Mebane Faber GAA Global Asset Allocation Portfolio vs Roger Gibson Talmud Portfolio Portfolio Comparison

Simulation Settings

Period: January 1985 - February 2026 (~41 years)
Consolidated Returns as of 28 February 2026

Initial Amount: 1$

Rebalancing: at every Jan 1^st

Currency: USD

Inflation: US

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Results

30 Years
(1996/03 - 2026/02)

All Data
(1985/01 - 2026/02)

Inflation Adjusted:

Mebane Faber GAA Global Asset Allocation Portfolio

1.00$
Invested Capital
March 1996
8.04$
Final Capital
February 2026
7.19%
Yearly Return
8.09%
Std Deviation
-24.91%
Max Drawdown
22months
Recovery Period

1.00$
Invested Capital
March 1996
3.80$
Final Capital
February 2026
4.55%
Yearly Return
8.09%
Std Deviation
-26.11%
Max Drawdown
33months
Recovery Period

1.00$
Invested Capital
January 1985
33.59$
Final Capital
February 2026
8.91%
Yearly Return
8.07%
Std Deviation
-24.91%
Max Drawdown
22months
Recovery Period

1.00$
Invested Capital
January 1985
10.82$
Final Capital
February 2026
5.95%
Yearly Return
8.07%
Std Deviation
-26.11%
Max Drawdown
33months
Recovery Period

Roger Gibson Talmud Portfolio

1.00$
Invested Capital
March 1996
11.07$
Final Capital
February 2026
8.35%
Yearly Return
10.92%
Std Deviation
-40.17%
Max Drawdown
41months
Recovery Period

1.00$
Invested Capital
March 1996
5.24$
Final Capital
February 2026
5.68%
Yearly Return
10.92%
Std Deviation
-42.21%
Max Drawdown
49months
Recovery Period

1.00$
Invested Capital
January 1985
38.58$
Final Capital
February 2026
9.28%
Yearly Return
10.41%
Std Deviation
-40.17%
Max Drawdown
41months
Recovery Period

1.00$
Invested Capital
January 1985
12.43$
Final Capital
February 2026
6.31%
Yearly Return
10.41%
Std Deviation
-42.21%
Max Drawdown
49months
Recovery Period

As of February 2026, in the previous 30 Years, the Mebane Faber GAA Global Asset Allocation Portfolio obtained a 7.19% compound annual return, with a 8.09% standard deviation. It suffered a maximum drawdown of -24.91% that required 22 months to be recovered.

As of February 2026, in the previous 30 Years, the Roger Gibson Talmud Portfolio obtained a 8.35% compound annual return, with a 10.92% standard deviation. It suffered a maximum drawdown of -40.17% that required 41 months to be recovered.

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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.

Resources & Extras

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Mebane Faber GAA Global Asset Allocation Portfolio

Weight (%)	Ticker	Name
18.00	VV	Vanguard Large-Cap
13.50	VEA	Vanguard FTSE Developed Markets
4.50	EEM	iShares MSCI Emerging Markets
4.50	VNQ	Vanguard Real Estate
19.80	LQD	iShares Investment Grade Corporate Bond
14.40	BNDX	Vanguard Total International Bond
13.50	TLT	iShares 20+ Year Treasury Bond
1.80	TIP	iShares TIPS Bond
5.00	GLD	SPDR Gold Trust
5.00	GSG	iShares S&P GSCI Commodity Indexed Trust

Roger Gibson Talmud Portfolio

Weight (%)	Ticker	Name
33.34	VTI	Vanguard Total Stock Market
33.33	VNQ	Vanguard Real Estate
33.33	BND	Vanguard Total Bond Market

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Portfolio Returns as of Feb 28, 2026

Returns are calculated in USD, assuming:

no fees or capital gain taxes.
rebalancing: at every Jan 1^st.
dividend reinvestment, when applicable.

Return Comparison

Capital Growth

30 Years
(1996/03 - 2026/02)

All Data
(1985/01 - 2026/02)

Inflation Adjusted:

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
GAA Global Asset Allocation Mebane Faber	1 $	8.04 $	703.65%	7.19%
Talmud Portfolio Roger Gibson	1 $	11.07 $	1 007.47%	8.35%
	Mar 1996	Feb 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
GAA Global Asset Allocation Mebane Faber	1 $	3.80 $	280.30%	4.55%
Talmud Portfolio Roger Gibson	1 $	5.24 $	424.08%	5.68%
	Mar 1996	Feb 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
GAA Global Asset Allocation Mebane Faber	1 $	33.59 $	3 258.67%	8.91%
Talmud Portfolio Roger Gibson	1 $	38.58 $	3 757.91%	9.28%
	Jan 1985	Feb 2026

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	Initial Amount $	Final Amount $	Total Return (%)	Annualized (%)
GAA Global Asset Allocation Mebane Faber	1 $	10.82 $	981.81%	5.95%
Talmud Portfolio Roger Gibson	1 $	12.43 $	1 142.61%	6.31%
	Jan 1985	Feb 2026

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		Return (%) as of Feb 28, 2026
		YTD (2M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~41Y)
	GAA Global Asset Allocation Mebane Faber	5.74	2.88	11.33	18.03	6.17	7.30	7.19	8.91
	Talmud Portfolio Roger Gibson	3.67	2.17	5.70	9.76	6.54	8.00	8.35	9.28
Returns over 1 year are annualized.

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Portfolio Metrics as of Feb 28, 2026

The following metrics, updated as of 28 February 2026, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON

Period: 1 March 2025 - 28 February 2026 (1 year)

Period: 1 March 2021 - 28 February 2026 (5 years)

Period: 1 March 2016 - 28 February 2026 (10 years)

Period: 1 March 1996 - 28 February 2026 (30 years)

Period: 1 January 1985 - 28 February 2026 (~41 years)

1 Year

5 Years

10 Years

30 Years

All (1985/01 - 2026/02)

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	GAA Global Asset Allocation	Talmud Portfolio
Author	Mebane Faber	Roger Gibson
ASSET ALLOCATION
Stocks	40.5%	66.67%
Fixed Income	49.5%	33.33%
Commodities	10%	0%
PERFORMANCES
Annualized Return (%)	18.03	9.76
Infl. Adjusted (%)	15.26	7.18
DRAWDOWN
Deepest Drawdown Depth (%)	-0.87	-3.70
Start to Recovery (months)	3	4
Longest Drawdown Depth (%)	-0.87	-3.70
Start to Recovery (months)	3	4
Longest Negative Period (months)	2	3
RISK INDICATORS
Standard Deviation (%)	4.39	5.35
Sharpe Ratio	3.19	1.07
Sortino Ratio	4.37	1.32
Ulcer Index	0.30	1.38
Ratio: Return / Standard Deviation	4.11	1.82
Ratio: Return / Deepest Drawdown	20.65	2.64
Metrics calculated over the period 1 March 2025 - 28 February 2026

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	GAA Global Asset Allocation	Talmud Portfolio
Author	Mebane Faber	Roger Gibson
ASSET ALLOCATION
Stocks	40.5%	66.67%
Fixed Income	49.5%	33.33%
Commodities	10%	0%
PERFORMANCES
Annualized Return (%)	6.17	6.54
Infl. Adjusted (%)	1.66	2.01
DRAWDOWN
Deepest Drawdown Depth (%)	-20.65	-22.88
Start to Recovery (months)	32	32
Longest Drawdown Depth (%)	-20.65	-22.88
Start to Recovery (months)	32	32
Longest Negative Period (months)	36	35
RISK INDICATORS
Standard Deviation (%)	10.01	12.43
Sharpe Ratio	0.30	0.27
Sortino Ratio	0.39	0.36
Ulcer Index	8.04	9.89
Ratio: Return / Standard Deviation	0.62	0.53
Ratio: Return / Deepest Drawdown	0.30	0.29
Metrics calculated over the period 1 March 2021 - 28 February 2026

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	GAA Global Asset Allocation	Talmud Portfolio
Author	Mebane Faber	Roger Gibson
ASSET ALLOCATION
Stocks	40.5%	66.67%
Fixed Income	49.5%	33.33%
Commodities	10%	0%
PERFORMANCES
Annualized Return (%)	7.30	8.00
Infl. Adjusted (%)	3.90	4.58
DRAWDOWN
Deepest Drawdown Depth (%)	-20.65	-22.88
Start to Recovery (months)	32	32
Longest Drawdown Depth (%)	-20.65	-22.88
Start to Recovery (months)	32	32
Longest Negative Period (months)	39	35
RISK INDICATORS
Standard Deviation (%)	8.84	11.38
Sharpe Ratio	0.59	0.52
Sortino Ratio	0.78	0.68
Ulcer Index	5.93	7.36
Ratio: Return / Standard Deviation	0.83	0.70
Ratio: Return / Deepest Drawdown	0.35	0.35
Metrics calculated over the period 1 March 2016 - 28 February 2026

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	GAA Global Asset Allocation	Talmud Portfolio
Author	Mebane Faber	Roger Gibson
ASSET ALLOCATION
Stocks	40.5%	66.67%
Fixed Income	49.5%	33.33%
Commodities	10%	0%
PERFORMANCES
Annualized Return (%)	7.19	8.35
Infl. Adjusted (%)	4.55	5.68
DRAWDOWN
Deepest Drawdown Depth (%)	-24.91	-40.17
Start to Recovery (months)	22	41
Longest Drawdown Depth (%)	-20.65	-40.17
Start to Recovery (months)	32	41
Longest Negative Period (months)	45	65
RISK INDICATORS
Standard Deviation (%)	8.09	10.92
Sharpe Ratio	0.61	0.56
Sortino Ratio	0.81	0.72
Ulcer Index	4.92	7.45
Ratio: Return / Standard Deviation	0.89	0.76
Ratio: Return / Deepest Drawdown	0.29	0.21
Metrics calculated over the period 1 March 1996 - 28 February 2026

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	GAA Global Asset Allocation	Talmud Portfolio
Author	Mebane Faber	Roger Gibson
ASSET ALLOCATION
Stocks	40.5%	66.67%
Fixed Income	49.5%	33.33%
Commodities	10%	0%
PERFORMANCES
Annualized Return (%)	8.91	9.28
Infl. Adjusted (%)	5.95	6.31
DRAWDOWN
Deepest Drawdown Depth (%)	-24.91	-40.17
Start to Recovery (months)	22	41
Longest Drawdown Depth (%)	-20.65	-40.17
Start to Recovery (months)	32	41
Longest Negative Period (months)	45	65
RISK INDICATORS
Standard Deviation (%)	8.07	10.41
Sharpe Ratio	0.71	0.59
Sortino Ratio	0.95	0.76
Ulcer Index	4.40	6.62
Ratio: Return / Standard Deviation	1.10	0.89
Ratio: Return / Deepest Drawdown	0.36	0.23
Metrics calculated over the period 1 January 1985 - 28 February 2026

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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 March 1996 - 28 February 2026 (30 years)

Period: 1 January 1985 - 28 February 2026 (~41 years)

30 Years
(1996/03 - 2026/02)

Chart Table

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GAA Global Asset Allocation			Talmud Portfolio
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
			-40.17	41	Jun 2007 Oct 2010
-24.91	22	Jun 2008 Mar 2010
			-22.88	32	Jan 2022 Aug 2024
-20.65	32	Jan 2022 Aug 2024
			-15.16	7	Feb 2020 Aug 2020
			-10.50	8	Jun 2011 Jan 2012
			-10.43	6	Jul 1998 Dec 1998
-9.35	6	Feb 2020 Jul 2020
			-8.26	14	Apr 2002 May 2003
			-7.57	6	Sep 2018 Feb 2019
-6.74	16	Mar 2015 Jun 2016
			-6.69	5	Apr 2004 Aug 2004
-6.46	14	Feb 2018 Mar 2019
-6.25	6	May 1998 Oct 1998
-5.98	27	Feb 2001 Apr 2003

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GAA Global Asset Allocation			Talmud Portfolio
Drawdown (%)	Recovery (#Months)	From To	Drawdown (%)	Recovery (#Months)	From To
			-40.17	41	Jun 2007 Oct 2010
-24.91	22	Jun 2008 Mar 2010
			-22.88	32	Jan 2022 Aug 2024
-20.65	32	Jan 2022 Aug 2024
			-15.52	17	Sep 1987 Jan 1989
			-15.16	7	Feb 2020 Aug 2020
			-10.50	8	Jun 2011 Jan 2012
			-10.43	6	Jul 1998 Dec 1998
			-10.14	7	Jul 1990 Jan 1991
-9.35	6	Feb 2020 Jul 2020
-9.34	10	Sep 1987 Jun 1988
			-8.70	20	Oct 1993 May 1995
			-8.26	14	Apr 2002 May 2003
			-7.57	6	Sep 2018 Feb 2019
-7.50	7	Jan 1990 Jul 1990

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 - 28 February 2026 (~41 years)

Rolling Period:

GAA Global Asset Allocation
Talmud Portfolio

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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	GAA Global Asset Allocation		Talmud Portfolio
Year	Return (%)	Drawdown (%)	Return (%)	Drawdown (%)
2026	5.74	0.00	3.67	0.00
2025	15.83	-0.87	9.14	-3.70
2024	6.86	-3.12	10.00	-4.87
2023	12.13	-7.93	14.42	-9.16
2022	-16.44	-20.65	-19.62	-22.88
2021	8.69	-2.47	21.44	-3.93
2020	11.18	-9.35	8.02	-15.16
2019	19.10	-1.28	22.79	-1.65
2018	-5.13	-6.46	-3.78	-7.57
2017	13.30	0.00	9.90	-0.80
2016	6.40	-4.46	7.99	-4.84
2015	-3.07	-6.44	1.11	-5.69
2014	7.67	-2.74	16.24	-3.05
2013	4.79	-5.48	11.22	-4.74
2012	11.31	-3.02	12.41	-3.41
2011	6.44	-4.21	5.83	-10.50
2010	12.24	-3.58	17.33	-7.24
2009	15.95	-12.21	20.87	-18.28
2008	-13.28	-21.38	-22.37	-28.90
2007	9.54	-1.32	-1.40	-7.11
2006	11.66	-1.77	18.42	-3.01
2005	8.99	-2.35	6.88	-3.47
2004	11.55	-4.36	15.93	-6.69
2003	19.76	-1.64	23.46	-1.81
2002	3.07	-3.96	-2.82	-8.26
2001	-2.12	-5.98	3.27	-5.08
2000	5.03	-2.40	9.05	-4.13
1999	12.08	-2.46	6.34	-4.64
1998	10.04	-6.25	5.18	-10.43
1997	7.28	-3.30	19.74	-1.89
1996	9.53	-1.45	19.46	-1.65
1995	20.68	-0.02	22.03	-0.94
1994	-2.55	-6.39	-3.74	-8.67
1993	18.89	-2.72	13.33	-2.90
1992	3.70	-3.77	10.28	-1.73
1991	22.21	-2.63	27.78	-2.56
1990	-0.08	-7.50	-4.26	-10.14
1989	21.05	-0.43	16.87	-1.33
1988	13.71	-2.08	12.71	-1.50
1987	5.70	-9.34	0.17	-15.52
1986	24.35	-3.30	16.28	-3.57
1985	29.87	-1.43	24.20	-2.28

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Table of contents

Resources & Extras

Asset Allocations and ETFs

Portfolio Returns as of Feb 28, 2026

Portfolio Metrics as of Feb 28, 2026

Drawdowns

Rolling Returns

Yearly Returns