Bill Bernstein Sheltered Sam 90/10 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)
1.35%
1 Day
Dec 01 2023
1.35%
Current Month
December 2023

The Bill Bernstein Sheltered Sam 90/10 Portfolio is a Very High Risk portfolio and can be implemented with 12 ETFs.

It's exposed for 87.3% on the Stock Market and for 2.7% on Commodities.

In the last 30 Years, the Bill Bernstein Sheltered Sam 90/10 Portfolio obtained a 8.56% compound annual return, with a 13.73% standard deviation.

Table of contents

Asset Allocation and ETFs

The Bill Bernstein Sheltered Sam 90/10 Portfolio has the following asset allocation:

87.3% Stocks
10% Fixed Income
2.7% Commodities

The Bill Bernstein Sheltered Sam 90/10 Portfolio can be implemented with the following ETFs:

Weight (%) Ticker Currency ETF Name Investment Themes
22.50
VTV
USD Vanguard Value Equity, U.S., Large Cap, Value
18.00
VV
USD Vanguard Large-Cap Equity, U.S., Large Cap
13.50
IJS
USD iShares S&P Small-Cap 600 Value Equity, U.S., Small Cap, Value
9.00
VNQ
USD Vanguard Real Estate Real Estate, U.S.
6.30
EFV
USD iShares MSCI EAFE Value Equity, EAFE, Large Cap, Value
4.50
EEM
USD iShares MSCI Emerging Markets Equity, Emerging Markets, Large Cap
4.50
IJR
USD iShares Core S&P Small-Cap Equity, U.S., Small Cap
4.50
VGK
USD Vanguard FTSE Europe Equity, Developed Europe, Large Cap
4.50
VPL
USD Vanguard FTSE Pacific Equity, Developed Asia Pacific, Large Cap
6.00
SHY
USD iShares 1-3 Year Treasury Bond Bond, U.S., Short Term
4.00
TIP
USD iShares TIPS Bond Bond, U.S., All-Term
2.70
GLTR
USD Aberdeen Standard Physical Precious Metals Basket Shares Commodity, Broad Precious Metals

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 Bill Bernstein Sheltered Sam 90/10 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.
BILL BERNSTEIN SHELTERED SAM 90/10 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)
Bill Bernstein Sheltered Sam 90/10 Portfolio 1.35 1.35 7.70 6.19 3.78 7.08 7.14 8.56 10.36
US Inflation Adjusted return 7.70 4.96 0.42 2.89 4.20 5.89 7.36
Components
VTV
USD Vanguard Value 0.89 Dec 01 2023 0.89 6.68 7.69 0.61 8.52 9.41 9.12 10.72
VV
USD Vanguard Large-Cap 0.60 Dec 01 2023 0.60 9.48 10.62 14.57 12.47 11.69 10.07 11.31
IJS
USD iShares S&P Small-Cap 600 Value 3.28 Dec 01 2023 3.28 9.07 4.59 -5.38 5.50 6.78 10.07 11.60
VNQ
USD Vanguard Real Estate 2.46 Dec 01 2023 2.46 12.08 4.30 -2.99 3.66 6.41 8.34 9.08
EFV
USD iShares MSCI EAFE Value 1.13 Dec 01 2023 1.13 6.94 9.04 12.93 4.80 2.65 5.54 8.82
EEM
USD iShares MSCI Emerging Markets 0.43 Dec 01 2023 0.43 7.79 4.40 2.42 1.46 1.42 4.65 8.63
IJR
USD iShares Core S&P Small-Cap 2.92 Dec 01 2023 2.92 8.27 5.00 -3.96 5.56 7.47 9.65 10.69
VGK
USD Vanguard FTSE Europe 0.96 Dec 01 2023 0.96 9.76 4.62 12.15 7.14 4.12 6.96 9.73
VPL
USD Vanguard FTSE Pacific 1.05 Dec 01 2023 1.05 7.02 4.05 7.24 3.95 3.91 3.12 6.04
SHY
USD iShares 1-3 Year Treasury Bond 0.29 Dec 01 2023 0.29 1.05 1.53 2.96 1.04 0.77 3.00 4.33
TIP
USD iShares TIPS Bond 0.51 Dec 01 2023 0.51 2.77 -1.03 -0.52 2.25 1.70 4.90 6.69
GLTR
USD Aberdeen Standard Physical Precious Metals Basket Shares 1.12 Dec 01 2023 1.12 3.57 1.50 5.42 8.91 2.99 6.01 7.06
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%
Live update: World Markets and Indexes

In 2022, the Bill Bernstein Sheltered Sam 90/10 Portfolio granted a 2.12% dividend yield. If you are interested in getting periodic income, please refer to the Bill Bernstein Sheltered Sam 90/10 Portfolio: Dividend Yield page.

Capital Growth as of Nov 30, 2023

An investment of 1$, since December 1993, now would be worth 11.76$, with a total return of 1075.58% (8.56% annualized).

The Inflation Adjusted Capital now would be 5.57$, with a net total return of 457.09% (5.89% annualized).
An investment of 1$, since January 1985, now would be worth 46.39$, with a total return of 4539.00% (10.36% annualized).

The Inflation Adjusted Capital now would be 15.88$, with a net total return of 1487.69% (7.36% annualized).
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Portfolio Metrics as of Nov 30, 2023

Metrics of Bill Bernstein Sheltered Sam 90/10 Portfolio, updated as of 30 November 2023.

Metrics are calculated based on monthly returns, assuming:
BILL BERNSTEIN SHELTERED SAM 90/10 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 (%) 7.70 0.20 6.19 3.78 6.25 7.08 7.14 7.91 8.56 10.36
Infl. Adjusted Return (%) details 7.70 -0.01 4.96 0.42 0.48 2.89 4.20 5.19 5.89 7.36
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 (%) -9.69 -20.42 -22.65 -22.65 -50.12 -50.12 -50.12
Start to Recovery (# months) details 4* 23* 11 11 42 42 42
Start (yyyy mm) 2023 08 2022 01 2020 01 2020 01 2007 11 2007 11 2007 11
Start to Bottom (# months) 3 9 3 3 16 16 16
Bottom (yyyy mm) 2023 10 2022 09 2020 03 2020 03 2009 02 2009 02 2009 02
Bottom to End (# months) 1 14 8 8 26 26 26
End (yyyy mm) - - 2020 11 2020 11 2011 04 2011 04 2011 04
Longest Drawdown Depth (%) -4.95
same as
deepest		 -20.42 -20.42
same as
deepest
same as
deepest
same as
deepest
Start to Recovery (# months) details 5 23* 23*
Start (yyyy mm) 2023 02 2022 01 2022 01 2022 01 2007 11 2007 11 2007 11
Start to Bottom (# months) 4 9 9 9 16 16 16
Bottom (yyyy mm) 2023 05 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 1 14 14 14 26 26 26
End (yyyy mm) 2023 06 - - - 2011 04 2011 04 2011 04
Longest negative period (# months) details 11 31 31 37 65 102 102
Period Start (yyyy mm) 2022 12 2021 04 2021 04 2017 03 2006 05 2000 09 2000 09
Period End (yyyy mm) 2023 10 2023 10 2023 10 2020 03 2011 09 2009 02 2009 02
Annualized Return (%) -3.97 -0.98 -0.98 -0.44 0.00 -0.30 -0.30
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -10.27 -25.25 -25.25 -25.25 -50.88 -50.88 -50.88
Start to Recovery (# months) details 4* 23* 23* 23* 65 65 65
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 49 49 49
End (yyyy mm) - - - - 2013 03 2013 03 2013 03
Longest Drawdown Depth (%) -6.50
same as
deepest
same as
deepest
same as
deepest
same as
deepest
same as
deepest
same as
deepest
Start to Recovery (# months) details 6
Start (yyyy mm) 2023 02 2022 01 2022 01 2022 01 2007 11 2007 11 2007 11
Start to Bottom (# months) 4 9 9 9 16 16 16
Bottom (yyyy mm) 2023 05 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 2 14 14 14 49 49 49
End (yyyy mm) 2023 07 - - - 2013 03 2013 03 2013 03
Longest negative period (# months) details 11 35 47 58 74 139 139
Period Start (yyyy mm) 2022 12 2020 12 2019 12 2017 12 2005 08 1997 08 1997 08
Period End (yyyy mm) 2023 10 2023 10 2023 10 2022 09 2011 09 2009 02 2009 02
Annualized Return (%) -7.35 -2.03 -0.39 -0.18 -0.16 -0.22 -0.22
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 14.43 14.82 16.80 13.34 14.36 13.73 13.58
Sharpe Ratio -0.08 0.29 0.32 0.46 0.46 0.46 0.47
Sortino Ratio -0.12 0.41 0.43 0.61 0.60 0.60 0.60
Ulcer Index 4.12 7.76 7.71 5.95 11.12 9.91 9.13
Ratio: Return / Standard Deviation 0.26 0.42 0.42 0.54 0.55 0.62 0.76
Ratio: Return / Deepest Drawdown 0.39 0.31 0.31 0.32 0.16 0.17 0.21
% Positive Months details 50% 58% 61% 66% 66% 66% 67%
Positive Months 6 21 37 80 160 238 315
Negative Months 6 15 23 40 80 122 152
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 7.14 13.95 13.95 15.54
Worst 10 Years Return (%) - Annualized 5.14 1.91 1.91
Best 10 Years Return (%) - Annualized 4.20 11.97 11.97 12.45
Worst 10 Years Return (%) - Annualized 3.28 -0.65 -0.65
ROLLING PERIOD RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 57.50 25.64 21.29 13.95 9.72 8.56
Worst Rolling Return (%) - Annualized -43.25 -14.23 -3.68 1.91 6.02
% Positive Periods 75% 87% 98% 100% 100% 100%
Best Rolling Return (%) - Annualized 54.20 22.73 18.86 11.97 7.25 5.89
Worst Rolling Return (%) - Annualized -43.38 -16.09 -6.17 -0.65 3.87
% Positive Periods 70% 85% 88% 99% 100% 100%
Over all the available data source (Jan 1985 - Nov 2023)
Best Rolling Return (%) - Annualized 57.50 25.64 21.29 15.54 13.44 11.41
Worst Rolling Return (%) - Annualized -43.25 -14.23 -3.68 1.91 6.02 8.19
% Positive Periods 77% 90% 98% 100% 100% 100%
Best Rolling Return (%) - Annualized 54.20 22.73 18.86 12.45 10.13 8.47
Worst Rolling Return (%) - Annualized -43.38 -16.09 -6.17 -0.65 3.87 5.53
% Positive Periods 73% 88% 91% 99% 100% 100%
WITHDRAWAL RATES (WR)
1Y 3Y 5Y 10Y 20Y 30Y MAX
Safe WR (%) 35.42 22.36 12.74 8.22 7.78 11.59
Perpetual WR (%) 0.48 2.81 4.03 4.93 5.56 6.86
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
VTV
VV
IJS
VNQ
EFV
EEM
IJR
VGK
VPL
SHY
TIP
GLTR
VTV
-
0.88
0.85
0.90
0.90
0.83
0.85
0.88
0.84
0.31
0.65
0.29
VV
0.88
-
0.83
0.91
0.76
0.85
0.85
0.85
0.89
0.42
0.78
0.31
IJS
0.85
0.83
-
0.91
0.86
0.81
0.99
0.83
0.81
0.08
0.51
0.02
VNQ
0.90
0.91
0.91
-
0.88
0.87
0.90
0.93
0.91
0.40
0.74
0.31
EFV
0.90
0.76
0.86
0.88
-
0.87
0.82
0.94
0.87
0.33
0.65
0.28
EEM
0.83
0.85
0.81
0.87
0.87
-
0.79
0.87
0.99
0.54
0.77
0.50
IJR
0.85
0.85
0.99
0.90
0.82
0.79
-
0.79
0.80
0.06
0.49
-0.01
VGK
0.88
0.85
0.83
0.93
0.94
0.87
0.79
-
0.91
0.48
0.83
0.42
VPL
0.84
0.89
0.81
0.91
0.87
0.99
0.80
0.91
-
0.56
0.81
0.49
SHY
0.31
0.42
0.08
0.40
0.33
0.54
0.06
0.48
0.56
-
0.83
0.86
TIP
0.65
0.78
0.51
0.74
0.65
0.77
0.49
0.83
0.81
0.83
-
0.68
GLTR
0.29
0.31
0.02
0.31
0.28
0.50
-0.01
0.42
0.49
0.86
0.68
-
Asset
VTV
VV
IJS
VNQ
EFV
EEM
IJR
VGK
VPL
SHY
TIP
GLTR
VTV
-
0.92
0.91
0.82
0.90
0.72
0.92
0.90
0.84
-0.05
0.45
0.27
VV
0.92
-
0.85
0.87
0.81
0.73
0.89
0.89
0.86
0.10
0.61
0.33
IJS
0.91
0.85
-
0.78
0.87
0.75
0.99
0.84
0.83
-0.11
0.39
0.17
VNQ
0.82
0.87
0.78
-
0.75
0.68
0.81
0.83
0.78
0.10
0.66
0.33
EFV
0.90
0.81
0.87
0.75
-
0.81
0.85
0.95
0.91
0.03
0.41
0.29
EEM
0.72
0.73
0.75
0.68
0.81
-
0.75
0.82
0.87
0.20
0.47
0.46
IJR
0.92
0.89
0.99
0.81
0.85
0.75
-
0.85
0.85
-0.08
0.45
0.20
VGK
0.90
0.89
0.84
0.83
0.95
0.82
0.85
-
0.92
0.17
0.57
0.40
VPL
0.84
0.86
0.83
0.78
0.91
0.87
0.85
0.92
-
0.21
0.55
0.36
SHY
-0.05
0.10
-0.11
0.10
0.03
0.20
-0.08
0.17
0.21
-
0.62
0.33
TIP
0.45
0.61
0.39
0.66
0.41
0.47
0.45
0.57
0.55
0.62
-
0.47
GLTR
0.27
0.33
0.17
0.33
0.29
0.46
0.20
0.40
0.36
0.33
0.47
-
Asset
VTV
VV
IJS
VNQ
EFV
EEM
IJR
VGK
VPL
SHY
TIP
GLTR
VTV
-
0.93
0.88
0.70
0.86
0.68
0.88
0.85
0.80
-0.11
0.33
0.17
VV
0.93
-
0.83
0.74
0.80
0.70
0.86
0.85
0.83
0.03
0.48
0.23
IJS
0.88
0.83
-
0.68
0.77
0.64
0.99
0.74
0.74
-0.14
0.29
0.10
VNQ
0.70
0.74
0.68
-
0.59
0.54
0.70
0.66
0.63
0.16
0.63
0.28
EFV
0.86
0.80
0.77
0.59
-
0.79
0.76
0.95
0.89
-0.03
0.33
0.23
EEM
0.68
0.70
0.64
0.54
0.79
-
0.63
0.78
0.86
0.15
0.42
0.41
IJR
0.88
0.86
0.99
0.70
0.76
0.63
-
0.75
0.76
-0.11
0.33
0.11
VGK
0.85
0.85
0.74
0.66
0.95
0.78
0.75
-
0.87
0.10
0.46
0.30
VPL
0.80
0.83
0.74
0.63
0.89
0.86
0.76
0.87
-
0.12
0.45
0.29
SHY
-0.11
0.03
-0.14
0.16
-0.03
0.15
-0.11
0.10
0.12
-
0.62
0.33
TIP
0.33
0.48
0.29
0.63
0.33
0.42
0.33
0.46
0.45
0.62
-
0.48
GLTR
0.17
0.23
0.10
0.28
0.23
0.41
0.11
0.30
0.29
0.33
0.48
-
Asset
VTV
VV
IJS
VNQ
EFV
EEM
IJR
VGK
VPL
SHY
TIP
GLTR
VTV
-
0.95
0.85
0.64
0.82
0.71
0.80
0.83
0.68
-0.15
0.16
0.38
VV
0.95
-
0.82
0.62
0.78
0.73
0.82
0.84
0.70
-0.12
0.21
0.38
IJS
0.85
0.82
-
0.69
0.75
0.67
0.96
0.74
0.62
-0.17
0.13
0.38
VNQ
0.64
0.62
0.69
-
0.61
0.52
0.65
0.61
0.50
-0.02
0.33
0.39
EFV
0.82
0.78
0.75
0.61
-
0.78
0.73
0.94
0.84
-0.14
0.17
0.47
EEM
0.71
0.73
0.67
0.52
0.78
-
0.70
0.78
0.76
-0.09
0.19
0.62
IJR
0.80
0.82
0.96
0.65
0.73
0.70
-
0.74
0.65
-0.19
0.12
0.40
VGK
0.83
0.84
0.74
0.61
0.94
0.78
0.74
-
0.74
-0.10
0.21
0.45
VPL
0.68
0.70
0.62
0.50
0.84
0.76
0.65
0.74
-
-0.11
0.21
0.50
SHY
-0.15
-0.12
-0.17
-0.02
-0.14
-0.09
-0.19
-0.10
-0.11
-
0.62
0.04
TIP
0.16
0.21
0.13
0.33
0.17
0.19
0.12
0.21
0.21
0.62
-
0.29
GLTR
0.38
0.38
0.38
0.39
0.47
0.62
0.40
0.45
0.50
0.04
0.29
-
Asset
VTV
VV
IJS
VNQ
EFV
EEM
IJR
VGK
VPL
SHY
TIP
GLTR
VTV
-
0.95
0.86
0.64
0.83
0.68
0.82
0.79
0.55
-0.03
0.21
0.32
VV
0.95
-
0.83
0.61
0.81
0.69
0.84
0.79
0.57
-0.02
0.24
0.32
IJS
0.86
0.83
-
0.70
0.77
0.64
0.96
0.71
0.51
-0.10
0.14
0.33
VNQ
0.64
0.61
0.70
-
0.60
0.49
0.65
0.57
0.42
0.02
0.30
0.33
EFV
0.83
0.81
0.77
0.60
-
0.71
0.74
0.89
0.71
-0.02
0.21
0.41
EEM
0.68
0.69
0.64
0.49
0.71
-
0.66
0.68
0.59
0.02
0.21
0.44
IJR
0.82
0.84
0.96
0.65
0.74
0.66
-
0.70
0.52
-0.12
0.13
0.34
VGK
0.79
0.79
0.71
0.57
0.89
0.68
0.70
-
0.68
0.02
0.23
0.41
VPL
0.55
0.57
0.51
0.42
0.71
0.59
0.52
0.68
-
0.02
0.20
0.42
SHY
-0.03
-0.02
-0.10
0.02
-0.02
0.02
-0.12
0.02
0.02
-
0.71
-0.02
TIP
0.21
0.24
0.14
0.30
0.21
0.21
0.13
0.23
0.20
0.71
-
0.14
GLTR
0.32
0.32
0.33
0.33
0.41
0.44
0.34
0.41
0.42
-0.02
0.14
-

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.

BILL BERNSTEIN SHELTERED SAM 90/10 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
-50.12% Nov 2007 Feb 2009 16 Apr 2011 26 42 23.90
-22.65% Jan 2020 Mar 2020 3 Nov 2020 8 11 10.44
-21.79% Feb 2001 Sep 2002 20 Oct 2003 13 33 11.53
-20.42% Jan 2022 Sep 2022 9 in progress 14 23 9.60
-17.83% May 2011 Sep 2011 5 Mar 2012 6 11 7.88
-17.68% May 1998 Aug 1998 4 Apr 1999 8 12 7.05
-11.79% Sep 2018 Dec 2018 4 Apr 2019 4 8 5.17
-9.22% Jun 2015 Jan 2016 8 Jun 2016 5 13 5.08
-7.26% Apr 2012 May 2012 2 Sep 2012 4 6 3.15
-6.92% Feb 1994 Mar 1994 2 Apr 1995 13 15 4.29
-6.55% Sep 2000 Nov 2000 3 Jan 2001 2 5 3.00
-5.49% May 2019 May 2019 1 Jul 2019 2 3 2.75
-5.36% Jun 2007 Jul 2007 2 Oct 2007 3 5 2.85
-4.71% Feb 2018 Mar 2018 2 Jul 2018 4 6 3.20
-4.53% Apr 2004 Apr 2004 1 Sep 2004 5 6 2.30
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-50.88% Nov 2007 Feb 2009 16 Mar 2013 49 65 21.93
-25.25% Jan 2022 Sep 2022 9 in progress 14 23 15.22
-24.95% Feb 2001 Mar 2003 26 Nov 2003 8 34 13.54
-22.99% Jan 2020 Mar 2020 3 Nov 2020 8 11 10.76
-18.13% May 1998 Aug 1998 4 Apr 1999 8 12 7.51
-11.73% Feb 2018 Dec 2018 11 Oct 2019 10 21 4.47
-9.91% Mar 2015 Sep 2015 7 Jul 2016 10 17 5.14
-8.66% Feb 1994 Nov 1994 10 May 1995 6 16 5.61
-7.25% Sep 2000 Nov 2000 3 Jan 2001 2 5 3.46
-5.52% Jun 2007 Jul 2007 2 Oct 2007 3 5 2.93
-5.36% Jan 2005 Apr 2005 4 Jul 2005 3 7 2.56
-5.09% Jan 2000 Feb 2000 2 Aug 2000 6 8 2.81
-4.95% Jul 1999 Sep 1999 3 Dec 1999 3 6 2.71
-4.84% Apr 2004 Apr 2004 1 Oct 2004 6 7 2.68
-4.53% Oct 1997 Oct 1997 1 Feb 1998 4 5 2.36
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-50.12% Nov 2007 Feb 2009 16 Apr 2011 26 42 23.90
-23.28% Sep 1987 Nov 1987 3 Jan 1989 14 17 11.71
-22.65% Jan 2020 Mar 2020 3 Nov 2020 8 11 10.44
-21.79% Feb 2001 Sep 2002 20 Oct 2003 13 33 11.53
-20.42% Jan 2022 Sep 2022 9 in progress 14 23 9.60
-17.83% May 2011 Sep 2011 5 Mar 2012 6 11 7.88
-17.68% May 1998 Aug 1998 4 Apr 1999 8 12 7.05
-15.69% Jan 1990 Sep 1990 9 Feb 1991 5 14 8.10
-11.79% Sep 2018 Dec 2018 4 Apr 2019 4 8 5.17
-9.22% Jun 2015 Jan 2016 8 Jun 2016 5 13 5.08
-7.26% Apr 2012 May 2012 2 Sep 2012 4 6 3.15
-6.92% Feb 1994 Mar 1994 2 Apr 1995 13 15 4.29
-6.55% Sep 2000 Nov 2000 3 Jan 2001 2 5 3.00
-5.49% May 2019 May 2019 1 Jul 2019 2 3 2.75
-5.36% Jun 2007 Jul 2007 2 Oct 2007 3 5 2.85
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-50.88% Nov 2007 Feb 2009 16 Mar 2013 49 65 21.93
-25.25% Jan 2022 Sep 2022 9 in progress 14 23 15.22
-24.95% Feb 2001 Mar 2003 26 Nov 2003 8 34 13.54
-23.95% Sep 1987 Nov 1987 3 May 1989 18 21 12.27
-22.99% Jan 2020 Mar 2020 3 Nov 2020 8 11 10.76
-20.04% Jan 1990 Oct 1990 10 May 1991 7 17 10.40
-18.13% May 1998 Aug 1998 4 Apr 1999 8 12 7.51
-11.73% Feb 2018 Dec 2018 11 Oct 2019 10 21 4.47
-9.91% Mar 2015 Sep 2015 7 Jul 2016 10 17 5.14
-8.66% Feb 1994 Nov 1994 10 May 1995 6 16 5.61
-7.25% Sep 2000 Nov 2000 3 Jan 2001 2 5 3.46
-5.52% Jun 2007 Jul 2007 2 Oct 2007 3 5 2.93
-5.36% Jan 2005 Apr 2005 4 Jul 2005 3 7 2.56
-5.09% Jan 2000 Feb 2000 2 Aug 2000 6 8 2.81
-5.06% Sep 1986 Sep 1986 1 Jan 1987 4 5 2.41

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.

BILL BERNSTEIN SHELTERED SAM 90/10 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 -43.25 03/2008
02/2009 		0.56$ -4.13 0.95$ 11.13 1.11$ 22.27 1.22$ 57.50 03/2009
02/2010 		1.57$ 3.78 24.93%
2Y -26.14 03/2007
02/2009 		0.54$ -0.17 0.99$ 10.29 1.21$ 18.48 1.40$ 39.42 03/2009
02/2011 		1.94$ -0.32 15.43%
3Y -14.23 03/2006
02/2009 		0.63$ 2.15 1.06$ 9.79 1.32$ 15.52 1.54$ 25.64 03/2009
02/2012 		1.98$ 6.25 12.62%
5Y -3.68 03/2004
02/2009 		0.82$ 3.12 1.16$ 7.90 1.46$ 13.74 1.90$ 21.29 03/2009
02/2014 		2.62$ 7.08 1.99%
7Y 0.47 03/2002
02/2009 		1.03$ 5.42 1.44$ 8.31 1.74$ 10.45 2.00$ 14.73 03/2009
02/2016 		2.61$ 7.63 0.00%
10Y 1.91 03/1999
02/2009 		1.20$ 5.72 1.74$ 8.46 2.25$ 10.67 2.75$ 13.95 03/2009
02/2019 		3.69$ 7.14 0.00%
15Y 5.35 10/2007
09/2022 		2.18$ 6.71 2.64$ 7.60 2.99$ 8.39 3.34$ 10.41 02/2003
01/2018 		4.41$ 10.13 0.00%
20Y 6.02 04/2000
03/2020 		3.22$ 7.43 4.19$ 8.23 4.86$ 9.22 5.83$ 9.72 12/1994
11/2014 		6.38$ 7.91 0.00%
30Y 8.56 12/1993
11/2023 		11.75$ 8.56 11.75$ 8.56 11.75$ 8.56 11.75$ 8.56 12/1993
11/2023 		11.75$ 8.56 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 -43.38 03/2008
02/2009 		0.56$ -7.22 0.92$ 9.13 1.09$ 20.05 1.20$ 54.20 03/2009
02/2010 		1.54$ 0.42 29.51%
2Y -27.66 03/2007
02/2009 		0.52$ -2.75 0.94$ 7.54 1.15$ 15.55 1.33$ 36.52 03/2009
02/2011 		1.86$ -5.26 20.47%
3Y -16.09 03/2006
02/2009 		0.59$ 0.06 1.00$ 7.35 1.23$ 13.13 1.44$ 22.73 03/2009
02/2012 		1.84$ 0.48 14.77%
5Y -6.17 03/2004
02/2009 		0.72$ 0.58 1.02$ 5.77 1.32$ 10.97 1.68$ 18.86 03/2009
02/2014 		2.37$ 2.89 11.30%
7Y -2.04 03/2002
02/2009 		0.86$ 3.23 1.24$ 5.67 1.47$ 8.43 1.76$ 12.92 03/2009
02/2016 		2.34$ 3.96 1.08%
10Y -0.65 03/1999
02/2009 		0.93$ 3.71 1.43$ 6.03 1.79$ 8.06 2.17$ 11.97 03/2009
02/2019 		3.09$ 4.20 0.83%
15Y 2.80 03/1994
02/2009 		1.51$ 4.34 1.89$ 5.21 2.14$ 6.02 2.40$ 8.15 02/2003
01/2018 		3.23$ 7.44 0.00%
20Y 3.87 04/2000
03/2020 		2.13$ 5.10 2.70$ 5.87 3.12$ 6.64 3.61$ 7.25 03/1995
02/2015 		4.05$ 5.19 0.00%
30Y 5.89 12/1993
11/2023 		5.57$ 5.89 5.57$ 5.89 5.57$ 5.89 5.57$ 5.89 12/1993
11/2023 		5.57$ 5.89 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 -43.25 03/2008
02/2009 		0.56$ -3.47 0.96$ 12.54 1.12$ 24.58 1.24$ 57.50 03/2009
02/2010 		1.57$ 3.78 22.59%
2Y -26.14 03/2007
02/2009 		0.54$ 2.27 1.04$ 11.15 1.23$ 18.78 1.41$ 39.42 03/2009
02/2011 		1.94$ -0.32 11.71%
3Y -14.23 03/2006
02/2009 		0.63$ 4.04 1.12$ 11.10 1.37$ 16.30 1.57$ 25.64 03/2009
02/2012 		1.98$ 6.25 9.49%
5Y -3.68 03/2004
02/2009 		0.82$ 4.16 1.22$ 10.38 1.63$ 14.99 2.01$ 21.29 03/2009
02/2014 		2.62$ 7.08 1.47%
7Y 0.47 03/2002
02/2009 		1.03$ 6.22 1.52$ 9.42 1.87$ 13.57 2.43$ 18.68 10/1990
09/1997 		3.31$ 7.63 0.00%
10Y 1.91 03/1999
02/2009 		1.20$ 6.30 1.84$ 9.54 2.48$ 13.25 3.47$ 15.54 12/1987
11/1997 		4.24$ 7.14 0.00%
15Y 5.35 10/2007
09/2022 		2.18$ 7.01 2.76$ 8.20 3.25$ 11.86 5.37$ 15.73 01/1985
12/1999 		8.94$ 10.13 0.00%
20Y 6.02 04/2000
03/2020 		3.22$ 7.67 4.38$ 8.93 5.53$ 11.48 8.79$ 13.44 01/1985
12/2004 		12.45$ 7.91 0.00%
30Y 8.19 11/1993
10/2023 		10.60$ 9.00 13.25$ 9.64 15.79$ 10.25 18.66$ 11.41 01/1985
12/2014 		25.55$ 8.56 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 -43.38 03/2008
02/2009 		0.56$ -6.40 0.93$ 9.32 1.09$ 21.37 1.21$ 54.20 03/2009
02/2010 		1.54$ 0.42 26.97%
2Y -27.66 03/2007
02/2009 		0.52$ -0.67 0.98$ 7.76 1.16$ 15.56 1.33$ 36.52 03/2009
02/2011 		1.86$ -5.26 15.99%
3Y -16.09 03/2006
02/2009 		0.59$ 1.58 1.04$ 7.89 1.25$ 13.17 1.44$ 22.73 03/2009
02/2012 		1.84$ 0.48 11.57%
5Y -6.17 03/2004
02/2009 		0.72$ 1.70 1.08$ 7.55 1.43$ 11.89 1.75$ 18.86 03/2009
02/2014 		2.37$ 2.89 8.33%
7Y -2.04 03/2002
02/2009 		0.86$ 3.74 1.29$ 7.00 1.60$ 10.21 1.97$ 15.43 10/1990
09/1997 		2.73$ 3.96 0.78%
10Y -0.65 03/1999
02/2009 		0.93$ 4.15 1.50$ 7.25 2.01$ 9.98 2.58$ 12.45 10/1990
09/2000 		3.23$ 4.20 0.57%
15Y 2.80 03/1994
02/2009 		1.51$ 4.66 1.97$ 5.86 2.35$ 8.85 3.56$ 12.17 01/1985
12/1999 		5.59$ 7.44 0.00%
20Y 3.87 04/2000
03/2020 		2.13$ 5.37 2.84$ 6.34 3.41$ 8.16 4.80$ 10.13 01/1985
12/2004 		6.89$ 5.19 0.00%
30Y 5.53 11/1993
10/2023 		5.02$ 6.39 6.41$ 6.95 7.50$ 7.51 8.76$ 8.47 01/1985
12/2014 		11.46$ 5.89 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 Bill Bernstein Sheltered Sam 90/10 Portfolio: Rolling Returns page.

Seasonality

In which months is it better to invest in Bill Bernstein Sheltered Sam 90/10 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.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
2.00
60%
-1.02
40%
-1.77
80%
2.03
80%
-0.34
60%
1.11
60%
2.79
100%
-0.48
40%
-3.27
20%
2.01
60%
4.98
80%
0.24
60%
Best 7.9
2019 		4.2
2021 		4.0
2021 		9.1
2020 		3.4
2020 		5.8
2019 		5.8
2022 		4.3
2020 		2.7
2019 		7.7
2022 		11.4
2020 		5.0
2021
Worst -3.3
2022 		-7.3
2020 		-14.8
2020 		-5.7
2022 		-5.5
2019 		-7.4
2022 		0.1
2021 		-3.8
2022 		-8.6
2022 		-2.9
2023 		-2.6
2021 		-7.4
2018
Monthly Seasonality over the period Feb 1985 - Nov 2023
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.61
50%
0.12
60%
-0.17
70%
1.37
90%
0.25
80%
0.85
70%
2.09
90%
-0.40
50%
-1.96
30%
1.23
60%
3.41
90%
0.42
60%
Best 7.9
2019 		4.3
2014 		7.1
2016 		9.1
2020 		3.4
2020 		5.8
2019 		5.8
2022 		4.3
2020 		2.7
2019 		7.7
2022 		11.4
2020 		5.0
2021
Worst -4.4
2016 		-7.3
2020 		-14.8
2020 		-5.7
2022 		-5.5
2019 		-7.4
2022 		-1.7
2014 		-5.4
2015 		-8.6
2022 		-6.2
2018 		-2.6
2021 		-7.4
2018
Monthly Seasonality over the period Feb 1985 - Nov 2023
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.13
64%
0.65
67%
1.17
74%
1.79
79%
0.98
72%
0.36
56%
1.27
69%
-0.17
56%
-0.58
54%
0.47
64%
1.66
72%
2.14
82%
Best 10.4
1987 		6.9
1986 		7.8
2009 		12.7
2009 		6.9
1990 		5.8
2019 		8.4
2009 		6.8
1986 		8.0
2010 		10.5
2011 		11.4
2020 		9.4
1991
Worst -10.8
2009 		-11.0
2009 		-14.8
2020 		-5.7
2022 		-7.5
2010 		-7.7
2008 		-9.2
2002 		-13.7
1998 		-8.6
2022 		-19.2
1987 		-8.3
2008 		-7.4
2018
Monthly Seasonality over the period Feb 1985 - Nov 2023

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Bill Bernstein Sheltered Sam 90/10 Portfolio over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

BILL BERNSTEIN SHELTERED SAM 90/10 PORTFOLIO
Monthly Returns Distribution
Data Source: 1 December 1993 - 30 November 2023 (30 Years)
Data Source: 1 January 1985 - 30 November 2023 (~39 years)
238 Positive Months (66%) - 122 Negative Months (34%)
315 Positive Months (67%) - 152 Negative Months (33%)
Swipe left to see all data
(Scroll down to see all data)
Investment Returns, up to December 2010, 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:
  • VTV - Vanguard Value, up to December 2004
  • VV - Vanguard Large-Cap, up to December 2004
  • IJS - iShares S&P Small-Cap 600 Value, up to December 2000
  • VNQ - Vanguard Real Estate, up to December 2004
  • EFV - iShares MSCI EAFE Value, up to December 2005
  • EEM - iShares MSCI Emerging Markets, up to December 2003
  • IJR - iShares Core S&P Small-Cap, up to December 2000
  • VGK - Vanguard FTSE Europe, up to December 2005
  • VPL - Vanguard FTSE Pacific, up to December 2005
  • SHY - iShares 1-3 Year Treasury Bond, up to December 2002
  • TIP - iShares TIPS Bond, up to December 2003
  • GLTR - Aberdeen Standard Physical Precious Metals Basket Shares, up to December 2010

Portfolio efficiency

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

Swipe left to see all data
30 Years Stats (%)
% Allocation
Portfolio Author Return▾ Dev.Std Drawdown Stocks Bonds Comm
Stocks/Bonds 80/20 Momentum +10.76 12.35 -43.61 80 20 0
US Stocks Minimum Volatility +9.58 13.72 -43.27 100 0 0
Warren Buffett Portfolio Warren Buffett +9.54 13.65 -45.52 90 10 0
Stocks/Bonds 60/40 Momentum +9.34 9.56 -32.52 60 40 0
Stocks/Bonds 80/20 +9.02 12.49 -41.09 80 20 0
Simple Path to Wealth JL Collins +8.78 11.75 -38.53 75 25 0
Robust Alpha Architect +8.67 11.09 -44.20 70 20 10
Sheltered Sam 90/10 Bill Bernstein +8.56 13.73 -50.12 87.3 10 2.7

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

Swipe left to see all data
30 Years Stats (%)
% Allocation
Portfolio Author Return▾ Dev.Std Drawdown Stocks Bonds Comm
Technology +13.75 24.01 -81.08 100 0 0
US Stocks Momentum +12.01 15.28 -53.85 100 0 0
Stocks/Bonds 80/20 Momentum +10.76 12.35 -43.61 80 20 0
US Stocks +9.90 15.52 -50.84 100 0 0
US Stocks Value +9.71 15.36 -55.41 100 0 0
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