Concentrated US growth portfolio with strong technology tilt and historically high but bumpy returns
Report created on May 19, 2026Risk profile
5/7
Diversification profile
2/5
Positions
-
QQ Invesco NASDAQ 100 ETF
QQQM - US46138G6492 40.41% -
AG GROWTH FUND OF AMERICA CLASS A
AGTHX - US3998741066 37.37% -
AA Apple Inc
AAPL - US0378331005 11.11% -
OR Oracle Corporation
ORCL - US68389X1054 11.11%
This portfolio is built around four positions, with two funds doing most of the heavy lifting. The Invesco NASDAQ 100 ETF and Growth Fund of America together make up almost 80% of the total, while direct holdings in Apple and Oracle round out the remaining 20% or so. Everything here is effectively equity exposure, so the ride is tied closely to stock market ups and downs. With only four holdings, any big move in one position can noticeably affect the whole portfolio. This structure lines up with the “growth” risk label and the low diversification score: it is intentionally focused rather than broadly spread across many different types of assets.
Growth
Over the period from late 2020 to mid‑2026, $1,000 in this portfolio grew to about $2,380. That works out to a compound annual growth rate (CAGR) of 16.88%, which is how fast the money grew per year on average. The return beat both the US market and the global market by a meaningful margin. The trade‑off was a max drawdown of about ‑33%, deeper than the broad US market. A drawdown is the worst peak‑to‑trough fall over the period. The fact that 90% of gains came from just 22 days shows how a small number of strong days had an outsized impact, which is typical for concentrated growth‑oriented portfolios.
Projection
The Monte Carlo projection uses past returns and volatility to create 1,000 possible 15‑year futures for the same mix of holdings. It effectively “reshuffles” history to see many different paths, giving a range rather than a single forecast. The median outcome grows $1,000 to about $2,705, while the middle 50% of scenarios land between roughly $1,692 and $4,124. Outcomes span from slight loss to large growth, with an average simulated annual return around 7.95%. This highlights both the potential upside and the real uncertainty. As always, simulations are based on historical patterns that may change, so these numbers are illustrations, not promises of what will happen.
Asset classes
- Stocks 99%
- Not classified 1%
Almost the entire portfolio—about 99%—is invested in stocks, with a tiny slice categorized as “not classified” by the data provider. That means the performance is overwhelmingly driven by equity markets, with no meaningful ballast from bonds or other defensive assets. From a risk point of view, stock‑only allocations usually see larger swings but also more long‑term growth potential than mixed stock‑bond portfolios. Compared with very broad benchmarks that often include some fixed income, this mix is clearly on the growth‑oriented side. That lines up with the higher risk score and helps explain the strong returns and the sizeable drawdown observed in the historical period.
Sectors
- Technology 58%
- Telecommunications 12%
- Health Care 6%
- Consumer Discretionary 6%
- Consumer Discretionary 5%
- Industrials 4%
- Consumer Staples 4%
- Financials 3%
- Basic Materials 1%
- Energy 1%
- Utilities 1%
Sector exposure is heavily tilted toward technology, which makes up about 58% of the portfolio. Telecommunications is the next largest at 12%, with health care, consumer‑focused areas, industrials, and others each taking smaller slices. Compared with broad equity benchmarks that spread more evenly across sectors, this is a pronounced tech emphasis. Tech‑heavy portfolios tend to be more sensitive to changes in interest rates, innovation cycles, and investor sentiment about growth companies. When conditions favor high‑growth, tech‑oriented businesses, returns can be strong, but pullbacks in that part of the market can feed quickly into overall portfolio volatility because so much of the allocation sits in those sectors.
Regions
- North America 96%
- Europe Developed 1%
- Asia Developed 1%
Geographically, this portfolio is overwhelmingly concentrated in North America at about 96%, with only very small exposures to developed Europe and developed Asia. That means results are closely tied to the US and nearby markets, including their economic cycles, interest rate paths, and currency movements. Many global benchmarks spread more capital across multiple regions, whereas this allocation keeps things heavily US‑centric. This can be advantageous when North American markets outperform the rest of the world, which has often been the case recently. On the other hand, it also means that if US‑based equities lag other regions, there is relatively little in this portfolio to offset that underperformance.
Market capitalization
- Mega-cap 62%
- Large-cap 23%
- Mid-cap 11%
- Small-cap 1%
The portfolio tilts strongly toward mega‑cap and large‑cap companies, with roughly 85% in those largest size buckets. Mid‑caps make up about 11%, and small‑caps only around 1%. Market capitalization is simply the total value of a company’s shares, and larger firms often have more stable business models, deeper financing options, and broader global footprints. This size mix aligns fairly well with broad US indices that are also dominated by mega‑cap names. It helps create some stability relative to a portfolio loaded with smaller, more volatile companies, but it can also mean returns are heavily driven by a relatively small set of huge, well‑known businesses that dominate major indices.
True holdings
-
Part of fund(s):
- Invesco NASDAQ 100 ETF
-
-
NV NVIDIA Corporation 3.78%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
MS Microsoft Corporation 2.00%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
AM Amazon.com Inc 1.89%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
MU Micron Technology Inc 1.59%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
GO Alphabet Inc Class A 1.54%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
TS Tesla Inc 1.46%
Part of fund(s):- Invesco NASDAQ 100 ETF
- LS 1x Tesla Tracker ETP Securities GBP
-
GO Alphabet Inc Class C 1.42%
Part of fund(s):- Invesco NASDAQ 100 ETF
-
AV Broadcom Inc 1.37%
Part of fund(s):- Invesco NASDAQ 100 ETF
- Top 10 total 40.16%
Looking through the funds to their top holdings shows meaningful concentration in a few big technology names. Apple stands out at about 14% total exposure when combining the direct position with its presence inside the NASDAQ ETF. Oracle adds another 11% directly, while NVIDIA, Microsoft, Amazon, and others appear via fund holdings in smaller slices. Because only ETF top‑10 holdings are counted, true overlap is probably higher than shown. When the same company appears in multiple holdings, a portfolio can be less diversified than it looks from ticker count alone. Here, the overlap around a handful of large US tech‑related names reinforces the theme of concentrated growth exposure.
Factors
Factor exposures are estimated using statistical models based on historical data and measure systematic (market-relative) tilts, not absolute portfolio characteristics. Results may vary depending on the analysis period, data availability, and currency of the underlying assets.
The factor profile shows mild tilts away from several classic factors like value, size, yield, and low volatility, with neutral readings for momentum and quality. Factors are characteristics—such as cheapness (value), smaller company size, or price stability—that research links to long‑term returns. A low value score means the portfolio leans toward more expensive growth stocks rather than bargain‑priced names. Low size and low volatility readings are consistent with the emphasis on larger, more volatile growth companies. Neutral momentum and quality suggest it behaves somewhat like the broader market on those dimensions, without a strong bias toward recent winners or particularly high‑quality balance sheets.
Risk contribution
-
Invesco NASDAQ 100 ETF
Weight: 40.41% 41.6% -
GROWTH FUND OF AMERICA CLASS A
Weight: 37.37% 34.5% -
Oracle Corporation
Weight: 11.11% 12.6% -
Apple Inc
Weight: 11.11% 11.4%
Risk contribution data shows that the two large funds plus Oracle make up the bulk of overall volatility. The NASDAQ ETF is about 40% of the weight and contributes roughly 42% of total risk, while Growth Fund of America is around 37% of weight and 35% of risk. Oracle, at 11% weight, slightly over‑pulls its weight with about 13% of risk, and Apple’s risk share is almost exactly in line with its allocation. In total, the top three positions drive nearly 89% of portfolio risk. This illustrates how, in concentrated portfolios, position size and volatility combine so that a few holdings really dominate the day‑to‑day ups and downs.
Redundant positions
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High correlationGROWTH FUND OF AMERICA CLASS AInvesco NASDAQ 100 ETF
The correlation view highlights that Growth Fund of America and the NASDAQ 100 ETF move very closely together. Correlation is simply a measure of how often and how strongly two investments move in the same direction. When two holdings are highly correlated, owning both gives less diversification benefit during big market moves—especially downturns—because they tend to fall at the same time. Here, the fact that the two biggest positions behave similarly means the portfolio’s core risk is largely tied to a single pattern of returns. In calmer markets this may not be very noticeable, but in stressful periods it can make drawdowns sharper than in more diversified mixes.
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. The efficient frontier represents the best expected return available for each possible risk level using only the existing holdings but in different weightings. Sharpe ratio, which measures return per unit of risk over the risk‑free rate, is 0.68 for the current mix, compared with 0.91 for the optimal Sharpe point and 0.69 for the minimum‑risk blend. Being near the frontier suggests the current allocation uses its holdings in a broadly efficient way: for this particular set of assets, there is no obvious “free lunch” in terms of much better risk‑adjusted returns through simple reweighting.
Dividends
- Apple Inc 0.40%
- GROWTH FUND OF AMERICA CLASS A 10.10%
- Oracle Corporation 1.10%
- Invesco NASDAQ 100 ETF 0.40%
- Weighted yield (per year) 4.10%
The portfolio’s total dividend yield is about 4.1%, but that average hides big differences across holdings. Apple and the NASDAQ ETF both have yields around 0.4%, and Oracle is close to 1.1%, which are fairly modest payouts for growth‑oriented stocks and funds. In contrast, the Growth Fund of America shows a very high yield figure above 10%, which may reflect special distributions or capital gains being paid out rather than ongoing income. Dividends can be a useful part of total return, but they are only one component—price movements matter at least as much, especially in growth‑tilted portfolios like this one that rely heavily on capital appreciation over time.
Ongoing product costs
- GROWTH FUND OF AMERICA CLASS A 0.59%
- Invesco NASDAQ 100 ETF 0.15%
- Weighted costs total (per year) 0.28%
The blended total expense ratio (TER) for this portfolio is about 0.28% per year, with the NASDAQ ETF at a low 0.15% and the Growth Fund at 0.59%. TER is the annual fee charged by funds as a percentage of assets, quietly subtracted before returns reach the investor. In the context of actively managed growth funds, this overall cost level is moderate and compares reasonably well with many similar products. Lower costs help more of the portfolio’s gross return stay in the account, and over many years even a few tenths of a percent can compound into noticeable differences. Here, costs appear controlled and not a major drag.
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