Asset Allocation
Find the right asset allocation for Betterment FLEX
Add portfolio to the optimizer to find optimal allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
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Performance Chart
The chart shows the growth of an initial investment of $10,000 in Betterment FLEX, 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
As of Jul 22, 2026, the Betterment FLEX returned 17.56% Year-To-Date and 11.12% of annualized return in the last 10 years.
| Position | 1D | 1M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | ALL TIME* |
|---|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.89% | 0.11% | 10.48% | 9.70% | 19.09% | 18.29% | 11.45% | 13.19% | 8.09% |
Portfolio Betterment FLEX | 0.77% | 1.97% | 12.67% | 17.56% | 26.70% | 14.73% | 9.83% | 11.12% | 12.46% |
| Portfolio components: | |||||||||
IJJ iShares S&P Mid-Cap 400 Value ETF | 0.59% | 1.83% | 8.82% | 12.83% | 18.95% | 12.12% | 9.48% | 10.35% | 10.38% |
IWN iShares Russell 2000 Value ETF | 0.93% | 2.79% | 16.35% | 23.80% | 38.80% | 16.86% | 9.33% | 10.21% | 9.54% |
SCHA Schwab U.S. Small-Cap ETF | 2.21% | -1.34% | 15.12% | 22.07% | 34.95% | 16.78% | 8.24% | 10.91% | 12.59% |
SCHD Schwab U.S. Dividend Equity ETF | 0.21% | 3.83% | 16.24% | 21.62% | 26.25% | 13.62% | 9.37% | 12.35% | 13.27% |
SPYV SPDR Portfolio S&P 500 Value ETF | 0.36% | 1.88% | 8.74% | 9.57% | 18.91% | 13.89% | 11.66% | 11.67% | 7.85% |
VBR Vanguard Small-Cap Value ETF | 0.51% | 2.56% | 10.95% | 16.11% | 24.43% | 14.74% | 10.03% | 10.56% | 9.65% |
Monthly Returns
Based on dividend-adjusted daily data since Oct 20, 2011, Betterment FLEX's average daily return is +0.05%, while the average monthly return is +1.09%. At this rate, an investment would double in approximately 5.3 years.
Historically, 66% of months were positive and 34% were negative. The best month was Nov 2020 with a return of +16.3%, while the worst month was Mar 2020 at -21.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, Betterment FLEX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.6%, while the worst single day was Mar 16, 2020 at -12.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.40% | 2.96% | -4.30% | 7.61% | 1.92% | 2.98% | 0.23% | 17.56% | |||||
| 2025 | 2.98% | -2.29% | -4.47% | -4.29% | 4.08% | 3.95% | 1.16% | 5.49% | 0.83% | -0.51% | 2.59% | 0.29% | 9.64% |
| 2024 | -2.33% | 3.11% | 4.78% | -5.63% | 3.90% | -1.42% | 8.05% | 0.47% | 1.02% | -0.71% | 8.14% | -7.37% | 11.24% |
| 2023 | 8.46% | -2.58% | -3.94% | -0.90% | -2.85% | 8.12% | 5.02% | -3.42% | -5.10% | -4.86% | 8.80% | 9.41% | 15.19% |
| 2022 | -4.59% | 0.45% | 2.11% | -6.49% | 1.91% | -9.17% | 8.27% | -2.74% | -9.30% | 11.59% | 5.28% | -5.14% | -9.84% |
| 2021 | 1.62% | 7.87% | 5.77% | 3.33% | 2.18% | -1.01% | -1.08% | 2.18% | -3.07% | 4.38% | -3.07% | 5.38% | 26.59% |
Benchmark Metrics
Betterment FLEX has an annualized alpha of -0.23%, beta of 0.99, and R2 of 0.81 versus S&P 500 Index. Calculated based on daily prices since October 20, 2011.
- With beta of 0.99 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
- -0.23%
- Beta
- 0.99
- R²
- 0.81
- Upside Capture
- 100.55%
- Downside Capture
- 104.48%
Expense Ratio
Betterment FLEX 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.
Return for Risk
Risk / Return Rank
Betterment FLEX ranks 76 for risk / return — better than 76% 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.
Return / Risk — by metrics
The table below presents risk-adjusted performance metrics for Betterment FLEX 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 | 1.97 | 1.52 | +0.45 |
| Sortino ratioReturn per unit of downside risk | 2.90 | 2.11 | +0.79 |
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 2.11 | +1.40 |
| Martin ratioReturn relative to average drawdown | 12.79 | 9.09 | +3.69 |
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 |
|---|---|---|---|---|---|---|
IJJ iShares S&P Mid-Cap 400 Value ETF | 48 | 1.25 | 1.93 | 1.22 | 1.80 | 6.21 |
IWN iShares Russell 2000 Value ETF | 89 | 2.23 | 3.17 | 1.38 | 4.61 | 15.62 |
SCHA Schwab U.S. Small-Cap ETF | 80 | 1.84 | 2.64 | 1.31 | 3.69 | 12.60 |
SCHD Schwab U.S. Dividend Equity ETF | 92 | 2.39 | 3.71 | 1.43 | 5.72 | 13.96 |
SPYV SPDR Portfolio S&P 500 Value ETF | 80 | 1.92 | 2.70 | 1.35 | 3.05 | 11.60 |
VBR Vanguard Small-Cap Value ETF | 71 | 1.64 | 2.45 | 1.29 | 2.77 | 9.83 |
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Dividends
Dividend yield
Betterment FLEX provided a 1.78% dividend yield over the last twelve months.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.78% | 2.03% | 2.14% | 2.06% | 2.17% | 1.81% | 1.92% | 2.03% | 2.31% | 1.93% | 1.96% | 2.13% |
| Portfolio components: | ||||||||||||
IJJ iShares S&P Mid-Cap 400 Value ETF | 1.59% | 1.79% | 1.81% | 1.68% | 1.97% | 1.62% | 1.78% | 1.70% | 2.01% | 1.52% | 1.67% | 1.83% |
IWN iShares Russell 2000 Value ETF | 1.43% | 1.70% | 1.80% | 2.04% | 2.12% | 1.48% | 1.60% | 1.92% | 1.99% | 1.78% | 1.74% | 2.15% |
SCHA Schwab U.S. Small-Cap ETF | 1.03% | 1.26% | 1.51% | 1.42% | 1.37% | 1.19% | 1.05% | 1.39% | 1.58% | 1.24% | 1.50% | 1.48% |
SCHD Schwab U.S. Dividend Equity ETF | 3.19% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
SPYV SPDR Portfolio S&P 500 Value ETF | 1.69% | 1.77% | 2.29% | 1.75% | 2.22% | 2.10% | 2.38% | 2.25% | 2.97% | 2.77% | 2.39% | 2.53% |
VBR Vanguard Small-Cap Value ETF | 1.77% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
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 Betterment FLEX. 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 Betterment FLEX was 41.78%, occurring on Mar 23, 2020. Recovery took 166 trading sessions.
The current Betterment FLEX drawdown is 0.59%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-41.78%Mar 2020 | 2mo 6d | 7mo 28d | 10mo 4dJan 2020 - Nov 2020 | COVID crash2020 |
-22.52%Apr 2025 | 4mo 13d | 6mo 19d | 11mo 2dNov 2024 - Oct 2025 | 2025 selloff2025 |
-21.96%Dec 2018 | 3mo 4d | 10mo 15d | 1y 1moSep 2018 - Nov 2019 | Rate-hike selloffLate 2018 |
-20.78%Sep 2022 | 10mo 25d | 1y 2mo | 2y 1moNov 2021 - Dec 2023 | Bear market2022 |
-18.68%Feb 2016 | 7mo 22d | 5mo 1d | 1y 18dJun 2015 - Jul 2016 | — |
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 6 assets, with an effective number of assets of 5.88, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.
Diversification Ratio
1Y | 3Y | 5Y | 10Y | All Time | |
|---|---|---|---|---|---|
Diversification Ratio | 1.08 | 1.04 | 1.04 | 1.03 | 1.03 |
The portfolio has a diversification ratio of 1.03, placing it in the bottom quartile across portfolios — positions are highly correlated. Consider adding assets from different classes or sectors to reduce risk.
Betterment FLEX correlation to the S&P 500 Index
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.86 |
Benchmark Correlations
Correlation vs. S&P 500 Index. SPYV has the highest benchmark correlation at 0.88, while IWN has the lowest at 0.78.
Asset Correlations Table
Find what Betterment FLEX is missing
See which holdings overlap, where Betterment FLEX is concentrated, and which low-correlation assets could fill the gaps.
Analyze Diversification