A & D Optimized

Asset Allocation

Position	Category/Sector	Target Weight
AIR AAR Corp.	Industrials	3.47%
ATRO Astronics Corporation	Industrials	8.40%
AXON Axon Enterprise, Inc.	Industrials	12.80%
BWXT BWX Technologies, Inc.	Industrials	9.92%
CW Curtiss-Wright Corporation	Industrials	8.56%
DCO Ducommun Incorporated	Industrials	1.29%
GD General Dynamics Corporation		0.10%
GE General Electric Company	Industrials	2.22%
HEI HEICO Corporation	Industrials	5.38%
HWM Howmet Aerospace Inc.	Industrials	15.12%
KTOS Kratos Defense & Security Solutions, Inc.	Industrials	6.52%
LHX L3Harris Technologies, Inc.	Industrials	2.03%
SPR Spirit AeroSystems Holdings, Inc.	Industrials	1.92%
TDG TransDigm Group Incorporated	Industrials	8.57%
TGI Triumph Group, Inc.	Industrials	5.21%
TXT Textron Inc.	Industrials	0.52%
WWD Woodward, Inc.	Industrials	7.97%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in A & D Optimized, 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.

Loading graphics...

The earliest data available for this chart is Aug 2, 2010, corresponding to the inception date of BWXT

Returns By Period

As of Apr 9, 2026, the A & D Optimized returned 11.23% Year-To-Date and 28.83% of annualized return in the last 10 years.

	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	2.51%	0.02%	-0.92%	0.71%	24.30%	18.22%	10.44%	12.72%
Portfolio A & D Optimized	4.65%	-2.61%	11.23%	10.36%	73.40%	56.39%	32.74%	28.83%
Portfolio components:
ATRO Astronics Corporation	1.42%	-2.00%	34.31%	53.56%	239.94%	74.25%	31.74%	8.72%
TGI Triumph Group, Inc.	—	—	—	—	—	—	—	—
BWXT BWX Technologies, Inc.	8.09%	15.82%	34.29%	17.98%	150.40%	56.44%	29.57%	23.17%
WWD Woodward, Inc.	5.28%	2.71%	30.75%	57.22%	151.86%	62.72%	27.13%	23.43%
DCO Ducommun Incorporated	2.78%	5.07%	45.21%	41.74%	158.21%	38.32%	16.62%	25.38%
CW Curtiss-Wright Corporation	4.15%	3.22%	32.28%	30.98%	149.45%	61.86%	42.85%	26.09%
AXON Axon Enterprise, Inc.	5.00%	-29.97%	-31.06%	-46.17%	-22.32%	21.24%	21.25%	35.84%
SPR Spirit AeroSystems Holdings, Inc.	—	—	—	—	—	—	—	—
TXT Textron Inc.	4.21%	-2.92%	4.84%	6.02%	50.10%	10.62%	9.56%	9.74%
HWM Howmet Aerospace Inc.	5.92%	-1.63%	22.01%	30.60%	118.65%	82.43%	51.07%	32.17%

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

Monthly Returns

Based on dividend-adjusted daily data since Aug 3, 2010, A & D Optimized's average daily return is +0.10%, while the average monthly return is +2.08%. At this rate, your investment would double in approximately 2.8 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +35.8%, while the worst month was Mar 2020 at -31.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, A & D Optimized closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +12.2%, while the worst single day was Mar 16, 2020 at -14.9%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	10.23%	6.56%	-10.60%	5.92%									11.23%
2025	8.71%	-0.68%	0.70%	5.43%	18.19%	10.40%	3.03%	-0.51%	11.04%	3.74%	-4.31%	0.27%	69.44%
2024	-0.20%	11.87%	3.52%	-1.24%	9.41%	-2.23%	7.25%	4.33%	2.15%	-0.02%	16.47%	-6.86%	51.38%
2023	12.10%	2.85%	0.88%	-0.29%	-2.08%	13.85%	1.53%	-0.01%	-5.89%	0.84%	13.17%	8.43%	52.85%
2022	-4.30%	14.41%	-0.87%	-11.37%	-2.65%	-7.12%	12.51%	-5.26%	-11.07%	15.91%	7.18%	-0.57%	1.85%
2021	-4.20%	10.05%	5.96%	1.95%	0.96%	2.43%	-1.88%	-4.14%	-1.49%	0.41%	-8.44%	6.00%	6.34%

Benchmark Metrics

A & D Optimized has an annualized alpha of 10.50%, beta of 1.20, and R² of 0.61 versus S&P 500 Index. Calculated based on daily prices since August 03, 2010.

This portfolio captured 138.99% of S&P 500 Index gains but only 84.19% of its losses — a favorable profile for investors.
This portfolio generated an annualized alpha of 10.50% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.

Alpha: 10.50%

Beta: 1.20

R²: 0.61

Upside Capture: 138.99%

Downside Capture: 84.19%

Expense Ratio

A & D Optimized 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

A & D Optimized ranks 77 for risk / return — better than 77% 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	3.42	2.19	+1.24
Sortino ratio Return per unit of downside risk	4.26	3.49	+0.77
Omega ratio Gain probability vs. loss probability	1.53	1.48	+0.05
Calmar ratio Return relative to maximum drawdown	5.46	3.70	+1.76
Martin ratio Return relative to average drawdown	20.07	16.45	+3.63
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
ATRO Astronics Corporation	96	4.38	4.33	1.59	9.68	34.29
TGI Triumph Group, Inc.	—	—	—	—	—	—
BWXT BWX Technologies, Inc.	94	3.33	3.74	1.54	7.34	19.26
WWD Woodward, Inc.	98	4.35	5.61	1.71	10.04	32.12
DCO Ducommun Incorporated	97	4.73	4.85	1.68	9.65	29.72
CW Curtiss-Wright Corporation	97	4.51	4.72	1.66	12.17	36.76
AXON Axon Enterprise, Inc.	20	-0.42	-0.31	0.96	-0.37	-0.78
SPR Spirit AeroSystems Holdings, Inc.	—	—	—	—	—	—
TXT Textron Inc.	80	1.90	2.55	1.35	3.45	8.72
HWM Howmet Aerospace Inc.	96	3.74	4.62	1.59	7.75	24.82

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.

A & D Optimized Sharpe ratios as of Apr 9, 2026 (values are recalculated daily):

1-Year: 3.42
5-Year: 1.34
10-Year: 1.03
All Time: 0.93

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 2.13 to 2.99, 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 A & D Optimized compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading graphics...

Dividends

Dividend yield

A & D Optimized provided a 0.78% dividend yield over the last twelve months.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.78%	0.76%	0.76%	0.60%	0.61%	0.34%	0.31%	1.40%	0.76%	1.19%	7.32%	3.52%
Portfolio components:
ATRO Astronics Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TGI Triumph Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.63%	1.39%	0.59%	0.60%	0.40%
BWXT BWX Technologies, Inc.	0.44%	0.58%	0.86%	1.20%	1.52%	1.75%	1.26%	1.10%	1.67%	0.69%	0.91%	30.37%
WWD Woodward, Inc.	0.29%	0.37%	0.60%	0.65%	0.79%	0.59%	0.43%	0.55%	0.77%	0.65%	0.64%	0.81%
DCO Ducommun Incorporated	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CW Curtiss-Wright Corporation	0.13%	0.17%	0.23%	0.35%	0.45%	0.51%	0.58%	0.47%	0.59%	0.46%	0.53%	0.76%
AXON Axon Enterprise, 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%
SPR Spirit AeroSystems Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.10%	0.09%	0.10%	0.49%	0.64%	0.46%	0.17%	0.00%
TXT Textron Inc.	0.09%	0.09%	0.10%	0.10%	0.47%	0.10%	0.17%	0.18%	0.17%	0.14%	0.16%	0.19%
HWM Howmet Aerospace Inc.	0.18%	0.21%	0.24%	0.31%	0.25%	0.13%	0.05%	0.39%	1.42%	0.88%	40.49%	1.22%

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.

Loading graphics...

Worst Drawdowns

The table below displays the maximum drawdowns of the A & D Optimized. 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 A & D Optimized was 52.19%, occurring on Mar 18, 2020. Recovery took 182 trading sessions.

The current A & D Optimized drawdown is 7.95%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-52.19%	Feb 20, 2020	20	Mar 18, 2020	182	Dec 4, 2020	202
-33.29%	Jun 24, 2015	161	Feb 11, 2016	128	Aug 15, 2016	289
-29.15%	Sep 19, 2018	67	Dec 24, 2018	89	May 3, 2019	156
-26.76%	Jun 15, 2021	328	Sep 30, 2022	80	Jan 26, 2023	408
-26.27%	Jul 8, 2011	61	Oct 3, 2011	88	Feb 8, 2012	149

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading graphics...

Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 17 assets, with an effective number of assets of 11.15, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

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	AXON	KTOS	DCO	LHX	ATRO	BWXT	GE	SPR	TGI	TDG	GD	HEI	HWM	AIR	TXT	WWD	CW	Portfolio
Benchmark	1.00	0.45	0.45	0.45	0.50	0.47	0.52	0.57	0.50	0.48	0.57	0.57	0.55	0.59	0.56	0.66	0.64	0.62	0.72
AXON	0.45	1.00	0.34	0.30	0.26	0.31	0.31	0.30	0.29	0.29	0.34	0.29	0.37	0.35	0.33	0.34	0.36	0.37	0.62
KTOS	0.45	0.34	1.00	0.41	0.39	0.40	0.40	0.34	0.38	0.39	0.38	0.40	0.43	0.42	0.44	0.43	0.44	0.47	0.63
DCO	0.45	0.30	0.41	1.00	0.36	0.44	0.37	0.37	0.40	0.44	0.38	0.40	0.46	0.43	0.49	0.46	0.48	0.49	0.58
LHX	0.50	0.26	0.39	0.36	1.00	0.36	0.45	0.35	0.38	0.37	0.43	0.60	0.48	0.43	0.43	0.49	0.46	0.53	0.56
ATRO	0.47	0.31	0.40	0.44	0.36	1.00	0.38	0.39	0.43	0.46	0.42	0.39	0.47	0.44	0.50	0.48	0.50	0.50	0.67
BWXT	0.52	0.31	0.40	0.37	0.45	0.38	1.00	0.41	0.40	0.39	0.41	0.46	0.46	0.46	0.45	0.47	0.50	0.56	0.64
GE	0.57	0.30	0.34	0.37	0.35	0.39	0.41	1.00	0.44	0.43	0.44	0.44	0.42	0.52	0.45	0.52	0.53	0.50	0.60
SPR	0.50	0.29	0.38	0.40	0.38	0.43	0.40	0.44	1.00	0.55	0.48	0.47	0.45	0.49	0.51	0.53	0.50	0.51	0.62
TGI	0.48	0.29	0.39	0.44	0.37	0.46	0.39	0.43	0.55	1.00	0.49	0.43	0.45	0.48	0.53	0.51	0.52	0.51	0.66
TDG	0.57	0.34	0.38	0.38	0.43	0.42	0.41	0.44	0.48	0.49	1.00	0.50	0.55	0.50	0.48	0.54	0.53	0.52	0.66
GD	0.57	0.29	0.40	0.40	0.60	0.39	0.46	0.44	0.47	0.43	0.50	1.00	0.50	0.47	0.49	0.61	0.51	0.58	0.60
HEI	0.55	0.37	0.43	0.46	0.48	0.47	0.46	0.42	0.45	0.45	0.55	0.50	1.00	0.48	0.56	0.53	0.58	0.59	0.69
HWM	0.59	0.35	0.42	0.43	0.43	0.44	0.46	0.52	0.49	0.48	0.50	0.47	0.48	1.00	0.53	0.56	0.59	0.56	0.76
AIR	0.56	0.33	0.44	0.49	0.43	0.50	0.45	0.45	0.51	0.53	0.48	0.49	0.56	0.53	1.00	0.57	0.58	0.60	0.70
TXT	0.66	0.34	0.43	0.46	0.49	0.48	0.47	0.52	0.53	0.51	0.54	0.61	0.53	0.56	0.57	1.00	0.60	0.60	0.69
WWD	0.64	0.36	0.44	0.48	0.46	0.50	0.50	0.53	0.50	0.52	0.53	0.51	0.58	0.59	0.58	0.60	1.00	0.63	0.75
CW	0.62	0.37	0.47	0.49	0.53	0.50	0.56	0.50	0.51	0.51	0.52	0.58	0.59	0.56	0.60	0.60	0.63	1.00	0.75
Portfolio	0.72	0.62	0.63	0.58	0.56	0.67	0.64	0.60	0.62	0.66	0.66	0.60	0.69	0.76	0.70	0.69	0.75	0.75	1.00

The correlation results are calculated based on daily price changes starting from Aug 3, 2010

A & D Optimized

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