Defensive Equities ETFs

Asset Allocation

Position	Category/Sector	Target Weight
BIL SPDR Barclays 1-3 Month T-Bill ETF	Government Bonds	10%
SCHH Schwab US REIT ETF	REIT	9%
TLT iShares 20+ Year Treasury Bond ETF	Government Bonds, Long-Term Bond	5%
VCIT Vanguard Intermediate-Term Corporate Bond ETF	Corporate Bonds	5%
VNQI Vanguard Global ex-U.S. Real Estate ETF	REIT	6%
VXUS Vanguard Total International Stock ETF	Foreign Large Cap Equities	15%
XLE State Street Energy Select Sector SPDR ETF	Energy Equities	13%
XLP State Street Consumer Staples Select Sector SPDR ETF	Consumer Staples Equities	12%
XLU Utilities Select Sector SPDR Fund	Utilities Equities	13%
XLV State Street Health Care Select Sector SPDR ETF	Health & Biotech Equities	12%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Defensive Equities ETFs, 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 Jan 28, 2011, corresponding to the inception date of VXUS

Returns By Period

As of Apr 9, 2026, the Defensive Equities ETFs returned 8.47% Year-To-Date and 7.96% of annualized return in the last 10 years.

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	2.51%	-0.19%	-0.92%	0.43%	36.13%	18.22%	10.44%	12.72%
Portfolio Defensive Equities ETFs	1.27%	0.64%	8.47%	9.66%	26.94%	10.24%	8.41%	7.96%
Portfolio components:
BIL SPDR Barclays 1-3 Month T-Bill ETF	0.00%	0.29%	0.93%	1.82%	3.96%	4.69%	3.30%	2.13%
TLT iShares 20+ Year Treasury Bond ETF	0.32%	-2.20%	0.84%	-0.43%	2.84%	-3.30%	-5.73%	-1.42%
VCIT Vanguard Intermediate-Term Corporate Bond ETF	0.33%	-0.67%	0.31%	1.32%	8.93%	5.48%	1.51%	3.10%
VXUS Vanguard Total International Stock ETF	4.11%	2.99%	7.79%	11.11%	50.91%	17.40%	8.25%	9.50%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.27%	-1.16%	2.18%	3.69%	29.91%	9.32%	0.36%	2.93%
SCHH Schwab US REIT ETF	1.73%	-0.57%	7.52%	7.13%	21.62%	8.33%	4.17%	3.71%
XLE State Street Energy Select Sector SPDR ETF	-3.51%	3.75%	30.69%	32.47%	56.76%	14.63%	23.72%	10.82%
XLV State Street Health Care Select Sector SPDR ETF	2.12%	-2.58%	-2.92%	4.44%	14.56%	5.62%	6.58%	9.81%
XLU Utilities Select Sector SPDR Fund	1.10%	0.55%	10.35%	4.54%	31.65%	13.68%	10.93%	10.16%
XLP State Street Consumer Staples Select Sector SPDR ETF	1.87%	-3.17%	7.17%	7.87%	11.42%	6.03%	6.50%	7.31%

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

Monthly Returns

Based on dividend-adjusted daily data since Jan 31, 2011, Defensive Equities ETFs's average daily return is +0.03%, while the average monthly return is +0.69%. At this rate, your investment would double in approximately 8.4 years.

Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +9.3%, while the worst month was Mar 2020 at -11.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.

On a daily basis, Defensive Equities ETFs closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +6.2%, while the worst single day was Mar 16, 2020 at -8.2%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	4.29%	6.15%	-3.50%	1.54%									8.47%
2025	2.30%	2.59%	0.01%	-1.67%	1.09%	1.84%	0.07%	2.31%	1.36%	0.32%	2.65%	-0.94%	12.45%
2024	-0.99%	1.61%	3.99%	-2.29%	3.23%	-0.70%	3.39%	3.08%	1.70%	-2.76%	2.52%	-5.44%	7.05%
2023	2.97%	-4.38%	1.91%	2.06%	-4.83%	3.25%	2.75%	-2.50%	-3.09%	-2.46%	5.42%	3.95%	4.42%
2022	-0.56%	-0.44%	3.87%	-3.49%	1.99%	-6.13%	4.57%	-2.41%	-7.99%	6.09%	6.14%	-2.08%	-1.61%
2021	-0.40%	2.22%	3.78%	2.79%	1.60%	0.91%	0.79%	1.17%	-2.50%	4.28%	-2.28%	5.49%	19.01%

Benchmark Metrics

Defensive Equities ETFs has an annualized alpha of 1.03%, beta of 0.60, and R² of 0.78 versus S&P 500 Index. Calculated based on daily prices since January 31, 2011.

This portfolio participated in 65.59% of S&P 500 Index downside but only 61.01% of its upside — more exposed to losses than it benefited from rallies.
Beta of 0.60 indicates this portfolio moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

Alpha: 1.03%

Beta: 0.60

R²: 0.78

Upside Capture: 61.01%

Downside Capture: 65.59%

Expense Ratio

Defensive Equities ETFs has an expense ratio of 0.09%, 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.

TLT

iShares 20+ Year Treasury Bond ETF

BIL

SPDR Barclays 1-3 Month T-Bill ETF

XLU

Utilities Select Sector SPDR Fund

VNQI

Vanguard Global ex-U.S. Real Estate ETF

XLE

State Street Energy Select Sector SPDR ETF

XLV

State Street Health Care Select Sector SPDR ETF

XLP

State Street Consumer Staples Select Sector SPDR ETF

SCHH

Schwab US REIT ETF

VXUS

Vanguard Total International Stock ETF

VCIT

Vanguard Intermediate-Term Corporate Bond ETF

Return for Risk

Risk / Return Rank

Defensive Equities ETFs ranks 74 for risk / return — better than 74% 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.

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	2.92	2.19	+0.73
Sortino ratio Return per unit of downside risk	4.51	3.49	+1.02
Omega ratio Gain probability vs. loss probability	1.61	1.48	+0.13
Calmar ratio Return relative to maximum drawdown	4.21	3.70	+0.50
Martin ratio Return relative to average drawdown	17.46	16.45	+1.01
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
BIL SPDR Barclays 1-3 Month T-Bill ETF	100	19.40	252.58	178.89	365.78	4,106.73
TLT iShares 20+ Year Treasury Bond ETF	8	0.27	0.44	1.05	-0.33	-0.71
VCIT Vanguard Intermediate-Term Corporate Bond ETF	53	1.98	2.91	1.37	2.17	8.74
VXUS Vanguard Total International Stock ETF	89	3.18	4.56	1.63	4.07	16.43
VNQI Vanguard Global ex-U.S. Real Estate ETF	55	2.16	3.21	1.41	1.74	7.22
SCHH Schwab US REIT ETF	36	1.46	2.15	1.28	1.82	5.77
XLE State Street Energy Select Sector SPDR ETF	81	2.58	3.31	1.44	7.09	18.28
XLV State Street Health Care Select Sector SPDR ETF	23	0.87	1.34	1.16	1.24	3.33
XLU Utilities Select Sector SPDR Fund	59	2.17	2.96	1.38	3.17	7.89
XLP State Street Consumer Staples Select Sector SPDR ETF	20	0.87	1.38	1.16	0.87	2.04

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.

Defensive Equities ETFs Sharpe ratios as of Apr 9, 2026 (values are recalculated daily):

1-Year: 2.92
5-Year: 0.80
10-Year: 0.66
All Time: 0.69

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 2.14 to 2.98, this portfolio's current Sharpe ratio falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of Defensive Equities ETFs 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

Defensive Equities ETFs provided a 3.00% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	3.00%	3.20%	3.40%	3.26%	2.48%	2.55%	2.50%	3.48%	3.01%	2.51%	2.54%	2.51%
Portfolio components:
BIL SPDR Barclays 1-3 Month T-Bill ETF	3.95%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%
TLT iShares 20+ Year Treasury Bond ETF	4.50%	4.43%	4.30%	3.38%	2.67%	1.50%	1.50%	2.27%	2.63%	2.43%	2.60%	2.61%
VCIT Vanguard Intermediate-Term Corporate Bond ETF	4.73%	4.62%	4.43%	3.72%	3.03%	2.87%	2.78%	3.37%	3.61%	3.21%	3.29%	3.34%
VXUS Vanguard Total International Stock ETF	2.82%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%
VNQI Vanguard Global ex-U.S. Real Estate ETF	4.60%	4.70%	5.16%	3.74%	0.57%	6.48%	0.93%	7.58%	4.62%	3.86%	5.18%	2.86%
SCHH Schwab US REIT ETF	2.91%	3.04%	3.22%	3.24%	2.55%	1.50%	2.86%	2.86%	3.64%	2.22%	2.81%	2.48%
XLE State Street Energy Select Sector SPDR ETF	2.57%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%
XLV State Street Health Care Select Sector SPDR ETF	1.67%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%
XLU Utilities Select Sector SPDR Fund	2.54%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%
XLP State Street Consumer Staples Select Sector SPDR ETF	2.63%	2.75%	2.77%	2.63%	2.47%	2.28%	2.50%	2.57%	3.04%	2.62%	2.53%	2.52%

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 Defensive Equities ETFs. 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 Defensive Equities ETFs was 28.87%, occurring on Mar 23, 2020. Recovery took 179 trading sessions.

The current Defensive Equities ETFs drawdown is 2.02%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-28.87%	Feb 18, 2020	25	Mar 23, 2020	179	Dec 4, 2020	204
-14.59%	Apr 21, 2022	113	Sep 30, 2022	358	Mar 6, 2024	471
-12.54%	Jul 25, 2011	50	Oct 3, 2011	84	Feb 2, 2012	134
-11.57%	Apr 27, 2015	186	Jan 20, 2016	94	Jun 3, 2016	280
-10.95%	Jan 29, 2018	229	Dec 24, 2018	53	Mar 13, 2019	282

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 10 assets, with an effective number of assets of 8.94, reflecting the diversification based on asset allocation. This number of effective assets indicates a moderate level of diversification, where some assets may have a more significant influence on overall performance.

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	BIL	TLT	VCIT	XLE	XLU	XLP	XLV	SCHH	VNQI	VXUS	Portfolio
Benchmark	1.00	-0.00	-0.23	0.06	0.56	0.43	0.61	0.73	0.59	0.68	0.81	0.81
BIL	-0.00	1.00	0.01	0.02	0.01	0.01	0.00	-0.03	-0.02	0.01	0.01	0.00
TLT	-0.23	0.01	1.00	0.75	-0.29	0.08	-0.08	-0.15	0.02	-0.11	-0.20	-0.07
VCIT	0.06	0.02	0.75	1.00	-0.07	0.23	0.12	0.07	0.24	0.17	0.10	0.21
XLE	0.56	0.01	-0.29	-0.07	1.00	0.27	0.34	0.39	0.36	0.47	0.57	0.69
XLU	0.43	0.01	0.08	0.23	0.27	1.00	0.60	0.43	0.60	0.39	0.36	0.67
XLP	0.61	0.00	-0.08	0.12	0.34	0.60	1.00	0.61	0.60	0.50	0.51	0.73
XLV	0.73	-0.03	-0.15	0.07	0.39	0.43	0.61	1.00	0.52	0.54	0.60	0.73
SCHH	0.59	-0.02	0.02	0.24	0.36	0.60	0.60	0.52	1.00	0.59	0.54	0.75
VNQI	0.68	0.01	-0.11	0.17	0.47	0.39	0.50	0.54	0.59	1.00	0.84	0.77
VXUS	0.81	0.01	-0.20	0.10	0.57	0.36	0.51	0.60	0.54	0.84	1.00	0.81
Portfolio	0.81	0.00	-0.07	0.21	0.69	0.67	0.73	0.73	0.75	0.77	0.81	1.00

The correlation results are calculated based on daily price changes starting from Jan 31, 2011

Defensive Equities ETFs

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