High growth US large cap portfolio with strong tech and semiconductor concentration
Report created on Apr 27, 2026Risk profile
5/7
Diversification profile
3/5
Positions
-
SP SPDR S&P 500 ETF Trust
SPY - US78462F1030 38.74% -
SP State Street® SPDR® Portfolio S&P 500® ETF
SPYM - US78464A8541 20.94% -
QQ Invesco QQQ Trust
QQQ - US46090E1038 10.84% -
SM VanEck Semiconductor ETF
SMH - US92189F6768 10.40% -
QQ Invesco NASDAQ 100 ETF
QQQM - US46138G6492 8.78% -
MS Microsoft Corporation
MSFT - US5949181045 7.24% -
AA Apple Inc
AAPL - US0378331005 3.06%
This portfolio is built almost entirely from US equity ETFs, with two big S&P 500 funds making up about 60% of the allocation. On top of that, there’s a noticeable tilt to growth and tech through NASDAQ 100 ETFs and a dedicated semiconductor ETF, plus direct positions in Microsoft and Apple. This structure creates a “core and satellite” feel: broad market at the core, with higher-growth themes around it. That’s relevant because the satellites tend to drive more of the excitement and the swings. Overall, this setup leans clearly toward growth-oriented US stocks, with limited exposure to other regions or asset types like bonds or alternatives.
Growth
Over the period from late 2020 to April 2026, a hypothetical $1,000 in this portfolio grew to about $2,493. That translates to a compound annual growth rate (CAGR) of 18.08%, compared with 15.27% for the US market and 13.32% for the global market. CAGR is like your average speed on a long road trip, smoothing out bumps along the way. The trade-off has been a deeper maximum drawdown of about -29.5%, a bit worse than the benchmarks. Only 27 days made up 90% of returns, underscoring how missing a handful of strong days can significantly change long-term outcomes.
Projection
The Monte Carlo projection uses past returns and volatility to simulate 1,000 different paths over 15 years, like rolling the dice on many possible futures. The median outcome shows $1,000 growing to around $2,734, with a wide “likely” range from roughly $1,856 to $4,135. The annualized return across simulations is about 8.03%, noticeably lower than the historical 18% CAGR, reflecting that past returns were unusually strong. Monte Carlo is helpful for visualizing uncertainty, but it depends heavily on historical patterns and assumptions, which may not repeat. So it’s best read as a range of possibilities, not a prediction.
Asset classes
- Stocks 79%
- No data 21%
The portfolio is 79% in stocks, with the remaining 21% labeled as “no data,” which simply means the system couldn’t classify those holdings by asset class. Based on what’s visible, this is clearly an equity-heavy allocation, with no meaningful balancing from asset classes like bonds or cash in the reported data. Asset class mix matters because stocks tend to offer higher potential returns but also larger swings, especially over shorter periods. A high equity share aligns with the “Growth” risk classification and the 5/7 risk score, signaling a willingness to accept ups and downs for potentially higher long-term growth.
Sectors
- Technology 45%
- Telecommunications 7%
- Consumer Discretionary 6%
- Financials 5%
- Health Care 4%
- Industrials 4%
- Consumer Staples 3%
- Energy 1%
- Utilities 1%
- Basic Materials 1%
- Real Estate 1%
Sector-wise, technology dominates at 45%, and semiconductors further amplify that within tech. Other sectors like telecommunications, consumer discretionary, financials, health care, and industrials appear, but with much smaller weights. Compared with broad market benchmarks that are diversified across many industries, this is a clearly tech-heavy, growth-driven profile. Sector exposure matters because different parts of the market react differently to changes in interest rates, regulation, or economic growth. Tech and semiconductors often benefit from innovation and productivity trends but can be more sensitive during periods of rising rates or when growth expectations cool.
Regions
- North America 77%
- Asia Developed 1%
- Europe Developed 1%
Geographically, about 77% of the portfolio sits in North America, with only tiny allocations to developed Asia and Europe. That lines up with the holdings list, which is dominated by US-focused indices and US megacap companies. Compared to global equity benchmarks, where the US is large but not the entire picture, this is a clear home-country tilt. Geography matters because economies, currencies, and political systems can perform differently over time. A strong US focus has been rewarding over the past decade, and this portfolio has benefited from that, but it also means performance is tightly tied to how the US market behaves.
Market capitalization
- Mega-cap 43%
- Large-cap 25%
- Mid-cap 10%
In terms of company size, the portfolio leans heavily toward mega-cap and large-cap stocks, with 43% in mega-caps and 25% in large-caps, plus some mid-cap exposure. This mirrors the construction of major US indices, where the biggest companies dominate the weighting. Market capitalization is important because larger firms tend to have more stable earnings and access to capital, often leading to lower volatility than very small companies. On the flip side, a tilt away from smaller caps can mean less exposure to some of the more explosive growth stories. Here, the portfolio behaves very much like a big-company, blue-chip growth mix.
True holdings
-
Part of fund(s):
- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
Part of fund(s):
- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
NV NVIDIA Corporation 8.26%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
- VanEck Semiconductor ETF
-
AV Broadcom Inc 3.37%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
- VanEck Semiconductor ETF
-
AM Amazon.com Inc 3.30%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
GO Alphabet Inc Class A 2.58%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
GO Alphabet Inc Class C 2.15%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
ME Meta Platforms Inc. 2.08%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
TS Tesla Inc 1.74%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Invesco QQQ Trust
- LS 1x Tesla Tracker ETP Securities GBP
- SPDR S&P 500 ETF Trust
- State Street® SPDR® Portfolio S&P 500® ETF
-
TS Taiwan Semiconductor Manufacturing 1.11%
Part of fund(s):- VanEck Semiconductor ETF
- Top 10 total 44.34%
Looking through the ETFs, there is meaningful overlap in the biggest underlying companies. Microsoft and Apple together account for nearly 20% of the portfolio when combining direct holdings and ETF exposure. NVIDIA, Amazon, Alphabet (both share classes), Meta, Tesla, and Taiwan Semiconductor also appear prominently. Overlap matters because holding the same stock through multiple funds can quietly concentrate risk, even if each fund looks diversified on its own. The look-through coverage is about half the portfolio, and only uses ETF top-10 holdings, so actual overlaps may be somewhat higher than shown, especially among the largest tech names.
Factors
Factor exposure is fairly close to the market across most dimensions, with momentum, quality, yield, and low volatility all in the neutral range. Factor exposure is like checking which underlying “traits” your holdings share, such as fast recent price gains (momentum) or strong balance sheets (quality). The notable tilts here are mildly away from value (36%) and smaller size (39%), which fits a growth-oriented, large-cap US profile. A lower value tilt means the portfolio is less focused on cheaper or more out-of-favor companies, while a lower size score means less exposure to smaller firms that can behave differently from giants during certain market cycles.
Risk contribution
-
SPDR S&P 500 ETF Trust
Weight: 38.74% 32.9% -
State Street® SPDR® Portfolio S&P 500® ETF
Weight: 20.94% 17.5% -
VanEck Semiconductor ETF
Weight: 10.40% 16.5% -
Invesco QQQ Trust
Weight: 10.84% 12.2% -
Invesco NASDAQ 100 ETF
Weight: 8.78% 9.8% - Top 5 risk contribution 88.9%
Risk contribution shows how much each holding adds to overall volatility, which can differ from simple weight. Here, the two S&P 500 ETFs and the semiconductor ETF together contribute about two-thirds of total portfolio risk, even though their combined weight is around 70%. The semiconductor ETF, at 10.4% weight, stands out with a risk/weight ratio of 1.58, meaning it punches well above its size in driving ups and downs. In contrast, the broad S&P 500 funds have risk/weight ratios below 1, acting as relatively steadier anchors. This highlights how specialized, more volatile holdings can dominate the risk picture.
Redundant positions
-
High correlationInvesco NASDAQ 100 ETFInvesco QQQ Trust
-
High correlationSPDR S&P 500 ETF TrustState Street® SPDR® Portfolio S&P 500® ETF
The correlation data highlights two pairs that move almost identically: the two NASDAQ 100 ETFs and the two S&P 500 ETFs. Correlation measures how often assets move together, on a scale from -1 to 1. When two holdings are highly correlated, they tend to rise and fall at the same time, which reduces the diversification benefit between them. In this portfolio, the duplicated exposures essentially reinforce the same underlying index behavior rather than adding different patterns. That’s not inherently a problem, but it means that during market stress, these pairs are likely to move in lockstep, amplifying whatever those indices are experiencing.
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.
The efficient frontier analysis compares the current mix to theoretical portfolios built from the same holdings but with different weights. The current portfolio has a Sharpe ratio of 0.73, while the max-Sharpe (optimal) portfolio is at 1.0 and the minimum-variance version at 0.88. The Sharpe ratio measures return per unit of risk, after accounting for a risk-free rate, like judging how much “payoff” you get for each bump in the ride. The current allocation sits about 1.6 percentage points below the frontier at its risk level, which means, in principle, a different weighting of these same holdings could improve the balance between risk and return.
Dividends
- Apple Inc 0.40%
- Microsoft Corporation 0.80%
- Invesco QQQ Trust 0.40%
- Invesco NASDAQ 100 ETF 0.50%
- VanEck Semiconductor ETF 0.20%
- SPDR S&P 500 ETF Trust 0.80%
- State Street® SPDR® Portfolio S&P 500® ETF 1.10%
- Weighted yield (per year) 0.72%
The portfolio’s total dividend yield is around 0.72%, which is modest compared to many broader equity income strategies. Main contributors include the S&P 500 ETFs, with yields up to about 1.10%, while the tech-heavy NASDAQ and semiconductor ETFs, plus Microsoft and Apple, pay relatively low dividends. Dividend yield represents cash paid out annually as a percentage of the current price, acting as a small “paycheck” on top of price changes. In this portfolio, returns historically have come much more from price growth than from income. That lines up with its growth tilt and focus on companies that often reinvest profits rather than pay them out.
Ongoing product costs
- Invesco QQQ Trust 0.20%
- Invesco NASDAQ 100 ETF 0.15%
- VanEck Semiconductor ETF 0.35%
- SPDR S&P 500 ETF Trust 0.10%
- Weighted costs total (per year) 0.11%
The portfolio’s total expense ratio (TER) comes in at about 0.11%, which is impressively low for an all-ETF-and-stock setup. TER is the annual fee charged by funds, expressed as a percentage of assets, and it quietly reduces returns each year. Most of the ETFs here are index-style products with very competitive fees; the highest is the semiconductor ETF at 0.35%, while the broad S&P 500 fund is just 0.10%. Over long periods, keeping costs this low can meaningfully protect compounding. From a cost perspective, this structure aligns well with best practices for efficient, market-like exposure.
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