Conviction Style Box ETF Portfolio

Asset Allocation

Position	Category/Sector	Target Weight
FNDX Schwab Fundamental U.S. Large Company Index ETF	Large Cap Blend Equities	15%
IJK iShares S&P MidCap 400 Growth ETF	Mid Cap Growth Equities	10%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	Mid Cap Value Equities	5%
SLYG SPDR S&P 600 Small Cap Growth ETF	Small Cap Growth Equities	5%
VBR Vanguard Small-Cap Value ETF	Small Cap Value Equities	5%
VONG Vanguard Russell 1000 Growth ETF	Large Cap Growth Equities	20%
VOO Vanguard S&P 500 ETF	S&P 500	40%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Conviction Style Box ETF Portfolio, 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 Aug 15, 2013, corresponding to the inception date of FNDX

Returns By Period

As of Apr 3, 2026, the Conviction Style Box ETF Portfolio returned -1.70% Year-To-Date and 13.81% 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 Conviction Style Box ETF Portfolio	0.14%	-3.25%	-1.70%	-0.03%	18.15%	17.54%	10.78%	13.81%
Portfolio components:
FNDX Schwab Fundamental U.S. Large Company Index ETF	0.25%	-2.12%	3.24%	6.77%	19.84%	17.05%	12.09%	13.38%
VOO Vanguard S&P 500 ETF	0.11%	-3.33%	-3.55%	-1.41%	17.60%	18.47%	11.96%	14.19%
VONG Vanguard Russell 1000 Growth ETF	-0.01%	-4.03%	-8.98%	-8.58%	17.79%	21.43%	12.55%	16.78%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	0.12%	-3.57%	1.61%	3.14%	11.71%	11.22%	7.28%	10.14%
IJK iShares S&P MidCap 400 Growth ETF	0.13%	-3.51%	5.26%	6.17%	20.05%	13.36%	5.94%	10.68%
VBR Vanguard Small-Cap Value ETF	0.20%	-3.26%	3.80%	5.19%	17.55%	13.63%	7.68%	10.27%
SLYG SPDR S&P 600 Small Cap Growth ETF	0.51%	-2.88%	4.27%	3.90%	16.99%	11.14%	3.47%	10.16%

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

Monthly Returns

Based on dividend-adjusted daily data since Aug 16, 2013, Conviction Style Box ETF Portfolio's average daily return is +0.06%, while the average monthly return is +1.11%. At this rate, your investment would double in approximately 5.2 years.

Historically, 70% of months were positive and 30% were negative. The best month was Apr 2020 with a return of +13.3%, while the worst month was Mar 2020 at -14.5%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Conviction Style Box ETF Portfolio closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +9.7%, while the worst single day was Mar 16, 2020 at -11.9%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	2.05%	0.38%	-4.87%	0.88%									-1.70%
2025	3.02%	-2.42%	-5.87%	-1.08%	6.31%	4.90%	2.17%	2.67%	2.98%	1.68%	0.61%	-0.08%	15.25%
2024	0.77%	5.46%	3.65%	-4.56%	4.94%	2.48%	2.43%	1.48%	1.96%	-0.99%	6.96%	-3.52%	22.41%
2023	7.20%	-2.10%	2.08%	0.73%	0.10%	7.16%	3.70%	-1.92%	-4.86%	-2.80%	9.13%	5.88%	25.79%
2022	-6.00%	-2.00%	3.02%	-8.65%	0.23%	-8.73%	9.96%	-3.86%	-9.32%	8.75%	5.38%	-6.04%	-18.12%
2021	0.52%	3.30%	4.24%	4.98%	0.47%	2.07%	1.64%	2.77%	-4.43%	6.76%	-1.19%	4.27%	27.94%

Benchmark Metrics

Conviction Style Box ETF Portfolio has an annualized alpha of 1.29%, beta of 1.02, and R² of 0.98 versus S&P 500 Index. Calculated based on daily prices since August 16, 2013.

This portfolio captured 106.41% of S&P 500 Index gains but only 99.66% of its losses — a favorable profile for investors.
With beta of 1.02 and R² of 0.98, 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: 1.29%

Beta: 1.02

R²: 0.98

Upside Capture: 106.41%

Downside Capture: 99.66%

Expense Ratio

Conviction Style Box ETF Portfolio has an expense ratio of 0.10%, 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.

FNDX

Schwab Fundamental U.S. Large Company Index ETF

IJK

iShares S&P MidCap 400 Growth ETF

SLYG

SPDR S&P 600 Small Cap Growth ETF

IVOV

Vanguard S&P Mid-Cap 400 Value ETF

VBR

Vanguard Small-Cap Value ETF

VONG

Vanguard Russell 1000 Growth ETF

VOO

Vanguard S&P 500 ETF

Return for Risk

Risk / Return Rank

Conviction Style Box ETF Portfolio ranks 31 for risk / return — below 31% of portfolios on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

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	0.97	0.88	+0.09
Sortino ratio Return per unit of downside risk	1.49	1.37	+0.12
Omega ratio Gain probability vs. loss probability	1.22	1.21	+0.01
Calmar ratio Return relative to maximum drawdown	1.52	1.39	+0.13
Martin ratio Return relative to average drawdown	7.24	6.43	+0.81
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
FNDX Schwab Fundamental U.S. Large Company Index ETF	65	1.23	1.79	1.28	1.68	7.99
VOO Vanguard S&P 500 ETF	54	0.98	1.49	1.23	1.53	7.13
VONG Vanguard Russell 1000 Growth ETF	39	0.80	1.30	1.18	1.15	3.86
IVOV Vanguard S&P Mid-Cap 400 Value ETF	29	0.57	0.95	1.13	0.90	3.38
IJK iShares S&P MidCap 400 Growth ETF	51	0.90	1.41	1.19	1.62	6.92
VBR Vanguard Small-Cap Value ETF	44	0.86	1.33	1.18	1.37	5.57
SLYG SPDR S&P 600 Small Cap Growth ETF	41	0.77	1.24	1.16	1.34	5.51

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.

Conviction Style Box ETF Portfolio Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 0.97
5-Year: 0.62
10-Year: 0.75
All Time: 0.74

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 places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

The chart below shows the rolling Sharpe ratio of Conviction Style Box ETF Portfolio 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

Conviction Style Box ETF Portfolio provided a 1.10% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.10%	1.08%	1.20%	1.35%	1.55%	1.12%	1.42%	1.65%	1.80%	1.73%	1.74%	2.02%
Portfolio components:
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.61%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
VOO Vanguard S&P 500 ETF	1.18%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%
VONG Vanguard Russell 1000 Growth ETF	0.50%	0.45%	0.55%	0.71%	0.98%	0.58%	0.77%	1.03%	1.18%	1.19%	1.48%	1.47%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	1.79%	1.82%	1.74%	1.52%	1.97%	1.78%	2.42%	1.75%	1.87%	1.55%	1.51%	1.66%
IJK iShares S&P MidCap 400 Growth ETF	0.61%	0.66%	0.79%	1.13%	1.08%	0.50%	0.70%	1.09%	1.13%	0.93%	1.15%	1.12%
VBR Vanguard Small-Cap Value ETF	1.89%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%
SLYG SPDR S&P 600 Small Cap Growth ETF	0.79%	0.86%	1.22%	1.18%	1.18%	0.68%	0.71%	1.08%	1.06%	4.74%	1.13%	5.75%

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 Conviction Style Box ETF Portfolio. 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 Conviction Style Box ETF Portfolio was 35.84%, occurring on Mar 23, 2020. Recovery took 99 trading sessions.

The current Conviction Style Box ETF Portfolio drawdown is 4.99%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-35.84%	Feb 20, 2020	23	Mar 23, 2020	99	Aug 12, 2020	122
-24.47%	Jan 5, 2022	186	Sep 30, 2022	302	Dec 13, 2023	488
-20.95%	Sep 21, 2018	65	Dec 24, 2018	89	May 3, 2019	154
-19.82%	Dec 5, 2024	84	Apr 8, 2025	57	Jul 1, 2025	141
-14.52%	Jun 24, 2015	161	Feb 11, 2016	77	Jun 2, 2016	238

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 7 assets, with an effective number of assets of 4.17, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.

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	VONG	IVOV	SLYG	VBR	FNDX	IJK	VOO	Portfolio
Benchmark	1.00	0.94	0.80	0.81	0.81	0.91	0.87	1.00	0.98
VONG	0.94	1.00	0.66	0.73	0.68	0.77	0.80	0.94	0.92
IVOV	0.80	0.66	1.00	0.90	0.98	0.90	0.90	0.80	0.87
SLYG	0.81	0.73	0.90	1.00	0.93	0.85	0.93	0.81	0.89
VBR	0.81	0.68	0.98	0.93	1.00	0.91	0.92	0.81	0.89
FNDX	0.91	0.77	0.90	0.85	0.91	1.00	0.87	0.91	0.94
IJK	0.87	0.80	0.90	0.93	0.92	0.87	1.00	0.87	0.93
VOO	1.00	0.94	0.80	0.81	0.81	0.91	0.87	1.00	0.98
Portfolio	0.98	0.92	0.87	0.89	0.89	0.94	0.93	0.98	1.00

The correlation results are calculated based on daily price changes starting from Aug 16, 2013

Conviction Style Box ETF Portfolio

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