6 horsemen

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

6 horsemen

Currency in USD · Last updated May 17, 2025

Asset Allocation

Position	Category/Sector	Target Weight
ARES Ares Management Corporation	Financial Services	14.29%
CSWC Capital Southwest Corporation	Financial Services	14.29%
HTGC Hercules Capital, Inc.	Financial Services	14.29%
IJH iShares Core S&P Mid-Cap ETF	Small Cap Growth Equities	14.29%
QQQ Invesco QQQ	Large Cap Blend Equities	14.29%
SMH VanEck Vectors Semiconductor ETF	Technology Equities	14.29%
VOO Vanguard S&P 500 ETF	Large Cap Growth Equities	14.29%

Benchmark

Rebalance

Performance

Performance Chart

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The earliest data available for this chart is May 2, 2014, corresponding to the inception date of ARES

Returns By Period

As of May 17, 2025, the 6 horsemen returned -0.12% Year-To-Date and 18.09% of annualized return in the last 10 years.

	YTD	1M	6M	1Y	5Y*	10Y*
^GSPC S&P 500	1.30%	12.94%	1.49%	12.48%	15.82%	10.87%
6 horsemen	-0.12%	15.57%	1.84%	8.41%	25.71%	18.09%
Portfolio components:
QQQ Invesco QQQ	2.16%	17.41%	5.35%	16.09%	19.29%	17.81%
VOO Vanguard S&P 500 ETF	1.73%	13.04%	2.12%	13.91%	17.57%	12.85%
IJH iShares Core S&P Mid-Cap ETF	-0.51%	13.66%	-3.00%	3.97%	16.12%	8.88%
CSWC Capital Southwest Corporation	0.90%	9.76%	-1.01%	-8.39%	24.29%	10.68%
ARES Ares Management Corporation	-3.13%	21.88%	3.08%	19.09%	42.87%	29.84%
HTGC Hercules Capital, Inc.	-7.62%	5.68%	-1.91%	1.51%	23.85%	14.57%
SMH VanEck Vectors Semiconductor ETF	1.75%	26.79%	3.15%	6.59%	31.28%	25.43%

*Annualized

Monthly Returns

The table below presents the monthly returns of 6 horsemen, 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	4.23%	-3.27%	-7.12%	-1.91%	8.75%								-0.12%
2024	2.51%	6.38%	3.66%	-1.71%	5.30%	2.96%	2.66%	-1.95%	2.72%	-0.03%	3.05%	-0.94%	27.12%
2023	12.52%	-0.23%	0.89%	0.71%	4.90%	7.39%	5.49%	0.35%	-2.04%	-4.23%	9.37%	7.28%	49.74%
2022	-3.94%	-1.11%	1.91%	-10.26%	-0.82%	-11.82%	14.50%	-4.17%	-12.52%	12.07%	5.09%	-7.43%	-20.49%
2021	0.69%	8.51%	4.01%	3.93%	2.43%	2.14%	3.85%	3.70%	-3.89%	8.70%	-0.56%	1.63%	40.50%
2020	0.35%	-7.26%	-19.63%	16.75%	7.41%	2.33%	4.47%	6.21%	-1.59%	-0.98%	16.20%	5.71%	27.46%
2019	12.05%	5.73%	-0.17%	4.72%	-4.71%	5.19%	3.48%	-0.74%	1.31%	4.61%	4.38%	3.58%	46.12%
2018	5.35%	-0.16%	-2.76%	-0.11%	3.61%	0.40%	3.35%	3.06%	0.43%	-8.19%	3.76%	-9.44%	-1.93%
2017	2.56%	3.94%	0.46%	0.96%	-1.54%	-0.21%	2.74%	-0.36%	3.38%	2.03%	2.56%	0.83%	18.61%
2016	-5.76%	0.24%	10.25%	-1.09%	2.13%	-0.11%	9.09%	3.02%	0.15%	-1.72%	3.53%	4.57%	25.85%
2015	2.48%	7.01%	-4.30%	0.72%	3.02%	-4.20%	0.01%	-4.74%	-2.14%	3.39%	0.84%	-2.82%	-1.44%
2014					4.19%	3.31%	-0.83%	1.67%	-2.49%	1.63%	3.44%	-0.12%	11.11%

Expense Ratio

6 horsemen 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.

QQQ

Invesco QQQ

IJH

iShares Core S&P Mid-Cap ETF

VOO

Vanguard S&P 500 ETF

SMH

VanEck Vectors Semiconductor ETF

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of 6 horsemen is 12, meaning it’s performing worse than 88% of other 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.

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
QQQ Invesco QQQ	0.64	1.12	1.16	0.78	2.53
VOO Vanguard S&P 500 ETF	0.72	1.20	1.18	0.81	3.09
IJH iShares Core S&P Mid-Cap ETF	0.18	0.42	1.05	0.16	0.50
CSWC Capital Southwest Corporation	-0.34	-0.53	0.92	-0.45	-1.10
ARES Ares Management Corporation	0.47	0.90	1.13	0.51	1.65
HTGC Hercules Capital, Inc.	0.06	0.18	1.03	0.01	0.03
SMH VanEck Vectors Semiconductor ETF	0.15	0.59	1.08	0.25	0.59

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.

6 horsemen Sharpe ratios as of May 17, 2025 (values are recalculated daily):

1-Year: 0.35
5-Year: 1.21
10-Year: 0.87
All Time: 0.91

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 0.56 to 1.05, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

The chart below shows the rolling Sharpe ratio of 6 horsemen compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

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Dividends

Dividend yield

6 horsemen provided a 3.83% dividend yield over the last twelve months.

	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Portfolio	3.83%	3.60%	4.05%	5.23%	3.59%	4.08%	4.56%	4.48%	3.98%	2.96%	3.36%	2.33%
Portfolio components:
QQQ Invesco QQQ	0.57%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%	1.41%
VOO Vanguard S&P 500 ETF	1.28%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%	1.85%
IJH iShares Core S&P Mid-Cap ETF	1.34%	1.33%	1.46%	1.68%	1.18%	1.28%	1.63%	1.72%	1.19%	1.60%	1.56%	1.34%
CSWC Capital Southwest Corporation	11.89%	11.59%	10.21%	12.75%	10.13%	11.49%	13.07%	5.88%	7.01%	2.35%	0.00%	0.00%
ARES Ares Management Corporation	2.30%	2.10%	2.59%	3.57%	2.31%	3.40%	3.59%	7.50%	6.30%	4.32%	6.81%	2.45%
HTGC Hercules Capital, Inc.	8.99%	7.96%	11.40%	14.90%	9.34%	9.57%	9.49%	11.40%	9.34%	8.58%	9.93%	8.13%
SMH VanEck Vectors Semiconductor ETF	0.43%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%	1.16%

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 6 horsemen. 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 6 horsemen was 40.78%, occurring on Mar 23, 2020. Recovery took 113 trading sessions.

The current 6 horsemen drawdown is 5.85%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-40.78%	Feb 20, 2020	23	Mar 23, 2020	113	Sep 1, 2020	136
-28.97%	Nov 19, 2021	224	Oct 11, 2022	181	Jul 3, 2023	405
-24.4%	Feb 20, 2025	34	Apr 8, 2025	—	—	—
-22.02%	Mar 3, 2015	240	Feb 11, 2016	114	Jul 26, 2016	354
-18.71%	Sep 24, 2018	64	Dec 24, 2018	37	Feb 19, 2019	101

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 7 assets, with an effective number of assets of 7.00, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

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	CSWC	HTGC	ARES	SMH	QQQ	IJH	VOO	Portfolio
^GSPC	1.00	0.35	0.45	0.50	0.77	0.91	0.86	1.00	0.87
CSWC	0.35	1.00	0.41	0.28	0.23	0.28	0.39	0.35	0.53
HTGC	0.45	0.41	1.00	0.33	0.33	0.36	0.51	0.45	0.61
ARES	0.50	0.28	0.33	1.00	0.42	0.46	0.51	0.50	0.70
SMH	0.77	0.23	0.33	0.42	1.00	0.83	0.67	0.77	0.78
QQQ	0.91	0.28	0.36	0.46	0.83	1.00	0.71	0.91	0.82
IJH	0.86	0.39	0.51	0.51	0.67	0.71	1.00	0.86	0.84
VOO	1.00	0.35	0.45	0.50	0.77	0.91	0.86	1.00	0.87
Portfolio	0.87	0.53	0.61	0.70	0.78	0.82	0.84	0.87	1.00

The correlation results are calculated based on daily price changes starting from May 5, 2014

Performance Analysis

Risk Analysis

Optimization

Factor Model

6 horsemen

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

Portfolios

Screeners

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