Backtest Portfolio Asset Allocation

This portfolio backtesting tool allows you to construct one or more portfolios based on the selected mutual funds, ETFs, and stocks. You can analyze and backtest portfolio returns, risk characteristics, style exposures, and drawdowns. The results cover both returns and fund fundamentals based portfolio style analysis along with risk and return decomposition by each portfolio asset. You can compare up to three different portfolios against the selected benchmark, and you can also specify any periodic contribution or withdrawal cashflows and the preferred portfolio rebalancing strategy.

The related asset class level portfolio modeling tool allows you to analyze and compare asset class level portfolios with a longer time horizon starting from 1972.

Time Period

Start Year

First Month

End Year

Last Month

Calendar Aligned

Include YTD

Start Date

End Date

Initial Amount

$ .00

Cashflows

Contribution Amount

$ .00

Inflation Adjusted

Withdrawal Percentage

Frequency

Rebalancing

Absolute Deviation

Relative Deviation

Reinvest Dividends

Display Income

Factor Regression

Equity Factor Model

Benchmark

Benchmark Ticker

Portfolio Names

Portfolio Name #1

Portfolio Name #2

Portfolio Name #3

Portfolio Assets

Portfolio #1

Portfolio #2

Portfolio #3

Asset 1

Select asset 1

Enter percentage allocation for asset 1 in portfolio 1 %

Enter percentage allocation for asset 1 in portfolio 2 %

Enter percentage allocation for asset 1 in portfolio 3 %

Asset 2

Select asset 2

Enter percentage allocation for asset 2 in portfolio 1 %

Enter percentage allocation for asset 2 in portfolio 2 %

Enter percentage allocation for asset 2 in portfolio 3 %

Asset 3

Select asset 3

Enter percentage allocation for asset 3 in portfolio 1 %

Enter percentage allocation for asset 3 in portfolio 2 %

Enter percentage allocation for asset 3 in portfolio 3 %

Asset 4

Select asset 4

Enter percentage allocation for asset 4 in portfolio 1 %

Enter percentage allocation for asset 4 in portfolio 2 %

Enter percentage allocation for asset 4 in portfolio 3 %

Asset 5

Select asset 5

Enter percentage allocation for asset 5 in portfolio 1 %

Enter percentage allocation for asset 5 in portfolio 2 %

Enter percentage allocation for asset 5 in portfolio 3 %

Asset 6

Select asset 6

Enter percentage allocation for asset 6 in portfolio 1 %

Enter percentage allocation for asset 6 in portfolio 2 %

Enter percentage allocation for asset 6 in portfolio 3 %

Asset 7

Select asset 7

Enter percentage allocation for asset 7 in portfolio 1 %

Enter percentage allocation for asset 7 in portfolio 2 %

Enter percentage allocation for asset 7 in portfolio 3 %

Asset 8

Select asset 8

Enter percentage allocation for asset 8 in portfolio 1 %

Enter percentage allocation for asset 8 in portfolio 2 %

Enter percentage allocation for asset 8 in portfolio 3 %

Asset 9

Select asset 9

Enter percentage allocation for asset 9 in portfolio 1 %

Enter percentage allocation for asset 9 in portfolio 2 %

Enter percentage allocation for asset 9 in portfolio 3 %

Asset 10

Select asset 10

Enter percentage allocation for asset 10 in portfolio 1 %

Enter percentage allocation for asset 10 in portfolio 2 %

Enter percentage allocation for asset 10 in portfolio 3 %

Total

Total allocation for portfolio 1 %

Total allocation for portfolio 2 %

Total allocation for portfolio 3 %

Portfolio Analysis Results (Jan 1992 - May 2021)

Note: The time period was constrained by the available data for Vanguard Interm-Term Treasury Inv (VFITX) [Nov 1991 - May 2021].

Portfolio Allocations

Portfolio 1
Ticker	Name	Allocation
VFINX	Vanguard 500 Index Investor	90.00%
VFITX	Vanguard Interm-Term Treasury Inv	60.00%
CASHX	Cash	-50.00%
Save portfolio »

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	$247,498	11.53%	12.80%	44.48%	-28.77%	-42.87%	0.74	1.13	0.96
Vanguard 500 Index Investor	$10,000	$176,569	10.25%	14.46%	37.45%	-37.02%	-50.97%	0.59	0.86	0.99

Trailing Returns

Trailing Returns
Name	Annualized Return							Annualized Volatility
Name	3 Month	YTD	1 year	3 year	5 year	10 year	Full	3 year	5 year
Portfolio 1	9.89%	10.44%	34.97%	19.09%	16.65%	14.48%	11.53%	15.89%	12.90%
Vanguard 500 Index Investor	10.68%	12.57%	40.15%	17.85%	17.01%	14.22%	10.25%	18.53%	14.99%
Trailing annualized return and volatility are for full months ending in May 2021 excluding portfolio cashflows.

Notes on results:

Past performance is no guarantee of future results, which may vary. All use is subject to terms of service.
Investing involves risk, including possible loss of principal. The value of the investments and the income derived from them may fluctuate over time.
All portfolio returns presented are hypothetical and backtested. Hypothetical returns do not reflect trading costs, transaction fees, or taxes.
The results are based on information from a variety of sources we consider reliable, but we do not represent that the information is accurate or complete.
The results do not constitute investment advice or recommendation, are provided solely for informational purposes, and are not an offer to buy or sell any securities.
The results are based on the total return of assets and assume that all received dividends and distributions are reinvested.
The annual results for 2021 are based on monthly returns from January to May
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 (3-month treasury bill)
Stock market correlation is based on the correlation of monthly returns
Drawdown analysis is calculated based on monthly returns excluding cashflows
The results assume bands based (5.00% corridor) rebalancing of portfolio assets to match the specified allocation

Annual returns for the configured portfolios
Year	Inflation	Portfolio 1		Vanguard 500 Index Investor		Vanguard 500 Index Investor (VFINX)	Vanguard Interm-Term Treasury Inv (VFITX)	Cash (CASHX)
Year	Inflation	Return	Balance	Return	Balance	Vanguard 500 Index Investor (VFINX)	Vanguard Interm-Term Treasury Inv (VFITX)	Cash (CASHX)
1992	2.90%	9.49%	$10,949	7.42%	$10,742	7.42%	7.78%	3.57%
1993	2.75%	14.17%	$12,501	9.89%	$11,805	9.89%	11.43%	3.05%
1994	2.67%	-3.60%	$12,051	1.18%	$11,944	1.18%	-4.33%	4.20%
1995	2.54%	44.48%	$17,411	37.45%	$16,416	37.45%	20.44%	5.71%
1996	3.32%	18.72%	$20,671	22.88%	$20,172	22.88%	1.92%	5.17%
1997	1.70%	32.86%	$27,464	33.19%	$26,867	33.19%	8.96%	5.22%
1998	1.61%	30.42%	$35,820	28.62%	$34,555	28.62%	10.61%	4.97%
1999	2.68%	13.99%	$40,833	21.07%	$41,836	21.07%	-3.52%	4.77%
2000	3.39%	-3.32%	$39,477	-9.06%	$38,047	-9.06%	14.03%	5.99%
2001	1.55%	-7.69%	$36,441	-12.02%	$33,473	-12.02%	7.55%	3.70%
2002	2.38%	-13.07%	$31,677	-22.15%	$26,060	-22.15%	14.15%	1.65%
2003	1.88%	26.45%	$40,055	28.50%	$33,488	28.50%	2.37%	1.04%
2004	3.26%	11.03%	$44,473	10.74%	$37,084	10.74%	3.40%	1.32%
2005	3.42%	4.11%	$46,299	4.77%	$38,855	4.77%	2.32%	3.14%
2006	2.54%	13.45%	$52,525	15.64%	$44,932	15.64%	3.14%	4.82%
2007	4.08%	8.61%	$57,047	5.39%	$47,353	5.39%	9.98%	4.56%
2008	0.09%	-28.77%	$40,633	-37.02%	$29,822	-37.02%	13.32%	1.53%
2009	2.72%	22.54%	$49,793	26.49%	$37,721	26.49%	-1.69%	0.16%
2010	1.50%	18.00%	$58,756	14.91%	$43,347	14.91%	7.35%	0.14%
2011	2.96%	8.44%	$63,713	1.97%	$44,199	1.97%	9.80%	0.07%
2012	1.74%	15.91%	$73,850	15.82%	$51,193	15.82%	2.67%	0.08%
2013	1.50%	26.28%	$93,259	32.18%	$67,665	32.18%	-3.09%	0.05%
2014	0.76%	14.82%	$107,077	13.51%	$76,806	13.51%	4.32%	0.03%
2015	0.73%	1.96%	$109,176	1.25%	$77,764	1.25%	1.50%	0.05%
2016	2.07%	11.16%	$121,363	11.82%	$86,954	11.82%	1.19%	0.30%
2017	2.11%	19.91%	$145,524	21.67%	$105,795	21.67%	1.57%	0.88%
2018	1.91%	-4.10%	$139,565	-4.52%	$101,008	-4.52%	1.00%	1.90%
2019	2.29%	31.07%	$182,926	31.33%	$132,651	31.33%	6.29%	2.13%
2020	1.36%	22.51%	$224,102	18.25%	$156,857	18.25%	8.21%	0.44%
2021	3.35%	10.44%	$247,498	12.57%	$176,569	12.57%	-1.44%	0.02%
Annual return for 2021 is from 01/01/2021 to 05/31/2021

Monthly returns for the configured portfolios
Year	Month	Portfolio 1		Vanguard 500 Index Investor		Vanguard 500 Index Investor (VFINX)	Vanguard Interm-Term Treasury Inv (VFITX)	Cash (CASHX)
Year	Month	Return	Balance	Return	Balance	Vanguard 500 Index Investor (VFINX)	Vanguard Interm-Term Treasury Inv (VFITX)	Cash (CASHX)
1992	1	-3.15%	$9,685	-1.88%	$9,812	-1.88%	-2.15%	0.33%
1992	2	1.28%	$9,809	1.24%	$9,934	1.24%	0.52%	0.32%
1992	3	-2.47%	$9,567	-1.93%	$9,743	-1.93%	-0.91%	0.33%
1992	4	2.83%	$9,838	2.91%	$10,026	2.91%	0.57%	0.34%
1992	5	1.58%	$9,993	0.48%	$10,075	0.48%	2.18%	0.31%
1992	6	-0.41%	$9,952	-1.49%	$9,925	-1.49%	1.82%	0.31%
1992	7	5.33%	$10,483	4.04%	$10,326	4.04%	3.07%	0.30%
1992	8	-1.23%	$10,354	-2.07%	$10,113	-2.07%	1.20%	0.27%
1992	9	1.95%	$10,556	1.17%	$10,231	1.17%	1.73%	0.26%
1992	10	-0.87%	$10,465	0.33%	$10,265	0.33%	-1.71%	0.23%
1992	11	2.58%	$10,735	3.40%	$10,614	3.40%	-0.46%	0.25%
1992	12	1.99%	$10,949	1.21%	$10,742	1.21%	1.80%	0.27%
1993	1	2.17%	$11,187	0.81%	$10,829	0.81%	2.72%	0.26%
1993	2	2.62%	$11,480	1.36%	$10,976	1.36%	2.53%	0.24%
1993	3	1.99%	$11,708	2.11%	$11,207	2.11%	0.40%	0.25%
1993	4	-1.72%	$11,507	-2.42%	$10,935	-2.42%	0.93%	0.24%
1993	5	2.13%	$11,752	2.65%	$11,225	2.65%	-0.15%	0.24%
1993	6	1.41%	$11,918	0.27%	$11,255	0.27%	2.20%	0.26%
1993	7	-0.48%	$11,861	-0.42%	$11,208	-0.42%	0.02%	0.25%
1993	8	4.49%	$12,394	3.79%	$11,632	3.79%	2.18%	0.25%
1993	9	-0.44%	$12,339	-0.79%	$11,540	-0.79%	0.62%	0.25%
1993	10	1.74%	$12,554	2.08%	$11,779	2.08%	0.09%	0.24%
1993	11	-1.72%	$12,339	-1.00%	$11,662	-1.00%	-1.16%	0.25%
1993	12	1.31%	$12,501	1.22%	$11,805	1.22%	0.56%	0.26%
1994	1	3.81%	$12,977	3.38%	$12,204	3.38%	1.49%	0.25%
1994	2	-4.00%	$12,458	-2.71%	$11,872	-2.71%	-2.46%	0.25%
1994	3	-5.69%	$11,749	-4.39%	$11,351	-4.39%	-2.62%	0.28%
1994	4	0.47%	$11,805	1.29%	$11,498	1.29%	-0.92%	0.29%
1994	5	1.45%	$11,975	1.63%	$11,685	1.63%	0.18%	0.32%
1994	6	-2.68%	$11,655	-2.47%	$11,396	-2.47%	-0.33%	0.35%
1994	7	3.90%	$12,109	3.28%	$11,770	3.28%	1.70%	0.35%
1994	8	3.76%	$12,564	4.08%	$12,249	4.08%	0.30%	0.36%
1994	9	-3.48%	$12,127	-2.45%	$11,950	-2.45%	-1.79%	0.38%
1994	10	1.74%	$12,338	2.25%	$12,218	2.25%	-0.26%	0.39%
1994	11	-3.86%	$11,862	-3.65%	$11,772	-3.65%	-0.38%	0.42%
1994	12	1.59%	$12,051	1.46%	$11,944	1.46%	0.79%	0.47%
1995	1	3.31%	$12,450	2.58%	$12,252	2.58%	1.94%	0.47%
1995	2	4.84%	$13,052	3.88%	$12,728	3.88%	2.58%	0.49%
1995	3	2.80%	$13,418	2.95%	$13,104	2.95%	0.57%	0.48%
1995	4	3.33%	$13,865	2.94%	$13,489	2.94%	1.56%	0.48%
1995	5	6.16%	$14,719	3.95%	$14,022	3.95%	4.74%	0.48%
1995	6	2.29%	$15,056	2.31%	$14,346	2.31%	0.81%	0.47%
1995	7	2.34%	$15,409	3.30%	$14,820	3.30%	-0.61%	0.46%
1995	8	0.78%	$15,529	0.25%	$14,857	0.25%	1.31%	0.46%
1995	9	4.10%	$16,166	4.23%	$15,486	4.23%	0.90%	0.44%
1995	10	0.49%	$16,246	-0.36%	$15,429	-0.36%	1.76%	0.44%
1995	11	4.74%	$17,015	4.38%	$16,105	4.38%	1.82%	0.45%
1995	12	2.32%	$17,411	1.93%	$16,416	1.93%	1.44%	0.45%
1996	1	3.25%	$17,977	3.39%	$16,972	3.39%	0.69%	0.42%
1996	2	-0.76%	$17,841	0.92%	$17,129	0.92%	-2.38%	0.41%
1996	3	0.07%	$17,853	0.98%	$17,296	0.98%	-1.09%	0.41%
1996	4	0.55%	$17,951	1.46%	$17,548	1.46%	-1.03%	0.42%
1996	5	1.91%	$18,295	2.54%	$17,994	2.54%	-0.44%	0.42%
1996	6	1.04%	$18,485	0.38%	$18,063	0.38%	1.51%	0.42%
1996	7	-4.07%	$17,732	-4.42%	$17,265	-4.42%	0.14%	0.42%
1996	8	1.42%	$17,984	2.10%	$17,627	2.10%	-0.35%	0.44%
1996	9	5.96%	$19,056	5.61%	$18,615	5.61%	1.91%	0.43%
1996	10	3.72%	$19,764	2.76%	$19,128	2.76%	2.48%	0.41%
1996	11	7.65%	$21,275	7.56%	$20,575	7.56%	2.04%	0.42%
1996	12	-2.84%	$20,671	-1.96%	$20,172	-1.96%	-1.45%	0.42%
1997	1	5.45%	$21,798	6.22%	$21,426	6.22%	0.06%	0.43%
1997	2	0.57%	$21,922	0.79%	$21,595	0.79%	0.10%	0.42%
1997	3	-4.73%	$20,885	-4.14%	$20,702	-4.14%	-1.30%	0.43%
1997	4	6.19%	$22,179	5.96%	$21,935	5.96%	1.61%	0.44%
1997	5	5.83%	$23,472	6.09%	$23,270	6.09%	0.83%	0.43%
1997	6	4.41%	$24,507	4.45%	$24,307	4.45%	1.00%	0.40%
1997	7	8.61%	$26,617	7.97%	$26,243	7.97%	2.85%	0.43%
1997	8	-5.86%	$25,057	-5.61%	$24,771	-5.61%	-0.99%	0.43%
1997	9	5.62%	$26,467	5.47%	$26,125	5.47%	1.47%	0.43%
1997	10	-2.21%	$25,881	-3.35%	$25,250	-3.35%	1.66%	0.41%
1997	11	4.06%	$26,930	4.60%	$26,411	4.60%	0.31%	0.43%
1997	12	1.98%	$27,464	1.72%	$26,867	1.72%	1.09%	0.43%
1998	1	1.80%	$27,959	1.11%	$27,165	1.11%	1.73%	0.44%
1998	2	5.89%	$29,607	7.19%	$29,119	7.19%	-0.38%	0.43%
1998	3	4.46%	$30,927	5.10%	$30,605	5.10%	0.14%	0.44%
1998	4	0.99%	$31,233	1.01%	$30,914	1.01%	0.49%	0.42%
1998	5	-1.21%	$30,855	-1.74%	$30,375	-1.74%	0.98%	0.41%
1998	6	4.01%	$32,093	4.07%	$31,611	4.07%	0.95%	0.41%
1998	7	-1.01%	$31,767	-1.05%	$31,278	-1.05%	0.22%	0.42%
1998	8	-11.32%	$28,170	-14.47%	$26,751	-14.47%	3.20%	0.42%
1998	9	7.75%	$30,355	6.41%	$28,466	6.41%	3.64%	0.40%
1998	10	6.64%	$32,370	8.16%	$30,790	8.16%	-0.77%	0.36%
1998	11	5.08%	$34,014	6.07%	$32,660	6.07%	-0.35%	0.36%
1998	12	5.31%	$35,820	5.81%	$34,555	5.81%	0.38%	0.37%
1999	1	3.99%	$37,250	4.20%	$36,008	4.20%	0.65%	0.37%
1999	2	-4.77%	$35,473	-3.12%	$34,883	-3.12%	-3.07%	0.37%
1999	3	3.81%	$36,824	4.00%	$36,277	4.00%	0.58%	0.38%
1999	4	3.51%	$38,117	3.85%	$37,674	3.85%	0.28%	0.37%
1999	5	-3.12%	$36,927	-2.39%	$36,774	-2.39%	-1.37%	0.37%
1999	6	4.80%	$38,698	5.56%	$38,818	5.56%	-0.26%	0.38%
1999	7	-3.28%	$37,428	-3.13%	$37,603	-3.13%	-0.45%	0.39%
1999	8	-0.69%	$37,169	-0.50%	$37,416	-0.50%	-0.07%	0.39%
1999	9	-2.01%	$36,422	-2.74%	$36,391	-2.74%	1.08%	0.41%
1999	10	5.52%	$38,432	6.33%	$38,693	6.33%	0.12%	0.40%
1999	11	1.56%	$39,031	2.02%	$39,476	2.02%	-0.08%	0.42%
1999	12	4.62%	$40,833	5.98%	$41,836	5.98%	-0.94%	0.43%
2000	1	-5.05%	$38,770	-5.03%	$39,731	-5.03%	-0.46%	0.43%
2000	2	-1.38%	$38,235	-1.91%	$38,973	-1.91%	1.00%	0.47%
2000	3	9.81%	$41,984	9.75%	$42,774	9.75%	2.04%	0.47%
2000	4	-3.07%	$40,695	-3.00%	$41,491	-3.00%	-0.26%	0.48%
2000	5	-1.97%	$39,892	-2.04%	$40,645	-2.04%	0.16%	0.48%
2000	6	3.31%	$41,212	2.49%	$41,659	2.49%	2.20%	0.46%
2000	7	-1.20%	$40,717	-1.50%	$41,035	-1.50%	0.62%	0.48%
2000	8	6.20%	$43,242	6.19%	$43,575	6.19%	1.62%	0.51%
2000	9	-4.48%	$41,304	-5.29%	$41,270	-5.29%	0.89%	0.52%
2000	10	-0.08%	$41,271	-0.43%	$41,093	-0.43%	0.90%	0.51%
2000	11	-5.89%	$38,839	-7.89%	$37,853	-7.89%	2.14%	0.52%
2000	12	1.64%	$39,477	0.51%	$38,047	0.51%	2.39%	0.51%
2001	1	3.71%	$40,943	3.55%	$39,396	3.55%	1.33%	0.48%
2001	2	-7.54%	$37,854	-9.14%	$35,796	-9.14%	1.26%	0.41%
2001	3	-5.40%	$35,808	-6.36%	$33,521	-6.36%	0.50%	0.40%
2001	4	6.12%	$38,001	7.77%	$36,125	7.77%	-1.16%	0.35%
2001	5	0.56%	$38,214	0.65%	$36,360	0.65%	0.22%	0.32%
2001	6	-2.20%	$37,372	-2.45%	$35,471	-2.45%	0.30%	0.30%
2001	7	0.50%	$37,559	-1.00%	$35,116	-1.00%	2.73%	0.30%
2001	8	-5.11%	$35,640	-6.27%	$32,913	-6.27%	1.11%	0.29%
2001	9	-5.79%	$33,575	-8.09%	$30,250	-8.09%	2.41%	0.28%
2001	10	2.94%	$34,561	1.90%	$30,823	1.90%	2.22%	0.20%
2001	11	5.35%	$36,410	7.65%	$33,183	7.65%	-2.32%	0.17%
2001	12	0.09%	$36,441	0.87%	$33,473	0.87%	-1.16%	0.15%
2002	1	-1.13%	$36,031	-1.47%	$32,979	-1.47%	0.45%	0.14%
2002	2	-1.02%	$35,662	-1.94%	$32,341	-1.94%	1.29%	0.14%
2002	3	1.81%	$36,309	3.74%	$33,552	3.74%	-2.30%	0.15%
2002	4	-4.00%	$34,857	-6.07%	$31,513	-6.07%	2.62%	0.15%
2002	5	-0.08%	$34,829	-0.75%	$31,276	-0.75%	1.04%	0.15%
2002	6	-5.23%	$33,008	-7.13%	$29,044	-7.13%	1.72%	0.14%
2002	7	-5.42%	$31,218	-7.72%	$26,802	-7.72%	2.66%	0.14%
2002	8	1.97%	$31,833	0.65%	$26,977	0.65%	2.42%	0.14%
2002	9	-7.90%	$29,318	-10.87%	$24,043	-10.87%	3.03%	0.14%
2002	10	7.42%	$31,493	8.78%	$26,155	8.78%	-0.70%	0.13%
2002	11	4.56%	$32,930	5.88%	$27,692	5.88%	-1.32%	0.12%
2002	12	-3.81%	$31,677	-5.89%	$26,060	-5.89%	2.58%	0.10%
2003	1	-2.68%	$30,828	-2.62%	$25,376	-2.62%	-0.49%	0.10%
2003	2	-0.35%	$30,720	-1.52%	$24,991	-1.52%	1.77%	0.10%
2003	3	0.69%	$30,931	0.96%	$25,230	0.96%	-0.19%	0.10%
2003	4	7.46%	$33,237	8.25%	$27,312	8.25%	0.24%	0.09%
2003	5	6.23%	$35,308	5.26%	$28,750	5.26%	2.74%	0.09%
2003	6	0.83%	$35,601	1.26%	$29,112	1.26%	-0.43%	0.09%
2003	7	-0.76%	$35,332	1.74%	$29,620	1.74%	-3.87%	0.07%
2003	8	1.86%	$35,988	1.93%	$30,192	1.93%	0.19%	0.08%
2003	9	0.71%	$36,243	-1.07%	$29,869	-1.07%	3.09%	0.08%
2003	10	4.31%	$37,806	5.64%	$31,554	5.64%	-1.36%	0.08%
2003	11	0.74%	$38,087	0.86%	$31,826	0.86%	0.01%	0.08%
2003	12	5.17%	$40,055	5.22%	$33,488	5.22%	0.85%	0.08%
2004	1	2.07%	$40,884	1.82%	$34,098	1.82%	0.81%	0.08%
2004	2	1.89%	$41,659	1.38%	$34,567	1.38%	1.23%	0.08%
2004	3	-0.79%	$41,329	-1.51%	$34,044	-1.51%	1.06%	0.08%
2004	4	-3.29%	$39,970	-1.58%	$33,507	-1.58%	-3.25%	0.08%
2004	5	0.90%	$40,328	1.36%	$33,962	1.36%	-0.51%	0.08%
2004	6	2.01%	$41,140	1.93%	$34,618	1.93%	0.54%	0.09%
2004	7	-2.54%	$40,093	-3.31%	$33,471	-3.31%	0.91%	0.11%
2004	8	1.48%	$40,685	0.38%	$33,600	0.38%	2.07%	0.12%
2004	9	1.00%	$41,090	1.07%	$33,958	1.07%	0.19%	0.13%
2004	10	1.80%	$41,830	1.51%	$34,472	1.51%	0.91%	0.14%
2004	11	2.68%	$42,949	4.05%	$35,867	4.05%	-1.48%	0.16%
2004	12	3.55%	$44,473	3.39%	$37,084	3.39%	0.97%	0.18%
2005	1	-1.97%	$43,599	-2.45%	$36,174	-2.45%	0.56%	0.18%
2005	2	1.18%	$44,113	2.09%	$36,932	2.09%	-0.98%	0.21%
2005	3	-1.99%	$43,233	-1.76%	$36,281	-1.76%	-0.51%	0.23%
2005	4	-0.80%	$42,888	-1.91%	$35,588	-1.91%	1.75%	0.23%
2005	5	3.43%	$44,360	3.17%	$36,715	3.17%	1.20%	0.24%
2005	6	0.32%	$44,503	0.13%	$36,762	0.13%	0.55%	0.25%
2005	7	2.32%	$45,536	3.71%	$38,124	3.71%	-1.41%	0.26%
2005	8	-0.01%	$45,533	-0.91%	$37,776	-0.91%	1.65%	0.28%
2005	9	-0.10%	$45,489	0.79%	$38,076	0.79%	-1.14%	0.29%
2005	10	-2.10%	$44,535	-1.68%	$37,437	-1.68%	-0.79%	0.29%
2005	11	3.50%	$46,095	3.76%	$38,846	3.76%	0.48%	0.33%
2005	12	0.44%	$46,299	0.02%	$38,855	0.02%	1.01%	0.32%
2006	1	2.02%	$47,235	2.65%	$39,883	2.65%	-0.34%	0.33%
2006	2	0.12%	$47,291	0.26%	$39,988	0.26%	0.09%	0.37%
2006	3	0.39%	$47,474	1.23%	$40,480	1.23%	-0.99%	0.38%
2006	4	0.79%	$47,848	1.33%	$41,019	1.33%	-0.37%	0.38%
2006	5	-2.80%	$46,507	-2.90%	$39,831	-2.90%	0.02%	0.39%
2006	6	-0.03%	$46,495	0.13%	$39,882	0.13%	0.10%	0.40%
2006	7	1.16%	$47,035	0.61%	$40,124	0.61%	1.35%	0.41%
2006	8	2.89%	$48,396	2.36%	$41,072	2.36%	1.62%	0.42%
2006	9	2.64%	$49,674	2.56%	$42,125	2.56%	0.94%	0.41%
2006	10	3.03%	$51,181	3.25%	$43,494	3.25%	0.57%	0.40%
2006	11	2.13%	$52,271	1.89%	$44,316	1.89%	1.12%	0.42%
2006	12	0.49%	$52,525	1.39%	$44,932	1.39%	-0.98%	0.41%
2007	1	1.00%	$53,053	1.49%	$45,603	1.49%	-0.26%	0.41%
2007	2	-0.87%	$52,593	-1.97%	$44,705	-1.97%	1.86%	0.42%
2007	3	0.79%	$53,009	1.11%	$45,202	1.11%	0.03%	0.42%
2007	4	4.07%	$55,168	4.42%	$47,199	4.42%	0.57%	0.41%
2007	5	2.21%	$56,387	3.48%	$48,840	3.48%	-1.18%	0.40%
2007	6	-1.80%	$55,374	-1.68%	$48,022	-1.68%	-0.18%	0.39%
2007	7	-1.93%	$54,307	-3.08%	$46,540	-3.08%	1.81%	0.39%
2007	8	2.31%	$55,564	1.50%	$47,238	1.50%	1.97%	0.40%
2007	9	3.40%	$57,454	3.72%	$48,997	3.72%	0.46%	0.33%
2007	10	1.73%	$58,450	1.58%	$49,770	1.58%	0.84%	0.31%
2007	11	-1.86%	$57,365	-4.19%	$47,687	-4.19%	3.46%	0.32%
2007	12	-0.56%	$57,047	-0.70%	$47,353	-0.70%	0.27%	0.26%
2008	1	-3.41%	$55,103	-6.02%	$44,504	-6.02%	3.10%	0.28%
2008	2	-2.20%	$53,894	-3.25%	$43,057	-3.25%	1.35%	0.16%
2008	3	0.11%	$53,951	-0.44%	$42,868	-0.44%	0.93%	0.15%
2008	4	2.90%	$55,514	4.85%	$44,948	4.85%	-2.14%	0.11%
2008	5	0.32%	$55,692	1.29%	$45,529	1.29%	-1.32%	0.12%
2008	6	-7.30%	$51,626	-8.44%	$41,688	-8.44%	0.77%	0.15%
2008	7	-0.34%	$51,452	-0.83%	$41,341	-0.83%	0.77%	0.16%
2008	8	1.84%	$52,401	1.45%	$41,939	1.45%	0.98%	0.14%
2008	9	-7.67%	$48,384	-8.91%	$38,204	-8.91%	0.51%	0.14%
2008	10	-15.97%	$40,660	-16.79%	$31,788	-16.79%	-1.36%	0.08%
2008	11	-3.13%	$39,389	-7.17%	$29,508	-7.17%	5.58%	0.04%
2008	12	3.16%	$40,633	1.07%	$29,822	1.07%	3.66%	0.00%
2009	1	-8.86%	$37,031	-8.41%	$27,314	-8.41%	-2.39%	0.01%
2009	2	-9.83%	$33,391	-10.66%	$24,403	-10.66%	-0.58%	0.02%
2009	3	9.80%	$36,662	8.76%	$26,540	8.76%	3.20%	0.02%
2009	4	7.52%	$39,421	9.56%	$29,077	9.56%	-1.76%	0.02%
2009	5	4.39%	$41,150	5.62%	$30,711	5.62%	-1.10%	0.01%
2009	6	-0.02%	$41,143	0.22%	$30,778	0.22%	-0.37%	0.01%
2009	7	7.25%	$44,125	7.58%	$33,111	7.58%	0.60%	0.02%
2009	8	3.77%	$45,786	3.60%	$34,302	3.60%	0.89%	0.02%
2009	9	3.87%	$47,559	3.72%	$35,577	3.72%	0.92%	0.01%
2009	10	-1.54%	$46,827	-1.87%	$34,913	-1.87%	0.25%	0.01%
2009	11	6.47%	$49,859	5.98%	$37,001	5.98%	1.96%	0.00%
2009	12	-0.13%	$49,793	1.95%	$37,721	1.95%	-3.13%	0.01%
2010	1	-2.17%	$48,714	-3.60%	$36,362	-3.60%	1.97%	0.01%
2010	2	3.04%	$50,195	3.09%	$37,486	3.09%	0.40%	0.01%
2010	3	4.90%	$52,656	6.01%	$39,740	6.01%	-0.91%	0.01%
2010	4	2.13%	$53,776	1.58%	$40,367	1.58%	1.23%	0.01%
2010	5	-6.27%	$50,405	-8.01%	$37,136	-8.01%	1.85%	0.01%
2010	6	-3.45%	$48,668	-5.24%	$35,190	-5.24%	2.07%	0.01%
2010	7	6.81%	$51,981	7.00%	$37,652	7.00%	1.07%	0.02%
2010	8	-2.78%	$50,536	-4.53%	$35,947	-4.53%	2.00%	0.01%
2010	9	7.92%	$54,536	8.92%	$39,153	8.92%	0.36%	0.01%
2010	10	3.55%	$56,474	3.79%	$40,636	3.79%	0.45%	0.01%
2010	11	-0.59%	$56,138	0.00%	$40,636	0.00%	-0.98%	0.01%
2010	12	4.66%	$58,756	6.67%	$43,347	6.67%	-2.29%	0.01%
2011	1	2.33%	$60,127	2.36%	$44,368	2.36%	0.29%	0.01%
2011	2	2.81%	$61,817	3.42%	$45,884	3.42%	-0.43%	0.01%
2011	3	-0.05%	$61,784	0.03%	$45,896	0.03%	-0.12%	0.01%
2011	4	3.60%	$64,007	2.95%	$47,249	2.95%	1.60%	0.01%
2011	5	-0.03%	$63,990	-1.15%	$46,708	-1.15%	1.77%	0.00%
2011	6	-1.59%	$62,975	-1.67%	$45,927	-1.67%	-0.16%	0.01%
2011	7	-0.54%	$62,634	-2.05%	$44,987	-2.05%	2.18%	0.00%
2011	8	-3.14%	$60,667	-5.45%	$42,536	-5.45%	2.70%	0.01%
2011	9	-5.55%	$57,298	-7.04%	$39,541	-7.04%	0.73%	0.00%
2011	10	9.57%	$62,782	10.91%	$43,856	10.91%	-0.42%	0.00%
2011	11	-0.03%	$62,761	-0.23%	$43,754	-0.23%	0.29%	0.00%
2011	12	1.52%	$63,713	1.02%	$44,199	1.02%	1.00%	0.00%
2012	1	4.47%	$66,563	4.46%	$46,172	4.46%	0.81%	0.00%
2012	2	3.47%	$68,872	4.31%	$48,161	4.31%	-0.65%	0.01%
2012	3	2.51%	$70,603	3.28%	$49,741	3.28%	-0.79%	0.01%
2012	4	0.32%	$70,831	-0.64%	$49,423	-0.64%	1.50%	0.01%
2012	5	-4.61%	$67,562	-6.02%	$46,449	-6.02%	1.24%	0.01%
2012	6	3.46%	$69,902	4.11%	$48,357	4.11%	-0.22%	0.01%
2012	7	1.74%	$71,120	1.37%	$49,020	1.37%	0.86%	0.01%
2012	8	2.03%	$72,563	2.24%	$50,118	2.24%	0.10%	0.01%
2012	9	2.23%	$74,182	2.58%	$51,409	2.58%	-0.06%	0.01%
2012	10	-1.84%	$72,820	-1.86%	$50,453	-1.86%	-0.32%	0.01%
2012	11	0.86%	$73,447	0.56%	$50,735	0.56%	0.62%	0.01%
2012	12	0.55%	$73,850	0.90%	$51,193	0.90%	-0.41%	0.01%
2013	1	4.14%	$76,909	5.18%	$53,843	5.18%	-0.74%	0.00%
2013	2	1.60%	$78,137	1.34%	$54,564	1.34%	0.71%	0.01%
2013	3	3.48%	$80,859	3.74%	$56,604	3.74%	0.27%	0.01%
2013	4	2.14%	$82,591	1.91%	$57,684	1.91%	0.71%	0.01%
2013	5	1.00%	$83,415	2.33%	$59,027	2.33%	-1.84%	0.00%
2013	6	-2.16%	$81,611	-1.35%	$58,230	-1.35%	-1.62%	0.00%
2013	7	4.72%	$85,467	5.07%	$61,183	5.07%	0.13%	0.00%
2013	8	-3.24%	$82,694	-2.91%	$59,402	-2.91%	-1.02%	0.00%
2013	9	3.71%	$85,763	3.12%	$61,256	3.12%	1.47%	0.00%
2013	10	4.48%	$89,605	4.59%	$64,066	4.59%	0.49%	0.00%
2013	11	2.64%	$91,972	3.03%	$66,006	3.03%	-0.14%	0.00%
2013	12	1.40%	$93,259	2.51%	$67,665	2.51%	-1.49%	0.01%
2014	1	-2.23%	$91,182	-3.47%	$65,318	-3.47%	1.67%	0.01%
2014	2	4.24%	$95,044	4.56%	$68,297	4.56%	0.21%	0.00%
2014	3	0.40%	$95,427	0.82%	$68,859	0.82%	-0.60%	0.00%
2014	4	0.93%	$96,317	0.72%	$69,358	0.72%	0.49%	0.00%
2014	5	2.69%	$98,908	2.33%	$70,977	2.33%	1.03%	0.00%
2014	6	1.77%	$100,656	2.05%	$72,434	2.05%	-0.13%	0.00%
2014	7	-1.48%	$99,162	-1.39%	$71,428	-1.39%	-0.39%	0.00%
2014	8	4.21%	$103,337	3.98%	$74,272	3.98%	1.03%	0.00%
2014	9	-1.65%	$101,629	-1.41%	$73,223	-1.41%	-0.66%	0.00%
2014	10	2.84%	$104,518	2.42%	$74,997	2.42%	1.12%	0.00%
2014	11	2.90%	$107,546	2.68%	$77,009	2.68%	0.84%	0.00%
2014	12	-0.44%	$107,077	-0.26%	$76,806	-0.26%	-0.35%	0.00%
2015	1	-1.20%	$105,793	-3.02%	$74,488	-3.02%	2.70%	0.00%
2015	2	4.14%	$110,172	5.74%	$78,763	5.74%	-1.59%	0.00%
2015	3	-0.98%	$109,096	-1.59%	$77,508	-1.59%	0.76%	0.00%
2015	4	0.72%	$109,879	0.95%	$78,244	0.95%	-0.21%	0.00%
2015	5	1.07%	$111,052	1.27%	$79,239	1.27%	-0.12%	0.00%
2015	6	-2.18%	$108,633	-1.93%	$77,708	-1.93%	-0.74%	0.00%
2015	7	2.39%	$111,225	2.08%	$79,324	2.08%	0.85%	0.00%
2015	8	-5.45%	$105,160	-6.05%	$74,528	-6.05%	-0.03%	0.01%
2015	9	-1.47%	$103,614	-2.48%	$72,676	-2.48%	1.19%	0.01%
2015	10	7.13%	$111,002	8.42%	$78,797	8.42%	-0.47%	0.00%
2015	11	0.02%	$111,022	0.29%	$79,023	0.29%	-0.39%	0.01%
2015	12	-1.66%	$109,176	-1.59%	$77,764	-1.59%	-0.38%	0.02%
2016	1	-3.04%	$105,862	-4.98%	$73,894	-4.98%	2.36%	0.01%
2016	2	0.38%	$106,268	-0.15%	$73,787	-0.15%	0.82%	0.03%
2016	3	6.05%	$112,695	6.78%	$78,786	6.78%	0.22%	0.03%
2016	4	0.24%	$112,967	0.37%	$79,081	0.37%	-0.13%	0.02%
2016	5	1.44%	$114,589	1.78%	$80,491	1.78%	-0.21%	0.02%
2016	6	1.43%	$116,226	0.25%	$80,692	0.25%	2.05%	0.03%
2016	7	3.23%	$119,978	3.68%	$83,658	3.68%	0.04%	0.02%
2016	8	-0.32%	$119,596	0.13%	$83,767	0.13%	-0.72%	0.02%
2016	9	0.16%	$119,788	0.01%	$83,774	0.01%	0.29%	0.03%
2016	10	-2.05%	$117,333	-1.83%	$82,238	-1.83%	-0.73%	0.02%
2016	11	1.69%	$119,315	3.70%	$85,280	3.70%	-2.65%	0.03%
2016	12	1.72%	$121,363	1.96%	$86,954	1.96%	-0.05%	0.04%
2017	1	1.85%	$123,602	1.88%	$88,591	1.88%	0.30%	0.04%
2017	2	3.78%	$128,276	3.96%	$92,102	3.96%	0.39%	0.04%
2017	3	0.11%	$128,413	0.10%	$92,194	0.10%	0.07%	0.04%
2017	4	1.34%	$130,130	1.02%	$93,133	1.02%	0.77%	0.06%
2017	5	1.56%	$132,163	1.39%	$94,431	1.39%	0.59%	0.07%
2017	6	0.24%	$132,480	0.61%	$95,008	0.61%	-0.47%	0.08%
2017	7	2.03%	$135,175	2.04%	$96,949	2.04%	0.42%	0.08%
2017	8	0.70%	$136,127	0.29%	$97,233	0.29%	0.86%	0.09%
2017	9	1.34%	$137,952	2.06%	$99,235	2.06%	-0.83%	0.08%
2017	10	1.92%	$140,600	2.32%	$101,535	2.32%	-0.21%	0.09%
2017	11	2.49%	$144,099	3.06%	$104,641	3.06%	-0.39%	0.09%
2017	12	0.99%	$145,524	1.10%	$105,795	1.10%	0.07%	0.10%
2018	1	4.26%	$151,721	5.71%	$111,838	5.71%	-1.56%	0.11%
2018	2	-3.68%	$146,141	-3.69%	$107,706	-3.69%	-0.49%	0.12%
2018	3	-1.91%	$143,355	-2.56%	$104,954	-2.56%	0.75%	0.14%
2018	4	-0.32%	$142,889	0.37%	$105,346	0.37%	-0.92%	0.14%
2018	5	2.55%	$146,532	2.39%	$107,868	2.39%	0.76%	0.15%
2018	6	0.53%	$147,303	0.61%	$108,521	0.61%	0.11%	0.16%
2018	7	3.03%	$151,768	3.71%	$112,546	3.71%	-0.35%	0.16%
2018	8	3.31%	$156,785	3.25%	$116,200	3.25%	0.77%	0.17%
2018	9	-0.06%	$156,694	0.55%	$116,844	0.55%	-0.82%	0.17%
2018	10	-6.33%	$146,767	-6.85%	$108,841	-6.85%	-0.06%	0.18%
2018	11	2.32%	$150,174	2.03%	$111,047	2.03%	0.96%	0.19%
2018	12	-7.06%	$139,565	-9.04%	$101,008	-9.04%	1.90%	0.19%
2019	1	7.45%	$149,966	8.00%	$109,091	8.00%	0.58%	0.20%
2019	2	2.65%	$153,945	3.20%	$112,583	3.20%	-0.26%	0.20%
2019	3	2.71%	$158,116	1.94%	$114,763	1.94%	1.78%	0.20%
2019	4	3.48%	$163,624	4.04%	$119,401	4.04%	-0.05%	0.20%
2019	5	-4.63%	$156,054	-6.36%	$111,801	-6.36%	2.05%	0.20%
2019	6	6.72%	$166,541	7.03%	$119,664	7.03%	1.02%	0.19%
2019	7	1.08%	$168,347	1.43%	$121,370	1.43%	-0.16%	0.17%
2019	8	-0.07%	$168,234	-1.59%	$119,439	-1.59%	2.48%	0.17%
2019	9	1.13%	$170,144	1.86%	$121,659	1.86%	-0.70%	0.16%
2019	10	1.91%	$173,399	2.15%	$124,281	2.15%	0.16%	0.15%
2019	11	2.98%	$178,559	3.62%	$128,781	3.62%	-0.37%	0.13%
2019	12	2.45%	$182,926	3.01%	$132,651	3.01%	-0.36%	0.13%
2020	1	1.13%	$184,991	-0.05%	$132,584	-0.05%	2.19%	0.13%
2020	2	-6.26%	$173,416	-8.24%	$121,658	-8.24%	2.12%	0.13%
2020	3	-9.52%	$156,899	-12.37%	$106,606	-12.37%	2.27%	0.10%
2020	4	11.81%	$175,424	12.81%	$120,266	12.81%	0.46%	0.01%
2020	5	4.53%	$183,370	4.76%	$125,986	4.76%	0.42%	0.01%
2020	6	1.95%	$186,947	1.98%	$128,478	1.98%	0.30%	0.01%
2020	7	5.35%	$196,940	5.63%	$135,707	5.63%	0.49%	0.01%
2020	8	6.32%	$209,396	7.18%	$145,447	7.18%	-0.22%	0.01%
2020	9	-3.37%	$202,334	-3.81%	$139,904	-3.81%	0.16%	0.01%
2020	10	-2.76%	$196,743	-2.67%	$136,167	-2.67%	-0.59%	0.01%
2020	11	10.02%	$216,449	10.94%	$151,058	10.94%	0.23%	0.01%
2020	12	3.54%	$224,102	3.84%	$156,857	3.84%	0.14%	0.01%
2021	1	-1.19%	$221,432	-1.02%	$155,255	-1.02%	-0.46%	0.01%
2021	2	1.72%	$225,231	2.75%	$159,532	2.75%	-1.32%	0.01%
2021	3	3.49%	$233,090	4.37%	$166,503	4.37%	-0.88%	0.00%
2021	4	5.22%	$245,257	5.32%	$175,366	5.32%	0.72%	0.00%
2021	5	0.91%	$247,498	0.69%	$176,569	0.69%	0.52%	0.00%

Portfolio return and risk metrics
Metric	Portfolio 1	Vanguard 500 Index Investor
Arithmetic Mean (monthly)	0.98%	0.90%
Arithmetic Mean (annualized)	12.44%	11.41%
Geometric Mean (monthly)	0.91%	0.82%
Geometric Mean (annualized)	11.53%	10.25%
Volatility (monthly)	3.69%	4.17%
Volatility (annualized)	12.80%	14.46%
Downside Deviation (monthly)	2.32%	2.76%
Max. Drawdown	-42.87%	-50.97%
US Market Correlation	0.96	0.99
Beta^(*)	0.86	1.00
Alpha (annualized)	2.39%	0.00%
R²	95.52%	100.00%
Sharpe Ratio	0.74	0.59
Sortino Ratio	1.13	0.86
Treynor Ratio (%)	10.89	8.50
Calmar Ratio	1.26	0.91
Active Return	1.27%	N/A
Tracking Error	3.34%	N/A
Information Ratio	0.38	N/A
Skewness	-0.54	-0.64
Excess Kurtosis	1.45	1.43
Historical Value-at-Risk (5%)	-5.49%	-6.93%
Analytical Value-at-Risk (5%)	-5.12%	-5.96%
Conditional Value-at-Risk (5%)	-7.81%	-9.47%
Upside Capture Ratio (%)	92.39	100.00
Downside Capture Ratio (%)	82.12	100.00
Safe Withdrawal Rate	9.95%	8.64%
Perpetual Withdrawal Rate	8.38%	7.32%
Positive Periods	231 out of 353 (65.44%)	235 out of 353 (66.57%)
Gain/Loss Ratio	1.04	0.87
^* Vanguard 500 Index Investor 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	Vanguard 500 Index Investor
Asian Crisis	Jul 1997	Jan 1998	-5.86%	-5.61%
Russian Debt Default	Jul 1998	Oct 1998	-12.22%	-15.38%
Dotcom Crash	Mar 2000	Oct 2002	-32.20%	-44.82%
Subprime Crisis	Nov 2007	Mar 2009	-42.87%	-50.97%

Drawdowns for Portfolio 1

Drawdowns for Portfolio 1 (worst 10)
Rank	Start	End	Length	Recovery By	Recovery Time	Underwater Period	Drawdown
1	Nov 2007	Feb 2009	1 year 4 months	Dec 2010	1 year 10 months	3 years 2 months	-42.87%
2	Sep 2000	Sep 2002	2 years 1 month	Dec 2004	2 years 3 months	4 years 4 months	-32.20%
3	Feb 2020	Mar 2020	2 months	Jun 2020	3 months	5 months	-15.19%
4	Jul 1998	Aug 1998	2 months	Oct 1998	2 months	4 months	-12.22%
5	Sep 2018	Dec 2018	4 months	Mar 2019	3 months	7 months	-10.98%
6	May 2011	Sep 2011	5 months	Jan 2012	4 months	9 months	-10.48%
7	Feb 1994	Jun 1994	5 months	Feb 1995	8 months	1 year 1 month	-10.19%
8	Aug 2015	Sep 2015	2 months	Mar 2016	6 months	8 months	-6.84%
9	Jan 2000	Feb 2000	2 months	Mar 2000	1 month	3 months	-6.36%
10	Sep 2020	Oct 2020	2 months	Nov 2020	1 month	3 months	-6.04%
Worst 10 drawdowns included above

Drawdowns for Vanguard 500 Index Investor

Drawdowns for Vanguard 500 Index Investor (worst 10)
Rank	Start	End	Length	Recovery By	Recovery Time	Underwater Period	Drawdown
1	Nov 2007	Feb 2009	1 year 4 months	Aug 2012	3 years 6 months	4 years 10 months	-50.97%
2	Sep 2000	Sep 2002	2 years 1 month	Nov 2006	4 years 2 months	6 years 3 months	-44.82%
3	Jan 2020	Mar 2020	3 months	Jul 2020	4 months	7 months	-19.63%
4	Jul 1998	Aug 1998	2 months	Nov 1998	3 months	5 months	-15.38%
5	Oct 2018	Dec 2018	3 months	Apr 2019	4 months	7 months	-13.55%
6	Aug 2015	Sep 2015	2 months	May 2016	8 months	10 months	-8.38%
7	Feb 1994	Mar 1994	2 months	Aug 1994	5 months	7 months	-6.98%
8	Jan 2000	Feb 2000	2 months	Mar 2000	1 month	3 months	-6.84%
9	Sep 2020	Oct 2020	2 months	Nov 2020	1 month	3 months	-6.38%
10	May 2019	May 2019	1 month	Jun 2019	1 month	2 months	-6.36%
Worst 10 drawdowns included above

Portfolio Assets

Performance statistics for portfolio components
Ticker	Name	CAGR	Stdev	Best Year	Worst Year	Max. Drawdown	Sharpe Ratio	Sortino Ratio	US Mkt Correlation
VFINX	Vanguard 500 Index Investor	10.25%	14.46%	37.45%	-37.02%	-50.97%	0.59	0.86	0.99
VFITX	Vanguard Interm-Term Treasury Inv	5.32%	4.64%	20.44%	-4.33%	-6.47%	0.64	1.06	-0.18
CASHX	Cash	2.38%	0.59%	5.99%	0.02%	0.00%	N/A	N/A	-0.02

Monthly Correlations

Correlations for the portfolio assets
Ticker	Name	VFINX	VFITX	CASHX	Portfolio 1	Vanguard 500 Index Investor
VFINX	Vanguard 500 Index Investor	1.00	-0.16	-0.01	0.98	1.00
VFITX	Vanguard Interm-Term Treasury Inv	-0.16	1.00	0.14	0.05	-0.16
CASHX	Cash	-0.01	0.14	1.00	-0.00	-0.01

Portfolio Return Decomposition

Portfolio return decomposition
Ticker	Name	Portfolio 1
VFINX	Vanguard 500 Index Investor	$206,060
VFITX	Vanguard Interm-Term Treasury Inv	$45,313
CASHX	Cash	-$13,876

Portfolio Risk Decomposition

Portfolio risk decomposition
Ticker	Name	Portfolio 1
VFINX	Vanguard 500 Index Investor	98.87%
VFITX	Vanguard Interm-Term Treasury Inv	1.13%
CASHX	Cash	0.00%

Annual Asset Returns

Rolling returns summary
Roll Period	Portfolio 1			Vanguard 500 Index Investor
Roll Period	Average	High	Low	Average	High	Low
1 year	12.34%	50.32%	-38.04%	11.33%	56.19%	-43.32%
3 years	11.35%	32.09%	-10.95%	10.24%	32.68%	-16.14%
5 years	10.93%	27.64%	-4.33%	9.67%	28.49%	-6.73%
7 years	10.26%	21.41%	-0.94%	8.81%	21.51%	-3.94%
10 years	9.33%	16.51%	-0.60%	7.61%	16.52%	-3.51%
15 years	8.88%	12.23%	6.10%	7.14%	11.10%	3.64%