As of June 2026, in the previous 30 Years, the Stocks/Bonds 40/60 Portfolio obtained a 6.98% compound annual return, with a 7.08% standard deviation. It suffered a maximum drawdown of -19.17% that required 25 months to be recovered.

As of June 2026, in the previous 30 Years, the Harry Browne Permanent Portfolio obtained a 7.02% compound annual return, with a 6.85% standard deviation. It suffered a maximum drawdown of -15.92% that required 27 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.

Table of contents

Asset Allocations and ETFs

The compared portfolios have the following asset allocations.

Stocks/Bonds 40/60 Portfolio
Weight
(%)		 Ticker Name
40.00
VTI
Vanguard Total Stock Market
60.00
BND
Vanguard Total Bond Market
Harry Browne
Harry Browne Permanent Portfolio
Weight
(%)		 Ticker Name
25.00
VTI
Vanguard Total Stock Market
25.00
BIL
SPDR Blmbg Barclays 1-3 Mth T-Bill
25.00
TLT
iShares 20+ Year Treasury Bond
25.00
GLD
SPDR Gold Trust

Portfolio Returns as of Jun 30, 2026

Return Comparison
Capital Growth
Inflation Adj:
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Return (%) as of Jun 30, 2026
YTD
(6M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~227Y)
http://www.lazyportfolioetf.com/wp-content/lzp-assets/img/author/avatar_us_author.webp Stocks/Bonds 40/60
-- Market Benchmark 		4.86 -0.01 4.86 11.31 5.07 7.01 6.98 6.71
http://www.lazyportfolioetf.com/wp-content/lzp-assets/img/author/avatar_harry_browne.webp Permanent Portfolio
Harry Browne 		1.69 -2.70 1.69 13.99 7.18 7.04 7.02 5.43
Returns over 1 year are annualized.

Portfolio Metrics as of Jun 30, 2026

The following metrics, updated as of 30 June 2026, provide an overview of performance and risk, with the best value in each row highlighted within the table.

METRIC COMPARISON
1Y
5Y
10Y
30Y
MAX
Period: ()
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Stocks/Bonds 40/60 Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 40% 25%
Fixed Income 60% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 11.31 13.99
Infl. Adjusted (%) 7.16 9.73
DRAWDOWN
Deepest Drawdown Depth (%) -3.04 -5.30
Start to Recovery (months) 2 4*
Longest Drawdown Depth (%) -0.18 -5.30
Start to Recovery (months) 2 4*
Longest Negative Period (months) 6 5*
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
Standard Deviation (%) 5.69 9.39
Sharpe Ratio 1.32 1.08
Sortino Ratio 1.77 1.34
Ulcer Index 0.84 2.34
Ratio: Return / Standard Deviation 1.99 1.49
Ratio: Return / Deepest Drawdown 3.72 2.64
Metrics calculated over the period 1 July 2025 - 30 June 2026
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Stocks/Bonds 40/60 Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 40% 25%
Fixed Income 60% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 5.07 7.18
Infl. Adjusted (%) 0.74 2.76
DRAWDOWN
Deepest Drawdown Depth (%) -18.63 -15.92
Start to Recovery (months) 30 27
Longest Drawdown Depth (%) -18.63 -15.92
Start to Recovery (months) 30 27
Longest Negative Period (months) 34 30
RISK INDICATORS
Standard Deviation (%) 9.30 8.80
Sharpe Ratio 0.17 0.42
Sortino Ratio 0.23 0.56
Ulcer Index 7.38 5.92
Ratio: Return / Standard Deviation 0.55 0.82
Ratio: Return / Deepest Drawdown 0.27 0.45
Metrics calculated over the period 1 July 2021 - 30 June 2026
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Stocks/Bonds 40/60 Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 40% 25%
Fixed Income 60% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 7.01 7.04
Infl. Adjusted (%) 3.54 3.57
DRAWDOWN
Deepest Drawdown Depth (%) -18.63 -15.92
Start to Recovery (months) 30 27
Longest Drawdown Depth (%) -18.63 -15.92
Start to Recovery (months) 30 27
Longest Negative Period (months) 38 40
RISK INDICATORS
Standard Deviation (%) 8.09 7.59
Sharpe Ratio 0.59 0.64
Sortino Ratio 0.79 0.88
Ulcer Index 5.37 4.49
Ratio: Return / Standard Deviation 0.87 0.93
Ratio: Return / Deepest Drawdown 0.38 0.44
Metrics calculated over the period 1 July 2016 - 30 June 2026
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Stocks/Bonds 40/60 Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 40% 25%
Fixed Income 60% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 6.98 7.02
Infl. Adjusted (%) 4.32 4.36
DRAWDOWN
Deepest Drawdown Depth (%) -19.17 -15.92
Start to Recovery (months) 25 27
Longest Drawdown Depth (%) -8.59 -15.92
Start to Recovery (months) 33 27
Longest Negative Period (months) 50 40
RISK INDICATORS
Standard Deviation (%) 7.08 6.85
Sharpe Ratio 0.67 0.70
Sortino Ratio 0.89 0.97
Ulcer Index 4.21 3.23
Ratio: Return / Standard Deviation 0.99 1.03
Ratio: Return / Deepest Drawdown 0.36 0.44
Metrics calculated over the period 1 July 1996 - 30 June 2026
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Stocks/Bonds 40/60 Permanent Portfolio
Author Harry Browne
ASSET ALLOCATION
Stocks 40% 25%
Fixed Income 60% 50%
Commodities 0% 25%
PERFORMANCES
Annualized Return (%) 6.71 5.43
Infl. Adjusted (%) 5.14 3.88
DRAWDOWN
Deepest Drawdown Depth (%) -43.68 -30.61
Start to Recovery (months) 73 46
Longest Drawdown Depth (%) -43.68 -14.17
Start to Recovery (months) 73 53
Longest Negative Period (months) 134 80
RISK INDICATORS
Standard Deviation (%) 6.66 5.09
Sharpe Ratio 0.37 0.23
Sortino Ratio 0.52 0.35
Ulcer Index 5.10 2.97
Ratio: Return / Standard Deviation 1.01 1.07
Ratio: Return / Deepest Drawdown 0.15 0.18
Metrics calculated over the period 1 January 1800 - 30 June 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
Inflation Adj:

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

Time to Target

What it shows: Months to reach your target capital from each historical entry point, accounting for your initial investment and periodic contributions.

Time to Target Comparison
Time to reach your Target Capital

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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Stocks/Bonds 40/60 Permanent Portfolio
Year Return
(%)		 Drawdown
(%)		 Return
(%)		 Drawdown
(%)
2026
 4.86 -3.04 1.69 -5.30
2025
 11.09 -2.35 22.29 0.00
2024
 10.35 -3.23 11.90 -2.51
2023
 13.66 -6.58 11.55 -5.68
2022
 -15.67 -18.63 -12.53 -15.92
2021
 9.15 -2.56 4.21 -4.43
2020
 13.04 -8.09 16.10 -3.30
2019
 17.57 -1.77 16.17 -1.10
2018
 -2.15 -5.36 -1.76 -4.25
2017
 10.63 0.00 10.97 -0.83
2016
 6.64 -1.57 5.54 -6.98
2015
 0.48 -3.41 -3.06 -6.73
2014
 8.51 -1.20 9.40 -2.62
2013
 12.12 -1.84 -2.08 -6.04
2012
 8.47 -2.11 6.41 -1.83
2011
 5.14 -4.76 11.11 -1.85
2010
 10.69 -3.96 13.92 -0.53
2009
 13.74 -8.68 7.85 -6.22
2008
 -10.67 -14.39 0.87 -12.63
2007
 6.30 -1.93 12.69 -1.20
2006
 8.84 -1.40 10.94 -2.12
2005
 3.96 -1.77 8.91 -1.25
2004
 7.66 -2.46 6.83 -4.20
2003
 14.68 -1.08 13.32 -2.34
2002
 -3.23 -6.97 5.85 -4.02
2001
 0.67 -5.62 -0.52 -4.13
2000
 2.61 -4.51 2.40 -3.23
1999
 9.07 -2.57 5.17 -3.54
1998
 14.45 -6.25 10.09 -5.34
1997
 18.06 -2.41 7.19 -2.33
1996
 10.53 -2.15 5.08 -2.02
1995
 25.22 0.00 18.11 0.00
1994
 -1.66 -5.98 -1.37 -3.63
1993
 10.06 -1.23 12.00 -0.99
1992
 7.93 -1.27 3.57 -1.77
1991
 22.10 -1.98 11.72 -0.88
1990
 2.76 -5.70 1.11 -4.53
1989
 19.43 -1.12 12.90 -1.18
1988
 11.34 -1.71 4.39 -1.50
1987
 1.97 -13.08 7.42 -5.78
1986
 14.89 -4.37 17.64 -1.28
1985
 25.86 -1.17 20.47 -2.05
1984
 9.88 -5.84 2.22 -3.58
1983
 12.20 -2.64 3.46 -2.83
1982
 26.88 -2.17 23.27 -5.51
1981
 3.99 -6.81 -5.34 -9.88
1980
 14.99 -8.39 13.65 -11.38
1979
 12.91 -6.34 39.77 -4.50
1978
 4.07 -5.90 12.78 -5.31
1977
 -0.72 -3.59 6.43 -2.00
1976
 18.84 -1.06 11.22 -2.75
1975
 19.54 -5.93 6.98 -7.00
1974
 -7.71 -13.50 12.43 -11.15
1973
 -4.59 -5.73 15.65 -6.85
1972
 8.68 -1.10 18.84 -1.56
1971
 12.75 -5.80 12.86 -1.09
1970
 12.26 -8.78 7.89 -4.68
1969
 -5.38 -7.12 -6.38 -8.20
1968
 7.09 -3.10 9.27 -1.10
1967
 10.63 -2.31 6.11 -1.37
1966
 -0.51 -7.40 -0.04 -3.86
1965
 6.11 -1.52 4.59 -0.95
1964
 8.90 -0.46 6.00 -0.25
1963
 9.44 -1.27 6.05 -0.74
1962
 -0.42 -8.22 -0.23 -4.93
1961
 11.57 -1.78 6.50 -1.00
1960
 8.19 -2.58 5.64 -1.14
1959
 4.09 -3.21 2.72 -1.85
1958
 16.24 -0.74 9.97 -0.31
1957
 1.17 -4.90 0.57 -2.86
1956
 2.47 -3.96 1.35 -2.43
1955
 9.83 -0.87 6.24 -0.67
1954
 21.93 -1.61 14.12 -0.94
1953
 2.45 -4.06 -0.87 -4.16
1952
 6.80 -2.08 3.37 -1.26
1951
 8.33 -2.81 4.37 -1.85
1950
 12.06 -2.45 7.47 -1.53
1949
 10.62 -1.47 6.13 -1.15
1948
 2.50 -4.32 1.16 -2.70
1947
 1.27 -2.13 3.61 -1.52
1946
 -2.08 -9.26 -0.66 -5.77
1945
 18.36 -1.37 12.40 -0.87
1944
 9.86 -0.57 5.95 -0.36
1943
 12.64 -3.58 8.33 -2.35
1942
 7.47 -5.00 5.04 -3.00
1941
 -2.69 -6.19 -1.49 -3.80
1940
 -0.28 -10.39 -0.01 -6.09
1939
 2.79 -5.09 1.75 -3.29
1938
 13.98 -10.41 8.45 -6.59
1937
 -12.81 -15.42 -8.65 -10.20
1936
 16.17 -2.94 10.39 -1.85
1935
 20.86 -2.56 12.79 -1.85
1934
 5.30 -5.32 5.72 -3.27
1933
 24.67 -9.11 28.60 -5.74
1932
 3.90 -15.57 2.17 -10.03
1931
 -18.89 -24.29 -12.64 -16.23
1930
 -6.69 -13.91 -4.39 -9.07
1929
 -1.97 -13.91 -0.83 -9.26
1928
 14.91 -1.98 10.25 -1.14
1927
 16.51 -1.80 11.58 -1.05
1926
 7.41 -3.13 5.78 -1.79
1925
 12.21 -2.63 8.98 -1.51
1924
 15.54 -0.89 10.18 -0.44
1923
 4.38 -4.74 3.65 -2.70
1922
 14.92 -1.92 9.97 -1.17
1921
 11.92 -3.20 8.74 -1.62
1920
 -5.48 -5.80 -1.56 -2.72
1919
 9.18 -3.41 6.55 -2.10
1918
 10.02 -1.24 7.63 -0.71
1917
 -8.47 -8.47 -4.88 -4.88
1916
 5.41 -1.10 4.56 -0.66
1915
 16.21 -0.82 10.27 -0.48
1914
 1.71 -6.40 1.02 -3.96
1913
 0.41 -2.35 0.91 -1.08
1912
 3.79 -1.64 3.57 -0.83
1911
 3.85 -3.88 2.86 -2.33
1910
 1.13 -3.45 0.96 -1.93
1909
 7.30 -0.82 5.56 -0.47
1908
 22.62 -0.76 13.65 -0.55
1907
 -9.88 -10.61 -5.24 -5.97
1906
 0.68 -4.20 1.58 -1.96
1905
 8.89 -2.45 6.99 -1.27
1904
 16.35 -1.04 10.35 -0.56
1903
 -5.56 -9.38 -2.87 -5.48
1902
 3.88 -3.25 3.72 -1.71
1901
 8.86 -3.45 6.40 -2.12
1900
 10.62 -1.73 7.28 -1.02
1899
 1.22 -3.83 2.46 -1.66
1898
 14.49 -5.07 9.71 -2.16
1897
 11.63 -1.44 7.76 -0.96
1896
 3.73 -6.81 3.16 -3.48
1895
 2.01 -5.62 2.81 -2.88
1894
 5.09 -1.63 3.47 -0.91
1893
 -4.70 -11.05 -2.22 -6.13
1892
 3.70 -1.24 3.62 -0.58
1891
 10.78 -2.88 6.97 -1.39
1890
 -1.74 -5.18 -0.21 -2.89
1889
 4.31 -1.08 4.74 -0.41
1888
 4.61 -1.96 3.54 -0.99
1887
 0.60 -4.61 1.07 -2.41
1886
 5.22 -2.17 5.01 -0.83
1885
 15.19 -0.95 10.08 -0.41
1884
 -2.59 -7.14 -0.61 -3.78
1883
 0.38 -2.52 0.77 -1.33
1882
 3.29 -2.59 3.35 -1.31
1881
 2.17 -4.53 2.94 -1.91
1880
 13.77 -3.35 9.92 -1.87
1879
 21.48 -0.68 14.82 -0.23
1878
 10.38 -0.17 6.08 -0.22
1877
 1.75 -6.47 1.31 -4.59
1876
 -1.36 -5.59 -1.26 -2.91
1875
 6.03 -1.68 6.22 -0.40
1874
 10.10 -1.40 5.61 -0.80
1873
 1.53 -9.21 1.85 -4.51
1872
 5.54 -3.01 6.24 -0.91
1871
 7.90 -2.38 6.92 -1.19
1870
 5.87 -1.15 5.47 -0.59
1869
 6.03 -2.35 3.70 -1.51
1868
 7.09 -1.17 4.47 -0.73
1867
 6.65 0.00 4.18 0.00
1866
 8.92 -2.05 4.68 -1.42
1865
 2.85 -5.28 4.47 -2.66
1864
 10.70 -2.82 4.66 -2.76
1863
 23.34 -2.03 14.01 -1.41
1862
 33.99 -1.00 17.21 -0.97
1861
 4.08 -7.61 4.59 -4.48
1860
 1.31 -3.91 2.28 -2.22
1859
 5.56 -1.04 2.56 -0.60
1858
 13.30 -0.80 6.49 -0.65
1857
 -3.00 -11.79 0.25 -6.52
1856
 8.28 -0.51 4.63 -0.41
1855
 14.18 -1.34 7.98 -0.95
1854
 -5.33 -6.24 -0.45 -1.86
1853
 1.90 -2.93 2.29 -1.48
1852
 16.98 0.00 8.67 -0.09
1851
 3.12 -1.83 3.41 -0.66
1850
 13.40 0.00 6.80 0.00
1849
 15.95 -0.95 7.73 -0.81
1848
 17.84 0.00 5.99 0.00
1847
 8.42 -4.50 8.11 -2.27
1846
 16.52 -0.79 9.89 -0.59
1845
 -1.28 -3.93 0.23 -2.37
1844
 8.71 -1.32 5.12 -0.87
1843
 52.07 0.00 16.59 -0.46
1842
 0.23 -3.99 5.45 -1.58
1841
 -20.17 -20.17 -2.26 -2.41
1840
 6.29 -1.42 5.37 -0.75
1839
 -11.44 -13.82 -2.30 -5.73
1838
 10.77 -0.29 7.33 -0.13
1837
 -0.57 -8.30 -1.32 -5.41
1836
 5.78 -2.65 5.68 -1.00
1835
 -0.27 -3.54 0.65 -1.74
1834
 10.45 -0.66 4.62 -0.58
1833
 -1.24 -2.78 1.68 -1.09
1832
 8.89 -2.27 1.87 -1.35
1831
 -0.43 -1.49 -1.18 -1.48
1830
 16.21 0.00 9.54 0.00
1829
 10.21 0.00 6.31 0.00
1828
 -3.64 -6.13 -1.59 -3.58
1827
 3.01 -1.06 1.46 -0.76
1826
 4.19 -2.91 2.92 -1.71
1825
 -3.32 -4.01 -1.23 -1.99
1824
 10.45 -0.30 5.53 -0.28
1823
 6.41 -0.14 4.90 -0.01
1822
 0.12 -0.19 1.10 -0.03
1821
 8.58 0.00 4.61 0.00
1820
 8.81 -0.10 4.66 -0.08
1819
 3.15 -1.68 1.24 -1.13
1818
 -5.56 -5.56 -1.39 -2.03
1817
 19.33 0.00 8.96 0.00
1816
 7.68 -0.29 1.17 -2.56
1815
 13.96 -2.19 6.47 -1.56
1814
 -3.08 -3.16 -0.85 -2.29
1813
 1.30 -0.25 6.03 0.00
1812
 6.08 -1.53 5.28 -0.91
1811
 0.23 -1.55 5.11 -0.31
1810
 1.52 -1.16 2.05 -0.58
1809
 6.12 -0.36 4.42 -0.21
1808
 11.93 -0.21 6.45 -0.24
1807
 3.06 -2.91 3.02 -1.71
1806
 11.10 0.00 5.96 -0.08
1805
 3.76 -0.84 3.86 -0.24
1804
 0.73 -0.77 2.50 -0.15
1803
 3.31 -0.36 3.49 0.00
1802
 8.99 -0.65 5.81 -0.33
1801
 14.29 -0.30 8.16 -0.08
1800
 16.72 0.00 7.24 0.00
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