Portfolio

Asset Allocation

Position	Category/Sector	Target Weight
MDA.TO MDA Space Ltd.	Industrials	6.67%
NEO.TO Neo Performance Materials Inc.	Basic Materials	6.67%
HBM.TO Hudbay Minerals Inc.	Basic Materials	6.67%
BNS.TO The Bank of Nova Scotia	Financial Services	6.67%
AII.TO Almonty Industries Inc.	Basic Materials	6.67%
ARE.TO Aecon Group Inc.	Industrials	6.67%
ATRL.TO SNC-Lavalin Group Inc	Industrials	6.67%
BHP BHP Group Limited	Basic Materials	6.67%
CCO.TO Cameco Corporation	Energy	6.67%
EQX.TO Equinox Gold Corp.	Basic Materials	6.67%
LUN.TO Lundin Mining Corporation	Basic Materials	6.67%
MAL.TO Magellan Aerospace Corporation	Industrials	6.67%
PAAS.TO Pan American Silver Corp.	Basic Materials	6.67%
PNG.V Kraken Robotics Inc	Technology	6.67%
UCU.V Ucore Rare Metals Inc	Basic Materials	6.67%

Benchmark

S&P 500 Index

Rebalance

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Performance

Performance Chart

The chart shows the growth of an initial investment of CA$10,000 in 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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Returns By Period

Position	1D	1M	6M	YTD	1Y	3Y*	5Y*	10Y*	ALL TIME*
Benchmark S&P 500 Index	1.26%	-0.09%	12.05%	12.71%	22.10%	20.92%	13.99%	14.03%	9.23%
Portfolio Portfolio	3.82%	-8.48%	7.43%	29.24%	112.65%	81.78%	42.83%	—	37.14%
Portfolio components:
AII.TO Almonty Industries Inc.	8.29%	-20.70%	62.07%	75.23%	242.23%	189.69%	68.76%	45.14%	21.50%
ARE.TO Aecon Group Inc.	3.81%	20.19%	55.18%	68.73%	172.13%	66.99%	28.79%	15.77%	15.01%
ATRL.TO SNC-Lavalin Group Inc	0.41%	2.78%	-8.76%	0.72%	-9.19%	32.08%	23.84%	5.62%	6.94%
BHP BHP Group Limited	4.06%	-5.22%	34.03%	44.83%	67.68%	19.14%	16.99%	22.00%	14.17%
BNS.TO The Bank of Nova Scotia	0.79%	0.85%	24.24%	25.76%	69.56%	29.48%	16.07%	12.08%	9.81%
CCO.TO Cameco Corporation	4.91%	-17.20%	-21.98%	-0.47%	18.78%	42.89%	42.30%	25.81%	6.62%
EQX.TO Equinox Gold Corp.	0.99%	-15.78%	-40.38%	-36.51%	42.57%	22.27%	8.41%	2.96%	0.17%
HBM.TO Hudbay Minerals Inc.	10.47%	-17.16%	-5.01%	18.97%	141.54%	66.74%	31.44%	18.09%	4.43%
LUN.TO Lundin Mining Corporation	5.97%	-2.53%	1.90%	22.87%	164.33%	50.37%	30.34%	24.06%	7.34%
MAL.TO Magellan Aerospace Corporation	7.77%	6.71%	53.71%	87.91%	96.09%	62.81%	29.87%	9.66%	7.02%

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

Monthly Returns

Based on dividend-adjusted daily data since Apr 7, 2021, Portfolio's average daily return is +0.14%, while the average monthly return is +2.91%. At this rate, an investment would double in approximately 2.0 years.

Historically, 59% of months were positive and 41% were negative. The best month was Aug 2025 with a return of +24.1%, while the worst month was Mar 2026 at -13.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, Portfolio closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +9.2%, while the worst single day was Jun 5, 2026 at -8.6%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	19.62%	15.37%	-13.00%	9.85%	8.79%	-5.95%	-4.23%						29.24%
2025	0.74%	2.54%	8.67%	6.96%	4.00%	23.17%	1.47%	24.08%	21.52%	9.43%	-2.54%	7.88%	170.75%
2024	1.99%	2.06%	10.40%	1.56%	4.82%	-1.28%	4.07%	2.13%	6.79%	5.56%	9.29%	-0.16%	57.88%
2023	17.34%	-3.70%	2.93%	-1.87%	-1.66%	1.01%	3.86%	-0.23%	-2.12%	-1.47%	7.57%	5.45%	28.50%
2022	-0.06%	4.30%	5.94%	-8.55%	-7.44%	-11.45%	4.03%	-1.70%	-5.72%	0.74%	8.47%	-1.08%	-13.73%
2021				-3.61%	0.60%	-4.94%	-0.16%	-1.93%	-2.96%	3.15%	-3.84%	-0.18%	-13.28%

Benchmark Metrics

Portfolio has an annualized alpha of 21.64%, beta of 0.75, and R2 of 0.26 versus S&P 500 Index. Calculated based on daily prices since April 07, 2021.

This portfolio captured 117.61% of S&P 500 Index gains but only 30.81% of its losses - a favorable profile for investors.
R2 of 0.26 means this portfolio moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha: 21.64%

Beta: 0.75

R²: 0.26

Upside Capture: 117.61%

Downside Capture: 30.81%

See how alpha, beta & R² have trended over time →

Expense Ratio

Portfolio has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

Portfolio ranks 90 for risk / return — in the top 90% 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

The table below presents risk-adjusted performance metrics for Portfolio 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	2.92	1.71	+1.21
Sortino ratioReturn per unit of downside risk	3.30	2.41	+0.89
Omega ratioGain probability vs. loss probability	1.43	1.30	+0.14
Calmar ratioReturn relative to maximum drawdown	5.47	2.42	+3.05
Martin ratioReturn relative to average drawdown	14.97	8.91	+6.06

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
AII.TO Almonty Industries Inc.	93	2.58	2.85	1.34	5.60	12.23
ARE.TO Aecon Group Inc.	98	4.14	4.65	1.58	6.81	18.27
ATRL.TO SNC-Lavalin Group Inc	32	-0.26	-0.13	0.98	-0.38	-0.70
BHP BHP Group Limited	90	2.06	2.63	1.33	3.51	11.61
BNS.TO The Bank of Nova Scotia	98	4.39	5.91	1.81	6.09	23.47
CCO.TO Cameco Corporation	59	0.35	0.92	1.11	0.55	1.37
EQX.TO Equinox Gold Corp.	66	0.70	1.30	1.16	0.81	2.02
HBM.TO Hudbay Minerals Inc.	91	2.34	2.62	1.35	3.96	10.51
LUN.TO Lundin Mining Corporation	94	3.00	3.12	1.41	4.91	13.59
MAL.TO Magellan Aerospace Corporation	91	2.01	2.79	1.33	4.53	11.98

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. Learn how to interpret the Sharpe ratio.

The current Portfolio Sharpe ratio is 2.92 as of Jul 21, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.21 to 1.98, 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 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

Portfolio provided a 0.81% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.81%	1.05%	1.70%	2.01%	3.42%	2.08%	1.58%	1.71%	1.59%	1.26%	1.01%	1.90%
Portfolio components:
AII.TO Almonty Industries 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%
ARE.TO Aecon Group Inc.	1.46%	2.43%	2.79%	5.66%	8.12%	4.15%	3.91%	3.31%	2.84%	2.51%	3.02%	2.60%
ATRL.TO SNC-Lavalin Group Inc	0.09%	0.09%	0.10%	0.19%	0.34%	0.26%	0.37%	0.80%	2.50%	1.91%	1.80%	2.43%
BHP BHP Group Limited	3.19%	3.64%	5.98%	4.98%	22.44%	9.98%	3.67%	8.59%	4.89%	3.61%	1.68%	9.38%
BNS.TO The Bank of Nova Scotia	3.60%	4.27%	5.49%	6.48%	4.61%	5.14%	5.23%	3.60%	4.91%	3.82%	3.91%	6.11%
CCO.TO Cameco Corporation	0.19%	0.19%	0.22%	0.21%	0.39%	0.29%	0.47%	0.69%	0.52%	3.45%	2.85%	2.34%
EQX.TO Equinox Gold Corp.	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HBM.TO Hudbay Minerals Inc.	0.09%	0.07%	0.17%	0.27%	0.29%	0.22%	0.22%	0.37%	0.31%	0.18%	0.26%	0.38%
LUN.TO Lundin Mining Corporation	0.30%	0.58%	2.91%	3.32%	5.66%	3.95%	1.42%	1.55%	2.13%	1.44%	0.00%	0.00%
MAL.TO Magellan Aerospace Corporation	0.58%	0.94%	0.99%	1.27%	2.60%	4.22%	4.79%	2.88%	2.37%	1.33%	1.32%	1.38%

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 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 Portfolio was 33.60%, occurring on Sep 26, 2022. Recovery took 366 trading sessions.

The current Portfolio drawdown is 16.31%.

Drawdown	Fall	Recovery	Underwater	Related event
-33.60%Sep 2022	1y 5mo	1y 5mo	2y 10moApr 2021 - Mar 2024	Bear market2022
-20.14%Mar 2026	27d	1mo 27d	2mo 24dMar 2026 - May 2026	—
-17.36%Apr 2025	14d	20d	1mo 4dMar 2025 - Apr 2025	2025 selloff2025
-17.25%Nov 2025	1mo 6d	1mo 13d	2mo 19dOct 2025 - Jan 2026	—
-16.31%Jul 2026	1mo 17d	—	1mo 19dJun 2026 - now	—

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 15 assets, with an effective number of assets of 15.00, 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	All Time
Diversification Ratio	1.62	1.83	1.88	1.90

The portfolio has a diversification ratio of 1.90, placing it in the top 5% across portfolios — assets in this portfolio move largely independently, providing strong diversification benefit.

Portfolio correlation to the S&P 500 Index

Portfolio has a 0.55 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021	0.47

Benchmark Correlations

Correlation vs. S&P 500 Index. BHP has the highest benchmark correlation at 0.49, while UCU.V has the lowest at 0.08.

0.08

0.10

0.21

0.22

0.22

0.23

0.34

0.34

0.35

0.36

Portfolio Correlations

Correlation vs. Portfolio. HBM.TO has the highest portfolio correlation at 0.70, while MAL.TO has the lowest at 0.34.

0.34

0.41

0.41

0.42

0.42

0.42

0.43

0.46

0.56

0.57

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	UCU.V	AII.TO	MAL.TO	PNG.V	MDA.TO	ARE.TO	BNS.TO	ATRL.TO	EQX.TO	NEO.TO	PAAS.TO	CCO.TO	BHP	LUN.TO	HBM.TO
UCU.V	1.00	0.13	0.09	0.11	0.11	0.07	0.11	0.10	0.15	0.15	0.15	0.14	0.11	0.15	0.16
AII.TO	0.13	1.00	0.14	0.14	0.14	0.10	0.13	0.09	0.18	0.17	0.18	0.15	0.15	0.16	0.21
MAL.TO	0.09	0.14	1.00	0.12	0.20	0.19	0.16	0.19	0.12	0.19	0.13	0.21	0.16	0.20	0.22
PNG.V	0.11	0.14	0.12	1.00	0.18	0.14	0.16	0.15	0.14	0.23	0.15	0.20	0.19	0.18	0.21
MDA.TO	0.11	0.14	0.20	0.18	1.00	0.26	0.23	0.24	0.12	0.25	0.13	0.24	0.18	0.19	0.20
ARE.TO	0.07	0.10	0.19	0.14	0.26	1.00	0.33	0.47	0.13	0.25	0.16	0.32	0.25	0.25	0.27
BNS.TO	0.11	0.13	0.16	0.16	0.23	0.33	1.00	0.31	0.16	0.28	0.17	0.26	0.36	0.32	0.34
ATRL.TO	0.10	0.09	0.19	0.15	0.24	0.47	0.31	1.00	0.20	0.27	0.24	0.37	0.26	0.29	0.32
EQX.TO	0.15	0.18	0.12	0.14	0.12	0.13	0.16	0.20	1.00	0.22	0.76	0.30	0.38	0.40	0.46
NEO.TO	0.15	0.17	0.19	0.23	0.25	0.25	0.28	0.27	0.22	1.00	0.27	0.32	0.34	0.36	0.39
PAAS.TO	0.15	0.18	0.13	0.15	0.13	0.16	0.17	0.24	0.76	0.27	1.00	0.35	0.38	0.42	0.52
CCO.TO	0.14	0.15	0.21	0.20	0.24	0.32	0.26	0.37	0.30	0.32	0.35	1.00	0.35	0.36	0.43
BHP	0.11	0.15	0.16	0.19	0.18	0.25	0.36	0.26	0.38	0.34	0.38	0.35	1.00	0.56	0.62
LUN.TO	0.15	0.16	0.20	0.18	0.19	0.25	0.32	0.29	0.40	0.36	0.42	0.36	0.56	1.00	0.73
HBM.TO	0.16	0.21	0.22	0.21	0.20	0.27	0.34	0.32	0.46	0.39	0.52	0.43	0.62	0.73	1.00

The correlation results are calculated based on daily price changes starting from Apr 7, 2021

Diversification Analysis

Find what Portfolio is missing

See which holdings overlap, where Portfolio is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification