Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | Government Bonds, Short-Term Bond | 20% |
TLT iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 20% |
GLD SPDR Gold Shares | Gold, Precious Metals | 20% |
VTI Vanguard Total Stock Market ETF | Large Cap Blend Equities | 20% |
IJS iShares S&P SmallCap 600 Value ETF | Small Cap Value Equities | 20% |
Find the right asset allocation for Golden Butterfly Portfolio
Add portfolio to the optimizer to find optimal allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio OptimizerPerformance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Golden Butterfly Portfolio, 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.
Loading charts...
Returns By Period
As of Jun 23, 2026, the Golden Butterfly Portfolio returned 5.46% Year-To-Date and 8.31% of annualized return in the last 10 years.
| Position | 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | -0.37% | -0.01% | 9.16% | 8.64% | 25.22% | 19.78% | 11.99% | 13.88% |
Portfolio Golden Butterfly Portfolio | -0.40% | -0.15% | 5.46% | 4.24% | 19.55% | 13.74% | 6.65% | 8.31% |
| Portfolio components: | ||||||||
GLD SPDR Gold Shares | -0.65% | -7.06% | -2.96% | -5.79% | 24.01% | 29.23% | 18.28% | 11.80% |
IJS iShares S&P SmallCap 600 Value ETF | -0.23% | 3.17% | 17.64% | 15.52% | 39.39% | 15.42% | 6.48% | 10.51% |
SHY iShares 1-3 Year Treasury Bond ETF | -0.10% | 0.04% | 0.36% | 0.48% | 2.93% | 4.07% | 1.74% | 1.61% |
TLT iShares 20+ Year Treasury Bond ETF | -0.76% | 2.06% | 0.64% | 0.41% | 4.08% | -1.93% | -6.59% | -1.75% |
VTI Vanguard Total Stock Market ETF | -0.32% | 0.55% | 10.35% | 9.59% | 27.18% | 21.19% | 12.36% | 15.31% |
Monthly Returns
Based on dividend-adjusted daily data since Nov 18, 2004, Golden Butterfly Portfolio's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +7.2%, while the worst month was Oct 2008 at -11.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, Golden Butterfly Portfolio closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +4.4%, while the worst single day was Mar 12, 2020 at -4.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.10% | 3.06% | -5.05% | 3.50% | 1.16% | -1.12% | 5.46% | ||||||
| 2025 | 2.49% | 0.18% | -0.53% | -0.32% | 1.35% | 2.63% | 0.36% | 3.38% | 4.10% | 1.43% | 1.86% | 0.15% | 18.33% |
| 2024 | -1.53% | 1.11% | 3.29% | -2.94% | 2.86% | 0.53% | 4.79% | 1.12% | 2.18% | -0.86% | 3.28% | -3.53% | 10.38% |
| 2023 | 6.60% | -3.04% | 2.00% | 0.02% | -1.58% | 2.54% | 1.94% | -2.21% | -4.74% | -1.36% | 6.25% | 5.91% | 12.16% |
| 2022 | -3.35% | 0.81% | -0.36% | -5.49% | -0.58% | -4.08% | 3.62% | -3.27% | -6.49% | 2.92% | 4.99% | -2.54% | -13.64% |
| 2021 | -0.18% | 0.59% | 0.92% | 2.57% | 2.44% | -0.36% | 0.75% | 0.83% | -2.45% | 2.62% | -0.41% | 1.77% | 9.36% |
Benchmark Metrics
Golden Butterfly Portfolio has an annualized alpha of 4.52%, beta of 0.36, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since November 18, 2004.
- This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (47.83%) than losses (37.31%) - typical of diversified or defensive assets.
- This portfolio generated an annualized alpha of 4.52% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.36 indicates this portfolio moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 4.52%
- Beta
- 0.36
- R²
- 0.56
- Upside Capture
- 47.83%
- Downside Capture
- 37.31%
Expense Ratio
Golden Butterfly Portfolio has an expense ratio of 0.20%, 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.
Return for Risk
Risk / Return Rank
Golden Butterfly Portfolio ranks 38 for risk / return — below 38% of Portfolios on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below presents risk-adjusted performance metrics for Golden Butterfly Portfolio and compares them with S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 1.98 | 2.03 | -0.05 |
| Sortino ratioReturn per unit of downside risk | 2.70 | 2.75 | -0.06 |
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.78 | +0.03 |
| Martin ratioReturn relative to average drawdown | 10.05 | 12.44 | -2.39 |
How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.
| Position | Risk / Return Rank | Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio |
|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 24 | 0.88 | 1.24 | 1.18 | 0.99 | 2.68 |
IJS iShares S&P SmallCap 600 Value ETF | 72 | 2.16 | 3.07 | 1.37 | 4.26 | 14.04 |
SHY iShares 1-3 Year Treasury Bond ETF | 73 | 2.14 | 3.39 | 1.43 | 3.31 | 12.93 |
TLT iShares 20+ Year Treasury Bond ETF | 14 | 0.43 | 0.69 | 1.08 | 0.54 | 1.29 |
VTI Vanguard Total Stock Market ETF | 68 | 2.14 | 2.90 | 1.38 | 3.06 | 13.68 |
Loading charts...
Dividends
Dividend yield
Golden Butterfly Portfolio provided a 2.12% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.12% | 2.20% | 2.25% | 1.85% | 1.42% | 0.90% | 0.97% | 1.56% | 1.63% | 1.31% | 1.29% | 1.34% |
| Portfolio components: | ||||||||||||
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% |
IJS iShares S&P SmallCap 600 Value ETF | 1.35% | 1.62% | 1.78% | 1.42% | 1.46% | 1.52% | 1.00% | 1.66% | 1.75% | 1.41% | 1.22% | 1.59% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
TLT iShares 20+ Year Treasury Bond ETF | 4.55% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VTI Vanguard Total Stock Market ETF | 1.02% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Golden Butterfly Portfolio. 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 Golden Butterfly Portfolio was 20.32%, occurring on Nov 20, 2008. Recovery took 205 trading sessions.
The current Golden Butterfly Portfolio drawdown is 1.88%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -20.32%Nov 2008 | 6mo 3d | 10mo | 1y 3moMay 2008 - Sep 2009 |
Bear market2022 | -19.59%Oct 2022 | 11mo 14d | 1y 8mo | 2y 8moNov 2021 - Jul 2024 |
COVID crash2020 | -15.83%Mar 2020 | 23d | 2mo 17d | 3mo 10dFeb 2020 - Jun 2020 |
2006 pullback2006 | -8.35%Jun 2006 | 1mo 4d | 4mo 26d | 6moMay 2006 - Nov 2006 |
2016 pullback2016 | -8.27%Jan 2016 | 12mo 1d | 2mo 10d | 1y 2moJan 2015 - Mar 2016 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Diversification
AI Analysis
The gist
The portfolio is a fairly clean five-asset bet on owning the market, some duration, and a little gold, with the usual split between the things that cushion shocks and the things that actually drive risk. The diversification math says this is not a disguised single-factor pile; it is a mixed bag with real offsets.
The numbers
- Diversification ratio is 1.69 incept and 90.0th percentile on the platform, which is strong; even the 1Y 1.43 reading sits above average at 63.5th percentile.
- Effective asset count is 5.0 of 5, so the weights are spread evenly rather than concentrated in one sleeve.
- Correlations are mostly tame: mean pairwise correlation is 0.12, with only one clearly tight equity pair, VTI (Large Cap Blend Equities) / IJS (Small Cap Value Equities) at 0.85.
The good
- The portfolio has three distinct drivers: short rates via SHY (Government Bonds, Short-Term Bond), duration via TLT (Government Bonds, Long-Term Bond), and equity beta via VTI and IJS.
- GLD (Gold, Precious Metals) is genuinely different enough to matter; its low correlation to equities helps the mix.
The bad
- VTI and IJS are doing much of the same job, so the equity sleeve is diversified, but not in a philosophical sense.
- SHY and TLT both live in the rate complex, so the bond sleeve is two maturities of the same macro argument.
The ugly
- In a regime where inflation expectations and real yields rise together, the usual offset between TLT and equities can weaken, and the portfolio can start feeling like one rates-sensitive object with a gold accent.
Next steps
- Portfolios with this correlation profile are often most robust when the non-equity sleeves are explicitly treated as separate risk regimes: cash-like defense, duration, and crisis hedge.
- The gap between 10Y and 1Y diversification ratios suggests the correlations have become less helpful recently, which is the sort of thing that usually makes a neat allocation look less neat.
Diversification Metrics
Number of Effective Assets
The portfolio contains 5 assets, with an effective number of assets of 5.00, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.43 | 1.48 | 1.51 | 1.60 | 1.69 |
The portfolio has a diversification ratio of 1.69, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.
Golden Butterfly Portfolio correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.72 |
Benchmark Correlations
Correlation vs. S&P 500 Index. VTI has the highest benchmark correlation at 0.99, while TLT has the lowest at -0.24.
Asset Correlations Table
Find what Golden Butterfly Portfolio is missing
See which holdings overlap, where Golden Butterfly Portfolio is concentrated, and which low-correlation assets could fill the gaps.
Analyze Diversification