Data Source: from January 1991 to July 2022
Consolidated Returns as of 31 July 2022

Managing the Bill Bernstein Coward's Portfolio with a yearly rebalancing, you would have obtained a 7.67% compound annual return in the last 30 Years.

With a quarterly rebalancing, over the same period, the return would have been 7.64%.

How do returns and drawdowns change, implementing different rebalancing strategies?

Rebalancing Strategies

In order to keep risk under control, you should rebalance assets quotes from time to time, so to keep them at the original percentage of the asset allocation.

Rebalancing can be performed in several ways.

At fixed time intervals:
  • Yearly: Jan 1st
  • Half Yearly: Jan 1st, Jul 1st
  • Quarterly: Jan 1st, Apr 1st, Jul 1st, Oct 1st
When a component (at least one) diverges from its original weight beyond a certain threshold (e.g. 5% or 10%).

Portfolio Returns as of Jul 31, 2022

Implementing different rebalancing strategies, the Bill Bernstein Coward's Portfolio guaranteed the following returns.

According to the available data source, let's assume we built the portfolio on January 1991.

Portfolio returns are calculated in USD, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends, if existing
BILL BERNSTEIN COWARD'S PORTFOLIO RETURNS
Period: January 1991 - July 2022
Swipe left to see all data
 
Return (%) and number of rebalances as of Jul 31, 2022
Rebalancing Strategy 1Y 5Y(*) 10Y(*) 30Y(*) (**)Since
Inception
Yearly Rebalancing -6.44 (1) 5.61 (5) 7.05 (10) 7.67 (30) 8.26 (32)
Half Yearly Rebalancing -6.52 (2) 5.79 (10) 7.07 (20) 7.55 (60) 8.13 (64)
Quarterly Rebalancing -6.61 (4) 5.99 (20) 7.14 (40) 7.64 (120) 8.21 (127)
5% Tolerance per asset -6.68 (1) 5.76 (2) 7.22 (4) 7.71 (12) 8.32 (12)
10% Tolerance per asset -6.81 (0) 6.08 (1) 7.43 (2) 7.54 (3) 8.15 (3)
(*) Returns over 1 year are annualized
(**) Since Jan 1991 (~32 yrs) | Annualized Returns

In order to have complete information about the portfolio, please refer to the Bill Bernstein Coward's Portfolio: ETF allocation and returns page.

Performances as of Jul 31, 2022

Historical returns and stats of Bill Bernstein Coward's Portfolio, after implementing different rebalancing strategies.

BILL BERNSTEIN COWARD'S PORTFOLIO PERFORMANCES
Period: January 1991 - July 2022
Swipe left to see all data
Standard Deviation
Max Drawdown (%)
Rebalancing Strategy (*)Return (%) StDev(%) Ret/StDev MaxDD(%) Ret/MaxDD
Yearly Rebalancing 8.26 (32) 9.15 0.90 -33.85 0.24
Half Yearly Rebalancing 8.13 (64) 9.17 0.89 -34.51 0.24
Quarterly Rebalancing 8.21 (127) 9.23 0.89 -34.62 0.24
5% Tolerance per asset 8.32 (12) 9.43 0.88 -34.88 0.24
10% Tolerance per asset 8.15 (3) 9.88 0.83 -37.52 0.22
(*) Since Jan 1991 (~32 yrs) | Annualized Returns (and number of rebalances)

Drawdowns as of Jul 31, 2022

Historical Drawdowns of Bill Bernstein Coward's Portfolio, after implementing different rebalancing strategies.

BILL BERNSTEIN COWARD'S PORTFOLIO DRAWDOWNS
Period: January 1991 - July 2022
Swipe left to see all data
Rebalancing
Tolerance per asset
Yearly Half Yearly Quarterly 5% 10%
-33.85
Nov 2007 - Dec 2010
-34.51
Nov 2007 - Dec 2010
-34.62
Nov 2007 - Dec 2010
-34.88
Nov 2007 - Dec 2010
-37.52
Nov 2007 - Feb 2011
-15.13
Jan 2020 - Nov 2020
-15.13
Jan 2020 - Nov 2020
-15.13
Jan 2020 - Aug 2020
-16.26
Jan 2020 - Nov 2020
-17.51
Jan 2020 - Nov 2020
-13.12
Jan 2022 - In progress
-13.12
Jan 2022 - In progress
-13.18
Jan 2022 - In progress
-13.20
Jan 2022 - In progress
-13.48
Jan 2022 - In progress
-11.86
May 2011 - Feb 2012
-12.46
Feb 2001 - Aug 2003
-11.82
Feb 2001 - Jun 2003
-12.25
May 2011 - Feb 2012
-13.32
May 2011 - Feb 2012
-11.84
Feb 2001 - Jul 2003
-11.71
May 2011 - Feb 2012
-11.67
May 2011 - Feb 2012
-11.80
May 1998 - Dec 1998
-13.21
Feb 2001 - Aug 2003
5 Worst Drawdowns - Average
-17.16 -17.39 -17.28 -17.68 -19.01
10 Worst Drawdowns - Average
-12.30 -12.37 -12.31 -13.07 -13.60

For a deeper insight, please refer to the Bill Bernstein Coward's Portfolio: ETF allocation and returns page.

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