Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
AVGO Broadcom Inc. | Technology | 20% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | Long-Short | 5% |
COST Costco Wholesale Corporation | Consumer Defensive | 10% |
GLD SPDR Gold Shares | Gold, Precious Metals | 25% |
NVDA NVIDIA Corporation | Technology | 30% |
PGR The Progressive Corporation | Financial Services | 10% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in OVER SPY - DELEVERAGED - enhanced, 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 year.
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The earliest data available for this chart is Sep 13, 2011, corresponding to the inception date of BTAL
Returns By Period
As of Apr 16, 2026, the OVER SPY - DELEVERAGED - enhanced returned 8.17% Year-To-Date and 43.05% of annualized return in the last 10 years.
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.26% | 4.84% | 2.86% | 6.22% | 33.47% | 19.26% | 10.96% | 12.89% |
Portfolio OVER SPY - DELEVERAGED - enhanced | 0.13% | 5.23% | 8.17% | 8.02% | 49.36% | 62.60% | 46.96% | 43.05% |
| Portfolio components: | ||||||||
NVDA NVIDIA Corporation | -0.26% | 9.03% | 6.36% | 9.11% | 89.87% | 94.45% | 65.71% | 71.43% |
COST Costco Wholesale Corporation | 0.25% | -0.90% | 14.64% | 6.95% | 2.57% | 27.68% | 22.98% | 22.55% |
AVGO Broadcom Inc. | 0.44% | 24.27% | 15.37% | 12.97% | 130.05% | 87.67% | 55.86% | 41.83% |
PGR The Progressive Corporation | 1.11% | -0.11% | -4.92% | -2.36% | -21.25% | 17.17% | 18.17% | 23.05% |
GLD SPDR Gold Shares | -0.09% | -4.18% | 11.04% | 11.01% | 43.13% | 33.36% | 21.48% | 14.09% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 0.23% | -8.80% | -10.70% | -14.57% | -37.48% | -11.37% | -3.14% | -3.76% |
Monthly Returns
Based on dividend-adjusted daily data since Sep 14, 2011, OVER SPY - DELEVERAGED - enhanced's average daily return is +0.13%, while the average monthly return is +2.66%. At this rate, an investment would double in approximately 2.2 years.
Historically, 70% of months were positive and 30% were negative. The best month was May 2023 with a return of +19.6%, while the worst month was Apr 2022 at -12.7%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 3 months.
On a daily basis, OVER SPY - DELEVERAGED - enhanced closed higher 56% of trading days. The best single day was Nov 11, 2016 with a return of +12.9%, while the worst single day was Mar 16, 2020 at -10.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.54% | 0.54% | -5.08% | 9.47% | 8.17% | ||||||||
| 2025 | -1.23% | 2.39% | -4.41% | 4.38% | 10.30% | 5.71% | 3.22% | 1.10% | 7.48% | 4.56% | 0.29% | -1.79% | 35.92% |
| 2024 | 10.26% | 13.00% | 8.34% | -1.31% | 12.47% | 9.30% | -1.52% | 3.82% | 2.67% | 4.03% | 2.11% | 4.34% | 90.54% |
| 2023 | 13.87% | 5.63% | 11.32% | -0.45% | 19.63% | 7.26% | 6.21% | 3.58% | -8.20% | -1.07% | 10.06% | 7.56% | 102.27% |
| 2022 | -8.06% | 1.33% | 7.08% | -12.68% | 0.18% | -7.25% | 5.46% | -5.37% | -8.17% | 4.88% | 11.43% | -3.14% | -16.04% |
| 2021 | -1.71% | -0.22% | 0.39% | 5.37% | 5.06% | 6.99% | 0.46% | 6.74% | -4.64% | 12.73% | 13.56% | 0.74% | 53.79% |
Benchmark Metrics
OVER SPY - DELEVERAGED - enhanced has an annualized alpha of 21.89%, beta of 0.91, and R² of 0.51 versus S&P 500 Index. Calculated based on daily prices since September 14, 2011.
- This portfolio captured 147.80% of S&P 500 Index gains but only 46.31% of its losses — a favorable profile for investors.
- This portfolio generated an annualized alpha of 21.89% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
- With beta of 0.91 and R² of 0.51, 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
- 21.89%
- Beta
- 0.91
- R²
- 0.51
- Upside Capture
- 147.80%
- Downside Capture
- 46.31%
Expense Ratio
OVER SPY - DELEVERAGED - enhanced has an expense ratio of 0.21%, 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
OVER SPY - DELEVERAGED - enhanced ranks 60 for risk / return — on par with similar portfolios. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.82 | 2.59 | +0.23 |
Sortino ratioReturn per unit of downside risk | 3.70 | 3.60 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.49 | 1.48 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 4.50 | 3.33 | +1.17 |
Martin ratioReturn relative to average drawdown | 17.29 | 15.04 | +2.25 |
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 | |
|---|---|---|---|---|---|---|
NVDA NVIDIA Corporation | 85 | 2.66 | 3.25 | 1.40 | 3.92 | 9.78 |
COST Costco Wholesale Corporation | 33 | 0.14 | 0.33 | 1.04 | 0.07 | 0.14 |
AVGO Broadcom Inc. | 88 | 3.08 | 3.61 | 1.47 | 4.37 | 10.54 |
PGR The Progressive Corporation | 7 | -0.93 | -1.22 | 0.86 | -0.76 | -1.18 |
GLD SPDR Gold Shares | 35 | 1.60 | 2.01 | 1.30 | 2.53 | 8.43 |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 0 | -1.80 | -2.81 | 0.71 | -0.99 | -1.45 |
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Dividends
Dividend yield
OVER SPY - DELEVERAGED - enhanced provided a 1.01% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.01% | 0.54% | 0.47% | 0.97% | 0.79% | 1.14% | 1.25% | 1.31% | 1.07% | 1.06% | 0.78% | 1.21% |
| Portfolio components: | ||||||||||||
NVDA NVIDIA Corporation | 0.02% | 0.02% | 0.03% | 0.03% | 0.11% | 0.05% | 0.12% | 0.27% | 0.46% | 0.29% | 0.45% | 1.20% |
COST Costco Wholesale Corporation | 0.53% | 0.59% | 0.49% | 2.87% | 0.76% | 0.54% | 3.38% | 0.86% | 1.08% | 4.81% | 1.09% | 4.06% |
AVGO Broadcom Inc. | 0.62% | 0.70% | 0.94% | 1.71% | 3.02% | 2.24% | 3.05% | 3.54% | 3.11% | 1.87% | 1.43% | 1.13% |
PGR The Progressive Corporation | 6.83% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
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% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.79% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
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 OVER SPY - DELEVERAGED - enhanced. 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 OVER SPY - DELEVERAGED - enhanced was 29.23%, occurring on Oct 14, 2022. Recovery took 95 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -29.23% | Dec 28, 2021 | 202 | Oct 14, 2022 | 95 | Mar 3, 2023 | 297 |
| -24.3% | Oct 2, 2018 | 58 | Dec 24, 2018 | 175 | Sep 5, 2019 | 233 |
| -23.54% | Feb 20, 2020 | 18 | Mar 16, 2020 | 43 | May 15, 2020 | 61 |
| -16.83% | Jun 20, 2024 | 34 | Aug 7, 2024 | 35 | Sep 26, 2024 | 69 |
| -16.07% | Feb 20, 2025 | 32 | Apr 4, 2025 | 26 | May 13, 2025 | 58 |
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 6 assets, with an effective number of assets of 4.65, 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
| Benchmark | GLD | PGR | BTAL | COST | AVGO | NVDA | Portfolio | |
|---|---|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.04 | 0.45 | -0.52 | 0.53 | 0.64 | 0.61 | 0.69 |
| GLD | 0.04 | 1.00 | -0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.19 |
| PGR | 0.45 | -0.01 | 1.00 | -0.08 | 0.33 | 0.22 | 0.19 | 0.31 |
| BTAL | -0.52 | 0.01 | -0.08 | 1.00 | -0.14 | -0.40 | -0.38 | -0.36 |
| COST | 0.53 | 0.02 | 0.33 | -0.14 | 1.00 | 0.32 | 0.31 | 0.42 |
| AVGO | 0.64 | 0.02 | 0.22 | -0.40 | 0.32 | 1.00 | 0.59 | 0.77 |
| NVDA | 0.61 | 0.02 | 0.19 | -0.38 | 0.31 | 0.59 | 1.00 | 0.90 |
| Portfolio | 0.69 | 0.19 | 0.31 | -0.36 | 0.42 | 0.77 | 0.90 | 1.00 |