Hard Assets Performance Report

monthly rebalance · Benchmark: SPY · 2012-10-01 to 2026-08-17

Hypothetical backtested results. Not actual trading. May not include all costs or reflect real‑world conditions. Past performance does not guarantee future results. Trading involves risk, including loss of principal.

Portfolio Growth

Growth of $100,000 — logarithmic scale

Drawdown

Decline from the prior peak, on daily equity

Performance Summary

MetricHard AssetsSPY
Start Balance$100,000$100,000
End Balance$11,453,283$693,205
Annualized Return (CAGR)40.88%15.03%
Standard Deviation28.82%14.11%
Best Year74.49%32.31%
Worst Year-9.60%-18.18%
Maximum Drawdown (Daily)-30.07% (2022-12-07)-33.72% (2020-03-23)
Maximum Drawdown (Monthly)-23.16% (2023-02-28)-23.93% (2022-09-30)
Sharpe Ratio1.250.92
Sortino Ratio2.411.32
Benchmark Correlation0.161.00

Sharpe and Sortino use returns in excess of the 3-month T-bill (FRED DGS3MO), averaging 1.81% a year over this window; Sortino's downside deviation is measured below that same rate.

Annual Returns (2012–2026)

Year Strategy ReturnBalance SPY ReturnBalance
202618.94%$9,097,47610.13%$658,014
202568.10%$7,649,00417.72%$597,488
202455.58%$4,550,34124.89%$507,554
20234.05%$2,924,83826.18%$406,412
202274.12%$2,811,073-18.18%$322,100
202154.67%$1,614,40928.73%$393,647
202074.49%$1,043,78118.33%$305,795
201924.65%$598,18331.22%$258,422
201813.86%$479,875-4.57%$196,933
201771.43%$421,45821.71%$206,361
201618.19%$245,84812.00%$169,558
20154.40%$208,0091.23%$151,394
201449.20%$199,24313.46%$149,548
201347.72%$133,53932.31%$131,802
2012-9.60%$90,401-0.38%$99,618

Monthly Returns

YearMonth StrategyBalance SPYBalance Holdings
20262026-0812.53%$10,236,9713.43%$680,590QLD 100%
20262026-07-13.53%$9,097,4760.03%$658,014QLD 100%
20262026-06-1.66%$10,520,758-1.03%$657,785QLD 100%
20262026-0521.48%$10,698,4405.26%$664,626QLD 100%
20262026-0432.87%$8,806,70910.51%$631,398QLD 100%
20262026-03-10.26%$6,628,122-4.94%$571,374QLD 100%
20262026-02-5.19%$7,386,105-0.86%$601,054QLD 100%
20262026-011.85%$7,790,2281.47%$606,293QLD 100%
20252025-12-1.92%$7,649,0040.08%$597,488QLD 100%
20252025-11-3.92%$7,798,6130.20%$597,011QLD 100%
20252025-108.95%$8,116,8132.38%$595,849QLD 100%
20252025-0910.48%$7,450,0043.56%$581,977QLD 100%
20252025-081.18%$6,743,1602.05%$561,959QLD 100%
20252025-074.30%$6,664,4472.30%$550,660QLD 100%
20252025-0612.52%$6,389,7705.14%$538,263QLD 100%
20252025-05-1.34%$5,678,9206.28%$511,956UGL 100%
20252025-049.03%$5,756,028-0.87%$481,684UGL 100%
20252025-0319.27%$5,279,435-5.57%$485,897UGL 100%
20252025-02-6.00%$4,426,326-1.27%$514,568QLD 100%
20252025-013.48%$4,708,8302.69%$521,185QLD 100%
20242024-120.08%$4,550,341-2.41%$507,554QLD 100%
20242024-1110.10%$4,546,5905.96%$520,067QLD 100%
20242024-10-2.40%$4,129,367-0.89%$490,799QLD 100%
20242024-099.74%$4,231,0482.10%$495,218UGL 100%
20242024-083.30%$3,855,5532.34%$485,030UGL 100%
20242024-079.80%$3,732,4471.21%$473,956UGL 100%
20242024-06-0.95%$3,399,3113.53%$468,285UGL 100%
20242024-0512.36%$3,431,9625.06%$452,327QLD 100%
20242024-04-9.33%$3,054,570-4.03%$430,550QLD 100%
20242024-031.74%$3,368,8073.27%$448,639QLD 100%
20242024-0210.03%$3,311,2255.22%$434,432QLD 100%
20242024-012.89%$3,009,5051.59%$412,885QLD 100%
20232023-1210.72%$2,924,8384.57%$406,412QLD 100%
20232023-11-16.95%$2,641,5739.13%$388,667TBT 100%
20232023-1011.14%$3,180,833-2.17%$356,137TBT 100%
20232023-09-10.21%$2,861,948-4.74%$364,039QLD 100%
20232023-08-3.98%$3,187,256-1.63%$382,167QLD 100%
20232023-077.22%$3,319,4973.27%$388,481QLD 100%
20232023-0612.32%$3,095,8906.48%$376,168QLD 100%
20232023-05-3.50%$2,756,3900.46%$353,275UGL 100%
20232023-041.02%$2,856,4511.60%$351,652UGL 100%
20232023-0318.79%$2,827,7343.71%$346,123QLD 100%
20232023-02-1.74%$2,380,499-2.51%$333,748QLD 100%
20232023-01-13.82%$2,422,7126.29%$342,356TBT 100%
20222022-124.77%$2,811,073-5.76%$322,100TBT 100%
20222022-11-13.40%$2,682,9975.56%$341,797TBT 100%
20222022-1013.11%$3,098,0178.13%$323,797TBT 100%
20222022-0917.86%$2,738,964-9.24%$299,458TBT 100%
20222022-089.05%$2,323,943-4.08%$329,962TBT 100%
20222022-07-5.35%$2,131,0719.21%$343,997TBT 100%
20222022-061.95%$2,251,617-8.25%$314,991TBT 100%
20222022-053.26%$2,208,5640.23%$343,299TBT 100%
20222022-045.64%$2,138,820-8.78%$342,526DBC 100%
20222022-039.17%$2,024,6153.76%$375,482DBC 100%
20222022-026.47%$1,854,473-2.95%$361,879DBC 100%
20222022-017.89%$1,741,822-5.27%$372,885DBC 100%
20212021-121.61%$1,614,4094.62%$393,647QLD 100%
20212021-113.63%$1,588,839-0.80%$376,246QLD 100%
20212021-1016.17%$1,533,1647.02%$379,294QLD 100%
20212021-09-11.43%$1,319,710-4.66%$354,426QLD 100%
20212021-088.39%$1,490,0012.98%$371,752QLD 100%
20212021-075.56%$1,374,6602.44%$361,008QLD 100%
20212021-0612.75%$1,302,3002.24%$352,405QLD 100%
20212021-05-2.82%$1,155,0410.66%$344,675QLD 100%
20212021-0411.84%$1,188,5015.29%$342,426QLD 100%
20212021-032.31%$1,062,6414.54%$325,219QLD 100%
20212021-02-0.72%$1,038,6122.78%$311,095QLD 100%
20212021-010.23%$1,046,138-1.02%$302,679QLD 100%
20202020-129.83%$1,043,7813.70%$305,795QLD 100%
20202020-1122.58%$950,38410.88%$294,871QLD 100%
20202020-10-6.71%$775,287-2.49%$265,942QLD 100%
20202020-09-12.01%$831,053-3.74%$272,743QLD 100%
20202020-08-2.47%$944,4906.98%$283,353UGL 100%
20202020-0718.56%$968,4295.89%$264,866UGL 100%
20202020-065.86%$816,8521.77%$250,135UGL 100%
20202020-05-4.16%$771,6194.76%$245,776UBT 100%
20202020-042.04%$805,15012.70%$234,599UBT 100%
20202020-039.74%$789,080-12.49%$208,165UBT 100%
20202020-0213.80%$719,015-7.92%$237,868UBT 100%
20202020-015.62%$631,800-0.04%$258,318QLD 100%
20192019-127.61%$598,1832.91%$258,422QLD 100%
20192019-11-6.66%$555,8963.62%$251,126UGL 100%
20192019-10-2.55%$595,5512.21%$242,353UBT 100%
20192019-09-5.77%$611,1411.95%$237,112UBT 100%
20192019-0822.73%$648,596-1.67%$232,586UBT 100%
20192019-07-0.30%$528,4881.51%$236,547UGL 100%
20192019-061.65%$530,0616.96%$233,024UBT 100%
20192019-0513.91%$521,463-6.38%$217,863UBT 100%
20192019-04-4.16%$457,8054.09%$232,703UBT 100%
20192019-03-3.65%$477,6951.81%$223,570UGL 100%
20192019-02-1.55%$495,7823.24%$219,595UGL 100%
20192019-014.95%$503,6068.01%$212,700UGL 100%
20182018-12-10.44%$479,875-8.80%$196,933TBT 100%
20182018-11-3.19%$535,8271.85%$215,946TBT 100%
20182018-106.16%$553,512-6.91%$212,014TBT 100%
20182018-093.39%$521,4080.59%$227,752DBC 100%
20182018-080.84%$504,2893.19%$226,406UUP 100%
20182018-07-2.43%$500,0853.70%$219,403DBC 100%
20182018-061.71%$512,5510.58%$211,565QLD 100%
20182018-0511.27%$503,9552.43%$210,355QLD 100%
20182018-043.42%$452,9130.52%$205,363DBC 100%
20182018-03-8.69%$437,954-2.74%$204,307QLD 100%
20182018-02-3.43%$479,622-3.64%$210,065QLD 100%
20182018-0117.84%$496,6355.64%$217,991QLD 100%
20172017-120.89%$421,4581.21%$206,361QLD 100%
20172017-113.71%$417,7233.06%$203,888QLD 100%
20172017-109.12%$402,7792.36%$197,841QLD 100%
20172017-09-0.62%$369,0992.01%$193,287QLD 100%
20172017-083.57%$371,3980.29%$189,469QLD 100%
20172017-078.20%$358,5822.06%$188,918QLD 100%
20172017-06-4.54%$331,3960.64%$185,113UGL 100%
20172017-057.62%$347,1401.41%$183,940QLD 100%
20172017-045.32%$322,5560.99%$181,380QLD 100%
20172017-033.86%$306,2530.13%$179,598QLD 100%
20172017-028.76%$294,8633.93%$179,373QLD 100%
20172017-0110.28%$271,1121.79%$172,592QLD 100%
20162016-122.14%$245,8482.03%$169,558QLD 100%
20162016-113.27%$240,6933.68%$166,189UUP 100%
20162016-10-3.06%$233,082-1.73%$160,284QLD 100%
20162016-094.13%$240,4450.01%$163,112QLD 100%
20162016-08-6.63%$230,9150.12%$163,103UGL 100%
20162016-073.80%$247,3183.65%$162,908UGL 100%
20162016-0613.74%$238,2700.35%$157,175UBT 100%
20162016-05-12.31%$209,4841.70%$156,631UGL 100%
20162016-049.50%$238,8920.39%$154,011UGL 100%
20162016-03-1.81%$218,1696.73%$153,406UGL 100%
20162016-025.95%$222,181-0.08%$143,738UBT 100%
20162016-010.82%$209,712-4.98%$143,856UUP 100%
20152015-12-3.57%$208,009-1.73%$151,394QLD 100%
20152015-113.29%$215,7110.37%$154,056UUP 100%
20152015-10-1.43%$208,8468.51%$153,495UBT 100%
20152015-090.16%$211,865-2.55%$141,462UUP 100%
20152015-08-1.45%$211,527-6.09%$145,167UUP 100%
20152015-078.91%$214,6512.26%$154,589QLD 100%
20152015-06-5.12%$197,084-2.03%$151,174QLD 100%
20152015-054.43%$207,7261.29%$154,308QLD 100%
20152015-04-6.90%$198,9160.98%$152,350UBT 100%
20152015-032.05%$213,668-1.57%$150,866UBT 100%
20152015-02-12.47%$209,3795.62%$153,273UBT 100%
20152015-0120.06%$239,220-2.96%$145,117UBT 100%
20142014-126.80%$199,243-0.25%$149,548UBT 100%
20142014-115.86%$186,5652.75%$149,928UBT 100%
20142014-105.76%$176,2322.36%$145,920UBT 100%
20142014-09-1.67%$166,637-1.38%$142,562QLD 100%
20142014-088.72%$169,4733.95%$144,556UBT 100%
20142014-072.09%$155,887-1.34%$139,068QLD 100%
20142014-066.23%$152,6912.06%$140,962QLD 100%
20142014-058.99%$143,7422.32%$138,111QLD 100%
20142014-04-1.09%$131,8900.70%$134,979QLD 100%
20142014-03-5.59%$133,3380.83%$134,047QLD 100%
20142014-0210.26%$141,2354.55%$132,944QLD 100%
20142014-01-4.08%$128,096-3.52%$127,157QLD 100%
20132013-125.82%$133,5392.59%$131,802QLD 100%
20132013-116.91%$126,1922.96%$128,472QLD 100%
20132013-1010.06%$118,0404.63%$124,774QLD 100%
20132013-099.56%$107,2473.16%$119,251QLD 100%
20132013-08-1.04%$97,888-3.00%$115,593QLD 100%
20132013-0713.06%$98,9215.17%$119,167QLD 100%
20132013-06-5.17%$87,498-1.33%$113,312QLD 100%
20132013-05-13.12%$92,2712.36%$114,844UBT 100%
20132013-044.66%$106,2021.92%$112,195QLD 100%
20132013-036.08%$101,4743.80%$110,081QLD 100%
20132013-020.49%$95,6621.28%$106,054QLD 100%
20132013-015.31%$95,2015.12%$104,717QLD 100%
20122012-12-1.42%$90,4010.89%$99,618QLD 100%
20122012-112.59%$91,6990.57%$98,736UBT 100%
20122012-10-10.62%$89,380-1.82%$98,180QLD 100%

Trade History

Signal DateEarn Date AllocationPeriod Return
2026-07-312026-08-31QLD 100%12.53%
2026-06-302026-07-31QLD 100%-13.53%
2026-05-312026-06-30QLD 100%-1.66%
2026-04-302026-05-31QLD 100%21.48%
2026-03-312026-04-30QLD 100%32.87%
2026-02-282026-03-31QLD 100%-10.26%
2026-01-312026-02-28QLD 100%-5.19%
2025-12-312026-01-31QLD 100%1.85%
2025-11-302025-12-31QLD 100%-1.92%
2025-10-312025-11-30QLD 100%-3.92%
2025-09-302025-10-31QLD 100%8.95%
2025-08-312025-09-30QLD 100%10.48%
2025-07-312025-08-31QLD 100%1.18%
2025-06-302025-07-31QLD 100%4.30%
2025-05-312025-06-30QLD 100%12.52%
2025-04-302025-05-31UGL 100%-1.34%
2025-03-312025-04-30UGL 100%9.03%
2025-02-282025-03-31UGL 100%19.27%
2025-01-312025-02-28QLD 100%-6.00%
2024-12-312025-01-31QLD 100%3.48%
2024-11-302024-12-31QLD 100%0.08%
2024-10-312024-11-30QLD 100%10.10%
2024-09-302024-10-31QLD 100%-2.40%
2024-08-312024-09-30UGL 100%9.74%
2024-07-312024-08-31UGL 100%3.30%
2024-06-302024-07-31UGL 100%9.80%
2024-05-312024-06-30UGL 100%-0.95%
2024-04-302024-05-31QLD 100%12.36%
2024-03-312024-04-30QLD 100%-9.33%
2024-02-292024-03-31QLD 100%1.74%
2024-01-312024-02-29QLD 100%10.03%
2023-12-312024-01-31QLD 100%2.89%
2023-11-302023-12-31QLD 100%10.72%
2023-10-312023-11-30TBT 100%-16.95%
2023-09-302023-10-31TBT 100%11.14%
2023-08-312023-09-30QLD 100%-10.21%
2023-07-312023-08-31QLD 100%-3.98%
2023-06-302023-07-31QLD 100%7.22%
2023-05-312023-06-30QLD 100%12.32%
2023-04-302023-05-31UGL 100%-3.50%
2023-03-312023-04-30UGL 100%1.02%
2023-02-282023-03-31QLD 100%18.79%
2023-01-312023-02-28QLD 100%-1.74%
2022-12-312023-01-31TBT 100%-13.82%
2022-11-302022-12-31TBT 100%4.77%
2022-10-312022-11-30TBT 100%-13.40%
2022-09-302022-10-31TBT 100%13.11%
2022-08-312022-09-30TBT 100%17.86%
2022-07-312022-08-31TBT 100%9.05%
2022-06-302022-07-31TBT 100%-5.35%
2022-05-312022-06-30TBT 100%1.95%
2022-04-302022-05-31TBT 100%3.26%
2022-03-312022-04-30DBC 100%5.64%
2022-02-282022-03-31DBC 100%9.17%
2022-01-312022-02-28DBC 100%6.47%
2021-12-312022-01-31DBC 100%7.89%
2021-11-302021-12-31QLD 100%1.61%
2021-10-312021-11-30QLD 100%3.63%
2021-09-302021-10-31QLD 100%16.17%
2021-08-312021-09-30QLD 100%-11.43%
2021-07-312021-08-31QLD 100%8.39%
2021-06-302021-07-31QLD 100%5.56%
2021-05-312021-06-30QLD 100%12.75%
2021-04-302021-05-31QLD 100%-2.82%
2021-03-312021-04-30QLD 100%11.84%
2021-02-282021-03-31QLD 100%2.31%
2021-01-312021-02-28QLD 100%-0.72%
2020-12-312021-01-31QLD 100%0.23%
2020-11-302020-12-31QLD 100%9.83%
2020-10-312020-11-30QLD 100%22.58%
2020-09-302020-10-31QLD 100%-6.71%
2020-08-312020-09-30QLD 100%-12.01%
2020-07-312020-08-31UGL 100%-2.47%
2020-06-302020-07-31UGL 100%18.56%
2020-05-312020-06-30UGL 100%5.86%
2020-04-302020-05-31UBT 100%-4.16%
2020-03-312020-04-30UBT 100%2.04%
2020-02-292020-03-31UBT 100%9.74%
2020-01-312020-02-29UBT 100%13.80%
2019-12-312020-01-31QLD 100%5.62%
2019-11-302019-12-31QLD 100%7.61%
2019-10-312019-11-30UGL 100%-6.66%
2019-09-302019-10-31UBT 100%-2.55%
2019-08-312019-09-30UBT 100%-5.77%
2019-07-312019-08-31UBT 100%22.73%
2019-06-302019-07-31UGL 100%-0.30%
2019-05-312019-06-30UBT 100%1.65%
2019-04-302019-05-31UBT 100%13.91%
2019-03-312019-04-30UBT 100%-4.16%
2019-02-282019-03-31UGL 100%-3.65%
2019-01-312019-02-28UGL 100%-1.55%
2018-12-312019-01-31UGL 100%4.95%
2018-11-302018-12-31TBT 100%-10.44%
2018-10-312018-11-30TBT 100%-3.19%
2018-09-302018-10-31TBT 100%6.16%
2018-08-312018-09-30DBC 100%3.39%
2018-07-312018-08-31UUP 100%0.84%
2018-06-302018-07-31DBC 100%-2.43%
2018-05-312018-06-30QLD 100%1.71%
2018-04-302018-05-31QLD 100%11.27%
2018-03-312018-04-30DBC 100%3.42%
2018-02-282018-03-31QLD 100%-8.69%
2018-01-312018-02-28QLD 100%-3.43%
2017-12-312018-01-31QLD 100%17.84%
2017-11-302017-12-31QLD 100%0.89%
2017-10-312017-11-30QLD 100%3.71%
2017-09-302017-10-31QLD 100%9.12%
2017-08-312017-09-30QLD 100%-0.62%
2017-07-312017-08-31QLD 100%3.57%
2017-06-302017-07-31QLD 100%8.20%
2017-05-312017-06-30UGL 100%-4.54%
2017-04-302017-05-31QLD 100%7.62%
2017-03-312017-04-30QLD 100%5.32%
2017-02-282017-03-31QLD 100%3.86%
2017-01-312017-02-28QLD 100%8.76%
2016-12-312017-01-31QLD 100%10.28%
2016-11-302016-12-31QLD 100%2.14%
2016-10-312016-11-30UUP 100%3.27%
2016-09-302016-10-31QLD 100%-3.06%
2016-08-312016-09-30QLD 100%4.13%
2016-07-312016-08-31UGL 100%-6.63%
2016-06-302016-07-31UGL 100%3.80%
2016-05-312016-06-30UBT 100%13.74%
2016-04-302016-05-31UGL 100%-12.31%
2016-03-312016-04-30UGL 100%9.50%
2016-02-292016-03-31UGL 100%-1.81%
2016-01-312016-02-29UBT 100%5.95%
2015-12-312016-01-31UUP 100%0.82%
2015-11-302015-12-31QLD 100%-3.57%
2015-10-312015-11-30UUP 100%3.29%
2015-09-302015-10-31UBT 100%-1.43%
2015-08-312015-09-30UUP 100%0.16%
2015-07-312015-08-31UUP 100%-1.45%
2015-06-302015-07-31QLD 100%8.91%
2015-05-312015-06-30QLD 100%-5.12%
2015-04-302015-05-31QLD 100%4.43%
2015-03-312015-04-30UBT 100%-6.90%
2015-02-282015-03-31UBT 100%2.05%
2015-01-312015-02-28UBT 100%-12.47%
2014-12-312015-01-31UBT 100%20.06%
2014-11-302014-12-31UBT 100%6.80%
2014-10-312014-11-30UBT 100%5.86%
2014-09-302014-10-31UBT 100%5.76%
2014-08-312014-09-30QLD 100%-1.67%
2014-07-312014-08-31UBT 100%8.72%
2014-06-302014-07-31QLD 100%2.09%
2014-05-312014-06-30QLD 100%6.23%
2014-04-302014-05-31QLD 100%8.99%
2014-03-312014-04-30QLD 100%-1.09%
2014-02-282014-03-31QLD 100%-5.59%
2014-01-312014-02-28QLD 100%10.26%
2013-12-312014-01-31QLD 100%-4.08%
2013-11-302013-12-31QLD 100%5.82%
2013-10-312013-11-30QLD 100%6.91%
2013-09-302013-10-31QLD 100%10.06%
2013-08-312013-09-30QLD 100%9.56%
2013-07-312013-08-31QLD 100%-1.04%
2013-06-302013-07-31QLD 100%13.06%
2013-05-312013-06-30QLD 100%-5.17%
2013-04-302013-05-31UBT 100%-13.12%
2013-03-312013-04-30QLD 100%4.66%
2013-02-282013-03-31QLD 100%6.08%
2013-01-312013-02-28QLD 100%0.49%
2012-12-312013-01-31QLD 100%5.31%
2012-11-302012-12-31QLD 100%-1.42%
2012-10-312012-11-30UBT 100%2.59%
2012-09-302012-10-31QLD 100%-10.62%