Sahm 2026

Asset Allocation

Position	Category/Sector	Target Weight
ADBE Adobe Inc	Technology	2.50%
AMKR Amkor Technology, Inc.	Technology	2.90%
APG APi Group Corporation	Industrials	3.20%
BTAL AGFiQ US Market Neutral Anti-Beta Fund	Long-Short	5.40%
C Citigroup Inc.	Financial Services	2.70%
CRS Carpenter Technology Corporation	Industrials	3.50%
DBMF iM DBi Managed Futures Strategy ETF	Hedge Fund, Actively Managed	4.60%
EFAV iShares Edge MSCI Min Vol EAFE ETF	Foreign Large Cap Equities	8.50%
FCFS FirstCash, Inc.	Financial Services	3.10%
FXI iShares China Large-Cap ETF	China Equities	3.70%
HECA Hedgeye Capital Allocation ETF	Global Allocation	4.80%
ILF iShares Latin American 40 ETF	Latin America Equities	2.90%
ITA iShares U.S. Aerospace & Defense ETF	Industrials Equities, Aerospace & Defense	4%
KMLM KFA Mount Lucas Index Strategy ETF	Long-Short, Actively Managed	4.70%
LRN Stride, Inc.	Consumer Defensive	3.70%
MCK McKesson Corporation	Healthcare	3.50%
MPWR Monolithic Power Systems, Inc.	Technology	3.50%
NFLX Netflix, Inc.	Communication Services	3.60%
NTR Nutrien Ltd.	Basic Materials	3.70%
SDS ProShares UltraShort S&P500	Leveraged Equities, Leveraged	2.50%
SPLV Invesco S&P 500 Low Volatility ETF	S&P 500, Large Cap Value Equities	6.30%
USMV iShares MSCI USA Minimum Volatility Factor ETF	Large Cap Blend Equities	4.90%
UTES Virtus Reaves Utilities ETF	Utilities Equities, Actively Managed	4.90%
VSEC VSE Corporation	Industrials	3.10%
XLE State Street Energy Select Sector SPDR ETF	Energy Equities	3.80%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Sahm 2026, 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 Jul 1, 2025, corresponding to the inception date of HECA

Returns By Period

	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 Sahm 2026	0.44%	-0.91%	9.23%	10.49%	—	—	—	—
Portfolio components:
ADBE Adobe Inc	0.64%	-10.36%	-30.59%	-30.89%	-37.03%	-13.86%	-12.86%	9.90%
AMKR Amkor Technology, Inc.	0.45%	4.93%	18.51%	58.18%	153.64%	23.86%	15.27%	24.39%
APG APi Group Corporation	1.20%	-2.91%	9.85%	22.04%	73.53%	41.15%	23.89%	—
CRS Carpenter Technology Corporation	-3.17%	-2.39%	24.42%	58.76%	109.69%	107.80%	58.91%	30.03%
C Citigroup Inc.	-0.04%	4.05%	-0.72%	19.73%	64.78%	39.92%	13.43%	13.92%
FCFS FirstCash, Inc.	5.09%	2.23%	25.51%	34.54%	65.28%	29.28%	25.81%	17.53%
MCK McKesson Corporation	1.37%	-11.19%	7.89%	16.76%	28.01%	35.09%	36.27%	19.69%
MPWR Monolithic Power Systems, Inc.	-0.09%	4.31%	23.65%	20.65%	90.80%	32.41%	25.85%	34.35%
LRN Stride, Inc.	0.88%	3.45%	38.06%	-38.28%	-31.68%	31.85%	23.07%	24.59%
VSEC VSE Corporation	-3.53%	-14.55%	7.18%	11.83%	49.31%	60.85%	36.49%	19.30%

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

Monthly Returns

Based on dividend-adjusted daily data since Jul 2, 2025, Sahm 2026's average daily return is +0.08%, while the average monthly return is +1.54%. At this rate, your investment would double in approximately 3.8 years.

Historically, 70% of months were positive and 30% were negative. The best month was Jan 2026 with a return of +5.8%, while the worst month was Mar 2026 at -3.0%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.

On a daily basis, Sahm 2026 closed higher 55% of trading days. The best single day was Feb 6, 2026 with a return of +2.1%, while the worst single day was Oct 29, 2025 at -2.3%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.83%	5.47%	-3.00%	0.88%									9.23%
2025							-0.47%	3.13%	2.84%	-0.73%	1.42%	0.01%	6.28%

Benchmark Metrics

Sahm 2026 has an annualized alpha of 16.26%, beta of 0.60, and R² of 0.51 versus S&P 500 Index. Calculated based on daily prices since July 02, 2025.

This portfolio captured 104.17% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -43.97%) — a profile typical of hedging or uncorrelated assets.
This portfolio generated an annualized alpha of 16.26% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
Beta of 0.60 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: 16.26%

Beta: 0.60

R²: 0.51

Upside Capture: 104.17%

Downside Capture: -43.97%

Expense Ratio

Sahm 2026 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

BTAL

AGFiQ US Market Neutral Anti-Beta Fund

HECA

Hedgeye Capital Allocation ETF

SDS

ProShares UltraShort S&P500

KMLM

KFA Mount Lucas Index Strategy ETF

DBMF

iM DBi Managed Futures Strategy ETF

FXI

iShares China Large-Cap ETF

UTES

Virtus Reaves Utilities ETF

ILF

iShares Latin American 40 ETF

ITA

iShares U.S. Aerospace & Defense ETF

SPLV

Invesco S&P 500 Low Volatility ETF

Return for Risk

Return / Risk — by metrics

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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
ADBE Adobe Inc	5	-1.20	-1.69	0.79	-0.83	-1.69
AMKR Amkor Technology, Inc.	92	2.31	2.87	1.38	6.09	16.55
APG APi Group Corporation	93	2.46	3.30	1.43	5.54	19.08
CRS Carpenter Technology Corporation	91	2.15	2.89	1.39	5.98	13.90
C Citigroup Inc.	87	1.97	2.38	1.36	3.56	11.59
FCFS FirstCash, Inc.	92	2.30	3.02	1.41	5.23	19.20
MCK McKesson Corporation	73	0.97	1.65	1.22	2.33	6.05
MPWR Monolithic Power Systems, Inc.	85	1.63	2.30	1.31	4.09	10.41
LRN Stride, Inc.	24	-0.47	-0.10	0.97	-0.48	-0.81
VSEC VSE Corporation	73	1.05	1.68	1.21	1.91	6.93

Sharpe Ratio

There isn't enough data available to calculate the Sharpe ratio for Sahm 2026. This metric is based on the past 12 months of trading data. Please check back later for updated information.

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Dividends

Dividend yield

Sahm 2026 provided a 1.91% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.91%	2.09%	2.14%	2.07%	2.69%	2.17%	1.35%	2.10%	1.48%	1.07%	1.22%	1.03%
Portfolio components:
ADBE Adobe Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AMKR Amkor Technology, Inc.	0.71%	0.84%	2.82%	0.91%	0.94%	0.69%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%
APG APi Group Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CRS Carpenter Technology Corporation	0.20%	0.25%	0.47%	1.13%	2.17%	2.74%	2.75%	1.61%	2.13%	1.41%	1.99%	2.38%
C Citigroup Inc.	2.05%	1.99%	3.10%	4.04%	4.51%	3.38%	3.31%	2.40%	2.96%	1.29%	0.71%	0.31%
FCFS FirstCash, Inc.	0.82%	1.00%	1.41%	1.25%	1.45%	1.56%	1.54%	1.27%	1.26%	1.14%	1.20%	0.00%
MCK McKesson Corporation	0.36%	0.37%	0.47%	0.50%	0.54%	0.72%	0.95%	1.16%	1.32%	0.80%	0.80%	0.53%
MPWR Monolithic Power Systems, Inc.	0.60%	0.69%	0.85%	0.63%	0.85%	0.49%	0.55%	0.90%	1.03%	0.71%	0.98%	1.26%
LRN Stride, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VSEC VSE Corporation	0.22%	0.23%	0.42%	0.77%	0.85%	0.59%	0.94%	0.89%	1.00%	0.54%	0.51%	0.68%

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 Sahm 2026. 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 Sahm 2026 was 5.07%, occurring on Mar 30, 2026. The portfolio has not yet recovered.

The current Sahm 2026 drawdown is 2.77%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-5.07%	Mar 3, 2026	20	Mar 30, 2026	—	—	—
-4.99%	Oct 28, 2025	18	Nov 20, 2025	29	Jan 5, 2026	47
-2.36%	Oct 9, 2025	2	Oct 10, 2025	6	Oct 20, 2025	8
-1.35%	Feb 12, 2026	1	Feb 12, 2026	5	Feb 20, 2026	6
-1.16%	Jul 7, 2025	8	Jul 16, 2025	5	Jul 23, 2025	13

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 25 assets, with an effective number of assets of 22.59, 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	NFLX	XLE	NTR	ADBE	MCK	KMLM	LRN	FCFS	SPLV	UTES	CRS	FXI	EFAV	C	MPWR	VSEC	AMKR	DBMF	USMV	ILF	ITA	HECA	APG	BTAL	SDS	Portfolio
Benchmark	1.00	0.18	0.04	0.04	0.22	0.14	0.10	0.25	0.19	0.17	0.40	0.37	0.45	0.44	0.61	0.59	0.51	0.57	0.50	0.54	0.58	0.57	0.60	0.63	-0.73	-1.00	0.70
NFLX	0.18	1.00	-0.06	0.00	0.20	0.01	-0.03	0.24	0.08	0.06	-0.01	0.05	-0.02	-0.03	0.11	-0.02	-0.07	-0.04	0.01	0.23	0.03	0.12	0.07	0.06	-0.03	-0.19	0.11
XLE	0.04	-0.06	1.00	0.45	0.04	-0.06	0.22	0.03	0.11	0.17	-0.01	0.02	0.08	0.15	0.07	-0.01	0.12	0.12	0.15	0.13	0.19	0.06	0.19	0.01	-0.09	-0.04	0.25
NTR	0.04	0.00	0.45	1.00	0.05	0.11	0.22	0.06	0.05	0.11	0.14	0.07	0.15	0.15	-0.07	0.01	0.04	0.06	0.24	0.12	0.11	0.06	0.23	0.07	0.01	-0.04	0.33
ADBE	0.22	0.20	0.04	0.05	1.00	-0.14	0.04	0.23	0.01	0.17	-0.23	-0.05	0.13	0.10	0.16	-0.01	-0.01	0.03	0.07	0.44	0.05	-0.03	0.08	0.05	0.03	-0.22	0.17
MCK	0.14	0.01	-0.06	0.11	-0.14	1.00	-0.02	0.06	0.15	0.37	0.15	0.15	0.05	0.17	0.07	0.00	0.10	-0.09	0.01	0.37	0.04	0.15	-0.01	0.10	0.07	-0.14	0.29
KMLM	0.10	-0.03	0.22	0.22	0.04	-0.02	1.00	-0.05	0.08	0.02	0.06	0.00	0.16	0.15	0.10	0.08	0.04	0.11	0.40	0.07	0.27	0.12	0.24	0.05	-0.12	-0.10	0.24
LRN	0.25	0.24	0.03	0.06	0.23	0.06	-0.05	1.00	0.10	0.18	0.01	-0.03	0.03	0.10	0.24	0.11	0.11	0.06	0.04	0.32	0.11	0.15	0.12	0.21	-0.11	-0.25	0.32
FCFS	0.19	0.08	0.11	0.05	0.01	0.15	0.08	0.10	1.00	0.26	0.14	0.08	0.03	0.16	0.25	0.18	0.23	0.20	0.21	0.29	0.16	0.20	0.25	0.32	-0.15	-0.19	0.41
SPLV	0.17	0.06	0.17	0.11	0.17	0.37	0.02	0.18	0.26	1.00	0.12	0.05	0.05	0.52	0.15	-0.05	0.17	-0.14	0.13	0.76	0.14	0.16	0.12	0.17	0.23	-0.17	0.37
UTES	0.40	-0.01	-0.01	0.14	-0.23	0.15	0.06	0.01	0.14	0.12	1.00	0.35	0.19	0.17	0.21	0.32	0.30	0.30	0.32	0.15	0.25	0.39	0.45	0.37	-0.42	-0.40	0.46
CRS	0.37	0.05	0.02	0.07	-0.05	0.15	0.00	-0.03	0.08	0.05	0.35	1.00	0.13	0.24	0.34	0.37	0.41	0.36	0.20	0.17	0.33	0.54	0.21	0.45	-0.45	-0.38	0.52
FXI	0.45	-0.02	0.08	0.15	0.13	0.05	0.16	0.03	0.03	0.05	0.19	0.13	1.00	0.35	0.25	0.39	0.29	0.38	0.45	0.25	0.43	0.24	0.37	0.31	-0.34	-0.46	0.46
EFAV	0.44	-0.03	0.15	0.15	0.10	0.17	0.15	0.10	0.16	0.52	0.17	0.24	0.35	1.00	0.19	0.22	0.34	0.19	0.42	0.57	0.57	0.29	0.34	0.31	-0.15	-0.45	0.53
C	0.61	0.11	0.07	-0.07	0.16	0.07	0.10	0.24	0.25	0.15	0.21	0.34	0.25	0.19	1.00	0.35	0.35	0.38	0.21	0.35	0.31	0.41	0.30	0.43	-0.52	-0.61	0.51
MPWR	0.59	-0.02	-0.01	0.01	-0.01	0.00	0.08	0.11	0.18	-0.05	0.32	0.37	0.39	0.22	0.35	1.00	0.32	0.62	0.38	0.17	0.45	0.39	0.37	0.48	-0.64	-0.58	0.58
VSEC	0.51	-0.07	0.12	0.04	-0.01	0.10	0.04	0.11	0.23	0.17	0.30	0.41	0.29	0.34	0.35	0.32	1.00	0.33	0.32	0.27	0.36	0.65	0.35	0.54	-0.49	-0.51	0.59
AMKR	0.57	-0.04	0.12	0.06	0.03	-0.09	0.11	0.06	0.20	-0.14	0.30	0.36	0.38	0.19	0.38	0.62	0.33	1.00	0.38	0.10	0.46	0.31	0.40	0.49	-0.69	-0.58	0.59
DBMF	0.50	0.01	0.15	0.24	0.07	0.01	0.40	0.04	0.21	0.13	0.32	0.20	0.45	0.42	0.21	0.38	0.32	0.38	1.00	0.29	0.49	0.34	0.63	0.37	-0.40	-0.49	0.58
USMV	0.54	0.23	0.13	0.12	0.44	0.37	0.07	0.32	0.29	0.76	0.15	0.17	0.25	0.57	0.35	0.17	0.27	0.10	0.29	1.00	0.32	0.34	0.31	0.37	-0.09	-0.54	0.57
ILF	0.58	0.03	0.19	0.11	0.05	0.04	0.27	0.11	0.16	0.14	0.25	0.33	0.43	0.57	0.31	0.45	0.36	0.46	0.49	0.32	1.00	0.40	0.45	0.36	-0.46	-0.58	0.60
ITA	0.57	0.12	0.06	0.06	-0.03	0.15	0.12	0.15	0.20	0.16	0.39	0.54	0.24	0.29	0.41	0.39	0.65	0.31	0.34	0.34	0.40	1.00	0.42	0.54	-0.54	-0.57	0.63
HECA	0.60	0.07	0.19	0.23	0.08	-0.01	0.24	0.12	0.25	0.12	0.45	0.21	0.37	0.34	0.30	0.37	0.35	0.40	0.63	0.31	0.45	0.42	1.00	0.44	-0.52	-0.61	0.57
APG	0.63	0.06	0.01	0.07	0.05	0.10	0.05	0.21	0.32	0.17	0.37	0.45	0.31	0.31	0.43	0.48	0.54	0.49	0.37	0.37	0.36	0.54	0.44	1.00	-0.57	-0.62	0.66
BTAL	-0.73	-0.03	-0.09	0.01	0.03	0.07	-0.12	-0.11	-0.15	0.23	-0.42	-0.45	-0.34	-0.15	-0.52	-0.64	-0.49	-0.69	-0.40	-0.09	-0.46	-0.54	-0.52	-0.57	1.00	0.73	-0.53
SDS	-1.00	-0.19	-0.04	-0.04	-0.22	-0.14	-0.10	-0.25	-0.19	-0.17	-0.40	-0.38	-0.46	-0.45	-0.61	-0.58	-0.51	-0.58	-0.49	-0.54	-0.58	-0.57	-0.61	-0.62	0.73	1.00	-0.70
Portfolio	0.70	0.11	0.25	0.33	0.17	0.29	0.24	0.32	0.41	0.37	0.46	0.52	0.46	0.53	0.51	0.58	0.59	0.59	0.58	0.57	0.60	0.63	0.57	0.66	-0.53	-0.70	1.00

The correlation results are calculated based on daily price changes starting from Jul 2, 2025