Financial Data & Stock Exchanges

Asset Allocation

Position	Category/Sector	Target Weight
CBOE Cboe Global Markets, Inc.	Financial Services	10%
CME CME Group Inc.	Financial Services	10%
FDS FactSet Research Systems Inc.	Financial Services	10%
ICE Intercontinental Exchange, Inc.	Financial Services	10%
MCO Moody's Corporation	Financial Services	10%
MORN Morningstar, Inc.	Financial Services	10%
MSCI MSCI Inc.	Financial Services	10%
NDAQ Nasdaq, Inc.	Financial Services	10%
SPGI S&P Global Inc.	Financial Services	10%
VALU Value Line, Inc.	Financial Services	10%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Financial Data & Stock Exchanges, 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 Jun 15, 2010, corresponding to the inception date of CBOE

Returns By Period

As of Apr 2, 2026, the Financial Data & Stock Exchanges returned -6.12% Year-To-Date and 16.69% 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 Financial Data & Stock Exchanges	1.78%	-2.58%	-6.12%	-2.55%	-7.81%	9.05%	9.17%	16.69%
Portfolio components:
SPGI S&P Global Inc.	1.41%	-2.89%	-17.30%	-9.15%	-15.45%	8.46%	4.39%	17.03%
ICE Intercontinental Exchange, Inc.	3.10%	-0.77%	0.95%	1.87%	-3.25%	17.10%	8.77%	14.61%
MCO Moody's Corporation	0.46%	-5.06%	-13.53%	-8.20%	-5.65%	14.08%	8.51%	17.60%
CME CME Group Inc.	2.75%	-3.91%	14.40%	18.24%	20.66%	22.20%	12.78%	16.60%
MSCI MSCI Inc.	1.47%	-3.68%	-4.67%	-2.16%	-4.14%	0.45%	6.04%	23.41%
NDAQ Nasdaq, Inc.	1.76%	-0.56%	-10.51%	-0.18%	12.01%	18.43%	13.02%	16.62%
CBOE Cboe Global Markets, Inc.	3.45%	-4.76%	15.80%	20.70%	30.61%	30.74%	25.22%	17.47%
FDS FactSet Research Systems Inc.	1.25%	2.16%	-21.14%	-18.49%	-48.87%	-17.30%	-5.47%	5.20%
MORN Morningstar, Inc.	2.19%	-4.88%	-20.01%	-23.02%	-42.13%	-4.56%	-5.16%	7.82%
VALU Value Line, Inc.	0.03%	-4.00%	-7.36%	-7.69%	-8.91%	-7.32%	7.38%	11.65%

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

Monthly Returns

Based on dividend-adjusted daily data since Jun 16, 2010, Financial Data & Stock Exchanges's average daily return is +0.07%, while the average monthly return is +1.45%. At this rate, your investment would double in approximately 4.0 years.

Historically, 63% of months were positive and 37% were negative. The best month was Oct 2010 with a return of +13.4%, while the worst month was Sep 2022 at -12.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, Financial Data & Stock Exchanges closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +12.8%, while the worst single day was Mar 16, 2020 at -12.0%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	0.56%	-4.32%	-4.66%	2.33%									-6.12%
2025	0.17%	2.00%	-2.15%	-1.07%	4.65%	1.65%	-0.86%	-2.11%	-5.17%	-3.41%	3.23%	2.50%	-1.04%
2024	-0.34%	0.50%	0.46%	-6.68%	1.49%	2.67%	7.79%	4.61%	2.23%	-0.23%	7.23%	-3.93%	15.92%
2023	6.76%	-4.51%	2.03%	-1.71%	-0.32%	2.55%	7.18%	1.13%	-4.54%	-0.21%	10.08%	5.59%	25.41%
2022	-7.02%	-2.60%	4.11%	-7.97%	-2.37%	-3.76%	12.63%	-4.48%	-12.67%	8.37%	7.77%	-7.32%	-17.08%
2021	-4.30%	2.58%	2.90%	9.14%	-0.01%	5.57%	3.51%	4.64%	-3.16%	12.06%	-0.35%	4.76%	42.78%

Benchmark Metrics

Financial Data & Stock Exchanges has an annualized alpha of 6.78%, beta of 0.91, and R² of 0.64 versus S&P 500 Index. Calculated based on daily prices since June 16, 2010.

This portfolio captured 103.36% of S&P 500 Index gains but only 74.81% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 6.78% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
With beta of 0.91 and R² of 0.64, this portfolio moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

Alpha: 6.78%

Beta: 0.91

R²: 0.64

Upside Capture: 103.36%

Downside Capture: 74.81%

Expense Ratio

Financial Data & Stock Exchanges 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

Financial Data & Stock Exchanges ranks 2 for risk / return — in the bottom 2% of portfolios on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

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	-0.40	0.88	-1.28
Sortino ratio Return per unit of downside risk	-0.41	1.37	-1.78
Omega ratio Gain probability vs. loss probability	0.94	1.21	-0.26
Calmar ratio Return relative to maximum drawdown	-0.41	1.39	-1.80
Martin ratio Return relative to average drawdown	-0.93	6.43	-7.36
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
SPGI S&P Global Inc.	18	-0.53	-0.52	0.92	-0.49	-1.22
ICE Intercontinental Exchange, Inc.	31	-0.14	-0.04	0.99	-0.17	-0.34
MCO Moody's Corporation	29	-0.19	-0.06	0.99	-0.22	-0.60
CME CME Group Inc.	70	1.06	1.45	1.19	2.05	4.03
MSCI MSCI Inc.	32	-0.14	0.01	1.00	-0.15	-0.41
NDAQ Nasdaq, Inc.	53	0.45	0.76	1.11	0.71	1.85
CBOE Cboe Global Markets, Inc.	78	1.38	1.89	1.24	2.93	7.43
FDS FactSet Research Systems Inc.	5	-1.33	-1.98	0.74	-0.83	-1.44
MORN Morningstar, Inc.	4	-1.33	-2.00	0.75	-0.83	-1.55
VALU Value Line, Inc.	26	-0.28	-0.20	0.98	-0.43	-0.80

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.

Financial Data & Stock Exchanges Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: -0.40
5-Year: 0.49
10-Year: 0.82
All Time: 0.91

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 Financial Data & Stock Exchanges 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

Financial Data & Stock Exchanges provided a 1.72% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.72%	1.35%	1.42%	1.47%	1.60%	1.10%	1.37%	1.39%	1.65%	1.69%	1.92%	1.96%
Portfolio components:
SPGI S&P Global Inc.	0.89%	0.73%	0.73%	0.82%	0.99%	0.65%	0.82%	0.84%	1.18%	0.97%	1.34%	1.34%
ICE Intercontinental Exchange, Inc.	1.20%	1.19%	1.21%	1.31%	1.48%	0.97%	1.04%	1.19%	1.27%	1.13%	1.21%	1.13%
MCO Moody's Corporation	0.87%	0.74%	0.72%	0.79%	1.26%	0.63%	0.77%	0.84%	1.26%	1.03%	1.57%	1.36%
CME CME Group Inc.	3.67%	1.83%	4.48%	4.58%	5.05%	3.00%	3.24%	2.74%	2.42%	4.20%	4.90%	5.41%
MSCI MSCI Inc.	1.37%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%
NDAQ Nasdaq, Inc.	1.25%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%
CBOE Cboe Global Markets, Inc.	0.96%	1.08%	1.21%	1.18%	1.56%	1.38%	1.68%	1.12%	1.19%	0.83%	1.30%	1.36%
FDS FactSet Research Systems Inc.	1.93%	1.50%	0.85%	0.80%	0.87%	0.66%	0.91%	1.04%	1.24%	1.13%	1.19%	1.05%
MORN Morningstar, Inc.	1.37%	0.84%	0.48%	0.52%	0.66%	0.28%	0.65%	0.74%	0.91%	0.95%	1.20%	0.95%
VALU Value Line, Inc.	3.68%	3.32%	2.23%	2.24%	1.91%	1.86%	2.52%	2.73%	3.65%	3.67%	3.44%	4.37%

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 Financial Data & Stock Exchanges. 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 Financial Data & Stock Exchanges was 34.66%, occurring on Mar 23, 2020. Recovery took 84 trading sessions.

The current Financial Data & Stock Exchanges drawdown is 13.73%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-34.66%	Feb 20, 2020	23	Mar 23, 2020	84	Jul 22, 2020	107
-24.49%	Dec 28, 2021	117	Jun 14, 2022	376	Dec 12, 2023	493
-19.49%	Jul 8, 2011	22	Aug 8, 2011	150	Mar 13, 2012	172
-18.19%	Aug 5, 2025	132	Feb 11, 2026	—	—	—
-17.24%	Sep 5, 2018	77	Dec 24, 2018	65	Mar 29, 2019	142

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 10 assets, with an effective number of assets of 10.00, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

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	VALU	CBOE	CME	MORN	FDS	ICE	MSCI	NDAQ	SPGI	MCO	Portfolio
Benchmark	1.00	0.22	0.28	0.42	0.55	0.58	0.55	0.63	0.62	0.65	0.69	0.71
VALU	0.22	1.00	0.08	0.11	0.15	0.15	0.14	0.17	0.15	0.16	0.17	0.44
CBOE	0.28	0.08	1.00	0.46	0.25	0.31	0.44	0.29	0.39	0.31	0.30	0.51
CME	0.42	0.11	0.46	1.00	0.33	0.39	0.60	0.38	0.51	0.40	0.41	0.61
MORN	0.55	0.15	0.25	0.33	1.00	0.53	0.43	0.55	0.48	0.54	0.55	0.66
FDS	0.58	0.15	0.31	0.39	0.53	1.00	0.47	0.59	0.52	0.57	0.59	0.70
ICE	0.55	0.14	0.44	0.60	0.43	0.47	1.00	0.49	0.62	0.52	0.54	0.71
MSCI	0.63	0.17	0.29	0.38	0.55	0.59	0.49	1.00	0.56	0.61	0.63	0.73
NDAQ	0.62	0.15	0.39	0.51	0.48	0.52	0.62	0.56	1.00	0.54	0.58	0.74
SPGI	0.65	0.16	0.31	0.40	0.54	0.57	0.52	0.61	0.54	1.00	0.78	0.75
MCO	0.69	0.17	0.30	0.41	0.55	0.59	0.54	0.63	0.58	0.78	1.00	0.77
Portfolio	0.71	0.44	0.51	0.61	0.66	0.70	0.71	0.73	0.74	0.75	0.77	1.00

The correlation results are calculated based on daily price changes starting from Jun 16, 2010

Financial Data & Stock Exchanges

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