Concentrated US growth portfolio with strong tech tilt and efficient risk return tradeoff
Report created on Apr 23, 2026Risk profile
5/7
Diversification profile
2/5
Positions
-
SP SP Funds S&P 500 Sharia Industry Exclusions ETF
SPUS - US8863648015 87.82% -
FG Fidelity Growth Company K6 Fund
FGKFX - US3162007815 11.33% -
SP SP Funds Trust
SPTE - US84612A1016 0.85%
This portfolio is very streamlined, with just three holdings and almost all of the weight in one ETF tracking a Sharia-screened slice of the US market. The second-largest position is an actively managed US growth mutual fund, and the final slice is a small additional ETF. A setup like this is simple to follow and easy to monitor, because most of the behavior comes from one main holding. The trade-off is that diversification across different funds and strategies is limited. In practice, that means the portfolio’s ups and downs will largely mirror that dominant ETF, with the other two holdings adding a bit of extra growth tilt and risk.
Growth
Over the period from late 2023 to April 2026, a hypothetical $1,000 in this portfolio grew to about $1,708. That translates to a compound annual growth rate (CAGR) of 25.26%, meaning the money grew roughly 25% per year on average, similar to calculating average speed on a long trip. This beat both the US and global market benchmarks by just over 4 percentage points per year. The max drawdown of -23.31% shows the steepest peak-to-trough fall, which was deeper than the benchmarks. Only 17 days made up 90% of returns, highlighting how a handful of strong days drove much of the growth.
Projection
The Monte Carlo projection uses past return and volatility patterns to simulate many possible future paths for the portfolio. Think of it as running 1,000 alternate timelines, then seeing how the ending values spread out. Here, the median 15‑year outcome for $1,000 is about $2,784, with a wide “likely” band from roughly $1,833 to $4,200 and more extreme scenarios stretching from about $1,036 to $7,630. The average simulated annual return is 8.19%. These ranges underline that even with strong recent history, future results can vary a lot. Monte Carlo is only as good as the assumptions behind it, and markets don’t always repeat the past.
Asset classes
- Stocks 99%
- Other 1%
Almost the entire portfolio, 99%, is in stocks, with only a tiny 1% in “other” assets. That means the portfolio is fully exposed to equity market risk and return, without the dampening effect that bonds or cash-like holdings can sometimes provide. Equity-heavy allocations often participate more in market growth but can also experience sharper drawdowns when markets fall. Compared with broad multi-asset benchmarks that mix in bonds, this portfolio is clearly tilted toward growth and volatility. The growth risk classification and mid-high risk score align with this stock-dominated structure, so the behavior of the portfolio lines up well with its stated risk label.
Sectors
- Technology 57%
- Health Care 12%
- Telecommunications 7%
- Consumer Discretionary 7%
- Industrials 6%
- Energy 3%
- Consumer Staples 3%
- Basic Materials 3%
- Consumer Discretionary 1%
- Real Estate 1%
Sector exposure is heavily tilted toward technology, which makes up around 57% of the portfolio—well above typical broad-market allocations. Other sectors like health care, telecom, consumer discretionary, industrials, energy, staples, materials, and real estate are present but much smaller. A tech-heavy mix often benefits when innovation-driven companies are in favor and when markets reward fast growth, which fits with the strong recent performance. The flip side is that this kind of portfolio can be more sensitive to changes in interest rates, regulatory news, or sentiment toward growth stocks. Compared with more balanced sector spreads, this concentration is a clear source of both extra return potential and added risk.
Regions
- North America 99%
- Europe Developed 1%
Geographically, the portfolio is almost entirely focused on North America at 99%, with just a small 1% slice in developed Europe. That means performance is closely tied to the US economy, corporate earnings, and the dollar. Many broad global benchmarks have a significant US weighting, but they also hold sizable allocations to other regions. Here, the near-total US concentration simplifies currency exposure and tracking but limits diversification across different economic cycles and policy environments. When the US market leads, this sort of tilt can look very strong. When other regions outperform, the portfolio is unlikely to capture much of that upside because of its narrow regional footprint.
Market capitalization
- Mega-cap 57%
- Large-cap 28%
- Mid-cap 13%
- Small-cap 1%
By market capitalization, the portfolio leans heavily toward the largest companies: about 57% is in mega-caps, 28% in large-caps, 13% in mid-caps, and just 1% in small-caps. Mega- and large-cap stocks are typically more established, widely followed, and liquid, which can reduce some stock-specific risk compared with very small companies. However, heavy concentration in the biggest names can also mean that a handful of giants drive much of the portfolio’s behavior. The modest mid-cap slice adds a bit of diversification and growth potential, while the tiny small-cap share means exposure to that riskier, more volatile segment is minimal. Overall, the size mix broadly resembles a large-cap growth style.
True holdings
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NV NVIDIA Corporation 12.54%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
- SP Funds Trust
-
AA Apple Inc 10.25%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
- SP Funds Trust
-
MS Microsoft Corporation 7.95%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
- SP Funds Trust
-
GO Alphabet Inc Class A 4.98%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
-
AV Broadcom Inc 4.84%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
- SP Funds Trust
-
TS Tesla Inc 2.80%
Part of fund(s):- LS 1x Tesla Tracker ETP Securities GBP
- SP Funds S&P 500 Sharia Industry Exclusions ETF
-
LL Eli Lilly and Company 1.85%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
-
XO Exxon Mobil Corp 1.56%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
-
JN Johnson & Johnson 1.41%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
-
MU Micron Technology Inc 1.28%
Part of fund(s):- SP Funds S&P 500 Sharia Industry Exclusions ETF
- Top 10 total 49.46%
Looking through the funds, several of the same large companies appear across multiple holdings, creating hidden concentration. NVIDIA, Apple, Microsoft, Alphabet, and Broadcom together make up a sizable portion of the total exposure, all accessed via ETFs and the mutual fund. Because only ETF top‑10 holdings are included, actual overlap is probably higher than shown. This kind of duplication can reduce diversification, since moves in a few big tech-related names may dominate performance. On the plus side, these are highly liquid, widely researched companies. But from a risk perspective, the portfolio is more dependent on the fortunes of this small group than the number of total positions might first suggest.
Factors
Factor exposure shows a strong tilt toward quality, with a 61% score compared with a neutral market-like 50%. Quality factors favor companies with strong balance sheets, stable earnings, and higher profitability, which can sometimes cushion performance during stress compared to lower-quality peers. Value exposure is low at 21%, indicating a clear tilt away from cheaper, out-of-favor stocks and toward higher-growth, higher-valuation names. Yield is also low at 28%, so income from dividends is not a primary driver here. Size, momentum, and low volatility sit near neutral, meaning they behave roughly like the broad market. Overall, this suggests a growth-and-quality style rather than a value or income orientation.
Risk contribution
-
SP Funds S&P 500 Sharia Industry Exclusions ETF
Weight: 87.82% 85.7% -
Fidelity Growth Company K6 Fund
Weight: 11.33% 13.2% -
SP Funds Trust
Weight: 0.85% 1.1%
Risk contribution highlights how each holding drives the portfolio’s overall ups and downs. The main ETF, at about 88% weight, contributes roughly 86% of total risk, which is almost perfectly in line with its size. The growth mutual fund is 11% of the portfolio but adds over 13% of the risk, reflecting its slightly more aggressive profile. The smallest ETF is under 1% of assets but still contributes about 1% of risk. All in, the top three holdings account for 100% of risk, with no hidden diversifiers in the background. This structure means the main ETF’s behavior is the key determinant of volatility, with the growth fund adding a noticeable extra layer.
Redundant positions
-
High correlationFidelity Growth Company K6 FundSP Funds S&P 500 Sharia Industry Exclusions ETF
The correlation data shows that the Fidelity Growth Company K6 Fund and the main S&P 500 Sharia ETF move almost identically. Correlation measures how often assets move together, on a scale from -1 to 1; here, they’re effectively in lockstep. In practice, that means the second-largest position doesn’t significantly smooth out the ride of the first—it tends to rise and fall at similar times. Highly correlated holdings can still add value through slightly different stock picks and factor tilts, but they don’t offer much protection during broader market downturns. This fits with the low diversification score and helps explain why equity market swings flow through strongly to the overall portfolio.
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 risk–return chart, the current portfolio sits on or very close to the efficient frontier, which is the curve showing the best achievable return for each risk level using only these holdings. The current Sharpe ratio of 1.07, which measures return per unit of risk above a 4% risk-free rate, is decent but below the maximum Sharpe of 1.51 from a more aggressive mix and below the minimum-variance portfolio’s 1.17. The key takeaway is that the existing allocation is already considered efficient for its chosen risk level. Reweighting could theoretically push it toward higher return or lower volatility, but within this limited set of assets, the current setup isn’t wasting much potential.
Dividends
- SP Funds Trust 0.80%
- SP Funds S&P 500 Sharia Industry Exclusions ETF 0.60%
- Weighted yield (per year) 0.53%
The overall dividend yield of the portfolio is modest at about 0.53%, with the main ETF yielding around 0.60% and the smaller Sharia ETF at 0.80%. That’s well below many broad-market income targets, which is consistent with the growth and quality tilts and heavy exposure to large tech-related names. In a portfolio like this, most of the return is expected to come from price appreciation rather than regular cash payouts. For investors who focus on total return, low yield isn’t necessarily a negative; it just reflects the kind of companies held. It also means that reinvested dividends play a smaller role in compounding compared with higher-yield strategies.
Ongoing product costs
- Fidelity Growth Company K6 Fund 0.45%
- SP Funds Trust 0.55%
- SP Funds S&P 500 Sharia Industry Exclusions ETF 0.45%
- Weighted costs total (per year) 0.45%
The portfolio’s costs are straightforward: both the main S&P 500 Sharia ETF and the growth mutual fund charge a total expense ratio (TER) of 0.45%, while the smaller ETF is at 0.55%. The blended portfolio TER is 0.45%. TER represents the annual fee, expressed as a percentage of assets, that goes to fund management and operating expenses. Over short periods, this may not feel large, but over many years, even small percentage differences can compound into meaningful dollar amounts. Here, costs are moderate rather than ultra-low or high, and given the concentrated structure, they don’t appear to be a major drag relative to the portfolio’s strong recent performance.
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