• Let's review the highlights of your investment portfolio.

    1. INTRODUCTION

    2. PORTFOLIO CONSTRUCTION

    3. PERFORMANCE

    4. INVESTMENT RISK

    5. NEXT STEPS

    Risk Return
  • Important Information

    Array
  • 2. PORTFOLIO CONSTRUCTION

  • First let's see how your portfolio was designed starting on 05/15/1997.

  • Your portfolio is invested with the Tech Leaders Portfolio strategy. It is diversified across 7 investment positions.

  • The main asset class of your portfolio is: Equities - Large Cap. The detailed allocation across asset classes is shown below.

  • Your portfolio was constructed using the following approach:

    • Main investment approach: Tactical
    • Main asset class: Equities - Large Cap
    • Tech Leaders Portfolio was invested on 05/15/1997 and held through 08/12/2022
    • Results are net of 1.5% annual management fees
    • The strategy named '50US50INTL' was assigned as a comparison benchmark
  • 3. PERFORMANCE

  • Let's review your performance over the past 25.3 years, from 05/15/1997, the first day data was available, to 08/12/2022.

  • Your portfolio has been profitable in 74% of annual periods. Its average annual return of 26.45% has been achieved with performance swings from +610.4% in its best year to -43.1%.

    Net Annualized Returns
    Since inception 26.45%
    Year to date -12.78%
    Last 12 months -11.76%
    Past 3 years 15.59%
    Past 5 years 11.07%
    Past 10 years 21.01%
    Rolling 12-Month Returns Statistics
    Number of positive periods 74%
    Average when positive 48.7%
    Average when negative -8.9%
    Best 12 months 610.4%
    Worst 12 months -43.1%
    Rolling statistics are based on the analysis of the 8,969 twelve-month time windows in your portfolio's data history from 05/15/1997 to 08/12/2022.
  • Here is its performance in each calendar year, consistent with its overall 26.45% annual returns. Move your cursor over the chart to see returns in individual years.

  • Each calendar year has a balance of months with negative and positive performance.

  • Performance comparison of your portfolio and global asset classes.

    2022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998
    Gold Bullion -1.8% Global Real Estate +47.3% Global Stocks +30.9% US Broad Stock Market +30.6% Technology Model +11.3% Technology Model +45.4% Emerging Markets Bonds +22.4% Technology Model +25.6% Global Real Estate +30.9% Technology Model +109.3% Emerging Markets Bonds +28.6% Municipal Bonds +10.8% Technology Model +65.5% Emerging Markets Stocks +94.3% Intermediate Government Bonds +15.4% Technology Model +83.5% Emerging Markets Stocks +39.6% Technology Model +58.8% Technology Model +74.2% Emerging Markets Stocks +68% Intermediate Government Bonds +16.3% Emerging Markets Bonds +9.5% Global Real Estate +32.8% Emerging Markets Stocks +69.1% Technology Model +275.7%
    Intermediate Government Bonds -6.7% Natural Resources +26.3% Gold Bullion +24.8% Global Stocks +28.9% Intermediate Government Bonds +1% Emerging Markets Stocks +31.1% Natural Resources +21.5% Emerging Markets Bonds +7.3% US Broad Stock Market +12.4% US Broad Stock Market +33.3% Technology Model +21.2% Emerging Markets Bonds +10.3% Gold Bullion +29.3% Natural Resources +51.5% Intermediate-Term Bonds +8.2% Emerging Markets Stocks +45.4% Global Real Estate +35.2% Emerging Markets Stocks +39.1% Global Real Estate +36.7% Gold Bullion +49% Intermediate-Term Bonds +10.4% Intermediate-Term Bonds +8.4% Intermediate Government Bonds +15.9% Technology Model +64.9% US Broad Stock Market +23.3%
    Natural Resources -8.6% US Broad Stock Market +25.6% US Broad Stock Market +20.9% Natural Resources +23.5% Municipal Bonds +0.9% Global Stocks +28.7% US Broad Stock Market +12.5% Municipal Bonds +4% Municipal Bonds +11.1% Global Stocks +32.3% Emerging Markets Stocks +19.8% Intermediate Government Bonds +9.8% Global Real Estate +28.1% Global Real Estate +45% Gold Bullion +4.9% Gold Bullion +30.5% Gold Bullion +22.5% Emerging Markets Bonds +32.4% Emerging Markets Stocks +28.2% Global Stocks +38.4% Municipal Bonds +9.7% Intermediate Government Bonds +6.6% Emerging Markets Bonds +15.3% Global Stocks +31.7% Intermediate Government Bonds +11.1%
    Intermediate-Term Bonds -8.8% Technology Model +25.5% Natural Resources +19.4% Global Real Estate +22.2% Intermediate-Term Bonds +0.1% Natural Resources +23.8% Emerging Markets Stocks +11.5% Global Stocks +2.9% Emerging Markets Bonds +10% Natural Resources +24.9% Global Stocks +17.8% Gold Bullion +9.6% Natural Resources +24.5% Emerging Markets Bonds +43.6% Municipal Bonds -4.9% Natural Resources +26.1% Emerging Markets Bonds +20.9% Gold Bullion +17.8% Emerging Markets Bonds +22.4% Natural Resources +37.4% Emerging Markets Bonds +9.6% Global Real Estate +6.4% Municipal Bonds +13.4% US Broad Stock Market +23.8% Intermediate-Term Bonds +9%
    Municipal Bonds -9.4% Global Stocks +18.2% Emerging Markets Stocks +15.1% Emerging Markets Stocks +20.1% Gold Bullion -1.9% US Broad Stock Market +21% Gold Bullion +8% Global Real Estate +2.8% Natural Resources +5.9% Global Real Estate +4.5% Natural Resources +17.3% Intermediate-Term Bonds +7.7% Emerging Markets Stocks +22.7% US Broad Stock Market +28.7% Emerging Markets Bonds -9.7% Global Stocks +18.2% Natural Resources +19.9% Global Real Estate +17.7% Natural Resources +16.5% Global Real Estate +37.1% Global Real Estate +5% Municipal Bonds +4.8% Intermediate-Term Bonds +11.4% Emerging Markets Bonds +23.6% Municipal Bonds +6.6%
    US Broad Stock Market -10.4% Municipal Bonds +1.8% Technology Model +9.9% Gold Bullion +17.9% Emerging Markets Bonds -2.4% Emerging Markets Bonds +16.8% Global Real Estate +6.1% Intermediate Government Bonds +1.2% Intermediate-Term Bonds +5.8% Emerging Markets Bonds -1.8% US Broad Stock Market +16.3% Global Real Estate +6.5% Emerging Markets Bonds +20.1% Global Stocks +27.7% Technology Model -10.6% Emerging Markets Bonds +15.3% Global Stocks +17% Global Stocks +13.5% US Broad Stock Market +12.5% Technology Model +34.4% Technology Model -1.8% Natural Resources +2.1% Gold Bullion -6.1% Natural Resources +20.6% Gold Bullion +5.6%
    Global Real Estate -10.7% Emerging Markets Stocks +0.7% Intermediate Government Bonds +8.2% Emerging Markets Bonds +16.3% Global Stocks -4.6% Gold Bullion +12.8% Technology Model +3.9% Intermediate-Term Bonds +0.5% Intermediate Government Bonds +3.9% Intermediate-Term Bonds -2.2% Global Real Estate +15.5% US Broad Stock Market +1% US Broad Stock Market +17.1% Gold Bullion +24% Global Real Estate -34.4% Intermediate Government Bonds +10.3% US Broad Stock Market +15.5% US Broad Stock Market +6% Global Stocks +12.2% US Broad Stock Market +31.3% Gold Bullion -2.2% Gold Bullion -1.3% Global Stocks -8.8% Global Real Estate +0.7% Natural Resources +5.3%
    Technology Model -12.8% Intermediate Government Bonds -2.3% Intermediate-Term Bonds +7.5% Technology Model +16% US Broad Stock Market -5.3% Municipal Bonds +6.8% Intermediate-Term Bonds +2.4% US Broad Stock Market +0.3% Emerging Markets Stocks +3.5% Municipal Bonds -3% Municipal Bonds +8.1% Technology Model -1.7% Global Stocks +17% Technology Model +20.8% US Broad Stock Market -37% Intermediate-Term Bonds +6.9% Municipal Bonds +4.4% Natural Resources +3.7% Gold Bullion +5.4% Emerging Markets Bonds +26.8% Emerging Markets Stocks -4.6% Technology Model -1.8% US Broad Stock Market -10.6% Intermediate-Term Bonds -0.9% Global Stocks +2.6%
    Emerging Markets Stocks -15.1% Intermediate-Term Bonds -2.3% Municipal Bonds +5.7% Municipal Bonds +8.5% Global Real Estate -9.1% Global Real Estate +4.4% Intermediate Government Bonds +1.2% Natural Resources -10.2% Technology Model +1.2% Intermediate Government Bonds -3.7% Gold Bullion +6.6% Global Stocks -6.7% Intermediate Government Bonds +6.7% Municipal Bonds +14.1% Global Stocks -40.2% US Broad Stock Market +5.5% Intermediate Government Bonds +3.5% Municipal Bonds +3.1% Intermediate-Term Bonds +4.9% Municipal Bonds +5.2% Natural Resources -5.3% Emerging Markets Stocks -4.8% Natural Resources -14.6% Intermediate Government Bonds -3.3% Global Real Estate -13.4%
    Emerging Markets Bonds -16.2% Emerging Markets Bonds -2.4% Emerging Markets Bonds +4.6% Intermediate-Term Bonds +8.5% Emerging Markets Stocks -14.7% Intermediate-Term Bonds +3.9% Municipal Bonds +0.6% Gold Bullion -10.7% Global Stocks +1.1% Emerging Markets Stocks -4.2% Intermediate Government Bonds +4.4% Natural Resources -9.5% Intermediate-Term Bonds +6.4% Intermediate-Term Bonds +2.9% Natural Resources -46.5% Municipal Bonds +2.6% Intermediate-Term Bonds +3.4% Intermediate-Term Bonds +3.1% Municipal Bonds +4.1% Intermediate-Term Bonds +5.1% Global Stocks -18.8% Global Stocks -6.2% Emerging Markets Stocks -25.2% Municipal Bonds -4.5% Emerging Markets Stocks -16.4%
    Global Stocks -18.2% Gold Bullion -4.1% Global Real Estate -11.4% Intermediate Government Bonds +6.3% Natural Resources -17.5% Intermediate Government Bonds +1.6% Global Stocks -0.6% Emerging Markets Stocks -15% Gold Bullion -2.2% Gold Bullion -28.3% Intermediate-Term Bonds +3.8% Emerging Markets Stocks -19% Municipal Bonds +1.5% Intermediate Government Bonds -4.2% Emerging Markets Stocks -51.6% Global Real Estate -14.1% Technology Model -24.2% Intermediate Government Bonds +1.2% Intermediate Government Bonds +3.7% Intermediate Government Bonds +2.4% US Broad Stock Market -21% US Broad Stock Market -11% Technology Model -37.2% Gold Bullion -8.3% Emerging Markets Bonds -24.3%
  • Here is the growth of 1000 invested in your portfolio on 05/15/1997 compared to its benchmark.

    The vertical axis uses a log scale. As a result a 2% gain/loss (for instance) in 2013 looks like a dip of the same size as a 2% loss/gain in a previous year.
  • Portfolio pro-forma monthly net performance.

    Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
    1997-3.65%2.79%27.01%-2.71%27.08%-17.09%-1.51%14.79%45.8%
    1998-9.08%20.93%12.53%9.88%-5.15%44.7%-2.72%-8.8%0.96%7.58%43.36%45.75%275.7%
    199924.3%-7.01%1.36%-9.67%-17.69%3.24%1.32%10.54%-5.03%15.97%16.57%27.54%64.9%
    2000-5.05%7.54%0.31%-17.78%-14.86%-3.56%-3.42%-0.07%-5.45%-0.16%-0.15%-0.15%-37.2%
    2001-0.15%-0.14%-0.16%-0.15%-0.16%-0.15%-0.15%-0.17%-0.11%-0.17%-0.15%-0.15%-1.8%
    2002-0.15%-0.14%-0.15%-0.16%-0.16%-0.15%-0.16%-0.16%-0.15%-0.17%-0.15%-0.15%-1.8%
    2003-0.15%-0.14%-0.15%-0.15%-2.17%0.48%4.48%11.78%0.94%26.4%-9.79%2.3%34.4%
    200416.43%-6.28%-4.46%-7.09%10.09%11.1%-10.34%0.05%13.35%28.37%12.42%0.19%74.2%
    20058.94%6.55%-5.65%-6.3%8.67%1.27%4.54%5.17%14.91%3.84%11.09%-3.53%58.8%
    2006-2.85%-16.53%1.31%-2.3%-6.4%-0.01%-7.06%-0.99%3.95%5.01%5.56%-4.86%-24.2%
    20071.44%-1.86%2.58%17.61%12.16%-1.15%9.54%2.56%13.15%8.47%-5.43%5.68%83.5%
    2008-9.03%-0.15%-0.15%-0.16%-0.23%-0.15%-0.16%-0.15%-0.15%-0.17%-0.14%-0.16%-10.6%
    2009-0.15%-0.14%-0.16%-0.15%-0.15%-0.16%-0.16%-0.87%8.74%3.39%8.48%0.98%20.8%
    2010-4.96%1.19%10.83%13.83%5.54%-2.91%-1.94%10.27%13.56%5.31%6.21%-3.1%65.5%
    20115.77%1.3%2.35%-0.45%5.52%-2.35%2.55%-9.61%-0.15%-0.15%-7.71%2.42%-1.7%
    20120.3%6.17%6.88%-2.66%-5.54%2.92%3.31%6.79%3.39%-7.8%2.86%4.06%21.2%
    201316.64%9%1.23%8.41%4.4%-4.78%12.58%3.54%13.03%3.24%3.76%6.88%109.3%
    2014-0.05%7.02%-10.29%-3.62%6.82%4.26%-0.81%6.69%-2.1%-4.46%4.74%-5.27%1.2%
    2015-5.41%4.78%-2.07%3.38%6.14%2.85%16.77%-9.59%-0.15%2.86%6.27%-0.44%25.6%
    2016-6.13%-0.15%2.34%0.25%3.37%-3.11%6.08%5.11%6.27%-2.88%-6.22%-0.02%3.9%
    20178.8%3.41%3.64%2.84%5.62%-1.07%8.06%4.18%-0.3%6.76%-1.62%-1.56%45.4%
    201816.87%1.05%-2.87%5.85%8.02%6.11%-8.5%7.56%-1.36%-11.74%-1.74%-5.02%11.3%
    2019-0.15%3.21%-4.33%3.82%-10.62%5.78%-0.17%-4.52%0.95%9.73%7.49%5.58%16%
    20202.5%-5.5%-11.22%-0.15%1.26%8.54%10.94%11.1%-7.77%-1.86%1.96%2.42%9.9%
    2021-0.46%0.67%2.08%10.59%-0.62%3.88%4.29%5.54%-7.33%6.27%-2.14%1.28%25.5%
    2022-4.4%-5.56%5.38%-8.88%0.98%-0.15%-0.15%-0.07%-12.8%
  • The portfolio's Sharpe ratio history helps build expectations for how market environments impact quality of returns.

    This chart shows 3-year rolling Sharpe ratios computed using a risk-free rate of 1%.
  • Let's now look at the range of expected future returns.

  • The top and bottom curves on this chart show the growth that can be expected from this portfolio with 95 percent confidence. Move your mouse over the chart to view numbers.

  • This is what the previous chart suggests you can expect short-term after investing $1,000 in this portfolio.

    • Your account could be worth between $580 and $1,726 after six months.
    • It could be worth between $293 and $2,376 after a year.
    • These ranges are consistent with long-term annual returns of 26.45%.
  • 4. INVESTMENT RISK

  • Let's start with a summary. Your portfolio's risk-versus-return score on a scale of 0 to 100 is 9.9.

    Risk-vs-Return
  • Your score of 9.9 indicates where your portfolio falls on the spectrum of risk versus expected returns.

    • A score of 100 aims for the highest long-term returns, with high risk.
    • A score of 9.9 is neither good nor bad.
    • The goal is that it intuitively reflect your intent for this investment.
  • To visualize how your risk score can be adjusted to suit your objectives, let's compare it to efficient-frontier portfolios.

    • Efficient-frontier portfolios are computed dynamically using all the portfolios tracked by investors on this website.
    • They have delivered the best returns for the risk taken.
    • The portfolio nearest the top-right of the chart has the highest risk-return balance. Its risk score is 100.
  • Here is your portfolio along with the portfolios on the Efficient Frontier. Click on a portfolio bubble if you wish to replace your portfolio with one on the Efficient Frontier.

  • Now let's look at other measures of risk.

  • Drawdowns measure how much a portfolio has dropped below its most recent peak value.

    • A drawdown of 0% means the portfolio has reached a new high.
    • Most of the time a portfolio is below its last peak as markets fluctuate.
    • Only once in a while does it reach a new peak, and the drawdown reverts to 0.
    • Average and maximum drawdowns give an indication of risk.
  • Your portfolio's drawdown history highlights how deep losses were and how long it took to recover.

    Drawdowns are shown as percentage losses from the most recent peak value.
  • Your portfolio's largest historical drawdown was -51.2%.

  • Here is a summary of the most common risk metrics. Click on highlights for definitions.

    Risk Analysis
    Volatility 27.96%
    Sharpe ratio 0.91
    Sortino ratio 1.6
    Duration (years) 0
    Current drawdown -15.5%
    Risk score (0 to 100): 9.9
    Maximum Drawdown
    Maximum drawdown -51.2%
    MAR ratio 0.5
    Length in months 55
    Start 03/27/2000
    Trough 05/19/2003
    Recovery 10/18/2004
    Trough to recovery (months) 18
    Statistics computed from 05/15/1997 to 08/12/2022.
  • Your portfolio's average volatility since 05/15/1997 is 27.96%.

  • This is how your portfolio compares to the broad U.S. stock and bond markets since 05/15/1997.

    The size of each bubble is proportional to Sharpe ratio
  • The portfolio's overall correlation to its benchmark is 96%

  • 5. NEXT STEPS

  • Thank you for reviewing this investment presentation.
    Please select one of the action buttons above to continue.

Performance presented is back-tested and does not indicate actual or future performance. Back-tested performance results do not reflect actual trading and have certain inherent limitations. Please visit the Disclosures Page and refer to the Back-Tested Performance Disclosures section to see important disclosures regarding hypothetical back-tested performance.
Past performance presented represents actual historical returns and is not indicative of future results. Please visit the Disclosures Page and refer to the NTAM Strategies and Actual Performance Disclosures section to see important disclosures regarding past performance.
Performance presented herein has been adjusted for the Manager's fees as specified on the Performance Analysis Overview Page.
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