63%	32.02%	—	—
Portfolio components:
HBM Hudbay Minerals Inc.	5.26%	-17.70%	10.87%	43.18%	185.98%	61.54%	25.04%	20.12%
TREX Trex Company, Inc.	0.41%	-10.10%	4.25%	-29.59%	-37.44%	-9.09%	-17.34%	11.85%
AGX Argan, Inc.	0.66%	31.04%	83.80%	112.63%	320.00%	145.13%	63.30%	36.17%
SIMO Silicon Motion Technology Corporation	4.18%	-9.45%	26.67%	21.39%	135.36%	24.39%	15.51%	14.53%
OLED Universal Display Corporation	-2.24%	-16.28%	-22.86%	-37.32%	-34.48%	-15.78%	-16.94%	5.64%
BMI Badger Meter, Inc.	1.22%	1.32%	-11.35%	-12.28%	-19.28%	8.96%	10.80%	17.64%
PIPR Piper Sandler Companies	0.08%	2.61%	-8.07%	-7.51%	24.99%	33.23%	26.04%	23.54%
ANF Abercrombie & Fitch Co.	-2.13%	-7.02%	-26.71%	7.68%	10.62%	48.98%	21.77%	13.35%
WTS Watts Water Technologies, Inc.	0.94%	-10.04%	6.32%	5.62%	43.20%	21.25%	20.35%	19.25%
DRS Leonardo DRS Inc. Common Stock	3.01%	1.01%	34.78%	3.34%	40.77%	52.95%	—	—

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

Monthly Returns

Based on dividend-adjusted daily data since Nov 30, 2022, 2024 IIM Future Winners - Unoptimized's average daily return is +0.12%, while the average monthly return is +2.35%. At this rate, your investment would double in approximately 2.5 years.

Historically, 64% of months were positive and 36% were negative. The best month was May 2025 with a return of +13.7%, while the worst month was Dec 2024 at -7.6%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.

On a daily basis, 2024 IIM Future Winners - Unoptimized closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +10.0%, while the worst single day was Apr 3, 2025 at -8.6%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.84%	1.71%	-4.99%	1.71%									4.03%
2025	3.05%	-7.50%	0.50%	-5.72%	13.74%	5.22%	-0.42%	3.19%	6.17%	-2.17%	2.99%	-2.43%	15.95%
2024	-3.11%	10.88%	3.31%	0.30%	11.52%	1.12%	6.10%	-4.00%	6.22%	-2.15%	11.82%	-7.55%	37.37%
2023	12.74%	-2.12%	0.65%	-1.00%	1.15%	8.91%	5.06%	4.69%	-3.91%	-0.12%	9.11%	11.24%	55.21%
2022											1.38%	-4.63%	-3.32%

Benchmark Metrics

2024 IIM Future Winners - Unoptimized has an annualized alpha of 11.00%, beta of 1.19, and R² of 0.62 versus S&P 500 Index. Calculated based on daily prices since November 30, 2022.

This portfolio captured 151.20% of S&P 500 Index gains but only 90.09% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 11.00% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.

Alpha: 11.00%

Beta: 1.19

R²: 0.62

Upside Capture: 151.20%

Downside Capture: 90.09%

Expense Ratio

2024 IIM Future Winners - Unoptimized 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

2024 IIM Future Winners - Unoptimized ranks 32 for risk / return — below 32% of portfolios on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

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	1.00	0.88	+0.12
Sortino ratio Return per unit of downside risk	1.53	1.37	+0.16
Omega ratio Gain probability vs. loss probability	1.20	1.21	-0.01
Calmar ratio Return relative to maximum drawdown	1.72	1.39	+0.33
Martin ratio Return relative to average drawdown	6.34	6.43	-0.10
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.

	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
HBM Hudbay Minerals Inc.	95	3.31	3.40	1.46	5.26	18.82
TREX Trex Company, Inc.	14	-0.72	-0.79	0.88	-0.66	-1.21
AGX Argan, Inc.	98	4.25	4.09	1.53	13.27	35.96
SIMO Silicon Motion Technology Corporation	92	2.59	2.93	1.40	5.23	14.23
OLED Universal Display Corporation	10	-0.73	-0.91	0.88	-0.79	-1.70
BMI Badger Meter, Inc.	23	-0.50	-0.46	0.93	-0.43	-0.68
PIPR Piper Sandler Companies	61	0.64	1.13	1.15	1.10	2.84
ANF Abercrombie & Fitch Co.	48	0.16	0.80	1.10	0.46	0.88
WTS Watts Water Technologies, Inc.	85	1.55	2.45	1.31	2.90	10.14
DRS Leonardo DRS Inc. Common Stock	68	0.99	1.56	1.21	1.25	2.63

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.

2024 IIM Future Winners - Unoptimized Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: 1.00
All Time: 1.38

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 1.70, 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 2024 IIM Future Winners - Unoptimized 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

2024 IIM Future Winners - Unoptimized provided a 1.22% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.22%	1.07%	0.96%	0.93%	1.41%	1.11%	1.34%	1.25%	1.50%	1.17%	0.91%	1.30%
Portfolio components:
HBM Hudbay Minerals Inc.	0.06%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%
TREX Trex Company, 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%
AGX Argan, Inc.	0.30%	0.52%	0.93%	2.24%	2.71%	1.94%	7.31%	2.49%	1.98%	4.44%	1.42%	2.16%
SIMO Silicon Motion Technology Corporation	1.71%	2.16%	3.70%	0.82%	2.31%	1.62%	2.89%	2.45%	3.45%	1.68%	1.51%	1.88%
OLED Universal Display Corporation	2.06%	1.54%	1.09%	0.73%	1.11%	0.48%	0.26%	0.19%	0.26%	0.07%	0.00%	0.00%
BMI Badger Meter, Inc.	1.00%	0.85%	0.58%	0.64%	0.78%	0.71%	0.74%	0.99%	1.14%	1.03%	1.16%	1.33%
PIPR Piper Sandler Companies	2.53%	1.68%	1.17%	2.09%	5.30%	3.81%	1.98%	1.88%	4.74%	1.45%	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%
WTS Watts Water Technologies, Inc.	0.71%	0.72%	0.81%	0.66%	0.79%	0.52%	0.76%	0.90%	1.27%	0.99%	1.09%	1.33%
DRS Leonardo DRS Inc. Common Stock	0.78%	1.06%	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 2024 IIM Future Winners - Unoptimized. 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 2024 IIM Future Winners - Unoptimized was 27.36%, occurring on Apr 8, 2025. Recovery took 59 trading sessions.

The current 2024 IIM Future Winners - Unoptimized drawdown is 5.49%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-27.36%	Nov 26, 2024	90	Apr 8, 2025	59	Jul 3, 2025	149
-13.54%	Jul 17, 2024	16	Aug 7, 2024	36	Sep 27, 2024	52
-10.77%	Jan 23, 2026	46	Mar 30, 2026	—	—	—
-10.63%	Feb 6, 2023	25	Mar 13, 2023	59	Jun 6, 2023	84
-9.72%	Oct 3, 2025	35	Nov 20, 2025	13	Dec 10, 2025	48

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 15 assets, with an effective number of assets of 15.00, 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	CORT	ANF	STRA	HBM	SIMO	AGX	DRS	HCKT	OLED	SHOO	BMI	TREX	PIPR	SPXC	WTS	Portfolio
Benchmark	1.00	0.35	0.35	0.31	0.43	0.50	0.37	0.44	0.45	0.58	0.48	0.53	0.57	0.60	0.58	0.58	0.76
CORT	0.35	1.00	0.14	0.17	0.17	0.12	0.16	0.21	0.28	0.27	0.24	0.26	0.24	0.28	0.29	0.26	0.45
ANF	0.35	0.14	1.00	0.21	0.18	0.23	0.17	0.16	0.24	0.26	0.39	0.23	0.31	0.32	0.29	0.24	0.50
STRA	0.31	0.17	0.21	1.00	0.13	0.16	0.13	0.25	0.33	0.25	0.27	0.34	0.27	0.38	0.33	0.37	0.43
HBM	0.43	0.17	0.18	0.13	1.00	0.27	0.27	0.24	0.18	0.32	0.30	0.24	0.32	0.31	0.35	0.29	0.52
SIMO	0.50	0.12	0.23	0.16	0.27	1.00	0.29	0.22	0.19	0.40	0.24	0.27	0.27	0.31	0.31	0.27	0.49
AGX	0.37	0.16	0.17	0.13	0.27	0.29	1.00	0.31	0.26	0.23	0.27	0.28	0.25	0.36	0.39	0.30	0.54
DRS	0.44	0.21	0.16	0.25	0.24	0.22	0.31	1.00	0.28	0.32	0.20	0.37	0.31	0.35	0.38	0.37	0.53
HCKT	0.45	0.28	0.24	0.33	0.18	0.19	0.26	0.28	1.00	0.30	0.40	0.41	0.43	0.44	0.41	0.48	0.55
OLED	0.58	0.27	0.26	0.25	0.32	0.40	0.23	0.32	0.30	1.00	0.37	0.39	0.42	0.39	0.40	0.44	0.60
SHOO	0.48	0.24	0.39	0.27	0.30	0.24	0.27	0.20	0.40	0.37	1.00	0.39	0.47	0.47	0.45	0.47	0.61
BMI	0.53	0.26	0.23	0.34	0.24	0.27	0.28	0.37	0.41	0.39	0.39	1.00	0.43	0.47	0.53	0.60	0.62
TREX	0.57	0.24	0.31	0.27	0.32	0.27	0.25	0.31	0.43	0.42	0.47	0.43	1.00	0.49	0.47	0.56	0.65
PIPR	0.60	0.28	0.32	0.38	0.31	0.31	0.36	0.35	0.44	0.39	0.47	0.47	0.49	1.00	0.54	0.56	0.68
SPXC	0.58	0.29	0.29	0.33	0.35	0.31	0.39	0.38	0.41	0.40	0.45	0.53	0.47	0.54	1.00	0.58	0.70
WTS	0.58	0.26	0.24	0.37	0.29	0.27	0.30	0.37	0.48	0.44	0.47	0.60	0.56	0.56	0.58	1.00	0.68
Portfolio	0.76	0.45	0.50	0.43	0.52	0.49	0.54	0.53	0.55	0.60	0.61	0.62	0.65	0.68	0.70	0.68	1.00

The correlation results are calculated based on daily price changes starting from Nov 30, 2022

2024 IIM Future Winners - Unoptimized

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