Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | High Yield Bonds | 41.19% |
BKLN Invesco Senior Loan ETF | High Yield Bonds | 20.25% |
SPHY SPDR Portfolio High Yield Bond ETF | High Yield Bonds | 38.56% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in The Income 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 Jun 19, 2012, corresponding to the inception date of SPHY
Returns By Period
As of Apr 2, 2026, the The Income Portfolio returned -0.47% Year-To-Date and 5.74% of annualized return in the last 10 years.
| 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.72% | -3.54% | -3.95% | -2.09% | 15.95% | 16.96% | 10.34% | 12.24% |
Portfolio The Income Portfolio | 0.40% | -0.45% | -0.47% | 0.62% | 6.44% | 7.87% | 4.09% | 5.74% |
| Portfolio components: | ||||||||
SPHY SPDR Portfolio High Yield Bond ETF | 0.25% | -0.69% | -0.07% | 1.01% | 7.16% | 8.49% | 4.36% | 5.32% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 0.65% | -2.01% | -0.56% | 0.13% | 6.50% | 7.37% | 3.32% | 6.73% |
BKLN Invesco Senior Loan ETF | 0.20% | 1.76% | -1.08% | 0.99% | 5.72% | 7.64% | 5.07% | 4.40% |
Monthly Returns
Based on dividend-adjusted daily data since Jun 20, 2012, The Income Portfolio's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, your investment would double in approximately 12.6 years.
Historically, 68% of months were positive and 32% were negative. The best month was Apr 2020 with a return of +6.0%, while the worst month was Mar 2020 at -11.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.
On a daily basis, The Income Portfolio closed higher 54% of trading days. The best single day was Apr 9, 2020 with a return of +4.8%, while the worst single day was Mar 18, 2020 at -6.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.41% | -0.11% | -1.18% | 0.40% | -0.47% | ||||||||
| 2025 | 1.14% | 0.63% | -0.70% | -0.49% | 1.78% | 1.96% | 0.21% | 1.14% | 1.24% | 0.02% | 0.69% | 0.52% | 8.43% |
| 2024 | 0.50% | 0.01% | 1.28% | -1.23% | 1.45% | 0.14% | 2.05% | 1.42% | 1.35% | -0.77% | 1.69% | -0.60% | 7.46% |
| 2023 | 3.73% | -1.43% | 1.81% | 0.16% | -1.02% | 2.21% | 1.03% | 0.29% | -1.35% | -0.68% | 4.45% | 3.00% | 12.66% |
| 2022 | -2.71% | -1.26% | -1.05% | -3.82% | 0.81% | -6.13% | 5.47% | -2.30% | -3.97% | 2.48% | 3.11% | -1.06% | -10.51% |
| 2021 | 0.00% | 0.32% | 0.24% | 0.95% | 0.31% | 1.61% | 0.44% | 0.70% | -0.14% | 0.16% | -1.39% | 2.15% | 5.45% |
Benchmark Metrics
The Income Portfolio has an annualized alpha of 2.10%, beta of 0.27, and R² of 0.44 versus S&P 500 Index. Calculated based on daily prices since June 20, 2012.
- This portfolio participated in 36.99% of S&P 500 Index downside but only 34.57% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.27 may look defensive, but with R² of 0.44 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
- R² of 0.44 means the benchmark explains less than half of this portfolio's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 2.10%
- Beta
- 0.27
- R²
- 0.44
- Upside Capture
- 34.57%
- Downside Capture
- 36.99%
Expense Ratio
The Income Portfolio has an expense ratio of 0.31%, 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.
Return for Risk
Risk / Return Rank
The Income Portfolio ranks 48 for risk / return — on par with similar portfolios. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 0.92 | +0.30 |
Sortino ratioReturn per unit of downside risk | 1.77 | 1.41 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.41 | +0.15 |
Martin ratioReturn relative to average drawdown | 7.80 | 6.61 | +1.18 |
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 | |
|---|---|---|---|---|---|---|
SPHY SPDR Portfolio High Yield Bond ETF | 75 | 1.31 | 1.94 | 1.31 | 1.81 | 9.48 |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 53 | 1.00 | 1.40 | 1.24 | 1.26 | 5.20 |
BKLN Invesco Senior Loan ETF | 76 | 1.34 | 2.10 | 1.38 | 1.91 | 7.18 |
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Dividends
Dividend yield
The Income Portfolio provided a 6.92% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 6.92% | 6.81% | 7.30% | 6.73% | 5.44% | 4.21% | 4.81% | 5.33% | 4.96% | 4.57% | 4.77% | 4.88% |
| Portfolio components: | ||||||||||||
SPHY SPDR Portfolio High Yield Bond ETF | 7.37% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.42% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
BKLN Invesco Senior Loan ETF | 7.04% | 6.95% | 8.41% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.52% | 3.50% | 4.54% | 4.12% |
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 The Income 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 The Income Portfolio was 24.25%, occurring on Mar 23, 2020. Recovery took 91 trading sessions.
The current The Income Portfolio drawdown is 1.37%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -24.25% | Feb 18, 2020 | 25 | Mar 23, 2020 | 91 | Jul 31, 2020 | 116 |
| -14.66% | Nov 10, 2021 | 221 | Sep 27, 2022 | 306 | Dec 14, 2023 | 527 |
| -9.38% | Apr 27, 2015 | 187 | Jan 21, 2016 | 61 | Apr 19, 2016 | 248 |
| -6.08% | Apr 22, 2013 | 46 | Jun 25, 2013 | 162 | Feb 14, 2014 | 208 |
| -5.84% | Oct 3, 2018 | 57 | Dec 24, 2018 | 29 | Feb 6, 2019 | 86 |
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 3 assets, with an effective number of assets of 2.78, 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
| Benchmark | BKLN | SPHY | ANGL | Portfolio | |
|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.53 | 0.45 | 0.53 | 0.57 |
| BKLN | 0.53 | 1.00 | 0.38 | 0.45 | 0.55 |
| SPHY | 0.45 | 0.38 | 1.00 | 0.50 | 0.83 |
| ANGL | 0.53 | 0.45 | 0.50 | 1.00 | 0.86 |
| Portfolio | 0.57 | 0.55 | 0.83 | 0.86 | 1.00 |