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Global + Long/Short

CAD-diversified US and Canadian sleeves with intentional beta near 1.0.

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TickerWeightBetaNotes
SSO20%22× S&P 500 — US leveraged equity
HEQL.TO10%1.251.25× Global equity
QLD10%22× Nasdaq-100 leveraged equity.
HDGE.TO15%0.5Long/short equity (~110% / ~50% gross).
PFLS.TO15%0.48Long/short equity (~160% / ~100% gross).
PFMN.TO15%0.12Market-neutral long/short equity.
ATSX.TO15%0.8150/50 Canadian long/short equity (TSX 60).

Weighted portfolio beta (approx.): 1.01

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Total return (CAD vs SPY)

Range
+32.26%
Portfolio
+23.01%
SPY (benchmark)
+9.26%
Excess α vs SPY
-8.14%
Max drawdown
-9.41%
SPY max DD
2.36
Sharpe
Excess return above the 4.5% risk-free rate divided by annualised volatility. Above 1.0 is good; above 2.0 is excellent. SPY typically scores around 0.5–0.8.
3.56
Sortino
Excess return above the 4.5% risk-free rate divided by annualised downside deviation (penalises losses only). Above 1.5 is good; above 3.0 is excellent.
PortfolioSPY
Portfolio score: B+

Alpha score: A

Max DD score: B+

Beta score: B

Beta: 1.01

Net leverage:

Total: 105.5%

Gross longs: 150.5%

Gross shorts: 45.0%

Gross alpha & alts: 0.0%

Portfolio weights:

SSO: 20%

HEQL.TO: 10%

QLD: 10%

HDGE.TO: 15%

PFLS.TO: 15%

PFMN.TO: 15%

ATSX.TO: 15%

Educational model only — not investment advice. Portfolio betas in the holdings table are weighted to the listed names and weights.

HEQL.TO: before January 20, 2026, HEQL.TO is modeled as 1.25× HEQT.TO daily total returns (Yahoo adjusted, CAD-listed), reinvesting at 1.25× notional; financing ~4.5%/yr on the extra 0.25× notional (Canadian-style wholesale carry), i.e. ~1.13%/yr drag on NAV.

PFLS.TO's inception date of 2020-08-06 is limiting the backtest.