Exchanges
Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
COIN Coinbase Global, Inc. | Technology | 25% |
ENX.PA Euronext N.V. | Financial Services | 25% |
LSEG.L London Stock Exchange Group plc | Financial Services | 25% |
NDAQ Nasdaq, Inc. | Financial Services | 25% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Exchanges, 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.
The earliest data available for this chart is Apr 14, 2021, corresponding to the inception date of COIN
Returns By Period
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | -8.09% | -4.13% | -7.75% | 5.52% | 14.25% | 10.05% |
| Exchanges | 1.73% | 3.65% | 12.57% | 22.54% | N/A | N/A |
| Portfolio components: | ||||||
ENX.PA Euronext N.V. | 38.67% | 13.42% | 41.11% | 72.10% | 18.40% | 17.34% |
LSEG.L London Stock Exchange Group plc | 3.44% | 2.81% | 9.98% | 27.58% | 10.68% | 17.44% |
NDAQ Nasdaq, Inc. | -5.55% | -0.66% | 0.92% | 19.93% | 17.26% | 18.19% |
COIN Coinbase Global, Inc. | -28.88% | -3.57% | -10.07% | -28.15% | N/A | N/A |
Monthly Returns
The table below presents the monthly returns of Exchanges, 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 | 8.19% | -4.78% | -2.39% | 1.16% | 1.73% | ||||||||
| 2024 | -6.97% | 11.21% | 13.40% | -10.20% | 6.49% | -0.76% | 6.24% | 1.42% | 0.39% | 0.70% | 20.45% | -7.00% | 35.85% |
| 2023 | 19.83% | -0.14% | 3.46% | -1.75% | 0.09% | 1.72% | 13.22% | -7.12% | -4.84% | 1.18% | 26.46% | 17.14% | 85.72% |
| 2022 | -10.78% | -5.06% | 6.14% | -16.84% | -4.97% | -8.13% | 13.87% | -1.20% | -7.44% | 3.49% | 2.86% | -10.62% | -35.34% |
| 2021 | -1.99% | -0.31% | 3.84% | -0.86% | 5.91% | -5.79% | 11.43% | -6.41% | -2.77% | 1.76% |
Expense Ratio
Exchanges has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 86, Exchanges is among the top 14% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
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.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
ENX.PA Euronext N.V. | 3.39 | 4.29 | 1.58 | 3.15 | 30.82 |
LSEG.L London Stock Exchange Group plc | 1.38 | 1.89 | 1.30 | 2.04 | 10.60 |
NDAQ Nasdaq, Inc. | 0.89 | 1.33 | 1.19 | 1.02 | 4.11 |
COIN Coinbase Global, Inc. | -0.30 | 0.09 | 1.01 | -0.43 | -0.99 |
Dividends
Dividend yield
Exchanges provided a 1.05% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.05% | 1.14% | 1.37% | 1.37% | 0.93% | 1.01% | 1.17% | 1.72% | 1.46% | 1.56% | 1.05% | 0.63% |
| Portfolio components: | ||||||||||||
ENX.PA Euronext N.V. | 1.81% | 2.29% | 2.82% | 2.79% | 1.61% | 1.76% | 2.12% | 3.44% | 2.74% | 3.16% | 1.78% | 0.00% |
LSEG.L London Stock Exchange Group plc | 1.09% | 1.07% | 1.20% | 1.43% | 1.11% | 0.81% | 0.82% | 1.34% | 1.20% | 1.28% | 0.86% | 1.30% |
NDAQ Nasdaq, Inc. | 1.32% | 1.22% | 1.48% | 1.27% | 1.00% | 1.46% | 1.73% | 2.08% | 1.90% | 1.80% | 1.55% | 1.21% |
COIN Coinbase Global, Inc. | 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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Exchanges. 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 Exchanges was 45.68%, occurring on Jun 14, 2022. Recovery took 393 trading sessions.
The current Exchanges drawdown is 10.61%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -45.68% | Nov 9, 2021 | 155 | Jun 14, 2022 | 393 | Dec 19, 2023 | 548 |
| -18.63% | Dec 9, 2024 | 84 | Apr 7, 2025 | — | — | — |
| -12.28% | Dec 29, 2023 | 26 | Feb 5, 2024 | 15 | Feb 26, 2024 | 41 |
| -11.34% | Mar 26, 2024 | 25 | Apr 30, 2024 | 55 | Jul 16, 2024 | 80 |
| -10.12% | Sep 7, 2021 | 20 | Oct 4, 2021 | 10 | Oct 18, 2021 | 30 |
Volatility
Volatility Chart
The current Exchanges volatility is 11.09%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Diversification
Asset Correlations Table
| COIN | NDAQ | ENX.PA | LSEG.L | |
|---|---|---|---|---|
| COIN | 1.00 | 0.37 | 0.19 | 0.20 |
| NDAQ | 0.37 | 1.00 | 0.29 | 0.31 |
| ENX.PA | 0.19 | 0.29 | 1.00 | 0.56 |
| LSEG.L | 0.20 | 0.31 | 0.56 | 1.00 |