ARBOR PORTFOLIO

Asset Allocation

Position	Category/Sector	Target Weight
DFAI Dimensional International Core Equity Market ETF	Foreign Large Cap Equities	15.65%
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund	Nontraditional Bonds	12.75%
CMNIX Calamos Market Neutral Income Fund Institutional Class		12.30%
VEA Vanguard FTSE Developed Markets ETF	Foreign Large Cap Equities	11.90%
VTV Vanguard Value ETF	Large Cap Value Equities	10.25%
TIP iShares TIPS Bond ETF	Inflation-Protected Bonds	8.90%
TFLO iShares Treasury Floating Rate Bond ETF	Government Bonds, Ultrashort Bond	6.10%
FNDX Schwab Fundamental U.S. Large Company Index ETF	Large Cap Value Equities	5.30%
EMXC iShares MSCI Emerging Markets ex China ETF	Emerging Markets Equities	4.75%
RNSIX RiverNorth Doubleline Strategic Income Fund	Multisector Bonds	4.60%
PAAIX PIMCO All Asset Fund	Tactical Allocation	3.10%
JHEQX JPMorgan Hedged Equity Fund Class I	Hedge Fund	2.90%
AVUV Avantis US Small Cap Value ETF	Small Cap Value Equities	1.10%
CASH Meta Financial Group, Inc.	Financial Services	0.40%

Benchmark Against

Benchmark

S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in ARBOR 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 rebalanced Every 3 months.

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Returns By Period

Position	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.50%	0.31%	8.56%	8.85%	24.33%	19.37%	11.84%	13.61%
Portfolio ARBOR PORTFOLIO	0.31%	2.23%	9.36%	10.20%	20.43%	13.72%	7.90%	—
Portfolio components:
AVUV Avantis US Small Cap Value ETF	0.96%	6.47%	22.73%	19.51%	42.12%	19.24%	11.57%	—
CASH Meta Financial Group, Inc.	1.52%	5.41%	18.69%	13.22%	13.46%	19.00%	10.61%	17.80%
CMNIX Calamos Market Neutral Income Fund Institutional Class	0.00%	0.06%	2.67%	2.93%	6.67%	6.99%	4.77%	4.79%
DFAI Dimensional International Core Equity Market ETF	0.43%	2.45%	10.05%	11.52%	25.01%	17.84%	9.46%	—
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund	0.32%	0.89%	6.76%	8.31%	18.75%	13.23%	8.64%	6.53%
EMXC iShares MSCI Emerging Markets ex China ETF	0.55%	6.57%	37.25%	42.23%	67.80%	26.47%	12.14%	—
FNDX Schwab Fundamental U.S. Large Company Index ETF	0.90%	3.30%	15.49%	14.86%	32.83%	20.28%	13.11%	14.45%
JHEQX JPMorgan Hedged Equity Fund Class I	0.00%	-0.23%	-2.05%	-1.65%	6.02%	8.89%	6.85%	8.94%
PAAIX PIMCO All Asset Fund	0.64%	1.72%	8.96%	9.68%	18.62%	10.16%	4.42%	7.08%
RNSIX RiverNorth Doubleline Strategic Income Fund	0.35%	0.78%	0.66%	1.10%	5.52%	7.15%	2.26%	3.77%

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

Monthly Returns

Based on dividend-adjusted daily data since Nov 18, 2020, ARBOR PORTFOLIO's average daily return is +0.04%, while the average monthly return is +0.78%. At this rate, an investment would double in approximately 7.4 years.

Historically, 68% of months were positive and 32% were negative. The best month was Nov 2022 with a return of +6.1%, while the worst month was Sep 2022 at -6.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.

On a daily basis, ARBOR PORTFOLIO closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +3.8%, while the worst single day was Apr 4, 2025 at -3.4%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	3.69%	3.24%	-4.43%	4.42%	2.09%	0.26%							9.36%
2025	2.71%	1.08%	-0.47%	0.67%	2.75%	2.46%	-0.07%	2.63%	1.76%	1.18%	1.16%	1.43%	18.66%
2024	0.04%	1.74%	2.66%	-2.14%	2.76%	-0.01%	2.46%	1.56%	1.14%	-2.14%	1.72%	-2.18%	7.68%
2023	4.81%	-1.95%	1.15%	1.31%	-1.62%	3.24%	2.04%	-1.79%	-2.42%	-1.78%	5.13%	3.75%	12.06%
2022	-1.68%	-1.37%	0.25%	-3.61%	0.45%	-5.82%	3.39%	-2.17%	-6.28%	4.58%	6.09%	-1.55%	-8.22%
2021	0.14%	1.88%	2.20%	2.02%	2.16%	-0.22%	0.49%	1.08%	-1.81%	2.14%	-1.98%	3.01%	11.53%

Benchmark Metrics

ARBOR PORTFOLIO has an annualized alpha of 3.22%, beta of 0.44, and R2 of 0.77 versus S&P 500 Index. Calculated based on daily prices since November 18, 2020.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (50.50%) than losses (49.90%) - typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 3.22% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
Beta of 0.44 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: 3.22%

Beta: 0.44

R²: 0.77

Upside Capture: 50.50%

Downside Capture: 49.90%

See how alpha, beta & R² have trended over time →

Expense Ratio

ARBOR PORTFOLIO has an expense ratio of 0.45%, 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

PAAIX

PIMCO All Asset Fund

EGRIX

Eaton Vance Global Macro Absolute Return Advantage Fund

CMNIX

Calamos Market Neutral Income Fund Institutional Class

RNSIX

RiverNorth Doubleline Strategic Income Fund

JHEQX

JPMorgan Hedged Equity Fund Class I

EMXC

iShares MSCI Emerging Markets ex China ETF

FNDX

Schwab Fundamental U.S. Large Company Index ETF

AVUV

Avantis US Small Cap Value ETF

DFAI

Dimensional International Core Equity Market ETF

TIP

iShares TIPS Bond ETF

Return for Risk

Risk / Return Rank

ARBOR PORTFOLIO ranks 81 for risk / return — in the top 81% 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

The table below presents risk-adjusted performance metrics for ARBOR PORTFOLIO 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	2.61	1.86	+0.75
Sortino ratioReturn per unit of downside risk	3.69	2.53	+1.16
Omega ratioGain probability vs. loss probability	1.50	1.34	+0.16
Calmar ratioReturn relative to maximum drawdown	3.38	2.53	+0.85
Martin ratioReturn relative to average drawdown	13.71	11.37	+2.34

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
AVUV Avantis US Small Cap Value ETF	82	2.28	3.24	1.39	5.06	15.09
CASH Meta Financial Group, Inc.	53	0.39	0.71	1.10	0.51	1.01
CMNIX Calamos Market Neutral Income Fund Institutional Class	98	3.60	5.79	1.92	6.45	39.12
DFAI Dimensional International Core Equity Market ETF	52	1.63	2.32	1.29	2.18	8.47
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund	98	5.36	7.64	2.42	5.66	20.46
EMXC iShares MSCI Emerging Markets ex China ETF	88	2.74	3.35	1.50	4.55	17.51
FNDX Schwab Fundamental U.S. Large Company Index ETF	92	3.03	4.21	1.56	5.23	20.31
JHEQX JPMorgan Hedged Equity Fund Class I	14	0.93	1.30	1.18	0.85	2.86
PAAIX PIMCO All Asset Fund	91	3.05	4.38	1.57	3.79	15.15
RNSIX RiverNorth Doubleline Strategic Income Fund	64	1.98	3.00	1.39	2.70	9.41

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. Learn how to interpret the Sharpe ratio.

The current ARBOR PORTFOLIO Sharpe ratio is 2.61 as of Jun 13, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.53 to 2.41, 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 ARBOR 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

ARBOR PORTFOLIO provided a 3.19% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	3.19%	3.36%	3.35%	3.31%	3.41%	2.75%	2.05%	2.28%	2.35%	2.08%	1.85%	2.34%
Portfolio components:
AVUV Avantis US Small Cap Value ETF	1.61%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
CASH Meta Financial Group, Inc.	0.24%	0.28%	0.27%	0.38%	0.46%	0.34%	0.55%	0.55%	0.96%	0.56%	0.51%	1.13%
CMNIX Calamos Market Neutral Income Fund Institutional Class	1.71%	1.63%	2.00%	5.90%	1.02%	0.46%	0.90%	1.57%	5.02%	2.60%	2.97%	2.42%
DFAI Dimensional International Core Equity Market ETF	2.24%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%
EGRIX Eaton Vance Global Macro Absolute Return Advantage Fund	6.23%	6.65%	6.00%	3.40%	4.82%	4.89%	5.82%	4.15%	0.06%	3.22%	1.78%	6.67%
EMXC iShares MSCI Emerging Markets ex China ETF	2.05%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%	0.00%	0.00%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.44%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
JHEQX JPMorgan Hedged Equity Fund Class I	0.62%	0.65%	0.75%	0.98%	0.99%	0.71%	1.11%	1.11%	1.13%	0.99%	1.35%	1.21%
PAAIX PIMCO All Asset Fund	8.08%	7.12%	5.92%	3.20%	7.68%	11.90%	3.56%	3.33%	5.50%	4.48%	3.60%	3.93%
RNSIX RiverNorth Doubleline Strategic Income Fund	6.64%	6.52%	6.37%	5.13%	8.40%	4.20%	4.34%	5.17%	5.45%	5.08%	5.22%	5.83%

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 ARBOR 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 ARBOR PORTFOLIO was 16.61%, occurring on Sep 30, 2022. Recovery took 302 trading sessions.

The current ARBOR PORTFOLIO drawdown is 0.17%.

Related event	Drawdown	Fall	Recovery	Underwater
Bear market2022	-16.61%Sep 2022	8mo 20d	1y 2mo	1y 11moJan 2022 - Dec 2023
2025 selloff2025	-7.21%Apr 2025	13d	24d	1mo 7dMar 2025 - May 2025
2026 pullback2026	-5.84%Mar 2026	1mo 1d	1mo 7d	2mo 8dFeb 2026 - May 2026
2024 pullback2024	-3.64%Aug 2024	19d	14d	1mo 3dJul 2024 - Aug 2024
2021 pullback2021	-3.46%Dec 2021	22d	1mo 3d	1mo 25dNov 2021 - Jan 2022

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 14 assets, with an effective number of assets of 9.87, reflecting the diversification based on asset allocation. Your capital is well-distributed across most of your holdings, with only mild concentration in a few names. True diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio

	1Y	3Y	5Y	All Time
Diversification Ratio	1.19	1.20	1.21	1.21

The portfolio has a diversification ratio of 1.21, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.

ARBOR PORTFOLIO correlation to the S&P 500 Index

ARBOR PORTFOLIO has a 0.82 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.85

Benchmark Correlations

Correlation vs. S&P 500 Index. JHEQX has the highest benchmark correlation at 0.93, while TFLO has the lowest at -0.07.

-0.07

0.13

0.18

0.30

0.51

0.59

0.71

0.71

0.76

0.78

0.79

0.80

0.87

0.93

Portfolio Correlations

Correlation vs. ARBOR PORTFOLIO. VEA has the highest portfolio correlation at 0.96, while TFLO has the lowest at -0.05.

-0.05

0.25

0.30

0.41

0.55

0.70

0.78

0.80

0.82

0.83

0.85

0.89

0.96

0.96

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	TFLO	EGRIX	TIP	RNSIX	CASH	CMNIX	EMXC	JHEQX	AVUV	PAAIX	VTV	DFAI	VEA	FNDX
TFLO	1.00	0.03	-0.02	-0.04	-0.07	-0.03	-0.02	-0.05	-0.08	-0.05	-0.07	-0.06	-0.05	-0.07
EGRIX	0.03	1.00	0.06	0.11	0.09	0.13	0.22	0.10	0.15	0.25	0.13	0.20	0.21	0.14
TIP	-0.02	0.06	1.00	0.73	0.05	0.15	0.19	0.15	0.12	0.51	0.16	0.23	0.24	0.16
RNSIX	-0.04	0.11	0.73	1.00	0.14	0.28	0.29	0.27	0.21	0.58	0.26	0.35	0.36	0.27
CASH	-0.07	0.09	0.05	0.14	1.00	0.45	0.38	0.47	0.69	0.42	0.59	0.48	0.47	0.60
CMNIX	-0.03	0.13	0.15	0.28	0.45	1.00	0.56	0.75	0.59	0.52	0.65	0.61	0.62	0.71
EMXC	-0.02	0.22	0.19	0.29	0.38	0.56	1.00	0.65	0.59	0.66	0.59	0.79	0.83	0.66
JHEQX	-0.05	0.10	0.15	0.27	0.47	0.75	0.65	1.00	0.66	0.53	0.73	0.70	0.71	0.80
AVUV	-0.08	0.15	0.12	0.21	0.69	0.59	0.59	0.66	1.00	0.66	0.83	0.70	0.70	0.89
PAAIX	-0.05	0.25	0.51	0.58	0.42	0.52	0.66	0.53	0.66	1.00	0.68	0.75	0.75	0.70
VTV	-0.07	0.13	0.16	0.26	0.59	0.65	0.59	0.73	0.83	0.68	1.00	0.74	0.73	0.95
DFAI	-0.06	0.20	0.23	0.35	0.48	0.61	0.79	0.70	0.70	0.75	0.74	1.00	0.99	0.78
VEA	-0.05	0.21	0.24	0.36	0.47	0.62	0.83	0.71	0.70	0.75	0.73	0.99	1.00	0.78
FNDX	-0.07	0.14	0.16	0.27	0.60	0.71	0.66	0.80	0.89	0.70	0.95	0.78	0.78	1.00

The correlation results are calculated based on daily price changes starting from Nov 18, 2020

Diversification Analysis

Find what ARBOR PORTFOLIO is missing

See which holdings overlap, where ARBOR PORTFOLIO is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification