Concentrated US large cap growth portfolio with strong historic returns and tech driven characteristics
Report created on May 7, 2026Risk profile
5/7
Diversification profile
2/5
Positions
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JL JPMORGAN LARGE CAP GROWTH FUND CLASS R6
JLGMX - US48121L8413 60.00% -
VO Vanguard S&P 500 ETF
VOO - US9229083632 40.00%
This portfolio is very simple: two positions and 100% in stocks. About 60% sits in an actively managed large‑cap growth mutual fund, and 40% in a broad S&P 500 ETF. That means most of the behaviour is driven by one growth‑focused fund, with a diversified index fund as the supporting piece. A structure like this is easy to follow because there are few moving parts, but the diversification score confirms it is relatively low in variety. The mix leans heavily into one style (US large growth) rather than spreading across many regions, sizes, or asset types, so the overall ride will tend to track the fortunes of big US growth companies.
Growth
Over the decade shown, $1,000 grew to about $9,896, which is extremely strong. The portfolio’s CAGR, or compound annual growth rate, is 25.84% — that’s like averaging that percentage every year, even though real returns bounced around. It clearly outpaced both the US market and the broader global market by wide margins. The max drawdown of around -32% during early 2020 was sharp but actually a bit milder than the benchmarks, and the recovery was quick. One key detail: 90% of the gains came from just 50 days, showing returns were very concentrated in a small number of strong market sessions.
Projection
The Monte Carlo projection looks forward 15 years using many possible paths based on historical patterns. Monte Carlo is basically a simulation engine: it shakes the data thousands of times to see a range of plausible futures, not just one forecast. Here, the median outcome grows $1,000 to about $2,747, with a pretty wide “likely” band from roughly $1,788 to $4,138. The annualized return across simulations is 8.21%, noticeably below the historic 25%+ CAGR, which reflects more conservative expectations. As always, these are just modelled scenarios; markets rarely follow neat averages, and future conditions can differ a lot from the past.
Asset classes
- Stocks 100%
All of this portfolio is in one asset class: stocks. There is no allocation to bonds, cash, or alternatives, so there is no built‑in cushion from less volatile assets during equity market downturns. Being 100% in equities is what drives the “growth” risk classification and the middling‑high risk score. When stocks broadly do well, this kind of structure can participate fully in the upside; when they struggle, there is nothing here designed to offset that. Compared with a multi‑asset mix that blends stocks and bonds, this is a more focused, higher‑beta way to get exposure to market growth.
Sectors
- Technology 36%
- Health Care 13%
- Telecommunications 12%
- Financials 9%
- Industrials 9%
- Consumer Staples 6%
- Consumer Discretionary 5%
- Consumer Discretionary 4%
- Energy 2%
- Utilities 1%
- Real Estate 1%
- Basic Materials 1%
Sector-wise, technology dominates at 36%, followed by meaningful allocations to health care, telecom, financials, and industrials, with smaller slices in other sectors. This is more tech‑heavy than many broad benchmarks, which helps explain the strong past growth: tech has been a major driver of market gains. A higher tech share can also mean more sensitivity to changes in interest rates, innovation cycles, and sentiment around growth companies. The presence of several non‑tech sectors is helpful, though, because it introduces some balance and means the portfolio isn’t a single‑sector bet, even if tech is the clear lead actor.
Regions
- North America 98%
- Asia Developed 1%
- Asia Emerging 1%
Geographically, the exposure is overwhelmingly US‑centric, with 98% in North America and only tiny allocations to developed and emerging Asia. That is much more concentrated than a global equity benchmark, where non‑US markets represent a large share of total world stock value. A strong US tilt has worked well in the period shown, since US large caps outperformed many other regions. The flip side is higher dependence on one economy, one currency, and one policy environment. If other regions lead in future, this portfolio’s results will still mostly follow US market conditions rather than global diversification.
Market capitalization
- Mega-cap 51%
- Large-cap 33%
- Mid-cap 11%
By market cap, this portfolio leans strongly into large companies: 51% mega‑cap, 33% large‑cap, and 11% mid‑cap, with very little smaller‑company exposure. Mega‑caps are the giants of the market, often more stable and widely followed, and they tend to dominate index returns when a few big names are on a strong run. This structure lines up closely with how major US indices behave, but with an extra growth tilt. Limited mid‑cap and effectively no small‑cap exposure means the portfolio may miss some of the unique growth or volatility patterns that come from smaller, more niche businesses.
True holdings
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NV NVIDIA Corporation 3.03%
Part of fund(s):- Vanguard S&P 500 ETF
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AA Apple Inc 2.66%
Part of fund(s):- Vanguard S&P 500 ETF
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MS Microsoft Corporation 1.97%
Part of fund(s):- Vanguard S&P 500 ETF
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AM Amazon.com Inc 1.46%
Part of fund(s):- Vanguard S&P 500 ETF
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GO Alphabet Inc Class A 1.20%
Part of fund(s):- Vanguard S&P 500 ETF
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AV Broadcom Inc 1.05%
Part of fund(s):- Vanguard S&P 500 ETF
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GO Alphabet Inc Class C 0.96%
Part of fund(s):- Vanguard S&P 500 ETF
-
ME Meta Platforms Inc. 0.90%
Part of fund(s):- Vanguard S&P 500 ETF
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TS Tesla Inc 0.75%
Part of fund(s):- LS 1x Tesla Tracker ETP Securities GBP
- Vanguard S&P 500 ETF
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BR Berkshire Hathaway Inc 0.63%
Part of fund(s):- Vanguard S&P 500 ETF
- Top 10 total 14.60%
Looking through to the biggest underlying holdings, a familiar group of large US names stands out: NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, Meta, Tesla, and Berkshire Hathaway. These appear via the funds rather than as direct single‑stock positions. Because both holdings invest in similar large‑cap growth leaders, the same companies can show up multiple times, creating hidden concentration. The top‑10 overlap only covers about 15% of the portfolio, so the true overlap is likely higher. This means those big tech and platform companies can have an outsized influence on returns, even though they’re held indirectly.
Factors
On factor exposure, the standout tilt is Momentum at 61%, flagged as “High.” Momentum means the portfolio leans toward stocks that have recently done well, a style that can amplify gains when trends persist but can hurt more if leadership suddenly reverses. Value, Size, Quality, and Low Volatility all sit in the neutral band around market‑like levels, so there aren’t strong tilts there. Yield is mildly low at 38%, consistent with a growth‑oriented approach that focuses more on price appreciation than income. Overall, this looks like a classic growth‑momentum profile rather than a deep value or high‑dividend strategy.
Risk contribution
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JPMORGAN LARGE CAP GROWTH FUND CLASS R6
Weight: 60.00% 68.5% -
Vanguard S&P 500 ETF
Weight: 40.00% 31.6%
Risk contribution shows how much each holding drives the portfolio’s ups and downs, which can differ from simple weight. Here, the JPMorgan growth fund is 60% of assets but contributes about 68% of overall risk, meaning it’s a bit more volatile or differently correlated than the S&P 500 ETF. The Vanguard ETF, at 40% weight, contributes only about 32% of risk. So, despite having two holdings, risk is still fairly concentrated in the active growth fund. This is consistent with a growth tilt: the actively managed piece is the main engine of both return potential and fluctuation.
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 suggests this portfolio is already on or very close to the best possible risk/return trade‑off using its two existing holdings. The Sharpe ratio, which compares extra return to volatility, is 0.96 for the current mix, while the mathematically “optimal” mix has 1.16. That higher Sharpe comes with both higher expected return and slightly higher risk. The minimum‑variance option reduces risk to 18.01% but also lowers expected return. The key insight: within this two‑fund universe, the current allocation is already quite efficient for its chosen risk level, not an obviously suboptimal mix.
Dividends
- JPMORGAN LARGE CAP GROWTH FUND CLASS R6 10.60%
- Vanguard S&P 500 ETF 1.10%
- Weighted yield (per year) 6.80%
Dividend yield for the overall portfolio is shown as 6.80%, driven largely by a very high reported yield for the JPMorgan growth fund and a modest 1.10% yield from the S&P 500 ETF. Dividend yield is the cash income paid out each year as a percentage of the investment value. For a growth‑focused equity mix, such a high combined yield is unusual and may reflect special distributions or how the data is captured. In any case, the main engine of returns historically has been price growth rather than income, so dividends appear as an extra component, not the core objective.
Ongoing product costs
- JPMORGAN LARGE CAP GROWTH FUND CLASS R6 0.44%
- Vanguard S&P 500 ETF 0.03%
- Weighted costs total (per year) 0.28%
The total expense ratio (TER) for the portfolio averages about 0.28% per year, blending the 0.44% cost of the JPMorgan fund with the very low 0.03% fee on the Vanguard ETF. TER is the ongoing annual fee charged by funds, taken out of returns before you see them. Relative to many actively managed growth strategies, 0.28% is reasonably low, especially given the high‑cost piece is in a cheaper institutional share class (R6). Over long periods, even small fee differences compound, so keeping costs at this level helps more of the portfolio’s gross performance show up in net returns.
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