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Barbell 18
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification

Barbell 18

Currency in USD · Last updated May 23, 2025

Asset Allocation

BITC 20%BRK-B 50%NVDA 5%COST 5%WMT 5%VGT 5%FXI 5%WM 5%CryptocurrencyCryptocurrencyEquityEquity
PositionCategory/SectorTarget Weight
BITC
Bitwise Bitcoin Strategy Optimum Roll ETF		Blockchain
20%
BRK-B
Berkshire Hathaway Inc.		Financial Services
50%
COST
Costco Wholesale Corporation		Consumer Defensive
5%
FXI
iShares China Large-Cap ETF		China Equities
5%
NVDA
NVIDIA Corporation		Technology
5%
VGT
Vanguard Information Technology ETF		Technology Equities
5%
WM
Waste Management, Inc.		Industrials
5%
WMT
Walmart Inc.		Consumer Defensive
5%

S&P 500

Performance

Performance Chart

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The earliest data available for this chart is Mar 21, 2023, corresponding to the inception date of BITC

Returns By Period

YTD1M6M1Y5Y*10Y*
^GSPC
S&P 500		-0.67%10.48%-1.79%10.08%14.60%10.64%
Barbell 1810.72%5.72%5.97%30.11%N/AN/A
Portfolio components:
BRK-B
Berkshire Hathaway Inc.		11.09%-3.31%6.67%21.64%23.55%13.29%
NVDA
NVIDIA Corporation		-1.08%34.32%-9.42%39.93%71.34%74.59%
COST
Costco Wholesale Corporation		11.38%4.11%6.79%27.63%29.60%23.78%
WMT
Walmart Inc.		6.73%1.38%9.33%48.53%19.98%16.49%
VGT
Vanguard Information Technology ETF		-3.03%19.52%-2.52%12.13%19.49%19.66%
BITC
Bitwise Bitcoin Strategy Optimum Roll ETF		6.96%20.79%0.16%36.15%N/AN/A
FXI
iShares China Large-Cap ETF		17.97%7.32%20.09%29.66%1.38%-1.14%
WM
Waste Management, Inc.		16.05%1.46%6.07%12.76%20.69%18.97%
*Annualized

Monthly Returns

The table below presents the monthly returns of Barbell 18, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.37%6.24%-1.29%1.46%2.66%10.72%
20245.37%15.57%5.44%-6.86%8.10%-1.68%4.65%3.82%0.76%1.50%13.58%-5.26%51.99%
20232.32%3.63%-1.16%7.67%1.87%-1.39%-2.28%4.09%6.20%2.14%25.08%

Expense Ratio

Barbell 18 has an expense ratio of 0.22%, 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.

BITC
Bitwise Bitcoin Strategy Optimum Roll ETF
FXI
iShares China Large-Cap ETF
VGT
Vanguard Information Technology ETF

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 93, Barbell 18 is among the top 7% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of Barbell 18 is 9393
Overall Rank
The Sharpe Ratio Rank of Barbell 18 is 9393
Sharpe Ratio Rank
The Sortino Ratio Rank of Barbell 18 is 9191
Sortino Ratio Rank
The Omega Ratio Rank of Barbell 18 is 9292
Omega Ratio Rank
The Calmar Ratio Rank of Barbell 18 is 9696
Calmar Ratio Rank
The Martin Ratio Rank of Barbell 18 is 9595
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.

Portfolio components
Sharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
BRK-B
Berkshire Hathaway Inc.		1.101.591.232.496.06
NVDA
NVIDIA Corporation		0.671.261.161.092.67
COST
Costco Wholesale Corporation		1.271.831.251.684.85
WMT
Walmart Inc.		2.042.871.392.337.62
VGT
Vanguard Information Technology ETF		0.400.771.110.451.46
BITC
Bitwise Bitcoin Strategy Optimum Roll ETF		0.781.361.181.142.24
FXI
iShares China Large-Cap ETF		0.851.281.171.122.37
WM
Waste Management, Inc.		0.630.991.151.142.56

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.

Barbell 18 Sharpe ratios as of May 23, 2025 (values are recalculated daily):

  • 1-Year: 1.61
  • All Time: 2.45

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 0.47 to 0.99, 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 Barbell 18 compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

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Dividends

Dividend yield

Barbell 18 provided a 8.22% dividend yield over the last twelve months.

TTM20242023202220212020201920182017201620152014
Portfolio8.22%8.80%1.62%0.38%0.29%0.49%0.43%0.49%0.62%0.54%0.78%0.57%
Portfolio components:
BRK-B
Berkshire Hathaway 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%0.02%0.03%0.11%0.05%0.12%0.27%0.46%0.29%0.45%1.20%1.70%
COST
Costco Wholesale Corporation		0.47%0.49%2.87%0.76%0.54%3.38%0.86%1.08%4.81%1.09%4.06%0.97%
WMT
Walmart Inc.		0.92%0.92%1.45%1.58%1.52%1.50%1.78%2.23%2.07%2.89%3.20%2.24%
VGT
Vanguard Information Technology ETF		0.53%0.60%0.65%0.91%0.64%0.82%1.11%1.29%0.99%1.31%1.28%1.12%
BITC
Bitwise Bitcoin Strategy Optimum Roll ETF		39.90%42.68%5.65%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FXI
iShares China Large-Cap ETF		1.49%1.76%3.17%2.61%1.60%2.19%2.74%2.69%2.31%2.69%2.90%2.51%
WM
Waste Management, Inc.		1.32%1.49%1.56%1.66%1.38%1.85%1.80%2.09%1.97%2.31%2.89%2.92%

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 Barbell 18. 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 Barbell 18 was 9.83%, occurring on Aug 5, 2024. Recovery took 14 trading sessions.

The current Barbell 18 drawdown is 0.07%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-9.83%Jul 23, 202410Aug 5, 202414Aug 23, 202424
-9.17%Mar 28, 20258Apr 8, 202514Apr 29, 202522
-8.12%Dec 9, 202423Jan 13, 202529Feb 25, 202552
-7.65%Mar 14, 202434May 1, 202412May 17, 202446
-5.74%Aug 9, 202339Oct 3, 202322Nov 2, 202361

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 8 assets, with an effective number of assets of 3.28, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of 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.
^GSPCWMBITCFXIWMTBRK-BNVDACOSTVGTPortfolio
^GSPC1.000.270.240.360.340.470.640.540.900.62
WM0.271.000.010.040.370.33-0.010.320.130.24
BITC0.240.011.000.120.060.130.170.140.220.76
FXI0.360.040.121.000.100.230.240.140.320.32
WMT0.340.370.060.101.000.300.090.540.210.31
BRK-B0.470.330.130.230.301.000.090.250.250.60
NVDA0.64-0.010.170.240.090.091.000.290.790.42
COST0.540.320.140.140.540.250.291.000.460.40
VGT0.900.130.220.320.210.250.790.461.000.53
Portfolio0.620.240.760.320.310.600.420.400.531.00
The correlation results are calculated based on daily price changes starting from Mar 22, 2023