{"schemaVersion":1,"ticker":"MARW","asOf":"2026-10-26","desk":"buffer","cite":{"publisher":"ETFIQ","page":"https://etfiq.com/funds/marw/","methodology":"https://etfiq.com/methodology/","as_of":"2026-10-26","credit":"Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent","class":"mixed","license":"https://etfiq.com/license/","license_text":"Only the numbers in etfiq_fields are ETFIQ's, free to use with attribution: ETFIQ (etfiq.com). Every other number stays under its owner's terms: issuer_fields as the issuer published them, vendor_fields from an end-of-day data vendor.","fields_note":"Not yet classed field by field: only data ETFIQ computes is covered by its licence.","cite_as":"ETFIQ, Risk and return scorecard, MARW against its benchmark, data as of 2026-10-26, https://etfiq.com/funds/marw/"},"benchmark":{"ticker":"SPY","name":"SPDR® S&P 500® ETF Trust","tier":1,"kind":"reference asset","basisOnPage":"price","basisHere":"total"},"kind":"benchmark","a":"MARW","b":"SPY","window":{"from":"2023-03-10","to":"2026-10-23","firstReturn":"2023-03-17","weeklyReturns":189,"years":3.62,"short":false,"weekEnding":"2026-10-25"},"riskFree":{"rate":0.04599901,"perWeek":0.0008845963,"days":907,"series":"13-week Treasury bill, coupon equivalent, average of daily yields","source":"U.S. Department of the Treasury, Daily Treasury Bill Rates","url":"https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates"},"measures":{"total":{"a":0.49462405,"b":1.06480032,"edge":"SPY","lead":"SPY"},"annualised":{"a":0.11691308,"b":0.22076794,"edge":"SPY","lead":"SPY"},"price":{"a":0.49462405,"b":0.96929336,"edge":"SPY","lead":"SPY"},"volatility":{"a":0.05532607,"b":0.13787154,"edge":"MARW","lead":"MARW"},"downsideDeviation":{"a":0.03567465,"b":0.08776481,"edge":"MARW","lead":"MARW"},"maxDrawdown":{"a":-0.06571564,"b":-0.16877308,"edge":"MARW","lead":"MARW","aPeak":"2025-02-28","aTrough":"2025-04-04","bPeak":"2025-02-14","bTrough":"2025-04-04"},"excess":{"a":0.06621069,"b":0.16332782,"edge":"SPY","lead":"SPY"},"sharpe":{"a":1.19673593,"b":1.18463767,"edge":"Tie"},"sortino":{"a":1.85595897,"b":1.86097173,"edge":"Tie"},"calmar":{"a":1.77907546,"b":1.30807559,"edge":"MARW","lead":"MARW"}},"relative":{"MARW":{"on":"SPY","beta":0.38174971,"r2":0.90499684,"alpha":0.00386035,"alphaT":0.42470321,"alphaLow":-0.01407082,"alphaHigh":0.02179151,"upsideCapture":0.30317855,"downsideCapture":0.35953797,"treynor":0.17344007,"trackingError":0.08692819,"informationRatio":-1.11721099,"upWeeks":112,"downWeeks":77,"treynorReference":0.16332782,"edges":{"beta":{"edge":"Lower beta","neutral":true},"r2":{"edge":"Good fit","neutral":true},"alpha":{"edge":"Not significant"},"alphaRange":{"edge":"Includes zero"},"upsideCapture":{"edge":"SPY","lead":"SPY"},"downsideCapture":{"edge":"MARW","lead":"MARW"},"treynor":{"edge":"MARW (slight)","lead":"MARW"},"informationRatio":{"edge":null,"lead":"SPY","note":"one number for the pair: its sign says which side it favours"},"trackingError":{"edge":null,"neutral":true}}}},"sources":{"MARW":{"kept":"2026-10-26","distributions":0,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":10,"agree":10},"vendor":{"weeks":189,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":0.49462405}},"SPY":{"kept":"2026-10-26","distributions":15,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":9,"agree":9},"vendor":{"weeks":189,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":1.06480032}}}}