Latest from the Portfolio Armor blog: Top Names, 5/23/2024

Performance: Tracking Portfolios

Tracking Portfolio Performance

For the performance of hedged portfolios created since June of 2017 and tracked in real time, see below. Returns for the hedged portfolios are net of hedging costs and net of trading costs. Click on a date to view an interactive chart.

In June of 2022, we updated the way we select our top names, by adding a new factor.

Portfolios Hedged Against > 2.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 1.01% 1.57% 3.16%
July 7, 2022 1.12% 2.34% 1.53%
July 14, 2022 0.86% 1.16% 7.31%
July 21, 2022 1.20% 2.42% 1.02%
July 28, 2022 1.11% 1.77% 1.67%
August 4, 2022 1.28% 0.99% 1.32%
August 11, 2022 1.08% 0.56% -1.13%
August 18, 2022 1.05% 0.00% -3.14%
August 25, 2022 1.41% 0.26% -3.85%
September 1, 2022 1.52% 2.28% 1.33%
September 8, 2022 1.68% 3.08% 1.39%
September 15, 2022 2.72% 0.03% 1.55%
September 22, 2022 1.00% 1.82% 6.57%
September 29, 2022 1.66% 1.33% 12.52%
October 6, 2022 1.56% 1.70% 11.52%
October 14, 2022 1.51% 4.23% 17.30%
October 20, 2022 1.45% 1.17% 14.64%
October 27, 2022 1.51% 2.87% 10.39%
November 3, 2022 1.65% 2.72% 11.85%
November 10, 2022 1.30% 3.23% 6.39%
November 17, 2022 1.61% 3.65% 7.12%
November 23, 2022 1.88% 2.39% 4.66%
December 8, 2022 1.75% 2.55% 10.15%
December 15, 2022 2.14% 4.11% 15.54%
December 22, 2022 1.29% 2.77% 15.97%
December 29, 2022 1.23% 2.22% 15.57%
January 5, 2023 1.04% 2.51% 18.14%
January 12, 2023 1.41% 2.54% 13.65%
January 19, 2023 1.60% 1.87% 18.47%
February 2, 2023 1.56% 2.18% 9.24%
February 9, 2023 2.12% 2.36% 10.75%
February 16, 2023 2.30% 2.84% 8.92%
February 23, 2023 2.21% 2.09% 11.84%
March 2, 2023 2.40% 3.33% 14.72%
March 9, 2023 2.53% 1.23% 15.09%
March 16, 2023 2.43% 3.19% 13.62%
March 23, 2023 1.27% 2.24% 10.27%
March 31, 2023 1.52% 1.30% 5.18%
April 6, 2023 2.02% 2.03% 5.74%
April 13, 2023 1.99% 0.83% 5.12%
April 20, 2023 1.96% 1.76% 3.01%
April 27, 2023 2.37% 0.99% 0.31%
May 4, 2023 2.72% 1.18% 8.08%
May 11, 2023 1.50% 3.30% 7.69%
May 18, 2023 2.06% 0.50% 8.31%
May 25, 2023 3.06% 1.50% 10.61%
June 1, 2023 2.12% 1.88% 9.63%
June 8, 2023 2.30% 2.30% 8.02%
June 15, 2023 2.03% 2.55% 7.25%
June 23, 2023 1.94% 3.51% 10.17%
June 29, 2023 2.73% 3.46% 9.32%
July 6, 2023 1.78% 1.63% 7.24%
July 13, 2023 2.40% 1.15% 6.84%
July 21, 2023 2.26% 0.78% 7.51%
July 27, 2023 2.29% 0.96% 8.54%
August 3, 2023 2.35% 1.66% 10.98%
August 10, 2023 2.71% 1.41% 13.26%
August 17, 2023 2.81% 0.75% 15.37%
August 24, 2023 1.69% 3.99% 17.13%
August 31, 2023 2.36% 2.45% 13.68%
September 7, 2023 1.18% 2.03% 16.61%
September 14, 2023 1.67% 5.03% 15.22%
September 21, 2023 1.69% 1.34% 21.54%
September 29, 2023 2.77% 3.58% 22.86%
October 5, 2023 3.04% 3.89% 22.62%
October 12, 2023 3.01% 3.93% 18.28%
October 19, 2023 2.65% 3.27% 16.59%
November 2, 2023 2.10% 4.63% 17.72%
November 9, 2023 2.35% 5.00% 20.39%
November 16, 2023 2.31% 3.73% 17.90%
Average 1.89% 2.26% 10.08%

Portfolios Hedged Against > 3.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 1.23% 1.03% 3.16%
July 7, 2022 1.33% -0.63% 1.53%
July 14, 2022 1.40% 0.30% 7.31%
July 21, 2022 0.91% 2.68% 1.02%
July 28, 2022 1.27% 0.97% 1.67%
August 4, 2022 1.41% 1.54% 1.32%
August 11, 2022 1.11% -0.40% -1.13%
August 18, 2022 1.58% 0.67% -3.14%
August 25, 2022 1.46% 0.28% -3.85%
September 1, 2022 1.41% -0.47% 1.33%
September 8, 2022 1.75% 0.40% 1.39%
September 15, 2022 2.78% -0.20% 1.55%
September 22, 2022 1.20% -1.14% 6.57%
September 29, 2022 1.07% -0.43% 12.52%
October 6, 2022 1.19% 3.44% 11.52%
October 14, 2022 2.08% 3.23% 17.30%
October 20, 2022 1.38% 1.21% 14.64%
October 27, 2022 2.61% 1.76% 10.39%
November 3, 2022 2.46% -0.18% 11.85%
November 10, 2022 2.73% 2.66% 6.39%
November 17, 2022 2.10% 2.60% 7.12%
November 23, 2022 1.33% 1.50% 4.66%
December 8, 2022 1.85% 0.79% 10.15%
December 15, 2022 3.34% 1.80% 15.54%
December 22, 2022 1.99% 4.35% 15.97%
December 29, 2022 2.06% 3.02% 15.57%
January 5, 2023 1.61% 0.67% 18.14%
January 12, 2023 1.27% 0.52% 13.65%
January 19, 2023 1.74% 0.94% 18.47%
February 2, 2023 1.83% 0.60% 9.24%
February 9, 2023 2.30% 4.15% 10.75%
February 16, 2023 1.91% 2.27% 8.92%
February 23, 2023 2.57% 2.59% 11.84%
March 2, 2023 1.57% 3.18% 14.72%
March 9, 2023 2.85% 2.17% 15.09%
March 16, 2023 2.26% 4.73% 13.62%
March 23, 2023 1.23% 3.21% 10.27%
March 31, 2023 1.62% -0.10% 5.18%
April 6, 2023 1.39% -1.20% 5.74%
April 13, 2023 1.56% 0.54% 5.12%
April 20, 2023 1.62% 1.38% 3.01%
April 27, 2023 1.78% 1.19% 0.31%
May 4, 2023 1.63% 1.30% 8.08%
May 11, 2023 2.65% 1.50% 7.69%
May 18, 2023 2.10% 0.55% 8.31%
May 25, 2023 2.13% 1.18% 10.61%
June 1, 2023 2.08% 3.75% 9.63%
June 8, 2023 1.71% 2.56% 8.02%
June 15, 2023 1.90% 2.35% 7.25%
June 23, 2023 2.47% 2.52% 10.17%
June 29, 2023 2.23% 1.86% 9.32%
July 6, 2023 1.86% 0.82% 7.24%
July 13, 2023 1.97% 0.80% 6.84%
July 21, 2023 1.49% 3.01% 7.51%
July 27, 2023 2.15% 2.89% 8.54%
August 3, 2023 2.47% 1.77% 10.98%
August 10, 2023 2.03% 3.20% 13.26%
August 17, 2023 1.83% 3.52% 15.37%
August 24, 2023 1.78% 1.10% 17.13%
August 31, 2023 1.84% 4.34% 13.68%
September 7, 2023 1.96% 3.73% 16.61%
September 14, 2023 1.82% 4.27% 15.22%
September 21, 2023 1.80% 4.27% 21.54%
September 29, 2023 1.44% 4.75% 22.86%
October 5, 2023 2.42% 6.39% 22.62%
October 12, 2023 1.84% 3.73% 18.28%
October 19, 2023 2.38% 2.49% 16.59%
November 2, 2023 2.58% 4.09% 17.72%
November 9, 2023 1.92% 4.52% 20.39%
November 16, 2023 1.75% 4.32% 17.90%
Average 1.86% 1.99% 10.08%

Portfolios Hedged Against > 4.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 1.39% -1.15% 3.16%
July 7, 2022 1.28% 2.23% 1.53%
July 14, 2022 1.35% -0.18% 7.31%
July 21, 2022 1.32% -2.23% 1.02%
July 28, 2022 1.36% -2.62% 1.67%
August 4, 2022 1.73% 0.29% 1.32%
August 11, 2022 1.46% 0.44% -1.13%
August 18, 2022 2.15% -0.18% -3.14%
August 25, 2022 1.93% 0.91% -3.85%
September 1, 2022 1.66% 1.25% 1.33%
September 8, 2022 2.10% 0.20% 1.39%
September 15, 2022 3.40% -0.51% 1.55%
September 22, 2022 1.47% 0.46% 6.57%
September 29, 2022 1.55% -1.87% 12.52%
October 6, 2022 1.63% -0.35% 11.52%
October 14, 2022 2.46% -0.82% 17.30%
October 20, 2022 3.52% -0.70% 14.64%
October 27, 2022 2.79% -0.67% 10.39%
November 3, 2022 2.52% -0.23% 11.85%
November 17, 2022 5.23% 2.86% 7.12%
November 23, 2022 1.75% 3.02% 4.66%
December 8, 2022 1.83% 2.13% 10.15%
December 15, 2022 3.18% -0.06% 15.54%
December 22, 2022 1.86% 5.37% 15.97%
December 29, 2022 1.66% 7.59% 15.57%
January 5, 2023 1.93% 2.13% 18.14%
January 12, 2023 1.85% 2.61% 13.65%
January 19, 2023 1.83% 1.27% 18.47%
February 2, 2023 1.76% -1.03% 9.24%
February 9, 2023 1.78% 3.40% 10.75%
February 16, 2023 1.83% 1.47% 8.92%
February 23, 2023 2.68% 0.61% 11.84%
March 2, 2023 1.69% 7.60% 14.72%
March 9, 2023 1.88% 5.46% 15.09%
March 16, 2023 1.98% 1.92% 13.62%
March 23, 2023 2.74% 0.45% 10.27%
March 31, 2023 2.54% -1.07% 5.18%
April 6, 2023 2.09% -1.87% 5.74%
April 13, 2023 2.41% -0.43% 5.12%
April 20, 2023 1.83% 1.31% 3.01%
April 27, 2023 2.41% -0.06% 0.31%
May 4, 2023 2.17% 0.70% 8.08%
May 11, 2023 2.31% -0.90% 7.69%
May 18, 2023 2.19% 2.69% 8.31%
May 25, 2023 1.65% 2.18% 10.61%
June 1, 2023 1.88% 3.02% 9.63%
June 8, 2023 2.51% 2.65% 8.02%
June 15, 2023 2.69% 4.91% 7.25%
June 23, 2023 2.25% 4.13% 10.17%
June 29, 2023 1.80% 3.87% 9.32%
July 6, 2023 1.63% 4.41% 7.24%
July 13, 2023 1.93% 5.44% 6.84%
July 21, 2023 1.94% 2.35% 7.51%
July 27, 2023 1.71% 4.81% 8.54%
August 3, 2023 1.96% 5.30% 10.98%
August 10, 2023 2.31% 6.39% 13.26%
August 17, 2023 2.43% 5.98% 15.37%
August 24, 2023 2.03% 7.12% 17.13%
August 31, 2023 2.50% 5.56% 13.68%
September 14, 2023 1.99% 6.52% 15.22%
September 21, 2023 2.75% 7.55% 21.54%
September 29, 2023 2.29% 4.68% 22.86%
October 5, 2023 2.12% 5.94% 22.62%
October 12, 2023 1.99% 6.88% 18.28%
October 19, 2023 2.84% 3.89% 16.59%
November 2, 2023 2.36% 7.82% 17.72%
November 9, 2023 1.98% 7.74% 20.39%
November 16, 2023 1.95% 4.60% 17.90%
Average 2.12% 2.43% 10.04%

Portfolios Hedged Against > 5.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 1.66% 0.70% 3.16%
July 7, 2022 1.63% -1.13% 1.53%
July 14, 2022 1.60% -2.43% 7.31%
July 21, 2022 2.21% -0.46% 1.02%
July 28, 2022 1.57% -0.95% 1.67%
August 4, 2022 1.83% 1.65% 1.32%
August 11, 2022 1.85% -2.42% -1.13%
August 18, 2022 2.65% -2.81% -3.14%
August 25, 2022 2.72% -1.01% -3.85%
September 1, 2022 1.90% -0.94% 1.33%
September 8, 2022 3.41% -0.49% 1.39%
September 15, 2022 3.65% -0.28% 1.55%
September 22, 2022 1.48% -0.91% 6.57%
September 29, 2022 1.94% 0.23% 12.52%
October 6, 2022 2.18% -0.74% 11.52%
October 14, 2022 2.32% -2.86% 17.30%
October 20, 2022 3.76% -3.08% 14.64%
October 27, 2022 2.76% 1.14% 10.39%
November 3, 2022 2.19% -0.77% 11.85%
November 10, 2022 2.97% 3.69% 6.39%
November 17, 2022 2.73% 0.31% 7.12%
November 23, 2022 2.24% 1.16% 4.66%
December 8, 2022 2.22% 0.99% 10.15%
December 15, 2022 3.52% -0.12% 15.54%
December 22, 2022 2.70% 2.33% 15.97%
December 29, 2022 2.30% -1.72% 15.57%
January 5, 2023 2.06% 0.88% 18.14%
January 12, 2023 2.12% 1.75% 13.65%
January 19, 2023 2.14% 4.81% 18.47%
February 2, 2023 2.64% 3.71% 9.24%
February 9, 2023 2.21% 3.16% 10.75%
February 16, 2023 2.62% 3.73% 8.92%
February 23, 2023 3.11% 1.40% 11.84%
March 2, 2023 1.94% 8.03% 14.72%
March 9, 2023 2.25% 3.23% 15.09%
March 16, 2023 2.44% -0.03% 13.62%
March 23, 2023 2.34% 0.64% 10.27%
March 31, 2023 2.24% 0.91% 5.18%
April 6, 2023 2.30% 0.50% 5.74%
April 13, 2023 2.25% -0.20% 5.12%
April 20, 2023 2.02% -1.84% 3.01%
April 27, 2023 2.19% 1.90% 0.31%
May 4, 2023 2.43% -0.76% 8.08%
May 11, 2023 2.43% 0.41% 7.69%
May 18, 2023 2.07% 0.89% 8.31%
May 25, 2023 2.14% 3.37% 10.61%
June 1, 2023 2.55% 0.62% 9.63%
June 8, 2023 2.25% 0.34% 8.02%
June 15, 2023 2.27% 4.81% 7.25%
June 23, 2023 2.41% 1.51% 10.17%
June 29, 2023 2.35% 3.24% 9.32%
July 6, 2023 2.31% 1.27% 7.24%
July 21, 2023 2.54% 6.21% 7.51%
July 27, 2023 2.41% 5.34% 8.54%
August 3, 2023 2.55% 6.95% 10.98%
August 10, 2023 2.63% 7.08% 13.26%
August 17, 2023 2.54% 5.40% 15.37%
August 24, 2023 2.21% 6.09% 17.13%
August 31, 2023 2.47% 4.87% 13.68%
September 7, 2023 2.83% 5.49% 16.61%
September 14, 2023 2.46% 7.24% 15.22%
September 21, 2023 2.94% 8.72% 21.54%
September 29, 2023 2.66% 7.34% 22.86%
October 5, 2023 2.75% 8.21% 22.62%
October 12, 2023 3.41% 6.13% 18.28%
October 19, 2023 3.14% 2.99% 16.59%
November 2, 2023 3.56% 4.40% 17.72%
November 9, 2023 2.97% 5.48% 20.39%
November 16, 2023 3.13% 9.60% 17.90%
Average 2.45% 2.10% 10.13%

Portfolios Hedged Against > 6.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 1.82% -0.64% 3.16%
July 7, 2022 2.55% -2.68% 1.53%
July 14, 2022 1.94% -2.27% 7.31%
July 21, 2022 2.50% 2.51% 1.02%
July 28, 2022 1.75% -2.80% 1.67%
August 4, 2022 2.17% -3.03% 1.32%
August 11, 2022 2.40% -3.09% -1.13%
August 18, 2022 2.81% -2.03% -3.14%
August 25, 2022 2.88% -1.99% -3.85%
September 1, 2022 1.99% -2.92% 1.33%
September 8, 2022 3.40% 0.22% 1.39%
September 15, 2022 3.79% 1.23% 1.55%
September 22, 2022 2.13% -5.17% 6.57%
September 29, 2022 1.99% -4.11% 12.52%
October 6, 2022 2.63% -0.67% 11.52%
October 14, 2022 2.58% -1.51% 17.30%
October 20, 2022 4.41% -4.23% 14.64%
October 27, 2022 2.84% 2.12% 10.39%
November 3, 2022 2.53% 2.74% 11.85%
November 10, 2022 2.77% -2.04% 6.39%
November 17, 2022 2.60% -1.85% 7.12%
November 23, 2022 2.57% -3.48% 4.66%
December 8, 2022 2.68% -0.44% 10.15%
December 15, 2022 2.74% 0.75% 15.54%
December 22, 2022 2.31% 0.40% 15.97%
December 29, 2022 2.57% 2.41% 15.57%
January 5, 2023 2.43% 3.31% 18.14%
January 12, 2023 2.79% 1.48% 13.65%
January 19, 2023 2.84% 2.39% 18.47%
February 2, 2023 2.56% 1.71% 9.24%
February 9, 2023 2.48% 2.36% 10.75%
February 16, 2023 2.39% 3.38% 8.92%
February 23, 2023 2.51% 2.48% 11.84%
March 2, 2023 2.95% 2.41% 14.72%
March 9, 2023 2.49% 2.35% 15.09%
March 16, 2023 2.52% 2.33% 13.62%
March 23, 2023 2.45% 1.48% 10.27%
March 31, 2023 2.76% -2.03% 5.18%
April 6, 2023 2.79% 1.60% 5.74%
April 13, 2023 2.78% 0.12% 5.12%
April 20, 2023 3.46% -1.02% 3.01%
April 27, 2023 2.54% 0.97% 0.31%
May 4, 2023 2.71% -1.39% 8.08%
May 11, 2023 2.69% 2.28% 7.69%
May 18, 2023 2.39% 3.59% 8.31%
May 25, 2023 2.26% 4.95% 10.61%
June 1, 2023 2.94% 6.02% 9.63%
June 8, 2023 2.63% 3.98% 8.02%
June 15, 2023 2.91% 7.91% 7.25%
June 23, 2023 2.93% 4.21% 10.17%
June 29, 2023 4.78% 4.93% 9.32%
July 6, 2023 3.07% 4.75% 7.24%
July 13, 2023 3.48% 5.48% 6.84%
July 21, 2023 3.16% 7.02% 7.51%
July 27, 2023 3.13% 9.14% 8.54%
August 3, 2023 2.83% 9.58% 10.98%
August 10, 2023 2.97% 9.40% 13.26%
August 17, 2023 3.10% 7.02% 15.37%
August 24, 2023 2.57% 6.80% 17.13%
August 31, 2023 3.07% 11.36% 13.68%
September 14, 2023 2.83% 10.46% 15.22%
September 21, 2023 3.41% 9.08% 21.54%
September 29, 2023 2.99% 6.01% 22.86%
October 5, 2023 2.98% 5.38% 22.62%
October 12, 2023 3.59% 7.83% 18.28%
October 19, 2023 3.68% 2.61% 16.59%
October 19, 2023 3.68% 2.61% 16.59%
November 2, 2023 3.93% 5.06% 17.72%
November 9, 2023 4.12% 6.14% 20.39%
November 16, 2023 3.78% 9.72% 17.90%
Average 2.84% 2.35% 10.08%

Portfolios Hedged Against > 7.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 2.09% 0.42% 3.16%
July 7, 2022 2.86% 0.05% 1.53%
July 14, 2022 2.60% 0.35% 7.31%
July 21, 2022 3.02% 1.77% 1.02%
July 28, 2022 2.35% -1.23% 1.67%
August 4, 2022 2.26% -0.92% 1.32%
August 11, 2022 2.45% -1.03% -1.13%
August 18, 2022 2.68% -1.55% -3.14%
August 25, 2022 3.07% -2.15% -3.85%
September 1, 2022 2.93% -1.23% 1.33%
September 8, 2022 3.79% -1.75% 1.39%
September 15, 2022 3.82% -2.17% 1.55%
September 22, 2022 2.74% -2.24% 6.57%
September 29, 2022 2.68% -0.64% 12.52%
October 6, 2022 2.88% -0.73% 11.52%
October 14, 2022 3.44% -4.69% 17.30%
October 20, 2022 4.60% -1.52% 14.64%
October 27, 2022 3.57% -1.15% 10.39%
November 3, 2022 3.42% 2.36% 11.85%
November 10, 2022 6.84% 2.27% 6.39%
November 17, 2022 3.33% -0.99% 7.12%
November 23, 2022 3.71% -0.49% 4.66%
December 8, 2022 3.23% -0.09% 10.15%
December 15, 2022 3.25% 0.32% 15.54%
December 22, 2022 3.10% -1.86% 15.97%
December 29, 2022 3.04% 4.64% 15.57%
January 5, 2023 3.08% 0.88% 18.14%
January 12, 2023 3.31% -3.01% 13.65%
January 19, 2023 3.23% -0.55% 18.47%
February 2, 2023 3.31% -0.19% 9.24%
February 9, 2023 2.77% 1.72% 10.75%
February 16, 2023 2.94% 3.62% 8.92%
February 23, 2023 2.93% 2.80% 11.84%
March 2, 2023 3.15% 0.06% 14.72%
March 9, 2023 3.04% 1.10% 15.09%
March 16, 2023 3.01% 2.64% 13.62%
March 23, 2023 3.00% 3.89% 10.27%
March 31, 2023 3.02% -0.99% 5.18%
April 6, 2023 2.94% 4.07% 5.74%
April 13, 2023 3.42% -1.21% 5.12%
April 20, 2023 3.49% -0.09% 3.01%
April 27, 2023 3.60% -3.12% 0.31%
May 4, 2023 3.66% 0.19% 8.08%
May 11, 2023 3.46% 4.78% 7.69%
May 18, 2023 3.19% 8.40% 8.31%
May 25, 2023 4.03% 9.09% 10.61%
June 1, 2023 3.95% 8.72% 9.63%
June 8, 2023 4.10% 9.43% 8.02%
June 23, 2023 4.45% 3.79% 10.17%
June 29, 2023 5.50% 4.57% 9.32%
July 6, 2023 3.98% 5.32% 7.24%
July 13, 2023 4.39% 6.78% 6.84%
July 21, 2023 4.02% 7.86% 7.51%
July 27, 2023 3.50% 7.53% 8.54%
August 3, 2023 3.97% 6.57% 10.98%
August 10, 2023 3.94% 4.61% 13.26%
August 17, 2023 4.99% 8.71% 15.37%
August 24, 2023 2.94% 12.73% 17.13%
August 31, 2023 3.36% 7.63% 13.68%
September 7, 2023 3.77% 10.65% 16.61%
September 14, 2023 3.50% 12.47% 15.22%
September 21, 2023 3.72% 7.62% 21.54%
September 29, 2023 3.51% 2.13% 22.86%
October 5, 2023 3.66% 4.39% 22.62%
October 12, 2023 3.32% 4.65% 18.28%
October 19, 2023 4.15% 3.65% 16.59%
November 2, 2023 4.82% 9.47% 17.72%
November 9, 2023 4.18% 4.99% 20.39%
November 16, 2023 4.02% 10.62% 17.90%
Average 3.48% 2.68% 10.12%

Portfolios Hedged Against > 8.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 2.36% -3.28% 3.16%
July 7, 2022 3.14% -0.81% 1.53%
July 14, 2022 2.99% 0.71% 7.31%
July 21, 2022 3.08% -0.48% 1.02%
July 28, 2022 2.61% -2.03% 1.67%
August 4, 2022 2.63% -0.75% 1.32%
August 11, 2022 2.78% -4.64% -1.13%
August 18, 2022 3.43% -2.76% -3.14%
August 25, 2022 3.51% -2.44% -3.85%
September 1, 2022 3.36% -1.83% 1.33%
September 8, 2022 3.63% 0.36% 1.39%
September 15, 2022 4.11% -3.70% 1.55%
September 22, 2022 2.98% -3.65% 6.57%
September 29, 2022 3.15% 1.27% 12.52%
October 6, 2022 2.95% -2.41% 11.52%
October 14, 2022 3.90% -1.78% 17.30%
October 20, 2022 5.01% -0.46% 14.64%
October 27, 2022 4.74% -3.66% 10.39%
November 3, 2022 5.15% -0.04% 11.85%
November 10, 2022 3.72% 1.55% 6.39%
November 17, 2022 3.12% 1.20% 7.12%
November 23, 2022 4.21% 1.56% 4.66%
December 8, 2022 3.56% -3.53% 10.15%
December 15, 2022 4.15% 0.50% 15.54%
December 22, 2022 3.87% -0.36% 15.97%
December 29, 2022 4.05% -2.11% 15.57%
January 5, 2023 3.72% 1.29% 18.14%
January 12, 2023 4.01% -4.44% 13.65%
January 19, 2023 3.44% -1.66% 18.47%
February 2, 2023 4.09% 2.64% 9.24%
February 9, 2023 4.17% -2.26% 10.75%
February 16, 2023 3.40% 4.22% 8.92%
February 23, 2023 3.62% 0.23% 11.84%
March 2, 2023 4.19% 3.35% 14.72%
March 9, 2023 3.32% 4.48% 15.09%
March 16, 2023 3.77% 5.82% 13.62%
March 23, 2023 3.70% 4.83% 10.27%
March 31, 2023 4.28% 4.25% 5.18%
April 6, 2023 3.58% 1.56% 5.74%
April 13, 2023 4.02% -0.81% 5.12%
April 20, 2023 3.84% -5.41% 3.01%
April 27, 2023 3.82% -2.53% 0.31%
May 4, 2023 4.76% 2.54% 8.08%
May 11, 2023 4.28% 4.48% 7.69%
May 18, 2023 4.73% 5.97% 8.31%
May 25, 2023 4.20% 12.48% 10.61%
June 1, 2023 4.18% 6.87% 9.63%
June 8, 2023 4.33% 10.70% 8.02%
June 15, 2023 4.32% 2.78% 7.25%
June 23, 2023 5.09% 8.21% 10.17%
June 29, 2023 5.53% 7.90% 9.32%
July 6, 2023 4.05% 7.88% 7.24%
July 13, 2023 5.05% 0.77% 6.84%
July 21, 2023 4.05% 6.16% 7.51%
July 27, 2023 3.42% 9.09% 8.54%
August 3, 2023 3.81% 4.08% 10.98%
August 10, 2023 4.48% 8.01% 13.26%
August 17, 2023 4.62% 8.14% 15.37%
August 24, 2023 3.28% 10.18% 17.13%
August 31, 2023 3.19% 2.78% 13.68%
September 7, 2023 3.75% 1.87% 16.61%
September 14, 2023 3.37% 10.91% 15.22%
September 21, 2023 3.85% 8.50% 21.54%
September 29, 2023 3.97% 10.09% 22.86%
October 5, 2023 3.52% 9.62% 22.62%
October 12, 2023 4.12% 5.53% 18.28%
October 19, 2023 3.60% 5.01% 16.59%
November 2, 2023 4.66% 7.32% 17.72%
November 9, 2023 3.69% 1.15% 20.39%
November 16, 2023 4.79% 7.83% 17.90%
Average 3.86% 2.41% 10.08%

Portfolios Hedged Against > 9.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 3.18% -0.74% 3.16%
July 7, 2022 3.39% -0.36% 1.53%
July 21, 2022 3.28% -0.13% 1.02%
July 28, 2022 3.52% 0.71% 1.67%
August 4, 2022 3.82% -3.78% 1.32%
August 11, 2022 3.54% -6.07% -1.13%
August 18, 2022 4.30% -3.54% -3.14%
August 25, 2022 3.81% -6.17% -3.85%
September 1, 2022 3.90% -2.98% 1.33%
September 8, 2022 4.00% -6.58% 1.39%
September 15, 2022 5.14% -6.16% 1.55%
September 22, 2022 3.57% -2.16% 6.57%
September 29, 2022 4.03% -0.66% 12.52%
October 6, 2022 3.42% -3.22% 11.52%
October 14, 2022 4.33% 1.15% 17.30%
October 20, 2022 6.11% -2.59% 14.64%
October 27, 2022 5.93% -1.20% 10.39%
November 3, 2022 3.99% -1.53% 11.85%
November 10, 2022 4.55% 2.59% 6.39%
November 17, 2022 4.27% -0.35% 7.12%
November 23, 2022 4.79% -0.62% 4.66%
December 8, 2022 4.72% 5.97% 10.15%
December 15, 2022 4.78% 10.82% 15.54%
December 22, 2022 4.50% 8.32% 15.97%
December 29, 2022 4.35% 11.52% 15.57%
January 5, 2023 4.25% 0.53% 18.14%
January 12, 2023 4.58% -7.09% 13.65%
January 19, 2023 4.24% 3.78% 18.47%
February 2, 2023 4.55% 4.04% 9.24%
February 9, 2023 4.24% 0.16% 10.75%
February 16, 2023 4.36% 4.50% 8.92%
February 23, 2023 3.74% 4.41% 11.84%
March 2, 2023 4.12% 3.47% 14.72%
March 9, 2023 3.89% 4.52% 15.09%
March 16, 2023 4.04% 2.89% 13.62%
March 23, 2023 4.77% 7.64% 10.27%
March 31, 2023 5.17% 7.04% 5.18%
April 6, 2023 4.74% 1.99% 5.74%
April 13, 2023 5.33% 4.22% 5.12%
April 20, 2023 5.17% 3.20% 3.01%
April 27, 2023 4.80% 2.29% 0.31%
May 4, 2023 5.13% -0.04% 8.08%
May 11, 2023 4.71% 2.05% 7.69%
May 18, 2023 4.81% 7.12% 8.31%
May 25, 2023 4.21% 11.30% 10.61%
June 1, 2023 4.99% 9.38% 9.63%
June 8, 2023 5.15% 3.11% 8.02%
June 15, 2023 5.15% 12.50% 7.25%
June 23, 2023 5.34% 13.88% 10.17%
June 29, 2023 5.81% 8.29% 9.32%
July 6, 2023 3.80% 0.73% 7.24%
July 13, 2023 5.91% 1.02% 6.84%
July 21, 2023 4.42% 7.02% 7.51%
July 27, 2023 5.07% 10.66% 8.54%
August 3, 2023 4.34% 6.61% 10.98%
August 10, 2023 4.25% 3.92% 13.26%
August 17, 2023 4.51% 10.18% 15.37%
August 24, 2023 3.37% 4.31% 17.13%
August 31, 2023 5.40% 6.18% 13.68%
September 7, 2023 3.79% 0.26% 16.61%
September 14, 2023 5.63% 9.57% 15.22%
September 21, 2023 3.75% 4.37% 21.54%
September 29, 2023 3.52% 5.51% 22.86%
October 5, 2023 3.54% 5.23% 22.62%
October 12, 2023 5.05% 8.05% 18.28%
October 19, 2023 4.29% 8.42% 16.59%
November 2, 2023 4.38% 1.93% 17.72%
November 9, 2023 4.53% 2.92% 20.39%
November 16, 2023 4.66% 2.62% 17.90%
Average 4.44% 3.00% 10.12%

Portfolios Hedged Against > 13.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 6.13% -10.22% 3.16%
July 7, 2022 6.46% -4.15% 1.53%
September 8, 2022 7.81% -5.65% 1.39%
September 15, 2022 13.56% -7.88% 1.55%
September 22, 2022 7.51% -2.27% 6.57%
September 29, 2022 6.95% 5.11% 12.52%
October 14, 2022 10.27% -10.54% 17.30%
October 20, 2022 12.30% -6.24% 14.64%
October 27, 2022 12.38% -6.84% 10.39%
November 3, 2022 11.20% -6.59% 11.85%
November 10, 2022 6.53% 9.07% 6.39%
November 17, 2022 5.18% 13.40% 7.12%
November 23, 2022 7.13% 8.93% 4.66%
December 8, 2022 5.64% 5.40% 10.15%
December 15, 2022 7.12% 13.67% 15.54%
December 22, 2022 7.45% 13.68% 15.97%
December 29, 2022 8.11% 16.45% 15.57%
January 5, 2023 6.99% 3.79% 18.14%
January 12, 2023 7.11% 5.11% 13.65%
January 19, 2023 6.93% 15.58% 18.47%
February 9, 2023 8.66% -2.02% 10.75%
February 16, 2023 6.71% 6.93% 8.92%
February 23, 2023 8.15% -0.19% 11.84%
March 2, 2023 7.24% 14.81% 14.72%
March 16, 2023 7.00% 0.33% 13.62%
March 23, 2023 6.33% -7.46% 10.27%
March 31, 2023 6.45% 23.28% 5.18%
April 6, 2023 6.52% 5.38% 5.74%
April 13, 2023 6.44% -10.86% 5.12%
April 20, 2023 7.95% -9.61% 3.01%
April 27, 2023 8.02% -0.03% 0.31%
May 4, 2023 7.93% 9.40% 8.08%
May 11, 2023 5.72% 1.66% 7.69%
May 18, 2023 6.85% -2.26% 8.31%
May 25, 2023 7.29% 6.36% 10.61%
June 1, 2023 6.77% 1.96% 9.63%
June 8, 2023 8.08% 5.38% 8.02%
June 15, 2023 11.46% 5.98% 7.25%
June 23, 2023 9.40% 7.60% 10.17%
June 29, 2023 8.22% 1.71% 9.32%
July 6, 2023 8.32% 6.35% 7.24%
July 13, 2023 9.86% -5.86% 6.84%
July 21, 2023 7.19% 11.23% 7.51%
July 27, 2023 6.29% -3.31% 8.54%
August 3, 2023 7.25% -9.73% 10.98%
August 10, 2023 8.74% -0.96% 13.26%
August 17, 2023 6.58% 5.60% 15.37%
August 24, 2023 7.23% 10.71% 17.13%
August 31, 2023 7.30% -0.82% 13.68%
September 7, 2023 7.67% -0.90% 16.61%
September 14, 2023 9.12% 10.34% 15.22%
September 21, 2023 8.44% 18.09% 21.54%
September 29, 2023 6.66% 19.51% 22.86%
October 5, 2023 7.95% 24.20% 22.62%
October 12, 2023 6.53% -7.39% 18.28%
October 19, 2023 9.37% 21.06% 16.59%
November 2, 2023 5.83% 9.24% 17.72%
November 9, 2023 7.01% 23.61% 20.39%
November 16, 2023 6.91% 22.19% 17.90%
Average 7.77% 4.43% 11.28%

Portfolios Hedged Against > 15.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 5.86% -1.90% 3.16%
July 7, 2022 6.06% 2.36% 1.53%
July 14, 2022 7.42% -2.31% 7.31%
July 21, 2022 6.32% 4.07% 1.02%
July 28, 2022 6.25% 1.46% 1.67%
August 4, 2022 7.82% -7.95% 1.32%
August 11, 2022 7.11% -5.25% -1.13%
August 18, 2022 8.49% -3.02% -3.14%
August 25, 2022 7.15% -7.73% -3.85%
September 1, 2022 7.61% -1.16% 1.33%
September 8, 2022 7.49% -7.06% 1.39%
September 15, 2022 8.12% -1.97% 1.55%
September 22, 2022 6.17% -1.97% 6.57%
September 29, 2022 8.18% -7.86% 12.52%
October 6, 2022 6.13% -3.91% 11.52%
October 14, 2022 8.22% -2.27% 17.30%
October 20, 2022 9.14% -6.10% 14.64%
October 27, 2022 9.08% -2.98% 10.39%
November 3, 2022 6.70% -7.65% 11.85%
November 10, 2022 6.64% -2.19% 6.39%
November 17, 2022 7.29% 4.07% 7.12%
November 23, 2022 7.57% -4.94% 4.66%
December 8, 2022 7.36% -0.17% 10.15%
December 15, 2022 6.93% 11.61% 15.54%
December 22, 2022 7.34% 11.67% 15.97%
December 29, 2022 7.00% 16.96% 15.57%
January 5, 2023 7.42% 2.34% 18.14%
January 12, 2023 6.55% 10.57% 13.65%
January 19, 2023 6.40% 7.39% 18.47%
February 2, 2023 6.59% 0.86% 9.24%
February 9, 2023 6.33% 0.80% 10.75%
February 16, 2023 6.18% 8.29% 8.92%
February 23, 2023 5.98% 3.74% 11.84%
March 2, 2023 6.61% 8.58% 14.72%
March 9, 2023 6.32% 8.33% 15.09%
March 16, 2023 6.60% 2.01% 13.62%
March 23, 2023 5.77% 0.40% 10.27%
March 31, 2023 6.63% 9.15% 5.18%
April 6, 2023 7.07% 8.37% 5.74%
April 13, 2023 7.95% 11.71% 5.12%
April 20, 2023 6.77% 8.18% 3.01%
April 27, 2023 8.79% 10.13% 0.31%
May 4, 2023 8.45% 5.51% 8.08%
May 11, 2023 6.36% 13.14% 7.69%
May 18, 2023 7.04% 9.74% 8.31%
May 25, 2023 7.55% 3.72% 10.61%
June 1, 2023 8.10% 0.17% 9.63%
June 8, 2023 8.23% 4.77% 8.02%
June 15, 2023 8.51% 5.40% 7.25%
June 23, 2023 9.37% 8.42% 10.17%
June 29, 2023 9.93% 3.35% 9.32%
July 6, 2023 7.72% -4.27% 7.24%
July 13, 2023 9.75% 2.97% 6.84%
July 21, 2023 8.25% 6.41% 7.51%
July 27, 2023 8.60% -1.58% 8.54%
August 3, 2023 8.50% 13.06% 10.98%
August 10, 2023 8.66% 14.67% 13.26%
August 17, 2023 7.93% 29.43% 15.37%
August 24, 2023 7.81% 17.66% 17.13%
August 31, 2023 8.09% 13.81% 13.68%
September 7, 2023 7.91% 14.76% 16.61%
September 14, 2023 8.98% 19.76% 15.22%
September 21, 2023 6.76% 16.41% 21.54%
September 29, 2023 5.63% 18.49% 22.86%
October 5, 2023 7.25% 44.95% 22.62%
October 12, 2023 6.96% 27.28% 18.28%
October 19, 2023 6.67% 19.32% 16.59%
November 2, 2023 6.22% 17.64% 17.72%
November 9, 2023 7.35% 24.92% 20.39%
November 16, 2023 7.57% 24.76% 17.90%
Average 7.39% 6.42% 10.08%

Portfolios Hedged Against > 20.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 7.91% 1.72% 3.16%
July 7, 2022 7.98% 3.70% 1.53%
July 14, 2022 10.07% 0.74% 7.31%
July 28, 2022 10.68% -8.49% 1.67%
August 4, 2022 10.63% -5.88% 1.32%
August 6, 2022 12.63% -4.39% 0.87%
August 11, 2022 10.27% -5.41% -1.13%
August 18, 2022 11.93% -11.80% -3.14%
August 25, 2022 11.38% -12.84% -3.85%
September 1, 2022 11.17% -5.07% 1.33%
September 7, 2022 9.76% -1.50% 1.89%
September 8, 2022 11.44% -5.63% 1.39%
September 15, 2022 11.36% -5.93% 1.55%
September 22, 2022 11.17% -5.95% 6.57%
September 29, 2022 10.43% -7.82% 12.52%
October 20, 2022 10.57% -6.59% 14.64%
October 27, 2022 12.00% -3.56% 10.39%
November 3, 2022 9.07% -8.09% 11.85%
November 10, 2022 8.05% -1.01% 6.39%
November 17, 2022 9.16% 7.10% 7.12%
November 23, 2022 8.31% -1.61% 4.66%
December 8, 2022 7.35% 8.28% 10.15%
December 15, 2022 9.61% 15.76% 15.54%
December 22, 2022 8.80% 17.59% 15.97%
December 29, 2022 8.06% 31.92% 15.57%
January 5, 2023 9.66% 15.66% 18.14%
January 12, 2023 8.03% 23.82% 13.65%
January 19, 2023 8.55% 34.09% 18.47%
February 2, 2023 8.83% 0.55% 9.24%
February 9, 2023 8.41% 0.09% 10.75%
February 16, 2023 9.79% 3.75% 8.92%
February 23, 2023 8.58% 8.79% 11.84%
March 2, 2023 8.46% 15.36% 14.72%
March 9, 2023 7.80% 13.18% 15.09%
March 16, 2023 11.12% 7.48% 13.62%
March 23, 2023 9.58% 0.13% 10.27%
March 31, 2023 8.70% 5.41% 5.18%
April 6, 2023 8.86% 7.30% 5.74%
April 13, 2023 9.53% 13.85% 5.12%
April 20, 2023 8.31% 11.94% 3.01%
April 27, 2023 10.47% 4.81% 0.31%
May 4, 2023 10.14% 8.45% 8.08%
May 11, 2023 7.48% 10.19% 7.69%
May 18, 2023 7.43% 1.85% 8.31%
May 25, 2023 9.21% 2.31% 10.61%
June 1, 2023 10.93% -5.72% 9.63%
June 8, 2023 10.32% 3.59% 8.02%
June 15, 2023 11.71% 1.06% 7.25%
June 23, 2023 11.18% 7.02% 10.17%
June 29, 2023 11.23% 7.07% 9.32%
July 6, 2023 9.44% -1.68% 7.24%
July 13, 2023 11.04% -2.32% 6.84%
July 21, 2023 11.76% 3.73% 7.51%
July 27, 2023 11.21% -2.42% 8.54%
August 3, 2023 13.12% 14.74% 10.98%
August 10, 2023 11.11% 20.53% 13.26%
August 17, 2023 10.98% 49.43% 15.37%
August 24, 2023 9.92% 39.63% 17.13%
August 31, 2023 9.97% 30.14% 13.68%
September 7, 2023 10.14% 47.24% 16.61%
September 14, 2023 10.51% 23.90% 15.22%
September 21, 2023 8.44% 47.80% 21.54%
September 29, 2023 8.76% 27.24% 22.86%
October 5, 2023 9.49% 50.65% 22.62%
October 12, 2023 8.87% 20.32% 18.28%
October 19, 2023 9.36% 30.68% 16.59%
November 2, 2023 7.77% 22.22% 17.72%
November 9, 2023 9.14% 38.80% 20.39%
November 16, 2023 9.59% 41.57% 17.90%
Average 9.78% 9.99% 9.84%

Portfolios Hedged Against > 25.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 9.94% -6.23% 3.16%
July 7, 2022 10.96% 5.83% 1.53%
July 14, 2022 13.18% -7.58% 7.31%
July 21, 2022 10.95% 4.56% 1.02%
July 28, 2022 10.24% -8.79% 1.67%
August 4, 2022 13.66% -10.65% 1.32%
August 11, 2022 13.92% -7.58% -1.13%
August 18, 2022 14.61% -11.80% -3.14%
August 25, 2022 14.71% -15.12% -3.85%
September 1, 2022 13.86% 0.28% 1.33%
September 8, 2022 13.56% -8.57% 1.39%
September 15, 2022 12.58% -13.45% 1.55%
September 22, 2022 10.43% -7.00% 6.57%
September 29, 2022 14.67% -12.62% 12.52%
October 6, 2022 12.24% -13.88% 11.52%
October 14, 2022 14.24% -11.55% 17.30%
October 20, 2022 13.70% -9.66% 14.64%
October 27, 2022 14.16% -3.47% 10.39%
November 3, 2022 13.18% -11.19% 11.85%
November 10, 2022 9.17% 0.77% 6.39%
November 17, 2022 10.59% 8.86% 7.12%
November 23, 2022 9.27% -0.70% 4.66%
December 8, 2022 8.58% 10.20% 10.15%
December 15, 2022 11.10% 13.06% 15.54%
December 22, 2022 8.79% 22.09% 15.97%
December 29, 2022 9.06% 28.24% 15.57%
January 5, 2023 11.78% 11.07% 18.14%
January 12, 2023 8.22% 25.50% 13.65%
January 19, 2023 9.91% 39.20% 18.47%
February 2, 2023 14.46% 11.60% 9.24%
February 9, 2023 14.06% -2.56% 10.75%
February 23, 2023 9.65% 18.03% 11.84%
March 2, 2023 9.98% 6.79% 14.72%
March 9, 2023 8.17% 11.05% 15.09%
March 16, 2023 14.07% 9.62% 13.62%
March 23, 2023 12.13% 0.88% 10.27%
March 31, 2023 10.46% 11.87% 5.18%
April 6, 2023 8.79% 16.56% 5.74%
April 13, 2023 9.05% 5.12% 5.12%
April 20, 2023 10.97% 0.88% 3.01%
April 27, 2023 12.05% 3.31% 0.31%
May 4, 2023 9.79% 15.21% 8.08%
May 11, 2023 8.43% 8.00% 7.69%
May 18, 2023 8.40% 7.17% 8.31%
May 25, 2023 9.48% 8.14% 10.61%
June 1, 2023 12.44% -7.15% 9.63%
June 8, 2023 12.68% -0.26% 8.02%
June 15, 2023 13.27% 1.27% 7.25%
June 23, 2023 12.62% 6.39% 10.17%
June 29, 2023 11.60% 6.85% 9.32%
July 6, 2023 10.30% -0.95% 7.24%
July 13, 2023 11.39% -3.56% 6.84%
July 21, 2023 14.32% 3.47% 7.51%
July 27, 2023 10.83% -4.78% 8.54%
August 3, 2023 15.75% 14.26% 10.98%
August 10, 2023 13.01% 15.44% 13.26%
August 17, 2023 11.59% 50.65% 15.37%
August 24, 2023 12.62% 40.81% 17.13%
August 31, 2023 12.48% 33.18% 13.68%
September 7, 2023 10.39% 50.34% 16.61%
September 14, 2023 11.11% 12.77% 15.22%
September 21, 2023 10.85% 51.24% 21.54%
September 29, 2023 11.41% 29.35% 22.86%
October 5, 2023 12.32% 41.96% 22.62%
October 12, 2023 10.32% 33.02% 18.28%
October 19, 2023 9.24% 25.36% 16.59%
November 2, 2023 9.59% 20.20% 17.72%
November 9, 2023 9.33% 44.72% 20.39%
November 16, 2023 10.28% 35.78% 17.90%
Average 11.46% 9.30% 10.10%

Portfolios Hedged Against > 30.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 30, 2022 11.26% -5.73% 3.16%
July 7, 2022 10.19% 4.53% 1.53%
July 14, 2022 12.92% -9.45% 7.31%
July 21, 2022 12.33% 5.41% 1.02%
July 28, 2022 11.33% -10.83% 1.67%
August 4, 2022 15.86% -15.88% 1.32%
August 11, 2022 13.33% -11.33% -1.13%
August 18, 2022 13.80% -10.58% -3.14%
August 25, 2022 15.10% -11.27% -3.85%
September 1, 2022 15.00% -9.55% 1.33%
September 8, 2022 13.68% -16.61% 1.39%
September 15, 2022 13.95% -16.21% 1.55%
September 22, 2022 9.04% -11.95% 6.57%
September 29, 2022 15.87% -15.80% 12.52%
October 14, 2022 20.08% -13.15% 17.30%
October 20, 2022 17.20% -11.83% 14.64%
October 27, 2022 11.06% -9.65% 10.39%
November 3, 2022 12.03% -7.37% 11.85%
November 10, 2022 10.20% 2.14% 6.39%
November 17, 2022 11.47% 12.57% 7.12%
November 23, 2022 10.68% 0.55% 4.66%
December 8, 2022 9.25% 7.07% 10.15%
December 15, 2022 10.44% 8.28% 15.54%
December 22, 2022 9.73% 21.87% 15.97%
December 29, 2022 10.46% 28.57% 15.57%
January 5, 2023 13.68% 10.45% 18.14%
January 12, 2023 9.07% 26.46% 13.65%
January 19, 2023 10.24% 38.58% 18.47%
February 2, 2023 11.48% 10.56% 9.24%
February 9, 2023 10.71% 2.70% 10.75%
February 16, 2023 14.98% 6.69% 8.92%
February 23, 2023 10.37% 17.76% 11.84%
March 2, 2023 10.99% 18.67% 14.72%
March 9, 2023 8.89% 12.36% 15.09%
March 16, 2023 10.25% 8.37% 13.62%
March 23, 2023 8.02% 4.08% 10.27%
March 31, 2023 12.07% 19.11% 5.18%
April 6, 2023 9.72% 17.23% 5.74%
April 13, 2023 10.35% -0.77% 5.12%
April 20, 2023 9.67% 10.02% 3.01%
April 27, 2023 10.41% 5.83% 0.31%
May 4, 2023 10.82% 12.86% 8.08%
May 11, 2023 8.88% 5.30% 7.69%
May 18, 2023 9.10% 4.64% 8.31%
May 25, 2023 10.56% 8.00% 10.61%
June 1, 2023 15.10% -4.93% 9.63%
June 8, 2023 12.76% 11.28% 8.02%
June 15, 2023 12.85% 10.68% 7.25%
June 23, 2023 13.26% 8.26% 10.17%
June 29, 2023 12.21% 4.43% 9.32%
July 6, 2023 11.00% -0.10% 7.24%
July 13, 2023 12.40% 5.25% 6.84%
July 21, 2023 15.04% -0.81% 7.51%
July 27, 2023 11.25% -6.30% 8.54%
August 3, 2023 14.18% 25.30% 10.98%
August 10, 2023 13.88% 21.44% 13.26%
August 17, 2023 12.48% 51.41% 15.37%
August 24, 2023 12.77% 27.99% 17.13%
August 31, 2023 12.01% 29.96% 13.68%
September 7, 2023 11.76% 46.26% 16.61%
September 14, 2023 12.07% 25.23% 15.22%
September 21, 2023 9.12% 55.64% 21.54%
September 29, 2023 13.78% 31.83% 22.86%
October 5, 2023 14.39% 41.09% 22.62%
October 12, 2023 11.57% 40.29% 18.28%
October 19, 2023 10.25% 31.23% 16.59%
November 2, 2023 12.91% 6.14% 17.72%
November 9, 2023 10.28% 44.97% 20.39%
November 16, 2023 11.68% 34.10% 17.90%
Average 11.96% 9.90% 10.06%

Portfolios Hedged Against > 40.0% Declines

Starting Date Expected Return Actual Return SPY Return
June 24, 2022 10.79% -10.62% -0.11%
June 30, 2022 13.24% -2.47% 3.16%
July 7, 2022 12.16% 8.71% 1.53%
July 14, 2022 12.15% -12.29% 7.31%
July 28, 2022 11.91% -10.87% 1.67%
August 4, 2022 16.62% -15.43% 1.32%
August 11, 2022 14.61% -5.12% -1.13%
August 18, 2022 14.91% -8.85% -3.14%
August 25, 2022 15.66% -10.19% -3.85%
September 1, 2022 16.23% -11.83% 1.33%
September 8, 2022 15.33% -4.25% 1.39%
September 15, 2022 15.31% -18.63% 1.55%
September 22, 2022 8.71% -17.81% 6.57%
September 29, 2022 13.57% -19.02% 12.52%
October 6, 2022 12.20% -21.70% 11.52%
October 20, 2022 15.82% -13.20% 14.64%
October 27, 2022 11.53% -15.97% 10.39%
November 3, 2022 14.07% -13.63% 11.85%
November 10, 2022 11.91% 3.85% 6.39%
November 17, 2022 13.72% 14.39% 7.12%
November 23, 2022 12.37% 2.41% 4.66%
December 8, 2022 10.86% 12.09% 10.15%
December 15, 2022 11.84% 14.11% 15.54%
December 22, 2022 11.35% 21.77% 15.97%
December 29, 2022 11.82% 25.27% 15.57%
January 5, 2023 11.28% 19.06% 18.14%
January 12, 2023 10.77% 25.32% 13.65%
January 19, 2023 12.24% 31.04% 18.47%
February 2, 2023 13.11% 14.35% 9.24%
February 9, 2023 12.68% 4.14% 10.75%
February 16, 2023 11.89% 8.36% 8.92%
February 23, 2023 12.05% 18.52% 11.84%
March 2, 2023 12.46% 18.39% 14.72%
March 9, 2023 10.40% 13.48% 15.09%
March 16, 2023 11.41% 8.42% 13.62%
March 23, 2023 8.99% 3.21% 10.27%
March 31, 2023 11.05% 19.99% 5.18%
April 6, 2023 10.97% 17.96% 5.74%
April 13, 2023 11.98% -5.14% 5.12%
April 20, 2023 11.15% 10.77% 3.01%
April 27, 2023 10.60% 4.08% 0.31%
May 4, 2023 11.90% 13.25% 8.08%
May 11, 2023 10.35% 12.84% 7.69%
May 18, 2023 10.45% 3.41% 8.31%
May 25, 2023 11.33% 4.35% 10.61%
June 1, 2023 15.92% 3.06% 9.63%
June 8, 2023 14.28% -0.41% 8.02%
June 15, 2023 14.29% 12.29% 7.25%
June 23, 2023 14.50% 8.54% 10.17%
June 29, 2023 13.50% 5.13% 9.32%
July 6, 2023 12.10% 2.91% 7.24%
July 13, 2023 13.70% 7.88% 6.84%
July 21, 2023 13.94% 12.66% 7.51%
July 27, 2023 12.88% 9.46% 8.54%
August 3, 2023 15.31% 25.59% 10.98%
August 10, 2023 15.22% 22.10% 13.26%
August 17, 2023 14.33% 50.06% 15.37%
August 24, 2023 14.63% 32.95% 17.13%
August 31, 2023 13.68% 31.53% 13.68%
September 7, 2023 12.44% 43.04% 16.61%
September 14, 2023 13.74% 25.42% 15.22%
September 21, 2023 10.43% 50.50% 21.54%
September 29, 2023 12.86% 30.31% 22.86%
October 5, 2023 12.37% 51.52% 22.62%
October 12, 2023 13.47% 30.33% 18.28%
October 19, 2023 11.92% 29.09% 16.59%
November 2, 2023 10.82% 22.00% 17.72%
November 9, 2023 11.98% 43.18% 20.39%
November 16, 2023 10.76% 40.74% 17.90%
Average 12.68% 10.53% 9.96%
See performance data starting June, 2017