Real Assets

Asset Allocation

Position	Category/Sector	Target Weight
ASET FlexShares Real Assets Allocation Index Fund	Diversified Portfolio	5.88%
AVRE Avantis Real Estate ETF	REIT	5.88%
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	Commodities, Actively Managed	5.88%
ENFR Alerian Energy Infrastructure ETF	Energy Equities	5.88%
GLD SPDR Gold Shares	Gold, Precious Metals	5.88%
GQRE FlexShares Global Quality Real Estate Index Fund	REIT	5.88%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	Commodity Producers Equities	5.88%
IFRA iShares U.S. Infrastructure ETF	Industrials Equities	5.88%
IQRA IQ CBRE Real Assets ETF	REIT	5.88%
MLPX Global X MLP & Energy Infrastructure ETF	MLPs	5.88%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	Utilities Equities	5.88%
PAVE Global X US Infrastructure Development ETF	Utilities Equities	5.88%
RLY SPDR SSgA Multi-Asset Real Return ETF	Hedge Fund, Actively Managed	5.88%
VDE Vanguard Energy ETF	Energy Equities	5.88%
VNQ Vanguard Real Estate ETF	REIT	5.88%
VRAI Virtus Real Asset Income ETF	REIT	5.88%
XLE State Street Energy Select Sector SPDR ETF	Energy Equities	5.88%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Real Assets, 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 Feb 6, 2026, corresponding to the inception date of ASET

Returns By Period

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	0.11%	-3.43%	-3.84%	-1.98%	16.08%	16.86%	10.37%	12.29%
Portfolio Real Assets	0.08%	-0.76%	—	—	—	—	—	—
Portfolio components:
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	-0.53%	2.83%	14.95%	20.73%	22.18%	10.87%	13.69%	—
XLE State Street Energy Select Sector SPDR ETF	0.47%	5.52%	33.39%	36.01%	29.93%	14.70%	23.16%	11.36%
VDE Vanguard Energy ETF	0.76%	6.05%	34.23%	36.66%	32.62%	15.51%	23.51%	11.00%
PAVE Global X US Infrastructure Development ETF	-0.75%	-5.46%	7.34%	7.91%	34.04%	22.82%	16.08%	—
IFRA iShares U.S. Infrastructure ETF	-0.07%	-3.49%	10.08%	10.66%	28.01%	17.94%	12.76%	—
MLPX Global X MLP & Energy Infrastructure ETF	0.77%	0.69%	22.30%	20.73%	18.25%	28.16%	24.37%	14.56%
RLY SPDR SSgA Multi-Asset Real Return ETF	-0.14%	-0.48%	14.90%	19.17%	30.37%	13.06%	12.01%	8.81%
VRAI Virtus Real Asset Income ETF	-1.07%	0.31%	16.21%	13.87%	18.27%	10.03%	6.10%	—
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	-0.02%	-0.96%	20.73%	27.72%	45.55%	12.85%	12.39%	12.13%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	-0.02%	-4.05%	5.93%	6.24%	17.36%	11.49%	6.00%	7.17%

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

Monthly Returns

Based on dividend-adjusted daily data since Feb 9, 2026, Real Assets's average daily return is +0.09%, while the average monthly return is +1.12%. At this rate, your investment would double in approximately 5.2 years.

Historically, 33% of months were positive and 67% were negative. The best month was Feb 2026 with a return of +4.7%, while the worst month was Mar 2026 at -1.1%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 2 months.

On a daily basis, Real Assets closed higher 58% of trading days. The best single day was Feb 13, 2026 with a return of +1.2%, while the worst single day was Mar 20, 2026 at -1.6%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026		4.69%	-1.12%	-0.22%									3.29%

Expense Ratio

Real Assets has an expense ratio of 0.38%, 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

IQRA

IQ CBRE Real Assets ETF

ASET

FlexShares Real Assets Allocation Index Fund

VRAI

Virtus Real Asset Income ETF

RLY

SPDR SSgA Multi-Asset Real Return ETF

PAVE

Global X US Infrastructure Development ETF

NFRA

FlexShares STOXX Global Broad Infrastructure Index Fund

GUNR

FlexShares Morningstar Global Upstream Natural Resources Index Fund

MLPX

Global X MLP & Energy Infrastructure ETF

GQRE

FlexShares Global Quality Real Estate Index Fund

GLD

SPDR Gold Shares

Return for 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
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	74	1.47	1.97	1.28	2.27	7.10
XLE State Street Energy Select Sector SPDR ETF	54	1.19	1.58	1.23	1.60	4.21
VDE Vanguard Energy ETF	60	1.30	1.70	1.25	1.74	4.96
PAVE Global X US Infrastructure Development ETF	80	1.53	2.20	1.29	2.89	10.51
IFRA iShares U.S. Infrastructure ETF	82	1.65	2.34	1.30	2.79	11.79
MLPX Global X MLP & Energy Infrastructure ETF	44	0.97	1.29	1.20	1.29	4.00
RLY SPDR SSgA Multi-Asset Real Return ETF	94	2.31	3.01	1.47	3.10	18.32
VRAI Virtus Real Asset Income ETF	51	1.03	1.44	1.22	1.19	5.49
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	95	2.44	3.02	1.47	3.46	19.38
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	75	1.39	1.94	1.28	2.26	8.27

Sharpe Ratio

There isn't enough data available to calculate the Sharpe ratio for Real Assets. This metric is based on the past 12 months of trading data. Please check back later for updated information.

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Dividends

Dividend yield

Real Assets provided a 3.51% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	3.51%	4.03%	3.15%	3.06%	3.09%	3.53%	2.77%	2.65%	2.27%	1.56%	1.71%	1.75%
Portfolio components:
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	14.97%	17.21%	3.60%	4.51%	5.21%	8.30%	1.29%	1.55%	1.59%	0.07%	0.00%	0.00%
XLE State Street Energy Select Sector SPDR ETF	2.52%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%
VDE Vanguard Energy ETF	2.34%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%
PAVE Global X US Infrastructure Development ETF	0.86%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%	0.00%	0.00%
IFRA iShares U.S. Infrastructure ETF	1.69%	1.84%	1.75%	1.98%	1.98%	1.63%	2.08%	1.68%	2.50%	0.00%	0.00%	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%
RLY SPDR SSgA Multi-Asset Real Return ETF	2.92%	3.24%	3.31%	3.71%	5.66%	12.15%	2.16%	3.45%	2.76%	1.85%	2.07%	1.80%
VRAI Virtus Real Asset Income ETF	3.37%	4.68%	7.13%	5.02%	4.48%	3.34%	3.91%	2.80%	0.00%	0.00%	0.00%	0.00%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.21%	2.81%	3.39%	3.55%	4.12%	3.61%	2.79%	3.25%	3.27%	2.00%	1.73%	4.50%
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund	5.69%	6.00%	3.33%	2.57%	2.28%	2.71%	2.22%	2.27%	3.06%	2.81%	2.98%	2.47%

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 Real Assets. 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 Real Assets was 4.18%, occurring on Mar 20, 2026. The portfolio has not yet recovered.

The current Real Assets drawdown is 2.13%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-4.18%	Mar 3, 2026	14	Mar 20, 2026	—	—	—
-0.98%	Feb 12, 2026	1	Feb 12, 2026	1	Feb 13, 2026	2
-0.48%	Feb 17, 2026	1	Feb 17, 2026	2	Feb 19, 2026	3
-0.16%	Feb 25, 2026	1	Feb 25, 2026	1	Feb 26, 2026	2

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 17 assets, with an effective number of assets of 17.00, 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.

	Benchmark	ASET	GLD	BCD	ENFR	MLPX	XLE	VDE	VNQ	RLY	PAVE	VRAI	GQRE	NFRA	GUNR	AVRE	IQRA	IFRA	Portfolio
Benchmark	1.00	0.00	0.29	-0.21	-0.05	0.01	-0.17	-0.16	0.54	0.27	0.74	0.28	0.56	0.58	0.42	0.56	0.62	0.65	0.46
ASET	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	0.00	0.00
GLD	0.29	0.00	1.00	0.47	0.08	0.05	0.06	0.06	0.17	0.72	0.39	0.24	0.34	0.33	0.62	0.30	0.39	0.39	0.61
BCD	-0.21	0.00	0.47	1.00	0.23	0.14	0.43	0.43	-0.45	0.66	-0.14	0.15	-0.35	-0.32	0.40	-0.40	-0.32	-0.15	0.27
ENFR	-0.05	0.00	0.08	0.23	1.00	0.97	0.75	0.77	0.06	0.38	0.14	0.63	0.00	0.12	0.36	0.05	0.04	0.28	0.61
MLPX	0.01	0.00	0.05	0.14	0.97	1.00	0.70	0.72	0.14	0.35	0.17	0.66	0.09	0.17	0.34	0.12	0.10	0.33	0.64
XLE	-0.17	0.00	0.06	0.43	0.75	0.70	1.00	0.99	-0.29	0.50	0.02	0.56	-0.32	-0.14	0.52	-0.29	-0.25	0.07	0.48
VDE	-0.16	0.00	0.06	0.43	0.77	0.72	0.99	1.00	-0.27	0.49	0.04	0.59	-0.31	-0.14	0.51	-0.28	-0.25	0.10	0.50
VNQ	0.54	0.00	0.17	-0.45	0.06	0.14	-0.29	-0.27	1.00	0.03	0.52	0.36	0.87	0.68	0.14	0.89	0.79	0.62	0.43
RLY	0.27	0.00	0.72	0.66	0.38	0.35	0.50	0.49	0.03	1.00	0.38	0.52	0.17	0.31	0.88	0.15	0.30	0.43	0.78
PAVE	0.74	0.00	0.39	-0.14	0.14	0.17	0.02	0.04	0.52	0.38	1.00	0.50	0.59	0.62	0.58	0.60	0.66	0.89	0.67
VRAI	0.28	0.00	0.24	0.15	0.63	0.66	0.56	0.59	0.36	0.52	0.50	1.00	0.36	0.44	0.58	0.38	0.41	0.57	0.77
GQRE	0.56	0.00	0.34	-0.35	0.00	0.09	-0.32	-0.31	0.87	0.17	0.59	0.36	1.00	0.79	0.25	0.96	0.93	0.68	0.49
NFRA	0.58	0.00	0.33	-0.32	0.12	0.17	-0.14	-0.14	0.68	0.31	0.62	0.44	0.79	1.00	0.47	0.84	0.90	0.73	0.60
GUNR	0.42	0.00	0.62	0.40	0.36	0.34	0.52	0.51	0.14	0.88	0.58	0.58	0.25	0.47	1.00	0.26	0.41	0.60	0.83
AVRE	0.56	0.00	0.30	-0.40	0.05	0.12	-0.29	-0.28	0.89	0.15	0.60	0.38	0.96	0.84	0.26	1.00	0.94	0.72	0.52
IQRA	0.62	0.00	0.39	-0.32	0.04	0.10	-0.25	-0.25	0.79	0.30	0.66	0.41	0.93	0.90	0.41	0.94	1.00	0.78	0.58
IFRA	0.65	0.00	0.39	-0.15	0.28	0.33	0.07	0.10	0.62	0.43	0.89	0.57	0.68	0.73	0.60	0.72	0.78	1.00	0.76
Portfolio	0.46	0.00	0.61	0.27	0.61	0.64	0.48	0.50	0.43	0.78	0.67	0.77	0.49	0.60	0.83	0.52	0.58	0.76	1.00

The correlation results are calculated based on daily price changes starting from Feb 9, 2026