Tactical: Managed, ranked by M-squared

for period ending August 31, 2026

More ways to view this list of Portfolio Recipes:
Recipe Summary Page (Total Return with Maximum Drawdown Scatterplots)
by Return: Total Return (1, 3, 5, 10, 15, 20 years), Historical Return (past 5 years)
by Risk vs. Return: Risk vs. Return Compass, M-Squared, Alpha, Sharpe Ratio, Sortino Ratio, Treynor Ratio
by Volatility / Risk: Maximum Drawdown, Standard Deviation, Downside Deviation, Beta
by Peer Group: Strategic: DIY, Tactical: DIY, Tactical: Managed

M-Squared is the Modigliani risk-adjusted performance, shown as an annual total return percent. It is derived from the Sharpe ratio, but M-Squared is in units of percent return. M-Squared inputs include standard deviation, the monthly total return, the risk-free rate (3-month T-bill), and the return of a benchmark equity portfolio (the S&P 500, represented by the SPY exchange-traded fund).

Note: The Free plan includes full multi-year analytics for all 200+ Portfolio Recipes. Click any recipe name to view its complete performance details. Investable percentage allocations require a paid plan.

Portfolio Recipes: Tactical: Managed Peer Group
Sort by any column by clicking on the gray column heading.

      M-Squared   Total Return, annualized
Recipe Name ID Category 1 year 3 year 5 year 10 year 15 year 20 year   1 year 3 year 5 year 10 year 15 year 20 year
    Group average  
 
U.S. Total Bond Market BND Benchmark -24.2% -17.3% -20.4% -16.7% -12.9% -5.1%   1.8% 4.1% -0.4% 1.4% 2.0% 3.1%
S&P 500 SPY Benchmark 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%   20.2% 20.9% 12.7% 15.3% 15.0% 11.3%
Strategic 60-40 Portfolio s.6040 Benchmark -2.3% -3.4% -4.8% -2.7% -1.6% 0.2%   12.7% 13.9% 6.9% 9.5% 9.7% 8.2%
S&P 500 Equal Weight RSP Equal Weight 2.6% -5.5% -3.9% -4.0% -3.0% -2.1%   18.2% 15.4% 8.8% 12.0% 12.9% 10.2%
Permanent Portfolio PRPFX Low Equity -2.0% 5.7% 3.6% -0.4% -5.1% 0.2%   17.2% 20.1% 12.1% 10.7% 7.5% 8.2%
Hedge Replication HDG Blended 2.8% -7.5% -11.4% -9.6% -9.8%     10.9% 7.6% 3.3% 3.9% 3.2%  
Inv Dorsey Wright PDP Blended -7.1% -7.5% -6.0% -4.7% -4.3%     20.2% 18.3% 7.5% 12.4% 12.4%  
NYLI Hedge Multi-Strat QAI Blended -3.3% -6.2% -8.9% -10.1% -9.5%     10.1% 8.6% 4.2% 3.6% 3.2%  
ProShares Lg Cap CSM Hedged: 130-30 0.2% -0.2% -0.6% -1.6% -1.2%     20.4% 21.0% 12.3% 14.2% 14.5%  
MultiAsset ETF RLY Hedged: Abs Return 10.5% -2.9% 0.3% -5.8%       28.0% 14.9% 11.5% 8.6%    
NYLI Merger Arbitrage MNA Hedged: Arbitrage -29.9% -10.8% -18.0% -12.5% -9.6%     2.3% 5.7% 2.4% 2.8% 3.1%  
AGF AntiBeta BTAL Hedged: Mkt Neutral -36.1% -26.7% -16.0% -19.2%       -23.2% -9.8% -4.0% -4.1%    
WisdmTr EM HiYld DEM Income: Equity 12.3% 2.7% -1.6% -5.9% -10.8%     26.3% 18.7% 10.5% 9.6% 4.7%  
WisdmTr EM SmCap DGS Income: Equity -4.9% -6.5% -5.1% -6.9% -9.8%     17.6% 14.4% 7.5% 8.7% 5.9%  
WisdomTree ex-US DLN Income: Equity 8.9% 1.4% 1.1% -1.5% -0.7% -1.0%   19.5% 18.5% 12.3% 12.7% 13.1% 9.7%
WisdmTr Intl SmCap DLS Income: Equity -3.9% -2.4% -5.3% -7.5% -7.5% -5.6%   17.4% 18.9% 7.4% 8.1% 8.0% 6.4%
iShares Select Dividend DVY Income: Equity 5.5% -3.5% -2.0% -5.0% -3.0% -2.9%   18.7% 17.1% 10.4% 10.4% 11.9% 8.5%
SPDR S&P Int'l DWX Income: Equity -1.4% -2.8% -4.0% -7.1% -10.7%     16.3% 16.6% 8.1% 7.4% 4.4%  
iShares Core Hi Div HDV Income: Equity 5.4% -2.5% 1.2% -4.9% -3.0%     24.1% 16.8% 12.7% 10.0% 11.2%  
iShr Intl Select Dividend IDV Income: Equity 9.2% 6.3% 0.5% -5.5% -7.9%     29.7% 26.8% 13.7% 10.5% 8.0%  
Invesco Intl Div PID Income: Equity -8.0% -7.3% -3.7% -7.1% -9.1% -6.7%   10.4% 13.0% 8.7% 8.6% 6.5% 5.1%
SPDR S&P Dividend SDY Income: Equity -5.2% -8.8% -4.0% -5.2% -3.1% -2.2%   13.5% 11.7% 8.3% 9.7% 11.4% 8.9%
Vanguard Hi Div Yld ETF VYM Income: Equity 7.7% -0.1% 0.4% -2.7% -1.2%     20.7% 18.3% 12.0% 11.8% 12.8%  
Invesco Sr Loan ETF BKLN Income: Float Rate -12.3% -4.2% -4.7% -7.8% -5.1%     4.8% 6.9% 5.5% 4.2% 4.4%  
Invesco Multi-Asset CVY Income: Multi 2.5% -4.7% -3.5% -7.5% -8.4%     17.5% 15.4% 9.2% 8.8% 7.5%  
SPDR Conv Sec CWB Income: Multi -2.7% -4.9% -7.3% -3.2% -3.2%     20.4% 15.7% 5.2% 11.4% 10.8%  
SPDR Inc Alloc INKM Income: Multi -3.1% -7.8% -9.0% -8.7%       9.7% 9.8% 4.0% 5.3%    
iSh MultiAsset Income IYLD Income: Multi 1.4% -4.6% -10.3% -11.1%       11.0% 10.3% 3.3% 3.7%    
FirstTrust Multi-Asset MDIV Income: Multi -2.7% -5.3% -4.9% -10.4%       10.9% 11.4% 6.9% 4.8%    
iShr Preferred ETF PFF Income: Multi -19.6% -14.3% -13.6% -12.3% -9.1%     2.1% 5.9% 0.7% 2.9% 4.5%  
Invesco Preferred ETF PGX Income: Multi -27.8% -16.7% -15.2% -13.8% -9.9%     -1.7% 4.2% -1.3% 1.9% 4.0%  
First Trust Focus 5 FV Sector Rotation -5.6% -8.1% -4.3% -4.2%       20.1% 16.5% 9.5% 13.0%    
iShr Aggressive AOA Risk-Driven 2.2% -0.5% -2.8% -3.0% -3.0%     18.2% 17.0% 8.8% 10.4% 10.3%  
iShr Conservative AOK Risk-Driven -6.2% -7.1% -10.4% -7.8% -6.0%     8.0% 9.2% 3.4% 4.9% 4.9%  
iShr Moderate AOM Risk-Driven -3.1% -5.1% -8.2% -6.1% -4.7%     10.1% 10.7% 4.5% 6.0% 6.1%  
iShr Growth AOR Risk-Driven -0.2% -2.4% -5.1% -4.2% -3.5%     14.0% 13.8% 6.6% 8.2% 8.2%  
Principal GlobMultiStrat PMSAX Blended 13.1% -3.8% -5.4% -7.0%       11.7% 8.3% 5.3% 4.6%    
Hundredfold Select SFHYX Blended -7.4% -9.1% -13.8% -2.4% -1.9% 2.4%   7.5% 7.5% 2.3% 7.0% 6.5% 6.5%
UBS Global Alloc BPGLX Global Macro 0.0% -3.1% -6.1% -5.5% -6.2% -5.1%   17.8% 14.7% 5.9% 7.6% 6.9% 5.4%
DFA Select Hedged DSHGX Global Macro 6.5% 3.0% 1.0% -1.8%       24.3% 21.2% 12.5% 13.0%    
GMO Benchm-Free GBMFX Global Macro 13.6% 3.8% 2.1% -5.5% -5.6% -0.8%   22.9% 16.0% 10.1% 6.7% 6.1% 6.2%
Leuthold Global GLBIX Global Macro 2.8% -5.0% -4.9% -6.6% -6.6%     17.2% 12.1% 6.5% 6.4% 6.0%  
GMO Global Alloc GMWAX Global Macro 11.8% 2.3% -2.2% -5.1% -5.6% -2.3%   23.3% 17.2% 8.6% 7.7% 6.9% 6.3%
Mac Asset Strategy IVAEX Global Macro -5.2% -0.5% -2.7% -6.4% -8.5% -3.8%   12.6% 16.0% 8.5% 8.2% 6.5% 7.0%
Leuthold Core LCORX Global Macro -2.1% -5.2% -3.2% -3.2% -3.6% -2.3%   13.1% 12.6% 7.6% 8.2% 7.7% 6.8%
Loomis Global Alloc Y LSWWX Global Macro -1.0% -3.7% -6.3% -4.1% -4.6% -1.4%   14.4% 15.2% 6.3% 9.9% 9.3% 9.1%
BlackRock Global I MALOX Global Macro -2.0% -2.5% -7.0% -5.2% -5.9% -2.3%   15.2% 14.8% 5.4% 7.7% 6.9% 6.6%
MFS Global Tot Ret MFWIX Global Macro -0.4% -5.5% -6.5% -6.3% -5.1% -2.2%   13.3% 11.9% 5.7% 6.8% 7.2% 6.5%
PIMCO All-Asset PAUIX Global Macro -1.3% -8.4% -10.7% -10.0% -10.8% -5.3%   13.7% 9.6% 2.8% 4.5% 3.6% 4.6%
Thornburg Inv Income Y TIBIX Global Macro 19.3% 15.7% 8.5% -0.8% -2.2% 0.0%   30.8% 26.2% 16.5% 12.6% 11.0% 9.8%
VALIC Global Strat VGLSX Global Macro 5.3% 2.3% -3.2% -6.2% -6.6% -3.0%   20.3% 18.0% 8.0% 7.1% 6.9% 6.7%
NYLI Int'l Res MYITX Hedged: 130-30 6.3% 1.9% -2.2% -7.6% -8.1%     28.9% 22.0% 10.4% 7.7% 7.3%  
MFS Target Return A DVRAX Hedged: Abs Return -10.1% -1.9% -6.5% -5.9% -5.1%     5.4% 8.7% 5.0% 4.9% 4.5%  
EatonVance GlobalMacro EIGMX Hedged: Abs Return 17.9% 6.4% -3.6% -5.9% -5.8% 2.6%   11.6% 9.1% 5.5% 4.4% 3.7% 4.4%
Virtus ASG Global GAFYX Hedged: Abs Return 0.5% -10.0% -6.0% -8.4% -9.4%     15.0% 8.1% 5.4% 4.5% 3.6%  
Goldman Sachs Instl GARTX Hedged: Abs Return -0.0% -7.0% -6.8% -6.9% -7.6%     11.6% 8.4% 5.1% 5.0% 4.1%  
Jhancock Multi Abs Ret I JHAIX Hedged: Abs Return -16.2% -17.3% -12.6% -11.4%       3.9% 4.0% 2.4% 3.2%    
Putnam Short Dur Y PARYX Hedged: Abs Return -41.5% -29.6% -36.8% -18.9% -14.9%     1.3% 2.7% 0.5% 1.8% 1.6%  
Putnam Core Bond Y PYTRX Hedged: Abs Return -23.5% -16.7% -16.4% -12.9% -11.6%     2.0% 4.3% 1.9% 2.7% 2.3%  
AQR Divers N ADANX Hedged: Arbitrage -0.7% -11.0% -16.9% -2.6% -7.0%     5.4% 5.3% 2.9% 6.3% 4.0%  
Arbitrage Fund ARBNX Hedged: Arbitrage -0.4% -8.7% -11.0% -8.0% -7.7% -2.2%   5.2% 5.9% 4.0% 3.6% 2.9% 3.4%
BlackRock EmMkt A BLSAX Hedged: Long/Short 3.0% -2.2% -6.2% -9.3%       36.8% 21.3% 6.8% 6.4%    
Robeco Long/Short I BPLSX Hedged: Long/Short 27.9% 11.8% 12.5% -2.7% -2.9% 0.6%   35.4% 25.7% 19.8% 11.2% 10.3% 11.0%
Diamond Hill Long-Short I DHLSX Hedged: Long/Short -10.6% -4.4% -4.6% -6.4% -5.4% -3.9%   8.0% 11.9% 6.8% 7.6% 8.0% 6.0%
Cromwell L/S MFADX Hedged: Long/Short -3.0% -3.9% -1.6% -4.7% -7.0%     13.9% 13.1% 8.8% 8.5% 6.2%  
Calamos Market Neu Inc CVSIX Hedged: Mkt Neutral 2.3% -13.1% -11.5% -6.4% -4.4% -3.1%   6.2% 5.2% 3.7% 4.1% 4.0% 3.7%
Gabelli ABC AAA GABCX Hedged: Mkt Neutral -10.6% -6.8% -5.5% -7.0% -4.8% -0.4%   5.5% 7.2% 5.1% 4.0% 3.7% 3.7%
JPMorgan Mkt Neutral A JMNAX Hedged: Mkt Neutral -42.7% -15.1% -7.3% -6.9% -10.6% -6.4%   -3.8% 4.8% 4.7% 4.4% 2.6% 2.6%
Vanguard Market Neutral VMNFX Hedged: Mkt Neutral 17.6% 0.1% 11.9% -6.7% -7.5% -5.4%   19.5% 12.4% 13.1% 5.3% 4.3% 3.4%
Fidelity Equity FEQTX Income: Equity 8.1% -2.2% -0.2% -3.9% -3.1% -3.4%   22.5% 16.9% 11.4% 11.1% 11.7% 8.1%
Fidelity Strategic FSDIX Income: Equity 4.6% -2.4% -3.1% -3.1% -1.7% -2.4%   18.5% 15.1% 8.2% 9.7% 10.4% 7.9%
Columbia Div Income LBSAX Income: Equity 7.9% -0.4% -0.6% -1.1% -0.5% 0.1%   18.4% 16.7% 10.7% 12.5% 12.8% 10.0%
Invesco Divers Dividend LCEIX Income: Equity 0.7% -3.9% -1.7% -5.1% -2.6% -1.9%   15.2% 15.2% 9.9% 9.2% 11.0% 8.6%
BlackRock Eq Dividend MDDVX Income: Equity 7.0% 0.4% -2.9% -4.2% -3.6% -1.9%   24.0% 19.0% 9.1% 10.7% 10.9% 8.8%
T. Rowe Equity Income PRFDX Income: Equity 8.9% -1.5% -0.9% -4.0% -3.6% -2.8%   23.9% 18.1% 11.3% 11.6% 11.7% 8.7%
Schwab Div Equity SWDSX Income: Equity 3.3% -1.1% -2.3% -5.5% -4.5% -3.1%   16.5% 16.6% 9.4% 9.5% 10.4% 7.8%
Vanguard Equity VEIPX Income: Equity 3.7% -0.7% 0.2% -2.2% -0.9% -0.5%   18.1% 17.5% 11.7% 12.1% 12.9% 10.0%
Lord Abbett Float Rate LFRAX Income: Float Rate -27.5% -27.1% -23.9% -13.9% -9.0%     1.8% 2.7% 1.4% 2.3% 3.3%  
Calamos Global Opp CVLOX Income: Global -4.5% -1.6% -3.8% -3.5% -5.6% -2.9%   18.8% 19.9% 8.6% 11.0% 8.7% 7.6%
Loomis Global Alloc A LGMAX Income: Global -1.5% -4.0% -6.5% -4.4% -5.1% -1.8%   14.1% 14.9% 6.0% 9.6% 8.9% 8.7%
Neuberger Berman Eq Inc NBHAX Income: Global -2.2% -3.0% -2.0% -4.4% -4.7%     15.7% 15.8% 9.7% 9.5% 8.9%  
Thornburg Inv Income A TIBAX Income: Global 18.9% 14.8% 8.1% -1.2% -2.9% -0.6%   30.5% 25.7% 16.2% 12.3% 10.4% 9.2%
Am Century Target Date ARTOX Income: Multi -5.9% -6.1% -8.6% -6.1% -4.7% -1.8%   8.4% 9.9% 4.3% 6.1% 6.2% 5.7%
BlackRock Strat Inc Opp BASIX Income: Multi -31.0% -22.0% -27.3% -15.5% -10.9%     0.4% 2.8% -0.1% 2.0% 2.4%  
Calamos Convertible CCVIX Income: Multi 0.5% -4.5% -6.5% -2.9% -4.7% -1.8%   25.9% 16.7% 5.9% 11.2% 9.2% 8.0%
Invesco Convertible Y CNSDX Income: Multi -3.0% -4.8% -6.1% -2.9% -3.3% -0.8%   20.2% 15.7% 6.2% 10.6% 9.7% 8.8%
Fidelity Convertibles FCVSX Income: Multi -0.7% -2.8% -3.5% -0.8% -2.7% -2.1%   23.0% 17.9% 8.4% 12.7% 11.1% 9.3%
Goldman Sachs Dyn A GSZAX Income: Multi -6.5% -12.9% -15.3% -13.1% -10.6%     5.8% 5.3% 2.7% 2.6% 2.7%  
WestWood REs Inc KIFYX Income: Multi -17.9% -15.8% -14.1% -13.2% -9.4% -7.2%   3.0% 4.9% 0.5% 2.1% 5.1% 4.3%
Nuveen Preferred I NPSRX Income: Multi -8.6% -8.8% -16.5% -11.2% -6.4%     6.1% 7.2% 0.7% 3.5% 5.4%  
Pimco Income PONPX Income: Multi -24.8% -20.2% -21.8% -13.3% -5.4%     1.3% 3.1% -0.3% 2.5% 4.5%  
Principal Spectrum PPSIX Income: Multi -16.0% -6.7% -13.4% -9.7% -5.4% -4.3%   3.8% 7.6% 2.4% 4.0% 5.3% 5.4%
T. Rowe Price Global PRSNX Income: Multi -41.1% -23.6% -28.1% -16.4% -11.5%     -1.1% 2.2% -2.2% 1.3% 2.5%  
T. Rowe Retire Balanced TRRIX Income: Multi -11.9% -9.8% -13.6% -7.9% -6.2% -2.9%   5.8% 7.5% 1.9% 5.0% 5.3% 5.0%
Vanguard LifeStrategy VASIX Income: Multi -10.4% -10.8% -14.3% -10.4% -7.2% -2.7%   5.8% 7.0% 1.8% 3.6% 4.0% 4.1%
Vanguard Target Retire VTINX Income: Multi -5.9% -8.3% -11.5% -7.5% -5.3% -1.1%   8.0% 8.0% 3.0% 4.8% 5.0% 5.1%
Vanguard Wellesley Adm VWIAX Income: Multi -7.1% -8.9% -9.6% -6.5% -3.0% 1.0%   7.3% 8.5% 3.7% 5.7% 6.6% 6.5%
Fidelity Muni FHIGX Income: Tax Exempt -21.6% -25.0% -23.8% -18.0% -12.3% -6.6%   1.9% 0.5% -2.1% 0.7% 2.2% 2.8%
Nuveen Amer Muni FLAAX Income: Tax Exempt -15.8% -22.0% -23.3% -17.5% -11.4% -6.4%   3.9% 1.9% -2.7% 0.6% 2.6% 3.1%
BlackRock Nat'l Muni MDNLX Income: Tax Exempt -23.8% -27.5% -25.1% -19.3% -12.7% -7.2%   1.5% 0.6% -2.1% 0.4% 2.0% 2.5%
T. Rowe Summit Muni PRINX Income: Tax Exempt -21.4% -24.2% -23.5% -18.1% -11.9% -6.5%   1.8% 0.8% -2.0% 0.6% 2.4% 2.8%
Vanguard LT Tax-Exempt VWLTX Income: Tax Exempt -17.7% -22.4% -21.5% -16.9% -11.4% -6.2%   3.3% 1.4% -1.7% 1.0% 2.5% 3.0%
Sound Mind Investing SMIFX Momentum -8.5% -9.5% -7.1% -6.0% -5.9% -4.0%   11.8% 11.4% 5.3% 8.7% 8.8% 7.3%
Sector Rotation NAVFX Sector Rotation -6.8% -2.9% -2.5% -3.8%       12.7% 18.5% 9.9% 11.2%    
FundX ETF XCOR Momentum -5.7% -3.5% -5.8% -4.5% -4.5% -3.8%   16.5% 19.5% 6.8% 10.8% 10.7% 7.7%
ALPS Insurance Trust BETFX Risk-Driven -0.4% -2.1% -5.0% -5.2% -5.0%     14.3% 13.9% 6.7% 7.5% 7.2%  
Columbia Thermostat COTZX Risk-Driven -8.0% -5.4% -8.2% -1.9% -1.4% -1.5%   7.0% 10.8% 4.5% 7.7% 7.5% 6.9%
Dodge & Cox Balanced DODBX Risk-Driven -3.7% -4.8% -4.2% -4.2% -2.7% -2.5%   10.2% 12.0% 7.2% 9.3% 10.2% 7.6%
Fidelity Balanced FBALX Risk-Driven 2.7% -0.5% -2.3% -0.9% -0.8% 0.2%   17.9% 16.7% 9.1% 11.7% 11.3% 9.2%
Fidelity Puritan FPURX Risk-Driven -0.9% -1.9% -2.3% -0.9% -0.7% 0.4%   15.9% 16.4% 9.0% 11.4% 11.0% 9.0%
Janus Balanced JANBX Risk-Driven -9.4% -4.2% -5.5% -1.5% -1.4% 1.5%   8.6% 13.8% 6.4% 10.2% 9.9% 8.8%
Schwab Balanced SWOBX Risk-Driven -5.8% -4.2% -6.3% -3.8% -2.9% -1.3%   10.8% 13.1% 5.8% 8.7% 8.8% 7.1%
Vanguard Balanced VBIAX Risk-Driven -2.2% -3.6% -4.8% -2.7% -1.4% 0.4%   12.8% 14.1% 7.0% 9.5% 9.8% 8.3%
ValueLine AssetAlloc VLAAX Risk-Driven -40.7% -16.8% -12.7% -7.1% -4.8% -2.5%   -8.5% 4.2% 0.9% 6.7% 8.0% 7.0%
Vanguard Wellesley Inv VWINX Risk-Driven -7.3% -8.4% -9.5% -6.5% -2.8% 1.1%   7.2% 8.8% 3.8% 5.7% 6.7% 6.5%
Vanguard LifeStrat Growth VASGX Risk-Driven 1.4% 0.1% -2.9% -2.8% -2.9% -2.2%   18.4% 17.5% 8.8% 10.6% 10.2% 8.0%
Vanguard Wellington Inv VWELX Risk-Driven -3.5% -0.4% -3.0% -1.6% -0.5% 0.9%   12.8% 15.5% 8.1% 10.1% 10.4% 8.8%
Vanguard STAR Inv VGSTX Risk-Driven -0.5% -3.8% -6.6% -3.8% -3.1% -1.2%   13.7% 13.8% 5.7% 9.2% 9.2% 7.8%
FPA Crescent FPACX Risk-Driven 1.3% 0.7% -1.5% -3.6% -3.0% -0.1%   14.5% 15.0% 9.0% 9.9% 9.7% 8.6%
Allspring Asset Alloc WFAIX Risk-Driven -3.0% -3.4% -4.6% -2.4% 0.3% -0.3%   12.4% 14.1% 7.1% 9.4% 10.7% 8.4%