Ray Dalio All Weather Portfolio vs Stocks/Bonds 40/60 Momentum Portfolio Portfolio Comparison

Simulation Settings
Period: January 1982 - June 2025 (~44 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
(1982/01 - 2025/06)
Inflation Adjusted:
Ray Dalio All Weather Portfolio
1.00$
Invested Capital
July 1995
8.45$
Final Capital
June 2025
7.37%
Yearly Return
7.45%
Std Deviation
-20.58%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
July 1995
4.01$
Final Capital
June 2025
4.74%
Yearly Return
7.45%
Std Deviation
-27.85%
Max Drawdown
46months*
Recovery Period
* in progress
1.00$
Invested Capital
January 1982
44.70$
Final Capital
June 2025
9.13%
Yearly Return
7.67%
Std Deviation
-20.58%
Max Drawdown
42months
Recovery Period
1.00$
Invested Capital
January 1982
13.12$
Final Capital
June 2025
6.10%
Yearly Return
7.67%
Std Deviation
-27.85%
Max Drawdown
46months*
Recovery Period
* in progress
Stocks/Bonds 40/60 Momentum Portfolio
1.00$
Invested Capital
July 1995
10.61$
Final Capital
June 2025
8.19%
Yearly Return
7.10%
Std Deviation
-21.11%
Max Drawdown
35months
Recovery Period
1.00$
Invested Capital
July 1995
5.04$
Final Capital
June 2025
5.54%
Yearly Return
7.10%
Std Deviation
-27.85%
Max Drawdown
44months*
Recovery Period
* in progress
1.00$
Invested Capital
January 1982
59.36$
Final Capital
June 2025
9.84%
Yearly Return
7.47%
Std Deviation
-21.11%
Max Drawdown
35months
Recovery Period
1.00$
Invested Capital
January 1982
17.42$
Final Capital
June 2025
6.79%
Yearly Return
7.47%
Std Deviation
-27.85%
Max Drawdown
44months*
Recovery Period
* in progress

As of June 2025, in the previous 30 Years, the Ray Dalio All Weather Portfolio obtained a 7.37% compound annual return, with a 7.45% standard deviation. It suffered a maximum drawdown of -20.58% that required 42 months to be recovered.

As of June 2025, in the previous 30 Years, the Stocks/Bonds 40/60 Momentum Portfolio obtained a 8.19% compound annual return, with a 7.10% standard deviation. It suffered a maximum drawdown of -21.11% that required 35 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
30.00
VTI
Vanguard Total Stock Market
40.00
TLT
iShares 20+ Year Treasury Bond
15.00
IEI
iShares 3-7 Year Treasury Bond
7.50
DBC
Invesco DB Commodity Tracking
7.50
GLD
SPDR Gold Trust
Weight
(%)
Ticker Name
40.00
MTUM
iShares Edge MSCI USA Momentum Fctr
60.00
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
(1982/01 - 2025/06)
Inflation Adjusted:
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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Ray Dalio All Weather Portfolio
Ray Dalio
1 $ 8.45 $ 744.53% 7.37%
Stocks/Bonds 40/60 Momentum
1 $ 10.61 $ 961.46% 8.19%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Ray Dalio All Weather Portfolio
Ray Dalio
1 $ 4.01 $ 301.37% 4.74%
Stocks/Bonds 40/60 Momentum
1 $ 5.04 $ 404.48% 5.54%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Ray Dalio All Weather Portfolio
Ray Dalio
1 $ 44.70 $ 4 370.10% 9.13%
Stocks/Bonds 40/60 Momentum
1 $ 59.36 $ 5 835.64% 9.84%

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Initial Amount $ Final Amount $ Total Return (%) Annualized (%)
Ray Dalio All Weather Portfolio
Ray Dalio
1 $ 13.12 $ 1 211.77% 6.10%
Stocks/Bonds 40/60 Momentum
1 $ 17.42 $ 1 641.84% 6.79%

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Return (%) as of Jun 30, 2025
YTD
(6M)
1M 6M 1Y 5Y 10Y 30Y MAX
(~44Y)
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_ray_dalio.webp All Weather Portfolio
Ray Dalio
5.58 3.08 5.58 8.88 3.14 5.41 7.37 9.13
http://www.lazyportfolioetf.com/wp-content/themes/dynamico-child/img/author/avatar_us_author.webp Stocks/Bonds 40/60 Momentum
-- Market Benchmark
9.10 2.57 9.10 13.64 5.29 6.91 8.19 9.84
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 1982 - 30 June 2025 (~44 years)
1 Year
5 Years
10 Years
30 Years
All (1982/01 - 2025/06)
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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Author Ray Dalio
ASSET ALLOCATION
Stocks 30% 40%
Fixed Income 55% 60%
Commodities 15% 0%
PERFORMANCES
Annualized Return (%) 8.88 13.64
Infl. Adjusted (%) 6.30 10.94
DRAWDOWN
Deepest Drawdown Depth (%) -3.45 -2.93
Start to Recovery (months) 3 3
Longest Drawdown Depth (%) -1.94 -2.82
Start to Recovery (months) 4 3
Longest Negative Period (months) 8 5
RISK INDICATORS
Standard Deviation (%) 7.03 7.75
Sharpe Ratio 0.60 1.16
Sortino Ratio 0.76 1.45
Ulcer Index 1.43 1.25
Ratio: Return / Standard Deviation 1.26 1.76
Ratio: Return / Deepest Drawdown 2.57 4.66
Metrics calculated over the period 1 July 2024 - 30 June 2025
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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Author Ray Dalio
ASSET ALLOCATION
Stocks 30% 40%
Fixed Income 55% 60%
Commodities 15% 0%
PERFORMANCES
Annualized Return (%) 3.14 5.29
Infl. Adjusted (%) -1.33 0.73
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Negative Period (months) 45 41
RISK INDICATORS
Standard Deviation (%) 10.40 9.82
Sharpe Ratio 0.04 0.27
Sortino Ratio 0.06 0.35
Ulcer Index 9.55 10.15
Ratio: Return / Standard Deviation 0.30 0.54
Ratio: Return / Deepest Drawdown 0.15 0.25
Metrics calculated over the period 1 July 2020 - 30 June 2025
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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Author Ray Dalio
ASSET ALLOCATION
Stocks 30% 40%
Fixed Income 55% 60%
Commodities 15% 0%
PERFORMANCES
Annualized Return (%) 5.41 6.91
Infl. Adjusted (%) 2.30 3.76
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Negative Period (months) 46 46
RISK INDICATORS
Standard Deviation (%) 8.45 8.33
Sharpe Ratio 0.42 0.61
Sortino Ratio 0.58 0.80
Ulcer Index 6.92 7.32
Ratio: Return / Standard Deviation 0.64 0.83
Ratio: Return / Deepest Drawdown 0.26 0.33
Metrics calculated over the period 1 July 2015 - 30 June 2025
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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Author Ray Dalio
ASSET ALLOCATION
Stocks 30% 40%
Fixed Income 55% 60%
Commodities 15% 0%
PERFORMANCES
Annualized Return (%) 7.37 8.19
Infl. Adjusted (%) 4.74 5.54
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Negative Period (months) 46 46
RISK INDICATORS
Standard Deviation (%) 7.45 7.10
Sharpe Ratio 0.68 0.83
Sortino Ratio 0.92 1.09
Ulcer Index 4.46 5.26
Ratio: Return / Standard Deviation 0.99 1.15
Ratio: Return / Deepest Drawdown 0.36 0.39
Metrics calculated over the period 1 July 1995 - 30 June 2025
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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Author Ray Dalio
ASSET ALLOCATION
Stocks 30% 40%
Fixed Income 55% 60%
Commodities 15% 0%
PERFORMANCES
Annualized Return (%) 9.13 9.84
Infl. Adjusted (%) 6.10 6.79
DRAWDOWN
Deepest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Drawdown Depth (%) -20.58 -21.11
Start to Recovery (months) 42 35
Longest Negative Period (months) 46 46
RISK INDICATORS
Standard Deviation (%) 7.67 7.47
Sharpe Ratio 0.72 0.84
Sortino Ratio 1.00 1.12
Ulcer Index 3.92 4.65
Ratio: Return / Standard Deviation 1.19 1.32
Ratio: Return / Deepest Drawdown 0.44 0.47
Metrics calculated over the period 1 January 1982 - 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 1982 - 30 June 2025 (~44 years)
30 Years
(1995/07 - 2025/06)

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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-21.11 35 Nov 2021
Sep 2024
-20.58 42 Jan 2022
Jun 2025
-20.54 30 Nov 2007
Apr 2010
-11.57 9 Jan 2009
Sep 2009
-11.38 6 Jul 2008
Dec 2008
-8.48 28 Feb 2001
May 2003
-7.10 4 Feb 2020
May 2020
-6.66 17 Feb 2015
Jun 2016
-6.42 13 Aug 2016
Aug 2017
-5.89 6 Oct 2018
Mar 2019
-5.29 9 May 2013
Jan 2014
-4.83 4 Jul 1998
Oct 1998
-4.76 6 Apr 2004
Sep 2004
-4.74 4 Jun 2003
Sep 2003
-4.71 7 Sep 2018
Mar 2019

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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Drawdown
(%)
Recovery
(#Months)
From
To
Drawdown
(%)
Recovery
(#Months)
From
To
-21.11 35 Nov 2021
Sep 2024
-20.58 42 Jan 2022
Jun 2025
-20.54 30 Nov 2007
Apr 2010
-13.77 19 Sep 1987
Mar 1989
-11.57 9 Jan 2009
Sep 2009
-11.38 6 Jul 2008
Dec 2008
-8.78 13 Sep 1987
Sep 1988
-8.48 28 Feb 2001
May 2003
-7.10 4 Feb 2020
May 2020
-7.10 16 May 1983
Aug 1984
-6.83 14 Feb 1994
Mar 1995
-6.66 17 Feb 2015
Jun 2016
-6.42 13 Aug 2016
Aug 2017
-6.28 7 Feb 1984
Aug 1984
-5.91 13 Feb 1994
Feb 1995

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 1982 - 30 June 2025 (~44 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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All Weather Portfolio Stocks/Bonds 40/60 Momentum
Year Return
(%)
Drawdown
(%)
Return
(%)
Drawdown
(%)
2025
5.58 -1.94 9.10 -2.93
2024
6.36 -3.73 13.98 -3.77
2023
9.95 -9.25 6.90 -5.19
2022
-18.39 -20.58 -15.17 -19.48
2021
8.27 -3.74 4.23 -2.38
2020
15.88 -3.68 16.57 -7.10
2019
17.93 -0.83 16.20 -0.81
2018
-3.02 -4.71 -0.73 -5.89
2017
11.55 -0.49 17.14 0.00
2016
6.50 -6.42 3.51 -3.61
2015
-3.23 -6.66 3.91 -2.95
2014
12.89 -2.52 9.34 -1.49
2013
1.71 -5.29 12.57 -1.74
2012
7.02 -1.33 7.87 -2.05
2011
15.64 -2.00 7.13 -3.62
2010
12.88 -0.69 10.93 -3.48
2009
2.71 -11.57 9.16 -9.41
2008
2.38 -11.38 -12.27 -15.80
2007
11.88 -1.20 11.21 -0.82
2006
6.93 -1.71 6.78 -1.50
2005
8.55 -2.99 9.09 -0.93
2004
9.41 -4.76 9.22 -2.12
2003
13.96 -4.74 12.78 -1.27
2002
7.77 -1.56 0.04 -5.36
2001
-2.77 -4.61 -1.88 -6.89
2000
10.15 -2.26 2.99 -3.33
1999
6.28 -3.79 15.71 -1.69
1998
11.05 -4.83 24.65 -4.13
1997
13.54 -2.89 20.41 -2.69
1996
8.27 -2.11 14.08 -1.52
1995
27.44 0.00 27.84 0.00
1994
-3.28 -6.83 -2.03 -5.91
1993
12.02 -1.98 11.10 -0.87
1992
6.76 -2.23 6.01 -2.11
1991
17.98 -1.86 23.91 -1.79
1990
3.85 -5.51 5.79 -5.29
1989
20.45 -1.14 25.29 -1.01
1988
10.59 -1.93 7.24 -2.95
1987
3.47 -8.78 1.86 -13.77
1986
20.56 -3.75 18.14 -4.37
1985
28.68 -2.13 26.30 -0.74
1984
8.03 -6.61 8.68 -6.28
1983
7.06 -3.16 9.91 -2.81
1982
31.65 -3.13 30.86 -1.48
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