Backtest Portfolio Asset Class Allocation

This portfolio backtesting tool allows you to construct a portfolio based on the selected asset class allocation to analyze and backtest portfolio returns, risk characteristics (Sharpe ratio, Sortino ratio), standard deviation, annual returns and rolling returns. The results include a visualization of the portfolio growth chart and rolling returns, CAGR, standard deviation, annual returns and inflation adjusted returns. A periodic contribution or withdrawal can be specified together with the preferred portfolio rebalancing strategy and you can compare the given portfolio allocation against multiple lazy portfolios. You can also use the portfolio backtesting tool to build a portfolio based on specific mutual funds, ETFs and stocks.

Portfolio View

Time Period

Start Year

First Month

End Year

Last Month

Calendar Aligned

Initial Amount

$ .00

Periodic Adjustment

Contribution Amount

$ .00

Inflation Adjusted

Withdrawal percentage

Frequency

Rebalancing

Absolute Deviation

Relative Deviation

Benchmark

Benchmark Ticker

Asset Allocation

Select allocation for portfolio 1

Select allocation for portfolio 2

Select allocation for portfolio 3

US Stock Market

Enter US Stock Market allocation for portfolio 1 %

Enter US Stock Market allocation for portfolio 2 %

Enter US Stock Market allocation for portfolio 3 %

US Large Cap

Enter US Large Cap allocation for portfolio 1 %

Enter US Large Cap allocation for portfolio 2 %

Enter US Large Cap allocation for portfolio 3 %

US Large Cap Value

Enter US Large Cap Value allocation for portfolio 1 %

Enter US Large Cap Value allocation for portfolio 2 %

Enter US Large Cap Value allocation for portfolio 3 %

US Large Cap Growth

Enter US Large Cap Growth allocation for portfolio 1 %

Enter US Large Cap Growth allocation for portfolio 2 %

Enter US Large Cap Growth allocation for portfolio 3 %

US Mid Cap

Enter US Mid Cap allocation for portfolio 1 %

Enter US Mid Cap allocation for portfolio 2 %

Enter US Mid Cap allocation for portfolio 3 %

US Mid Cap Value

Enter US Mid Cap Value allocation for portfolio 1 %

Enter US Mid Cap Value allocation for portfolio 2 %

Enter US Mid Cap Value allocation for portfolio 3 %

US Mid Cap Growth

Enter US Mid Cap Growth allocation for portfolio 1 %

Enter US Mid Cap Growth allocation for portfolio 2 %

Enter US Mid Cap Growth allocation for portfolio 3 %

US Small Cap

Enter US Small Cap allocation for portfolio 1 %

Enter US Small Cap allocation for portfolio 2 %

Enter US Small Cap allocation for portfolio 3 %

US Small Cap Value

Enter US Small Cap Value allocation for portfolio 1 %

Enter US Small Cap Value allocation for portfolio 2 %

Enter US Small Cap Value allocation for portfolio 3 %

US Small Cap Growth

Enter US Small Cap Growth allocation for portfolio 1 %

Enter US Small Cap Growth allocation for portfolio 2 %

Enter US Small Cap Growth allocation for portfolio 3 %

US Micro Cap

Enter US Micro Cap allocation for portfolio 1 %

Enter US Micro Cap allocation for portfolio 2 %

Enter US Micro Cap allocation for portfolio 3 %

Global ex-US Stock Market

Enter Global ex-US Stock Market allocation for portfolio 1 %

Enter Global ex-US Stock Market allocation for portfolio 2 %

Enter Global ex-US Stock Market allocation for portfolio 3 %

Intl Developed ex-US Market

Enter Intl Developed ex-US Market allocation for portfolio 1 %

Enter Intl Developed ex-US Market allocation for portfolio 2 %

Enter Intl Developed ex-US Market allocation for portfolio 3 %

International ex-US Small Cap

Enter International ex-US Small Cap allocation for portfolio 1 %

Enter International ex-US Small Cap allocation for portfolio 2 %

Enter International ex-US Small Cap allocation for portfolio 3 %

International ex-US Value

Enter International ex-US Value allocation for portfolio 1 %

Enter International ex-US Value allocation for portfolio 2 %

Enter International ex-US Value allocation for portfolio 3 %

European Stocks

Enter European Stocks allocation for portfolio 1 %

Enter European Stocks allocation for portfolio 2 %

Enter European Stocks allocation for portfolio 3 %

Pacific Stocks

Enter Pacific Stocks allocation for portfolio 1 %

Enter Pacific Stocks allocation for portfolio 2 %

Enter Pacific Stocks allocation for portfolio 3 %

Emerging Markets

Enter Emerging Markets allocation for portfolio 1 %

Enter Emerging Markets allocation for portfolio 2 %

Enter Emerging Markets allocation for portfolio 3 %

Cash

Enter Cash allocation for portfolio 1 %

Enter Cash allocation for portfolio 2 %

Enter Cash allocation for portfolio 3 %

Short Term Treasury

Enter Short Term Treasury allocation for portfolio 1 %

Enter Short Term Treasury allocation for portfolio 2 %

Enter Short Term Treasury allocation for portfolio 3 %

Intermediate Term Treasury

Enter Intermediate Term Treasury allocation for portfolio 1 %

Enter Intermediate Term Treasury allocation for portfolio 2 %

Enter Intermediate Term Treasury allocation for portfolio 3 %

10-year Treasury

Enter 10-year Treasury allocation for portfolio 1 %

Enter 10-year Treasury allocation for portfolio 2 %

Enter 10-year Treasury allocation for portfolio 3 %

Long Term Treasury

Enter Long Term Treasury allocation for portfolio 1 %

Enter Long Term Treasury allocation for portfolio 2 %

Enter Long Term Treasury allocation for portfolio 3 %

Total US Bond Market

Enter Total US Bond Market allocation for portfolio 1 %

Enter Total US Bond Market allocation for portfolio 2 %

Enter Total US Bond Market allocation for portfolio 3 %

TIPS

Enter TIPS allocation for portfolio 1 %

Enter TIPS allocation for portfolio 2 %

Enter TIPS allocation for portfolio 3 %

Global Bonds (Unhedged)

Enter Global Bonds (Unhedged) allocation for portfolio 1 %

Enter Global Bonds (Unhedged) allocation for portfolio 2 %

Enter Global Bonds (Unhedged) allocation for portfolio 3 %

Global Bonds (USD Hedged)

Enter Global Bonds (USD Hedged) allocation for portfolio 1 %

Enter Global Bonds (USD Hedged) allocation for portfolio 2 %

Enter Global Bonds (USD Hedged) allocation for portfolio 3 %

Short-Term Investment Grade

Enter Short-Term Investment Grade allocation for portfolio 1 %

Enter Short-Term Investment Grade allocation for portfolio 2 %

Enter Short-Term Investment Grade allocation for portfolio 3 %

Corporate Bonds

Enter Corporate Bonds allocation for portfolio 1 %

Enter Corporate Bonds allocation for portfolio 2 %

Enter Corporate Bonds allocation for portfolio 3 %

Long-Term Corporate Bonds

Enter Long-Term Corporate Bonds allocation for portfolio 1 %

Enter Long-Term Corporate Bonds allocation for portfolio 2 %

Enter Long-Term Corporate Bonds allocation for portfolio 3 %

High Yield Corporate Bonds

Enter High Yield Corporate Bonds allocation for portfolio 1 %

Enter High Yield Corporate Bonds allocation for portfolio 2 %

Enter High Yield Corporate Bonds allocation for portfolio 3 %

Short-Term Tax-Exempt

Enter Short-Term Tax-Exempt allocation for portfolio 1 %

Enter Short-Term Tax-Exempt allocation for portfolio 2 %

Enter Short-Term Tax-Exempt allocation for portfolio 3 %

Intermediate-Term Tax-Exempt

Enter Intermediate-Term Tax-Exempt allocation for portfolio 1 %

Enter Intermediate-Term Tax-Exempt allocation for portfolio 2 %

Enter Intermediate-Term Tax-Exempt allocation for portfolio 3 %

Long-Term Tax-Exempt

Enter Long-Term Tax-Exempt allocation for portfolio 1 %

Enter Long-Term Tax-Exempt allocation for portfolio 2 %

Enter Long-Term Tax-Exempt allocation for portfolio 3 %

REIT

Enter REIT allocation for portfolio 1 %

Enter REIT allocation for portfolio 2 %

Enter REIT allocation for portfolio 3 %

Gold

Enter Gold allocation for portfolio 1 %

Enter Gold allocation for portfolio 2 %

Enter Gold allocation for portfolio 3 %

Precious Metals

Enter Precious Metals allocation for portfolio 1 %

Enter Precious Metals allocation for portfolio 2 %

Enter Precious Metals allocation for portfolio 3 %

Commodities

Enter Commodities allocation for portfolio 1 %

Enter Commodities allocation for portfolio 2 %

Enter Commodities allocation for portfolio 3 %

Total

Total allocation for portfolio 1 %

Total allocation for portfolio 2 %

Total allocation for portfolio 3 %

Portfolio Analysis Results (Jan 1972 - Dec 2018)

Portfolio Allocations

Portfolio 1
Asset Class	Allocation
US Small Cap Value	100.00%
Save asset allocation »

Portfolio 2
Asset Class	Allocation
US Small Cap Growth	100.00%
Save asset allocation »

Portfolio 3
Asset Class	Allocation
US Large Cap Growth	100.00%
Save asset allocation »

Portfolio Returns

Portfolio performance statistics
Portfolio	Initial Balance	Final Balance	CAGR	Stdev	Best Year	Worst Year	Max. Drawdown	Sharpe Ratio	Sortino Ratio	US Mkt Correlation
Portfolio 1	$10,000	$4,246,503	13.74%	17.79%	54.78%	-32.05%	-56.13%	0.56	0.82	0.89
Portfolio 2	$10,000	$728,306	9.55%	21.09%	56.63%	-40.26%	-64.07%	0.32	0.46	0.90
Portfolio 3	$10,000	$774,047	9.69%	16.63%	44.61%	-38.32%	-53.60%	0.37	0.54	0.96

Notes on results:

Past performance is not a guarantee of future returns and data and other errors may exist. See Disclaimer and Terms of Use
The entered time period is automatically adjusted based on the available return data for the specified assets
CAGR = Compound Annual Growth Rate
Stdev = Annualized standard deviation of monthly returns
Sharpe and Sortino ratios are calculated and annualized from monthly excess returns over risk free rate (1-month treasury bill)
Stock market correlation is based on the correlation of monthly returns
Drawdowns are calculated based on monthly returns excluding cashflows
The backtested results include annual rebalancing of portfolio assets to match the specified allocation
The results use total return and assume that all dividends and distributions are reinvested. Taxes and transaction fees are not included
Portfolio cashflows and rebalancing for quarterly and annual periods are aligned with calendar periods.

Annual returns for the configured portfolios
Year	Inflation	Return			Balance			US Small Cap Value	US Small Cap Growth	US Large Cap Growth
Year	Inflation	Portfolio 1	Portfolio 2	Portfolio 3	Portfolio 1	Portfolio 2	Portfolio 3	US Small Cap Value	US Small Cap Growth	US Large Cap Growth
1972	3.41%	11.15%	6.36%	22.97%	$11,115	$10,636	$12,297	11.15%	6.36%	22.97%
1973	8.71%	-24.12%	-40.26%	-23.09%	$8,434	$6,354	$9,458	-24.12%	-40.26%	-23.09%
1974	12.34%	-21.09%	-33.72%	-32.34%	$6,656	$4,212	$6,399	-21.09%	-33.72%	-32.34%
1975	6.94%	53.94%	56.63%	33.10%	$10,246	$6,597	$8,517	53.94%	56.63%	33.10%
1976	4.86%	54.78%	36.40%	14.85%	$15,859	$8,998	$9,781	54.78%	36.40%	14.85%
1977	6.70%	15.88%	15.36%	-8.66%	$18,377	$10,379	$8,935	15.88%	15.36%	-8.66%
1978	9.02%	19.25%	16.60%	7.11%	$21,914	$12,102	$9,570	19.25%	16.60%	7.11%
1979	13.29%	37.80%	45.21%	17.44%	$30,199	$17,573	$11,238	37.80%	45.21%	17.44%
1980	12.52%	25.77%	46.32%	35.59%	$37,981	$25,712	$15,238	25.77%	46.32%	35.59%
1981	8.92%	15.69%	-5.82%	-6.20%	$43,940	$24,216	$14,293	15.69%	-5.82%	-6.20%
1982	3.83%	36.87%	22.36%	20.33%	$60,141	$29,630	$17,198	36.87%	22.36%	20.33%
1983	3.79%	42.61%	20.54%	16.92%	$85,766	$35,717	$20,108	42.61%	20.54%	16.92%
1984	3.95%	5.69%	-13.51%	1.56%	$90,646	$30,891	$20,421	5.69%	-13.51%	1.56%
1985	3.80%	37.46%	31.17%	33.57%	$124,602	$40,519	$27,277	37.46%	31.17%	33.57%
1986	1.10%	13.99%	5.71%	16.96%	$142,032	$42,834	$31,902	13.99%	5.71%	16.96%
1987	4.43%	-3.51%	-9.10%	6.44%	$137,050	$38,936	$33,956	-3.51%	-9.10%	6.44%
1988	4.42%	29.00%	18.42%	13.21%	$176,788	$46,110	$38,442	29.00%	18.42%	13.21%
1989	4.65%	19.21%	19.62%	35.83%	$210,741	$55,159	$52,216	19.21%	19.62%	35.83%
1990	6.11%	-19.05%	-14.26%	1.54%	$170,604	$47,296	$53,020	-19.05%	-14.26%	1.54%
1991	3.06%	42.96%	49.22%	44.61%	$243,893	$70,574	$76,670	42.96%	49.22%	44.61%
1992	2.90%	28.23%	10.18%	6.61%	$312,743	$77,761	$81,741	28.23%	10.18%	6.61%
1993	2.75%	21.10%	11.25%	1.53%	$378,729	$86,511	$82,990	21.10%	11.25%	1.53%
1994	2.67%	-0.07%	-3.63%	2.89%	$378,468	$83,375	$85,388	-0.07%	-3.63%	2.89%
1995	2.54%	30.32%	30.07%	38.06%	$493,216	$108,449	$117,890	30.32%	30.07%	38.06%
1996	3.32%	21.41%	10.24%	23.74%	$598,809	$119,551	$145,876	21.41%	10.24%	23.74%
1997	1.70%	35.44%	14.37%	36.34%	$811,015	$136,736	$198,888	35.44%	14.37%	36.34%
1998	1.61%	-2.68%	3.52%	42.21%	$789,318	$141,554	$282,830	-2.68%	3.52%	42.21%
1999	2.68%	3.35%	19.80%	28.76%	$815,757	$169,582	$364,170	3.35%	19.80%	28.76%
2000	3.39%	21.88%	1.59%	-22.21%	$994,230	$172,276	$283,293	21.88%	1.59%	-22.21%
2001	1.55%	13.70%	-0.78%	-12.93%	$1,130,412	$170,940	$246,667	13.70%	-0.78%	-12.93%
2002	2.38%	-14.20%	-15.41%	-23.68%	$969,916	$144,599	$188,265	-14.20%	-15.41%	-23.68%
2003	1.88%	37.19%	42.88%	25.92%	$1,330,637	$206,605	$237,069	37.19%	42.88%	25.92%
2004	3.26%	23.55%	16.06%	7.20%	$1,644,026	$239,780	$254,138	23.55%	16.06%	7.20%
2005	3.42%	6.07%	8.64%	5.09%	$1,743,854	$260,489	$267,066	6.07%	8.64%	5.09%
2006	2.54%	19.24%	11.95%	9.01%	$2,079,438	$291,630	$291,138	19.24%	11.95%	9.01%
2007	4.08%	-7.07%	9.63%	12.56%	$1,932,371	$319,709	$327,719	-7.07%	9.63%	12.56%
2008	0.09%	-32.05%	-40.00%	-38.32%	$1,312,955	$191,825	$202,136	-32.05%	-40.00%	-38.32%
2009	2.72%	30.34%	41.85%	36.29%	$1,711,248	$272,101	$275,492	30.34%	41.85%	36.29%
2010	1.50%	24.82%	30.69%	16.96%	$2,135,946	$355,615	$322,211	24.82%	30.69%	16.96%
2011	2.96%	-4.16%	-1.58%	1.71%	$2,047,023	$350,013	$327,716	-4.16%	-1.58%	1.71%
2012	1.74%	18.56%	17.52%	16.89%	$2,427,052	$411,333	$383,054	18.56%	17.52%	16.89%
2013	1.50%	36.41%	37.98%	32.16%	$3,310,671	$567,540	$506,262	36.41%	37.98%	32.16%
2014	0.76%	10.39%	3.88%	13.47%	$3,654,657	$589,543	$574,430	10.39%	3.88%	13.47%
2015	0.73%	-4.77%	-2.64%	3.17%	$3,480,171	$573,991	$592,622	-4.77%	-2.64%	3.17%
2016	2.07%	24.65%	10.61%	5.99%	$4,337,971	$634,880	$628,149	24.65%	10.61%	5.99%
2017	2.11%	11.67%	21.78%	27.65%	$4,844,253	$773,168	$801,808	11.67%	21.78%	27.65%
2018	1.91%	-12.34%	-5.80%	-3.46%	$4,246,503	$728,306	$774,047	-12.34%	-5.80%	-3.46%

Portfolio return and risk metrics
Metric	Portfolio 1	Portfolio 2	Portfolio 3
Arithmetic Mean (monthly)	1.21%	0.95%	0.89%
Arithmetic Mean (annualized)	15.56%	12.04%	11.22%
Geometric Mean (monthly)	1.08%	0.76%	0.77%
Geometric Mean (annualized)	13.74%	9.55%	9.69%
Volatility (monthly)	5.14%	6.09%	4.80%
Volatility (annualized)	17.79%	21.09%	16.63%
Downside Deviation (monthly)	3.33%	4.07%	3.08%
Max. Drawdown	-56.13%	-64.07%	-53.60%
US Market Correlation	0.89	0.90	0.96
Beta^(*)	1.03	1.23	1.04
Alpha (annualized)	3.47%	-1.86%	-0.56%
R²	78.50%	80.37%	92.50%
Sharpe Ratio	0.56	0.32	0.37
Sortino Ratio	0.82	0.46	0.54
Treynor Ratio (%)	9.74	5.58	5.88
Calmar Ratio	0.36	0.40	0.57
Active Return	3.69%	-0.50%	-0.35%
Tracking Error	8.26%	9.99%	4.59%
Information Ratio	0.45	-0.05	-0.08
Skewness	-0.58	-0.52	-0.33
Excess Kurtosis	3.75	2.47	2.01
Historical Value-at-Risk (5%)	-7.12%	-9.07%	-7.29%
Analytical Value-at-Risk (5%)	-7.23%	-9.06%	-7.00%
Conditional Value-at-Risk (5%)	-11.79%	-13.45%	-10.49%
Upside Capture Ratio (%)	111.60	122.55	101.80
Downside Capture Ratio (%)	95.87	130.34	104.10
Safe Withdrawal Rate	7.73%	3.62%	3.42%
Perpetual Withdrawal Rate	8.63%	5.14%	5.26%
Positive Periods	366 out of 564 (64.89%)	341 out of 564 (60.46%)	333 out of 564 (59.04%)
Gain/Loss Ratio	1.02	0.98	1.12
^* US stock market is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.

Drawdowns for Historical Market Stress Periods

Drawdowns for Historical Market Stress Periods
Stress Period	Start	End	Portfolio 1	Portfolio 2	Portfolio 3
Oil Crisis	Oct 1973	Mar 1974	-15.17%	-23.01%	-17.33%
Black Monday Period	Sep 1987	Nov 1987	-29.46%	-37.41%	-31.48%
Asian Crisis	Jul 1997	Jan 1998	-3.14%	-8.89%	-6.64%
Russian Debt Default	Jul 1998	Oct 1998	-23.66%	-27.58%	-13.04%
Dotcom Crash	Mar 2000	Oct 2002	-28.62%	-32.15%	-53.58%
Subprime Crisis	Nov 2007	Mar 2009	-53.25%	-53.52%	-47.19%

Drawdowns for Portfolio 1

Drawdowns for Portfolio 1 (worst 10)
Rank	Start	End	Length	Recovery By	Recovery Time	Underwater Period	Drawdown
1	Jun 2007	Feb 2009	1 year 9 months	Feb 2011	2 years	3 years 9 months	-56.13%
2	Dec 1972	Dec 1974	2 years 1 month	Jan 1976	1 year 1 month	3 years 2 months	-41.10%
3	May 2002	Mar 2003	11 months	Dec 2003	9 months	1 year 8 months	-31.28%
4	Sep 1989	Oct 1990	1 year 2 months	May 1991	7 months	1 year 9 months	-30.82%
5	Sep 1987	Nov 1987	3 months	Jan 1989	1 year 2 months	1 year 5 months	-29.46%
6	May 1998	Aug 1998	4 months	Aug 2000	2 years	2 years 4 months	-27.15%
7	May 2011	Sep 2011	5 months	Sep 2012	1 year	1 year 5 months	-23.97%
8	Sep 2018	Dec 2018	4 months				-18.94%
9	Feb 1980	Mar 1980	2 months	Jul 1980	4 months	6 months	-18.53%
10	Sep 1978	Oct 1978	2 months	Mar 1979	5 months	7 months	-18.52%
Worst 10 drawdowns included above

Drawdowns for Portfolio 2

Drawdowns for Portfolio 2 (worst 10)
Rank	Start	End	Length	Recovery By	Recovery Time	Underwater Period	Drawdown
1	May 1972	Sep 1974	2 years 5 months	Apr 1978	3 years 7 months	6 years	-64.07%
2	Nov 2007	Feb 2009	1 year 4 months	Dec 2010	1 year 10 months	3 years 2 months	-53.52%
3	Sep 1987	Nov 1987	3 months	Aug 1989	1 year 9 months	2 years	-37.41%
4	Mar 2000	Feb 2003	3 years	Nov 2003	9 months	3 years 9 months	-32.59%
5	May 1998	Aug 1998	4 months	Dec 1999	1 year 4 months	1 year 8 months	-31.18%
6	Jul 1983	Jul 1984	1 year 1 month	Feb 1986	1 year 7 months	2 years 8 months	-30.96%
7	Jul 1990	Oct 1990	4 months	Mar 1991	5 months	9 months	-28.96%
8	Jun 1981	Jul 1982	1 year 2 months	Nov 1982	4 months	1 year 6 months	-28.72%
9	May 2011	Sep 2011	5 months	Dec 2012	1 year 3 months	1 year 8 months	-25.14%
10	Sep 1978	Oct 1978	2 months	Apr 1979	6 months	8 months	-22.67%
Worst 10 drawdowns included above

Drawdowns for Portfolio 3

Drawdowns for Portfolio 3 (worst 10)
Rank	Start	End	Length	Recovery By	Recovery Time	Underwater Period	Drawdown
1	Jan 1973	Sep 1974	1 year 9 months	Jul 1980	5 years 10 months	7 years 7 months	-53.60%
2	Apr 2000	Sep 2002	2 years 6 months	Aug 2012	9 years 11 months	12 years 5 months	-53.58%
3	Sep 1987	Nov 1987	3 months	May 1989	1 year 6 months	1 year 9 months	-31.48%
4	Dec 1980	Jul 1982	1 year 8 months	Oct 1982	3 months	1 year 11 months	-19.54%
5	Oct 2018	Dec 2018	3 months				-16.34%
6	Jul 1990	Sep 1990	3 months	Feb 1991	5 months	8 months	-15.81%
7	Jul 1983	May 1984	11 months	Jan 1985	8 months	1 year 7 months	-15.00%
8	Aug 1998	Aug 1998	1 month	Oct 1998	2 months	3 months	-13.04%
9	Jul 1986	Sep 1986	3 months	Jan 1987	4 months	7 months	-11.66%
10	Aug 2015	Feb 2016	7 months	Jul 2016	5 months	1 year	-9.21%
Worst 10 drawdowns included above

Portfolio Assets

Performance statistics for portfolio components
Name	CAGR	Stdev	Best Year	Worst Year	Max. Drawdown	Sharpe Ratio	Sortino Ratio	US Mkt Correlation
US Small Cap Value	13.74%	17.79%	54.78%	-32.05%	-56.13%	0.56	0.82	0.89
US Small Cap Growth	9.55%	21.09%	56.63%	-40.26%	-64.07%	0.32	0.46	0.90
US Large Cap Growth	9.69%	16.63%	44.61%	-38.32%	-53.60%	0.37	0.54	0.96

Monthly Correlations

Correlations for the portfolio assets
Name	US Small Cap Value	US Small Cap Growth	US Large Cap Growth	Portfolio 1	Portfolio 2	Portfolio 3
US Small Cap Value	-	0.91	0.78	1.00	0.91	0.78
US Small Cap Growth	0.91	-	0.84	0.91	1.00	0.84
US Large Cap Growth	0.78	0.84	-	0.78	0.84	1.00

Portfolio Return Decomposition

Portfolio return decomposition
Name	Portfolio 1	Portfolio 2	Portfolio 3
US Small Cap Value	$4,236,503
US Small Cap Growth		$718,306
US Large Cap Growth			$764,047

Portfolio Risk Decomposition

Portfolio risk decomposition
Name	Portfolio 1	Portfolio 2	Portfolio 3
US Small Cap Value	100.00%
US Small Cap Growth		100.00%
US Large Cap Growth			100.00%

Annual Asset Returns

Rolling returns summary
Roll Period	Portfolio 1			Portfolio 2			Portfolio 3
Roll Period	Average	High	Low	Average	High	Low	Average	High	Low
1 year	15.64%	54.78%	-32.05%	11.87%	56.63%	-40.26%	11.60%	44.61%	-38.32%
3 years	15.10%	40.29%	-12.69%	10.84%	35.31%	-25.04%	10.52%	35.66%	-19.74%
5 years	15.55%	35.32%	-0.31%	11.34%	33.07%	-2.09%	10.86%	33.65%	-6.94%
7 years	15.46%	30.95%	2.16%	11.31%	28.39%	1.66%	10.92%	23.79%	-3.15%
10 years	15.23%	29.84%	5.22%	10.91%	22.05%	3.09%	10.96%	22.09%	-3.30%
15 years	15.04%	25.90%	7.58%	10.57%	18.71%	5.45%	11.18%	21.18%	3.09%
Result statistics are based on annualized rolling returns over full calendar year periods