Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
BTAL AGFiQ US Market Neutral Anti-Beta Fund | Long-Short | 6.25% |
COST Costco Wholesale Corporation | Consumer Defensive | 7.50% |
DOG ProShares Short Dow30 | Inverse Equities | -9% |
EUO ProShares UltraShort Euro | Leveraged Currency, Leveraged | 6.25% |
FICO Fair Isaac Corporation | Technology | 7.50% |
HEI HEICO Corporation | Industrials | 7.50% |
IAU iShares Gold Trust | Gold, Precious Metals | 6.25% |
LLY Eli Lilly and Company | Healthcare | 13.75% |
NVO Novo Nordisk A/S | Healthcare | 6.25% |
PGR The Progressive Corporation | Financial Services | 13.75% |
PSQ ProShares Short QQQ | Inverse Equities | -8.50% |
SO The Southern Company | Utilities | 6.25% |
USD=X USD Cash | -670% | |
VMFXX Vanguard Federal Money Market Fund | Money Market | 700% |
YCS ProShares UltraShort Yen | Leveraged Currency, Leveraged | 6.25% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in shorting, 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 May 25, 2021, corresponding to the inception date of VMFXX
Returns By Period
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | -0.11% | 2.78% | -0.42% | 4.03% | 27.10% | 18.38% | 10.55% | 12.70% |
Portfolio shorting | — | — | — | — | — | — | — | — |
| Portfolio components: | ||||||||
LLY Eli Lilly and Company | -1.65% | -4.63% | -12.44% | 13.07% | 29.22% | 38.18% | 39.87% | 31.00% |
COST Costco Wholesale Corporation | -3.25% | -0.99% | 15.94% | 7.66% | 4.21% | 27.76% | 23.76% | 22.92% |
PGR The Progressive Corporation | -2.88% | -5.33% | -9.29% | -13.93% | -25.00% | 12.65% | 17.81% | 22.12% |
FICO Fair Isaac Corporation | -13.99% | -18.46% | -45.44% | -44.61% | -51.16% | 10.75% | 12.22% | 24.38% |
DOG ProShares Short Dow30 | 0.64% | -2.66% | 1.07% | -3.40% | -12.71% | -6.53% | -4.97% | -10.81% |
PSQ ProShares Short QQQ | -0.07% | -2.87% | 1.28% | -2.09% | -22.78% | -16.69% | -11.25% | -17.73% |
HEI HEICO Corporation | -1.38% | 0.25% | -10.60% | -5.72% | 15.77% | 19.75% | 17.23% | 25.34% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | -1.85% | -7.85% | -7.78% | -14.76% | -35.10% | -10.25% | -2.43% | -3.64% |
EUO ProShares UltraShort Euro | -0.86% | -5.09% | 1.31% | -0.07% | -2.21% | -0.03% | 3.91% | 2.17% |
IAU iShares Gold Trust | -0.18% | -5.11% | 10.34% | 18.50% | 46.92% | 33.09% | 21.94% | 13.95% |
Monthly Returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.04% | 1.06% | -6.10% | 0.03% | -2.20% | ||||||||
| 2025 | 4.76% | 8.02% | -1.32% | 2.89% | 1.75% | 2.92% | -2.51% | 3.48% | 4.30% | 2.86% | 8.12% | 1.29% | 42.64% |
| 2024 | 5.99% | 5.82% | 3.25% | 0.52% | 8.08% | 3.93% | -0.62% | 7.47% | 2.77% | -0.95% | 6.95% | -3.01% | 47.47% |
| 2023 | 5.65% | 1.28% | 6.95% | 5.61% | 3.51% | 6.98% | 2.72% | 7.63% | 2.05% | 6.28% | 8.91% | 0.80% | 76.18% |
| 2022 | -2.18% | -0.41% | 7.27% | -2.72% | 2.02% | -0.61% | 5.49% | -1.66% | -3.68% | 7.92% | 4.75% | -2.82% | 13.16% |
| 2021 | 0.52% | 2.91% | 2.65% | 1.52% | -4.40% | 5.73% | -0.89% | 7.69% | 16.30% |
Benchmark Metrics
shorting has an annualized alpha of 30.93%, beta of 0.54, and R² of 0.43 versus S&P 500 Index. Calculated based on daily prices since May 26, 2021.
- This portfolio captured 121.20% of S&P 500 Index gains but only 1.64% of its losses — a favorable profile for investors.
- Beta of 0.54 may look defensive, but with R² of 0.43 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
- R² of 0.43 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 30.93%
- Beta
- 0.54
- R²
- 0.43
- Upside Capture
- 121.20%
- Downside Capture
- 1.64%
Expense Ratio
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
shorting ranks 90 for risk / return — in the top 90% 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.
Return / Risk — by metrics
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 | |
|---|---|---|---|---|---|---|
LLY Eli Lilly and Company | 52 | 0.76 | 1.26 | 1.18 | 1.00 | 2.43 |
COST Costco Wholesale Corporation | 37 | 0.22 | 0.45 | 1.05 | 0.54 | 1.08 |
PGR The Progressive Corporation | 7 | -1.09 | -1.46 | 0.83 | -0.70 | -1.11 |
FICO Fair Isaac Corporation | 5 | -0.96 | -1.34 | 0.81 | -0.77 | -1.52 |
DOG ProShares Short Dow30 | 1 | -1.07 | -1.45 | 0.83 | -0.88 | -1.24 |
PSQ ProShares Short QQQ | 1 | -1.43 | -2.07 | 0.77 | -1.01 | -1.29 |
HEI HEICO Corporation | 47 | 0.55 | 0.95 | 1.13 | 0.81 | 2.53 |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 0 | -1.67 | -2.56 | 0.73 | -0.99 | -1.41 |
EUO ProShares UltraShort Euro | 3 | -0.30 | -0.33 | 0.96 | -0.61 | -0.92 |
IAU iShares Gold Trust | 40 | 1.84 | 2.26 | 1.34 | 3.08 | 10.60 |
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Dividends
Dividend yield
shorting provided a 26.85% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 26.85% | 29.23% | 11.00% | 31.82% | 0.56% | 1.40% | 1.21% | 1.02% | 0.91% | 1.26% | 1.29% | 1.30% |
| Portfolio components: | ||||||||||||
LLY Eli Lilly and Company | 0.66% | 0.56% | 0.67% | 0.78% | 1.07% | 1.23% | 1.75% | 1.96% | 1.94% | 2.46% | 2.77% | 2.37% |
COST Costco Wholesale Corporation | 0.52% | 0.59% | 0.49% | 2.87% | 0.76% | 0.54% | 3.38% | 0.86% | 1.08% | 4.81% | 1.09% | 4.06% |
PGR The Progressive Corporation | 7.16% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
FICO Fair Isaac Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.07% | 0.08% |
DOG ProShares Short Dow30 | 3.31% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% | 0.00% | 0.00% |
PSQ ProShares Short QQQ | 4.32% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% | 0.00% | 0.00% |
HEI HEICO Corporation | 0.08% | 0.07% | 0.09% | 0.11% | 0.12% | 0.12% | 0.12% | 0.12% | 0.14% | 0.08% | 0.22% | 0.28% |
BTAL AGFiQ US Market Neutral Anti-Beta Fund | 2.70% | 2.49% | 3.49% | 6.14% | 1.01% | 0.00% | 0.00% | 0.88% | 0.39% | 0.00% | 0.00% | 0.00% |
EUO ProShares UltraShort Euro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IAU iShares Gold 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% |
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 shorting. 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 shorting was 9.28%, occurring on Apr 8, 2025. Recovery took 22 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -9.28% | Mar 3, 2025 | 37 | Apr 8, 2025 | 22 | Apr 30, 2025 | 59 |
| -9.22% | Apr 8, 2022 | 70 | Jun 16, 2022 | 42 | Jul 28, 2022 | 112 |
| -7.92% | Mar 3, 2026 | 25 | Mar 27, 2026 | — | — | — |
| -7.76% | Aug 22, 2022 | 40 | Sep 30, 2022 | 41 | Nov 10, 2022 | 81 |
| -6.04% | Aug 23, 2021 | 37 | Sep 28, 2021 | 36 | Nov 3, 2021 | 73 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Diversification
Asset Correlations Table
| Benchmark | USD=X | VMFXX | YCS | IAU | SO | EUO | PGR | NVO | LLY | BTAL | FICO | COST | HEI | PSQ | DOG | Portfolio | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.00 | 0.03 | -0.01 | 0.11 | 0.19 | -0.26 | 0.24 | 0.35 | 0.33 | -0.64 | 0.51 | 0.53 | 0.55 | -0.94 | -0.88 | 0.64 |
| USD=X | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| VMFXX | 0.03 | 0.00 | 1.00 | 0.04 | 0.01 | 0.04 | 0.06 | 0.06 | 0.03 | 0.04 | 0.03 | 0.04 | 0.05 | 0.06 | 0.00 | -0.03 | 0.22 |
| YCS | -0.01 | 0.00 | 0.04 | 1.00 | -0.33 | -0.15 | 0.42 | 0.01 | -0.05 | -0.00 | 0.02 | -0.03 | -0.01 | 0.03 | 0.00 | 0.02 | 0.07 |
| IAU | 0.11 | 0.00 | 0.01 | -0.33 | 1.00 | 0.17 | -0.35 | 0.00 | 0.07 | 0.03 | -0.11 | 0.05 | 0.07 | 0.08 | -0.08 | -0.10 | 0.08 |
| SO | 0.19 | 0.00 | 0.04 | -0.15 | 0.17 | 1.00 | -0.12 | 0.27 | 0.09 | 0.17 | 0.14 | 0.08 | 0.24 | 0.16 | -0.05 | -0.26 | 0.31 |
| EUO | -0.26 | 0.00 | 0.06 | 0.42 | -0.35 | -0.12 | 1.00 | -0.07 | -0.15 | -0.06 | 0.18 | -0.17 | -0.11 | -0.12 | 0.20 | 0.24 | -0.07 |
| PGR | 0.24 | 0.00 | 0.06 | 0.01 | 0.00 | 0.27 | -0.07 | 1.00 | 0.10 | 0.16 | 0.08 | 0.17 | 0.25 | 0.26 | -0.09 | -0.34 | 0.49 |
| NVO | 0.35 | 0.00 | 0.03 | -0.05 | 0.07 | 0.09 | -0.15 | 0.10 | 1.00 | 0.43 | -0.14 | 0.21 | 0.20 | 0.18 | -0.27 | -0.30 | 0.47 |
| LLY | 0.33 | 0.00 | 0.04 | -0.00 | 0.03 | 0.17 | -0.06 | 0.16 | 0.43 | 1.00 | -0.04 | 0.19 | 0.24 | 0.20 | -0.27 | -0.30 | 0.60 |
| BTAL | -0.64 | 0.00 | 0.03 | 0.02 | -0.11 | 0.14 | 0.18 | 0.08 | -0.14 | -0.04 | 1.00 | -0.28 | -0.17 | -0.31 | 0.60 | 0.44 | -0.15 |
| FICO | 0.51 | 0.00 | 0.04 | -0.03 | 0.05 | 0.08 | -0.17 | 0.17 | 0.21 | 0.19 | -0.28 | 1.00 | 0.33 | 0.31 | -0.47 | -0.45 | 0.51 |
| COST | 0.53 | 0.00 | 0.05 | -0.01 | 0.07 | 0.24 | -0.11 | 0.25 | 0.20 | 0.24 | -0.17 | 0.33 | 1.00 | 0.29 | -0.47 | -0.44 | 0.51 |
| HEI | 0.55 | 0.00 | 0.06 | 0.03 | 0.08 | 0.16 | -0.12 | 0.26 | 0.18 | 0.20 | -0.31 | 0.31 | 0.29 | 1.00 | -0.40 | -0.51 | 0.50 |
| PSQ | -0.94 | 0.00 | 0.00 | 0.00 | -0.08 | -0.05 | 0.20 | -0.09 | -0.27 | -0.27 | 0.60 | -0.47 | -0.47 | -0.40 | 1.00 | 0.65 | -0.49 |
| DOG | -0.88 | 0.00 | -0.03 | 0.02 | -0.10 | -0.26 | 0.24 | -0.34 | -0.30 | -0.30 | 0.44 | -0.45 | -0.44 | -0.51 | 0.65 | 1.00 | -0.62 |
| Portfolio | 0.64 | 0.00 | 0.22 | 0.07 | 0.08 | 0.31 | -0.07 | 0.49 | 0.47 | 0.60 | -0.15 | 0.51 | 0.51 | 0.50 | -0.49 | -0.62 | 1.00 |