L 2
Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
AAPL Apple Inc | Technology | 7.40% |
CB Chubb Limited | Financial Services | 4.86% |
CINF Cincinnati Financial Corporation | Financial Services | 2.11% |
COST Costco Wholesale Corporation | Consumer Defensive | 5.59% |
DPZ Domino's Pizza, Inc. | Consumer Cyclical | 4.04% |
ETN Eaton Corporation plc | Industrials | 1.67% |
GLD SPDR Gold Trust | Precious Metals, Gold | 17.57% |
LLY Eli Lilly and Company | Healthcare | 11.89% |
MSFT Microsoft Corporation | Technology | 3.18% |
NVDA NVIDIA Corporation | Technology | 6.31% |
ORLY O'Reilly Automotive, Inc. | Consumer Cyclical | 8.09% |
PGR The Progressive Corporation | Financial Services | 8.07% |
RGR Sturm, Ruger & Company, Inc. | Industrials | 4.32% |
TJX The TJX Companies, Inc. | Consumer Cyclical | 5.03% |
TOL Toll Brothers, Inc. | Consumer Cyclical | 1.25% |
UNH UnitedHealth Group Incorporated | Healthcare | 3.74% |
WMT Walmart Inc. | Consumer Defensive | 4.88% |
Performance
Performance Chart
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The earliest data available for this chart is Nov 18, 2004, corresponding to the inception date of GLD
Returns By Period
As of May 23, 2025, the L 2 returned 6.04% Year-To-Date and 23.90% of annualized return in the last 10 years.
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | -0.67% | 10.48% | -1.79% | 10.08% | 14.60% | 10.64% |
| L 2 | 6.04% | 0.50% | 3.37% | 19.02% | 27.24% | 23.90% |
| Portfolio components: | ||||||
AAPL Apple Inc | -19.40% | 0.94% | -11.67% | 5.97% | 21.04% | 21.10% |
PGR The Progressive Corporation | 18.00% | 4.54% | 7.33% | 37.14% | 32.61% | 29.20% |
UNH UnitedHealth Group Incorporated | -41.10% | -30.55% | -49.94% | -42.19% | 1.95% | 11.20% |
CB Chubb Limited | 4.23% | -1.15% | 1.35% | 8.76% | 21.72% | 12.37% |
COST Costco Wholesale Corporation | 11.38% | 4.11% | 6.79% | 27.63% | 29.60% | 23.78% |
DPZ Domino's Pizza, Inc. | 15.36% | -0.80% | 8.96% | -4.47% | 6.54% | 17.28% |
ETN Eaton Corporation plc | -2.56% | 20.71% | -12.83% | -3.22% | 34.97% | 19.09% |
GLD SPDR Gold Trust | 25.18% | -2.57% | 22.89% | 37.71% | 13.18% | 10.12% |
LLY Eli Lilly and Company | -7.01% | -13.40% | -4.27% | -10.31% | 38.06% | 27.69% |
NVDA NVIDIA Corporation | -1.08% | 34.32% | -9.42% | 39.93% | 71.34% | 74.59% |
TOL Toll Brothers, Inc. | -16.94% | 6.84% | -31.34% | -11.92% | 30.64% | 11.74% |
RGR Sturm, Ruger & Company, Inc. | 2.52% | -9.25% | -3.38% | -15.60% | -4.27% | -0.30% |
MSFT Microsoft Corporation | 8.33% | 24.23% | 10.59% | 6.46% | 20.94% | 27.31% |
ORLY O'Reilly Automotive, Inc. | 15.09% | -2.06% | 13.29% | 37.66% | 27.50% | 19.79% |
WMT Walmart Inc. | 6.73% | 1.38% | 9.33% | 48.53% | 19.98% | 16.49% |
CINF Cincinnati Financial Corporation | 1.72% | 9.29% | -5.07% | 25.35% | 23.66% | 14.25% |
TJX The TJX Companies, Inc. | 7.93% | 3.41% | 8.87% | 29.80% | 21.03% | 16.07% |
Monthly Returns
The table below presents the monthly returns of L 2, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 3.27% | 4.76% | -1.66% | 2.18% | -2.45% | 6.04% | |||||||
| 2024 | 5.08% | 7.08% | 5.45% | -1.46% | 5.51% | 3.99% | 1.35% | 5.55% | 1.12% | -0.98% | 4.66% | -4.59% | 37.20% |
| 2023 | 5.23% | -0.86% | 6.11% | 3.03% | 1.87% | 5.81% | 2.05% | 2.90% | -2.74% | 2.77% | 4.92% | 1.62% | 37.58% |
| 2022 | -5.47% | 0.50% | 5.24% | -6.04% | 0.41% | -3.15% | 5.36% | -4.22% | -4.48% | 9.20% | 6.42% | -3.93% | -1.70% |
| 2021 | -0.21% | -0.50% | 1.81% | 5.55% | 3.44% | 4.19% | 2.91% | 3.96% | -5.66% | 7.48% | 2.28% | 5.56% | 34.67% |
| 2020 | 2.54% | -3.84% | -3.66% | 9.72% | 5.95% | 4.33% | 7.35% | 5.22% | -2.15% | -3.51% | 5.18% | 5.86% | 36.80% |
| 2019 | 5.44% | 3.30% | 3.27% | 1.28% | -3.45% | 5.44% | 1.32% | 0.46% | 1.25% | 4.07% | 2.95% | 3.84% | 32.97% |
| 2018 | 4.61% | -2.71% | 0.34% | 1.29% | 3.75% | -0.59% | 4.39% | 7.93% | 1.03% | -3.81% | -0.87% | -4.53% | 10.55% |
| 2017 | 2.44% | 4.65% | 1.08% | 0.66% | 4.60% | -1.32% | 1.24% | 0.52% | 2.16% | 1.63% | 5.13% | 0.73% | 25.99% |
| 2016 | -1.38% | 4.10% | 4.43% | -2.01% | 2.89% | 3.30% | 5.08% | -1.33% | 1.07% | -1.35% | 0.83% | 3.57% | 20.56% |
| 2015 | 1.76% | 4.87% | -0.22% | -0.02% | 1.92% | -0.20% | 1.55% | -1.05% | 0.99% | 4.69% | -1.12% | 0.58% | 14.39% |
| 2014 | -1.84% | 6.66% | -0.94% | 1.18% | 0.49% | 1.78% | -2.80% | 5.07% | -1.60% | 4.02% | 4.14% | -0.13% | 16.68% |
Expense Ratio
L 2 has an expense ratio of 0.07%, 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.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 89, L 2 is among the top 11% 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.
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.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
AAPL Apple Inc | 0.18 | 0.49 | 1.07 | 0.18 | 0.56 |
PGR The Progressive Corporation | 1.52 | 2.00 | 1.28 | 2.98 | 7.59 |
UNH UnitedHealth Group Incorporated | -0.95 | -1.13 | 0.80 | -0.75 | -2.50 |
CB Chubb Limited | 0.43 | 0.80 | 1.10 | 0.71 | 1.75 |
COST Costco Wholesale Corporation | 1.27 | 1.83 | 1.25 | 1.68 | 4.85 |
DPZ Domino's Pizza, Inc. | -0.14 | -0.02 | 1.00 | -0.20 | -0.33 |
ETN Eaton Corporation plc | -0.08 | 0.18 | 1.03 | -0.07 | -0.17 |
GLD SPDR Gold Trust | 2.13 | 2.65 | 1.34 | 4.31 | 10.98 |
LLY Eli Lilly and Company | -0.27 | -0.04 | 0.99 | -0.32 | -0.61 |
NVDA NVIDIA Corporation | 0.67 | 1.26 | 1.16 | 1.09 | 2.67 |
TOL Toll Brothers, Inc. | -0.32 | -0.54 | 0.94 | -0.43 | -0.90 |
RGR Sturm, Ruger & Company, Inc. | -0.52 | -0.46 | 0.93 | -0.25 | -0.97 |
MSFT Microsoft Corporation | 0.25 | 0.62 | 1.08 | 0.33 | 0.73 |
ORLY O'Reilly Automotive, Inc. | 1.82 | 2.56 | 1.31 | 2.05 | 11.80 |
WMT Walmart Inc. | 2.04 | 2.87 | 1.39 | 2.33 | 7.62 |
CINF Cincinnati Financial Corporation | 1.01 | 1.48 | 1.20 | 1.31 | 3.31 |
TJX The TJX Companies, Inc. | 1.60 | 2.65 | 1.33 | 3.10 | 9.93 |
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Dividends
Dividend yield
L 2 provided a 0.82% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 0.82% | 0.65% | 0.86% | 1.35% | 1.33% | 1.51% | 1.25% | 1.27% | 1.44% | 1.49% | 1.64% | 1.86% |
| Portfolio components: | ||||||||||||
AAPL Apple Inc | 0.50% | 0.40% | 0.49% | 0.70% | 0.49% | 0.61% | 1.04% | 1.79% | 1.45% | 1.93% | 1.93% | 1.67% |
PGR The Progressive Corporation | 1.77% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% | 5.53% |
UNH UnitedHealth Group Incorporated | 2.83% | 1.62% | 1.38% | 1.21% | 1.12% | 1.38% | 1.41% | 1.38% | 1.30% | 1.48% | 1.59% | 1.39% |
CB Chubb Limited | 1.27% | 1.30% | 1.51% | 1.49% | 1.65% | 2.01% | 1.91% | 2.24% | 1.93% | 2.07% | 2.28% | 2.79% |
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% |
DPZ Domino's Pizza, Inc. | 1.30% | 1.44% | 1.17% | 1.27% | 0.67% | 0.81% | 0.89% | 0.89% | 0.97% | 0.95% | 1.11% | 1.06% |
ETN Eaton Corporation plc | 1.23% | 1.13% | 1.43% | 2.06% | 1.76% | 2.43% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% | 2.88% |
GLD SPDR Gold 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% |
LLY Eli Lilly and Company | 0.78% | 0.67% | 0.78% | 1.07% | 1.23% | 1.75% | 1.96% | 1.95% | 2.46% | 2.77% | 2.37% | 2.84% |
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% |
TOL Toll Brothers, Inc. | 0.90% | 0.71% | 0.81% | 1.54% | 0.86% | 1.01% | 1.11% | 1.25% | 0.50% | 0.00% | 0.00% | 0.00% |
RGR Sturm, Ruger & Company, Inc. | 2.01% | 1.95% | 2.79% | 14.66% | 4.94% | 10.00% | 1.74% | 2.07% | 2.44% | 3.28% | 1.85% | 4.68% |
MSFT Microsoft Corporation | 0.71% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% | 2.48% |
ORLY O'Reilly Automotive, 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% |
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% |
CINF Cincinnati Financial Corporation | 2.27% | 2.25% | 2.90% | 2.70% | 2.21% | 2.75% | 2.13% | 2.74% | 3.33% | 2.53% | 3.89% | 3.40% |
TJX The TJX Companies, Inc. | 1.20% | 1.21% | 1.38% | 1.44% | 1.37% | 0.34% | 1.45% | 1.66% | 1.57% | 1.32% | 1.14% | 0.98% |
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 L 2. 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 L 2 was 40.77%, occurring on Nov 20, 2008. Recovery took 243 trading sessions.
The current L 2 drawdown is 2.45%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -40.77% | Dec 27, 2007 | 229 | Nov 20, 2008 | 243 | Nov 9, 2009 | 472 |
| -21.64% | Feb 21, 2020 | 22 | Mar 23, 2020 | 46 | May 28, 2020 | 68 |
| -13.93% | Oct 10, 2018 | 52 | Dec 24, 2018 | 38 | Feb 20, 2019 | 90 |
| -13.54% | Apr 11, 2022 | 48 | Jun 17, 2022 | 114 | Nov 30, 2022 | 162 |
| -11.46% | May 8, 2006 | 26 | Jun 13, 2006 | 73 | Sep 26, 2006 | 99 |
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 17 assets, with an effective number of assets of 11.81, 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
| ^GSPC | GLD | RGR | UNH | DPZ | LLY | WMT | NVDA | AAPL | TOL | ORLY | PGR | CB | TJX | MSFT | COST | ETN | CINF | Portfolio | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ^GSPC | 1.00 | 0.06 | 0.35 | 0.47 | 0.46 | 0.49 | 0.45 | 0.59 | 0.59 | 0.56 | 0.49 | 0.54 | 0.56 | 0.56 | 0.69 | 0.57 | 0.71 | 0.65 | 0.85 |
| GLD | 0.06 | 1.00 | 0.04 | -0.00 | 0.01 | 0.01 | -0.01 | 0.04 | 0.02 | 0.05 | -0.03 | -0.00 | -0.00 | -0.03 | 0.02 | 0.00 | 0.05 | -0.00 | 0.22 |
| RGR | 0.35 | 0.04 | 1.00 | 0.18 | 0.23 | 0.17 | 0.19 | 0.21 | 0.22 | 0.28 | 0.23 | 0.23 | 0.24 | 0.28 | 0.22 | 0.23 | 0.28 | 0.29 | 0.43 |
| UNH | 0.47 | -0.00 | 0.18 | 1.00 | 0.26 | 0.34 | 0.28 | 0.22 | 0.27 | 0.26 | 0.32 | 0.34 | 0.35 | 0.32 | 0.31 | 0.31 | 0.34 | 0.37 | 0.48 |
| DPZ | 0.46 | 0.01 | 0.23 | 0.26 | 1.00 | 0.27 | 0.27 | 0.31 | 0.30 | 0.33 | 0.35 | 0.26 | 0.27 | 0.35 | 0.33 | 0.35 | 0.34 | 0.32 | 0.51 |
| LLY | 0.49 | 0.01 | 0.17 | 0.34 | 0.27 | 1.00 | 0.32 | 0.25 | 0.26 | 0.24 | 0.30 | 0.34 | 0.34 | 0.30 | 0.36 | 0.35 | 0.35 | 0.36 | 0.58 |
| WMT | 0.45 | -0.01 | 0.19 | 0.28 | 0.27 | 0.32 | 1.00 | 0.22 | 0.25 | 0.28 | 0.37 | 0.34 | 0.36 | 0.40 | 0.33 | 0.56 | 0.31 | 0.37 | 0.50 |
| NVDA | 0.59 | 0.04 | 0.21 | 0.22 | 0.31 | 0.25 | 0.22 | 1.00 | 0.45 | 0.35 | 0.29 | 0.26 | 0.23 | 0.30 | 0.51 | 0.34 | 0.42 | 0.28 | 0.61 |
| AAPL | 0.59 | 0.02 | 0.22 | 0.27 | 0.30 | 0.26 | 0.25 | 0.45 | 1.00 | 0.35 | 0.31 | 0.28 | 0.27 | 0.31 | 0.51 | 0.37 | 0.39 | 0.31 | 0.60 |
| TOL | 0.56 | 0.05 | 0.28 | 0.26 | 0.33 | 0.24 | 0.28 | 0.35 | 0.35 | 1.00 | 0.36 | 0.34 | 0.36 | 0.39 | 0.34 | 0.36 | 0.46 | 0.41 | 0.53 |
| ORLY | 0.49 | -0.03 | 0.23 | 0.32 | 0.35 | 0.30 | 0.37 | 0.29 | 0.31 | 0.36 | 1.00 | 0.35 | 0.37 | 0.47 | 0.34 | 0.44 | 0.36 | 0.40 | 0.59 |
| PGR | 0.54 | -0.00 | 0.23 | 0.34 | 0.26 | 0.34 | 0.34 | 0.26 | 0.28 | 0.34 | 0.35 | 1.00 | 0.54 | 0.36 | 0.35 | 0.37 | 0.40 | 0.59 | 0.58 |
| CB | 0.56 | -0.00 | 0.24 | 0.35 | 0.27 | 0.34 | 0.36 | 0.23 | 0.27 | 0.36 | 0.37 | 0.54 | 1.00 | 0.41 | 0.34 | 0.36 | 0.43 | 0.68 | 0.55 |
| TJX | 0.56 | -0.03 | 0.28 | 0.32 | 0.35 | 0.30 | 0.40 | 0.30 | 0.31 | 0.39 | 0.47 | 0.36 | 0.41 | 1.00 | 0.36 | 0.48 | 0.43 | 0.44 | 0.59 |
| MSFT | 0.69 | 0.02 | 0.22 | 0.31 | 0.33 | 0.36 | 0.33 | 0.51 | 0.51 | 0.34 | 0.34 | 0.35 | 0.34 | 0.36 | 1.00 | 0.43 | 0.45 | 0.39 | 0.62 |
| COST | 0.57 | 0.00 | 0.23 | 0.31 | 0.35 | 0.35 | 0.56 | 0.34 | 0.37 | 0.36 | 0.44 | 0.37 | 0.36 | 0.48 | 0.43 | 1.00 | 0.38 | 0.40 | 0.62 |
| ETN | 0.71 | 0.05 | 0.28 | 0.34 | 0.34 | 0.35 | 0.31 | 0.42 | 0.39 | 0.46 | 0.36 | 0.40 | 0.43 | 0.43 | 0.45 | 0.38 | 1.00 | 0.50 | 0.60 |
| CINF | 0.65 | -0.00 | 0.29 | 0.37 | 0.32 | 0.36 | 0.37 | 0.28 | 0.31 | 0.41 | 0.40 | 0.59 | 0.68 | 0.44 | 0.39 | 0.40 | 0.50 | 1.00 | 0.60 |
| Portfolio | 0.85 | 0.22 | 0.43 | 0.48 | 0.51 | 0.58 | 0.50 | 0.61 | 0.60 | 0.53 | 0.59 | 0.58 | 0.55 | 0.59 | 0.62 | 0.62 | 0.60 | 0.60 | 1.00 |