BIL + COVERD CALL

Asset Allocation

Position	Category/Sector	Target Weight
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	Government Bonds, Ultrashort Bond	90%
XYLD Global X S&P 500 Covered Call ETF	Derivative Income, S&P 500	10%

Benchmark Against

Benchmark

S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in BIL + COVERD CALL, 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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Returns By Period

As of Jun 6, 2026, the BIL + COVERD CALL returned 1.86% Year-To-Date and 2.87% of annualized return in the last 10 years.

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 BIL + COVERD CALL	0.04%	0.36%	1.86%	2.21%	5.14%	5.27%	3.88%	2.87%
Portfolio components:
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	0.01%	0.29%	1.54%	1.78%	3.88%	4.62%	3.42%	2.19%
XYLD Global X S&P 500 Covered Call ETF	0.27%	0.88%	4.47%	5.83%	16.60%	10.96%	7.62%	8.23%

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

Monthly Returns

Based on dividend-adjusted daily data since Jun 25, 2013, BIL + COVERD CALL's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.

Historically, 78% of months were positive and 22% were negative. The best month was Oct 2015 with a return of +0.9%, while the worst month was Mar 2020 at -1.3%. The longest winning streak lasted 29 consecutive months, and the longest losing streak was 3 months.

On a daily basis, BIL + COVERD CALL closed higher 61% of trading days. The best single day was Apr 9, 2025 with a return of +0.8%, while the worst single day was Mar 16, 2020 at -1.0%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	0.38%	0.32%	-0.03%	0.65%	0.51%	0.02%							1.86%
2025	0.51%	0.23%	-0.17%	0.11%	0.42%	0.57%	0.39%	0.43%	0.46%	0.56%	0.49%	0.47%	4.56%
2024	0.56%	0.57%	0.61%	0.26%	0.52%	0.52%	0.51%	0.71%	0.51%	0.29%	0.73%	0.59%	6.57%
2023	0.70%	0.28%	0.55%	0.42%	0.44%	0.60%	0.49%	0.28%	0.09%	0.30%	0.70%	0.58%	5.56%
2022	-0.23%	-0.09%	0.45%	-0.50%	-0.33%	-0.20%	0.42%	-0.36%	-0.47%	0.73%	0.50%	0.16%	0.07%
2021	0.04%	0.07%	0.45%	0.08%	0.16%	0.22%	0.03%	0.25%	-0.17%	0.44%	-0.19%	0.37%	1.76%

Benchmark Metrics

BIL + COVERD CALL has an annualized alpha of 1.50%, beta of 0.07, and R2 of 0.72 versus S&P 500 Index. Calculated based on daily prices since June 25, 2013.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (8.88%) than losses (3.89%) - typical of diversified or defensive assets.
Beta of 0.07 indicates this portfolio moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.

Alpha: 1.50%

Beta: 0.07

R²: 0.72

Upside Capture: 8.88%

Downside Capture: 3.89%

Expense Ratio

BIL + COVERD CALL has an expense ratio of 0.19%, 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.

XYLD

Global X S&P 500 Covered Call ETF

BIL

SPDR Bloomberg 1-3 Month T-Bill ETF

Return for Risk

Risk / Return Rank

BIL + COVERD CALL ranks 100 for risk / return — in the top 100% 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

The table below presents risk-adjusted performance metrics for BIL + COVERD CALL and compares them with S&P 500 Index.

	Portfolio	Benchmark	Difference
Sharpe ratioReturn per unit of total volatility	7.74	1.94	+5.81
Sortino ratioReturn per unit of downside risk	14.55	2.63	+11.93
Omega ratioGain probability vs. loss probability	3.85	1.35	+2.50
Calmar ratioReturn relative to maximum drawdown	18.24	2.59	+15.65
Martin ratioReturn relative to average drawdown	115.53	11.84	+103.68
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
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	100	19.64	174.66	88.16	356.40	2,826.06
XYLD Global X S&P 500 Covered Call ETF	84	2.53	3.58	1.59	3.15	16.73

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.

BIL + COVERD CALL Sharpe ratios as of Jun 6, 2026 (values are recalculated daily):

1-Year: 7.74
5-Year: 3.47
10-Year: 2.12
All Time: 1.81

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 1.63 to 2.51, 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 BIL + COVERD CALL 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

BIL + COVERD CALL provided a 4.53% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	4.53%	4.77%	5.68%	5.48%	2.56%	0.91%	1.06%	2.42%	2.21%	1.13%	0.38%	0.47%
Portfolio components:
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.57%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

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 BIL + COVERD CALL. 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 BIL + COVERD CALL was 3.24%, occurring on Mar 23, 2020. Recovery took 177 trading sessions.

The current BIL + COVERD CALL drawdown is 0.06%.

Related event	Drawdown	Fall	Recovery	Underwater
COVID crash2020	-3.24%Mar 2020	1mo 2d	8mo 14d	9mo 16dFeb 2020 - Dec 2020
Bear market2022	-1.48%Sep 2022	5mo 12d	3mo 8d	8mo 20dApr 2022 - Jan 2023
Rate-hike selloffLate 2018	-1.35%Dec 2018	3mo 4d	1mo 27d	5mo 1dSep 2018 - Feb 2019
2016 pullback2016	-1.22%Feb 2016	7mo 23d	3mo 26d	11mo 19dJun 2015 - Jun 2016
2025 selloff2025	-1.15%Apr 2025	1mo 16d	1mo 1d	2mo 17dFeb 2025 - May 2025

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 2 assets, with an effective number of assets of 1.22, 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	10Y	All Time
Diversification Ratio	1.26	1.20	1.18	1.15	1.16

The portfolio has a diversification ratio of 1.16, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.

BIL + COVERD CALL correlation to the S&P 500 Index

BIL + COVERD CALL has a 0.80 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 25, 2013	0.78

Benchmark Correlations

Correlation vs. S&P 500 Index. XYLD has the highest benchmark correlation at 0.81, while BIL has the lowest at 0.00.

BIL

0.00

XYLD

0.81

Portfolio Correlations

Correlation vs. BIL + COVERD CALL. XYLD has the highest portfolio correlation at 0.95, while BIL has the lowest at 0.26.

BIL

0.26

XYLD

0.95

Asset Correlations Table

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

	BIL	XYLD
BIL	1.00	0.00
XYLD	0.00	1.00

The correlation results are calculated based on daily price changes starting from Jun 25, 2013

Diversification Analysis

Find what BIL + COVERD CALL is missing

See which holdings overlap, where BIL + COVERD CALL is concentrated, and which low-correlation assets could fill the gaps.

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