TEST Taxed Portfolio

Asset Allocation

Position	Category/Sector	Target Weight
IWY iShares Russell Top 200 Growth ETF	Large Cap Growth Equities	35%
MCHI iShares MSCI China ETF	China Equities	10%
SMH VanEck Semiconductor ETF	Semiconductors, Technology Equities	15%
VOO Vanguard S&P 500 ETF	S&P 500	40%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in TEST Taxed 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 never rebalanced.

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The earliest data available for this chart is Mar 31, 2011, corresponding to the inception date of MCHI

Returns By Period

As of Apr 2, 2026, the TEST Taxed Portfolio returned -0.91% Year-To-Date and 19.73% 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 TEST Taxed Portfolio	0.06%	-2.06%	-0.91%	2.18%	37.93%	28.24%	16.77%	19.73%
Portfolio components:
SMH VanEck Semiconductor ETF	0.09%	0.32%	8.94%	16.35%	83.82%	44.85%	26.17%	31.69%
IWY iShares Russell Top 200 Growth ETF	0.00%	-4.01%	-9.30%	-8.75%	17.56%	22.33%	13.61%	17.62%
MCHI iShares MSCI China ETF	-0.29%	-1.86%	-7.04%	-15.63%	5.39%	6.34%	-5.77%	4.71%
VOO Vanguard S&P 500 ETF	0.11%	-3.33%	-3.55%	-1.41%	17.60%	18.47%	11.96%	14.19%

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

Monthly Returns

Based on dividend-adjusted daily data since Apr 1, 2011, TEST Taxed Portfolio's average daily return is +0.07%, while the average monthly return is +1.41%. At this rate, your investment would double in approximately 4.1 years.

Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +13.3%, while the worst month was Apr 2022 at -11.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, TEST Taxed Portfolio closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +12.4%, while the worst single day was Mar 16, 2020 at -12.2%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	4.38%	-1.20%	-5.29%	1.46%									-0.91%
2025	1.49%	-2.89%	-7.64%	0.21%	9.20%	9.23%	3.26%	1.26%	7.54%	5.99%	-1.77%	0.72%	28.31%
2024	3.34%	8.58%	3.60%	-4.14%	8.14%	6.50%	-2.33%	0.90%	2.20%	-1.07%	3.77%	0.19%	32.94%
2023	9.92%	-1.35%	7.10%	-0.78%	6.63%	6.18%	4.18%	-1.73%	-5.76%	-2.31%	11.47%	5.75%	44.94%
2022	-7.68%	-3.70%	2.87%	-11.72%	1.04%	-10.06%	11.47%	-5.81%	-10.81%	4.99%	9.13%	-7.48%	-27.17%
2021	0.67%	2.36%	2.40%	4.20%	0.38%	4.45%	1.79%	3.17%	-5.30%	7.59%	3.34%	2.74%	30.99%

Benchmark Metrics

TEST Taxed Portfolio has an annualized alpha of 4.16%, beta of 1.11, and R² of 0.91 versus S&P 500 Index. Calculated based on daily prices since April 01, 2011.

This portfolio captured 123.94% of S&P 500 Index gains but only 99.45% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 4.16% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
With beta of 1.11 and R² of 0.91, 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: 4.16%

Beta: 1.11

R²: 0.91

Upside Capture: 123.94%

Downside Capture: 99.45%

Expense Ratio

TEST Taxed Portfolio has an expense ratio of 0.19%, 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.

MCHI

iShares MSCI China ETF

SMH

VanEck Semiconductor ETF

IWY

iShares Russell Top 200 Growth ETF

VOO

Vanguard S&P 500 ETF

Return for Risk

Risk / Return Rank

TEST Taxed Portfolio ranks 76 for risk / return — better than 76% of portfolios on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

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	1.51	0.88	+0.63
Sortino ratio Return per unit of downside risk	2.16	1.37	+0.79
Omega ratio Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio Return relative to maximum drawdown	2.89	1.39	+1.50
Martin ratio Return relative to average drawdown	11.36	6.43	+4.93
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
SMH VanEck Semiconductor ETF	94	2.28	2.89	1.41	5.34	18.94
IWY iShares Russell Top 200 Growth ETF	38	0.79	1.29	1.18	1.12	3.67
MCHI iShares MSCI China ETF	16	0.23	0.47	1.06	0.27	0.70
VOO Vanguard S&P 500 ETF	54	0.98	1.49	1.23	1.53	7.13

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.

TEST Taxed Portfolio Sharpe ratios as of Apr 2, 2026 (values are recalculated daily):

1-Year: 1.51
5-Year: 0.73
10-Year: 0.90
All Time: 0.84

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 falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of TEST Taxed Portfolio 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

TEST Taxed Portfolio provided a 0.88% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.88%	0.84%	0.94%	1.17%	1.34%	0.86%	1.07%	1.49%	1.73%	1.52%	1.62%	1.99%
Portfolio components:
SMH VanEck Semiconductor ETF	0.28%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
IWY iShares Russell Top 200 Growth ETF	0.39%	0.36%	0.42%	0.68%	0.88%	0.50%	0.71%	1.06%	1.32%	1.26%	1.51%	1.58%
MCHI iShares MSCI China ETF	2.28%	2.12%	2.31%	2.66%	1.78%	1.04%	1.04%	1.45%	1.60%	1.56%	1.66%	2.76%
VOO Vanguard S&P 500 ETF	1.18%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

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 TEST Taxed 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 TEST Taxed Portfolio was 33.81%, occurring on Oct 14, 2022. Recovery took 290 trading sessions.

The current TEST Taxed Portfolio drawdown is 7.00%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-33.81%	Dec 28, 2021	202	Oct 14, 2022	290	Dec 11, 2023	492
-31.48%	Feb 20, 2020	23	Mar 23, 2020	72	Jul 6, 2020	95
-24.58%	Jan 24, 2025	52	Apr 8, 2025	52	Jun 24, 2025	104
-20.82%	Aug 30, 2018	80	Dec 24, 2018	68	Apr 3, 2019	148
-19.57%	May 2, 2011	108	Oct 3, 2011	85	Feb 3, 2012	193

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 4 assets, with an effective number of assets of 3.17, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.

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	MCHI	SMH	IWY	VOO	Portfolio
Benchmark	1.00	0.56	0.77	0.93	1.00	0.94
MCHI	0.56	1.00	0.53	0.54	0.56	0.61
SMH	0.77	0.53	1.00	0.78	0.77	0.91
IWY	0.93	0.54	0.78	1.00	0.93	0.95
VOO	1.00	0.56	0.77	0.93	1.00	0.94
Portfolio	0.94	0.61	0.91	0.95	0.94	1.00

The correlation results are calculated based on daily price changes starting from Apr 1, 2011

TEST Taxed Portfolio

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