complete 2/28/26

Asset Allocation

Position	Category/Sector	Target Weight
BDMIX BlackRock Global Long/Short Equity Fund Class I	Long-Short	3.37%
BRK-B Berkshire Hathaway Inc.	Financial Services	1.61%
DFIVX DFA International Value Portfolio	Foreign Large Cap Equities	2.52%
FCNTX Fidelity Contrafund Fund	Large Cap Growth Equities	1.87%
FDIVX Fidelity Diversified International Fund	Foreign Large Cap Equities	2.63%
FPI Farmland Partners Inc.	Real Estate	0.89%
FSZ First Trust Switzerland AlphaDEX Fund	Europe Equities	1.27%
FXF Invesco CurrencyShares® Swiss Franc Trust	Currency	2.86%
GLD SPDR Gold Shares	Gold, Precious Metals	16.74%
IDMO Invesco S&P International Developed Momentum ETF	Global Equities	3.58%
IOO iShares Global 100 ETF	Large Cap Growth Equities	1.41%
JNJ Johnson & Johnson	Healthcare	1.83%
LVHI Legg Mason International Low Volatility High Dividend ETF	Volatility Hedged Equity, Dividend	7.51%
PRFDX T. Rowe Price Equity Income Fund	Large Cap Value Equities	4.49%
PTTRX PIMCO Total Return Fund Institutional Class	Total Bond Market	3.64%
SLV iShares Silver Trust	Precious Metals	12.60%
SPAXX Fidelity Government Money Market Fund	Money Market	18.98%
TIP iShares TIPS Bond ETF	Inflation-Protected Bonds	0.59%
VDC Vanguard Consumer Staples ETF	Consumer Staples Equities	0.73%
VMNFX Vanguard Market Neutral Fund Investor Shares	Long-Short	2.58%
VTI Vanguard Total Stock Market ETF	Large Cap Blend Equities	1.88%
VTIVX Vanguard Target Retirement 2045 Fund	Target Retirement Date, Diversified Portfolio	1.27%
WFMIX Allspring Special Mid Cap Value Fund Class I	Mid Cap Value Equities	3.07%
XMMO Invesco S&P MidCap Momentum ETF	Mid Cap Growth Equities	2.08%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in complete 2/28/26, 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 May 25, 2021, corresponding to the inception date of SPAXX

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 complete 2/28/26	-0.80%	-3.73%	3.81%	15.31%	32.58%	20.01%	—	—
Portfolio components:
FCNTX Fidelity Contrafund Fund	0.83%	-4.06%	-4.57%	-2.11%	19.45%	25.26%	13.40%	16.13%
PRFDX T. Rowe Price Equity Income Fund	0.52%	-3.00%	1.37%	6.28%	12.48%	13.22%	8.89%	11.15%
FDIVX Fidelity Diversified International Fund	2.07%	-2.04%	1.52%	5.22%	22.08%	14.29%	6.61%	8.60%
WFMIX Allspring Special Mid Cap Value Fund Class I	0.64%	-4.56%	3.82%	3.88%	11.24%	10.26%	8.02%	10.52%
IOO iShares Global 100 ETF	-0.07%	-2.56%	-3.70%	0.99%	27.10%	21.50%	14.48%	15.14%
LVHI Legg Mason International Low Volatility High Dividend ETF	0.29%	1.26%	11.30%	20.02%	33.29%	21.51%	16.36%	—
XMMO Invesco S&P MidCap Momentum ETF	-0.06%	-0.54%	6.80%	9.09%	27.24%	25.66%	12.61%	18.43%
VTIVX Vanguard Target Retirement 2045 Fund	0.90%	-2.64%	-0.40%	1.90%	19.04%	15.17%	8.12%	10.40%
GLD SPDR Gold Shares	-1.92%	-8.27%	8.35%	21.03%	49.02%	32.51%	21.53%	13.97%
SLV iShares Silver Trust	-3.45%	-11.90%	2.13%	54.69%	113.88%	43.94%	23.23%	16.57%

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

Monthly Returns

Based on dividend-adjusted daily data since May 26, 2021, complete 2/28/26's average daily return is +0.05%, while the average monthly return is +0.97%. At this rate, your investment would double in approximately 6.0 years.

Historically, 68% of months were positive and 32% were negative. The best month was Nov 2022 with a return of +6.6%, while the worst month was Mar 2026 at -6.9%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 3 months.

On a daily basis, complete 2/28/26 closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +3.5%, while the worst single day was Jan 30, 2026 at -6.9%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.92%	5.35%	-6.89%	-0.08%									3.81%
2025	3.81%	1.02%	2.61%	0.65%	2.04%	2.31%	0.34%	3.72%	5.20%	1.28%	4.15%	5.33%	37.54%
2024	-0.22%	1.74%	4.31%	-0.23%	4.17%	-0.58%	2.37%	1.40%	2.20%	0.57%	0.09%	-2.47%	13.95%
2023	3.04%	-3.49%	3.55%	1.68%	-2.20%	1.58%	2.77%	-1.24%	-2.96%	0.64%	5.01%	1.38%	9.78%
2022	-1.44%	1.37%	1.19%	-3.24%	-0.76%	-4.19%	1.83%	-3.56%	-3.04%	2.68%	6.57%	0.52%	-2.59%
2021					0.30%	-2.24%	0.76%	0.01%	-2.78%	2.85%	-1.60%	2.98%	0.12%

Benchmark Metrics

complete 2/28/26 has an annualized alpha of 8.46%, beta of 0.36, and R² of 0.35 versus S&P 500 Index. Calculated based on daily prices since May 26, 2021.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (52.43%) than losses (27.69%) — typical of diversified or defensive assets.
Beta of 0.36 may look defensive, but with R² of 0.35 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
R² of 0.35 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.

Alpha: 8.46%

Beta: 0.36

R²: 0.35

Upside Capture: 52.43%

Downside Capture: 27.69%

Expense Ratio

complete 2/28/26 has an expense ratio of 0.40%, placing it in the medium range. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

Top 10 holdings

BDMIX

BlackRock Global Long/Short Equity Fund Class I

VMNFX

Vanguard Market Neutral Fund Investor Shares

FDIVX

Fidelity Diversified International Fund

WFMIX

Allspring Special Mid Cap Value Fund Class I

FSZ

First Trust Switzerland AlphaDEX Fund

PRFDX

T. Rowe Price Equity Income Fund

SLV

iShares Silver Trust

PTTRX

PIMCO Total Return Fund Institutional Class

IOO

iShares Global 100 ETF

LVHI

Legg Mason International Low Volatility High Dividend ETF

Return for Risk

Risk / Return Rank

complete 2/28/26 ranks 86 for risk / return — in the top 86% 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

	Portfolio	Benchmark	Difference
Sharpe ratio Return per unit of total volatility	2.18	0.88	+1.30
Sortino ratio Return per unit of downside risk	2.58	1.37	+1.22
Omega ratio Gain probability vs. loss probability	1.45	1.21	+0.24
Calmar ratio Return relative to maximum drawdown	2.83	1.39	+1.44
Martin ratio Return relative to average drawdown	10.37	6.43	+3.94
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
FCNTX Fidelity Contrafund Fund	53	1.02	1.56	1.22	1.87	7.08
PRFDX T. Rowe Price Equity Income Fund	32	0.85	1.24	1.19	1.13	4.77
FDIVX Fidelity Diversified International Fund	60	1.21	1.72	1.24	1.89	7.31
WFMIX Allspring Special Mid Cap Value Fund Class I	23	0.70	1.11	1.14	1.07	3.73
IOO iShares Global 100 ETF	77	1.41	2.10	1.31	2.22	10.34
LVHI Legg Mason International Low Volatility High Dividend ETF	94	2.52	3.22	1.56	3.14	15.92
XMMO Invesco S&P MidCap Momentum ETF	71	1.25	1.80	1.25	2.29	10.83
VTIVX Vanguard Target Retirement 2045 Fund	75	1.43	2.05	1.30	2.06	9.17
GLD SPDR Gold Shares	80	1.77	2.19	1.32	2.57	9.28
SLV iShares Silver Trust	81	2.00	2.13	1.38	2.70	8.21

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.

complete 2/28/26 Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: 2.18
All Time: 1.18

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 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 complete 2/28/26 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

complete 2/28/26 provided a 2.84% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.84%	3.02%	2.65%	2.30%	2.07%	2.17%	1.22%	2.28%	2.48%	1.54%	1.19%	1.33%
Portfolio components:
FCNTX Fidelity Contrafund Fund	4.89%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
PRFDX T. Rowe Price Equity Income Fund	3.78%	3.87%	8.91%	6.19%	6.61%	8.78%	3.55%	12.53%	11.43%	8.97%	7.75%	7.48%
FDIVX Fidelity Diversified International Fund	10.53%	10.69%	3.93%	4.29%	1.34%	10.59%	0.97%	1.32%	7.32%	4.22%	1.36%	0.46%
WFMIX Allspring Special Mid Cap Value Fund Class I	10.83%	11.24%	8.00%	5.51%	8.71%	9.87%	0.66%	7.48%	2.74%	4.41%	1.44%	4.47%
IOO iShares Global 100 ETF	0.95%	0.92%	1.08%	1.49%	2.00%	1.53%	1.49%	2.02%	2.54%	2.23%	2.75%	2.89%
LVHI Legg Mason International Low Volatility High Dividend ETF	4.52%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%	0.00%
XMMO Invesco S&P MidCap Momentum ETF	0.70%	0.78%	0.34%	0.80%	1.43%	0.41%	0.61%	0.60%	0.19%	0.21%	0.22%	0.64%
VTIVX Vanguard Target Retirement 2045 Fund	2.51%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SLV iShares Silver Trust	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. 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 complete 2/28/26. 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 complete 2/28/26 was 13.61%, occurring on Sep 27, 2022. Recovery took 135 trading sessions.

The current complete 2/28/26 drawdown is 8.21%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-13.61%	Mar 28, 2022	128	Sep 27, 2022	135	Apr 12, 2023	263
-11.64%	Jan 30, 2026	39	Mar 26, 2026	—	—	—
-6.33%	Apr 3, 2025	4	Apr 8, 2025	11	Apr 24, 2025	15
-5.96%	Jul 27, 2023	48	Oct 3, 2023	37	Nov 24, 2023	85
-4.67%	Jun 3, 2021	83	Sep 29, 2021	30	Nov 10, 2021	113

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 24 assets, with an effective number of assets of 10.26, 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	SPAXX	VMNFX	BDMIX	JNJ	PTTRX	TIP	GLD	FXF	SLV	FPI	VDC	BRK-B	FSZ	LVHI	FCNTX	XMMO	IOO	WFMIX	IDMO	PRFDX	VTI	DFIVX	FDIVX	VTIVX	Portfolio
Benchmark	1.00	0.00	-0.01	0.12	0.20	0.14	0.17	0.10	0.16	0.22	0.37	0.48	0.54	0.55	0.58	0.94	0.81	0.95	0.79	0.72	0.78	0.99	0.69	0.80	0.95	0.57
SPAXX	0.00	1.00	-0.02	-0.00	0.05	0.15	0.03	0.00	-0.01	-0.04	0.04	0.07	0.02	-0.01	-0.04	-0.01	-0.02	-0.01	0.01	-0.01	0.02	-0.00	-0.04	-0.02	-0.01	0.00
VMNFX	-0.01	-0.02	1.00	0.27	-0.06	-0.17	-0.14	-0.11	-0.12	-0.07	-0.03	-0.04	0.09	-0.04	0.03	-0.00	0.07	0.01	0.01	0.03	0.04	-0.03	0.05	-0.03	-0.04	-0.02
BDMIX	0.12	-0.00	0.27	1.00	0.00	-0.00	-0.00	0.04	0.02	0.04	0.00	0.01	0.03	0.08	0.07	0.15	0.12	0.14	0.05	0.15	0.07	0.11	0.08	0.12	0.11	0.11
JNJ	0.20	0.05	-0.06	0.00	1.00	0.17	0.17	0.09	0.14	0.09	0.15	0.50	0.38	0.21	0.33	0.10	0.13	0.19	0.30	0.17	0.35	0.19	0.22	0.18	0.21	0.25
PTTRX	0.14	0.15	-0.17	-0.00	0.17	1.00	0.79	0.32	0.38	0.21	0.12	0.20	0.05	0.22	0.10	0.12	0.12	0.13	0.16	0.18	0.13	0.15	0.16	0.22	0.22	0.29
TIP	0.17	0.03	-0.14	-0.00	0.17	0.79	1.00	0.36	0.35	0.26	0.18	0.21	0.09	0.22	0.12	0.14	0.15	0.16	0.18	0.18	0.16	0.18	0.19	0.22	0.23	0.33
GLD	0.10	0.00	-0.11	0.04	0.09	0.32	0.36	1.00	0.44	0.76	0.16	0.11	0.03	0.24	0.15	0.09	0.11	0.13	0.14	0.26	0.13	0.12	0.31	0.28	0.21	0.74
FXF	0.16	-0.01	-0.12	0.02	0.14	0.38	0.35	0.44	1.00	0.38	0.15	0.18	0.13	0.50	0.12	0.13	0.13	0.19	0.21	0.32	0.21	0.17	0.40	0.36	0.28	0.46
SLV	0.22	-0.04	-0.07	0.04	0.09	0.21	0.26	0.76	0.38	1.00	0.23	0.13	0.09	0.28	0.24	0.21	0.20	0.25	0.22	0.35	0.23	0.23	0.41	0.37	0.32	0.83
FPI	0.37	0.04	-0.03	0.00	0.15	0.12	0.18	0.16	0.15	0.23	1.00	0.31	0.31	0.32	0.37	0.31	0.38	0.33	0.45	0.35	0.45	0.38	0.40	0.37	0.40	0.39
VDC	0.48	0.07	-0.04	0.01	0.50	0.20	0.21	0.11	0.18	0.13	0.31	1.00	0.51	0.36	0.49	0.35	0.42	0.41	0.58	0.38	0.61	0.47	0.42	0.40	0.48	0.39
BRK-B	0.54	0.02	0.09	0.03	0.38	0.05	0.09	0.03	0.13	0.09	0.31	0.51	1.00	0.37	0.50	0.45	0.51	0.46	0.65	0.44	0.70	0.54	0.51	0.44	0.53	0.38
FSZ	0.55	-0.01	-0.04	0.08	0.21	0.22	0.22	0.24	0.50	0.28	0.32	0.36	0.37	1.00	0.56	0.50	0.50	0.56	0.56	0.65	0.54	0.56	0.69	0.73	0.65	0.57
LVHI	0.58	-0.04	0.03	0.07	0.33	0.10	0.12	0.15	0.12	0.24	0.37	0.49	0.50	0.56	1.00	0.50	0.56	0.57	0.66	0.68	0.70	0.59	0.77	0.68	0.66	0.57
FCNTX	0.94	-0.01	-0.00	0.15	0.10	0.12	0.14	0.09	0.13	0.21	0.31	0.35	0.45	0.50	0.50	1.00	0.75	0.92	0.64	0.70	0.64	0.93	0.62	0.76	0.89	0.52
XMMO	0.81	-0.02	0.07	0.12	0.13	0.12	0.15	0.11	0.13	0.20	0.38	0.42	0.51	0.50	0.56	0.75	1.00	0.71	0.82	0.69	0.77	0.84	0.66	0.72	0.82	0.54
IOO	0.95	-0.01	0.01	0.14	0.19	0.13	0.16	0.13	0.19	0.25	0.33	0.41	0.46	0.56	0.57	0.92	0.71	1.00	0.68	0.74	0.68	0.93	0.70	0.80	0.92	0.58
WFMIX	0.79	0.01	0.01	0.05	0.30	0.16	0.18	0.14	0.21	0.22	0.45	0.58	0.65	0.56	0.66	0.64	0.82	0.68	1.00	0.67	0.92	0.82	0.74	0.72	0.82	0.59
IDMO	0.72	-0.01	0.03	0.15	0.17	0.18	0.18	0.26	0.32	0.35	0.35	0.38	0.44	0.65	0.68	0.70	0.69	0.74	0.67	1.00	0.68	0.73	0.86	0.90	0.82	0.68
PRFDX	0.78	0.02	0.04	0.07	0.35	0.13	0.16	0.13	0.21	0.23	0.45	0.61	0.70	0.54	0.70	0.64	0.77	0.68	0.92	0.68	1.00	0.80	0.76	0.70	0.81	0.60
VTI	0.99	-0.00	-0.03	0.11	0.19	0.15	0.18	0.12	0.17	0.23	0.38	0.47	0.54	0.56	0.59	0.93	0.84	0.93	0.82	0.73	0.80	1.00	0.71	0.81	0.96	0.58
DFIVX	0.69	-0.04	0.05	0.08	0.22	0.16	0.19	0.31	0.40	0.41	0.40	0.42	0.51	0.69	0.77	0.62	0.66	0.70	0.74	0.86	0.76	0.71	1.00	0.86	0.82	0.74
FDIVX	0.80	-0.02	-0.03	0.12	0.18	0.22	0.22	0.28	0.36	0.37	0.37	0.40	0.44	0.73	0.68	0.76	0.72	0.80	0.72	0.90	0.70	0.81	0.86	1.00	0.90	0.71
VTIVX	0.95	-0.01	-0.04	0.11	0.21	0.22	0.23	0.21	0.28	0.32	0.40	0.48	0.53	0.65	0.66	0.89	0.82	0.92	0.82	0.82	0.81	0.96	0.82	0.90	1.00	0.68
Portfolio	0.57	0.00	-0.02	0.11	0.25	0.29	0.33	0.74	0.46	0.83	0.39	0.39	0.38	0.57	0.57	0.52	0.54	0.58	0.59	0.68	0.60	0.58	0.74	0.71	0.68	1.00

The correlation results are calculated based on daily price changes starting from May 26, 2021

complete 2/28/26

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Benchmark Metrics

Expense Ratio

Top 10 holdings

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