It certainly was a fantastic five days for the S&P/ASX 200 Index (ASX: XJO) last week. The benchmark index stormed 4.2% higher over the period to end at 5998.69 points.

Not all shares were able to climb higher with the market, though. Here’s why these were the worst performers on the ASX 200:

The Gold Road Resources Ltd (ASX: GOR) share price was the worst performer on the ASX 200 last week with a 14.4% decline. This was driven by a pullback in the gold price after risk appetite improved. A number of other gold miners including Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST), Saracen Mineral Holdings Limited (ASX: SAR), and Silver Lake Resources Limited (ASX: SLR) were also among the worst performers during the week.

The Nufarm Limited (ASX: NUF) share price was a poor performer last week and fell 8.9%. This decline appears to have been driven by a broker note out of Macquarie. According to the note, the broker downgraded Nufarm’s shares to an underperform rating with a $4.85 price target. Its analysts were underwhelmed with its trading update and appear concerned over its prospects in the important fourth quarter.

The Pro Medicus Limited (ASX: PME) share price was out of form and fell 8% over the period. This was despite the healthcare technology company announcing a major contract win. It appears as though a broker note out of UBS offset this good news. The broker downgraded Pro Medicus’ shares to a neutral rating with a $29.65 price target. It made the move on valuation grounds.

The TPG Telecom Ltd (ASX: TPM) share price wasn’t far behind with a 7.2% decline last week. It looks as though some investors were taking a bit of profit off the table after a strong share price gain over the last month. TPG Telecom’s gain since the beginning of May was driven by optimism over the progress it is making with its merger plans with Vodafone Australia.    

More reading

• ASX 200 down 0.35%: UBS upgrades NAB and Westpac, Qantas soars again
• Top broker tips the Vocus share price to zoom higher
• 5 things to watch on the ASX 200 on Friday
• Why the Nufarm share price is crashing lower today
• These ASX healthcare shares could be long term market beaters

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia has recommended Pro Medicus Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Building long-term wealth through an ASX growth portfolio and inclusions like Afterpay Ltd (ASX: APT) shares is a lucrative path tempting many investors. Sure, you don’t get the certainty and income that more mature, dividend-paying companies can offer. But hitching your wagon to a real winner can be a life-changing experience.

So, with that in mind, here’s how I would build a $100,000 ASX portfolio with ASX growth shares.

Spend $25,000 on Xero Limited (ASX: XRO) shares

Xero has been one of the biggest growth stars of the ASX for a few years now – and for good reason. This cloud-based software as a service (SaaS) company has baked up a storm with stellar subscriber growth numbers and a scalable business model. Last year alone, this company grew its subscribers by double digits in the target markets of the United Kingdom, the United States and Australia.

It grew revenue by 30% – giving an indication of the company’s potential. Perhaps, unfortunately, the market has long known about its potential and shares are, therefore, priced accordingly. But that doesn’t stop a real winner in the end.

Spend $25,000 on BetaShares Global Cybersecurity ETF (ASX: HACK) shares

Aside from having my favourite ticker symbol on the ASX, I think this exchange-traded fund is a worthy investment for a growth portfolio. As the name implies, this ETF invests in companies operating in the digital security sector.

I think the demand for cybersecurity services will continue to rise with the flood of commerce moving online every year (clearly accelerated in 2020). And these are exactly the kinds of companies HACK invests in. Some of its current holdings include Crowdstrike, Splunk, Cisco, and Palo Alto.

Spend $25,000 on Pushpay Holdings Ltd (ASX: PPH) shares 

Pushpay is another payments company. But unlike Afterpay’s buy now, pay later offering, this business targets the very niche area of donation management. It provides a model for any organisation that might still rely on the old ‘pass the hat around’ funding model – think churches and charities.

The signs of the trend toward a cashless society are now becoming incontrovertible. This stems heavily from the coronavirus pandemic. As such, I think this company is worth having some faith in.

Lastly, spend $25,000 on Afterpay shares 

Finally, you can’t have a real ASX growth portfolio without at least considering this wunderkind. And after consideration, I think Afterpay shares more than deserves a role in our growth portfolio. This company has a remarkable track record of proving its detractors wrong over its short life. It has been able to easily crack the US and UK markets and appears to be growing strongly throughout this recent coronavirus crisis, despite fears over credit risk.

I think Afterpay has a decent chance at one day rivalling the US-listed payment giants like Mastercard (NYSE: MA), Visa (NYSE: V) and American Express (NYSE: AXP). Thus, I think it’s a deserving company to have in our ASX growth shares portfolio.

More reading

• What ASX shares should you invest in during a bull market?
• What the 10 largest companies in the world have in common
• 2 ASX growth shares I’d buy before Afterpay shares
• 3 of the best ASX 200 tech shares for your watchlist
• The Xero share price just hit a record high: Is it too late to invest?

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO, PUSHPAY FPO NZX, and Xero. The Motley Fool Australia owns shares of BETA CYBER ETF UNITS. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The 2020 stock market crash could cause investors to become increasingly concerned about their portfolio’s capacity to survive an uncertain economic outlook. After all, with many industries likely to suffer from reduced demand for their goods and services, it could prove to be an uncertain period for the stock market.

Through buying a diverse range of financially sound companies with defensive characteristics, you could protect your portfolio from a future market crash.

Diversification

Perhaps the simplest and most effective means of reducing your portfolio’s risks is diversification. Holding a larger number of companies reduces your reliance on a small number of businesses to generate capital growth or income, which is likely to make your portfolio returns more stable and consistent.

Furthermore, investing in multiple geographies and industries could reduce your overall risks. For example, the coronavirus pandemic is likely to affect some regions and sectors more than others. By having exposure to a wide range of countries and industries, you may be better able to protect your portfolio’s returns in the long run.

Fortunately, the cost of buying stocks has fallen significantly over recent years through the growth in online sharedealing. Therefore, diversification is cheaper and more accessible to a larger number of investors than it used to be.

Defensive stocks

Buying defensive stocks could limit your losses during a market crash. Defensive stocks are generally less impacted by an economic downturn than their cyclical peers. They may, for example, have business models that are relatively unreliant on the performance of the economy. This may allow them to deliver solid financial performances even during a recession or depression.

Examples of sectors where defensive stocks may be found include utilities, tobacco and healthcare. Although they may not necessarily offer capital growth during bull markets that can match that of cyclical businesses, they may continue to be relatively popular among investors during challenging market conditions. As such, their total returns in the long run could prove to be relatively impressive.

Financially-sound businesses

Another means of preparing for a market crash is to buy stocks that have solid financial positions. This may include companies that have modest debt levels, access to multiple sources of finance, as well as large cash balances. They may be able to withstand a period of lower sales or even losses better than their sector peers. This could make them attractive to investors, which may help to support their stock prices.

Through analysing company annual reports and investor updates, it is possible to build a relatively accurate picture of the financial strength of a business before buying it. Taking the time to understand its balance sheet strength could help you to avoid severe declines during a market crash, which could lead to higher returns from your portfolio over the long term.

More reading

• These were the worst performers on the ASX 200 last week
• Building a $100,000 portfolio with Afterpay shares and 3 other ASX companies
• ETFs I’d pick to build a passive portfolio
• Coronavirus: why I’d buy shares during this market volatility
• What ASX shares should you invest in during a bull market?

Motley Fool contributor Peter Stephens has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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