Asset Allocation
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Performance Chart
The chart shows the growth of an initial investment of CA$10,000 in a, 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 month.
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Returns By Period
As of Jul 25, 2026, the a returned 14.52% Year-To-Date and 20.31% of annualized return in the last 10 years.
| Position | 1D | 1M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | ALL TIME* |
|---|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.10% | -0.10% | 9.57% | 11.42% | 20.68% | 20.18% | 13.51% | 13.80% | 9.17% |
Portfolio a | -0.39% | -2.69% | 13.32% | 14.52% | 27.06% | 29.32% | 19.71% | 20.31% | 20.13% |
| Portfolio components: | |||||||||
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 0.73% | 3.62% | 31.46% | 31.42% | 57.36% | 33.84% | 21.20% | 16.56% | 12.01% |
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 0.88% | 2.18% | 15.65% | 20.36% | 43.34% | 28.63% | 23.84% | 16.43% | 10.52% |
HXQ.TO Horizons NASDAQ-100 Index ETF | -1.10% | -4.72% | 13.14% | 14.44% | 25.29% | 24.97% | 16.27% | 21.13% | 21.14% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | -1.29% | -2.49% | -3.82% | 14.46% | 59.33% | 18.63% | 15.78% | 16.02% | 6.13% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | -0.83% | 14.91% | 34.10% | 44.98% | 62.68% | 25.57% | 32.16% | 11.93% | 4.59% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 0.88% | 2.17% | 23.46% | 23.59% | 47.19% | 31.58% | 19.43% | 15.38% | 10.89% |
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | -0.10% | -5.92% | -5.28% | -13.73% | -6.86% | 12.98% | 2.87% | 16.43% | 11.98% |
XST.TO iShares S&P/TSX Capped Consumer Staples Index ETF | 0.84% | -2.90% | 4.50% | 5.83% | 10.33% | 46.09% | 30.02% | 18.64% | 20.68% |
ZEB.TO BMO Equal Weight Banks Index ETF | 0.65% | 1.99% | 31.28% | 32.66% | 66.60% | 35.61% | 21.11% | 16.89% | 14.33% |
ZID.TO BMO MSCI India ESG Leaders Index ETF | 0.91% | -2.52% | -9.16% | -15.05% | -14.33% | 3.07% | 2.83% | 8.69% | 7.66% |
Monthly Returns
Based on dividend-adjusted daily data since Apr 21, 2016, a's average daily return is +0.08%, while the average monthly return is +1.60%. At this rate, an investment would double in approximately 3.6 years.
Historically, 72% of months were positive and 28% were negative. The best month was Apr 2020 with a return of +11.5%, while the worst month was Apr 2022 at -8.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, a closed higher 56% of trading days. The best single day was Aug 9, 2024 with a return of +12.8%, while the worst single day was Mar 16, 2020 at -9.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.39% | 1.25% | -3.03% | 9.57% | 8.25% | 3.24% | -4.38% | 14.52% | |||||
| 2025 | 2.25% | -2.40% | -4.71% | -1.23% | 6.85% | 4.02% | 3.25% | 1.08% | 5.04% | 4.81% | 0.48% | -1.47% | 18.78% |
| 2024 | 3.25% | 5.34% | 1.73% | -2.15% | 3.77% | 4.54% | 1.22% | 11.33% | 2.74% | 0.97% | 5.99% | 1.18% | 47.21% |
| 2023 | 7.61% | 1.14% | 5.29% | 1.48% | 3.97% | 3.93% | 2.61% | 0.43% | -3.04% | -0.78% | 7.20% | 3.27% | 37.92% |
| 2022 | -4.71% | -3.46% | 3.51% | -8.09% | -1.64% | -6.85% | 9.20% | -2.21% | -5.14% | 3.85% | 4.80% | -6.59% | -17.42% |
| 2021 | 0.19% | 2.18% | 2.45% | 2.17% | -0.28% | 6.52% | 2.58% | 4.45% | -3.38% | 4.10% | 2.11% | 1.39% | 27.00% |
Benchmark Metrics
a has an annualized alpha of 8.85%, beta of 0.73, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since April 21, 2016.
- This portfolio captured 114.56% of S&P 500 Index gains but only 87.82% of its losses - a favorable profile for investors.
- This portfolio generated an annualized alpha of 8.85% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 8.85%
- Beta
- 0.73
- R²
- 0.67
- Upside Capture
- 114.56%
- Downside Capture
- 87.82%
Expense Ratio
a has an expense ratio of 0.39%, 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
Return for Risk
Risk / Return Rank
a ranks 82 for risk / return — in the top 82% 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.
Return / Risk — by metrics
The table below presents risk-adjusted performance metrics for a 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 | 2.01 | 1.59 | +0.42 |
| Sortino ratioReturn per unit of downside risk | 2.78 | 2.25 | +0.52 |
| Omega ratioGain probability vs. loss probability | 1.36 | 1.28 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.26 | +1.25 |
| Martin ratioReturn relative to average drawdown | 13.61 | 8.29 | +5.31 |
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 |
|---|---|---|---|---|---|---|
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 98 | 4.68 | 6.10 | 1.84 | 8.09 | 29.53 |
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 91 | 2.34 | 3.07 | 1.42 | 3.98 | 14.47 |
HXQ.TO Horizons NASDAQ-100 Index ETF | 56 | 1.37 | 1.89 | 1.25 | 2.04 | 6.16 |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 63 | 1.53 | 2.00 | 1.26 | 2.50 | 6.85 |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 90 | 2.61 | 3.13 | 1.41 | 3.82 | 11.57 |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 97 | 3.74 | 5.07 | 1.65 | 6.08 | 24.03 |
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | 10 | -0.22 | -0.09 | 0.99 | -0.22 | -0.40 |
XST.TO iShares S&P/TSX Capped Consumer Staples Index ETF | 27 | 0.61 | 1.00 | 1.12 | 0.99 | 2.27 |
ZEB.TO BMO Equal Weight Banks Index ETF | 98 | 4.90 | 6.35 | 1.86 | 7.93 | 33.19 |
ZID.TO BMO MSCI India ESG Leaders Index ETF | 4 | -0.84 | -1.16 | 0.87 | -0.59 | -1.07 |
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Dividends
Dividend yield
a provided a 0.48% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 0.48% | 0.59% | 0.69% | 0.86% | 0.87% | 0.70% | 0.81% | 0.84% | 0.83% | 0.68% | 0.59% | 0.70% |
| Portfolio components: | ||||||||||||
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 2.17% | 2.82% | 3.41% | 3.98% | 3.95% | 3.10% | 3.83% | 3.39% | 3.13% | 2.62% | 2.70% | 2.91% |
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.16% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
HXQ.TO Horizons NASDAQ-100 Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 0.73% | 0.86% | 1.25% | 2.09% | 4.83% | 3.05% | 1.81% | 3.73% | 3.38% | 1.65% | 2.41% | 5.75% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 2.54% | 3.63% | 3.46% | 4.26% | 3.31% | 1.64% | 2.96% | 2.70% | 2.25% | 1.41% | 1.40% | 3.58% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 1.97% | 2.39% | 3.16% | 3.60% | 3.48% | 2.67% | 3.35% | 3.00% | 3.43% | 2.73% | 2.83% | 3.17% |
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.00% | 0.34% | 0.00% | 0.15% | 0.18% | 0.10% |
XST.TO iShares S&P/TSX Capped Consumer Staples Index ETF | 0.67% | 0.68% | 0.87% | 1.57% | 1.48% | 1.37% | 1.48% | 1.46% | 1.62% | 1.80% | 1.03% | 1.24% |
ZEB.TO BMO Equal Weight Banks Index ETF | 2.29% | 2.95% | 3.98% | 4.75% | 4.29% | 3.13% | 4.15% | 3.65% | 3.64% | 3.02% | 3.19% | 3.70% |
ZID.TO BMO MSCI India ESG Leaders Index ETF | 0.81% | 0.69% | 0.28% | 1.18% | 0.29% | 1.24% | 0.11% | 0.11% | 0.74% | 0.38% | 1.15% | 0.64% |
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 a. 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 a was 25.98%, occurring on Mar 16, 2020. Recovery took 69 trading sessions.
The current a drawdown is 4.38%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-25.98%Mar 2020 | 25d | 3mo 9d | 4mo 4dFeb 2020 - Jun 2020 | COVID crash2020 |
-22.86%Jun 2022 | 5mo 18d | 12mo 2d | 1y 5moDec 2021 - Jun 2023 | Bear market2022 |
-18.07%Apr 2025 | 3mo 22d | 2mo 19d | 6mo 11dDec 2024 - Jun 2025 | 2025 selloff2025 |
-15.64%Dec 2018 | 2mo 27d | 2mo 27d | 5mo 24dSep 2018 - Mar 2019 | Rate-hike selloffLate 2018 |
-9.92%Aug 2024 | 27d | 2d | 29dJul 2024 - Aug 2024 | — |
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 2.67, reflecting the diversification based on asset allocation. Your portfolio is dominated by one or two holdings, which significantly increases concentration risk. Consider rebalancing toward more even weights or adding additional positions.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.37 | 1.46 | 1.40 | 1.34 | 1.35 |
The portfolio has a diversification ratio of 1.35, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.
a correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2016 | 0.75 |
Benchmark Correlations
Correlation vs. S&P 500 Index. ZUQ.TO has the highest benchmark correlation at 0.71, while XST.TO has the lowest at 0.27.
Asset Correlations Table
| XST.TO | XEG.TO | ZID.TO | XBM.TO | CJP.NEO | XIT.TO | HXQ.TO | CEW.TO | ZEB.TO | ZUQ.TO | XFN.TO | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XST.TO | 1.00 | 0.07 | 0.19 | 0.10 | 0.20 | 0.28 | 0.23 | 0.28 | 0.27 | 0.32 | 0.31 |
| XEG.TO | 0.07 | 1.00 | 0.12 | 0.46 | 0.33 | 0.12 | 0.13 | 0.37 | 0.39 | 0.15 | 0.38 |
| ZID.TO | 0.19 | 0.12 | 1.00 | 0.27 | 0.31 | 0.29 | 0.35 | 0.32 | 0.31 | 0.41 | 0.35 |
| XBM.TO | 0.10 | 0.46 | 0.27 | 1.00 | 0.40 | 0.31 | 0.35 | 0.47 | 0.47 | 0.34 | 0.50 |
| CJP.NEO | 0.20 | 0.33 | 0.31 | 0.40 | 1.00 | 0.32 | 0.39 | 0.49 | 0.48 | 0.43 | 0.51 |
| XIT.TO | 0.28 | 0.12 | 0.29 | 0.31 | 0.32 | 1.00 | 0.64 | 0.35 | 0.35 | 0.59 | 0.43 |
| HXQ.TO | 0.23 | 0.13 | 0.35 | 0.35 | 0.39 | 0.64 | 1.00 | 0.35 | 0.35 | 0.82 | 0.42 |
| CEW.TO | 0.28 | 0.37 | 0.32 | 0.47 | 0.49 | 0.35 | 0.35 | 1.00 | 0.89 | 0.43 | 0.91 |
| ZEB.TO | 0.27 | 0.39 | 0.31 | 0.47 | 0.48 | 0.35 | 0.35 | 0.89 | 1.00 | 0.41 | 0.94 |
| ZUQ.TO | 0.32 | 0.15 | 0.41 | 0.34 | 0.43 | 0.59 | 0.82 | 0.43 | 0.41 | 1.00 | 0.49 |
| XFN.TO | 0.31 | 0.38 | 0.35 | 0.50 | 0.51 | 0.43 | 0.42 | 0.91 | 0.94 | 0.49 | 1.00 |
Find what a is missing
See which holdings overlap, where a is concentrated, and which low-correlation assets could fill the gaps.
Analyze Diversification