golden butterfly Option 3

Asset Allocation

Position	Category/Sector	Target Weight
ITOT iShares Core S&P Total U.S. Stock Market ETF	Large Cap Growth Equities	30%
SGOL abrdn Physical Gold Shares ETF	Precious Metals, Gold	30%
SHY iShares 1-3 Year Treasury Bond ETF	Government Bonds	30%
SMH VanEck Semiconductor ETF	Semiconductors, Technology Equities	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 golden butterfly Option 3, 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 Sep 9, 2009, corresponding to the inception date of SGOL

Returns By Period

As of Apr 3, 2026, the golden butterfly Option 3 returned 2.56% Year-To-Date and 12.50% 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 golden butterfly Option 3	-0.53%	-3.70%	2.56%	7.77%	28.20%	20.95%	13.24%	12.50%
Portfolio components:
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.16%	-3.24%	-3.15%	-1.32%	17.82%	18.06%	10.65%	13.71%
SHY iShares 1-3 Year Treasury Bond ETF	0.05%	-0.23%	0.31%	1.24%	3.70%	3.85%	1.71%	1.65%
SGOL abrdn Physical Gold Shares ETF	-1.96%	-8.34%	8.35%	21.12%	49.31%	32.79%	21.78%	14.16%
SMH VanEck Semiconductor ETF	0.09%	0.32%	8.94%	16.35%	83.82%	44.85%	26.17%	31.69%

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

Monthly Returns

Based on dividend-adjusted daily data since Sep 10, 2009, golden butterfly Option 3's average daily return is +0.04%, while the average monthly return is +0.85%. At this rate, your investment would double in approximately 6.8 years.

Historically, 65% of months were positive and 35% were negative. The best month was Apr 2020 with a return of +7.6%, while the worst month was Sep 2011 at -6.3%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, golden butterfly Option 3 closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +5.4%, while the worst single day was Mar 12, 2020 at -4.7%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.49%	2.75%	-5.80%	0.44%									2.56%
2025	3.11%	-0.16%	0.49%	1.64%	3.08%	3.61%	0.86%	2.50%	5.91%	2.99%	1.48%	1.06%	29.87%
2024	0.59%	3.09%	4.32%	-1.00%	3.29%	1.90%	2.00%	1.43%	2.51%	0.73%	1.14%	-1.23%	20.30%
2023	5.72%	-2.44%	4.72%	0.06%	1.19%	1.84%	2.44%	-1.13%	-3.63%	1.05%	5.34%	3.37%	19.63%
2022	-3.55%	0.77%	0.95%	-4.94%	-0.30%	-4.63%	3.74%	-3.33%	-5.47%	2.03%	6.33%	-1.98%	-10.60%
2021	-0.65%	-0.22%	0.90%	2.59%	2.77%	-1.11%	1.39%	1.15%	-2.94%	3.02%	0.53%	2.27%	9.96%

Benchmark Metrics

golden butterfly Option 3 has an annualized alpha of 4.85%, beta of 0.44, and R² of 0.64 versus S&P 500 Index. Calculated based on daily prices since September 10, 2009.

This portfolio participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (52.61%) than losses (38.54%) — typical of diversified or defensive assets.
This portfolio generated an annualized alpha of 4.85% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
Beta of 0.44 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: 4.85%

Beta: 0.44

R²: 0.64

Upside Capture: 52.61%

Downside Capture: 38.54%

Expense Ratio

golden butterfly Option 3 has an expense ratio of 0.14%, 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.

SMH

VanEck Semiconductor ETF

SGOL

abrdn Physical Gold Shares ETF

SHY

iShares 1-3 Year Treasury Bond ETF

ITOT

iShares Core S&P Total U.S. Stock Market ETF

Return for Risk

Risk / Return Rank

golden butterfly Option 3 ranks 88 for risk / return — in the top 88% 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	2.15	0.88	+1.27
Sortino ratio Return per unit of downside risk	2.90	1.37	+1.54
Omega ratio Gain probability vs. loss probability	1.46	1.21	+0.25
Calmar ratio Return relative to maximum drawdown	3.05	1.39	+1.66
Martin ratio Return relative to average drawdown	12.35	6.43	+5.92
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
ITOT iShares Core S&P Total U.S. Stock Market ETF	54	0.96	1.47	1.22	1.52	7.10
SHY iShares 1-3 Year Treasury Bond ETF	95	2.57	4.23	1.54	4.08	15.52
SGOL abrdn Physical Gold Shares ETF	81	1.80	2.23	1.33	2.59	9.38
SMH VanEck Semiconductor ETF	94	2.28	2.89	1.41	5.34	18.94

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.

golden butterfly Option 3 Sharpe ratios as of Apr 3, 2026 (values are recalculated daily):

1-Year: 2.15
5-Year: 1.25
10-Year: 1.27
All Time: 1.10

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 golden butterfly Option 3 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

golden butterfly Option 3 provided a 1.48% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	1.48%	1.50%	1.59%	1.40%	1.01%	0.48%	0.77%	1.35%	1.35%	0.94%	0.84%	0.98%
Portfolio components:
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.12%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
SHY iShares 1-3 Year Treasury Bond ETF	3.72%	3.81%	3.92%	2.99%	1.30%	0.26%	0.94%	2.12%	1.72%	0.98%	0.71%	0.54%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.28%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

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 golden butterfly Option 3. 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 golden butterfly Option 3 was 17.31%, occurring on Oct 14, 2022. Recovery took 184 trading sessions.

The current golden butterfly Option 3 drawdown is 6.57%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-17.31%	Nov 19, 2021	227	Oct 14, 2022	184	Jul 12, 2023	411
-15.33%	Feb 20, 2020	22	Mar 20, 2020	49	Jun 1, 2020	71
-9.38%	Jan 30, 2026	39	Mar 26, 2026	—	—	—
-8.51%	Jan 23, 2015	249	Jan 19, 2016	58	Apr 12, 2016	307
-8.36%	Jan 29, 2018	229	Dec 24, 2018	36	Feb 15, 2019	265

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 4 assets, with an effective number of assets of 3.57, 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	SHY	SGOL	SMH	ITOT	Portfolio
Benchmark	1.00	-0.14	0.05	0.77	0.99	0.77
SHY	-0.14	1.00	0.30	-0.13	-0.14	0.08
SGOL	0.05	0.30	1.00	0.04	0.05	0.57
SMH	0.77	-0.13	0.04	1.00	0.77	0.73
ITOT	0.99	-0.14	0.05	0.77	1.00	0.78
Portfolio	0.77	0.08	0.57	0.73	0.78	1.00

The correlation results are calculated based on daily price changes starting from Sep 10, 2009

golden butterfly Option 3

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