RIce Alpha 1 Midcap Conservative

Asset Allocation

Position	Category/Sector	Target Weight
EELV Invesco S&P Emerging Markets Low Volatility ETF	Volatility Hedged Equity	10%
EFAV iShares Edge MSCI Min Vol EAFE ETF	Foreign Large Cap Equities	30%
IDV iShares International Select Dividend ETF	Global Equities, Dividend	20%
OEF iShares S&P 100 ETF	Large Cap Growth Equities	10%
SPMO Invesco S&P 500 Momentum ETF	S&P 500	20%
XMLV Invesco S&P MidCap Low Volatility ETF	Volatility Hedged Equity	10%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in RIce Alpha 1 Midcap Conservative, 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 Oct 12, 2015, corresponding to the inception date of SPMO

Returns By Period

As of Apr 3, 2026, the RIce Alpha 1 Midcap Conservative returned 3.20% Year-To-Date and 10.75% 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 RIce Alpha 1 Midcap Conservative	0.23%	-1.00%	3.20%	6.55%	24.70%	19.03%	11.55%	10.75%
Portfolio components:
SPMO Invesco S&P 500 Momentum ETF	0.21%	-3.49%	-3.57%	-4.50%	22.96%	28.37%	17.71%	17.43%
EFAV iShares Edge MSCI Min Vol EAFE ETF	0.14%	0.55%	6.71%	9.88%	22.08%	14.12%	7.69%	6.52%
IDV iShares International Select Dividend ETF	0.30%	0.77%	8.93%	19.54%	44.88%	22.73%	12.82%	10.28%
EELV Invesco S&P Emerging Markets Low Volatility ETF	-0.18%	-0.22%	3.57%	7.44%	20.35%	11.19%	8.00%	6.35%
OEF iShares S&P 100 ETF	0.01%	-3.61%	-6.31%	-3.64%	18.53%	20.77%	13.32%	15.09%
XMLV Invesco S&P MidCap Low Volatility ETF	1.01%	-3.70%	3.09%	2.50%	5.49%	9.62%	6.15%	7.99%

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

Monthly Returns

Based on dividend-adjusted daily data since Oct 13, 2015, RIce Alpha 1 Midcap Conservative's average daily return is +0.04%, while the average monthly return is +0.89%. At this rate, your investment would double in approximately 6.5 years.

Historically, 69% of months were positive and 31% were negative. The best month was Nov 2020 with a return of +10.2%, while the worst month was Mar 2020 at -13.2%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.

On a daily basis, RIce Alpha 1 Midcap Conservative closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +7.7%, while the worst single day was Mar 16, 2020 at -11.7%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	3.04%	3.77%	-4.44%	1.00%									3.20%
2025	3.30%	1.90%	0.27%	2.92%	5.24%	3.71%	0.01%	3.13%	1.70%	0.56%	1.45%	1.10%	28.26%
2024	0.47%	3.64%	2.92%	-2.82%	4.72%	0.80%	3.42%	3.57%	1.68%	-2.60%	2.53%	-2.87%	16.14%
2023	4.37%	-3.49%	1.94%	2.57%	-4.09%	3.78%	2.87%	-2.02%	-2.56%	-2.01%	7.22%	5.08%	13.67%
2022	-3.03%	-1.34%	1.81%	-5.81%	1.00%	-7.54%	4.78%	-4.26%	-8.73%	6.42%	8.50%	-1.62%	-10.90%
2021	-0.41%	0.86%	3.20%	3.49%	1.52%	1.23%	1.52%	2.35%	-4.04%	3.96%	-2.64%	4.20%	15.94%

Benchmark Metrics

RIce Alpha 1 Midcap Conservative has an annualized alpha of 1.41%, beta of 0.75, and R² of 0.86 versus S&P 500 Index. Calculated based on daily prices since October 13, 2015.

This portfolio participated in 73.88% of S&P 500 Index downside but only 73.81% of its upside — more exposed to losses than it benefited from rallies.

Alpha: 1.41%

Beta: 0.75

R²: 0.86

Upside Capture: 73.81%

Downside Capture: 73.88%

Expense Ratio

RIce Alpha 1 Midcap Conservative has an expense ratio of 0.26%, 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.

IDV

iShares International Select Dividend ETF

EELV

Invesco S&P Emerging Markets Low Volatility ETF

XMLV

Invesco S&P MidCap Low Volatility ETF

EFAV

iShares Edge MSCI Min Vol EAFE ETF

OEF

iShares S&P 100 ETF

SPMO

Invesco S&P 500 Momentum ETF

Return for Risk

Risk / Return Rank

RIce Alpha 1 Midcap Conservative ranks 84 for risk / return — in the top 84% 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	1.87	0.88	+0.99
Sortino ratio Return per unit of downside risk	2.63	1.37	+1.27
Omega ratio Gain probability vs. loss probability	1.41	1.21	+0.20
Calmar ratio Return relative to maximum drawdown	2.67	1.39	+1.28
Martin ratio Return relative to average drawdown	13.06	6.43	+6.63
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
SPMO Invesco S&P 500 Momentum ETF	58	1.01	1.55	1.23	1.91	6.68
EFAV iShares Edge MSCI Min Vol EAFE ETF	85	1.82	2.42	1.35	3.06	11.14
IDV iShares International Select Dividend ETF	96	2.89	3.59	1.59	4.17	18.36
EELV Invesco S&P Emerging Markets Low Volatility ETF	80	1.67	2.32	1.33	2.49	9.15
OEF iShares S&P 100 ETF	53	0.96	1.50	1.22	1.61	6.30
XMLV Invesco S&P MidCap Low Volatility ETF	22	0.40	0.66	1.09	0.55	2.34

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.

RIce Alpha 1 Midcap Conservative Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 1.87
5-Year: 0.92
10-Year: 0.74
All Time: 0.73

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 RIce Alpha 1 Midcap Conservative 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

RIce Alpha 1 Midcap Conservative provided a 2.74% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	2.74%	2.84%	3.16%	3.30%	3.26%	2.66%	2.36%	3.27%	3.37%	2.44%	3.12%	2.48%
Portfolio components:
SPMO Invesco S&P 500 Momentum ETF	0.88%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%
EFAV iShares Edge MSCI Min Vol EAFE ETF	3.00%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%
IDV iShares International Select Dividend ETF	4.59%	4.94%	6.46%	6.51%	7.33%	5.78%	5.47%	5.15%	5.93%	4.52%	4.69%	5.08%
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.62%	3.75%	4.70%	4.00%	3.45%	4.35%	2.82%	3.14%	5.50%	2.92%	2.29%	2.53%
OEF iShares S&P 100 ETF	0.98%	0.81%	1.03%	1.19%	1.55%	1.06%	1.43%	1.87%	2.09%	1.81%	2.07%	2.11%
XMLV Invesco S&P MidCap Low Volatility ETF	2.90%	2.87%	2.23%	2.34%	2.05%	1.14%	1.93%	2.02%	2.13%	1.74%	1.72%	1.85%

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 RIce Alpha 1 Midcap Conservative. 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 RIce Alpha 1 Midcap Conservative was 32.88%, occurring on Mar 23, 2020. Recovery took 176 trading sessions.

The current RIce Alpha 1 Midcap Conservative drawdown is 3.68%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-32.88%	Feb 20, 2020	23	Mar 23, 2020	176	Dec 1, 2020	199
-22.19%	Jan 13, 2022	188	Oct 12, 2022	302	Dec 26, 2023	490
-14.1%	Sep 21, 2018	65	Dec 24, 2018	75	Apr 12, 2019	140
-10.29%	Nov 4, 2015	53	Jan 21, 2016	47	Mar 30, 2016	100
-10.19%	Mar 26, 2025	10	Apr 8, 2025	11	Apr 24, 2025	21

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 5.00, 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	XMLV	SPMO	EELV	EFAV	IDV	OEF	Portfolio
Benchmark	1.00	0.71	0.78	0.63	0.67	0.68	0.98	0.88
XMLV	0.71	1.00	0.51	0.49	0.61	0.61	0.63	0.73
SPMO	0.78	0.51	1.00	0.47	0.51	0.50	0.78	0.76
EELV	0.63	0.49	0.47	1.00	0.69	0.74	0.60	0.77
EFAV	0.67	0.61	0.51	0.69	1.00	0.82	0.63	0.88
IDV	0.68	0.61	0.50	0.74	0.82	1.00	0.63	0.88
OEF	0.98	0.63	0.78	0.60	0.63	0.63	1.00	0.84
Portfolio	0.88	0.73	0.76	0.77	0.88	0.88	0.84	1.00

The correlation results are calculated based on daily price changes starting from Oct 13, 2015

RIce Alpha 1 Midcap Conservative

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