Burton Malkiel Late Thirties to Early Forties Portfolio vs Stocks/Bonds 80/20 Portfolio Portfolio Comparison

Simulation Settings
Period: January 1985 - June 2025 (~41 years)
Consolidated Returns as of 30 June 2025
Initial Amount: 1$
Rebalancing: at every Jan 1st
Currency: USD
Inflation: US
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Results
30 Years
(1995/07 - 2025/06)
All Data
(1985/01 - 2025/06)
Inflation Adjusted:
Burton Malkiel Late Thirties to Early Forties Portfolio
1.00$
Invested Capital
July 1995
12.12$
Final Capital
June 2025
8.67%
Yearly Return
13.58%
Std Deviation
-48.28%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
July 1995
5.76$
Final Capital
June 2025
6.01%
Yearly Return
13.58%
Std Deviation
-49.13%
Max Drawdown
63months
Recovery Period
1.00$
Invested Capital
January 1985
55.08$
Final Capital
June 2025
10.40%
Yearly Return
13.58%
Std Deviation
-48.28%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
January 1985
18.12$
Final Capital
June 2025
7.42%
Yearly Return
13.58%
Std Deviation
-49.13%
Max Drawdown
63months
Recovery Period
Stocks/Bonds 80/20 Portfolio
1.00$
Invested Capital
July 1995
14.82$
Final Capital
June 2025
9.40%
Yearly Return
12.59%
Std Deviation
-41.09%
Max Drawdown
39months
Recovery Period
1.00$
Invested Capital
July 1995
7.04$
Final Capital
June 2025
6.72%
Yearly Return
12.59%
Std Deviation
-42.07%
Max Drawdown
53months
Recovery Period
1.00$
Invested Capital
January 1985
57.01$
Final Capital
June 2025
10.50%
Yearly Return
12.54%
Std Deviation
-41.09%
Max Drawdown
39months
Recovery Period
1.00$
Invested Capital
January 1985
18.76$
Final Capital
June 2025
7.51%
Yearly Return
12.54%
Std Deviation
-42.07%
Max Drawdown
53months
Recovery Period

As of June 2025, in the previous 30 Years, the Burton Malkiel Late Thirties to Early Forties Portfolio obtained a 8.67% compound annual return, with a 13.58% standard deviation. It suffered a maximum drawdown of -48.28% that required 42 months to be recovered.

As of June 2025, in the previous 30 Years, the Stocks/Bonds 80/20 Portfolio obtained a 9.40% compound annual return, with a 12.59% standard deviation. It suffered a maximum drawdown of -41.09% that required 39 months to be recovered.

Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the portfolio creators, who are the sole owners of their intellectual property. The translation of asset allocations into ETFs is based on the interpretation of LazyPortfolioETF.com and may not exactly reflect the original intent of the portfolio creators. Content is for informational, educational, illustrative, and entertainment purposes only.
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Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Weight
(%)
Ticker Name
32.50
VTI
Vanguard Total Stock Market
16.25
EEM
iShares MSCI Emerging Markets
16.25
EFA
iShares MSCI EAFE
10.00
VIG
Vanguard Dividend Appreciation
10.00
VNQ
Vanguard Real Estate
5.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
5.00
EMB
iShares JP Morgan USD Em Mkts Bd
5.00
LQD
iShares Investment Grade Corporate Bond
Weight
(%)
Ticker Name
80.00
VTI
Vanguard Total Stock Market
20.00
BND
Vanguard Total Bond Market
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Portfolio Returns as of Jun 30, 2025

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • rebalancing: at every Jan 1st.
  • dividend reinvestment, when applicable.
Return Comparison
Capital Growth
30 Years
(1995/07 - 2025/06)
All Data
(1985/01 - 2025/06)
Inflation Adjusted:
Swipe left to see all data
Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Burton Malkiel Late Thirties to Early Forties
Burton Malkiel
1 $ 12.12 $ 1 112.17% 8.67%
Stocks/Bonds 80/20
1 $ 14.82 $ 1 381.94% 9.40%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Burton Malkiel Late Thirties to Early Forties
Burton Malkiel
1 $ 5.76 $ 476.10% 6.01%
Stocks/Bonds 80/20
1 $ 7.04 $ 604.31% 6.72%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Burton Malkiel Late Thirties to Early Forties
Burton Malkiel
1 $ 55.08 $ 5 407.64% 10.40%
Stocks/Bonds 80/20
1 $ 57.01 $ 5 600.92% 10.50%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Burton Malkiel Late Thirties to Early Forties
Burton Malkiel
1 $ 18.12 $ 1 712.05% 7.42%
Stocks/Bonds 80/20
1 $ 18.76 $ 1 775.64% 7.51%

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Return (%) as of Jun 30, 2025
YTD
(6M)
1M 6M 1Y 5Y 10Y 30Y MAX
(~41Y)
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_burton_malkiel.webp Late Thirties to Early Forties
Burton Malkiel
9.17 3.91 9.17 14.34 10.48 8.40 8.67 10.40
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_us_author.webp Stocks/Bonds 80/20
-- Market Benchmark
5.26 4.42 5.26 13.42 12.57 10.77 9.40 10.50
Returns over 1 year are annualized.
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Portfolio Metrics as of Jun 30, 2025

The following metrics, updated as of 30 June 2025, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
Period: 1 July 2024 - 30 June 2025 (1 year)
Period: 1 July 2020 - 30 June 2025 (5 years)
Period: 1 July 2015 - 30 June 2025 (10 years)
Period: 1 July 1995 - 30 June 2025 (30 years)
Period: 1 January 1985 - 30 June 2025 (~41 years)
1 Year
5 Years
10 Years
30 Years
All (1985/01 - 2025/06)
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Late Thirties to Early Forties Stocks/Bonds 80/20
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 80%
Fixed Income 15% 20%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 14.34 13.42
Infl. Adjusted (%) 11.63 10.73
DRAWDOWN
Deepest Drawdown Depth (%) -3.23 -6.49
Start to Recovery (months) 3 7
Longest Drawdown Depth (%) -3.23 -6.49
Start to Recovery (months) 3 7
Longest Negative Period (months) 7 8
RISK INDICATORS
Standard Deviation (%) 8.51 10.52
Sharpe Ratio 1.14 0.83
Sortino Ratio 1.44 1.13
Ulcer Index 1.45 2.69
Ratio: Return / Standard Deviation 1.69 1.28
Ratio: Return / Deepest Drawdown 4.44 2.07
Metrics calculated over the period 1 July 2024 - 30 June 2025
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Late Thirties to Early Forties Stocks/Bonds 80/20
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 80%
Fixed Income 15% 20%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.48 12.57
Infl. Adjusted (%) 5.70 7.70
DRAWDOWN
Deepest Drawdown Depth (%) -24.26 -22.75
Start to Recovery (months) 27 25
Longest Drawdown Depth (%) -24.26 -22.75
Start to Recovery (months) 27 25
Longest Negative Period (months) 34 30
RISK INDICATORS
Standard Deviation (%) 13.55 14.01
Sharpe Ratio 0.58 0.71
Sortino Ratio 0.79 0.95
Ulcer Index 8.48 8.14
Ratio: Return / Standard Deviation 0.77 0.90
Ratio: Return / Deepest Drawdown 0.43 0.55
Metrics calculated over the period 1 July 2020 - 30 June 2025
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Late Thirties to Early Forties Stocks/Bonds 80/20
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 80%
Fixed Income 15% 20%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.40 10.77
Infl. Adjusted (%) 5.20 7.50
DRAWDOWN
Deepest Drawdown Depth (%) -24.26 -22.75
Start to Recovery (months) 27 25
Longest Drawdown Depth (%) -24.26 -22.75
Start to Recovery (months) 27 25
Longest Negative Period (months) 34 30
RISK INDICATORS
Standard Deviation (%) 13.00 13.13
Sharpe Ratio 0.51 0.68
Sortino Ratio 0.67 0.90
Ulcer Index 6.89 6.37
Ratio: Return / Standard Deviation 0.65 0.82
Ratio: Return / Deepest Drawdown 0.35 0.47
Metrics calculated over the period 1 July 2015 - 30 June 2025
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Late Thirties to Early Forties Stocks/Bonds 80/20
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 80%
Fixed Income 15% 20%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.67 9.40
Infl. Adjusted (%) 6.01 6.72
DRAWDOWN
Deepest Drawdown Depth (%) -48.28 -41.09
Start to Recovery (months) 42 39
Longest Drawdown Depth (%) -48.28 -33.33
Start to Recovery (months) 42 59
Longest Negative Period (months) 63 122
RISK INDICATORS
Standard Deviation (%) 13.58 12.59
Sharpe Ratio 0.47 0.57
Sortino Ratio 0.61 0.74
Ulcer Index 9.81 10.40
Ratio: Return / Standard Deviation 0.64 0.75
Ratio: Return / Deepest Drawdown 0.18 0.23
Metrics calculated over the period 1 July 1995 - 30 June 2025
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Late Thirties to Early Forties Stocks/Bonds 80/20
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 80%
Fixed Income 15% 20%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.40 10.50
Infl. Adjusted (%) 7.42 7.51
DRAWDOWN
Deepest Drawdown Depth (%) -48.28 -41.09
Start to Recovery (months) 42 39
Longest Drawdown Depth (%) -48.28 -33.33
Start to Recovery (months) 42 59
Longest Negative Period (months) 63 122
RISK INDICATORS
Standard Deviation (%) 13.58 12.54
Sharpe Ratio 0.53 0.58
Sortino Ratio 0.69 0.76
Ulcer Index 8.94 9.40
Ratio: Return / Standard Deviation 0.77 0.84
Ratio: Return / Deepest Drawdown 0.22 0.26
Metrics calculated over the period 1 January 1985 - 30 June 2025
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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.

DRAWDOWN COMPARISON
Period: 1 July 1995 - 30 June 2025 (30 years)
Period: 1 January 1985 - 30 June 2025 (~41 years)
30 Years
(1995/07 - 2025/06)

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Late Thirties to Early Forties Stocks/Bonds 80/20
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-48.28 42 Nov 2007
Apr 2011
-41.09 39 Nov 2007
Jan 2011
-33.33 59 Sep 2000
Jul 2005
-24.26 27 Jan 2022
Mar 2024
-22.75 25 Jan 2022
Jan 2024
-21.55 38 Sep 2000
Oct 2003
-19.36 8 Jan 2020
Aug 2020
-18.70 11 May 1998
Mar 1999
-17.20 17 May 2011
Sep 2012
-16.53 6 Feb 2020
Jul 2020
-13.95 5 Jul 1998
Nov 1998
-13.35 10 May 2011
Feb 2012
-11.32 7 Oct 2018
Apr 2019
-11.04 15 Feb 2018
Apr 2019
-10.51 15 May 2015
Jul 2016

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Late Thirties to Early Forties Stocks/Bonds 80/20
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-48.28 42 Nov 2007
Apr 2011
-41.09 39 Nov 2007
Jan 2011
-33.33 59 Sep 2000
Jul 2005
-24.55 20 Sep 1987
Apr 1989
-24.26 27 Jan 2022
Mar 2024
-22.99 17 Sep 1987
Jan 1989
-22.75 25 Jan 2022
Jan 2024
-21.55 38 Sep 2000
Oct 2003
-19.36 8 Jan 2020
Aug 2020
-18.70 11 May 1998
Mar 1999
-17.29 7 Aug 1990
Feb 1991
-17.20 17 May 2011
Sep 2012
-16.53 6 Feb 2020
Jul 2020
-13.95 5 Jul 1998
Nov 1998
-13.35 10 May 2011
Feb 2012

Rolling Returns

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the Simulation Settings.

You can explore the Rolling Returns for a single portfolio, or check the return differential, by switching on "Head To Head" toggle.

Rolling Returns Comparison
Annualized Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1985 - 30 June 2025 (~41 years)


Head To Head (Ptf 1 vs Ptf 2):
US Inflation Adjusted:

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Yearly Returns

For each year, the following table provides the return and intra-year drawdown. The highlighted returns represent the highest values for that specific year.

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Late Thirties to Early Forties Stocks/Bonds 80/20
Year Return
(%)
Drawdown
(%)
Return
(%)
Drawdown
(%)
2025
9.17 -2.38 5.26 -6.18
2024
12.12 -3.45 19.32 -3.99
2023
16.77 -9.38 21.92 -8.32
2022
-17.38 -24.26 -18.23 -22.75
2021
15.84 -3.97 20.16 -3.88
2020
12.75 -19.36 18.36 -16.53
2019
24.10 -4.51 26.30 -4.97
2018
-7.61 -11.04 -4.19 -11.32
2017
20.64 0.00 17.68 0.00
2016
8.99 -4.56 10.77 -4.34
2015
-2.65 -9.75 0.40 -7.05
2014
7.18 -3.52 11.20 -2.23
2013
16.37 -3.65 26.34 -2.66
2012
15.81 -7.03 13.79 -5.21
2011
-2.39 -17.20 2.36 -13.35
2010
14.99 -10.22 15.18 -10.23
2009
31.14 -18.01 23.84 -14.71
2008
-32.91 -37.15 -28.21 -30.13
2007
8.39 -5.98 5.68 -4.17
2006
21.40 -3.91 13.41 -2.63
2005
11.93 -3.56 5.53 -3.41
2004
16.16 -6.18 11.08 -2.95
2003
34.34 -2.28 25.40 -3.13
2002
-10.16 -17.47 -14.73 -20.47
2001
-1.34 -16.37 -7.09 -17.69
2000
-4.91 -10.02 -6.18 -12.05
1999
22.20 -3.75 18.90 -5.12
1998
8.06 -18.70 20.33 -13.95
1997
13.64 -6.08 26.68 -3.85
1996
17.87 -3.78 17.49 -4.78
1995
19.80 -1.74 32.26 -0.70
1994
-3.04 -8.61 -0.67 -6.95
1993
29.60 -3.39 10.44 -2.06
1992
2.17 -4.15 8.71 -2.02
1991
39.50 -4.68 28.96 -3.69
1990
-7.56 -17.29 -3.13 -12.23
1989
32.71 -2.71 25.22 -2.00
1988
20.02 -3.27 15.32 -2.84
1987
-1.75 -22.99 2.40 -24.55
1986
22.02 -5.35 14.68 -6.76
1985
31.42 -2.87 29.47 -3.45
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