Burton Malkiel Late Thirties to Early Forties Portfolio vs Technology 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
Technology Portfolio
1.00$
Invested Capital
July 1995
49.14$
Final Capital
June 2025
13.86%
Yearly Return
24.00%
Std Deviation
-81.08%
Max Drawdown
175months
Recovery Period
1.00$
Invested Capital
July 1995
23.36$
Final Capital
June 2025
11.07%
Yearly Return
24.00%
Std Deviation
-82.10%
Max Drawdown
206months
Recovery Period
1.00$
Invested Capital
January 1985
271.03$
Final Capital
June 2025
14.84%
Yearly Return
23.37%
Std Deviation
-81.08%
Max Drawdown
175months
Recovery Period
1.00$
Invested Capital
January 1985
89.17$
Final Capital
June 2025
11.73%
Yearly Return
23.37%
Std Deviation
-82.10%
Max Drawdown
206months
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 Technology Portfolio obtained a 13.86% compound annual return, with a 24.00% standard deviation. It suffered a maximum drawdown of -81.08% that required 175 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.

Burton Malkiel Late Thirties to Early Forties Portfolio
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
Technology Portfolio
Weight
(%)		 Ticker Name
100.00
QQQ
Invesco QQQ Trust
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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:
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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Burton Malkiel Late Thirties to Early Forties
Burton Malkiel 		1 $ 12.12 $ 1 112.17% 8.67%
Technology
 1 $ 49.14 $ 4 814.41% 13.86%
Jul 1995 Jun 2025

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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%
Technology
 1 $ 23.36 $ 2 235.65% 11.07%
Jul 1995 Jun 2025

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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%
Technology
 1 $ 271.03 $ 27 003.45% 14.84%
Jan 1985 Jun 2025

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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%
Technology
 1 $ 89.17 $ 8 817.20% 11.73%
Jan 1985 Jun 2025

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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 Technology
-- Market Benchmark 		8.19 6.39 8.19 15.79 18.07 18.71 13.86 14.84
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 Technology
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 100%
Fixed Income 15% 0%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 14.34 15.79
Infl. Adjusted (%) 11.63 13.04
DRAWDOWN
Deepest Drawdown Depth (%) -3.23 -10.08
Start to Recovery (months) 3 5
Longest Drawdown Depth (%) -3.23 -10.08
Start to Recovery (months) 3 5
Longest Negative Period (months) 7 10
RISK INDICATORS
Standard Deviation (%) 8.51 14.70
Sharpe Ratio 1.14 0.76
Sortino Ratio 1.44 1.06
Ulcer Index 1.45 3.83
Ratio: Return / Standard Deviation 1.69 1.07
Ratio: Return / Deepest Drawdown 4.44 1.57
Metrics calculated over the period 1 July 2024 - 30 June 2025
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Late Thirties to Early Forties Technology
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 100%
Fixed Income 15% 0%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.48 18.07
Infl. Adjusted (%) 5.70 12.96
DRAWDOWN
Deepest Drawdown Depth (%) -24.26 -32.58
Start to Recovery (months) 27 24
Longest Drawdown Depth (%) -24.26 -32.58
Start to Recovery (months) 27 24
Longest Negative Period (months) 34 28
RISK INDICATORS
Standard Deviation (%) 13.55 20.50
Sharpe Ratio 0.58 0.75
Sortino Ratio 0.79 1.01
Ulcer Index 8.48 12.52
Ratio: Return / Standard Deviation 0.77 0.88
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 Technology
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 100%
Fixed Income 15% 0%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.40 18.71
Infl. Adjusted (%) 5.20 15.21
DRAWDOWN
Deepest Drawdown Depth (%) -24.26 -32.58
Start to Recovery (months) 27 24
Longest Drawdown Depth (%) -24.26 -32.58
Start to Recovery (months) 27 24
Longest Negative Period (months) 34 28
RISK INDICATORS
Standard Deviation (%) 13.00 18.75
Sharpe Ratio 0.51 0.90
Sortino Ratio 0.67 1.22
Ulcer Index 6.89 9.48
Ratio: Return / Standard Deviation 0.65 1.00
Ratio: Return / Deepest Drawdown 0.35 0.57
Metrics calculated over the period 1 July 2015 - 30 June 2025
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Late Thirties to Early Forties Technology
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 100%
Fixed Income 15% 0%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 8.67 13.86
Infl. Adjusted (%) 6.01 11.07
DRAWDOWN
Deepest Drawdown Depth (%) -48.28 -81.08
Start to Recovery (months) 42 175
Longest Drawdown Depth (%) -48.28 -81.08
Start to Recovery (months) 42 175
Longest Negative Period (months) 63 174
RISK INDICATORS
Standard Deviation (%) 13.58 24.00
Sharpe Ratio 0.47 0.48
Sortino Ratio 0.61 0.66
Ulcer Index 9.81 39.57
Ratio: Return / Standard Deviation 0.64 0.58
Ratio: Return / Deepest Drawdown 0.18 0.17
Metrics calculated over the period 1 July 1995 - 30 June 2025
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Late Thirties to Early Forties Technology
Author Burton Malkiel
ASSET ALLOCATION
Stocks 85% 100%
Fixed Income 15% 0%
Commodities 0% 0%
PERFORMANCES
Annualized Return (%) 10.40 14.84
Infl. Adjusted (%) 7.42 11.73
DRAWDOWN
Deepest Drawdown Depth (%) -48.28 -81.08
Start to Recovery (months) 42 175
Longest Drawdown Depth (%) -48.28 -81.08
Start to Recovery (months) 42 175
Longest Negative Period (months) 63 174
RISK INDICATORS
Standard Deviation (%) 13.58 23.37
Sharpe Ratio 0.53 0.50
Sortino Ratio 0.69 0.68
Ulcer Index 8.94 34.42
Ratio: Return / Standard Deviation 0.77 0.63
Ratio: Return / Deepest Drawdown 0.22 0.18
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 Technology
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-81.08 175 Apr 2000
Oct 2014
-48.28 42 Nov 2007
Apr 2011
-32.58 24 Jan 2022
Dec 2023
-24.26 27 Jan 2022
Mar 2024
-21.55 38 Sep 2000
Oct 2003
-19.36 8 Jan 2020
Aug 2020
-18.70 11 May 1998
Mar 1999
-17.20 3 Aug 1998
Oct 1998
-17.20 17 May 2011
Sep 2012
-16.96 8 Sep 2018
Apr 2019
-13.51 4 Feb 1997
May 1997
-12.90 3 Feb 2020
Apr 2020
-11.04 15 Feb 2018
Apr 2019
-10.51 15 May 2015
Jul 2016
-10.50 7 Aug 1997
Feb 1998

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Late Thirties to Early Forties Technology
Drawdown
(%) 		Recovery
(#Months)		 From
To		 Drawdown
(%) 		Recovery
(#Months)		 From
To
-81.08 175 Apr 2000
Oct 2014
-48.28 42 Nov 2007
Apr 2011
-34.57 21 Sep 1987
May 1989
-32.58 24 Jan 2022
Dec 2023
-27.64 8 Jul 1990
Feb 1991
-24.26 27 Jan 2022
Mar 2024
-22.99 17 Sep 1987
Jan 1989
-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 3 Aug 1998
Oct 1998
-17.20 17 May 2011
Sep 2012
-16.96 8 Sep 2018
Apr 2019
-15.73 8 Jun 1986
Jan 1987

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 Technology
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2025
 9.17 -2.38 8.19 -10.08
2024
 12.12 -3.45 25.58 -4.37
2023
 16.77 -9.38 54.86 -8.42
2022
 -17.38 -24.26 -32.58 -32.58
2021
 15.84 -3.97 27.42 -5.68
2020
 12.75 -19.36 48.40 -12.90
2019
 24.10 -4.51 38.96 -8.23
2018
 -7.61 -11.04 -0.12 -16.96
2017
 20.64 0.00 32.66 -2.32
2016
 8.99 -4.56 7.10 -8.37
2015
 -2.65 -9.75 9.45 -8.88
2014
 7.18 -3.52 19.18 -3.04
2013
 16.37 -3.65 36.63 -2.39
2012
 15.81 -7.03 18.12 -8.13
2011
 -2.39 -17.20 3.47 -10.79
2010
 14.99 -10.22 20.14 -12.93
2009
 31.14 -18.01 54.68 -7.43
2008
 -32.91 -37.15 -41.73 -43.03
2007
 8.39 -5.98 19.02 -6.83
2006
 21.40 -3.91 7.14 -11.54
2005
 11.93 -3.56 1.57 -12.37
2004
 16.16 -6.18 10.54 -9.86
2003
 34.34 -2.28 49.67 -2.90
2002
 -10.16 -17.47 -37.37 -46.75
2001
 -1.34 -16.37 -33.34 -54.93
2000
 -4.91 -10.02 -36.11 -46.69
1999
 22.20 -3.75 101.95 -9.49
1998
 8.06 -18.70 85.30 -17.20
1997
 13.64 -6.08 20.63 -13.51
1996
 17.87 -3.78 42.54 -8.14
1995
 19.80 -1.74 42.54 -3.77
1994
 -3.04 -8.61 1.50 -12.97
1993
 29.60 -3.39 10.58 -8.26
1992
 2.17 -4.15 8.86 -13.48
1991
 39.50 -4.68 64.99 -8.89
1990
 -7.56 -17.29 -10.41 -27.64
1989
 32.71 -2.71 26.17 -4.64
1988
 20.02 -3.27 13.54 -10.50
1987
 -1.75 -22.99 10.50 -34.57
1986
 22.02 -5.35 6.89 -15.73
1985
 31.42 -2.87 35.61 -6.97
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