Default

Asset Allocation

Position	Category/Sector	Target Weight
ASML ASML Holding N.V.	Technology	7.69%
ETN Eaton Corporation plc	Industrials	7.69%
FCX Freeport-McMoRan Inc.	Basic Materials	7.69%
LHX L3Harris Technologies, Inc.	Industrials	7.69%
LMT Lockheed Martin Corporation	Industrials	7.69%
MS Morgan Stanley	Financial Services	7.69%
NEM Newmont Goldcorp Corporation	Basic Materials	7.69%
NOC Northrop Grumman Corporation	Industrials	7.69%
NVDA NVIDIA Corporation	Technology	7.69%
PSX Phillips 66	Energy	7.69%
TFC Truist Financial Corporation	Financial Services	7.69%
TXN Texas Instruments Incorporated	Technology	7.69%
V Visa Inc.	Financial Services	7.69%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Default, 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 1, 2012, corresponding to the inception date of PSX

Returns By Period

As of Apr 9, 2026, the Default returned 17.22% Year-To-Date and 25.79% of annualized return in the last 10 years.

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	2.51%	-0.19%	-0.92%	0.43%	36.13%	18.22%	10.44%	12.72%
Portfolio Default	3.01%	2.43%	17.22%	19.80%	78.25%	30.74%	21.95%	25.79%
Portfolio components:
ETN Eaton Corporation plc	4.54%	9.30%	21.43%	2.95%	55.19%	37.00%	24.41%	23.38%
ASML ASML Holding N.V.	8.77%	4.69%	33.00%	44.31%	141.36%	30.65%	18.72%	31.66%
V Visa Inc.	2.12%	-2.22%	-11.72%	-11.71%	0.97%	11.83%	7.57%	15.56%
TFC Truist Financial Corporation	3.05%	5.43%	1.17%	14.10%	47.95%	20.99%	0.79%	8.54%
TXN Texas Instruments Incorporated	4.59%	6.47%	21.20%	16.82%	47.59%	8.68%	4.27%	16.86%
PSX Phillips 66	-3.84%	3.07%	31.26%	30.10%	87.54%	22.04%	20.84%	11.03%
NVDA NVIDIA Corporation	2.23%	-0.31%	-2.36%	-3.71%	89.12%	88.90%	66.19%	70.58%
NOC Northrop Grumman Corporation	-0.44%	-8.01%	20.95%	8.55%	41.98%	15.38%	17.00%	14.94%
NEM Newmont Goldcorp Corporation	3.05%	1.02%	18.57%	34.31%	166.21%	34.69%	17.42%	17.88%
MS Morgan Stanley	4.51%	9.70%	-0.30%	14.40%	80.19%	32.15%	20.67%	25.68%

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

Monthly Returns

Based on dividend-adjusted daily data since May 2, 2012, Default's average daily return is +0.09%, while the average monthly return is +1.91%. At this rate, your investment would double in approximately 3.1 years.

Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +17.4%, while the worst month was Mar 2020 at -13.0%. The longest winning streak lasted 24 consecutive months, and the longest losing streak was 5 months.

On a daily basis, Default closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +13.0%, while the worst single day was Mar 16, 2020 at -12.3%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	14.05%	3.29%	-5.36%	5.13%									17.22%
2025	2.73%	0.03%	-2.82%	-0.99%	8.21%	7.72%	1.18%	5.49%	5.06%	0.16%	-0.58%	4.19%	34.09%
2024	0.81%	4.55%	8.67%	-0.74%	5.51%	0.18%	4.24%	2.55%	0.50%	-2.29%	4.04%	-7.52%	21.39%
2023	8.72%	-0.68%	1.08%	-2.46%	-0.51%	6.75%	3.92%	-2.15%	-5.08%	-1.46%	9.32%	7.49%	26.36%
2022	-1.47%	4.61%	2.92%	-9.33%	2.87%	-10.28%	6.87%	-5.83%	-7.94%	13.41%	9.95%	-5.54%	-3.11%
2021	-2.27%	9.57%	4.87%	5.32%	6.08%	-0.35%	1.08%	2.09%	-5.11%	5.64%	-0.43%	3.98%	33.90%

Benchmark Metrics

Default has an annualized alpha of 10.19%, beta of 1.07, and R² of 0.81 versus S&P 500 Index. Calculated based on daily prices since May 02, 2012.

This portfolio captured 140.18% of S&P 500 Index gains but only 88.25% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 10.19% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
With beta of 1.07 and R² of 0.81, this portfolio moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.

Alpha: 10.19%

Beta: 1.07

R²: 0.81

Upside Capture: 140.18%

Downside Capture: 88.25%

Expense Ratio

Default 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.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

Default ranks 96 for risk / return — in the top 96% 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

	Portfolio	Benchmark	Difference
Sharpe ratio Return per unit of total volatility	4.04	2.19	+1.85
Sortino ratio Return per unit of downside risk	5.79	3.49	+2.30
Omega ratio Gain probability vs. loss probability	1.80	1.48	+0.32
Calmar ratio Return relative to maximum drawdown	8.15	3.70	+4.44
Martin ratio Return relative to average drawdown	33.15	16.45	+16.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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
ETN Eaton Corporation plc	77	1.68	2.36	1.30	3.05	6.86
ASML ASML Holding N.V.	94	3.41	3.91	1.50	7.69	21.10
V Visa Inc.	32	0.04	0.22	1.03	-0.03	-0.06
TFC Truist Financial Corporation	78	1.88	2.54	1.34	2.35	7.33
TXN Texas Instruments Incorporated	66	1.22	1.93	1.27	1.43	2.98
PSX Phillips 66	91	2.69	3.47	1.46	6.40	15.42
NVDA NVIDIA Corporation	86	2.26	3.06	1.38	4.61	11.51
NOC Northrop Grumman Corporation	74	1.49	2.02	1.31	2.82	5.99
NEM Newmont Goldcorp Corporation	93	3.69	3.51	1.51	6.27	20.52
MS Morgan Stanley	91	2.88	3.63	1.50	4.30	14.21

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.

Default Sharpe ratios as of Apr 9, 2026 (values are recalculated daily):

1-Year: 4.04
5-Year: 1.14
10-Year: 1.22
All Time: 1.18

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 2.14 to 2.98, 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 Default 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

Default provided a 1.63% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.63%	1.88%	2.15%	2.30%	2.32%	2.00%	1.89%	2.04%	2.20%	1.49%	1.64%	2.48%
Portfolio components:
ETN Eaton Corporation plc	1.09%	1.31%	1.13%	1.43%	2.06%	1.76%	1.88%	3.00%	3.85%	3.04%	3.40%	4.23%
ASML ASML Holding N.V.	0.66%	0.97%	0.97%	0.86%	1.27%	0.50%	0.50%	1.40%	0.94%	0.64%	0.92%	0.73%
V Visa Inc.	0.82%	0.70%	0.68%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%
TFC Truist Financial Corporation	4.22%	4.23%	4.79%	5.63%	4.65%	3.18%	3.76%	3.04%	3.60%	2.53%	2.45%	2.78%
TXN Texas Instruments Incorporated	2.66%	3.17%	2.81%	2.94%	2.84%	2.23%	2.27%	2.50%	2.78%	2.03%	2.25%	2.55%
PSX Phillips 66	2.90%	3.68%	3.95%	3.15%	3.68%	5.00%	5.15%	3.14%	3.60%	2.70%	2.84%	2.67%
NVDA NVIDIA Corporation	0.02%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%
NOC Northrop Grumman Corporation	1.34%	1.58%	1.72%	1.57%	1.24%	1.59%	1.86%	1.50%	1.92%	1.27%	1.50%	1.64%
NEM Newmont Goldcorp Corporation	0.85%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%
MS Morgan Stanley	2.23%	2.17%	2.82%	3.49%	3.47%	2.14%	2.04%	2.54%	2.77%	1.72%	1.66%	1.73%

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 Default. 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 Default was 36.46%, occurring on Mar 23, 2020. Recovery took 52 trading sessions.

The current Default drawdown is 1.86%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-36.46%	Feb 20, 2020	23	Mar 23, 2020	52	Jun 5, 2020	75
-25.91%	Jun 7, 2018	139	Dec 24, 2018	141	Jul 18, 2019	280
-24.17%	Mar 28, 2022	140	Oct 14, 2022	165	Jun 13, 2023	305
-20.11%	Oct 15, 2024	120	Apr 8, 2025	42	Jun 9, 2025	162
-17.95%	May 15, 2015	71	Aug 25, 2015	140	Mar 16, 2016	211

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 13 assets, with an effective number of assets of 13.00, 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	NEM	NOC	LMT	PSX	NVDA	LHX	FCX	ASML	V	TFC	TXN	MS	ETN	Portfolio
Benchmark	1.00	0.18	0.39	0.41	0.45	0.61	0.46	0.52	0.65	0.67	0.60	0.69	0.67	0.68	0.85
NEM	0.18	1.00	0.10	0.10	0.13	0.10	0.14	0.38	0.14	0.08	0.05	0.15	0.08	0.13	0.34
NOC	0.39	0.10	1.00	0.75	0.28	0.13	0.61	0.20	0.15	0.33	0.27	0.24	0.29	0.32	0.47
LMT	0.41	0.10	0.75	1.00	0.28	0.15	0.59	0.20	0.20	0.34	0.29	0.26	0.30	0.34	0.49
PSX	0.45	0.13	0.28	0.28	1.00	0.21	0.32	0.39	0.26	0.32	0.43	0.33	0.42	0.40	0.56
NVDA	0.61	0.10	0.13	0.15	0.21	1.00	0.22	0.33	0.58	0.38	0.27	0.57	0.39	0.42	0.62
LHX	0.46	0.14	0.61	0.59	0.32	0.22	1.00	0.27	0.26	0.35	0.35	0.34	0.36	0.38	0.56
FCX	0.52	0.38	0.20	0.20	0.39	0.33	0.27	1.00	0.38	0.32	0.40	0.41	0.46	0.48	0.69
ASML	0.65	0.14	0.15	0.20	0.26	0.58	0.26	0.38	1.00	0.43	0.33	0.62	0.43	0.47	0.66
V	0.67	0.08	0.33	0.34	0.32	0.38	0.35	0.32	0.43	1.00	0.41	0.48	0.47	0.44	0.59
TFC	0.60	0.05	0.27	0.29	0.43	0.27	0.35	0.40	0.33	0.41	1.00	0.43	0.69	0.49	0.62
TXN	0.69	0.15	0.24	0.26	0.33	0.57	0.34	0.41	0.62	0.48	0.43	1.00	0.48	0.51	0.71
MS	0.67	0.08	0.29	0.30	0.42	0.39	0.36	0.46	0.43	0.47	0.69	0.48	1.00	0.56	0.70
ETN	0.68	0.13	0.32	0.34	0.40	0.42	0.38	0.48	0.47	0.44	0.49	0.51	0.56	1.00	0.72
Portfolio	0.85	0.34	0.47	0.49	0.56	0.62	0.56	0.69	0.66	0.59	0.62	0.71	0.70	0.72	1.00

The correlation results are calculated based on daily price changes starting from May 2, 2012

Default

Asset Allocation

Performance

Performance Chart

Returns By Period

Monthly Returns

Benchmark Metrics

Expense Ratio

Return for Risk

Risk / Return Rank

Return / Risk — by metrics

Sharpe ratio

Sortino ratio

Omega ratio

Calmar ratio

Martin ratio

Sharpe Ratio

Dividends

Dividend yield

Drawdowns

Drawdowns Chart

Worst Drawdowns

Volatility

Volatility Chart

Diversification

Diversification Metrics

Number of Effective Assets

Asset Correlations Table