Defensive 3.0

Asset Allocation

Position	Category/Sector	Target Weight
AVGO Broadcom Inc.	Technology	3%
BN Brookfield Corp	Financial Services	3%
BRK-B Berkshire Hathaway Inc.	Financial Services	3%
COST Costco Wholesale Corporation	Consumer Defensive	3%
CSCO Cisco Systems, Inc.	Technology	3%
CVX Chevron Corporation	Energy	3%
HWM Howmet Aerospace Inc.	Industrials	2%
III.L 3I Group plc	Financial Services	3%
JNJ Johnson & Johnson	Healthcare	3%
KO The Coca-Cola Company	Consumer Defensive	3%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF	Corporate Bonds	5%
MCD McDonald's Corporation	Consumer Cyclical	3%
MO Altria Group, Inc.	Consumer Defensive	3%
MSFT Microsoft Corporation	Technology	3%
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	Financial Services	3%
NFLX Netflix, Inc.	Communication Services	3%
QQQ Invesco QQQ ETF	Large Cap Growth Equities	5%
RGTI Rigetti Computing Inc	Technology	3%
RHM.DE Rheinmetall AG	Industrials	3%
SGLN.L iShares Physical Gold ETC	Precious Metals, Commodities	10%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	Global Equities, Dividend	10%
TIP iShares TIPS Bond ETF	Inflation-Protected Bonds	5%
UNH UnitedHealth Group Incorporated	Healthcare	2%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	Global Equities, Dividend	7%
VUKE.L Vanguard FTSE 100 UCITS ETF Distributing	Europe Equities	3%
WMT Walmart Inc.	Consumer Defensive	3%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Defensive 3.0, 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 Apr 22, 2021, corresponding to the inception date of RGTI

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 Defensive 3.0	0.36%	-2.30%	2.60%	2.90%	27.25%	47.88%	—	—
Portfolio components:
SGLN.L iShares Physical Gold ETC	0.00%	-7.02%	10.79%	24.38%	52.14%	33.67%	22.52%	14.45%
TIP iShares TIPS Bond ETF	0.41%	-0.62%	0.82%	0.60%	3.34%	3.06%	1.33%	2.52%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	-0.48%	-1.06%	4.65%	10.23%	24.51%	16.41%	10.54%	9.62%
MO Altria Group, Inc.	0.43%	-2.94%	15.96%	3.55%	23.23%	22.72%	13.73%	7.41%
WMT Walmart Inc.	0.84%	-1.46%	13.14%	24.19%	41.38%	37.98%	24.34%	20.62%
KO The Coca-Cola Company	0.84%	-2.64%	10.50%	17.69%	10.67%	10.37%	11.14%	8.39%
JNJ Johnson & Johnson	-0.44%	-1.50%	18.06%	32.21%	60.80%	19.22%	11.44%	11.41%
CVX Chevron Corporation	0.79%	5.40%	31.83%	32.46%	24.90%	9.95%	18.30%	12.53%
MCD McDonald's Corporation	-0.05%	-7.54%	1.06%	3.61%	0.86%	5.27%	8.85%	11.85%
MSFT Microsoft Corporation	1.11%	-7.54%	-22.60%	-27.29%	-1.52%	10.00%	9.94%	22.58%

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

Monthly Returns

Based on dividend-adjusted daily data since Apr 23, 2021, Defensive 3.0's average daily return is +0.11%, while the average monthly return is +2.34%. At this rate, your investment would double in approximately 2.5 years.

Historically, 72% of months were positive and 28% were negative. The best month was Dec 2024 with a return of +43.7%, while the worst month was Jun 2022 at -8.6%. The longest winning streak lasted 18 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Defensive 3.0 closed higher 56% of trading days. The best single day was Dec 26, 2024 with a return of +10.8%, while the worst single day was Dec 19, 2024 at -9.2%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	3.05%	4.20%	-5.74%	1.38%									2.60%
2025	4.46%	2.86%	1.74%	3.19%	5.27%	2.46%	0.62%	3.25%	6.78%	1.83%	-0.49%	-0.23%	36.47%
2024	2.51%	5.13%	3.13%	-2.52%	4.06%	0.92%	3.56%	3.60%	1.50%	0.73%	11.17%	43.69%	99.37%
2023	5.55%	-2.45%	4.11%	0.90%	1.71%	5.26%	5.69%	-2.91%	-4.22%	-1.17%	6.52%	4.11%	24.74%
2022	-2.04%	1.59%	3.66%	-4.98%	0.14%	-8.55%	5.74%	-3.65%	-8.20%	7.08%	7.05%	-2.65%	-6.32%
2021				0.27%	2.88%	-1.05%	2.16%	1.90%	-2.88%	4.90%	-1.81%	5.83%	12.49%

Benchmark Metrics

Defensive 3.0 has an annualized alpha of 22.85%, beta of 0.59, and R² of 0.42 versus S&P 500 Index. Calculated based on daily prices since April 23, 2021.

This portfolio captured 100.66% of S&P 500 Index gains but only 8.88% of its losses — a favorable profile for investors.
Beta of 0.59 may look defensive, but with R² of 0.42 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
R² of 0.42 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.

Alpha: 22.85%

Beta: 0.59

R²: 0.42

Upside Capture: 100.66%

Downside Capture: 8.88%

Expense Ratio

Defensive 3.0 has an expense ratio of 0.09%, 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.

TDGB.L

VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF

VHYD.L

Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing

TIP

iShares TIPS Bond ETF

QQQ

Invesco QQQ ETF

LQD

iShares iBoxx $ Investment Grade Corporate Bond ETF

VUKE.L

Vanguard FTSE 100 UCITS ETF Distributing

Return for Risk

Risk / Return Rank

Defensive 3.0 ranks 92 for risk / return — in the top 92% 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.

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	2.27	0.88	+1.39
Sortino ratio Return per unit of downside risk	3.07	1.37	+1.70
Omega ratio Gain probability vs. loss probability	1.46	1.21	+0.25
Calmar ratio Return relative to maximum drawdown	4.12	1.39	+2.73
Martin ratio Return relative to average drawdown	14.66	6.43	+8.22
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
SGLN.L iShares Physical Gold ETC	86	1.97	2.45	1.35	3.07	11.67
TIP iShares TIPS Bond ETF	35	0.80	1.11	1.14	1.16	3.36
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	87	1.78	2.29	1.38	3.47	13.16
MO Altria Group, Inc.	68	1.12	1.53	1.22	1.20	3.11
WMT Walmart Inc.	87	1.72	2.65	1.33	3.92	10.75
KO The Coca-Cola Company	58	0.64	1.06	1.12	1.00	2.03
JNJ Johnson & Johnson	97	3.51	4.77	1.64	7.48	25.03
CVX Chevron Corporation	66	0.98	1.37	1.20	1.19	2.67
MCD McDonald's Corporation	37	0.05	0.19	1.02	0.02	0.04
MSFT Microsoft Corporation	35	-0.06	0.11	1.01	-0.05	-0.12

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.

Defensive 3.0 Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 2.27
All Time: 1.91

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 0.98 to 1.66, this portfolio's current Sharpe ratio is in the top 25%. This signifies superior risk-adjusted performance, meaning the portfolio is delivering strong returns for the level of risk taken compared to most others.

The chart below shows the rolling Sharpe ratio of Defensive 3.0 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

Defensive 3.0 provided a 1.97% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.97%	2.06%	2.17%	2.42%	2.57%	2.21%	2.41%	2.30%	2.07%	1.80%	2.60%	1.82%
Portfolio components:
SGLN.L iShares Physical Gold ETC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TIP iShares TIPS Bond ETF	2.79%	3.46%	2.52%	2.73%	6.96%	4.28%	1.17%	1.75%	2.71%	2.07%	1.48%	0.34%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	2.64%	2.77%	3.15%	3.31%	3.72%	3.14%	2.90%	3.23%	3.77%	2.96%	3.16%	3.32%
MO Altria Group, Inc.	6.39%	7.21%	7.65%	9.52%	8.05%	7.43%	8.29%	6.57%	6.07%	3.56%	3.48%	3.73%
WMT Walmart Inc.	0.76%	0.84%	0.92%	1.45%	1.58%	1.52%	1.50%	1.78%	2.23%	2.07%	2.89%	3.20%
KO The Coca-Cola Company	2.69%	2.92%	3.12%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%
JNJ Johnson & Johnson	2.14%	2.48%	3.40%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%
CVX Chevron Corporation	3.47%	4.49%	4.50%	4.05%	3.16%	4.52%	6.11%	3.95%	4.12%	3.45%	3.64%	4.76%
MCD McDonald's Corporation	2.36%	2.35%	2.34%	2.10%	2.15%	1.96%	2.35%	2.39%	2.36%	2.23%	2.97%	2.91%
MSFT Microsoft Corporation	0.93%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%

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 Defensive 3.0. 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 Defensive 3.0 was 19.72%, occurring on Oct 11, 2022. Recovery took 161 trading sessions.

The current Defensive 3.0 drawdown is 4.44%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-19.72%	Mar 31, 2022	138	Oct 11, 2022	161	May 26, 2023	299
-11.48%	Dec 18, 2024	2	Dec 19, 2024	4	Dec 26, 2024	6
-10.21%	Aug 2, 2023	45	Oct 3, 2023	55	Dec 19, 2023	100
-7.93%	Mar 20, 2025	13	Apr 7, 2025	12	Apr 24, 2025	25
-7.54%	Mar 2, 2026	20	Mar 27, 2026	—	—	—

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 26 assets, with an effective number of assets of 20.24, 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	SGLN.L	RHM.DE	RGTI	TIP	MO	CVX	UNH	JNJ	WMT	LQD	NFLX	KO	MUV2.DE	MCD	AVGO	COST	III.L	HWM	MSFT	CSCO	BRK-B	VHYD.L	TDGB.L	VUKE.L	BN	QQQ	Portfolio
Benchmark	1.00	0.11	0.19	0.36	0.18	0.17	0.28	0.29	0.21	0.33	0.31	0.52	0.28	0.28	0.36	0.69	0.53	0.41	0.59	0.74	0.63	0.54	0.47	0.44	0.47	0.73	0.94	0.77
SGLN.L	0.11	1.00	0.16	0.07	0.30	0.06	0.13	0.09	0.11	0.05	0.26	0.08	0.11	0.13	0.08	0.08	0.07	0.17	0.10	0.06	0.09	0.04	0.22	0.29	0.32	0.14	0.10	0.34
RHM.DE	0.19	0.16	1.00	0.07	0.11	0.10	0.12	0.06	0.01	0.04	0.09	0.08	0.04	0.26	0.07	0.13	0.08	0.25	0.23	0.11	0.10	0.11	0.33	0.32	0.35	0.22	0.14	0.37
RGTI	0.36	0.07	0.07	1.00	0.06	-0.01	0.10	0.07	-0.05	0.05	0.12	0.24	-0.03	0.04	0.02	0.29	0.14	0.20	0.21	0.28	0.18	0.12	0.18	0.16	0.17	0.32	0.37	0.55
TIP	0.18	0.30	0.11	0.06	1.00	0.11	0.07	0.08	0.17	0.10	0.77	0.12	0.17	0.11	0.15	0.08	0.15	0.15	0.08	0.11	0.12	0.09	0.16	0.19	0.20	0.21	0.15	0.27
MO	0.17	0.06	0.10	-0.01	0.11	1.00	0.26	0.20	0.37	0.28	0.10	0.03	0.47	0.17	0.32	0.00	0.20	0.07	0.16	0.05	0.21	0.35	0.19	0.27	0.19	0.14	0.03	0.26
CVX	0.28	0.13	0.12	0.10	0.07	0.26	1.00	0.17	0.15	0.11	-0.01	0.05	0.17	0.11	0.14	0.12	0.09	0.10	0.28	0.07	0.24	0.37	0.31	0.36	0.29	0.27	0.14	0.32
UNH	0.29	0.09	0.06	0.07	0.08	0.20	0.17	1.00	0.33	0.23	0.10	0.06	0.31	0.15	0.31	0.10	0.24	0.13	0.15	0.17	0.23	0.31	0.17	0.20	0.18	0.20	0.18	0.29
JNJ	0.21	0.11	0.01	-0.05	0.17	0.37	0.15	0.33	1.00	0.29	0.19	0.01	0.47	0.18	0.37	-0.01	0.23	0.09	0.04	0.09	0.26	0.39	0.20	0.25	0.20	0.13	0.08	0.25
WMT	0.33	0.05	0.04	0.05	0.10	0.28	0.11	0.23	0.29	1.00	0.14	0.20	0.38	0.10	0.35	0.14	0.58	0.13	0.22	0.23	0.28	0.35	0.15	0.13	0.14	0.21	0.26	0.32
LQD	0.31	0.26	0.09	0.12	0.77	0.10	-0.01	0.10	0.19	0.14	1.00	0.22	0.20	0.14	0.20	0.18	0.22	0.19	0.15	0.22	0.19	0.15	0.20	0.23	0.25	0.35	0.29	0.35
NFLX	0.52	0.08	0.08	0.24	0.12	0.03	0.05	0.06	0.01	0.20	0.22	1.00	0.07	0.12	0.12	0.42	0.35	0.23	0.29	0.49	0.31	0.22	0.16	0.14	0.18	0.36	0.58	0.44
KO	0.28	0.11	0.04	-0.03	0.17	0.47	0.17	0.31	0.47	0.38	0.20	0.07	1.00	0.20	0.50	0.04	0.35	0.12	0.18	0.16	0.31	0.42	0.21	0.26	0.24	0.22	0.15	0.31
MUV2.DE	0.28	0.13	0.26	0.04	0.11	0.17	0.11	0.15	0.18	0.10	0.14	0.12	0.20	1.00	0.23	0.15	0.14	0.43	0.25	0.17	0.19	0.32	0.51	0.57	0.54	0.30	0.20	0.43
MCD	0.36	0.08	0.07	0.02	0.15	0.32	0.14	0.31	0.37	0.35	0.20	0.12	0.50	0.23	1.00	0.15	0.35	0.18	0.25	0.23	0.33	0.41	0.23	0.26	0.25	0.27	0.26	0.36
AVGO	0.69	0.08	0.13	0.29	0.08	0.00	0.12	0.10	-0.01	0.14	0.18	0.42	0.04	0.15	0.15	1.00	0.35	0.29	0.42	0.59	0.45	0.21	0.28	0.24	0.27	0.45	0.75	0.55
COST	0.53	0.07	0.08	0.14	0.15	0.20	0.09	0.24	0.23	0.58	0.22	0.35	0.35	0.14	0.35	0.35	1.00	0.23	0.30	0.43	0.38	0.34	0.18	0.16	0.18	0.33	0.51	0.46
III.L	0.41	0.17	0.25	0.20	0.15	0.07	0.10	0.13	0.09	0.13	0.19	0.23	0.12	0.43	0.18	0.29	0.23	1.00	0.27	0.27	0.27	0.27	0.58	0.54	0.65	0.43	0.38	0.56
HWM	0.59	0.10	0.23	0.21	0.08	0.16	0.28	0.15	0.04	0.22	0.15	0.29	0.18	0.25	0.25	0.42	0.30	0.27	1.00	0.34	0.38	0.43	0.34	0.32	0.34	0.50	0.49	0.52
MSFT	0.74	0.06	0.11	0.28	0.11	0.05	0.07	0.17	0.09	0.23	0.22	0.49	0.16	0.17	0.23	0.59	0.43	0.27	0.34	1.00	0.46	0.29	0.22	0.21	0.26	0.47	0.80	0.53
CSCO	0.63	0.09	0.10	0.18	0.12	0.21	0.24	0.23	0.26	0.28	0.19	0.31	0.31	0.19	0.33	0.45	0.38	0.27	0.38	0.46	1.00	0.42	0.34	0.32	0.31	0.47	0.57	0.53
BRK-B	0.54	0.04	0.11	0.12	0.09	0.35	0.37	0.31	0.39	0.35	0.15	0.22	0.42	0.32	0.41	0.21	0.34	0.27	0.43	0.29	0.42	1.00	0.42	0.43	0.36	0.46	0.36	0.51
VHYD.L	0.47	0.22	0.33	0.18	0.16	0.19	0.31	0.17	0.20	0.15	0.20	0.16	0.21	0.51	0.23	0.28	0.18	0.58	0.34	0.22	0.34	0.42	1.00	0.82	0.81	0.51	0.36	0.64
TDGB.L	0.44	0.29	0.32	0.16	0.19	0.27	0.36	0.20	0.25	0.13	0.23	0.14	0.26	0.57	0.26	0.24	0.16	0.54	0.32	0.21	0.32	0.43	0.82	1.00	0.84	0.49	0.33	0.64
VUKE.L	0.47	0.32	0.35	0.17	0.20	0.19	0.29	0.18	0.20	0.14	0.25	0.18	0.24	0.54	0.25	0.27	0.18	0.65	0.34	0.26	0.31	0.36	0.81	0.84	1.00	0.52	0.37	0.65
BN	0.73	0.14	0.22	0.32	0.21	0.14	0.27	0.20	0.13	0.21	0.35	0.36	0.22	0.30	0.27	0.45	0.33	0.43	0.50	0.47	0.47	0.46	0.51	0.49	0.52	1.00	0.64	0.67
QQQ	0.94	0.10	0.14	0.37	0.15	0.03	0.14	0.18	0.08	0.26	0.29	0.58	0.15	0.20	0.26	0.75	0.51	0.38	0.49	0.80	0.57	0.36	0.36	0.33	0.37	0.64	1.00	0.69
Portfolio	0.77	0.34	0.37	0.55	0.27	0.26	0.32	0.29	0.25	0.32	0.35	0.44	0.31	0.43	0.36	0.55	0.46	0.56	0.52	0.53	0.53	0.51	0.64	0.64	0.65	0.67	0.69	1.00

The correlation results are calculated based on daily price changes starting from Apr 23, 2021

Defensive 3.0

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