PIA 20250911

Asset Allocation

Position	Category/Sector	Target Weight
VOO Vanguard S&P 500 ETF	S&P 500	20%
FSPGX Fidelity Large Cap Growth Index Fund	Large Cap Growth Equities	15%
SPMO Invesco S&P 500 Momentum ETF	Momentum, S&P 500	15%
AVIV Avantis International Large Cap Value ETF	Foreign Large Cap Equities, Large Cap Value Equities, Actively Managed	7.50%
IBHH iShares iBonds 2028 Term High Yield and Income ETF	High Yield Bonds	5%
IBHI iShares iBonds 2029 Term High Yield and Income ETF	High Yield Bonds	5%
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	Short-Term Bond	5%
VTEB Vanguard Tax-Exempt Bond ETF	Municipal Bonds	5%
IAU iShares Gold Trust	Gold, Precious Metals	5%
FDVV Fidelity High Dividend ETF	Large Cap Blend Equities, Dividend	5%
IDV iShares International Select Dividend ETF	Global Equities, Dividend	5%
VIG Vanguard Dividend Appreciation ETF	Dividend	5%
FFRHX Fidelity Floating Rate High Income Fund	Bank Loan	2.50%

Benchmark Against

Benchmark

S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in PIA 20250911, 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%	0.31%	8.56%	8.85%	24.33%	19.37%	11.84%	13.61%
Portfolio PIA 20250911	0.46%	1.10%	9.67%	10.23%	24.50%	—	—	—
Portfolio components:
AVIV Avantis International Large Cap Value ETF	0.59%	2.12%	12.06%	13.52%	32.22%	21.41%	—	—
FDVV Fidelity High Dividend ETF	0.57%	3.73%	9.30%	9.44%	23.92%	19.75%	13.53%	—
FFRHX Fidelity Floating Rate High Income Fund	-0.11%	-0.00%	1.60%	1.98%	5.89%	7.24%	5.35%	4.90%
FSPGX Fidelity Large Cap Growth Index Fund	1.64%	-2.22%	2.98%	3.48%	20.59%	22.79%	14.07%	—
IAU iShares Gold Trust	0.08%	-7.39%	-2.44%	-2.22%	22.32%	29.07%	17.23%	12.31%
IBHH iShares iBonds 2028 Term High Yield and Income ETF	0.04%	0.46%	1.66%	2.29%	6.37%	8.45%	—	—
IBHI iShares iBonds 2029 Term High Yield and Income ETF	0.13%	0.67%	1.47%	2.17%	6.95%	8.77%	—	—
IDV iShares International Select Dividend ETF	0.31%	0.43%	13.60%	15.83%	36.40%	25.11%	12.17%	10.92%
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	-0.04%	0.34%	1.20%	1.54%	4.59%	—	—	—
SPMO Invesco S&P 500 Momentum ETF	1.26%	6.27%	28.15%	28.70%	44.90%	41.53%	23.50%	20.86%

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

Monthly Returns

Based on dividend-adjusted daily data since Jul 31, 2023, PIA 20250911's average daily return is +0.08%, while the average monthly return is +1.59%. At this rate, an investment would double in approximately 3.7 years.

Historically, 75% of months were positive and 25% were negative. The best month was Apr 2026 with a return of +8.2%, while the worst month was Mar 2026 at -4.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.

On a daily basis, PIA 20250911 closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +7.2%, while the worst single day was Apr 4, 2025 at -4.8%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	1.81%	0.91%	-4.71%	8.24%	4.85%	-1.28%							9.67%
2025	2.84%	0.06%	-3.04%	0.88%	5.60%	4.22%	1.69%	2.07%	3.44%	1.59%	0.52%	0.52%	22.09%
2024	1.46%	4.33%	3.02%	-2.84%	4.40%	2.65%	1.20%	2.34%	2.02%	-0.83%	3.82%	-1.49%	21.69%
2023							0.20%	-0.83%	-3.07%	-1.31%	7.60%	4.42%	6.81%

Benchmark Metrics

PIA 20250911 has an annualized alpha of 6.53%, beta of 0.76, and R2 of 0.96 versus S&P 500 Index. Calculated based on daily prices since July 31, 2023.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (87.25%) than losses (56.24%) - typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 6.53% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.

Alpha: 6.53%

Beta: 0.76

R²: 0.96

Upside Capture: 87.25%

Downside Capture: 56.24%

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

Expense Ratio

PIA 20250911 has an expense ratio of 0.17%, which is considered low. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

Top 10 holdings

FFRHX

Fidelity Floating Rate High Income Fund

IDV

iShares International Select Dividend ETF

IBHH

iShares iBonds 2028 Term High Yield and Income ETF

IBHI

iShares iBonds 2029 Term High Yield and Income ETF

FDVV

Fidelity High Dividend ETF

AVIV

Avantis International Large Cap Value ETF

IAU

iShares Gold Trust

JPLD

J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF

SPMO

Invesco S&P 500 Momentum ETF

VIG

Vanguard Dividend Appreciation ETF

Return for Risk

Risk / Return Rank

PIA 20250911 ranks 70 for risk / return — better than 70% of Portfolios on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

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 PIA 20250911 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	2.25	1.86	+0.39
Sortino ratioReturn per unit of downside risk	3.12	2.53	+0.59
Omega ratioGain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratioReturn relative to maximum drawdown	3.12	2.53	+0.59
Martin ratioReturn relative to average drawdown	14.49	11.37	+3.12

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
AVIV Avantis International Large Cap Value ETF	72	2.15	2.96	1.39	2.91	11.35
FDVV Fidelity High Dividend ETF	71	2.24	3.14	1.41	2.44	10.11
FFRHX Fidelity Floating Rate High Income Fund	93	2.45	5.83	1.86	4.87	17.02
FSPGX Fidelity Large Cap Growth Index Fund	20	1.23	1.71	1.22	1.22	4.03
IAU iShares Gold Trust	26	0.89	1.25	1.19	0.99	2.83
IBHH iShares iBonds 2028 Term High Yield and Income ETF	83	2.14	3.24	1.41	4.96	19.84
IBHI iShares iBonds 2029 Term High Yield and Income ETF	68	1.78	2.73	1.33	3.22	14.06
IDV iShares International Select Dividend ETF	87	2.69	3.52	1.49	4.13	15.32
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	93	3.17	5.11	1.66	4.54	21.02
SPMO Invesco S&P 500 Momentum ETF	77	2.24	2.98	1.41	3.44	13.01

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 PIA 20250911 Sharpe ratio is 2.25 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 falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of PIA 20250911 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

PIA 20250911 provided a 2.29% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.29%	2.31%	2.43%	2.62%	2.30%	1.36%	1.47%	1.53%	1.60%	1.21%	1.28%	0.97%
Portfolio components:
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
FFRHX Fidelity Floating Rate High Income Fund	7.10%	7.41%	6.94%	8.24%	3.81%	2.74%	3.84%	5.15%	4.74%	4.05%	4.44%	3.69%
FSPGX Fidelity Large Cap Growth Index Fund	0.33%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%	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%
IBHH iShares iBonds 2028 Term High Yield and Income ETF	6.27%	6.39%	6.93%	6.65%	5.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBHI iShares iBonds 2029 Term High Yield and Income ETF	6.70%	6.79%	6.66%	6.48%	5.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IDV iShares International Select Dividend ETF	4.40%	4.94%	6.46%	6.51%	7.33%	5.78%	5.47%	5.15%	5.93%	4.52%	4.69%	5.08%
JPLD J P Morgan Exchange-Traded Fund Trust - Limited Duration Bond ETF	4.20%	4.24%	4.47%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPMO Invesco S&P 500 Momentum ETF	0.67%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

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 PIA 20250911. 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 PIA 20250911 was 13.29%, occurring on Apr 8, 2025. Recovery took 24 trading sessions.

The current PIA 20250911 drawdown is 1.85%.

Related event	Drawdown	Fall	Recovery	Underwater
2025 selloff2025	-13.29%Apr 2025	1mo 17d	1mo 5d	2mo 22dFeb 2025 - May 2025
2026 pullback2026	-7.58%Mar 2026	1mo 2d	15d	1mo 17dFeb 2026 - Apr 2026
2024 pullback2024	-6.61%Aug 2024	19d	16d	1mo 5dJul 2024 - Aug 2024
2023 pullback2023	-6.19%Oct 2023	2mo 27d	18d	3mo 15dAug 2023 - Nov 2023
2026 pullback2026	-4.22%Jun 2026	7d	—	12d 23hJun 2026 - now

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 8.99, reflecting the diversification based on asset allocation. Your allocation shows noticeable concentration: a few holdings carry significantly more weight than the rest. Rebalancing toward more even weights — or adding less correlated assets — could reduce risk.

Diversification Ratio

	1Y	All Time
Diversification Ratio	1.20	1.18

The portfolio has a diversification ratio of 1.18, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.

PIA 20250911 correlation to the S&P 500 Index

PIA 20250911 has a 0.96 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	0.96
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.97

Benchmark Correlations

Correlation vs. S&P 500 Index. VOO has the highest benchmark correlation at 1.00, while JPLD has the lowest at 0.14.

0.14

0.16

0.23

0.30

0.53

0.55

0.59

0.64

0.85

0.86

0.88

0.94

1.00

Portfolio Correlations

Correlation vs. PIA 20250911. VOO has the highest portfolio correlation at 0.97, while JPLD has the lowest at 0.18.

0.18

0.27

0.27

0.30

0.59

0.62

0.63

0.74

0.83

0.85

0.90

0.91

0.97

Asset Correlations Table

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

	IAU	JPLD	FFRHX	VTEB	IDV	IBHH	IBHI	SPMO	AVIV	FSPGX	VIG	FDVV	VOO
IAU	1.00	0.20	0.00	0.18	0.34	0.20	0.18	0.10	0.39	0.11	0.17	0.20	0.16
JPLD	0.20	1.00	0.00	0.55	0.21	0.40	0.38	0.07	0.19	0.10	0.16	0.15	0.14
FFRHX	0.00	0.00	1.00	0.09	0.15	0.18	0.21	0.25	0.23	0.27	0.29	0.31	0.30
VTEB	0.18	0.55	0.09	1.00	0.26	0.47	0.44	0.15	0.25	0.18	0.24	0.25	0.23
IDV	0.34	0.21	0.15	0.26	1.00	0.48	0.52	0.40	0.89	0.39	0.57	0.65	0.53
IBHH	0.20	0.40	0.18	0.47	0.48	1.00	0.78	0.45	0.53	0.48	0.53	0.54	0.55
IBHI	0.18	0.38	0.21	0.44	0.52	0.78	1.00	0.48	0.57	0.52	0.57	0.58	0.59
SPMO	0.10	0.07	0.25	0.15	0.40	0.45	0.48	1.00	0.53	0.87	0.69	0.70	0.88
AVIV	0.39	0.19	0.23	0.25	0.89	0.53	0.57	0.53	1.00	0.52	0.65	0.72	0.65
FSPGX	0.11	0.10	0.27	0.18	0.39	0.48	0.52	0.87	0.52	1.00	0.68	0.70	0.93
VIG	0.17	0.16	0.29	0.24	0.57	0.53	0.57	0.69	0.65	0.68	1.00	0.89	0.86
FDVV	0.20	0.15	0.31	0.25	0.65	0.54	0.58	0.70	0.72	0.70	0.89	1.00	0.86
VOO	0.16	0.14	0.30	0.23	0.53	0.55	0.59	0.88	0.65	0.93	0.86	0.86	1.00

The correlation results are calculated based on daily price changes starting from Jul 31, 2023

Diversification Analysis

Find what PIA 20250911 is missing

See which holdings overlap, where PIA 20250911 is concentrated, and which low-correlation assets could fill the gaps.

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