Concentrated US growth portfolio with strong historic returns and a clear tilt toward technology stocks
Report created on Sep 29, 2026Risk profile
5/7
Diversification profile
2/5
Positions
-
FX Fidelity 500 Index Fund
FXAIX - US3159117502 60.00% -
FN FIDELITY NASDAQ COMPOSITE INDEX FUND
FNCMX - US3159127097 20.00% -
FD Fidelity® High Dividend ETF
FDVV - US3160928400 10.00% -
FT Fidelity® MSCI Information Technology Index ETF
FTEC - US3160928087 10.00%
This portfolio is built from four equity index products, with 60% in a broad US large-cap fund, 20% in a NASDAQ index fund, and 10% each in a high-dividend ETF and a technology ETF. So it’s 100% in stocks, with a strong tilt toward growth and tech, anchored by the S&P 500 core position. This structure keeps things relatively simple while still layering in specific themes like dividends and tech. A key implication is that portfolio behavior will be dominated by US stock market moves, especially the largest growth companies. The high allocation to broad indices is a positive sign for diversification within the US market itself, even though exposure outside US stocks is minimal.
Growth
From 2016-10-03 to 2026-09-25, $1,000 in this portfolio grew to about $4,948, a compound annual growth rate (CAGR) of 17.42%. CAGR is like average speed on a road trip, smoothing out all the stops and speeding tickets into one clean number. Over this period, the portfolio beat the US market by about 1.95 percentage points per year and the global market by 4.73 points. The worst drop (max drawdown) was about -33.24%, very similar to the benchmarks, and it recovered in around four months. That combination of higher return with roughly benchmark-like drawdowns is a notable strength of this mix over this specific decade.
Projection
The Monte Carlo projection looks at many randomized futures based on past return and volatility patterns. Think of it as rerunning market history 1,000 different ways to see a range of outcomes, not to predict a single number. Here, a $1,000 starting amount ends at a median of about $2,684 after 15 years, with a wide possible range from roughly $983 to $8,115. The average simulated annual return is 8.12%, and about 74% of simulations end positive. This highlights both the growth potential and the uncertainty: outcomes cluster around moderate growth but still leave room for flat or even negative real results. As always, these simulations rely on history and can’t capture every future scenario.
Asset classes
- Stocks 100%
All of the portfolio is in one asset class: stocks, at 100%. There’s no allocation to bonds, cash, or alternative assets. That’s very different from multi-asset blends that often mix in bonds to dampen ups and downs. Staying fully in equities typically means higher expected returns over long periods but more pronounced swings along the way, including larger drawdowns during bear markets. For context, many diversified benchmarks include at least some non-equity holdings to smooth volatility. The portfolio’s strong equity focus also means that changes in interest rates or credit markets affect it mainly through how they impact stock valuations, not through direct bond price moves.
Sectors
- Technology 46%
- Financials 10%
- Telecommunications 9%
- Consumer Discretionary 8%
- Health Care 7%
- Industrials 6%
- Consumer Staples 5%
- Utilities 2%
- Real Estate 2%
- Energy 2%
- Consumer Discretionary 1%
- Basic Materials 1%
Sector-wise, technology stands out at about 46% of the equity exposure, far above broad market indices where tech is important but not quite this dominant. Financials, telecom, consumer areas, health care, and industrials are all present at smaller weights, giving a secondary layer of diversification. A tech-heavy tilt can work very well when innovation and growth stocks are in favor, which has helped over the last decade. But it usually comes with more sensitivity to changes in interest rates, regulatory shifts, and sentiment around high-growth business models. The presence of utilities, staples, and energy at modest levels helps, but the headline story remains: this portfolio’s sector risk is clearly anchored in technology.
Regions
- North America 99%
- Europe Developed 1%
Geographically, the portfolio is almost entirely concentrated in North America at 99%, with just about 1% in developed Europe. That is more US-centric than a global market index, where non-US regions make up a large share of total equity value. A strong US focus has been beneficial over the last decade because US large caps, especially tech and growth names, outperformed many other markets. At the same time, this means economic shocks, policy changes, or currency moves tied to the US dollar have an outsized influence on outcomes. There is very little diversification benefit from other economies or currencies in this setup.
Market capitalization
- Mega-cap 48%
- Large-cap 31%
- Mid-cap 17%
- Small-cap 3%
- Micro-cap 1%
By market capitalization, the portfolio leans heavily toward the largest companies: about 48% in mega-cap and 31% in large-cap, with the remainder in mid, small, and micro caps. This roughly mirrors broad US index behavior, where mega and large companies dominate. Large firms often bring more stable earnings, deeper liquidity, and more analyst coverage, which can make them somewhat more resilient than very small companies in stressed markets. On the flip side, smaller-cap segments at 3–4% overall are too small to significantly change performance if they have a strong run. The main takeaway is that the portfolio’s return and risk are mostly driven by the very biggest publicly traded companies.
True holdings
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NV NVIDIA Corporation 2.51%
Part of fund(s):- Fidelity® High Dividend ETF
- Fidelity® MSCI Information Technology Index ETF
-
AA Apple Inc 2.17%
Part of fund(s):- Fidelity® High Dividend ETF
- Fidelity® MSCI Information Technology Index ETF
-
MS Microsoft Corporation 1.56%
Part of fund(s):- Fidelity® High Dividend ETF
- Fidelity® MSCI Information Technology Index ETF
-
AV Broadcom Inc 0.77%
Part of fund(s):- Fidelity® High Dividend ETF
- Fidelity® MSCI Information Technology Index ETF
-
MU Micron Technology Inc 0.44%
Part of fund(s):- Fidelity® MSCI Information Technology Index ETF
-
AM Advanced Micro Devices Inc 0.32%
Part of fund(s):- Fidelity® MSCI Information Technology Index ETF
-
DE Dell Technologies Inc 0.26%
Part of fund(s):- Fidelity® High Dividend ETF
-
JP JPMorgan Chase & Co 0.25%
Part of fund(s):- Fidelity® High Dividend ETF
-
GO Alphabet Inc Class A 0.21%
Part of fund(s):- Fidelity® High Dividend ETF
-
KO The Coca-Cola Company 0.19%
Part of fund(s):- Fidelity® High Dividend ETF
- Top 10 total 8.67%
Looking through the ETFs’ top holdings, there is notable concentration in a handful of mega-cap names: NVIDIA, Apple, Microsoft, Broadcom, and a few other large technology and financial firms. For example, NVIDIA alone shows up at about 2.5% of the portfolio across funds, and Apple at about 2.2%. Because these are held through multiple products, their weight is higher than any single fund’s position would suggest. This is what people often call “hidden overlap.” The coverage data only looks at ETF top-10 positions, so actual overlap is likely higher. The implication is that a small group of familiar giants meaningfully steers returns, reinforcing the overall tech and mega-cap tilt.
Factors
Factor exposures here are mostly neutral across value, size, momentum, quality, and low volatility, meaning the portfolio behaves broadly like the wider market on those dimensions. Factor exposure is like checking what “ingredients” drive performance beyond sectors and countries. The one notable gap is yield, at 34%, which shows a mild tilt away from high-dividend stocks. That’s consistent with the growth and tech focus, since many such companies reinvest earnings rather than paying big dividends. A mostly neutral factor profile can be seen as a sign that returns are driven more by general equity market direction and sector tilts rather than by targeted factor bets like deep value or low-volatility strategies.
Risk contribution
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Fidelity 500 Index Fund
Weight: 60.00% 56.8% -
FIDELITY NASDAQ COMPOSITE INDEX FUND
Weight: 20.00% 22.8% -
Fidelity® MSCI Information Technology Index ETF
Weight: 10.00% 12.5% -
Fidelity® High Dividend ETF
Weight: 10.00% 8.0%
Risk contribution measures how much each position adds to the portfolio’s overall volatility, which can differ from its weight. Here, the core S&P 500 fund is 60% of the assets and contributes about 56.8% of total risk, very much in line with its size. The NASDAQ fund at 20% weight contributes around 22.8% of risk, and the tech ETF at 10% contributes about 12.5%. Together, the top three holdings drive roughly 92% of total portfolio risk. The high-dividend ETF, while 10% of assets, only adds about 8% of risk, acting as a slightly stabilizing component. This pattern shows that risk is quite concentrated in the broad and growth-heavy US equity sleeves.
Redundant positions
-
High correlationFidelity® MSCI Information Technology Index ETFFIDELITY NASDAQ COMPOSITE INDEX FUND
The correlation data highlights that the NASDAQ composite fund and the dedicated technology ETF have moved almost identically in the past. Correlation is a simple measure of how often two investments move in the same direction and by similar amounts. When correlation is very high, owning more of both doesn’t add much diversification; it mostly increases exposure to the same underlying risk. In this case, both funds are heavily linked to large US growth and technology names, so their returns tend to line up. This helps explain why adding the tech ETF mainly amplifies the portfolio’s existing tech and growth characteristics rather than introducing a distinctly different return pattern.
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 chart compares different mixes of the existing holdings, looking for the best trade-off between risk and return. It uses the Sharpe ratio, which measures how much extra return an investor gets for each unit of volatility, after accounting for a risk-free rate. The current portfolio has a Sharpe ratio of 0.72, and it sits on or very near the efficient frontier, which means its risk/return profile is already quite efficient for this specific set of funds. The optimal Sharpe portfolio and minimum-variance version show that alternative weightings could change the balance between risk and return, but they don’t suggest the current mix is meaningfully “off” the frontier.
Dividends
- Fidelity® High Dividend ETF 2.80%
- FIDELITY NASDAQ COMPOSITE INDEX FUND 0.40%
- Fidelity® MSCI Information Technology Index ETF 0.40%
- Fidelity 500 Index Fund 1.00%
- Weighted yield (per year) 1.00%
The overall dividend yield for the portfolio is about 1.0%, with the high-dividend ETF at around 2.8%, and the tech and NASDAQ exposures closer to 0.4%. Yield is simply the cash paid out in dividends over a year, divided by the current investment value. In this portfolio, income plays a secondary role: the main driver of total return has been price appreciation, particularly from growth and tech-oriented holdings. The dedicated dividend ETF does provide a modest income anchor within the mix, but it is not large enough to turn the portfolio into an income-focused strategy. Historically, this lower-yield, higher-growth structure has aligned with the strong capital gains seen in the performance data.
Ongoing product costs
- Fidelity® High Dividend ETF 0.15%
- FIDELITY NASDAQ COMPOSITE INDEX FUND 0.29%
- Fidelity® MSCI Information Technology Index ETF 0.08%
- Fidelity 500 Index Fund 0.02%
- Weighted costs total (per year) 0.09%
Total ongoing costs, measured by the weighted Total Expense Ratio (TER), are about 0.09% per year, which is impressively low. TER is like a small annual service fee taken directly from fund assets. Here, the range runs from 0.02% for the S&P 500 index fund up to 0.29% for the NASDAQ composite fund, but the heavy weight in ultra-low-cost core holdings keeps the blended cost down. Over long periods, low fees are helpful because even tiny percentage differences compound significantly. In this case, cost drag on returns is minimal, so performance is driven mainly by market behavior and allocation choices rather than by expenses eating into gains.
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