Trailing Period Returns — As of 2026-04
Annualized returns for the ACM REF model portfolio versus the 60/40 benchmark (40% VMBS / 30% REZ / 30% XHB) across key trailing periods. Live data sourced from Yahoo Finance monthly adjusted closes.
Growth of $1,000 — 2010 Through 2025
Hypothetical growth of a $1,000 investment in the ACM REF model portfolio versus the 60/40 benchmark (40% VMBS + 30% REZ + 30% XHB) from January 2010 through December 2025. Based on actual ETF annual total returns with dividends reinvested. The 16-year window captures the post-financial-crisis recovery, the 2022 interest rate shock, and the post-COVID housing boom, providing a complete picture of portfolio behavior across multiple distinct rate and housing market cycles.
Calendar Year Performance
Annual total returns for the ACM REF model portfolio (33.33% MBS / 33.33% REITs / 33.33% Builders & Land) versus the 60/40 benchmark (40% VMBS + 30% REZ + 30% XHB), 2010–2025. Based on actual ETF and security annual total returns with dividends reinvested.
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ACM REF | +23.3% | +3.9% | +36.8% | +19.7% | +12.6% | +5.8% | +14.9% | +30.8% | -8.0% | +45.8% | +19.6% | +35.5% | -22.7% | +26.3% | +12.4% | -0.1% |
| Benchmark | +22.8% | +3.7% | +35.0% | +17.3% | +12.5% | +10.4% | +10.3% | +26.4% | -10.7% | +42.3% | +16.2% | +31.5% | -23.0% | +23.5% | +10.9% | -0.1% |
| Alpha | +0.5% | +0.2% | +1.8% | +2.4% | +0.0% | -4.6% | +4.6% | +4.5% | +2.7% | +3.5% | +3.4% | +4.0% | +0.2% | +2.9% | +1.6% | 0.0% |
* Pre-inception data (2010–2019) uses actual annual returns for all securities. Fund inception: July 2020. All benchmark ETFs (VMBS, REZ, XHB) have live price data from 2010 onward — no index proxies. FOR pre-2017 reflects diversified real estate & natural resources operations prior to DR Horton acquisition.
Rolling Return Analysis
Rolling annualized performance charts show how portfolio return has evolved over successive periods. Each data point represents the annualized return for the trailing window ending in that year, covering the fund’s active period from 2020–2025.
Each bar shows the annual total return for that calendar year.
Each bar shows the annualized return for the 3-year period ending in that year.
Each bar shows the annualized return for the 5-year period ending in that year.
Risk Statistics Since Inception
The ACM Residential Real Estate Fund (REF) is a simulated model portfolio and does not represent an actual investment fund. All performance data shown is hypothetical and based on historical market prices with dividends reinvested. Growth of $1,000 chart covers 2010–2025 using actual ETF annual returns throughout; no index proxies are used. Pre-inception data (2010–June 2020) reflects actual historical security returns but does not represent actual fund performance. Simulated results have inherent limitations and do not reflect actual trading, liquidity constraints, bid-ask spreads, or the full impact of fees and taxes.
The ACM REF employs an equal-weight allocation of 33.33% across three segments: Mortgage-Backed Securities (VMBS 33.33%), Equity REITs (EQR, AMH, MAA, SUI — 8.333% each), and Homebuilder & Land Securities (DHI, PHM, TOL, FOR — 8.333% each). Benchmark: 40% VMBS + 30% REZ + 30% XHB (60% equity / 40% fixed income). FOR pre-2017 reflects diversified real estate & natural resources operations prior to DR Horton acquisition.
Past performance is not indicative of future results. This information is provided for educational purposes only and does not constitute an offer or solicitation to buy or sell any securities. Investing involves risk, including the possible loss of principal. ACM Expense Ratio: 0.25% per annum. Underlying expense ratios: <0.76%. The ACM management fee will be rebated in full for any calendar year in which the model REF Fund delivers a negative return.
©2020–2026 Adkins Capital Management LLC. All rights reserved. Data refreshed every 24 hours. Last updated: April 27, 2026 at 9:30 AM EDT • Live data source: Yahoo Finance.