Momentum junkie cosplay hiding a value-tilted small cap brawler underneath
Report created on Jun 7, 2026Risk profile
5/7
Diversification profile
5/5
Positions
-
SP State Street® SPDR® Portfolio S&P 500® ETF
SPYM - US78464A8541 30.00% -
SP Invesco S&P 500® Momentum ETF
SPMO - US46138E3392 25.00% -
AV Avantis® U.S. Small Cap Value ETF
AVUV - US0250728773 20.00% -
AV Avantis® International Small Cap Value ETF
AVDV - US0250728021 13.00% -
AV Avantis® Emerging Markets Equity ETF
AVEM - US0250726041 12.00%
This portfolio is five funds that all scream “stocks go up” at slightly different volumes. Two broad US core sleeves eat over half the pie, and the rest is a trio of factor-tilted satellite funds trying to be edgy with small caps and value. It looks diversified on the surface, but structurally it’s one big equity bet with a few knobs turned. The risk score says “growth” and the diversification score says “highly diversified,” which is generous wording for “owns a lot of flavors of the same asset.” It’s streamlined, sure, but very dependent on global equities behaving themselves over time. Any downturn is going to hit this thing straight in the face.
Growth
Historically, this portfolio has been that slightly annoying kid in class who keeps edging out the curve: 17.35% CAGR versus 16.70% for the US market and 14.16% for global. Turning $1,000 into $2,909 over the period is objectively solid. But the max drawdown of -36.45% in early 2020 shows the ride is not exactly gentle. CAGR (compound annual growth rate) is just the “average road trip speed,” while max drawdown is “car went off the road for a bit.” Beating both benchmarks with similar drawdowns is decent, but past returns are yesterday’s weather — very impressive, still not a forecast.
Projection
The Monte Carlo simulation basically throws this portfolio into 1,000 alternate futures and asks, “How bad could this get and how lucky could you be?” Median outcome is $2,689 from $1,000 over 15 years, which is a lot less heroic than the backtest — welcome to more normal assumptions. The grim end of the range has you barely breaking even at $940, while the optimistic universe tops out near $7,956. An average projected return of 7.98% says the future is more “solid but sweaty” than “rocket ship.” Simulations are like movie trailers: helpful for tone, but the final plot can still surprise everyone.
Asset classes
- Stocks 70%
- No data 30%
Asset-class-wise, this thing is basically shouting “EQUITIES OR NOTHING” with 70% in stocks and 30% landing in the mysterious “No data” bucket. Per instructions, we’re not guessing what that mystery chunk is, but from the outside it looks like a portfolio that forgot other asset classes even exist. No explicit ballast, no obvious shock absorbers — if stocks wobble, the whole structure wobbles. True asset-class diversification is mixing assets that behave differently, not just different tickers that all cheer for the same outcome. Here, the entire story lives or dies on how global equities decide to act, which is bold bordering on stubborn.
Sectors
- Technology 21%
- Financials 10%
- Industrials 10%
- Consumer Discretionary 7%
- Energy 6%
- Basic Materials 5%
- Telecommunications 4%
- Health Care 3%
- Consumer Staples 3%
- Utilities 1%
- Real Estate 1%
Sector mix here leans right into the modern market’s drama: 21% in technology, then a more modest spread across financials, industrials, and the rest. This isn’t an outright tech cult, but it’s definitely tech-biased enough that chip earnings calls probably move the portfolio more than anything happening in utilities or staples. A 3% weight in health care and 1% in real estate barely register as seasoning. Sector diversification looks better than a single-theme bet, but it’s still driven by the same growthy engines that dominate broad indexes. When tech sneezes, this portfolio will catch at least a mild cold, if not the full flu.
Regions
- North America 46%
- Asia Developed 6%
- Europe Developed 5%
- Japan 4%
- Asia Emerging 4%
- Africa/Middle East 1%
- Australasia 1%
- Latin America 1%
Geographically, this is “US first, everyone else if they behave themselves.” North America at 46% is the star, while the rest of the world gets scattered crumbs: low single digits per region across developed and emerging markets. The Avantis funds work hard to drag some non-US exposure in, but they’re clearly the side characters, not the leads. This kind of tilt works great when the US is on top and looks less clever when other regions have their turn. It’s not “America or bust,” but it’s definitely “America, and the rest can tag along in the back seat.”
Market capitalization
- Large-cap 16%
- Mega-cap 16%
- Small-cap 15%
- Mid-cap 12%
- Micro-cap 10%
Market cap exposure looks like someone tried to be clever and then stopped halfway: 16% mega-cap, 16% large, 12% mid, 15% small, and a spicy 10% in micro-cap. That’s a lot more love for the tiny end of town than a standard index. This means more companies that can double or halve without asking permission. Small and micro caps are like energetic puppies: fun and sometimes impressive, but also more likely to chew the furniture. The broad spread across sizes does help diversification, but it definitely tilts the ride toward bumpier terrain compared to a straight mega/large-cap portfolio.
True holdings
-
NV NVIDIA Corporation 4.57%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- State Street® SPDR® Portfolio S&P 500® ETF
-
AV Broadcom Inc 2.89%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- State Street® SPDR® Portfolio S&P 500® ETF
-
MU Micron Technology Inc 2.82%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
GO Alphabet Inc Class A 2.26%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- State Street® SPDR® Portfolio S&P 500® ETF
-
AA Apple Inc 1.93%
Part of fund(s):- State Street® SPDR® Portfolio S&P 500® ETF
-
GO Alphabet Inc Class C 1.80%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- State Street® SPDR® Portfolio S&P 500® ETF
-
MS Microsoft Corporation 1.47%
Part of fund(s):- State Street® SPDR® Portfolio S&P 500® ETF
-
AM Amazon.com Inc 1.26%
Part of fund(s):- State Street® SPDR® Portfolio S&P 500® ETF
-
AM Advanced Micro Devices Inc 1.01%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
JN Johnson & Johnson 0.94%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- Top 10 total 20.96%
Look-through holdings reveal the usual suspects running the show: Nvidia, Broadcom, Micron, Alphabet, Apple, Microsoft, Amazon — it’s basically a who’s-who of modern mega-cap growth. Nvidia alone clocks in at 4.57% via ETFs, without any direct position. That’s not outrageous, but it does mean chip stocks are doing a lot of the heavy lifting behind the curtain. Because we only see ETF top-10s, real overlap is probably higher than shown. This isn’t unique-snowflake diversification; it’s multiple wrappers around many of the same giants, plus small/value spice on top. Different funds, same celebrities headlining the concert.
Factors
Factor-wise, the portfolio is loudly value-tilted at 63% while sitting basically neutral on size, momentum, quality, yield, and low volatility. Factor exposure is like checking the ingredient list instead of trusting the marketing — and here the ingredient list says, “value is the main flavor.” That’s slightly hilarious next to a 25% allocation to a momentum ETF, which tries to chase winners, while the value sleeves look for beaten-up bargains. It’s a bit like mixing a bargain-hunter with a trend-chaser in the same brain. The result is a portfolio that will likely react strongly when value cycles in or out of favor, without being a pure momentum rocket.
Risk contribution
-
State Street® SPDR® Portfolio S&P 500® ETF
Weight: 30.00% 28.9% -
Invesco S&P 500® Momentum ETF
Weight: 25.00% 25.2% -
Avantis® U.S. Small Cap Value ETF
Weight: 20.00% 24.7% -
Avantis® International Small Cap Value ETF
Weight: 13.00% 11.0% -
Avantis® Emerging Markets Equity ETF
Weight: 12.00% 10.3%
Risk contribution shows who’s actually rocking the boat, and the top three holdings are doing almost all the shaking: 78.72% of total risk from just 75% of the weight. The US small cap value ETF is especially punchy: 20% weight but 24.66% of risk, with a risk/weight ratio of 1.23. That’s the loud friend at the party. Meanwhile, the international small cap value and emerging markets funds punch slightly below their weight in risk terms. The overall picture: core US and small value sleeves run the volatility show, with the rest mainly decorating the risk profile rather than transforming it.
Risk vs. return
This chart shows the Efficient Frontier, calculated using your current assets with different allocation combinations. It highlights the best balance between risk and return based on historical data. "Efficient" portfolios maximize returns for a given risk or minimize risk for a given return. Portfolios below the curve are less efficient. This is informational and not a recommendation to buy or sell any assets.
Click on the colored dots to explore allocations.
On the efficient frontier chart, this portfolio is basically leaving points on the table. With a Sharpe ratio of 0.71 at 20.16% risk, it sits 2.36 percentage points below what’s achievable using the same ingredients rearranged. The optimal mix of these very same funds hits a Sharpe of 0.98, and even the minimum variance combo beats it at 0.81. Sharpe ratio is just “return per unit of stress,” and this version is working harder than it needs to. The roast here: the funds are fine; the proportions are the inefficient part, like making a decent meal but getting the salt-to-food ratio pretty wrong.
Dividends
- Avantis® International Small Cap Value ETF 2.70%
- Avantis® Emerging Markets Equity ETF 2.10%
- Avantis® U.S. Small Cap Value ETF 1.30%
- Invesco S&P 500® Momentum ETF 0.70%
- State Street® SPDR® Portfolio S&P 500® ETF 1.00%
- Weighted yield (per year) 1.34%
With a total yield of 1.34%, this portfolio clearly did not show up to be a cash-flow machine. The higher-yielding Avantis small value and emerging funds try to chip in with 2–2.7%, but the momentum and S&P core sleeves drag the average back down. This is growth-first, income-second (or maybe third). Dividends can be nice as a built-in drip of return, but here they’re more like background noise than a central feature. Anyone expecting a steady income stream from this collection of tickers is basically asking a sprinter to become a marathon pacer on weekends.
Ongoing product costs
- Avantis® International Small Cap Value ETF 0.36%
- Avantis® Emerging Markets Equity ETF 0.33%
- Avantis® U.S. Small Cap Value ETF 0.25%
- Invesco S&P 500® Momentum ETF 0.13%
- Weighted costs total (per year) 0.17%
Costs are the least embarrassing part of this story. A total TER of 0.17% is very reasonable, especially given the tilt toward factor and international small cap strategies that typically charge more. The Avantis funds are a bit pricier individually, but that’s the usual surcharge for not hugging the index. The momentum and S&P 500 sleeves come in cheaper and keep the weighted average under control. Fees are under control enough that it almost looks like someone paid attention on that one. No obvious “first-class price for economy seat” situation here — more like economy-plus for a slight twist on plain vanilla.
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