Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
COPX Global X Copper Miners ETF | Materials | 10% |
GDX VanEck Gold Miners ETF | Gold, Precious Metals | 50% |
SIL Global X Silver Miners ETF | Precious Metals | 40% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility, 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 Apr 20, 2010, corresponding to the inception date of SIL
Returns By Period
As of Apr 3, 2026, the PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility returned 10.22% Year-To-Date and 18.14% 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 PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility | -1.17% | -11.47% | 10.22% | 27.31% | 119.71% | 43.27% | 22.20% | 18.14% |
| Portfolio components: | ||||||||
GDX VanEck Gold Miners ETF | -1.48% | -10.12% | 10.28% | 23.58% | 108.21% | 43.61% | 24.72% | 18.24% |
SIL Global X Silver Miners ETF | -0.65% | -13.05% | 10.93% | 31.44% | 138.87% | 45.80% | 19.00% | 15.27% |
COPX Global X Copper Miners ETF | -1.65% | -11.68% | 7.06% | 29.42% | 102.29% | 27.96% | 18.88% | 21.18% |
Monthly Returns
Based on dividend-adjusted daily data since Apr 21, 2010, PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility's average daily return is +0.05%, while the average monthly return is +1.03%. At this rate, your investment would double in approximately 5.6 years.
Historically, 50% of months were positive and 50% were negative. The best month was Apr 2020 with a return of +34.0%, while the worst month was Mar 2026 at -21.9%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 8 months.
On a daily basis, PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility closed higher 50% of trading days. The best single day was Mar 24, 2020 with a return of +15.3%, while the worst single day was Mar 18, 2020 at -18.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.89% | 22.77% | -21.91% | 2.74% | 10.22% | ||||||||
| 2025 | 11.00% | 1.18% | 13.62% | 4.33% | 4.84% | 7.04% | -1.49% | 21.86% | 21.81% | -5.34% | 14.72% | 6.80% | 153.35% |
| 2024 | -9.49% | -6.46% | 19.31% | 7.72% | 9.27% | -6.75% | 9.77% | -1.18% | 5.22% | 3.93% | -6.01% | -9.61% | 11.76% |
| 2023 | 10.53% | -12.66% | 14.98% | 1.00% | -9.09% | -1.68% | 5.97% | -6.17% | -8.35% | 1.27% | 12.57% | 2.35% | 6.54% |
| 2022 | -6.72% | 9.75% | 9.27% | -9.46% | -7.81% | -14.83% | -1.24% | -9.57% | 1.45% | 1.74% | 18.40% | -0.47% | -13.61% |
| 2021 | -3.92% | -4.12% | -0.23% | 5.73% | 14.51% | -12.65% | 1.08% | -5.36% | -10.70% | 8.98% | -1.50% | 1.06% | -9.92% |
Benchmark Metrics
PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility has an annualized alpha of 5.27%, beta of 0.65, and R² of 0.09 versus S&P 500 Index. Calculated based on daily prices since April 21, 2010.
- This portfolio participated in 65.96% of S&P 500 Index downside but only 55.73% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.65 may look defensive, but with R² of 0.09 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 0.09 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
- 5.27%
- Beta
- 0.65
- R²
- 0.09
- Upside Capture
- 55.73%
- Downside Capture
- 65.96%
Expense Ratio
PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility has an expense ratio of 0.58%, 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
PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility 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.
Return / Risk — by metrics
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.64 | 0.88 | +1.76 |
Sortino ratioReturn per unit of downside risk | 2.75 | 1.37 | +1.38 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 3.82 | 1.39 | +2.43 |
Martin ratioReturn relative to average drawdown | 13.78 | 6.43 | +7.35 |
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 | |
|---|---|---|---|---|---|---|
GDX VanEck Gold Miners ETF | 90 | 2.35 | 2.55 | 1.37 | 3.50 | 12.47 |
SIL Global X Silver Miners ETF | 93 | 2.80 | 2.83 | 1.41 | 4.25 | 14.39 |
COPX Global X Copper Miners ETF | 91 | 2.44 | 2.77 | 1.38 | 3.63 | 13.75 |
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Dividends
Dividend yield
PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility provided a 1.01% dividend yield over the last twelve months.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 1.01% | 1.11% | 1.73% | 1.28% | 1.34% | 1.62% | 1.16% | 1.08% | 0.99% | 0.54% | 1.53% | 0.70% |
| Portfolio components: | ||||||||||||
GDX VanEck Gold Miners ETF | 0.67% | 0.74% | 1.19% | 1.61% | 1.66% | 1.67% | 0.53% | 0.67% | 0.50% | 0.76% | 0.26% | 0.85% |
SIL Global X Silver Miners ETF | 1.07% | 1.18% | 2.40% | 0.59% | 0.48% | 1.59% | 1.92% | 1.53% | 1.21% | 0.02% | 3.34% | 0.38% |
COPX Global X Copper Miners ETF | 2.50% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
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 PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility. 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 PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility was 80.74%, occurring on Jan 19, 2016. Recovery took 2413 trading sessions.
The current PM - Gold, Silver, Copper - 748.95 - Mining - Maximize Quadratic Utility drawdown is 19.77%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -80.74% | Apr 11, 2011 | 1201 | Jan 19, 2016 | 2413 | Aug 22, 2025 | 3614 |
| -31.39% | Mar 2, 2026 | 15 | Mar 20, 2026 | — | — | — |
| -19.23% | Oct 17, 2025 | 13 | Nov 4, 2025 | 25 | Dec 10, 2025 | 38 |
| -17.87% | Jan 29, 2026 | 6 | Feb 5, 2026 | 14 | Feb 26, 2026 | 20 |
| -16.34% | Jan 4, 2011 | 15 | Jan 25, 2011 | 25 | Mar 2, 2011 | 40 |
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 2.38, 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 | COPX | GDX | SIL | Portfolio | |
|---|---|---|---|---|---|
| Benchmark | 1.00 | 0.58 | 0.20 | 0.29 | 0.28 |
| COPX | 0.58 | 1.00 | 0.45 | 0.55 | 0.57 |
| GDX | 0.20 | 0.45 | 1.00 | 0.91 | 0.97 |
| SIL | 0.29 | 0.55 | 0.91 | 1.00 | 0.98 |
| Portfolio | 0.28 | 0.57 | 0.97 | 0.98 | 1.00 |