Concentrated global equity portfolio emphasizing small cap value and momentum with strong historic growth
Report created on Aug 11, 2026Risk profile
5/7
Diversification profile
4/5
Positions
-
AV Avantis® International Small Cap Value ETF
AVDV - US0250728021 20.00% -
AV Avantis® Emerging Markets Equity ETF
AVEM - US0250726041 20.00% -
AV Avantis® U.S. Small Cap Value ETF
AVUV - US0250728773 20.00% -
ID Invesco S&P International Developed Momentum ETF
IDMO - US46138E2220 20.00% -
SP Invesco S&P 500® Momentum ETF
SPMO - US46138E3392 20.00%
This portfolio is built entirely from five equity ETFs, each at an even 20% weight, which makes the structure easy to understand. All positions are stock-focused, with no bonds or cash buffers, so the portfolio is geared toward growth and can experience noticeable ups and downs. Three funds lean into small cap value, while two focus on momentum in larger companies, creating a mix of different stock “styles.” The even split across the five ETFs keeps any single fund from dominating, which is a positive sign for diversification. At the same time, being 100% in equities means the portfolio’s performance is tightly linked to global stock market conditions.
Growth
From late 2019 to August 2026, a hypothetical $1,000 in this portfolio grew to about $2,890. That translates into a compound annual growth rate (CAGR) of 16.78%, which is the average yearly “speed” of growth over the full period. That’s slightly ahead of the US market benchmark at 16.66% and clearly ahead of the global benchmark at 14.14%. The tradeoff is a maximum drawdown of -37.18% during early 2020, deeper than both benchmarks. Max drawdown is the worst peak‑to‑trough fall, showing how painful the worst period felt. Only 28 days generated 90% of returns, underscoring how missing a handful of strong days can drastically change long‑term outcomes.
Projection
The Monte Carlo projection looks at many possible future paths using historical return and volatility patterns as inputs. Think of it as running 1,000 alternate “what if” timelines for the next 15 years. In these simulations, $1,000 most often ends up around $2,715, with a middle band (half the outcomes) between about $1,806 and $4,195. The wider 5%–95% range, from roughly $967 to $7,736, illustrates how uncertain long‑term results can be, even with the same starting portfolio. The average simulated annual return is 8%, which is more modest than the historical backtest. As always, simulations are models, not promises, and real markets can behave differently from the past.
Asset classes
- Stocks 100%
All of the portfolio is invested in stocks, with 0% in bonds, cash, or alternatives. That creates a very clear asset class profile: high exposure to equity growth, high sensitivity to equity market swings, and no built‑in stabilizers like fixed income. Relative to broad benchmarks that often include some bonds or defensive assets, this is a more growth‑oriented structure. The benefit is full participation in equity upside over long periods. The tradeoff is that portfolio values can drop sharply during market stress because there are no lower‑volatility assets to cushion the blow. This all‑stock approach aligns with the growth classification and helps explain the higher risk score.
Sectors
- Financials 23%
- Technology 21%
- Industrials 15%
- Consumer Discretionary 9%
- Basic Materials 9%
- Energy 7%
- Telecommunications 4%
- Consumer Staples 4%
- Health Care 4%
- Utilities 3%
- Real Estate 1%
Sector exposure is spread across many areas, with Financials at 23% and Technology at 21% being the two largest slices. Industrials, Consumer Discretionary, Basic Materials, and Energy together make up a significant portion, while areas like Health Care, Consumer Staples, and Utilities are smaller. Compared with a typical global index, this mix leans more toward cyclical and economically sensitive sectors and slightly less toward traditionally defensive ones. That can lead to stronger performance when the economy is expanding but more pronounced moves when growth slows. The relatively balanced presence across ten sectors is a positive sign for diversification, even though the tilt toward pro‑growth areas can amplify volatility.
Regions
- North America 45%
- Europe Developed 18%
- Asia Developed 11%
- Japan 11%
- Asia Emerging 7%
- Africa/Middle East 3%
- Australasia 2%
- Latin America 2%
- Europe Emerging 1%
Geographically, the portfolio is global, with around 45% in North America and the rest spread across Europe, Japan, developed Asia, emerging Asia, and smaller allocations to Africa/Middle East, Latin America, and Australasia. This is more internationally diversified than many US‑heavy portfolios and closer to global equity market patterns, although North America still anchors the exposure. Compared with a pure world index, there is a meaningful emphasis on developed markets outside the US and on emerging regions. This broad spread reduces reliance on any single economy or currency, which is a strength. At the same time, regional cycles can differ, so performance will reflect a blend of global economic trends.
Market capitalization
- Mega-cap 28%
- Large-cap 24%
- Small-cap 19%
- Mid-cap 18%
- Micro-cap 11%
Market capitalization exposure spans the full spectrum: 28% in mega‑caps, 24% in large‑caps, 18% in mid‑caps, 19% in small‑caps, and 11% in micro‑caps. That’s a clear tilt toward smaller companies compared with mainstream indices that are dominated by mega‑ and large‑caps. Smaller stocks often show more volatile price swings and can be more sensitive to economic conditions, but historically they have also been associated with periods of higher returns. The balanced presence of mid‑ and large‑caps provides some stability, while the meaningful small and micro‑cap slice injects extra growth potential and risk. Overall, the size mix matches the portfolio’s “growthy” and factor‑tilted character.
True holdings
-
MU Micron Technology Inc 1.96%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
NV NVIDIA Corporation 1.77%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
AV Broadcom Inc 1.44%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
TS Taiwan Semiconductor Manufacturing 1.28%
Part of fund(s):- Avantis® Emerging Markets Equity ETF
-
00 SK Hynix Inc 1.21%
Part of fund(s):- Avantis® Emerging Markets Equity ETF
-
23 Taiwan Semiconductor Manufacturing Co. Ltd. 0.99%
Part of fund(s):- Avantis® Emerging Markets Equity ETF
-
SM Samsung Electronics Co. Ltd 0.96%
Part of fund(s):- Avantis® Emerging Markets Equity ETF
-
HS HSBC Holdings PLC 0.94%
Part of fund(s):- Invesco S&P International Developed Momentum ETF
-
GO Alphabet Inc Class A 0.91%
Part of fund(s):- Invesco S&P 500® Momentum ETF
-
JN Johnson & Johnson 0.89%
Part of fund(s):- Invesco S&P 500® Momentum ETF
- Top 10 total 12.36%
Looking through the ETFs’ top 10 holdings, about a quarter of the portfolio’s value is visible in the data, so overlap here is only a partial picture. Within that slice, there’s a noticeable cluster in large technology and semiconductor names such as Micron, NVIDIA, Broadcom, and Taiwan Semiconductor (appearing in two slightly different listings). Several of these show up via multiple funds, which creates some hidden concentration in specific companies and themes. That means a relatively small set of big tech‑related holdings can have an outsized influence on returns compared with their apparent weight. Still, because 75% of holdings are outside the visible top 10 lists, true overlap is likely more spread out than it appears.
Factors
Factor exposure shows clear tilts. Value is at 67% and size at 60%, both in the “High” range, meaning the portfolio leans toward cheaper stocks and smaller companies relative to the broad market (where 50% is neutral). Factor exposure is like checking which “traits” your portfolio prefers. A strong value tilt tends to favor stocks with lower prices relative to fundamentals, which may shine when markets rotate away from expensive growth. The size tilt adds more exposure to smaller firms, which can be more volatile but historically have had periods of strong outperformance. Momentum, quality, yield, and low volatility are all near neutral, so the portfolio’s personality is mainly driven by its value and size tilts.
Risk contribution
-
Avantis® U.S. Small Cap Value ETF
Weight: 20.00% 24.2% -
Invesco S&P 500® Momentum ETF
Weight: 20.00% 20.0% -
Avantis® Emerging Markets Equity ETF
Weight: 20.00% 18.9% -
Invesco S&P International Developed Momentum ETF
Weight: 20.00% 18.6% -
Avantis® International Small Cap Value ETF
Weight: 20.00% 18.3%
Risk contribution looks at how much each ETF adds to the portfolio’s overall ups and downs, which can differ from its weight. Here, all funds are equally weighted at 20%, but the Avantis U.S. Small Cap Value ETF contributes about 24.21% of total risk, more than its share by allocation. Its risk/weight ratio of 1.21 signals that it’s a relatively more volatile piece. The two momentum ETFs together contribute about 38.6% of risk, closely matching their combined 40% weight. Overall, the top three positions by risk account for 63.07% of total volatility, which is a moderate concentration. This pattern is typical when one or two more volatile strategies sit alongside broadly diversified funds.
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 compares different mixes of these same five ETFs to see which combinations historically gave the best tradeoff between risk and return. The Sharpe ratio, a measure of risk‑adjusted return, is 0.7 for the current portfolio. The “optimal” mix on this frontier reaches a Sharpe of 0.96 with slightly higher risk and return, while the minimum‑variance mix has a Sharpe of 0.85 with lower volatility. The current allocation sits about 2.12 percentage points below the frontier at its risk level, meaning it hasn’t historically made the most efficient use of these ingredients. Importantly, this is about reweighting the existing funds, not adding new ones, and all of it relies on past data that may not repeat.
Dividends
- Avantis® International Small Cap Value ETF 2.70%
- Avantis® Emerging Markets Equity ETF 1.90%
- Avantis® U.S. Small Cap Value ETF 1.20%
- Invesco S&P International Developed Momentum ETF 3.50%
- Invesco S&P 500® Momentum ETF 0.70%
- Weighted yield (per year) 2.00%
The overall dividend yield for the portfolio is around 2.0%, combining a 3.5% yield from the international developed momentum ETF, moderate yields from the international small cap value and emerging markets funds, and a lower 0.7% from the S&P 500 momentum ETF. Dividend yield is the annual cash payout as a percentage of current price, like interest from a savings account but less predictable. A 2% yield provides a steady but modest income stream that can complement price gains. For an equity‑heavy, growth‑oriented mix, this level of yield is quite typical. Most of the long‑term return here is likely to come from capital appreciation rather than income.
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 International Developed Momentum ETF 0.25%
- Invesco S&P 500® Momentum ETF 0.13%
- Weighted costs total (per year) 0.26%
The portfolio’s weighted total expense ratio (TER) is about 0.26%, based on individual fund fees ranging from 0.13% to 0.36%. TER is the annual fee charged by each ETF, expressed as a percentage of assets, quietly deducted inside the fund. For a specialized, factor‑tilted global equity mix, this overall cost level is impressively low and compares favorably with many actively managed strategies. Lower ongoing costs mean more of the portfolio’s gross return stays in the investor’s pocket and can compound over time. Given the complexity of the underlying strategies (value, small cap, momentum), achieving this fee level is a structural strength of the portfolio.
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