2 | PortfoliosLab

Asset Allocation

Position	Category/Sector	Target Weight
GLDM SPDR Gold MiniShares Trust	Gold, Precious Metals	10%
LVHI Franklin International Low Volatility High Dividend Index ETF	Volatility Hedged Equity, Dividend	10%
SMH VanEck Semiconductor ETF	Semiconductors, Technology Equities	10%
ITA iShares U.S. Aerospace & Defense ETF	Aerospace & Defense, Industrials Equities	10%
MLPX Global X MLP & Energy Infrastructure ETF	MLPs	10%
IGF iShares Global Infrastructure ETF	Industrials Equities	10%
NLR VanEck Uranium and Nuclear ETF	Uranium, Alternative Energy Equities	10%
SPY State Street SPDR S&P 500 ETF	S&P 500	10%
QQQ Invesco QQQ ETF	Nasdaq-100	10%
DXJ WisdomTree Japan Hedged Equity Fund	Japan Equities	10%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Portfolio Optimizer

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in 2, 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	0.50%	-0.93%	8.56%	8.85%	24.33%	19.37%	11.84%	13.61%
Portfolio 2	0.57%	-0.52%	17.90%	18.70%	40.65%	30.68%	20.85%	—
Portfolio components:
DXJ WisdomTree Japan Hedged Equity Fund	0.74%	-0.37%	18.74%	19.84%	54.41%	30.91%	26.01%	18.72%
GLDM SPDR Gold MiniShares Trust	0.11%	-9.52%	-2.40%	-2.09%	22.58%	29.27%	17.41%	—
IGF iShares Global Infrastructure ETF	0.67%	-0.03%	9.68%	10.24%	17.04%	16.28%	10.22%	8.67%
ITA iShares U.S. Aerospace & Defense ETF	-0.95%	4.16%	8.97%	11.71%	30.42%	27.30%	16.86%	15.34%
LVHI Franklin International Low Volatility High Dividend Index ETF	0.49%	0.84%	13.78%	14.96%	32.13%	21.52%	15.97%	—
MLPX Global X MLP & Energy Infrastructure ETF	0.30%	-1.75%	25.23%	25.77%	24.35%	28.72%	20.50%	12.72%
NLR VanEck Uranium and Nuclear ETF	0.84%	-9.40%	-1.81%	-3.70%	19.00%	29.88%	19.78%	12.80%
QQQ Invesco QQQ ETF	0.59%	0.22%	17.57%	17.85%	37.55%	26.43%	16.85%	21.79%
SMH VanEck Semiconductor ETF	1.72%	7.20%	72.15%	75.62%	141.99%	60.05%	38.42%	37.49%
SPY State Street SPDR S&P 500 ETF	0.54%	-0.86%	9.07%	9.42%	25.67%	20.86%	13.36%	15.42%

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

Monthly Returns

Based on dividend-adjusted daily data since Jun 26, 2018, 2's average daily return is +0.07%, while the average monthly return is +1.50%. At this rate, an investment would double in approximately 3.9 years.

Historically, 71% of months were positive and 29% were negative. The best month was Nov 2020 with a return of +11.8%, while the worst month was Mar 2020 at -15.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.

On a daily basis, 2 closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +8.4%, while the worst single day was Mar 16, 2020 at -10.7%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	7.85%	4.77%	-5.43%	7.56%	3.56%	-0.95%							17.90%
2025	3.75%	-1.57%	-1.37%	1.11%	8.06%	5.90%	2.09%	2.36%	6.11%	4.03%	-0.59%	1.08%	35.06%
2024	1.73%	4.17%	4.71%	-1.33%	5.93%	0.65%	1.56%	1.19%	2.60%	1.02%	4.22%	-3.25%	25.37%
2023	6.95%	-1.76%	3.79%	0.93%	0.53%	5.77%	3.06%	-0.97%	-2.10%	-0.32%	7.81%	3.34%	29.87%
2022	-2.02%	1.33%	3.28%	-5.57%	1.86%	-7.30%	6.63%	-2.64%	-8.73%	6.20%	7.58%	-4.02%	-5.01%
2021	-0.45%	2.26%	5.24%	2.45%	2.83%	0.47%	0.15%	1.54%	-1.66%	3.95%	-1.53%	3.76%	20.47%

Benchmark Metrics

2 has an annualized alpha of 6.67%, beta of 0.83, and R2 of 0.87 versus S&P 500 Index. Calculated based on daily prices since June 26, 2018.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (92.09%) than losses (70.61%) - typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 6.67% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.

Alpha: 6.67%

Beta: 0.83

R²: 0.87

Upside Capture: 92.09%

Downside Capture: 70.61%

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

Expense Ratio

2 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.

NLR

VanEck Uranium and Nuclear ETF

DXJ

WisdomTree Japan Hedged Equity Fund

MLPX

Global X MLP & Energy Infrastructure ETF

LVHI

Franklin International Low Volatility High Dividend Index ETF

IGF

iShares Global Infrastructure ETF

ITA

iShares U.S. Aerospace & Defense ETF

SMH

VanEck Semiconductor ETF

QQQ

Invesco QQQ ETF

GLDM

SPDR Gold MiniShares Trust

SPY

State Street SPDR S&P 500 ETF

Return for Risk

Risk / Return Rank

2 ranks 86 for risk / return — in the top 86% 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.

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 2 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	2.70	1.86	+0.84
Sortino ratioReturn per unit of downside risk	3.55	2.53	+1.01
Omega ratioGain probability vs. loss probability	1.48	1.34	+0.15
Calmar ratioReturn relative to maximum drawdown	4.60	2.53	+2.07
Martin ratioReturn relative to average drawdown	18.94	11.37	+7.57

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
DXJ WisdomTree Japan Hedged Equity Fund	91	3.02	4.04	1.54	4.88	18.93
GLDM SPDR Gold MiniShares Trust	26	0.90	1.26	1.19	1.00	2.87
IGF iShares Global Infrastructure ETF	52	1.55	2.22	1.27	2.78	8.03
ITA iShares U.S. Aerospace & Defense ETF	43	1.43	2.11	1.25	1.97	5.20
LVHI Franklin International Low Volatility High Dividend Index ETF	93	3.31	4.54	1.63	5.23	21.61
MLPX Global X MLP & Energy Infrastructure ETF	55	1.65	2.30	1.28	3.07	7.67
NLR VanEck Uranium and Nuclear ETF	17	0.44	0.90	1.10	0.63	1.41
QQQ Invesco QQQ ETF	69	2.09	2.73	1.37	3.01	11.22
SMH VanEck Semiconductor ETF	95	4.13	4.26	1.60	9.18	33.74
SPY State Street SPDR S&P 500 ETF	67	1.98	2.68	1.36	2.74	12.39

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. Learn how to interpret the Sharpe ratio.

The current 2 Sharpe ratio is 2.70 as of Jun 13, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.54 to 2.41, 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 2 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

2 provided a 1.74% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.74%	1.92%	1.88%	2.82%	2.53%	2.01%	2.32%	2.59%	3.27%	2.28%	2.11%	2.35%
Portfolio components:
DXJ WisdomTree Japan Hedged Equity Fund	1.09%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
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%
IGF iShares Global Infrastructure ETF	2.94%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%
ITA iShares U.S. Aerospace & Defense ETF	0.46%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%
LVHI Franklin International Low Volatility High Dividend Index ETF	4.69%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%	0.00%
MLPX Global X MLP & Energy Infrastructure ETF	4.10%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%
NLR VanEck Uranium and Nuclear ETF	2.60%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
QQQ Invesco QQQ ETF	0.39%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
SMH VanEck Semiconductor ETF	0.18%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%
SPY State Street SPDR S&P 500 ETF	1.00%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

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 2. 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 2 was 33.35%, occurring on Mar 23, 2020. Recovery took 163 trading sessions.

The current 2 drawdown is 2.02%.

Related event	Drawdown	Fall	Recovery	Underwater
COVID crash2020	-33.35%Mar 2020	1mo 2d	7mo 23d	8mo 25dFeb 2020 - Nov 2020
Bear market2022	-17.29%Oct 2022	6mo 18d	5mo 21d	1y 4dMar 2022 - Apr 2023
2025 selloff2025	-15.36%Apr 2025	2mo 14d	1mo 5d	3mo 19dJan 2025 - May 2025
Rate-hike selloffLate 2018	-14.90%Dec 2018	2mo 22d	2mo 24d	5mo 16dOct 2018 - Mar 2019
2024 pullback2024	-9.60%Aug 2024	19d	1mo 19d	2mo 8dJul 2024 - Sep 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 10 assets, with an effective number of assets of 10.00, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio

	1Y	3Y	5Y	All Time
Diversification Ratio	1.43	1.38	1.35	1.30

The portfolio has a diversification ratio of 1.30, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.

2 correlation to the S&P 500 Index

2 has a 0.81 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018	0.90

Benchmark Correlations

Correlation vs. S&P 500 Index. SPY has the highest benchmark correlation at 1.00, while GLDM has the lowest at 0.08.

0.08

0.48

0.58

0.60

0.63

0.65

0.66

0.79

0.92

1.00

Portfolio Correlations

Correlation vs. 2. SPY has the highest portfolio correlation at 0.90, while GLDM has the lowest at 0.24.

0.24

0.63

0.68

0.71

0.73

0.74

0.76

0.78

0.81

0.90

Asset Correlations Table

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

	GLDM	MLPX	NLR	LVHI	DXJ	ITA	SMH	IGF	QQQ	SPY
GLDM	1.00	0.11	0.25	0.07	-0.02	0.08	0.08	0.25	0.08	0.08
MLPX	0.11	1.00	0.43	0.47	0.43	0.50	0.33	0.63	0.32	0.48
NLR	0.25	0.43	1.00	0.47	0.46	0.51	0.45	0.62	0.49	0.58
LVHI	0.07	0.47	0.47	1.00	0.65	0.50	0.44	0.64	0.47	0.60
DXJ	-0.02	0.43	0.46	0.65	1.00	0.53	0.53	0.49	0.55	0.64
ITA	0.08	0.50	0.51	0.50	0.53	1.00	0.46	0.57	0.49	0.65
SMH	0.08	0.33	0.45	0.44	0.53	0.46	1.00	0.43	0.86	0.79
IGF	0.25	0.63	0.62	0.64	0.49	0.57	0.43	1.00	0.50	0.66
QQQ	0.08	0.32	0.49	0.47	0.55	0.49	0.86	0.50	1.00	0.92
SPY	0.08	0.48	0.58	0.60	0.64	0.65	0.79	0.66	0.92	1.00

The correlation results are calculated based on daily price changes starting from Jun 26, 2018

Diversification Analysis

Find what 2 is missing

See which holdings overlap, where 2 is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification