fresh start

Asset Allocation

Position	Category/Sector	Target Weight
AMZN Amazon.com, Inc	Consumer Cyclical	5.97%
BNS.TO The Bank of Nova Scotia	Financial Services	10.18%
CNR.TO Canadian National Railway Company	Industrials	8.30%
CP Canadian Pacific Railway Limited	Industrials	10.12%
ENB.TO Enbridge Inc.	Energy	10.68%
MFC.TO Manulife Financial Corporation	Financial Services	6.95%
NA.TO National Bank of Canada	Financial Services	7.35%
RY Royal Bank of Canada	Financial Services	13.20%
T.TO TELUS Corporation	Communication Services	6.90%
TD The Toronto-Dominion Bank	Financial Services	6.12%
XIU.TO iShares S&P/TSX 60 Index ETF	Large Cap Growth Equities	14.23%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in fresh start, 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 Oct 4, 1999, corresponding to the inception date of XIU.TO

Returns By Period

As of Apr 3, 2026, the fresh start returned 2.28% Year-To-Date and 13.37% 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 fresh start	0.23%	-3.19%	2.28%	10.22%	30.16%	16.57%	10.61%	13.37%
Portfolio components:
XIU.TO iShares S&P/TSX 60 Index ETF	0.00%	-3.07%	2.33%	9.64%	32.62%	18.32%	12.04%	11.98%
RY Royal Bank of Canada	-0.02%	-1.51%	-3.48%	13.23%	47.07%	23.42%	16.38%	15.45%
ENB.TO Enbridge Inc.	0.80%	-0.26%	14.74%	12.08%	26.53%	19.10%	15.25%	10.19%
BNS.TO The Bank of Nova Scotia	-0.10%	-4.46%	-3.84%	10.34%	52.62%	18.09%	8.09%	9.32%
CP Canadian Pacific Railway Limited	1.22%	-9.85%	7.48%	4.55%	9.93%	1.54%	1.33%	12.66%
CNR.TO Canadian National Railway Company	0.72%	-5.66%	5.96%	11.75%	6.21%	-2.21%	-0.39%	7.41%
NA.TO National Bank of Canada	0.00%	-4.28%	6.28%	25.94%	60.63%	27.28%	18.82%	19.81%
MFC.TO Manulife Financial Corporation	0.17%	1.79%	-2.93%	13.30%	11.73%	29.12%	15.35%	14.95%
T.TO TELUS Corporation	0.00%	-3.16%	0.82%	-12.67%	0.49%	-7.14%	-2.74%	3.22%
TD The Toronto-Dominion Bank	0.55%	-2.56%	1.92%	21.71%	65.61%	21.34%	12.59%	12.93%

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

Monthly Returns

Based on dividend-adjusted daily data since Mar 2, 2009, fresh start's average daily return is +0.06%, while the average monthly return is +1.36%. At this rate, your investment would double in approximately 4.3 years.

Historically, 65% of months were positive and 35% were negative. The best month was May 2009 with a return of +18.5%, while the worst month was Mar 2020 at -16.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, fresh start closed higher 56% of trading days. The best single day was Mar 13, 2020 with a return of +13.6%, while the worst single day was Mar 9, 2020 at -12.5%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	0.76%	5.53%	-4.72%	0.96%									2.28%
2025	3.01%	-1.18%	-3.06%	4.30%	7.12%	2.12%	-1.34%	5.64%	1.41%	0.40%	2.95%	4.35%	28.36%
2024	-0.85%	2.56%	3.66%	-4.85%	4.82%	-2.16%	4.18%	4.20%	4.04%	-3.88%	5.51%	-4.93%	11.99%
2023	9.30%	-4.58%	-0.50%	3.57%	-5.20%	5.85%	2.14%	-5.21%	-4.08%	-4.66%	9.81%	8.12%	13.38%
2022	2.63%	0.64%	4.37%	-9.34%	2.44%	-8.66%	7.11%	-5.22%	-8.69%	5.61%	6.74%	-6.29%	-10.44%
2021	-0.10%	5.37%	6.72%	3.37%	4.64%	-1.52%	-0.87%	1.08%	-2.14%	8.11%	-4.80%	4.30%	25.95%

Benchmark Metrics

fresh start has an annualized alpha of 3.00%, beta of 0.90, and R² of 0.69 versus S&P 500 Index. Calculated based on daily prices since March 02, 2009.

This portfolio captured 106.46% of S&P 500 Index gains and 100.76% of its losses — amplifying both gains and losses, but participating more in upside than downside.
This portfolio generated an annualized alpha of 3.00% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
With beta of 0.90 and R² of 0.69, 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: 3.00%

Beta: 0.90

R²: 0.69

Upside Capture: 106.46%

Downside Capture: 100.76%

Expense Ratio

fresh start has an expense ratio of 0.03%, 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.

XIU.TO

iShares S&P/TSX 60 Index ETF

Return for Risk

Risk / Return Rank

fresh start ranks 95 for risk / return — in the top 95% 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	2.22	0.88	+1.34
Sortino ratio Return per unit of downside risk	3.19	1.37	+1.82
Omega ratio Gain probability vs. loss probability	1.44	1.21	+0.23
Calmar ratio Return relative to maximum drawdown	6.25	1.39	+4.86
Martin ratio Return relative to average drawdown	26.45	6.43	+20.02
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
XIU.TO iShares S&P/TSX 60 Index ETF	90	2.03	2.73	1.40	3.20	15.57
RY Royal Bank of Canada	95	2.84	3.98	1.52	4.83	17.99
ENB.TO Enbridge Inc.	81	1.57	2.12	1.28	3.09	7.68
BNS.TO The Bank of Nova Scotia	95	3.07	4.09	1.60	4.15	16.75
CP Canadian Pacific Railway Limited	52	0.42	0.84	1.09	0.75	1.47
CNR.TO Canadian National Railway Company	47	0.27	0.56	1.07	0.55	1.01
NA.TO National Bank of Canada	96	3.14	4.39	1.64	5.33	21.85
MFC.TO Manulife Financial Corporation	55	0.47	0.76	1.11	0.83	2.60
T.TO TELUS Corporation	35	0.03	0.17	1.02	-0.09	-0.18
TD The Toronto-Dominion Bank	98	3.91	4.92	1.66	8.96	32.97

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.

fresh start Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 2.22
5-Year: 0.68
10-Year: 0.73
All Time: 0.81

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 0.97 to 1.66, 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 fresh start 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

fresh start provided a 3.15% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	3.15%	3.30%	3.79%	4.07%	3.67%	3.30%	3.81%	3.23%	3.67%	2.89%	2.96%	3.67%
Portfolio components:
XIU.TO iShares S&P/TSX 60 Index ETF	2.32%	2.39%	2.92%	3.16%	3.02%	2.43%	3.03%	2.87%	3.18%	2.58%	2.65%	3.19%
RY Royal Bank of Canada	2.75%	2.54%	3.39%	4.29%	4.07%	3.24%	3.88%	3.88%	4.27%	3.22%	3.95%	5.41%
ENB.TO Enbridge Inc.	5.04%	5.74%	6.00%	7.45%	6.50%	6.76%	7.96%	5.72%	6.33%	4.91%	3.75%	4.04%
BNS.TO The Bank of Nova Scotia	3.38%	4.27%	5.49%	6.48%	4.61%	5.14%	5.23%	3.60%	4.91%	3.82%	3.91%	6.11%
CP Canadian Pacific Railway Limited	0.84%	0.86%	0.76%	0.78%	0.96%	0.84%	0.76%	0.93%	1.07%	0.92%	0.98%	0.98%
CNR.TO Canadian National Railway Company	2.47%	2.62%	2.32%	1.90%	1.82%	1.58%	1.64%	1.83%	1.80%	1.59%	1.66%	1.62%
NA.TO National Bank of Canada	2.62%	2.75%	4.17%	4.03%	4.03%	3.11%	3.96%	3.77%	4.44%	3.70%	4.03%	5.16%
MFC.TO Manulife Financial Corporation	3.72%	3.53%	3.62%	4.99%	5.47%	4.85%	5.83%	3.79%	4.70%	3.13%	3.09%	3.21%
T.TO TELUS Corporation	9.31%	9.13%	7.98%	6.17%	5.19%	4.26%	4.70%	4.48%	4.64%	4.14%	4.30%	4.39%
TD The Toronto-Dominion Bank	3.19%	3.17%	5.65%	4.80%	4.24%	3.27%	4.10%	3.89%	4.08%	3.03%	3.58%	5.11%

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 fresh start. 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 fresh start was 38.63%, occurring on Mar 23, 2020. Recovery took 168 trading sessions.

The current fresh start drawdown is 4.14%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-38.63%	Feb 13, 2020	27	Mar 23, 2020	168	Nov 16, 2020	195
-34.35%	Sep 19, 2014	342	Jan 20, 2016	228	Dec 8, 2016	570
-23.99%	Mar 31, 2022	138	Oct 12, 2022	474	Aug 19, 2024	612
-20.38%	May 3, 2011	109	Oct 3, 2011	113	Mar 13, 2012	222
-18.75%	Aug 28, 2018	84	Dec 24, 2018	76	Apr 12, 2019	160

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 11 assets, with an effective number of assets of 10.11, 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	AMZN	T.TO	ENB.TO	CP	CNR.TO	MFC.TO	NA.TO	TD	BNS.TO	RY	XIU.TO	Portfolio
Benchmark	1.00	0.62	0.42	0.47	0.59	0.60	0.63	0.55	0.63	0.60	0.64	0.74	0.76
AMZN	0.62	1.00	0.24	0.24	0.33	0.34	0.34	0.29	0.32	0.32	0.35	0.42	0.48
T.TO	0.42	0.24	1.00	0.48	0.40	0.47	0.42	0.47	0.48	0.52	0.48	0.58	0.61
ENB.TO	0.47	0.24	0.48	1.00	0.45	0.49	0.48	0.51	0.52	0.56	0.53	0.68	0.70
CP	0.59	0.33	0.40	0.45	1.00	0.73	0.51	0.48	0.54	0.53	0.54	0.64	0.74
CNR.TO	0.60	0.34	0.47	0.49	0.73	1.00	0.55	0.53	0.56	0.59	0.57	0.70	0.77
MFC.TO	0.63	0.34	0.42	0.48	0.51	0.55	1.00	0.62	0.65	0.68	0.66	0.73	0.77
NA.TO	0.55	0.29	0.47	0.51	0.48	0.53	0.62	1.00	0.69	0.73	0.72	0.74	0.77
TD	0.63	0.32	0.48	0.52	0.54	0.56	0.65	0.69	1.00	0.77	0.82	0.77	0.82
BNS.TO	0.60	0.32	0.52	0.56	0.53	0.59	0.68	0.73	0.77	1.00	0.77	0.80	0.85
RY	0.64	0.35	0.48	0.53	0.54	0.57	0.66	0.72	0.82	0.77	1.00	0.79	0.85
XIU.TO	0.74	0.42	0.58	0.68	0.64	0.70	0.73	0.74	0.77	0.80	0.79	1.00	0.93
Portfolio	0.76	0.48	0.61	0.70	0.74	0.77	0.77	0.77	0.82	0.85	0.85	0.93	1.00

The correlation results are calculated based on daily price changes starting from Mar 2, 2009

fresh start

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