Test

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

Test

Last updated May 3, 2025

Asset Allocation

Position	Category/Sector	Target Weight
BRK-B Berkshire Hathaway Inc.	Financial Services	7.14%
COST Costco Wholesale Corporation	Consumer Defensive	7.14%
FFH.TO Fairfax Financial Holdings Limited	Financial Services	7.14%
GLDM SPDR Gold MiniShares Trust	Precious Metals, Gold	7.14%
ILF iShares Latin American 40 ETF	Latin America Equities	7.14%
MKL Markel Corporation	Financial Services	7.14%
VEU Vanguard FTSE All-World ex-US ETF	Foreign Large Cap Equities	7.14%
VGK Vanguard FTSE Europe ETF	Europe Equities	7.14%
VGT Vanguard Information Technology ETF	Technology Equities	7.14%
VONE Vanguard Russell 1000 ETF	Large Cap Blend Equities	7.14%
VONG Vanguard Russell 1000 Growth ETF	Large Cap Blend Equities	7.14%
VOO Vanguard S&P 500 ETF	Large Cap Growth Equities	7.14%
VTV Vanguard Value ETF	Large Cap Value Equities	7.14%
VUG Vanguard Growth ETF	Large Cap Growth Equities	7.14%

Benchmark

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Test, 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.

Test

Benchmark (^GSPC)

Portfolio components

The earliest data available for this chart is Jun 26, 2018, corresponding to the inception date of GLDM

Returns By Period

	YTD	1M	6M	1Y	5Y*	10Y*
^GSPC S&P 500	-3.31%	5.38%	-0.74%	10.90%	14.93%	10.61%
Test	7.07%	5.58%	8.84%	19.73%	20.16%	N/A
Portfolio components:
BRK-B Berkshire Hathaway Inc.	19.09%	1.82%	19.39%	34.66%	24.40%	14.19%
FFH.TO Fairfax Financial Holdings Limited	15.47%	8.11%	18.66%	42.39%	46.22%	15.47%
MKL Markel Corporation	8.73%	2.71%	21.49%	18.72%	17.61%	9.65%
VUG Vanguard Growth ETF	-5.03%	9.48%	1.12%	15.41%	17.43%	14.86%
VOO Vanguard S&P 500 ETF	-3.02%	5.37%	-0.14%	12.28%	16.32%	12.58%
VTV Vanguard Value ETF	0.14%	1.02%	-0.98%	9.35%	14.61%	9.95%
ILF iShares Latin American 40 ETF	19.08%	3.49%	7.15%	-5.85%	12.98%	2.04%
VEU Vanguard FTSE All-World ex-US ETF	10.86%	6.17%	7.37%	11.62%	11.31%	5.38%
GLDM SPDR Gold MiniShares Trust	23.20%	4.08%	18.24%	40.40%	13.28%	N/A
VGT Vanguard Information Technology ETF	-8.61%	10.96%	-2.99%	12.00%	19.53%	19.45%
COST Costco Wholesale Corporation	10.31%	4.40%	15.21%	36.24%	28.63%	23.64%
VONG Vanguard Russell 1000 Growth ETF	-6.02%	8.84%	0.30%	14.36%	17.89%	15.54%
VONE Vanguard Russell 1000 ETF	-3.13%	5.54%	-0.07%	12.18%	16.11%	12.23%
VGK Vanguard FTSE Europe ETF	17.35%	6.57%	11.79%	14.78%	13.72%	6.14%

*Annualized

Monthly Returns

The table below presents the monthly returns of Test, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2025	3.84%	1.67%	-2.23%	2.00%	1.70%								7.07%
2024	2.51%	3.98%	2.62%	-3.01%	5.46%	1.38%	1.81%	3.05%	1.40%	-1.56%	5.46%	-2.80%	21.78%
2023	8.06%	-2.52%	2.82%	2.59%	0.23%	5.69%	3.73%	-1.56%	-3.25%	-1.24%	8.26%	4.26%	29.62%
2022	-3.05%	-0.57%	6.43%	-7.99%	-0.47%	-7.77%	6.97%	-4.53%	-8.22%	7.13%	7.83%	-4.25%	-10.16%
2021	-1.52%	2.47%	3.89%	4.86%	2.57%	0.65%	1.37%	2.96%	-5.13%	5.22%	-0.60%	4.70%	23.06%
2020	0.00%	-6.43%	-13.65%	6.78%	4.51%	3.25%	6.80%	5.27%	-3.76%	-3.15%	12.40%	4.45%	14.53%
2019	7.03%	1.78%	1.13%	3.84%	-5.01%	6.96%	0.20%	-0.57%	1.14%	2.20%	1.96%	3.25%	25.99%
2018						-0.09%	3.89%	1.75%	0.54%	-5.73%	1.10%	-6.61%	-5.50%

Expense Ratio

Test has an expense ratio of 0.08%, 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.

ILF

iShares Latin American 40 ETF

ILF: 0.48%

GLDM

SPDR Gold MiniShares Trust

GLDM: 0.18%

VGT

Vanguard Information Technology ETF

VGT: 0.10%

VONG

Vanguard Russell 1000 Growth ETF

VONG: 0.08%

VONE

Vanguard Russell 1000 ETF

VONE: 0.08%

VGK

Vanguard FTSE Europe ETF

VGK: 0.08%

VEU

Vanguard FTSE All-World ex-US ETF

VEU: 0.07%

VUG

Vanguard Growth ETF

VUG: 0.04%

VTV

Vanguard Value ETF

VTV: 0.04%

VOO

Vanguard S&P 500 ETF

VOO: 0.03%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 82, Test is among the top 18% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Sharpe ratio

Portfolio: 1.13

^GSPC: 0.67

Sortino ratio

Portfolio: 1.65

^GSPC: 1.05

Omega ratio

Portfolio: 1.25

^GSPC: 1.16

Calmar ratio

Portfolio: 1.37

^GSPC: 0.68

Martin ratio

Portfolio: 6.22

^GSPC: 2.70

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
BRK-B Berkshire Hathaway Inc.	1.74	2.41	1.35	3.73	9.49
FFH.TO Fairfax Financial Holdings Limited	1.74	2.38	1.34	3.63	12.19
MKL Markel Corporation	0.69	1.21	1.16	0.87	2.39
VUG Vanguard Growth ETF	0.57	0.95	1.14	0.62	2.14
VOO Vanguard S&P 500 ETF	0.58	0.93	1.14	0.59	2.33
VTV Vanguard Value ETF	0.52	0.83	1.12	0.56	2.09
ILF iShares Latin American 40 ETF	-0.33	-0.32	0.96	-0.29	-0.58
VEU Vanguard FTSE All-World ex-US ETF	0.67	1.05	1.14	0.82	2.52
GLDM SPDR Gold MiniShares Trust	2.38	3.17	1.41	4.93	13.07
VGT Vanguard Information Technology ETF	0.36	0.70	1.10	0.39	1.31
COST Costco Wholesale Corporation	1.50	2.03	1.28	1.89	5.59
VONG Vanguard Russell 1000 Growth ETF	0.53	0.89	1.13	0.56	1.92
VONE Vanguard Russell 1000 ETF	0.57	0.92	1.14	0.57	2.24
VGK Vanguard FTSE Europe ETF	0.72	1.11	1.15	0.89	2.45

The current Test Sharpe ratio is 1.13. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Compared to the broad market, where average Sharpe ratios range from 0.55 to 1.09, this portfolio's current Sharpe ratio is in the top 25%, it signifies superior risk-adjusted performance. This means that for the level of risk undertaken, the portfolio is generating impressive returns compared to most others.

Use the chart below to compare the Sharpe ratio of Test with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.

Test

Benchmark (^GSPC)

Portfolio components

Dividends

Dividend yield

Test provided a 1.44% dividend yield over the last twelve months.

	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Portfolio	1.44%	1.58%	1.59%	2.13%	1.67%	1.44%	1.55%	1.72%	1.64%	1.57%	1.86%	1.62%
Portfolio components:
BRK-B Berkshire Hathaway 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%
FFH.TO Fairfax Financial Holdings Limited	0.98%	1.01%	1.10%	1.56%	2.05%	3.01%	2.17%	2.06%	1.96%	2.24%	1.81%	1.80%
MKL Markel 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%
VUG Vanguard Growth ETF	0.50%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%	1.21%
VOO Vanguard S&P 500 ETF	1.34%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%	1.85%
VTV Vanguard Value ETF	2.33%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%	2.22%
ILF iShares Latin American 40 ETF	6.25%	7.44%	4.61%	12.72%	8.47%	1.88%	3.09%	3.12%	1.81%	1.59%	3.25%	2.32%
VEU Vanguard FTSE All-World ex-US ETF	2.90%	3.24%	3.32%	3.12%	3.07%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%	3.52%
GLDM SPDR Gold MiniShares Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGT Vanguard Information Technology ETF	0.56%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%	1.12%
COST Costco Wholesale Corporation	0.47%	0.49%	2.87%	0.76%	0.54%	3.38%	0.86%	1.08%	4.81%	1.09%	4.06%	0.97%
VONG Vanguard Russell 1000 Growth ETF	0.57%	0.55%	0.71%	0.98%	0.58%	0.77%	1.03%	1.18%	1.19%	1.48%	1.47%	1.43%
VONE Vanguard Russell 1000 ETF	1.27%	1.20%	1.40%	1.59%	1.16%	1.45%	1.66%	1.96%	1.69%	1.89%	1.89%	1.68%
VGK Vanguard FTSE Europe ETF	2.99%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%	4.62%

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.

Test

Benchmark (^GSPC)

Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the Test. 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 Test was 32.03%, occurring on Mar 23, 2020. Recovery took 113 trading sessions.

The current Test drawdown is 0.70%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-32.03%	Feb 20, 2020	23	Mar 23, 2020	113	Aug 28, 2020	136
-21.83%	Mar 30, 2022	141	Oct 14, 2022	168	Jun 13, 2023	309
-16.29%	Sep 21, 2018	67	Dec 24, 2018	82	Apr 23, 2019	149
-13.39%	Feb 19, 2025	35	Apr 8, 2025	—	—	—
-8.58%	Sep 3, 2020	41	Oct 30, 2020	7	Nov 10, 2020	48

Volatility

Volatility Chart

The current Test volatility is 11.64%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.

Test

Benchmark (^GSPC)

Portfolio components

Diversification

Diversification Metrics

Number of Effective Assets

Effective Assets: 14.00

The portfolio contains 14 assets, with an effective number of assets of 14.00, 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.

	^GSPC	GLDM	FFH.TO	MKL	COST	ILF	BRK-B	VGK	VGT	VTV	VEU	VUG	VONG	VONE	VOO	Portfolio
^GSPC	1.00	0.07	0.41	0.52	0.59	0.53	0.66	0.76	0.91	0.85	0.80	0.94	0.94	0.99	1.00	0.95
GLDM	0.07	1.00	0.06	0.01	0.07	0.19	0.00	0.20	0.06	0.07	0.23	0.07	0.07	0.08	0.07	0.17
FFH.TO	0.41	0.06	1.00	0.37	0.25	0.33	0.36	0.44	0.33	0.44	0.44	0.34	0.34	0.41	0.41	0.54
MKL	0.52	0.01	0.37	1.00	0.30	0.36	0.61	0.47	0.35	0.63	0.47	0.38	0.38	0.52	0.52	0.60
COST	0.59	0.07	0.25	0.30	1.00	0.24	0.37	0.40	0.54	0.47	0.41	0.58	0.59	0.58	0.59	0.60
ILF	0.53	0.19	0.33	0.36	0.24	1.00	0.43	0.61	0.42	0.55	0.68	0.44	0.44	0.53	0.53	0.65
BRK-B	0.66	0.00	0.36	0.61	0.37	0.43	1.00	0.58	0.46	0.80	0.57	0.49	0.49	0.65	0.66	0.69
VGK	0.76	0.20	0.44	0.47	0.40	0.61	0.58	1.00	0.66	0.73	0.94	0.68	0.68	0.76	0.76	0.83
VGT	0.91	0.06	0.33	0.35	0.54	0.42	0.46	0.66	1.00	0.62	0.70	0.97	0.97	0.91	0.91	0.84
VTV	0.85	0.07	0.44	0.63	0.47	0.55	0.80	0.73	0.62	1.00	0.74	0.64	0.65	0.84	0.85	0.85
VEU	0.80	0.23	0.44	0.47	0.41	0.68	0.57	0.94	0.70	0.74	1.00	0.72	0.72	0.80	0.80	0.87
VUG	0.94	0.07	0.34	0.38	0.58	0.44	0.49	0.68	0.97	0.64	0.72	1.00	1.00	0.94	0.94	0.87
VONG	0.94	0.07	0.34	0.38	0.59	0.44	0.49	0.68	0.97	0.65	0.72	1.00	1.00	0.94	0.94	0.87
VONE	0.99	0.08	0.41	0.52	0.58	0.53	0.65	0.76	0.91	0.84	0.80	0.94	0.94	1.00	0.99	0.95
VOO	1.00	0.07	0.41	0.52	0.59	0.53	0.66	0.76	0.91	0.85	0.80	0.94	0.94	0.99	1.00	0.95
Portfolio	0.95	0.17	0.54	0.60	0.60	0.65	0.69	0.83	0.84	0.85	0.87	0.87	0.87	0.95	0.95	1.00

The correlation results are calculated based on daily price changes starting from Jun 27, 2018

Performance Analysis

Risk Analysis

Optimization

Factor Model

Test

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Expense Ratio

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

Risk-Adjusted Performance Indicators

Dividends

Dividend yield

Drawdowns

Drawdowns Chart

Worst Drawdowns

Volatility

Volatility Chart

Diversification

Diversification Metrics

Number of Effective Assets

Asset Correlations Table

Performance Analysis

Risk Analysis

Optimization

Factor Model

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