Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 30% |
TMF Direxion Daily 20-Year Treasury Bull 3X | Leveraged Bonds, Leveraged | 15% |
UPRO ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 55% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Stocks/Bonds 40/60 Leveraged 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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The earliest data available for this chart is Jun 25, 2009, corresponding to the inception date of UPRO
Returns By Period
As of Apr 2, 2026, the Stocks/Bonds 40/60 Leveraged Portfolio returned -7.05% Year-To-Date and 15.41% 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 Stocks/Bonds 40/60 Leveraged Portfolio | 0.52% | -7.55% | -7.05% | -7.10% | 15.89% | 16.64% | 4.27% | 15.41% |
| Portfolio components: | ||||||||
TMF Direxion Daily 20-Year Treasury Bull 3X | 1.59% | -8.80% | -1.52% | -8.84% | -15.76% | -23.39% | -29.12% | -15.69% |
TLT iShares 20+ Year Treasury Bond ETF | 0.61% | -2.56% | 0.69% | -0.91% | -0.77% | -2.76% | -5.75% | -1.34% |
UPRO ProShares UltraPro S&P 500 | 0.21% | -11.26% | -13.96% | -11.61% | 31.98% | 37.93% | 17.21% | 25.67% |
Monthly Returns
Based on dividend-adjusted daily data since Jun 26, 2009, Stocks/Bonds 40/60 Leveraged Portfolio's average daily return is +0.09%, while the average monthly return is +1.90%. At this rate, your investment would double in approximately 3.1 years.
Historically, 66% of months were positive and 34% were negative. The best month was Nov 2023 with a return of +22.6%, while the worst month was Sep 2022 at -21.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, Stocks/Bonds 40/60 Leveraged Portfolio closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +13.6%, while the worst single day was Mar 18, 2020 at -11.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.65% | 1.28% | -11.28% | 1.75% | -7.05% | ||||||||
| 2025 | 3.80% | 1.24% | -10.48% | -6.02% | 7.04% | 10.51% | 2.20% | 2.63% | 8.08% | 4.07% | -0.35% | -2.51% | 19.87% |
| 2024 | 0.01% | 6.57% | 5.74% | -11.97% | 9.68% | 6.54% | 3.46% | 4.13% | 4.14% | -6.38% | 10.98% | -9.12% | 22.80% |
| 2023 | 15.59% | -8.66% | 8.54% | 2.05% | -2.51% | 10.85% | 2.90% | -6.08% | -13.83% | -8.60% | 22.62% | 13.69% | 34.12% |
| 2022 | -11.66% | -6.50% | 0.75% | -20.68% | -3.01% | -14.15% | 17.20% | -11.16% | -21.28% | 7.90% | 13.24% | -12.95% | -52.08% |
| 2021 | -4.75% | 0.26% | 4.53% | 10.65% | 0.75% | 6.96% | 6.57% | 4.63% | -10.15% | 13.68% | 0.26% | 5.85% | 43.86% |
Benchmark Metrics
Stocks/Bonds 40/60 Leveraged Portfolio has an annualized alpha of 6.35%, beta of 1.28, and R² of 0.74 versus S&P 500 Index. Calculated based on daily prices since June 26, 2009.
- This portfolio captured 188.46% of S&P 500 Index gains and 143.67% of its losses — amplifying both gains and losses, but participating more in upside than downside.
- This portfolio generated an annualized alpha of 6.35% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
- Alpha
- 6.35%
- Beta
- 1.28
- R²
- 0.74
- Upside Capture
- 188.46%
- Downside Capture
- 143.67%
Expense Ratio
Stocks/Bonds 40/60 Leveraged Portfolio has an expense ratio of 0.71%, 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.
Return for Risk
Risk / Return Rank
Stocks/Bonds 40/60 Leveraged Portfolio ranks 12 for risk / return — in the bottom 12% of portfolios on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.52 | 0.88 | -0.37 |
Sortino ratioReturn per unit of downside risk | 0.91 | 1.37 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.21 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.81 | 1.39 | -0.58 |
Martin ratioReturn relative to average drawdown | 2.80 | 6.43 | -3.63 |
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 | |
|---|---|---|---|---|---|---|
TMF Direxion Daily 20-Year Treasury Bull 3X | 4 | -0.47 | -0.45 | 0.95 | -0.59 | -0.94 |
TLT iShares 20+ Year Treasury Bond ETF | 10 | -0.07 | -0.01 | 1.00 | -0.09 | -0.19 |
UPRO ProShares UltraPro S&P 500 | 35 | 0.59 | 1.17 | 1.17 | 1.03 | 4.06 |
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Dividends
Dividend yield
Stocks/Bonds 40/60 Leveraged Portfolio provided a 2.50% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.50% | 2.40% | 2.44% | 1.84% | 1.33% | 0.50% | 0.84% | 1.05% | 1.36% | 0.79% | 0.85% | 0.97% |
| Portfolio components: | ||||||||||||
TMF Direxion Daily 20-Year Treasury Bull 3X | 3.96% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.51% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
UPRO ProShares UltraPro S&P 500 | 1.01% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
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 Stocks/Bonds 40/60 Leveraged 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 Stocks/Bonds 40/60 Leveraged Portfolio was 56.95%, occurring on Oct 14, 2022. The portfolio has not yet recovered.
The current Stocks/Bonds 40/60 Leveraged Portfolio drawdown is 13.56%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -56.95% | Dec 28, 2021 | 202 | Oct 14, 2022 | — | — | — |
| -41.15% | Feb 20, 2020 | 20 | Mar 18, 2020 | 56 | Jun 8, 2020 | 76 |
| -26.35% | Jan 29, 2018 | 229 | Dec 24, 2018 | 59 | Mar 21, 2019 | 288 |
| -19.84% | Mar 23, 2015 | 132 | Sep 28, 2015 | 136 | Apr 13, 2016 | 268 |
| -19.3% | Sep 3, 2020 | 41 | Oct 30, 2020 | 26 | Dec 8, 2020 | 67 |
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 3 assets, with an effective number of assets of 2.41, 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 | TLT | TMF | UPRO | Portfolio | |
|---|---|---|---|---|---|
| Benchmark | 1.00 | -0.25 | -0.25 | 1.00 | 0.87 |
| TLT | -0.25 | 1.00 | 1.00 | -0.25 | 0.16 |
| TMF | -0.25 | 1.00 | 1.00 | -0.25 | 0.16 |
| UPRO | 1.00 | -0.25 | -0.25 | 1.00 | 0.88 |
| Portfolio | 0.87 | 0.16 | 0.16 | 0.88 | 1.00 |