Growth of $100 — Since Inception
Hypothetical growth of a $100 investment in the ACM RREF model portfolio versus the equal-weighted benchmark (VMBS/REZ/XHB) since fund inception in July 2020. Based on monthly adjusted closing prices with dividends reinvested.
Calendar Year Performance
Annual returns for the ACM RREF model portfolio versus the equal-weighted benchmark. 2020 represents a partial year from fund inception in July 2020.
| Year | 2020* | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| ACM RREF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Benchmark | +9.0% | +30.8% | -23.0% | +24.0% | +9.0% | +4.4% | +2.6% |
| Alpha | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
* Partial year — July 2020 inception through December 2020. † PTRIX replaced with JMBS for calculation — see disclaimer below.
Rolling Annualized Performance
Annualized returns for the ACM RREF model portfolio versus the benchmark as of 2026-03. Periods with insufficient history show N/A.
Risk Statistics Since Inception
Performance Attribution — Since Inception
Security selection attribution measures the contribution of each holding's performance relative to its asset class benchmark, weighted by portfolio allocation. Positive selection indicates outperformance versus the relevant benchmark index for that asset class.
| Asset Class | Security | Ticker | Weight | Security Return | Benchmark Return | Selection Contribution |
|---|---|---|---|---|---|---|
| Mortgage-Backed Securities Class total: +0.4% | Vanguard MBS ETF | VMBS | 25% | +2.2% | +2.2% | +0.0% |
| Janus Henderson MBS ETF (JMBS)* | JMBS | 15% | +4.9% | +2.2% | +0.4% | |
| Equity REITs Class total: -5.8% | Equity Residential | EQR | 10% | +39.3% | +64.9% | -2.6% |
| American Homes 4 Rent | AMH | 5% | +12.5% | +64.9% | -2.6% | |
| UMH Properties | UMH | 10% | +58.3% | +64.9% | -0.7% | |
| Homebuilder Securities Class total: +27.4% | DR Horton | DHI | 10% | +126.0% | +113.2% | +1.3% |
| Pulte Group | PHM | 10% | +193.4% | +113.2% | +8.0% | |
| Toll Brothers | TOL | 10% | +294.1% | +113.2% | +18.1% | |
| Total Security Selection Contribution | +22.0% | |||||
| Benchmark Return (Since Inception) | +58.9% | |||||
| ACM RREF Total Return (Since Inception) | N/A | |||||
Holdings & Allocation
The ACM Residential Real Estate Fund (RREF) is a simulated model portfolio and does not represent an actual investment fund. All performance data shown is hypothetical and has been calculated using historical market prices of the underlying securities with dividends reinvested. Simulated performance results have inherent limitations and do not reflect actual trading, liquidity constraints, or the impact of fees beyond the stated expense ratios.
Performance is calculated using monthly adjusted closing prices sourced from Yahoo Finance. PTRIX (PIMCO Mortgage Backed Securities Fund) has been replaced with JMBS (Janus Henderson Mortgage-Backed Securities ETF) for performance calculation purposes. JMBS is an actively managed MBS ETF with the same investment objective — outperforming the Bloomberg U.S. MBS Index — making it a like-for-like substitute for the actively managed PTRIX mutual fund. The benchmark portfolio consists of an equal-weighted allocation to VMBS, REZ, and XHB, representing the MBS, residential REIT, and homebuilder segments respectively.
Past performance is not indicative of future results. The model portfolio is managed by Troy Morris Adkins of Adkins Capital Management LLC. This information is provided for educational and informational 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%. Underlying expense ratios: <0.76%.
Data refreshed every 24 hours. Last updated: March 16, 2026 at 8:03 PM GMT+0000 • Source: Yahoo Finance via public API.
