All Country World 40/60 Portfolio: ETF allocation and returns

Data Source: from January 1985 to November 2023 (~39 years)
Consolidated Returns as of 30 November 2023
Live Update: Dec 01 2023
PORTFOLIO • LIVE PERFORMANCE (USD currency)
0.85%
1 Day
Dec 01 2023
0.85%
Current Month
December 2023

The All Country World 40/60 Portfolio is a Medium Risk portfolio and can be implemented with 4 ETFs.

It's exposed for 40% on the Stock Market.

In the last 30 Years, the All Country World 40/60 Portfolio obtained a 6.06% compound annual return, with a 7.63% standard deviation.

Table of contents

Asset Allocation and ETFs

The All Country World 40/60 Portfolio has the following asset allocation:

40% Stocks
60% Fixed Income
0% Commodities

The All Country World 40/60 Portfolio can be implemented with the following ETFs:

Weight (%) Ticker Currency ETF Name Investment Themes
40.00
VT
USD Vanguard Total World Stock Equity, Global, Large Cap
30.00
BND
USD Vanguard Total Bond Market Bond, U.S., All-Term
21.00
BNDX
USD Vanguard Total International Bond Bond, Developed Markets, All-Term
9.00
EMB
USD iShares JP Morgan USD Em Mkts Bd Bond, Emerging Markets, All-Term

Most of Lazy Portfolios are made of common components (asset classes), very simple and well defined. For a more complete view, find out the most common ETFs you can use to build your portfolio.

Portfolio and ETF Returns as of Nov 30, 2023

The All Country World 40/60 Portfolio guaranteed the following returns.

Returns are calculated in USD, assuming: December 2023 return is calculated on the hypothesis of a newly built portfolio, with the starting asset allocation.
ALL COUNTRY WORLD 40/60 PORTFOLIO
Consolidated returns as of 30 November 2023
Live Update: Dec 01 2023
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Nov 30, 2023
  1 Day Time ET(*) Dec 2023 1M 6M 1Y 5Y 10Y 30Y MAX
(~39Y)
All Country World 40/60 Portfolio 0.85 0.85 6.32 3.79 5.63 4.18 4.28 6.06 7.67
US Inflation Adjusted return 6.32 2.60 2.21 0.11 1.42 3.45 4.75
Components
VT
USD Vanguard Total World Stock 0.86 Dec 01 2023 0.86 9.01 8.05 10.90 9.07 7.75 6.45 8.28
BND
USD Vanguard Total Bond Market 0.82 Dec 01 2023 0.82 4.54 -0.60 0.97 0.72 1.33 4.12 5.68
BNDX
USD Vanguard Total International Bond 0.60 Dec 01 2023 0.60 3.43 1.56 2.49 0.52 2.06 4.69 6.57
EMB
USD iShares JP Morgan USD Em Mkts Bd 1.53 Dec 01 2023 1.53 6.23 3.86 4.00 0.79 2.25 8.75 9.37
Returns over 1 year are annualized | Available data source: since Jan 1985
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Oct 2023. Waiting for updates, inflation of Nov 2023 is set to 0%. Current inflation (annualized) is 1Y: 3.35% , 5Y: 4.07% , 10Y: 2.82% , 30Y: 2.52%

In 2022, the All Country World 40/60 Portfolio granted a 2.02% dividend yield. If you are interested in getting periodic income, please refer to the All Country World 40/60 Portfolio: Dividend Yield page.

Capital Growth as of Nov 30, 2023

An investment of 1$, since December 1993, now would be worth 5.84$, with a total return of 483.53% (6.06% annualized).

The Inflation Adjusted Capital now would be 2.77$, with a net total return of 176.53% (3.45% annualized).
An investment of 1$, since January 1985, now would be worth 17.76$, with a total return of 1676.30% (7.67% annualized).

The Inflation Adjusted Capital now would be 6.08$, with a net total return of 507.94% (4.75% annualized).

Portfolio Metrics as of Nov 30, 2023

Metrics of All Country World 40/60 Portfolio, updated as of 30 November 2023.

Metrics are calculated based on monthly returns, assuming:
ALL COUNTRY WORLD 40/60 PORTFOLIO
Advanced Metrics
Data Source: 1 January 1985 - 30 November 2023 (~39 years)
Swipe left to see all data
Metrics as of Nov 30, 2023
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~39Y)
Investment Return (%) 6.32 1.11 3.79 5.63 -0.14 4.18 4.28 5.41 6.06 7.67
Infl. Adjusted Return (%) details 6.32 0.89 2.60 2.21 -5.56 0.11 1.42 2.75 3.45 4.75
US Inflation (%) 0.00 0.21 1.17 3.35 5.74 4.07 2.82 2.59 2.52 2.79
Waiting for updates, inflation of Nov 2023 is temporarily set to 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -6.36 -19.51 -19.51 -19.51 -25.16 -25.16 -25.16
Start to Recovery (# months) details 4* 23* 23* 23* 29 29 29
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2007 11 2007 11 2007 11
Start to Bottom (# months) 3 9 9 9 16 16 16
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 1 14 14 14 13 13 13
End (yyyy mm) - - - - 2010 03 2010 03 2010 03
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 08 2022 01 2022 01 2022 01 2007 11 2007 11 2007 11
Start to Bottom (# months) 3 9 9 9 16 16 16
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 1 14 14 14 13 13 13
End (yyyy mm) - - - - 2010 03 2010 03 2010 03
Longest negative period (# months) details 11 36* 39 39 51 51 51
Period Start (yyyy mm) 2022 12 2020 12 2019 07 2019 07 2004 12 2004 12 2004 12
Period End (yyyy mm) 2023 10 2023 11 2022 09 2022 09 2009 02 2009 02 2009 02
Annualized Return (%) -0.70 -0.14 -0.24 -0.24 -0.50 -0.50 -0.50
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -6.96 -25.72 -25.72 -25.72 -26.31 -26.31 -26.31
Start to Recovery (# months) details 4* 27* 27* 27* 35 35 35
Start (yyyy mm) 2023 08 2021 09 2021 09 2021 09 2007 11 2007 11 2007 11
Start to Bottom (# months) 3 13 13 13 16 16 16
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 1 14 14 14 19 19 19
End (yyyy mm) - - - - 2010 09 2010 09 2010 09
Longest Drawdown Depth (%) -3.28
same as
deepest

same as
deepest

same as
deepest

same as
deepest
-13.25 -13.25
Start to Recovery (# months) details 5 43 43
Start (yyyy mm) 2023 02 2021 09 2021 09 2021 09 2007 11 2000 04 2000 04
Start to Bottom (# months) 1 13 13 13 16 30 30
Bottom (yyyy mm) 2023 02 2022 09 2022 09 2022 09 2009 02 2002 09 2002 09
Bottom to End (# months) 4 14 14 14 19 13 13
End (yyyy mm) 2023 06 - - - 2010 09 2003 10 2003 10
Longest negative period (# months) details 11 36* 59 104 104 111 111
Period Start (yyyy mm) 2022 12 2020 12 2018 12 2015 03 2015 03 1999 12 1999 12
Period End (yyyy mm) 2023 10 2023 11 2023 10 2023 10 2023 10 2009 02 2009 02
Annualized Return (%) -4.20 -5.56 -1.13 -0.01 -0.01 -0.05 -0.05
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 10.44 10.24 10.09 7.86 7.93 7.63 7.92
Sharpe Ratio 0.07 -0.20 0.25 0.41 0.52 0.50 0.46
Sortino Ratio 0.11 -0.28 0.33 0.55 0.68 0.65 0.62
Ulcer Index 2.49 9.48 7.55 5.53 5.75 4.97 4.58
Ratio: Return / Standard Deviation 0.54 -0.01 0.41 0.54 0.68 0.79 0.97
Ratio: Return / Deepest Drawdown 0.89 -0.01 0.21 0.22 0.21 0.24 0.30
% Positive Months details 50% 52% 61% 64% 65% 65% 66%
Positive Months 6 19 37 77 157 236 312
Negative Months 6 17 23 43 83 124 155
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 4.28 8.39 8.53 11.91
Worst 10 Years Return (%) - Annualized 3.69 3.15 3.15
Best 10 Years Return (%) - Annualized 1.42 6.51 6.51 8.04
Worst 10 Years Return (%) - Annualized 0.87 0.56 0.56
ROLLING PERIOD RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 31.03 15.55 12.45 8.53 7.33 6.06
Worst Rolling Return (%) - Annualized -22.54 -4.15 0.40 3.15 4.98
% Positive Periods 81% 95% 100% 100% 100% 100%
Best Rolling Return (%) - Annualized 28.28 12.87 10.06 6.51 4.98 3.45
Worst Rolling Return (%) - Annualized -24.60 -6.22 -2.19 0.56 2.49
% Positive Periods 75% 84% 93% 100% 100% 100%
Over all the available data source (Jan 1985 - Nov 2023)
Best Rolling Return (%) - Annualized 38.52 21.62 17.87 11.91 10.21 8.77
Worst Rolling Return (%) - Annualized -22.54 -4.15 0.40 3.15 4.98 5.75
% Positive Periods 84% 96% 100% 100% 100% 100%
Best Rolling Return (%) - Annualized 35.82 18.02 13.70 8.04 6.99 5.90
Worst Rolling Return (%) - Annualized -24.60 -6.22 -2.19 0.56 2.49 3.15
% Positive Periods 76% 88% 94% 100% 100% 100%
WITHDRAWAL RATES (WR)
1Y 3Y 5Y 10Y 20Y 30Y MAX
Safe WR (%) 31.20 21.69 11.54 7.02 6.01 8.44
Perpetual WR (%) 0.00 0.11 1.40 2.67 3.33 4.53
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation)
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).
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Portfolio Components Correlation

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.
COMPONENTS MONTHLY CORRELATIONS
Monthly correlations as of 30 November 2023
Swipe left to see all data
Asset
VT
BND
BNDX
EMB
VT
-
0.85
0.81
0.97
BND
0.85
-
0.89
0.91
BNDX
0.81
0.89
-
0.82
EMB
0.97
0.91
0.82
-
Asset
VT
BND
BNDX
EMB
VT
-
0.52
0.54
0.81
BND
0.52
-
0.89
0.73
BNDX
0.54
0.89
-
0.72
EMB
0.81
0.73
0.72
-
Asset
VT
BND
BNDX
EMB
VT
-
0.41
0.41
0.75
BND
0.41
-
0.87
0.70
BNDX
0.41
0.87
-
0.66
EMB
0.75
0.70
0.66
-
Asset
VT
BND
BNDX
EMB
VT
-
0.17
0.17
0.61
BND
0.17
-
0.67
0.50
BNDX
0.17
0.67
-
0.36
EMB
0.61
0.50
0.36
-
Asset
VT
BND
BNDX
EMB
VT
-
0.20
0.21
0.57
BND
0.20
-
0.74
0.52
BNDX
0.21
0.74
-
0.43
EMB
0.57
0.52
0.43
-

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

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.

ALL COUNTRY WORLD 40/60 PORTFOLIO
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 December 1993 - 30 November 2023 (30 Years)
Data Source: 1 January 1985 - 30 November 2023 (~39 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-25.16% Nov 2007 Feb 2009 16 Mar 2010 13 29 11.64
-19.51% Jan 2022 Sep 2022 9 in progress 14 23 11.75
-10.07% Feb 2020 Mar 2020 2 Jul 2020 4 6 4.52
-9.09% Feb 2001 Sep 2002 20 May 2003 8 28 4.14
-7.33% May 1998 Aug 1998 4 Oct 1998 2 6 3.23
-6.92% May 2011 Sep 2011 5 Jan 2012 4 9 2.89
-5.70% Feb 1994 Jun 1994 5 Apr 1995 10 15 4.06
-5.40% Feb 2018 Dec 2018 11 Mar 2019 3 14 2.53
-5.18% May 2015 Sep 2015 5 Jun 2016 9 14 2.81
-4.01% May 2013 Jun 2013 2 Oct 2013 4 6 2.16
-3.78% Sep 2000 Nov 2000 3 Jan 2001 2 5 2.14
-3.62% May 2010 Jun 2010 2 Jul 2010 1 3 2.55
-3.61% May 2012 May 2012 1 Jul 2012 2 3 1.91
-3.35% Aug 1997 Aug 1997 1 Feb 1998 6 7 1.85
-3.27% Apr 2000 May 2000 2 Aug 2000 3 5 1.70
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-26.31% Nov 2007 Feb 2009 16 Sep 2010 19 35 12.33
-25.72% Sep 2021 Sep 2022 13 in progress 14 27 17.38
-13.25% Apr 2000 Sep 2002 30 Oct 2003 13 43 6.28
-10.12% Feb 2020 Mar 2020 2 Jul 2020 4 6 4.41
-7.84% May 1998 Aug 1998 4 Nov 1998 3 7 3.32
-7.73% May 2011 Sep 2011 5 Feb 2012 5 10 3.20
-7.59% Feb 1994 Jan 1995 12 Jul 1995 6 18 5.31
-6.66% Feb 2018 Dec 2018 11 Jun 2019 6 17 3.45
-5.90% Mar 2015 Sep 2015 7 Jul 2016 10 17 3.06
-4.41% May 2013 Jun 2013 2 Oct 2013 4 6 2.49
-3.92% Mar 2012 May 2012 3 Jul 2012 2 5 1.71
-3.85% Mar 2004 May 2004 3 Nov 2004 6 9 2.38
-3.53% Aug 1997 Aug 1997 1 Feb 1998 6 7 2.20
-2.92% Jan 2005 Apr 2005 4 Aug 2005 4 8 1.35
-2.83% Jan 2000 Jan 2000 1 Mar 2000 2 3 1.79
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-25.16% Nov 2007 Feb 2009 16 Mar 2010 13 29 11.64
-19.51% Jan 2022 Sep 2022 9 in progress 14 23 11.75
-12.43% Sep 1987 Nov 1987 3 Oct 1988 11 14 5.50
-10.07% Feb 2020 Mar 2020 2 Jul 2020 4 6 4.52
-9.41% Jan 1990 Sep 1990 9 Feb 1991 5 14 4.82
-9.09% Feb 2001 Sep 2002 20 May 2003 8 28 4.14
-7.33% May 1998 Aug 1998 4 Oct 1998 2 6 3.23
-6.92% May 2011 Sep 2011 5 Jan 2012 4 9 2.89
-5.70% Feb 1994 Jun 1994 5 Apr 1995 10 15 4.06
-5.40% Feb 2018 Dec 2018 11 Mar 2019 3 14 2.53
-5.18% May 2015 Sep 2015 5 Jun 2016 9 14 2.81
-4.16% Jan 1992 Mar 1992 3 Jul 1992 4 7 2.18
-4.01% May 2013 Jun 2013 2 Oct 2013 4 6 2.16
-3.78% Sep 2000 Nov 2000 3 Jan 2001 2 5 2.14
-3.68% Sep 1986 Sep 1986 1 Nov 1986 2 3 1.84
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-26.31% Nov 2007 Feb 2009 16 Sep 2010 19 35 12.33
-25.72% Sep 2021 Sep 2022 13 in progress 14 27 17.38
-13.92% Jan 1990 Sep 1990 9 Oct 1991 13 22 6.70
-13.25% Apr 2000 Sep 2002 30 Oct 2003 13 43 6.28
-13.19% Sep 1987 Nov 1987 3 Jul 1989 20 23 5.58
-10.12% Feb 2020 Mar 2020 2 Jul 2020 4 6 4.41
-7.84% May 1998 Aug 1998 4 Nov 1998 3 7 3.32
-7.73% May 2011 Sep 2011 5 Feb 2012 5 10 3.20
-7.59% Feb 1994 Jan 1995 12 Jul 1995 6 18 5.31
-6.66% Feb 2018 Dec 2018 11 Jun 2019 6 17 3.45
-5.90% Mar 2015 Sep 2015 7 Jul 2016 10 17 3.06
-5.12% Jan 1992 Mar 1992 3 Jan 1993 10 13 2.50
-4.41% May 2013 Jun 2013 2 Oct 2013 4 6 2.49
-4.12% Sep 1986 Sep 1986 1 Nov 1986 2 3 2.08
-3.92% Mar 2012 May 2012 3 Jul 2012 2 5 1.71

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

ALL COUNTRY WORLD 40/60 PORTFOLIO
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 December 1993 - 30 November 2023 (30 Years)
Data Source: 1 January 1985 - 30 November 2023 (~39 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -22.54 03/2008
02/2009
0.77$ -1.10 0.98$ 7.56 1.07$ 12.51 1.12$ 31.03 03/2009
02/2010
1.31$ 5.63 18.05%
2Y -10.01 03/2007
02/2009
0.80$ 0.94 1.01$ 7.05 1.14$ 10.77 1.22$ 21.25 03/2009
02/2011
1.47$ -3.45 12.46%
3Y -4.15 03/2006
02/2009
0.88$ 2.23 1.06$ 6.64 1.21$ 10.15 1.33$ 15.55 03/2009
02/2012
1.54$ -0.14 4.92%
5Y 0.40 03/2004
02/2009
1.01$ 4.17 1.22$ 5.77 1.32$ 8.89 1.53$ 12.45 01/1995
12/1999
1.79$ 4.18 0.00%
7Y 2.60 03/2002
02/2009
1.19$ 5.22 1.42$ 6.08 1.51$ 6.97 1.60$ 9.00 03/2009
02/2016
1.82$ 4.55 0.00%
10Y 3.15 03/1999
02/2009
1.36$ 4.85 1.60$ 6.31 1.84$ 7.41 2.04$ 8.53 01/1995
12/2004
2.26$ 4.28 0.00%
15Y 3.92 11/2007
10/2022
1.77$ 5.44 2.21$ 6.03 2.40$ 6.70 2.64$ 7.26 04/1995
03/2010
2.86$ 6.41 0.00%
20Y 4.98 04/2000
03/2020
2.64$ 5.65 3.00$ 6.11 3.27$ 6.83 3.74$ 7.33 03/1995
02/2015
4.11$ 5.41 0.00%
30Y 6.06 12/1993
11/2023
5.83$ 6.06 5.83$ 6.06 5.83$ 6.06 5.83$ 6.06 12/1993
11/2023
5.83$ 6.06 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -24.60 11/2007
10/2008
0.75$ -3.55 0.96$ 5.33 1.05$ 9.98 1.09$ 28.28 03/2009
02/2010
1.28$ 2.21 24.93%
2Y -11.87 03/2007
02/2009
0.77$ -0.95 0.98$ 4.65 1.09$ 8.39 1.17$ 18.73 03/2009
02/2011
1.40$ -8.23 18.10%
3Y -6.22 03/2006
02/2009
0.82$ -0.06 0.99$ 4.44 1.13$ 7.37 1.23$ 12.87 03/2009
02/2012
1.43$ -5.56 15.08%
5Y -2.19 03/2004
02/2009
0.89$ 1.83 1.09$ 3.71 1.19$ 6.27 1.35$ 10.06 03/2009
02/2014
1.61$ 0.11 6.98%
7Y -0.01 11/2016
10/2023
0.99$ 2.92 1.22$ 3.82 1.29$ 4.79 1.38$ 7.29 11/2008
10/2015
1.63$ 0.98 0.36%
10Y 0.56 03/1999
02/2009
1.05$ 2.35 1.26$ 3.97 1.47$ 4.91 1.61$ 6.51 03/2009
02/2019
1.87$ 1.42 0.00%
15Y 1.49 11/2007
10/2022
1.24$ 3.16 1.59$ 3.77 1.74$ 4.23 1.86$ 4.85 02/2003
01/2018
2.03$ 3.81 0.00%
20Y 2.49 11/2003
10/2023
1.63$ 3.23 1.88$ 3.90 2.14$ 4.37 2.35$ 4.98 03/1995
02/2015
2.64$ 2.75 0.00%
30Y 3.45 12/1993
11/2023
2.76$ 3.45 2.76$ 3.45 2.76$ 3.45 2.76$ 3.45 12/1993
11/2023
2.76$ 3.45 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -22.54 03/2008
02/2009
0.77$ -0.23 0.99$ 8.07 1.08$ 14.53 1.14$ 38.52 04/1985
03/1986
1.38$ 5.63 15.35%
2Y -10.01 03/2007
02/2009
0.80$ 2.58 1.05$ 7.56 1.15$ 11.53 1.24$ 31.42 03/1985
02/1987
1.72$ -3.45 9.46%
3Y -4.15 03/2006
02/2009
0.88$ 3.33 1.10$ 7.33 1.23$ 10.84 1.36$ 21.62 03/1985
02/1988
1.79$ -0.14 3.70%
5Y 0.40 03/2004
02/2009
1.01$ 4.47 1.24$ 6.83 1.39$ 10.10 1.61$ 17.87 01/1985
12/1989
2.27$ 4.18 0.00%
7Y 2.60 03/2002
02/2009
1.19$ 5.47 1.45$ 6.46 1.54$ 9.57 1.89$ 14.65 01/1985
12/1991
2.60$ 4.55 0.00%
10Y 3.15 03/1999
02/2009
1.36$ 5.10 1.64$ 6.96 1.96$ 9.29 2.43$ 11.91 01/1985
12/1994
3.08$ 4.28 0.00%
15Y 3.92 11/2007
10/2022
1.77$ 5.71 2.29$ 6.43 2.54$ 8.20 3.25$ 12.09 01/1985
12/1999
5.53$ 6.41 0.00%
20Y 4.98 04/2000
03/2020
2.64$ 5.76 3.06$ 6.78 3.71$ 7.94 4.60$ 10.21 01/1985
12/2004
6.98$ 5.41 0.00%
30Y 5.75 11/1993
10/2023
5.35$ 6.39 6.40$ 7.00 7.61$ 7.45 8.64$ 8.77 01/1985
12/2014
12.43$ 6.06 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -24.60 11/2007
10/2008
0.75$ -2.95 0.97$ 5.49 1.05$ 11.34 1.11$ 35.82 09/1985
08/1986
1.35$ 2.21 23.90%
2Y -11.87 03/2007
02/2009
0.77$ -0.23 0.99$ 4.73 1.09$ 8.75 1.18$ 28.08 03/1985
02/1987
1.64$ -8.23 15.09%
3Y -6.22 03/2006
02/2009
0.82$ 0.81 1.02$ 4.63 1.14$ 7.94 1.25$ 18.02 03/1985
02/1988
1.64$ -5.56 11.81%
5Y -2.19 03/2004
02/2009
0.89$ 2.07 1.10$ 4.30 1.23$ 7.11 1.41$ 13.70 01/1985
12/1989
1.90$ 0.11 5.15%
7Y -0.01 11/2016
10/2023
0.99$ 3.12 1.24$ 4.24 1.33$ 6.36 1.53$ 10.32 01/1985
12/1991
1.98$ 0.98 0.26%
10Y 0.56 03/1999
02/2009
1.05$ 3.06 1.35$ 4.61 1.56$ 5.92 1.77$ 8.04 01/1985
12/1994
2.16$ 1.42 0.00%
15Y 1.49 11/2007
10/2022
1.24$ 3.38 1.64$ 4.09 1.82$ 5.34 2.18$ 8.64 01/1985
12/1999
3.46$ 3.81 0.00%
20Y 2.49 11/2003
10/2023
1.63$ 3.46 1.97$ 4.23 2.29$ 4.89 2.59$ 6.99 01/1985
12/2004
3.86$ 2.75 0.00%
30Y 3.15 11/1993
10/2023
2.53$ 3.77 3.03$ 4.42 3.65$ 4.91 4.21$ 5.90 01/1985
12/2014
5.57$ 3.45 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the All Country World 40/60 Portfolio: Rolling Returns page.

Seasonality

In which months is it better to invest in All Country World 40/60 Portfolio?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.17
60%
-1.20
20%
-0.75
60%
0.83
80%
0.25
60%
0.84
80%
2.07
100%
-0.34
60%
-2.49
20%
0.54
60%
3.49
80%
0.20
60%
Best 4.9
2023
1.2
2019
2.6
2023
5.3
2020
2.7
2020
3.6
2019
4.4
2022
1.9
2020
0.6
2019
2.2
2021
6.3
2023
2.3
2020
Worst -3.0
2022
-2.7
2023
-8.0
2020
-5.7
2022
-1.7
2019
-4.6
2022
0.4
2019
-3.5
2022
-6.2
2022
-1.8
2023
-1.1
2021
-2.7
2022
Monthly Seasonality over the period Feb 1985 - Nov 2023
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.65
60%
-0.19
50%
0.07
60%
0.72
80%
0.46
70%
0.47
70%
1.53
90%
-0.16
70%
-1.43
30%
0.27
60%
1.91
70%
0.20
60%
Best 4.9
2023
2.6
2014
3.8
2016
5.3
2020
2.7
2020
3.6
2019
4.4
2022
1.9
2020
0.7
2017
3.1
2015
6.3
2023
2.3
2020
Worst -3.0
2022
-2.7
2023
-8.0
2020
-5.7
2022
-1.7
2019
-4.6
2022
-0.7
2014
-3.5
2022
-6.2
2022
-3.7
2018
-1.1
2021
-2.7
2022
Monthly Seasonality over the period Feb 1985 - Nov 2023
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.67
64%
0.41
64%
0.46
64%
0.99
79%
0.61
62%
0.39
62%
1.15
72%
0.08
62%
-0.18
54%
0.63
67%
1.09
72%
1.44
82%
Best 6.7
1987
6.1
1986
5.0
1986
5.7
2009
5.8
1990
3.6
2019
5.5
1989
5.4
1986
3.8
2010
4.6
1998
6.3
2023
5.7
2008
Worst -5.3
2009
-4.4
2009
-8.0
2020
-5.7
2022
-3.6
2012
-4.6
2022
-3.4
2002
-7.2
1998
-6.4
2008
-10.2
2008
-2.6
1987
-2.7
2022
Monthly Seasonality over the period Feb 1985 - Nov 2023

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the All Country World 40/60 Portfolio over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

ALL COUNTRY WORLD 40/60 PORTFOLIO
Monthly Returns Distribution
Data Source: 1 December 1993 - 30 November 2023 (30 Years)
Data Source: 1 January 1985 - 30 November 2023 (~39 years)
236 Positive Months (66%) - 124 Negative Months (34%)
312 Positive Months (67%) - 155 Negative Months (33%)
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(Scroll down to see all data)
Investment Returns, up to December 2013, are simulated.
They have been derived using the historical series of equivalent ETFs / Assets, instead of the actual ETFs of the portfolio.

In particular, the series derived from equivalent datasets are:
  • VT - Vanguard Total World Stock, up to December 2008
  • BND - Vanguard Total Bond Market, up to December 2007
  • BNDX - Vanguard Total International Bond, up to December 2013
  • EMB - iShares JP Morgan USD Em Mkts Bd, up to December 2007

Portfolio efficiency

The following portfolios granted a higher return over 30 Years and a less severe drawdown at the same time.

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30 Years Stats (%)
% Allocation
Portfolio Author Return Dev.Std Drawdown Stocks Bonds Comm
Stocks/Bonds 40/60 Momentum +7.75 6.99 -21.11 40 60 0
Golden Butterfly Tyler +7.46 7.68 -17.79 40 40 20
All Weather Portfolio Ray Dalio +7.19 7.39 -20.58 30 55 15
Stocks/Bonds 40/60 +6.83 6.98 -19.17 40 60 0
GAA Global Asset Allocation Mebane Faber +6.77 8.06 -24.91 40.5 49.5 10
Simplified Permanent Portfolio +6.75 6.88 -16.43 25 50 25
Zefiro Portfolio Zefiro SCF +6.52 7.48 -20.61 20 50 30
Edge Select Moderately Conservative Merrill Lynch +6.49 6.86 -20.48 37 63 0
Desert Portfolio Gyroscopic Investing +6.48 5.50 -14.72 30 60 10
Rob Arnott Portfolio Rob Arnott +6.46 7.22 -24.27 30 60 10
High Yield Bonds Income +6.42 8.80 -23.97 0 100 0
Permanent Portfolio Harry Browne +6.37 6.58 -15.92 25 50 25
Lifepath Fund iShares +6.37 7.00 -21.23 40.4 59.6 0
LifeStrategy Conservative Growth Vanguard +6.23 6.89 -21.90 40 60 0
Sheltered Sam 40/60 Bill Bernstein +6.18 6.47 -22.05 38.8 60 1.2
All Country World 40/60 +6.06 7.63 -25.16 40 60 0

Here's a list containing the Best Classic Portfolios, with the highest returns over 30 Years and Medium Risk categorization.

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30 Years Stats (%)
% Allocation
Portfolio Author Return Dev.Std Drawdown Stocks Bonds Comm
Couch Potato Scott Burns +7.83 8.76 -27.04 50 50 0
Stocks/Bonds 40/60 Momentum +7.75 6.99 -21.11 40 60 0
All Weather Portfolio Ray Dalio +7.19 7.39 -20.58 30 55 15
Robo Advisor 50 Betterment +7.16 9.32 -30.72 49.9 50.1 0
One-Decision Portfolio Marvin Appel +6.85 8.38 -31.96 50 50 0
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