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Sector optimized minimum variance portfolio of S&P500. (Defensive portfolio)

Changes of the weights of the sectors in the portfolio durring the last three quarter. As a percentage

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Current weights in the portfolio.

Valid For	2023.4Q
Ticker	Sector Name	Weight	ETF Ticker
$IXU	UTILITIES SELECT SECTOR INDEX NT	0.25	XLU
$IXT	TECHNOLOGY SELECT SECTOR INDEX N	0	XLK
$IXY	CONSUMER DISCRETIONARY SELECT SE	0.009	XLY
$IXV	HEALTH CARE SELECT SECTOR INDEX	0.25	XLV
$IXE	ENERGY SELECT SECTOR INDEX NTR	0	XLE
$IXB	MATERIALS SELECT SECTOR INDEX NT	0.02	XLB
$IXRE	REAL ESTATE SELECT SECTOR INDEX	0	XLRE
$IXI	INDUSTRIAL SELECT SECTOR INDEX N	0.041	XLI
$IXM	FINANCIAL SELECT SECTOR INDEX NT	0	XLF
$IXR	CONSUMER STAPLES SELECT SECTOR N	0.25	XLP
$IXC	COMMUNICATION SERVICES SELECT SECTOR INDEX	0.179	XLC
	UNIT	1

Portfolio allocation for sectors indexes of S&P500 index. The main goal is minimizing the risk of the portfolio. Used approach is the Markowitz Portfolio Theory (MPT). This allocation way emphasis to maximize the expected return and minimize the risk level. According to the theory, every level of the return of the portfolio can be matched to a risk level, depending to the risk aversion of the investor. Our allocation method - based on MPT - seeks that portfolio, where the expected risk is lower than the risk of the market portfolio (S&P500), and the return could excess the expected return of the index.