Scarcity War Portfolio 2026

Asset Allocation

Position	Category/Sector	Target Weight
BIL SPDR Barclays 1-3 Month T-Bill ETF	Government Bonds	15%
BRK-B Berkshire Hathaway Inc.	Financial Services	5%
COPX Global X Copper Miners ETF	Materials	10%
DEM WisdomTree Emerging Markets Equity Income Fund	Emerging Markets Equities	5%
GDX VanEck Gold Miners ETF	Gold, Precious Metals	5%
GLD SPDR Gold Shares	Gold, Precious Metals	15%
IVLU iShares MSCI Intl Value Factor ETF	Foreign Large Cap Equities	5%
IXC iShares Global Energy ETF	Energy Equities	7.50%
MLPX Global X MLP & Energy Infrastructure ETF	MLPs	7.50%
NLR VanEck Vectors Uranium+Nuclear Energy ETF	Alternative Energy Equities	10%
XAR SPDR S&P Aerospace & Defense ETF	Industrials Equities, Aerospace & Defense	15%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Scarcity War Portfolio 2026, 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 year.

Loading graphics...

The earliest data available for this chart is Jul 15, 2015, corresponding to the inception date of IVLU

Returns By Period

As of Apr 3, 2026, the Scarcity War Portfolio 2026 returned 9.12% Year-To-Date and 14.29% of annualized return in the last 10 years.

	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 Scarcity War Portfolio 2026	-0.46%	-4.46%	9.12%	14.70%	47.65%	26.19%	17.99%	14.29%
Portfolio components:
BRK-B Berkshire Hathaway Inc.	-0.24%	-0.83%	-5.03%	-3.74%	-11.23%	15.44%	13.08%	12.79%
IVLU iShares MSCI Intl Value Factor ETF	-0.55%	-1.38%	5.44%	14.60%	37.86%	22.22%	14.03%	10.70%
GLD SPDR Gold Shares	-1.92%	-8.27%	8.35%	21.03%	49.02%	32.51%	21.53%	13.97%
GDX VanEck Gold Miners ETF	-1.48%	-10.12%	10.28%	23.58%	108.21%	43.61%	24.72%	18.24%
MLPX Global X MLP & Energy Infrastructure ETF	0.77%	0.69%	22.30%	20.73%	18.25%	28.16%	24.37%	14.56%
XAR SPDR S&P Aerospace & Defense ETF	-0.14%	-8.67%	7.65%	9.12%	58.39%	30.77%	16.06%	18.38%
COPX Global X Copper Miners ETF	-1.65%	-11.68%	7.06%	29.42%	102.29%	27.96%	18.88%	21.18%
NLR VanEck Vectors Uranium+Nuclear Energy ETF	-0.51%	-6.96%	7.62%	-3.45%	83.53%	37.36%	23.42%	13.89%
BIL SPDR Barclays 1-3 Month T-Bill ETF	0.02%	0.31%	0.90%	1.85%	4.01%	4.71%	3.28%	2.13%
DEM WisdomTree Emerging Markets Equity Income Fund	-0.06%	-0.27%	6.37%	9.56%	22.40%	14.98%	8.56%	9.21%

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

Monthly Returns

Based on dividend-adjusted daily data since Jul 16, 2015, Scarcity War Portfolio 2026's average daily return is +0.05%, while the average monthly return is +1.06%. At this rate, your investment would double in approximately 5.5 years.

Historically, 61% of months were positive and 39% were negative. The best month was Jan 2026 with a return of +10.1%, while the worst month was Mar 2020 at -14.8%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, Scarcity War Portfolio 2026 closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +7.4%, while the worst single day was Mar 12, 2020 at -8.0%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	10.11%	6.58%	-7.28%	0.29%									9.12%
2025	4.56%	-0.44%	2.39%	1.38%	5.30%	5.07%	0.20%	5.23%	8.70%	2.60%	0.18%	3.13%	45.25%
2024	-0.87%	1.36%	6.38%	0.78%	4.35%	-2.26%	3.10%	1.38%	2.86%	0.40%	3.34%	-5.45%	15.87%
2023	6.27%	-3.87%	2.17%	1.42%	-4.15%	4.81%	3.96%	-1.52%	-1.66%	-0.22%	5.30%	2.67%	15.50%
2022	1.00%	5.43%	3.94%	-5.18%	0.64%	-8.98%	3.36%	-1.73%	-6.27%	6.25%	7.69%	-1.04%	3.64%
2021	-1.05%	4.31%	3.06%	3.41%	4.22%	-2.47%	-1.22%	-0.62%	-1.28%	3.56%	-3.78%	3.51%	11.76%

Benchmark Metrics

Scarcity War Portfolio 2026 has an annualized alpha of 5.55%, beta of 0.61, and R² of 0.56 versus S&P 500 Index. Calculated based on daily prices since July 16, 2015.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (74.38%) than losses (61.16%) — typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 5.55% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
Beta of 0.61 indicates this portfolio moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

Alpha: 5.55%

Beta: 0.61

R²: 0.56

Upside Capture: 74.38%

Downside Capture: 61.16%

Expense Ratio

Scarcity War Portfolio 2026 has an expense ratio of 0.40%, 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.

COPX

Global X Copper Miners ETF

DEM

WisdomTree Emerging Markets Equity Income Fund

NLR

VanEck Vectors Uranium+Nuclear Energy ETF

GDX

VanEck Gold Miners ETF

IXC

iShares Global Energy ETF

MLPX

Global X MLP & Energy Infrastructure ETF

GLD

SPDR Gold Shares

XAR

SPDR S&P Aerospace & Defense ETF

IVLU

iShares MSCI Intl Value Factor ETF

BIL

SPDR Barclays 1-3 Month T-Bill ETF

Return for Risk

Risk / Return Rank

Scarcity War Portfolio 2026 ranks 94 for risk / return — in the top 94% 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	2.56	0.88	+1.68
Sortino ratio Return per unit of downside risk	3.21	1.37	+1.84
Omega ratio Gain probability vs. loss probability	1.48	1.21	+0.27
Calmar ratio Return relative to maximum drawdown	4.51	1.39	+3.12
Martin ratio Return relative to average drawdown	15.89	6.43	+9.45
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
BRK-B Berkshire Hathaway Inc.	15	-0.62	-0.73	0.90	-0.70	-1.19
IVLU iShares MSCI Intl Value Factor ETF	90	2.11	2.80	1.42	3.19	12.14
GLD SPDR Gold Shares	80	1.77	2.19	1.32	2.57	9.28
GDX VanEck Gold Miners ETF	90	2.35	2.55	1.37	3.50	12.47
MLPX Global X MLP & Energy Infrastructure ETF	44	0.97	1.29	1.20	1.29	4.00
XAR SPDR S&P Aerospace & Defense ETF	89	2.07	2.75	1.35	3.54	12.22
COPX Global X Copper Miners ETF	91	2.44	2.77	1.38	3.63	13.75
NLR VanEck Vectors Uranium+Nuclear Energy ETF	82	1.99	2.57	1.32	3.30	7.88
BIL SPDR Barclays 1-3 Month T-Bill ETF	100	19.57	254.91	180.89	367.86	4,130.10
DEM WisdomTree Emerging Markets Equity Income Fund	74	1.50	2.07	1.30	1.98	8.83

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.

Scarcity War Portfolio 2026 Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 2.56
5-Year: 1.22
10-Year: 0.98
All Time: 0.85

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 0.98 to 1.66, 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 Scarcity War Portfolio 2026 compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading graphics...

Dividends

Dividend yield

Scarcity War Portfolio 2026 provided a 2.06% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.06%	2.31%	2.32%	2.75%	2.24%	1.77%	1.82%	2.18%	2.16%	1.78%	1.54%	1.79%
Portfolio components:
BRK-B Berkshire Hathaway 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%
IVLU iShares MSCI Intl Value Factor ETF	3.52%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GDX VanEck Gold Miners ETF	0.67%	0.74%	1.19%	1.61%	1.66%	1.67%	0.53%	0.67%	0.50%	0.76%	0.26%	0.85%
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%
XAR SPDR S&P Aerospace & Defense ETF	0.34%	0.40%	0.66%	0.54%	0.50%	0.83%	0.63%	0.75%	1.19%	0.76%	1.09%	2.31%
COPX Global X Copper Miners ETF	2.50%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
NLR VanEck Vectors Uranium+Nuclear Energy ETF	2.37%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%
BIL SPDR Barclays 1-3 Month T-Bill ETF	3.96%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%
DEM WisdomTree Emerging Markets Equity Income Fund	4.24%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%

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.

Loading graphics...

Worst Drawdowns

The table below displays the maximum drawdowns of the Scarcity War Portfolio 2026. 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 Scarcity War Portfolio 2026 was 30.24%, occurring on Mar 18, 2020. Recovery took 174 trading sessions.

The current Scarcity War Portfolio 2026 drawdown is 7.64%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-30.24%	Jan 21, 2020	41	Mar 18, 2020	174	Nov 23, 2020	215
-20.09%	Jul 17, 2015	129	Jan 20, 2016	70	Apr 29, 2016	199
-19.73%	Apr 14, 2022	113	Sep 26, 2022	199	Jul 13, 2023	312
-13.85%	Jan 29, 2018	229	Dec 24, 2018	124	Jun 24, 2019	353
-10.98%	Mar 26, 2025	10	Apr 8, 2025	13	Apr 28, 2025	23

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading graphics...

Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 11 assets, with an effective number of assets of 9.20, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

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	BIL	GLD	GDX	BRK-B	NLR	MLPX	XAR	IXC	COPX	IVLU	DEM	Portfolio
Benchmark	1.00	0.01	0.02	0.18	0.65	0.54	0.51	0.70	0.51	0.54	0.67	0.65	0.68
BIL	0.01	1.00	0.04	0.03	-0.01	-0.01	0.01	0.01	0.02	0.02	-0.01	0.01	0.03
GLD	0.02	0.04	1.00	0.78	-0.05	0.20	0.10	0.06	0.10	0.30	0.15	0.21	0.44
GDX	0.18	0.03	0.78	1.00	0.04	0.30	0.22	0.18	0.21	0.44	0.25	0.33	0.58
BRK-B	0.65	-0.01	-0.05	0.04	1.00	0.35	0.45	0.53	0.48	0.39	0.54	0.46	0.52
NLR	0.54	-0.01	0.20	0.30	0.35	1.00	0.41	0.51	0.38	0.43	0.50	0.48	0.66
MLPX	0.51	0.01	0.10	0.22	0.45	0.41	1.00	0.50	0.79	0.49	0.50	0.50	0.69
XAR	0.70	0.01	0.06	0.18	0.53	0.51	0.50	1.00	0.49	0.47	0.56	0.51	0.70
IXC	0.51	0.02	0.10	0.21	0.48	0.38	0.79	0.49	1.00	0.57	0.57	0.58	0.71
COPX	0.54	0.02	0.30	0.44	0.39	0.43	0.49	0.47	0.57	1.00	0.64	0.71	0.82
IVLU	0.67	-0.01	0.15	0.25	0.54	0.50	0.50	0.56	0.57	0.64	1.00	0.71	0.72
DEM	0.65	0.01	0.21	0.33	0.46	0.48	0.50	0.51	0.58	0.71	0.71	1.00	0.75
Portfolio	0.68	0.03	0.44	0.58	0.52	0.66	0.69	0.70	0.71	0.82	0.72	0.75	1.00

The correlation results are calculated based on daily price changes starting from Jul 16, 2015

Scarcity War Portfolio 2026

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