Stocks/Bonds 60/40 Portfolio: ETF allocation and returns

Data Source: from January 1871 to February 2024 (~153 years)
Consolidated Returns as of 29 February 2024
Live Update: Mar 18 2024
PORTFOLIO • LIVE PERFORMANCE (USD currency)
0.26%
1 Day
Mar 18 2024
0.53%
Current Month
March 2024

The Stocks/Bonds 60/40 Portfolio is a High Risk portfolio and can be implemented with 2 ETFs.

It's exposed for 60% on the Stock Market.

In the last 30 Years, the Stocks/Bonds 60/40 Portfolio obtained a 8.22% compound annual return, with a 9.62% standard deviation.

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Asset Allocation and ETFs

The Stocks/Bonds 60/40 Portfolio has the following asset allocation:

60% Stocks
40% Fixed Income
0% Commodities

The Stocks/Bonds 60/40 Portfolio can be implemented with the following ETFs:

Weight (%) Ticker Currency ETF Name Investment Themes
60.00
VTI
USD Vanguard Total Stock Market Equity, U.S., Large Cap
40.00
BND
USD Vanguard Total Bond Market Bond, U.S., All-Term

Most of Lazy Portfolios are made of common components (asset classes), very simple and well defined. For a more complete view, find out the most common ETFs you can use to build your portfolio.

Portfolio and ETF Returns as of Feb 29, 2024

The Stocks/Bonds 60/40 Portfolio guaranteed the following returns.

Returns are calculated in USD, assuming: March 2024 return is calculated on the hypothesis of a newly built portfolio, with the starting asset allocation.
STOCKS/BONDS 60/40 PORTFOLIO
Consolidated returns as of 29 February 2024
Live Update: Mar 18 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Feb 29, 2024
  1 Day Time ET(*) Mar 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~153Y)
Stocks/Bonds 60/40 Portfolio 0.26 0.53 2.65 9.22 18.40 8.67 7.85 8.22 7.68
US Inflation Adjusted return 2.20 7.51 14.77 4.30 4.89 5.54 5.44
Components
VTI
USD Vanguard Total Stock Market 0.51 Mar 18 2024 0.96 5.30 13.69 28.61 13.82 11.96 10.22 9.14
BND
USD Vanguard Total Bond Market -0.12 Mar 18 2024 -0.12 -1.36 2.38 3.47 0.54 1.39 4.19 4.48
Returns over 1 year are annualized | Available data source: since Jan 1871
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Feb 2024. Current inflation (annualized) is 1Y: 3.17% , 5Y: 4.19% , 10Y: 2.82% , 30Y: 2.54%

In 2023, the Stocks/Bonds 60/40 Portfolio granted a 2.36% dividend yield. If you are interested in getting periodic income, please refer to the Stocks/Bonds 60/40 Portfolio: Dividend Yield page.

Capital Growth as of Feb 29, 2024

An investment of 1$, since March 1994, now would be worth 10.68$, with a total return of 968.39% (8.22% annualized).

The Inflation Adjusted Capital now would be 5.04$, with a net total return of 403.88% (5.54% annualized).
An investment of 1$, since January 1871, now would be worth 83439.17$, with a total return of 8343817.43% (7.68% annualized).

The Inflation Adjusted Capital now would be 3347.32$, with a net total return of 334631.78% (5.44% annualized).

Portfolio Metrics as of Feb 29, 2024

Metrics of Stocks/Bonds 60/40 Portfolio, updated as of 29 February 2024.

Metrics are calculated based on monthly returns, assuming:
STOCKS/BONDS 60/40 PORTFOLIO
Advanced Metrics
Data Source: 1 January 1871 - 29 February 2024 (~153 years)
Swipe left to see all data
Metrics as of Feb 29, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~153Y)
Investment Return (%) 2.65 8.09 9.22 18.40 4.77 8.67 7.85 7.45 8.22 7.68
Infl. Adjusted Return (%) details 2.20 7.04 7.51 14.77 -0.85 4.30 4.89 4.74 5.54 5.44
US Inflation (%) 0.44 0.98 1.59 3.17 5.68 4.19 2.82 2.59 2.54 2.12
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -7.47 -20.69 -20.69 -20.69 -30.55 -30.55 -62.03
Start to Recovery (# months) details 5 26 26 26 36 36 83
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2007 11 2007 11 1929 09
Start to Bottom (# months) 3 9 9 9 16 16 33
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2009 02 1932 05
Bottom to End (# months) 2 17 17 17 20 20 50
End (yyyy mm) 2023 12 2024 02 2024 02 2024 02 2010 10 2010 10 1936 07
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
-21.56
same as
deepest
Start to Recovery (# months) details 41
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2007 11 2000 09 1929 09
Start to Bottom (# months) 3 9 9 9 16 25 33
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2002 09 1932 05
Bottom to End (# months) 2 17 17 17 20 16 50
End (yyyy mm) 2023 12 2024 02 2024 02 2024 02 2010 10 2004 01 1936 07
Longest negative period (# months) details 7 32 34 34 61 110 154
Period Start (yyyy mm) 2023 04 2021 03 2021 01 2021 01 2004 03 2000 01 1929 09
Period End (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2009 03 2009 02 1942 06
Annualized Return (%) -1.48 -0.42 -0.14 -0.14 -0.45 -0.03 -0.11
Deepest Drawdown Depth (%) -8.35 -25.27 -25.27 -25.27 -31.69 -31.69 -52.05
Start to Recovery (# months) details 5 30* 30* 30* 38 38 71
Start (yyyy mm) 2023 08 2021 09 2021 09 2021 09 2007 11 2007 11 1929 09
Start to Bottom (# months) 3 13 13 13 16 16 33
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2009 02 1932 05
Bottom to End (# months) 2 17 17 17 22 22 38
End (yyyy mm) 2023 12 - - - 2010 12 2010 12 1935 07
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
-25.08 -38.92
Start to Recovery (# months) details 66 122
Start (yyyy mm) 2023 08 2021 09 2021 09 2021 09 2007 11 2000 09 1973 01
Start to Bottom (# months) 3 13 13 13 16 25 21
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2002 09 1974 09
Bottom to End (# months) 2 17 17 17 22 41 101
End (yyyy mm) 2023 12 - - - 2010 12 2006 02 1983 02
Longest negative period (# months) details 8 36* 47 49 65 132 263
Period Start (yyyy mm) 2023 03 2021 03 2019 12 2018 09 2004 03 1998 03 1899 02
Period End (yyyy mm) 2023 10 2024 02 2023 10 2022 09 2009 07 2009 02 1920 12
Annualized Return (%) -0.28 -0.85 -0.43 -0.04 -0.16 -0.32 -0.12
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 10.65 12.74 12.59 10.15 9.65 9.62 10.21
Sharpe Ratio 1.24 0.19 0.54 0.66 0.63 0.62 0.36
Sortino Ratio 1.77 0.26 0.72 0.88 0.83 0.81 0.50
Ulcer Index 2.59 9.79 7.86 5.77 6.72 6.91 9.24
Ratio: Return / Standard Deviation 1.73 0.37 0.69 0.77 0.77 0.85 0.75
Ratio: Return / Deepest Drawdown 2.46 0.23 0.42 0.38 0.24 0.27 0.12
% Positive Months details 66% 61% 65% 68% 67% 66% 62%
Positive Months 8 22 39 82 162 239 1150
Negative Months 4 14 21 38 78 121 688
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 7.85 11.56 11.56 15.69
Worst 10 Years Return (%) - Annualized 6.28 1.34 -0.01
Best 10 Years Return (%) - Annualized 4.89 9.63 9.63 14.69
Worst 10 Years Return (%) - Annualized 3.87 -1.22 -4.21
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 35.19 22.00 19.17 11.56 8.95 8.22
Worst Rolling Return (%) - Annualized -25.46 -6.40 -1.44 1.34 5.43
% Positive Periods 82% 90% 99% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 85.14 28.44 17.66 9.35 5.73 7.35
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 2.73 5.89
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 32.34 19.22 16.40 9.63 6.48 5.54
Worst Rolling Return (%) - Annualized -25.47 -8.48 -3.98 -1.22 3.28
% Positive Periods 78% 80% 94% 97% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 85.14 28.44 17.66 9.35 5.73 7.35
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 2.73 5.89
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1871 - Feb 2024)
Best Rolling Return (%) - Annualized 83.44 28.79 23.38 15.69 14.69 12.20
Worst Rolling Return (%) - Annualized -44.89 -25.23 -8.90 -0.01 3.15 3.74
% Positive Periods 77% 90% 96% 99% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 77.10 24.36 14.10 7.91 4.79 4.03
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 1.95
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 96.44 25.29 22.15 14.69 10.42 8.08
Worst Rolling Return (%) - Annualized -38.81 -19.29 -10.35 -4.21 -0.57 1.73
% Positive Periods 70% 81% 87% 91% 99% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 77.10 24.36 14.10 7.91 4.79 4.03
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 1.95
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Talking about withdrawal rates, how would you manage your early retirement with the Stocks/Bonds 60/40 Portfolio? Read more here

Portfolio Components Correlation

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.
COMPONENTS MONTHLY CORRELATIONS
Monthly correlations as of 29 February 2024
Swipe left to see all data
Asset
VTI
BND
VTI
-
0.69
BND
0.69
-
Asset
VTI
BND
VTI
-
0.52
BND
0.52
-
Asset
VTI
BND
VTI
-
0.38
BND
0.38
-
Asset
VTI
BND
VTI
-
0.16
BND
0.16
-
Asset
VTI
BND
VTI
-
0.15
BND
0.15
-

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

STOCKS/BONDS 60/40 PORTFOLIO
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1871 - 29 February 2024 (~153 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-30.55% Nov 2007 Feb 2009 16 Oct 2010 20 36 13.38
-21.56% Sep 2000 Sep 2002 25 Jan 2004 16 41 11.96
-20.69% Jan 2022 Sep 2022 9 Feb 2024 17 26 11.44
-12.29% Feb 2020 Mar 2020 2 Jul 2020 4 6 5.29
-10.18% Jul 1998 Aug 1998 2 Nov 1998 3 5 4.93
-9.00% May 2011 Sep 2011 5 Jan 2012 4 9 3.76
-8.38% Sep 2018 Dec 2018 4 Mar 2019 3 7 3.89
-5.35% Apr 2000 May 2000 2 Aug 2000 3 5 2.94
-5.24% Jun 2015 Sep 2015 4 Apr 2016 7 11 2.81
-4.50% Mar 1994 Jun 1994 4 Aug 1994 2 6 2.85
-3.76% Jul 1999 Sep 1999 3 Oct 1999 1 4 2.29
-3.67% Feb 2018 Apr 2018 3 Jul 2018 3 6 2.37
-3.54% Sep 2020 Oct 2020 2 Nov 2020 1 3 2.08
-3.54% May 2012 May 2012 1 Aug 2012 3 4 1.66
-3.41% May 2019 May 2019 1 Jun 2019 1 2 1.97
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-31.69% Nov 2007 Feb 2009 16 Dec 2010 22 38 14.83
-25.27% Sep 2021 Sep 2022 13 in progress 17 30 15.76
-25.08% Sep 2000 Sep 2002 25 Feb 2006 41 66 12.50
-12.03% Feb 2020 Mar 2020 2 Jun 2020 3 5 5.45
-10.51% Jul 1998 Aug 1998 2 Nov 1998 3 5 5.18
-10.01% May 2011 Sep 2011 5 Feb 2012 5 10 4.28
-8.78% Sep 2018 Dec 2018 4 Apr 2019 4 8 3.94
-5.78% Mar 2015 Sep 2015 7 Jun 2016 9 16 2.77
-5.46% Apr 2000 May 2000 2 Aug 2000 3 5 3.23
-5.28% Mar 1994 Jun 1994 4 Feb 1995 8 12 3.14
-4.79% Jul 1999 Sep 1999 3 Nov 1999 2 5 2.66
-4.20% Feb 2018 Apr 2018 3 Aug 2018 4 7 2.59
-3.87% Sep 2020 Oct 2020 2 Nov 2020 1 3 2.28
-3.69% Jun 1996 Jul 1996 2 Sep 1996 2 4 1.89
-3.49% Apr 2012 May 2012 2 Aug 2012 3 5 1.48
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-62.03% Sep 1929 May 1932 33 Jul 1936 50 83 33.36
-31.73% Mar 1937 Mar 1938 13 Jan 1943 58 71 13.31
-30.55% Nov 2007 Feb 2009 16 Oct 2010 20 36 13.38
-27.28% Jan 1973 Sep 1974 21 Jan 1976 16 37 11.90
-21.56% Sep 2000 Sep 2002 25 Jan 2004 16 41 11.96
-20.69% Jan 2022 Sep 2022 9 Feb 2024 17 26 11.44
-19.17% Sep 1987 Nov 1987 3 Jan 1989 14 17 9.40
-18.96% Apr 1876 Jun 1877 15 Jul 1878 13 28 9.71
-18.76% Dec 1968 Jun 1970 19 Jan 1971 7 26 9.23
-17.90% Oct 1906 Nov 1907 14 Aug 1908 9 23 9.30
-16.37% Feb 1893 Aug 1893 7 May 1895 21 28 8.46
-16.01% Oct 1902 Oct 1903 13 Oct 1904 12 25 9.93
-13.61% Dec 1916 Dec 1917 13 Apr 1919 16 29 6.35
-13.39% Nov 1919 Jun 1921 20 Feb 1922 8 28 8.21
-13.30% Jun 1946 Nov 1946 6 Sep 1949 34 40 8.06
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-52.05% Sep 1929 May 1932 33 Jul 1935 38 71 24.13
-44.78% Jan 1916 Jul 1920 55 Aug 1924 49 104 25.46
-38.92% Jan 1973 Sep 1974 21 Feb 1983 101 122 20.81
-31.86% Jun 1946 Feb 1948 21 Jan 1952 47 68 20.33
-31.73% Mar 1937 Mar 1938 13 Dec 1944 81 94 14.81
-31.69% Nov 2007 Feb 2009 16 Dec 2010 22 38 14.83
-25.88% Dec 1968 Jun 1970 19 Feb 1972 20 39 12.56
-25.27% Sep 2021 Sep 2022 13 in progress 17 30 15.76
-25.08% Sep 2000 Sep 2002 25 Feb 2006 41 66 12.50
-22.76% Feb 1906 Oct 1907 21 Nov 1908 13 34 10.96
-19.94% Sep 1987 Nov 1987 3 Jun 1989 19 22 10.26
-19.50% Jul 1901 Feb 1904 32 Feb 1905 12 44 11.14
-18.28% Jul 1911 Oct 1914 40 Oct 1915 12 52 9.31
-18.19% Jul 1876 May 1877 11 Jan 1878 8 19 10.75
-16.49% Feb 1899 Dec 1899 11 Jan 1901 13 24 9.91

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

STOCKS/BONDS 60/40 PORTFOLIO
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1871 - 29 February 2024 (~153 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -25.46 03/2008
02/2009
0.74$ -2.67 0.97$ 10.25 1.10$ 17.79 1.17$ 35.19 03/2009
02/2010
1.35$ 18.40 17.77%
2Y -13.47 03/2007
02/2009
0.74$ -0.62 0.98$ 8.85 1.18$ 15.82 1.34$ 25.48 03/2009
02/2011
1.57$ 3.84 16.02%
3Y -6.40 03/2006
02/2009
0.82$ 1.88 1.05$ 8.42 1.27$ 13.91 1.47$ 22.00 04/1995
03/1998
1.81$ 4.77 9.54%
5Y -1.44 03/2004
02/2009
0.93$ 3.31 1.17$ 7.50 1.43$ 11.83 1.74$ 19.17 01/1995
12/1999
2.40$ 8.67 0.66%
7Y 0.82 03/2002
02/2009
1.05$ 4.95 1.40$ 7.20 1.62$ 9.77 1.91$ 13.27 07/1994
06/2001
2.39$ 8.25 0.00%
10Y 1.34 03/1999
02/2009
1.14$ 5.09 1.64$ 7.53 2.06$ 9.76 2.53$ 11.56 03/2009
02/2019
2.98$ 7.85 0.00%
15Y 5.21 09/2000
08/2015
2.14$ 5.93 2.37$ 7.15 2.81$ 8.05 3.19$ 10.59 03/2009
02/2024
4.52$ 10.59 0.00%
20Y 5.43 04/2000
03/2020
2.88$ 6.41 3.46$ 7.44 4.20$ 8.09 4.73$ 8.95 12/1994
11/2014
5.55$ 7.45 0.00%
30Y 8.22 03/1994
02/2024
10.68$ 8.22 10.68$ 8.22 10.68$ 8.22 10.68$ 8.22 03/1994
02/2024
10.68$ 8.22 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -25.47 03/2008
02/2009
0.74$ -4.72 0.95$ 7.92 1.07$ 15.34 1.15$ 32.34 03/2009
02/2010
1.32$ 14.77 21.78%
2Y -15.21 03/2007
02/2009
0.71$ -3.51 0.93$ 6.32 1.13$ 13.32 1.28$ 22.86 03/2009
02/2011
1.50$ -0.68 21.07%
3Y -8.48 04/2000
03/2003
0.76$ -1.09 0.96$ 6.05 1.19$ 11.42 1.38$ 19.22 04/1995
03/1998
1.69$ -0.85 20.00%
5Y -3.98 03/2004
02/2009
0.81$ 0.87 1.04$ 5.48 1.30$ 9.48 1.57$ 16.40 01/1995
12/1999
2.13$ 4.30 5.65%
7Y -1.71 03/2002
02/2009
0.88$ 2.23 1.16$ 4.56 1.36$ 7.91 1.70$ 10.50 03/2009
02/2016
2.01$ 4.56 2.17%
10Y -1.22 03/1999
02/2009
0.88$ 2.56 1.28$ 5.15 1.65$ 7.60 2.07$ 9.63 03/2009
02/2019
2.50$ 4.89 2.90%
15Y 2.98 09/2000
08/2015
1.55$ 3.49 1.67$ 4.72 1.99$ 5.83 2.33$ 7.82 03/2009
02/2024
3.09$ 7.82 0.00%
20Y 3.28 04/2000
03/2020
1.90$ 4.16 2.25$ 4.95 2.62$ 5.77 3.06$ 6.48 12/1994
11/2014
3.51$ 4.74 0.00%
30Y 5.54 03/1994
02/2024
5.03$ 5.54 5.03$ 5.54 5.03$ 5.54 5.03$ 5.54 03/1994
02/2024
5.03$ 5.54 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -44.89 07/1931
06/1932
0.55$ -3.40 0.96$ 8.30 1.08$ 19.71 1.19$ 83.44 07/1932
06/1933
1.83$ 18.40 22.71%
2Y -34.28 06/1930
05/1932
0.43$ -0.05 0.99$ 8.07 1.16$ 16.19 1.35$ 35.24 07/1932
06/1934
1.82$ 3.84 15.15%
3Y -25.23 07/1929
06/1932
0.41$ 1.83 1.05$ 7.79 1.25$ 14.34 1.49$ 28.79 03/1933
02/1936
2.13$ 4.77 9.37%
5Y -8.90 06/1927
05/1932
0.62$ 3.09 1.16$ 7.69 1.44$ 12.87 1.83$ 23.38 06/1932
05/1937
2.85$ 8.67 3.43%
7Y -2.67 07/1925
06/1932
0.82$ 4.06 1.32$ 7.54 1.66$ 11.96 2.20$ 18.96 04/1980
03/1987
3.37$ 8.25 0.74%
10Y -0.01 09/1929
08/1939
0.99$ 4.55 1.56$ 7.34 2.03$ 11.24 2.90$ 15.69 08/1982
07/1992
4.29$ 7.85 0.06%
15Y 2.25 09/1881
08/1896
1.39$ 5.30 2.17$ 7.18 2.82$ 10.57 4.51$ 15.35 08/1982
07/1997
8.51$ 10.59 0.00%
20Y 3.15 06/1912
05/1932
1.85$ 5.58 2.96$ 7.26 4.06$ 10.13 6.88$ 14.69 04/1980
03/2000
15.51$ 7.45 0.00%
30Y 3.74 06/1902
05/1932
3.01$ 5.75 5.35$ 7.87 9.71$ 9.87 16.86$ 12.20 07/1970
06/2000
31.59$ 8.22 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -38.81 07/1931
06/1932
0.61$ -6.48 0.93$ 6.44 1.06$ 18.75 1.18$ 96.44 07/1932
06/1933
1.96$ 14.77 29.94%
2Y -27.01 06/1930
05/1932
0.53$ -2.97 0.94$ 5.97 1.12$ 14.27 1.30$ 36.24 07/1932
06/1934
1.85$ -0.68 23.47%
3Y -19.29 07/1929
06/1932
0.52$ -0.96 0.97$ 5.77 1.18$ 12.31 1.41$ 25.29 07/1932
06/1935
1.96$ -0.85 18.25%
5Y -10.35 01/1916
12/1920
0.57$ 0.42 1.02$ 5.87 1.33$ 10.83 1.67$ 22.15 06/1932
05/1937
2.71$ 4.30 12.70%
7Y -6.22 06/1913
05/1920
0.63$ 1.43 1.10$ 5.42 1.44$ 9.91 1.93$ 16.78 09/1921
08/1928
2.96$ 4.56 9.40%
10Y -4.21 07/1911
06/1921
0.65$ 1.73 1.18$ 5.59 1.72$ 9.10 2.38$ 14.69 06/1920
05/1930
3.93$ 4.89 8.61%
15Y -2.07 08/1905
07/1920
0.73$ 2.34 1.41$ 5.45 2.21$ 8.15 3.23$ 11.58 08/1982
07/1997
5.17$ 7.82 2.59%
20Y -0.57 07/1901
06/1921
0.89$ 2.81 1.73$ 5.29 2.80$ 7.40 4.17$ 10.42 04/1980
03/2000
7.26$ 4.74 0.56%
30Y 1.73 08/1890
07/1920
1.67$ 3.88 3.12$ 5.09 4.43$ 6.52 6.65$ 8.08 05/1871
04/1901
10.28$ 5.54 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the Stocks/Bonds 60/40 Portfolio: Rolling Returns page.

Seasonality

In which months is it better to invest in Stocks/Bonds 60/40 Portfolio?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.37
60%
-0.94
40%
-0.35
80%
1.61
80%
0.05
60%
1.37
80%
3.00
100%
0.09
40%
-3.12
20%
1.24
60%
4.23
80%
1.58
80%
Best 5.5
2023
2.7
2024
2.7
2023
8.3
2020
3.3
2020
4.8
2019
6.3
2022
3.8
2020
0.9
2019
4.3
2021
7.6
2023
4.7
2023
Worst -4.5
2022
-4.1
2020
-8.6
2020
-7.1
2022
-3.4
2019
-5.5
2022
0.9
2019
-3.3
2022
-7.1
2022
-2.2
2023
-0.9
2021
-3.8
2022
Monthly Seasonality over the period Feb 1871 - Feb 2024
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.76
60%
0.04
60%
0.16
70%
1.01
80%
0.64
80%
0.90
80%
2.10
90%
0.24
60%
-1.71
30%
0.75
60%
2.82
90%
0.39
60%
Best 5.6
2019
2.8
2015
4.5
2016
8.3
2020
3.3
2020
4.8
2019
6.3
2022
3.8
2020
1.3
2017
4.6
2015
7.6
2023
4.7
2023
Worst -4.5
2022
-4.1
2020
-8.6
2020
-7.1
2022
-3.4
2019
-5.5
2022
-1.3
2014
-3.8
2015
-7.1
2022
-5.0
2018
-0.9
2021
-4.9
2018
Monthly Seasonality over the period Feb 1871 - Feb 2024
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.07
66%
0.38
57%
0.46
65%
0.95
66%
0.31
57%
0.56
61%
0.90
61%
0.82
67%
0.04
57%
0.41
58%
1.02
65%
1.03
72%
Best 8.7
1975
7.1
1931
6.6
1928
24.3
1933
11.2
1933
14.4
1938
18.4
1932
20.8
1932
7.8
1939
8.9
1974
8.4
1928
8.1
1873
Worst -5.7
2009
-10.8
1933
-15.4
1938
-10.2
1932
-14.5
1940
-10.0
1930
-6.1
1934
-9.0
1998
-17.3
1931
-13.9
1987
-7.1
1929
-8.0
1931
Monthly Seasonality over the period Feb 1871 - Feb 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Stocks/Bonds 60/40 Portfolio over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

STOCKS/BONDS 60/40 PORTFOLIO
Monthly Returns Distribution
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1871 - 29 February 2024 (~153 years)
239 Positive Months (66%) - 121 Negative Months (34%)
1150 Positive Months (63%) - 688 Negative Months (37%)
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(Scroll down to see all data)
Investment Returns, up to December 2007, have been derived using the historical series of equivalent ETFs / Assets, instead of the actual ETFs of the portfolio.
You can find additional information on extended Data Sources here.

In particular, the series derived from equivalent datasets are:
  • VTI - Vanguard Total Stock Market (VTI), up to December 2001
  • BND - Vanguard Total Bond Market (BND), up to December 2007

Portfolio efficiency

The following portfolios granted a higher return over 30 Years and a less severe drawdown at the same time.

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Allocation
30 Years Stats (%)
Portfolio Author Stocks Bonds Comm Ann.
Return
Standard
Deviation
Ulcer
Index
Deepest
Drawdown
Longest
Drawdown
Longest
Neg.Period
Avg
Rank
Shield Strategy Aim Ways 42 38 20 +8.74 8.84 5.61 -19.36 39 44
Stocks/Bonds 60/40 60 40 0 +8.22 9.62 6.91 -30.55 41 110

In the following table, you can compare the current portfolio with a list of famous portfolios. Metrics are calculated over the last 30 Years.

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Allocation
30 Years Stats (%)
Portfolio Author Stocks Bonds Comm Ann.
Return
Standard
Deviation
Ulcer
Index
Deepest
Drawdown
Longest
Drawdown
Longest
Neg.Period
Avg
Rank
US Stocks 100 0 0 +10.22 15.55 14.31 -50.84 67 139
Stocks/Bonds 80/20 80 20 0 +9.29 12.51 10.40 -41.09 59 122
Stocks/Bonds 60/40 60 40 0 +8.22 9.62 6.91 -30.55 41 110
Weird Portfolio Value Stock Geek 60 20 20 +8.09 10.84 6.58 -32.97 29 47
Couch Potato Scott Burns 50 50 0 +8.04 8.75 5.21 -27.04 33 62
Core Four Rick Ferri 80 20 0 +8.04 12.21 9.88 -44.44 42 116
Yale Endowment David Swensen 70 30 0 +7.80 10.83 7.46 -40.68 38 62
Three Funds Bogleheads 80 20 0 +7.78 12.39 10.84 -43.68 57 118
Golden Butterfly Tyler 40 40 20 +7.56 7.73 3.59 -17.79 26 39
Coffeehouse Bill Schultheis 60 40 0 +7.50 9.72 6.15 -33.93 36 62
All Weather Portfolio Ray Dalio 30 55 15 +7.34 7.40 4.35 -20.58 26 46
Pinwheel 65 25 10 +7.20 10.50 6.58 -36.89 36 51
Stocks/Bonds 40/60 40 60 0 +7.00 6.99 4.22 -19.17 33 50
Ivy Portfolio Mebane Faber 60 20 20 +6.89 11.58 9.24 -47.39 56 93
Ideal Index Frank Armstrong 70 30 0 +6.70 10.68 7.58 -40.11 40 62
7Twelve Portfolio Craig Israelsen 50 33.3 16.7 +6.63 9.77 7.04 -37.96 37 73
Desert Portfolio Gyroscopic Investing 30 60 10 +6.60 5.50 2.66 -14.72 26 38
Permanent Portfolio Harry Browne 25 50 25 +6.47 6.59 3.21 -15.92 26 40
Larry Portfolio Larry Swedroe 30 70 0 +5.83 5.55 3.24 -15.96 33 52
Stocks/Bonds 20/80 20 80 0 +5.66 4.92 3.17 -16.57 26 50

The following portfolios share asset allocation strategy and/or similar asset weights.

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Allocation
5 Years Stats (%)
Portfolio Author Stocks Bonds Comm Ann.
Return
Standard
Deviation
Ulcer
Index
Deepest
Drawdown
Longest
Drawdown
Longest
Neg.Period
Avg
Rank
Stocks/Bonds 60/40 2x Leveraged 60 40 0 +11.97 23.45 17.47 -39.53 26 38
Stocks/Bonds 60/40 with Bitcoin 59 39 2 +10.63 13.29 8.06 -21.45 26 32
Stocks/Bonds 60/40 ESG 60 40 0 +9.30 12.65 8.82 -22.44 26 34
Stocks/Bonds 60/40 60 40 0 +8.67 12.59 7.86 -20.69 26 34
Stocks/Bonds 60/40 Momentum 60 40 0 +7.54 12.62 11.53 -24.21 28 40
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