Moderate Portfolio - Morningstar Allocations

Asset Allocation

Position	Category/Sector	Target Weight
SPMO Invesco S&P 500 Momentum ETF	Momentum, S&P 500	20%
FNDX Schwab Fundamental U.S. Large Company Index ETF	Large Cap Value Equities	17%
PONAX PIMCO Income Fund Class A	Multisector Bonds	12%
PTIAX Performance Trust Strategic Bond Fund	Intermediate Core-Plus Bond	12%
VEA Vanguard FTSE Developed Markets ETF	Foreign Large Cap Equities	10.50%
PFIIX PIMCO Low Duration Income Fund	Short-Term Bond	6%
IJH iShares Core S&P Mid-Cap ETF	Mid Cap Blend Equities	5.50%
SGOV iShares 0-3 Month Treasury Bond ETF	Ultrashort Bond	5%
VB Vanguard Small-Cap ETF	Small Cap Blend Equities	5%
BNDX Vanguard Total International Bond ETF	Global Bonds	4.50%
AVEM Avantis Emerging Markets Equity ETF	Emerging Markets Equities	2.50%

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 Moderate Portfolio - Morningstar Allocations, 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	1.75%	-0.09%	8.02%	7.15%	22.78%	19.45%	11.73%	13.53%
Portfolio Moderate Portfolio - Morningstar Allocations	2.18%	2.05%	12.14%	11.52%	23.05%	18.31%	9.96%	—
Portfolio components:
AVEM Avantis Emerging Markets Equity ETF	4.59%	2.95%	24.56%	25.81%	45.40%	24.22%	9.57%	—
BNDX Vanguard Total International Bond ETF	0.58%	1.01%	0.85%	0.99%	1.99%	4.13%	0.29%	1.69%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.47%	1.97%	14.46%	13.13%	30.72%	20.21%	12.91%	14.32%
IJH iShares Core S&P Mid-Cap ETF	2.51%	2.96%	14.66%	11.74%	25.20%	15.52%	8.10%	11.45%
PFIIX PIMCO Low Duration Income Fund	0.00%	0.28%	1.10%	1.56%	6.73%	7.37%	3.98%	4.78%
PONAX PIMCO Income Fund Class A	0.00%	0.23%	0.18%	0.83%	6.76%	7.14%	2.94%	4.22%
PTIAX Performance Trust Strategic Bond Fund	-0.10%	0.22%	0.50%	0.58%	5.33%	5.16%	0.82%	2.83%
SGOV iShares 0-3 Month Treasury Bond ETF	0.01%	0.29%	1.59%	1.80%	3.94%	4.70%	3.55%	—
SPMO Invesco S&P 500 Momentum ETF	4.80%	4.24%	26.56%	24.30%	41.83%	41.24%	23.19%	20.59%
VB Vanguard Small-Cap ETF	2.50%	2.79%	14.53%	11.37%	27.63%	16.36%	6.83%	11.49%

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

Monthly Returns

Based on dividend-adjusted daily data since May 28, 2020, Moderate Portfolio - Morningstar Allocations's average daily return is +0.05%, while the average monthly return is +1.05%. At this rate, an investment would double in approximately 5.5 years.

Historically, 70% of months were positive and 30% were negative. The best month was Nov 2020 with a return of +8.0%, while the worst month was Sep 2022 at -6.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Moderate Portfolio - Morningstar Allocations closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +5.2%, while the worst single day was Jun 11, 2020 at -3.8%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	2.28%	2.04%	-4.22%	7.47%	4.51%	-0.12%							12.14%
2025	2.92%	0.32%	-2.67%	0.15%	4.20%	3.70%	0.79%	2.20%	2.10%	0.91%	0.65%	0.37%	16.61%
2024	0.97%	3.85%	3.10%	-3.40%	3.61%	1.64%	1.99%	1.74%	1.47%	-1.35%	3.95%	-2.83%	15.39%
2023	4.16%	-2.69%	0.84%	1.21%	-2.41%	4.08%	2.21%	-0.91%	-2.39%	-2.20%	6.66%	5.08%	13.85%
2022	-3.17%	-1.47%	0.75%	-5.22%	0.96%	-6.20%	5.31%	-2.58%	-6.62%	6.30%	4.96%	-2.59%	-10.17%
2021	0.77%	1.20%	2.21%	2.84%	0.92%	1.51%	0.58%	1.70%	-2.49%	3.15%	-1.87%	2.59%	13.74%

Benchmark Metrics

Moderate Portfolio - Morningstar Allocations has an annualized alpha of 3.39%, beta of 0.59, and R2 of 0.90 versus S&P 500 Index. Calculated based on daily prices since May 28, 2020.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (64.69%) than losses (62.50%) - typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 3.39% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
Beta of 0.59 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: 3.39%

Beta: 0.59

R²: 0.90

Upside Capture: 64.69%

Downside Capture: 62.50%

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

Expense Ratio

Moderate Portfolio - Morningstar Allocations has an expense ratio of 0.34%, 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

PONAX

PIMCO Income Fund Class A

PTIAX

Performance Trust Strategic Bond Fund

PFIIX

PIMCO Low Duration Income Fund

AVEM

Avantis Emerging Markets Equity ETF

FNDX

Schwab Fundamental U.S. Large Company Index ETF

SPMO

Invesco S&P 500 Momentum ETF

SGOV

iShares 0-3 Month Treasury Bond ETF

BNDX

Vanguard Total International Bond ETF

IJH

iShares Core S&P Mid-Cap ETF

Vanguard Small-Cap ETF

Return for Risk

Risk / Return Rank

Moderate Portfolio - Morningstar Allocations ranks 74 for risk / return — better than 74% of Portfolios on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

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 Moderate Portfolio - Morningstar Allocations 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	2.43	1.85	+0.58
Sortino ratioReturn per unit of downside risk	3.46	2.52	+0.94
Omega ratioGain probability vs. loss probability	1.48	1.34	+0.14
Calmar ratioReturn relative to maximum drawdown	3.72	2.52	+1.21
Martin ratioReturn relative to average drawdown	16.70	11.31	+5.39

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
AVEM Avantis Emerging Markets Equity ETF	80	2.15	2.79	1.40	3.47	13.23
BNDX Vanguard Total International Bond ETF	20	0.58	0.84	1.10	0.68	1.90
FNDX Schwab Fundamental U.S. Large Company Index ETF	93	2.96	4.11	1.54	5.09	19.73
IJH iShares Core S&P Mid-Cap ETF	62	1.59	2.33	1.28	2.87	10.47
PFIIX PIMCO Low Duration Income Fund	87	2.55	4.17	1.61	3.27	13.92
PONAX PIMCO Income Fund Class A	44	1.74	2.57	1.33	1.93	6.45
PTIAX Performance Trust Strategic Bond Fund	33	1.45	2.18	1.26	1.92	5.34
SGOV iShares 0-3 Month Treasury Bond ETF	100	20.22	274.98	195.05	397.15	4,450.29
SPMO Invesco S&P 500 Momentum ETF	79	2.16	2.89	1.40	3.31	12.52
VB Vanguard Small-Cap ETF	65	1.67	2.39	1.29	3.09	11.33

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.

The current Moderate Portfolio - Morningstar Allocations Sharpe ratio is 2.43 as of Jun 11, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.43 to 2.27, 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 Moderate Portfolio - Morningstar Allocations 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

Moderate Portfolio - Morningstar Allocations provided a 2.79% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.79%	2.93%	2.97%	3.13%	2.73%	2.06%	2.28%	2.73%	2.64%	2.44%	2.80%	2.75%
Portfolio components:
AVEM Avantis Emerging Markets Equity ETF	2.60%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%	0.00%	0.00%	0.00%
BNDX Vanguard Total International Bond ETF	4.48%	4.39%	4.18%	4.42%	1.51%	3.74%	1.11%	3.40%	3.01%	2.23%	1.89%	1.63%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
IJH iShares Core S&P Mid-Cap ETF	1.18%	1.36%	1.33%	1.46%	1.68%	1.18%	1.28%	1.63%	1.72%	1.19%	1.60%	1.56%
PFIIX PIMCO Low Duration Income Fund	5.29%	5.49%	5.37%	4.97%	5.35%	3.06%	3.44%	4.74%	3.22%	3.13%	3.75%	5.36%
PONAX PIMCO Income Fund Class A	5.46%	5.61%	5.86%	5.86%	4.66%	3.62%	4.48%	5.42%	5.24%	4.97%	5.13%	7.45%
PTIAX Performance Trust Strategic Bond Fund	4.78%	4.68%	4.44%	4.03%	3.96%	3.01%	3.86%	4.11%	4.47%	5.51%	5.49%	4.87%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.67%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
VB Vanguard Small-Cap ETF	1.19%	1.33%	1.30%	1.55%	1.59%	1.24%	1.14%	1.39%	1.67%	1.35%	1.50%	1.48%

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 Moderate Portfolio - Morningstar Allocations. 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 Moderate Portfolio - Morningstar Allocations was 17.97%, occurring on Sep 30, 2022. Recovery took 303 trading sessions.

The current Moderate Portfolio - Morningstar Allocations drawdown is 3.11%.

Related event	Drawdown	Fall	Recovery	Underwater
Bear market2022	-17.97%Sep 2022	10mo 25d	1y 2mo	2y 1moNov 2021 - Dec 2023
2025 selloff2025	-10.70%Apr 2025	1mo 18d	1mo 7d	2mo 25dFeb 2025 - May 2025
2026 pullback2026	-6.22%Mar 2026	1mo 1d	14d	1mo 15dFeb 2026 - Apr 2026
2020 pullback2020	-5.02%Sep 2020	20d	19d	1mo 9dSep 2020 - Oct 2020
2024 pullback2024	-4.83%Aug 2024	19d	14d	1mo 3dJul 2024 - Aug 2024

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 11 assets, with an effective number of assets of 8.13, 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	1.18	1.20	1.19	1.19

The portfolio has a diversification ratio of 1.19, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.

Moderate Portfolio - Morningstar Allocations correlation to the S&P 500 Index

Moderate Portfolio - Morningstar Allocations has a 0.92 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 28, 2020	0.93

Benchmark Correlations

Correlation vs. S&P 500 Index. FNDX has the highest benchmark correlation at 0.87, while SGOV has the lowest at -0.02.

-0.02

0.11

0.15

0.35

0.41

0.67

0.78

0.83

0.84

SPMO

0.85

FNDX

0.87

Portfolio Correlations

Correlation vs. Moderate Portfolio - Morningstar Allocations. FNDX has the highest portfolio correlation at 0.91, while SGOV has the lowest at -0.02.

-0.02

0.21

0.23

0.46

0.51

0.75

0.86

0.87

0.90

0.91

Asset Correlations Table

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

	SGOV	PTIAX	BNDX	PONAX	PFIIX	AVEM	SPMO	FNDX	IJH	VEA	VB
SGOV	1.00	0.00	0.00	0.01	0.01	-0.00	-0.01	-0.03	-0.03	-0.03	-0.03
PTIAX	0.00	1.00	0.79	0.72	0.53	0.11	0.07	0.07	0.10	0.18	0.11
BNDX	0.00	0.79	1.00	0.59	0.43	0.14	0.11	0.10	0.13	0.20	0.14
PONAX	0.01	0.72	0.59	1.00	0.86	0.37	0.26	0.34	0.35	0.45	0.36
PFIIX	0.01	0.53	0.43	0.86	1.00	0.40	0.33	0.41	0.41	0.47	0.43
AVEM	-0.00	0.11	0.14	0.37	0.40	1.00	0.61	0.61	0.62	0.81	0.64
SPMO	-0.01	0.07	0.11	0.26	0.33	0.61	1.00	0.69	0.67	0.66	0.69
FNDX	-0.03	0.07	0.10	0.34	0.41	0.61	0.69	1.00	0.91	0.78	0.90
IJH	-0.03	0.10	0.13	0.35	0.41	0.62	0.67	0.91	1.00	0.77	0.98
VEA	-0.03	0.18	0.20	0.45	0.47	0.81	0.66	0.78	0.77	1.00	0.77
VB	-0.03	0.11	0.14	0.36	0.43	0.64	0.69	0.90	0.98	0.77	1.00

The correlation results are calculated based on daily price changes starting from May 28, 2020

Diversification Analysis

Find what Moderate Portfolio - Morningstar Allocations is missing

See which holdings overlap, where Moderate Portfolio - Morningstar Allocations is concentrated, and which low-correlation assets could fill the gaps.

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